Ugandans,cool down. Why all the insult? Out of the 5 reasons given, more blemes still on the past govt. Common,if are not with the happenings, use ur to PVC to avenge ur anger. Let the majurity and minority still decide democratically. Who insult done help? Hope u guys will vote in 2019? because the race shall be btw the pple u hates but scavenge on their land for survival.

Blaming Buhari isn't gonna help nigerians. The truth is Buhari has exposed the LIE that you have been living for 2 years. Fake 418ed Gdp by Ngozi and Kale. The truth is coming to bite you now. We have been telling you this since 2014.

[b]South Arica regained its 2nd spot in July after Egypt devalued their currency. Even Egypt is doing the very same ting that Nigeria is doing, capping their Egyptian pound, its 8.88 to the dollar in the official market while in the black market is 12.25 pound. Currently they are going around shutting all the black market traders in a bid to have a pegged pound to be effective. You cannot manufacture the rate of your currency, once you do that, no potential investor will ever set foot in your country. Now Egypt wants help from IMF, and IMF has given them conditions to give them that Loan, one of it is to devalue their currency once again to reflect reality on the ground.

What I am trying to show you is that in reality, Egyptian and Nigerian economies are very small compare to the South African one. Example, lets take Nigeria total GDP of N94trillion and divide it by the black market rate which is currently at N405 to the dollar, N94000/405= $232BN, and take Egyptian pound 2400/12.25 = $196BN and the South African one R4000/13.28 = $301BN. You see South Africa is the largest economy in Africa by far in reality. But if you consider the partially floated Nigerian naira at 94000/320 = $294BN, smaller than that of SA and the Egyptian one will be 2400/8.88 = $270BN.

Therefor:

1. South Africa = $301BN

2. Nigeria = $294BN on official rate and $232BN for black market rate

3. Egypt = $270BN on official rate and $196BN for black market calculated rate

Hopefully it makes sense, but its a simple maths[/b]

We are seeing change nigerians the RAND VS DOLLAR IS = R13.40 AND GOING DOWN SAME CAN BE SAID ABOUT THE POUND. Plus we will putting to ground alot of projects for the masses.

http://gazettereview.com/2016/03/top-10-richest-doctors/

The richest doctor in the world was born in S.A. in Port Elizabeth grew up in the former non white areas. Hes a township kid lived among blacks and coloureds in S.A. studied at our world class universities before he left for greener pastures in US. HES A TOP DOG THE AND THE RICHEST MAN IN LA.

DR SHIONG IS WORTH $13BN AND LEVEL WITH DANGOTE THIS. NOTE DANGOTE IS GOING DOWN.

Thanks alto now i know better . But the ugu aspect is it not anambra igr does fg have anything with it? And i think its more of individual thing all govt did was to provide enabling environment

obailala:
Nigeria is blessed with oil, but the oil turned out to be a curse as it made us as a nation to abandon every other means of income generation and relied only on oil.

How come SA was able to overtake Nigeria even without oil?
Ans: There are very very many sources of income for nations besides oil, SA relies on several other sources for its income. If only Nigeria diversified its economy to other sources of income e.g. solid minerals, agriculture, etc., we wouldn't have been in the present mess we find ourselves today.

How did SA overtake Nigeria?
Ans: Nigeria's economy is tied to oil, as soon as oil prices began to drop, so did Nigeria's economy, our GDP and the value of the naira.

As at January 2016 when the official Naira rate was N200 to $1, if you had N100,000, it means you were worth $500. But as soon as the Naira was devalued by almost 50% in June to N300 to $1, it means you are now worth only $333 instead of %500. Nigeria's GDP was worth over $500bn, the devaluation instantly reduced it to ~$296bn, making it less than the $301bn of SA.

Why is Angola worse off than Nigeria even though they sell more oil?
Ans: Oil is worthless almost presently; Angola makes almost 97% of its income from oil; Nigeria makes roughly about just 90% from oil. We also have other little sources, e.g. cocoa, Ugu exports etc. We can't also rule out the bad leadership of Angola.

Goes to show that a country can be great without oil so our giantism was tied to nothing but oil .

Emyogalanya:
Thanks alto now i know better . But the ugu aspect is it not anambra igr does fg have anything with it? And i think its more of individual thing all govt did was to provide enabling environment

The Ugu exports might be individual efforts like you said, but it all adds up; it's all about foreign exchange (forex) coming into Nigeria. The money mustn't go to government, as long as forex comes into Nigeria from outside, it helps our economy. Even Nigerians living overseas who just send dollars to their family back home, those dollars they send helps the Nigerian economy cos it counts as forex coming into Nigeria and it helps reduce the scarcity of forex in the country.

The mother of all the problems Nigeria is facing presently is that oil is the biggest source of forex inflow, and now oil prices have crashed, meaning that we have much less forex flowing into the nation. If every other state can tap into the Ugu initiative, export Ugu or any other thing that can be exported to increase the sources of forex, then the present problems in Nigeria will be over; that's the diversification we talk about.

Jah bless the picture is clearer now its up to our people to respond in the obiano way but except fg stops feeding states with oil then we have a long journey before us

obailala:
The Ugu exports might be individual efforts like you said, but it all adds up; it's all about foreign exchange (forex) coming into Nigeria. The money mustn't go to government, as long as forex comes into Nigeria from outside, it helps our economy. Even Nigerians living overseas who just send dollars to their family back home, those dollars they send helps the Nigerian economy cos it counts as forex coming into Nigeria and it helps reduce the scarcity of forex in the country.

The mother of all the problems Nigeria is facing presently is that oil is the biggest source of forex inflow, and now oil prices have crashed, meaning that we have much less forex flowing into the nation. If every other state can tap into the Ugu initiative, export Ugu or any other thing that can be exported to increase the sources of forex, then the present problems in Nigeria will be over; that's the diversification we talk about.

Emyogalanya:
Jah bless the picture is clearer now its up to our people to respond in the obiano way but except fg stops feeding states with oil then we have a long journey before us

Absolutely, the oil money being shared by the FG to states every month has completely rendered states useless.

Upright750:



ANGOLA economy is the worst in Africa tight now. Nigeria own is even better than that of ANGOLA .

Angola is in worst situation more than Nigeria, their interest rates or CPI is at 35%. So is Venenzuela which has 5 different exchange rate on their currency. The economy has crashed people are going hungry, shortage of food, shortage of almost everything.

obailala:

1. If Mr A picks up a knife and pierce Mr B's heart today, then Mr B gives up the ghost after doctors battled to save him for a week, does it make any logical sense to you to say the doctors are solely responsible for his death?... Saying Jonathan is not in the economic team is as illogical as claiming Mr A has no question to answer.

2. South Africa doesn't have oil as their source of income, so this question about SA and oil is strange

3. Ignorance is the only reason why anyone would be asking why the economy of Angola is not upside down. A little google search would reveal how bastardised Angola's economy is presently; of all the countries having oil as their main source of income, Nigeria seems to even be doing best in the present oil price crisis.

Angola and venezuela are in the dustbin, those economies have been crashed, completely bombed out. People must just google to get all the info, simple

Nigeria was No.1 by default all along, by capping its Currency at N197, so the currency was never its true reflection on the ground. So Nigeria spent lots of money defending that Capped N197 for 16 months while the South african currency has been the floating one for many decades. So Nigeria just bought its way up to the top by capping and defending the currency. The playing field was never levelled. Now since the CBN does not have oil money to defend the Niara, they opted for partially floating the Naira, the question is why not float it 100% like South Africa does. Whenever the Naira drops too fast, the CBN interfere, this is the reason no foreigner investors will set foot in a central bank controlled currency. That would be suicidal for the investor to throw their money in that economy and would not be able to take it out due o lack of forex.

Naira is at N395 to the dollar in a parallel market and the official one is at N320 to the dollar. In reality, once you float your currency, it will meet in between with the black market one, and the rate becomes one, the reason you dont see two currency exchange rates in South Africa because their currency is floated and no interference by central bank. But the Nigerian CBN is scared if they leave it to float on its own, it will crash to N500. But they are loosing lots of money by defending it, its a lost battle. Investors want a single exchange rate and there must be no interference from the central bank, but if the CBN continues with their interference, Nigeria is in trouble.

Ngozi lied about their agriculture figures. They 419ed the Agricultural business industry just to topple S.A. Leaving people and economists around the world asking. WHAT IS NIGERIA EXPORTING TO THE WORLD?

People in Z.A and abroad questioned these figures as everyone knew SOUTH AFRICA IS THE MOST ADVANCE COUNTRY IN AFRICA WHEN IT COMES TO AGRICULTURE. WE HAVE BEEN EXPORTING FOODSTAFF TO THE WEST FOR OVER 100 YEARS.

nigerians 419 economists forgot that Z.A. is larger than nigeria in LAND AREA and Z.A. has been TOP DOGZ IN THE FARMING INDUSTRY FOR 200 YEARS EXPORTING FOOD TO US,UK,GERMANY,BELGIUM ETC... Ngozi lied about nigerias agricultural output.

We have some of the worlds MOST EXPENSIVE WINES.

SOUTH AFRICA HAS THE BIGGEST SHORELINE IN AFRICA. We even catch people/Chinese stealing fish on our big shoreline. Note: S.A. WATERS ARE HEAVILY UNEXPLORED, WE DON'T FISH THAT MUCH EVEN THOUGH WE HAVE A BIG SHORELINE. We rule the fishing industry in AFRICA. Something that Ngozi didn't think about. HATE CAN BE BLINDING.

Z.A. FISHING INDUSTRY IS ONE OF THE BIGGEST IN THE WORLD. I have noticed that we have ONE OF THE BIGGEST SPECIES IN THE WORLD. SOUTH AFRICAN FISHES, ELEPHANTS,CATTLE,GOATS,HORSES,LIONS ETC...ARE BIGGER COMPARED TO OTHER PARTS OF WORLD.

WHY GOD

Atleast Buhari isn't about LIES AND MISLEADING PEOPLE. GEJ and Ngozi lied to nigerians in 2014 and no one questioned their lies.

While you eat BUSH MEAT and DOGS, we produce and eat real MEAT AND RANKED AMONG THE TOP IN THE WORLD.