Paraman:
It's expected to fall after we devalued our currency twice.

I will love to see the GDP in naira for the last 15 years.

Egypt was ahead of south Africa before, but after devaluing their currency, the SA took over the Egyptian position

The exchange rate during Jonathan tenure is not up to 300/$

Under Buhari it was not up to 500/$

But now, it's about 1100/$


If the naira can get to the level it was under Jonathan, we will overtake Algeria, Egypt and South Africa.

In 2022 our GDP was N202.4 trillion

In 2023 it was N234.4 trillion

It's projected to hit N296.4 trillion this year.


So the NBS do release GDP figures in US dollar?

your point?🤨

Terrible

Fergie001 seun

Seems like they've started using bots for likes

Paraman:
It's expected to fall after we devalued our currency twice.

I will love to see the GDP in naira for the last 15 years.

Egypt was ahead of south Africa before, but after devaluing their currency, the SA took over the Egyptian position

The exchange rate during Jonathan tenure is not up to 300/$

Under Buhari it was not up to 500/$

But now, it's about 1100/$


If the naira can get to the level it was under Jonathan, we will overtake Algeria, Egypt and South Africa.

In 2022 our GDP was N202.4 trillion

In 2023 it was N234.4 trillion

It's projected to hit N296.4 trillion this year.


So the NBS do release GDP figures in US dollar?

Procashtips:


First, you err by comparing crude oil price of that of Obj and Yar'Adua with that of Buhari. You cant go that far because it wouldn't make a balance of judgement due to the fact that standard of living in both eras are far apart and that there are governments in between both.

You can only compare the precedessor and the successor for a more factual comparison.

How much was crude oil under Abacha (A man sanctioned to death by the west) and also Abdulsalam compared to that of Obj? (Only added the latter because he was a bridge between military and civilian govt)

Now how much was crude oil under ObJ and Yaradua?

It was said that Yaradua outperformed OBJ in just 2yrs+ and would have made a huge difference if not for death



Did crude sell higher under OBJ than the 2 or not?

Now to Jonathan making Nigeria the biggest economy in Africa, it was all but beans cooking, this was later exposed after the rots going underneath got exposed. You can't be the biggest economy in Africa early 100% surplus of your budgeted earnings and still end up borrowing to pay salaries a year before the end of your tenure. What happened to the 100% surplus earnings?

Jonathan paid subsidy on fuel and electricity just as Buhari, Yar'Adua and OBJ, it's only Tinubu that's acting abnormal and turning Nigerian lives upside down.

So Jonathan didn't do anything magical in that aspect.

Are you really saying crude didn't sell under Jonathan above $100 per barrel for a long time?

How can you claim just by using one link that Buhari and Jonathan sold crude at similar rates when it's not a news that it sold for $110 for a while compared to like $60 that was in the budget vs selling for as low as $25 under Buhari compared to $50-$60 on budget?

Please, lets not argue for argument sake. I would have posted links to backup the above but I'm where my internet isn't opening images fast enough.

You can help check these assertion or wait till I can do so later.

I'm not holding brief for any of these leaders, just letting us know that Jonathan was never good if compared to Yar'Adua his precedessor because he didnt fact any political, economic or global pandemic issues.

It's so sad that we are buying man hour time discussing these failures called leaders.

Nwokem, crude price was only at the low 20s in April 2020, and rose rapidly from May 2020 to $43.23 per barrel and kept rising.
But you also must factor in that around the time of the Covid19 lockdown, all the petrol stations were shut down and people were encouraged to stay indoors. This meant that Buhari's government must have saved more than 90% of fuel subsidy around this period, and the lockdown carried on for many weeks, and even after that, there was a drastic reduction in traffic for many months.
All through GEJ's tenure, he paid huge sums for the petrol subsidy, unlike Buhari that had a break of nearly a year, as the lockdown ensured he didn't have to pay a lot on fuel subsidy as cars were not encouraged to be on the streets.
So I can comfortably write that the crude price and fuel subsidy factor were cancelling each other out. Buhari has no reason to leave a healthy economy comatose. Let us also bear in mind that Buhari borrowed way more money that GEJ, so what did he do with his own borrowings.

Also don't forget that Buhari's economy was already performing worse than Jonathan's
GEJ was in complete power for just 5 years, so I can comfortably say that six years before Buhari came in, the price of crude was comparable to the Buhari era price of crude, yet Buhari was performing woefully compared with Yaradua.

You wrote about the fact that standard of living has changed. It is the job of governments to put in policies to improve the standard of living of the people. Buhari also promised that he would improve the people's standard of living if he gets elected. On getting in, he destroyed the people's standard of living, so there is no valid excuse for Buhari to go relying on the disparity between the standard of living during OBJ, Yaradua, GEJ period, after all his government was responsible for making the standard of living of Nigerians worse. It is another failure that his government was responsible for. He can't use it as an excuse, to avoid being properly judged by the people.

OfoIgbo:


Nwokem, crude price was only at the low 20s in April 2020, and rose rapidly from May 2020 to $43.23 per barrel and kept rising.
But you also must factor in that around the time of the Covid19 lockdown, all the petrol stations were shut down and people were encouraged to stay indoors. This meant that Buhari's government must have saved more than 90% of fuel subsidy around this period, and the lockdown carried on for many weeks, and even after that, there was a drastic reduction in traffic for many months.
All through GEJ's tenure, he paid huge sums for the petrol subsidy, unlike Buhari that had a break of nearly a year, as the lockdown ensured he didn't have to pay a lot on fuel subsidy as cars were not encouraged to be on the streets.
So I can comfortably write that the crude price and fuel subsidy factor were cancelling each other out. Buhari has no reason to leave a healthy economy comatose. Let us also bear in mind that Buhari borrowed way more money that GEJ, so what did he do with his own borrowings.

Also don't forget that Buhari's economy was already performing worse than Jonathan's
GEJ was in complete power for just 5 years, so I can comfortably say that six years before Buhari came in, the price of crude was comparable to the Buhari era price of crude, yet Buhari was performing woefully compared with Yaradua.

You wrote about the fact that standard of living has changed. It is the job of governments to put in policies to improve the standard of living of the people. Buhari also promised that he would improve the people's standard of living if he gets elected. On getting in, he destroyed the people's standard of living, so there is no valid excuse for Buhari to go relying on the disparity between the standard of living during OBJ, Yaradua, GEJ period, after all his government was responsible for making the standard of living of Nigerians worse. It is another failure that his government was responsible for. He can't use it as an excuse, to avoid being properly judged by the people.

When I get to a stable place where I can comfortably respond, I will. You can see that I made alot of typos because I'm not comfortable here.

I pray to remember this discussion so we can continue.

Nice conversing so far.

Procashtips:


When I get to a stable place where I can comfortably respond, I will. You can see that I made alot of typos because I'm not comfortable here.

I pray to remember this discussion so we can continue.

Nice conversing so far.

I know what you mean. It can be frustrating responding via a phone.

DMerciful:
Fergie001 seun

Seems like they've started using bots for likes

Are you in pains because of the likes?

Paraman:
The gap between the black market and the official market has been close.

That's the benefit.

You mean as at today, the official amd parallel market rates are the same?

malware:


You mean as at today, the official amd parallel market rates are the same?

Can you kindly point where in my comment I made this claim?

Paraman:
Can you kindly point where in my comment I made this claim?

The expression you used, "closing the gap" between two things may mean reducing the gap or totally eliminating it. Regardless of which of the two you were referring to, the FX policy of the present administration was just like moving one step forward and then one step backward, but failing to get back to the starting point.

Before the policy came, a dollar was exchanging for about N700, then boom the Naira was floated, and that sent the exchange rate to the ceiling and there was no stopping it. After realising that won't work, they now reintroduced the control (not allowing the Naira to determine its value), but we have yet to return to where we were before.

malware:


The expression you used, "closing the gap"

So is the gap not close?

Under Buhari, the black market rate was #750 while the official market was #450. A huge difference of #300

Paraman:
So is the gap not close?

Under Buhari, the black market rate was #750 while the official market was #450. A huge difference of #300

But we were still affording to buy bags of rice, cars and other exotic things, now even the basics are not affordable, how is that a progress?

Let the mumu Apc supporters come and defend this.

Under gej we had excess crude accounts cos of the benchmark of 100 dollars sales of crude oil meaning we had more money under gej but gej and governors squandered it when it came to buhari oil fell we had lesser money coming in that was the beginning of our travail

OriOko88:

Jonathan was a puppet. He didn't do anything special. He met a very robust Obj era economy. I don't rate him atal. He shud have tried all possible best to ensure pdp remained in power. An hausa or Yoruba president at that time will never relinquish power in such way. This is Africa!! Maximum respect to Obj.

APC saw Jona to be a weak vessel and used propaganda to destroy him. Nonsense.

if Jonathan didn't relinquish power, the country would have slipped into a civil war secretly backed by the American and British governments against Gej's government,he wrote about it in his book. That's why he said that his ambition wasn't worth the life of a single Nigerian.

Paraman:
NBS do release the figures in naira, the IMF only converted it to dollar

No sir. IMF have it's own way of collating it's data worldwide. It doesn't use government agencies because the figures can be manipulated by government to favour the outcome.

TheAdvocate:


No sir. IMF have it's own way of collating it's data worldwide. It doesn't use government agencies because the figures can be manipulated by government to favour the outcome.

Show me IMF data for Nigeria between 1999 and 2010

Buhari was the worst president in Africa, but was 100 million times better than tinubu

Terrible.

Paraman:
Show me IMF data for Nigeria between 1999 and 2010

Your Google crashed?

TheAdvocate:


Your Google crashed?

You shouldn't have quote me then.

Paraman:
It's expected to fall after we devalued our currency twice.

I will love to see the GDP in naira for the last 15 years.

Egypt was ahead of south Africa before, but after devaluing their currency, the SA took over the Egyptian position

The exchange rate during Jonathan tenure is not up to 300/$

Under Buhari it was not up to 500/$

But now, it's about 1100/$


If the naira can get to the level it was under Jonathan, we will overtake Algeria, Egypt and South Africa.

In 2022 our GDP was N202.4 trillion

In 2023 it was N234.4 trillion

It's projected to hit N296.4 trillion this year.


So the NBS do release GDP figures in US dollar?

Those behind this likes are urchinns.

keymatt:
Those behind this likes are urchinns.

I can see you're heartbroken because of ordinary likes

Quest7777:
OP they are coming for you...

They are called Mummified Zombies 4 a reason.

Anonimoux:
United States of America

Population
330,000,000

GDP
$29,000,000,000,000

Per Capita Income
$80,000


Nigeria

Population
230,000,000

Labour Force
100,000,000

GDP
$500,000,000,000

Per Capita Income
$2,500

US na your mate.

You no compare California the largest state economy in US with over 3trillion dollar to Nigeria na US you see.

Hammylawali:


It’s so glaring you understand absolutely nothing about the economy of your country. Yes Jonathan did well with the economy (thanks to okonjo iwiela). But the most important question is, what economy did buhari handover to tinubu. You had a dead economy before tinubu came into power.
If you don’t know, floating the the naira was actually meant to show you how realistic your economy is. You can’t start building a house on a weak foundation.
Buhari’s administration wrecked our economy, sold our oil in advance , destroyed our monetary system, devalued the currency so his keen could benefit from it, encouraged the cabal to embezzle our money through subsidy payments. There are alot that we can mention that really messed up our economy. If you want a vibrant economy, we need to start by clearing the rot. You can call me pro tinubu or anything, but whoever means well for this country, won’t start repairing/ building from somewhere but the foundation.

Jargon.

And his repairing the faulty foundation by buying yacht, Building fathom useless coastal roads and looting?

I keep saying it, Nigeria would remain a 3rd world country as long as, we are majority populated by ppl like U.

It's sad.

Paraman:
It's expected to fall after we devalued our currency twice.

I will love to see the GDP in naira for the last 15 years.

Egypt was ahead of south Africa before, but after devaluing their currency, the SA took over the Egyptian position

The exchange rate during Jonathan tenure is not up to 300/$

Under Buhari it was not up to 500/$

But now, it's about 1100/$


If the naira can get to the level it was under Jonathan, we will overtake Algeria, Egypt and South Africa.

In 2022 our GDP was N202.4 trillion

In 2023 it was N234.4 trillion

It's projected to hit N296.4 trillion this year.


So the NBS do release GDP figures in US dollar?

Stop talking trash, the Naira has always been devaluation started under the APC, that's the exact point we are making. They killed the economy. How can you devalue a currency for a country that doesn't produce anything. Even Ghana and South Africa can't be that stupid

RichDaniels:

Stop talking trash, the Naira has always been devaluation started under the APC, that's the exact point we are making. They killed the economy. How can you devalue a currency for a country that doesn't produce anything. Even Ghana and South Africa can't be that stupid

wetin this one dey talk

blueAgent:


Jargon.

And his repairing the faulty foundation by buying yacht, Building fathom useless coastal roads and looting?

I keep saying it, Nigeria would remain a 3rd world country as long as, we are majority populated by ppl like U.

It's sad.

You obviously don’t have any meaningful thing to stay. You are just following the learners who feed on your stupidity. What yatch did he buy?. Coastal road is useless you say?…
Well it’s people like you who don’t know the importance of infrastructure that will call an important road useless. You can continue the discussion with your fellow obidients, you all lack vision but filled with hatred.

Sad.

Hammylawali:


You obviously don’t have any meaningful thing to stay. You are just following the learners who feed on your stupidity. What yatch did he buy?. Coastal road is useless you say?…
Well it’s people like you who don’t know the importance of infrastructure that will call an important road useless. You can continue the discussion with your fellow obidients, you all lack vision but filled with hatred.

More jargon.

It's a pity, this country has no future with youths and ppl like u.

Hammylawali:


You obviously don’t have any meaningful thing to stay. You are just following the learners who feed on your stupidity. What yatch did he buy?. Coastal road is useless you say?…
Well it’s people like you who don’t know the importance of infrastructure that will call an important road useless. You can continue the discussion with your fellow obidients, you all lack vision but filled with hatred.

Audio infrastructure.


What's the sense in building a coastal road when you have hundreds of road that are in poor condition?