You need to learn economics. The low value of the Naira as contrasted to other currencies is only relevant if you're buying things from abroad as you are which is known as import. For the economy of Nigeria itself it matters how much purchasing power it has. If 1 Libyan dinar is worth 262 Naira but you can buy bread for 100 Naira in Nigeria but it costs 2 dinars in Libya, then Nigeria has more purchasing power.

Additionally Nigeria is an export heavy country with oil revenue being a major source of the country's revenue. As such a weak currency helps the country because it can sell more oil and get more money. In general a strong currency favors imports and a weak currency favors exports. For developed strong economies a stronger currency is beneficial but for growing economies, especially export oriented ones like Nigeria, a weak currency is beneficial. A weak currency discourages imports like your fashion items and encourages exports.

Zenithpeak:

I wanted to do an online transaction with an online fashion brand abroad. Of course, I always make sure I check the exchange rate before I place an order, to know how much I would be spending in naira.

As usual, after calculating the exchange rate, what I wanted to get was on the high side. I just became humble and cancelled the transaction.

I started thinking if the disparity between dollar and naira is so insane, what will be the exchange rate of the naira to the currencies of other African countries. I picked 25 random African countries and compared their currencies with the naira.

Before I started my findings, I felt only a few African countries could have stronger currencies than the naira but boy I was shocked and ashamed with what I came up with.

Check out the latest exchange rate of the Nigerian naira compared to some random African countries' currencies.

1. South Africa - 1 Rand = 26.28 Naira

2. Ethiopia - 1 Birr = 13.30 Naira

3. Ghana - 1 Cedi = 81.96 Naira

4. Gambia - 1 Dalasi = 7.60 Naira

5. Kenya - 1 Shilling = 3.48 Naira

6. Liberia - 1 Dinar = 3.05 Naira

7. Swaziland - 1 Lilangeni = 26.55 Naira

8. Tunisia - 1 Dinar = 145.90 Naira

9. Zambia - 1 kwacha = 36.7 Naira

10. Angola - 1 kwanza = 2.17 Naira

11. Lesotho - 1 Loti = 26.55 Naira

12. Libya - 1 Dinar = 262.77 Naira

13. Morrocco - 1 Dirham = 38.32 Naira

14. Madagascar - 1 Ariary = 0.12 Naira

15. Mauritius - 1 Rupee = 10.5 Naira

16. Malawi - 1 kwacha = 0.50 Naira

17. Mozambique - 1 Metical = 5.8Naira

18. Namibia - 1 Dollar = 26.55 Naira

19. Seychelles - 1 Rupee = 26.38 Naira

20. Sudan - 1 pound = 53.89 Naira

21. Botswana - 1 Pula = 34.60 Naira

22. Cape Verde - 1 Escudo = 3.82 Naira

23. Algeria - 1 Dinar = 3.18 Naira

24. Egypt - 1 Pound = 20.45 Naira

25. Eritrea - 1 Nakata = 23.52 Naira

The currencies of some worse economies in Africa have better value than the naira.

So the question is - Do you think Nigeria's naira is the weakest currency in Africa and the world at large and what is the way forward to strengthen the naira.

Share your thoughts and comments

https://amp.pulse.ng/lifestyle/money/the-disparity-between-naira-and-other-african-currency-id7448703.html

Ugosample:


A lot died.

But that figure of 22 million is exaggerated.

I don't remember where I read it but it had said 22 million. Do you have any idea what the real number could be ?

The property is beautiful but is built with the blood of 22 million dead Congolese. 22 million men, women and children that were killed to satisfy the greed of one evil bastard who hopefully is in the deepest recesses of Hell. I would never buy such a home. If I were given it free I would sell it and donate the money to the people of the Congo. This is a tainted house, an evil house.

TeamSimple:
And that is the teaching of the prophet .. Uphold your religion with your last breath but allow other religions to thrive . Trade with them , live with them , eat with them but uphold your religion. That is what UAE stands for .. Not all these mentally impaired 'Muslims' blowing up people and not even considering if Muslims would be casualties .

Yes exactly! There is no compulsion in Religion

Look it isn't your fault so don't feel guilty. She told you she's single, she didn't wear her ring and she basically used you and lied to you for sex. She's the one at fault you're not at fault. 0% is your fault so don't be guilty. Ignore the people saying you should have done a background check. Who checks marriage license registry before the bleep a girl?

To those comparing Nigeria to the UAE, Nigeria has 186 million people. The UAE has 1.2 million. The UAE has one ethnic group (while it did exist as distinct emirates the people were the same) while Nigeria has a ton of tribes, ethnic groups languages etc. The UAE is a small country and only two of its 7 emirates are well developed. The rest are small and are more traditional with small houses and not many facilities. Not those shiny buildings you see in Dubai and Abu Dhabi. That being said, Yes! The UAE had had excellent leaders who've diversified from Oil early on, had excellent strategies, created a great banking and tourism sector and who build amazing roads connecting the country. Nigeria does suffer from bad leadership who have gobbled up the countries resources and have been massively corrupt bleeding the country where so much good could have been done. However, it isn't fair to outright compare the countries. Nigeria has Abuja, it has Lagos, it isn't hopeless. It also has incredible diversity and natural beauty and Nigerians are a kind hospitable people. This country too can become great. We just have to believe in the country, work hard and use our votes to make a difference and elect good leaders rather than voting based on their religion or tribe.

Egein:
The UAE is an Emirate, not a democracy. It is a monarchical federation that's primarily Islamic. It's also one of the world's least corrupt, and most innovative countries. These say a lot. It says that democracy isn't necessarily the the best system of governance. It says that monarchies, and countries with a theocratic coloration (especially Islamic), can be great and exemplary.

It doesn't matter whether your government is a theocracy, a monarchy, a socialist, a communist; what matters is the good man. The Good Man is the best system of governance.

God bless the UAE, and her people.

See the problem with that line of thinking is that there's firstly the UAE isn't very Islamic. Sure it's a muslim country but it's very tolerant and allows other religions to practice freely which is one of the reasons for its great success. If it had been Islamist like Afghanistan or Pakistan it would have not attracted non muslim talent and innovation and neither would it have been such an attractive place to live. While they value and uphold islamic culture they also allow other cultures to freely flourish and practice.

They do spend a lot on innovation and science but that is In contrast to a lot of islamic countries. Most spend very little of their gdp on science and research ( http://www.meforum.org/306/why-does-the-muslim-world-lag-in-science) the UAE is the exception, not the norm. That is why secular or at least tolerant governments are ideal.

I agree with you, Democracy isn't perfect but it is the best current system we have. Monarchies can be great like in the UAE but they can also be awful such as in parts of Africa, Asia etc. With a monarchy if you've got a great king you're lucky and your country will progress but if you've got a bad one you're gonna be in for a very bad time. Same thing with democracy and having a good or bad leader. However, in a democracy if the leader is bad you can vote them out or change them at the end of their term. That is not possible in a monarchy. The reason for the UAE's success is not it's monarchial nature but rather excellent, forward thinking moderate leaders with a penchant for being action oriented.

victorioushands:
While the government does everything to avoid abuse in marriages, it should also consider subsidizing or making free and compulsory DNA testing of children immediately after birth. It will destroy the hand of satan in marriages. Come to think of it, if it were women of gender equality, they would have shouted everybody down until the bill is passed. But, sadly, they are the only culprit. And I don't know why some of these human rights have not stood for this? This is one of the best ways to reset marriages. So many undocumented illegitimate children have destroyed the homes of innocent fathers. And many of them trouble the society.

Dna testing is extremely expensive. It costs 100,000 Naira. At 5.9 million annual births, it would cost the country 590 billion Naira. Probably not the best thing to spend money on.

Believing in conspiracy theories about how the west hates muslims doesn't help anyone. Especially not fellow muslims. The word extremist, terrorist etc isn't used to refer to muslims who pray often or cover up. The word conservative is used for them. The words extremist or terrorists are used for those that commit violent acts aimed at causing as much damage as possible in order to achieve their goal whether that be recognition or something else. The west does not hate muslims or islam. If you think that then why did the west give shelter to millions of Syrian refugees ? You must realize that there exist people who call themselves muslims but kill people and do horrible things. These are the ones who are called terrorists or extremists. Not those that pray often or cover up.

Osama bin laden was always considered a terrorist. Even Saudi threw him out of the country and cancelled his citizenship. Yet idiots and yes I do mean absolute brain dead idiots continue to support him. He killed hundreds of thousands of muslims through al queda. Al queda inspired isis which killed thousands of Iraqi and Syrian muslims. He caused 9/11 which caused the deaths of 3000 innocent people including many muslims. If you call Osama a hero then you clearly just hate the west. You aren't thinking rationally. Islam is perfect but muslims are not always perfect. There are evil muslims and that is why the concept of Takfir even exists. Even in the ancient past often caliphs fought and killed other caliphs. There were muslims killing muslims for land and property. The west did not do anything to cause that. When the west says moderate muslims they usually mean those that practice islam without being ultra conservative (For instance wearing the niqab which is not mentioned in the quran or the hadith's but comes from culture). And those that allow other people to live their lives without imposing on them. These exist terrorists and extremists such a Osama or Bagdadi who kill innocent people. Something that is 100% against the teachings of the quran. By glorifying these people and claiming that the west is falsley labelling these "freedom fighters" you are yourself a bad muslim.

The Afghani government and people hate Osama and the Taliban for what they did. The people of iraq hate the al queda for all the harm they caused them and they hate Isis. They ask the west for help. They fight alongside the west. Read the news. These people kill hundreds in terrorism attacks. Hundreds of innocents and hundreds of muslims. As Africans we have no right to claim someone is a hero when the people they hurt clearly don't think so. When the countries in which that "hero" operates themselves claim he is a terrorist.

You say that the west uses words such as extremists and terrorists to mislead muslims. Do you think muslims are dumb? That they're stupid to so easily be led astray and brainwashed ? No! the simple fact is that there do exist people who do horribly evil things in the name of Islam and that these people are extremists and terrorists. Moderate muslims are those that live without doing such things and don't force their beliefs on others. It's as simple as that.

In the end, if you hate the west so much why do you people scramble to go live there ?

Welcome to Islam and congratulations on your reversion. However, your reasons for reverting, for wanting a husband and for your sickness are wrong. You should revert because you find true spiritual bliss and a call to god as you did after your reversion. There are plenty of people who never find a husband or wife or who fall sick and die in Christian and Muslim countries. Belonging to either religion won't prevent that since death comes for us all in the end. Rather than help spread unity and peace among the religions all you did through your post was antagonize the christians who then antagonized the muslims leading to rhe perpetuity of this cycle of hate. Both the Quran and the Bible preach love for one another and for those that do not belong to the religion.

Also your story on Iran is false, Islam does not require lies to help it. I know several christians who have visited Iran and nothing has happened to them. In fact there have been 0 cases of Christians falling sick and dying when visiting Iran. Iran isn't even that religious a place. Plenty of non muslims exist in Iran. Saudi is far more religious and even in Saudi there are many non muslims.

Aldebaran:

O.k
I understand and I know all Muslim women are not saints
But they are still the best

Hahaha yes

In my opinion the best solution for Nigeria's government would be to have a parliamentary system where each district elects leaders who then choose the heads from among them making for a council of ministers that represent each ethnic group. They can then vote on decisions regarding the entire country while also advocating the interests of the group they serve so no group feels left out. It's definitely smarter to do that than to have constant rotation and to have Christians and Muslims constantly hating on each other. Either that or split the country and let it go back to how it was before 1912.

Aldebaran:
I doubt it

Muslim women can't be dis naughty

She may be an Arab christ10

Or Americans trying to ridicule islam

Definitely,this is from the idol/man/wood/image worshippers

Thank ALLAH For making me a MUSLIM

You do realize there are muslims who deviate from the norm too right ? There are muslims who are hoes who have premarital sex etc. Of course, less than other religions and less than Christians but they do exist. It doesn't have to be a conspiracy. Although I agree this thread seems to be about poking fun at muslims.

I read the title as beer pepper soup and was like ._.

crispus09:

islam and lies ehn dey re inseperable,bunch of terrorist

Nah man, there are muslim terrorists but there's tons of peaceful muslims too. Much more peaceful muslims than there are terrorists.

An honest question to the Somali lurkers here. Why do you hate other Africans? I saw a Somali thread from way back that spoke about how Somalis have nothing in common religiously/ culturally to black people. That is doing a disservice to the hundreds of millions of West African Muslims that are black. You say Somalis look different from other black people and they do. While most Somalis are dark skinned you have different facial features and hair to other Africans (Mainly because of massive migrations from Yemen.) However, non Somali/Ethiopian Africans have their own beauty. Saying their features are ugly is akin to white people saying Black skin is ugly. You say Somalians were not Enslaved but neither were several black countries in the East and South. The majority of slaves were taken from West Africa. The majority of soldiers that were taken to Europe fight world war 1 and 2 were from North Africa. Somalis may not have been enslaved but so many are refugees surviving due to the kindness of foreign lands. As for Slavery and Soldiers ? It was just what was more convinenient due to proximity. Somalia was colonized though. Just like most of Africa. You Say other Africans have so many issues but so does Somalia.

All in all I don't hate Somalis and I don't get why so many hate on other Africans. Like it or not you're stuck in Africa and all Africans have to work together regardless of race, religion or country in order to uplift the continent.

nurshah:



YOU REGISTERED TODAY AND THE FIRST COMMENT YOU MADE WERE ON MY POSTS,IS THERE SOMETHING WE ARE MISSING ?...THERE IS NO SUCH THING AS COINCIDENCE DEAR ...No matter your claim.on not having anything against Islam,its obvious..no matter your attempt to get on forum by vehemently denying what is the truth nothing is hidden from us.

AM DONE WITH YOU ..GO WITH YOUR MOTIVE

I've lurked on Nairaland for ages. Your post was so stupid I just had to register and correct you. It isn't a coincidence. However, I honestly don't have anything against Islam. I know that a majority of the bad things portrayed about muslims is false. However your "facts" were completely fake so I had to correct them. For instance I know that the politicians were warned many times about boko haram increasing radicalization by muslim governers but the warnings were ignored. I also know that terrorism has nothing to do with Islam. However, you insult Christianity while stating false facts about Islam. Christianity does have problems, a lot of them but just like Islam those problems are due to the actions of Christians not because of the religion itself.

You speak of truth yet spout complete lies. All of what I have said can be verified. None of what you have said can be. Clearly you are the liar here.

nurshah:




I won't even dignify your ignorance by responding.. I didn't go beyond your first paragraph ...how ever Pompeii was ridden with homosexuality,rape,men killing each other as a form of sport ,gladiators I believe is what they were called. Pompeii was a place for the wealthy ..this is where I stop and allow you to go and educate your low I.q


Also make thorough research on free mason they were monks,quote me anywhere...but I don't expect you to know neither will I waste further time to educate you

What ever you believe,believe that's your two cents am not gonna stoop to your level of ignorance.

Have a blessed life

Pompeii had homosexuality, rape and gladiators but that was all of Rome. Even the middle East in that Era had issues like female infanticide and massive wars. In the 1970s there was a massive earthquake in Saudi that killed thousands of people. This was in Saudi Arabia. The earthquake actually killed more people than those that died in Pompeii. So you cannot justify Pompeii as being destroyed by god.

I don't know much about the free Masons but I never spoke about them so why bring them up?

Read beyond the first paragraph and you'll see that none of what I say is false. How can you say I'm ignorant when you're too lazy to even read or check facts ? You're simply blinded by your hatred of Christians.

nurshah:



What nations were destroyed for homosexuality and indiscriminate practice of illicit sex? I can give you two go check on luth and Pompeii ..what countries are on the list of highest homosexuality ,rapes ,bestiality ? India ,america; these are just two examples

What countries kill women due to hate? Honduras...I can give other examples

So ..which of these are Islamic nations?

I can go on and on ..so if Islam as you allege centres on sex ,can you please point the after effect of it ?

You and I both know that Muslim women are by far the most decent ..yes we have our weak ones as we are all human beings but that is why repentance and forgiveness are favour and promises of Allah to us

Since no other religions centres on sex,how far is their morality rate ?

The so called holy Israel go read on netanyahu affairs ..what of the unbelievable gay bishops et all? Rape of boys by catholic priests leading to a massive drop in catholics going to church especially in America ( go do your research)

CHRISTIANS ARE FAST ON FORGETTING THEIR CRUSADES AND WHAT WENT ON ..THEY AR FAST IN FORGETTING THAT THE MOST DEVILISH CULT EVER TO EXIST AFTER DEVIL EMANATED FROM CHRISTIANITY ( FREE MASON AKA Illuminati)

Okay there is nothing wrong with Islam or this thread and I am against Christians trying to derail this thread but your post is just ridiculous.

Pompeii was not destroyed for homosexuality or illicit sex but cause of a volcanic explosion. Nowhere in the Quran is there mention of Pompeii please don't make things up.

The highest rates of Beastiality are in Afghanistan where sex with goats is culturally ingrained. The highest rates of rape and sexual assault are in Egypt where 99% of women report having undergone sexual harassment

The country with the worst treatment of women was found to be Yemen and Pakistan

The countries that are in the worst situation right now are all Midde eastern and West African countries.

Catholic priests do rape young boys but so many imams have been found that sexually assault young girls. It is something that neither religion Islam or Christianity support

You can't ask other people to go research if what you present is lies while statistics and facts say something different. Islam is peaceful and the majority of Muslims are good but so is Christianity and all other religions. If you hate on other people's beliefs then you cannot expect them to respect Islam.