BUHARIISCURSED:
Even in his grave baba they punish us

9jakohai:


1.Venezuela's currency is in a bad state.

2.Russia has had a bit of bother with its currency (they also rely heavily on oil too).

3.Saudi Arabia has no issues.....because they are running through their extensive dollars savings to keep their currnecy buoyant.

4.Nigeria, even in the time of plenty, was not earning enough money to keep N1=$1. Back in 1978....during a period of high oil prices, it was $1-N1. But we also exported , in addition to oil, groundnuts, palm oil, cotton, cocoa, tin, columbite, beninseed, coal, and so on. Now...we don't export that much non-oil wise.

5.Once oil prices fall down, restrictions on dollar flows are brought in. For example...in 2008...oil prcies fell. Soludo did what Emefiele is doing now. The difference was that he had $47bn in the foreign reserves (Buhari had $32BN when he came in) and second...oil prices went up again after a few months...to over 100usd. (It never dropped below 60USD before).

6.Of course, I am criticizing the govt, by the way. They can improve things....by spending more on increasing our non-oil exports. Problem is...that is a long term solution, and Nigerians want short term...and the govt too is waiting for oil to shoot up again.

loomer:


Bros we no supos dey compare Venezuela and Nigeria. They've always lived in poverty even with their oil.

Russia had it rough not just because of oil price but sanctions against them.

Saudis, chai make we no even talk about those people their money too long.

For Nigeria, we just have to stop blaming oil prices and start doing things right. No one in leadership dey ever think outside the box.

loomer:


Make una stop to Blane things on oil price and call a spade a spade.
Na only Nigeria dey sell oil?
How many other countries money crash as bad as this one?

loomer:


Make una stop to Blane things on oil price and call a spade a spade.
Na only Nigeria dey sell oil?
How many other countries money crash as bad as this one?

9jakohai:




Back when it was 200 to 1 dollar, oil prices were sky high... Above 100 per barrel.

Then we could afford to allow investors come in and take as much dollars in and out because govt had enough dollars to play with.

Once oil prices crashed to as low as 28 per barrel, we had to restrict dollars, so investors pulled out.

If oil prices were still above 100, you would be shouting say baba.

(by the way, I ain't a zombie or wailer)

alexistaiwo:

Me too. I am neither apc or pdp.
I am just a concerned citizen.
Let's say that you are right.
Is it not the responsibility of the government of the day to find solutions?

9jakohai:


1.You asked for examples of countries in trobule with their economy due to the falling oil prices. I give you examples....you write them off.
Ah well.

2.Thinking outside the box requires harsh and tough economic polices,fighting corruption...which includes those under the broom getting investigated too... as well as a thorough reform of our education system, and us taking loans to improve power, rail , road and health sectors. All of which are geared towards attracting more foreign investment in several years time.

Unfortunately, most of you Nigerians want to go back to the time when dollars easily flowed in. Those times are over.

3.Of course...oil is to blame. That is why Buhari is singing diversify. If he is serious....is another matter