My brother i really don't know why we love to get flimsy excuses and claims to back up our mess ups!!!

wilcox:
Is this supposed to console us or what? So our incessant borrowing should be justified just because Saudi Arabia borrowed as well. Please what is the state of economy compared to Saudis economy? We seem to be on the wrong part as a nation but will always look excuse to clinch onto.

Dottune:
Omo the guys above dey use 4G LTE of Ntel.... see speed.

Well to the topic, this goes to show that is not only Nigeria that is suffering from the Low Oil prices, for Saudi Arabia to be seeking external, how much more Nigeria?
And some people will just come and bash Buhari without thinking logically, just because they want him to fail. Whether you like it or not, he won't Fail!

Let's talk fact and let sentiment lie low, because we are all on the receiving end. What is Saint Buhari doing to diversify the economy.

ok

Henry240:
Meanwhile, Saudi Arabia’s foreign reserves is US$640 billion as of the end of October 2015.


@Amagunnerfan, what's your country's reserve?

Let's ask GEJ. He should know.

I was actually waiting for this, and imagining how can Saudi Arabia boast that even if crude comes down as low as $20, it wont cut its production. All my thots was that, does that mean Saudi Arabia only spend 10% of its revenue? But Alas, it isn't sooo.

I will rather advice the Saudi government to cut down its Father Xmas on its citizens.

How i wish i am Saudi citizen with this level of my professionalism

Henry240:
Meanwhile, Saudi Arabia’s foreign reserves is US$640 billion as of the end of October 2015.


@Amagunnerfan, what's your country's reserve?

How much did GEJ leave behind? How much did he meet? That should be the real question.

fulanimafia:
The crash in oil price dealt a huge blow to the economies of oil producing countries, so much that even Saudi Arabia with a more diversified economy is seeking external relief from its aftermath, talk more of a country like Nigeria that's almost totally dependent on oil revenue.

However the sad and unfortunate truth is that Nigeria had a chance to save for the rainy day when oil sold for over $130 per barrel under the ineffectual buffoon Jonathan, who looted and wasted it on ogogoro and his failed re-election bid, while opening the barn for the rest of his goats to have their fill.

Of course the wailers and iPod 'yoots' will always ignore the glaring fact and instead prefer to vent their frustration on PMB whenever he mentions borrowing to find our deficits. God bless Buhari as he continues to clean up the mess of their defeated hero.

Russia would have been a better example. Saudi Arabia's economy is not diversified.

anigbajumo:
[bI laugh in Chinese,the wailer are nothing but bunch of fools.can you see yer life nw??

Drastic fall in price of oil globally does not affect only Nigeria bt other oil dependent countries.

Despite Saudi privatized her property worth of over 200million$ some month ago,they still seek for loan.

I still bliv in PMB. . fuk yer wailer.[/b]

Another zombie Eeeh
Have you been there b4?
Can't you see the massive infrastructure that needs supporting? A country where %70 of its workforce are foreigners. And do not even produce toot pick.guy bend.

wilcox:
Is this supposed to console us or what? So our incessant borrowing should be justified just because Saudi Arabia borrowed as well. Please what is the state of economy compared to Saudis economy? We seem to be on the wrong part as a nation but will always look excuse to clinch onto.

If we don't borrow as it is now, how do we fund the economy? That the stark reality staring us in the face.

swtdrms:
I was actually waiting for this, and imagining how can Saudi Arabia boast that even if crude comes down as low as $20, it wont cut its production. All my thots was that, does that mean Saudi Arabia only spend 10% of its revenue? But Alas, it isn't sooo.

I will rather advice the Saudi government to cut down its Father Xmas on its citizens.

How i wish i am Saudi citizen with this level of my professionalism

Oga me tooo.cos those guys lazy dhaaaaa

amagunnerfan:
How much did GEJ leave behind? How much did he meet? That should be the real question.

Do you have a deficiency in understanding questions?



I asked you, what's your country's reserve?

The reality is now beginning to hit all and sundry.

The years of the seven fat cows are gone; now is the years of the seven gaunt cows.

Nigeria needs to diversify or face deletion. Everybody depending on oil should change his or her perspective on the economy.

Nigeria has failed to sow when there was plenty, we were continually deceived by topshots in Oil and Gas that building a refinery is a waste. We exported every potential of creating wealth for our people abroad. Oil refining, toothpick production, even food farming was exported; we failed to encourage our engineers, our graduate horticulturists, etc.

It's not just Buhari and Jonathan, everybody must be involved. The time of free money is over, austerity measures and pragmatic solutions is what we need.

erico2k2:

Another zombie Eeeh
Have you been there b4?
Can't you see the massive infrastructure that needs supporting? A country where %70 of its workforce are foreigners. And do not even produce toot pick.guy bend.

Shut up!! If the loan is properly managed,then we are good to go.....managerial issue is what we lack in this country. I bliv pmb will work effectively on that if this happens to Nigeria.

fulanimafia:
The crash in oil price dealt a huge blow to the economies of oil producing countries, so much that even Saudi Arabia with a more diversified economy is seeking external relief from its aftermath, talk more of a country like Nigeria that's almost totally dependent on oil revenue.

However the sad and unfortunate truth is that Nigeria had a chance to save for the rainy day when oil sold for over $130 per barrel under the ineffectual buffoon Jonathan, who looted and wasted it on ogogoro and his failed re-election bid, while opening the barn for the rest of his goats to have their fill. Imagine, S/Arabia had $640 Billion in their own reserves as as October 2015.

Of course the wailers and iPod 'yoots' will always ignore this glaring fact and instead prefer to vent their frustration on PMB whenever he mentions borrowing to fund our deficits.

God bless President Buhari as he continues to clean up the mess of their defeated hero.

You couldn't have scripted this any better.

OP you can dig up anything to back this current APC chains but the painful truth is that here you see the Saudis planning for their economy, budget, trying to balance out. Our government is still obsessed with dealing with people which I'm not saying is wrong but if you were a mother, would you spend your whole time fleeting the room against mosquitoes and have no time to prepare food for your kids? At least your kids were seeing food when the mosquitoes were everywhere.

I think No1 agenda for this government should be the economy not corruption. Fighting corruption is okay but if you catch all the thieves in this country while people are starving who will clap for you?

When you make common sense they brand you a wailer. No wahala. The hunger dey go round. The wailing community is increasing daily

Proud wailer.
At least I know I'm not lying to myself. Hope you can say the same for yourself

Saudi Arabia borrowing can be termed strategic, just like America that has over 3 months supply of crude oil yet they keep on increasing there storage capacity, while Nigeria can not boast of even 1 week storage. The problem is that Nigerian borrowing is from desperation due to the dwindling foreign exchange... Beyond that most oil resource nation suffer from resource curse syndrome.. low or zero industrialization bases, lack of creativity from the leadership to the masses, poor policy formulation and implementation etc...

fulanimafia:
The crash in oil price dealt a huge blow to the economies of oil producing countries, so much that even Saudi Arabia with a more diversified economy is seeking external relief from its aftermath, talk more of a country like Nigeria that's almost totally dependent on oil revenue.

However the sad and unfortunate truth is that Nigeria had a chance to save for the rainy day when oil sold for over $130 per barrel under the ineffectual buffoon Jonathan, who looted and wasted it on ogogoro and his failed re-election bid, while opening the barn for the rest of his goats to have their fill. Imagine, S/Arabia had $640 Billion in their own reserves as as October 2015.

Of course the wailers and iPod 'yoots' will always ignore this glaring fact and instead prefer to vent their frustration on PMB whenever he mentions borrowing to fund our deficits.

God bless President Buhari as he continues to clean up the mess of their defeated hero.

You lot always ignore the fact that he wanted to save but judas of the SS and some SE leaders took the FG to court and shared the gala. Now let me ask you.what did your state governor then do with his share? atleast we wail with facts. You lots wail with body odour.

wilcox:

Let's talk fact and let sentiment lie low, because we are all on the receiving end. What is Saint Buhari doing to diversify the economy.

So economy can be diversify easily, you need money to diversify.

Saudi reserved is over $570 billion, Algeria reserved is $155 billion, Nigeria reserved is $29 billion.

And 1 mumu that i know will keep saying Nigeria was not as bad as this during GEJ era. Sebi saudi no change ruler. And they are also having it worse. I keep saying even if na broda Jona still dey there it won't be any different from what it is now. A whole saudi and Qatar borrowing. Na who come be Nigeria wey we no go borrow. This ain't about Buhari or GEJ. The price of oil determines the economy.
If saudi had a new ruler they might have been blaming him like we are blaming PMB now. But that is not the case. We are now expecting Buhari to perform magic. A magic the great saudi king can not perform.

happney65 ODE BURUKU what do you have to say about this. I know you go sa see 1 kind rubbish to say. Sebi na you.

TheAlchemist:
Saudi Arabia borrowing can be termed strategic, just like America that has over 3 months supply of crude oil yet they keep on increasing there storage capacity, while Nigeria can not boast of even 1 week storage. The problem is that Nigerian borrowing is from desperation due to the dwindling foreign exchange... Beyond that most oil resource nation suffer from resource curse syndrome.. low or zero industrialization bases, lack of creativity from the leadership to the masses, poor policy formulation and implementation etc...

Brilliant submission...but do we have a choice not to borrow?

omolola15:
And 1 mumu that i know will keep saying Nigeria was not as bad as this during GEJ era. Sebi saudi no change ruler. And they are also having it worse. I keep saying even if na broda Jona still dey there it won't be any different from what it is now. A whole saudi and Qatar borrowing. Na who come be Nigeria wey we no go borrow. This ain't about Buhari or GEJ. The price of oil determines the economy.
If saudi had a new ruler they might have been blaming him like we are blaming PMB now. But that is not the case. We are now expecting Buhari to perform magic. A magic the great saudi king can not perform.

happney65 ODE BURUKU what do you have to say about this. I know you go sa see 1 kind rubbish to say. Sebi na you.

It's a blessing for GEJ to leave when he did.20 years for minus frm his life if he was still there as FG.

NaijaTalkTown:
Russia would have been a better example. Saudi Arabia's economy is not diversified.

I never said it was a model for economic diversification, my statement was that it was a more diversified economy than Nigeria as portrayed by their stats. The Kingdom's GDP is composed as follows: agriculture: 3.2%; industry: 60.4%; services: 36.4%.

bedspread:
My brother i really don't know why we love to get flimsy excuses and claims to back up our mess ups!!!

Mess-up, but not this new government, previous.

Trying to make excuse for a failed government shows are stupid some Nigerian youths can be.

Ijaya123:


Brilliant submission...but do we have a choice not to borrow?

We do but it won't be sustainable. We do not have the required technocrats to manage such situation as at yet.we have too much people with self vested intrest in government

HAH:
All oil dependent nations are affected by the low pric, when you hear what is happening in venezuela, russia and angola you will thank God you are a Nigerian

We better look for alternative exports to get FX cause it seems oil is cursed

Even Brazil own worse pass naija. Coupled with the fact they are still hosting the Olympics.

see Almighty fallen...

Deen77:


Mess-up, but not this new government, previous.

I think with this frame of mind yo5y will blame ur Dad for not Tryng hard to be like Dangote
PS:.no offence but simple analogy

erico2k2:

It's a blessing for GEJ to leave when he did.20 years for minus frm his life if he was still there as FG.

Looool I just wish he's still there. I'd have love to see the magic his people are expecting him to perform. Even GEJ knows deep down Nigeria was in deep shit when he left.

1Dray:
Trying to make excuse for a failed government shows are stupid some Nigerian youths can be.

How is this an excuse for GEJ failed government?

erico2k2:

You lot always ignore the fact that he wanted to save but judas of the SS and some SE leaders took the FG to court and shared the gala. Now let me ask you.what did your state governor then do with his share? atleast we wail with facts. You lots wail with body odour.

Court? It wouldn't have gotten to that stage if the crisis was handled by a competent leader that commands the respect of his Governors. Only a weakling and clueless 'leader' like Jonathan would bend to every request regardless of the effect it would have on the economy of the ship he captains. Where were his economic advisers? Where was his discretion? Where was his leadership ability? Would the Governor's have killed him if he bluntly refused just like Buhari's refusal to devalue despite intense pressure from internal and powerful external forces like the IMF?

Your excuse in defence of clueless incompetence is dead on arrival.

Ijaya123:


How is this an excuse for GEJ failed government?

GEJ failed your failed family alone not Nigeria. Silly Zombie... keep eating 'mama thank you. Wawa.