₦airaland Forum

DexterousOne:
What kind of write up is this ?


It must be an economic illiterate that wrote this crap :,X

DexterousOne:
What kind of write up is this ?


It must be an economic illiterate that wrote this crap

DexterousOne:
The article is written by someone who does not know what he is saying


NGN more valuable than the USD, ?

Let's look at the income side

There is a proven stat

That roughly 2% of account holders

Take note; not Nigerians
Account holders
.that have up to N500K bulk sum

That's one
Two
Moat Nigerians cannot boast of a N200k monthly income
Even professionals

When doctors and nurses and accountants are earning the equivalent of what blue collar workers will reject in Britain
That's when you know how useless the currency is


You say things are cheap and on that basis, the naira has more "weight?"
What will you say about the vietnamese dong that is far weaker than the NGN and can buy you more in Vietnam

Does that mean that the Dong is more valuable than the naira?


The only part of the article where I believe he is correct

Is where he talks of our lack of productivity
That one is a big stain on our country.

But as for the rest of what he said
That's crap


There is an economic underpin called CHOICE

The more elbow room for choice you have
The more viable and sound an economy is

If he chooses to eat or buy all that crap he listed
That's his choice
But others who choose to buy other stuff
That's their choice too


Economic layman trying to sound smart

NL1960:
This where you and some people always miss it which the writer is trying to point out. Always fast to compare with either Britain or US. Is Britain now the standard for comparison?. How much does the blue worker pay for rent in Britain and how much does the Nigeria Doctor or Nurse pay for a 2-bedroom apartment for instance. What each earn is relative to what he/she has to pay for living expenses.

Tabuse2024:
As in eh. I do not even know how to feel about it sef. It comes across as emotional and patriotic. Even my basic economics tells me that the logic may not be right.

How many Nigerians can afford those things he highlighted? Good food, fruits, standard 3 meals per day, what is current cost of living? What purchasing power does the average Nigerian have? Why are we the poverty capital of the world?....all with this our valuable currency.

Maybe a more enlightened person could educate the house....

DexterousOne:
Good questions you asked

The writer is ignorantly trying to say that Nigeria and Nigerians should not pay much attention to the forex..

The structure of the Nigerian economy however betrays that suggestion.

Now that the USD is sliding further down
Bread that is a staple across Nigeria

Made from largely imported wheat/ flour
Sourced abroad

What happens to the price of bread after this slide in the exchange rate

I dont want to get angry this afternoon

Let me just pretend like I did not see or read the article

DexterousOne:
The article is written by someone who does not know what he is saying


NGN more valuable than the USD, ?

Let's look at the income side

There is a proven stat

That roughly 2% of account holders

Take note; not Nigerians
Account holders
.that have up to N500K bulk sum

That's one
Two
Moat Nigerians cannot boast of a N200k monthly income
Even professionals

When doctors and nurses and accountants are earning the equivalent of what blue collar workers will reject in Britain
That's when you know how useless the currency is


You say things are cheap and on that basis, the naira has more "weight?"
What will you say about the vietnamese dong that is far weaker than the NGN and can buy you more in Vietnam

Does that mean that the Dong is more valuable than the naira?


The only part of the article where I believe he is correct

Is where he talks of our lack of productivity
That one is a big stain on our country.

But as for the rest of what he said
That's crap


There is an economic underpin called CHOICE

The more elbow room for choice you have
The more viable and sound an economy is

If he chooses to eat or buy all that crap he listed
That's his choice
But others who choose to buy other stuff
That's their choice too


Economic layman trying to sound smart

Nigsrdumb:
Agreed apart from the food part.

DexterousOne:
Apart from the food part?

Please can you clarify on that?

Cyberknight:
I sincerely hope this is not the standard of discourse among our policymakers or those who influence them, given the wide dissemination on WhatsApp that piece of rubbish appears to have had.

Nigsrdumb:
Is pizza better than amala?

Cyberknight:
You can say that again.
I sincerely hope this is not the standard of discourse among our policymakers or those who influence them, given the wide dissemination on WhatsApp that piece of rubbish appears to have had.

I need to watch my blood pressure these days.

DexterousOne:
Good questions you asked

The writer is ignorantly trying to say that Nigeria and Nigerians should not pay much attention to the forex..

The structure of the Nigerian economy however betrays that suggestion.

Now that the USD is sliding further down
Bread that is a staple across Nigeria

Made from largely imported wheat/ flour
Sourced abroad

What happens to the price of bread after this slide in the exchange rate

I dont want to get angry this afternoon

Let me just pretend like I did not see or read the article

DexterousOne:
It's for the individual consumers to decide
That is the economy for you


Choice is central
And it's that lack of choice that kills communist countries

Nigsrdumb:
Oga leave tory, we have our own indigenous food and acquired taste.

Everything else na copycat.

A copycat culture that is embedded in deep inferiority complex.

Plus amala and gberi is more nourishing

DexterousOne:
Disagree

Leezah:
Pls thank the author of this piece for me. I like it raw as it is�

THE VALUE OF THE NAIRA: A REVELATION THE VALUES OF NIGERIANS!

A currency's value is what is can fetch those who use it as a means of exchange!

Those in America use dollars and those in the UK use pounds sterling. Emiratis use Dirhams and Indians Rupees. Nigerians therefore use the Naira.

The Naira today, is equivalent to 600 units to the GB£ and 500 units to the US$.

Though we are quick to lampoon the Naira as worthless, but let us compare how much value each of these currencies equivalents fetch their owners/holders, within their borders?

In the US, a dollar ($) may not buy you more than a small bottle of water, while N500 will buy you a pack of 12 of the same bottles of water in Nigeria!

A pound (GB£) may not buy you even a small loaf of bread in London, but in Lagos, N600 will buy you and your partner, breakfast for 2, consisting of one N250 big loaf of bread, 4 fried eggs and 2 bottles of water!

Days ago, I bought 50 pcs of medium size oranges from the Ketu fruit market for N1,000, that's just $2! I bought 3 pineapples for N500 ($1)!

A litre of fuel costs N160 in Lagos, but cost $0.86 (N430) in New York! While I know people who pay cad1,700 (N500,000) per month for their glorified room and parlour self-contained in Ottawa, that is what a friend pays in 6 months, for a 2 bedroom apartment, with separate toilet, bathroom and proper kitchen, in Dolphin Estate, Ikoyi!

So why do Nigerians make so much noise over the value of their currency, when it still fetches them more value than the other currencies that they pitch the Naira against? The answer is simple: the "values" of Nigerians!

While Nigerians reacted with consternation at Dino Melaye's obnoxious display of his stolen wealth, the average Nigerian behaves exactly like Dino Melaye! From the man on the streets to the Churchpreneurs who claim to represent God!

They produce nothing, but want to flaunt everything!

Someone lamented to me about his wife's tenant, who has failed to pay N120,000 rent, for nearly a year, but slaughtered a ram and made festivities, worth N150,000, during the last Moslem "Ileya" festival!

Ask me what the idiot produces? Zilch!

Had this same debtor taken the N150,000, wasted on the one day feasting to the market, it will be more than enough to set up a fried Yam, sweet potatoes, Akara business, that can net him N300,000 monthly, and take him out of poverty and debt forever!

So, because Nigerians are unproductive at home, but consume from used clothes, to fake hair and eye lashes, to even PMS, from the abroad, they keep whining about the value of the dollar/pound-sterling against their currency.

There are universities in Nigeria, and I had my education entirely in Nigeria! So, if I chose to send my children abroad, what is the headache of the government in my personal decision, should the currency in their country of choice proves unaffordable to me? Who send me?

My personal definition of the problem with Nigeria is that, the policies of the State are manipulated to suit the indulgences of certain classes of Nigerians, who feed fat on the miseries of the masses.

Government resorted to importing fuel because some privileged Nigerians criminally destroyed our refining capacities. Rather than punish them, we put the punishment on Nigerians.

Government "subsidized" the same imported fuel, to create artificial opportunities for some privileged people to loot our treasury, under the artificially created system of "subsidies".

These Nigerians and their fraudulent economists should stop fooling themselves about the poor exchange rates of the nation's currency. 95% of the citizens of this country need food, water, Medicare, etc, obtainable in Naira!

If some useless, lecherous and unproductive, yet entitled, vanity flaunting elements like Dino Melaye, need foreign currencies to feed their insanity, what has that got to do with Nigeria?

If you want to indulge in the zero nutrition Orange, imported from wherever and sold at times ten that of super tasting Oranges from Benue, must Nigeria care about your price plight? Who send you?

If you chose Pizza over Aboki freshly cooked spicy bread and eggs, please find enough Naira to indulge in your borrowed Italian taste. #KokanAye!

This argument over our poor currency is a lie of the elite to pass their problems as everyone's!

Days ago, I made a 4 litre bowl of cooked beans (enough to feed at least 8 adults) from a N200 ($0:40) measure of beans! Add another N500 ($1) worth of sweet potatoes, and you have a super nutritious meal for 8 adults!

That's less than $3 in total, N1,500 (including the costs of other stuff like onions, peppers and oil), to feed 8 adults?

Before you complain that the Naira is weak, tell me what you need the foreign currencies for, and #Eruobodo will show you how you and Dino Melaye are related!

Copied!

ultron12345:
Correct.

Like I always say, there is nothing wrong with the land called Nigeria, there is nothing wrong with River Niger and Zuma Rock. The only problem with Nigeria is the kind of people inhabiting the land. Nigerians are a cancer to Nigeria. There is no major difference between the land Nigeria, and the land Canada. The only difference is that one is occupied by smart people while the other by stupid people.

Someone was telling me about a Nigerian that got a political position in Canada and made a statement "that he hopes, one day, Nigeria will start to reward merit". I told the person that I don't agree. Nigeria cannot reward merit, neither can Canada. These are just lands. It is the inhabitants of Canada, Canadians that recognize and reward merit. The inhabitants of Nigeria on the other hand, prefer nepotism. Nigerians do not recognize and reward merit, but you'll see Nigerians saying "Nigeria", trying to dissociate themselves from the problem.

Again, I'm usually shocked at how boastful Nigerians are. Someone up there said Nigerians are the most hardworking and honest people.... Lol.
Nigerians will claim they're the smartest, most intelligent, most hardworking people in the world. It's surprising how a people that cannot manufacture ordinary toothpick believe they're more intelligent than people that are traveling into space. People with productivity per capita of $2000 believe they're more hardworking than Americans, Japanese, Singaporeans with productivity per capita of $62000, $39000, and $64000 respectively. A country of 200Million of the "most hardworking and smartest individuals in the world" has a GDP of $400B, while a country of 35Million "less hardworking and less smart" Canadians have GDP of $1.7Trillion. Just 8.5Million Swiss people make GDP of $705B, far more than 200 million of the so-called "most hardworking and smartest individuals in the world". Dr Ola said on twitter that there's no evidence that for Nigerians being the most enterprising people, not when you have the Jews, Lebanese, Indians. You can even see their exploits here in Nigeria. According to these statistics, if anything, Nigerians are among the laziest, most unproductive and dumbest set of people in the world.

Nigerians will give excuse of "environment", saying the Nigerian environment is bad. The reason the Nigerian environment is bad is because Nigerians failed to build a good environment. The good environment in US, UK, China, Norway, Canada did not fall from heaven, it was built by Americans, Britons, Chinese, Norwegians, and Canadians respectively. Upon the good environment in the UAE, Malaysia and other countries, Hushpuppy and other Nigerians still go there to do rubbish. Hence, I'm not surprised Nigerians are being banned everywhere.

Excelling abroad ke? Nigerians just like to make noise. Did you know that among US immigrants, Nigerian American immigrants are not even among the top 60 in terms of median household income. The Indians, Chinese and co top that list. Even amongst Africans, South African Americans, Egyptian Americans and Ghanaian Americans earn more than Nigerian Americans (who actually earn less than the overall American average). Whatever you think Nigerians are doing abroad, others like the Indians, Chinese, Lebanese have done far far more. Just that Nigerians like to make more noise.

https://en.m.wikipedia.org/wiki/List_of_ethnic_groups_in_the_United_States_by_household_income

Next, they'll be pointless their crooked fingers at the leaders. And I ask, are the government not Nigerians, are the leaders not from amongst the people. All the looting politicians, all the SARS that are killing, that did not come from another planet, they are all from amongst the citizens. They are a microcosm, a cross-section of the citizens. They say they apple does not fall far from the tree. A multitude of demons cannot give rise to angels as leaders. Bad citizens will always give rise to bad leaders.


Nigerians are just a failure of a people, that's why Nigeria is the way it is today.

NB: I never said there are no hardworking, smart, intelligent Nigerians. I only said that these set of Nigerians constitute a very tiny minority of Nigerians, far less than 10%. And if 90% of a product is defective, it's fair to say the entire product is defective.

ultron12345:
Correct.

Like I always say, there is nothing wrong with the land called Nigeria, there is nothing wrong with River Niger and Zuma Rock. The only problem with Nigeria is the kind of people inhabiting the land. Nigerians are a cancer to Nigeria. There is no major difference between the land Nigeria, and the land Canada. The only difference is that one is occupied by smart people while the other by stupid people.

Someone was telling me about a Nigerian that got a political position in Canada and made a statement "that he hopes, one day, Nigeria will start to reward merit". I told the person that I don't agree. Nigeria cannot reward merit, neither can Canada. These are just lands. It is the inhabitants of Canada, Canadians that recognize and reward merit. The inhabitants of Nigeria on the other hand, prefer nepotism. Nigerians do not recognize and reward merit, but you'll see Nigerians saying "Nigeria", trying to dissociate themselves from the problem.

Again, I'm usually shocked at how boastful Nigerians are. Someone up there said Nigerians are the most hardworking and honest people.... Lol.
Nigerians will claim they're the smartest, most intelligent, most hardworking people in the world. It's surprising how a people that cannot manufacture ordinary toothpick believe they're more intelligent than people that are traveling into space. People with productivity per capita of $2000 believe they're more hardworking than Americans, Japanese, Singaporeans with productivity per capita of $62000, $39000, and $64000 respectively. A country of 200Million of the "most hardworking and smartest individuals in the world" has a GDP of $400B, while a country of 35Million "less hardworking and less smart" Canadians have GDP of $1.7Trillion. Just 8.5Million Swiss people make GDP of $705B, far more than 200 million of the so-called "most hardworking and smartest individuals in the world". Dr Ola said on twitter that there's no evidence that for Nigerians being the most enterprising people, not when you have the Jews, Lebanese, Indians. You can even see their exploits here in Nigeria. According to these statistics, if anything, Nigerians are among the laziest, most unproductive and dumbest set of people in the world.

Nigerians will give excuse of "environment", saying the Nigerian environment is bad. The reason the Nigerian environment is bad is because Nigerians failed to build a good environment. The good environment in US, UK, China, Norway, Canada did not fall from heaven, it was built by Americans, Britons, Chinese, Norwegians, and Canadians respectively. Upon the good environment in the UAE, Malaysia and other countries, Hushpuppy and other Nigerians still go there to do rubbish. Hence, I'm not surprised Nigerians are being banned everywhere.

Excelling abroad ke? Nigerians just like to make noise. Did you know that among US immigrants, Nigerian American immigrants are not even among the top 60 in terms of median household income. The Indians, Chinese and co top that list. Even amongst Africans, South African Americans, Egyptian Americans and Ghanaian Americans earn more than Nigerian Americans (who actually earn less than the overall American average). Whatever you think Nigerians are doing abroad, others like the Indians, Chinese, Lebanese have done far far more. Just that Nigerians like to make more noise.

https://en.m.wikipedia.org/wiki/List_of_ethnic_groups_in_the_United_States_by_household_income

Next, they'll be pointless their crooked fingers at the leaders. And I ask, are the government not Nigerians, are the leaders not from amongst the people. All the looting politicians, all the SARS that are killing, that did not come from another planet, they are all from amongst the citizens. They are a microcosm, a cross-section of the citizens. They say they apple does not fall far from the tree. A multitude of demons cannot give rise to angels as leaders. Bad citizens will always give rise to bad leaders.


Nigerians are just a failure of a people, that's why Nigeria is the way it is today.

NB: I never said there are no hardworking, smart, intelligent Nigerians. I only said that these set of Nigerians constitute a very tiny minority of Nigerians, far less than 10%. And if 90% of a product is defective, it's fair to say the entire product is defective.

ahiboilandgas:
there is the eastern line port Harcourt to maidiguri and the coastline line baylesa to Lagos , then the western line Lagos to abuja ....the Lagos to ibadan sections has been completed like wise the kaduna to abuja ....next phase is ibadan to abuja and kaduna to kano .....mean while apapa to ibadan sections is currently fixed to move cargo from port ....that why the costain bridges in Lagos is demolished....if u go near leadway office in surulere look down under the bridge the see the project .......the warri to itakape line has been completed and it runing ..it suppose to move iron ore from iktape in kogi to delta steel ....but as usual Nigerians only wipe up nepotic sentiment..
..the coastal line was adward by Jonathan for 5 bn dollars from swamp baylesa to Lagos...

Sholapey:
Government is confused, people are angry. Too much bloodshed, Evil mindset, dark clouds everywhere in Nigeria. Only God can heal the land.

Grupo:
Open with access bank.

DexterousOne:
Is that all you could pick from all I said?


The man is nor fit to be president

And all his wrong policies are testament to it

I get it

You are his fanboy....
But do some deep thinking

Will you confidently say that he has done a good job in his 5 years plus of his presidency.

His report card comes to my desk every quarter
And he gets F9 back to back


As for you saying I'm using "gutter language "

This is probably the most polite way I can even address the issue

You have the right to call it whatever you like
But many of us know that the man is failed president

Salvationone:
Boss, please i need clarification on transfer from my dom account to another customer. Am thinking of transferring the little balance in my dom account

AtoningBlood:
My brother Grupo, thanks.

Do you have a dom account with them?

Thanks.

Leezah:
Pls thank the author of this piece for me. I like it raw as it is�

THE VALUE OF THE NAIRA: A REVELATION THE VALUES OF NIGERIANS!

A currency's value is what is can fetch those who use it as a means of exchange!

Those in America use dollars and those in the UK use pounds sterling. Emiratis use Dirhams and Indians Rupees. Nigerians therefore use the Naira.

The Naira today, is equivalent to 600 units to the GB£ and 500 units to the US$.

Though we are quick to lampoon the Naira as worthless, but let us compare how much value each of these currencies equivalents fetch their owners/holders, within their borders?

In the US, a dollar ($) may not buy you more than a small bottle of water, while N500 will buy you a pack of 12 of the same bottles of water in Nigeria!

A pound (GB£) may not buy you even a small loaf of bread in London, but in Lagos, N600 will buy you and your partner, breakfast for 2, consisting of one N250 big loaf of bread, 4 fried eggs and 2 bottles of water!

Days ago, I bought 50 pcs of medium size oranges from the Ketu fruit market for N1,000, that's just $2! I bought 3 pineapples for N500 ($1)!

A litre of fuel costs N160 in Lagos, but cost $0.86 (N430) in New York! While I know people who pay cad1,700 (N500,000) per month for their glorified room and parlour self-contained in Ottawa, that is what a friend pays in 6 months, for a 2 bedroom apartment, with separate toilet, bathroom and proper kitchen, in Dolphin Estate, Ikoyi!

So why do Nigerians make so much noise over the value of their currency, when it still fetches them more value than the other currencies that they pitch the Naira against? The answer is simple: the "values" of Nigerians!

While Nigerians reacted with consternation at Dino Melaye's obnoxious display of his stolen wealth, the average Nigerian behaves exactly like Dino Melaye! From the man on the streets to the Churchpreneurs who claim to represent God!

They produce nothing, but want to flaunt everything!

Someone lamented to me about his wife's tenant, who has failed to pay N120,000 rent, for nearly a year, but slaughtered a ram and made festivities, worth N150,000, during the last Moslem "Ileya" festival!

Ask me what the idiot produces? Zilch!

Had this same debtor taken the N150,000, wasted on the one day feasting to the market, it will be more than enough to set up a fried Yam, sweet potatoes, Akara business, that can net him N300,000 monthly, and take him out of poverty and debt forever!

So, because Nigerians are unproductive at home, but consume from used clothes, to fake hair and eye lashes, to even PMS, from the abroad, they keep whining about the value of the dollar/pound-sterling against their currency.

There are universities in Nigeria, and I had my education entirely in Nigeria! So, if I chose to send my children abroad, what is the headache of the government in my personal decision, should the currency in their country of choice proves unaffordable to me? Who send me?

My personal definition of the problem with Nigeria is that, the policies of the State are manipulated to suit the indulgences of certain classes of Nigerians, who feed fat on the miseries of the masses.

Government resorted to importing fuel because some privileged Nigerians criminally destroyed our refining capacities. Rather than punish them, we put the punishment on Nigerians.

Government "subsidized" the same imported fuel, to create artificial opportunities for some privileged people to loot our treasury, under the artificially created system of "subsidies".

These Nigerians and their fraudulent economists should stop fooling themselves about the poor exchange rates of the nation's currency. 95% of the citizens of this country need food, water, Medicare, etc, obtainable in Naira!

If some useless, lecherous and unproductive, yet entitled, vanity flaunting elements like Dino Melaye, need foreign currencies to feed their insanity, what has that got to do with Nigeria?

If you want to indulge in the zero nutrition Orange, imported from wherever and sold at times ten that of super tasting Oranges from Benue, must Nigeria care about your price plight? Who send you?

If you chose Pizza over Aboki freshly cooked spicy bread and eggs, please find enough Naira to indulge in your borrowed Italian taste. #KokanAye!

This argument over our poor currency is a lie of the elite to pass their problems as everyone's!

Days ago, I made a 4 litre bowl of cooked beans (enough to feed at least 8 adults) from a N200 ($0:40) measure of beans! Add another N500 ($1) worth of sweet potatoes, and you have a super nutritious meal for 8 adults!

That's less than $3 in total, N1,500 (including the costs of other stuff like onions, peppers and oil), to feed 8 adults?

Before you complain that the Naira is weak, tell me what you need the foreign currencies for, and #Eruobodo will show you how you and Dino Melaye are related!

Copied!

Alexgeneration:
If you really agree with the writer of this crap,

Which will you accept #1,000 or $1,000, regardless of where you will spend it?

ahiboilandgas:
1000 or 2.3 USD regardless of where u spend it...u might get a cut and a plate of pounded yam in Nigeria while in us u might a bottle of coke and ?.