₦airaland Forum

Alot of people hear that things are going wrong and its a result of bad governance and policies. They dont really understand how it affects them. Let me illustrate.

As an importer you started the year with a capital of 10,000 dollars(3.5m). You were trading and grew your money from 3.5m to 4.5m at the end of the year. Today dollar is sold for 475 and today the 4.5m is 9846 dollars.


So after all the sales and profit you made for a whole year, you money is less than the 10,000 dollars you started the year with.

For a corporate person who is saving to by a car of 2.5m about 7,142 dollars at 350. By the time you save up the 2.5m to buy the same 7142 dollar car, you find out the same car now needs 3,392,000 to own. Then u start saving to get 3,392,000 to buy the car. Who knows, by the time you get this 3,392,000 the same car might need 5,500,000.

The car price is the same abroad, but you now need more naira to buy it.

Its really terrible.

mekaboy:
Alot of people hear that things are going wrong and its a result of bad governance and policies. They dont really understand how it affects them. Let me illustrate.

As an importer you started the year with a capital of 10,000 dollars(3.5m). You were trading and grew your money from 3.5m to 4.5m at the end of the year. Today dollar is sold for 475 and today the 4.5m is 9846 dollars.


So after all the sales and profit you made for a whole year, you money is less than the 10,000 dollars you started the year with.

For a corporate person who is saving to by a car of 2.5m about 7,142 dollars at 350. By the time you save up the 2.5m to buy the same 7142 dollar car, you find out the same car now needs 3,392,000 to own. Then u start saving to get 3,392,000 to buy the car. Who knows, by the time you get this 3,392,000 the same car might need 5,500,000.

The car price is the same abroad, but you now need more naira to buy it.

Its really terrible.

Most simple and straightforward explanation people who don't understand the consequence need.

It keeps getting worse