[s]

thebosstrevor1:


Even in lagos, you can get a full loaf of bread for 300 naira

[/s]

ecomalchemist:


Maybe in your village but definitely not in Lagos.

Also don't think you know the meaning of 'balanced dirt'.

300 naira can get you a nice bread and butter.
300 naira can get you nice rice and bean from iya basira and asinatu in the ghetto.
You can buy indomie and egg with 300 naira.
You can buy atleast 6 biscuits with 300 naira

[s]

thebosstrevor1:


300 naira can get you a nice bread and butter.
300 naira can get you nice rice and bean from iya basira and asinatu in the ghetto.
You can buy indomie and egg with 300 naira.
You can buy atleast 6 biscuits with 300 naira

[/s]

babyfaceafrica:
balanced diet? No!!.. Lagos is not the only state in Nigeria

Absolutely, different strokes for different folks.

thebosstrevor1:


300 naira can get you a nice bread and butter.
300 naira can get you nice rice and bean from iya basira and asinatu in the ghetto.
You can buy indomie and egg with 300 naira.
You can buy atleast 6 biscuits with 300 naira

lol, bread and butter is not balanced diet Oga Ade.

The after effects of eating iya basifbdmfjfhdbf and assasination in the ghetto might cost you a fortune if you don't have the required funds to access healthcare here in Nigeria.

thebosstrevor1:


Even in lagos, you can get a full loaf of bread for 300 naira

Its 450 - 500 where i reside and it don't even last more than 12 hours.

ecomalchemist:


Its 450 - 500 where i reside and it don't even last more than 12 hours.

You can continue to give excuses upon excuses, a loaf of bread is 300 naira

ecomalchemist:


lol, bread and butter is not balanced diet Oga Ade.

The after effects of eating iya basifbdmfjfhdbf and assasination in the ghetto might cost you a fortune if you don't have the required funds to access healthcare here in Nigeria.

People live in the ghetto and many of them are minimum wagers, so what do they eat.?

You know people survive on 300 naira in lagos but you are here projecting false narratives

Misterone:
well, the guy above yo said the truth. it is not about the value of the currency but the cost of living. maybe you should ask people over there how they spend that $2,000. If they even have anything left after expenses. now, most of you talk about minimum wage as if it is what you are paid. FYI, over 70% of those that do something for a living in Nigeria earn far above #50,000 per month. Even those that collect the 30K/month have side hustle. You see a gate man in the Ministry owning house and driving big cars. Nigeria has its own perculiar way of Sharing wealth.

I remembered in 2015, a carton of 3crown milk of 48pieces was sold for 4,100naira. My salary was around 85k monthly. 6 years later a slate of 3crown of 24pieces is sold at 4,300naira this is about 105% increase. And my salary Your guess is as good as mine. Raw material cost still remains the same. Only that the naira is too weak to compete. If you compare an average american standard of living to that of Nigerian, it is equivalent with what is obtainable at places like Ikeja and Island. So lets not compare. And if I am not mistaking, we have more naturally resources than most of these countries. We have less natural desasters than all these countries. Lets not even talk about cost of living cos over here in Nigeria, we are not living, we are surviving

ecomalchemist:


lol, bread and butter is not balanced diet Oga Ade.

The after effects of eating iya basifbdmfjfhdbf and assasination in the ghetto might cost you a fortune if you don't have the required funds to access healthcare here in Nigeria.

how is eating iya basirat not healthy? So chicken Republic and Mr biggs is healthy abi? The amount you buy a food with doesn't guarantee how healthy it is please

Chachamiliano:



I remembered in 2015, a carton of 3crown milk of 48pieces was sold for 4,100naira. My salary was around 85k monthly. 6 years later a slate of 3crown of 24pieces is sold at 4,300naira this is about 105% increase. And my salary Your guess is as good as mine. Raw material cost still remains the same. Only that the naira is too weak to compete. If you compare an average american standard of living to that of Nigerian, it is equivalent with what is obtainable at places like Ikeja and Island. So lets not compare. And if I am not mistaking, we have more naturally resources than most of these countries. We have less natural desasters than all these countries. Lets not even talk about cost of living cos over here in Nigeria, we are not living, we are surviving

Opinion is like an asshole. Everybody has one. To me, I would rather stay in Nigeria earning 250-300k a month than become a Slave abroad for $2,000 a month.

travelwaka:
The moment you realize that an IPhone 12 is 1500 dollars where as it's 500,000 in Naira. You realize this analysis is just wrong. Your analysis only make sense to a Foreigner coming to Nigeria. But imagine a Business owner or manufacturer who used to buy a $100 resources at 15,000 when dollar was 150 naira then all of a sudden the same resources after 5 years is still $100 but it will now cost him and 46,000 naira which is triple the original price.

Whenever your currency is going bad it only favours foreigners coming into your country it doesn't favour the citizens.

From your analysis. A foreigner who can only buy 1 bottle water with 1 dollar comes in and all of a sudden he can buy 6, but you who is supposed to buy 6 goes into the international terrain, you can only buy 1.


Lastly if you are talking about purchasing power , you are supposed to pair it 1 naira to 1
dollar and not 1 dollars 480 naira .

Think about this your analysis again.

This your response analysis should close the debate. I used CFA in 2008 and #1,000 gave me about 3,400 CFA. You need to see the attention given to us each time we engage in shoppings and even within our neighborhood. We always say keep the change especially when coins are added as change, funny enough you will see 500cfa as coin

Such a simple topic got blown out of proportion...nawa o!

The exchange rate doesn't reflect a country's economy or cost of living, it simply compares the power of currencies in an international sense.

Comparing them directly is wrong. You can't say 10$=4800N and because what you get in Nigeria with 4800N is much more than what you can get in the USA with 10$, the Naira is better.

Honestly, that just dumb...

While the 4800 is okay enough to manage in Nigeria, if you were to leave the shores of the country to another land like USA, you have to exchange the naira with their local currency to be able to buy anything there and with an exchange rate of 1$=480N, your 4800N is converted to 10$ which is nearly useless in USA.

On the other hand, if you were to come from USA to Nigeria, 10$ that can't buy you anything in USA, can feed you well for nearly a week in Nigeria..

This is basic economics really.

For an equal amount of labour done and time consumed, an American man earns 3000$ and a Nigerian man earns 70,000N.

In their respective countries, that money will be able to provide them the same average standard of living. But if they decide to travel to each other countries, when they exchange their currencies,

The 70,000N becomes roughly 146$, while the
American man's 3000$ becomes 1.4 million naira.

See where the critical issue of poor exchange rate lies?

The American man who lived averagely in USA becomes a rich man in Nigeria with his 3000$(1.4 million naira),

While the Nigeria man who lived averagely in Nigeria, becomes relatively poorer in USA with his 146$(70,000 naira)...

Misterone:
Opinion is like an asshole. Everybody has one. To me, I would rather stay in Nigeria earning 250-300k a month than become a Slave abroad for $2,000 a month.

Is the first comment actually necessary

Chachamiliano:


Is the first comment actually necessary

yes. it is an adage. everyone has an asshole. likewise everyone has an opinion. so we should respect each others opinion because it is our right.

Misterone:
yes. it is an adage. everyone has an asshole. likewise everyone has an opinion. so we should respect each others opinion because it is our right.

Ok sir

thebosstrevor1:


Thank you for asking.

People just carry figures all over the place.

Comparing minimum wage of america and Nigeria. When they have different labour cost and stand of living.

Comparing 2000 usd vs 63 usd and then use it as a form of argument

The United states have a high labour cost and high standards of living, so expect more pay.

Poverty level is from 10k usd per year to 30k in the United states.

Poverty level is around 200k naira to 500k per year in Nigeria.

Different country, different systems, different standards of living.

that's not even what I'm saying

Nigerian produces 63 yams and wants to compare with American than produces 2000 yams

igbosoupkitchen:


While.we are comparing the numbers of the curency can we also please compare the purchasing power??
We are quick to compare naira to dollar,cedis to naira, cefa,euros, gbp etc and we only do so in terms on figures.

Let me ask you,
I dollar is = 480naira (what is the purchasing power of both?
1 dollar can buy you a cup of coffee in the USA but 480 naira can buy you tea( coffee, lipton,milo and milk) +sandwich
1 dollar can buy you 1 or 2 bottles of water in usa but 480 naira can buy 6 or 8 bottles of water in Nigeria.
500 cefa can only buy you 1 bottle water which is 250 cefa and 1 bottle of malt drink 250 cefa,
500 naira in Nigeria can buy you water, malt,gala,biscuit,bread and akara/eggroll
100cedis in ghana cannot buy you what 9000 can buy in Nigeria, FACT

If not for our lack of productivity as a country we will not be an import dependent country aĺways seeking validation of foreign currency.

This assertion is wrong. Remember, all countries do not earn an equivalent amount in either currencies. Before you make this analysis, you should consider the local equivalent based on the earnings to see if it's cheaper or more expensive.

babyfaceafrica:
the charger I bought since September is 800 naira and my phone never spoil.. Don't underrate cheap goods

You don't get it.
It is dependent on phone.

Can you get a nice time piece with that?

I wear ABA bro.

That Trevor BMC guy, that Poco lady and some other morons trying so hard to defend the naira are obviously ill educated pikes.

SMH for their generations,coz they are obvious chronically stupid!

pocohantas:
Whoever supplies Nigerians the weed they smoke before they say CFA and Cedis are stronger than the Naira, should be arrested and tried for treason.

You think strength of currencies is all about exchange rate? Everyday they keep educating you people and una coconut head no gree.

One day, una go compare Somalia to Nigeria. That is why useless travel agents tell you guys you will earn 150k in “Dubai”, you jump and enter plane. Toor

Aunty rest!! Speaking gibberish, yet you've not made any point. Someone stated here that 1,000 naira got them 3500 Cefas in 2011. The same 1k naira can only get them a little above 1000 Cefas today. You are here forming economist whilst knowing nothing

zamanii:


Aunty rest!! Speaking gibberish, yet you've not made any point. Someone stated here that 1,000 naira got them 3500 Cefas in 2011. The same 1k naira can only get them a little above 1000 Cefas today. You are here forming economist whilst knowing nothing

Oya carry your bag and go there na. Some of you will just stay in somewhere and be shit-talking Nigeria. Carry your bag and enter other African countries, your body go tell you. Since na exchange rate you wan chop. Olodo them

pocohantas:


Oya carry your bag and go there na. Some of you will just stay in somewhere and be shit-talking Nigeria. Carry your bag and enter other African countries, your body go tell you. Since na exchange rate you wan chop. Olodo them

Unfortunately pocohantas I cannot help you. Of your interpretation of this whole thread is that we are criti criticizing Nigeria, I weep for you.

It is common sense that when you criticize the things government do wrong in a sane society, it only spurs them to right the wrongs. Apparently common sense eludes you and I'm not sure I can help you.

zamanii:


[s]Unfortunately pocohantas I cannot help you. Of your interpretation of this whole thread is that we are criti criticizing Nigeria, I weep for you. It is common sense that when you criticize the things government do wrong in a sane society, it only spurs them to right the wrongs. Apparently common sense eludes you and I'm not sure I can help you.[/s]

Unnecessary shalaye.

zamanii:


[s]Like your kind, you have no objective response to what I said, so you must resort to mud fight. Run along now pocohantas[/s]

Expecting an objective response to a nonobjective diatribe is the height of stupidity and delusion.

pocohantas:


Unnecessary shalaye.

Like your kind, you have no objective response to what I said, so you must resort to mud fight. Run along now pocohantas

Abeg shey anyone has an idea of d current rate.......asin from cefas to naira......thanks