Naria is finished God help Nigeria

travelwaka:
We need to do something about the Naira

We need to do something about the Nigeria

igbosoupkitchen:


While.we are comparing the numbers of the curency can we also please compare the purchasing power??
We are quick to compare naira to dollar,cedis to naira, cefa,euros, gbp etc and we only do so in terms on figures.

Let me ask you,
I dollar is = 480naira (what is the purchasing power of both?
1 dollar can buy you a cup of coffee in the USA but 480 naira can buy you tea( coffee, lipton,milo and milk) +sandwich
1 dollar can buy you 1 or 2 bottles of water in usa but 480 naira can buy 6 or 8 bottles of water in Nigeria.
500 cefa can only buy you 1 bottle water which is 250 cefa and 1 bottle of malt drink 250 cefa,
500 naira in Nigeria can buy you water, malt,gala,biscuit,bread and akara/eggroll
100cedis in ghana cannot buy you what 9000 can buy in Nigeria, FACT

If not for our lack of productivity as a country we will not be an import dependent country aĺways seeking validation of foreign currency.

Very dumb analysis!

Spits!!! Its a pity that most Nigerians are this foolish.

travelwaka:
The moment you realize that an IPhone 12 is 1500 dollars where as it's 500,000 in Naira. Yours realize this analysis is just wrong. Your analysis only make sense to a Foreigner coming to Nigeria. But imagine a Business owner or manufacturer who used to buy a $100 resources at 15,000 when dollar was 150 naira then all of a sudden the same resources after 5 years is still $100 but it will now cost him and 46,000 naira which is triple the original price.

Whenever your currency is going bad it only favours foreigners coming into your country it doesn't favour the citizens.

From your analysis. A foreigner who can only buy 1 bottle water with 1 dollar comes in and all of a sudden he can buy 6, but you who is supposed to buy 6 goes into the international terrain, you can only buy 1.


Lastly if you are talking about purchasing power , you are supposed to pair it 1 naira to 1
dollar and not 1 dollars 480 naira .

Think about this your analysis again.

I remember exchanging this money at the border around 2014... We had a lot of advantages with a stronger currency... If I had like 1000 CFA on my return, I do not bother exchanging it because to me, it was not worth the effort.. now, the naira dey drag with CFA.. I do not still really understand the extent of the Nigerian problem, but this really hit home.

I also read that income did not increase in the same direction as the money.. My question is. Nigerians, how are you surviving? If Nigeria were not a zoo, Aso rock would have been on fire by now.

Chai....naira don turn opo.

travelwaka:
lalasticlala See the cost of naira and Benin Republic Cefa. Our currency is going on a free fall against every currency.

Thanks to almighty 'Next Level', the dividend of APC/Buhari's government, Nigerians asked for it.

Toh

What pains me is that every new year, people will come up with prophecies of a better Nigeria, the more the prophecies, the more our money keep depreciating. Cefa that has no value to compare to Nigeria few years back, is now equal. Nigeria is gone.

Naira has being in decline since it's introduction. And Nigerians love for imported stuff is as deadly as the devils love for sin. Even retailers promote imported stuff & discourage u from buying local


I assure you, If there is foreign imported air, Nigerians will be one of the biggest improters in the world.


Even in this NAIRAland one block head was advertising "imported" popcorn. Just imagine the bullshyt!

travelwaka:
We need to do something about the Naira

is it just the naira? he naira is just a child problem to the bigger parent problem, which is disintegration

Thats not entirely the problem. Our current problem is failure to restructure the country

SUPERPACK:
We are just suffering from Dutch Disease. It can happen to any country or state. Our inability to diversify from oil kept us were we are now.

G

igbosoupkitchen:


While.we are comparing the numbers of the curency can we also please compare the purchasing power??
We are quick to compare naira to dollar,cedis to naira, cefa,euros, gbp etc and we only do so in terms on figures.

Let me ask you,
I dollar is = 480naira (what is the purchasing power of both?
1 dollar can buy you a cup of coffee in the USA but 480 naira can buy you tea( coffee, lipton,milo and milk) +sandwich
1 dollar can buy you 1 or 2 bottles of water in usa but 480 naira can buy 6 or 8 bottles of water in Nigeria.
500 cefa can only buy you 1 bottle water which is 250 cefa and 1 bottle of malt drink 250 cefa,
500 naira in Nigeria can buy you water, malt,gala,biscuit,bread and akara/eggroll
100cedis in ghana cannot buy you what 9000 can buy in Nigeria, FACT

If not for our lack of productivity as a country we will not be an import dependent country aĺways seeking validation of foreign currency.

if their 1dollar can buy them 1 or 2 cans of water, can our own 1naira buy us 1 or 2 cans of water?

Rathe ask yourself what are the benefits of a STRONG currency! And why are Japan and China keeping their currencies weak

Best thing you can do in this country is get a business that pays in dollar , check my bio

SUPERPACK:
We are just suffering from Dutch Disease. It can happen to any country or state. Our inability to diversify from oil kept us were we are now.

Inability koh, or laziness by the northern oil oligarchs. The large expanse of land they have is an inability ba? Our government policies that stifle the growth of southern entrepreneurs nko? Our major source of income comes from the customs service because we’re an import dependent economy. That’s why our currency is on a free fall.

we warned you all not to vote for Buhari

Back in 2012, N1000 will fetch you N3000. Now it will fetch you only N1100. Small time CFA will be stronger than naira. Who do us this bad thing?

igbosoupkitchen:



Yes, I am talking about purchasing power and noone pairs 1 dollar to 1 naira, else we wont be having this conversation.

Read your analysis again..

That guy knows nothing about purchasing power...his analysis was making sense until he got to the last bit

igbosoupkitchen:



Yes, I am talking about purchasing power and noone pairs 1 dollar to 1 naira, else we wont be having this conversation.

Read your analysis again..

Save your energy. Most Nigerian graduates are totally clueless on exchange rate. My head aches whenever this argument comes up. In fact, I don’t indulge in it again. I just look and pass.

His reply made my head spin. Thank God I didn’t smash my phone.

I'm still trying to understand what keeps bringing naira down

Grace001:
Naira and cefa is now almost the same. 1k Naira is equivalent to 1,100 francs cfa

1million cfa is equivalent to 880k Naira blackmarket rate

It makes living unbearable for Nigerians in Benin.

The good thing about that country is that inflation is very low, the price of commodities slightly change in price not like Nigeria

You are wrong!! Nigerians resident in Benin Republic but coming into Nigeria will be favoured by the drop in naira. It only affects you as a Nigerian if you are a going to Benin Republic newly.

Mathematically they they’re are almost equivalent but residing in both countries you will agree with me that the spending power is very different. Naira has more value in Nigeria and has no value in Benin for instance you can get a hotel for 6k naira fully air conditioned in Nigeria but in Benin a hotel of 13000cefa doesn’t have air condition. A big bottle of water in Nigeria cost about 170naira but 500cefa in Cotonou. There’s higher standard of living in Benin. I think there minimum wage is high to cushion the effect

Gbajure:
Rathe ask yourself what are the benefits of a STRONG currency! And why are Japan and China keeping their currencies weak

The problem here is how the naira is nose diving at the speed of sound. if last year, u had 100 dollar worth of naira in ur account, today that money is just worth $60.

Big powder Peak milk way I bought for about 5k early last year, Just a few days ago tried to restock and it's freaking 10k naira! . Price of everything don double. it shock me

travelwaka:
The moment you realize that an IPhone 12 is 1500 dollars where as it's 500,000 in Naira. Yours realize this analysis is just wrong. Your analysis only make sense to a Foreigner coming to Nigeria. But imagine a Business owner or manufacturer who used to buy a $100 resources at 15,000 when dollar was 150 naira then all of a sudden the same resources after 5 years is still $100 but it will now cost him and 46,000 naira which is triple the original price.

Whenever your currency is going bad it only favours foreigners coming into your country it doesn't favour the citizens.

From your analysis. A foreigner who can only buy 1 bottle water with 1 dollar comes in and all of a sudden he can buy 6, but you who is supposed to buy 6 goes into the international terrain, you can only buy 1.


Lastly if you are talking about purchasing power , you are supposed to pair it 1 naira to 1
dollar and not 1 dollars 480 naira .

Think about this your analysis again.

Wonderful, I love your analysis sir.

SAI BABA!!!!!!!!!!

Ole ihe unu sikwanum mee?

igbosoupkitchen:



Yes, I am talking about purchasing power and noone pairs 1 dollar to 1 naira, else we wont be having this conversation.

Read your analysis again..

You don type rubbish, accept
U compare 1 naira and 1 cedis but u use 480 naira compare..
read your analysis again

The monetary policy of Nigeria was made to get the naira lower to other nations of the world currency, by making investment and other foreign innovation easy for investors. I tried to argue it out, why not redenominate our currency and same reason they keep saying that govt wants people to come to buy things at cheaper prices here both Africans, Europeans and Americans to aid investment. In that way, our money can have value and be relevant to other nations. That's why the comparison of the purchasing power of cedes and naira cannot be the same. It has both advantages and disadvantages I just feel it's away too far.

travelwaka:
We need to do something about the Naira

we need to? You are shying away from reality.

How is this news?