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Nairaland Forum / Nairaland / General / Politics / Nigerian Naira Vs GHANAIAN CEDI Strength (9732 Views)
This Is Hilarious......naira Vs Dollar / Not All That Glitters Is Gold: Naira Vs. Dollar, Which Is Stronger? I Take Naira / Which Currency Is Preferable? Naira Or Cedi (2) (3) (4)
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Re: Nigerian Naira Vs GHANAIAN CEDI Strength by coolcharm(m): 9:16am On Jun 09, 2021 |
IamFINESSE: LoL, read the thread again, understand what currency redenomination is, only then can we have a meaningful conversation. 5 Likes 1 Share |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nobody: 9:19am On Jun 09, 2021 |
gonkin:Have you been to Ghana before? Things are more expensive in Ghana than Nigeria o. |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nobody: 9:23am On Jun 09, 2021 |
budaatum:I love your explanation. I've been to Ghana before, and things is more expensive in Ghana than Nigeria. 6 Likes 1 Share |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nukilia: 9:26am On Jun 09, 2021 |
seunmsg: Can you please stop this unintelligent analysis you are displaying here? Do you know what 40K CEDI's is? We are talking of actual value of a currency and you are here deceiving yourself with your wuruwurunomics |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nobody: 9:29am On Jun 09, 2021 |
seunmsg:Will the dangote refinery truly be ready next year? It will really help in taking lots of pressure off the Naira. |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nukilia: 9:31am On Jun 09, 2021 |
nigerianrevolut: A southern protectorate unified currency will definitely worth more than a Northern protectorate currency... Almajiri is a brain disease |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nukilia: 9:32am On Jun 09, 2021 |
coolcharm: One of the most unintelligent comments I have seen in a long time Go and add the zeros yourself in the international market... |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nukilia: 9:34am On Jun 09, 2021 |
DubaiLandLord: This is a shameful comment! Why is the NNPC not doing same for the country? |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by ruggedtimi(m): 9:45am On Jun 09, 2021 |
coolcharm:4 cedi can only buy you coke and small sized bread....N400 can buy you N300 medium sized bread and N100 coke |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by LordIsaac(m): 9:47am On Jun 09, 2021 |
For the first time, someone here explained basic economics in simple terms. What's the essence of our learning if we can't explain it to lay men in the language they can understand? It shows the fellow has a good grasp of what he knows. Thanks bro. 6 Likes 1 Share |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nobody: 9:48am On Jun 09, 2021 |
Nukilia: Nigeria is not a communist state. A lot of responsibility the government put on itself is needless and the reason you're making this comment. The government in a democratic settings should not owe us a refinery. 4 Likes 1 Share |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Kinematics: 9:59am On Jun 09, 2021 |
IamFINESSE: Sheer lack of understanding is disturbing you. How can you compare 4 cedi to 4 naira? Did Nigeria redenominate her currency? Read mature comments here and stop spewing ignorance. 4 Likes
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Re: Nigerian Naira Vs GHANAIAN CEDI Strength by coolcharm(m): 10:04am On Jun 09, 2021 |
Nukilia: It won't be long till you understand what you are ignorant of. 1 Like |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Kinematics: 10:05am On Jun 09, 2021 |
Nukilia: You are the one deceiving yourself. |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by gonkin(m): 10:12am On Jun 09, 2021 |
SIRAO: Your affront response will neither add nor remove money from my pocket. It just shows how lame brained u are. I asked for public views and opinions sharing light onto a subject. I'm grateful no one shares fatuity like you're doing. If u wanna say something useful say it. Cuz your entire contribution is as ignoramus as u are. I know am already, no mean say i no fit still learn. I'M NOT ASHAMED TO LEARN FROM OTHERS 5 Likes |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nobody: 10:30am On Jun 09, 2021 |
Nukilia:Have I ever tell you am working in NNPC? Abeg no dey ask me foolish question. |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by chrisooblog: 10:37am On Jun 09, 2021 |
Yes, in theory it should because the money we make from the little crude oil we sell we blow on importing petrol, diesel, kerosene and subsidizing these products. Plus we import so many things which ordinarily we should be producing here to save forex. Oil imports I think account for about 70% of what we use our FX for. So in that regard the Dangote refinery would really be a big game changer not just in terms of FX saved but also in terms of providing an avenue to also earn FX because Nigeria will now be able to sell refined products overseas. To improve the value of the naira like seunmsg rightly said we need to be productive. Sort out Ajaokuta so we can reduce having to import steel. Boost our farming productivity so we don't have to be importing maize, palmoil, tomato puree. So many things can be sorted out but it's the political will that will get most of these things resolved. gonkin: 1 Like 1 Share |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by gonkin(m): 10:55am On Jun 09, 2021 |
chrisooblog: So its importation. But the land border was closed for a year to reduce smuggling and that didn't really change much, it only raised the cost of items. As for Petroleum product importation, it's really annoying. Cuz it won't really cost the FG much to put existing ones in order. Waiting on dangote (he has constantly proposed completion of the refinery but still slow). So in all of Nigeria isnt there any other refinery other than dangote? |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by chrisooblog: 11:22am On Jun 09, 2021 |
Importation in itself is not a bad thing cos we live n a global village where countries buy and sell. For Nigeria we stupidly import what we can ordinarily produce which should ordinarily employ our people and earn us FX. Like you rightly noted Nigeria ought to have had working refineries now that can meet our domestic need but from the time of Babangida till now no government has been able to take the bull by the horn so we keep siddon looking. What even makes our situation more annoying and pathetic is that we had the money to do it but some how we just kept twiddling our thumbs until we got to this state. Even if the refineries were working at full capacity today they still produce far below the country's domestic need. Dangote has pumped so much into the project so it's in his interest to get it finished soon. Plus you need to appreciate the scale of the project. Dangote is building one of the biggest refineries in the whole world. Something that ordinarily governments should be embarking on one man is handling so deserves and needs every support and encouragement. Apart from the NNPC refineries that are currently comatose there are a few modular refineries here and there but I think it's mostly diesel they produce besides that the capacity is quite small for a country like Nigeria. gonkin: 1 Like 1 Share |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by seunsiju(m): 12:20pm On Jun 09, 2021 |
I'm currently living in Accra.....cedi got no strength. ....it's just a redenomination.....nothing else 3 Likes 1 Share |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by seunsiju(m): 12:26pm On Jun 09, 2021 |
Iriruaga100:Quite true tho... Cedi is so weak inside Ghana but so strong outside Ghana .... Last month I change two thousand Naira to 20 Cedis at Aflao Border .....Togo..... End of discussion |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by udomonday: 12:34pm On Jun 09, 2021 |
Nigeria should be forcefully taken over and recolonized. Its obvious the leaders and even the followers have lost it. |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by budaatum: 1:07pm On Jun 09, 2021 |
Sipsum:Don't mind us. We are stupidly doing ourselves but irresponsibly stupidly we blame everything and everyone else for our own stupidity of doing ourselves except our own stupid selves who is stupidly doing ourselves. But I can not put "our people matter for one side". I have time for "our people because "our people" is me, buda. And when I, buda, is tired of my suffering, then will I, buda, begin to use the brain inside my stupid head to cure my stupidity. |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by budaatum: 1:11pm On Jun 09, 2021 |
gonkin: Yes, that's one way, and from this one might begin to understand why government will support Dangote. But of course he is not doing it for your benefit, so expect fuel price to increase to make it worth his s while. UK price of petrol is approximately £1.20 a litre.
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Re: Nigerian Naira Vs GHANAIAN CEDI Strength by budaatum: 1:18pm On Jun 09, 2021 |
Nukilia: You see what I mean, Sipsum? We are stupidly doing ourselves but irresponsibly stupidly we blame everything and everyone else for our own stupidity of doing ourselves except our own stupid selves who is stupidly doing ourselves. |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by budaatum: 1:25pm On Jun 09, 2021 |
gonkin: I think you should go and ask the farmer if the increase in price he earned for the sweat of his brow changed anything for the farmer or not instead of assuming it didn't, because I can tell you that that 'item' in "only raised the cost of items", was an increase in price of the sweat of the brow of the farmer! |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by budaatum: 1:38pm On Jun 09, 2021 |
udomonday: So you want to be a slave? Don't you think you ought to be able to produce profit for your owner to be worth anything even as a slave? Or you think your buyer would feed you while you sit on your ass producing nothing? Would you keep a donkey that does not pay for its upkeep at least? And before you start arguing that colonization is not slavery, perhaps ask why Britain decolonized and dumped your unprofitable ass! |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nobody: 2:04pm On Jun 09, 2021 |
gonkin: You might not like his response but he is telling you the truth. With all due respect, you are an economic illiterate. Ghana redenominated her currency, i.e took away a few decimal places, so the currency would become less unwieldy so that paying for even a few dozen tin milk would not involve millions of cedi as was the case before Redenominating of the Cedi. If I had a kobo for every Nigerian who has made this simplistic argument you make, simply to disparage Nigeria and praise Ghana or others, then I would at least have perhaps 20k Naira now. The value of the Cedi did not increase with redinomation to make it more valuable than Naira. Nigeria too can redenominate the naira today to make 500 Naira 5 naira. Perhaps the simplistic comparison of the new redinominated 5 Naira will show you it remains a more value-inherent currency than 5 cedis. 1 Like 2 Shares |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by PetroDolla2020: 2:12pm On Jun 09, 2021 |
have you been to Norway before? Things are prohibitively expensive in Norway than in most parts of the world. Yet Norway is considered one of the world's richest countries in the world. Prices alone is not yardstick for measuring anything. okay, because a bottle of water is more expensive in the UK than Nigeria, does it make Nigeria better than the UK? DubaiLandLord: 1 Like |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by PetroDolla2020: 2:15pm On Jun 09, 2021 |
any time you happen to be in Ghana and want to change your naira into cedis, tell the money changer that Ghana removed four zeros from its currency and so he should add the 4 zeros to the money he is paying you OneTemplate: 1 Like |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by Nobody: 2:15pm On Jun 09, 2021 |
seunsiju: Don't mind these illiterate and self-hating Nigerians. To disabuse all the many self-haters of their disgraceful illiteracy and ignorance I will use a simply example. 1 cedi is equal to 71 Naira today. 2 Cedis would be equal to 142 Naira today and 3 Cedis would be equal to 213 Naira today. Yet Maltina or any other malt drink is 150 Naira,(just over 2 cedis) right now at Shoprite Nigeria whereas it is like 4 Cedis or more at Shoprite or Melcom in Accra. Almost double its cost in Nigeria!!! This applies to most things also be it foodstuff or electronics. So which currency can buy more and is thus more valuable? Over to you self-hating olodos. Spend more time developing your intellect and knowledge instead of hating blindly and uselessly. Doing the latter adds absolutely zilch to your lives. |
Re: Nigerian Naira Vs GHANAIAN CEDI Strength by caprini1: 2:19pm On Jun 09, 2021 |
coolcharm:You just summarised it completely....people that haven't travelled out of their bedroom are always economic specialist. 400 naira can get you a meal of rice ,plantain ,meat and pure water in Nigeria,but 4 cedi can only get you one good fried titus fish head in ghana. |
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