₦airaland Forum

Nvestor02:
Naira rise and fall base on the choice of people.... Tinubu has already taken that burden of baring responsibility of Naira on his head.

He has unificate Naira, the market and choice of the Nigerian citizen will determine the performance of Naira in the international market.

I would also advice the president and the senators to take down our denominations. There is no reason why we should have 1k in one note.

There is no country that have that amount in one note and their currency is doing well. Dollar last denominations in $100. Same as Pounds and euro.

Even there pounds end at £50. The highest Ghana denominations is 200 cedis.

Nigeria govt should take down our denominations too and make small dominations like 5N 10N and coins to be available.

US still dey spend coins. Why not us?

Tinubu is doing well in the cost of living, it's now the government that needs to step up to the new reality.

CFA used by our francophone neighbors has 10,000 CFA in one note and is doing far better than naira.

HeadNigga:
The picture is not good enough. You should use 100 naira notes since it is 100 dollar that is on the table. 100vs100

Do they still produce 100 naira mint?? I doubt...I havnt seen 100 naira mint in ages ... I think they only print 200, 500 and 1k... to cut cost of printing

Nvestor02:
Naira rise and fall base on the choice of people.... Tinubu has already taken that burden of baring responsibility of Naira on his head.

He has unificate Naira, the market and choice of the Nigerian citizen will determine the performance of Naira in the international market.

I would also advice the president and the senators to take down our denominations. There is no reason why we should have 1k in one note.

There is no country that have that amount in one note and their currency is doing well. Dollar last denominations in $100. Same as Pounds and euro.

Even there pounds end at £50. The highest Ghana denominations is 200 cedis.

Nigeria govt should take down our denominations too and make small dominations like 5N 10N and coins to be available.

US still dey spend coins. Why not us?

Tinubu is doing well in the cost of living, it's now the government that needs to step up to the new reality.

Gibberish!

Stop chatting sh*t.
Indonesia has up to 1,000,000 in a single paper note yet their currency is stable and isn't losing value!
The more or less zeros in a currency doesn't determine how strong or less of it, it is.
Remember Ghana removed the extra zeros in their currency yet there currency their currency continues to lose value!

Nvestor02:
Naira rise and fall base on the choice of people.... Tinubu has already taken that burden of baring responsibility of Naira on his head.

He has unificate Naira, the market and choice of the Nigerian citizen will determine the performance of Naira in the international market.

I would also advice the president and the senators to take down our denominations. There is no reason why we should have 1k in one note.

There is no country that have that amount in one note and their currency is doing well. Dollar last denominations in $100. Same as Pounds and euro.

Even there pounds end at £50. The highest Ghana denominations is 200 cedis.

Nigeria govt should take down our denominations too and make small dominations like 5N 10N and coins to be available.

US still dey spend coins. Why not us?

Tinubu is doing well in the cost of living, it's now the government that needs to step up to the new reality.

KosiGee:
Naira stands STRONG while a gentle breeze would blow the dollar away.

Nvestor02:
Naira rise and fall base on the choice of people.... Tinubu has already taken that burden of baring responsibility of Naira on his head.

He has unificate Naira, the market and choice of the Nigerian citizen will determine the performance of Naira in the international market.

I would also advice the president and the senators to take down our denominations. There is no reason why we should have 1k in one note.

There is no country that have that amount in one note and their currency is doing well. Dollar last denominations in $100. Same as Pounds and euro.

Even there pounds end at £50. The highest Ghana denominations is 200 cedis.

Nigeria govt should take down our denominations too and make small dominations like 5N 10N and coins to be available.

US still dey spend coins. Why not us?

Tinubu is doing well in the cost of living, it's now the government that needs to step up to the new reality.

Nonsense

Nvestor02:
Naira rise and fall base on the choice of people.... Tinubu has already taken that burden of baring responsibility of Naira on his head.

He has unificate Naira, the market and choice of the Nigerian citizen will determine the performance of Naira in the international market.

I would also advice the president and the senators to take down our denominations. There is no reason why we should have 1k in one note.

There is no country that have that amount in one note and their currency is doing well. Dollar last denominations in $100. Same as Pounds and euro.

Even there pounds end at £50. The highest Ghana denominations is 200 cedis.

Nigeria govt should take down our denominations too and make small dominations like 5N 10N and coins to be available.

US still dey spend coins. Why not us?

Tinubu is doing well in the cost of living, it's now the government that needs to step up to the new reality.

Sorry at least I dey use euros we get 100, 200 and 500 euro bills. Just saying.

AminuRano87:
CFA used by our francophone neighbors has 10,000 CFA in one note and is doing far better than naira.

have you been to the countries with CFA? ie Mali and Niger?

pikechukwu6:
...Thanks God am already earning in dollars... If you are interested DM

So all you family, friends, relatives, church/mosque members don dey earn in dollars abi? Cuz I wonder why you wan teach a total stranger. Me wey know say Nigerians are very wicked, selfish and greedy

Nvestor02:
Naira rise and fall base on the choice of people.... Tinubu has already taken that burden of baring responsibility of Naira on his head.

He has unificate Naira, the market and choice of the Nigerian citizen will determine the performance of Naira in the international market.

I would also advice the president and the senators to take down our denominations. There is no reason why we should have 1k in one note.

There is no country that have that amount in one note and their currency is doing well. Dollar last denominations in $100. Same as Pounds and euro.

Even there pounds end at £50. The highest Ghana denominations is 200 cedis.

Nigeria govt should take down our denominations too and make small dominations like 5N 10N and coins to be available.

US still dey spend coins. Why not us?

Tinubu is doing well in the cost of living, it's now the government that needs to step up to the new reality.

You were making sense until the last line,
[b]Tinubu is doing well, it's now the government that... [/b]He is head of government, remember. You need help urgently.

jeromestarks:
Naira vs Dollar

Fake narration

iLegendd:
If Naira collapses, kidnapping business will stop. Imagine those bastard kidnappers asking for 40 million Naira ransom and it takes 40 Ghana must go bags. How will they carry it without being tracked?

They could kidnapped full grown adult without been tracked, it's money in Ghana must go bags that's you problem.

You having been spreading this idiotic view point in a while, it shows reasoning without a depth. Stop it already.

SeriouslySense:
ZZz


Venezuela's economic collapse can be attributed to a combination of factors, including:

Dependence on Oil: Venezuela's economy heavily relied on oil exports for revenue. When oil prices dropped significantly, it severely impacted the country's income.

Mismanagement and Corruption: The Venezuelan government, under President Hugo Chávez and his successor Nicolás Maduro, implemented policies that were often populist but unsustainable in the long term. These policies included heavy government spending, price controls, nationalizations, and currency manipulation. Mismanagement and corruption exacerbated economic problems.

Hyperinflation: Venezuela experienced hyperinflation, with prices skyrocketing at an alarming rate. This eroded people's purchasing power, leading to widespread poverty and hardship.

Fiscal Deficits: The government consistently ran fiscal deficits, leading to high levels of debt. Instead of addressing structural issues, the government resorted to printing money, exacerbating inflation.

Decline in Productivity: Productivity in non-oil sectors declined due to lack of investment, inefficient government policies, and expropriations. This further weakened the economy's ability to diversify and generate revenue beyond oil.

Political Instability: Political instability and polarization also played a role in Venezuela's economic collapse. The government's authoritarian tendencies, human rights abuses, and repression of dissent led to international isolation and sanctions, further complicating economic recovery efforts.

These factors, among others, contributed to Venezuela's economic collapse, resulting in severe shortages of food, medicine, and basic goods, mass emigration, and a humanitarian crisis.

Same as Nigeria, except in the productivity sector...we are better than Venezuela.

All in all the summary is simple. DONT PUT ALL YOUR EGGS IN ONE BASKET.

Thundafireseun:
You will be smiling more than your neighbours and their Galfrnd’s will envy you ☺️

Is this what life should be all about in the community? Hmmm, neighbor's girlfriend should envy you and all that. Where is our collective wish, whereby, we should all be doing well economically!

The human race has really suffered in the same hands of humans.

osmosis101:
Deep

NOTHING is deep here unless you are shallow..

Nvestor02:
Naira rise and fall base on the choice of people.... Tinubu has already taken that burden of baring responsibility of Naira on his head.

He has unificate Naira, the market and choice of the Nigerian citizen will determine the performance of Naira in the international market.

I would also advice the president and the senators to take down our denominations. There is no reason why we should have 1k in one note.

There is no country that have that amount in one note and their currency is doing well. Dollar last denominations in $100. Same as Pounds and euro.

Even there pounds end at £50. The highest Ghana denominations is 200 cedis.

Nigeria govt should take down our denominations too and make small dominations like 5N 10N and coins to be available.

US still dey spend coins. Why not us?

Tinubu is doing well in the cost of living, it's now the government that needs to step up to the new reality.

You just use that your last line spoil this wrote up

Beverlyjean:
Do they still produce 100 naira mint?? I doubt...I havnt seen 100 naira mint in ages ... I think they only print 200, 500 and 1k... to cut cost of printing

You have a point, I avoid touching physical cash as much as possible though.

jeromestarks:
Naira vs Dollar

Update the photo, add another bundle. That's where we currently are now.

At this rate, the next action would be to redenominate the naira to enhance its potability

jeromestarks:
Naira vs Dollar

bigtt76:
At this rate, the next action would be to redenominate the naira to enhance its potability

Won't work. Ghanaians can tell you that. Redenominating the cedi did not make it a strong currency

Thanks to Tinumbu.

RickyJesus:
They could kidnapped full grown adult without been tracked, it's money in Ghana must go bags that's you problem.

You having been spreading this idiotic view point in a while, it shows reasoning without a depth. Stop it already.

In your senile mind, don't you know those humans walk with a gun pointed at them and they walk fast? They don't carry them, but the money, they have to carry those heavy bags.

You sure say you go school? Your mom really wasted money on your education. How old are you self? All these kids or men with low IQ.

And this low IQ being is probably expecting me to reply him again. So daft. You must be dreaming.

Until we stop the forex comparison shit to dollars, we will grow.

African countries glorifying dollars in Africa while their currencies are useless abroad. Until other countries are looking for Naira to purchase things (when we begin exporting what we produce), forget Nigeria and growth.

BOSSkesh:
Inflation caused by removal of subsidy

By a daft clueless presidio who doesn't believe in Nigeria

Just rush dey make policies without putting necessary things in place.

chatinent:
Until we stop the forex comparison shit to dollars, we will grow.

African countries glorifying dollars in Africa when their currencies are useless abroad.

Every country does the comparsion to dollars. Heck, even the Russians and chinese do it covertly.

The problem with Nigeria is we do not have a diversifed economy, and we do not have a productive economy that exports more than just oil. We also do not do manufacturing. That is why we have a weak naira.

Russia, china, usa, germany, japan, even the UK all have one thing in common...diversified manufacturing economies.

nairalanda1:
Every country does the comparsion to dollars. Heck, even the Russians and chinese do it covertly.

The problem with Nigeria is we do not have a diversifed economy, and we do not have a productive economy that exports more than just oil. We also do not do manufacturing. That is why we have a weak naira.

Russia, china, usa, germany, japan, even the UK all have one thing in common...diversified manufacturing economies.

Russia and China stopped the dollar thing.

Nigeria should ditch the Dollar and join BRICS countries. This is chasing wahala.

Thundafireseun:
Just earn in dollars

And all this won’t matter to you

How much have you earned this month in dollars?

Yes, venuezuela is similar to Nigeria, and its a good country to study.

But for Haiti, i dont think its an appropriate country to use.

nairalanda1:
Same as Nigeria, except in the productivity sector...we are better than Venezuela.

All in all the summary is simple. DONT PUT ALL YOUR EGGS IN ONE BASKET.

malali:
Do you know what you have to do to earn a 100 DOLLARS ?

Healthcare: Go to the hospital in the dollar country, ordinary headache they will charge you $350 after insurance deductions and co-pay. In Nigeria, there is no hospital that will charge you $10. Some hospital visits abroad can cost you $50000. (Giving birth with C/S, 1 or 2 days of ICU). In Nigeria you wont spend $500.

Education: Come and study in dollar economy let them give you loan with 7% percent compund interests, you will work and die without finish paying for such loans. In Nigeria people study for free and "japa" Thats essentially free human capital, No country in the world allows there manpower to JAPA free of charge.

Public Transportation: Compare the airfares and bus fares, $500 tickets is europe or america if you buy last minute, is a cheap ticket. In naija you can walk into Abuja airport and fly to Lagos last minute, with $100.

Utilities: Electricity, power and water, Have you paid water bill, heating bill $800 before ? You are comparing dollar to naira ?

Telecommunications: Even Internet costs are comparable, phones services, standalone phone servces can cost up to $120 plus taxes for a month. Do you pay that much to sub your phone in a month ?

Certain Agricultural Products: Agricultural produce are cheaper in Nigeria, than any dollar economy. A big Mango can be $3-4, Have you ever bought 1 mango for 5000naira ? Meat is cheaper in Nigeria, food stuff even with the cry is still cheaper than abroad.

Would you rather earn $5000 and have to spend $4995 for bills and living.
Or earn 100,000 naira and spend 50000 naira for bills and living ?

there is no much sense in this your analogy. It's just the sign before the money. Why not exchange the dollar sign to the Naira.
Some years back, the Naira was stronger than the dollar.
Think!

chatinent:
Russia and China stopped the dollar thing.

Offically, yes, covertly...

And even then, they have diversifed , manufactruing economies...whether they compare to dollar or not, it does not matter...they already have the things needed for a stronk currency.

Nvestor02:
Naira rise and fall base on the choice of people.... Tinubu has already taken that burden of baring responsibility of Naira on his head.
He has unificate Naira, the market and choice of the Nigerian citizen will determine the performance of Naira in the international market.
I would also advice the president and the senators to take down our denominations. There is no reason why we should have 1k in one note.
There is no country that have that amount in one note and their currency is doing well. Dollar last denominations in $100. Same as Pounds and euro.
Even there pounds end at £50. The highest Ghana denominations is 200 cedis.
Nigeria govt should take down our denominations too and make small dominations like 5N 10N and coins to be available.
US still dey spend coins. Why not us?
Tinubu is doing well in the cost of living, it's now the government that needs to step up to the new reality.

Thank you bro,for your economics insights that has to do with Denominations of the Currency!
Many only comes to a Forum like this- yan and abuse, without profering solutions.
In Nigeria,everything is tailored towards Political dispensation 'i before others' which has no bearing in real economic growth!
For ,why should we have N1000 created- because those in charge looks at their Tribe and Ethnicity to take decisions,not on the Principles of Fairness and Equity and Justice but they only consider those ones and other tribes as an appendages to their decisions, when their real and ulterior motives have been satisfied!
•Why should Nigeria created a bogious Currency without economics meaning?
• Why should Nigerian Leaders failed to use Coins in Nigeria,but will go to London,USA, European Countries and gladly accept what they rejected here?
No be JuJu be that?
Is that not heights of arrogance and double faced and off Course,other Nigerians travel there but found Strange ethics being practiced abroad,especially when we are not Producing anything at home!
What a Country?