chinchum:
shhhhh, they can only weather the storm, they cant stop it. Stop being delusional. This current administration will manage the storm better, no doubt about that.

Firstly youre very rude in your manner of approach.

Secondly, get real 'managing the storm' requires policies in the right direction.
Even for your level of thinking, can you highlight one single sensible policy directed towards managing the storm?

Thirdly, please try and be reasonable in your response, im not going to allow you bring me down to your level and beat me at being whatever it is that you are.

Thank you

olas24u:


You are not blaming GEJ,s economic team?production is the key to sustainable development,the pressure on the naira is due to imported goods and capital flight by foreigners and foreign companies in Nigeria.Buhari is on the right track .

Oh yes, due to sharp drop in oil price FOREX income has dropped by over 60% , meaning FOREX expenditure mostly via imports must drop correspondingly. the deficit is becoming so much, that the use of FOREX reserve to make up the deficit will be unsustainable with out curtailing policies.

Trailblazer1:


This is the same BBC that Buhari only speaks through to Nigerians
You only listen to BBC when buhari speaks, but after that you turn deaf
Kontinu, your hypocrisy will soon be advertised on Aljazeerah

who will pay for the advert? omenka or passingshot?

naijaboy756:
Consequences of chanji dole!!!

Lol. Yes, na APC dey fall oil price. Na APC no greee save when oil dey $103 and above...Guy stop joking joor

unclejb2:
Buhari is the worst thing that happened to Nigeria. By 2019 Nigerian economy will be as battered and destroyed like the North East

so what exactly did he do to destroy the economy in less than a year?why was IMF in the country ,what were they doing here ,what did they discuss,all the foreign trips what did they discuss.china was ready to buy the whole oil fields in exchange for infrastructure development ,does it not make sense to sell the whole shit for infrastructural development before it becomes coal.This is politics

SLIDEwaxie:
This BBC is one stupid news platform.

Where is the worsening economy?

Did the govt say they cannot pay salaries or cannot fund the budget?

This long sighted govt already said the oul won't be a factor. We are finding thru tax and internal revenue from govt agencies. If customers cld make 0.98 trillion in 9months, then we have no problem.

Whenever oil dwindles, the yeye BBC will hit on Nigeria. Dem send u come?

Abi ko fe daa fun yin ni ke?

Shut up and say what you know! I have been listening to BBC World Service Radio for close to 2 decades. I actually listened to Nkem Ifejika ask the analyst questions on Nigeria's economy this morning before leaving for work, and he said what you have up there.

BBC reports your economy just the way it is. When NOI and Obasanjo got the Paris Club to forgive our foreign debt, BBC was always saying sweet things about Nigeria's economy and the positive effect it would have for FDI in Nigeria. Also, when NOI and GEJ rebased our economy and it was announced the biggest in Africa, BBC was also full of praises for Nigeria's economy.

My point is, don't condemn the white man because they tell you to your face that something is wrong with you when you and I know that something is actually wrong with you.

Nigerian Govt really needs to redirect her revenue generation source now that crude oil is on a free fall as a way of getting us out of this mess.

oduastates:
What did you do with the money when oil prices were high?
Nothing?
Only remittance from the diaspora is saving Nigeria right now. You can shout transformation agenda as much as you can, Nigeria clock has been turned back by Jonathan and Iweala straight back to 1982.

If you do not know about something, please STFU rather than show your ignorance for public display, okay

FG, States, LGs Share N568.4 Billion for Oct



[img]http://cdn1.vanguardngr.com/wp-content/uploads/2015/09/412x247xOkonjo-Iweala-e1442838220305.jpg.pagespeed.ic.nz-K0adxSv.webp[/img]



Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that [size=14pt]the states had requested for $2bn[/size] to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

Descartes:
Buhari should resign honourably for having failed in his duty. He surrounded himself with sycophants and incompetent people who long been maasturbating at the corridors of power in a bid to loot.

dumb Fu(K, most unreasonable post so far

luvinhubby:
Most economic indices was pointing upwards for Nigeria until Buhari started making comments in the foreign press like "Nigeria is broke" & "Nigerians are corrupt" & since then every foreign investor ran.

PMB only revealed the true state of the economy (which the past PDP led government destroyed).

If the PDP led government had continued in power, the situation today would have been far worse.


Nigeria will be great again.

refreshrate:


Firstly youre very rude in your manner of approach.

Secondly, get real 'managing the storm' requires policies in the right direction.
Even for your level of thinking, can you highlight one single sensible policy directed towards managing the storm?

Thirdly, please try and be reasonable in your response, im not going to allow you bring me down to your level and beat me at being whatever it is that you are.

Thank you

sharp drop in oil price FOREX income has dropped by over 60% , meaning FOREX expenditure mostly via imports must drop correspondingly. the deficit is becoming so much, that the use of FOREX reserve to make up the deficit will be unsustainable with out curtailing policies. Crude oil price today has it the 30usd mark. We are in a storm, a big one at that, a 7.5 months old administration came in at the thick of the storm.

Lastly, i cant see you on any sensible level as i look down on you, from the peak i am, with a perception of you as some one with a lack of common sense.

ozoigbondu:
Bubu body odour caused it

www.nairaland.com/attachments/3237682_image_jpeg9f360c5ab7736510df54c882e9dbf188

PMB and APC busy blaming the last administration instead of working.

If the BBC does not report negative news about Nigeria they won't breath,this is the kind of news they like reporting.

chinchum:

Oh yes, due to sharp drop in oil price FOREX income has dropped by over 60% , meaning FOREX expenditure mostly via imports must drop correspondingly. the deficit is becoming so much, that the use of FOREX reserve to make up the deficit will be unsustainable with out curtailing policies.

I think the previous government created loop holes in-which money was moving out of Nigeria,How can you still be importing food and allowing does Indians and Lebanese to reap the country .we can save foreign exchange from food imports,and food should be a form of national security because, life is short in Nigeria due to some of this food imported. we also need our own airline to save foreign exchange.

unclejb2:
Buhari is the worst thing that happened to Nigeria. By 2019 Nigerian economy will be as battered and destroyed like the North East

.....What has Buhari got to do with Falling Price of Crude Oil at the International Oil Market? .......Open your eyes and read about the so called # World Super Power Economies # 3 DAYS AGO, CHINA HAD TO SUSPEND ITS STOCK MARKET TRADING BECAUSE OF SOME ECONOMIC DOWNTURNS RIPPLES ALL THE WAY FROM EUROPE and you expect PMB to perform MIRACLE on an ECONOMY that only depend on OIL export and import? Pleassssssssssssssssssssssssssssss

This is a stupid news from a foreign tabloid. The Nigerian economy may not be strong due to decline oil prices, but do not relate it to foreign speculative investors, whose aim are to make profit from buying our government bonds or private shares.

https://www.youtube.com/watch?v=cESuB03Jb8o

https://www.youtube.com/watch?v=D3tbSHrGxxI

Which way Nigeria, which to go, I love my father land, I want to know, which way Nigeria, so Nigeria won't Die.

Things will surely get better. Only a matter of time.

Boss13:
This is a stupid news from a foreign tabloid. The Nigerian economy may not be strong due to decline oil prices, but do not relate it to foreign speculative investors, whose aim are to make profit from buying our government bonds or private shares.

..GBAAAMMMMMMMMN

omenka:
Just look at them. Don't you feel sorry for them?? All day they were in hiding because good news flooded everywhere, but now bbc has given them a hint of "bad news", suddenly you see them popping out from everywhere like vampires after sunset.

Everything they've said boils down to the price of oil and how it is affecting us, even the report says so. Had their lord and saviour, the Clueless One, done what he was supposed to do with all we made from crude sales during his admin when oil sold mostly over $100pb, instead of stealing everything in sight, perhaps the need for this news wouldn't have arisen.

But hell, what do we expect? Good or bad news, they are programmed to wail and curse the president simply because they HATE him and hate that he defeated their god.

I hope and pray you fellas cry for seven more years. You aint seen nothing yet.

what good news are u talking about? For d past 2 months d only news coming out of nigeria has been d arrest of buhari's perceived enemies, dss lays another charge on kanu; dss defiles courg order, bayelsa election, metuh arrested, liar muhammed lying his ass off about boko haram, 300 shiites killed, 3000 soldiers refuse to go to sambisa, dasuki gave 500 million to this person or to that person,fg to spend billions acquiring BMW and mercedes cars, the whole senators get a prado jeep each. So please where r d news u r talking about? Can u do us all a favour and list them here. Deep down inside u u know that nigerians never had it this bad under jonathan and u know that buhari has no idea about what he is doing or going to do. I rest my case.

ZuzuMan:
.....What has Buhari got to do with Falling Price of Crude Oil at the International Oil Market? .......Open your eyes and read about the so called # World Super Power Economies # 3 DAYS AGO, CHINA HAD TO SUSPEND ITS STOCK MARKET TRADING BECAUSE OF SOME ECONOMIC DOWNTURNS RIPPLES ALL THE WAY FROM EUROPE and you expect PMB to perform MIRACLE on an ECONOMY that only depend on OIL export and import? Pleassssssssssssssssssssssssssssss

[img]https://www.nairaland.com/avatars/rfpz2aiih02arcv4l0q6myapvub3qyub1364484[/img]


www.nairaland.com/attachments/2186280_buhari2blaugh1_jpegc35d9ea4e30142f9302718e17f58f220


www.nairaland.com/attachments/2241285_apc20val_jpegd8974d69b37695e4b5dcc89fbc62a3e2

Effect of operating a mono economy

chinchum:
sharp drop in oil price FOREX income has dropped by over 60% , meaning FOREX expenditure mostly via imports must drop correspondingly. the deficit is becoming so much, that the use of FOREX reserve to make up the deficit will be unsustainable with out curtailing policies. Crude oil price today has it the 30usd mark. We are in a storm, a big one at that, a 7.5 months old administration came in at the thick of the storm.

Lastly, i cant see you on any sensible level as i look down on you, from the peak i am, with a perception of some one with a lack of common sense.

oga next time when they ask you to highlight policies, do that. All you have succeeded in doing is stating the present economic situation.

coming here to state the issues rather than how the government is intending to solve them as asked clearly says alot about your thought process.

whatever level you think you are, your responses betray you...then again empty barrels they say...

luvinhubby:
Incompetent economic management occassioned by shallow minded politicians who will rather want to be seen as welfarists than anything else.

First step should have been, raise VAT to between 7.5 - 10% & reduce govt. borrowing but hell no, they will borrow N2 trillion & spend 70% of it on recurrent expenses added to the extra N1 trillion of last half of 2015 & a projected N1 trillion from further collapse of oil price coupled with the unrealistic N1.2 trillion projected non-oil exports in 2016 which will further drive up our budget deficit to around N4 trillion in the next 10 months.

At this pace, Nigeria will spending 40-45% of our annual earnings 3yrs from now servicing debts.

How did we get here?

APC should not destroy Nigeria biko.

Correction since you had to go into politics. The ruling government (APC) should not make an already BAD situation from the previous government WORSE!

EternalTruths:


I pray oil falls to the point where One Nigeria hypocrites will be forced to finance Nigeria with their resources

And if they insist on True Federalism, their request will be rejected.

And if they secede, may God judge them.



God bless SE/SS

i want it to fall and lets practice true federalism..its high time we grow up as a nation...let the oil price fall so that one olodo in the north can work hard to generate money for his state rather than sit down to wait for the FG..no state should suffer at the expense of the foolishness of another...nigeria needs to grow...

grandstar:
Buhari is in the mold of Julius Nyerere and Kenneth Kuanda: - honest leaders who left their economies in tatters.

Buhari's understanding of economics borders on zero. This restrictive foriegn exchange policies are adversely affecting all sectors of the economy and inflation is rearing its ugly head.

If these wrong headed policies continue for the next 18months, Buhari should kiss a 2nd term bye bye.

APC will give him only so long.

Businessmen will have a strong influence in politics from now on.

They won't take a risk on sentiments by hooting for a shoeless politician or simply a man of integrity.

They will root for a tested technocrat. I suspect the governor in Kaduna may be the man

Spot on!!

Gionee p4 for sale in Benin city (running latest android 5.1.1 cm12.1 base) 10k call or whatsapp on 08039527105

Trailblazer1:




This is the same BBC that Buhari only speaks through to Nigerians

You only listen to BBC when buhari speaks, but after that you turn deaf

Kontinu, your hypocrisy will soon be advertised on Aljazeerah

Cc. Trailblazer! One bottle of origin 4 u.

E pain the guy

uboma:



PMB only revealed the true state of the economy (which the past PDP led government destroyed).

If the PDP led government had continued in power, the situation today would have been far worse.


Nigeria will be great again.

Chinese state visit: up to £40 billion deals agreed

https://www.gov.uk/government/news/chinese-state-visit-up-to-40-billion-deals-agreed


This was shortly after your president went to the same UK to go and be talking rubbish about Nigeria and Nigerians. Seriously what are you people going on about?

certainly not same class with yours.