₦airaland Forum

fr3do:
You have it mixed up.

a weak currency is favourable to a country that exports a lot of finished products like China, that deliberately weakens her yuan.

But for a heavily import dependent country like Nigeria, a weakening currency is doom and gloom, the effects of imported products becoming more expensive will plunge more people into poverty. This inflation will overwhelm the benefit of exports becoming more attractive to foreign buyers.

A weakened currency makes exports attractive, however a country must have the infrastructure and capacity to produce suitable exports in the first place.
A weakened Naira will not make cheap steady power, good transportation systems and infrastructure needed for production to materialize out of thin air.

fr3do:
A weakened currency makes exports attractive, however a country must have the infrastructure and capacity to produce suitable exports in the first place.
A weakened Naira will not make cheap steady power, good transportation systems and infrastructure needed for production to materialize out of thin air.

Makes which export attractive. USA for kukuma allow naira to overtake the dollar. UK for allow naira to overtake the pound.

How many things were African countries exporting to Nigeria when naira was stronger than CFA? No allow those morons confuse you bro. No need for argument

A big Shame to Nigeria

SpecialAdviser:
Makes which export attractive. USA for kukuma allow naira to overtake the dollar. UK for allow naira to overtake the pound.

How many things were African countries exporting to Nigeria when naira was stronger than CFA? No allow those morons confuse you bro. No need for argument

That's why I quickly dismantled their argument.
It is all spin, they've arranged talking points for them on their WhatsApp group.

Nigeria is even importing from these neighbouring countries you all are talking about exporting to.

FreeStuffsNG:
That's good news if you know about economics and the Afcta
There is no point having a strong currency when you are not producing for exports. Nigeria is taking over their markets with cheaper goods than the ones they import from France. The worst hit will be our immediate neighbor's

How will Nigeria take over their markets when local prices here have also increased and even doubled in some cases?

For instance, if a loaf of bread was selling for 700 Naira prior to devaluation and it's price rose to 1000 Naira after devaluation, what makes you think there will be a difference in price for the foreigner who would still need to pay for increased freight?

Yes only the Nigerian will be made to pay more from his already diminished resources due to I'll thought out policies. This is why Labour is demanding for increased wages.

It's like in a bid to support APC 's maladministration, you just rush to type nonsense without even thinking it through.

Kukutenla:
What is this guy saying
You said we don't need a strong currency because we're not producing for export while you still claim we'll take over their markets with cheaper goods.
You sound confused

A typical ga"ze" lle gar"ran'gaja supporter

Tochi3:
A typical ga"ze" lle gar"ran'gaja supporter

Those guys are sick aswear

abobote:
Over a year ago

You mean it's been long?

Zxcvbnmghtr:
It favours Nigeria. It's a good news if you have been doing business with francophone countries you will understand.

motherfucker how?
count me out of pple u cn brainwashd. Most of my friend in cote d'ivore are now happy as a result of naira fall against cfa. Naira has value than cfa b4 dz recent fall nd its spelling doom 4 our economy.same way u pple said floating of naira wl make it gain value bt here we are!

Na old story be this naau

SpecialAdviser:
Those guys are sick aswear

Worst more than Satan himself

StarRiderr:
Na old story be this naau

Haaa. I never knew oooo. When did it happen bros?

FreeStuffsNG:
That's good news if you know about economics and the Afcta
There is no point having a strong currency when you are not producing for exports. Nigeria is taking over their markets with cheaper goods than the ones they import from France. The worst hit will be our immediate neighbor's

The person behind this Monica need koboko
What rubbish!

FreeStuffsNG:
That's good news if you know about economics and the Afcta
There is no point having a strong currency when you are not producing for exports. Nigeria is taking over their markets with cheaper goods than the ones they import from France. The worst hit will be our immediate neighbor's

U need to go back to school for saying this.

DAREH13:
motherfucker how?
count me out of pple u cn brainwashd. Most of my friend in cote d'ivore are now happy as a result of naira fall against cfa. Naira has value than cfa b4 dz recent fall nd its spelling doom 4 our economy.same way u pple said floating of naira wl make it gain value bt here we are!

Sure they will be happy. And we that are doing business with them are so happy too. There is usually a lot of patronage from Francophone countries when it happens like this. Alot of patronage which translates to a speedy rate in making gains in your business. You can't understand unless you are doing business with all of these Francophone countries.

Nigeria doesn't go to them, they come to us. And the more the find it easy to come for our goods, the better our business.

Zxcvbnmghtr:
Sure they will be happy. And we that are doing business with them are so happy too. There is usually a lot of patronage from Francophone countries when it happens like this. Alot of patronage which translates to a speedy rate in making gains in your business. You can't understand unless you are doing business with all of these Francophone countries.

Nigeria doesn't go to them, they come to us. And the more the find it easy to come for our goods, the better our business.

carlous,inexperienced fellow that's what u are. 70% of rubber slippers +wax materials among other things are being import from them,
why closure of seme border inflate many items in the market? Ur beer parlour economy analysis defined where u belong! Quote no more.

DAREH13:
carlous,inexperienced fellow that's what u are. 70% of rubber slippers +wax materials among other things are being import from them,
why closure of seme border inflate many items in the market? Ur beer parlour economy analysis defined where u belong! Quote no more.

Your comment above shows that you are very, very narrow minded and have no clue at all.

Do you know the influx from Niger, Benin, Togo, Burkunafaso, Ivory coast into Nigeria? Of which some of the businesses that brings them into Nigeria is as a result of their harsh climate that have made it uncondusive for some branches of Agriculture to flurish in the their country? Take for instance poultry with emphasises on egg production. If you are into this business you will make millions across Niger for example.

Nice2023:
U need to go back to school for saying this.

Don't mind the ode

ekineme:
I doubt you understand what you just wrote. Do read again and quote me

You know nothing about economics

Nice2023:
U need to go back to school for saying this.

Use simple logic. It means u make more exporting to this countries than import. Anything they buy from us, we make more money

When you don’t export anything and don’t even have the industries to manufacture and still have a weak currency is the worst of all, china intentionally devalue their currency because they have a lot to export, Vietnam exported 10times the value of what Nigeria exported in oil and others only from textiles and shoes, we have become a laffin stock in comity of nations, apc said the re saved 400billion on one month without petrol subsidies but want to borrow 500billuon for pallatives, now the monies you have saved what did you use them for? Agbado politics

Jlow2:
When you don’t export anything and don’t even have the industries to manufacture and still have a weak currency is the worst of all, china intentionally devalue their currency because they have a lot to export, Vietnam exported 10times the value of what Nigeria exported in oil and others only from textiles and shoes, we have become a laffin stock in comity of nations, apc said the re saved 400billion on one month without petrol subsidies but want to borrow 500billuon for pallatives, now the monies you have saved what did you use them for? Agbado politics

His useless supporters thinks otherwise🤷

Even the Zimbabwean dollar has overtaken the naira

obi4eze:
Even the Zimbabwean dollar has overtaken the naira

Big Shame

SpecialAdviser:
It's a big shame that Naira which use to be 3 times CFA is overtaken. Meaning all African countries using CFA are now our bosses.

cc

Mynd44
Seun
Oam4j
Mukina
Dominique

na only people way dey travel to CFA countries go understand this better.chie!! Naira my money.

dnawah:
na only people way dey travel to CFA countries go understand this better.chie!! Naira my money.

Too bad my brother

Don't think I don't understand what you are saying. Go and read Karl Marxs Des Kapital. Our exports do not match our imports. What's our foreign reserve? Bro Dubia's exports not just goods but services. Look at Germany. Do you know how much some countries make from weapons sales, auto, pharmaceuticals? Bro.... wake up. You are trying to explain the Vietnamese model. Countries intentionally devalue their country's currency for trade purposes but our is purely trade imbalance.

LikeAking:
You are wrong...

Yes we rely on imports, but is not a that bad..

We import even less compared to our population..

What we import most are mostly cars, raw materials & and tech stuffs, check around you... It's normal in most countries..

Some countries like dubia important everything, even sand... Going by your narrative they should have been broke like Nigeria..

The major problem is looting of government funds, them just they use imports cover am up..

Nigeria they even try for manufacturing..

We produce almost everything here...

oyalunasamuel:
Don't think I don't understand what you are saying. Go and read Karl Marxs Des Kapital. Our exports do not match our imports. What's our foreign reserve? Bro Dubia's exports not just goods but services. Look at Germany. Do you know how much some countries make from weapons sales, auto, pharmaceuticals? Bro.... wake up. You are trying to explain the Vietnamese model. Countries intentionally devalue their country's currency for trade purposes but our is purely trade imbalance.

What's the total value of our import?

Divide that by may be 120 million people..

Our import is till very little... We don't have purchasing power..

What's happening is over importation..

Although importation plays a huge role, but in our case our import is so moderate..

Dubai u mentioned, even import sand and they may even export less than us..

We mostly important cars, machines and tech things which is normal in most countries..


I am not in surport of devaluation..our currency has been over devalued.

My point is: Looting of public's funds is the main cause of the devaluation of our currencies.

Corruption..

oyalunasamuel:
Don't think I don't understand what you are saying. Go and read Karl Marxs Des Kapital. Our exports do not match our imports. What's our foreign reserve? Bro Dubia's exports not just goods but services. Look at Germany. Do you know how much some countries make from weapons sales, auto, pharmaceuticals? Bro.... wake up. You are trying to explain the Vietnamese model. Countries intentionally devalue their country's currency for trade purposes but our is purely trade imbalance.

Other African countries like Kenya, SA and co also import senselessly like Nigeria, but their currencies experience lesser davaluation when compared with Nigeria.

It shall never be well for APC and their supporters!!!

We told Agbadorians not to vote Tinubu but they voted him because of religious and tribal sentiment. Reno, FFK, Bayo are abroad enjoying with their families while Agbadorians are in Nigeria suffering and smiling.