₦airaland Forum

Thank God for making Buhari the president!!!!

God help us.

Is there still need to keep hoping, are we cursed or what na to find a stable country run go now even if na Benin republic

Let us the Ghana's cedi which states 1 Cedi = 50 Naira.

If the loaf of bread l buy for N300 in Lagos sells for 6 Cedis in Accra, does the Cedis have more value than the Naira?

Are u trying to compare useless naira to cedis or what?

Pavore9:
Let us the Ghana's cedi which states 1 Cedi = 50 Naira.

If the loaf of bread l buy for N300 in Lagos sells for 6 Cedis in Accra, does the Cedis have more value than the Naira?

1Cedi is presently N100.00 , however note that Ghana revalued her currency some years back by removing 4 zeros.while our Naira has never been revalued.
This am sure will still be applicable to some currencies quoted above.
The Naira purchasing power has always been strong until the recent trend , this is due to the then stable state of naira and also because we have a large market which makes it cheaper for our importers to negotiate price hence use cheaper selling price in Nigeria as compared with other countries
Also our taxes are relative lower than most countries , except those France has turned to dumping ground with virtually no taxes on their imported goods.

OXYGEN01:
Are u trying to compare useless naira to cedis or what?

The same size with the one sold for N300?

I don't think African countries really have conversion rates between their currencies. What do I mean? I mean African currencies rates are really rates between country A and US Dollars then country B with US Dollars. I observed this when as I just came back from Ghana on holiday. This is because African countries have more trades with countries outside the continent than within. Also, Naira to GhC is now 100:1 and not 50.

Pavore9:
Let us the Ghana's cedi which states 1 Cedi = 50 Naira.

If the loaf of bread l buy for N300 in Lagos sells for 6 Cedis in Accra, does the Cedis have more value than the Naira?

Let's not use bread as bread have grades. Let's use petrol. Petrol in Ghana is about GhC 3.5 and 1$ = GhC 4. So a litre of petrol in Ghana is about a dollar. While in Nigeria, petrol is N145 and about $0.35. So petrol is surely more expensive in Ghana. While I paid GhC 300 for a suite in Ghana (about 30k). I doubt you can get a suite in Lagos or Abuja for 30k

mfm04622:
Let's not use bread as bread have grades. Let's use petrol. Petrol in Ghana is about GhC 3.5 and 1$ = GhC 4. So a litre of petrol in Ghana is about a dollar. While in Nigeria, petrol is N145 and about $0.35. So petrol is surely more expensive in Ghana. While I paid GhC 300 for a suite in Ghana (about 30k). I doubt you can get a suite in Lagos or Abuja for 30k

Buying Petrol in Kenya for about N360 per litre but ironically transport fare is cheaper in comparison to Nigeria!

We do a 60mins domestic flight for 4,050Ksh ($40)

mfm04622:
I don't think African countries really have conversion rates between their currencies. What do I mean? I mean African currencies rates are really rates between country A and US Dollars then country B with US Dollars. I observed this when as I just came back from Ghana on holiday. This is because African countries have more trades with countries outside the continent than within. Also, Naira to GhC is now 100:1 and not 50.

you have a lot of learning to do

iamord:
you have a lot of learning to do

Pls teach me.

mfm04622:
Pls teach me.

every country has an exchange rate against each other... you just need to find that out...else how do you travel and your naira is being changed in another African country at a specific rate..??