This is what would have happened to Nigeria if Jonathan had been allowed to continue as President when recession hit the whole world.

The right economic policies under PMB brought us out of recession in just a year while Venezuela went fully into total recession despite also being an oil producer.

This kind currency no follow so na suffer that my guy just dey like this chaiii

Bad leadership. The idiot of a president won't step down. Same as Bubu

America wicked die. See wetin they don turn Bolivia into just because Trump maduro disagreements. The masses are suffering it. Not fair from my own view.

So how much would a car cost??
You will need to hire a trailer to carry the money to pay for a car.
PS: You will even need a wheelbarrow to first carry the money to hire the trailer sef....see wahala!

kerry57:
America wicked die. See wetin they don turn Bolivia into just because Trump maduro disagreements. The masses are suffering it. Not fair from my own view.

Venezuela not Bolivia

In the history of Nigeria, we have gone into recession twice and Buhari was in charge on both occasions.

Was Goodluck there in 1984?

Smelly Butterflies

Dudeweedlmao:
This would have been Nigeria's case if not for Buhari.

Sai baba till 2023.
This was PDP plans before until Sai baba came to Nigeria rescue

wait what if i get dis currency nd stockpile in anticipation of it actually getting better



when 1m boliviar currency actually worths 1m

With 2, 500, 000 bolivars you can sleep with 10 mumu fish brain girls for 10 nights , only for them to discover it naira equivalent in BDC that its #3500

BruncleZuma:
On Monday, Venezuelan President Nicolas Maduro will issue a new currency to manage the country's runaway inflation, which the IMF predicts will hit 1,000,000% this year.

The Venezuelan bolivar has become near-worthless, following a severe economic downturn. To show the extent to which hyperinflation has gripped the country, Reuters photographer Carlos Garcia Rawlins created images of everyday food and household items alongside the amount of money it costs to buy them.

A 2.4kg chicken has been costing 14,600,000 bolivars (equivalent to $2.22, or £1.74) in the capital, Caracas.


Last Thursday, a toilet roll cost 2,600,000 bolivars.


Three million bolivars for these carrots.


Venezuelans have been stocking their homes with food before the measures take effect on Monday, amid concerns that confusion and overburdened banking systems could make trade impossible.

A packet of 1kg of rice cost 2,500,000 bolivars.


In July this year inflation hit 82,700%.

Alicia Ramirez, 38, a business administrator, spoke to Reuters in a supermarket in the western city of Maracaibo: "I came to buy vegetables, but I'm leaving because I'm not going to wait in this line.

"People are going crazy."

For a packet of sanitary pads you need 3,500,000 bolivars.


A kilo of tomatoes? That'll be 5,000,000 bolivars.


Monday has been declared as a public holiday, the same day as internet banking operations are halted for several hours and a new set of notes with lower denominations are introduced.

A kilogram of cheese is pictured next to 7,500,000 bolivars.


Nappies could be purchased for 8,000,000 bolivars


And a kilogram of meat cost 9,500,000 bolivars.



Source: https://www.bbc.co.uk/news/amp/world-latin-america-45246409

2.4kg cost $2.22 in Venezuela

How much does it cost in Nigeria?

BruncleZuma:

Those are the baby steps

I think Zimbabwe took a similar approach

Time to go import some fine chiiks from there.

dlondonbadboy:
In the history of Nigeria, we have gone into recession twice and Buhari was in charge on both occasions.

Was Goodluck there in 1984?

Smelly Butterflies

Govt was borrowing to pay salaries to worker's ,state government could not 0ay salaries during PDP era.
Buhari came in and stopped the haemorrhage in Nigeria caused by PDP.
Now he is leading Nigeria to recovery.
Sai baba till 2023

richeeyo:

I think Zimbabwe took a similar approach

Yeah

scully95:
This as a result of negligence on the side of Venezuelans. They ought to have followed Nigerian shoes long go in launching counter economic war by ditching the dollar. https://www.nairaland.com/4678873/nigeria-iran-nations-begin-ditching

The Crypto currency that was intruduced recently was also sanctioned by the same dieing empire.. This they ought to have done since.. Run to China, do currency swap or even turn to accepting Yuan, Euro at local level while ditching dollar. They should change to good old gold system. Sell anything they have in exchange for real gold. This is fighting back big time. They should prepare for a real shooting war cos that is the empire's red line for regime change and a shooting war.


The EMpire's demise is near, it's only weapon left will soon die a natural death and will have nothing to fight again or terrorize the Economy of other countries.
https://www.nairaland.com/4684275/sanctions-sanctions-sanctions-final-demise

See misinformation. What dollar are u ditching. Talk to bankers who treat Form M and Form A every week. If at all Yuan us used for all transactions with China, same factors that drove dollars high relative to naira will drive yuan up.......Inflation rate is not a direct effects of Fx rate.

otokx:
2.4kg cost $2.22 in Venezuela

How much does it cost in Nigeria?

like NGN4500, I may be wrong

Seems their currency is literally not worth the paper it is printed on.

correctguy0900:
Time to go import some fine chiiks from there.

Lol, and I hear say dem chics fine well well...

This is bad and you can't even leave this country as a citizen cos money for visa, passport and so on will cost over trillions of the money. A classic example of we die here.

itswell1:

Govt was borrowing to pay salaries to worker's ,state government could not 0ay salaries during PDP era.
Buhari came in and stopped the haemorrhage in Nigeria caused by PDP.
Now he is leading Nigeria to recovery.
Sai baba till 2023

What was the excuse in '84? Haha.

Go and sotdown. Buhari is clueless...

Is like I will go to Venezuela on my next vacation
Apart from Flight expenses, every other thing will be damn cheap.

This is what happen when a country depends on only one source of income for its foreign exchange.. OIL..
they were smiling to the banks when oil prices were at its peak and they never save for these scourge of famine and economic recesssion...
Nigeria should learn from them as once buoyant economy may swing down anytime if the right things aren't done... build infrastructures,develop technologies, innovate and create an enabling environment for start ups...

Nigeria would've been this way if Jonathan had continued. Moduro had been playing the father Christmas, eating the future of Venezuela. You do not eat your cake and have it. I agree that things are tough but that is called saving for the rainy days. You do not eat every thing you have simply because they appear inexhaustible.
We have sacrificed so much for us to allow hawks to come and squander our gains. This is the very reason I want PMB to continue. Let's complete this tortuous sacrifice and reap its benefits. This is indeed the worst we can get except we hand over to destroyers. The future is bright.

scully95:
This as a result of negligence on the side of Venezuelans. They ought to have followed Nigerian shoes long go in launching counter economic war by ditching the dollar. https://www.nairaland.com/4678873/nigeria-iran-nations-begin-ditching

The Crypto currency that was intruduced recently was also sanctioned by the same dieing empire.. This they ought to have done since.. Run to China, do currency swap or even turn to accepting Yuan, Euro at local level while ditching dollar. They should change to good old gold system. Sell anything they have in exchange for real gold. This is fighting back big time. They should prepare for a real shooting war cos that is the empire's red line for regime change and a shooting war.


The EMpire's demise is near, it's only weapon left will soon die a natural death and will have nothing to fight again or terrorize the Economy of other countries.
https://www.nairaland.com/4684275/sanctions-sanctions-sanctions-final-demise

All those solutions you mentioned will not have saved them from the impending doom at best it would have slowed it a bit and at worst it would have hit harder.
They created their cryptocurrency (it's still a currency, pseudo even though), but what guarantees it value? Their economy? Don't forget that a currency's value in an open market is a rough estimation of the strength of the economy of that country.
Growth is stagnant because their economy is largely dependent on oil (paradox of plenty) and their oil wells are running dry because of lack of maintenance. The little they can produce is used to pay of debts to China, I think, and one other country (or countries).
In fact, Venezuela is where you don't wan't to be as a nation. There's no quick fix. Popular economics wouldn't fix it.

Nigeria is not as bad as this.

That means marrying a Venezuelan lady will be very cheap.

BruncleZuma:
It's progressing and that's not a good indication for us here in Nigeria. Huge oil reserves and irresponsible governing are a dangerous mix for any economy and South Africa is about to join the fray.

South Africa?

JuanDeDios:

South Africa?

Give them time.

The mint production cost is far more than the what it can exchanged for..toilet roll and the hip currency,it is better to wipe your yansh with the currency.