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Nairaland Forum / Nairaland / General / Politics / Naira V Dollar: How True Is This Statement (6185 Views)
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Naira V Dollar: How True Is This Statement by Saifulah: 6:57pm On Dec 05, 2020 |
Your thoughts! Modified; I have seen some arguments that are off point at a tangent. The idea is comparing the naira to the dollar in terms of their purchasing power after adjustments for inflation and cost of living (in our case also for tariffs, imported inflation etc) So for instance we could compare cost of 0.75cl of water in the US and Nigeria. or other products that are locally produced in each country 2 Likes
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Re: Naira V Dollar: How True Is This Statement by Saifulah: 6:58pm On Dec 05, 2020 |
Response from diaspora preferred |
Re: Naira V Dollar: How True Is This Statement by princemillla(m): 7:00pm On Dec 05, 2020 |
E be like say dem just renew ur salary abi 26 Likes 2 Shares |
Re: Naira V Dollar: How True Is This Statement by bolaayenimo: 7:02pm On Dec 05, 2020 |
Wehrey 5 Likes 1 Share |
Re: Naira V Dollar: How True Is This Statement by inoki247: 7:05pm On Dec 05, 2020 |
Goan use 500 buy Sardines nd onions with Tomato paste... since u guys like comparing shiit.. How much is full chicken at Walmart nd how much is full chicken in our local market... 22 Likes 1 Share |
Re: Naira V Dollar: How True Is This Statement by helinues: 7:14pm On Dec 05, 2020 |
That's a lie... With $1, you can buy things in Usa like bottle soft drinks e.t.c 5 Likes |
Re: Naira V Dollar: How True Is This Statement by Donspicey: 7:19pm On Dec 05, 2020 |
I dey come make i go confirm weda na tru frm USA........... 5 Likes
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Re: Naira V Dollar: How True Is This Statement by BeLookingIDIOT(m): 7:21pm On Dec 05, 2020 |
inoki247:Go and use $1 to buy those things na 10 Likes 1 Share |
Re: Naira V Dollar: How True Is This Statement by BeLookingIDIOT(m): 7:22pm On Dec 05, 2020 |
helinues:No one said there is nothing $1 can buy 1 Like |
Re: Naira V Dollar: How True Is This Statement by helinues: 7:23pm On Dec 05, 2020 |
BeLookingIDIOT: So what can you buy satisfactory with N500 in Nigeria? |
Re: Naira V Dollar: How True Is This Statement by Praxis758: 7:27pm On Dec 05, 2020 |
Yes, very correct. With $1 here in the US, you can only buy 1 0.75l of bottled water or some canned drinks, remember tax of some cents will be added. Though the effect of serial naira devaluation has crippled the purchasing power of Naira, but with N500, you can buy many things in Nigeria like soap, creams, toothpaste, excercise books and some others. If anyone doubt my comment, let him prove me wrong and I'll personally go to Food Lion, Family Dollar store are take shots of their prices to see if one dollar products are common. Though there's a store called 1 dollar store, 70% of their products are $1 but you'll still be taxed. 12 Likes |
Re: Naira V Dollar: How True Is This Statement by Aconomist: 7:29pm On Dec 05, 2020 |
As someone in the U.S, he is right. There is nothing in America you can buy fo $1 -- especially in big cities like New York or Las Angeles. 10 Likes 1 Share |
Re: Naira V Dollar: How True Is This Statement by Saifulah: 7:30pm On Dec 05, 2020 |
Goodness me, Nigerians we need to chill, its just a question and some are insulting, being aggressive and all that. Well I blame the bad leadership for getting us this worked up and frustrated. But then aren't these leaders chosen from among us 5 Likes |
Re: Naira V Dollar: How True Is This Statement by jmoore(m): 7:30pm On Dec 05, 2020 |
A wise person compares $1 to 1 Naira. A wise person compares $500 to 500 Naira. But many are not wise Modified: The op modified his post to talk about PPP. The dell laptop you imported from USA, will it be cheaper in Nigeria? What about the iPhone? What about an electric car? Take a look around you and see products imported. It's ridiculous to always talk about FOOD when referring to PPP. More notes outsourced below.
38 Likes 4 Shares |
Re: Naira V Dollar: How True Is This Statement by Saifulah: 7:35pm On Dec 05, 2020 |
jmoore:No! big guy it's called PPP - Purchasing Power Parity (measurement of prices in different countries that uses the prices of specific goods ) 12 Likes |
Re: Naira V Dollar: How True Is This Statement by edoairways: 7:37pm On Dec 05, 2020 |
Praxis758:Toothpaste alone is N250. Exercise book is N100 for 40 leaves The least cream you can see is N350 depending on your location. A plate of food is N350 depending on the restaurant ( beef is N100). Titus saddine is now N300 depending on your location 4 Likes |
Re: Naira V Dollar: How True Is This Statement by adeyemik: 7:41pm On Dec 05, 2020 |
With N500 you can load you stomach and have some change: Bread: N100 Beans: N100 Meat/fish: N100 Coke Cola': N100 ××××××××××××××× Total: N400. N400 Eva Water: : N100. 2 Pure Water: N20 ***** ****** Change. 0 N80 ****** ****** 15 Likes 1 Share |
Re: Naira V Dollar: How True Is This Statement by Kwamecron(m): 7:44pm On Dec 05, 2020 |
#agege bread #pepsi/cocacola U go still collect change self #300 6 Likes 1 Share |
Re: Naira V Dollar: How True Is This Statement by MadamExcellency: 8:01pm On Dec 05, 2020 |
Meaning a non entity in USA can come to Nigeria with few dollars and buy LAGOS State. This mumu didn't understand what he's saying. 12 Likes 1 Share |
Re: Naira V Dollar: How True Is This Statement by Praxis758: 8:04pm On Dec 05, 2020 |
I'm not contending your facts. My point is purchasing power of $1 is weak here in the US compare to what N500 can afford in Nigeria None of those items you mentioned can be afforded with $1 here in the US. edoairways: 8 Likes 1 Share |
Re: Naira V Dollar: How True Is This Statement by Raylight2(m): 8:21pm On Dec 05, 2020 |
buy 3 bole #100 2 chilled sachet water #20 collect. #380� (my today experience) 7 Likes |
Re: Naira V Dollar: How True Is This Statement by Raylight2(m): 8:24pm On Dec 05, 2020 |
Praxis758:serious about that? well I was told people coming to spray dollars on arrival do work their body , soul and spirit out to make those monies |
Re: Naira V Dollar: How True Is This Statement by phantom24: 8:24pm On Dec 05, 2020 |
U don't compare the value of money in a developed country to it's exchanged vale in a poverty-striken economy like nigeria. Dollar is of lesser value in Other african countries. 1 Like |
Re: Naira V Dollar: How True Is This Statement by Sirfrederick(m): 8:26pm On Dec 05, 2020 |
You can easily make $1 in the US than N500 in Nigeria. 17 Likes |
Re: Naira V Dollar: How True Is This Statement by freeborn02: 8:26pm On Dec 05, 2020 |
BeLookingIDIOT: Good. Then let naira continue to fall since it is not bad enough. I hope you are not a salary earner or an ordinary business person that earns in naira. If you are, you will be the one to suffer the brunt. 1 Like |
Re: Naira V Dollar: How True Is This Statement by Raylight2(m): 8:27pm On Dec 05, 2020 |
Sirfrederick:did you type this from experience or you are thinking-typing 3 Likes |
Re: Naira V Dollar: How True Is This Statement by Raylight2(m): 8:27pm On Dec 05, 2020 |
Sirfrederick:did you type this from experience or you are just thinking-typing 1 Like |
Re: Naira V Dollar: How True Is This Statement by SEGLIZ: 8:30pm On Dec 05, 2020 |
Praxis758: bro you've done well no point arguing with those us that are home base, we are just too stubborn when it comes to comparing Nigeria and other countries. two factors - 1) we feel depressed and worthless (inferiority complex) 2) we hate it hearing anything good about our country (all we want 1st thing waking up about our country is something negative, hearing negative things about Nigeria now give a lot joy). all that man want to hear is 'dollar is valuable than Naira' telling him Naira has a better purchasing power is a waste of time. 13 Likes |
Re: Naira V Dollar: How True Is This Statement by Sirfrederick(m): 8:34pm On Dec 05, 2020 |
Raylight2: Ordinary keep the change in the US is like 2 dollars upwards. Keep the change in Nigeria is like 200 upwards. |
Re: Naira V Dollar: How True Is This Statement by Raylight2(m): 8:37pm On Dec 05, 2020 |
Sirfrederick:well you may be right |
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