Exchange rates: Euro now 288 Dollar now 275 Pound 405

OMG!!! At this rate #1000 might be equal to $1 by the year 2020

Nigeria is finish

This country is drowning faster than an underwater vessel. No clear cut economic blueprint from this administration yet. Who has seen the minister of Finance?

Please house, i have two $1 notes, how much can it be exchanged for?

Tolupage:
OMG!!! At this rate #1000 might be equal to $1 by the year 2020

...2020 is eternity. A $ will be #1000 in 2016...

Old2020:
This country is drowning faster than an underwater vessel. No clear cut economic blueprint from this administration yet. Who has seen the minister of Finance?

[b]Oh dear, ignorant people keep shouting economic blueprint as if an economic blueprint can perform a miracle and turn fortunes around instantly even with the prevalent rock-bottom oil prices?...

Funny thing is that it is mostly PDP agents and PDP supporters that have been shouting 'economic blueprint,' an economic blueprint which they could not implement in 16 years, an economic blueprint they could not apply in the last 5 years of plenty when oil prices where averaging $100 per barrel. The moment oil prices dropped in November 2014, the first thing the PDP did was to officially devalue the naira. Oil prices fell to ~$65 per barrel as at May 2015 when PDP was still in charge yet the exchange rate at the parallel market as at May 29th was in the range of N251 to $1; the almighty PDP magicians could not apply this wonderful economic blueprint.

Now they keep shouting that this administration is not applying 'economic blueprint' to magically turn the slumping Naira instantly when oil prices have just dropped to an 11-year low of below $35.

For anyone that cares to know, there is absolutely nothing that can be done to stop the continuous nosedive of the Naira in the short term, oil prices are rock bottom and Nigeria hardly has any other means of foreign exchange earnings. Enough of this political baseless rants about 'economic blueprint.'[/b]

Abeg, Lai Mohammed give us one propaganda ..

..If na last year, person no go hear word for you with calls for resignation ..

Governance no be beans ..

obailala:
[b]Oh dear, these ignorant people keep shouting economic blueprint. An economic blueprint that would perform a miracle and turn fortunes around instantly right?...

Funny thing is that it is mostly PDP agents and PDP supporters that have been shouting 'economic blueprint,' an economic blueprint which they could not implement in 16 years, an economic blueprint they could not apply in the last 5 years of plenty when oil prices where averaging $100 per barrel. Oil prices fell to ~$65 per barrel as at May 2015 when PDP was still in charge yet the exchange rate as at May 29th was in the range of N251 to $1 and the almighty PDP magicians could not apply this wonderful economic blueprint.

Now they keep shouting that this administration is not applying economic blueprint to magically turn the slumping Naira value instantly when oil prices have just dropped to below $35.

For anyone that cares to know, there is absolutely nothing that can be done to stop the continuous nosedive of the Naira in the short term, oil prices are rock bottom and Nigeria hardly has any other means of foreign exchange earnings. Enough of this political baseless rants about 'economic blueprint.'[/b]

Crap ..

..Something can be done to save the naira ..

..If the handlers of the economy is at loss and cluelessly incompetent, let them give way for smart brains ..

Again, I can save the naira ..quote me anywhere

yeye country

dunkem21:


Crap ..

..Something can be done to save the naira ..

..If the handlers of the economy is at loss and cluelessly incompetent, let them give way for smart brains ..

Again, I can save the naira ..quote me anywhere

Bring up your suggestions then... Some official APC members are on this forum, maybe they can take up your suggestions and forward it to the present economic team. Even the almighty NOI and her wonderful international economic team could not come up with any economic blueprint to save the naira at the very instance that the oil prices crashed. Now the oil price has crashed even double and the naira continues to plunge further and something which NOI and co couldn't do a thing, you expect the 'mere' commisioner Kemi to perform a miracle?

obailala:
Bring up your suggestions then... Some official APC members are on this forum, maybe they can take up your suggestions and forward it to the present economic team. Even the almighty NOI and her wonderful international economic team could not come up with any economic blueprint to save the naira at the very instance that the oil prices crashed.

I have one problem .. After using the idea, they won't even care to acknowledge the source or even give an oral appreciation ..


INEC and JEGA is guilty of this ..

dunkem21:


I have one problem .. After using the idea, they won't even care to acknowledge the source or even give an oral appreciation ..


INEC and JEGA is guilty of this ..

Lol... Bro, you are a Nigerian, bring it and God will surely reward you abundantly. Or do you like seeing your countrymen and neighbours suffering?

thank God the zoo is crumbling

obailala:
Lol... Bro, you are a Nigerian, bring it and God will surely reward you abundantly. Or do you like seeing your countrymen and neighbours suffering?

I like your maturity and will give the issue a deep thought ..

Again, Thanks.

obailala:
[b]Oh dear, ignorant people keep shouting economic blueprint as if an economic blueprint can perform a miracle and turn fortunes around instantly even with the prevalent rock-bottom oil prices?...

Funny thing is that it is mostly PDP agents and PDP supporters that have been shouting 'economic blueprint,' an economic blueprint which they could not implement in 16 years, an economic blueprint they could not apply in the last 5 years of plenty when oil prices where averaging $100 per barrel. The moment oil prices dropped in November 2014, the first thing the PDP did was to officially devalue the naira. Oil prices fell to ~$65 per barrel as at May 2015 when PDP was still in charge yet the exchange rate at the parallel market as at May 29th was in the range of N251 to $1; the almighty PDP magicians could not apply this wonderful economic blueprint.

Now they keep shouting that this administration is not applying 'economic blueprint' to magically turn the slumping Naira instantly when oil prices have just dropped to an 11-year low of below $35.

For anyone that cares to know, there is absolutely nothing that can be done to stop the continuous nosedive of the Naira in the short term, oil prices are rock bottom and Nigeria hardly has any other means of foreign exchange earnings. Enough of this political baseless rants about 'economic blueprint.'[/b]

Please close your mouth

If you think the situation can't be reversed, then your secondary school need to refund your school fees


What Nigeria needs now is to diversify her economy which can speedily be achieved through True Federalism

Once Nigeria diversify her economy, we will be able to export several non oil products which will see dollar flow into our reserve.

now is the time for somebody from abroad to send me £1500 as a Christmas present!

dunkem21:


I have one problem .. After using the idea, they won't even care to acknowledge the source or even give an oral appreciation ..


INEC and JEGA is guilty of this ..

True

But

The greatest reward comes from God especially when it is done without intention of being praised but with the intention of people benefitting from it.

Pidggin:
What is this? With all the kwaruption allegation this APC government is accusing the PDP of, in 16 years our currency was never this bad, Buhari, please humble yoursle and ask for madam Ngozi's help.

Stop deceiving yourself ma'am or maybe stop allowing yourself to be deceived by dubious politicians and political analysts. Are you comparing an average oil price of $100/barrel to the present $35/barrel?... Does that make any sense by your own judgement?

The nation enjoyed steady high oil prices at average of $100/barrel for 5 straight years, oil prices began to slump in November 2014 and by December 2014, the CBN officially devalues the naira from N155 to N198 (official). And even though the official still remained N198, as at May 29th when GEJ and his wonderful economic team headed by NOI were handing over, oil prices were even still at $65/barrel, but the naira at the parallel market had slumped to N251.

Today the oil price is $35 barrel (an 11-year low) and Nigeria hardly has any other source of foreign exchange earnings except oil, and you dare to blame the present administration for the crash of the naira?

EternalTruths:


Please close your mouth

If you think the situation can't be reversed, then your secondary school need to refund your school fees


What Nigeria needs now is to diversify her economy which can speedily be achieved through True Federalism

Once Nigeria diversify her economy, we will be able to export several non oil products which will see dollar flow into our reserve.

And so says the scholar who went to a secondary school, that the economy can be automatically diversified instantly to fill in the funds gap created by lost oil revenue in 7 freaking months?... 7 months?... Why dont you clap for your peculiar wisdom?

The news sounds fantastic. But then, when you look at the hardship it puts majority of the people the excitement fades away.

obailala:
Stop deceiving yourself ma'am or maybe stop allowing yourself to be deceived. Are you comparing an average oil price of $100/barrel to the present $35/barrel?... Does that make any sense by your own judgement?

The nation enjoyed steady high oil prices at average of $100/barrel for 5 straight years, oil prices began to slump in November 2014 and by December 2014, the CBN officially devalues the naira from N155 to N198 (official). And even though the official still remained N198, as at May 29th when GEJ and his wonderful economic team headed by NOI were handing over, oil prices were even still at $65/barrel, but the naira at the parallel market had slumped to N251.

Today the oil price is $35 barrel (an 11-year low) and Nigeria hardly has any other source of foreign exchange earnings except oil, and you dare to blame the present administration for the crash of the naira?

Yes we put the blame on APC

Buhari is a Northerner who can convince his people to embrace True Federalism and they will agree.

Instead of doing that, he made himself petroleum minister

obailala:
Stop deceiving yourself ma'am or maybe stop allowing yourself to be deceived. Are you comparing an average oil price of $100/barrel to the present $35/barrel?... Does that make any sense by your own judgement?

The nation enjoyed steady high oil prices at average of $100/barrel for 5 straight years, oil prices began to slump in November 2014 and by December 2014, the CBN officially devalues the naira from N155 to N198 (official). And even though the official still remained N198, as at May 29th when GEJ and his wonderful economic team headed by NOI were handing over, oil prices were even still at $65/barrel, but the naira at the parallel market had slumped to N251.

Today the oil price is $35 barrel (an 11-year low) and Nigeria hardly has any other source of foreign exchange earnings except oil, and you dare to blame the present administration for the crash of the naira?

naira has not crashed!
the PMB administration is only at fault for not assembling an economic team to face the economic issues as it concerns Nigeria.
thereby averting unnecessary aspersion

obailala:
And so says the scholar who went to a secondary school, that the economy can be automatically diversified instantly to fill in the funds gap created by lost oil revenue in 7 freaking months?... 7 months?... Why dont you clap for your peculiar wisdom?

Yes it can be changed in 6months if Buhari supports True Federalism rather than being petroleum minister


True Federalism will speed up diversification of our economy

obailala:
[b]Oh dear, ignorant people keep shouting economic blueprint as if an economic blueprint can perform a miracle and turn fortunes around instantly even with the prevalent rock-bottom oil prices?...

Funny thing is that it is mostly PDP agents and PDP supporters that have been shouting 'economic blueprint,' an economic blueprint which they could not implement in 16 years, an economic blueprint they could not apply in the last 5 years of plenty when oil prices where averaging $100 per barrel. The moment oil prices dropped in November 2014, the first thing the PDP did was to officially devalue the naira. Oil prices fell to ~$65 per barrel as at May 2015 when PDP was still in charge yet the exchange rate at the parallel market as at May 29th was in the range of N251 to $1; the almighty PDP magicians could not apply this wonderful economic blueprint.

Now they keep shouting that this administration is not applying 'economic blueprint' to magically turn the slumping Naira instantly when oil prices have just dropped to an 11-year low of below $35.

For anyone that cares to know, there is absolutely nothing that can be done to stop the continuous nosedive of the Naira in the short term, oil prices are rock bottom and Nigeria hardly has any other means of foreign exchange earnings. Enough of this political baseless rants about 'economic blueprint.'[/b]

Shut up!

Is today the first time oil is falling to $35? Did oil not fall from $145 to $32 in one year in 2008? Did the PDP government of Umaru Musa Yar'Adua (may his soul rest in peace) not handle the situation better than the current APC government of PMB is doing presently?

And then the whole world was in a financial mess. Hundreds of thousands of people lost their jobs in America. The European fell into crisis, and more than 10 countries in the EU needed bailout including giants like Italy and Spain. Even till this day the EU is not out of the mess, there are widespread reports that a growing percentage of women in Greece prostitute themselves for food not even money because of economic hardship.

Even here in Africa, SA felt the punch. But Nigeria stood tall. I remember the CBN bolstering our banks with $5b in bailout funds, and all-round the economy cushioned the effects of the global financial crisis and the plunge in oil prices. Do you know why? Because the coordinator of the economy then was GEJ as the vice president and sound economic policies were made.

So you, PMB, and APC should shut your mouths. Your asses will be jealous of the amount of shit that come out of your mouth.

GEJ left a $35b reserve and a foreign debt ratio of 12 percent. If PMB cannot use that to cushion the effect of falling oil prices then he is USELESS. We could as well declare the office of the presidency vacant.

I'm sick of the lies you guys are peddling. I'm out for you bunch.

-Lord

ireasontight:
thank God the zoo is crumbling

A very wonderful way to reason for people who call themselves 'Children of God'... and then I wonder the kind of god they refer to.

Do unto others what you wish they do unto you. Before Nigeria crumbles as a nation, have you imagined you and your own family may have crumbled long before?... Wisdom is truly rare.

EternalTruths:


Yes we put the blame on APC

Buhari is a Northerner who can convince his people to embrace True Federalism and they will agree.

Instead of doing that, he made himself petroleum minister

there is nothing wrong if PMB exercises his executive authority to be the minister of petroleum.
and your screaming federalism will not make the price of oil jump to $150 per barrel.
but one thing is sure,if the administration at the federal,state levels see this time as an opportunity to develop other resources through active private lead development and growth.
Nigeria's economy will sustain its 7%-9% growth

LordAdam:

Shut up!
Is today the first time oil is falling to $35? Did oil not fall from $145 to $32 in one year in 2008? Did the PDP government of Umaru Musa Yar'Adua (may his soul rest in peace) not handle the situation better than the current APC government of PMB is doing presently?
And then the whole world was in a financial mess. Hundreds of thousands of people lost their jobs in America. The European fell into crisis, and more than 10 countries in the EU needed bailout including giants like Italy and Spain. Even till this day the EU is not out of the mess, there are widespread reports that a growing percentage of women in Greece prostitute themselves for food not even money because of economic hardship.
Even here in Africa, SA felt the punch. But Nigeria stood tall. I remember the CBN bolstering our banks with $5b in bailout funds, and all-round the economy cushioned the effects of the global financial crisis and the plunge in oil prices. Do you know why? Because the coordinator of the economy then was GEJ as the vice president and sound economic policies were made.
So you, PMB, and APC should shut your mouths. Your asses will be jealous of the amount of shit that come out of your mouth.
GEJ left a $35b reserve and a foreign debt ratio of 12 percent. If PMB cannot use that to cushion the effect of falling oil prices then he is USELESS. We could as well declare the office of the presidency vacant.
I'm sick of the lies you guys are peddling. I'm out for you bunch.
-Lord

Instead of Buhari to kill the lust the North has for Southern oil, he made himself petroleum minister and invested 35billion naira in searching for oil in the North.

Penny wise pounds foolish

baralatie:

there is nothing wrong if PMB exercises his executive authority to be the minister of petroleum.
and your screaming federalism will not make the price of oil jump to $150 per barrel.
but one thing is sure,if the administration at the federal,state levels see this time as an opportunity to develop other resources through active private lead development and growth.
Nigeria's economy will sustain its 7%-9% growth

Even if the price of oil falls to $10 / barrel, once True Federalism is embraced other resources will be fully exploited at state levels leading to economic diversification

EternalTruths:



Even if the price of oil falls to $10 / barrel, once True Federalism is embraced other resources will be fully exploited at state levels leading to economic diversification

federalism is not your problem right now!
Nigeria is way beyond that level.
now is about "Practical" instant sustainable economic solution that should have been in place.