Ikonjo Iweala is planning to increase tax rates even VAT,then maybe fuel and other energy cost will follow,instead of reducing the price just like Yar'ADUA did. But they are not talking of reducing the Satanic Entitlements of The National Assembly,Executives,and other MDG'S HEAD,and plugging sources of waste,stealing and corruption.
She also talks of diversifying the economy since she came to office,but did not do anything apart from publishing the monthly allocation to states and local governments.
When the oil price was high why didn't we enjoy prosperity? Instead they wanted to kill with high energy costs using Voodoo Statistics of subsidy
Even with all this,the stealing continues to increase,the corruption also competing with rates of stealing,looting spree advancing.

musicwriter:
Yet, the national institute of statistics came out few days ago with impresive results of fallen inflation. And I remember quoting Naira at N178 to $1 and one novice was all over the place making noise.
Unless we're exporting what the world need forget about economic development.

Bro u just said it all. Unless we export what the world need. Our basic survival almost totally depends to much on the outside world. Naira falling against the dollar is a simple indication that our dependency on "them" is increase by the minutes

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

That can be so if only u source all your inputs from within. But ifu have to buy ur R\M from abroad,then cost of production will rice, output price will rise, emplyment Will fall and hence high inflation

synergycom19:
Ikonjo Iweala is planning to increase tax rates even VAT,then maybe fuel and other energy cost will follow,instead of reducing the price just like Yar'ADUA did. But they are not talking of reducing the Satanic Entitlements of The National Assembly,Executive,and plugging sources of waste and stealing and corruption.

She has no choice....we need the oil price to be $126 per barrel to meet financial obligations....but right now it is below $60..and falling (inspite of what the Saudi Minister of Petroleum would have you believe).So, the taxes have to go up...or else there will be no kudi(and while I think the National Assembly needs its money supply reduced....it still may not help much.)

PDPwayoo:
Bad news for the poor/jobless/low income earners and good news for people living in abroad sending hard currency home. Wow, opportunity to buy more lands and properties.

?/?/

This is one best thing to happen to Nigeria, we are on the road to greatness.
we're known to spring surprises when the world think we're totally down.
It's also known that human beings are mentally lazy in comfort nd in midst of plenty.
Watch out, Nigeria is on the match to greatness ,. i am ready for the new phase, are you?

omenka:
Rubbish!

If this isn't coming from NOI polls then everyone should disregard it. It is a concocted lie from the propaganda mills of APC!!

you are one of the people who are obssed about the progressive party right? Dude 16 yearz is enough to give us stable power supply now,it is enough to give us good roads now. Everything that is happening to our great economy is caused by the APC right you are on l long thing.

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

Good on you for looking out for the silver lining. It would only be a boon if we were an export based economy like china. But we don't produce anything. Most entrepreneurs here are traders and a rising dollar can only be a bad thing. People who make rare items like hand crafted bags, shoes etc would do okay which ever direction the dollar goes.

muchbeauty:
Nigerian economy needs to shift its total dependence on crude oil alone, we are blessed with a lot of resources. That is why we need a true government that would help us become a nation with diverse economic potentials other than everybody dreaming of working in the oil sector alone because it brings the most income. This is sad.

Amen to that.

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

hw.......cos i dnt gt u

temitemi1:
We survived economy meltdown, so we will survive this again. God bless Nigeria!!!

do u knw y we survived? It was because we had huge external reserves. But now we know dat our corrupt govt has emptied it

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

Not cheaper, more expensive in fact. Only commodities exporters will gain from a weaker naira because they'll earn more nairas for every dollar worth of their commodities. Industrial manufacturers on the other hand will have to pay more nairas for raw materials and machinery which they have to import.

beneezy:


Bro u just said it all. Unless we export what the world need. Our basic survival almost totally depends to much on the outside world. Naira falling against the dollar is a simple indication that our depency on "them" is increase by the minutes

You're right. And I have shown the way to economic freedom to not only Nigeria but all Africa. See my signature.

Goodluck is doing a very good job; by the time he is finished there will be no doubt about his scores.

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

you should add all things being equal. But given the reality on ground that is not the case in Nigeria where almost every sector has to import raw material needed for their operation.

Ignorance being showcased by the usual suspects. The cost of everything is rising. Cement is back to its old price.

The goods that will be manufactured require materials bought with forex.

Even the chinko innoson cars will increase in price. And some illiterates are demonstrating that they are still under their parents roof.

Nigeria is going bad financially, God abeg do something!!

it's really good for those who have a product to sell internationally. i remember last time i auctioned my domain name for $28 USD and was expecting about N3000 into my acc but my account was credited with N4020. for those that are still searching for a way to make money online, invest in domain names and smile to the bank. click on my signature for details

[quote author=Elcapo post=29041522]#‎ Nigeria‬ is really
getting interesting..
Fellow compatriots, we
need not shout
nor fight ourselves.
President Goodluck Johnathan is a good man as a person,his simplicity and
gentlemanness is
second to none.
*He has given us his very BEST over the last 6 years. I mean,what else are we asking for?
*He has granted
Alameisiya 'STATE
PARDON' and my guy is now running for Senate.
*He allowed Fayoose to distrupt a court
session and beat up a judge, while he walks freely. I wonder if Nigeria is sane.
*He locked up the
house of rep from the entrance of
the CONSTITUTIONAL
speaker of that
house.
*7 law makers
impeached a speaker in Ekiti in a house of about
26 men, and
nothing happened.
*16 was suddenly
greater than 19 in
base 10, just to cancel the one-term agreement he signed with the NIGERIA Governors' Forum and all Nigerians in
2011.
*Subsidy has been removed and the standards in our hospitals have reduced with time.
*$20 billion is missing and minister of
Petroleum eats and dines with the
prexy.
*Another BIGGER
& BOLDER subsidy is scheduled for
1st of June,2015 and you may have
to sell your laptop charger before
you can buy fuel
to charge that same laptop!!!
* Earlier this year, over 22 innocent
Nigerians were killed and injured in the job scam
organized by the
Nigerian Immigration
Service(NIS) . The
Minister of Interior, Abba Moro,told us the job interview was "simply mismanaged" and he has retained his office and even with extra luggage.
*1 Naira used to be equal $1 to 1.4 under ‪#‎ GMB‬ but now it's #194 to just $1, the worst ever in our history.
* Madam Gele, Ngozi Okonjo, just told us we need an extra $5billion, through debts of course, so that our economy will not collapse like
Humpty-Dumpty.
*While Benue State University was on an unending internal
strike killing the
future of poor
Nigerians, Senator
DAVID MARK (son of the soil) built his own PRIVATE
UNIVERSITY, of course with tax payers' money, and my gentle
nice president followed him to launch the
school shamelessly.
*He has spent all
money in the treasury and even had to BORROW an extra $1billion but # BokoHaram
keeps getting
more equipped than our military.
*Over 200 girls are missing, over
15,000 killed by
‪#‎ BokoHaram‬, over 6 million displaced from
their homes and
uncountable injured beyond repairs yet my president went to a meeting in
‪#‎ KENYA‬with 7
different PRIVATE
JETS..
*clears throat...
* # PHCN is giving their loyal customers
GENERATORS as xmas gifts for paying their
‪#‎ electricity‬bills on time.....
Goodluck Jonathan
Jesus °ƒ Otuoke ‪#‎ TransformingNigeria

JONATHAN

Exporters should double dia effort n increasing GDP

This harsh moment should be able to bring Nigeria'the sleeping giant' back to its feet once again..

Buhari will stabilise the oil price when he becomes president while Rochas will help us exchange 1dollar to 1 naira. Economic goofs!

Under this government, we import less cars and less food and some people are yet to see the diversification of the economy. What is happening to the naira now is called speculation and it is affecting all high population oil expoting countries. A weaker naira is very good for the economy in the sense that it will spur local manufacturing and decrease import why increasing export.

Removing fuel subsidy will discourage corruption in the sector and encourage importers of refined petroleum products to setup refineries locally; by doing this, all the forex used in the importation of refined fuel will be saved.

The reality is that the people of Nigeria fought the only government that had the courage to usher in this sustainable development. We do not want to make sacrifices to gain our future.

Subsidies should be directed to encourage local production and not importation. The orient refinery in Anambra is not producing today largely because there is no profit to be made in a highly subsidised market. Nigerians own refineries abroad because there is little or no profit to be made in the nigerian market.

One nigeria is a curse.

iykepromotions:
it's really good for those who have a product to sell internationally. i remember last time i auctioned my domain name for $28 USD and was expecting about N3000 into my acc but my account was credited with N4020. for those that are still searching for a way to make money online, invest in domain names and smile to the bank. click on my signature for details

Inflation will soon make that high amount valueless...especially when you head to the market...and notice that prices are higher.

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

I disagree with you sir. It is going to be bad in Nigeria very soon no be small. The minister of finance don't have any foresight at all as an economist you always prepare for the worst this woman didn't, now she is using fire brigade approach to protect our currency.

She is now doing things she should have done long time ago. She must be the dumbest woman to finish in Harry university.

Ode niyin sir =omenka

It's obvious that you APC peeps don't even know what's happening in the world oil and gas sector. You guys are just unnecessarily lousy and that's why your so called proclaimed saviour said he would make sure the prize of oil is stabilized and that's to tell you that he is empty headed cos he didn't see diversification as the first and needed action . He probably thinks the price of oil could be manipulated like the price of cattle or fura denunu.
For your information, more diversified economies such as Russia are even experiencing worse conditions. The supply of oil in the world market is high thereby forcing price to plummet and this is really affecting our foreign exchange earning & foreign reserve since Nigeria is a monocultural economy.
Now tell me, is the president the cause of the fall in the price of oil in the world market?
Was our economy multicultural before this present dispensation?
The cause of this problem is the lazy nature of Nigerians. Other regions don't contribute to national earnings because of earnings from oil and gas. I live in Nasarawa and the state is rich in narural resources of all sort but the state government is just idle doing nothing to harness these opportunities, they wait for monthly allocation from the centre........ I really pity Nigeria and Nigerians

Imagine you're sitting
back one evening,
planning your holiday
shopping list, knowing
that every day you wait
to get to the shops, the
value of your money will
be losing ground.
That's what's happening
in places like Russia,
Venezuela, Nigeria and
other nations that rely
heavily on oil exports.
Oil was more than $100 a
barrel at the start of the
summer. Now it's around
$70 a barrel, and many
forecasts say it could go
lower still.
Falling oil prices have
been good news for
consumers and
businesses here in the
U.S. and in the many
countries around the
world that import oil.
But it's having a domino
effect in oil-exporting
nations. Government
budgets are strained.
Economies are
struggling. The currency
is crashing.

Leebeedo:
It's obvious that you APC peeps don't even know what's happening in the world oil and gas sector. You guys are just unnecessarily lousy and that's why your so called proclaimed saviour said he would make sure the price stabilize the prize of oil. He probably thinks the price of oil could be manipulated like the price of cattle.

Most of the people supporting APC know what they are talking about. The full in charge of the economy is clueless. Cluelessness is and infectious disease that good luck has transferred to the woman in charge of the economy. The measures that she is putting in place know should have been in place long ago. She is panicking now knowing her reputation as an economist she has failed.
Back to you we listen to business news all the time you cannot lecture us about oil and gas. Further more, technology is changing every day so the demand for oil keeps falling.

Leebeedo:
It's obvious that you APC peeps don't even know what's happening in the world oil and gas sector. You guys are just unnecessarily lousy and that's why your so called proclaimed saviour said he would make sure the prize of oil is stabilized. He probably thinks the price of oil could be manipulated like the price of cattle.

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

This makes no sense at all. The naira is weaker only relative to foreign currencies, so that cannot affect the cost of producing goods or doing business in Nigeria. It can only affect the balance of trade, it makes it cheaper for foreigners to buy Nigerian goods and more expensive for Nigerians to import foreign goods. If Nigeria had a huge manufacturing base and export market already then a weaker naira might make sense but that is not the case, we are an import economy.