₦airaland Forum

midehi2:
I think so, cos my kid sis is among the hostess to ride the train with him, i have told my sis to be careful oo bfor dem bomb them inside train people are angry with that man

Oladeji245:
take it easy nah..some of us are learning new things on this thread.

radautoworks:
there are three times minimum this year that a list was compiled and posted on this thread

frubben:
toyota Yaris. Portable and wicked fuel consumption. Car part cheap die cos we no many wey dey use am. Get a good one and thank me later . And the car is very rugged

OneTemplate:
Lol. Your 'topic' is dead and the many informed and educated posters who commented to dispel the ignorance and mischief you're selling ensured that.

In your first comment you insulted the Naira because of your own ignorance and self-hatred only to now be playing the victim when some proud and knowledgeable Nigerians correct your ignorance.

Abeg go back to school. After you have been educated do you not now feel you owe Nigerians an apology with your "big shame" pun against the Naira, below, when the simple fact is that we never needed to redenominate like Ghana where they were paying for a pair of shoes with over a million cedis before Ghana redenominate in 2007?

The only thing that is a big shame is your self-hating ignorance.

OneTemplate:
Better than what? Better than being annoyed at the senseless antics off self-hating Nigerians who continue to malign their own Nation with lies and fallacies in the hope of portraying her as worthless to the world?

Do some Nigerians even know what is going on in other nations that their citizens hide only for the same people to be cackling at Nigeria because we do a great job disgracing and belittling ourselves?

Yes we have problems but let's learn to keep it real.

OneTemplate:
You might not like his response but he is telling you the truth. With all due respect, you are an economic illiterate.

Ghana redenominated her currency, i.e took away a few decimal places, so the currency would become less unwieldy so that paying for even a few dozen tin milk would not involve millions of cedi as was the case before Redenominating of the Cedi.

If I had a kobo for every Nigerian who has made this simplistic argument you make, simply to disparage Nigeria and praise Ghana or others, then I would at least have perhaps 20k Naira now.

The value of the Cedi did not increase with redinomation to make it more valuable than Naira. Nigeria too can redenominate the naira today to make 500 Naira 5 naira. Perhaps the simplistic comparison of the new redinominated 5 Naira will show you it remains a more value-inherent currency than 5 cedis.

chrisooblog:
Yes, in theory it should because the money we make from the little crude oil we sell we blow on importing petrol, diesel, kerosene and subsidizing these products. Plus we import so many things which ordinarily we should be producing here to save forex. Oil imports I think account for about 70% of what we use our FX for. So in that regard the Dangote refinery would really be a big game changer not just in terms of FX saved but also in terms of providing an avenue to also earn FX because Nigeria will now be able to sell refined products overseas.

To improve the value of the naira like seunmsg rightly said we need to be productive. Sort out Ajaokuta so we can reduce having to import steel. Boost our farming productivity so we don't have to be importing maize, palmoil, tomato puree.

So many things can be sorted out but it's the political will that will get most of these things resolved.

SIRAO:
You did not asked hid India, if not you shouldn't have said idiot in power when actually you 're the real idiot due to your illiteracy cum ignoramus.

seunmsg:
In simple terms, we don’t earn enough foreign exchange to keep the Naira strong. We don’t produce anything that other countries require other than crude oil. The little forex we earn from crude oil, we spend almost everything to import refined petroleum products and sell in Naira at subsidized rates.

Political elites and even the citizens are not helping matters. Our elites steal money and horde them in foreign currencies. Citizens also gave a very high taste for anything foreign. So, we keep using our little forex to meet all these demands.

There is, however, a green light at the end of the tunnel with Dangote refinery. Once it comes on board fully next year, we should be able to significantly reduce our importation bills. With other government policies in the Agric sector, mining etc, the Naira May start getting stronger by end of next year other things being equal. I’m just being optimistic.

seunmsg:
In terms of the intrinsic value of the Naira, it will still be the same. In fact, Cedi has lost over 20% of its intrinsic value since the redenomination.

Naira is weak quite alright but it has not gotten so bad to the point where we need redenomination. Cedi was almost worthless when it was redenominated in 2007. Zimbabwe did the same repeatedly. The only advantage is that it reduces the cost of managing cash, printing money, and keeping records. Imagine having to carry N40,000 to buy a loaf of bread! That’s how bad Cedis was before 2007.

coolcharm:
What can 4 cedi buy? And what can 400 Naira buy?

That's the true measure of a currencies strength.

Don't be fooled by the 4 cedi narrative. Add four zeros (0000) in front of any cedi to get the actual value of it.

FarahAideed:
Redenomination is actually Nonsense what we should be more concerned is the actual earning and buying power we can push to the masses...if you redenominate it doesn't mean the 10k you have in your account can suddenly buy a car

Lifestone:
They rebased their currency by removing four zeros, so if you had 100,000 cedis in your bank account, it becomes 10 cedis.
Hope you get

budaatum:
By chopping off a few zeros with an ax.

babyfaceafrica:
You guys will just take everything you see online hook, line and sinker.. You better study economics