Peter Gregory Obi, the presidential flag bearer of the Labour Party and former governor of Anambra state has sent out a message to those saying that he lied about Nigeria's total export rate. He made this known while addressing members at the Labour Party summit in Abuja. He took his audience down memory lane by reminding them of the statement he made last month about the total export of Nigeria not being up to thirty billion dollars in 2021.



He referred to the information shared by the National Bureau of Statistics(NBS). According to his findings, the Nigeria's total export last year was 18.9 trillion naira and at that time he made that statement, the exchange rate of dollar to naira was about six hundred and fifty naira, not 399.6 naira as claimed by those who countered him. So, to get the actual figure in dollars, he divided 18.9 trillion naira by 650 naira and that's about $29.1 billion. He concluded by asking those present at the summit to go and verify.

Source
"I Was Called A Liar When I Said Nigeria's Total Export Is Less Than $30 Billion" - Peter Obi - Opera News Official
http:///s33389655220811en_ng?link=1&client=news

The bunch of incompetent brown envelope journalists in Nigeria cannot do any verification apart from collecting Tinubu's bribes to write trash.

Long live Nigeria where competent people are allowed to lead 5he country to progress.

Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie


Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

If we use official exchange rate of 420 naira to 1 USD that will mean our export is $45bn dollar.

life2017:
Obi is a die hard liar.

If the export was quoted in naira by

Some people are shameless, even after they have solved the maths for them on the blackboard, they are still arguing with their teacher?

That's why they couldn't pass WASC after 7 attempts.

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher

Can you get me dollars from CBN? Why should I use CBN unreliable rates when I will still source my foreign from the black market?

Let every Obedient family member understand that tribal and religious sentiments are now the available tools being used against the family. Just keep educating everyone that Obedient Movement is a Nigerian Movement without any regional, triibal nor religious inclinations.

ThrownBack:


Can you get me dollars from CBN? Why should I use CBN unreliable rates when I will still source my foreign from the black market?

stop expressing your ignorance.

Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie

Nobody understands your statement more than you. If his statement was not understood and he has been able to clearify himself, the wise step is to let it be. If not, it indicates that judgement has been reached against him. This is mathematics and cannot just be manipulated.

life2017:


stop expressing your ignorance.

Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

This is how you people destroyed the economy with your ignorance. NBS using official rates to compile their statistics is an attempt to give a good impression of a very bad economy, but the people bearing the brunt of their madness is me and you, and the masses on the streets.

It won't surprise me if you are not benefitting from this government, and you're here mounting this strong defence for their wrong policies and wrong data, only to enter market later today and buy goods imported with dollars bought at #680. In the end you still come back here and blame the traders instead of the wrong stats from your government.

Nigeria needs new leadership that will say things as they are, not sugarcoating figures to push a faulty narrative.

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie

What a miserable ignoramus.

Time wasted birthing your kind should have been invested in agbado and cassava, maybe the senile sick one won't be obsessed by it cos it would ave been in abundance.

How many importer or exporters get forex at CBN rate?. 90% of them don't and you come here trying to insult your betters.

Go home and slap your progenitors for being stupid not to use gold circle.

life2017:


stop expressing your ignorance.

Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

There is no need for this flipflop, just give us the figures in dollar as stated by the NBS. If you don't have it, you don't have sufficient proof to say his figure is wrong.

Media outlets doing these half truth fact checks are brown envelope outlets funded by Lagos stolen money

No doubt, obi is the best candidate for the job. Together we can get it right this time around.

Peter Obi for president 2023

Born2Breed:



What a miserable ignoramus.

Time wasted birthing your kind should have been invested in agbado and cassava, maybe the senile sick one won't be obsessed by it cos it would ave been in abundance.

How many importer or exporters get forex at CBN rate?. 90% of them don't and you come here trying to insult your betters.

Go home and slap your progenitors for being stupid not to use gold circle.

You brought a nuke to a knife fight!

Why calculate with official rate when we use black market rate for most trades...

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie

Bro doesn't be fooled. The official CBN rate is the dishonest rate. If you want to buy dollar, you can never get it at the official CBN rate so why quote a rate that doesn't work?

life2017:


stop expressing your ignorance.

Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

Bro, you need understanding. Nigeria exports in Dollars like you said. Last year, we exported under 30 billion dollars but when we converted with the CBN rate, it gave the 18 plus trillion.
Nigeria's total export last year was 18.9 trillion naira according to authorities, the question is how much was it in dollars. When we trade and do international business the Naira is valued at over N650 so do the math. The CBN converted the Dollars at the rate of under N450 hence the 18.9 trillion figure. Claim down, forget your politics and do a little maths. Maths has no political party.

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie

You are more gullible than I thought, do the stats again review your own comments you will understand you just missed the point because of sentiment

life2017:


stop expressing your ignorance.

Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

Stop being ignorant... do you think export goods are submitted to Government to be given to international trade companies.. you deal on your transactions from top to bottom while paying Government levies for various charges..

When you export, would you as a business man want to receive your payment at black market rate or CBN rate?...

E.g - you are owed $2,000 × 410 = 820k (CBN)
You are owed $2000 × 650 = 1,3m (black market)

Don jump into arguement with mentors on half knowledge, you would only disgrace yourself.

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie

ignoramus indeed.....shey u don humble now..... sometimes una go just open mouth waaaaaa like person wey don high....

I like the Obi movement but he goofed here. And I don't understand why his supporters are defending nonsense.

You have to divide by the official rate of #460 and that gives you $30bn+.

If you export your goods, you deal with banks to get your money paid in forex. Will the bank give you your money at the black Market rate of #650? Reason well nah. Not everything is politics and tribalism.

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie

Abeg o that phone wey you get how much wey you think say the importers dey give the dollar rate
You forget say CBN ban banks from exchanging forex so no one is compelled to use official rate?
Fertilizer sells at the black market rate so everything being imported uses aboki rate abi aboki, hausas no be Nigerians again?

NBS didn't give that stat in dollar currency oga

obaaderemi:
I like the Obi movement but he goofed here. And I don't understand why his supporters are defending nonsense.

You have to divide by the official rate of #460 and that gives you $30bn+.

If you export your goods, you deal with banks to get your money paid in forex. Will the bank give you your money at the black Market rate of #650? Reason well nah. Not everything is politics and tribalism.

Oga banks don't give dollars again I don go banks and they have removed forex access to individuals so dollars are being bought and sold on the black market and that is what's being used phone parts etc are bought with black market rate.

dedollarman:
Peter Gregory Obi, the presidential flag bearer of the Labour Party and former governor of Anambra state has sent out a message to those saying that he lied about Nigeria's total export rate. He made this known while addressing members at the Labour Party summit in Abuja. He took his audience down memory lane by reminding them of the statement he made last month about the total export of Nigeria not being up to thirty billion dollars in 2021.



He referred to the information shared by the National Bureau of Statistics(NBS). According to his findings, the Nigeria's total export last year was 18.9 trillion naira and at that time he made that statement, the exchange rate of dollar to naira was about six hundred and fifty naira, not 399.6 naira as claimed by those who countered him. So, to get the actual figure in dollars, he divided 18.9 trillion naira by 650 naira and that's about $29.1 billion. He concluded by asking those present at the summit to go and verify.

Source
"I Was Called A Liar When I Said Nigeria's Total Export Is Less Than $30 Billion" - Peter Obi - Opera News Official
http:///s33389655220811en_ng?link=1&client=news

First of all, export earnings are in dollars. Because we're paid by foreigners using an international foreign exchange which is dollars.

Even Intercontinental football transfers are done/quoted in dollars ($), while International transfers in Europe are done/quoted in Euro (€) and UK transfers are done/quoted in Pounds (£).

Another example is Gas Russian trade which was conducted in dollars ($) before the Russian-Ukraine War started.

2. As of 2021, the average official dollar exchange rate was #403/dollar, and the black market was around #500 at the highest.

3. Since the earnings are in dollars, that implies that NBS converted dollars to naira, thereby getting the #18.9trillion amount.

4. To know the amount in dollars, that means the #18.9 trillion will be divided with an average rate of #403 which equates to "46,898,263,027.295285" ≈ $47million.

When using the black market rate of an average of #500, we have about $37.8million

5. Hence, Peter Obi is either a bad mathematician, a poor economist, or just a chronic liar.

Obi, the programmed lying China machine

james078:


Oga banks don't give dollars again I don go banks and they have removed forex access to individuals so dollars are being bought and sold on the black market and that is what's being used phone parts etc are bought with black market rate.

This thing is simple. You export cashew beans to Korea from Aba. The Koreans will not hand money to you in cash, will they? They wire your money into your account in dollars. Will the bank give you #450 or #650 for a dollar? Oya, answer.
Obi needs to take it easy with his mouth.

Why is it that APC's campaign strategy is always centred on Igbo-hate? An average APC member, Buharist and now Batists cannot campaign for their candidate without attacking Igbo people. The same people will quickly run out and brand Igbo people children of hate and perdition. What is wrong with you? Because Igbo people are living in Lagos Nigeria, they will leave their own interests and be supporting Yoruba interests do you understand the meaning of one nigeria ? just to please you fo.ols? Are you guys simply ins.ane or you just never evolved from precolonial times to a modern democratic 21st century? I sha.me for unna o. Awon alainiojuti. Sh.ame!!!

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie


Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

If we use official exchange rate of 420 naira to 1 USD that will mean our export is $45bn dollar.

You see how those ignoramuses gang up on you?

A mob of idiots trying to push lies on the public.

Obi CAN NEVER BE PRESIDENT.

james078:


Oga banks don't give dollars again I don go banks and they have removed forex access to individuals so dollars are being bought and sold on the black market and that is what's being used phone parts etc are bought with black market rate.

If you earn dollars, you'll receive dollars.

obaaderemi:
This thing is simple. You export cashew beans to Korea from Aba. The Koreans will not hand money to you in cash, will they? They wire your money into your account in dollars. Will the bank give you #450 or #650 for a dollar? Oya, answer.
Obi needs to take it easy with his mouth.

Importers have no where to buy dollars except for black market cause banks don't have liquidity
And if you bought from black market at 650 /700 why would you go to the bank and collect 450 /400 na father Christmas you be.

Please oga buy like that make I come buy for your hand cause you are a good business man

See links below make e no be like say I dey talk without facts

https://nairametrics.com/2022/07/29/nigerian-importers-are-desperate-to-pay-for-dollars-at-any-price/?

https://qz.com/africa/2058300/nigerias-central-bank-says-it-will-not-seize-dollars-in-accounts/?

life2017:


stop expressing your ignorance.

Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

Please check links below and screenshot banks don't have dollars importers buy from black market.

https://nairametrics.com/2022/07/29/nigerian-importers-are-desperate-to-pay-for-dollars-at-any-price/?

https://qz.com/africa/2058300/nigerias-central-bank-says-it-will-not-seize-dollars-in-accounts/?

life2017:
Obi is a die hard liar.

If the export was quoted in naira by NBS, knowing fully well export is done in dollars, NBS can only use official CBN rate to convert it to Naira. NBS is an agent of Nigeria govt and as such can only use CBN approved exchange rate for its statistics.

Because his followers are gullible, OBi is taking advantage of it to say nonsense.

If nigeria bureau of statistics (NBS) had used black market rate, the amount of the export in Naira would have been higher than 18.9trillion Naira.

Obi should be humble enough and accept his ignorance or lie


Nigeria does not sell its goods to foreigners in Naira. The product are exported in dollars. what Nigeria received from export is dollars and not Naira.

Since NBS quoted it in Naira, NBS simply converted the dollars received by Nigeria to Naira. And NBS being an agent of govt, can only use approved CBN rate to convert the value of the export done in Dollars to Naira.

If you must convert it back to the dollars, which is the original currency for the trade, you must use the same exchange rate.

If we use official exchange rate of 420 naira to 1 USD that will mean our export is $45bn dollar.

I have read so many obviously wrong Statistics quoted by Peter Obi which shows that he is surprisingly not well informed about issues he qoutes Statistics about.