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According to a Nairalander dapoRead, Destiny Young wrote that:
“₦740 can buy me 2 square meals in Nigeria but $1 can’t buy you a meal in the US. ₦740 can buy me 1.6GB worth of data in Nigeria but $1 can’t buy you 250MB of data in the US. T-Mobile charges N32,500 for 30GB of data, AT&T charges N37,500 for 30GB of data, and Verizon also charges ₦40,000 for the same 30GB of data in the US. Glo charges me N10,000 for 50GB and MTN charges me N10,000 for 40GB of data. A 75cl bottle of water in Nigeria cost an average ₦100, a 55cl bottle water in the US is $1.45 which is ₦1125.”
https://ooduarere.com/news-from-nigeria/breaking-news/not-all-that-glitters-is-gold-naira/
https://www.nairaland.com/7411123/not-all-glitters-gold-naira
Destiny Young is trying to say that the Naira is stronger than the US Dollar. But some Nairalanders disagree with Destiny Young stating that it is easier to earn USD in the US than it is to earn the equivalent in Naira.
Online commentators also add that the US Dollar can buy the same Naira very cheaply.
Others add that at present, the Naira can only buy things made in Nigeria cheaply but Nigerians have to pay much more when importing things made outside Nigeria like phones. And you know Nigeria imports so many things.
What’s your own analysis of this situation?
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