rhektor:


Even though the naira is weak in international trade, #750 will still give you a complete meal anywhere in Nigeria unlike one pound in the UK. The purpose of weak naira is to discourage import and encourage export. Y'all should just stop displaying ignorance on currency and purchasing power

Some of you are not very smart even though you claim to be.

You keep comparing countries like Japan and S.Korea that have deliberately weakened the value of their currency to the Naira that keeps free falling like a recently ejaculated penis.

While those countries have weak currencies, it will surprise you to know that they have been very stable over the past two decades.

In fact, the value of the Japanese Yen has increased by 4.1 percent since November 2001 which shows that it is a stable economy.

The value of S.Korea Won has decreased by only 0.76 percent since 2003 when compared to the dollar.

Compare these currencies with the Naira that has seen a decrease in value by a whooping 197% since 2003.

You are the one who should educate yourself on the subject of currency and purchasing power. You don't know shît about anything in this topic.

The fact that the CBN Governor has taken different methods over the past months to stabilise the Naira (though failed) should tell you that a free falling Naira is not the goal. It is rather the end result of failing system.

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

na human being carry this thing for 9months o.. Buhari that closed Benin republic border and opened left the border to his Niger brothers open abi.. Someone should have wore condom

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Is that the way to start local production? On top of what? Where is the power to drive it. Even if agricultural production is boosted, it's still won't get us anywhere because it's processing of agricultural products to high value products that bring money. People will just end up exporting raw agricultural products, which smarter foreign manufatures will now turn to high value products we will end up importing.

And borders up north were not closed. So, it's sectional Buhari as usual.

tragergeorge:
����e no reach...it's about 850 naira

For the the most expensive is N500.

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SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Truth is far from you.. He only close southern borders, allowed importation of cows for his kinsmen and also free in follow of Fulanis from other countries

rhektor:


Even though the naira is weak in international trade, #750 will still give you a complete meal anywhere in Nigeria unlike one pound in the UK. The purpose of weak naira is to discourage import and encourage export. Y'all should just stop displaying ignorance on currency and purchasing power

Yea, you got that right. But without the right policy, sound bank credit system and adequate power supply, no sound manufacturing for export will happen. The dumb and evil political elites loves the status quo.

I’m at £1 shop�

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

The best way to boost local production is to first provide security and adequate infrastructures, electricity for instance.

Individuals are ever ready to invest in building factories, but these discourage them. Once investors invest, local production are the same quality and more affordable than imported goods, automatically people will stop importing.

So there is no need to close the border. In fact the border closed affected mostly goods leaving Nigeria to other African countries.

aremuforlife:

Stop believing rubbish, you have just been fooled by your imaginary friend.
Even the pounds we are talking about, what can you use one pound to buy in UK?
We all know what we can buy with #780.
Devaluation of naira should be a blessing to us, but we are too lazy to work on the advantages.
Devaluation of naira is more profitable to diasporians.

Stop saying that, I am in the UK, with £1.60 u will buy enough chicken at Tesco dat will cook a full pot of soup.

Vinceobrian:


Stop saying that, I am in the UK, with £1.60 u will buy enough chicken at Tesco dat will cook a full pot of soup.

I am in Italia, you can't buy a full chicken for €2

Slavishbenin:

He's right, I'm in the UK mits costly to live here

Please come back home to feel what we endure everyday.

I need it

descarado:

Lol, there are so many things one can do with one pound in uk.
So many. For an expensive economy like UK, one pound means a lot to so many people.
What am I saying, 50 pence can get something for you.
What can one Naira buy for you in Nigeria?
Do u have one Naira coin or 50kobo with you?

Defenders of failure.

Hmmm

Alfamann:


Please tell us what we can buy with #780

one mudu of beans na

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

I am very sure that you neither export nor manufacture, because if you do you will know that cost of production I'm Nigeria is the highest in Africa.
how do you produce cheaper product that can compete with the rest of the world when you buy fuel to power your electricity, maintain your generator, pay double digit interest, pay double taxes also bribe police on the road from your factory to the port, settle ageros ( who collect local levy from truck drivers), repair trucks due to bad roads . I beg the list is endless. tell your government to fix all these mentioned above before you start talking of export or manufacturing

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

so how did our manufacturing sector fair with the border closure?

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

U close border for goods to come in evennwith the ecowas pact u signed, u still open border for animals, maruaders and killer herdsmen to enter causing seriou issues to agro communities...

No be juju and mumu be dat?

aremuforlife:

Stop believing rubbish, you have just been fooled by your imaginary friend.
Even the pounds we are talking about, what can you use one pound to buy in UK?
We all know what we can buy with #780.
Devaluation of naira should be a blessing to us, but we are too lazy to work on the advantages.
Devaluation of naira is more profitable to diasporians.

When u wan equate, try to be sensible please.
Equate one pound with one naira...
1pound can buy what in UK
What can 1naira buy in Nigeria....

Don't follow biodun's way of equating values.

Slavishbenin:

He's right, I'm in the UK mits costly to live here

Then come back to Nigeria..
Its cheap here.

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Both of you are bigot. Did anyone held his hands....he closed the border for a long time. But the northern border was porous. Does it make any difference?

Osinbajo was there for few months and economy picked up. How many border did he close before that happened. So the naira fallen now should be blamed on the suffering masses and not the president who is solely responsible for the security and welfare of the people.

Or you will blame the masses too for the insecurity?

BMC bigots

SlyDev:


Naira have been falling ever since and it will continue to fall except you invest in local production and start exporting

Says someone who will never buy made in aba shoe.

Nigerians r hypocrites..

aremuforlife:

#780 can get a plate of meal in Lagos and more in other part of the country, while 1pound can get you a plate of meal in any part of UK

1pound is equals to 780naira.
1naira is equals to what?
1pound can buy a tin of milk and other little grocery.
Can 1naira buy a tin of milk?
Or even sugar?

bolaayenimo:
A friend recently told me Zimbabawean money that is the worthless in Africa now has value than naira. I refuse to believe it

It's true. Check it on google.

aremuforlife:

Like I said 1pound means nothing in UK, just as 1euro means nothing in Europe, and 1dollar means nothing in US.

It means something if u can still find 1dollar bill in the country.

If it meant nothing, u wouldn't find it and they won't be minting a dollar bill or one pound coin or 1euro bill.
We dont have 1naira coin in Nigeria.
The least u can find is 5naira.

aremuforlife:

#780 can get a plate of meal in Lagos and more in other part of the country, while 1pound can get you a plate of meal in any part of UK

Hmmm bro I don’t think 1pound can get you a meal in England oh. Talking from personal experience

poiZon:

Says someone who will never buy made in aba shoe.

Nigerians r hypocrites..

Lol but honestly most people won’t buy it including me

GardenOfGod:
But i thought bubu says naija de export rice... Abi na lie?

Lol...

Vinceobrian:


Stop saying that, I am in the UK, with £1.60 u will buy enough chicken at Tesco dat will cook a full pot of soup.

Bro I doubt this mayne I had to check tesco website now, Omo I’ve lived in the Uk for years, 1 quid I doubt it can get one a plate of food from tesco oh

Messia:
I’m at £1 shop�

LOL do they sell chicken at 1 pound shop? I swear this shop exists in England but I’ve never been to it tho

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

and he opened northern borders for terorist in which you are a member. Getat ode

SlyDev:
If Nigeria want to make their money stronger, they need to stop importing and start manufacturing to export

But the last time Buhari closed border to boost local production, some bigots said he is targeting a tribe.

Before government can close border, at least, government should provide adequate infrastructure to help local manufacturers, what do you think is the reason for the high cost of items in Nigeria today?

Small business can not produce anything, in fact small business are dieing out. No light, no good road, banditry and kidnapping is another story for another day, fake product are trooping in the market everyday.

Why would government close border when they have not done the needful thing?

aremuforlife:

Nigerian don't need a strong currency, know this and know peace.
You comparing Zimbabwe situations to Nigeria means you don't really know what is happening.
Yuan is among the weakest currency in the world, yet their economic is among the first and second in the world.

oga stop spewing ignorance all over the place, how is Yuan the weakest currency when 1 dollar is only about 7 Yuan?