Well. Buhari , Please do whatever you like, we are sick and tired of complaining . mtchew....

They said corruption was the only, numero uno problem we had in Nigeria and because of this Mr. Buhari was elected. End corruption and Nigeria will be great again they chorused. Fight the looters, hang those who steal....okay, corruption has supposedly ended, no more money is being stolen I suppose, then why for the life of me is nothing.....ABSOLUTELY NOTHING, getting better. Then they said, oh it is because we have not been saving and we wasted our reserves for 16 years.....but you have been saving for 18 months so once again..... why is the situation not getting better, rather worse. Okay, it is the oil price, it fell 60% from the dizzying heights of 2014 and production has been cut by unrests, okay.... but oil prices have remained stable at around 40 dollars for over two years now and production has been inconsistent for almost a year, why is the economy not stable at 40 dollar barrel size and adjusted to oil export cuts, WHY IS IT GETTING WORSE.

Things are declining persistently though we have a new and 'incorruptible' government, which has supposedly cut all the waste and is earning a steady stream of oil income albeit at lower price and production levels. Why then is the situation not stabilizing, why is it getting worse. The excuses are getting exhausted. What is the truth about Nigeria.

Joel3:
this will get to 800 during chrismas. seun lalasticlala


its time CBN allow banks to pay recipient in their said foreign currency transaction for foreign remittance. otherwise they are short changing the public and no body want to send money directly to Nigeria anymore.

some are already using mallam.

my brother i wonder wether these our leaders got brains at all.they should allow recipients collect there hard currency

m

I see no change

salabscholar01:
The lady above me is a pessimist-optimist... But your prayer will not work. How could you have such a negative wishful thinking? I have said it before that the drop in naira will make the rich to get richer, the poor to get poorer. Recession is a word... It does not affect the rich.




I can see it clearly that some folks who stack up their currencies in dollars are those making it big already today... And if the lady above is as straight as she had claimed, having her currencies in dollars somewhere, then good luck to her as she waits for the exchange to get to 1000/$. If not, then she is mocking yourself, not the country. To me, and to others who are just like me, I give you no prominence to your words..

She's just a fool.. if I bring a $10000 to Nigeria and exchange it at the rate of #1000 to a dollar, then when I want to travel back to the same America to get more , I will change it back at an higher rate....

she's a fool cause, it will affect both the rich and also the poor. even Dangote the richest black man has lost billions in terms of value due to this crazy exchange rate.

Zombies blaming Jonathan should remember that when Buhari took over power he spent more time travelling from one country to another forgetting his Nation is on fire.

The way Nigeria is going, it is better one travel out and start a new life, cause its a pity how first class citizens are treated like visitors in our nation.

[quote author=favexx post=49433040][/quote]


Don't worry girl, I typed that comment on wrong fingers I was half awake, half a sleep then.. You must forever remain mute as you have been, I regret those errors... good morning.

How much b $ for black market now??

Ezechinwa:


She's just a fool.. if I bring a $10000 to Nigeria and exchange it at the rate of #1000 to a dollar, then when I want to travel back to the same America to get more , I will change it back at an higher rate....

she's a fool cause, it will affect both the rich and also the poor. even Dangote the richest black man has lost billions in terms of value due to this crazy exchange rate.

Zombies blaming Jonathan should remember that when Buhari took over power he spent more time travelling from one country to another forgetting his Nation is on fire.

The way Nigeria is going, it is better one travel out and start a new life, cause its a pity how first class citizens are treated like visitors in our nation.

Guy why calling her a FOOl when you failed to reason out of the BOX? people coming into the country with teh greenbacks do not need to change the naira back to dollars when they leave? they buy stuff with it ie lands? cars? solves the problems of thier immediate families and go back empty handed to look for more dollars to do the same thing all over again
So as you can see you put 4ward the wrong argument, if your argument was about the buying power of teh green back after been xchanged to Naira on Nigerian soil then your argument would have been plausible.She can tie her Money to landed properties and buy cheap properties.From last I checked, the cost have Land has never depreciated.

d4guy:

Boss ave been following your post for a while now, I mean no harm oooo , it seems u re really thriving during this recession .. show some love to a brother !!!!

Lol i can always show love haha tell me how. Too bad no pm or dm on nairaland

Ezechinwa:


She's just a fool.. if I bring a $10000 to Nigeria and exchange it at the rate of #1000 to a dollar, then when I want to travel back to the same America to get more , I will change it back at an higher rate....

she's a fool cause, it will affect both the rich and also the poor. even Dangote the richest black man has lost billions in terms of value due to this crazy exchange rate.

Zombies blaming Jonathan should remember that when Buhari took over power he spent more time travelling from one country to another forgetting his Nation is on fire.

The way Nigeria is going, it is better one travel out and start a new life, cause its a pity how first class citizens are treated like visitors in our nation.

The truth is this... the government is largely distracted.. Some can not simply kill two birds with just a single stone.. PMB's attention is multi-directional and at such, he lacks directions... They should concentrate and find a good solution to the economy, I think that is the most important thing at the moment.... he has years to fight corruption and that can be done on a low-key too... The real direction where the progress lies in the country still left more to be desired..


And for that lady, well I pray the dollar gets higher as she had wished.... I believe too well, she will return to this same place to cry of hunger..

modath:


This country can never be great until the problem in red is solved, no true great /prosperous nation relies solely on importation of virtually every commodity....

We can't be putting our heads in the sand pretending like we don't know the cause of the problem... oil price has tanked, the reserves ( to defend the naira) almost at critical level, but we insist things should remain the same..we can't continue to be merry in austere times, something just gotta give, no two ways out..

It's simple economics and logic, demand and supply are at variance, pricing will definitely reflect it.. chikena.

i don't understand why people keep saying this importation trash!.yes we might believe that over dependence on importation is not good for an economy.but in this case importation has little or nothing to what is going on in this country now.
this government sent out a very wrong signal and the whole world embraced that signal.that is why we are here today.
please note that there is no country that does not import one commodity or the other.
i always tell people that business management on textbook and classroom is very different from business management in real life/street.it takes one with vast experience to bring the two together and manage it successfully.

abokibuhari:

but you never said this during GEJ era, the man tried you know.

it is because majority of ur kind have the highest number in population that's why we are where we are common sense is not after all common it's very scarce and only few of us have it

in GEJ time there was oil boom inshort there have always been oil boom it's from this record sales that Nigeria is able to supply excess dollars into the domestic market so much the price can be maintain but since last year there is oil recession foreign companies are no longer buying Nigeria oil cos it's even more cheaper in some other countries. have u seen Indonesia ? they are lining up to buy everything cos of there over dependent on oil, now that the oil excess money is gone Nigeria can no longer sustain the steady supply of that dollars which is the reason why Govt decided to remove her hand and everyone to look for dollars anywhere they can get it what it means is there is high demand because we are over reliant on everything imported and short supply of USD because we practically export nothing other than the oil If u had stay in class during your economics session in ss1 u would have understand what is happening under the law of demand and supply rather than say it was not like that under GEJ times

osarenmwienda:
is this real life ?

when will this end?


infact Nigeria don tire me
gabadaya I don tire

ove oba ko yo

modath:


Una don start bah? abeg it's too early!!

Jonathan's regime, how much was oil? How much did he have in the reserves.

When Buhari landed Nigeria into recession for the very first time in the 80s was it Jonathan that caused the it? He is a certified illiterate.

beejaay:
that's a big fat lie....saudi Arabia import everything....u can lie for Africa....the worst crash in crude oil was in 2008 and we never experienced this......so stop lying and say the truth, it won't hurt you

where are you from ?
zombie island I guess

have u Google how much Saudi Arabia has in cash reserve ? they save well during the boom and 2015 is the worst crash in crude oil price not 2008

modath:


Una don start bah? abeg it's too early!!

Jonathan's regime, how much was oil? How much did he have in the reserves.

This has little to do with oil, I met a non Nigerian hedged fund guy last month who gave me the whole gist, he said a lot but the ace I could take from all he said is that Nigeria lost over $70 billion in foreign investment,30% of that was during election, after elections investors thought Buhari will come with a clear and straight forward economic policies instead he waited for months before appointing ministers investors don't don't like suspense, that alone made most of them scream "screw Nigeria" !and they sold their assets and put their money in $ . Now we are here.

He did not say this one o, but to me I think the worse of it all is during the time Buhari was using his body language to mess things up, majority of Nigerians were cheering him on, until hunger started .

erico2k2:

Guy why calling her a FOOl when you failed to reason out of the BOX? people coming into the country with teh greenbacks do not need to change the naira back to dollars when they leave? they buy stuff with it ie lands? cars? solves the problems of thier immediate families and go back empty handed to look for more dollars to do the same thing all over again
So as you can see you put 4ward the wrong argument, if your argument was about the buying power of teh green back after been xchanged to Naira on Nigerian soil then your argument would have been plausible.She can tie her Money to landed properties and buy cheap properties.From last I checked, the cost have Land has never depreciated.

Anybody who doesn't wish for the better of Nigeria is a fool indeed, tell me, you like hearing news about people losing their jobs right? or prices of food stuff increases right? or do you live in another planet?

praying for the Naira to keep falling is a demonic prayer and selfish one for that matter that's why she a fool.

mind you, the lands and properties you say also increase in terms of cost so it still makes no sense

In America, you cannot spend Naira but dollar so she still has to change it in fact even more than the amount she bought the naira. so it still makes no sense.

Deeman1:


See you guys don start again, when obasanjo came into power in 1999 he price of oil was $16 per barrel of crude, and he met foreign reserve at $9 billion. He left foreign reserve at almost $30 billion and GEJ maintained that reverse till he left power. So this excuse of this government claiming price of oil my foot. Price of oil now is $49.45 a barrel

another dullard

quickly grab your phone since u have free data and head to Google then come back here to tell us the price of crude oil from 1999-2007 2007 -2015 and 2015-2016

so u mention the price during Obasanjo time mention it during the current govt time and u left aren't you forgetting something
during GEJ time what was the price ??

femarse:


it is because majority of ur kind have the highest number in population that's why we are where we are common sense is not after all common it's very scarce and only few of us have it

in GEJ time there was oil boom inshort there have always been oil boom it's from this record sales that Nigeria is able to supply excess dollars into the domestic market so much the price can be maintain but since last year there is oil recession foreign companies are no longer buying Nigeria oil cos it's even more cheaper in some other countries. have u seen Indonesia ? they are lining up to buy everything cos of there over dependent on oil, now that the oil excess money is gone Nigeria can no longer sustain the steady supply of that dollars which is the reason why Govt decided to remove her hand and everyone to look for dollars anywhere they can get it what it means is there is high demand because we are over reliant on everything imported and short supply of USD because we practically export nothing other than the oil If u had stay in class during your economics session in ss1 u would have understand what is happening under the law of demand and supply rather than say it was not like that under GEJ times

what about countries without OIl?

femarse:


another dullard

quickly grab your phone since u have free data and head to Google then come back here to tell us the price of crude oil from 1999-2007 2007 -2015 and 2015-2016

so u mention the price during Obasanjo time mention it during the current govt time and u left aren't you forgetting something
during GEJ time what was the price ??

but this was the time we gained headway, so waht happened 2 weeks after that? cos from last I checked it tool less than 4 months from that era to this era

The naira will improve relative to the dollar if we can do the following: parallel market operators are integrated into the mainstream such that their transactions are documented and tracked. This will help to curb those with huge stolen naira from spiking the rate anyhow. Also, all invoices for importation of goods, including petroleum products, must be scrutinized properly to curb capital flight which I suspect is happening now. Further, serious cultural and music carnivals such as Ojude Oba festival in ijebuland, Ogun State, must be organized monthly till next year Easter with massive publicity to attract massive tourists. This will bring in forex while creating quick jobs for local artisans. Our foreign embassies can help in selling this idea overseas. Moreover, an AMCON specially for the aviation industry must be created to take over the debts of airlines which will be repaid later gradually on the condition that some of them merge to reduce operational cost. A vibrant aviation sector is needed immediately to bring in foreign tourists and investors. Also, different diaspora associations must be engaged to organize Nigerians abroad to increase remittances home in addition to subscribing to diaspora bonds for investment purposes such as government's 40% equity holding in discos, and gencos and other critical national assets. Finally, massive campaign is needed to stem our taste for foreign goods and food items, including holidays abroad and adverts on international media!

is #216 enough in exchange for a dollar?

erico2k2:

what about countries without OIl?

they are very well diverse in other areas they have been coping with the oil ish long before now it's not a problem to them they have other things they do, only oil producing countries are concern about oil and only African countries are the oil producing countries that are also poor with little exception to Indonesia and co

Ezechinwa:


Anybody who doesn't wish for the better of Nigeria is a fool indeed, tell me, you like hearing news about people losing their jobs right? or prices of food stuff increases right? or do you live in another planet?

praying for the Naira to keep falling is a demonic prayer and selfish one for that matter that's why she a fool.

mind you, the lands and properties you say also increase in terms of cost so it still makes no sense

In America, you cannot spend Naira but dollar so she still has to change it in fact even more than the amount she bought the naira. so it still makes no sense.

I will pardon ur Ignorance to a limit,
In every bad situation there are those benefiting, Read up how the Rotchilds came to be the bankers of the world after the world war
I can see you are still young but that's not an xcuse for lack of knowledge
the so called BDC and Banks are praying and fasting for the Dollars to increase you are here dreaming
Land appreciate with development around it, something that is scarce these days.

Now since you are still going on about spending Naira and Dollars
check this
I come from America with $2000 land 9ja change it to naira all of it, now i want to go back to the USA, why would I change my balance naira to $?? TELL ME WHY

just negodu

erico2k2:

but this was the time we gained headway, so waht happened 2 weeks after that? cos from last I checked it tool less than 4 months from that era to this era

from 2007 to 2014 oil price varies from $90 -$110 PB and with much more production and huge sales Nigeria is able to build a structure that is over reliant on importation huge and peaceful production comes from the annesty granted to the niger Delta youth kidnap and bombing of oil workers and oil facilities reduce significantly during Jonathan period I want you to know that each of those miscreants youth were been paid #150k per month doing nothing just because the oil is from their land tell me how many one of them have u seen today who u can point to and say the annesty is truly a successful program many of those youth are now gainfully involve in non oil economic activities as a result of that heft payment on a monthly basis even few bsc holder earn that in a month instead the moment the payment stop during pmb time they go back to carry gun and bomb does that means we should forever be paying them is that a wise decision ? which driving nation is paying miscreant just to produce in peace
while gej has good years with him to create this economic that relies on importation you don't expect the transition to exportation to take 4 month do you?? so get it straight if we are to get off this current woes the right policy is to make foreign consumer goods more expensive than locally made goods
that type of plan don't happen in a year or two and citizen will suffer during this transition but when you want to pass exam you don't go around playing ball every where and expect to pass u sit down and sacrifice your playfulness for reading so u can pass this is the time to suffer for tomorrow even if it never turn out well now let it turn out for tomorrow generation look at it yourself if gej actually did well everyone will not desert him almost every major PDP member run to APC towards the election because PDP was failing it was obvious they are sending us to our grave okonjo will be telling us stupid grammar by now that's what she is know for ,see billions in dollars everywhere in private pocket (dansuki etc ) that was consummated during jonathan times , how do u recover from such a looted economy like that in two years ? even in four years ? how ? especially when the main cash cow is now drain so much disease this is something that will not disappear tomorrow we all have to endure it till it last anybody telling you anything else is saying trash let them get there and they will tell u how buhari has spoil the economy they too will not do anything that is why we must follow this govt so that there can be consistency in the policy there is no bad policy it's lack of consistency that kills them

Ndolarr:
The naira will improve relative to the dollar if we can do the following: parallel market operators are integrated into the mainstream such that their transactions are documented and tracked. This will help to curb those with huge stolen naira from spiking the rate anyhow. Also, all invoices for importation of goods, including petroleum products, must be scrutinized properly to curb capital flight which I suspect is happening now. Further, serious cultural and music carnivals such as Ojude Oba festival in ijebuland, Ogun State, must be organized monthly till next year Easter with massive publicity to attract massive tourists. This will bring in forex while creating quick jobs for local artisans. Our foreign embassies can help in selling this idea overseas. Moreover, an AMCON specially for the aviation industry must be created to take over the debts of airlines which will be repaid later gradually on the condition that some of them merge to reduce operational cost. A vibrant aviation sector is needed immediately to bring in foreign tourists and investors. Also, different diaspora associations must be engaged to organize Nigerians abroad to increase remittances home in addition to subscribing to diaspora bonds for investment purposes such as government's 40% equity holding in discos, and gencos and other critical national assets. Finally, massive campaign is needed to stem our taste for foreign goods and food items, including holidays abroad and adverts on international media!

All waht you said are well and good on paper, but in practical tuff, 9ja is a hard one to crack
Do you know what the BDC guys have done ? they now have Agents in London,all I have to do is pay £££ to thier agents in London ,pay the service charge and they BDC in turn pay Naira equivalent to my bank in Nigeria.so when i am coming to 9ja I have no need to bring £,its already in my bank in local currency.So you see why remittance would not help in that sense.sense. What the FG needs to do is follow the Chinese footstep, reduce taxes in Export or do away of %70 of it, but ofcos customs Boss will not agree.What u said is step in the right direction but people who are working under these establishments meant to power the economy are wicked and greedy and would not let this be.

femarse:


from 2007 to 2014 oil price varies from $90 -$110 PB and with much more production and huge sales Nigeria is able to build a structure that is over reliant on importation huge and peaceful production comes from the annesty granted to the niger Delta youth kidnap and bombing of oil workers and oil facilities reduce significantly during Jonathan period I want you to know that each of those miscreants youth were been paid #150k per month doing nothing just because the oil is from their land tell me how many one of them have u seen today who u can point to and say the annesty is truly a successful program many of those youth are now gainfully involve in non oil economic activities as a result of that heft payment on a monthly basis even few bsc holder earn that in a month instead the moment the payment stop during pmb time they go back to carry gun and bomb does that means we should forever be paying them is that a wise decision ? which driving nation is paying miscreant just to produce in peace
while gej has good years with him to create this economic that relies on importation you don't expect the transition to exportation to take 4 month do you?? so get it straight if we are to get off this current woes the right policy is to make foreign consumer goods more expensive than locally made goods
that type of plan don't happen in a year or two and citizen will suffer during this transition but when you want to pass exam you don't go around playing ball every where and expect to pass u sit down and sacrifice your playfulness for reading so u can pass this is the time to suffer for tomorrow even if it never turn out well now let it turn out for tomorrow generation look at it yourself if gej actually did well everyone will not desert him almost every major PDP member run to APC towards the election because PDP was failing it was obvious they are sending us to our grave okonjo will be telling us stupid grammar by now that's what she is know for ,see billions in dollars everywhere in private pocket (dansuki etc ) that was consummated during jonathan times , how do u recover from such a looted economy like that in two years ? even in four years ? how ? especially when the main cash cow is now drain so much disease this is something that will not disappear tomorrow we all have to endure it till it last anybody telling you anything else is saying trash let them get there and they will tell u how buhari has spoil the economy they too will not do anything that is why we must follow this govt so that there can be consistency in the policy there is no bad policy it's lack of consistency that kills them

Everything you said made sense untill your last few sentence, you seriously think the problem we now have is the looting of the past govt but not the current state of our economy due to non performance? was this not same ideology sold to us by the FG?
corruption can never be eradicated as far as there is politics, the live side by side but can be managed how you do that depends on the policies and those employed to pass them.Have you checked howmuch a senator earn? compared to that of the ones from the US??corruption is within those that are meant to fight it so its a lose battle in that regards.what we want is for teh FG to make life bearable for the man on the street.Global demand and supply affects our ability to get FX agreed but how does this affect our FG creating an easy ground for investors to thrive?

goldedprince:

Lol i can always show love haha tell me how. Too bad no pm or dm on nairaland

Here is my skype I. D. :dayrin57 .. looking forward to hear from you bro

erico2k2:

I will pardon ur Ignorance to a limit,
In every bad situation there are those benefiting, Read up how the Rotchilds came to be the bankers of the world after the world war
I can see you are still young but that's not an xcuse for lack of knowledge
the so called BDC and Banks are praying and fasting for the Dollars to increase you are here dreaming
Land appreciate with development around it, something that is scarce these days.

Now since you are still going on about spending Naira and Dollars
check this
I come from America with $2000 land 9ja change it to naira all of it, now i want to go back to the USA, why would I change my balance naira to $?? TELL ME WHY

am sure your not up to 18, but from your last paragraph it seems you've never left the shores of this Country, when you are in a country you have to spend that country's currency.
if you invest $10000 in Nigeria, at the rate of #1000 per dollar, when you wish to take your profit back to America , aren't you going to change back the currency?

its either you lack the knowledge to comprehend words or you lack sense.
Yes, people will make profits from this current situation, but do your mediocre and selfish brain tell you that America would wish to be in our shoes right now in terms of the Exchange rate?

The problem with Nigeria is that we have a lot of greedy and selfish people who look and care after their own personal interest. Do you think America would like the exchange rate to be like 410$ to 1naira?

Ezechinwa:


am sure your not up to 18, but from your last paragraph it seems you've never left the shores of this Country, when you are in a country you have to spend that country's currency.
if you invest $10000 in Nigeria, at the rate of #1000 per dollar, when you wish to take your profit back to America , aren't you going to change back the currency?

its either you lack the knowledge to comprehend words or you lack sense.
Yes, people will make profits from this current situation, but do your mediocre and selfish brain tell you that America would wish to be in our shoes right now in terms of the Exchange rate?

The problem with Nigeria is that we have a lot of greedy and selfish people who look and care after their own personal interest. Do you think America would like the exchange rate to be like 410$ to 1naira?

ok to your first line, I way more than 18
mayB you can take a look at my previous post and gain some sense
I have been spending forex B4 you turned 18 but thats an argument 4 another day.
About leaving the shores of Nigeria, have you? cos if you did you will not type that traash you did up there
drop that fone U are using and brows from a laptop so you can get the full picture
This was the picture I am trying to steer you to
I land at PHC from Europe with £10000 in my pocket why do I have to return back toe Europe with any change, i will spend it all go back empty.Unless you are referring to those who do not work
I do not get where you grab this notion that there must be profit for the monies I bring with me from abroad.

NB, you calling my all sort of name up there, are you not thesame person planning to go to canada and was posted to Adamawa for 2016 NYSC? 2016
young Man listen, I have been living in the UK more than 16 years unlike you who never earned a$ in your life.