₦airaland Forum

Great100000:
Source: https://businessday.ng/bd-weekender/article/20-african-countries-with-stronger-currencies-than-the-naira/

With all these countries/nations whose currencies are stronger than that of Nigeria in terms of the exchange rate to dollar....

This is simple economy for the lay man.....


(1) How much is a cost of a decent meal (3 square ) in any of these countries as compared to Nigeria?

(2) Cost of house rental for a typical house of two bedroom room in a low density area?

(3) Typical cost of utility bills....(sum light + water+ domestic kitchen waste) ?

(4) Cost of petrol ?

(5) Coat of transportation for a typical distance of Lagos to Abuja by road ?

Babalegba:
You don't really understand how the fiat system works . You look at the numerical realities but not the economic realities. Going by your example,then the yen is weaker than the cedi but the reality is that the Japanese economy is so strong that they battle deflation..
The governor of the Zimbabwe Central Bank would give balls just to get the zig on a par with the naira..
The naira is weaker than it should be because Nigerians are economic illiterates, corrupt, selfish,weak and without control.

You are so, so correct.

Our major problem is that we have so many educated illiterates that know nothing about economy. They just hide in the corner of their respective rooms and post rubbish that fit their clouded reasonings on the social media.

Unfortunately, other educated illiterates like them lap this up and help them propagate the rubbish.

God bless you for your comment. It is one of the few "lone voice in the wilderness" of Nigeria.

Republic of Benin 🇧🇯 cedis is better than our naira now. This is how bad it is. Few years back, 1,000 cedis is for N120 but now 1,000 cedis is for about N1,200. Correct me if I am wrong

what is the purchasing 45k power of does money tah you people should pee in ghana per mouth 1bedroom is 450cedi which about 29dollar but in nigeria 29dollar is abou, nobody will pay 45k for 1bedroom per month in nigeria

sunnyprof:
Which means the fuel seller in Ghana only earn C10 after selling 800 ltr and the Seller in Nigeria already earn N80,000 for the same quantity .... who has more money?

We are always looking on spend, we dont consider the earning! The man in Ghana is not necessarily richer!!

Minimum wage in Nigeria is N40,000 but in Ghana is C300 only ..... in value, the Cedi is not really bigger when you consider what effort to make to earn just one cedis .....only C10 per day but in Nigeria, its about N1,200 per day

Well explained. Thank you

Love800:
I swear, the guy confuse me with that explanation!

Who no go confuse with that explanation

Love800:
How does Ghana look like?

If one relocate, what business can he/she do there?

There are lots of Nigerians there that does good buying and selling businesses, e.g selling of phones, phone parts, etc and they are doing well for themselves. Majority of Nigerian women going to Ghana goes into prostitution when they gets there.

phr0nesis:
Oga did I argue that zeros weren't taken from Ghana's currency?
All I pointed out was your terrible explanation, and boom your nerves got hurt. Learn to explain properly next time.

Oga nor vex, I they drink ogogoro 🍻 that time. My eyes don clear now.
Shey you fit smile now? 😂

Sugarboyy:
Oga nor vex, I they drink ogogoro 🍻 that time. My eyes don clear now.
Shey you fit smile now? 😂

All is good bro

oneMalik:
All of them together still never reach us in terms of everything !!!!

yoruba Muslim wey Fulani herdsmen pursue from him village don talk

Naira is useless if Zim dollars is stronger than it

Can one go there and sell cooked nigerian meals, like mama-put style?

Sugarboyy:
There are lots of Nigerians there that does good buying and selling businesses, e.g selling of phones, phone parts, etc and they are doing well for themselves. Majority of Nigerian women going to Ghana goes into prostitution when they gets there.

Thanks so much.

phr0nesis:
Who no go confuse with that explanation

Love800:
Can one go there and sell cooked nigerian meals, like mama-put style?

Yeah, there are a lot of Nigerian mama put meal. Mostly areas like Circle and it's environs

Thanks so much.

My last question. Why did you leave Ghana and came back home?

Sugarboyy:
Yeah, there are a lot of Nigerian mama put meal. Mostly areas like Circle and it's environs

Love800:
Thanks so much.

My last question. Why did you leave Ghana and came back home?

Lol, I went there for a purpose and I was done with what took me there, I had to return.
Also, either you are doing legitimate business or not in Ghana, as a Nigerian you won't have the same freedom you would naturally have staying in Nigeria.
Lastly, Ghanaians are very jealous and envious of Nigerians there and if they see what will kill you, that won't mind seeing you dead.
Averagely they are poor and don't have the strength to hustle like Nigerians and they become angry with you seeing your hustling pays while theirs doesn't.
They are very bad in business too... A Ghanaian shop owner, as far he is already locking his shop, even if you want to buy goods worth millions from him, he won't sell for you anymore.
I don try for the advice 😂😂

Lastly, the narration that they have 24hrs uninterrupted power isn't the same anymore. They had in 2019 when I first went there but after returning to Ghana in 2022, their power wasn't constant anymore but still far better than Nigeria power situation.

They hardly use banks, you can count the number of their bank branches, they use what they call money agents (like pos) and another called MTN MOMO

Sholuwa224:
Who be this one , this guy you bad , but any
way what you said is the true because is no news when Zimbabwe traders rejected their money base on the reason you gave they ask customers to bring the U S dollar period

All these happened a long time ago under Robert Mugabe!
Haba!
Nawao for u guys
Why do you guys like justifying nonsense?

Okay.
But their policies are okay and things are cheap?

Sugarboyy:
Lol, I went there for a purpose and I was done with what took me there, I had to return.
Also, either you are doing legitimate business or not in Ghana, as a Nigerian you won't have the same freedom you would naturally have staying in Nigeria.
Lastly, Ghanaians are very jealous and envious of Nigerians there and if they see what will kill you, that won't mind seeing you dead.
Averagely they are poor and don't have the strength to hustle like Nigerians and they become angry with you seeing your hustling pays while theirs doesn't.
They are very bad in business too... A Ghanaian shop owner, as far he is already locking his shop, even if you want to buy goods worth millions from him, he won't sell for you anymore.
I don try for the advice 😂😂

Lastly, the narration that they have 24hrs uninterrupted power isn't the same anymore. They had in 2019 when I first went there but after returning to Ghana in 2022, their power wasn't constant anymore but still far better than Nigeria power situation.

They hardly use banks, you can count the number of their bank branches, they use what they call money agents (like pos) and another called MTN MOMO

sunnyprof:
Yes $2,000 will be a lot of money compared to the Naira i.e. N3,000,000 Monthly

the question is can you earn $2,000 monthly in the USA? Very difficult! You must be a professional to earn that
To save such big amount, you must have starved for months ...... ask those from there, because you pay your bills mehn!

House $700 monthly, Tax 20%, Food/Grocerry is on the average of $700, Power and phone bills are about $45each, transport prepaid card @ $32 ....... average for an individual irrespective of what you earn, this is about $1,600 yet excluding other personal expenses not mentioned here....... but how many people earn more than $1,000 monthly? Many people never still got that!.... so at that level, they remain poor people over there. Whereas in comparison, somebody earning N500,000 monthly in Nigeria will meet these basic needs on budget still (you dont really need N3m monthly ) in Nigeria to live well

When it comes to currency comparison, look into what it cost to earn it rather than what the exchange to Naira looks like, so that you will not confuse yourself

aside from stealing no one can earn 3000000 as salary in Nigeria.
There is nothing you can buy with 1k now in Nigeria except biscuits and groundnut.
Nigeria currency is the worst in the world as it stands today.