Kagawa10:

Crude oil was selling at a high rate of 110 dollars under Jonathan. Compare that to the 50 dollar rate under Buhari. This administration is earning 60% less than the previous regime yet you want miracle? Are they magicians.

Fact is, every country is suffering from recession due to fall in the price of crude oil, even Canada just got out of recession. The point is at a time of this sweeping recession, only adequate infrastructure would make investors stay back and endure in such country, not a poverty country with poor infrastructure as Nigeria

The economy was already growing by 6% before it touched the $50 in 2004 so it had nothing to do with crude oil price hitting $110. The primary reason was better economic policies. If the same policies Buhari introduced in 2015 were introduced when oil prices were $110 it would have led to capital flight as it would have screamed that an economic illiterate was in charge of the economy! It would also slow down growth to from 7% to no more than 3- 4%.

The primary reason why the economy entered a recession was the exchange control policies which Buhari introduced and scrapping the floating exchange policy he inherited. He had no right to even dictate the forex policy of the country but the submissive Emefiele did not assert the independence of the Central Bank from political meddling. Lamido Sanusi a former CBN governor condcemned these policies and urged his ministers to talk truth to power (Rather than talk behind his back like Amaechi). Most of his advisors knew these policies weren't working but did not have good sense to speak out.

Canada's economy only suffered economic decline for only 2 consecutive quarters which is the official definition of a recession. I just checked the records. The economy had a serious decline in growth rates but still the economy isn't as weak as one would expect despite a shrinking of the manufacturing sector from 18% to 10% of GDP at the height of oil price boom. Nigeria suffered economic decline for 6 consecutive quarters!

Also note that Canada is a developed country so a growth rate of 3% is very good. Growth rates of more than 4% is simply too high and will spell overheating. For a poor economy however, 3% is poor and 8% quite good and with 9-11% very good, even though countries may even do better than that but it rarely last more than a year. Presently growth rate in Canada hovers around 0.7% yearly.

A slowdown isn't as injurious to Canada because it enjoyed the commodities boom for far too long so some slowdown won't be bad as the economy reshapes and eventually rebounds.

Kagawa10:

Wee you keep quiet? Look at this dunce.

At this time of recession, if an Investor's cost of production barely increased from 10-15 due to him having adequate power supply, good transport system, low energy cost etc eventhough his profits reduced from 50-30, I can assure you he would still manage to survive and endure till everything returns to normal.

Compare that to an investor in Nigeria, whose cost of production is already high due to lack of good infrastructures. When you add that to the recession we have now, his cost of production would probably increase from 30-40 while gaining a profit of 5% in return. Would such investor stay back? That's not to mention the cost of running his own home and stuff in a dilapidated country yet your brain expect such investor to stay back?

Moreso, If our foreign reserves wasn't looted by Jonathan from $48b to $26b, if the eediot had managed to add in more reserve at the time oil was selling at $110 rate instead of looting the little we had, our naira-dollar exchange rate wouldn't nosedive like we have now.

Abeg, some people should get sense this new year.

The FG can not touch the foreign reserves. It does not belong to it so it is impossible for Jonathan to have looted it.

mekaboy:


They are buying . And be careful what you say here, your country is still owing us for gas. We can still shut your country down.

so Buhari is still telling you Ghana owe you gas
The man chop your country money

go collect it from his family


poor Nigerians with that shitty currency, buying ?
kid go and learn

even 1000 Cedis got me buying up Abuja

Talking trash as usual, huh? they are buying ? Fuckeduppedness! Who and what exactly are “they” buying? Ghana is not offering anything for sale, so how and what are “they buying ?* this is most ludiculous statement I’ve heard from a nigerian first, what is Ghana “selling” and what are “they” buying? Fuckeduppedness answer this simple question and then I will tell you what I know.

Ghana is owing you money for gas? and you think when you stop supplying gas to Ghana the country will “shut” down? How old are you? You sound like a 10-year-old. How much gas is your country currently supplying to Ghana? Do you know? Do you know how much gas Ghana as country produces in Ghana for its domestic consumption at the moment?

When you answer, then I will educate you further Fuckeduppedness

mekaboy:


They are buying . And be careful what you say here, your country is still owing us for gas. We can still shut your country down.

grandstar:


The economy was already growing by 6% before it touched the $50 in 2004 so it had nothing to do with crude oil price hitting $110. The primary reason was better economic policies. If the same policies Buhari introduced in 2015 were introduced when oil prices were $110 it would have led to capital flight as it would have screamed that an economic illiterate was in charge of the economy! It would also slow down growth to from 7% to no more than 3- 4%.

The primary reason why the economy entered a recession was the exchange control policies which Buhari introduced and scrapping the floating exchange policy he inherited. He had no right to even dictate the forex policy of the country but the submissive Emefiele did not assert the independence of the Central Bank from political meddling. Lamido Sanusi a former CBN governor condcemned these policies and urged his ministers to talk truth to power (Rather than talk behind his back like Amaechi). Most of his advisors knew these policies weren't working but did not have good sense to speak out.

Canada's economy only suffered economic decline for only 2 consecutive quarters which is the official definition of a recession. I just checked the records. The economy had a serious decline in growth rates but still the economy isn't as weak as one would expect despite a shrinking of the manufacturing sector from 18% to 10% of GDP at the height of oil price boom. Nigeria suffered economic decline for 6 consecutive quarters!

Also note that Canada is a developed country so a growth rate of 3% is very good. Growth rates of more than 4% is simply too high and will spell overheating. For a poor economy however, 3% is poor and 8% quite good and with 9-11% very good, even though countries may even do better than that but it rarely last more than a year. Presently growth rate in Canada hovers around 0.7% yearly.

A slowdown isn't as injurious to Canada because it enjoyed the commodities boom for far too long so some slowdown won't be bad as the economy reshapes and eventually rebounds.

What's this one even saying? Lol.
Can you hear yourself at all? Canada is a developed country yet suffered recession but you expect a developing country as Nigeria whose economy is oil dependent especially at a time oil is selling at a low rate, not to be in recession? Are you sane at all?

I repeat if your stupid Jonathan hadn't looted us dry at a time oil was selling at $110 rate, if he had saved more as well as constructed major infrastructures, we wouldn't be suffering at this time oil is selling at $50 rate.

Despite earning 60% less than the previous regime, this admnistration has come up with several social, agricultural and infrastructural projects. Look at Lagos-Ibadan road and other roads being constructed, our new railway lines, new rice mills, cheap fertilizer production, Npower social schemes, tradermoni etc yet you expect us to vote in a useless party that destroyed our economy again?

Atiku, neva again.

grandstar:


The FG can not touch the foreign reserves. It does not belong to it so it is impossible for Jonathan to have looted it.

Will you keep quiet? How come the $48b left by OBJ got reduced to $26b after Jonathan left? Is this one mad ni?
Read my lip and again. PDP, neva again!

freshngwaboy:
sai baba

Your brain needs hydrolic.

Kagawa10:
Why not? When they have good roads, adequate electric supply, good railway system etc. Which investor would leave his eldarado of a country to do suffer head in a poverty country like Nigeria? E no go well with Jonathan and Pdp.

Atiku, neva again

Remember to add the loot of Abacha, aided by Saint Buhari.

Kagawa10:

Crude oil was selling at a high rate of 110 dollars under Jonathan. Compare that to the 50 dollar rate under Buhari. This administration is earning 60% less than the previous regime yet you want miracle? Are they magicians.

Fact is, every country is suffering from recession due to fall in the price of crude oil, even Canada just got out of recession. The point is at a time of this sweeping recession, only adequate infrastructure would make investors stay back and endure in such country, not a poverty country with poor infrastructure as Nigeria.

When Buhari led Nigeria into recession the first time in 1983, what happened then?

mekaboy:


Lol. Does it mean they buy pure water with 1 cedi? Do you think people will dash you 1 cedi in Ghana? Keep disgracing yourself. Yes, foreign investors can do everything for you and your country can still work. Even the oil in Ghana was drilled by foreign investors and they will recover their money before Ghana takes over it.

There is no comparison between Ghana and Nigeria in terms of return on investment. Investors simply choose Ghana because they rather make little steady money with a government they can trust than loose everything with a government run by a cabal.

Wetin this one dey talk sef? Lol.
In fact, you're simply saying a company who specialise in making bottle water woud make more profit than in Nigeria when you take in cognizance the low cost of production due to cheap electricity and good roads in ghana coupled with high sales generated due to increase in price. You're simply saying I can easily go to Ghana to open a water company, make good amount of money and send home to my people in Nigeria whose naira to dollar/cedis rate is at poverty level.

After seeing this, why won't investors priortise Ghana than Nigeria? You can't be pdp and be sane!

kernel001:



When Buhari led Nigeria into recession the first time in 1983, what happened then?

Lol. Led Nigeria into recession after taking over from the corrupt Shagari for just 1 year in office? Some people are really insane! They think recession would just suddenly happen without any factor causing it. Yeye dey smell.

Kagawa10:

Lol. Led Nigeria into recession after taking over from the corrupt Shagari for just 1 year in office? Some people are really insane! They think recession would just suddenly happen without any factor causing it. Yeye dey smell.

Chai! Any man who can defend Buhari can defend the devil. In fact, to be an APC member, one has to lose his reasoning. Where you not here when Bill Gate, IMF faulted the economic template of Buhari?

Wait... Let me help your brain. Buhari couldn't stop the free fall of Naira till it got to N500 to a Dollar, but the moment he stay clear in London hospital, Osibanjo restored it to 360 and it is still there till now. He's highly incompetent.

Those foreign investors are corrupt. According to Lai M.

kernel001:


Chai! Any man who can defend Buhari can defend the devil. In fact, to be an APC member, one has to lose his reasoning. Where you not here when Bill Gate, IMF faulted the economic template of Buhari?

Wait... Let me help your brain. Buhari couldn't stop the free fall of Naira till it got to N500 to a Dollar, but the moment he stay clear in London hospital, Osibanjo restored it to 360 and it is still there till now. He's highly incompetent.

Will you keep quiet? Let's see how you defend the clueless looting Jonathan, the most corrupt leader we ever had.

Kagawa10:

Will you keep quiet? Let's see how you defend the clueless looting Jonathan, the most corrupt leader we ever had.

It's easy to defend, those that looted are now in APC and their sins are forgiven.

Kagawa10:


Will you keep quiet? How come the $48b left by OBJ got reduced to $26b after Jonathan left? Is this one mad ni?
Read my lip and again. PDP, neva again!

I am telling you 1+1 = 2 and you're insulting me.

Imagine Chevron sells $1b to the CBN and the foriegn reserves increases by $1b. Or Chevron sells $10b to the CBN over a year, does that mean that the $10b belongs to the FG? Tomorrow, Dangote says he needs $1b to import refinery machinery, that reduces the reserves by a $1b.

The foreign reserves isn't money belonging to the FG.

Soludo said that when OBJ was in power,. the Naira was kept undervalued so that demand for dollars was subdued which led to the reserves hitting $60b. So dollars was entering the reserves than was leaving it.

However, Jonathan's increase of workers for 5,500 to 18,000 led to a massive increase in demand for goods especially imported goods. This was one of the primary reasons why the reserves fell.

Also sometime between 2011 and 2014, the Naira became overvalued and that led to high demand for forex. The IMF urged that the Naira be devalued but the CBN refused to listen. An overvalued exchange rate increases demands for import and forex while a devalued currency reduces imports, encourages exports and increase in the reserves.

The CBN refused to listen to the IMF and blew $20b defending the overvalued exchange rate.

Kagawa10:

Will you keep quiet? Let's see how you defend the clueless looting Jonathan, the most corrupt leader we ever had.

Transparency International rates Buhari’s corruption more. Wait... Same Buhari that aided and abetted Abacha to loot?

Anyway, for your information, Jonathan was corrupt. Tell me how immaculate Buhari is.

Don't forget that someone is demented and lifeless like Bubu.

Kagawa10:


What's this one even saying? Lol.
Can you hear yourself at all? Canada is a developed country yet suffered recession but you expect a developing country as Nigeria whose economy is oil dependent especially at a time oil is selling at a low rate, not to be in recession? Are you sane at all?

I repeat if your stupid Jonathan hadn't looted us dry at a time oil was selling at $110 rate, if he had saved more as well as constructed major infrastructures, we wouldn't be suffering at this time oil is selling at $50 rate.

Despite earning 60% less than the previous regime, this admnistration has come up with several social, agricultural and infrastructural projects. Look at Lagos-Ibadan road and other roads being constructed, our new railway lines, new rice mills, cheap fertilizer production, Npower social schemes, tradermoni etc yet you expect us to vote in a useless party that destroyed our economy again?

Atiku, neva again.

No point arguing with you. I'm not even a supporter of Jonathan.

Kagawa10:

Wetin this one dey talk sef? Lol.
In fact, you're simply saying a company who specialise in making bottle water woud make more profit than in Nigeria when you take in cognizance the low cost of production due to cheap electricity and good roads in ghana coupled with high sales generated due to increase in price. You're simply saying I can easily go to Ghana to open a water company, make good amount of money and send home to my people in Nigeria whose naira to dollar/cedis rate is at poverty level.

After seeing this, why won't investors priortise Ghana than Nigeria? You can't be pdp and be sane!

Why do American companies choose to produce in China? Don't they have good roads in America or power?

Have you considered the cost of transport when fuel is twice the price in ghana? And will you prefer to sell your water to 20 million people at 5 naira or 200 million people at 3.50 when cost of production 2 naira?

You know nothing about investment.

mekaboy:



Why do American companies choose to produce in China? Don't they have good roads in America or power?

Have you considered the cost of transport when fuel is twice the price in ghana? And will you prefer to sell your water to 20 million people at 5 naira or 200 million people at 3.50 when cost of production 2 naira?

You know nothing about investment.

Lol. You don't know of something called dense and over saturated? The americans were simply spreading out due to the oversaturation in America. Fact is they can still make enough profit in far away country in China due to China's foreign exchange rate and low cost of production. More so, China is quite conducive for them.

That aside, Ghana has a fixed transport fares and the availability of good roads makes it easy to reach every nooks and crany to market your goods. Try to apply sense abegi.

grandstar:


I am telling you 1+1 = 2 and you're insulting me.

Imagine Chevron sells $1b to the CBN and the foriegn reserves increases by $1b. Or Chevron sells $10b to the CBN over a year, does that mean that the $10b belongs to the FG? Tomorrow, Dangote says he needs $1b to import refinery machinery, that reduces the reserves by a $1b.

The foreign reserves isn't money belonging to the FG.

Soludo said that when OBJ was in power,. the Naira was kept undervalued so that demand for dollars was subdued which led to the reserves hitting $60b. So dollars was entering the reserves than was leaving it.

However, Jonathan's increase of workers for 5,500 to 18,000 led to a massive increase in demand for goods especially imported goods. This was one of the primary reasons why the reserves fell.

Also sometime between 2011 and 2014, the Naira became overvalued and that led to high demand for forex. The IMF urged that the Naira be devalued but the CBN refused to listen. An overvalued exchange rate increases demands for import and forex while a devalued currency reduces imports, encourages exports and increase in the reserves.

The CBN refused to listen to the IMF and blew $20b defending the overvalued exchange rate.

What's this one saying sef? Increased which staff when thousand of job seekers when stampeded to death? When thousands of pensioneers weren't payed?

How come this admnistration was able to grow our foreign reserve from $26b to $43b? Yeye.

kernel001:



Transparency International rates Buhari’s corruption more. Wait... Same Buhari that aided and abetted Abacha to loot?

Anyway, for your information, Jonathan was corrupt. Tell me how immaculate Buhari is.

Don't forget that someone is demented and lifeless like Bubu.

Lol. Which stupid transparency international rates? Of course there are some element of corruption such as gandollar but fact is money laudering has been very tight under Buhari. That's why corrupt folks are feeling jittery already.

There's no way I would vote a party that have the likes of Atiku, Saraki at the helm. Neva again.

Kagawa10:

Lol. Which stupid transparency international rates? Of course there are some element of corruption such as gandollar but fact is money laudering has been very tight under Buhari. That's why corrupt folks are feeling jittery already.

There's no way I would vote a party that have the likes of Atiku, Saraki at the helm. Neva again.

Sorry...Oh! Sha na Buhari wey help Abacha loot? A man accused of looting $2.9 as head of state.

If you despite Transparency International rate, it shows who you are.

Kagawa10:

Lol. Which stupid transparency international rates? Of course there are some element of corruption such as gandollar but fact is money laudering has been very tight under Buhari. That's why corrupt folks are feeling jittery already.

There's no way I would vote a party that have the likes of Atiku, Saraki at the helm. Neva again.

See this one, buhari wey nor know wetin dey happen for im gorment. Your governotarial president is a lame horse. Wait till another party takes over and open his bony yansh. Atiku will surely jail him.

BlcoChina2018:
Talking trash as usual, huh? they are buying ? Fuckeduppedness! Who and what exactly are “they” buying? Ghana is not offering anything for sale, so how and what are “they buying ?* this is most ludiculous statement I’ve heard from a nigerian first, what is Ghana “selling” and what are “they” buying? Fuckeduppedness answer this simple question and then I will tell you what I know.

Ghana is owing you money for gas? and you think when you stop supplying gas to Ghana the country will “shut” down? How old are you? You sound like a 10-year-old. How much gas is your country currently supplying to Ghana? Do you know? Do you know how much gas Ghana as country produces in Ghana for its domestic consumption at the moment?

When you answer, then I will educate you further Fuckeduppedness

Just be making noise online till you put your country in trouble.

https://punchng.com/ghana-owes-160m-for-gas-supply-from-nigeria/

mekaboy:


Investors are after profit and not roads. Nigeria had more FDI under GEJ. Do you think investors don't watch Nigerian news and interviews with Buhari?

When MTN, Shop rite Etc came into Nigeria, was Buhari president? Was it roads that brought them?

If the president of US allegedly referred to him as LIFELESS, what do you think investors will see him as?

Investors have to be sure of the president they are dealing with. When the wife of the president tells the world he is not in charge, investors won't want to gamble in such a place.

The only investors waxing strong in Nigeria are herdsmen.

You don't bother to explain certain things to fools, they are already programmed to fail in everything including comprehension.

Kagawa10:


Lol. You don't know of something called dense and over saturated? The americans were simply spreading out due to the oversaturation in America. Fact is they can still make enough profit in far away country in China due to China's foreign exchange rate and low cost of production. More so, China is quite conducive for them.

That aside, Ghana has a fixed transport fares and the availability of good roads makes it easy to reach every nooks and crany to market your goods. Try to apply sense abegi.

Everyone knows except you that the reason of production in China is Labour and their tolerance for environmental pollution not roads and power.

At the end of production the primary objective is to reach as many people as possible. If the cost if production is 2 naira, will you prefer to sell 5 naira to 20 million in Ghana or 3.50 to 200 million in Nigeria?

Who makes more profit?

We are talking reality and you are sending me crap? Such stvpidity I asked you very simple questions and you couldn’t provide answers? can you tell me the volume of gas Nigeria currently supplies to Ghana? What volume of gas is Ghana currently getting from its own gas field for its own use? Do you know? If you don’t know, tell me and I will educate you,huh?

Few weeks ago, your oil minister Ibe Kachikwu was telling the world that Nigeria will now focus on the African market to sell its oil, because the traditional buyers of your oil have abandoned you. But these days, almost every African country has discovered oil and gas soon, you will be begging African countries to buy your oil and pay when they feel like or will you shove oil into your stinking, dirty azzes?

FYI, Ghana currently produces more than 300MMscf/day from its own three oil and gas fields and more than 200,000bpd of crude. The gas supply from Nigeria averages 60mmscf/d

Don’t send me any stvpid link,huh? I’m in the oil and gas industry so don’t bring your crappy nonsense to me,huh? Fuckeduppedness

mekaboy:


Just be making noise online till you put your country in trouble.

https://punchng.com/ghana-owes-160m-for-gas-supply-from-nigeria/

Talking crap, as usual,huh? The fact that Nigeria has a population of 200 million is useless if the vast majority of the people are desperately poor and can’t afford to buy sh1t! So, Norway or Ghana, with a smaller population, could have a higher purchasing power and therefore a more relevant market, than 200 million beggars, kidnappers, armed robbers, pr0Stitutes, and boko harass,huh?

mekaboy:


Everyone knows except you that the reason of production in China is Labour and their tolerance for environmental pollution not roads and power.

At the end of production the primary objective is to reach as many people as possible. If the cost if production is 2 naira, will you prefer to sell 5 naira to 20 million in Ghana or 3.50 to 200 million in Nigeria?

Who makes more profit?

BlcoChina2018:
We are talking reality and you are sending me crap? Such stvpidity I asked you very simple questions and you couldn’t provide answers? can you tell me the volume of gas Nigeria currently supplies to Ghana? What volume of gas is Ghana currently getting from its own gas field for its own use? Do you know? If you don’t know, tell me and I will educate you,huh?

Few weeks ago, your oil minister Ibe Kachikwu was telling the world that Nigeria will now focus on the African market to sell its oil, because the traditional buyers of your oil have abandoned you. But these days, almost every African country has discovered oil and gas soon, you will be begging African countries to buy your oil and pay when they feel like or will you shove oil into your stinking, dirty azzes?

FYI, Ghana currently produces more than 300MMscf/day from its own three oil and gas fields and more than 200,000bpd of crude. The gas supply from Nigeria averages 60mmscf/d

Don’t send me any stvpid link,huh? I’m in the oil and gas industry so don’t bring your crappy nonsense to me,huh? Fuckeduppedness

For now the oil in Ghana belongs to China, when the recover their money you can claim it. So u can't call it Ghana's oil. The important thing is that you owe us and soon you will send begging delegates to Nigeria again.
https://www.thenewsnigeria.com.ng/2015/10/ghana-team-in-nigeria-to-plead-over-181m-gas-debt/

Don't let your keyboard put your entire nation in trouble.

BlcoChina2018:
Talking crap, as usual,huh? The fact that Nigeria has a population of 200 million is useless if the vast majority of the people are desperately poor and can’t afford to buy sh1t! So, Norway or Ghana, with a smaller population, could have a higher purchasing power and therefore a more relevant market, than 200 million beggars, kidnappers, armed robbers, pr0Stitutes, and boko harass,huh?

From where, even if the 20 million of Ghana is rich, and half of Nigeria is poor, Nigeria is still richer.

Listen to this retard with an IQ of 10. Oh dear, oh dear you seem to have difficulty understanding simple facts,huh? I am giving you real fact and you are busy sending me useless, meaningless links?

For your information, there are no Chinese oil companies in Ghana at the moment. the oil belongs to China? Just as your own oil belongs to Shell, ExxonMobil, Eni, Chevron etc etc, huh? you are damn fvcking stvpid and talk like a f00l

Yes, Ghana took a loan to establish its gas facility and that loan i# being paid, or have the Chinese complained to you? Don’t tell me Shitnigerians don’t take bilateral or multilateral loans, when the terms are good?

mekaboy:


For now the oil in Ghana belongs to China, when the recover their money you can claim it. So u can't call it Ghana's oil. The important thing is that you owe us and soon you will send begging delegates to Nigeria again.
https://www.thenewsnigeria.com.ng/2015/10/ghana-team-in-nigeria-to-plead-over-181m-gas-debt/

Don't let your keyboard put your entire nation in trouble.