Drversatile:

God bless you, I tell people but they don't believe

jospepper:
when a barrel of crude was $20 dollars, the exchange rate was 80 naira to a dollar. Dollars are scarse because foreign investors have pulled out about $80b from the economy due to the lack of a proper economic direction by this administration. The cluelessness of this administration is legendary, it took six months to assemble a cabinet and an economic team, within that period investors pulled out their investment s because of the uncertainties that still persist till now.

kayLion:


Sir, are you saying there is no looting going on under PMB?!

Zi:

Create your own brand. It doesn't have to be a competition between you and the existing brand. The stage is wide, it can take everyone, provided you are creative.

swimmer:



The avengers have stopped for almost a year and oil sells fir over 50$ per barrel. Be informed

TheGoodJoe:
Na wa.

Dollars was available during GEJ's time because of massive inflow of dollars. It means dollars was not scarce due to high prices of Crude Oil and sales in large quantities.

Today, due to the drop in demand of Crude Oil internationally, low Crude Price and disturbances in the Niger Delta, there is less dollars in the system. There is low sales with low Crude Oil Prices. This makes dollars scarce and the high exchange rate.

So it is not a case of massive looting or massive savings.

Drversatile:

God bless you, I tell people but they don't believe

okosodko:
There was no looting under jonathan, it was just propaganda. The looting going on now is epic coupled with tribalism and injustice. Any currency will melt under these conditions

okosodo:
There was no looting under jonathan, it was just propaganda. The looting going on now is epic coupled with tribalism and injustice. Any currency will melt under these conditions

martineverest:
its really appalling that educated nigerians are writing all these.

As a non-partisan,who isnt happy with the current leadership,i admit that d current situation is as a result of massive looting.

The problem with most nigerians is that they dont learn from history.

Is he isinuating that we go back to looting?

malware:
I came across this question asked by a facebook user who happen to be a Northerner, on the incessant hike in the dollar exchange rate. See the question:

How did the Dollar stay at N170 for 4 years under "massive looting of surpluses"? How is it now at N510 under "massive savings"? Why?

BlackSeptember:
The Northerner are tired but religious sentiments won't allowed them to speak up.


Fizznation has gone under

TheGoodJoe:
Na wa.

Dollars was available during GEJ's time because of massive inflow of dollars. It means dollars was not scarce due to high prices of Crude Oil and sales in large quantities.

Today, due to the drop in demand of Crude Oil internationally, low Crude Price and disturbances in the Niger Delta, there is less dollars in the system. There is low sales with low Crude Oil Prices. This makes dollars scarce and the high exchange rate.

So it is not a case of massive looting or massive savings.

luvinhubby:


Really?

So what logic explains a healthy economy in the midst of massive looting and a blasted economy in midst of agressive saving?

ArcFresky:



I am not saying Buharis govt has been good. But don't you think the problem might be our thirst for foreign goods?
Or have you ever bought a car assembled in Nigeria?
It was even Here someone was complaning he can't eat imported rice anymore.

See the problem in the 1980's maybe was PMB's fault, but today's problem is our collective fault..
1. Everyone wants imported goods
2. Govt bans imported goods ( which makes it v.expensive) then local manufacturers jackup their prices.. E.g chicken, turkey, rice.. E.t.c
3. Govt abuse power, we just sit down, watch and pray our turn comes to get into govt.

So you see its our fault. And until we are ready, nothing will change.

Lordsocrates:
Idiots like this glory on their ignorance and feel they know all.
by 2014 oil started falling and when it was sold for 76dollar per barrel, and Nigeria exporting 2million Barrels a day.. NOI Came out to tell us to prepare for hard time.

http://www.premiumtimesng.com/business/171145-brace-tougher-times-ahead-okonjo-iweala-tells-nigerians.html

and this idiot is comparing when oil our nations main n only export, sold for $140 dollars to when it fell to






























20dollars


http://www.ecowatch.com/oil-prices-drop-below-30-a-barrel-for-first-time-in-12-years-1882149073.html

per barrel and only recently rose to 40dollar per barrel.
and some idiots are hoping to enjoy importing all they were importing while oil price was at 140per barrel, now that it has not just fallen to 40dollar per barrel, but we are exporting less than a million barrel per day as a result of the Avengers.

i

TheGoodJoe:
Na wa.

Dollars was available during GEJ's time because of massive inflow of dollars. It means dollars was not scarce due to high prices of Crude Oil and sales in large quantities.

Today, due to the drop in demand of Crude Oil internationally, low Crude Price and disturbances in the Niger Delta, there is less dollars in the system. There is low sales with low Crude Oil Prices. This makes dollars scarce and the high exchange rate.

So it is not a case of massive looting or massive savings.

Lordsocrates:
take for example, Your Dad was working at shell, earning 140,000 naira every week, and you guys were swimming In money flexing it as however you liked.

however, as a result of unforseen circumstances, the company reviewed his salary. and he is now earning just 40,000 from the 140,000 and instead of earning it a week, he is jus earning it a month.

So tell me, will you people still be buying the latest cars and having loads of money to spare, now that your dads means of revenue has taken an 80% slash, from 140,000 to 40,000, and from earning it per week to earning the 40,000 per month.
if you guys didn't save up money for a rainy day like now, won't you guys no start selling off your luxuries to survive,

Nigeria problem is easy to understand, Just that some folks are just tooooo dumb, same way our leaders were too dumb to not save up in time of plenty.

shebi the say "Our Hero, " ? its easier to see that the dumbness is viral, from mentor to mentees " the apple really didn't fall far from the tree.

Lordsocrates:


so now from 40 to 50, and with the IOC's saying they wont repair the bombed pipelines

http://www.premiumtimesng.com/news/headlines/204653-shell-confirms-avengers-attacks-forcados-pipelines-suspends-oil-exports-indefinitely.html

and you want to enjoy all the things you enjoyed with oil at &140-120 per barrel. with 2million plus drilled daily ?

una get plennnnty sense oo, I dey hail

Kanyekels:
Where is Prophet Onatisi You predicted these things and they are gradually coming to pass.

malware:
I came across this question asked by a facebook user who happen to be a Northerner, on the incessant hike in the dollar exchange rate. See the question:

How did the Dollar stay at N170 for 4 years under "massive looting of surpluses"? How is it now at N510 under "massive savings"? Why?

mrdcai:


So the economic policies of the present administration did not contribute in any way?

amarachi06:
Thank God our wailers form has finished cos we have stopped accepting people. As for PMB, he knows his time has passed but just wanted to mess us up again before dying and for rejecting him.
My problem is with those that repackaged a brain dead individual to head a complex Country with no economic or education to his advantage. In a sane Country, he will be given EFCC chairman since he admires corruption.

TheGoodJoe:


The Policies are just stunts to save an economy destroyed by the wastage of the past administration. The harm was done when we did not diversify the economy and save for a rainy day.

4Play:
I think GEJ was the least bad of 2 crap options. GEJ was a spineless buffoon who aided and abetted corruption but he didn't, unlike Buhari, have an affinity for economically illiterate policies.

Unlike most people, I believe that inept economic policies are a bigger vice than corruption. Buhari's first tenure was an ode to economic ineptitude. Corruption will still carry on regardless, at best to a lesser degree, but the avalanche of daft policies will be his greatest undoing.