When Naira Was Naira - Business (3)

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When Naira Was Naira - Business (3) - Nairaland

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Re: When Naira Was Naira by Deepfreezer(m): 6:57pm On Mar 22, 2017

Lessons learnt the hard way I bought dollars 2013 for 161naira. Honestly Its painful looking at the rate today.

Re: When Naira Was Naira by robosky02(m): 7:04pm On Mar 22, 2017

Re: When Naira Was Naira by SweetJoystick(m): 7:06pm On Mar 22, 2017

cheaphost:
Surah Bureau de change is at Wuraola house on Allen.

Sulah

Re: When Naira Was Naira by uglodoh(f): 7:13pm On Mar 22, 2017

Even at this rate, are you saying naira was naira?

Re: When Naira Was Naira by DexteryJoe(m): 7:25pm On Mar 22, 2017

(fold hands), Chai!!, SMH

Re: When Naira Was Naira by oyienootieno: 7:37pm On Mar 22, 2017

Many rants online, but when you investigate them thoroughly they don't even have a business idea or entrepreneurship to empower small scale biz... need to see 'Change' then change your way of reasoning first.. impact those you can in your own small capacity and see how your bit and mine will bring the mich needed change and development. The fact that there's a free flow of traffice in many advance country is because many chose no to follow "one way" be the change..

1 Like

Re: When Naira Was Naira by Iamdmentor1(m): 7:37pm On Mar 22, 2017

9jakohai:

And oil was at $110 and above.

And we had enough forex flowing in as a result.

And we could afford to let in lots of foriegn investors because they could remit their money home easily (With so much flowing in CBN did not need to do restriction stuff).

By the way....in 1978....N1=$1

Then we were
No 1 in palm oil
No 2 in cocoa
Top5 groundnut producer
Top 5 cotton producer
Top 5 beninseed producer
Top 5 tin and comlumbite producer
Modest exporter of gold. (oh yes!)
Enjoying an oil boom.
Manufacturing things like biscuit, batteries, cars, tyres, etc at home.

If we want to get back there....either we

1.Become productive, which most Nigerians do not like because we like oyinbo and chinese stuff.

2.Allow naira to float...which most Nigerians do not like because we are so fixiated on a strong currency (with nothing to export).

3.Fast and pray that oil goes back to $100 and above (in our dreams).

4.Take a loan to improve power, rail, road and education as a matter of interest. (Hey, South Korea did it in the 1960's).

5.Start buying Nigerian

6.Cut all subsides, and raise taxes, power bills, etc (which most Nigerians do not like because we think that we should pay N10 per liter for fuel, and N100 per semester as university fees).

You want a strong currency.....then work for it. Be prepared for more hardship. Stop waiting for oil. Start producing. Improve your education. Read Field Ruwe everyday.

Yes...all of you asking Buhari to return our currency back to where it was...by the time you realise how tough a road that is going to be...you will keep quiet and beg him to keep pumping dollars. Well...the dollars are not enough.

Time we got some work done.

Rant over.

And the most important... assemble the past and present rulers who have embezzled and are still embezzling our funds, in a building and bomb them, leaving no survivor.

1 Like

Re: When Naira Was Naira by omofela85(m): 7:38pm On Mar 22, 2017

veekid:
Yeah my people, I found this in my closets this morning, so I decide to let you guys have a look. When naira was still naira. One Euro then was 203 & 206 naira with three days interval.

abeg let my people go

sulah for e arrival and d arrival

Re: When Naira Was Naira by ehissi(m): 7:39pm On Mar 22, 2017

vizkiz:
I remember those days when shawama (full package) costs 500 naira.

When I can cook a good meal with 1k

When I can use 2k petrol for a whole week

How did we get here?

Bros na one chance motor na E bring us Here, courtesy of APC Zombies......... angry

The difference between them and YEAA (Youth Ernestly Asking for Abacha), I no know......... undecided

1 Like 1 Share

Re: When Naira Was Naira by AngelicBeing: 7:42pm On Mar 22, 2017

Keneking:
Useless APC government

l agree, they are very useless, corrupt and wicked

Re: When Naira Was Naira by AngelicBeing: 7:45pm On Mar 22, 2017

REIIGN:
This was before we let an 80 year old kunu drinking, burukutu sipping, certificateless cattle rearer take over the highest seat in the land!

How can a country of technocrats be ruled by a War-College diploma holder? How did we get here? In saner climes, Buhari is not even qualified to work as a domestic staff in the Presidential villa.

How did we get here?

You are making me laugh so hard, lol @ the bold of your comment, l concur

Re: When Naira Was Naira by dragonking3: 7:50pm On Mar 22, 2017

pocohantas:
That's exactly how the value of some Nigerian men be dropping.
Which one we go use console ourselves now?

Things are expensive, even to see better boyfriend that will make you happy scarce like dollar. OP, the value of oil was good then sha.

Nobody should quote me

What was the value of oil in 1999/2000? What was the price of dollars to naira then too? Compare them to what we have now.

Re: When Naira Was Naira by omolola15(m): 7:53pm On Mar 22, 2017

happney65:

Before Buhari and co came and destroyed everything..Awon weere..

LooooooooooooooooooooooooL get well soon bro......

Re: When Naira Was Naira by Daboomb: 8:06pm On Mar 22, 2017

vizkiz:
I remember those days when shawama (full package) costs 500 naira.

When I can cook a good meal with 1k

When I can use 2k petrol for a whole week

How did we get here?

How did we get here?
You really wanna know how we got here?

Search no further........... See Below.

3 Likes

Re: When Naira Was Naira by Abagworo(m): 8:07pm On Mar 22, 2017

It was once $2 to 1 Naira. Over the years devaluation has occurred without recovery.

Re: When Naira Was Naira by davibid: 8:08pm On Mar 22, 2017

vizkiz:
I remember those days when shawama (full package) costs 500 naira.

When I can cook a good meal with 1k

When I can use 2k petrol for a whole week

How did we get here?

Kwuntinue asking

Ayam afearing if 9ja youth no go vote for Sai baba come 2019 bcoz of 1k compensation

angry

Re: When Naira Was Naira by Nobody: 8:09pm On Mar 22, 2017

pocohantas:
That's exactly how the value of some Nigerian men be dropping.
Which one we go use console ourselves now?

Things are expensive, even to see better boyfriend that will make you happy scarce like dollar. OP, the value of oil was good then sha.

Nobody should quote me

@the highlighted red.
Thats how the wife material in some Nigerian ladies is not even enough to sew a G-String grin

Re: When Naira Was Naira by nkemjacob2(m): 8:19pm On Mar 22, 2017

yet that stupid and influential report will say nigeria is out of recession.

Re: When Naira Was Naira by AlphaStyles(m): 8:25pm On Mar 22, 2017

I can't use 5 naira again

Re: When Naira Was Naira by Amosj781: 8:27pm On Mar 22, 2017

From the way I see things there is high criticism for buhari's regime if u look at Jonathan pics before and after he came into power u will see that his skin was fresh wen he left office compare with buhari now. Also look at d two first ladies patient and aisha. Patient busy making herself permanent secretary(she almost made life miserable for amechi when he was governor) see aisha, creating programmes to empower women and children in the north. To me I will say we should stop putting blame on people because we are all responsible for d state of d economy one way or d other. A man once told me that everytin in his home was from abroad from d tiles on d floor to d bulb on d roof and all this for CLASS. We have long valued item made abroad than things made in d country. Buhari's method might be wrong but he has good intentions for this country. U see a man managing an economy in recession when d gold of d nation is sold for $50 per barrel (half d usual price) what was d previous government able to do when oil was $105 (remove oil subsidy to build refinery. Now were is d refinery #Only_God_knows). They called it d transformation agenda what I know is dat if d buhari government had d opportunities d formal government had (foreign investors,high oil price,steady dollar rate/economy) he would perform better.

Re: When Naira Was Naira by happney65: 9:14pm On Mar 22, 2017

omolola15:

LooooooooooooooooooooooooL get well soon bro......

Re: When Naira Was Naira by hush15: 9:30pm On Mar 22, 2017

vizkiz:
I remember those days when shawama (full package) costs 500 naira.

When I can cook a good meal with 1k

When I can use 2k petrol for a whole week

How did we get here?

Na fayose cause am because anytime he takes a picture eating rice or cutting kpomo, bubu go just dey vex and not know what to do again

Re: When Naira Was Naira by lesson44: 9:31pm On Mar 22, 2017

9jakohai:

And oil was at $110 and above.

And we had enough forex flowing in as a result.

And we could afford to let in lots of foriegn investors because they could remit their money home easily (With so much flowing in CBN did not need to do restriction stuff).

By the way....in 1978....N1=$1

Then we were
No 1 in palm oil
No 2 in cocoa
Top5 groundnut producer
Top 5 cotton producer
Top 5 beninseed producer
Top 5 tin and comlumbite producer
Modest exporter of gold. (oh yes!)
Enjoying an oil boom.
Manufacturing things like biscuit, batteries, cars, tyres, etc at home.

If we want to get back there....either we

1.Become productive, which most Nigerians do not like because we like oyinbo and chinese stuff.

2.Allow naira to float...which most Nigerians do not like because we are so fixiated on a strong currency (with nothing to export).

3.Fast and pray that oil goes back to $100 and above (in our dreams).

4.Take a loan to improve power, rail, road and education as a matter of interest. (Hey, South Korea did it in the 1960's).

5.Start buying Nigerian

6.Cut all subsides, and raise taxes, power bills, etc (which most Nigerians do not like because we think that we should pay N10 per liter for fuel, and N100 per semester as university fees).

You want a strong currency.....then work for it. Be prepared for more hardship. Stop waiting for oil. Start producing. Improve your education. Read Field Ruwe everyday.

Yes...all of you asking Buhari to return our currency back to where it was...by the time you realise how tough a road that is going to be...you will keep quiet and beg him to keep pumping dollars. Well...the dollars are not enough.

Time we got some work done.
T
Rant over.

I like when people with brain comments. Well said.

1 Like

Re: When Naira Was Naira by chrisja(m): 9:34pm On Mar 22, 2017

REIIGN:
This was before we let an 80 year old kunu drinking, burukutu sipping, certificateless cattle rearer take over the highest seat in the land!

How can a country of technocrats be ruled by a War-College diploma holder? How did we get here? In saner climes, Buhari is not even qualified to work as a domestic staff in the Presidential villa.

How did we get here?

"In a saner climes" so true...

Re: When Naira Was Naira by chrisja(m): 9:41pm On Mar 22, 2017

rusher14:
Average crude oil prices in 2012 were at historically high levels for the second year in a row. Brent crude oil averaged $111.67 per barrel, slightly above the 2011 average of $111.26.

https://www.eia.gov/todayinenergy/detail.php?id=9530

Go and read secondary school economics text book again so u can understand how monetary & fiscal policy affects the economy. Oil price is not responsible for the situation we are in... It's a govt without ideas..

Re: When Naira Was Naira by djgreenland(m): 9:57pm On Mar 22, 2017

vizkiz:
I remember those days when shawama (full package) costs 500 naira.

When I can cook a good meal with 1k

When I can use 2k petrol for a whole week

How did we get here?

We flew I guess...

Re: When Naira Was Naira by lildush(m): 10:03pm On Mar 22, 2017

rheether:
When we though Jona was clueless

hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha hahaha now we no better

Re: When Naira Was Naira by Amosj781: 10:07pm On Mar 22, 2017

U are wrong oga. With d economy so dependent on oil, d price will surely affect.

Re: When Naira Was Naira by rusher14: 10:22pm On Mar 22, 2017

chrisja:
Go and read secondary school economics text book again so u can understand how monetary & fiscal policy affects the economy. Oil price is not responsible for the situation we are in... It's a govt without ideas..

Stop deceiving yourselves.

Nigeria is not an exporter of any product besides oil.

It follows that with high oil prices we tend to do better and conversely when the price dips so does our currency.

In 2014, as soon as the price of oil in the international market dipped the Naira suffered major volatility and dip.

Please tell me what change in policy caused this massive shift in price of the dollar between One month of 2014 (coincident with dip in oil prices)?

Re: When Naira Was Naira by LastProphet: 10:39pm On Mar 22, 2017

REIIGN:
This was before we let an 80 year old kunu drinking, burukutu sipping, certificateless cattle rearer take over the highest seat in the land!

How can a country of technocrats be ruled by a War-College diploma holder? How did we get here? In saner climes, Buhari is not even qualified to work as a domestic staff in the Presidential villa.

How did we get here?

only a very very dull person will be asking this question after a Phd holder opened the foreign reserve of a whole country for his friends to loot.

Re: When Naira Was Naira by elvision1(m): 11:33pm On Mar 22, 2017

9jakohai:

And oil was at $110 and above.

And we had enough forex flowing in as a result.

And we could afford to let in lots of foriegn investors because they could remit their money home easily (With so much flowing in CBN did not need to do restriction stuff).

By the way....in 1978....N1=$1

Then we were
No 1 in palm oil
No 2 in cocoa
Top5 groundnut producer
Top 5 cotton producer
Top 5 beninseed producer
Top 5 tin and comlumbite producer
Modest exporter of gold. (oh yes!)
Enjoying an oil boom.
Manufacturing things like biscuit, batteries, cars, tyres, etc at home.

If we want to get back there....either we

1.Become productive, which most Nigerians do not like because we like oyinbo and chinese stuff.

2.Allow naira to float...which most Nigerians do not like because we are so fixiated on a strong currency (with nothing to export).

3.Fast and pray that oil goes back to $100 and above (in our dreams).

4.Take a loan to improve power, rail, road and education as a matter of interest. (Hey, South Korea did it in the 1960's).

5.Start buying Nigerian

6.Cut all subsides, and raise taxes, power bills, etc (which most Nigerians do not like because we think that we should pay N10 per liter for fuel, and N100 per semester as university fees).

You want a strong currency.....then work for it. Be prepared for more hardship. Stop waiting for oil. Start producing. Improve your education. Read Field Ruwe everyday.
Yes...all of you asking Buhari to return our currency back to where it was...by the time you realise how tough a road that is going to be...you will keep quiet and beg him to keep pumping dollars. Well...the dollars are not enough.

Time we got some work done.

Rant over.

I marvelled when i read that shit 4-5 years ago.

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