grandstar:
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

That is how it should be but if allowed Naira will hit N200 for a dollar. We import a lot so CBN has to intervene. We can do what Ghana did re-decimanization of the naira but that will not solve the problem. If we really want to strength our naira, the answer is PRODUCE PRODUCTS OTHER COUNTRIES WOULD PURCHASE.

All of a sudden everyone here is an expert financial analyst.

It's all very easy to solve problems from the outside, that's why everybody and their mamas are making all kinds of comments here.

Am not surprised @ all..this is what happens when talents are under a junk like GEJ...you give birth to 'mismanagement'..In other news, Gas don finish for house o! Waiting of our supply of GEJ's N9.2B stove ..Awon Oniranu Oshi

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.'

This generation have had it good. How many can remember that in 1999 oil was $11 a barrell. During my youth in the 80's early 90's oil only went above $30 once, that was during the first gulf war. It is a massive shame that all the mega money earned from high oil price in the last decade has not been used to really develop the nations infrastructure. If by now we had constant power supply, high speed rail lines and modern high bandwidth communications across the land, the price of oil would be incidental, as an industrial revolution would have already taken off. Such a shame.

Gradually.......Ngozi have metamorphosized into GEJ character.....fooling Nigerians at every given opportunity.

No need to panic but allowances and salaries are being cut...Nonsense!

JonBee1:
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!

H-E-L-P!

anonimi:


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 =>



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



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.

Yes we need to be flogged mercilessly to Discipline. This country is going down.

Funny enough most people here don't know the reason why OPEC had agreed to allow the price of oil remain low but would rather just speak anyhow. They agreed not to reduce production because they don't want Americas shale oil to be profitable which would be profitable at 100 dollars, thereby making America and others abandon their long time plan for shale oil. It would affect some OPEC country but the strategy is to make sure that OPEC nation would continue to be the major oil bloc in the world.

musicwriter:


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.

Science will help Africa. Science will help Africa. That has been the daily smart mantra of the average graduate. Lip service.
Is it not ironic this is coming from you-MUSICWRITER.
Change your name now to SCIENCEWRITER.
And be a model in your own capacity to our misdirected youths who are future hope for the much prayed economic turn around which will never come if our present youth are busy learning or singing music and hustling to appear in one music reality show like Project fame or idols.
I'd written this in some papers years ago.
We need reality shows that support science and innovation to lift our economy. Not music.
Music and entertainment is for the comfortable.
US and UK can afford it. Not Nigeria.

Ww need a paradigm shift out of this mental madness.

ellguapo:
^^^
Lol. Most times the high positions bestowed on Africans are mere charade, they put them there as puppet in order to have maximum grip on their economical interest in the regions. Normal western shenanigan

Exactly, very dumb silly rogue of a woman.
GEJ TILL 2015.

Why wont we panic madam world bank? This situation simply mean that this niggas will steal all remaining nothing for us to even manage. Please God save your people. This niggars want to eat us uncooked. Help Help Help Help us God.

ayukdaboss:

Yes we need to be flogged mercilessly to Discipline. This country is going down.

Kindly speak for yourself.
I do NOT need to be flogged to be disciplined as I am a human being EQUALLY endowed like other races who do NOT need to be flogged to do the right thing.

This country WENT down because those who flogged OTHERS mercilessly to discipline them were very UNDISCIPLINED themselves- Do As I say, not as I do leaders looters.

To me up with this the government should reduce and cut the allowances of all it top officials starting from the president to d local chairman....lead by example and to to add extra tax to the common man who doesn't even know the price of air ticket talk more of crude oil......if our leader no change we are heading for the rock cos even oil go finish one day make dem go china and arab go see what the call development and no b to dey spend 9.2 for common stove.....there is God oooooooo

These people are crazy. I priced Note 4 last week at 125k Today it's 130k.

bugs1:


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

They always have strategies.

madjune:


Science will help Africa. Science will help Africa. That has been the daily smart mantra of the average graduate. Lip service.
Is it not ironic this is coming from you-MUSICWRITER.
Change your name now to SCIENCEWRITER.
And be a model in your own capacity to our misdirected youths who are future hope for the much prayed economic turn around which will never come if our present youth are busy learning or singing music and hustling to appear in one music reality show like Project fame or idols.
I'd written this in some papers years ago.
We need reality shows that support science and innovation to lift our economy. Not music.
Music and entertainment is for the comfortable.
US and UK can afford it. Not Nigeria.

Ww need a paradigm shift out of this mental madness.

I feel good each time I see people of this school of thought. Your wish will be done!. Thank you.

TheNaijan:

Always she is saying no cause for alarm...Next Government increases taxes (on imported items, etc)...Next they'd not be able to keep-up with the wage demands..Next unemployment rate increases...and all that...How can a nation that depends wholly on oil exports not be affected when oil prices decline? Nigeria would clearly face a harsh economic time if a miracle doesn't happen (do the math) and Okojo whatever should stop giving Nigerians false hope--come on-she should be better than that- every Nigerian is not a fool...just saying... #NoOffense #Peace

Thanks for this 'message of warning'; this is something I've been trying to tell other Nigerians, but they fail to listen. This is not good times for crude oil producers who are solely dependent on crude for revenues, and worse-still, have done a poor job at saving their excess revenues.

I read somewhere that, "In the time of price booms, Nigeria had been dancing [/b]Shoki[b] with it's reserves, instead of saving for the future"

RicKyRichards:
And the Saudi's just blocked plans to cut OPEC's output.

Apparently Saudi Arabia wants to punish oil dependent Russia and Iran for supporting Assad of Syria. This policy can cripple the Kremlin

shebbi Tambdumbwal was insisting that it should be pegged at 80usd/barrel. can he now see the 'wisdom' in his foolhardiness?
They go around calling themselves 'Progressives'.

[deleted]

musicwriter:


I feel good each time I see people of this school of thought. Your wish will be done!. Thank you.

MUSICWRITER now called SCIENCEWRITER, verily I say unto you, "tonite, we shall dine in paradise."

May God save us from Okonjo Madness. Amen.

na until Jonathan destroy everything our eyes go come down

I say Enough is Enough

Let us Punish them all with our votes!

-Bigboluet

grandstar:
Apparently Saudi Arabia wants to punish oil dependent Russia and Iran for supporting Assad of Syria. This policy can cripple the Kremlin

Oh dear! And with ISIS selling on the cheap. Doesn't look too good.

ellguapo:
^^^
Lol. Most times the high positions bestowed on Africans are mere charade, they put them there as puppet in order to have maximum grip on their economical interest in the regions. Normal western shenanigan

why then are you not up there as a puppet? Or is it that you are not even good enough to be a puppet? Just asking.

Let the prices come crashing down.

This is the time to create new Billionaires..

Another untruth from the coordinating ever expanding Minister.
When things get suitably hot she will make her excuses, jump ship and blame everyone else.

Boss13:


That is how it should be but if allowed Naira will hit N200 for a dollar. We import a lot so CBN has to intervene. We can do what Ghana did re-decimanization of the naira but that will not solve the problem. If we really want to strength our naira, the answer is PRODUCE PRODUCTS OTHER COUNTRIES WOULD PURCHASE.

bro do u think they do not know...especially the bolded in your line? They do but do not care.If they do stable and sufficient power ( electricity) would be their top priority.
All they care about is to loot from hone and stash into private investments abroad. Bastards in Power..male and female alike

anonimi:


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 =>



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



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.

As far as I know, your only role on Nairaland is to divert criticisms of anybody in the FEC to the Senators, Governors and LGAs.
This is a thread talking about dire consequences to the economy and you're still desperately trying to paint the FEC folks as blameless saints.

Is there something wrong with you? Do you enjoy destroying and devaluing your own country?

ridgeman:
Another untruth from the coordinating ever expanding Minister.
When things get suitably hot she will make her excuses, jump ship and blame everyone else.

shes already ditching the sinking ship called Nigeria with woeful economic policies shes part and parcel of.

Dont blame me for naira devaluation -Ngozi
http://www.punchng.com/i-punch/dont-blame-me-for-naira-devaluation-okonjo-iweala/