I’m glad someone is finally teaching Financial literacy to Young Nigerians on TH-cam. TH-cam shouldn’t be about comedy skit alone. Keep Up the good work Bro.
Lol.. I love this write up.. Believe me, Nigerian youths, I included, have started learning how to make money in the internet. For me, since I found out about AI marketing, my heart has settled down.. Good luck to everyone here!
I remember when the Ghanaian cedi was 1 cedi to 1 dollar. Now it’s almost 6 cedis for a dollar. I believe if African countries reduce dependence on imports and export more, it’ll reduce their demand for the dollar and improve exchange rates.
@@pee-buddy well said...naija folks are too religious to face reality. Religion stops them from taking action....99% of Nigerians are living in a delusion that God will come and save them. Continue!
I just don't understand why the Government isn't investing in Agricultural manufacturing. I mean it about 17% of the country GDP. Investing in agriculture in Nigeria will result to low hunger crisis and improve Nigerians health (FOOD IS IMPORTANANT). This will also create jobs for many Nigerians who are into Agriculture. Why is Nigeria importing refined oil from foreign oil companies? Why don't we have an active and useful oil refinery in Nigeria? Is Dangote not done with his oil refinery company.? These politicians are going to BREAK HELL OPEN with all this nonsense.
You are correct bro, not just Nigeria alone. It's happening here in Liberia 🇱🇷. In 2016 $ 1 Million Liberian dollars LD was equivalent to 11,000 USD. Right now as I write $1 Million Liberian dollars is equivalent to $6,000 USD
Lol, quite hilarious but true. I think they must be confused in the roundtable meeting discussing Future if Nigeria with the growing scaring inflation.
I totally agree with naira to dollars can never be equal for now until we can start producing and become a great country of innovation supported by the government. if that doesn't happen it's going to be catastrophic for naira
The worst thing that EVER happened to Nigeria was having a strong currency. This made it easy to import which led to the destruction of all our fledgling industries and an economy that was rivaling South Korea at the time. Worse it has created entire generations of Nigerian's that feel that a strong currency (not trade not industry like China who fight to keep a low currency to ensure others buy from them) is a mark of value and economic strength, as well as an addiction to subsidies. It will take us at least 2 generations to dig out of this mind set.
inflation as it is in Nigeria, the same is in Angola, given the drop in the price of a barrel of oil. $ 1 is 650 Kwanzas Angola, a rate regulated by the Central Bank, already in the informal market is 710 Kwanzas. With regard to the interest rates offered by commercial banks, they are so insignificant, it makes people continue to keep their money at home. But despite the fact that our African politicians do not intervene 100%, so that this situation changes, in my point of view the countries of the West contribute a lot to the misfortunes in African countries, we Africans should be more united. We have everything the West needs, in terms of raw materials.
Excellent video. Also as an ECONOMIST, there are other variables which are CORRUPTION. I did an article about NNPC contract where $1.2 billion is added to the bill. What about Round Trips : The heavyweights are involved in the CBN. Nigerians are bleeding the economy. Also ritualists /yahoo plus do causes inflation.
Outstanding info, Nigeria needed to practice a complete sustainability on our approach of rectifying these underlying issues that threatens the collapse of the Country due to lack of proper management brought on by our incapable leaders on how to run a Country and lack management and organization skills. These problems are not just in food items, more also households amenities such as air conditioning, fridge, television and so on, in fact all the electrical and mechanical items that are needed in a households in Nigeria are majorly important to be manufactured. Nigeria need to practice a system whereby 99% of food item, 99% of both mechanical and electrical items are produced or manufactured in Nigeria and if possible 0% import is also necessary at least until a balance in our economy is restored. Adopting these measures will push inflation to an extreme minimal, which would eventually boost our currency and in return things would so cheap in Nigeria as a result. In addition electricity and technology is a must, and should be fundamental in other for those measures to implemented. keep up your good work, you're a very intelligent Man and an asset to Nigeria.
@@andie_Jones It does not. Just increasing more money into the supply chain, but with little to nothing to purchase can increases inflation since prices will soar or raises due to the availability or better worded the lack of availability of the goods. The reserves and banks use this and QE to control money or controlling the gates for new money moving into out of the money supply. The bank actually wants you to take out loans ( that is how bank make money ) and then for you to spend. The acts of the two , and how the availabilities of goods at that time is what can make steep raises in inflations. Just this week I've been watching beef, pork and chicken prices increasing by 30-60% just over the last 2 months.
I have never commented on your videos but this gave me no option but to drop something... I Started following your channel when you had less than 2000 subscribers. I am also a new TH-camr Love tech and Entrepreneurship... keep it up
$1 will never be equal to ₦1 again. Maybe the competing currency should move out of dollar. US government has been up and doing since 40 years ago to make them and keep as the center of world power. Their policies ensure their economy's growth. The more days go by, Nigeria is kept subject of from a bad leadership set to worst. To major source of this downturn is government. Even if a Saviour emerges, it will take a long time to regain the economy of Nigeria. FF thanks for this detailed video and raising the awareness.
Thanks so much for this educative video in plain language. I have so much to say in response that I don't know how or where to starr. The summary is ; 1.WE MUST BECOME A NATION THAT PRODUCES INSTEAD OF A NATION THAT JUST CONSUMES, then will our salvation begin. 2. Instead of encouraging people to invest in acquring assets that will just appreciate overtime, let's encourage them to invest in production, that way overtime we will build momentum and become a producing rather than a consuming nation. 3. We must encourage our people to BUY LOCAL. I believe you understand the far reaching effect of this singular action. 4. We need social media influencers like you to drive home the above points so we can begin to understand how dire the situation is, thereby leading to a mind reset and our eventual redemption. Like I said there's so much to be said but for now, I rest my case.
Very nice review but you forgot to mention that if a country devalues their note, price of goods must remain constant. if price level was to rise by the same percentage amount as devaluation then international relative price would not be affected and the economy would remain at its initial equilibrium level. that what we see in Nigeria until regulatory body it set up to check mate price stability we are going no where. Example is,what the sell coke in ph, might not be what the sell it in ebonyi state or say Kano, but the are the same commodity sold for the different prices. but in the US, prices of goods, is stable, regulated, and checkmated. but if price level remains constant, the economy will move positively this can only be achieved when a country has something to produce and sell as you rightly said. when BP, (balance of trade) Is done if export, is high import is lowered, because devaluation is introduced there will be surplus in this situation. which leads to rise In money supply (because the country is selling more product) this actually cause a fall in interest rate because the LM curve, has shifted to the right which in turn increases income. for country like Nigeria to adopted a flexible exchange rate regime, by allowing the power of the" invincible hand"( the forces of demand and supply) to determine the value of currency in the country the should be ready to play by the rules of demand, and supply or else nothing is going to change. Gracias.
I get you. I’m only focusing on the basic explanations so that people can get the gist. If I went into all the details, the video would span 30 minutes.
Hey Fisayo, you are really doing well, thanks for the deep information you put out. For now, I feel everyone should convert their savings from Naira to Dollars. No savings should be left in Naira and the unfortunate part is that the only way to get Dollars is in the black market which is costly.
OMG. Well done my brother! Wow. I am based in the US, and I wanted to see how I could help Nigeria. want to create a company that sources its products from Nigeria and sells it to Nigerians. Your video is very very informative.
Wow. This is very educative. Well broken down knowledge. Thanks.. I don't think the naira will ever be equal to the dollar in worth. Nigeria hasn't invested in technology. And as thus cost of production is high and exports is diminished
When God wanted to create the earth, the first thing he did was say "Let there be LIGHT". Every thing going forward made sense. If 1 000 000 naira will not be exchanged for 500 dollars in 2030, the energy supply (LIGHT_NEPA lol.) must be constant and we start being a productive and value addition based economy. Perhaps we can ask for 24/3-5days instead of 24/7 light to start with (lol). Great content and economics class bro. Keep the good job up. God bless Nigeria! Hmmmm....
The prof in you is evident. Good analysis as always Fisayo. As you opined, until foreign debt is reduced drastically, having a surplus balance of trade and payment, electricity is being fixed for production cost to be reasonable and diversification of the economy, 1 Naira will continue depreciating against the dollar. I love all your finance videos. Thumbs up
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Even in the next decade, Naira will not be equivalent to a Dollar because when one door closes and another two opens...Average Nigerian wants to make money quick that's why after knowing the implications of Ponzi, we still engage in it. Well great info, I recommend think like economist podcast for any curious mind who want to dive deeper on the topic.
1 Naira may never be equal to 1 Dollar because Dollar is the controlling currency. More people tend to demand for Dollar than Naira! Like you rightly said maybe when our exports outweigh our imports. Invariably, when we start having favourable balance of trade and payment. Until then the Naira will continue to diminish in value against the Dollar
Thanks for sharing your comments Make a note to my trusted Trade , James to help you Make million +1 8 5 7 3 4 2 9 8 7 1 he's strategies are top notch🇫🇯
Forget about the exchange rate. Focus on productivity! Productivity! That's all. That is the only thing that can save that country. Too many ideal people in the country. Just saying...
This is highly educating. It quickly attracts my subscription at this first watch. I guess 1 Naira can still come back to $1 when the exchange rates reaches N1,000 to 1 dollar and Naira is re-decimated as proposed by Soludo lead CBN administration; and as Ghana also implemented some years back. I'm not an economist o, economist can educate us in the implication of this.
Nigerians in Nigeria 🇳🇬 are the most mumu people on earth. For a country that voted incompetent president, corruption plus fraudulent constitution = Inflation
Inflation actually isn’t ‘very’ bad for a country it shows economical growth. Inflation is inevitable in a growing economy and is good provided it is managed well
Fisayo Fosudo I expected you to discuss how Redenomination of the Naira could help to increase it's value.I recall that Umaru Yar'adua almost did it around,2006.
The reason exchange rate matters so much to us, is because not only are we an import dependent nation, we produce almost nothing in significant quantity. South Korea's exchange rate is $1 to 1,123 Won, compared to the Naira's N500+/- But South Korea is a manufacturing titan and they export a great deal of merchandise to the world. They are home to Kia, Hyundai and Samsung. So exchange rate doesn't matter as much to them. I wish the answer to our problem is immediately obvious, but it is not. Manufacturing is capital and labour intensive and it took S Korea 15-20 years to set up shop. Its safe to say that ship has already sailed on us cos Ajaokuta Steel factory is still sleeping and doesn't look like it will wake up and the world has long moved on from where we are.
My brother you did try in this. Kudos. However, even N485 isn't even feasible again. Barter = N496.50 Wallet= N496 Carbon = N496 . Getting things now are seriously expensive and not like producing them here is cheap too. You have insecurity, power problems, area boy settlements, multiple taxation.. Etc . There are parasites everywhere, making sure the money generated from import duties go into private pockets. If government had used import duties to support local productions, either through subsidies or loans and thereby lowering inflation and encouraging spending, things won't be this bad. Because, an economy that spends is a strong and working economy. I think what we do here is discourage spending, discourage saving and thus, discourage investing. We have buffoons and people who literally handles our economy like public school teachers flogging students mindset. But no, economy doesn't work that way.
1) peg the currency to gold ( do Nigeria have gold reserve??) plus refine oil to increase its value in the market when selling 2) increase export and decrease import 3) better security to avoid back door like black market and smuggling plus good cyber security 4)better infrastructure and basic amenities plus maintenance culture to avoid spending more more in building infrastructure every 10 years 5) diversification ( agriculture,tech,industrialization,entertainment etc ) 6) decrease international loan increase domestic loan plus good interest rate for Nigeria citizens to start business 7) eliminate embezzlement,create good environment for foreign investors 8)improve the labor market cost plus the quality of goods to be made in the country to avoid qualified skilled workers from emigrating leading to brain drain in the country
Awesome analysis. In 2031 =N=1000000.00 will be less than $500 Only keep cash that you need for emergencies and invest everything assets that will appreciate in value.
You're asking the wrong question. What's important is not the exchange rate but the stability of a national currency. Thus, the more relevant question is: Even at the current $1-to-₦485, how could the value of the Naira be made stable so that it changes very little? In other words, how can we fix the exchange rate at $1-to-₦485 forever?
Naira can be equal to a dollar if we start having constant power supply. For this will cut down cost of doing business, increase in manufacturing of goods thereby resulting to low price of commodity.
And we really don't need export. Prices are high because of there are few productivity. I am in the poultry business and I produce my own feed for chickens. A bag of 25kg feed that will cost 5k in the market cost me about 2k to make and I get similar result. Our only challenge is 🌽 which is also high because demand is higher than supply. If I can get a bag of 50kg corn for 5k that will drastically drop my cost from 2k to about 1200 per 25k of bag of feed which will also drop the price in the market for an 8 week broiler from 2500 to 1500 including profit. But it will surprise you how many of my cousins I have begged to take up the production and marketing of local feed but are non challant to act but are always asking for free money. It's not hard to solve naija problem. We just have to be more willing and productive. Bro before naija go better we have to WORK HARD!
The mistake that people usually do when making such comparisons is not also considering the value of dollar then and now. $1,000,000 in 1980 is equivalent to $3.397M. so inflation has affected other currencies too but i agree Nigeria's own is on the high side but it's also good to mention both sides of the story
Nigerian aswell need to adjust their mentality on home grown products. It's from there inflation can start to drop gradually. When Nigerian starts buying more home grown at a high rate, better production and quality can be increased based on the profits coming in
If we can trust the quality of the goods produced here, we will buy our own. Until Nigerian agencies that will ensure quality products, quality control and assurance do there jobs effectively and efficiently, and stop being corruption, we buy foreign ooo!
@@Olori_Ajike Corruption is everywhere its just left to every agency to focus providing good qualities but good quality is still determined by the naira to dollar.
One of Nigeria's biggest problems is power! If the power problem can be solved, it will go a long way! But my question is, why is Nigeria not using solar systems, since the government power sector can not be relied on?
Pun intended indeed. 😂😂😂 Superb analysis of Nigeria's financial outplay @FisayoFosudo 👏🏾👏🏾👏🏾 I think a deep-dive on an issue basis and designing a solution model with a reasonable timeframe (from becoming agriculturally sustainable to meeting certain global needs/becoming innovative) would walk us through this dream. Such roadmap can actualize the ₦1= $1 by 2050 (70 years from 1981). Not news that developing and revising such model is actually our work as young Nigerians. Sadly, we actually don't recognize that we are blurred from recognizing this task and that is our worst state. Hope this makes some sense.
Yes 1 naira can equal 1 dollar, but only if our people request less dollars and sell goods and services to generate dollars, above all we should produce, manufacture and patronise our own goods and services and always improve on them. SIMPLIFYING the traditional way we do things would reduce cost of production in the medium term, from transportation, packaging, processing and customer rights. Just a simple example, before if I want to blend my pepper, I have to transport myself to the market to buy onion, pepper, tatashe and then come home to blend, but now I buy an already blended packaged pepper from the super market, so no stress, don't need to blend, no need to go market.
Thanks for this video Fisayo. Your channel is so educative. If more Nigerians can watch and understand your message then maybe they can understand why government is taking some difficult steps.
Nice Fisayo, but you didn't exactly tell why and how we got here...I think our undoing is the importation of petrol. Apparently for every litter of petrol we import, we have to export like 2 or 3 litres of crude (that's just an illustration). What this means is that our entire oil exports earning is next to none existent in the long run. If we just refined our own petrol, naira becomes stable, and if we can export petrol, naira would come back strong against dollar.
![Corrupt Nigerian Police Officer demands MONEY 🇳🇬[S7-E62]](/img/n.gif)
What is your favourite way to invest your Naira?
Reply below, 👇 let's chat!
Just buy Suya
Buy land
@@Alaminjos 😂
Crypto currency
I want to go back to the olden days
I’m glad someone is finally teaching Financial literacy to Young Nigerians on TH-cam. TH-cam shouldn’t be about comedy skit alone. Keep Up the good work Bro.
Lol..
I love this write up..
Believe me, Nigerian youths, I included, have started learning how to make money in the internet.
For me, since I found out about AI marketing, my heart has settled down..
Good luck to everyone here!
@@ugoojunior9469 pls tell me more about AI marketing. Thanks
Most definitely
I remember when the Ghanaian cedi was 1 cedi to 1 dollar. Now it’s almost 6 cedis for a dollar. I believe if African countries reduce dependence on imports and export more, it’ll reduce their demand for the dollar and improve exchange rates.
At least cedis went from bad to good and if care is not taking it will be back to bad again.
And it's going down 1dollar : 5cedi.
Meanwhile ours is climbing
There’s not a lot of manufacturing done in countries like Ghana or Nigeria. What will they export?? It’s sad, but it’s reality.
Well it's better then Nigeria if it becomes like Nigeria imma love it to thank the most high we get paid in dollars sister
This lad just broke down complex economic concepts in a way that is engaging and insightful. Hats off to you bruv
Complex?😳
hi nice to meet my name sake
An economist speaking 🤲🏽 feels like a Skillshare course
Yunno💃🏽💃🏽
This is literally my economics class all over again...lol
It felt like that for me too 😩😅
But sweeter
@@FisayoFosudo But better, more intriguing and realistic! Welldone man
Nigerians are here making a good name for themselves ♥️ 🇳🇬
The way it's going, 1 million Naira will soon be $500 .
😩😩
God forbid!
@@Idowugokeposts He didn't forbid it from $1,5000,000. Why will He forbid it now?
@@pee-buddy well said...naija folks are too religious to face reality. Religion stops them from taking action....99% of Nigerians are living in a delusion that God will come and save them. Continue!
You read my mind, I was even thinking $100
I just don't understand why the Government isn't investing in Agricultural manufacturing. I mean it about 17% of the country GDP. Investing in agriculture in Nigeria will result to low hunger crisis and improve Nigerians health (FOOD IS IMPORTANANT). This will also create jobs for many Nigerians who are into Agriculture. Why is Nigeria importing refined oil from foreign oil companies? Why don't we have an active and useful oil refinery in Nigeria? Is Dangote not done with his oil refinery company.? These politicians are going to BREAK HELL OPEN with all this nonsense.
Bruh fisayo is unstoppable at this point...I'm enjoying these😭😭😭😭💙💙💙💙💙🤔🔥🔥🔥
Thank you 🙌🏾🙌🏾
Same here 😁
He has been fantastic
Them emojis tho XD
This was a great video man
The nepa aspect as been killer of many dreams. That one alone they weak person spirit. Thank you fisayo for this content
Hahaha..
NEPA no fit affect Artificial Intelligence marketing...
I'm glad I found out about it..
Lol
Its really funny how this video showed up just before I have an exam about inflation ,😅😅😅 Thanks
I haven't watched more than 3 minutes...I'm wowed by this already..Mr fisayo... you're doing a great job..💯
🙏🏾🙌🏾
Greatly Insightful. The NEPA part cracked me up loudly in the middle of the night
😅 Thank you
You are correct bro, not just Nigeria alone. It's happening here in Liberia 🇱🇷.
In 2016 $ 1 Million Liberian dollars LD was equivalent to 11,000 USD. Right now as I write $1 Million Liberian dollars is equivalent to $6,000 USD
Plot twist: The CBN, SEC and Nigerian government watches Fisayo's Finance Friday videos to know what apps to target next.
Na true oh
Lol, quite hilarious but true. I think they must be confused in the roundtable meeting discussing Future if Nigeria with the growing scaring inflation.
They don't have power over that
You have a great weird interesting mind to be able to even think of that
From tech to finance. fisayo will soon hold a masterclass on finance & business intelligence
I like your finance Friday videos
Thank you 🙏🏾
Fisayo is good abeg! 🔥🔥
Thank you 🙏🏾
I love how you’ve managed to breakdown things I thought were complex into the simplest of forms. The Nepa part was hilarious. Great job Fisayo.
I totally agree with naira to dollars can never be equal for now until we can start producing and become a great country of innovation supported by the government. if that doesn't happen it's going to be catastrophic for naira
The worst thing that EVER happened to Nigeria was having a strong currency. This made it easy to import which led to the destruction of all our fledgling industries and an economy that was rivaling South Korea at the time. Worse it has created entire generations of Nigerian's that feel that a strong currency (not trade not industry like China who fight to keep a low currency to ensure others buy from them) is a mark of value and economic strength, as well as an addiction to subsidies. It will take us at least 2 generations to dig out of this mind set.
Thanks for sharing your comments Make a note to my trusted Trade , James to help you Make million +1 8 5 7 3 4 2 9 8 7 1 he's strategies are top notch
@@prsundar9851 Let him help you first..I am cool--you think I go to broke babalawo with chicken to look for millions...hahahah
Firstly, your content is very lucid. I like the time stamps. I like your simple explanations and comparisons. Keep it up.
inflation as it is in Nigeria, the same is in Angola, given the drop in the price of a barrel of oil. $ 1 is 650 Kwanzas Angola, a rate regulated by the Central Bank, already in the informal market is 710 Kwanzas. With regard to the interest rates offered by commercial banks, they are so insignificant, it makes people continue to keep their money at home. But despite the fact that our African politicians do not intervene 100%, so that this situation changes, in my point of view the countries of the West contribute a lot to the misfortunes in African countries, we Africans should be more united. We have everything the West needs, in terms of raw materials.
Me after years of watching quality financial content from foreign creators, so so excited about finding this channel
Excellent video. Also as an ECONOMIST, there are other variables which are CORRUPTION. I did an article about NNPC contract where $1.2 billion is added to the bill. What about Round Trips : The heavyweights are involved in the CBN. Nigerians are bleeding the economy. Also ritualists /yahoo plus do causes inflation.
I'll have to watch this 5 times to get all of it.
Outstanding info, Nigeria needed to practice a complete sustainability on our approach of rectifying these underlying issues that threatens the collapse of the Country due to lack of proper management brought on by our incapable leaders on how to run a Country and lack management and organization skills. These problems are not just in food items, more also households amenities such as air conditioning, fridge, television and so on, in fact all the electrical and mechanical items that are needed in a households in Nigeria are majorly important to be manufactured. Nigeria need to practice a system whereby 99% of food item, 99% of both mechanical and electrical items are produced or manufactured in Nigeria and if possible 0% import is also necessary at least until a balance in our economy is restored. Adopting these measures will push inflation to an extreme minimal, which would eventually boost our currency and in return things would so cheap in Nigeria as a result. In addition electricity and technology is a must, and should be fundamental in other for those measures to implemented. keep up your good work, you're a very intelligent Man and an asset to Nigeria.
Thank you for the analysis man. As a Non- Nigeria living here it does offer some enlightenment.
Greetings from Ghana 🇬🇭. Great video bro! Thumbs up!
🙏🏾🙏🏾🙏🏾
Even the dollar has lost 99% of its value. Politicians will always inflate money supply via money printing.
On point.
Money printing definitely leads to inflation
@@andie_Jones It does not.
Just increasing more money into the supply chain, but with little to nothing to purchase can increases inflation since prices will soar or raises due to the availability or better worded the lack of availability of the goods. The reserves and banks use this and QE to control money or controlling the gates for new money moving into out of the money supply.
The bank actually wants you to take out loans ( that is how bank make money ) and then for you to spend. The acts of the two , and how the availabilities of goods at that time is what can make steep raises in inflations. Just this week I've been watching beef, pork and chicken prices increasing by 30-60% just over the last 2 months.
This is the type of stuff i love see on facebook not naked people acting comedy. Fola yes in the next 10 years 10000000 naira will be like $100
This is how I want lecturers to be... Nice one 👍
Needed something like this to see things right
🙏🏾
Pls I want to invest help me
But this is content Fisayo!!
🙌🏾🙌🏾
Oh Fisayo, you are a blessing
I have never commented on your videos but this gave me no option but to drop something... I Started following your channel when you had less than 2000 subscribers. I am also a new TH-camr Love tech and Entrepreneurship... keep it up
$1 will never be equal to ₦1 again. Maybe the competing currency should move out of dollar.
US government has been up and doing since 40 years ago to make them and keep as the center of world power.
Their policies ensure their economy's growth. The more days go by, Nigeria is kept subject of from a bad leadership set to worst.
To major source of this downturn is government. Even if a Saviour emerges, it will take a long time to regain the economy of Nigeria.
FF thanks for this detailed video and raising the awareness.
Anything that goes up in Nigeria never come down #fact
That Nigerian adage that said "whatever goes up must come down", not when it comes to Naira😂
Bro, you didn't make mention of the SAP; Structural Adjustment Programme, which constrained Nigeria to deliberately devalue her currency in 1984
Fisayo, you are AWESOME! Its always a joy to see young intelligent Nigerians.
Thanks so much for this educative video in plain language.
I have so much to say in response that I don't know how or where to starr.
The summary is ;
1.WE MUST BECOME A NATION THAT PRODUCES INSTEAD OF A NATION THAT JUST CONSUMES, then will our salvation begin.
2. Instead of encouraging people to invest in acquring assets that will just appreciate overtime, let's encourage them to invest in production, that way overtime we will build momentum and become a producing rather than a consuming nation.
3. We must encourage our people to BUY LOCAL. I believe you understand the far reaching effect of this singular action.
4. We need social media influencers like you to drive home the above points so we can begin to understand how dire the situation is, thereby leading to a mind reset and our eventual redemption.
Like I said there's so much to be said but for now, I rest my case.
Valid thoughts
You made great points m8, I think 1 & 2 are of utmost importance.
Great vid really educative and informative 👏. In 2031 hmm by then a million naira mayb about 1,500$
Very nice review but you forgot to mention that if a country devalues their note, price of goods must remain constant. if price level was to rise by the same percentage amount as devaluation then international relative price would not be affected and the economy would remain at its initial equilibrium level.
that what we see in Nigeria until regulatory body it set up to check mate price stability we are going no where.
Example is,what the sell coke in ph, might not be what the sell it in ebonyi state or say Kano,
but the are the same commodity sold for the different prices.
but in the US, prices of goods, is stable, regulated, and checkmated. but if price level remains constant, the economy will move positively this can only be achieved when a country has something to produce and sell as you rightly said.
when BP, (balance of trade) Is done if export, is high import is lowered, because devaluation is introduced there will be surplus in this situation. which leads to rise In money supply (because the country is selling more product) this actually cause a fall in interest rate because the LM curve, has shifted to the right which in turn increases income.
for country like Nigeria to adopted a flexible exchange rate regime, by allowing the power of the" invincible hand"( the forces of demand and supply) to determine the value of currency in the country the should be ready to play by the rules of demand, and supply or else nothing is going to change.
Gracias.
I get you. I’m only focusing on the basic explanations so that people can get the gist. If I went into all the details, the video would span 30 minutes.
Jizus kryst!!! Do Nigerians hate punctuation???? My head is turning by just reading this. Mad oh!
Thanks for this educative video..Zambia is exactly in the same mess..well done brother watching from Zambia..
Good way to use youtube. Thanks for portraying us in good light
Hey Fisayo, you are really doing well, thanks for the deep information you put out. For now, I feel everyone should convert their savings from Naira to Dollars. No savings should be left in Naira and the unfortunate part is that the only way to get Dollars is in the black market which is costly.
I get you
OMG. Well done my brother! Wow. I am based in the US, and I wanted to see how I could help Nigeria. want to create a company that sources its products from Nigeria and sells it to Nigerians. Your video is very very informative.
Wow. This is very educative. Well broken down knowledge. Thanks..
I don't think the naira will ever be equal to the dollar in worth.
Nigeria hasn't invested in technology. And as thus cost of production is high and exports is diminished
When God wanted to create the earth, the first thing he did was say "Let there be LIGHT". Every thing going forward made sense. If 1 000 000 naira will not be exchanged for 500 dollars in 2030, the energy supply (LIGHT_NEPA lol.) must be constant and we start being a productive and value addition based economy. Perhaps we can ask for 24/3-5days instead of 24/7 light to start with (lol). Great content and economics class bro. Keep the good job up. God bless Nigeria! Hmmmm....
The prof in you is evident. Good analysis as always Fisayo. As you opined, until foreign debt is reduced drastically, having a surplus balance of trade and payment, electricity is being fixed for production cost to be reasonable and diversification of the economy, 1 Naira will continue depreciating against the dollar. I love all your finance videos. Thumbs up
Thanks for sharing your comments Make a note to my trusted Trade , James to help you Make million +1 8 5 7 3 4 2 9 8 7 1 he's strategies are top notch🇫🇯
No cap. The best thing about Fridays now is knowing that Fisayo will drop a finance Friday video.
Honored 🙏🏾
Even in the next decade, Naira will not be equivalent to a Dollar because when one door closes and another two opens...Average Nigerian wants to make money quick that's why after knowing the implications of Ponzi, we still engage in it.
Well great info, I recommend think like economist podcast for any curious mind who want to dive deeper on the topic.
Hmmm
I love this ... I think am leaving this country❤️
1 Naira may never be equal to 1 Dollar because Dollar is the controlling currency. More people tend to demand for Dollar than Naira! Like you rightly said maybe when our exports outweigh our imports. Invariably, when we start having favourable balance of trade and payment. Until then the Naira will continue to diminish in value against the Dollar
Wow... You are a great teacher and strong communicator. You explained with ease and it was well understood... Bravo!!!
I absolutely love this video and the whole finance Friday episode.
Thank you Sir Fisayo
Glad you do. Thank you 🙏🏾
Too excited to see this channel. FINALLY someone to educate us on Finances in Nigeria.😩 Well overdue. Thanks TH-cam for the recommendation
Your video keeps getting better!
Thanks for sharing your comments Make a note to my trusted Trade , James to help you Make million +1 8 5 7 3 4 2 9 8 7 1 he's strategies are top notch🇫🇯
Good article.
Can relate to this. Same issue with the currency and the economy of Angola overall
Forget about the exchange rate. Focus on productivity! Productivity! That's all. That is the only thing that can save that country. Too many ideal people in the country. Just saying...
Just found this channel, wasny aware any Ngian did this type of content! Absoolutely live it
All I have to say is "Thank you Fisayo". This video has made me a subscriber to your channel. Expecting more from you!
This is highly educating. It quickly attracts my subscription at this first watch.
I guess 1 Naira can still come back to $1 when the exchange rates reaches N1,000 to 1 dollar and Naira is re-decimated as proposed by Soludo lead CBN administration; and as Ghana also implemented some years back.
I'm not an economist o, economist can educate us in the implication of this.
Nigerians in Nigeria 🇳🇬 are the most mumu people on earth. For a country that voted incompetent president, corruption plus fraudulent constitution = Inflation
This is my first year in UNI. Just Nodding in agreement to every Word.
Nice once bro.
Thanks, you gave me some additional perspective on why our currency will keep on struggling.
Inflation actually isn’t ‘very’ bad for a country it shows economical growth. Inflation is inevitable in a growing economy and is good provided it is managed well
Thanks for your comment contact for more info....
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This guy just did 1 month's research and sound smart than our entire government
Fisayo Fosudo I expected you to discuss how Redenomination of the Naira could help to increase it's value.I recall that Umaru Yar'adua almost did it around,2006.
I am working on my seminar topic and this video will really help! I am sure that I would cite you in my work, thank you Fisayo.
Bro your videos have very apt. Thanks for sharing. I really appreciate
Thank you 🙏🏾
IM REALLY INTO THISSS
The reason exchange rate matters so much to us, is because not only are we an import dependent nation, we produce almost nothing in significant quantity. South Korea's exchange rate is $1 to 1,123 Won, compared to the Naira's N500+/- But South Korea is a manufacturing titan and they export a great deal of merchandise to the world. They are home to Kia, Hyundai and Samsung. So exchange rate doesn't matter as much to them. I wish the answer to our problem is immediately obvious, but it is not. Manufacturing is capital and labour intensive and it took S Korea 15-20 years to set up shop. Its safe to say that ship has already sailed on us cos Ajaokuta Steel factory is still sleeping and doesn't look like it will wake up and the world has long moved on from where we are.
Talking about tech is great, but learning about finance is awesome. Thanks man
Thanks for your comment contact for more info....
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My brother you did try in this. Kudos. However, even N485 isn't even feasible again.
Barter = N496.50
Wallet= N496
Carbon = N496
.
Getting things now are seriously expensive and not like producing them here is cheap too. You have insecurity, power problems, area boy settlements, multiple taxation.. Etc
.
There are parasites everywhere, making sure the money generated from import duties go into private pockets. If government had used import duties to support local productions, either through subsidies or loans and thereby lowering inflation and encouraging spending, things won't be this bad. Because, an economy that spends is a strong and working economy. I think what we do here is discourage spending, discourage saving and thus, discourage investing. We have buffoons and people who literally handles our economy like public school teachers flogging students mindset. But no, economy doesn't work that way.
Thanks for this free content. Wish they've made it so practical like this for us back then in school as many Nigerians lack financial literacy
Econs teacher no get that time if he is to cover the syllabus
@@mikolowiskamikolowiska4993 All of them dey teach out of frustration cuz how much dem dey collect sef
Nepa nepa nepa🤣🤣...very Apt analysis..loving this🔥🔥🔥
1) peg the currency to gold ( do Nigeria have gold reserve??)
plus refine oil to increase its value in the market when selling
2) increase export and decrease import
3) better security to avoid back door like black market and smuggling plus good cyber security
4)better infrastructure and basic amenities plus maintenance culture to avoid spending more more in building infrastructure every 10 years
5) diversification ( agriculture,tech,industrialization,entertainment etc )
6) decrease international loan increase domestic loan plus good interest rate for Nigeria citizens to start business
7) eliminate embezzlement,create good environment for foreign investors
8)improve the labor market cost plus the quality of goods to be made in the country to avoid qualified skilled workers from emigrating leading to brain drain in the country
Awesome analysis.
In 2031 =N=1000000.00 will be less than $500
Only keep cash that you need for emergencies and invest everything assets that will appreciate in value.
Thanks for your comment contact for more info.....
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This is educative
You're asking the wrong question. What's important is not the exchange rate but the stability of a national currency. Thus, the more relevant question is: Even at the current $1-to-₦485, how could the value of the Naira be made stable so that it changes very little? In other words, how can we fix the exchange rate at $1-to-₦485 forever?
This helped me understand how the economy runs. Thanks alot
Thank you for watching!
Naira can be equal to a dollar if we start having constant power supply. For this will cut down cost of doing business, increase in manufacturing of goods thereby resulting to low price of commodity.
partly to do with inflation. The government doesn't understand it unfortunatly.
And we really don't need export. Prices are high because of there are few productivity. I am in the poultry business and I produce my own feed for chickens. A bag of 25kg feed that will cost 5k in the market cost me about 2k to make and I get similar result. Our only challenge is 🌽 which is also high because demand is higher than supply. If I can get a bag of 50kg corn for 5k that will drastically drop my cost from 2k to about 1200 per 25k of bag of feed which will also drop the price in the market for an 8 week broiler from 2500 to 1500 including profit. But it will surprise you how many of my cousins I have begged to take up the production and marketing of local feed but are non challant to act but are always asking for free money. It's not hard to solve naija problem. We just have to be more willing and productive. Bro before naija go better we have to WORK HARD!
The mistake that people usually do when making such comparisons is not also considering the value of dollar then and now. $1,000,000 in 1980 is equivalent to $3.397M. so inflation has affected other currencies too but i agree Nigeria's own is on the high side but it's also good to mention both sides of the story
Thanks for your comment contact for more info......
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@@frankmophie6209 👍🏽👍🏽
Nigerian aswell need to adjust their mentality on home grown products. It's from there inflation can start to drop gradually.
When Nigerian starts buying more home grown at a high rate, better production and quality can be increased based on the profits coming in
If we can trust the quality of the goods produced here, we will buy our own. Until Nigerian agencies that will ensure quality products, quality control and assurance do there jobs effectively and efficiently, and stop being corruption, we buy foreign ooo!
@@Olori_Ajike Corruption is everywhere its just left to every agency to focus providing good qualities but good quality is still determined by the naira to dollar.
When I was little, my parents gave me coins for lunch money cos naira was strong.
One of Nigeria's biggest problems is power! If the power problem can be solved, it will go a long way! But my question is, why is Nigeria not using solar systems, since the government power sector can not be relied on?
This is TIMELY and just insightful
Good job pls
Pun intended indeed. 😂😂😂
Superb analysis of Nigeria's financial outplay @FisayoFosudo 👏🏾👏🏾👏🏾
I think a deep-dive on an issue basis and designing a solution model with a reasonable timeframe (from becoming agriculturally sustainable to meeting certain global needs/becoming innovative) would walk us through this dream.
Such roadmap can actualize the ₦1= $1 by 2050 (70 years from 1981).
Not news that developing and revising such model is actually our work as young Nigerians. Sadly, we actually don't recognize that we are blurred from recognizing this task and that is our worst state.
Hope this makes some sense.
Bro isn't this supposed to be a Tech Review channel? That's why I subscribed,
Sorry bro, there are bigger issues in Nigeria right now. So now it's more of a mix.
I still have a 50 Kobo note from when that was worth $1.00 USD. Enough for Fan Ice for me and my cousins. *sigh* . Great work sha.
Yes 1 naira can equal 1 dollar, but only if our people request less dollars and sell goods and services to generate dollars, above all we should produce, manufacture and patronise our own goods and services and always improve on them. SIMPLIFYING the traditional way we do things would reduce cost of production in the medium term, from transportation, packaging, processing and customer rights. Just a simple example, before if I want to blend my pepper, I have to transport myself to the market to buy onion, pepper, tatashe and then come home to blend, but now I buy an already blended packaged pepper from the super market, so no stress, don't need to blend, no need to go market.
Inflation grew gradually unnoticed till where it is now.
Thanks for this video Fisayo. Your channel is so educative. If more Nigerians can watch and understand your message then maybe they can understand why government is taking some difficult steps.
Talking what step?
The money they will still embezzle or save in one foreign country bank
😂😂😂😂hoarding money in foreign bank accounts steps.
Well done bro, Really enjoyed your content. We need more Nigerians like u. 👊🏾👊🏾👊🏾👊🏾👊🏾
Nice Fisayo, but you didn't exactly tell why and how we got here...I think our undoing is the importation of petrol. Apparently for every litter of petrol we import, we have to export like 2 or 3 litres of crude (that's just an illustration). What this means is that our entire oil exports earning is next to none existent in the long run. If we just refined our own petrol, naira becomes stable, and if we can export petrol, naira would come back strong against dollar.
Thanks for your comment contact for more info....
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Insightful! Now I understand quite a number of things.
ps. Who are the 2 unlikes. Weird people.