NewStats: 3,264,061 , 8,182,468 topics. Date: Monday, 09 June 2025 at 01:42 PM 512i47

Leezah:
Pls thank the author of this piece for me. I like it raw as it is�

THE VALUE OF THE NAIRA: A REVELATION THE VALUES OF NIGERIANS!

A currency's value is what is can fetch those who use it as a means of exchange!

Those in America use dollars and those in the UK use pounds sterling. Emiratis use Dirhams and Indians Rupees. Nigerians therefore use the Naira.

The Naira today, is equivalent to 600 units to the GB£ and 500 units to the US$.

Though we are quick to lampoon the Naira as worthless, but let us compare how much value each of these currencies equivalents fetch their owners/holders, within their borders?

In the US, a dollar ($) may not buy you more than a small bottle of water, while N500 will buy you a pack of 12 of the same bottles of water in Nigeria!

A pound (GB£) may not buy you even a small loaf of bread in London, but in Lagos, N600 will buy you and your partner, breakfast for 2, consisting of one N250 big loaf of bread, 4 fried eggs and 2 bottles of water!

Days ago, I bought 50 pcs of medium size oranges from the Ketu fruit market for N1,000, that's just $2! I bought 3 pineapples for N500 ($1)!

A litre of fuel costs N160 in Lagos, but cost $0.86 (N430) in New York! While I know people who pay cad1,700 (N500,000) per month for their glorified room and parlour self-contained in Ottawa, that is what a friend pays in 6 months, for a 2 bedroom apartment, with separate toilet, bathroom and proper kitchen, in Dolphin Estate, Ikoyi!

So why do Nigerians make so much noise over the value of their currency, when it still fetches them more value than the other currencies that they pitch the Naira against? The answer is simple: the "values" of Nigerians!

While Nigerians reacted with consternation at Dino Melaye's obnoxious display of his stolen wealth, the average Nigerian behaves exactly like Dino Melaye! From the man on the streets to the Churchpreneurs who claim to represent God!

They produce nothing, but want to flaunt everything!

Someone lamented to me about his wife's tenant, who has failed to pay N120,000 rent, for nearly a year, but slaughtered a ram and made festivities, worth N150,000, during the last Moslem "Ileya" festival!

Ask me what the idiot produces? Zilch!

Had this same debtor taken the N150,000, wasted on the one day feasting to the market, it will be more than enough to set up a fried Yam, sweet potatoes, Akara business, that can net him N300,000 monthly, and take him out of poverty and debt forever!

So, because Nigerians are unproductive at home, but consume from used clothes, to fake hair and eye lashes, to even PMS, from the abroad, they keep whining about the value of the dollar/pound-sterling against their currency.

There are universities in Nigeria, and I had my education entirely in Nigeria! So, if I chose to send my children abroad, what is the headache of the government in my personal decision, should the currency in their country of choice proves unaffordable to me? Who send me?

My personal definition of the problem with Nigeria is that, the policies of the State are manipulated to suit the indulgences of certain classes of Nigerians, who feed fat on the miseries of the masses.

Government resorted to importing fuel because some privileged Nigerians criminally destroyed our refining capacities. Rather than punish them, we put the punishment on Nigerians.

Government "subsidized" the same imported fuel, to create artificial opportunities for some privileged people to loot our treasury, under the artificially created system of "subsidies".

These Nigerians and their fraudulent economists should stop fooling themselves about the poor exchange rates of the nation's currency. 95% of the citizens of this country need food, water, Medicare, etc, obtainable in Naira!

If some useless, lecherous and unproductive, yet entitled, vanity flaunting elements like Dino Melaye, need foreign currencies to feed their insanity, what has that got to do with Nigeria?

If you want to indulge in the zero nutrition Orange, imported from wherever and sold at times ten that of super tasting Oranges from Benue, must Nigeria care about your price plight? Who send you?

If you chose Pizza over Aboki freshly cooked spicy bread and eggs, please find enough Naira to indulge in your borrowed Italian taste. #KokanAye!

This argument over our poor currency is a lie of the elite to their problems as everyone's!

Days ago, I made a 4 litre bowl of cooked beans (enough to feed at least 8 adults) from a N200 ($0:40) measure of beans! Add another N500 ($1) worth of sweet potatoes, and you have a super nutritious meal for 8 adults!

That's less than $3 in total, N1,500 (including the costs of other stuff like onions, peppers and oil), to feed 8 adults?

Before you complain that the Naira is weak, tell me what you need the foreign currencies for, and #Eruobodo will show you how you and Dino Melaye are related!

Copied!

Did the writer check the quality of those commodities he's comparing?

Alexgeneration:
$1,000 will get you more than enough groceries for 2 weeks in the US and can comfortably feed you for 3 months in Nigeria, but #1,000 can barely give you a good pot of soup in Nigeria and maybe a bottle of coke and burger in US.


That write up is just some dumb analysis by an wannabe.

It's not totally dumb but you're correct

Why I was removed as Governor - AMBODE - Hope For Nigeria

1) I constructed 22 roads in Alimosho and refused to award any of the contracts to Aregbesola and co.

2) I insisted that contracts that had been awarded to party leaders under Fashola must be executed before they can be awarded new contracts under my regime.

3) I wanted to phase out Danfos and Area boys from the streets of Lagos and introduce smarter means of transportation without Area boys and Agberos.

4) I refused to pad the budget with 10% for house of assembly led by Bayo Osinowo and Mudashir Obasa.

5) I refused to grant the concession of 4th mainland bridge to Tinubu’s Hitech

6) I refused to increase the amount of money being paid from the state revenue to Tinubu through Alpha Beta from 10% to 20%

7) I developed Epe. Epe was never in their master plan.

I refused to Aregbesola and Bayo Osinowo’s senatorial ambitions because they are not Lagosians.

9) I refused to use Lagos state funds to finance osun elections.

10) I opposed Tinubu’s succession plan, which will see his son Seyi Tinubu becoming the next Governor of Lagos state after me.

Copied
Source- Hope For Nigeria.

Sholapey:
Why I was removed as Governor - AMBODE - Hope For Nigeria

1) I constructed 22 roads in Alimosho and refused to award any of the contracts to Aregbesola and co.

2) I insisted that contracts that had been awarded to party leaders under Fashola must be executed before they can be awarded new contracts under my regime.

3) I wanted to phase out Danfos and Area boys from the streets of Lagos and introduce smarter means of transportation without Area boys and Agberos.

4) I refused to pad the budget with 10% for house of assembly led by Bayo Osinowo and Mudashir Obasa.

5) I refused to grant the concession of 4th mainland bridge to Tinubu’s Hitech

6) I refused to increase the amount of money being paid from the state revenue to Tinubu through Alpha Beta from 10% to 20%

7) I developed Epe. Epe was never in their master plan.

I refused to Aregbesola and Bayo Osinowo’s senatorial ambitions because they are not Lagosians.

9) I refused to use Lagos state funds to finance osun elections.

10) I opposed Tinubu’s succession plan, which will see his son Seyi Tinubu becoming the next Governor of Lagos state after me.

Copied
Source- Hope For Nigeria.

Lol, Ambode was surrounded by Sharks, Tigers , Lions , Cobras and Pythons as politicians / aides and criminals called godfathers but if I were him, l would have taken my chances and slug it out with the political criminals both in and outside lagos even if I lose, l lose gallantly and not as a coward

I would have gone the route of Obaseki although both lagos and Edo were 2 different ball games politically but the spirit of godfatherism was at play in both scenarios (Oshiomole)
Tinubu)

It is been alleged now that Governor Fayemi of Ekiti State and some cabals in Aso Rock silently worked underground to ensure Obaseki wins to clip the wings of Oshiomole, and what played out in Edo State is all the political permutations towards 2023 to render Tinubu / Oshiomole irrelevant and I kind of agree with that thinking

Fayemi of Ekiti State is been tipped to pair with El- Rufai in 2023 under APC presidential ticket but only time will prove that wrong or right

''Cowards die many times before their death and the valiant never taste of death but once'' >>>>> Julius Caesar /Shakespeare

OgogoroFreak:
Did the writer check the quality of those commodities he's comparing?

Bros what do you mean quality. How much is Nestle pure life in Lagos and how much is it in New York or Paris. This is manufactured by same Nestle.

Nigeria is really cheap, and the exchange rate story "no balance". The west sees what we are enjoying here.

Go to Ghana and ask them how much is that same bottle of water or fuel. All more expensive than naija.

Alexgeneration:
$1,000 will get you more than enough groceries for 2 weeks in the US and can comfortably feed you for 3 months in Nigeria, but #1,000 can barely give you a good pot of soup in Nigeria and maybe a bottle of coke and burger in US.


That write up is just some dumb analysis by an wannabe.

This your analysis does not add up. What is exchange rate, what is value.

The fact remains Nigeria is cheap and Naira can get you more things in Nigeria than USD can get you in the US. This is comparing apples for apple.

Value is the key bro. Also, the only country I've been to that is cheaper than Nigeria is Ivory Coast. And I've been around, trust me.

Alexgeneration:
If you really agree with the writer of this crap,

Which will you accept #1,000 or $1,000, regardless of where you will spend it?

I will accept £1,000.

Alexgeneration:
$1,000 will get you more than enough groceries for 2 weeks in the US and can comfortably feed you for 3 months in Nigeria, but #1,000 can barely give you a good pot of soup in Nigeria and maybe a bottle of coke and burger in US.


That write up is just some dumb analysis by an wannabe.

Btw, why are you equating N1,000 to $1,000 i.e N1 to $1?. Another big mistake and thinking by people that trumpet foreign currrncy. Is $1 = £1 or €1.

Fyi, countries are not equal or on the same level. Even in your America of the 'almighty' $$$$, is everybody on the same $1 = $1 level?.

You guys should quit and move on from this currency exchange rate comparisons. Live life according to where you are based.

Wiseoldman:


Bros what do you mean quality. How much is Nestle pure life in Lagos and how much is it in New York or Paris. This is manufactured by same Nestle.

Nigeria is really cheap, and the exchange rate story "no balance". The west sees what we are enjoying here.

Go to Ghana and ask them how much is that same bottle of water or fuel. All more expensive than naija.

To these people, once it is not priced like the US, it is fake and of low quality. During Covid-19, they were queuing and fighting over quality tissue paper while we were freely buying low quality available tissue paper.

My final comment about this exchange rate issue, and hopefully without economic jargons:

I think a lot of people on this thread do not qualify as "average Nigerians" which is maybe why it may be hard to relate from a broader perspective. A businessman or a paid worker who earns at least 150,000 monthly (and does not have a large family) may comfortably afford all that the writer highlighted, however the reality is that in the long run, his or her purchasing power will keep reducing as the Naira/dollar rates keeps falling because of how dependent on dollar that our economy is.

Now, the question is this. Out of up to 200 million Nigerians, how many of the adults make up to 150,000 monthly? How many have access to funds to enjoy these things the author is talking about that makes our naira more valuable - food, rent etc.

Why are we the world's poverty capital o? The harsh reality is that yes, Nigeria is affordable but for how many people Even the covid 19 pandemic has further sent more families into poverty......so what are we saying

Getting value....my brother was paying 400 euros for a bed space (not single room ) Per month with shared facilties that over 200k monthly while with 200k monthly in Nigeria u will have a nice deplux in lekki phase 1 or a i bedroom apartment in park view estate ikoyi .....so if all things been equal where will rather be on a bed space in Dublin or in duplex in lekki ....

Nigeria can limited the effect of dollars on it economy and living standard of it people by increasing local productivity and having and array of local substitute at low price......example will rather by processed irish patatos in shoprite for 10 euro or 5k for 1 kg or yellow irish patatos fresh from jos for 1200 1 per kg ,

ahiboilandgas:
Getting value....my brother was paying 400 euros for a bed space (not single room ) Per month with shared facilties that over 200k monthly while with 200k monthly in Nigeria u will have a nice deplux in lekki phase 1 or a i bedroom apartment in park view estate ikoyi .....so if all things been equal where will rather be on a bed space in Dublin or in duplex in lekki ....

I see what you mean. 400 Euros converted to naira is a lot of money which with prudent spending, one can live well here. And just as I had said when I talked about earning 150,000 monthly, with 200,000 monthly and living within one's means, you will be better off here (and this is also relative as you still may not have access to clean water, healthcare, good education and security).

In a broader perspective, how many Nigerians are within that earning bracket? How many of Nigerians within that bracket can confidently say that inflation in this dollar dependent economy has not eaten into their purchasing power?

ahiboilandgas:
Nigeria can limited the effect of dollars on it economy and living standard of it people by increasing local productivity and having and array of local substitute at low price......example will rather by processed irish patatos in shoprite for 10 euro or 5k for 1 kg or yellow irish patatos fresh from jos for 1200 1 per kg ,

Of course, just as a few contributors to this discussion have said, the author got this one right. We need to start producing to help reduce the over dependency on dollars. We have the human resource for this, only thing lacking seriously is the political willpower.

The political issue has been discussed well here, so no need to repeat it again. We need strong value re-orientation in our country, and I think it has to start from the head, because that is where the rot also started....we were not always like this as a people.

But once Nigerians are unproductive and want thias to farm rice they will eat , Dutch to milk cow and export mill to them , Chinese to do poultry, Norwegians to do fish for the, europeans to drill there own oil , Indian to send petrol , China to do bulbs , sockets , buckets, toothpick , Japaneses. Cars South Africa to provide contents to be watched on tv ....and all Nigerians do is fight ethnic and religious battles online and play Najia bet and consume other people hard work we keep getting hit by the dollars ......dollars to yen is about 120 .....who cares it even Good for the Japanese affordable toyota to Americans.

To reset the wrong software in Nigerians we must first start in our own little way increase our productivity.....example let me start as an individual to raise all my protein requirements either beef , or chickens if million of citizen's do this the forex pressure from poultry import from China is out....

No body needs our Naira even the Nigeria citizen's are holding 25 bn dollars in dorm s......una dey unproductive want other in China, thailand ,Japan to feed , cloths u and produce even tooth pick for una and dont even like u local currency ......we in for a long thing ....

Imagine the number of keke marwa in kano ....u go fear u might think in are in India.....so all those prof this are that in Asu alway striking with all the engineering departments cannot produce common keke ....even keke we want Indians to do the job our own is to ride and over load and collect fares and play Nijai bet ( foreign soft ware) and shout up man u ... ( foriegn content )

ahiboilandgas:
But once Nigerians are unproductive and want thias to farm rice they will eat , Dutch to milk cow and export mill to them , Chinese to do poultry, Norwegians to do fish for the, europeans to drill there own oil , Indian to send petrol , China to do bulbs , sockets , buckets, toothpick , Japaneses. Cars South Africa to provide contents to be watched on tv ....and all Nigerians do is fight ethnic and religious battles online and play Najia bet and consume other people hard work we keep getting hit by the dollars ......dollars to yen is about 120 .....who cares it even Good for the Japanese affordable toyota to Americans.

You forgot to add that on Sundays, they congregate in abandoned warehouses to start claiming miracles from God and go for special claiming of miracles on special Fridays on large expanses of land on Lagos-Ibadan expressway. Expanses of land that would easily have produced more than enough rice to feed and employ them or have large dairy farms that will produce more than enough milk for them.

NL1960:


You forgot to add that on Sundays, they congregate in abandoned warehouses to start claiming miracles from God and go for special claiming of miracles on special Fridays on large expanses of land on Lagos-Ibadan expressway. Expanses of land that would easily have produced more than enough rice to feed and employ them or have large dairy farms that will produce more than enough milk for them.

produce or die.....soon milk will be luxury item and over 100m Nigerians cannot pay the Dutch the cost price and exchange rates.....any way we will fast and pray for milk ....instead of milking , mechanizing our 40m cows roaming round Nigeria and causing problems

ahiboilandgas:
But once Nigerians are unproductive and want thias to farm rice they will eat , Dutch to milk cow and export mill to them , Chinese to do poultry, Norwegians to do fish for the, europeans to drill there own oil , Indian to send petrol , China to do bulbs , sockets , buckets, toothpick , Japaneses. Cars South Africa to provide contents to be watched on tv ....and all Nigerians do is fight ethnic and religious battles online and play Najia bet and consume other people hard work we keep getting hit by the dollars ......dollars to yen is about 120 .....who cares it even Good for the Japanese affordable toyota to Americans.

Exactly! Good that you mentioned the Japanese Yen. The average person living in Japan has no business with monitoring Dollar/Yen exchange rate even though it is as you said about 120yen to a dollar....it makes no difference to him or her.

The Yen provides a very strong purchasing power to them, they have access to top class education, healthcare, security, good food, rent....you see what I am trying to point out. I think we are reaching an agreement on this discussion. Japan produces major of what they consume up to technology.

Economic policies in Nigeria should align, recognizing all the failures of building a vibrant economy and how much this has cost us, and find ways to do better. All these kangaroo policies that CBN has been messing with lately,...I'm not sure where we are headed to.

NL1960:


Btw, why are you equating N1,000 to $1,000 i.e N1 to $1?. Another big mistake and thinking by people that trumpet foreign currrncy. Is $1 = £1 or €1.

Fyi, countries are not equal or on the same level. Even in your America of the 'almighty' $$$$, is everybody on the same $1 = $1 level?.

You guys should quit and move on from this currency exchange rate comparisons. Live life according to where you are based.

Naira is has valuable as the amount of things you can buy with in a global market in comparison to other currencies.

This is just a simplified explanation, we haven't considered other things like minimum wage.

Tabuse2024:


Exactly! Good that you mentioned the Japanese Yen. The average person living in Japan has no business with monitoring Dollar/Yen exchange rate even though it is as you said about 120yen to a dollar....it makes no difference to him or her.

The Yen provides a very strong purchasing power to them, they have access to top class education, healthcare, security, good food, rent....you see what I am trying to point out. I think we are reaching an agreement on this discussion. Japan produces major of what they consume up to technology.

Economic policies in Nigeria should align, recognizing all the failures of building a vibrant economy and how much this has cost us, and find ways to do better. All these kangaroo policies that CBN has been messing with lately,...I'm not sure wherne we are headed to.

God bless you

Wiseoldman:


Bros what do you mean quality. How much is Nestle pure life in Lagos and how much is it in New York or Paris. This is manufactured by same Nestle.

Nigeria is really cheap, and the exchange rate story "no balance". The west sees what we are enjoying here.

Go to Ghana and ask them how much is that same bottle of water or fuel. All more expensive than naija.

They are different. I once imported nestle milo from USA, Mehn, come see how creamy it is. Huge difference!
Same thing with coke and Pepsi.

So I want you to import that same nestle pure life from USA and buy one from Nigeria market. Then open and compare both before you come here to argue blindly.

You can buy full cream peak milk Nigeria and full cream peak milk Holland. Both are sold here in Nigeria and produced by same company but very different in quality. One is produced in Nigeria, the other is imported. If I finish one tin of the Nigerian made one at a go, I always purge helplessly but the Holland own doesn't purge me, infact, I feel so alive when I finish one tin of it at a go.

All still boils down to leadership, humans are herd animals..............I was impressed when I once saw Buhari and oshibajo taking milo and 3crowns milk.....,,The picture went viral on the Internet ,,,,,, but once they got power what did we see.......... Every day foreign designer, foreign food , foreign hospital....,,etc

If the medical facility that handled Abba Kyari and other top politicians keep getting the type of patronage they got this covid era........Can you imagine the ripple effect it would have on hospitals on the island and Nigeria as a whole.....

I still repeat Nigerian leaders know what to...... Let them eat local rice, use local hospitals, ride innoson bulletproof cars, drink top tea with cowbell milk, wear Aba made shoes ...........If they can every other thing will fall in place

OgogoroFreak:
They are different. I once imported nestle milo from USA, Mehn, come see how creamy it is. Huge difference!
Same thing with coke and Pepsi.

So I want you to import that same nestle pure life from USA and buy one from Nigeria market. Then open and compare both before you come here to argue blindly.

You can buy full cream peak milk Nigeria and full cream peak milk Holland. Produced by same company but very different in quality. One is produced in Nigeria, the other is imported. If I finish one tin of the Nigerian made one at a go, I always purge helplessly but the Holland own doesn't purge me, infact, I feel so I alive when I finish one tin of it at a go.

Bros Nestle Pure Life nah water ooooo. Do you mean that the water from New York taste better. I'm not understanding you, or do you mean the one from Paris that cost 1Euro (500 Naira using the co-called exchange rate) taste better than the same Pure life bottle that cost max 100 Naira in Lagos.

Even Nestle will be shocked.

OgogoroFreak:
They are different. I once imported nestle milo from USA, Mehn, come see how creamy it is. Huge difference!
Same thing with coke and Pepsi.

So I want you to import that same nestle pure life from USA and buy one from Nigeria market. Then open and compare both before you come here to argue blindly.

You can buy full cream peak milk Nigeria and full cream peak milk Holland. Both are sold here in Nigeria and produced by same company but very different in quality. One is produced in Nigeria, the other is imported. If I finish one tin of the Nigerian made one at a go, I always purge helplessly but the Holland own doesn't purge me, infact, I feel so alive when I finish one tin of it at a go.

Lol..........now imagine If the president decides to eat truly local takes the same peak milk and purges......it would no longer be personal gbege as the right agencies of govt will be called into action...... No body will need to tell all companies to sit up and sell truthfully to Nigerians..... Till then we are all deceiving ourselves

NL1960:


To these people, once it is not priced like the US, it is fake and of low quality. During Covid-19, they were queuing and fighting over quality tissue paper while we were freely buying low quality available tissue paper.

My brother "the thing tire me". This is neocolonialism at its peak. See the brother/sister that made a comment earlier that Nestle pure life from NYC/Paris is better than that from Agbara in Ogun State. This nah bottled water ooo.

Wiseoldman:


Bros Nestle Pure Life nah water ooooo. Do you mean that the water from New York taste better. I'm not understanding you, or do you mean the one from Paris that cost 1Euro (500 Naira using the co-called exchange rate) taste better than the same Pure life bottle that cost max 100 Naira in Lagos.

Even Nestle will be shocked.

Oga mi go and do the taste and If you see no difference I will refund you the purchase money....... Na naijA we dey

Wiseoldman:


Bros Nestle Pure Life nah water ooooo. Do you mean that the water from New York taste better. I'm not understanding you, or do you mean the one from Paris that cost 1Euro (500 Naira using the co-called exchange rate) taste better than the same Pure life bottle that cost max 100 Naira in Lagos.

Even Nestle will be shocked.

I mentain my stand that it is different. As long as coke, Pepsi, milo and peak milk from abroad are all different from my personal experience, I don't think the pure life would be an exception.

Wiseoldman:


My brother "the thing tire me". This is neocolonialism at its peak. See the brother/sister that made a comment earlier that Nestle pure life from NYC/Paris is better than that from Agbara in Ogun State. This nah bottled water ooo.

Neo colonialism is real in Africa. It is also a fancy word we usually throw around when we want to feel patriotic for no reason....

Ask anybody who works in manufacturing or is into manufacturing, the quality of what we have available is sometimes poor compared to global standards (I don't know about water though)

The cabin biscuit you bought in the 80s down to the 90s is very different in taste from what we have for sale now...

The minimum wage is supposed to be 30,000. We know many Nigerians earn lower. The average employed graduate earns about 50/60,000 naira, not to talk about the large number of unemployed....

How many of them are enjoying all these affordable things our "strong, valuable" naira can buy for us? How many can afford decent rent in the city? How many earn as much in the rural/semi urban areas?

we are the poverty capital of the world.

I repeat, people in this thread are not necessarily average Nigerians, which is why we are still arguing this.

OgogoroFreak:
I mentain my stand that it is different. As long as coke, Pepsi, milo and peak milk from abroad are all different from my personal experience, I don't think the pure life would be an exception.

You are right bro