₦airaland Forum

edoairways:
Correct

He is not correct.

The "economic strength" is a term used by the IMF to deceive us.

Most of the rules where written to favor only the white people.

Its all about knowing our rights and fixing the exchange rate in our favor,

Use your head.

Some of these Arab countries we worship are not better than us economically,Even SA is not better than us.

They are just downplaying the achievements of Nigeria,

Think outside the box.

Its all about wise leadership.
Trump and co call it currency manipulation to discredit the efforts of their perceived rivals.

edoairways:
The bank of Ghana removed the last two digits in their currency.

But that country is getting better and better than us every day.If the removal of the last 2 digits as you claimed is worthless it would have backfired on them.

I hope you are seeinh 1000 naira to a $1 very soon.

LETS THINK ABOUT THE FUTURE OF NIGERIA.

You wan dey buy a bag of fertelizer grown rice with 50-100k?.

The truth is all these inflation can be diverted by a smart government.

Their is so much money in Nigeria,dont let the government deceive you.

Our govenment is hidding our real figures or not taking them into consideration.

theenchanter:
Ghanaian cedis is not strong.

But its givig its citizens a brighter future and hope/better life.

Nigeria should stop devaluting their country,no matter what.

If countries like China,Japan and co will break all the rules for the sake of the survival of their economy we should do the same.

We shouldn't make the IMF and co our slave masters.

We are not the only country owing.

joyandfaith:
we need to export more to have stable fx. our corrupt economists will not say the truth.

Correct.

We should also import less from them.

FG should revalute the naira and keep it stable for years.

The countries in Africa play to easy with the laws associated with inflation and deflation.

We are too quick to reduce the value,ex rates of our currencies after every little set back and do nothing to restore our ex rates the moment we overcome our obstacles.

If the Naira will remain at this ex rate for 20 years many Nigerian willl be free from poverty.

We need stable fx rates.

theenchanter:
bros, I don't want us to drag this issue.

But if u think d Ghanaian cedis is valuable than d naira, just select some global goods and compare d prices of those goods in Nigeria and Ghana.

Please help me check it.

Life in their country is berra than ours becos of great ex.

Dev countries in Africa must have a great ex rate else poverty will ruin us.

We are taking about price stability here.

theenchanter:
u're poor in economics cos u don't know d diff between "exchange rate" and "value of a currency". And yes, d nigerian naira has more "value" than d ghanaian cedis.

How?

Value is tied to price in biz/econs my brother.

In some cases the ex rates dont mean higher value in reality,but the naira/cedi case is diff.



eg Gold is higher than silver.

No wise man will keep in money in an economy where depreciation of her currency is endless.

No wise business man will keep the Naira because its highly unstable,they will opt for the cedi instead.

The exchange rate of Gh has sid it all sir.

Foreign investors will pick Gh over Ng any day.

The fact that you spend more Naira to buy the Cedi meanS the Cedi is of a higher value than Naira,else their will be no need for such a transaction.

CilicMarin:
Ghana redominated their currency by removing 0000.....That is not an economic. Improvement...

If they redominate the Naira poverty in Nigeria may reduce by almost 30%, and if it remains stable poverty will dissapear gradually from the country.

One of the reason why Nigeria complain of endless poverty is because the naira keep loosing its value.Whatever Nigerians save and invest in will be eroded by the forces of poverty disguised as hyper inflation.No wonder Nigeria is the poverty capital of the world.

The multimillionaire with 5 million naira in his account in 1991, is now poorer because of the forces of inflation.

Ghana predominating their currency is a big economic improvement.The moment they made that move,MANY companies relocated from Nigeria to Ghana.Today Nigeria is the poverty capital of the world,while Ghana is growing above that class.

That great revaluation move attracted lots of foreign investments.

So its a big achievement for Ghana.

GamalNasser:
And where did you get the idea that the Nigerian Naira has more value than the Japanese yen from? You Nigerians like living in ignorant self deceit ..you came here to open thread without first even checking the facts

Pls focus on the msg.Years ago the Naira was higher.Although thats not an excuse.

The value of the Jap Yen @ y1 to N3.59 is shocking despite their huge scale development.The value of the Japanese currency should be higher na.

These guys are manipulating their currency to their favor,while our Nigerian leaders are manipulating our currency to the favor of the west.

Bottomline:Nations can fix their exchange rates their way.

Nations are not tied to any econs law.

The Japanese currency is a mistake i will correct it.

Some years back the naira was higher than the yen.Sorry guys

How come the Ghanian cidi is way higher than the naira when we have a solid economy than them?.

We better than the Ghanaian in almost every thing na.

The Japanese currency is a mistake i will correct it.

How come the Ghanian cidi is way higher than the naira when we have a solid economy than them?.

We better than the Ghanaian in almost every thing na.

theenchanter:
this op is very poor in economics. Those asian nations deliberately lower their exchange rate cos they're goods producing countries. Its easier to redenominate one's currency but its d strenght of d economy that'll sustain it.

You are the one very poor in economics.I stated that fact in my write up.

strenght of d economy that'll sustain it

The strength of ones economy has less to do with the value of the currency.
ask Ghana.

Its all about intelligent mgt.

OgbanjeProphet:
That is how it supposed be!


After serving OGA, BOYI must be OGA!

That's the joy of The Igbo BOYI system!

Who one kill this pikin na?

Good day every body.

Here is the shocking truth,the exchange rate of a nation/value of their currency is not tied to the performance of the nations economy.

The economic health of a nation can not determine the value of their currenecy.

A country can be doing very well and still decide to have a very low exchange rate/low value of their currency.A good example of such nations are China,Japan and Korea.On the other hand a country can be performing averagely or badly and still fix a very high value for their local currency.Ghana is a good example of such a nation and many Arab/northern African countries.

The Japanese economy is way,way better than the Nigerian economy yet the ex rate of their currency doesnt reflect this reality.

The Chinese,Japanese,Koreans have decided to maintain a lower exchange rate that doesn't correlate with their economic development/success, because of trade reasons.These countries are economically developed countries so the value of the currency should be in the same league with the Us,Britain,but they choose the other routes because it will favor their economy.

The Chinese and co, intentionally maintained a low value of their currencies in order to out sell their rivals in Europe ans America.

The Nigerian economy is better than Ghanaian economy yet their currency has a higher value than ours,because they are wiser with their economics.

We have been made to believe that the reason why the value Naira keeps plummeting is because of the poor performance of the nation,but the truth is the Nigerian economy handlers are a big economic disaster.Nigeria is not doing badly as most people think,our privates sectors are one of the best performers in Africa.

Despite our poor economic condition as they claim we can still fix a very,very reasonable exchange rate for the country.We must use the economic laws to our advantage,not to our disadvantage.

In a world where nations fix the value of their currency,we leaders should act wisely and fix a reasonable exchange rate that will remain stable for decades.

Handlers of the Nigerian economy have been hurting the nation with their continuous acceptance of the devaluation of the Naira. If the handlers of the Ghanaian economy are wise enough to make wise decisions our own should not be different.

Having lots of degrees doesnt make a man economically wise/honest.The so called academia's must be relegated to the class rooms for Nigeria must progress,because they got their certificates from the class rooms,not through practice.Kindly note:Most of the richest men in the world,who are impacting the global economy with their innovative ideas dont posses much of all these class room degrees.

Its obvious the "Professor" titles dont bring professional Nigerian solutions to the country.

The Nigerian currency must not be devalued when ever their is a small economic problem.
Nigeria is still trying economically,check our various privates sectors you will find development,innovation and progress.

See their excuse/reson.

Petrol should be way,way cheaper in Nigeria .

Where are all the refineries the president promised?.

Nigeria is over.

Femi A is a waste.H e is even worse than the Nigerian politicians.

He is highly creative,He has not done anything for Africa with all the resources allocated to him.

We have an African problem here,which is very, very serious.

African leaders in every office hate the progress and development of the masses.

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Berryli:
Few weeks to my 25th birthday, last year, I ran into my Neighbour and we exchanged numbers, then the chatting began, we became friends and he offered to take me out on my birthday but It didn't happen.

Fast forward to the lockdown, I would go visit him we would chat and he appreciated my company as he was alone. He eventually started to make moves, getting all touchy which got me a little surprised and uncomfortable since as friends that was improper, which got me thinking if he wants more than friendship.

He has a great career, intelligent and all but not my spec, and I'm not attracted to him. We are very different people, socially and even our views about life. I enjoy his company but that's all there is. As a result if I use to visit twice in a week, I reduced it to once in two weeks and eventually monthly, and reduced the chats just to not give him the wrong impression.

He stylishly refer to me in future as his wife. What do I do? Is he starting to have feelings for me and how do I stylishly turn him down since he hasn't asked me out or do i wait for him to do so? cos there are people who just draw close and start dating without d while toasting stuff or is it just his flesh loosing control, which I doubt cos I try to be as decent as possible wen visiting him.

Do I just go with the flow since I'm currently not in a relationship? But won't that be me deceiving him and myself cos I don't like him in that way. or I'm over thinking the whole thing?

Erica wetin you dey do for here?.

mabeni:
i went to Alaba international market to buy a set of Tokunbo Home Theatre. Luckily/ unfortunately for me i asked around and i was directed to a shop where i would find my choice. I got to the shop and i specifically told them I want a SAMSUNG Home Theater and the search began. They tested 3 diferrent sets but the last one got my attention and I asked for the price.

The seller (shop owner) told me it was 55k and i negotiated it to 25k and he asked me pay. I requested for his account details but he declined saying he doesn't take transfers. I quickly went to use POS, came back and asked for the SAMSUNG SETS i had priced be tested to avoid foul play. It was tested and i confirmed it. I paid, receipt was issued to me but without going through my receipt, I wrote my name and signed because i never suspected scam.

Now, it was time for me to leave with my purchases and the boy boy told me "the engine/DVD to the home theater i bought does not support or work with electricity but strictly works for only generator ". I asked him to repeat himself and he did. The statement didn't make sense to me. He then suggested he could swap the engine/DVD of the SAMSUNG Home Theater i bought for another one that uses electricity. I sensed foul play and asked him why he didn't tell me these before making payment.

Note: the owner of the shop had gone out when boy boy was telling me this.
Luckily, he came back to meet us arguing. I narrated what his boy told me about the sound system they sold for me he affirmed to it that the engine/DVD doesn't use electricity. I got confused and demanded for a refund. These guys refused. Insisting I take another DVD...i refused either that i preferred what i bought. They refused me going with what I bought. This infuriated a lot of noise and here comes in an elderly man who claimed to be the landlord of the shop.

He asked me what was wrong, i told him and he slapped the Boy boy. At this point, i knew I was being scammed but was helpless as well. It was just only me against Alaba boys. The elderly man asked me to calm down that he was there to help me out bla bla bla and requested to see the receipt that was issued to me me. Lo and behold, the subwoofer and the other 3 small speakers was not included in the receipt. They only wrote the engine/DVD they claimed doesn't use nepa light and even boldly put NO WOOFER & NO SPEAKERS. (indirect or indirectly, i only paid 25k for just the DVD player )

The truth was, i never saw these errors before the arrival of the elderly man. he pointed out the errors and finally told me they don't refund money in ALABA that it was all a trick and the trick was for me to pay any amount cos the sound system i bought was more than 25k that i would have to add more money for me to go with it. I insisted i don't have more money to add and they insisted i take a Chinese product. I no gree.

To cut it short, i finally found out the elderly man was part of them. His job was to distract and calm their victim down. At the end of it all, i only got the subwoofer and 3 small speakers. The ENGINE/DVD was not given to me.

This was my sad experience today in the hands of some heartless Nigerians.

That is the face of the SHOP OWNER. TRUE CALLER shows his name as BEN.


acunnon, do you know this man?

IBOS HAVE NOT EARNED THE RESPECT OF NIGERIANS.

EVEN THE NIGER DELTANS GAT NO REP FOR THEM.

A good name is beta than silver and gold.

mabeni:
honestly, i would have if i had my way. The money pain me to my marrow. I couldn't sleep. Cried through the night. Make i no lie you, i for do that man juju if to sey i get. Though, i have reported this to EFCC and policeng on social media,. E pain no be small

Thats the problem.When they do all this evil they dont pay fro their sins.

Juju would have been the best option bro.

You guys will never get justice unless you seek for it.

Blast his generation with Jazz.

anonimi:
Why is there manslaughter and murder in the 1st, 2nd and 3rd degrees, with different judgements, even though they are all for the same crime of killing someone else?

Abobi wayo dey inside every thing.

I no be lawyer.

A communist system of government will correct all the errors in Nigeria.

Pls lets start something.

morgstreme:
Intelligent leaders like GEJ,awa blooder?

Abi Atiku?

Or OBJ that doesn't reinforce failure?

They are all the same.

anonimi:
Their choice!
Their consequences!!!


www.nairaland.com/attachments/10586428_fbimg15736654320838424_jpegd42241580d772ab6f2e4383c755894e8


www.nairaland.com/attachments/3929046_image_jpeg9f360c5ab7736510df54c882e9dbf188

AMEN

morgstreme:
Those countries in Asia/North Africa..

What is their GDP, Population

Nigerias manufacturing index is still low compared to most advanced industrialised nation..

Hamburg alone,in Germany has a bigger manufacturing index than the whole of Nigeria and Ghana our together..

Do some more research..

Those countries in Asia/North Africa..

What is their GDP, Population

Its not about those these things you mentioned.

Do you know that every nation has the right to fix the value of their currency as they wish?.A good example is Ghana.

Its all about intelligent leadership.

We are not doing as bad as they claim/think.
Nigerian business are working very hard.

[b]Nigerias manufacturing index is still low compared to most advanced industrialised nation..[/b]

The mistake we/them make is comparing our economy to their economy and vise versa.They also use this comparison as an act of deceit and shaming.

Their are multiple nations in Asia/Arab/North Africa whose manufacturing index cant be compared to the dev countries,but they have a solid economy because they are smart.

morgstreme:
You are a DOLT..

Pls at what rate do you say a country passes through hyper recession?

POVERTY BASICALLY OVERCAME NIGERIA BECAUSE WE WERE PRACTICALLY PRODUCING NOTHING...We even stopped refining the ONLY major thing that gave us Petrodollars..

The naira has been "devalued", directly and indirectly,since 1986 starting with the Structural Adjustment Program and MAMSER..

That was the beginning of the negative slide of the naira..You obviously was not yet born then..

Stop being a Knight in Shining Stupor!

Why should I even be bantering with a young digbat like you


I don't understand why a foreigner like you will be so interested in what goes on in our country..

Go and face your online country and your miserable coward of a dilector..

You have been feed with the wrong info bro.
Their are countries in the Arab world,Asia, and North Africa who are not manufacturing half of what Nigeria is manufacturing yet they have a better economy.Its not all about manufacturing capacity but intelligence and proper management.

Nigeria is trying when its comes to manufacturing,dont let them deceive you.We are doing it better than some of the countries.

continuous Bad leadership is the main problem.

We have countless manufactures in Nigeria,we also produce 95% of our food.

Some contries produce/manufacture less yet they are doing good.

The naira has been "devalued", directly and indirectly,since 1986 starting with the Structural Adjustment Program and MAMSER..

Intelligent leaders wouldn't have tackled the nations problem with this strategy of devaluation you mentioned.It was a trap and totally unintelligent approach.But they did,because they where reasoning like you.

morgstreme:
Mr Minister of Economics, we as a nation are in "hyper hyper" recession, because your sordid brain said so..You pray so much for disaster in your nation while still wailing..

FOOOL...

There is no such thing as at the agreed time,nations in recession will bounce out..who agreed the time,you NUMBSKULL

Where did you attend secondary school in that hamlet riddled Village of yours?

Pls if what Canada,UK, Argentina, Uruguay etc is passing through isn't recession,what is

Have you ever been to Europe?

Who is this "village dwelling mongrel" spewing

Nairaland is your meeting apex of smart ones? hehehehehehe

See...

The fees wasted on your Glorified schooling all your life shouldn't have been wasted on you..

A beans plantation should have been grown for your personal daily consumption..

Beans helps with Brain Development!

You are dumb,you need to grad again in 2027.You need it.

You are comparing uk staged recession to Nigerian constant hyper,hyper inflation(REAL INFLATION).

The Nigerian Naira has lost more than 40,000% of its value since in came into existence till this day.

Never compare the Nigerian economy to any Economy in the developed world.

Na una dey spoil this country.

Bad belle

]There is no such thing as at the agreed time,nations in recession will bounce out..who agreed the time,you NUMBSKULL[/b]
what do you know about the econs and biz in the dev world?.
Reccesions in the dev world are enacted by some people/govt.
I for teach you some things, but you dont deserve them.

morgstreme:
Kitikpa lacha otu nne gi ebe ahu..

Canada is in recession..

UK is in recession..

SA too

Argentina, Uruguay,Quatar...

Where were you in 1997...

That's when I left the University..

KIDULT!

Their is a diffrence between reccesion and hyper reccesion,oga.
Nigeria has been passing throug hyper,hyper inflation till this very day.

They man that saved 1 mill Naira in his bank in 1997, is a poor man today.

This is one of the reasons why poverty has overtaken Nigeria from front and behind.

This is the state of the Nigerian economy till today.

1997?
I will suggest you gradute agian in 2027.E go help you.

Never support evil.

Nigeria need 100% new leaders.

morgstreme:
Kitikpa lacha otu nne gi ebe ahu..

Canada is in recession..

UK is in recession..

SA too

Argentina, Uruguay,Quatar...

Where were you in 1997...

That's when I left the University..

KIDULT!

If what they have in the UK is reccesion,what we have in Nigeria is hyper,hyper recession,go and check the difference via google.

You call that thing they are passing through ressesion?.I guess you dont know the meaning of recession.

Can you compare Nigerian reccesion to the Uk reccesion?.

Whats the rate of inlation in the UK?

These guys are the controllers of the world,they dont have any problem.At the agreed time they will bounce out of their recession movie.

Met some smart NL to lecture you on econs,you need it.

Dont post anything again.

If you dey support this president and you are brooke/unemployed.May your situation remain permanent for ever and ever.

AMEN
Signed by all the host of Angels in heaven.