Exchange rate: N500 can feed me but $1 can't, Obaseki's aide Jack Obinyan

Exchange rate: N500 can feed me but $1 can't, Obaseki's aide Jack Obinyan

- Jack Obinyan, a media aide to Governor Obaseki, has come under fire

- Obinyan drew the anger of Nigerians on Twitter with his controversial analysis on the fall of naira against the dollar

- The media aide, in a tweet, said N500 can feed him in Nigeria but $1 cannot do anything in the US

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Jack Obinyan, a special adviser to Governor Godwin Obaseki of Edo state on new media, pulled a controversial stunt when he slammed Nigerians for looking at the"purchasing power" at the Forex market instead of "exchange rate."

In a Twitter rant on Thursday, December 3, Obinyan who was reacting to naira's fall to the dollar at the parallel exchange rate, said with $1 at N500, he can still afford to feed himself fully.

According to the Edo governor's media aide, N500 can feed a Nigerian but $1 cannot do anything in the US.

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In his words:

"Purchasing Power is what you evaluate and not the Exchange Rate...Be it $1 = N1,000, I will feed myself and my friend in Mama-Put, plus free pure water. Oya do it with one dollar in America. Yeye dey ooze!"
Exchange rate: N500 can feed me but $1 can't, Obaseki's aide Jack Obinyan
Jack Obinyan was slammed by Nigerians for defending Naira's fall against the dollar at Forex market. Credit: Jack Obinyan and OfficialPDPNig
Source: Twitter

In another tweet, he further argued that "with N500 I will eat N200 rice, N100 beans and N200 assorted meat...$1 can never do it in America, come and beat me!"

However, his argument did not go well with many social media users who took time to school the political appointee on the implication of naira rising against the dollar at the foreign exchange market.

A social media user wrote:

"You talk like a fool. Na only food u dey buy? what of production cost for those that import."

Another user wrote:

"Minimum wage is 7.25$ an hour in U.s, equivalent 3,262# 40hours a week at the rate of #3,262, will give you #130,500 a week in U.s at $ rate of 450, but buying rice with 500# shows Nigeria is doing well, una go shs get sense one day."

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Another user also said:

"U can gaslight & encourage only d ignorant people to believe the exchange rate has no effect on our local currency & purchasing power. But u will never take away the truth; there’s trouble in the land . If it has no effect, why does the government have to spend a lot of billions
"To defend the naira? As at when the exchange rate was N250/dollar, people could still afford basics, and live in comfy. The purchasing power of 1,000 was still good. 500 naira per dollar. What can N,1000 do for you? Buy food and then what? Can it?"

Another tweep said Nigerians should stop comparing prices.

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Meanwhile, the Northern Elders Forum has again renewed its call for the resignation of President Muhammadu Buhari.

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Speaking during an interview on Channels Television on Wednesday, December 2, the spokesman of the forum, Hakeem Baba-Ahmed, said facts have supported their calls for the president to resign.

“The fact on the ground supports what we are saying. The situation under him is getting worse and there is no indication that it is likely to improve.

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