NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

What a wasted opportunity. They say "opportunity comes but once" yet we've wasted ours twice with regards to oil boom. I pray oil never ever rise again so that we can achieve our true potentials.

davodyguy:
The greedy importers would still see the black market situation as an avenue to exploit. Cost of imported tyres on the rise, instead of them looking inwards on made in Nigeria tyres

Biko, tell us...

Which tyres are made in Nigeria? Abi where are they making tyre in Nigeria?

Or don't you know that the Dunlop factory in Lagos is now a combination of Zenith Bank and church hall?

So where are they making the tyres!

Some people will just type anything because they have an internet connection sha...I don't blame you. I blame MTN and Airtel and Etisalat that gave you free data

NgeneUkwenu, what exactly is the aim of this thread?
To tell us that we shouldn't worry because we ain't in this mess alone?
Going by what thus present government promised Nigerians during campaign, you as an staunch supporter should go and hide yourself in shame at least for now. GEJ failed, that we all know, but to still be telling people that after 8 months is simply ridiculous, going by how the government has fared so far without any blueprint whatsoever to tackle the already identified problem. I hardly comment on politics but each time I read some of you guys post I begin to wonder how you guys reason honestly.
The truth FOR NOW is that APC led government is nothing but a kettle that called the pot (PDP) black. They have nothing to offer, so stop defending them. It makes you really cheap and robotic.
Good morning

I DONT BLAME YOU , COS YOU ARE CLUELESS

ishiamu:



You made no sense girl

ibietela2:


You that know how to read and you are still being used

used by who Dasuki, Ali Sheriff or who? or PMB who is cleaning una shameful mess? or by numero Uno Jagaban who has been ever consistent in making Nigeria the best? or who? those who said telephone is not for the poor? please who?

Demdem:


Seriously that is just the truth. No one is happy with current happenings but it's simply inevitable.

Yes it's really hard but we can't blame the current administration for this. We know better that Jonathan and His finance minister completely turned nigerians to consumer for the good six years.i wonder what the woman actually financed for the whole years in office. I live across the boarder and run a Nigeria bank account. The value of my savings have dropped seriously because as at last year 1k Naira was 2700cfa and as at this morning 1k Naira is 1700cfa.which means all my expenses have increase by the amount of digit lost in Naira.but what worries me is that Naira value on forex still remain the same and balance with every other currency but money speculators have make the whole thing look as if it's over. but I still have faith that things will turn around in favour of unemployed Nigerian youths.

This is the kind of thread U'll see zombies flood into and feast on like flies on shit. Yea our over reliance on oil has caught up with us in the light of falling oil prices and dwindling economy. But in d face of these current realities d same govt is still budgeting huge sums for oil exploration and yet u blame d past for the current situation? ? How much was budgeted for mining and agriculture?? How much was budgeted 4 d Aso rock clinic in contrast to the teaching hospitals and national hospital combined even though they'll still end up in foreign expensive hospitals for ordinary check up.. What percentage those people who were in charge for most of those 16years make up d APC?? All I see is hypocrisy and some of us jus want to believe in anything so much we jus don't want to look at d stark realities on ground.

[quote author=Demdem post=43057070]

We should start looking for alternatives to oil to get foreign exchange. The govt is on track and they have singled out natural resource and agriculture for this. The challenge here is u will need to invest in them first before returns and this can't happen just within months. Fayemi has started work, serious work and am confident he will deliver.
Pending when this happen, we will have to continue to endure the pain of being a monoeconomy at the mercy of oil price. Baba has done it in such a way that the elite will suffer more while the poor feel it less. He never promised us magic so expecting one won't make sense.[/quote
Okay..is der a time frame?

NgeneUkwenu:


It is Only Nigeria that has not devalued its currency...Can't you read?

it s useless wasting time with folks who don't read. so how do u expect their reasoning to be informed ? when election comes anytime,any day we Nigerians wey plenty pass shall always win . until after 4 years whatever these shameless satanoids who messed d country up for 16 years won't b taken serious.

luvinhubby:
The worst is that Nigeria elected a bunch of clueless lying demons headed by a retired grand pa who was lured out of retirement by a group of masked change chanting political robbers to come truncate an economic blueprint put in place by a globally reknown economist without any alternative plan.

Na only prayers i get for them.

Nigeria ntoorrrr !!

APC are fraudsters.

A parts dealer says "Nigeria ntoorrr". . Who suffers the most from these things if not folks like you?? As old as you are you keep acting like a little kid. Better behave oo.

You may reserve your prayers for your dying party- FFK your Hero says so.

ishiamu:



Those countries you mentioned are better than nigeria right now... as they have other source to make money than oil... Russia can decide to sell arms... your rubbish article to justify buhari's foolishness and ineptitude is not gonna scale thru... we struggle to send my sis sch fees in usa cos of policies of not using our atm in yankee... make buhari go mud jare... wonder why we worry bout mugabe when we have a higher mugabe...

were the other sources you talk about made possible over night. you just exposed GEJ inability to utilize the excess revenue realized where oil price was above $120. this administration stands to create such alternative, we are going to be hit for some moment especially those of us that depend on foreign goods to a large extent.
Nigerians spend excessively on goods they don't even utilize 5% of its use eg mobile phones, I ve watched some undergraduates and even graduates holding android phone with data in it and still asking questions like what is the meaning of quagmire, who is the governor of kano state etc, and I ask myself what is the essence of what he/is holding. students have iphones and ipad and still pay to get materials for assignments, print out the material, get home and write out the relevant aspects of the materials that answer the assignment. that is called duplication of effort and waste of resources. as a student, you have android phone in this present day of mobile banking and u still have to queue 4 hours at ATM point just to withraw 2000 to be paid to your room mate whom u earlier borrowed from, when this room mate of yours has as an account that you can easily sit at home and transfer money to.
all these goes to say we spend more than we should. it is time we spend less in those imported goods, use things for their need not just for fashion. time to look inwards is now

You think we didn't understand yesterday's analysis that you have to bring it up again today? mtchwwwww!!!

Hope all the other countries that are suffering this same low oil price situation were also been looted for the past 16 years by the pdp?

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

Well.....even if PDP did save every spare cent or kobo in 16 years(and OBJ and Yaradua did save).....at the end of the day....it would have just delayed the inevitable till next year.

In my opinion, if we had saved well....we would have had $100bn at the start of the oil prcie drop.That would have been good....but we would have been drawing heavily from that cash to pump up the naira....and without the oil price rising....it would have been drained by next year.

Somehow....Nigerians have to cut their coats according to size. And PMB should spend more on power.

. The major reason why the dollar is gaining ground against naira is simple, its the forces of demand and supply at work here. The CBN is restricting importers, firms, households, etc, access to the dollar to transact there various businesses so they are been forced to look for it elsewhere and the amount of dollar needed in this economy right now far outweighs the quantity available so naturally dollar will continue to gain against the naira in the forex mkt. The major reason the cbn is doing this is to encourage Nigerians to embrace import substitution goods I.e locally made products, even if crude oil is selling for $200 per barrel the cbn will still need to create this scarcity to encourage the purchase of locally made goods ( the point I am driving at is that naira will have good purchasing power over locally made goods but very weak purchasing power over foreign goods). So its left to us as Nigerians to embrace locally made goods and services to strengthen our economy so that our generations yet unborn will continue to celebrate us long after we are gone and thank God that this particular generation paid the ultimate price for Nigeria to be truly great Ours is a fortunate and blessed generation.

NighttWalker:
What the fvck are you talking about? Everyone's feeling the heat, my uni fees have almost doubled thanks to buharis government and the devaluation of the naira.

what he said is as clear and as plain as ABC. If you earn more money, common sense tells you you should save more for the rainy day. If you refuse to save for the rainy day, it will be foolish of you to expect miracle. The guy's submission is so apt and incontrovertible

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

What is this one saying?

You are sick to the bone marrow
Continue deceiving yourself.Your Almighty Buhari that promise to correct the wrong the so called past 16years caused come up with this type of budget proposal and f**L like your will do nothing but defend him
Let me ask you one question
What happen to 35years before the 16 years since is only 16years people like you remember
Our country is going south
Your certificate less dullard is busy appointing media aid in stead of strong economic team
You are here blaming 16years they rooted your fund
Hypocrites likie you is the reason thus dullard has the gut to do any how

How many of this past 16years governors are in this your SAINT administration?

You only know how to blame GEJ and forget the Zombie governors now in APC


Get a life...You have sold your conscience to one NEPA bill dullard
Spit*

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

lurlah2014:
I DONT BLAME YOU , COS YOU ARE CLUELESS

Let's not go into e-fight I love you we can talk elsewhr

U join NL 2days after me

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

Stopping blaming others for Buharis incompetence.

Who told him not to devalue the naira?Was it PDP?

Who told him to exclude 41 products from accessing the CBN for credit? Was it PDP?

Who told JP Morgan to delist Nigeria from their index? Was it PDP?

Who told Soludi, Sanusi and now Pat Utomi to condemn his economic policies? Was it PDP?

Buhari may be a man of integrity but his economics suck. I have written off the economy since July last year. His policies are apalling!

davodyguy:
The greedy importers would still see the black market situation as an avenue to exploit. Cost of imported tyres on the rise, instead of them looking inwards on made in Nigeria tyres

Even cost of Nigerian used cars are on the rise due to the greedy nature of Nigerians. You no import, you dey put money on top scrap wen you wan sell just because you know the alternative is far costlier due to devaluation matters.

Demdem:
even at that babas leadership has ensured that only the elite at most feel the brunt of devaluation. Most vulnerable who happen to be the majority dont even know or feel its impact.this explains why as against the elites call that he should allow the official rate to fall naturally, he says no. Let the overfed go source for their dollars elsewhere to fund their luxuries.

You are mistaken. Cold pure water is now. 10naira. Before it was 3 for 20. May it 20 each by this time next year if this insanity does not stop.

Hypocrites is when you blame GEJ for past 16 years and applaud somebody with #budgetgate
Shame on you all
Thank God na everybody dey feel the heat

Country hard o
1bag of pure water = N200
1$= N400
Body odur at work

ishiamu:



Those countries you mentioned are better than nigeria right now... as they have other source to make money than oil... Russia can decide to sell arms... your rubbish article to justify buhari's foolishness and ineptitude is not gonna scale thru... we struggle to send my sis sch fees in usa cos of policies of not using our atm in yankee... make buhari go mud jare... wonder why we worry bout mugabe when we have a higher mugabe...

Soludo, Sanusi and now Pat Utomi have all condemned Buharis economic policies. If he had allowed a managed devaluation of the naira at the official rate, the naira would have fallen to 240 at most.

You can see wht JP Morgan delisted the country.

Excellent and straight forward analysis. There is no magic wand to get out of this mess except oil prices improve and demand for nigerian crude also increases. There is a difference between production and market sales. We produce but not finding buyers even at the low price. We all need to look inwards and produce more locally. There is no reason whatsoever for Nigeria to import biscuits when there are very good biscuits made in Ota in Ogun state. We need to curb our appetite for foreign things that don't add value to our existence. Together we can grow our economy by change of attitude. The youths have a great role in this they should think out of the box and develope more productive ideas. Thank you all.

Iroh88:
A parts dealer says "Nigeria ntoorrr". . Who suffers the most from these things if not folks like you?? As old as you are you keep acting like a little kid. Better behave oo.

You may reserve your prayers for your dying party- FFK your Hero says so.

APC is a fraud & a Buhari is super clueless.

Nigeria is worse of today than 12 months back, all thanks to this mega scam called APC .

For how long will people keep harping on PDP.....what did APC promise during their presidential campaign? Oil price had already started falling, dollar steady Increasing, so APC knew what they were getting into. You cannot open a thread & start shielding them whereas they agreed to be @ helm of affairs by contesting.....Despite the fall in oil price, Buhari promised $1=1naira, what was he thinking when he made that sentence? We have to hold our leaders by their words, he and osibande promised good tidings before they won. They promised CHANGE! So they deserve all the bashing if the so called CHANGE hasn't come yet! Feburary is almost gone and we still do not have a Budget, yet you want foreigners to come & Invest. #Call a spade a spade !

ishiamu:


The one I mentioned is it wrong?

What u stated is common knowledge but if an economy that big is feeling the pinch that badly then where does one place a monolithic economy like ours.

If you think it doesnt affect Russia that badly think again cos jst few days ago they agreed with Saudi to cut back oil production. Read http://www.cnbc.com/2016/02/16/russia-saudi-arabia-output-freeze-helps-oil-price-higher-in-asia.html

I remember when Kachikwu voiced same, some of ur cotravellers flooded this platform witth inanities.

For as long as we remain a monolithic economy our destiny will be puppetered by the crest and troughs of the oil market except we diversify.

In the SHORT TERM pending when oil prices pick up and our currency gains some of its lost weight, no fiscal policy will have any significant bearing on our economy, if there was ssome magic wand somewhere, other more advanced economies would have employed same.

So expectin the handlers of our economy to pull a rabbit out of their hats borders on the realm of incongruity!

If only the past government had heed its own warning of putting buffers in place, we wont be feeling the bite this much!

Folks like u hate it when the question "How did we get here?" on the issue of our econony is thrown up, because no matter how u dice it you still come back to that shifting sand of the crass profligacy perpetrated by the "nest of killers".

U folks have two words for this right? You call it BLAME GAME just like you got urselves two words for the war against corruption-MEDIA TRIAL!

It beats my imagination that folks like you who are accomplices to murder are the most vociferous for a resurrection of your murdered victim!

Trillyonaire:
Im sure PDP was in Power in all these countries

We know PDP was not in power but if as you now agree it is a general problem, why blame Buhari for the down fall of the naira?

i think instead of we pointing accusing , what is the solution to this current problém.

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

I love you for this. I hope the ignorant and follow the crowd ones will key into your understanding..

God Bless Nigeria

NighttWalker:
What the fvck are you talking about? Everyone's feeling the heat, my uni fees have almost doubled thanks to buharis government and the devaluation of the naira.

Thats exactly what we are talking about. You are feeling the heat because you abandoned our schools for foreign schools thereby killing out economy.

Kpele. Go to Uni, or covenant or any of our schools. Boost the economy. Do not blame Buhari for everything when you can help.