₦airaland Forum

Kukutenla:
There's nothing like percentage increase. Is 28 to 216 an increase in value or a decrease in value in terms of exchange rate valuation?

What you're discussing is currency depreciation. It's an accounting as well as economic term with mathematical definition. That you're unaware of that is based on your poor education.
Depreciation as the name implies comes with a negative sign. But rate of Depreciation is always a percentage at which you ignore the negative. Or have you ever heard of negative percentage?

Stop advertising your poor education and hiding behind insults. Insults don't make you look more intelligent.

So your rate of depreciation which is a percentage with the sign ignored gave a value where naira depreciated at less than 1% in 16 years. You are worse than an illiterate. You should seek for a refund from the village schools you attended.

airsaylongcome:
Lol! You completely lost your mind. The highest dollar ever got to under PDP was 216. The highest dollar got to under your jagaban was 1900. Do the math.
Don't forget that 216 was without any government intervention and with a massive SWF. Your current (government manipulated) 1100 is still a 362% hike on 216 that you all screamed about in 2015.

Now I know you are a lunatic. #216 without government intervention.

LegendHero:
You are just saying nonsense. This is not an accounting class or calculus class.

The argument wasn’t even with you before you center yourself in.

This is the argument:
PDP took it from N28 to 216
APC took it from 216 to 1200

The argument is about folds per political party tenure not about inserting formular into the discussion. Because trying to insert that will mean we will now try to check the time value of those billion $$ PDP got from crude sales during that time with it peaking over $100 during Jonathan period. Then now use that to extrapolate how much PDP had to cushion the effect of naira falling and what modalities they put in place to keep production growing to be able to support the Naira.

Then we will now bring when Buhari came and crude oil sales fell drastically to Covid-19 era, and then now use that to arrive at all factors to now consider which is better or not.

Now tell me how much PDP government earned for their 16 years from crude oil sales since that is the main source of revenue for the CBN and then compare it to Buhari tenure revenue and then use those time value of money to infer which one is better. At least you know our earning power determine how much we have at hand to defend the naira.

Can you see we can take this argument to next year if you’re trying to check all parameters. That’s why it’s good to stay on topic.

He's saying rubbish that he himself has no knowledge of.

bal4real:
Lolz.
GEJ and Buhari are now incompetent, as u claimed.
Swear with your life that you didn't support and vote for Buhari when he contesting against GEJ?

Buhari, your then master is now incompetent because people are now missing Buhari, under this shege banza your tribesman has plucked this nation into.

Would you be this patient, if it were PO that is in power with the situation of the country right now.

Honest answers without sentiment, pls!

Shey na you carry my thumb vote for Buhari? Buhari ko Buraimo ni.

Your god, Jonathan was an incompetent coward who made the equally incompetent buhari possible. So far Tinubu's policies are giving Nigeria a lifeline. But I don't expect you to understand.

Kukutenla:
Did you go to school at all? I removed the negative sign cause we are considering only the natural value and not the real value in depreciation. Depreciation is actually a percentage. Have you ever calculated mean error or percentage error or deviation? Don't you see negative value being ignored when you are comparing in terms of quantities? What school did you attend?

Go and sit down. You are worse than an illiterate. If you followed how the argument started you will see how poor your maths skills are. Someone said Pdp met currency at #28 and took it to #216. What's the percentage increase?

APC met it at #216 and took it to #1200. Calculate the percentage increase from 216 to 1200.
We found out that under the PDP the increase was higher than it has happened so far under the APC. That way there's no need to ignore or acknowledge any negative sign, you idiot.

bal4real:
Look at this ingrate. All your live, did you support GEJ when he was in power? Hell no, rather you guys connived with the North to dethrone him.

Now you what sane Nigeria to support the certificateless and drug baron just because he's from your tribe.

What's my business with the north? I can never support any incompetent leader. Jonathan was incompetent just like Buhari. We are still watching Tinubu. It's your business who to support or not. Nobody is begging you to support anyone.

tegrianonigltd:
Official rate and black market rate no difference now na. We allow politics to divide us instead to unite us. Because of party affiliation and tribe, we can’t tell some people say them dey do wrong. Pdp were not too sound, but apc came and its blackout for now. Forget politics. Criticism is good. Apc did against pdp.

At the end. Me and you, with them, everyone want a better Nigeria. Make we talk truth. If Nigeria be like them Singapore and China now, great system. Everything like 85-90 percent working. We will all be happy innit?

No, if Nigeria starts working today some people will be very embittered because of the same politics you talked about. You know them

Kukutenla:
And depreciation is positive abi

Which school did you attend?

And these values you got here are negative in your eyes, Olodo?

[quote author=Kukutenla post=129404321]If you apply that formula, you will find that both
PDP (0.88) and APC(0.83) are close in terms of depreciation

Abi you want to tell us 0.88 has the same value as - 0.88?

tegrianonigltd:
28? How old are you ? Were you born in 2000s?

That’s around 89 naira pdp met it. Then in 2000 around 105 or so, clam down, pdp might not be saint, but they did a lot to hold it together. The three president from pdp were lots more smart economically then the two apc. No beef, I no be party member. But they were lots more smarter, the take decisions after analysis, meetings. Not just take irrational decisions and actions like the apc presidents. How on earth did you remove subsidy on day of inauguration. Without proper consulting, looking at the insights, read the dashboard and report.

We all want a better Nigeria, just like Lee and Deng gave Singapore and China respectively. We want that. Blackman is just not ready. During slave trade, we traded ourselves to the whites, we still do, take an example of Niger country. They have the resources, France is giving them aid.

Also tinubu government is defending the dollar seriously to impress the masses. I pray and pray it last, because it is against our foreign reserves.

These people hyping us know what they are up to.

It was even #22 official rate. You are quoting black market rate of #98.

Kukutenla:
You are a dullard. Go and learn how to calculate rate of depreciation and stop disgracing yourself!

It's always over the original value, you monkey. Tell your 10 year old daughter to teach you. If you do it your way you will end up with a negative value.

GeneralDae:
I just don’t understand them. What has been given to BDC’s so far shouldn’t even be more than 60 million dollars yet, and as at when Cardoso announced he has paid the last backlog of 1.5 Billion dollars on March 18, the reserves began to plummet to probably account for it. So why they think the reserves was only used to stabilise naira, I don’t know.

It's exasperating trying to point things out to them. How will a sane human being believe that $1.2bn was given to bdcs in 18weeks?

Kukutenla:
When you were doing your Master in USA they did not teach you how to calculate progression abi?

If you are going to use the official exchange rate of 22 at 1999, then you need to be aware that the official exchange rate in 2015 was 199 and not 216. 216 was the parallel rate. Meanwhile official rate today is at 1200

To calculate the rate of depreciation in a currency over a period of time, you remove the current value from the initial value and divide by the current value to get your rate of depreciation. If you apply that formula, you will find that both PDP (0.88) and APC(0.83) are close in terms of depreciation. However, if you spread it over the number of years both have spent in power, PDP gets 0.055 per year while 0.092 per year. Thus it is easy to see that APC has devalued the naira at twice the rate of PDP per year. So which is worse now?

I hope you can understand the calculations instead of brandishing one empty Masters degree. And i wonder when Masters became something to brag with. You know how many dullards even hold a PhD. Did you lots not call Jonathan clueless while he possessed a PhD?

You have to divide by the initial value not present value. That's why when you are doing loss% and profit% in primary school, cost price is always at the bottom because cost price is the first or initial value and not selling price.

Dbegining:
Mr. Man, the naira is sill defended. The only difference now is that the CBN is selling directly to BDC's at a subsidized rate. That's why the black market rate is same with the official rate. And that's also why out foreign reserves has been depleting the past few days.

You don't know anything about foreign reserve. Your foreign reserve can be growing while you are heavily subsidizing your currency or dropping while you do the opposite. Our foreign reserve is used for other things apart from selling to bdcs. Or how do you want the bdcs to get dollars if not From government?

airsaylongcome:
PDP (1999 to 215)
(216-28) / 28 = 6.71

APC (2015 to 2024)
(1900-216) / 216 = 7.79

Weyrey, so your own dollar is #1900? I was wondering how he got his figures.

DMerciful:
Youthful exhuberance. Read and learn

Go and sit down. You don't know anything, olodo.

airsaylongcome:
Under PDP, the devaluation was 671% in 16 years. Under APC, it's 779% in 8 years. What were you saying about percentages again?

You are lying. Show your workings.

DaTruths:
Naira be like Bitcoin e dey fall and rise.

Na time to buy more dollars and hoard be this sef

You want people to lose money. There are many signs to show the naira will gain more by the end of the 2nd quarter.

Kukutenla:
Percentage of what? You APC bots are actually a bunch of dullards

No wonder you asslick failures in govt

You have to apply percentage increase. Your primary 5 daughter or son can teach you that.

Frigga13:
Are you gay?

Are you married ?

Pray that your sons don’t turnout to be gays ..

Then you understand Why people frown at it ..

It’s much easy to type this poo..

If his son is gay, how does it affect you?
It's his problem.

. Most rape and sexual abuses are carried out by people who are not gay. You frown on it
but you don't frown on your governors destroying people's future through their stealing. We focus too much on frivolous things in Africa. How many politicians have been jailed for stealing?

DMerciful:
I know you're still young so i forgive your ignorance of how things work

Your ignorance was busted as usual. You are old and stupid.

DMerciful:
The first news is the correct one before threat and brown envelopes

Threats? Most of you people are just silly.

sunboy:
While I agree with many things that you wrote, I disagree that you picked Iran as a case study. Next time stick to Argentina, Venezuela, Lebanon and Zimbabwe. Those countries are not under any sanctions but Iran is doing very good at managing things in the face of harsh sanctions for decades.


Iran and Cuba will be prosperous if the sanctions on them are not there. Iran can’t even sell its produce open like Nigeria or Venezuela could.

Another angle. Thanks.

DMerciful:
You know its been defended but continue, lets see how far they can go

He said you should explain with proof. ABI we should just take your word for it?

marsman:
The fool does not know we have been defending dollars since the time of Abacha. He thinks it was because of good governance that turned Nigeria into a dumping ground.

They don't know anything. They were buying imported rice at #7000 per bag not knowing they were eating their future and those of their children. Now if true capacity is built into our industries and agriculture, why not? Naira will rise and prices of agricultural products will come down on the back of a very strong naira. It would be like the 70s and 80s again when we had real production. Not the fake naira strength we had under Abacha, Obj, Jonathan and buhari.

Ofunaofu:
I am not hoping that things get worst, I want things to get better but Tinubu isn't making things get better. He doesn't have the capacity to make things better

How? In the past government supported the naira with as much as $20bn In a single financial year only for bankers to take dollars to the black market and make huge profits. Now even the black market rate is lower than official rate. Removing subsidies will actually help Nigeria's economy and future better than leaving the huge subsidy regimes in place.

In Argentina today they're crying as inflation is 270% and they devalue their currency almost every month. Prices of basic goods increase by the hour. The same mistake Nigeria made for years was what they made too: crazy subsidies and not floating their currency. You should thank God for Tinubu.

If Argentina is too far you might want to check out Iran and Lebanon. Iran has the world's second largest oil reserves. They subsidized madly like Nigeria from fuels to cooking oil and sugar. Today those same subsidies have messed up their economy and led to shortages. Today in Iran fuel is being rationed. There's a limit to how much fuel you can buy in a week. You are given a ration card. Is that what you want for Nigeria

Or you want to try Lebanon where their currency has fallen to 89,000 Lebanese pound to a dollar due to unbridled subsidies like Nigeria before Tinubu?

I can go on and on but time will not permit me. Just know this: no one destroyed Nigeria in recent times as badly as Jonathan and Buhari. Jonathan was even a bit better because Okonjo advised him to stop the subsidies and he wanted to but he allowed the likes of Tinubu to bully him. Bihari was a total disaster.

LegendHero:
Don’t mind that one.

Most early philosophers don’t even pass through normal school and yet through observation and brainpower, they could predict stuffs accurately.

Abi. These ones are so blissful in their alarming ignorance.

Lizzysamuel:
My bad for engaging people with Autism with high IQ.
Clowns

Go and sit down, olodo.

Ofunaofu:
Are you now implying that the naira is not being defended at the moment? So why did Nigeria’s foreign exchange (FX) reserve drop by $1.02 billion within 18 days?

Reserves are used to back international trade and also for the settlement of certain liabilities. Not only to defend local currencies. Abi, how can you defend naira with $1.2bn in 18 days? How much was given our to bdcs and banks? Let's be reasonable when we criticize. Probably you voted for a candidate who lost, move on and stop hoping that things get worse.

LegendHero:
It’s intelligence quotient.

You could be German or Italian and still have a good IQ. So IQ is designed to be naturally independent of a particular language.

It’s basically testing your cognitive skills, logical decision, mathematical reasoning, and spatial awareness.

While you can argue that you need language to interpret your ideas, you don’t need to speak queens English to have a higher IQ.

You see why I said our conversation keeps reducing my IQ?

You don't even need formal education to possess high IQ. They don't know anything.

blamingthedevil:
Why are you crying over goodnews for your country?

That's what I don't understand about these specimens. Each day they hope things will get worse so that they can gloat and accuse those who voted contrary to their own opinion of being wrong.

Lizzysamuel:
Imagine a supporter of "Na statistics we go chop" trying to score point with statistics. The joke is on you Agbadorian

You goofed. You should have used percentage. PDP is worse in the handling of the naira. From #28 to #220 is worse than from #220 to #1200.

When will the iboman get over this election loss? Almost one year to the anniversary.