A currency’s value is what is can fetch those who use it as a means of exchange!
Those in America use dollars and those in the UK use pounds sterling. Emiratis use Dirhams and Indians Rupees. Nigerians therefore use the Naira.
The Naira today, is equivalent to 600 units to the GB£ and 500 units to the US$.
Though we are quick to lampoon the Naira as worthless, but let us compare how much value each of these currencies equivalents fetch their owners/holders, within their borders?
In the US, a dollar ($) may not buy you more than a small bottle of water, while N500 will buy you a pack of 12 of the same bottles of water in Nigeria!
A pound (GB£) may not buy you even a small loaf of bread in London, but in Lagos, N600 will buy you and your partner, breakfast for 2, consisting of one N250 big loaf of bread, 4 fried eggs and 2 bottles of water!
Days ago, I bought 50 pcs of medium size oranges from the Ketu fruit market for N1,000, that’s just $2! I bought 3 pineapples for N500 ($1)!
A litre of fuel costs N160 in Lagos, but cost $0.86 (N430) in New York! While I know people who pay cad1,700 (N500,000) per month for their glorified room and parlour self-contained in Ottawa, that is what a friend pays in 6 months, for a 2 bedroom apartment, with separate toilet, bathroom and proper kitchen, in Dolphin Estate, Ikoyi!
So why do Nigerians make so much noise over the value of their currency, when it still fetches them more value than the other currencies that they pitch the Naira against? The answer is simple: the “values” of Nigerians!
While Nigerians reacted with consternation at Dino Melaye’s obnoxious display of his stolen wealth, the average Nigerian behaves exactly like Dino Melaye! From the man on the streets to the Churchpreneurs who claim to represent God!
They produce nothing, but want to flaunt everything!
Someone lamented to me about his wife’s tenant, who has failed to pay N120,000 rent, for nearly a year, but slaughtered a ram and made festivities, worth N150,000, during the last Moslem “Ileya” festival!
Ask me what the idiot produces? Zilch!
Had this same debtor taken the N150,000, wasted on the one day feasting to the market, it will be more than enough to set up a fried Yam, sweet potatoes, Akara business, that can net him N300,000 monthly, and take him out of poverty and debt forever!
So, because Nigerians are unproductive at home, but consume from used clothes, to fake hair and eye lashes, to even PMS, from the abroad, they keep whining about the value of the dollar/pound-sterling against their currency.
There are universities in Nigeria, and I had my education entirely in Nigeria! So, if I chose to send my children abroad, what is the headache of the government in my personal decision, should the currency in their country of choice prove unaffordable to me? Who send me?
My personal definition of the problem with Nigeria is that, the policies of the State are manipulated to suit the indulgences of certain classes of Nigerians, who feed fat on the miseries of the masses.
Government resorted to importing fuel because some privileged Nigerians criminally destroyed our refining capacities. Rather than punish them, we put the punishment on Nigerians.
Government “subsidized” the same imported fuel, to create artificial opportunities for some privileged people to loot our treasury, under the artificially created system of “subsidies”.
These Nigerians and their fraudulent economists should stop fooling themselves about the poor exchange rates of the nation’s currency. 95% of the citizens of this country need food, water, Medicare, etc, obtainable in Naira!
If some useless, lecherous and unproductive, yet entitled, vanity flaunting elements like Dino Melaye, need foreign currencies to feed their insanity, what has that got to do with Nigeria?
If you want to indulge in the zero nutrition Orange, imported from wherever and sold at times ten that of super tasting Oranges from Benue, must Nigeria care about your price plight? Who send you?
If you chose Pizza over Aboki freshly cooked spicy bread and eggs, please find enough Naira to indulge in your borrowed Italian taste. #KokanAye!
This argument over our poor currency is a lie of the elite to pass their problems as everyone’s!
Days ago, I made a 4 litre bowl of cooked beans (enough to feed at least 8 adults) from a N200 ($0:40) measure of beans! Add another N500 ($1) worth of sweet potatoes, and you have a super nutritious meal for 8 adults!
That’s less than $3 in total, N1,500 (including the costs of other stuff like onions, peppers and oil), to feed 8 adults?
Before you complain that the Naira is weak, tell me what you need the foreign currencies for, and #Eruobodo will show you how you and Dino Melaye are related!