THE VALUE OF 1 USD IN MY COUNTRY

Hello Blurtisians,

Recently, I conducted a very personal study on the economy of people within my area. It is no longer news that the world economy is being threatened, the discovery of the deadly disease, Covid-19 even worsened the whole situation. In most countries, the situation is really bad that people cannot even afford one square meal a day, some cases are pathetic as they stay hungry for up to 2 days without any meal at all.

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Here in Nigeria, the case is very bad, moving from one form of recession to a covid-19 lock down has resulted in loss of jobs, business, many means of livelihood of the good people of this country and further attacked by the End Sars protest. Nigeria major concentration is exportation of crude oil, which price isn't steady and can be affected by a whole lots of occurrences e.g Covid-19. The country has been most affected by excess importation, a drastic decline in oil price and lack of jobs, insincerity of the leaders to there people. These and many more has affected the lives of the people.

Currently, the good people of Nigeria are diversifying into the Agricultural sector production and many more and we believe that in couple of years Nigeria will be better.

The Value of 1 USD in Nigeria

The dollar currency in Nigeria and other parts of the world is affected by availability, interest rates, inflation, etc. As at today the value of 1 dollar is 411 naira only. The value of naira keeps depreciating for reasons I stated above. What can you the buy with 1 USD = 411.00 naira?

Transportation

Short distance transportation can be achieved using 1 USD. In some states moving withing the town may not be too expensive.

Shaving

With one USD, you can get a good haircut and still have some change depending on where you intend to shave, but the good news is that a average person can keep his hair neat. I may not be able to say same for the woman but I think in some cases, it is possible.

Beverage
Beverage such as sugar, milo, lipton tea, etc can be bought with as small as 50 naira.

Water

Water is one of the cheapest commodity in Nigeria. Sachet water as it is sometimes called can be purchased for 10 naira each and a bag containing 20 sachets is 150.00 naira. People who do not bore holes still do buy water.

Stationary

Stationary such as pen, pencil, eraser are still within the range of 1USD.

Fruits

Fruits are abit expensive in Nigeria, 4 - 5 fingers of banana can be gotten for 200 naira. 3 pieces of oranges for 100 naira. Well I think it's still not too bad.

Drinks

Soft drink and some alcholoic drinks are still within reach. A bottle of coke is 100 naira, a bottle of beer is between 300 - 500 naira depending on the point of purchase.

Food items

There are still so much 1 USD can do for you in Nigeria but one of the most important is food items. This forms a valuable part of my study. Food is very essential to a common man. Averagely, most Nigeria family has about 3-4 children and I believe 1 USD cannot feed these. In Nigeria, food preferred by an average persons are usually garri and soup, for some rice and stew.

My question is can 1 USD cook a pot of soup?

Food stuffs like

Garri

Maggi,

Salt,

Fish,

Fufu,

Pepper,

Tomatoes,

Groundnut oil

Palm oil, etc.

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These and many more are what 1 USD can do in Nigeria. For some other countries, it might be better or even worst. There is prospect that naira will gain value soon.

Let's make a fun out of this, what can 1 USD do in your country?

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