I’m glad someone is finally teaching Financial literacy to Young Nigerians on UA-cam. UA-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.
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
@@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 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
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 UA-camr Love tech and Entrepreneurship... keep it up
Lol, quite hilarious but true. I think they must be confused in the roundtable meeting discussing Future if Nigeria with the growing scaring 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.
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.
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.
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.
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.
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
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...
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.
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....
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🇫🇯
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
All the importation ban stuff reminds me of the term "dumping" from economics in sec.school.....the one term in economics i still havent forgotten from back then apart from the law of demand and supply💀
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.
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.
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.
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🇫🇯
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.
$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.
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.
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.
This is a very nice video and very educating. Even if we can get Naira in par with the dollar probably we can become so reliant that we wouldn't need to import any thing from other countries.
i can only imagine the cost and what you risk making this video for us which we appreciate a lot thank you for this and i wonder what to expect next❗. will $1 ever equate 1 naira lol really i hope so just that am not seeing the possibilities tho fingers crossed 🤞🏼 anything can happen.
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.
Lovely and simplified understanding of Nigeria economy. It's just sad how we know the problem and yet no meaningful effort toward providing solutions. Simply fix electricity alot will fall in place. Kudos @Fisayo
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.
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
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
@@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.
Great video...I really liked it. Investing in land is good if your view of appreciation is only in Naira. However, land is not liquid. I wouldn't invest dollars to buy land in Nigeria with the rate of devaluation. It is lose-lose game.
Thank for your educative video. But that NEPA one shock me oh the normal prepaid of 5000 use to be 99.9unit but now 82.6unit and they now sharing light for us What do we do wrong to this country that why i said am a born Nigeria but not a Nigeria in body and soul
Thank you very much for this video. This was on my mind today and I am very happy I came across this video. Thank you for teaching what needs to be learnt 🙏
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
You are a good analyst,but expectation as a cause of inflation is under demand pull inflation,future expectation pushes demand far higher than supply and cause inflation,and there is another major cause of inflation called "Imported inflation" which is when a country imports goods from another country facing inflation,the inflation will be transferred to the importing country,thank you.
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 UA-cam. UA-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
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
Bruh fisayo is unstoppable at this point...I'm enjoying these😭😭😭😭💙💙💙💙💙🤔🔥🔥🔥
Thank you 🙌🏾🙌🏾
Same here 😁
He has been fantastic
Them emojis tho XD
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
I haven't watched more than 3 minutes...I'm wowed by this already..Mr fisayo... you're doing a great job..💯
🙏🏾🙌🏾
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
Greatly Insightful. The NEPA part cracked me up loudly in the middle of the night
😅 Thank you
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
I like your finance Friday videos
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.
Fisayo is good abeg! 🔥🔥
Thank you 🙏🏾
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 UA-camr Love tech and Entrepreneurship... keep it up
Firstly, your content is very lucid. I like the time stamps. I like your simple explanations and comparisons. Keep it up.
Its really funny how this video showed up just before I have an exam about inflation ,😅😅😅 Thanks
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
But this is content Fisayo!!
🙌🏾🙌🏾
Needed something like this to see things right
🙏🏾
Pls I want to invest help me
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.
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.
Bro your videos have very apt. Thanks for sharing. I really appreciate
Thank you 🙏🏾
Bro, you didn't make mention of the SAP; Structural Adjustment Programme, which constrained Nigeria to deliberately devalue her currency in 1984
Excellent video. Also as an ECONOMIST, there are other variables which are CORRUPTION. I did an article about NNPC contract where $1.2 billion is added to the bill. What about Round Trips : The heavyweights are involved in the CBN. Nigerians are bleeding the economy. Also ritualists /yahoo plus do causes inflation.
Greetings from Ghana 🇬🇭. Great video bro! Thumbs up!
🙏🏾🙏🏾🙏🏾
Great vid really educative and informative 👏. In 2031 hmm by then a million naira mayb about 1,500$
I absolutely love this video and the whole finance Friday episode.
Thank you Sir Fisayo
Glad you do. Thank you 🙏🏾
Thank you for the analysis man. As a Non- Nigeria living here it does offer some enlightenment.
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
IM REALLY INTO THISSS
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.....
2=0=1 9=4=2 4=5=9=6....
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
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
Me after years of watching quality financial content from foreign creators, so so excited about finding this channel
Good way to use youtube. Thanks for portraying us in good light
I'll have to watch this 5 times to get all of it.
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...
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.
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....
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.
Wow... You are a great teacher and strong communicator. You explained with ease and it was well understood... Bravo!!!
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
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
All the importation ban stuff reminds me of the term "dumping" from economics in sec.school.....the one term in economics i still havent forgotten from back then apart from the law of demand and supply💀
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.
This is my first year in UNI. Just Nodding in agreement to every Word.
Nice once bro.
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.
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.
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!
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🇫🇯
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.
This is how I want lecturers to be... Nice one 👍
Oh Fisayo, you are a blessing
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 TIMELY and just insightful
Good job pls
$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.
No cap. The best thing about Fridays now is knowing that Fisayo will drop a finance Friday video.
Honored 🙏🏾
Thank you for this video....i have gotten some ideas here for my thesis
This is educative
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
Thanks, you gave me some additional perspective on why our currency will keep on struggling.
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 use piggyvest to save in dollars too. The best decision anyone can make in Nigeria.
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
This is a very nice video and very educating. Even if we can get Naira in par with the dollar probably we can become so reliant that we wouldn't need to import any thing from other countries.
Fisayo, you are AWESOME! Its always a joy to see young intelligent Nigerians.
Just found this channel, wasny aware any Ngian did this type of content! Absoolutely live it
I love this ... I think am leaving this country❤️
Thanks for this educative video..Zambia is exactly in the same mess..well done brother watching from Zambia..
i can only imagine the cost and what you risk making this video for us which we appreciate a lot thank you for this and i wonder what to expect next❗. will $1 ever equate 1 naira lol really i hope so just that am not seeing the possibilities tho fingers crossed 🤞🏼 anything can happen.
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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.
Hmmm
Lovely and simplified understanding of Nigeria economy.
It's just sad how we know the problem and yet no meaningful effort toward providing solutions.
Simply fix electricity alot will fall in place.
Kudos @Fisayo
I don't ever think or in the after that $1 will be equals to N1
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.
So much loving this series
Glad you like them 🙌🏾
This helped me understand how the economy runs. Thanks alot
Thank you for watching!
Too excited to see this channel. FINALLY someone to educate us on Finances in Nigeria.😩 Well overdue. Thanks UA-cam for the recommendation
Ba se nba lo yi
Irinwo naira yio di odunrun.
This guy just did 1 month's research and sound smart than our entire government
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......
2=0=1 9=4=2 4=5=9=6.....
@@frankmophie6209 👍🏽👍🏽
Keep doing what you do, you are highly appreciated
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
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.
Great video...I really liked it. Investing in land is good if your view of appreciation is only in Naira. However, land is not liquid. I wouldn't invest dollars to buy land in Nigeria with the rate of devaluation. It is lose-lose game.
Thank you for bringing understanding!
Thank for your educative video.
But that NEPA one shock me oh the normal prepaid of 5000 use to be 99.9unit but now 82.6unit and they now sharing light for us
What do we do wrong to this country that why i said am a born Nigeria but not a Nigeria in body and soul
Thanks for your comment contact for more info......
2=0=1 9=4=2 4=5=9=6.....
Nepa nepa nepa🤣🤣...very Apt analysis..loving this🔥🔥🔥
Thank you very much for this video. This was on my mind today and I am very happy I came across this video. Thank you for teaching what needs to be learnt 🙏
Amazing content of unmeasurable value. looking forward to next week's content.
🙏🏾🙏🏾
partly to do with inflation. The government doesn't understand it unfortunatly.
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
This really helped me alot, thanks Fisayo. More grease to your elbow
You are a good analyst,but expectation as a cause of inflation is under demand pull inflation,future expectation pushes demand far higher than supply and cause inflation,and there is another major cause of inflation called "Imported inflation" which is when a country imports goods from another country facing inflation,the inflation will be transferred to the importing country,thank you.