eph12:

The part of your comment I quoted says falling oil prices coupled with our dependence on oil is reason for the fall of naira and I agree. That GEJ squandered money that should have been used to defend the naira is maybe true but for how long do you think we can continue to defend the naira? Is that sustainable? The answer is definitely no. I believe Buhari is going to continue the diversifying effort Jonathan was doing or else we would be running around in circles.

Diversification of the economy is not a matter of choice if we want a robust economy. It is a must have and PMB is well aware of this fact hence he campaigned with it using mining as his his key focus.

Flets:


1.Kindly explain to me how Buhari is putting in those structures single-handedly? How can any sane and learned man believe that Buhari will single-handedly fix the structures across all ministries and parastatals when he is not even a technocrat in anyone?

2. All of a sudden you APC e-rats agree crude oil drop was responsible for Naira depreciation but you all hitherto blamed it on GEJ and his Govt. But you cant get away with that, We've gone through the impact in the fall of crude price and that ended at 218/ 220 per dollar. Unfortunately, the jump to 245 in 6 weeks is due to the poor policies by the CBN governor who has been acting as the Finance Minister and Buhari has no details to check and call the guy back to order. Emefiele is simply enriching his fellow bank executives through round-tripping because of the gap created by Buhari's negligence of the economy.

3. Why has the foreign reserve been on the news even when we've always added to it?... The answer is propaganda. Besides, since the CBN does not fund imports of those key 40 items that whose FX sales were suspended ... Those spare dollars are now available for the reserves... But at the expense of the fast depreciating naira.

4. Buhari has been wrong so far, its a different thing to argue online. Reality will set in soon.

I don't have time to go back and forth on the same issue. Read Buhari's article again. There lies in your answers except you deliberately want to ignore the points there.

tbaba1234:


It is not out of context, GEJ's failure was not in the low oil prices. It was in the fact that inspite of record high oil prices, we had nothing saved for the rainy day.

So our so called depleted foreign reserve is responsible for the fall in naira?

tbaba1234:


You are talking of the excess crude account, what happened to the foreign reserves?? How was it being depleted with record high oil prices?

Record high prices only work if you have record low .Deficits s and payments. Nigeria will only oil as major income continues to be negligible as long as it continues to remain an import based society(you end up paying for your deficits and accrued debts of governance ).

oshyno:
Soo our president had to land in US before he could communicate his governance direction to Nigeria people. Nigerians voted for u not USA . Maybe the tension we have right now in d stock market wudnt have been. Maybe there wouldn't have been a free fall for our naira if this communication has been made to Nigeria citizens.

You just confirmed one thing to me presido, u tremble b4 USA and daz a very bad demeanour for a head of a state. Usound like your giving Obama your score card and pleading or trembling rather for help as if we are finished. Daz a very bad signal coming from a president.

Much as I like atleast the direction your going now by your speech I wud implore you present yoursef like a siting president of the most populous black nation. Thank u.

People like you are NEVER SATISFIED!

Smart people chose their "moments" to say important things.

The President knew he will be meeting those who can "ADD VALUE to his INTENTIONS"..... not #WailingWailers like you who dont add any value.

Thus, if he had to make a policy speech, he has to direct it to "those who matter".
Sorry but plebs like you, who criticize out of hatred, who never see anything good in others, DONT MATTER AT ALL!

The free-fall of the Naira has to do with our Foreign Reserve, which is the most important thing that gives strength to a country's currency, aside other factors like export, imposts, e.t.c. ............... and that Foreign reserve was destroyed, looted and stolen by your Hero, JONATHAN!
He was busy distributing Foreign Currency to every militant, Traditional chief, Thug, Musician, e.t.c, just so he can win the Presidential elections.
So, What do you expect?

I understand Nigeria is a very vast country with porous borders and there are places for Boko haram to easily hide.
I also understand that with the use of DRONES, Nigeria can follow these Terrorists as they move around, gather intelligence on them without their knowledge, knock them out, e.t.c .....but the problem is that we dont have Drones!

So, it is not a bad idea if Buhari makes a strong speech in front of the President whose citizens and military have that equipment that we need.
Pride goes before a fall, you know!

So, go phuck yourself and let this President be, pleaze. YOU DONT COUNT, not one bit.


As for Obama, until l see one of his daughters married to another woman, as a confirmed Lesbian, he should keep his support for perversion (homosexuality) to himself. Chikenna.
#SaiBaba is married to a woman, he has children and l am sure he is looking forward to marrying them off to some handsome dude in future so, the Gay-f@ggot nonsense is a non-starter with us here in Nigeria!

May God give you wisdom, Mr. President.



Lastpage!

eph12:

So our so called depleted foreign reserve is responsible for the fall in naira?

Yes, do you not know that healthy foreign reserves is used to defend the naira... Economics 101

PassingShot:
It's only the foolish ones who repeat the same thing over and over again but expect different result.

I have come to realize that PMB needs time to carry out a thorough overhauling of the system if positive results must be achieved. Rushing things as done in the past will yield no desired outcome.


Imagine what absence of good governance framework has caused Nigeria in just last decade! A whopping $150bn!


At the emboldened, I agree completely but please communicate your plans more so that people don't unnecessarily become agitated as a result of unknown.

All in all, those of us who are solidly behind you are far more than the wailers against you.

..You made excellent and sound judgement here

oshyno:
Soo our president had to land in US before he could communicate his governance direction to Nigeria people. Nigerians voted for u not USA . Maybe the tension we have right now in d stock market wudnt have been. Maybe there wouldn't have been a free fall for our naira if this communication has been made to Nigeria citizens.

You just confirmed one thing to me presido, u tremble b4 USA and daz a very bad demeanour for a head of a state. Usound like your giving Obama your score card and pleading or trembling rather for help as if we are finished. Daz a very bad signal coming from a president.

Much as I like atleast the direction your going now by your speech I wud implore you present yoursef like a siting president of the most populous black nation. Thank u.

Of course it would take a trip to our new colony masters to give him direction on what to do next, I mean they did put him in office so what do we expect?

Till the fullness of time

Any individual that read this story in detail and to the best understanding will agree that a new era interms of sound mind and articulate leader is what we are blessed with in Nigeria.. I may bold to say that Almigthy has indeed bless this Nation with emergence of this president.. I thank God on behalf on Nigerian irrespective of their divide that our prayer indeed answered..
A deep thougth of this write up will make someone sobber to extent of sheding tears that we have been taking for ride years back...
My only prayer to God is to give #buhari long live with sound health.. Once again congratulations to Nigerians

tbaba1234:


Yes, do you not know that healthy foreign reserves is used to defend the naira... Economics 101

Well it's bad move using foreign reserve to defend naira. We have been doing that for a long time now and we just keep going down. Our demand for dollar is what's causing this fall. If we depend less on dollar our currency will improve. Common sense 101

tbaba1234:


You are talking of the excess crude account, what happened to the foreign reserves?? How was it being depleted with record high oil prices?

I bet you don't know CBN under Sanusi spent $117B defending the naira Are you trying to be naive with the question you are asking?

To fyiok dey hungry me baad bad!

The million dollar question is : Is there a NEED for Ministers in the running of the government?
If there is no need, then why bother to appoint ministers when the perm secs and the President will get the job done.
On the other hand, if ministers are needed for efficiency, accountability and policy formulations , then waiting for 6 months after winning the election to even submit a list to the National Assembly is, to say the least, (I'm lost for the right word ). Can't people advise the president or is he running a one man show? A Mr. Know - it - all ?

atlwireles:


I bet you don't know CBN under Sanusi spent $117B defending the naira Are you trying to be naive with the question you are asking?

Soludo spent when oil was selling at $30 per barrel and the reserves still grew... I do not agree with the statement that it was 117bn though

tbaba1234:


Soludo spent about half of that when oil was selling at $30 per barrel and the reserves still grew...

What was the situation of your payments and deficits during soludo!

convincing! Wot a plan! Dats a 1blow 7die 4d wailers. #Saibaba

bright007:
Na wa ooo.....


APC still campaigning even after winning election.
..



Every time you hear we will....we shall....



when are we gonna start hearing we have/ I have?

maybe in the fullness of time

Naa wa for u ooo. What do u expect to hear in less than 2 months. keep wailing

mrmetoo1:
Wailing wailers keep wailing

Guy where have u been?

omolami:
President Buhari Buhari Nigeria president is at it again. so dull and confused. Need to go to schl and obtain wasc

Says someone that didn't make proper use of punctuation marks and capital letters for acronyms.
Kindly remove the log in your eyes before going for the speck in our president's.
SMH.

tbaba1234:


Soludo spent when oil was selling at $30 per barrel and the reserves still grew... I do not agree with the statement that it was 117bn though

Then tell us how much was spent from the reserve during Sanusi's tenure, in defense of the Naira.

http://www.punchng.com/business/global-finance/the-logic-of-nairas-devaluation/

Lamido Sanusi spent $117bn allegedly on artificially keeping the naira stronger against Soludo’s $57bn. This made Sanusi the most neoliberal governor we have had. Who benefited from extravaganza more than western economies we imported finished goods from and their portfolio investors we benefited from strong naira that offered false stability and high interest rate arbitrage?

Sagamite:




And so?

When they voted for the Cretin of Otuoke what did you expect.

Instead of investigating and retrieving the funds, Goodluck Jonaadaft will tell you "Goat must to eat yam".

Abeg, Buhari, start with the $1.1bn that Dan Etete looted and Jonnadaft and Adoke took a cut of $300m to act as intermediary.

ah.... As i see cretin la san... I say make look back that voice looks like sagamite the dynamite of sagalicious sagamu. Bro you dey take too much holiday these days go. Kilode? Na family issue ? Nice to see you around sha. 2sexy

oshyno:
Soo our president had to land in US before he could communicate his governance direction to Nigeria people. Nigerians voted for u not USA . Maybe the tension we have right now in d stock market wudnt have been. Maybe there wouldn't have been a free fall for our naira if this communication has been made to Nigeria citizens.

You just confirmed one thing to me presido, u tremble b4 USA and daz a very bad demeanour for a head of a state. Usound like your giving Obama your score card and pleading or trembling rather for help as if we are finished. Daz a very bad signal coming from a president.

Much as I like at least the direction your going now by your speech I wud implore you present yoursef like a siting president of the most populous black nation. Thank u.

My brother/Sister, please we need our 150billion dollars back, and no country will be willing to let go of such an amount of money from her economy, all we need is to support buhari and tell him to be careful with what he gives in return for the favour, because i know nothing goes for nothing especially when you are dealing with the United State of America.

God bless the president
God bless Nigeria

biafranqueen:
Of course it would take a trip to our new colony masters to give him direction on what to do next, I mean they did put him in office so what do we expect?

HATERZ ALERT! @WailingWailers.com



Lastpage!

Islie:
Heheheh




Waiting that long for ministerial appointment

Yes, and if you cant wait use the lagoon.

eph12:

Well it's bad move using foreign reserve to defend naira. We have been doing that for a long time now and we just keep going down. Our demand for dollar is what's causing this fall. If we depend less on dollar our currency will improve. Common sense 101

Abeg, stop yarning Opata!

How can you not demand for dollar when all you guys do is rush to China to import sub-standard goods?
Are those goods bought with Naira ....or Dollars?

As long as we are an "import dependent, mono-income economy" we will always demand for the Dollar.
The other option is to increase our own level of manufacturing so that we have goods we can export, so that we also earn such Dollars.
Even more important is to PRAY that God never allow us to make the mistake a second time, of having a clueless President without shoes whose only pastime is lavish wastage of our Foreign Reserve!

Import Less, Export more "refined goods" as against raw materials like Crude oil, be financially prudent and jail looters => Vibrant economy.

Dont pay me for this, dash it out to the less privileged.


Lastpage!

PassingShot:
It's only the foolish ones who repeat the same thing over and over again but expect d

I have come to realize that PMB needs time to carry out a thorough overhauling of the system if positive results must be achieved. Rushing things as done in the past will yield no desired outcome.


Imagine what absence of good governance framework has caused Nigeria in just last decade! A whopping $150bn!


At the emboldened, I agree completely but please communicate your plans more so that people don't unnecessarily become agitated as a result of unknown.

All in all, those of us who are solidly behind you are far more than the wailers against you.

Well said Sir/Ma

In the area of communicating intentions to the letter, I beg to disagree. The existent cadre of public servants need deep and thorough overhauling. Cards close to chest is the right strategy to play.

Patience is a virtue. Years of disconnect amongst constituents of our systems deserve more than a fire brigade approach.

We shall get there, a step a moment in time...

A new Nigeria awaits the unborn.

#Newnigeria #pocoapoco

I'm ready to give Mr President time to change this country for the better, God bless Nigeria

lastpage:



People like you are NEVER SATISFIED!

Smart people chose their "moments" to say important things.

The President knew he will be meeting those who can "ADD VALUE to his INTENTIONS"..... not #WailingWailers like you who dont add any value.

Thus, if he had to make a policy speech, he has to direct it to "those who matter".
Sorry but plebs like you, who criticize out of hatred, who never see anything good in others, DONT MATTER AT ALL!

The free-fall of the Naira has to do with our Foreign Reserve, which is the most important thing that gives strength to a country's currency, aside other factors like export, imposts, e.t.c. ............... and that Foreign reserve was destroyed, looted and stolen by your Hero, JONATHAN!
He was busy distributing Foreign Currency to every militant, Traditional chief, Thug, Musician, e.t.c, just so he can win the Presidential elections.
So, What do you expect?

I understand Nigeria is a very vast country with porous borders and there are places for Boko haram to easily hide.
I also understand that with the use of DRONES, Nigeria can follow these Terrorists as they move around, gather intelligence on them without their knowledge, knock them out, e.t.c .....but the problem is that we dont have Drones!

So, it is not a bad idea if Buhari makes a strong speech in front of the President whose citizens and military have that equipment that we need.
Pride goes before a fall, you know!

So, go phuck yourself and let this President be, pleaze. YOU DONT COUNT, not one bit.


As for Obama, until l see one of his daughters married to another woman, as a confirmed Lesbian, he should keep his support for perversion (homosexuality) to himself. Chikenna.
#SaiBaba is married to a woman, he has children and l am sure he is looking forward to marrying them off to some handsome dude in future so, the Gay-f@ggot nonsense is a non-starter with us here in Nigeria!

May God give you wisdom, Mr. President.



Lastpage!

wow..This is a brilliant response to that wailing wailer..God bless the new Nigeria..

Carry go preso

shaqhead:

Guy where have u been?

Dude had to take a break from NL. The kids here were running wild at some point