Wetin concern am?

GoodGovernance:


The problem with people like you is that they just vomit rubbish without any coherent and intellectual paradigm.

All I expected you to do is to debunk my submission.

I am not a politician but a financially literate person.

I challenge any learned person to an intellectual discuss on if and how, an oil export dependent country like Nigeria ,could have averted the present economic recession,when the price of oil,a major contributor to our GDP, crashed by more than 60%.!!!!!!!!

Just a cameo: if I plan a budget based on crude price of say 83$/barrel and it suddenly started selling for 50$/barrel within a sustained period of that budget, that is a crash. However, if I plan a budget based on 32$/barrel and it started selling for 35$/barrel that is not a crash but a boost!
APC have been having boost since. Deal with it!

maxiuc:
life was easy In 16yrs of PDP in power, just2yrs of APC hunger and starvation everywhere abeg I get headache no time for Zombie

Did the oil price crash during those 16 years.?

I am only interested in intellectual discuss,not sentimental outbursts.

Debunk my submissions and I will humbly accept the efficacy of a superior reasoning.

The various economic recovery steps currently being adopted by the present government, might not be perfect,but in economics,there are usually merits and demerits of policies.

Sometimes,trial and error are inevitable. Quote me any where!

GoodGovernance:


The problem with people like you is that they just vomit rubbish without any coherent and intellectual paradigm.

All I expected you to do is to debunk my submission.

I am not a politician but a financially literate person.

I challenge any learned person to an intellectual discuss on if and how, an oil export dependent country like Nigeria ,could have averted the present economic recession,when the price of oil,a major contributor to our GDP, crashed by more than 60%.!!!!!!!!

oga good management could have made the difference, the problem of this government has not been lack of money but lack of capacity.

tuniski:

Just a cameo: if I plan a budget based on crude price of say 83$/barrel and it suddenly started selling for 50$/barrel within a sustained period of that budget, that is a crash. However, if I plan a budget based on 32$/barrel and it started selling for 35$/barrel that is not a crash but a boost!
APC have been having boost since. Deal with it!

Now I think I can engage you,sounds more like what I want.

Yes I agree with you to a limited extent.

But then what is the essence of a low budget,that can not fulfill your developmental objectives.The greater your revenue and savings, the greater your economic capacity and capability,The other alternative is to go a borrowing.

And by the way,the major cry of the average Nigerian is the high cost of living.

And the major causes of this high cost of living are:

Imported inflation due to drop in the value of the Naira.

The cause of the drop in the value of the Naira,is not what the best economists or economic team in the world could have averted.The drop in supply of Forex could not meet up with the demand.

When oil price crashed,of course,forex supply dropped.The Naira was bound to be devalued! No economic team could have averted that!

During the 16 years,Nigeria was ''transformed'' from a petrol producing economy to that of petrol importing economy.Whose fault?

The[b] inevitable[/b] increase in the price of petrol had its spiral effect on the cost of goods and services.

Low local productivity of consumables is also a major contributor to our present predicament,apart from the major contributor above.Higher productivity could have counter- balanced low forex inflow.

Productivity surplus could have driven down the cost of goods and services,giving us more impetus for export and hence,more forex inflow.

GoodGovernance:


The problem with people like you is that they just vomit rubbish without any coherent and intellectual paradigm.

All I expected you to do is to debunk my submission.

I am not a politician but a financially literate person.

I challenge any learned person to an intellectual discuss on if and how, an oil export dependent country like Nigeria ,could have averted the present economic recession,when the price of oil,a major contributor to our GDP, crashed by more than 60%.!!!!!!!!

One question and i need an honest straight to the point answer. How much was oil price throughout Obasenjo's administration and how much is oil price in present APC regime? And can you compare standard of living during Obasenjo's govt and now?

I'd earlier intended to ask just one question, sorry for the additional, however both are closely linked together.

GoodGovernance:


Now I think I can engage you,sounds more like what I want.

Yes I agree with you to a limited extent.

But then what is the essence of a low budget,that can not fulfill your developmental objectives.The greater your revenue and savings, the greater your economic capacity and capability,The other alternative is to go a borrowing.

You see, the alternative to direct revenue in funding budget is borrowing, that we both agreed. However, this govt has borrowed nigeria into debt that can't be paid in the next 3 decades yet, there is nothing to show for it.

Most worrying part is that it is not paying subsidy(rather increased pump price) neither has it increased Salaries. Those are normally the biggest drain on govt income. But what do we have, staggering inflation,increasing unemployment, heightened insecurity, drying FDI and massive exodus of companies even as many locally folded up! All within 2yrs of a leadership with twisted psychology to governance.

tuniski:

You see, the alternative to direct revenue in funding budget is borrowing, that we both agreed. However, this govt has borrowed nigeria into debt that can't be paid in the next 3 decades yet, there is nothing to show for it.

Most worrying part is that it is not paying subsidy(rather increased pump price) neither has it increased Salaries. Those are normally the biggest drain on govt income. But what do we have, staggering inflation,increasing unemployment, heightened insecurity, drying FDI and massive exodus of companies even as many locally folded up! All within 2yrs of a leadership with twisted psychology to governance.

I do not think it would be fair to expect the effect of borrowing just withing 2 years.For your other points,let me reproduce some of my earlier comments:

''And by the way,the major cry of the average Nigerian is the high cost of living.

And the major causes of this high cost of living are:

Imported inflation due to drop in the value of the Naira.

The cause of the drop in the value of the Naira,is not what the best economists or economic team in the world could have averted.The drop in supply of Forex could not meet up with the demand.

When oil price crashed,of course,forex supply dropped.The Naira was bound to be devalued! No economic team could have averted that!

During the 16 years,Nigeria was ''transformed'' from a petrol producing economy to that of petrol importing economy.Whose fault?

The[b] inevitable[/b] increase in the price of petrol had its spiral effect on the cost of goods and services.

Low local productivity of consumables is also a major contributor to our present predicament,apart from the major contributor above.Higher productivity could have counter- balanced low forex inflow.

Productivity surplus could have driven down the cost of goods and services,giving us more impetus for export and hence,more forex inflow.''

GoodGovernance:


The problem with people like you is that they just vomit rubbish without any coherent and intellectual paradigm.

All I expected you to do is to debunk my submission.

I am not a politician but a financially literate person.

I challenge any learned person to an intellectual discuss on if and how, an oil export dependent country like Nigeria ,could have averted the present economic recession,when the price of oil,a major contributor to our GDP, crashed by more than 60%.!!!!!!!!

You are a disgrace

QueenOfNepal:
You are a disgrace

..I agree.

GoodGovernance:


Stupidity is when you compare a 2 year era,with a 16 year era.

Virtually all oil export dependent economies are in recession,except those that saved for the rainy day and judiciously utilised previous oil wealth for extensive economic development.Nigeria did not and it cannot be the fault of APC.

The slogan could be:APC,''Progress''.A lot of things have changed.The Nigerian treasury is safer in the hands of APC than PDP. To me that is a major change!!!!

Other progressive changes will surely follow.

Exactly

I think blaming the APC for Nigerian problems would amount to POVERTY OF INTELLIGENCE AND SELFISHNE SS.

maxiuc:
life was easy In 16yrs of PDP in power, just2yrs of APC hunger and starvation everywhere abeg I get headache no time for Zombie

The guy has given you a challenge.
Debunk his facts with facts after all we are intellectuals.

GoodGovernance:



I do not think it would be fair to expect the effect of borrowing just withing 2 years.For your other points,let me reproduce some of my earlier comments:

''And by the way,the major cry of the average Nigerian is the high cost of living.

And the major causes of this high cost of living are:

Imported inflation due to drop in the value of the Naira.

The cause of the drop in the value of the Naira,is not what the best economists or economic team in the world could have averted.The drop in supply of Forex could not meet up with the demand.

When oil price crashed,of course,forex supply dropped.The Naira was bound to be devalued! No economic team could have averted that!

During the 16 years,Nigeria was ''transformed'' from a petrol producing economy to that of petrol importing economy.Whose fault?

The[b] inevitable[/b] increase in the price of petrol had its spiral effect on the cost of goods and services.

Low local productivity of consumables is also a major contributor to our present predicament,apart from the major contributor above.Higher productivity could have counter- balanced low forex inflow.

Productivity surplus could have driven down the cost of goods and services,giving us more impetus for export and hence,more forex inflow.''

Now, something striking here : HIGHER PRODUCTIVITY!

Let it be said loud and clear the nigerian people and economy have never been as much diversified as under the 16yrs prior to APC. NESG( Nigerian Economic summit Group) said nigeria has 42 economies. That has happened largely due to the inventiveness and resilience of the Nigerian and inspite of govt. It is true citizens build nations/economies while govt only stimulates.

However, this govt of buhari/apc came without any plan, agenda and clearly without direction! They are a govt of trial and error no deliberate policy codification and implementation. Reactionary rather than proactive. In all, the president wasted the most critical period of a 4yr tenure albeit the first 2yrs blaming, demarketing nigeria and chasing shadows while classifying citizens as 97/5 percentile.

While still at it, the economic levers begin to respond by suspension and panic thereby leading to low confidence and ultimately drop in productive activities. This in essence Is our recession!

Again on forex, the current occupiers of Aso rock brought the calamity on us. First, it is govt revenue that needs diversification cos the citizens economic activities are already diverse. As of 2012 while in opposition and when oil price was high, the last admin made bold to remove subsidy and open up the petroleum sector but, was resisted. That resistance cost an over 6trillion in subsidy and its attendant wastages. Further more, it delayed the speedy actualization of private refineries like the now celebrated Dangote's. That in itself was from outside of the box thinking. Had they not truncated it, by now we would have been self sufficient in domestic petroleum products production and wait for it; reduced the pressure on forex by over 60% cos petroleum products importation is conduit taking away our forex.

Those are all the impact of the rather twisted psychology of governance of buhari and his apc!

Makarfi must now begin the healing process for the party

I knew it and said it all along that only the party convention can select a party chairman

The way forward now is for the Makarfi caretaker committee to now call for a National Convention of the party where a permanent chairman can be selected

The Board of trustees and stakeholders should also zone the chairmanship of the PDP to the South West. The party needs a new start and a new face to tell its story. The likes of Jimi Agbaje can lead the party in a modern and truly democratic way.

From the convention PDP can then zone the Presidency to the North and encourage all who want to run to come forward

ynaijaNews:


A Chieftain of All Progressive Congress (APC), Senator Abubakar Girei, has told the Peoples Democratic Party (PDP), to rename the party.

Girei, who represented Adamawa Central in the Senate, between 1999 and 2003, said renaming PDP was necessary because the last administration and the leadership crisis “spoiled” the party’s name.

In a statement made available to reporters, he said, “I congratulate Senator Ahmed Makarfi and PDP for winning their case.

“As a proud APC member and a full blooded Democrat, I urge them to put behind all that happened and re-invent, rebrand and reposition PDP to provide a viable and strong opposition to our ruling party.

“Democracy is about choices, and since PDP’s name is already soiled and therefore can no longer fly, they need to start by renaming the party.”

YNAIJA

And the name APC is not soiled abi

APC giving PDP nightmares since the court ruling. PDP have d momentum now. APC be really afraid cos frm my permutation, PDP is set to dethrone u guys come 2019. APC had a rare opportunity to dethrone PDP, but they have messed up big time, giving PDP a lifeline to launch a come back. No matter who APC fields, nobody is going to be interested but people will be keen on who PDP fields cos that is where nigerians will be hedging their bet.

tuniski:

Now, something striking here : HIGHER PRODUCTIVITY!

Let it be said loud and clear the nigerian people and economy has never been as much diversified as under the 16yrs prior to APC. NESG( Nigerian Economic summit Group) said nigeria has 42 economies. That has happened largely due to the inventiveness and resilience of the Nigerian and inspite of govt. It is true citizens build nations/economies while govt only stimulates.

However, this govt of buhari/apc came without any plan, agenda and clearly without direction! They are a govt of trial and error no deliberate policy codification and implementation. Reactionary rather than proactive. In all, the president wasted the most critical period of a 4yr tenure albeit the first 2yrs blaming, demarketing and chasing shadows while classifying citizens as 97/5 percentile.

While still at it, the economic levers begin to respond by suspension and panic thereby leading to low confidence and ultimately drop in productive activities. This in essence Is our recession!

Again on forex, the current occupiers of Aso rock brought the calamity on us. First, it is govt revenue that needs diversification cos the citizens economic activities are already diverse. As of 2012 while in opposition and when oil price was high, the last admin made bold to remove subsidy and open up the petroleum sector but, was resisted. That resistance cost an over 6trillion in subsidy and its attendant wastages. Further more, it delayed the speedy actualization of private refineries like the now celebrated Dangote's. That in itself was from outside of the box thinking. Had they not truncated it, by now we would have been self sufficient in domestic petroleum products production and wait for it; reduced the pressure on forex by over 60% cos petroleum products importation is conduit taking away our forex.

Those are all the impact of the rather twisted psychology of governance of buhari and his apc!

But do you think it is fair to blame the non removal of subsidy on the present government?

What changed that gave the APC government the audacity and courage to do what the PDP government could not do?

You said the economy was diversified without giving examples of other sources of forex apart from oil.

Just in case you do not know or just forgot,the essence of economic diversification is to expand our sources of forex inflow.Was this achieved?


All your other comments, in my view lack economic substance and therefore sentimental.I had highlighted the major causes of our present predicament,I am daring any body to DEBUNK my submission ,intellectually.

I normally succumb to superior reasoning.

Oga Abubakar, Is It Your PDP?

Oga Abubakar, Is It Your PDP??

GoodGovernance:


But do you think it is fair to blame the non removal of subsidy on the present government?

What changed that gave the APC government the audacity and courage to do what the PDP government could not do?

You said the economy was diversified without giving examples of other sources of forex apart from oil.

Just in case you do not know or just forgot,the essence of economic diversification is to expand our sources of forex inflow.Was this achieved?


All your other comments, in my view lack economic substance and therefore sentimental.I had highlighted the major causes of our present predicament,I am daring any body to DEBUNK my submission ,intellectually.

I normally succumb to superior reasoning.

Yes, it is fair to blame this govt for non removal of subsidy cos they were the #OccupyNaija people who threatened to bring the then govt down.

What has changed for them to now embrace subsidy removal? Simple reality of being in govt as against the propaganda of opposition.

Diversification is not necessarily to gain forex but, to increase govt revenue. And this is of two layers govt in business and citizens (individual and corporate) in business. No need to be listing afterall, you asserted finance background.

Do you know something called political-economy? That ensures every comment to be valid.

So far you are only dancing around. I hope in anyway, you have added something. You are the one who need to broaden your horizon your position is weak.

Anyway, thanks for the time ciao.

What a week

tuniski:

Yes, it is fair to blame this govt for non removal of subsidy cos they were the #OccupyNaija people who threatened to bring the then govt down.

What has changed for them to now embrace subsidy removal? Simple reality of being in govt as against the propaganda of opposition.

Diversification is not necessarily to gain forex but, to increase govt revenue. And this is of two layers govt in business and citizens (individual and corporate) in business. No need to be listing afterall, you asserted finance background.

Do you know something called political-economy? That ensures every comment to be valid.

So far you are only dancing around. I hope in anyway, you have added something. You are the one who need to broaden your horizon your position is weak.

Anyway, thanks for the time ciao.

Interesting,So it was the Save Nigeria Group led by pastor Bakare,that metamorphosed to APC

We should blame APC for the failure of PDP

ANyway I am more concerned about the economics,not the politics:

My friend the problem of Nigeria is not Naira revenue!

Our challenge is FOrex revenue.Therefore the need for diversification is Forex revenue,more so for an import dependent economy!.

The more reason why I belong to the school of thought that increase Naira Tax revenue can not get us ot of recession!

The united states can focus on taxes because their Currency is sort after globally!

The solution to our present predicament is Forex revenue diversification and not Naira revenue diversification. Focusing on the latter at the detriment of the former will only worsen our economic woes.!!!!!!!


Trust me I cannot mislead you.

GoodGovernance:


Interesting,So it was the Save Nigeria Group led by pastor Bakare,that metamorphosed to APC

We should blame APC for the failure of PDP

ANyway I am more concerned about the economics,not the politics:

My friend the problem of Nigeria is not Naira revenue!

Our challenge is FOrex revenue.Therefore the need for diversification is Forex revenue,more so for an import dependent economy!.

The more reason why I belong to the school of thought that increase Naira Tax revenue can not get us ot of recession!

The united states can focus on taxes because their Currency is sort after globally!

The solution to our present predicament is Forex revenue diversification and not Naira revenue diversification. Focusing on the latter at the detriment of the former will only worsen our economic woes.!!!!!!!


Trust me I cannot mislead you.

Sorry our problem is 1st naira revenue! We have stagflation a stagnant/shrinking economy with increasing cost(inflation) normally, inflation should be accompanied with high economic agents liquidity. But, income has remain stagnant and even lost!

High demand will normally force increase productivity. Remember, it is govt needs to diversify its revenue base while not killing the citizens diversification.
You are free to be in any school of thought that is why it is intellectualism. However, any thought premise basically on oil revenue fluctuation is lazy brain just like we are currently having.

Our problem is majorly revenue. If govt gets enuff revenue internally, it won't be borrowing externally in forex thereby courting more pressure.
Naira revenue will certainly improve forex revenue.
Are you sure you are finance based?
Wasn't tunde bakare buhari's running mate in cpc abi tinubu and co ain't the opposition behind the #occupyNaija? Are they not now APC?
You somehow sounded off on the nigerian political evolution!

IHEJIRIKAisBOKO:
Igbos have proved to be the most confused set of humans. Just look at them celebrating Ahmed Makarfi's court victory; these are the same people that have threatened to boycott the forthcoming anambra electiins and take no part in Nigeria politics again.

PDP = biafra biafra = PDP

its either u have garri in your Brain or maggots!

Pdp is Biafra Biafra is pdp.... moggots inside that big box u call brain is more than 1million cuz u actually lost sense!

I grew into pdp... despite its challenges, I'd take pdp over apc! Am Niger deltan and pdp is not Biafra! Olodo

tuniski:

Sorry our problem is 1st naira revenue! We have stagflation a stagnant/shrinking economy with increasing cost(inflation) normally, inflation should be accompanied with high economic agents liquidity. But, income has remain stagnant and even lost!

High demand will normally force increase productivity. Remember, it is govt needs to diversify its revenue base while not killing the citizens diversification.
You are free to be in any school of thought that is why it is intellectualism. However, any thought premise basically on oil revenue fluctuation is lazy brain just like we are currently having.

Our problem is majorly revenue. If govt gets enuff revenue internally, it won't be borrowing externally in forex thereby courting more pressure.
Naira revenue will certainly improve forex revenue.
Are you sure you are finance based?
Wasn't tunde bakare buhari's running mate in cpc abi tinubu and co ain't the opposition behind the #occupyNaija? Are they not now APC?
You somehow sounded off on the nigerian political evolution!

Sorry our problem is firstly not Naira but Forex revenue!



How would naira revenue increase forex revenue?

The only way to increase forex revenue,is through exports.


Another way out is to reduce our dependence on forex/importation, especially of petrol.We should get our refineries back so as to produce more for local production and export to neighboring countries.

If and when Dangote refinery becomes operational,the dollar is bound to crash outrageously.

You solve an economic problem by identifying the cause. The cause of our recession is not naira revenue,but insufficient forex revenue,as a result of the sharp drop in oil price,a major contributor to our GDP.

How will high demand force increased productivity,when Forex is not available to import raw-materials,Plant and machinery?

Yes over dependence on oil is laziness,but that is what we have for forex,for now.Medium and long term alternatives are agriculture and solid minerals.

Many countries including Saudi Arabia,UAE ,Kuwait,etc,have used oil to develop their economy.Why not Nigeria?


Wow,I am very much interested in knowing how naira revenue will improve forex revenue, without export!

Voodoo economics?

GoodGovernance:


Sorry our problem is firstly not Naira but Forex revenue!



How would naira revenue increase forex revenue?

The only way to increase forex revenue,is through exports.


Another way out is to reduce our dependence on forex/importation, especially of petrol.We should get our refineries back so as to produce more for local production and export to neighboring countries.

If and when Dangote refinery becomes operational,the dollar is bound to crash outrageously.

You solve an economic problem by identifying the cause. The cause of our recession is not naira revenue,but insufficient forex revenue,as a result of the sharp drop in oil price,a major contributor to our GDP.

How will high demand force increased productivity,when Forex is not available to import raw-materials,Plant and machinery?

Yes over dependence on oil is laziness,but that is what we have for forex,for now.Medium and long term alternatives are agriculture and solid minerals.

Many countries including Saudi Arabia,UAE ,Kuwait,etc,have used oil to develop their economy.Why not Nigeria?


Wow,I am very much interested in knowing how naira revenue will improve forex revenue, without export!

Voodoo economics?

Oil contribute small to our GDP but massively to our Forex earnings. They are not the same thing. Oil is only about 13% of our GDP agriculture,telecom, financial services, hospitality etc are major contributors to GDP.

Oya, if we don't take foreign loans, we don't incur debt servicing in forex. Do you know that aside petroleum products importation, foreign debt servicing is the 2nd highest forex consumer? Now, with enuff naira revenue and subsequently balanced or surplus budget, we won't need foreign loans like we currently are needing running from pillar to post looking for loans to finance budget deficit.

Why was the govt trying the ill conceived yuan currency swap?

High and increasing effective demand will force productivity as importation increases cos of supply gap so will local/substandard alternatives increase. All govt has to do is to coordinate the local production side with right policy incentives via backward integration/substitution till such a time that we get self sufficient and standardized : the curious case of made in China of old!!. The case of cement is classic in nigeria.

Forget govt building refineries they have shown consistently over time they are poor at that. The private sector comes in handy like Dangote's refinery. I don't have to be repeating the multiplier effect of that.

All those Arab nations put together are not half the population of nigeria but, interestingly have by far combined petroleum resources than Nigeria. So it is relatively easier to achieve more there couple with environmental factors.

By the way, Saudi makes massive forex revenue from haji (tourism) and import almost everything.

I am still wondering your finance and economic background.

tuniski:


Oil contribute small to our GDP but massively to our Forex earnings. They are not the same thing. Oil is only about 13% of our GDP agriculture,telecom, financial services, hospitality etc are major contributors to GDP.

Oya, if we don't take foreign loans, we don't incur debt servicing in forex. Do you know that aside petroleum products importation, foreign debt servicing is the 2nd highest forex consumer? Now, with enuff naira revenue and subsequently balanced or surplus budget, we won't need foreign loans like we currently are needing running from pillar to post looking for loans to finance budget deficit.

Why was the govt trying the ill conceived yuan currency swap?

High and increasing effective demand will force productivity as importation increases cos of supply gap so will local/substandard alternatives increase. All govt has to do is to coordinate the local production side with right policy incentives via backward integration/substitution till such a time that we get self sufficient and standardized : the curious case of made in China of old!!. The case of cement is classic in nigeria.

Forget govt building refineries they have shown consistently over time they are poor at that. The private sector comes in handy like Dangote's refinery. I don't have to be repeating the multiplier effect of that.

All those Arab nations put together are not half the population of nigeria but, interestingly have by far combined petroleum resources than Nigeria. So it is relatively easier to achieve more there couple with environmental factors.

By the way, Saudi makes massive forex revenue from haji (tourism) and import almost everything.

I am still wondering your finance and economic background.

bros don't engage that guy again. he is dancing around the market naked thinking his sane

Wetin consign APC Sinator wit PDP matter.?

Relax Senator, Its too early to get Scared.

Yimu

tuniski:


Oil contribute small to our GDP but massively to our Forex earnings. They are not the same thing. Oil is only about 13% of our GDP agriculture,telecom, financial services, hospitality etc are major contributors to GDP.

Oya, if we don't take foreign loans, we don't incur debt servicing in forex. Do you know that aside petroleum products importation, foreign debt servicing is the 2nd highest forex consumer? Now, with enuff naira revenue and subsequently balanced or surplus budget, we won't need foreign loans like we currently are needing running from pillar to post looking for loans to finance budget deficit.

Why was the govt trying the ill conceived yuan currency swap?

[b]High and increasing effective demand will force productivity as importation increases cos of supply gap so will local/substandard alternatives increase. [/b]All govt has to do is to coordinate the local production side with right policy incentives via backward integration/substitution till such a time that we get self sufficient and standardized : the curious case of made in China of old!!. The case of cement is classic in nigeria.

Forget govt building refineries they have shown consistently over time they are poor at that. The private sector comes in handy like Dangote's refinery. I don't have to be repeating the multiplier effect of that.

All those Arab nations put together are not half the population of nigeria but, interestingly have by far combined petroleum resources than Nigeria. So it is relatively easier to achieve more there couple with environmental factors.

By the way, Saudi makes massive forex revenue from haji (tourism) and import almost everything.

I am still wondering your finance and economic background.

You have still not answered my question as to how Naira revenue will improve forex revenue,Mister I too know,doubting my background.

Face the issues.

Oil contributes 13% to our GDP and so what happens if the forex rate nose dive from about 200 to 360?Will that not affect other contributors to GDP,in an import dependent economy?

We more or less use the oil money for personal consumption, which are goods not manufactured in Nigeria. That is the reason why you don’t see much contribution from the oil sector to the GDP. The linkage is not deep enough within the productive sector of the economy.

The formula for GDP is: GDP = C + I + G + (Ex - Im),

where C= spending by consumers,

I= investment by businesses,

G=Government spending

Ex=Value of Exports


Im= Value of Imports.


According to 2015 NBS statistics,the GDP contribution were put thus:

AGRICULTURE 23.11%
INDUSTRIES 23.71%
SERVICES 53.18%

Oil sector is included in industries.Your 13% contribution is still part of the 23.71% for industries.

The problem with quacks, is that they ignore the positive and negative contributions of exports and imports respectively,to GDP and also equate inflation, with recession.

Nigeria's 2015 GDP is put at about $482billion, it will continue to decrease, with the increasing value of imports,if not matched with higher value of exports,where the increase in the value of other factors(C,I and G),remain insignificant or negative.

This GDP formula is very simple.

Nigeria's current recession(Persistent negative growth in GDP) is majorly as a result of the sharp and continual drop in the forex earnings from exports and increasing negative contribution of imports.

Your submission on foreign loan is quite laughable and suggest a very shallow knowledge of economics and finance.

GoodGovernance:



You have still not answered my question as to how Naira revenue will improve forex revenue,Mister I too know,doubting my background.

Face the issues.

Oil contributes 13% to our GDP and so what happens if the forex rate nose dive from about 200 to 360?Will that not affect other contributors to GDP,in an import dependent economy?

We more or less use the oil money for personal consumption, which are goods not manufactured in Nigeria. That is the reason why you don’t see much contribution from the oil sector to the GDP. The linkage is not deep enough within the productive sector of the economy.

The formula for GDP is: GDP = C + I + G + (Ex - Im),

where C= spending by consumers,

I= investment by businesses,

G=Government spending

Ex=Value of Exports


Im= Value of Imports.


According to 2015 NBS statistics,the GDP contribution were put thus:

AGRICULTURE 23.11%
INDUSTRIES 23.71%
SERVICES 53.18%

Oil sector is included in industries.Your 13% contribution is still part of the 23.71% for industries.

The problem with quacks, is that they ignore the positive and negative contributions of exports and imports respectively,to GDP and also equate inflation, with recession.

Nigeria's 2015 GDP is put at about $482billion, it will continue to decrease, with the increasing value of imports,if not matched with higher value of exports,where the increase in the value of other factors(C,I and G),remain insignificant or negative.

This GDP formula is very simple.

Nigeria's current recession(Persistent negative growth in GDP) is majorly as a result of the sharp and continual drop in the forex earnings from exports and increasing negative contribution of imports.

Your submission on foreign loan is quite laughable and suggest a very shallow knowledge of economics and finance.

Very lame. I guess you are just out of economic class and wanted to test your understanding. You tried but have poor understanding.

GDP and GNI (Gross National Income) ain't the same. GNI has been found to be a faulty measure of GDP(gross domestic product) which is simply the aggregation of all goods and services produced within a defined territory normally within a year. Emphasis is domestic!

If you still can't see the connection between naira revenue and forex boost, then sorry I can't help you.

Anyway,i greet you. Expand your horizon and improve your thought. 'The frontier of knowledge is the beginning of ignorance' !!!!!