₦airaland Forum

SoftSport:
It’s sad how N100 is now worth very little, but I like how president Tinubu is trying with new ideas like the floating exchange rate to help Nigeria get better. We are getting there.

SarkinYarki:
He is responsible for 80 percent of the devaluation , from 1960 to 2023 the Nigeria devalued to 600 Naira and in 13 months Tinubu devalued it by more that 130 percent in one fell swoop ..

SmartPolician:
Well, Nigeria used Nigerian pound in 1960 which was equivalent to one naira or one pound. Technically, it means Nigeria used the naira. It's just a difference in name but the value remains the same.

Maxymilliano:
https://tribuneonlineng.com/eroded-naira-n100-in-1960-now-worth-n1-1m-in-2025-world-data/?fbclid=IwQ0xDSwK8fCVleHRuA2FlbQIxMQABHlImDkBaHEAS4gMuJiqr4UlPsfRTdI6aIg53FSFRp-tj5eIwwjMZx6_QtRGS_aem_i4rXKy1cFRVgBro3kPYfAg

SarkinYarki:
He is responsible for 80 percent of the devaluation , from 1960 to 2023 the Nigeria devalued to 600 Naira and in 13 months Tinubu devalued it by more that 130 percent in one fell swoop ..

SmartPolician:
Well, Nigeria used Nigerian pound in 1960 which was equivalent to one naira or one pound. Technically, it means Nigeria used the naira. It's just a difference in name but the value remains the same.

lionshare:
Which represents a larger increase: the range from 1 to 600 or the range from 600 to 1500?

Leave our Professor, let him continue with his funny maths and conflating exchange rate with purchasing power...adding 1+1 to get 23

By the way Professor, kindly note that the purchasing power of a $100 in the US in 1960 is equivalent to $1,080 in today's US, so please add that to your lectures when you are educating us on how BAT has destroyed Nigeria singlehandedly.

SmartPolician:
Well, Nigeria used Nigerian pound in 1960 which was equivalent to one naira or one pound. Technically, it means Nigeria used the naira. It's just a difference in name but the value remains the same.

SoftSport:
It’s sad how N100 is now worth very little, but I like how president Tinubu is trying with new ideas like the floating exchange rate to help Nigeria get better. We are getting there.

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate

April 23, 2023

The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

aribisala0:
Very similar to what Ojukwu did to their currency in Biafra between 1967 -1970

and the Biafran pound was worse than toilet paper

anonimi:
Was that because of the federal government’s siege on Biafra, which they attribute to Awolowo

aribisala0:
This is inaccurate

The Naira was not one to one with the Nigerian Pound


.
It was TWO to ONE at inception in 1973 when the Naira was introduced

Many illiterate people continues to refer to 10 Kobo as Shille kan or ONE SHILLING and 2 Naira as Poun kan or ONE POUND even in the early 80s

SmartPolician:
Don't worry - when I become the president, I'll fix things. Nigerians should be patient. I'm equipping myself for the task.

SmartPolician:
Well, Nigeria used Nigerian pound in 1960 which was equivalent to one naira or one pound. Technically, it means Nigeria used the naira. It's just a difference in name but the value remains the same.

Maxymilliano:
https://tribuneonlineng.com/eroded-naira-n100-in-1960-now-worth-n1-1m-in-2025-world-data/?fbclid=IwQ0xDSwK8fCVleHRuA2FlbQIxMQABHlImDkBaHEAS4gMuJiqr4UlPsfRTdI6aIg53FSFRp-tj5eIwwjMZx6_QtRGS_aem_i4rXKy1cFRVgBro3kPYfAg

MorataFC:
Bias reportage , how much is $100 worth in 2025?

Racoon:
The progressive eroding value of the naira and deterioration of the economic situation in Nigeria. The naira’s descent will continue and with it, the living standards of millions. No thanks to the APC. They really killed and buried this nation over the past 10 years.

Hezzyluv:
No single justification for for such huge disparity. Bad as the world economy bad reach, it should be around 10-20k. But, "All thanks to democracy leaders". with the chunk of thanks going to Bihari and Tinubu's lead APC.