How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? - Politics - Nairaland
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| How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Nnamdd1(m): 7:28am On Feb 04, 2017 |
How did the dollar manage to stay at N170 for 4 straight years under massive looting under former President Goodluck Jonathan? And how is it now at N500 - N510 under massive savings under President Muhammadu Buhari? http://www.naijahelm.com/2017/02/how-did-dollar-manage-to-stay-at-n170-for-4-years-under-jonathan.html 1 Like
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| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Elose11(m): 7:35am On Feb 04, 2017 |
Because of the crack economic team GEJ assembled. 6 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Abagworo(m): 7:36am On Feb 04, 2017 |
Dollar availability determines its value. Whether Buhari or Jonathan once the country is not getting enough foreign exchange to offset Dollar demand then it will keep rising. To achieve lasting stability requires departure from absolute dependence on oil for foreign exchange. 26 Likes 3 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by LesbianBoy(m): 7:38am On Feb 04, 2017 |
buhari why 4 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by progress69: 7:38am On Feb 04, 2017 |
Clownish question. The value of Naira is determined mainly by the price of crude. Jonathan rode on oil tide for 3 years, with nothing to show for it, even in the reserves. We started feeling the heat of the dropping oil prices which forced Jonathan to devalue Naira to N197 to a dollar, which was trading at N232 to in the parallel market. Bare in mind that oil prices was still as high as $70-75/barrel and Nigeria was producing oil at full capacity. 2.2 million barrels/day. What do u expect when oil price dipped to low as $28/barrel with little reserves to defend the Naira as was done by Sanusi. What do u expect, when militants blow up pipelines and reduce our production level to as lownas 1600 million barrels pwr day ( interestingly those that wail the much are always very happy when a bpmb goes off on crude pipe) Bare in mind that Sanusi used about 50% of the reserves then to defend the economy and Naira, yet Naira lost over 20% of its value. Luckily for Nigeria, or let me say unfortunately for Nigeria, Oil price picked again in a short time. Why I said unfortunately is because, if oil didn't pick up so fast then, our leaders would have been serious about DIVERSIFICATION! 33 Likes 2 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Abagworo(m): 7:43am On Feb 04, 2017 |
progress69: I always knew from day 1 that the reason for bombing oil installations was to reduce available funds and make things difficult for Buhari Government to kick-start it's manifesto. This Government actually overcame the tactics late 2016 but is not doing enough to enlighten people about the causes of recession. 15 Likes 2 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by AgbenuAnna(f): 7:45am On Feb 04, 2017 |
let's ask GEJ |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Nobody: 7:45am On Feb 04, 2017 |
The answer 2 ur question is simply common sense: we had a PhD holder in office back then to steer our economy unlike the waec certificate forger we have now. 37 Likes
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| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by progress69: 7:47am On Feb 04, 2017 |
Abagworo:Interestingly those that complain and wail the most, are always happy when a bomb goes off on a crude pipe. They have wailed abd prayed for Buhari's failure even before he was elected. U know that joy of we told u, as made many of them lost their senses. With low crude oil price, they jubulate when some terrorists blow up national assets and still turn around to shout hunger in the land. Very demonic clownish set of morons 12 Likes 4 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Nogodye(m): 7:49am On Feb 04, 2017 |
Abagworo:You've spoken well 6 Likes 3 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by orunto27: 7:50am On Feb 04, 2017 |
That was why Obama didn't like GEJ. Emefiele hadn't perfected recklessness. |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Pavarottii(m): 7:52am On Feb 04, 2017 |
The two clowns above me, wat av u got to say now that oil price is between 53-55dollar per barrel now? 19 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by ITbomb(m): 8:01am On Feb 04, 2017 |
There was confidence in the market so investors pumped in dollars into the economy, that helped naira to be stable but when Buhari came in without any definite economic policy and took 6 months to set up executive council, uncertainty crept in and the investors withdraw their dollars from the economy. That led to the free fall of the naira 25 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by casttlebarbz(m): 8:04am On Feb 04, 2017 |
quite educating 1 Like |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by orunto27: 8:12am On Feb 04, 2017 |
Microsoft is now CONTROLLING Nigeria IT systems. Even the smart phone in my hand and my laptop are Microsoft Base. 1 Like |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by progress69: 8:25am On Feb 04, 2017 |
FuckyourMama: Stale Junk! 11 Likes 1 Share |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by progress69: 8:26am On Feb 04, 2017 |
Pavarottii: Silly question. How many times have u seen the Naira go down then revalued again? When u answer that, then ur brain is working perfectly! 6 Likes 2 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Nobody: 8:27am On Feb 04, 2017 |
Elose11:And the overall absence of m0r0nic dull@rds in the CBN and Ministry of Finance. 3 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by PDJT: 8:29am On Feb 04, 2017 |
FuckyourMama: Lol. So Jihadist Buhari failed ordinary Mathematics in his forged O'level certificate.  No wonder the Nigerian money is struggling even against other West African countries', like Cfa. To be fair I don't envy you lots. 7 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by sdindan: 8:29am On Feb 04, 2017 |
Abagworo: And Chibok scam and bokoharam was to encourage GEJ Regime? Karma is a bitxh. 12 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Nobody: 8:38am On Feb 04, 2017 |
progress69: Facts don't lie lol ...i sense hw pained n frustrated u are dt u can't defend ur certificateless master it still puzzles me hw an anti corruption czar like ur Sai Baba culd stoop so low as to forge a common WAEC certificate  7 Likes
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| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Day169: 8:47am On Feb 04, 2017 |
progress69:Oga progress69, you wicked small sha. You should've known that most of these people you're trying to educate have chosen to remain myopic in their views and closed their minds to reason. These are the same ones our politicians rely on to spread discord in the polity (for a pitiable sum) while they make away with billions. This conversation thus far, revels the depth of moral & intellectual depravity this nation has gotten to. May God have mercy on us. 3 Likes 2 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by progress69: 8:52am On Feb 04, 2017 |
sdindan: Stop this stale thrash. BH started Violence under an Yaradua who is from the North. 3 Likes 1 Share |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by PDJT: 8:55am On Feb 04, 2017 |
Abagworo: You guys are where you're as a consequence of trying to solve economic problems with political solution. [Bad Policies, insecurity, human rights abuse, lack of diplomacy, statements like : "Nigerians are criminals/corrupt, women belong to the kitchen" by the supposed number one salesman, in front of world media, has consequences!] Meanwhile, there is no evidence anywhere in the world or in history books, where a people (Nation/Country) were lifted from poverty to affluence through politics. Politics has it's limits, economics always come first. In Malaysia, for example, the Malays have always had political power and used it decisively against others, but the average minority Chinese earn nearly twice what the average majority Malay earn. Same logic and evidence applies to Blacks/Latinos vs. Chinese/Japanese/Jews in the US. You can bring that home to your Nigeria. I will recommend you get the book: "Basic Economics", by Thomas Sowell. 5 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by columbus007(m): 9:03am On Feb 04, 2017 |
Simply because Buhari is a dullard and has no pedigree, not even a single technocrat among his ministers. 2 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by BlackBaron: 9:04am On Feb 04, 2017 |
High oil prices Demand and supply... The first is obvious. Demand and supply was helped largely by the volume of fx in circulation under Jonathan. There was a lot of contracts and also a lot of hard currency exchanges via politicians which fed the bdc market. Couple that to the liberal attitude to bdc by CBN by way of high fx sales. It always managed to be in excess of supply or just about. Fair enough, while politician hand downs are evil and were a proportion of fx inflows for bdc. Buhari obviously cracked down on this, but he's also stopped spending completely. This has left the market completely drained of fx and with demand soaring. It's getting worse. It's ironic Mr Buhari is absolutely clueless with no alternative to limit fx scarcity also went on to limit the amount of fx inflows into the economy by limiting fx from bdc to $8000 monthly via the CBN. This absolutely meagre sum can not even scratch the surface unfortunately and so here we are with crippling economic conditions. 3 Likes 2 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by Metroescobar: 9:21am On Feb 04, 2017 |
FuckyourMama: My friend shut up and stop disturbing the thread with your senseless posts abeg! Adults are trying to debate and no one wants to join you in barking about stale electoral propaganda so go and play with your mates in the sand! 5 Likes 2 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by cktheluckyman: 9:29am On Feb 04, 2017 |
progress69:Oil price was $60/barrel in may 2015 when GEJ Left office and has been above $50/barrel in the last 4 months 3 Likes |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by cktheluckyman: 9:31am On Feb 04, 2017 |
For most if GEJ's tenure, it was actually N145/$.It only got to N170 in 2014 1 Like |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by greenmonk: 9:36am On Feb 04, 2017 |
Abagworo: So countries without oil have their exchange at 100000 to the dollar? Why can't u people be reasonable and admit the buhari knows nothing about governance. 5 Likes 2 Shares |
| Re: How Did The Dollar Manage To Stay At N170 For 4 Years Under Goodluck Jonathan? by madridguy(m): 9:36am On Feb 04, 2017 |
Following...... |
I Will Pay The N30,000 Minimum Wage If Elected ~ Hon. Razaq Atunwa / Buhari Message To Newly Sworn In Officers Of 9th National Assembly & Legislators / Fashola, Clerics To Tackle Noise Pollution In Lagos
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