I get the analysis she’s trying to make and I understand her point but the analysis isn’t right. The average ghanian isn’t casually walking around with 20k cedis same way the average Nigerian isn’t walking around with 2.7 million
Of all the countries I have been to, I just realized that I have never taken a picture at a fuel station to compare prices with Nigeria 🥲.
But let’s break this down:
Economy is simple.
At today’s exchange rate, 20,000 Ghana Cedis is ₦2,745,200
If a Ghanaian enters Nigeria with 20,000 Cedis, he will ball.
But ₦20,000 is 145 Ghana Cedis.
So your naira home and away is terrible.
So when we talk about government’s policies this is what we mean. Our naira is next to nothing in the international and local scene.
Fuel and food may be cheap to Ghanaians but it can never be cheap to you because your Naira is not competitive and you exchange Naira for their currency.
Coke in America is $1
Coke in Nigeria is ₦500
What can ₦1 buy in Nigeria?
$1 can buy 3 bottles of coke in Nigeria
₦1 in the US is useless
So you’d travel to US and then say Coke is expensive because their $1 Coke means you have to change ₦ 1,700 to buy a single bottle of coke.
Cheap refers to your purchasing power.
Until the Naira becomes competitive, nothing will ever feel cheap to Nigerians anywhere in the World.
Pick a book and read.
Don’t call the countries expensive
Say it as it is, your naira is poor, your government is failing.