LegendHero:


You clearly don’t know what you are talking about. I am on Nairaland, conversing with people from different educational background, why do I need to speak in engineering terms when I can converse in lay man term? No be Nairaland we dey? Abi you think say I dey class?

So if we are discussing about why drug abuse is bad, then replying to a doctor mean he will start explaining how it affect the neurotransmitters such as dopamine, serotonins that leads to cognitive impairment. OR I should just say drug abuse is bad.

Oga we no dey mathematic class so why do I need to start quoting equation to explain a simple thing?

When I told you to bring in other factors too, you see that you’ve been arguing nonsense since right?

He's fighting a lost battle. He's trying to flummox you to win the argument.

Arielle:
Kudos to Mr Cardoso

Kudos to who?

You are such a clown

predictor1:
He's fighting a lost battle. He's trying to flummox you to win the argument.

Don’t mind him. A simple straightforward analogy don dey turn mathematics class on top simple naira to dollar rate.

LegendHero:


You clearly don’t know what you are talking about. I am on Nairaland, conversing with people from different educational background, why do I need to speak in engineering terms when I can converse in lay man term? No be Nairaland we dey? Abi you think say I dey class?

So if we are discussing about why drug abuse is bad, then replying to a doctor mean he will start explaining how it affect the neurotransmitters such as dopamine, serotonins that leads to cognitive impairment. OR I should just say drug abuse is bad.

Oga we no dey mathematic class so why do I need to start quoting equation to explain a simple thing?

When I told you to bring in other factors too, you see that you’ve been arguing nonsense since right?

But you brought in mathematics first.

Your maths was wrong. I've seen many doctors discuss the technicalities of their field here and no one has arrested them. In public discourse you make intelligent submissions not market woman analysis. Exchange rate you're discussing is an economic term. Rate of depreciation is also an economic term. So what do you mean by you don't want to speak in technical terms?

Those factors are irrelevant to depreciation calculations which you embarked upon. Your claim is like saying when calculating inflation rate, one should consider the exchange rate.

It is irrelevant. Inflation rate is calculated regardless of exchange rate even if exchange rate can affect it.

You're yet to show the calculations you claimed will change the results.

Ofunaofu:
.


Jonathan never used it to campaign or promise to return it to where he met it.


APC told us that N216 to a dollar was the worst thing to have ever happened to our naira, and they promised to make it better. We were even told that N1 would equal $1 by the change chanters, only to make it even more worthless.

This debate is beyond your pay grade. Rest

LegendHero:


Don’t mind him. A simple straightforward analogy don dey turn mathematics class on top simple naira to dollar rate.

His maths is wrong. To him naira lost less than 1% of it's value in 16 years

LegendHero:


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

Because they are not good enough and that's why APC were voted only to come and make it worse. You mean that the ZOO can't get it right? It gets worse with every incoming ruler? When I say that the ZOO is destined to fail you start wailing.

airsaylongcome:


Lol! You completely lost your mind. The highest dollar ever got to under PDP was 216. The highest dollar got to under your jagaban was 1900. Do the math.
Don't forget that 216 was without any government intervention and with a massive SWF. Your current (government manipulated) 1100 is still a 362% hike on 216 that you all screamed about in 2015.

Under Goodluck Jonathan, despite an average oil production of 2.2 million bpd and crude at over 100 dollars per barrel, the reserves were still used to defend the naira aggressively amongst other things. Reserves were at 28 Billion dollars gross when he left. He inherited around 44 Billion dollars in reserves.

DMerciful:
You only need to subsidise dollar others will fall in line. You only need to reduce the price of cook, all aoft drinks will come down. You only need to crash bitcoin, all crypto will come down. There is always a market leader.

Read the article very well, seems you're cherry-picking

So , you are coming to terms with me... you are now saying other currencies were not subsidized but only USD....Haba malam

Kukutenla:

But you brought in mathematics first.

Your maths was wrong. I've seen many doctors discuss the technicalities of their field here and no one has arrested them. In public discourse you make intelligent submissions not market woman analysis. Exchange rate you're discussing is an economic term. Rate of depreciation is also an economic term. So what do you mean by you don't want to speak in technical terms?

Any doctor that is discussing on social media and quoting medical terms to explain simple analogy is simply a nuisance. If rate of depreciation is an economic term, then why don’t you also factor the variables of “Forex revenue of the government” in your rubbish economic terms? Why not bring the revenue PDP generate for 16 years and use that to infer which of them performed well since we have to check all economic metrics for a simple one sentence argument?

Those factors are irrelevant to depreciation calculations which you embarked upon. Your claim is like saying when calculating inflation rate, one should consider the exchange rate.

We are not calculating inflation rate initially. No one mentioned inflation, we were just comparing values without factoring it other metrics. The assumption is that all other factors are kept constant. Na you come with your diversionary tactics to turn the argument elsewhere.

It is irrelevant. Inflation rate is calculated regardless of exchange rate even if exchange rate can affect it.

Oga don’t tell me nonsense. Everybody can prove technical, if you can’t argue based on context, then your technical jargons mean nothing.

You're yet to show the calculations you claimed will change the results.

What calculations do I need to show? That PDP generated more $$ revenue than APC when you use your own time value of money? That Jonathan generated the highest amount of crude sales accruals? That PDP fail to improve infrastructure or diversify revenue to make Nigeria stop being an import dependent country? Abi what are the metrics affecting exchange rates in an economy like Nigeria?

GeneralDae:

Under Goodluck Jonathan, despite an average oil production of 2.2 million bpd and crude at over 100 dollars per barrel, the reserves were still used to defend the naira aggressively amongst other things. Reserves were at 28 Billion dollars gross when he left. He inherited around 44 Billion dollars in reserves.

Don’t mind these guys . Kukutenla Abi Wetin be him name no understand all these basic stuffs when trying to absolve PDP of blames.

There was a period oil price crashed below $20 compared to near steady $100 of Jonathan period coupled with Covid-19 slowdown and etc.

But they want us to just take it as isolated case as tho both PDP and APC both have the same $$ revenue arsenal to balance the exchange rate.

predictor1:
This debate is beyond your pay grade. Rest

Just say that I won the debate

You got nothing else to say

Children of padition from one particular region will call this fake or not be happy with it. All they have ever wanted is for Naija to crumble since their candidate couldn’t win. Awon oloriburuku omo ofo 🤣🤣🤣🤣

GeneralDae:

Under Goodluck Jonathan, despite an average oil production of 2.2 million bpd and crude at over 100 dollars per barrel, the reserves were still used to defend the naira aggressively amongst other things. Reserves were at 28 Billion dollars gross when he left. He inherited around 44 Billion dollars in reserves.

You Buharists and Batists fail to understand that we all knew this. Your party campaigned on a premise that all of that was bad. And that your technocrats could fix all of that. 9 years later, what's our current reserve? What is our loan exposure? How much of that loan has been looted?

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.

You go just kee yourself over nothing with the hatred and bitterness that your parents planted in you

LegendHero:


lol, abeg go back to school and learn basic arithmetics.

This conversation is gradually ”reducing” my IQ.

You didnt have any IQ to reduce before you're an outright idiot my friend

bal4real:


I asked u simple questions, u r just beating around the bush. How did GEJ make Buhari incompetent? Were they in the same party when they were contesting?

Pls explain to us how your Agbodorian master's policy is giving Nigeria a lifeline? One that hurriedly removed subsidies, thereby crashing the economy, is gradually defending the naira, is that a lifeline to you? Putting the cat b4 the horse

Who said gej made Buhari incompetent? What is dis one saying?

The subsidy was already removed in the budget, Tinubu only upheld it. With continued subsidy and without floating the naira the economy would eventually collapse. We've seen that in Lebanon and Venezuela but since all you watch is Soundcity and Africa Magic, you can't know much about world economy. Or have you ever experienced fuel scarcity under this government like you used to have under Obj, Jonathan and Buhari with scarcity lasting for months? That's also one of the effects of subsidy removal.

Ofunaofu:


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

You go just die over nothing

Lemos14:


You didnt have any IQ to reduce before you're an outright idiot my friend

Mynd44 fergie001 seun

When I reply back now na blocking for me.

Ofunaofu:


Just say that I won the debate

You got nothing else to say

You can see I'm still talking to those that are smarter than you.

LegendHero:


Mynd44 fergie001 seun

When I reply back now na blocking for me.

Stop disgracing yourself on a public forum please. Go and be productive.

predictor1:
You can see I'm still talking to those that are smarter than you.

Not on this debate, or probably you are just repeating what was already said. 

As far as you and I are concerned, this debate has ended with me winning it all.

Take a rest, bro.

Comprehension isnt hard, is it?

blamingthedevil:


So , you are coming to terms with me... you are now saying other currencies were not subsidized but only USD....Haba malam

Ofunaofu:


Not on this debate, or probably you are just repeating what was already said. 

As far as you and I are concerned, this debate has ended with me winning it all.

Take a rest, bro.

Ok. Who am I to deny a beggar a ride since wishes are horses?

Bizibi:
what the hell are you talking about,is it because tinubu administration is keeping the scandals from blowing out from buhari administration looting and economy sabotage even the same alies from the north is scheming against the president because of power,the same group of idiots that damaged our economy.

Juvenile.

The economy has been damaged since atleast 86'....you were obviously not yet born..

So you see things from your "keyhole" perspective...

Keep up with clamouring for you noncognitive perspective about how the economy was destroyed..

You should go back to school..

Or maybe start to get some knowledge by watching nickelodeon...

richie240:
Good news!
God bless Nigeria and Nigerians!


You better change the dollazz u are hugging like teddy bear to naira now to avoid stories that touch.
Nor say I nor warn you o.

Exactly, it's a great news atleast this government has done something positive, I can't wait to see the price of things come down...... #Let the poor breath.

Ofunaofu:


Are you now implying that the naira is not being defended at the moment? So why did Nigeria’s foreign exchange (FX) reserve drop by $1.02 billion within 18 days? 

Where did FG see money to pay Airliners?

predictor1:
Who said gej made Buhari incompetent? What is dis one saying?

The subsidy was already removed in the budget, Tinubu only upheld it. With continued subsidy and without floating the naira the economy would eventually collapse. We've seen that in Lebanon and Venezuela but since all you watch is Soundcity and Africa Magic, you can know much about world economy. Or have you ever experienced fuel scarcity under this government like you used to have under Obj, Jonathan and Buhari with scarcity lasting for months? That's also one of the effects of subsidy removal.

I think there’s still some sort of subsidy though due to the naira devaluation especially the second devaluation on Jan 31st 2024. But if we can get the naira back to 800 at this current crude price ($90 per barrel) or less, the subsidy would be out or almost non existent like it was between June and August 2023.

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.

Poor mathematics

GeneralDae:

This is black market. Official rate was 22 naira.

I don't blv so. I v conducted researches

LegendHero:


And you pass through school. So if they ask you to bring a reputable source from school, na one PDP guy tweet go be your source ?

Below is my own source. It’s the official USA government website report on ways and means.

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

I sabi book pass you. From eye witness accounts, dollar was close to N100 as at 1999.

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.

People that cannot read to comprehend.