₦airaland Forum

PureFace1:
I see many people complaining about the low value of naira against dollars but if naira value is low it will actually make Nigeria competitive in the International market and make us attractive for export.

Why is Japanese yen and Korean won not high against the dollar? It is also one of the things that China use to beat America in exportation they deliberately lower the value of their Yuan against dollar but not many Nigerians get it.

One of the reasons our exportation is increasing is because naira value is also low it make importing from Nigeria very cheap

China, Japan and Korea are big exporters. Nigeria is not. Nigeria has no competitive advantage in any commodity for export so depreciation is of no use.

As an Economist, devaluation is not a bad thing only if there is sufficient capacity to produce for export and a guarantee that all the produce will be bought by foreign countries. If China were Nigeria, the whole World will shake and plea for consideration, because the World will be a dumbing ground for Nigeria goods. Unfortunately we are not like China, as we cannot even sustain ourselves let alone having enough for export. IMF sold the wrong economics to our President and he couldn't assemble Economics Experts to advise him otherwise, before he stood on the podium the first day to declare these adverse policies on already vulnerable Nigerians.

The same IMF/World Bank that used SAP under IBB to plunge Nigeria from a 2nd tier country into 3rd world?

CodeTemplarr:
He is right but many will object to his submissions.

PureFace1:
I see many people complaining about the low value of naira against dollars but if naira value is low it will actually make Nigeria competitive in the International market and make us attractive for export.

Why is Japanese yen and Korean won not high against the dollar? It is also one of the things that China use to beat America in exportation they deliberately lower the value of their Yuan against dollar but not many Nigerians get it.

One of the reasons our exportation is increasing is because naira value is also low it make importing from Nigeria very cheap

No verbal gymnastics and creative accounting will ever be able to offer a logical reason to rejoice over the nose-dive of Nigeria's naira currency, which traded at the rate of one naira to one British pound sterling in 1976, yet now trades at the eye-watering rate of 2,000 naira to the same one British pound sterling.

By way of comparison, the 1980 exchange rate of the US dollar to the British pound sterling was in the region of $1.30c USD per UK pound sterling, which ironically is STILL the prevailing exchange rate between the US dollar and the British pound, 45 years later this year in 2025.

That stability of exchange rate between those two benchmark currencies over close to a half century, stands in contrast to the freefall plummet of the Nigerian naira's value to an infinitesimally small fraction of its late seventies one-to-one par with the UK pound.

In short, any landed property that one owns in Nigeria today in 2025, is only worth less than a thousandth of its value back in 1980, even when the normal appreciation over time of land values in Nigeria is taken into account . In layman's terms, a Nigerian man with one million naira in his bank account in 1980 could, if he so wished, have invested that money in the UK by purchasing a million-pound London flat or perhaps rural house with some acres of land. Today in 2025, a man with a million naira in his Nigerian bank account will not even be able to afford the round-trip airfare to London, talk less having anything left over to rent a hotel room for a night.

This anecdote illustrates how the REDUCED buying power of the Nigerian naira is not just a bad thing, but an unmitigated calamity unfolding before our eyes, and with no end in sight.

JuanDeDios:
I doubt you understand basic economics. Naira depreciation is NOT a bad thing. Why6 do you think Asian countries keep currencies low? What we should work for is currency STABILITY not a strong currency.

You have come with this half baked oshogbo economics take again , show me the prosperous Asian country with devaluation as bad as ours , apart from from Korea. ..

Below is the list of the top ten economies on earth show me the one with heavily devalued currency since you say it a good thing .

ogolemati:

Kushites:
Oh sure.

They got 25 busy Chinese CEOs and their staff to leave China and fly thousands of miles all the way to Nigeria just to help Tinubu ''give the impression that banditry is not stopping FDIs.''

You people are irredeemable.

Thats another reply to my post from another thread. A 180° turn from yours.

FarahAideed:
It's a bad thing , why are IMF leaders countries currencies not depreciated like the Naira if it's a good thing .and please dont bring Korea here ... Currency devaluation should be considered a crime against humanity , you are literally throwing the sweat and hardwork of honest people into the gutter

Omo at this point, I’m thinking to myself.

Are these people our enemies?

If they talk like an enemy, give advice like they don’t want your progress, tell you to do things they won’t do; omo they are actually your enemy.

This life deep mehn.

FarahAideed:
You have come with this half baked oshogbo economics take again , show me the prosperous Asian country with devaluation as bad as ours , apart from from Korea. ..

Below is the list of the top ten economies on earth show me the one with heavily devalued currency since you say it a good thing .

I said Asian countries keep their currencies weak for a reason. Now, according to your list, provided by yourself, only Western countries have strong currencies.

What's your full-baked argument again?

JuanDeDios:
I said Asian countries keep their currencies weak for a reason. Now, according to your list, provided by yourself, only Western countries have strong currencies.

What's your full-baked argument again?

Again show me the Asian country that deliberately devalued its currency 10x in order to compete .. you people have been peddling this misguided lies for ages while your greedy principals destroy the sweat of Nigerians

I have a attached a list of of top Asian economies , apart from south Korea and Indonesia can you show the economy with tissue paper currency like Nigeria ?

If e good why not depreciate dollar lmao, fela say Oyibo mago mago, them call am United Nations but one veto power equals to 100 lol

FarahAideed:
It's a bad thing , why are IMF leaders countries currencies not depreciated like the Naira if it's a good thing .and please dont bring Korea here ... Currency devaluation should be considered a crime against humanity , you are literally throwing the sweat and hardwork of honest people into the gutter

If u understand economics ver well, u will realize he is saying the truth...

There is a reason pounds, dollars need b strong currency

Our value drops, the value of our raw materials, skills, assets drops, so yes, it is a bad thing...way more cons than pros. We must work for a valuable currency, so all our assets, raw materials, skills will attract high value.

bigpicture001:
If u understand economics ver well, u will realize he is saying the truth...

There is a reason pounds, dollars need b strong currency

I am a trained economics , so please explain to me how bastardly devalued currency is of benefit to any country ? It only benefits those who want to come and steal your natural resources for cheap ...

If it's a good thing why do all the top 20 economies on earth nothing have the nonsense devalued currency

FarahAideed:
Again show me the Asian country that deliberately devalued its currency 10x in order to compete .. you people have been peddling this misguided lies for ages while your greedy principals destroy the sweat of Nigerians

I have a attached a list of of top Asian economies , apart from south Korea and Indonesia can you show the economy with tissue paper currency like Nigeria ?

So the issue for you is the number of times? So they devalued how many times - 9? 8? 7? 2? 1? Your full-baked argument is that it's ok to devalue, just don't do it 10 times?

Anyway, we're agreed on something. You just love to argue, which isn't surprising, given how confused you are about the subject.

Everything is skewed against the Africans. IMF and others are perpetually doling out policies that will down our economies and force our young and talented human capital to emigrate to the West to do menial jobs! ASIA delivered themselves from the bondage decades ago. For Africa, our leaders continue to dine with the oppressors at the detriment of their citizens. You see a person resign from a white collar banking job only to take up a job as a care personnel looking after aged people in the West.

Chukwudi4naija:
As an Economist, devaluation is not a bad thing only if there is sufficient capacity to produce for export and a guarantee that all the produce will be bought by foreign countries. If China were Nigeria, the whole World will shake and plea for consideration, because the World will be a dumbing ground for Nigeria goods. Unfortunately we are not like China, as we cannot even sustain ourselves let alone having enough for export. IMF sold the wrong economics to our President and he couldn't assemble Economics Experts to advise him otherwise, before he stood on the podium the first day to declare these adverse policies on already vulnerable Nigerians.

Devaluation has not delievered any net additional value for Nigeria. The quantum is affecting us badly. Go to retail outlets that were bustling with life 3 years ago and see how comatose they are now. Countries measure retail index and inflation regularly to know how to tweak other indices to their advantage. Do we? Sometimes we even tell lies to cover up what is not working! Shoprite, a major retail outlet has not opened several of their outlets in the past 3 weeks! Do we understand what is going on? They dont seem to be able to meet up operational costs anymore. The only industry that seems to be thriving now is 'wicked politics' and you can see how the country is moving fast to a devilish one-party state.

BlackViper:
https://www.vanguardngr.com/2025/10/naira-depreciation-not-necessarily-bad-imf/

When the exchange was 199 to the dollar some global economists said 400 is the appropriate value. Then we moved it to 480 and rhey came back to say it should be between 690 and 740 and then we moved to 730. Suddenly they said it should be around 960. Then Gbammm it moved to 1600.
Every succeeding government in Nigeria is forced to devalue our currency. Even when we have positive balance of trade and improved foreign reserves, these don't translate to any significant improvement in our exchange rates. Something is amiss.

Our system of government is part of the problem. FG takes the revenues and shares to states. The states want a devalued Naira so they can get more from FAAC. Once FAAC is shared the states go back to forex markets to change again to USD. This form of roundtripping is a great part of the problem with Naira and we are not ready to deal with it.

Net importer? It is

Brendaniel:
But depreciation of dollars is a bad thing abi? Chai! Buhari has proven to be smarter than Tinubu in not listening to this people

Is dollar subsidized? Does the value reflect productivity in the home country? Can you compare the above with a subsidized currency that the productivity of the country cannot defend? That made fx arbitragers become overnight billionaires with no productivity.

If it’s not a bad thing, let them devalue USD, Euros and Pounds so that 1USD, Euro or pounds will be equal 1 Naira. Hypocrites

Very wicked people. Very very wicked and heartless selfish organization.

Your love for suffering even when it can be reduced is pathetic

Jakumo:
No verbal gymnastics and creative accounting will ever be able to offer a logical reason to rejoice over the nose-dive of Nigeria's naira currency, which traded at the rate of one naira to one British pound sterling in 1976, yet now trade at the eye-watering rate of 2,000 naira to the same one British pound sterling.

By way of comparison, the 1980 exchange rate of the US dollar to the British pound sterling was in the region of $1.30c USD per UK pound sterling, which ironically is STILL the prevailing exchange rate between the US dollar and the British pound, 45 years later this year in 2025.

That stability of exchange rate between those two benchmark currencies over close to a half century, stands in contrast to the freefall plummet of the Nigerian naira's value to an infinitesimally small fraction of its late seventies one-to-one par with the UK pound.

In short, any landed property that one owns in Nigeria today in 2025, is only worth less than a thousandth of its value back in 1980, even when the normal appreciation over time of land values in Nigeria is taken into account . In layman's terms, a Nigerian man with one million naira in his bank account in 1980 could, if he so wished, have invested that money in the UK by purchasing a million-pound London flat or perhaps rural house with some acres of land. Today in 2025, a man with a million naira in his Nigerian bank account will not even be able to afford the round-trip airfare to London, talk less having anything left over to rent a hotel room for a night.

This anecdote illustrates how the REDUCED buying power of the Nigerian naira is not just a bad thing, but an unmitigated calamity unfolding before our eyes, and with no end in sight.

Gbam. Thank you very much.

PureFace1:
I see many people complaining about the low value of naira against dollars but if naira value is low it will actually make Nigeria competitive in the International market and make us attractive for export.

Why is Japanese yen and Korean won not high against the dollar? It is also one of the things that China use to beat America in exportation they deliberately lower the value of their Yuan against dollar but not many Nigerians get it.

One of the reasons our exportation is increasing is because naira value is also low it make importing from Nigeria very cheap

.
To add to the excellent words of Jakumo, your mistake is elementary. Only high producing countries can afford to devalue their currencies. ANY COUNTRY that is so import dependent that it imports even toothpicks and match stick is playing with fire if it does so. Reason is simple - you will have to pay more and more of your currency for everything you buy since you are import dependent, leading to a vicious cycle of inflation.

Its elementary economics.

Not a bad thing for foreign lenders and predatory neo colonialists.
But very harmful to the local economy.

Vision101:
Is dollar subsidized? Does the value reflect productivity in the home country? Can you compare the above with a subsidized currency that the productivity of the country cannot defend? That made fx arbitragers become overnight billionaires with no productivity.

Leave all these long talks, look at the results

They would be encouraging African to continue to devalue their currencies....why not start with USA, UK and Canada.


And some evil people in African continues to support then

Our mumu don too mich

justmondris:
If it’s not a bad thing, let them devalue USD, Euros and Pounds so that 1USD, Euro or pounds will be equal 1 Naira. Hypocrites

Don't mind all those evil organisations...Imf, world bank, UN , WHO, WTO are alll demonic organisations that enjoy seeing Africans suffer

bigpicture001:
If u understand economics ver well, u will realize he is saying the truth...

There is a reason pounds, dollars need b strong currency

No wonder economists continue to destroy nations...very useless course...They never give solutions that lift nations, than to come up with austerity measures that continue to destroy lives.

Wasted and useless education

The word depreciation is a bad thing

Puppeteer Mocking us!
Their puppets are implementing their plans slowly for the final "kill" for absolute poverty...


WEF: You will own nothing & you will be happy!
End times things..for the New World Economic Order

Solution: Secure your life and eternity in Christ Jesus!