₦airaland Forum

JuanDeDios:
Ever wondered why this isn't a problem for Asian economic giants (e.g. Japan and China) whose currencies are also "weak" compared to Western currencies?

Compare the GDP per capita in those countries to Nigeria’s. Nigeria is the 12th poorest nation on earth.

trillville:
Compare the GDP per capita in those countries to Nigeria’s. Nigeria is the 12th poorest nation on earth.

What's your point?

JuanDeDios:
What's your point?

Even though their currencies are weak, the people in such nations are rich.

The only time in Nigeria’s history that the Naira gained value was when Obasanjo saved money in the ECA. No savings equals depreciation of the Naira once economic shocks occur.

trillville:
Compare the GDP per capita in those countries to Nigeria’s. Nigeria is the 12th poorest nation on earth.

This is off point. GDP per Capita has nothing to do with value of currencies. Nigeria remains the second economy in Africa. When China devalued her Currency against Dollar it was strictly for an intentional economic blueprint to boost export and increase FOREX earnings.

lexy2014:
What is the progressive news that you say will cause pain to some individuals?

Is it dollar that is $1533?

How much did tinubu meet it?

What are the economic indices that are improving?

Explain your understanding of the dollar exchange rate. Please don't tell me about crude oil. Why does exchange rate matter to you?

professorPABX:
This is off point. GDP per Capita has nothing to do with value of currencies. Nigeria remains the second economy in Africa. When China devalued her Currency against Dollar it was strictly for an intentional economic blueprint to boost export and increase FOREX earnings.

GDP is calculated in USD. When a country's currency loses value, the value of the country's GDP reduces. Even if the country's population remains the same, its GDP per capita shrinks. GDP per capita is the easiest way to calculate the standard of living between countries. GDP per capita uses the Mean Average in its calculation. If it used the Median average, it would be more accurate.

China and Nigeria are different countries. In statistics, the normal curve shows the distribution of data. Data on the tails are outliers and data in the middle represent the highest occurence of an incident. comparing a country with a diversified economy with another without electricity and struggling to educate its citizens is illogical. China devalueing the Yuan gives it a competitive edge. Nigeria Devaluing the Naira makes electricity production more difficult stunting productivity and growth.

Do not compare apples with oranges.

emkz:
Explain your understanding of the dollar exchange rate. Please don't tell me about crude oil. Why does exchange rate matter to you?

It matters because commodities such as oil and Natural gas are priced internationally. When the Naira loses value, the unit cost of energy goes up. It is like a tax on the system that limits growth and causes poverty. This should be obvious to you.

emkz:
Explain your understanding of the dollar exchange rate. Please don't tell me about crude oil. Why does exchange rate matter to you?

That is not what I asked you.

emkz:
As this news will cause pains to certain individuals, they'd now go and look for negative news and go on twitter to stitch stories and talk about the uncultivated land in the north and meaningless things.

They are averse to progressive news about their country.

They are also notorious for going to land that doesn't belong to them to make skits. If you say the land belonged to your brother, how come he never appeared in any of your skits to be nodding his head when you are claiming ownership of what doesn't belong to you?

Nigeria is rising. Economic indices are improving. States are now solvent. Coalition is confused about their economic plans.

Nigeria is winning. Every enemy of Nigeria shall gnash their teeth in pain and sorrow.

Amen.

What is the progressive news that you say will cause pain to some individuals?

Is it dollar that is $1533?

How much did tinubu meet it?

What are the economic indices that are improving?

lexy2014:
That is not what I asked you.



What is the progressive news that you say will cause pain to some individuals?

Is it dollar that is $1533?

How much did tinubu meet it?

What are the economic indices that are improving?

Your answer already tells me you don't exactly possess the capacity to understand the questions you posed.

trillville:
It matters because commodities such as oil and Natural gas are priced internationally. When the Naira loses value, the unit cost of energy goes up. It is like a tax on the system that limits growth and causes poverty. This should be obvious to you.

It is not obvious to me. My expenses are in naira. I don't think in dollar.

Are you implying that oil and natural gas used for energy production within Nigeria have a dollar component? This is not obvious to me at all.

emkz:
It is not obvious to me. My expenses are in naira. I don't think in dollar.

Are you implying that oil and natural gas used for energy production within Nigeria have a dollar component? This is not obvious to me at all.

Commodities are priced the same globally. This is the biggest issue with currencies. Oil is about the same price everywhere so if a country’s currency loses value, it becomes more expensive for its citizens to buy oil.

You can google commodities to get a better understanding.

emkz:
Your answer already tells me you don't exactly possess the capacity to understand the questions you posed.

this is your answer to the questions I asked you.

emkz:
Explain your understanding of the dollar exchange rate. Please don't tell me about crude oil. Why does exchange rate matter to you?

how does it answer the 4 questions I asked you?

emkz:
As this news will cause pains to certain individuals, they'd now go and look for negative news and go on twitter to stitch stories and talk about the uncultivated land in the north and meaningless things.

They are averse to progressive news about their country.

They are also notorious for going to land that doesn't belong to them to make skits. If you say the land belonged to your brother, how come he never appeared in any of your skits to be nodding his head when you are claiming ownership of what doesn't belong to you?

Nigeria is rising. Economic indices are improving. States are now solvent. Coalition is confused about their economic plans.

Nigeria is winning. Every enemy of Nigeria shall gnash their teeth in pain and sorrow.

Amen.

1. What is the progressive news that you say will cause pain to some individuals?

2. Is it dollar that is $1533?

3. How much did tinubu meet it?

4. What are the economic indices that are improving?

aribisala0:
Excess crude account is unconstitutional
The target was set by the FG unilaterally with no rational basis
The money belongs to all tiers of government and should be paid into the federation account
The FG has no authority to operate such an account

Excess crude account was formed by past ministers of finance like okonkwo iweala, Aganga etc to enable to FG to save money no matter the little so that they won't share everything.

Is it now unconstitutional to save money ?

kingbee90:
Forget about all these false statistics.
The real statistics about Nigerian economy can be gotten from the streets where people are lamenting the continous rise in the cost of goods and services.

Tinubu is a FAILURE!

Una just dey craze anyhow. As someone who lives abroad. The way the naira just stood it grounds in recent days calls for applause. It gains rather than fall. But people like you who have nothing to do with exchange rate dealings will just be running mouth anyhow. Mtchewwwww

Lucas4903:
Una just dey craze anyhow. As someone who lives abroad. The way the naira just stood it grounds in recent days calls for applause. It gains rather than fall. But people like you who have nothing to do with exchange rate dealings will just be running mouth anyhow. Mtchewwwww

If it's true that you actually live abroad, why did you decide to become an immigrant aka alien?
Why don't you come back to enjoy Bulaba's golden economy?
That is if you are really abroad oh & not one local hut in Ogbomosho.

immaculatesense:
Who told you we are import dependent?
We now have trade deficits back to back which shows we are more of an export country than an import country. Get your facts right and stop living in the (PRE 2025) past.
No Be Juju Be Dat?

Uninformed Nairalander. Stop embarrassing yourself.

We had a trade surplus. Educate yourself and get informed

lion, according to the National Bureau of Statistics (NBS). This surplus was driven by increased exports, particularly in non-oil sectors, and a slight dip in imports. The total merchandise trade for the quarter was N36.02 trillion, reflecting a 6.19% increase compared to the same period in 2024.

Ijaya123:
They are the emergency lovers of Nigeria.

Just mention them by name.have some balls and call out their name.

immaculatesense:
Who told you we are import dependent?
We now have trade deficits back to back which shows we are more of an export country than an import country. Get your facts right and stop living in the (PRE 2025) past.
No Be Juju Be Dat?

Oga stop deceiving yourself. we are an import dependent nation.

JuanDeDios:
Only as long as it's unstable. Once the economy adjusts to the stable price, it stops being such a huge problem. In any case, we're trying encourage exports, aren't we? Maybe we'll someday get a government that isn't stuck in old ways and will allow the export of agric produce too.

Whether stable or not a weak naira for an import dependent Nigeria is a recipe for disaster.

Believeintruth:
Just mention them by name.have some balls and call out their name.

Anybody with half a brain knows who the emergency lovers of Nigeria are.

Ijaya123:
Anybody with half a brain knows who the emergency lovers of Nigeria are.

Don't be a coward. Why are you scared of mentioning the name? Don't be scared no one will bite you, just be courageous and mention the name

Believeintruth:
Oga stop deceiving yourself. we are an import dependent nation.

Show ur data Oga.
The value of our import last year versus export. Show your data.
Thank God your principal like dishing out statistics. Show us data.

Ttalk:
Uninformed Nairalander. Stop embarrassing yourself.

We had a trade surplus. Educate yourself and get informed

lion, according to the National Bureau of Statistics (NBS). This surplus was driven by increased exports, particularly in non-oil sectors, and a slight dip in imports. The total merchandise trade for the quarter was N36.02 trillion, reflecting a 6.19% increase compared to the same period in 2024.

We are on the same page bro.
I wanted to write surplus but mistakenly wrote deficit.
Don't be too hard on ur boy bro.

immaculatesense:
Show ur data Oga.
The value of our import last year versus export. Show your data.
Thank God your principal like dishing out statistics. Show us data.

Did i tell you I have any principal? I don't understand how you people reason. We are clearly an import dependent nation, it is a clear fact. I am saying this as a concerned citizen not because of any principal. Abeg ooooo before you people will now claim something else.

Believeintruth:
Did i tell you I have any principal? I don't understand how you people reason. We are clearly an import dependent nation, it is a clear fact. I am saying this as a concerned citizen not because of any principal. Abeg ooooo before you people will now claim something else.

Where is ur fact Oga?
Are we importing foodstuffs before we eat? Which is food importation illegal?
Tell me what we are importing before we survive?
We WERE import dependent due to the volume of refined petroleum imported then but now 90% of fuel consumed in Nigeria is homemade.
Show us your FACT and FIGURE it SHUT UP.

immaculatesense:
Where is ur fact Oga?
Are we importing foodstuffs before we eat? Which is food importation illegal?
Tell me what we are importing before we survive?
We WERE import dependent due to the volume of refined petroleum imported then but now 90% of fuel consumed in Nigeria is homemade.
Show us your FACT and FIGURE it SHUT UP.

But we are still importing what are you trying to lie about? We are importing and the naira is very weak.

Believeintruth:
But we are still importing what are you trying to lie about? We are importing and the naira is very weak.

Tell me what we are importing now.
We are importing, we are importing. You no fit talk wetin we dey import.
Are we importing food?
Are we importing clothes?
Are we importing building materials?
These three are the basic essentials of man.
OGA, TELL ME WHAT WE ARE IMPORTING AND IN WHAT QUANTITY.
Talk you no fit talk.
No Be Juju Be Dat?

immaculatesense:
Tell me what we are importing now.
We are importing, we are importing. You no fit talk wetin we dey import.
Are we importing food?
Are we importing clothes?
Are we importing building materials?
These three are the basic essentials of man.
OGA, TELL ME WHAT WE ARE IMPORTING AND IN WHAT QUANTITY.
Talk you no fit talk.
No Be Juju Be Dat?

Oga you know the truth, stop playing ostrich and lying through your teeth

Believeintruth:
Oga you know the truth, stop playing ostrich and lying through your teeth

I know the truth and I have spelled it out.
Speak ur own version of the truth Oga make we rest
WAT DO WE IMPORT AND IN WAT QUANTUM.

You no fit show EVIDENCE?
No Be Juju Be Dat?

immaculatesense:
I know the truth and I have spelled it out.
Speak ur own version of the truth Oga make we rest
WAT DO WE IMPORT AND IN WAT QUANTUM.

You no fit show EVIDENCE?
No Be Juju Be Dat?

According to economists in Nigeria 80% of what we use is imported examples tooth picks, dental floss, tooth brushes. I cam go on and on. You rather prefer to live in self deceit.

Believeintruth:
According to economists in Nigeria 80% of what we use is imported examples tooth picks, dental floss, tooth brushes. I cam go on and on. You rather prefer to live in self deceit.

Quote the economics. Abi na nameless all of them be?
Like I said earlier,
You are still living in pre 2015 era. It was Buhari that made that statement on Channels TV exclusive interview that "Nigeria import toothpicks."
But if you believe that we still import toothpicks as at 2025, then it means you still believe that Nigeria do not have any refinery including Dangote.
Wake up from pre 2015 news and mental programming and live in the reality.
No Be Juju Be Dat?