Off course they are on top of the situation,we now that even before now,even the insurgency you guys have always been on top the situations.

Seriously the majority of Nigerians won't panic so long as there's no hike in fuel price nor scarcity, no hike in price of agege bread nor in ijebu garri. Chikena.

Aso Rock can entertain itself with its panic and madness. Abeg o.

If I am not to be mistaken this pig of a woman, this pig looking creature has been Minister of Finance under 2 president in the last 12 years , Madam Piggy its your useless strategies that got us here in the first place and now you want us to trust ur same swine strategies to get us out , Madam you don have the fear of God at all .

This woman ... Her lies are very nauseating, she says we should not panic but the cbn has already devalued the naira thereby exacerbating the already miserable and unpalatable plight of the masses.

If anybody still believe in her words, you r OWN YOUR OWN.

Clone2020:
When the government tells you not to panic, that's exactly when you start panicking. 'Lol OPEC is irrelevant, this cartel doesn't have the power or influence it used to have. Since 2011, U.S stopped buying Nigerian Oil. Today, oil prices are falling and it will get worse. In the past, OPEC was able to set the price in the market, whenever they had meetings everyone waited patiently for their decisions. Lol but can you believe OPEC had a meeting 2 days ago and nobody cared, the financial sectors weren't even affected. U.S is producing shale oil at an alarming rate and its only going to get higher once the Keystone Project is passed by congress. I honestly feel bad for Nigeria, our currency just got devalued due to the low oil price and its only going to get worse. This generation's youth need to write letters to all their government officials, organize protests and campaign against politicians who are so myopic not to see the incoming doom looming over Nigeria. Vote for public officials who want the economy to focus on agriculture, improvement in the nation's electricity infrastructure and establishments of industrial plants if we are to remain relevant in the next 25years.'

Youth you say? I laugh in Amala. The youths who don't know the repercurssion of their action in present day Nigeria? The youth who would rather worsen their own life than better it?

This country is doomed! It will keep getting worse.

bugs1:


http://leadership.ng/news/392053/dwindling-revenue-cause-alarm-okonjo-iweala

is there something this so called leaders are eating that is retarding their brain cells or do they think they can fool everybody

things r going to improve in 2015 when dangote completes his refinery and igeria stops importing fuel. but we need to stop depending on oil money.

The strategy that caused the devaluation of our legal tender huh ?

Do Nigerians trust Nigerians?

Atleast Jonathan govt hasn't had much oil price fluctuations...

Clone2020:
When the government tells you not to
panic, that's exactly when you start panicking. 'Lol OPEC is irrelevant,
this cartel doesn't have the power or influence it used to have. Since
2011, U.S stopped buying Nigerian Oil. Today, oil prices are falling and
it will get worse. In the past, OPEC was able to set the price in the
market, whenever they had meetings everyone waited patiently for their
decisions. Lol but can you believe OPEC had a meeting 2 days ago and
nobody cared, the financial sectors weren't even affected. U.S is
producing shale oil at an alarming rate and its only going to get higher
once the Keystone Project is passed by congress. I honestly feel bad
for Nigeria, our currency just got devalued due to the low oil price and
its only going to get worse. This generation's youth need to write
letters to all their government officials, organize protests and
campaign against politicians who are so myopic not to see the incoming
doom looming over Nigeria. Vote for public officials who want the
economy to focus on agriculture, improvement in the nation's electricity
infrastructure and establishments of industrial plants if we are to
remain relevant in the next 25years.'

waow.......i cant believe we still have people like you in our country.........well said

Ebubeslym:
No cause for control...

everything is under alarm..


yeye dey smell

modified****
stop twisting the topic

you mods

LOL... THIS HAS MADE MY DAY... ... NICE ONE

The fall in oil price in d international mkt is an early warning system. Nigeria needs to file-tune its diversification of d economy. Oil contributes more dan 80% of Nigeria revenue & if anything happens to oil price downward, there's a very big problem cos oil is d major source of revenue of Nigeria. Therefore, anybody who says no cause for alarm is not being sincere at all. Diversification! Diversification!! Diversification is d answer!!!

How many years ago - did I talk about NOI* I sounded biased then abi?
Do I still sound biased?
Okay when I told you people, if IMF and world bank say we are doing something right we are actually do everything wrong? - it was not listen too then* - and I doubt it would be listen to now- go back to my earlier posts immediately they removed the supposed subsidy, years ago- legalising out right stealing and corruption, they would have said then, she's was the M.D of world bank, she left her plum job to serve nigeria, she should have stayed their "rubbish"- my brothers from the other side of the niger, that travel to import -this! and that!!, your own daughter has just hammered you, the most- with her upside down VOODOO economics- a nice script written to plunge us into slavery- to china and the west, "no wonder they don't want to help us with anything" Foreign Direct investors are the way to go, first lie, it has never been the way to go! the mess is just getting, messier!!! - they were busy mopping liquidity when they were supposed to be looking for the right level or % for inflation for the countries economy - they were busy approving money and owing local contractors, for roads constructed or being constructed, while eating N1b food - and some collecting salaries in dollars - traveling every week abroad for no reason, with an entourage of, 30 people - while buying cars instead of building specialised treatment centres, for the treatment of ebola or any other contagious issue of health -N1.9b* -
screeding the walls of airports and shouting aero-tropolis new airports - rail systems:- adding stones to tracks, which were already done by obasanjo Govt, approving money for universities that were upgraded from secondary schools to technical colleges and then universities within 2years, of collecting the allocation apportioned for this upgrade, each time they said they were upgrading, federal university otuoke is an example - federal university wukari taraba state another example- under her nose for that matter!!!! - don't worry, once she is through, she would take her passport and jet out again*-

sebali:
When Okonjo speaks I wonder how she ever got to such a high position in world bank because I use to think that Imanmadu(man kn man) was peculiar to africa.

She has done an EXCELLENT job so far with all the progress we have made in reviving our industrial base slowly in cement, automobiles etc. You should rather be concerned about the loafers that we have as SINators and representaTHIEVES as well as the 36 state governors who just want HIGHER oil price benchmark so they can share & spend more with little concern about savings and capital expenditure =>

Budget: Sanusi, Okonjo-Iweala insists on 75$ oil price benchmark
October 14, 2012

“Actually the figure should have been 72 dollars a barrel and to give country the room to spend more, we adjusted the module a little bit and took 75 dollars to allow that little bit of a buffer and accommodate their concerns.’’

She noted that jacking the benchmark up to 80 dollars per barrel would take the economy in a direction that would be unhealthy.
Also, Malam Sanusi Lamido Sanusi, the CBN Governor, said that increasing the benchmark would not increase revenue for government.
“Increasing benchmark does not increase government revenue; government revenue comes from how much oil you sell and at what price.
“Increasing the benchmark just increases the amount of money that is going to be spent and I think it’s important to remember that.’’

More at: http://www.vanguardngr.com/2012/10/budget-sanusi-okonjo-iweala-insists-on-75-per-barrel-oil-price-benchmark/

That was for the 2013 budget.
Below was for this year's budget =>

Nigerian president delays budget on spending dispute

In the 2014 budget plan document, the finance ministry set the oil benchmark price $74 a barrel.

The House of Representatives and the Senate last week each proposed amendments that would inflate the benchmark to $79 and $76.5 a barrel, respectively. Both moves, by increasing the price, would boost budget spending but reduce savings meant to shield the economy from oil price and production shocks.

The Senate report criticizes the "the continuous building up of the nation's external reserve above the internationally recognized standard of 3 months ... imports, at the expense of the provision of critical infrastructure."

More from: http://www.reuters.com/article/2013/11/19/us-nigeria-budget-idUSBRE9AI0M920131119

Far too many of us are simply MUGUS hence these fools can lead us without qualms while we shout president this, president that for any small problem we have, including absence of PROFESSIONAL teachers in our secondary schools or unpaid salaries to state workers

No wonder some clueless people want an old soldier who described his fellow citizens as "senseless and useless" to come back and flog them to discipline.

nairaman66:
So far, we all know that the present Administration is full of white lies and schemes!

When they ask you to stand, please run for your life! Don't take madam fat jaws too seriously!

She spins lies from her offices as Coordination Minister of the economy and Minister of finance! What a feat..

Conclusively, no cause for alarm yet she hastily introduced austerity measures! She didn't know she has already sounded the trumpet..

Yeye dey smell

So introducing austerity measures is a sign that she's lying. What sort of thinking is this. If fire breaks out and the firemen tell you not to panic and then go ahead to cut power and begin demolition does it mean they are lying or incompetent. Is positive action now a sign of incompetence. Or you prefer no action or you want to panic by force. Oya panic na.

Austerity measures is the standard operating procedure for dwindling incomes for any financial entity be it an individual, corporation or nation. Austerity simply means reducing your expenses with its attendant consequences.

BlackTechnology:
Madam

This is time to partner and finance the establishment of international rice, fruit juice, milk electronic, electrical, mechanical etc industries whose products constitute the largest imported goods and the greatest pressure on our foreign reserve.


Pls hurry up before we end up like Ghana.

My brother, thank you. What you've said here holds the solution for not only Nigeria but all African countries. Only science can save Africa!. And it's what I've been clamouring for ages!. Anybody who want to know why please read the below link and you'll understand.

who is panicking? i think they are the ones panicking in this instance- or why did the suddenly devalue the naira and raise the interest rate? you are panicking and u r telling nigerians not to panic? it is just a matter of time before the panic-induced policies you are making now generate the same among nigerians, and your announcement that we should not panic will actually fuel it (coz pple will believe the exact opposite of what you say)

PDP simply means People deceiving people.

Nigerians Deceiving Nigerians.


When they want to tell you that there is Fire on the mountain, Run, run run run,

The only way they can say it to you is that, everything is under control.


Everything has always been under control in Nigeria and yet we find ourselves in dis dilapitatable state.

Everything was under control in chibok, yet more than 200 girls vanished into thin air.

Everything is under control in Mubi, yet the town got raised.

Everything is under control in the north-east, yet boko haram captures more territory.

Every thing is under control with this economy, and yet Austerity measures has been introduced, Naira further weakening.

When u devalue the naira, its like saying American Dollar and Nigerian Naira are in a boxing Ring, the Dollar has boxed the naira so much so she's thrown in the towel and conceded to a brutal defeat, hereby devaluing the naira and getting a chance only to go into the ring again and get beaten pulp blue and black.

People must learn to stop deceiving people..


When u hear "Everything is under control", its a deceptive Cliche.

The truth of the matter is, There is fire on the mountain and people must run run run run.

Everything is not under control ooo!

Fuel prices would go up oo,

There would be more famine and more hunger In the land oo!

Boko haram would not stop ooo!


Wahala go dey for 2015 ooo!


Chibok girls, its over 230 days or more ooo!

The rich would get richer and poor get poorer ooo!


Taxes on yatch, private jets and champagne wouldn't be burnt by the rich because they are highly connected.

The treasury would bear the cost of these taxes ooo!


Fellow Nigerians, everything isn't under control ooo!

A word is enough ooo.

Although the details of the strategies have not been made public by the minister, I strongly feel such should include cutting of salaries and emoluments of all political office holders- president and his vice, national and state assembly members, ministers and all the principal officers in our political structures. It will be unfair for the federal government to make regular nigerians bear the full brunt of the recklessness of the ruling class. The nigerian populace has sacrificed too much while the ruling class has taken too much from the country .

Reference:


So introducing austerity measures is a sign that she's lying. What sort of thinking is this. If fire breaks out and the firemen tell you not to panic and then go ahead to cut power and begin demolition does it mean they are lying or incompetent. Is positive action now a sign of incompetence. Or you prefer no action or you want to panic by force. Oya panic na.

It is a sign that she is playing double standards! For the records in the space of a month they have introduced;

Devaluation of the Naira.

Introduction of austerity measures.

Taxes on luxury goods which is yet to take effect.

Inconsistency of the Naira against the Dollar.

All These aforementioned points has already lead to a panic situation, yet she said we shouldn't..

Billyonaire:
The 2014 Budget was based on a comfortable $77.5 price of oil per barrel. The Executives originally calibrated the Budget based on $74 per barrel, but the national assembly decided to move it up to $77.5 because of the pseudo-knowledge of Economy. That's why I keep saying we should allow experts to do their job because they studied these courses and have decades of years of experience.

At this juncture, the FEC should expedite action in re-calibrating our budget to reduce expenditures, take up interest rates, raise taxes on the rich and tighten up any loose hole on capital flight and travels of politicians. These are short term policies and temporal until when the price of oil eventually goes up.

The long term plan should be drawing up an Economic Blue-Print that will totally diversify the Economy with Oil as secondary source of income; these can not be done without the radical implementation of resources control of states, States must compete, (just like states in US and Provinces in China ) privatization of the non-military Federal parastatals.


It's Friday people, I am preparing for a house-party tonight, 5 ladies and 3 guys.

Government know how to scream when price falls. $74 or $77, we were selling at $100 for amlost 10 months. What happened to the excesses. Did we feel the impact in job creation and all? No. Even with the excesses, the foreign reserve was dropping fast. So government was overspending and stealing. Burning the excess immediately and also chopping the reserve. The reserve never incresed for a day with the excesses. Now prices are low, yet we still pay the same for pump price of petrol. How come prices of petrol are not dropping? So government is even profiteering from the mess. Madam Okonjo, please stop teaching us nonsense. You guys have gotten used to selling nonsense to GEJ. Thanks to his gullibility and now you assume all Nigerians are completely dumb. For you to tell us things like this, i wonder the fubulicious stories you tell oga at the top.

Mad woman, i can never respect or trust whatever she says, hypocrite.

Reference:


So introducing austerity measures is a sign that she's lying. What sort of thinking is this. If fire breaks out and the firemen tell you not to panic and then go ahead to cut power and begin demolition does it mean they are lying or incompetent. Is positive action now a sign of incompetence. Or you prefer no action or you want to panic by force. Oya panic na.

Austerity measures is the standard operating procedure for dwindling incomes for any financial entity be it an individual, corporation or nation. Austerity simply means reducing your expenses with its attendant consequences.

I beg your pardon. What austerity measures is she putting in place - Taxes on luxury goods and expensive wines. Which means the Moet & Chanddon I drink socially will shoot up in order to cater for the bogus, extra load and overweight politicians. A man who has worked so hard and intends to get himself a Benz or a BMW will have to pay through his noses because The House of Representatives needs to collect their regular salaries.

Her austerity measures should be cutting down on the salaries of politicians and the number of aides, ministers and special advisers should be trimmed down remarkably. Likewise, the benchmark for oil price during budgeting should be within $50.

Clone2020:
When the government tells you not to panic, that's exactly when you start panicking. 'Lol OPEC is irrelevant, this cartel doesn't have the power or influence it used to have. Since 2011, U.S stopped buying Nigerian Oil. Today, oil prices are falling and it will get worse. In the past, OPEC was able to set the price in the market, whenever they had meetings everyone waited patiently for their decisions. Lol but can you believe OPEC had a meeting 2 days ago and nobody cared, the financial sectors weren't even affected. U.S is producing shale oil at an alarming rate and its only going to get higher once the Keystone Project is passed by congress. I honestly feel bad for Nigeria, our currency just got devalued due to the low oil price and its only going to get worse. This generation's youth need to write letters to all their government officials, organize protests and campaign against politicians who are so myopic not to see the incoming doom looming over Nigeria. Vote for public officials who want the economy to focus on agriculture, improvement in the nation's electricity infrastructure and establishments of industrial plants if we are to remain relevant in the next 25years.'

On track, No alternative.

The best strategy is a floating naira i.e. one that reacts to forces of demand and supply. when forex is plentiful, d naira strengthens & when forex is low,it weakens. 2nd strategy is to cut waste such as the oil subsidy and the bloated civil service

if not for stupid pdp and apc govenors the swf by now will be enough instead they went to court and shared the savings now crashing income no savings

Mad woman of mad administration. Aunt ode!

idupaul:
If I am not to be mistaken this pig of a woman, this pig looking creature has been Minister of Finance under 2 president in the last 12 years , Madam Piggy its your useless strategies that got us here in the first place and now you want us to trust ur same swine strategies to get us out , Madam you don have the fear of God at all .

NOI is a great woman, and one of the few nigerians that we should be celebrating. the problem is GEJ whose lack of leadership qualities leads to nigeria not getting the best from this woman. Contrast to obj's regime, obasanjo knew exactly what he wanted the woman to do among all the other things that are involved in the development of the country, and obasanjo placed NOI among a "team" of technocrats, politicians, businessmen, bankers lawmakers and law enforcement agencies that deliberate about economic policies to be made. Her achievements then were noticeable to all. However, making her the "prime" minister by the clueless one, and her one-man fight for the development of the country is what led us to where we are today.

Nigeria, under gej, is just on cruise control. gej's imagination can not grasp the lenght/breadth/depth of nigeria's problem (economic, political etc), he has no personal vision of where nigeria should be heading (except the ones NOI tells him) , and he does not know how to get us there

tiwiex:



Government know how to scream when price falls. $74 or $77, we were selling at $100 for amlost 10 months. What happened to the excesses. Did we feel the impact in job creation and all? No. Even with the excesses, the foreign reserve was dropping fast. So government was overspending and stealing. Burning the excess immediately and also chopping the reserve. The reserve never incresed for a day with the excesses. Now prices are low, yet we still pay the same for pump price of petrol. How come prices of petrol are not dropping? So government is even profiteering from the mess. Madam Okonjo, please stop teaching us nonsense. You guys have gotten used to selling nonsense to GEJ. Thanks to his gullibility and now you assume all Nigerians are completely dumb. For you to tell us things like this, i wonder the fubulicious stories you tell oga at the top.

That is exactly what we have been saying. Oil prices are dropping, however pump prices for fuel remains static. They tell us Subsidy is the reason. The same subsidy they share to their friends and proxies.

Now that Crude Oil price is falling
Why is petrol price not falling?

When the price of the raw material for the refine product was up, the FG claim they are subsidizing it
Are they still subsidizing petrol pump price, Now that the cost of the raw material is down
or are they now "sursidizing" it or should I say making profit from it?.

Can someone kindly explain this voodoo economic to moi. Pleeeeeeeeeeeeeeeeeeeease!