NewStats: 3,261,632 , 8,174,567 topics. Date: Thursday, 29 May 2025 at 08:41 PM 6e4vo

illicit:
500 naira food for buka no belleful again o lol

Na 2 jollof spoon be that....

Don't compare $1 to N500 but rather compare $1 to N1 and tell me the result. Idiot man

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://nairaland.unblockandhide.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

Your analogy (or that of the other guy you referenced) sounds like bs to me. Let's reason it; if what you bought for 500 naira hypothetically costs 8 pounds (which is around 4800 naira or so. By value, you'll feel it costs more in pound, right? But let's check: the minimum wage in the UK is around 8.71 pound per hour. Is the minimum wage in Nigeria up to 500 naira per hour? Are you getting my drift?

ijustdey:



https://punchng.com/forex-average-nigerian-can-feed-with-n500-naira-still-strong-cibn-ex-president/

u know see him useless face of saying average man can still feed with #500,I know blame the idiot fool, because say him dey eat better that why him know no wetin the poor masses they through... very stupid and idiot human being like am..

Unfolding:
Intellectually bankrupt banker !!
Our intellectuals are soo disconnected from reality. If naira is strong because people can eat with 500 naira. What of the 27.4 million Nigerians that earn less than 100,000 per annum? It means this category of people can only spend there money on food and will only eat once every two days....You see, even the local value of naira is very week. If the president of Charters Institute of Bankers can talk like this, then we get big problem.

If you earn 100,000 naira per annum it will still not be enough to feed you N500 per day, even if that food is the only thing you spend on.

When I saw NTA I just realized that they have invited one of their mumu to come and speak foolishness. The foolishness of a professor. The kind of professors we have in this country tells you that school does not give you wisdom. When you lack it then you are foolish.

mcbreeze:
Some people go school to get confused on the already confused brain.

Certificate doesn't cure foolishness

And u think u know more that a Professor?I guess you don't understand his point. He is talking Economics which is comparing what 500naira(1dollar) can buy in Nigeria and what 1dollar(500naira) can buy in USA. He is not saying that Nigeria is better than USA or that naira is stronger that dollar

mcbreeze:
Some people go school to get confused on the already confused brain.

Certificate doesn't cure foolishness

someone should remind that stupid man that most Nigerians including graduates do not earn up to #500 per day. Technically, what his statement means is that an average Nigerian cannot afford one meal per day. Nonsense.

descarado:
That's what they told him to say or they will disgrace him out of office.

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://nairaland.unblockandhide.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

He is talking trash.
Alot of people earn less than 500 by day
So how do u expect dem to feed.
There nobody in the US dat earn less than a dollar per day

Lol...only Economists would understand what the Professor said

HedwigesMaduro:


Your analogy (or that of the other guy you referenced) sounds like bs to me. Let's reason it; if what you bought for 500 naira hypothetically costs 8 pounds (which is around 4800 naira or so. By value, you'll feel it costs more in pound, right? But let's check: the minimum wage in the UK is around 8.71 pound per hour. Is the minimum wage in Nigeria up to 500 naira per hour? Are you getting my drift?

ijustdey:



https://punchng.com/forex-average-nigerian-can-feed-with-n500-naira-still-strong-cibn-ex-president/

See his ugly face,ugly pple always say rubbish,Tinubu,lie Mohammed, Obasanjo, Oshiomhole ...ugly demonic creatures.

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://nairaland.unblockandhide.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

Did you also add the cost of gas he will use to cook the food.
Do you realise that portion of food can only serve some some adults for two meals in a day.
Now comparing with the USA, do you know $1.50 is chewing gum money in the USA. Even homeless people make more than that in the USA.

When you make comparisons with purchasing power, you should also consider earning power because money doesn't fall from sky. An average American will make $1.50 in less than 10 minutes meanwhile it takes Nigerians 24 hours or more to earn that same amount. So don't bring bullshit comparisons here

He said average, we know what it means to say average. Some will earn above while some will earn below,the point is can 1doll buy same things in USA as it would buy in nigeria?

ANDREW91:

He is talking trash.
Alot of people earn less than 500 by day
So how do u expect dem to feed.
There nobody in the US dat earn less than a dollar per day

Immediately I saw the man's picture I just knew he's a clown,waiting for damn niggar to comment on this

People working for me buy lunch at less than N500. I personally make my own breakfast for about N350.
Nigerians should stop emoting and start using intellect. When you emote you will tell lies because you are not strong enough to face facts and tell the truth.

Meanwhile it is a global problem. Please let Google be your friend. Currencies are depreciating and inflation is high everywhere

ANDREW91:

He is talking trash.
Alot of people earn less than 500 by day
So how do u expect dem to feed.
There nobody in the US dat earn less than a dollar per day

Reverse that logic..and think.
You cannot exist 1 day in the US with N500.00. You can in Nigeria

What a spit of shame from a prof !who dey give all this idiot prof I no blame am na only fool can spit this nonsense this period

FreeStuffsNG:
Seems most people commenting did not read to understand that he is giving the true reality on ground and giving an intellectual angle for this unusual scenario. For example, few days ago, a Nairalander bought eggs, plantain, carrots, vegetables etc yet he spent barely N1000 or less than N1000,
https://nairaland.unblockandhide.com/6755350/see-foodstuffs-bought-950-naira
that same quantity of food in US cost way more than $1.50 so it means locally the purchasing power of the naira is still strong .

The man just raised an intellectual poser and it is the reality that require more research.

My guess is that the intervention by CBN in agriculture really helped and the pressure on the naira could be because of speculators, cryptocurrency and rationing of forex by CBN.

I appreciate Punch for dropping their bigotry and hatred against PMB and for being honest enough to report such a fresh perspective on the forex and naira value issue.

infact after reading the several comments of people on this topic it was difficult to find any reasonable person who read and understood the analysis of that man untill i came across your comment. Naiaraland has too many myopic , lazy to read & understand population. Its a pity.

That's a big lie the man just spewed

#500 in what city? abi he is talking about lome in togo

1 derica of rice as of yesterday is #450 then what will #50 do when kerosene, not gas is #120 not to talk of the other items to be used.

The man is on high claro

RiceProducers:
People working for me buy lunch at less than N500. I personally make my own breakfast for about N350.
Nigerians should stop emoting and start using intellect. When you emote you will tell lies because you are not strong enough to face facts and tell the truth.

Meanwhile it is a global problem. Please let Google be your friend. Currencies are depreciating and inflation is high everywhere

infact you are making sense to me. Spaeking from experience. After reading the prof analysis, i saw the reality & where we are getting it all wrong . A lot of these nairalanders dont read and even understand most of the analysis put up by the professor

is it when 1k cannot feed primary one student that you're going to realise that your so called naira is weak locally and internationally.

Ade3131:


He's speaking from a platform provided by NTA for crying out loud....what would any sane minded Nigerian have expected?

He could have replied with some complicated mumbo jumbo, a parody of their efforts rather than display a poor understanding of the struggles of the average Nigerian.

.

RiceProducers:
People working for me buy lunch at less than N500. I personally make my own breakfast for about N350.
Nigerians should stop emoting and start using intellect. When you emote you will tell lies because you are not strong enough to face facts and tell the truth.

Meanwhile it is a global problem. Please let Google be your friend. Currencies are depreciating and inflation is high everywhere

To your contribution, I'll simply state this is relative. Your workers could manage at that price, is not to say a lot of Nigerians van get meals at the same price

To those blessed with agricultural products - hinterland or large agricultural cities... 500 naira may be adequate.

Certainly not in the larger cosmopolitan cities
Not with the rise in inflation and other ancillary costs... Alongside poor fiscal policies

.

ijustdey:



https://punchng.com/forex-average-nigerian-can-feed-with-n500-naira-still-strong-cibn-ex-president/

Textbook professor..

Kelvinhunta:
He said average, we know what it means to say average. Some will earn above while some will earn below,the point is can 1doll buy same things in USA as it would buy in nigeria?

It is easier to get a dollar in us dan in Nigeria

bukatyne:


Is it a disconnect though?

Does he feed his family with N500 per person per day/meal?

He is talking of CBN rates:

When he travels to the US or shops on foreign sites, during conversion, do they use CBN rates? Or Aboki FX rates?

Is he claiming that speculated rates are respected outside the country than CBN rates?

Same CBN rates that are artificially low so that those in power/have influence can buy at a reduced rate.

This crab mentality will take us nowhere!

Crab mentality indeed
The elite dont care about the masses as long as they are okay

ijustdey:



https://punchng.com/forex-average-nigerian-can-feed-with-n500-naira-still-strong-cibn-ex-president/

Shitty talk

Bomb deh baba head...Na to explode remain...

How Nigerians are surviving without going to war amazes me...

This people have robbed and done us dirty...

If you know how much this people are worth

RiceProducers:
People working for me buy lunch at less than N500. I personally make my own breakfast for about N350.
Nigerians should stop emoting and start using intellect. When you emote you will tell lies because you are not strong enough to face facts and tell the truth.

Meanwhile it is a global problem. Please let Google be your friend. Currencies are depreciating and inflation is high everywhere

Stop talking rubbish.. Your 350 food is not healthy... You should be ashamed to claim u eat 350 food when you pay people salary. How much ur so called worker go dey eat. Coke and gala...

Even ur 350 food..
350 x 3 Square meal is 1050
1050 x 30 days = 31500

Minimum wage 30,000

Those ur workers based on ur poverty level. There salary no 12k or 15k..
Chaii pity

Decentdave:
The guy is saying the truth from an intelligent angle
Most commenter here won't understand because they are OND holder

What the professor is saying is not true and it reeks of intellectual dishonesty
These are three facts that that the supposed "prof" omitted

1) for the vast majority of Nigerians, their incomes have either shrunk or remained flat since 2015

2)the exchange rate has slid by over 50% since 2015, which is not even the main issue but it is just as bad

3) Inflation rates have been running amok over the last 4 years.
How do you explain the price of bag of rice tripling in 5 years
The price of spaghetti doubling
Price of Yams doubling
Fuel price almost doubling
And incomes remain flat or even shrinking (we have a high unemployment rate )

Inflation (let's forget about devaluation sef) is killing the naira big time it is the major culprit
Normally inflation and depreciation of currency should not have a very strong correlation
But because of Nigeria unique circumstance
It kind of does

Let's look at Russia for example
Russia has been under sanctions because of their misadventure in Crimea
This led to the value of the RUB to tank against the USD
However prices did not run amok the same way it did in Nigeria
Things are still far cheaper in russia than in most countries in Eurppe DESPITE the slide in the value of the RUB

Japan has had similar experience with their Yen
And thailand with their Baht.
Why is Nigeria case different?
E go soon red for this country, nd by then even those defending the status quo because of parochial reasons go know say khaki no be leather

You are right bro! But he is not talking from that Angle, he means what a Dollar at hand can buy in Nigeria that same dollar at hand can't buy it in USA

ANDREW91:

It is easier to get a dollar in us dan in Nigeria