ZKOSOSO:
Hahahahaha! Enjoy the Change while it lasts!!

Buharinomics is defined as garrison approach to forces of demand and supply with reckless abandon!!

AK 47 economics!!

sultaan:


You have no idea how the world economics affects the local economy and what type of damage GEJ had left behind careless spending destruction of elementary sectors of they economy by bans, restrictions and triple taxation now everything has come to a halt no more free money called duty

sultaan:


You have no idea how the world economics affects the local economy and what type of damage GEJ had left behind careless spending destruction of elementary sectors of they economy by bans, restrictions and triple taxation now everything has come to a halt no more free money called duty

sultaan:


You have no idea how the world economics affects the local economy and what type of damage GEJ had left behind careless spending destruction of elementary sectors of they economy by bans, restrictions and triple taxation now everything has come to a halt no more free money called duty

Xetima:


ROBOT. Use your brains please, or is it that you have none?

sultaan:


You have no idea how the world economics affects the local economy and what type of damage GEJ had left behind careless spending destruction of elementary sectors of they economy by bans, restrictions and triple taxation now everything has come to a halt no more free money called duty

magicminister:

Please educate me.
How does limiting my foreign expenditure to a paltry 1000usd save Nigeria?
That is crazy nah?
The economy has no direction and investors are scared shitless.
The stock market is plummeting and investors are scared.
GEJ didn't do that!
Lets stop throwing blames back and forth and demand the best from whoever is in charge.

Ghandi12:


Sorry brother, you are not alone in your trouble - so many people are experiencing similar pains in different forms.

But let us be clear about one thing - We can only blame Buhari government for lack of innovation, efficiency and responsiveness in ameliorating the current economic hardship.

In all honesty they cannot not be entirely held responsible for the root cause of the problem. Our current economic ailment has a number of sources:

% Number one cause is the deep fall and subsequent flatten of crude oil price in international market - This was achieved by joint effort of the USA and their friends.

% The former Government of GEJ left a latent disaster in the economy. They were patching-up things. Money was being stolen with recklessly, public officers were stealing without caution and finally the election spending was executed in millions of dollars. It is just a matter of time for these seeds of recklessness to manifest as we are having today.

PMB is trying to reverse many of the obvious anomalies in the system but so far one can make the following observations in his approaches:

% He wants most issues decided on his table - the implication is that many may die of hunger.

% He has problem trusting people (not like we can blame him though) - the truth is no human is spotless not even the Nigerian Angels.

% There are too many people at the top that do not believe in doing things the right way - he has been replacing people but his efforts are still appearing inadequate.

% There is also the factor unmotivated or unfit civil and public servants - they do not care about doing their job ; they just want salary and pension remitted at the end of the month.

% He also appears to enjoy too much hero-worshiping.

magicminister:


I only have one question.
How does limiting my transaction to a paltry 1000usd help nigerian economy.
Do you knoww that monthly house rent in western world is close to 1000usd on a monthly basis??
How does starving legit travellersnof bta help nigerian economy?

Its crazy naah!!

sultaan:


You have no idea how the world economics affects the local economy and what type of damage GEJ had left behind careless spending destruction of elementary sectors of they economy by bans, restrictions and triple taxation now everything has come to a halt no more free money called duty

SirJeffry:
Go back home, withdraw all the money you have in there, pack them in your luggage (not in your carry-on luggage) and return to the states shikena. Abi your visa don expire?

Ioannes:
when GEJ was dollarising the economy, throwing dollars all around for electioneering purposes, you didn't make a noise o, you were hailing him. see now? I hope you can see the effects on the economy.

sultaan:


You have no idea how the world economics affects the local economy and what type of damage GEJ had left behind careless spending destruction of elementary sectors of they economy by bans, restrictions and triple taxation now everything has come to a halt no more free money called duty

QuotaSystem:
Its basically to minimize excessive demand of USD which would further affect the value of the Naira adversely.

The govt's policy is to stop the Naira from going into a free fall by protecting it from market forces at this time.

If GEJ had not looted our foreign reserves, we would have had leverage to protect the Naira by other means.

luvinhubby:

Very soon GEJ will be blamed for your erectile dysfunction under a Buhari regime.

luvinhubby:

And has the naira not taken a massive nosedive since then, 245 to $1.
Investors are scared stiff of this administration rudderless policy direction & are yanking off the funds from our economy hence the free fall of the naira.

luvinhubby:

Very soon GEJ will be blamed for your erectile dysfunction under a Buhari regime.

ZKOSOSO:


Baaaad Guyyyy!

Or feminine frigidity blamed on GEJ!!

Meanwhile Igbos are been reduced to minority status by Bubu and his boys from the North in all public sector!!

QuotaSystem:


Funny but he is saying the fact.

GEJ's double disaster of wasting the opportunity to diversify from oil when prices skyrocketed, and his bleeding of our external reserves are the root cause of the OPs complaint. I am facing a similar situation (£190 daily limit) because of his utter cluelessness.

His minions are just grossly unaware of the damage that was done.

GEJ as a clueless President wasted and was tricked into emptying our reserves by his lazy governors and you think that's a defence?

We are being delisted from the bond indexes because the govt's policy outrightly rejects devaluation because it is illogical at this point (we export nothing) and will only benefit the same western forces. Don't be naive, the DJI/IMF and her sister agencies have never worked primarily in your interest.

Again, we have to adopt this 'clueless' policy because GEJ and his cohorts looted our reserves which we would have ordinarily leveraged on to defend the Naira. Seek knowledge not noise making if you don't understand the issues.

luvinhubby:

Was that GEJ or Amaechi led governors forum that refused that no oil earning should be saved in SWF but rather shared among them & went to supreme court to enforce that.
JP Morgan did their's this month and Standard Charted will delist us February 2016 & all because of PMB clueless policy direction.

magicminister:
what is going on with the Nigerian Economy?
It virtually impossible to receive PTA/BTA (travel allowance)

you cannot withdraw/transact more than 1000usd/month in any foreign store/bank

Zenith bank charges me approximately 1,500 naira per ATM withdrawal abroad!

i am scared for Nigeria.

E never start you dey complain

Anyway did you vote for transformation or change

If you voted change, then you must embrace it

If you voted transformation, with prayer, you won't feel the bad body odour

magicminister:


your comment is sooo shocking i feel the need to quote you twice.
brb..

QuotaSystem:
The reason investors are leaving is mostly because of our ejection from some popular bond indexes as a result of our governments policy to refuse devaluation of the Naira. So it's definitely not a lack of policy direction and its senseless to devalue at the moment when we are not exporting anything apart from oil.

The official CBN rate remains N198/dollar if I'm not mistaken.