NewStats: 3,263,759 , 8,181,308 topics. Date: Saturday, 07 June 2025 at 07:01 PM 3h3r2s

riches4me:
Currency as a product which forms d basis of exchange rates is first about demand and supply.
The demand for dollar in Nigeria is extremely high, dats why it is priced so high, coupled the population of Nigeria.
The supply of it is so limited, we only get it in relatively small amount through crude oil sale.
If the country can produce enough goods and services to drastically reduce the demand, you'll see an immediate reduction in the exchange rate because very few people will want it.

It's not that importing in advent of itself is bad. It's that we should be exporting just as much or far more than we are importing.

nedu666:


Refined crude
Steel products
Aluminum products
Petrol chemical products
Finished textile products

Why should we not be importing steel products, or aluminium products do you have any comparative advantage in that area

specialmati:
that's the target,be patient the agbero chairman,the wisest man from the west,the master strategist,the manufacturer of bullion vans will soon get it there

I even want it to be $1 = #15,000 naira so e go choke gon. Let me see how you want to buy IPhone.

Tunde835:
I even want it to be $1 = #15,000 naira so e go choke gon. Let me see how you want to buy IPhone.

I said be patient the agbero chairman will bring your heart desires to reality.he built Lagos State from the sea, manufactures bullion vans so getting a dollar to 15000 is a small thing for him to do.

Tunde835:
Nigerians like you can be very uncreative.

yoruba man,the guy is telling you the truth, you won't see it because you want to defend your brother
You don't put a cart before the horse and expect easy movement, that's not how things work
The exchange rate is the price the government wants to sell dollars or other foreign exchange, not based on actual demand, there are so much distortion in the demand, beside, you don't devalue when you don't have what to export
Tinubu is all wrong in this one and reckless,

Tunde835:
A lot of Nigerians are weeping, crying and complaining about the exchange rate with the Dollar. They don't know that a country's currency value is directly correlated to the amount of goods they produce and export. The reason a dollar is #1,600 compared to Naira is because America has a lot of companies. They have a lot to things to offer the world America created the iPhone you all use. They created whatsapp, Instagram, YouTube, Google, Twitter or X. From Nike sneakers to Marvel studios to Boeing airplanes. They're American. While Nigeria only exports oil and maybe afro beats. I don't think music brings that much to us in revenue because we're still streaming it on American platforms. Apple music oh, maybe not Spotify cause they're Swedish, YouTube music they're American. So until Nigerians become creative and start building innovative companies the dollar is going to keep getting worse. Nobody is going to give value to a currency that doesn't give anything. The US was built on capitalism. Instead of blaming Tinubu for everything you can solve some of the problems yourself.

You didn't this when the whole Yorubaland ganged up against Goodluck Jonathan.

DatIgalaDude:
Dear OP, if you know the volume of mineral resources asides crude oil leaving Nigeria everyday that doesn't reflect on our trade balancesheet. Naira should be very close to the dollar. Nigeria is being r@ped daily and our leaders are quiet because of their greed.

That is the problem. But if Nigeria has a serious president like Traore, he will stop illegal mining. But we know our president won't stop it. He is in bed with those who steal our resources

Tunde835:
Nigerians don't have any ideas. We don't have an animation studio or world class movie studio. No nothing. Time that youths should be building startups they're still asking them to do NYSC. Do you think Americans go for NYSC after university?

So is NYSC your problem... Do u know south Korea youths goes for same stuff yet the country bus developed

Do u know isreali youths go for such yet, the country is developed...

See, bro, Nigeria number one problem is coruption, nothing else.. kill coruption and Nigeria will b great

Tunde835:
I'm planning on starting a tech company soon

Oh you are still in planning stage all this while yet you are calling other Nigerians lazy and dumb

ayusco85:


That is the problem. But if Nigeria has a serious president like Traore, he will stop illegal mining. But we know our president won't stop it. He is in bed with those who steal our resources

Our leaders cannot deny that they don'tknow what is happeningto our resources.

AdesegunSanni89:
Ghana is just fooling itself. Even China and Japan that produce everything still try to devalue their currencies against the US dollar to improve the competitiveness of their economies. Ghana wey be 3rd world country dey drag currency with America.

Thank you. What we are seeing from Ghana, that even Nigeria used to engage in before Tinubu, is the 419 antics of leaders who do not want to embrace, once and for all, the challenge of growing an economy organically.

OP has eloquently illustrated the folly and ignorance of comparing the robustness of the American economy to the undiversified and essentially mono-economy Nigeria has.

Yet Nigerians foolishly continue to demand 1 Naira to 1 dollar when, as floatation of Naira has exposed, our economy does not deserve to have a strong currency unless we prefer the continuation of the 419 subsidising of the Naira to make it appear stronger than it is, as was the case under Buhari and GEJ etal.



Wherras the best and most economically advantageous option, we should embrace automatically, is to avoid shortcuts and work hard to grow our economy first and then experience automatic and holistic strenghtening of our currency as a natural consequence of such, via efforts to boost trade surplus for example, rather than olodo daydreaming and self-deception.

Ghanaians, as a people, are heavily into deceit. They believe perception is greater than reality. This is why their leaders prefer using central bank 419 tweaks, available to any national central bank Governor, to make the Cedi appear 'valuable' in comparison to other currencies. This is why they redenominated in 2007 in the first place.

If we look at the inherent strenght of the Cedi and it's comparative purchasing power parity, it becomes obvious this is a factually worthless currency that reflects the low worth, low productivity and low growth potentials of the Ghanaian economy.

Facts that no one can hide from discerning and knowledgeable observers not taking in by gimmicks, catchphrases and deception aimed at fooling those illiterate over national monetary policy.

Tinubu, Cardoso and Nigeria are going about things the right way. OP's argument is correct when he insists that it is the genuinely robust and innate strenght of a nations economy that must confer upon said nation a strong currency that is highly desirable and convertible as global currency of trade and exchange of value.

Tinubu realises this and that is why his approach is to grow the Nigeria economy holistically and organically and not engage in the 419 deception of his predecessors who all ran very poor and undiversified economies with Naira artifically boosted to enhance it appearance of 'strenght' to laymen.

People should ask whether any international businessman, even with Ghana currency showing supposed strenght against the dollar on paper, will accept cedis or transact with it as one of the choice currencies of international transaction as they would use dollars, Pounds sterling, Yen etc.

jamesversion:


You didn't this when the whole Yorubaland ganged up against Goodluck Jonathan.

Jonathan was already there for 6 years we had to try something new

nedu666:


Oh you are still in planning stage all this while yet you are calling other Nigerians lazy and dumb

Yeah. Nigeria would be a better place if more people were planning to start companies

WizardOfNG:


Thank you. What we are seeing from Ghana, that even Nigeria used to engage in before Tinubu, is the 419 antics of leaders who do not want to embrace, once and for all, the challenge of growing an economy organically.

OP has eloquently illustrated the folly and ignorance of comparing the robustness of the American economy to the undiversified and essentially mono-economy Nigeria has.

Yet Nigerians foolishly continue to demand 1 Naira to 1 dollar when, as floatation of Naira has exposed, our economy does not deserve to have a strong currency unless we prefer the continuation of the 419 subsidising of the Naira to make it appear stronger than it is, as was the case under Buhari and GEJ etal.



Wherras the best and most economically advantageous option, we should embrace automatically, is to avoid shortcuts and work hard to grow our economy first and then experience automatic and holistic strenghtening of our currency as a natural consequence of such, via efforts to boost trade surplus for example, rather than olodo daydreaming and self-deception.

Ghanaians, as a people, are heavily into deceit. They believe perception is greater than reality. This is why their leaders prefer using central bank 419 tweaks, available to any national central bank Governor, to make the Cedi appear 'valuable' in comparison to other currencies. This is why they redenominated in 2007 in the first place.

If we look at the inherent strenght of the Cedi and it's comparative purchasing power parity, it becomes obvious this is a factually worthless currency that reflects the low worth, low productivity and low growth potentials of the Ghanaian economy.

Facts that no one can hide from discerning and knowledgeable observers not taking in by gimmicks, catchphrases and deception aimed at fooling those illiterate over national monetary policy.

Tinubu, Cardoso and Nigeria are going about things the right way. OP's argument is correct when he insists that it is the genuinely robust and innate strenght of a nations economy that must confer upon said nation a strong currency that is highly desirable and convertible as global currency of trade and exchange of value.

Tinubu realises this and that is why his approach is to grow the Nigeria economy holistically and organically and not engage in the 419 deception of his predecessors who all ran very poor and undiversified economies with Naira artifically boosted to enhance it appearance of 'strenght' to laymen.

People should ask whether any international businessman, even with Ghana currency showing supposed strenght against the dollar on paper, will accept cedis or transact with it as one of the choice currencies of international transaction as they would use dollars, Pounds sterling, Yen etc.

I'm just trying to explain to them to point it out that it's urgent we start producing and exporting a lot more. It's the only legit way to increase the value of our currency. And the fact about exports is that it can be anything. It could be shoes, clothes, agricultural produce. Just produce and export something. We can't keep going on the same path. The reason iphones or laptops cost more is because we import a lot of iphones without exporting much in return.

Tunde835:
I'm just trying to explain to them to point it out that it's urgent we start producing and exporting a lot more. It's the only legit way to increase the value of our currency. And the fact about exports is that it can be anything. It could be shoes, clothes, agricultural produce. Just produce and export something. We can't keep going on the same path. The reason iphones or laptops cost more is because we import a lot of iphones without exporting much in return.

Precisely baba. There is no way to scam our way to gaining a great and powerful economy, to then automatically derive a strong currency as a consequence of such, as Nigerians wish to see.

The only way to gain a strong economy, and an attendantly matching strong currency, is by working hard, sincerely and transparently, building our economy on holistic foundation of developing greater manufacturing capacity, strong export of goods and services the world wants, domestic food sufficiency and export etc, etc.

The above we can aid with drastic improvement of our education sector to produce skilled labour that can address internal demand in civil engineering etc and then even surplus we can export.

We must work on better security of human lives and property, improved and reliable power supply etc, etc.

It is obvious how the Goverment of PBAT is moving I.e with a holistic, completely organic and fundamental ground-up approach devoid of talk and actions designed to play to the Gallery and decietfully patronise Nigerians as previous governments all did to various extent.

Says a Yoruba man trying to defend Tinubu. What was Nigeria producing during PDP era?

Tunde835:
A lot of Nigerians are weeping, crying and complaining about the exchange rate with the Dollar. They don't know that a country's currency value is directly correlated to the amount of goods they produce and export. The reason a dollar is #1,600 compared to Naira is because America has a lot of companies. They have a lot to things to offer the world America created the iPhone you all use. They created whatsapp, Instagram, YouTube, Google, Twitter or X. From Nike sneakers to Marvel studios to Boeing airplanes. They're American. While Nigeria only exports oil and maybe afro beats. I don't think music brings that much to us in revenue because we're still streaming it on American platforms. Apple music oh, maybe not Spotify cause they're Swedish, YouTube music they're American. So until Nigerians become creative and start building innovative companies the dollar is going to keep getting worse. Nobody is going to give value to a currency that doesn't give anything. The US was built on capitalism. Instead of blaming Tinubu for everything you can solve some of the problems yourself.

Tunde835:
Nigerians like you can be very uncreative.

So all of u not wits campaigned for tinubu to come and be giving Nigerians useless excuses?

Tunde835:
Jonathan was already there for 6 years we had to try something new

How is that working out for you?

ogashman:


So all of u not wits campaigned for tinubu to come and be giving Nigerians useless excuses?

I didn't or vote for Tinubu. I was actually ing Peter Obi and was surprised when Tinubu won. Peter obi won in Lagos for a reason but it won't happen again.

Brendaniel:


Till you start and then succeed in your venture then you have no right to call any other Nigerian lazy or dumb, who the hell are you to insult people who are hardworking ?

Who travel out to foreign countries and beat the people there hands down in their own system their government has provided even with the indigenous people there having more advantage sometimes...

Who the hell are you?

I never believed I will ever see the Yorubas from this perspective in my life, did you people say all these during Jonathan's time?

Look at you guys defending nonsense and bad governance all because Tinubu is your tribes man...

Till you have opened your tech company and succeeded in it then don't you ever in your life call Nigerians lazy or dumb who the hell are you?

Nigerians are uncreative I'll say it as much as I want.

Tunde835:
Nigerians are uncreative I'll say it as much as I want.

Speak for yourself , you what have you done for Nigeria in that aspect ?

Are you not a Nigerian?

Are you saying you are not also creative?

Proudlyngwa:


Why should we not be importing steel products, or aluminium products do you have any comparative advantage in that area

They don't understand.

Brendaniel:


Speak for yourself , you what have you done for Nigeria in that aspect ?

Are you not a Nigerian?

Are you saying you are not also creative?

I'm still actually in my 20s. By the time I'm in my 30s I would have done a lot. Created a lot of jobs too.

Brendaniel:


That is not an excuse, as long as you are an adult from 18 you can show us what you have contributed with your creativity no matter how small....

Nobody is telling you to even employ anybody yet, just tell what you have done with the creativity you claim you have and others do not...

Look at how arrogant and insultive you sound to hardworking and creative Nigerians and yet you are in your 20s and with nothing to show.

You are saying you will do it in your 30's, I'm just laughing here, you are very far from reality... I doubt you've ever ran a business before...

Who the hell are you ?

So much arrogance with so much ignorance...

Even Dangote will never make such a statement, he will not even attempt it...


Just because you want to defend Tinubu's poor performance, like I told you earlier on, till you have started your business and made it successful you will be doing yourself a very big mistake calling Nigerians uncreative...

You might regret this your statement so bad in future... Just be very careful with the kind of things you say...

I'm still stating facts you can't blame everything on Tinubu. Citizens have their part to play.

This is a very informative thread on how to increase the value of Naira. Yet, political and ethic primordial selfishness will not let many of us focus on reality.

As a basic undersstading, even a gullible person knows a country can never grow by focusing overwhelming on imports. So why can't we agree on that?

Politics and selfish ends or interests! People forget so fast that it was OBJ that facilitated Jonathan into Vice-president. (And) Yoruba voted overwhelmingly for him to become President. He later called OBJ motor park tout. The people that dominated his Cabinet and "our Oil our money" left Niger Delta Environmental Swamp worse than they met it; building fortunes and a Virgin country in Europe and America.

Tunde835:
I didn't or vote for Tinubu. I was actually ing Peter Obi and was surprised when Tinubu won. Peter obi won in Lagos for a reason but it won't happen again.

Is this fact or fiction? Yet Yoruba remain your worst enemies (kill Yoruba before a snake) for not handing their land over.

Your hypocrisy, selfishness and territorial ambition have become a wakeup call to most of all your Yoruba ers.