OLUJAY4REAL:


You are the "emptiest"

You are dull. You don't even know how to use quotes. Go back to school.

Whosoever still supporting this current government is insincere person. And will never be truthful in any deal

What this oil price crash fallout exposes is what I have always highlighted for years on this site, Nigerians support many bad policies whose consequences they completely are unable to associate with the policies they support. It's a knack for not knowing the relationship between cause and effect.

At the heart of our problem is that we invest too little and consume too much. Take two things - subsidy and public sector wages. At every juncture where the question has arisen as to reducing/abolishing subsidy and wages, Nigerians have always demanded that these 2 major recurrent expenses be maintained. This is seen as "sharing the wealth" and a mark of a conscientious Nigerian. The reality is that the road to hell is paved with "good intentions".

On the politics aspect, it's ironic the present hypocritical cries about the fall in Naira when only a few months ago, we had news like this:

Sept. 30 (Bloomberg) -- Nigeria’s main opposition party said it will scrap the country’s sovereign wealth fund and a separate excess crude account if it wins elections in February.

“We’re going to put a stop to them,” Lai Mohammed, a spokesman for the All Progressives Congress, or APC, said in an interview in London yesterday. “The sovereign wealth fund and the excess crude account are illegal.”

The $1.5 billion sovereign wealth fund, called the Nigeria Sovereign Investment Authority, was started in 2011, with the ruling People’s Democratic Party saying the country needed to save money for future generations. The Excess Crude Account, which stands at $4.11 billion, is used by the government to cover shortfalls in its budget and give foreign investors comfort the state can guard against a fall in the value of the currency.

Foreign investors closely monitor the excess crude account, which has helped attract high portfolio flows to Nigeria in the past two years, according to Esili Eigbe, Lagos-based head of West African research at Exotix, a frontier markets investment bank.

“Part of the reason you’re seeing a push for Nigeria is because of some of the shock absorbers,” such as the account that holds oil earnings above a budget benchmark, he said in a telephone interview. “You have to look at this in the context of the household. The household without savings is vulnerable to swings and shocks.”

http://www.bloomberg.com/news/articles/2014-09-30/nigeria-s-opposition-wants-to-scrap-sovereign-oil-funds

All economy that are dependent on oil revenue are in this mess too. So how is it the fault of GEJ?

hardbody:


I am not pro GEJ but if we have to be dispassionate, is it GEJ's fault that the price of oil has plummeted and continued heading south for an indeterminate period? Answer this question frankly. I always bow to superior argument, trust me.

I like your willingness to learn. Though the question was not directed to me and I don't know if anyone has replied you but I will still go ahead for others too to learn.

Though it was not his fault the price of oil fell but before the oil price fell, there was oil boom and Nigeria and other oil producing countries were making o whole lot of money.

Naturally when you're making a lot of money as a business man, you're supposed to save part of what you're making because of a time when you won't be making much. During the world economic melt down, Nigeria was not affected because we had(saved) enough money in our foreign reserve to cover for it.

Nigeria had the rainy days but the GEJ administration refused to save. Instead they spent the savings Nigeria had despite having 2 saving accounts viz the Excess Crude Account (ECA) and the foreign reserve.

The effect of foreign reserve on the naira:

When price of crude oil fell, the crude oil in the market were so much that buying countries can choose to buy from other countries. They take their money (Dollars as international currency)to other countries thereby making Dollars to be very scarce in our economy. The lower the quantity supplied, the higher the price. So companies that buy foreign goods in dollars can't get dollars to buy their products and if they get its always for the highest bidder.

If GEJ had saved for this time he would have just given the Min. of Finance and Central Bank gov. order to release the dollars in the reserves and the ECA to augment for the scarce ones in the economy. There wouldn't have been anything like scarce Dollars or fall in Naira.

Hope you've been able to grab how it is GEJ's fault.

Icon4s:


Sebi ur Buhari said he can stabilize the International Oil Market. All of you APC goons think alike.

Sincerely I don't think you know what u are saying @ all,if any govt can't deliver why then do we still have to leave them in power,please I will like to know just 5 positive things GEJ as done to improve the lives of citizens, with this mass retrenchment now do u know how many people will become unemployed?,Electricity NO,EMPLOYMENT NO.HEALTH SECTOR DEVELOPMENT NOTHING As been done,

I think it's best to not address someone with "sir" if you don't know their gender.

hardbody:


Ok Sir. I respect your views even if i don't agree with you, which incidentally is not the case here.

whitecat2:
I think it's best to not address someone with "sir" if you don't know their gender.

Lesson learnt. My error. Regrets.

WisdomFlakes:


I am prepared to give Buhari a chance. With 5 years of GEJ at the helm, it is evident to all what the economy and security situation has been reduced to. I shudder to imagine what a NIGHTMARE the next 4 years will be like under this same gov't, at this rate. That is the truth.

shot up ur dirty mouth Small pikin; what do u know about life?

WisdomFlakes:
With the way the economy has been tanking lately, I am still disturbed as to how anyone in their right mind would still come out and shout GEJ till whenever with a straight face.

Sentiments aside, things just can't continue like this. We need Change.

How will Buhari and his team change things? Just asking. Or is it just to shout change?

jomoh:


[b]Nigeria had the rainy days but the GEJ administration refused to save. [/b]Instead they spent the savings Nigeria had despite having 2 saving accounts viz the Excess Crude Account (ECA) and the foreign reserve.

My friend stop spewing these fatuous untruths. I would be the first to state that GEJ is an inept buffoon but claiming that "he refused to save" is a lie too far. Inspite of his ineptitude, economic and agricultural policies are 2 areas where I give him some credit, or rather NOI and Adesina.

Please see the article I posted earlier - when you say he "refused" to save, refused whose requests for savings? Is it the opposition who were playing to popular opinion by demanding that we stopped saving or the Nigerian public who believe that oil is manna from heaven that must be spent immediately on wage increases and subsidy?

Sept. 30 (Bloomberg) -- Nigeria’s main opposition party said it will scrap the country’s sovereign wealth fund and a separate excess crude account if it wins elections in February.

“We’re going to put a stop to them,” Lai Mohammed, a spokesman for the All Progressives Congress, or APC, said in an interview in London yesterday. “The sovereign wealth fund and the excess crude account are illegal.”

The $1.5 billion sovereign wealth fund, called the Nigeria Sovereign Investment Authority, was started in 2011, with the ruling People’s Democratic Party saying the country needed to save money for future generations. The Excess Crude Account, which stands at $4.11 billion, is used by the government to cover shortfalls in its budget and give foreign investors comfort the state can guard against a fall in the value of the currency.

Foreign investors closely monitor the excess crude account, which has helped attract high portfolio flows to Nigeria in the past two years, according to Esili Eigbe, Lagos-based head of West African research at Exotix, a frontier markets investment bank.

“Part of the reason you’re seeing a push for Nigeria is because of some of the shock absorbers,” such as the account that holds oil earnings above a budget benchmark, he said in a telephone interview. “You have to look at this in the context of the household. The household without savings is vulnerable to swings and shocks.”

Has the no one citizen declared his
what country nigeria.

I am not sorry for most of them because they were all supporting a regime of failure.
Blind people following stupid crooks because of tribal considerations. They have stolen the country blind. External reserves 're down and there is no more money in ECA. Oil price will be below $60 a barrel for most of 2015 and power generation will also be low because of a wrongly executed power program so manufacturers will have to shed weight as well. Most countries who don't have our population load were even more clever building reserves when the oil price was +$100 per barrel.

All the sentimental supporters would have to eat Jonathan's picture and Mama Piss' s portrait.

God will forgive me but am not sorry just sad that people couldn't smell shit be cause it was their relative shutting it.

No problemo!

hardbody:


Lesson learnt. My error. Regrets.

hardbody:


I am not pro GEJ but if we have to be dispassionate, is it GEJ's fault that the price of oil has plummeted and continued heading south for an indeterminate period? Answer this question frankly. I always bow to superior argument, trust me.

Guy, GEJ got it wrong since when he took power, OBJ was busy saving money frm excess crude oil so dat wen it drops d money can be used to protect the naira frm falling this way. Now ask GEJ what he did with all the money ($41B) OBJ safed for us, what happen the the fuel subsidy(SUREP)? With this u will agree with me dat GEJ failed as a manager of resources and also a good politician. Let me remind u, all the railway dat GEJ is commissioning it was OBJ who started it cos when the deal was signed it was shown live on the network station dat was 2006. So GEJ has done nothing.

temitemi1:
Yepaa!!

And U will still come out and shout GEJ till 2019... D poor citizens of these country shall start rejoicing from may 29 when Buhari is sworn in...

This is the direct effect of APC's threat of running a parallel government which has made foreign investors to pull out their funds because of the uncertainty which may arise after the election as no investor wants to take such risk.

This is exactly what Buhari and Northern elders did when they came out with their campaign of "a fight against BH is a fight against the north" see what BH has cuased this country today. See what a threat of parallel government is causing to business men and women and what is about causing our fellow Nigerian all because of greed for power.

APC has always caused problems for Nigeria from its inception. Only ignorant Nigerians keep shouting "change". Change of destruction. Mtchewwww.

Empredboy:
Guy, GEJ got it wrong since when he took power, OBJ was busy saving money frm excess crude oil so dat wen it drops d money can be used to protect the naira frm falling this way. Now ask GEJ what he did with all the money ($41B) OBJ safed for us, what happen the the fuel subsidy(SUREP)? With this u will agree with me dat GEJ failed as a manager of resources and also a good politician. Let me remind u, all the railway dat GEJ is commissioning it was OBJ who started it cos when the deal was signed it was shown live on the network station dat was 2006. So GEJ has done nothing.

I am not holding brief for him or his competitor in the Nigerian project. I hear you. Your views are yours so hold them tight.

hardbody:


I am not pro GEJ but if we have to be dispassionate, is it GEJ's fault that the price of oil has plummeted and continued heading south for an indeterminate period? Answer this question frankly. I always bow to superior argument, trust me.

If I may ask you whose fault is it... A reasonable government would have prepared for this day so don't even go there... After all crude oil price has droped and we are still paying high....

muh4lyf:
If I may ask you whose fault is it... A reasonable government would have prepared for this day so don't even go there... After all crude oil price has droped and we are still paying high....

The gentleman i quoted and a few others have made reasonable and verifiable comments. Are you by any intent trying to find a sparring partner because you have really said nothing. I maintain as always that i am not politically inclined and not interested in either of your mediocre presidential contestants. I like to aŕgue on the merits of each case. If you have nothing meaningful to say, may i suggest you pitch your tent elsewhere. Thanking you in advance.

hardbody:


The gentleman i quoted and a few others have made reasonable and verifiable comments. Are you by any intent trying to find a sparring partner because you have really said nothing. I maintain as always that i am not politically inclined and not interested in either of your mediocre presidential contestants. I like to aŕgue on the merits of each case. If you have nothing meaningful to say, may i suggest you pitch your tent elsewhere. Thanking you in advance.

I am very sure I never in anyway insulted you or support any of the presidential candidates,I just tried to make my point clear. I said and repeat,reasonable government would have envisaged for this happening. It's only here in Nigeria people think criticzing a government is asking for too much... So please don't insult me cos I never insulted you...

We re not saying the drop in oil price is gej's fault.The main problem is that gej's regime has depleted our foreign reserve,if not the devaluation wouldn't have been this much thank you.uth=hardbody post=31146078]

I am not pro GEJ but if we have to be dispassionate, is it GEJ's fault that the price of oil has plummeted and continued heading south for an indeterminate period? Answer this question frankly. I always bow to superior argument, trust me.[/quote]

stevecantrell:
]

Its tough but we will conquer this madness. If Nigeria beat ebola we will also cure people like the one below.

c Thanks guy. You spoke my mind. I almost cursed the oloriburuku but had to restrain myself. How could a reasonable being open their stench-filled mouth and scream that discordant phrase with the socio-political abyss Jonathan has plunged the country into? It's worrisome honestly! Anyways, it is change we want and the change we must get. Sai Buhari 2015-2019 or even more!

A biz man told me abo.kis don hold back dollar till after election.

Rubish, r thy paid in dollar?

Oil money, Nigeria oil money make una chop oil nah.

muh4lyf:
I am very sure I never in anyway insulted you or support any of the presidential candidates,I just tried to make my point clear. I said and repeat,reasonable government would have envisaged for this happening. It's only here in Nigeria people think criticzing a government is asking for too much... So please don't insult me cos I never insulted you...

Please show me the insult in my post to you...

I am waiting

WisdomFlakes:
With the way the economy has been tanking lately, I am still disturbed as to how anyone in their right mind would still come out and shout GEJ till whenever with a straight face.

Sentiments aside, things just can't continue like this. We need Change.

Leave them! They deflect from addressing economic issues and just occupy us with pedestrian things and amazingly, quite a lotta folks remain deceived

whitecat2:
I think it's best to not address someone with "sir" if you don't know their gender.

Then assign a gender on your profile. 'Sir' is the most appropriate for a genderless user in this section.

WisdomFlakes:
With the way the economy has been tanking lately, I am still disturbed as to how anyone in their right mind would still come out and shout GEJ till whenever with a straight face.

Sentiments aside, things just can't continue like this. We need Change.

And you think Buhari is the one that can bring the change








It is true things got to change,,,no one has disputed that fact,,unfortunately jonathan has no good opponent to compete with him in this race........therefore he must continue..

Who knows, by the time his 4yrs will be over,,then buhari has passed the age ,,then we could get a fresh person..

People just shout change but with the wrongest person(permit my english),,,...

Hope all is well with you?

coldFLARES1:
Leave them! They deflect from addressing economic issues and just occupy us with pedestrian things and amazingly, quite a lotta folks remain deceived

While we are gearing up for austerity.

Saudi is giving out $32 billion dollars to its citizens.

When has Nigeria ever done such?


http://mobile.nytimes.com/2015/02/20/world/middleeast/saudi-king-unleashes-a-torrent-as-bonuses-flow-to-the-masses.html?referrer=&_r=0