Heffalump:
Naira is still among the worst currencies of the world.
Those beating their chest about Ghana, their currency is still far stronger than Nigerian naira.

How can you compare yourself with a country whose currency exchanges at less than 13 cedi to 1$ and you, who has almost N750 to the dollar? We are not mate to Ghana at all.
Consider political stability, security, social amenities, trade and tourism (Nigerians trooping to Ghana for foreign training like Dubai). Nigeria is still learning and coming from a distance behind.
See the truth and say it. period

One pained Ghanaian spotted,a struggling and crippled Nigeria still competing with ghana,this is your prime as a nation and your country is not still way better than Nigeria shame on you

hkidola00:
are u mad,don't even bring endsars into this...sarz that were killing people at will.. something is wrong with you

And this is somebody's child.

[quote author=voltron14 post=117650646]

You know Nigerians don't like to know the truth.

Nothing hurt me more than when Nigerians were busy forming endSARS just after covid and low oil prices.

Nigerians are a rare breed.

True Nigerians love the truth, only Ibos hate the truth. And that's why they CAN'T even amount to anything in Nigeria .

BIDOO:

You need to be educated! I don't need any clairvoyant to tell me that you say all these out of total ignoramus! Please before you comment on a topic like this, make sure you're well equipped with up-to-date information! People like you will just sit at the comfort of your abode and start typing unwarranted stuff basically to satisfy your ignorance! Permit me to educate you, that cedis is over-valued! Go and do your findings very well of how much cedis was to dollar in 2007! How can a currency jumped over 1000% over the course of 15years? Nigeria is not doing well currently so be it all over the world! Paris citizens staged a public protest yesterday over the rising cost of things! I expect more Africa currencies to fall more due to high inflation in US, the US dollar is becoming stronger because of that inflation! Let me round it up by telling you that Ghana have resulted to using dollars openly and this singular act will do them no good than to crash their economy.

We are talking in terms of exchange rate here: Naira, Cedi, and Dollar. Currently if you compare the naira and dollar exchange vs cedi and dollar exchange, the Ghanaian Cedi ranks higher than the naira. I am aware they revalued their currency in 2007 and that placed their currency on the pedestal of fresh competitiveness among other currencies of the world. It has positive and negative implications, which I don't have time to enumerate here. It also requires some proactive measures to keep it afloat through strong economic plans and policies, else the value erosion could be massive in the long run. Ghana has tried very well to sustain the strength of their currency for a while now. The situation they are facing is generic all over the world. No thanks to the Ukrain-Russia war, coupled with the pandemic era. With the little insight given above, you could vividly understand my position earlier.

You have thus, proven your ignorance and half education on a public forum like this. I made my point without insulting anyone, but you took me to the cleaners. Your education is a waste if you don't know how to coordinate yourself and address issues properly in the public and communicate with civility. You have scammed your parents for wasting their hard earned money on you in the name of school fees. I will aslo advise you submit yourself to the nearest psychiatric hospital for mental health examination, because I could spot some schizophrenic attitude in the fragrant display of unwholesome character.
Nonesense!

babaolofin:


During Obj period, you know Nigeria exports Cocoa in high volumes. Ekiti, Osun, Ondo and part of Edo made big business that time. Many Commercial banks opened branches at Ilesa a rural town in Osun State and many people are wondering why there is competition among banks to open their branches. There was Cocoa boom previous years.

FG placed partial ban on raw cocoa export and gave loans to companies to process cocoa. Oyibo refused to procure processed cocoa maybe about 20% success. This created problems.

Oyibo is the major problem of Africa when it comes to export of processed or packaged items abroad.

You re spot on, they dont want Africa to develop, Ajaokuta steel processing plant is the biggest in Africa yet has never been operational, they are comfortable wit the region becoming underdeveloped, billions given as loans to African govts for infrastructure , what happens? Nothing.

All they want is for our boys and girls to go abroad school there and ultimately become slaves, because even if you make millions over there and cant make impact in your home here with all that money its no good.

Slave trade hasnt ended it just repackaged, yes our people are well paid, live fine, but the discrimination and stigma still stands, they only see this when they re old and cant make money anymore, worst of all all the wealth made over there is not transferable home.

https://georank.org/economy/ghana/nigeria

See the link above and get up to speed ... Don't focus on food or gas price only see the big picture

Food for thought people in Europe cannot afford to pay gas or electricity bill or food as price increase i.e. Germany.... Does that make Nigeria a bigger or better economy than Germany just because petrol and gas and food is cheaper in Nigeria?

Homework for you... Will you refuse a job in Ghana in your field right now if offered with of course all the legal documents to enable you work done for you?

inoki247:



this are correct buh we are talking abt economy here and which currency is stronger not all what you listed....



When we get to that bridge we go talk abt that.....


Buh someone with 2k in Nigeria will survive beta with his 2k than someone with 30 cedis....


What's the price of there fuel, what's there electricity tariff....


We are talking about economy for now is easy to survive in Nigeria than Ghana...


the only currency I can boast of is Cefa which refuse to climb 700 cefa for long now....


imagine using 10 cedis to enter a bike from Ikorodu to Garage to Agric.

That's like 800naira where on norms sef if things no gel u waka am...


we neva even talk about 30cl coke dey sell for 5cedis+ that's like 400naira and we still buy Coke in Nigeria 35cl from 100 to 150 and 50cl like 170 to 200...

toxtimmy:
https://georank.org/economy/ghana/nigeria

See the link above and get up to speed ... Don't focus on food or gas price only see the big picture

Food for thought people in Europe cannot afford to pay gas or electricity bill or food as price increase i.e. Germany.... Does that make Nigeria a bigger or better economy than Germany just because petrol and gas and food is cheaper in Nigeria?

Homework for you... Will you refuse a job in Ghana in your field right now if offered with of course all the legal documents to enable you work done for you?

Lol I will refuse it...


I have Ghana Permit I du renew on my Passport every year so stop thinking I'm someone that just go to Google nd search abt a country.....



Na country wey I dey experience wella...


My friend earn 3000Ghc as Government workers is rent is 1000Ghc monthly if u see the guy life person no fit dey earn like 200k or 250k for Naija mak him life no get small meaning....


So no be me u go tell about Ghana na country wey I dey du business for dere wella nd I know wat I'm saying Nigeria is better than Ghana.....



Go deer first and stop thinking one link is a reality mak u experience the good economy since you believe so much the country is doing well than Nigeria....


Ghana wey go turn Nigeria Millionaire to poor man naw naw wen Bill's and doing dere documentation locate u....


And the europe wey u dey use as yardstick so far we in Nigeria can afford the simple basic amenities nd we still get something at cheap rate den we ar doing better than them....


What's the essence of good economy when the people are suffering they can't pay dere Bill's or afford basic amenities....


A food for thought for you can people in UK, Germany, Europe do sit at home on Monday or go lock dere shops on Monday to go to rally and not affect the life of the citizen....


Ordinary say u no go work for one day in UK, Germany it will tell on ur rent and bills buh in Nigeria we can decide not to go to work nd we go still chop...

You leave Nigeria go ghana for work in your own word... That makes you an economic immigrant... I rest my case.

inoki247:



Lol I will refuse it...


I have Ghana Permit I du renew on my Passport every year so stop thinking I'm someone that just go to Google nd search abt a country.....



Na country wey I dey experience wella...


My friend earn 3000Ghc as Government workers is rent is 1000Ghc monthly if u see the guy life person no fit dey earn like 200k or 250k for Naija mak him life no get small meaning....


So no be me u go tell about Ghana na country wey I dey du business for dere wella nd I know wat I'm saying Nigeria is better than Ghana.....



Go deer first and stop thinking one link is a reality mak u experience the good economy since you believe so much the country is doing well than Nigeria....


Ghana wey go turn Nigeria Millionaire to poor man naw naw wen Bill's and doing dere documentation locate u....


And the europe wey u dey use as yardstick so far we in Nigeria can afford the simple basic amenities nd we still get something at cheap rate den we ar doing better than them....


What's the essence of good economy when the people are suffering they can't pay dere Bill's or afford basic amenities....

toxtimmy:
You leave Nigeria go ghana for work in your own word... That makes you an economic immigrant... I rest my case.

Theyre not doing me any favor cause I pay Tax to dere system no b say na free and all the billing dey gave me for me to be able to do business I paid them in full....

And how many times do I go to the country in a year and I still pay all my taxes in full...

so they're not doing me any favor cause na me come invest in dere country nd still paying tax.....



What I know is if u believe Ghana is better than Nigeria Go Yaba tomorrow and relocate Asap and believe on the link you read on the internet...


Nigeria still treats me better than the Ghana wey u dey cry say he dey help my life cos Naija no dey tax me all the kain Jargons wey Ghana dey tax me...

I just have to pay cause I have no option...

So Ghana no dey du me any favor na me dey du dem favor....

inoki247:
Anytime people say Ghana is better than Nigeria I feel like giving the person a dirty slap.....


As at Today derr petrol is selling at 12.74 almost 900...


And you say Nigeria worst d way dere Dollar dey jump sef I no understand na per minute....

No be rate wey u buy dollar for morning u go buy am for night which kain Inflation be that.....

Wetin still sell for 11.95 this morning right now is selling at 12.47 which kain Inflation b dat...



I believe Africa is cursed with bad leaders na only to dey speak accent dat Ghana president sabi...


At least Nigeria can still lie say na Over population buh what abt all this small countries...

apart from Cefa wey dey du strong head wey no gri crash buh see Cedis na him worst pass right now..

cedi was never even strong,they removed 2/3 zero at d back to make it appear strong

I'm not sure why you are missing the point so I will ask very simply... Did anyone force you to go to Ghana or you took the decision to go to Ghana on ypur pwn for financial reasons?

By the way I was once an economic immigrant and there is nothing to be ashamed of it.... I mean providing food for yourself and family even if na toilet I go clean for Ghana, Guinea and Great Britain there is still nothing wrong about it but a shame on our government (by the way our government no get shame that's why millions of nigerians like you are economic immigrant all over the world including ghana).

inoki247:


Theyre not doing me any favor cause I pay Tax to dere system no b say na free and all the billing dey gave me for me to be able to do business I paid them in full....

And how many times do I go to the country in a year and I still pay all my taxes in full...

so they're not doing me any favor cause na me come invest in dere country nd still paying tax.....



What I know is if u believe Ghana is better than Nigeria Go Yaba tomorrow and relocate Asap and believe on the link you read on the internet...


Nigeria still treats me better than the Ghana wey u dey cry say he dey help my life cos Naija no dey tax me all the kain Jargons wey Ghana dey tax me...

I just have to pay cause I have no option...

So Ghana no dey du me any favor na me dey du dem favor....

dochenaj:
The Cedi is still stronger than Naira, though the degree of devaluation of the Cedi is higher than Naira.

Let me use an analogy. If you are on the 10th floor and you drop to the 6th floor that's 4 floors depreciation. But if you are at 2nd floor and remain there, that is zero depreciation but that doesn't make you better than the person on the 6th floor.

Wrong analogy .

How naira come take pass cedis na?

voltron14:


You know Nigerians don't like to know the truth.

Nothing hurt me more than when Nigerians were busy forming endSARS just after covid and low oil prices.

Nigerians are a rare breed abeg.

Covid-19 and #Endsars protests really dealt with Nigeria economy

agadez007:
Bad news but Good news to us,there is this Ghanaian lady on TikTok whose contents are solely based on comparing the Naira and the Cedis,”if I take this 200 hundred cedis to Nigeria,I will be a billionaire in Nigeria” she says and you see some dumb Nigerians supporting her,foolish people that don’t know the real value of worthless cedis

Well, I guess many Nigerians didn't know that Ghana revalued their currency some years back and made it 1 dollar = 1 cedi . Something Nigeria wanted to do at the time too.
Look at the rate now, worst performing currency

Heffalump:
Naira is still among the worst currencies of the world.
Those beating their chest about Ghana, their currency is still far stronger than Nigerian naira.

How can you compare yourself with a country whose currency exchanges at less than 13 cedi to 1$ and you, who has almost N750 to the dollar? We are not mate to Ghana at all.
Consider political stability, security, social amenities, trade and tourism (Nigerians trooping to Ghana for foreign training like Dubai). Nigeria is still learning and coming from a distance behind.
See the truth and say it. period

U think 13 Cedis is 13 Naira
Let Nigeria remove the two zeros it will be 7.50 Naira .

maasoap:


Covid-19 and #Endsars protests really dealt with Nigeria economy

It saddens me that many Nigerians are oblivious of this.

toxtimmy:
I'm not sure why you are missing the point so I will ask very simply... Did anyone force you to go to Ghana or you took the decision to go to Ghana on ypur pwn for financial reasons?

By the way I was once an economic immigrant and there is nothing to be ashamed of it.... I mean providing food for yourself and family even if na toilet I go clean for Ghana, Guinea and Great Britain there is still nothing wrong about it but a shame on our government (by the way our government no get shame that's why millions of nigerians like you are economic immigrant all over the world including ghana).

Lol how's it a shame on the Government that i went to another country to open a branch of my business in other country..


I went there to expand and enjoy something different we also see Americans coming to Nigeria to invest so what's the fuse...


Na wu go dere go find job u go call economy immigrant I'm doing well at home and I feel like I need more so how's that Nigeria Govt fault...

Do you see beyound your eyes or nose?... Or you want me to draw a picture for you before you understand who you are?

inoki247:



Lol how's it a shame on the Government that i went to another country to open a branch of my business in other country..


I went there to expand and enjoy something different we also see Americans coming to Nigeria to invest so what's the fuse...


Na wu go dere go find job u go call economy immigrant I'm doing well at home and I feel like I need more so how's that Nigeria Govt fault...

Simeonjoe1:


That na Mumu analogy.
The real analogy is Ghana was at the 10th floor but dropped to -1000th floor below ground level. And you at the 2nd floor above ground. Who has more comparative advantage?
Cedis is useless with little purchasing power

Kindly pay a visit to get information. You can also get in touch with Nigerian people, banks, and other businesses over there. Credible statistics as to the purchasing power of the cedis can also be found online.

Why is dollar a reference point? That beats me.

NgeneUkwenu:
Just few months back, Ipob vandals were all over the place, praising Ghana and cursing their country.

Useless bunch of kanu urine drinkers.

Oga are u aware that 1 cedi is 37.7 naira! A whole Nigeria with all the resources and u are here typing rubbish.

Heffalump:


We are talking in terms of exchange rate here: Naira, Cedi, and Dollar. Currently if you compare the naira and dollar exchange vs cedi and dollar exchange, the Ghanaian Cedi ranks higher than the naira. I am aware they revalued their currency in 2007 and that placed their currency on the pedestal of fresh competitiveness among other currencies of the world. It has positive and negative implications, which I don't have time to enumerate here. It also requires some proactive measures to keep it afloat through strong economic plans and policies, else the value erosion could be massive in the long run. Ghana has tried very well to sustain the strength of their currency for a while now. The situation they are facing is generic all over the world. No thanks to the Ukrain-Russia war, coupled with the pandemic era. With the little insight given above, you could vividly understand my position earlier.

You have thus, proven your ignorance and half education on a public forum like this. I made my point without insulting anyone, but you took me to the cleaners. Your education is a waste if you don't know how to coordinate yourself and address issues properly in the public and communicate with civility. You have scammed your parents for wasting their hard earned money on you in the name school fees. I will aslo advise you submit yourself to the nearest psychiatric hospital for mental health examination, because I could spot some schizophrenic attitude in the fragrant display of unwholesome character.
Nonesense!

You're such a deluded idiot, I've to read the rubbish you wrote up there over and over again and guess what I couldn't fathom out any meaningful thing, it was so full of tantrum which actually derailed the discussion lines!

Just go through the topic again and see how clueless you're in the course of defending your inconsequential reasoning!

Even it was stated clearly in this news that cedis is the worst performing currency against the dollar at the moment and you've the audacity to spewing this rubbish!

You are such a slow poke, you've little or no idea about foreign exchange and here you're talking through your anus!

Go and do some findings about the foreign reserve of Ghana and come back here so that I can educate you more.

brandsoncharlie:

U think 13 Cedis is 13 Naira
Let Nigeria remove the two zeros it will be 7.50 Naira .

They actually removed 4 zeros actually.

agadez007:
Bad news but Good news to us,there is this Ghanaian lady on TikTok whose contents are solely based on comparing the Naira and the Cedis,”if I take this 200 hundred cedis to Nigeria,I will be a billionaire in Nigeria” she says and you see some dumb Nigerians supporting her,foolish people that don’t know the real value of worthless cedis

meanwhile 1ghana cedi is over 32 naira so who is fooling who

greatness77:
meanwhile 1ghana cedi is over 32 naira so who is fooling who

not my fault,you don’t know simple economics,so you didn’t see all the free lectures on this thread

adedayoa2:
maybe he was quite young when Ghana redominated their currency.

I was quite young when it happened.
I actually know a lot that's happening in Nigeria and all over the world than most of my seniors around me.

That's cos I read alot.

That is good news for Ghanians living in The US and UK.

They can change the name of their currency, cowrie is not a currency.


Ghana is still better than nigeria.

Heffalump:


We are talking in terms of exchange rate here: Naira, Cedi, and Dollar. Currently if you compare the naira and dollar exchange vs cedi and dollar exchange, the Ghanaian Cedi ranks higher than the naira. I am aware they revalued their currency in 2007 and that placed their currency on the pedestal of fresh competitiveness among other currencies of the world. It has positive and negative implications, which I don't have time to enumerate here. It also requires some proactive measures to keep it afloat through strong economic plans and policies, else the value erosion could be massive in the long run. Ghana has tried very well to sustain the strength of their currency for a while now. The situation they are facing is generic all over the world. No thanks to the Ukrain-Russia war, coupled with the pandemic era. With the little insight given above, you could vividly understand my position earlier.

You have thus, proven your ignorance and half education on a public forum like this. I made my point without insulting anyone, but you took me to the cleaners. Your education is a waste if you don't know how to coordinate yourself and address issues properly in the public and communicate with civility. You have scammed your parents for wasting their hard earned money on you in the name school fees. I will aslo advise you submit yourself to the nearest psychiatric hospital for mental health examination, because I could spot some schizophrenic attitude in the fragrant display of unwholesome character.
Nonesense!

You tried with your analysis of Ghana's currency, but I disagree with your submission on the better currency. Before redenomination, 1$ was about 9,500 Ghana cedis. This implies that at the time of introducing the new cedis (re-denominated), 1$ was about 0.95 re-denominated Cedis. As at August, 2022, it is now 10 re-denominated Cedis to 1$. That means that Ghana Cedis lost 10 times its value between 2007 and 2022. That's about 1000%. Compared to Nigeria, around 2007, 1$ was about N130. In 2022, let's say N700. That is about 51/2 times loss in value. Both currencies have lost a lot of value but Naira is still stronger. If you had saved your money in Naira and Cedis at the same time, your Cedis' balance would be worse. Although, Nigeria's economic indices might be responsible rather than the management acumen of our leaders.

NgeneUkwenu:
Just few months back, Ipob vandals were all over the place, praising Ghana and cursing their country.

Useless bunch of kanu urine drinkers.

toxtimmy:
Do you see beyound your eyes or nose?... Or you want me to draw a picture for you before you understand who you are?

So mtn in Ghana means they're economic immigrant? Very funny guy.
The worst part is that they have eliminated unemployment and hunger from the hungry Ghanaian people, paying taxes to the government for revenue.

loko50:
You are wrong. The Naira has always been stronger than the cedis. Four zeros were removed from the cedis 2 decades ago. Back then, a loaf of bread sells for almost 10000 Cedi. So what you have been seeing with the Ghanian economy is a mirage.

The post was not about the old Cedi, but the current Cedi.