Kukutenla:

But you brought in mathematics first.

Your maths was wrong. I've seen many doctors discuss the technicalities of their field here and no one has arrested them. In public discourse you make intelligent submissions not market woman analysis. Exchange rate you're discussing is an economic term. Rate of depreciation is also an economic term. So what do you mean by you don't want to speak in technical terms?

Any doctor that is discussing on social media and quoting medical terms to explain simple analogy is simply a nuisance. If rate of depreciation is an economic term, then why don’t you also factor the variables of “Forex revenue of the government” in your rubbish economic terms? Why not bring the revenue PDP generate for 16 years and use that to infer which of them performed well since we have to check all economic metrics for a simple one sentence argument?

Those factors are irrelevant to depreciation calculations which you embarked upon. Your claim is like saying when calculating inflation rate, one should consider the exchange rate.

We are not calculating inflation rate initially. No one mentioned inflation, we were just comparing values without factoring it other metrics. The assumption is that all other factors are kept constant. Na you come with your diversionary tactics to turn the argument elsewhere.

It is irrelevant. Inflation rate is calculated regardless of exchange rate even if exchange rate can affect it.

Oga don’t tell me nonsense. Everybody can prove technical, if you can’t argue based on context, then your technical jargons mean nothing.

You're yet to show the calculations you claimed will change the results.

What calculations do I need to show? That PDP generated more $$ revenue than APC when you use your own time value of money? That Jonathan generated the highest amount of crude sales accruals? That PDP fail to improve infrastructure or diversify revenue to make Nigeria stop being an import dependent country? Abi what are the metrics affecting exchange rates in an economy like Nigeria?

predictor1:
He's fighting a lost battle. He's trying to flummox you to win the argument.

Don’t mind him. A simple straightforward analogy don dey turn mathematics class on top simple naira to dollar rate.

Kukutenla:

As a student of engineering, you should be aware that mathematical tools are usually employed to describe physical quantities and relationships between them. Calculus is a mathematical tool just as depreciation rate is.

That you're using "folds" instead of "rate" reflects poorly on you as a masters degree holder in engineering. You should be familiar with certain terms and use them appropriately.

You used arithmetic in describing your calculations first let me remind you. I'm shocked you're even trying to run away from the mathematics now.
All those other things you're trying to bring in show you're not conversant with the topic. Depreciation is what you were discussing when you brought in arithmetic but you used a fraudulent rate which is why I corrected you by giving you the formula for depreciation. If you want to bring in those other irrelevant factors into it, you're free to as long as you get the maths correct!

You clearly don’t know what you are talking about. I am on Nairaland, conversing with people from different educational background, why do I need to speak in engineering terms when I can converse in lay man term? No be Nairaland we dey? Abi you think say I dey class?

So if we are discussing about why drug abuse is bad, then replying to a doctor mean he will start explaining how it affect the neurotransmitters such as dopamine, serotonins that leads to cognitive impairment. OR I should just say drug abuse is bad.

Oga we no dey mathematic class so why do I need to start quoting equation to explain a simple thing?

When I told you to bring in other factors too, you see that you’ve been arguing nonsense since right?

Goodlady:

Stop drooling spit. See facts below:
Abdul-Aziz Na'ibi Abubakar on X: "Dollar-Naira Exchange Rate from ... https://twitter.com/jrnaib2/status/1762127178450288784?lang=en
See screenshot attached.

And you pass through school. So if they ask you to bring a reputable source from school, na one PDP guy tweet go be your source ?

Below is my own source. It’s the official USA government website report on ways and means.

https://1997-2001.state.gov/issues/economic/trade_reports/africa98/nigeria98.html

Kukutenla:

You are still disgracing your so-called Masters degree.

What we are discussing on this thread is CURRENCY DEPRECIATION. To calculate depreciation, you either use the depreciation formula or you use the progression. That is why I said your progression was fraudulent because you changed the baseline. You used 28 for rate of progression for PDP only to change it to 216 for rate of depreciation under APC. That's false maths. Because you get almost x10 of the rate you used for PDP for one unit rate under APC. That's why the calculation for depreciation comes in to take care of that. You are expected to understand it as a student of engineering who has done calculus and integration which are basically calculations of rate of change based on non-linear rates.

So while you inserted your Masters, you have not shown adequate understanding of calculation of rate of change over a given period. Also, if you have taken business or accounting classes, you will know there are terms such as real and nominal rates which you have also ignored in your analysis. A good student of Engineering should know quantitative analysis should be balanced else you employ exponential series

You are just saying nonsense. This is not an accounting class or calculus class.

The argument wasn’t even with you before you center yourself in.

This is the argument:
PDP took it from N28 to 216
APC took it from 216 to 1200

The argument is about folds per political party tenure not about inserting formular into the discussion. Because trying to insert that will mean we will now try to check the time value of those billion $$ PDP got from crude sales during that time with it peaking over $100 during Jonathan period. Then now use that to extrapolate how much PDP had to cushion the effect of naira falling and what modalities they put in place to keep production growing to be able to support the Naira.

Then we will now bring when Buhari came and crude oil sales fell drastically to Covid-19 era, and then now use that to arrive at all factors to now consider which is better or not.

Now tell me how much PDP government earned for their 16 years from crude oil sales since that is the main source of revenue for the CBN and then compare it to Buhari tenure revenue and then use those time value of money to infer which one is better. At least you know our earning power determine how much we have at hand to defend the naira.

Can you see we can take this argument to next year if you’re trying to check all parameters. That’s why it’s good to stay on topic.

tegrianonigltd:


28? How old are you ? Were you born in 2000s?

That’s around 89 naira pdp met it. Then in 2000 around 105 or so, clam down, pdp might not be saint, but they did a lot to hold it together. The three president from pdp were lots more smart economically then the two apc. No beef, I no be party member. But they were lots more smarter, the take decisions after analysis, meetings. Not just take irrational decisions and actions like the apc presidents. How on earth did you remove subsidy on day of inauguration. Without proper consulting, looking at the insights, read the dashboard and report.

We all want a better Nigeria, just like Lee and Deng gave Singapore and China respectively. We want that. Blackman is just not ready. During slave trade, we traded ourselves to the whites, we still do, take an example of Niger country. They have the resources, France is giving them aid.

Also tinubu government is defending the dollar seriously to impress the masses. I pray and pray it last, because it is against our foreign reserves.

These people hyping us know what they are up to.

So you have to be born in 1988 to know the value of a currency in 1999 when you have multiple sources online that can confirm same?

I have given my own evidence of the official exchange rate at 22-28 in 1999, bring your own evidence stating otherwise.

I am waiting!

Kukutenla:

When you were doing your Master in USA they did not teach you how to calculate progression abi?

If you are going to use the official exchange rate of 22 at 1999, then you need to be aware that the official exchange rate in 2015 was 199 and not 216. 216 was the parallel rate. Meanwhile official rate today is at 1200

To calculate the rate of depreciation in a currency over a period of time, you remove the current value from the initial value and divide by the current value to get your rate of depreciation. If you apply that formula, you will find that both PDP (0.88) and APC(0.83) are close in terms of depreciation. However, if you spread it over the number of years both have spent in power, PDP gets 0.055 per year while 0.092 per year. Thus it is easy to see that APC has devalued the naira at twice the rate of PDP per year. So which is worse now?

Also, in nominal terms which is the number of units of a currency required to purchase another, it is obvious APC is far worse. 22 to 199 is simple 177 while 199 to 1200 is a whopping 1001 nominal decrease in naira value. The nominal rate is the real rate that affects trade against other currencies as you should be aware with your Masters degree

I hope you can understand the calculations instead of brandishing one empty Masters degree. And i wonder when Masters became something to brag with. You know how many dullards even hold a PhD. Did you lots not call Jonathan clueless while he possessed a PhD?

Use your brain brother, it’s kept there to be used.

The reason I used N216 was because the person I quoted mentioned that and I just used the numbers. Now tell me the significant difference between 199 and 216 to affect my calculations. If 216 makes 8 folds, 199 will also dangle within 7-8 folds, so what are you talking about.

To your second point, don’t me a dullard. We are using term to compare and not actual time. The lady mentioned PDP met it at a value and APC term is still on and at this point is what we will use as our numbers. No one is asking for depreciation calculation. What gives you the assurance that it will be a linear progression? What if by the end of APC tenure (let’s say in 8 years time to make 16), they take the value down to N300? No law tells us the naira rate will always progress linearly.

The rest of your calculation are jargons because while trying to sound wise, you’re taking the argument to another context. What we are discussing is simple exchange rate fold increase per political party reign.

For my masters, I inserted that because of the nonsense you first quoted. You should tell us your own qualification instead of using Jonathan as a straw man.

Goodlady:

I don't think dollar to naira was N28 as at 1999.

Tell us how much is the official rate at 1999 with proof from legitimate sources.

I am waiting.

predictor1:
Weyrey, so your own dollar is #1900? I was wondering how he got his figures.

Don’t mind those guys. Only God know why they are using 1900 when the value today is less than 1200.

yad2eidi:
pdp increased it by less than 200 naira. why did apc increase by more than 1500?

You have to check the percentage and not absolute number. Hold dialogue like an educated entity abeg.

What 20 naira can do in 1999 is huge compared to what 20naira can do today.

The house you bought in 1960 in New York for $100k will be >million $ in 2024.

ArcSEMPECJ:



#28 -#216= -#188 ( 16 years)

#216 - #1420 = - #1206 ( 9 years)

16 years - 9 years.....7 years remaining

I thought it was only Hausas and Fulanis that are daft and Zombies when following their leader .....
Never knew the kissing has passed saliva to Yorubas .....

Is a shame...we now know the real enemies of Nigeria

So who told you that in the next 7 years, the dollar rate won’t fall to a low of 250 naira? Did they tell you it’s a linear progression?

At least think before typing jargons.

Kukutenla:

It is you who is poor at maths

You used 28 as the multiplying factor to get x8 for PDP

Then you used 216 as multiplying factor to arrive at x6 for APC

Why didn't you maintain the 28 as multiplying factor?

How did you pass WAEC?

You only proved that APC deteriorated naira at a geometric rate of 216/28 compared to PDP's arithmetic rate of 28

That's besides the fact that your N28 at 1999 is a lie

—If PDP took it from 28 to 216, that’s like 7.7x which is approx 8x. Meaning 8fold.

—If APC took it from 218 to 1200, that’s like 5.5x, which is approx 6x. It means 6 fold.

You should probably use your brain when responding so you can understand post before jumping to talk. By the way, I got my masters in Engineering in USA, maybe you can tell me your qualifications and level of education.

Lastly, my argument of 28 was based on the USA official report on their government website that placed official annual average dollar rate to 22 in 1998.

Oya show me your own rate in 1999 that said it’s over N80 for official rate.

https://1997-2001.state.gov/issues/economic/trade_reports/africa98/nigeria98.html

SadiqBabaSani:
I am saying that the government is trying to lie to us. There is no such person, they are telling lies to us to force those who have dollars to release it

They don’t need to tell a lie before those who have $$ release it. I’m sure people with $$ are not deaf and dumb.

If something can drop from 1900 to almost 1000, then no one go tell anybody to sell before doing so.

Reality will dawn on them by fire by force.

SadiqBabaSani:
Propaganda, we want to see that someone. shame on this government of propaganda

So you haven’t heard people saving $ to sell back when the value decreases?

That is the business of some people.

Have you been living under the rock?

REDshouse:
He can carry 2 sure odds with the remaining money and be safe

You sha want to condemn the guy totally.

Carry 2 sure odd and if he lose, you wan make them take his life join pay back the loan?

grandstar:


Wrong.

It was around 100.

The last time we daw it at 28 using the black market should have been between 1992-1993.

Official rate stood at 22-28 naira in 1999.

They should sell his bungalow and jail him if it’s not enough to pay his loan back.

Cantonese:


PDP left it at 194 in 2015. What's the margin please?

APC took it from there and in 8 years extended it to a world record breaking 1,900.

Why did they "left" it at 1900?

Is your own naira at 1900 currently?

Abeg shey make I sell you my $$ for that rate? Make I Paste account.

Lexicon123:
very good point on Wale Edun needing to up his game. I really haven’t seen any traction from the fiscal end. Depending only on monetary policies is unsustainable in the medium to long term.

I don’t think Wale is as bold as Yemi.

Or probably, it’s harder to effect quick change at that fiscal level because there are lot of variables compared to the CBN that a man can just whip at them.

Let’s see how it goes in the next few month and we will know what’s up.

chikason22:

Yourself you to lie. Give your life to Christ now before it's too late.
Your lies stinks so bad. These are the exchange rates from 1997 to date

I showed you confirmed US government source link, you’re sharing some nobody post on Twitter.

I can also go on Twitter and post it is $1 = N2, will you now say it’s the truth?

https://1997-2001.state.gov/issues/economic/trade_reports/africa98/nigeria98.html

overall90:
What is all this nonsense for goodness sake?
Is Airpeace asking for any form of bail out or assistance from the government at the moment?
All th

Yes, he requested for assistance.

I also believe what they did to Bobrisky is injustice.

They just find a common sin to hang him with.

Even tho he is a nuisance and he also always use the same state apparatus against people, the punishment meted against him still look somehow.

Before nko?

Tradition is tradition.

DMerciful:
The first news is the correct one before threat and brown envelopes

Lol 😂

DMerciful:

https://nairametrics.com/2024/04/02/naira-defence-to-cost-cbn-n1-01-trillion-in-interest-rates-from-q1-ntb-auctions/

You see why I say “Obi supporters” don’t have critical reasoning? Let me educate you.

—Treasury bills counts towards Nigeria foreign reserves.
—The same guy “Sam Tunji” that wrote this nonsense blog post retracted his steps and did another report the next day where he stated that Nigeria spent treasury bills to repay back ways and means.

https://nairametrics.com/2024/04/09/fg-spends-n4-83-trillion-from-bonds-treasury-bills-to-settle-borrowing-from-cbn/

—The report he initially gave from your link is the same sensational news the guy wrote. It’s fake news.

—They dip hand into the treasury bills and that affected our foreign reserve. There is different from naira defense.

ceragon123:
Having worked in the field as a telecom engineer, I want to say it here that glo has the worst network ever in the history of mankind.

Boss Mike Adenuga is a big guy but glo is rubbish. When Airtel, MTN and even 9mobile field guys are being driven to go to site to bring up sites which people's lives depend on, glo don't even care. It takes days for them to power up their sites. Do you know that glo switch off many of their sites in remote places which somehow help bad people perpetuate evil, just to save diesel that they still steal at the end of the say.. All they do is use the tax exemption to fees fat and share to celebrities for adverts..


The G2 (Hausa/Yoruba) are the Nigerian problem. They show strength when it involves the Igbos.

How can you compare Telecom and Airline industry? It's like comparing a fish and a beaver.

Reno is just a bad person.

What you just did now is “Yoruba hate”.

DMerciful:
You know its been defended but continue, lets see how far they can go

So you have no proof?

DMerciful:
The naira is still being defended. Infact its penny wise, pounds foolish because its been defended at a price that does not favour the govt nor the citizens

Yes just as how una dey adamant say your gbajue Obi won.

If they ask you for proof that Naira is being defended now, you go dey cry to CNN.

If na the article that guy for that blog wrote, Same guy don dey talk something else.

So tell me the mechanism CBN use in “defending” the naira. All the amount sold to BDC no even reach 10% of the actual market size for normal window.

Since you supported a third class Gbajue like Obi, I know you won’t know this.

DMerciful:
Was that not among the reasons Nigerians removed the PDP?

Then stop comparing PDP to APC everytime.

DMerciful:
Emefiele's policy eventually after rigmaroling

So na Emefiele policy make black market rate less than bank official rate?

Anybody supporting Peter Obi no dey ever reason well so I am not surprised.

Lol, leave one colonizer and romance another one.

SIRAO:


My brother stop arguing with nonentity , too not all earsterners 're against the government. only economic literate will understand the long term benefit of this government. it is not about tribe but competency .

today we have second Niger bridge, ph to enugu rail is getting ready, we 're about to have Lagos to calaber coastal road , for 16yrs , PDP it not remember us. kudos to president Tinubu. udo ga gachi

Abi nao