Love Machine: OK let's compare the living standards of those countries in recession with ours.Their government don't retrench workers.They don't increase fuel price.There is no hardships among their people like Nigerians .
u dont really know anything, common benin, niger, cameroon and Ghana that are not in reccession has higher fuel price than us. and moreover, does those countries import everything? even toothpick?. countries that even export more than us are in reccession.
Maybe coincidence have made buhari in charge of the government each time Nigeria goes into recession, and maybe also coincidentally he has not been able to take Nigeria out of recession in both cases
I really don't understand why most people don't know that a man who earned 150k monthly last year and suddenly started earning 40k this year that his lifestyle must change. Soludo and Iweala already predicted before the elections last year that irrespective of who wins, Nigerians must prepare for austerity. In 2008/9, the World suffered a recession but Nigeria escaped it because we had enough reserve to fall on to support the naira and continue our normal cheap importations but presently the dollar supply is low so what do you expect? Go blame the clueless GEJ who couldn't save and used up what was saved by his predecessors and even left us with huge debts. If we are to continue saving the naira to continue having cheap imports, the less than $30 billion GEJ left would've been used up by now and Nigeria should now be begging cap in hand from the IMF and world bank just like Greece did by now.
Ahmedhussain3463: dt trouble will last for u till 2023 only if buhari decide nt to recontes or Allah dnt wnt him to remain
your anger means nothing for me cause my life have been guaranteed, buhari 's hundred years in office will never affect my feeding, health, housing and even my generation unborn, am only sorry for zombies like you who smiles while suffering.God pass zombies that is why, after rigging out a PhD and installed an illiterate, the stone is coming on buhari soon and the funny thing is that it will start from katsina.
For every zombie that converts from being a Buharideen, there is cause to thank God.
I DON dey fear nigerians since that old man started messing up,the zombies were just hailing them in whatever they were doing,if it doesn't work out this same people will change their tune and sing another reggae blues......
Jesusloveyou: u dont really know anything, common benin, niger, cameroon and Ghana that are not in reccession has higher fuel price than us. and moreover, does those countries import everything? even toothpick?. countries that even export more than us are in reccession.
chernest2002: your anger means nothing for me cause my life have been guaranteed, buhari 's hundred years in office will never affect my feeding, health, housing and even my generation unborn, am only sorry for zombies like you who smiles while suffering.God pass zombies that is why, after rigging out a PhD and installed an illiterate, the stone is coming on buhari soon and the funny thing is that it will start from katsina.
same too bro, buhari 100yr will nt stop or narrow my advancement in all sphere of life and dt is y am nt complaining like u|bt am just angry you attacking me af if we courting a single lady bro,no need for d insult oga
Ahmedhussain3463: lol,check out venezuela country dt also depend on oil,arab country dt are nt complaining av robust reserve|hw much ur broda and ur sister ngozi save wen oil was selling for $145 pb b4 dey left govt?
What are you saying here man? Mumbled words with no paragraph or punctuation marks.
Borrow wetin this man who ran bankpHb aground,this same man run down volkswagen,yardua died long ago bank phb disappear 3yrs later,sanusi may allah bless u d saving my deposit.
you keep bringing this up... Venezuela is in a dire situation but what are the people doing? putting the blame on the fall in oil price? No! They are on the street calling for the head of the president. We've always had a problem with leadership because the followers are lenient on them
Bizibi: I DON dey fear nigerians since that old man started messing up,the zombies were just hailing them in whatever they were doing,if it doesn't work out this same people will change their tune and sing another reggae blues......
First thing we should know the decline in oil prices is not commensurate to the level of drop our economy has witnessed. . Have you asked yourself that that despite low oil prices and virtually no democratic structure on ground plus no foreign reserve and a heavy debt profile how Obasanjo managed to steer the country to some growth ..Mr I will highlight some poor decisions made by a visionless Buhari (I also voted for him oo) that virtually nuked the Nigerian economy.
Before President Buhari was sworn in Oil prices had spiralled down plus he was taking over from an exceptionally corrupt govt led by the meek GEJ. A wise leader taking over such affairs will not do some things ..below are things Buhari shouldn't have done ..
1: He shouldn't have spent more than six months choosing his ministers and team ..Knowing that we were in an era of low oil revenues Buhari should have hit the ground running in a manner that will inspire confidence in the NIGERIAN economy but he didn't rather he left the country without a policy framework or directionfor 6 months .
2: The ridiculous MTN fine : 6 months after his inauguration Buhari suddenly realises he has low revenue from oil and take advantage of the simplest registration penalty to slap MTN the largest fine ever heard in human history , a ridiculous fine of 5 billion dollars ..that immediately set most multinationals who had been operating under lax Nigerian laws to find parallel means of expatriating over 80 billion dollars out of the country in under 3 weeks just in case the govt of the new sheriff decided to clamp down on their profits still housed in Nigeria..Ironically the president couldn't even get MTN to pay the 5 billion dollar as it was reviewed to some really paltry some to be paid small small over time but the damage was already done .
3: For years most people knew our Banks relied on govt patronage for a large percentage of its deposits..Mr Buhari in his visonles manner goes on to pull the rug over night by implementing TSA a 100 percent instead of the piece meal fashion recommended by those who even created the TSA in the first place, the banking industry was suddenly hit with a massive withdrawal symptom that also cascaded into the real private sector including small businesses .
4: When oil prices are low oil producing country usually ramp up production to try to use volume to counter losses realised form low oil margins and that why Saudi Arabia this year increased production levels to a record high ..In Nigeria what did Buhari do? Buhari chose such are time to declare Tompolo wanted for a supposed fraud of 13 billion naira thereby throwing the region into chaos as militants took to the offensive to avoid arrest. .this action further cut down our production by another half meaning despite low oil price Mr Buhari now had to deal with low output and production.
5: Recently as production started to pick up the Army announced it was deploying 10 thousand soldiers to the region ..I don't have a problem with that but why announce it ..By announcing it tension is again heightened in the region. .Abacha deployed more troops to the Niger delta but never announced it sef .
Bro I can go on and on ..the truth is that Buhari can never make a great leader and will never .he doesn't have that vision and prefers knee jerk action to well thought out solutions
Bro, how many suitcases of 100 dollar bills do you want?
Raziii: you keep bringing this up... Venezuela is in a dire situation but what are the people doing? putting the blame on the fall in oil price? No! They are on the street calling for the head of the president. We've always had a problem with leadership because the followers are lenient on them
Isolate bad leadership, the reason for the crisis was clearly stated by experts.
Venezuela, an OPEC nation, relies heavily on oil for export earnings, and plummeting world prices have helped push its state-led economy into a deep recession.
"Since Venezuela is about 96 per cent dependent on oil, we're only receiving about a third of the hard currency we were receiving as recently as a couple of years ago," Phil Gunson, senior analyst with International Crisis Group, told The Current.
Jesusloveyou: u dont really know anything, common benin, niger, cameroon and Ghana that are not in reccession has higher fuel price than us. and moreover, does those countries import everything? even toothpick?. countries that even export more than us are in reccession.
This is your only point that is agreeable, others are debatable. I'll speak on the TSA. The banks were getting free money from the government and loaning back to the same government at 15% interest rates, they were also lent to the real sector at 20% and above interest rate which is terrible. The government was loosing money by this arrangement and also the free money was not used by the banks to help fund SME's. I wholly support this move by the government. Once forex racketeering is dealt with, the banks will have no other option than to go back to core banking.
Those who were clamoring for change are now hiding their faces in shame. Blessed are those whose lives are transforming because they supported Goodluck's transformation agenda.
Demdem, Here u go again, did I just hear u say he Prof Pat was among the people dat destoryed Bank Phb? My friend pls do your research very well, Prof Pat is an intelligent economist with lots of wealth of experience, it was as a result of the merger of banks. demdem, u seems to always find fault in people that speaks the truth about the govt in power.
Dem force am 2 merge?Y culdnt an "intelligent economy"grow his bank capital base alone like jim ovie a non-economist, & 1st bank,he shld hav used his "wealth of experience" 2 pull a hat trick,all coorporations he manage went bankrupt do ya research.
Check the chart above and you will know that all this politicians are just trying to take advantage of the unfortunate period to score Cheap Points and escape prosecution for looting.
I will analyze TOP 13 oil producing countries and evidence of recession in 2016 some have been struggling since 2015.
Please check links, extracts and the bolded.
1. RUSSIA in recession
2. VENEZUEALA in recession Oil Producing (No 12) Crisis terrible and leading to Food shortage.
3. CANADA in recession
4. CHINA in recession
5. SAUDI ARABIA in recession
6. Kuwait
If you are expecting any Miracle if PDP or Jonathan were to be returned during the 2015 election, You are either a party agent, a tribalist, an ignoramus or a dullard.
The combination of the last 3 is usually the case.
WE NEED TO WAKE UP , IT IS REALITY O CLOCK !!.
The policies that allowed Nigeria depend on ALL IMPORTATION killed Nigeria not Buhari.
You be real Antiwailer. Kudos and more Megabytes to your data. May your wisdom continue to grow and never shrink.
InvertedHammer: Nigerians knew that the country was heading to abyss and that's why the voted out GEJ.
But when Buhari came in, he appeared confused and ill-prepared for the task ahead. The first disappointment was the calibre of his ministers. Then there was the air of uncertainty. Worst of all, he followed the exact footstep of GEJ whereby impromptu policies are put forth, followed by denial and the reversal. Lack of concise policies marinated in uncertainties enveloped in phantom war on corruption did his government in.
GEJ was clueless. Buhari is clueless. The fault lies on Nigerians who keep voting in bad managers for the country. Does it make sense that in a country of 180m, their only options were GEJ and Buhari? Guess what? In 2019, the same cycle will be repeated. Thr same folks whining will collect a bag of rice, sell their votes and come back to whine for the next 4 years. Like people from IBB's era, they will live on hope only to find out that they are now above 40 years and nothing has changed. \
Gbam.
I didn't want to comment and was just reading through but this got me as an an accurate depiction of the true condition of Nigeria.
People like @Goke and the gang are still living in delusion thinking PMB has anything to offer. You cant givecwhat you dont have. Its pretty basic
PMB and GEJ are probably more confused than the average Nigerian
GEJ = grand patron of cluelessness
PMB = Confused and clueless
It is hightime we abandon our tribalism and realize our future and those of our kids are at stake here.
PMB, OBJ et al.. these men are not part of our future, They have lived the better part of their lives and they dont give a f..k about the future of the country.
Their kids are being strategically positioned to take over from where they stop and we are here making excuses for their stupidity.
I realized on time that this circle will continue that was why left the Country.
Lets tell ourself the truth, the problem with Nigeria is more than the low price of crude.
Its bad leadership and terible followership. We worship our leaders be it pilitical or Religious.
We dont hold our leaders accountable. @Goke and the gang is still talking about PDP.
PDP is made up of individual and a lot of them are still in this present government.
It is not the party but individuals that mismanaged the country. A lot of them are still in APC. One of them is the Senate President.
Please, let us learn to ask our leaders questions and hold them accountable. Be it , Local Govt chairmen, Governors, Senators and Reps, Pastor( yes, because funds that could have gone for investment and increase GDP is being funnelled to maintain expensive lifestyles)
Let us not be overwelmed by the charisma of these men afterall, they are enjoying our mandate.
Our GO's pray for these corrupt leaders and no member is asking them questions. Do we ask them why the need for Private jet and the cost of the maintanance.
Lots of things wrong with the country mennn.
I am not a Wailer or a Zombie neither am i a Sycophant. I only want a better Nigeria.
First thing we should know the decline in oil prices is not commensurate to the level of drop our economy has witnessed. . Have you asked yourself that that despite low oil prices and virtually no democratic structure on ground plus no foreign reserve and a heavy debt profile how Obasanjo managed to steer the country to some growth ..Mr I will highlight some poor decisions made by a visionless Buhari (I also voted for him oo) that virtually nuked the Nigerian economy.
Before President Buhari was sworn in Oil prices had spiralled down plus he was taking over from an exceptionally corrupt govt led by the meek GEJ. A wise leader taking over such affairs will not do some things ..below are things Buhari shouldn't have done ..
1: He shouldn't have spent more than six months choosing his ministers and team ..Knowing that we were in an era of low oil revenues Buhari should have hit the ground running in a manner that will inspire confidence in the NIGERIAN economy but he didn't rather he left the country without a policy framework or directionfor 6 months .
2: The ridiculous MTN fine : 6 months after his inauguration Buhari suddenly realises he has low revenue from oil and take advantage of the simplest registration penalty to slap MTN the largest fine ever heard in human history , a ridiculous fine of 5 billion dollars ..that immediately set most multinationals who had been operating under lax Nigerian laws to find parallel means of expatriating over 80 billion dollars out of the country in under 3 weeks just in case the govt of the new sheriff decided to clamp down on their profits still housed in Nigeria..Ironically the president couldn't even get MTN to pay the 5 billion dollar as it was reviewed to some really paltry some to be paid small small over time but the damage was already done .
3: For years most people knew our Banks relied on govt patronage for a large percentage of its deposits..Mr Buhari in his visonles manner goes on to pull the rug over night by implementing TSA a 100 percent instead of the piece meal fashion recommended by those who even created the TSA in the first place, the banking industry was suddenly hit with a massive withdrawal symptom that also cascaded into the real private sector including small businesses .
4: When oil prices are low oil producing country usually ramp up production to try to use volume to counter losses realised form low oil margins and that why Saudi Arabia this year increased production levels to a record high ..In Nigeria what did Buhari do? Buhari chose such are time to declare Tompolo wanted for a supposed fraud of 13 billion naira thereby throwing the region into chaos as militants took to the offensive to avoid arrest. .this action further cut down our production by another half meaning despite low oil price Mr Buhari now had to deal with low output and production.
5: Recently as production started to pick up the Army announced it was deploying 10 thousand soldiers to the region ..I don't have a problem with that but why announce it ..By announcing it tension is again heightened in the region. .Abacha deployed more troops to the Niger delta but never announced it sef .
Bro I can go on and on ..the truth is that Buhari can never make a great leader and will never .he doesn't have that vision and prefers knee jerk action to well thought out solutions
OBJ did not steer us out of any economic crisis. Crude Oil prices went up. Simple. The wars in Iraq and Afghanistan, plus sanctions on Iran increased Crude Price. Not OBJ's economic policy.
AntiWailer: Yes by not consulting Pat Utomi who led BANK PHB and another company into liquidation.
We also assumed Ben Bruce was intelligent before AMCON asked for the loan he collected. With that amount of loan, I will employ more Nigerians and still service my loan. (As long as i don't buy home in the US from the loan as shown by Sahara Reporters)
That Said, So it won't look like I am concentrating on the messenger and not the message,
Nigeria EXPORTS OIL and imports everything including RICE and Soldier's Khaki.
On the recession.
Check out several countries in recession. Buhari's Policy must have affected them too.
NOTE: Most of the top 12 Oil Producing companies in order of their oil production output are in RECESSION.
NIGERIA IS 13
1 United States 11,973,000 2 Saudi Arabia (OPEC) 11,624,000 3 Russia 10,853,000 4 China, People's Republic of 4,572,000 5 Canada 4,383,000 6 United Arab Emirates (OPEC) 3,471,000 7 Iran (OPEC) 3,375,000 8 Iraq (OPEC) 3,371,000 9 Brazil 2,950,000 10 Mexico 2,812,000 11 Kuwait (OPEC) 2,767,000 12 Venezuela (OPEC) 2,689,000 13 Nigeria (OPEC) 2,427,000
Check the chart above and you will know that all this politicians are just trying to take advantage of the unfortunate period to score Cheap Points and escape prosecution for looting.
I will analyze TOP 13 oil producing countries and evidence of recession in 2016 some have been struggling since 2015.
Please check links, extracts and the bolded.
1. RUSSIA in recession
2. VENEZUEALA in recession Oil Producing (No 12) Crisis terrible and leading to Food shortage.
3. CANADA in recession
4. CHINA in recession
5. SAUDI ARABIA in recession
6. Kuwait
7. Iran - Facing worst recession in 30- 40 years. Imagine recession worst than even when they were heavily sanctioned by USA.
8. BRAZIL in recession - Check The reason bolded below. Does that not sound familiar to what Killed Nigeria ? Price of commodity responsible for their growth (Oil) crashed and CORRUPTION in state-run oil company.
If you are expecting any Miracle if PDP or Jonathan were to be returned during the 2015 election, You are either a party agent, a tribalist, an ignoramus or a dullard.
The combination of the last 3 is usually the case.
WE NEED TO WAKE UP , IT IS REALITY O CLOCK !!.
Go back to farm and stop dependence on Oil.
The policies that allowed Nigeria depend on ALL IMPORTATION killed Nigeria not Buhari.
OBJ did not steer us out of any economic crisis. Crude Oil prices went up. Simple. The wars in Iraq and Afghanistan, plus sanctions on Iran increased Crude Price. Not OBJ's economic policy.
Please you need to get the perspective really right. ..I never said that OBJ led us into an economic boom ..I said despite starting our democracy from ground zero with most of the legislators being first timers and virtually no democratic structure on ground we did not hear of the word recession then even though there was a heavy debt burden on our shoulders , what I am saying is that OBJ met Nigeria in a worse state that Buhari did both economically , divisely and democratically but he steered it in such a manner a lot of Nigerians did not notice any slowdown ...Besides OBJ became president 2 and half good years before the 2nd gulf war sef ..
It was even worse for Abacha, he was unpopular from day one and was hit by sanctions internationally but he kept a steady growth of 4 percent and not once did the naira slide during his inglorious tenure...please nobody can defend Buhari it's glaring the man is not fit for the job period
AntiWailer: Yes by not consulting Pat Utomi who led BANK PHB and another company into liquidation.
We also assumed Ben Bruce was intelligent before AMCON asked for the loan he collected. With that amount of loan, I will employ more Nigerians and still service my loan. (As long as i don't buy home in the US from the loan as shown by Sahara Reporters)
That Said, So it won't look like I am concentrating on the messenger and not the message,
Nigeria EXPORTS OIL and imports everything including RICE and Soldier's Khaki.
On the recession.
Check out several countries in recession. Buhari's Policy must have affected them too.
NOTE: Most of the top 12 Oil Producing companies in order of their oil production output are in RECESSION.
NIGERIA IS 13
1 United States 11,973,000 2 Saudi Arabia (OPEC) 11,624,000 3 Russia 10,853,000 4 China, People's Republic of 4,572,000 5 Canada 4,383,000 6 United Arab Emirates (OPEC) 3,471,000 7 Iran (OPEC) 3,375,000 8 Iraq (OPEC) 3,371,000 9 Brazil 2,950,000 10 Mexico 2,812,000 11 Kuwait (OPEC) 2,767,000 12 Venezuela (OPEC) 2,689,000 13 Nigeria (OPEC) 2,427,000
Check the chart above and you will know that all this politicians are just trying to take advantage of the unfortunate period to score Cheap Points and escape prosecution for looting.
I will analyze TOP 13 oil producing countries and evidence of recession in 2016 some have been struggling since 2015.
Please check links, extracts and the bolded.
1. RUSSIA in recession
2. VENEZUEALA in recession Oil Producing (No 12) Crisis terrible and leading to Food shortage.
3. CANADA in recession
4. CHINA in recession
5. SAUDI ARABIA in recession
6. Kuwait
7. Iran - Facing worst recession in 30- 40 years. Imagine recession worst than even when they were heavily sanctioned by USA.
8. BRAZIL in recession - Check The reason bolded below. Does that not sound familiar to what Killed Nigeria ? Price of commodity responsible for their growth (Oil) crashed and CORRUPTION in state-run oil company.
If you are expecting any Miracle if PDP or Jonathan were to be returned during the 2015 election, You are either a party agent, a tribalist, an ignoramus or a dullard.
The combination of the last 3 is usually the case.
WE NEED TO WAKE UP , IT IS REALITY O CLOCK !!.
Go back to farm and stop dependence on Oil.
The policies that allowed Nigeria depend on ALL IMPORTATION killed Nigeria not Buhari.
A liar is know when he starts to tell lengthy tales or epistles in order to tell a lie.You forgotten the dullard you're defending here ordered for oil exploration in the Lake Chad/Benue Basins even spending billions of dollars to do that? Now the oil is useless in the international market but it's not cheap in Nigeria.So what revenue does he want to generate with these wasteful adventures?One thought he wants to diversify the economy? By further exploring for oil? So you see that defending Buhari ends up exposing your own worst stupidity?
