How?

Slurity:
APC is your problem? Where did PDP met it, If party is the problem , PDP is the biggest error.

Are you an APC supporter

chidiokay:



The #800 you consider default was it the price Buhari met, need i remind you as at 2015 $1/220 and was not even the price GEJ bet

That naira as not come down to the specific price you want doesnt negate Naira appreciated .. 1900 to 1200, 700h differences under one month is worth commendation

Which yeye commendation? Was it not APC that used their hands to create events that led to the catastrophic naira devaluation in the first instance!

Lizzysamuel:



216-28 that's 188 difference.

1200-216 that's how much Agbadorian?
I don't even want to mention the 1950 ATH you guys took it too.

Olodo thats not how to compute it, in a lames man term, how many 28 will you cash out in 216, devalued rate is what we are after

216 ÷ 28 = 7.71

1200 ÷ 216 = 5.51

which is higher

Lizzysamuel:


Don't mind the illiterate with Phone

O girl! You are stubbornly ignorant o! They wan even correct u, you still dey show stubbornness!

LegendHero:


Use your brain brother, it’s kept there to be used.

The reason I used N216 was because the person I quoted mentioned that and I just used the numbers. Now tell me the significant difference between 199 and 216 to affect my calculations. If 216 makes 8 folds, 199 will also dangle within 7-8 folds, so what are you talking about.

To your second point, don’t me a dullard. We are using term to compare and not actual time. The lady mentioned PDP met it at a value and APC term is still on and at this point is what we will use as our numbers. No one is asking for depreciation calculation. What gives you the assurance that it will be a linear progression? What if by the end of APC tenure (let’s say in 8 years time to make 16), they take the value down to N300? No law tells us the naira rate will always progress linearly.

The rest of your calculation are jargons because while trying to sound wise, you’re taking the argument to another context. What we are discussing is simple exchange rate fold increase per political party reign.

For my masters, I inserted that because of the nonsense you first quoted. You should tell us your own qualification instead of using Jonathan as a straw man.

You are still disgracing your so-called Masters degree.

What we are discussing on this thread is CURRENCY DEPRECIATION. To calculate depreciation, you either use the depreciation formula or you use the progression. That is why I said your progression was fraudulent because you changed the baseline. You used 28 for rate of progression for PDP only to change it to 216 for rate of depreciation under APC. That's false maths. Because you get almost x10 of the rate you used for PDP for one unit rate under APC. That's why the calculation for depreciation comes in to take care of that. You are expected to understand it as a student of engineering who has done calculus and integration which are basically calculations of rate of change based on non-linear rates.

So while you inserted your Masters, you have not shown adequate understanding of calculation of rate of change over a given period. Also, if you have taken business or accounting classes, you will know there are terms such as real and nominal rates which you have also ignored in your analysis. A good student of Engineering should know quantitative analysis should be balanced else you employ exponential series

Lizzysamuel:



216-28 that's 188 difference.

1200-216 that's how much Agbadorian?
I don't even want to mention the 1950 ATH you guys took it too.

you are doing minus and plus instead of multiplication

lol you are not wise

Lizzysamuel:



216-28 that's 188 difference.

1200-216 that's how much Agbadorian?
I don't even want to mention the 1950 ATH you guys took it too.

PDP met it at N22 and took it to N199. If you look at that critically, you will realise that that is 900% increase Sir.

Mind you, from 1994 to 1999(5 years) under military regime, it was stable at N22. But within one year of Obasanjo's reign (1999-2000), it rose from that same N22 to 85, that is 380%.

Sir, if it could stay at N22 for 5 good years under military regime but rose from 22 to 85 within 1 year of Obasanjo's reign, then OBJ has a lot of questions to answer. The obvious fact is OBJ laid the foundation for continuous devaluation of Naira. Its glaring enough. Politics aside, OBJ led us this far.

tegrianonigltd:


Official rate and black market rate no difference now na. We allow politics to divide us instead to unite us. Because of party affiliation and tribe, we can’t tell some people say them dey do wrong. Pdp were not too sound, but apc came and its blackout for now. Forget politics. Criticism is good. Apc did against pdp.

At the end. Me and you, with them, everyone want a better Nigeria. Make we talk truth. If Nigeria be like them Singapore and China now, great system. Everything like 85-90 percent working. We will all be happy innit?

No, if Nigeria starts working today some people will be very embittered because of the same politics you talked about. You know them

Ofunaofu:


N216 to a dollar where the APC met it as at 2015

Remember Nigeria existence did not start in 2015. If that should be the case, let pdp return the naira to 84 naira to a dollar in 1999 that pdp met it

yommen:


PDP met it at N22 and took it to N199. If you look at that critically, you will realise that that is 900% increase Sir.

Mind you, from 1994 to 1999(5 years) under military regime, it was stable at N22. But within one year of Obasanjo's reign (1999-2000), it rose from that same N22 to 85, that is 380%.

Sir, if it could stay at N22 for 5 good years under military regime but rose from 22 to 85 within 1 year of Obasanjo's reign, then OBJ has a lot of questions to answer. The obvious fact is OBJ laid the foundation for continuous devaluation of Naira. Its glaring enough. Politics aside, OBJ led us this far.

Under army rule, naira went from N1 In 1983 to N22 offically in 1999, N89 Unoffically in 1999.

Validated:

First off, stop peddling lies. It will not help you in life. Lies can only get you through the "door", but the truth helps you to grow. Learn that mystery for your own good.

Dollar-Naira Exchange Rate from 1997 to 2000(Black Market Rate.)
1997 $1 = N84. 58
1998 $1 = N84. 70
1999 $1 = N88-N90
2000 $1 = N105.(PDP)
Then APC met it at N216 and now celebrating N1200? Is that not hypocrisy?

This was the official (CBN) rates. I was buying dollar at N178 to a dollar in 1999. The days of Zenith bank Surf card or VbyV card.

predictor1:
That's what I don't understand about these specimens. Each day they hope things will get worse so that they can gloat and accuse those who voted contrary to their own opinion of being wrong.

Look at this ingrate. All your live, did you support GEJ when he was in power? Hell no, rather you guys connived with the North to dethrone him.

Now you what sane Nigeria to support the certificateless and drug baron just because he's from your tribe.

Ofunaofu:


Are you an APC supporter

I am a farmer and not a politician

Lizzysamuel:



216-28 that's 188 difference.

1200-216 that's how much Agbadorian?
I don't even want to mention the 1950 ATH you guys took it too.

We want it back to 71 kobo the way it was after independence

predictor1:

And these values you got here are negative in your eyes, Olodo?

Did you go to school at all? I removed the negative sign cause we are considering only the natural value and not the real value in depreciation. Depreciation is actually a percentage. Have you ever calculated mean error or percentage error or deviation? Don't you see negative value being ignored when you are comparing in terms of quantities? What school did you attend?

bal4real:


Look at this ingrate. All your live, did you support GEJ when he was in power? Hell no, rather you guys connived with the North to dethrone him.

Now you what sane Nigeria to support the certificateless and drug baron just because he's from your tribe.

What's my business with the north? I can never support any incompetent leader. Jonathan was incompetent just like Buhari. We are still watching Tinubu. It's your business who to support or not. Nobody is begging you to support anyone.

yommen:


PDP met it at N22 and took it to N199. If you look at that critically, you will realise that that is 900% increase Sir.

Mind you, from 1994 to 1999(5 years) under military regime, it was stable at N22. But within one year of Obasanjo's reign (1999-2000), it rose from that same N22 to 85, that is 380%.

Sir, if it could stay at N22 for 5 good years under military regime but rose from 22 to 85 within 1 year of Obasanjo's reign, then OBJ has a lot of questions to answer. The obvious fact is OBJ laid the foundation for continuous devaluation of Naira. Its glaring enough. Politics aside, OBJ led us this far.

That's not true. Devaluation started with IBB and his SAP.

LegendHero:


So who told you that in the next 7 years, the dollar rate won’t fall to a low of 250 naira? Did they tell you it’s a linear progression?

At least think before typing jargons.

Hahhahahahahhahahhahahha hahhahahahahhahahhahahha.......

If it is America or SANE countries I would have bought your low thinking level....

But for you to believe this in Nigeria......hahahhahahhaaha

Is not that I dont wish Nigeria good , because that will be your next line of attack.....

I wish a country well when I see her Government ad supporters pushing away lies, deceit, selfishness, and ethnic politics for a united work ....

LegendHero:


PDP met it at N28 in 1999. Why did they left it at N216?

Stop talking nonsense. Naira was 84 to 1 dollar in 1999.

Omoboricash:

Remember Nigeria existence did not start in 2015. If that should be the case, let pdp return the naira to 84 naira to a dollar in 1999 that pdp met it

PDP is not in power

Infact, APC used it to campaign against the PDP in 2015, only to come and make the Naira worthless

Lizzysamuel:


Make sure you come back knowing difference between leave and left. Thanks

Lioness of Africa, you don finish this guy, I swear😂

Where ever the guy sees your monika, he'll be avoiding u like a plague

Bluntguy:
Judging from where the Naira started plummeting to where it is now, it is not performing anything. I will agree with Bloomberg when it gets back to less than #800 per dollar.

it was 750 before swearing in

AfDapone:


Which yeye commendation? Was it not APC that used their hands to create events that led to the catastrophic naira devaluation in the first instance!

Nigerians are use to full time criticizing but one commendation won't kill


however commendation encourages humans to do more esp. when they are on the right track

Kukutenla:


Did you go to school at all? I removed the negative sign cause we are considering only the natural value and not the real value in depreciation. Depreciation is actually a percentage. Have you ever calculated mean error or percentage error or deviation? Don't you see negative value being ignored when you are comparing in terms of quantities? What school did you attend?

Go and sit down. You are worse than an illiterate. If you followed how the argument started you will see how poor your maths skills are. Someone said Pdp met currency at #28 and took it to #216. What's the percentage increase?

APC met it at #216 and took it to #1200. Calculate the percentage increase from 216 to 1200.
We found out that under the PDP the increase was higher than it has happened so far under the APC. That way there's no need to ignore or acknowledge any negative sign, you idiot.

Validated:

First off, stop peddling lies. It will not help you in life. Lies can only get you through the "door", but the truth helps you to grow. Learn that mystery for your own good.

Dollar-Naira Exchange Rate from 1997 to 2000(Black Market Rate.)
1997 $1 = N84. 58
1998 $1 = N84. 70
1999 $1 = N88-N90
2000 $1 = N105.(PDP)
Then APC met it at N216 and now celebrating N1200? Is that not hypocrisy?

Which means if some people quote a figure, one need to verify it, because did they got 28 naira to Dollar that some hypocrites are claiming on nairaland. 90 naira in 1999 and 216 naira in 2015 is just about 120% increment but from 216 naira to 1900 in 2024 is about 800% increment.

How?

Make e go down to 300 before I go know say NGN dey perform wella

LegendHero:


This is from the USA government website.

Official rate in 1998 is 22 naira to the USD.

I usually argue from a position of knowledge.

https://1997-2001.state.gov/issues/economic/trade_reports/africa98/nigeria98.html

God bless you bro. Kudos.

What an education! 💕

Kukutenla:

You are still disgracing your so-called Masters degree.

What we are discussing on this thread is CURRENCY DEPRECIATION. To calculate depreciation, you either use the depreciation formula or you use the progression. That is why I said your progression was fraudulent because you changed the baseline. You used 28 for rate of progression for PDP only to change it to 216 for rate of depreciation under APC. That's false maths. Because you get almost x10 of the rate you used for PDP for one unit rate under APC. That's why the calculation for depreciation comes in to take care of that. You are expected to understand it as a student of engineering who has done calculus and integration which are basically calculations of rate of change based on non-linear rates.

So while you inserted your Masters, you have not shown adequate understanding of calculation of rate of change over a given period. Also, if you have taken business or accounting classes, you will know there are terms such as real and nominal rates which you have also ignored in your analysis. A good student of Engineering should know quantitative analysis should be balanced else you employ exponential series

You are just saying nonsense. This is not an accounting class or calculus class.

The argument wasn’t even with you before you center yourself in.

This is the argument:
PDP took it from N28 to 216
APC took it from 216 to 1200

The argument is about folds per political party tenure not about inserting formular into the discussion. Because trying to insert that will mean we will now try to check the time value of those billion $$ PDP got from crude sales during that time with it peaking over $100 during Jonathan period. Then now use that to extrapolate how much PDP had to cushion the effect of naira falling and what modalities they put in place to keep production growing to be able to support the Naira.

Then we will now bring when Buhari came and crude oil sales fell drastically to Covid-19 era, and then now use that to arrive at all factors to now consider which is better or not.

Now tell me how much PDP government earned for their 16 years from crude oil sales since that is the main source of revenue for the CBN and then compare it to Buhari tenure revenue and then use those time value of money to infer which one is better. At least you know our earning power determine how much we have at hand to defend the naira.

Can you see we can take this argument to next year if you’re trying to check all parameters. That’s why it’s good to stay on topic.

predictor1:
What's my business with the north? I can never support any incompetent leader. Jonathan was incompetent just like Buhari. We are still watching Tinubu. It's your business who to support or not. Nobody is begging you to support anyone.

Lolz.
GEJ and Buhari are now incompetent, as u claimed.
Swear with your life that you didn't support and vote for Buhari when he contesting against GEJ?

Buhari, your then master is now incompetent because people are now missing Buhari, under this shege banza your tribesman has plucked this nation into.

Would you be this patient, if it were PO that is in power with the situation of the country right now.

Honest answers without sentiment, pls!

bal4real:


Lolz.
GEJ and Buhari are now incompetent, as u claimed.
Swear with your life that you didn't support and vote for Buhari when he contesting against GEJ?

Buhari, your then master is now incompetent because people are now missing Buhari, under this shege banza your tribesman has plucked this nation into.

Would you be this patient, if it were PO that is in power with the situation of the country right now.

Honest answers without sentiment, pls!

Shey na you carry my thumb vote for Buhari? Buhari ko Buraimo ni.

Your god, Jonathan was an incompetent coward who made the equally incompetent buhari possible. So far Tinubu's policies are giving Nigeria a lifeline. But I don't expect you to understand.

LegendHero:


You are just saying nonsense. This is not an accounting class or calculus class.

The argument wasn’t even with you before you center yourself in.

This is the argument:
PDP took it from N28 to 216
APC took it from 216 to 1200

The argument is about folds per political party tenure not about inserting formular into the discussion. Because trying to insert that will mean we will now try to check the time value of those billion $$ PDP got from crude sales during that time with it peaking over $100 during Jonathan period. Then now use that to extrapolate how much PDP had to cushion the effect of naira falling and what modalities they put in place to keep production growing to be able to support the Naira.

Then we will now bring when Buhari came and crude oil sales fell drastically to Covid-19 era, and then now use that to arrive at all factors to now consider which is better or not.

Now tell me how much PDP government earned for their 16 years from crude oil sales since that is the main source of revenue for the CBN and then compare it to Buhari tenure revenue and then use those time value of money to infer which one is better. At least you know our earning power determine how much we have at hand to defend the naira.

Can you see we can take this argument to next year if you’re trying to check all parameters. That’s why it’s good to stay on topic.

He's saying rubbish that he himself has no knowledge of.