Sometimes I feel for the “poor” Nigeria voters who are constantly fed with half-truth and in some instances, outright lies. We are at it again, being told how perfect, stable Naira was under Buhari. To even quote GMB,

“And if you recall by the time we were removed, one naira was equal to 1.2 or 1.5 dollars. The naira was run down to N80 to a dollar by General Babangida’s regime”

. http://www.thecable.ng/exclusive-interview-im-opposed-muslim-muslim-ticket-says-buhari/2

Two things are involved here:

1. At no point during the administration of IBB was naira N80 to a dollar, the highest it was at parallel market was N21.90

2. When Buhari took over in 1983, the Naira was exchanging for N 0.724 to a dollar, by the time he left office, the Naira was exchanging at between N1.5 to 1.7 in the parallel market. We will make use of the N1.5 exchange rate.
From 1983 to 1985, the Naira moved from 0.724 to 1.5 representing a 107% depreciation of the Naira!

The question therefore, with 107% depreciation of naira from 1983 to 1985, how stable was the naira under Buhari?

Hi datolee,

Naira as Nigerian currency is never stable at any point in time because of our continuous exportation of oil and importation of basic amenities.

Any other political lies by any human being is jaundiced and fabrication to score cheap political gain.

At least it wasn't $1 to 196 Naira under Buhari's watch.

Don't just come here and give us manufactured numbers. Show us prove showing the naira depreciated by 107% between 1983 and 1985. You cannot just manufacture number out of thin air. What was the exchange rate under Shagari administration? You also failed to tell us the inflation rate at the time which Buhari reduced to about 5%. Don't just come here with half baked information and want people to believe your garbage economic data.

FastShipping:
At least it wasn't $1 to 196 Naira under Buhari's watch.

Learn to relax when issues beyond your brain capacity are being discussed.

FastShipping:
At least it wasn't $1 to 196 Naira under Buhari's watch.

Let me try to help you...

During Buhari dollar went from 0.724 to 1.5 representing a 107% depreciation of the Naira!


GMB (1983-1985)
Before 0.724
After 1.5
107% Depreciation

GMB (2014)
Before 155.0
After 321.0
107% Depreciation (God forbid)

datolee the terror of barcanista and APC crew is back from the library

Collynzo9:

Learn to relax when issues beyond your brain capacity are being discussed.

Absolutely nonsense. I know you would have preferred I scream "GEJ till 2019". Defending indefensible and the economic quagmire we are in at the moment due to ineptness of one man.

What the op and a dunce (Collynzo9) like you failed to include in the so called data was the state of Nigerian economy during Shagari regime. What was job market like before Buhari came in? Were basic commodities available in the market at the time? How much did we have in reserve during the time of Shagari? How much was crude oil sold for per barrel as to what is sold for today? Was the government in good position to pay salaries towards the end of Shagari regime? You and the lying op failed to tell us the complete picture of the time and you now want me or any right thinking Nigerian to believe the lie for the sake of bringing Buhari down. The op and dunce like you also failed to tell us that how Buhari met a very bad economy when he came in while GEJ did not meet a bad economy when he came in with Yar'Adua. Have you forgotten that Obasanjo left a prosperous economy when he left office? What was the exchange rate when Obasanjo left office or when GEJ assumed office? Compare the exchange rate of when GEJ came in to what Obasanjo left for Yar'Adua and GEJ administration. You and the op also failed to tell us how Buhari managed to pay off our debt and declined predatory loan terms from IMF. I would have given the op a little bit of respect if he had compared Buhari's regime or Buhari's economic policies at the time to Shagari's and IBB's economic policies. Compare those three regimes and open a thread to discuss it with me.

For those who care to listen, the Shagari administration plunged Nigeria economy into economic quagmire before Buhari came in and Buhari came in to salvage the situation. What is happening today in GEJ administration is similar to what was happening during Shagari regime which Buhari came in to salvage with fiscal policies. Basic commodities came back to the food shelves, inflation was reduced to bare minimum, fiscal discipline returned, redundant workers were laid off, corruption disappeared, everyone was on their toes.

Buhari did it back then, he is coming to salvage the situation again.

Firefire:
Hi datolee,

Naira as Nigerian currency is never stable at any point in time because of our continuous exportation of oil and importation of basic amenities.

Any other political lies by any human being is jaundiced and fabrication to score cheap political gain.

Very correct, as a matter of fact, before OBJ came in, the naira to dollar exchange rate was artificial and never the reality of the day. It is sad hearing people talking about when naira was 1 to 1 with dollar.

Malaysia Ringgit is falling, Russian rubble is falling.. oil price is falling yet we have pseudo economists telling us they will make naira at parity with dollars... we must be enlightened not to fall for their cheap lies.

The last time they were in power, The Naira lost much value than it has done under this government

Collynzo9:

Learn to relax when issues beyond your brain capacity are being discussed.

chai

Collynzo9:

Learn to relax when issues beyond your brain capacity are being discussed.

Shots fired! Chisos!!

Question for the gods.

We human are the architect of our our demise, here in Nigeria, poor education system, bad leadership, high rate of illiteracy, killing 4 ritual purpose, boko haram, citizen easily manipulated by incompetent politician, I believe we Nigerian are still in year 1814 why other country are in 2014, if we still in this state at this time, easily manipulated by old cargo politician then there absolutely a long road ahead 4 us all Nigerian. May God help us

Very stable like stabilizer

Don't know






Google is ur answer

datolee:


Very correct, as a matter of fact, before OBJ came in, the naira to dollar exchange rate was artificial and never the reality of the day. It is sad hearing people talking about when naira was 1 to 1 with dollar.

Malaysia Ringgit is falling, Russian rubble is falling.. oil price is falling yet we have pseudo economists telling us they will make naira at parity with dollars... we must be enlightened not to fall for their cheap lies.

The last time they were in power, The Naira lost much value than it has done under this government

The truth of the matter is, during Oil boom what did our government at all level did to re-invest the surplus? NOTHING!

They all waited impatiently every month to collect their share of national cake without thinking of diversification into non-oil investment.

Our Naira depends mainly on the price of Crude Oil.

When we keep trying to emanipate innocent nigerians from the chains of ignoramus they r subjected to by the team of progrethieves led by tinubu and GMBitch they tag us as anti progress
@datolee pls keep exposing the lies that poor nigerians are been fed with on a daily basis by this good for nothing apshit

Nigeria is changing for the beta under GEJ we will not let our impatience and over anxiety allow us to open the floor again for past deficient,illiterate,and directionless leaders that brought us to the point wwe are currently fighting to emancipate ourselves from

No to bokoharam
No to buhari
No to apc

All we earnestly demand is GEJ till 2019

We need detailed proof, n jona from 145 to 187

supporters of APC have avoided this thread I'm expecting them to open another counter thread rather defend their illiterate leader that want to stabilze oil prices when he cannot stabilize ordinary currency that is within his authorty


GEJ till buhari admits he is a failure

OK

This datolee of a dude is bad gan

Naira lost total value under Buhari watch...

Once to everyman and nation comes the moment to decide; in the strife between truth with falsehood, for the good or the evil side.” J. R. Lowell, 1819-1891, (VANGUARD BOOK OF QUOTATIONS,VBQ, p 254).
For great nations, the choice comes once or, at most, twice. For Nigeria, the choice had come several times. And, the fact that, today, the failure of a country which was more advanced than South Korea, Malaysia and Thailand, among others, in 1965, is unanimously attributed to the lack of purposeful leadership is an indictment of the leaders as well as the followers.
To the best of my knowledge, nobody had been elected into office, either at the Federal, or State, level who had not enjoyed some significant measure of support. Even when the votes were supposed to have been rigged or bought, with “Stomach Infrastructure”, fellow Nigerians had been involved in the deals. Nobody alone can impose himself on a nation of 170 million people. As Joseph de Maistre, 1751-1820, in VBQ p. 80, has warned us, “Every country has the government it deserves.”

Buhari and Jonathan
So if Nigeria, a potentially rich, but, actually poor country, has a government in which a Minister can purchase two bullet-proof cars, at inflated prices, that is what we deserve. If another Minister can spend billions of naira leasing a jet for her official use; and, then go to court to stop anyone from asking questions, because her “boss” never did, that is what we deserve too. If the BOSS himself runs a Presidential Airline with nine aircrafts, while the Presidents of France and Brazil and the Prime Ministers of Japan and Britain manage with one each, that is what we also deserve.
By contrast, we now have a challenger, who was a former Minister for Petroleum Resources (he leased no jets) and a former Head of State (no Presidential Airways then). Yet, he could state, without fear of contradiction as follows: “While others who have occupied those same positions have grown mysteriously rich, I still live on my army pension. I own no foreign bank accounts, I own no companies profiting from government contracts.”
To me the difference is clear; as clear as drinking tea or coffee with milk; or drinking mud water. Let those who had become mysteriously rich explain the source(s) of their wealth to Nigerians – including how much tax they paid on them….

at when

Unstable as water! #winks#... But now its more unstable like the wind! #winks# ... Any way... Compliments of the season

All dis one na story.. all we want is a better nigeria.. hit like if u agree

datolee:
Sometimes I feel for the “poor” Nigeria voters who are constantly fed with half-truth and in some instances, outright lies. We are at it again, being told how perfect, stable Naira was under Buhari. To even quote GMB, . http://www.thecable.ng/exclusive-interview-im-opposed-muslim-muslim-ticket-says-buhari/2

Two things are involved here:

1. At no point during the administration of IBB was naira N80 to a dollar, the highest it was at parallel market was N21.90

2. When Buhari took over in 1983, the Naira was exchanging for N 0.724 to a dollar, by the time he left office, the Naira was exchanging at between N1.5 to 1.7 in the parallel market. We will make use of the N1.5 exchange rate.
From 1983 to 1985, the Naira moved from 0.724 to 1.5 representing a 107% depreciation of the Naira!

The question therefore, with 107% depreciation of naira from 1983 to 1985, how stable was the naira under Buhari?

Don't just come here and give us manufactured numbers. Show us prove showing the naira depreciated by 107% between 1983 and 1985. You cannot just manufacture number out of thin air. What was the exchange rate under Shagari administration? Don't just come here with half baked information and want people to believe your garbage economic data.

I am waiting for the data....