₦airaland Forum

"Solomon Elusoji speaks on value of naira (and dollar) in the most non-complex way. The best explanation I've read. In a nutshell, our naira value will increase when we produce more and import less. But this will take time and in that time, life will be a bit difficult. Won't be easy, but we must strive to live it. Won't last for too long. Nigeria will be great again."Petra Akinti

"If you don't understand what's happening with the naira and dollar, read this.

Money is not wealth, but only a form of measuring wealth. So, the naira and dollar have no value in themselves. They derive their value from the amount of wealth (goods and services) produced in Nigeria and the United States respectively.

To understand this better, picture a bottle of coke. Money is the bottle and the liquid inside the bottle is wealth. You get?

So, let's say one naira is one empty coke bottle and one dollar is another empty coke bottle. That means that I can give you my one naira for your one dollar and we will both be happy. Right?

But what if I have a dollar coke bottle that is full with liquid and you have a naira coke bottle that is only half-full? Think about it. It means I will expect you to give me TWO of your half-full bottles in exchange for just ONE of mine.

So, one dollar will equal two naira.

It is the same coke bottle, but the contents are not the same. And remember that the bottle has no value, only the liquid inside it.

What has happened with the naira in recent times is that the contents of its coke bottle has been reducing (sliding oil prices), while the dollar coke bottle is still maintaining its full content.

So, the more the content declines, the more naira coke bottles I will demand for my ONE full dollar coke bottle.

Makes sense?

So, how exactly do we ensure that the naira equals the dollar. Isn't it obvious already:

Pour more liquid into the naira. Make it full.

This means we have to produce more goods and services. Create more wealth.

You see, it ain't rocket science.

Good evening guys."

https://m.facebook.com/story.php?story_fbid=527810484065496&substory_index=0&id=246109565568924&_ft_=top_level_post_id.527810484065496%3Atl_objid.527810484065496&refid=17&__tn__=%2C%3B

Crap.

rexel99:
Crap.

Did you even read?

rexel99:
Crap.

he is making common sense

[b]The efforts of Nigerian government to recover the looted fund without the full supports of Nigerian would not make the task easy for the government, to recover the looted fund, we are hearing that the looters will fight back the nation and they were doing so without hide! it's samefull to this nation that a few elements with their evil acts and their colaborators hold down the 170 million nigerian in sufferance at the watch of themselves without any reactions isn't this a shame to the nation? If $1 trillion is unaccounted for and we are looking elsewhere for an angel to come and fix our economy for us without taken the looters responsible, it's a shame to this nation, if we still depend on the aid of western world , Usa, Asia gulf state for our own survival while harbouring the looters who looted us to bone without challenge, then it's a shame to the nation! if the Europian looted their treasory can they have the money to fix their economy talkless of helping others. if a party which formed for the service of the people openly support and protected the looters it is a shame, enough is enough for the office holders and publics sevants who looting nigeria treasory. NLFRC is now at watch of you looters and a drastic action will be taken against any looters!
here is some of the action taken so far:
Letter to the UN
Letter to the EU
Letter to the world bank and monetary institutions
Letter to the AU
Letter to the ECOWAS
Letter to the nations: Swis, Gb, Usa, Germany, Asian nation, Gulf states etc
we let's these international communities known that we need their full support on how to help nigerian government recover every kobo looted in nigeia and placed in their countries, no more hide out for the looters any longer, they either return the looted fund at their disposure or return it, no other options, they may try to play god or take is as joke all for their peril!

JOIN NLFRC Crusade to save nigeria nation!
NLFRC: Nigeria Looted Fund Reserve Recovered Crusade.
GOD BLESS NIGERIA....AMEN

co-ordinator oyinkinola[/b]

At this time i'm glad that GEJ is no longer the president.

Had GEJ won and dollar is N380 to $1, what we would have been hearing from the zombies is, had it been buhari, dollar for be N1 to $1.

Jirate:
Just think of the Naira hitting its present level under GEJ, what would APC with their evil crowds say?, look, let call "a Spade a Spade", [s]Buhari has failed Woefully as far as Economic Planing and Economic policies are Concerned. Period.

[/s]

...an interesting question, at the time of Gej, 1.nigeria didn't have hope of recovered the LFR. 2.Gej seems the finding father of the LFR!
how can nigeria accept the depreciation of naira that can't bring gain to nigeria!

Excuse of a failed party.
The budget says it all