illicit:
500 naira food for buka no belleful again o lol

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://www.nairaland.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

ijustdey:



https://punchng.com/forex-average-nigerian-can-feed-with-n500-naira-still-strong-cibn-ex-president/

Unfolding:
Intellectually bankrupt banker !!
Our intellectuals are soo disconnected from reality. If naira is strong because people can eat with 500 naira. What of the 27.4 million Nigerians that earn less than 100,000 per annum? It means this category of people can only spend there money on food and will only eat once every two days....You see, even the local value of naira is very week. If the president of Charters Institute of Bankers can talk like this, then we get big problem.

mcbreeze:
Some people go school to get confused on the already confused brain.

Certificate doesn't cure foolishness

mcbreeze:
Some people go school to get confused on the already confused brain.

Certificate doesn't cure foolishness

descarado:
That's what they told him to say or they will disgrace him out of office.

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://www.nairaland.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

HedwigesMaduro:


Your analogy (or that of the other guy you referenced) sounds like bs to me. Let's reason it; if what you bought for 500 naira hypothetically costs 8 pounds (which is around 4800 naira or so. By value, you'll feel it costs more in pound, right? But let's check: the minimum wage in the UK is around 8.71 pound per hour. Is the minimum wage in Nigeria up to 500 naira per hour? Are you getting my drift?

ijustdey:



https://punchng.com/forex-average-nigerian-can-feed-with-n500-naira-still-strong-cibn-ex-president/

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://www.nairaland.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

ANDREW91:

He is talking trash.
Alot of people earn less than 500 by day
So how do u expect dem to feed.
There nobody in the US dat earn less than a dollar per day

ANDREW91:

He is talking trash.
Alot of people earn less than 500 by day
So how do u expect dem to feed.
There nobody in the US dat earn less than a dollar per day

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://www.nairaland.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

RiceProducers:
People working for me buy lunch at less than N500. I personally make my own breakfast for about N350.
Nigerians should stop emoting and start using intellect. When you emote you will tell lies because you are not strong enough to face facts and tell the truth.

Meanwhile it is a global problem. Please let Google be your friend. Currencies are depreciating and inflation is high everywhere

Ade3131:


He's speaking from a platform provided by NTA for crying out loud....what would any sane minded Nigerian have expected?

RiceProducers:
People working for me buy lunch at less than N500. I personally make my own breakfast for about N350.
Nigerians should stop emoting and start using intellect. When you emote you will tell lies because you are not strong enough to face facts and tell the truth.

Meanwhile it is a global problem. Please let Google be your friend. Currencies are depreciating and inflation is high everywhere

ijustdey:



https://punchng.com/forex-average-nigerian-can-feed-with-n500-naira-still-strong-cibn-ex-president/

Kelvinhunta:
He said average, we know what it means to say average. Some will earn above while some will earn below,the point is can 1doll buy same things in USA as it would buy in nigeria?

bukatyne:


Is it a disconnect though?

Does he feed his family with N500 per person per day/meal?

He is talking of CBN rates:

When he travels to the US or shops on foreign sites, during conversion, do they use CBN rates? Or Aboki FX rates?

Is he claiming that speculated rates are respected outside the country than CBN rates?

Same CBN rates that are artificially low so that those in power/have influence can buy at a reduced rate.

This crab mentality will take us nowhere!

ijustdey:



https://punchng.com/forex-average-nigerian-can-feed-with-n500-naira-still-strong-cibn-ex-president/

RiceProducers:
People working for me buy lunch at less than N500. I personally make my own breakfast for about N350.
Nigerians should stop emoting and start using intellect. When you emote you will tell lies because you are not strong enough to face facts and tell the truth.

Meanwhile it is a global problem. Please let Google be your friend. Currencies are depreciating and inflation is high everywhere

Decentdave:
The guy is saying the truth from an intelligent angle
Most commenter here won't understand because they are OND holder

ANDREW91:

It is easier to get a dollar in us dan in Nigeria