See How Much The Nigerian Naira Has Been Destroyed! (photo) - Business

See How Much The Nigerian Naira Has Been Destroyed! (photo) - Business - Nairaland

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See How Much The Nigerian Naira Has Been Destroyed! (photo) by DeMoneyGenius(op): 4:23pm On Sep 23, 2020*

I was going through some old stuff in the house and I found this quarter dollar coin.
As recently as 1985, this coin is worth just about 22 kobo ($1 = 89 kobo).
But today, this coin is worth 116.75 naira ($1= 467 naira.)
That's 11 675 kobo, representing a 52, 968% crash in just 35 years!
Can the naira ever be valuable again in this life?

Cc
puskin
Dominique
FOD
Naijacutee

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Re: See How Much The Nigerian Naira Has Been Destroyed! (photo) by matrix199(m): 4:34pm On Sep 23, 2020

Eiye o ke bi eiye mo.

Birds don't cry like birds again.

The Nigeria of our dream is lying in the past.

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Re: See How Much The Nigerian Naira Has Been Destroyed! (photo) by fanjugu: 5:07pm On Sep 23, 2020

naira don become wetin be this

Re: See How Much The Nigerian Naira Has Been Destroyed! (photo) by ecomalchemist(m): 5:08pm On Sep 23, 2020

Naija don cast tey tey.

2000 was worse than 1990

2010 was worse than 2000

2020 is nothing to write home about.

The trend is scary, its time to do the needful.

Yo, if you ask me any stupid question like 'IF yOu LeAvE NiGerIa, WhO wILL fiX It' Ogun will visit you because there are a million and one people that can stay back and fix the country with thier tools.

1 Like

Re: See How Much The Nigerian Naira Has Been Destroyed! (photo) by illicit(m): 5:43pm On Sep 23, 2020

E shock u

Re: See How Much The Nigerian Naira Has Been Destroyed! (photo) by mariahAngel(f): 8:15pm On Sep 23, 2020

DeMoneyGenius:
I was going through some old stuff in the house and I found this quarter dollar coin.
As recently as 1985, this coin is worth just about 22 kobo ($1 = 89 kobo).
But today, this coin is worth 116.75 naira ($1= 467 naira.)
That's 11 675 kobo, representing a 52, 968% crash in just 35 years!
Can the naira ever be valuable again in this life?

Cc
puskin
Dominique
FOD
Naijacutee

Apart from looting, what do you think killed and is still killing our economy?
Where did we get it wrong?
We need to retrace our steps... What was it that we were doing before that we no longer do?
According to the older generation, Nigeria was doing perfectly well, until oil was discovered. Then, the young people (of that time) began to leave their fathers' lands in droves, heading towards one direction for the "better life"
They all wanted jobs, leaving their fathers' lands unattended to....

Agriculture is our only hope for food security and wealth distribution.
Agriculture begets raw materials.
Raw materials begets production/exportation.
Production begets Jobs/Exportation begets value in currency.
Jobs equal happy people, thriving nation.

1 Like

Re: See How Much The Nigerian Naira Has Been Destroyed! (photo) by Mide3367(m): 9:28am On Sep 25, 2020

Re: See How Much The Nigerian Naira Has Been Destroyed! (photo) by Scout60(m): 10:10am On Sep 25, 2020

DeMoneyGenius:
I was going through some old stuff in the house and I found this quarter dollar coin.
As recently as 1985, this coin is worth just about 22 kobo ($1 = 89 kobo).
But today, this coin is worth 116.75 naira ($1= 467 naira.)
That's 11 675 kobo, representing a 52, 968% crash in just 35 years!
Can the naira ever be valuable again in this life?

Cc
puskin
Dominique
FOD
Naijacutee

Check my signature. call or WhatsApp me. it is urgent

1 Reply

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