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Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User - Politics (5) - Nairaland

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Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ISTANDWITHBUHAR: 3:03pm On Feb 04, 2017
link2ok:




History Being Repeated?
.
In 1983:
.
$1 = N 1
£1 = N2
Volkswagen Beetle = N400
Foods were in abundance
Kids were in school
Businesses were booming with vibrant
economy and people were gainfully
employed.
No illegal arrest or media trial.
Rule of law was maintained.
.
On 31 December, 1983, he and his criminal
gang struck with the excuse of tackling
widespread corruption and within few
months,
.
$1 = N15
£1 = N40
Volkswagen Beetle = N8, 000
Kids dropped out of school because their
parents couldn't afford their school fees
anymore.
Businesses closed down.
Foods were rationed as people queued up
for essential commodities.
Many Nigerians lost their jobs because the
economy collapsed.
Innocent Nigerians were arrested for free
speech and human rights violated with
impunity.
The Constitution was suspended.
.
He blamed Alh. Shagari's govt for this mess.
He blamed corruption, yet he jailed Dr. Alex
Ekwueme (the Vice President) but left
Shagari (the president) in his palace.
.
But when another gang threw him out, and
within few months, Nigerians started
smiling again. Our kids returned to school,
food was in abundance again, Nigerians got
their jobs back and the economy was
revived etc.
.
In 2015:
.
$1 = N197-210
£1 = N289-320
Cars were affordable with local
manufacturers smiling to the bank.
Food was in abundance (at least a bag of
rice was N7, 000)
Kids were in school
Businesses were booming with vibrant
economy and people were gainfully
employed.
No illegal arrest or media trial.
Protesters (esp BBOG) were not killed or
teargassed.
.
On 29 May, 2015 when he was 'jega-ed' into
power:
.
$1 = N315-490
£1 = N550-610
Local car manufactures shut down their
plants due to harsh economic condition.
Famine was unleashed on Nigerians and a
bag of rice rose to N22, 000/27, 000 while
minimum wage remains N18, 000.
Kids dropped out of school.
Businesses closed down, millions lost their
jobs and inflation is in double digits.
Illegal arrest, disregard of Rule of Law and
media trial is the order of the day.
Peaceful Protesters (esp IPOB) are being
killed like chicken without provocation.
.
Just like in 1985, he's blaming corruption
and his predecessor for the same mess he
created within few months of assumption
of office.
"YOU CANNOT PUT A CROWN ON A CLOWN
AND EXPECT A KING."


Should we say you write with no brain?

1 Like

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by OreMI22: 3:15pm On Feb 04, 2017
They are still complaining for N500 naira to one dollar?

Audu Ogbeh already told you people the target is to get it to N1,000 naira to $1.

With Emiefiele, Adeosun and Buhari being the economic team of Nigeria, N1,000 may even be an underestimation.
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by amarachi06(f): 3:17pm On Feb 04, 2017
ISTANDWITHBUHAR:



Common sense is not common at all, Reason a lady rarely allow to rule country is that lack reasoning mentality..... The below might help you..


About the guy question, I think most of people that reply his comment are daft, They should ask him are we printing dollar?NO how do we get access to Dollar? We get dollars from what we export which is only Crude oil...

Now how much was crude oil when the looting spread was going on? $100-$140 Per Barrel meaning we have enough access to Dollar..

How much is Crude oil when Buhari take over Power? $28 per barrel meaning we lose almost $200million daily due to fall in crude oil price..

Since we are not printing dollars and the only thing we export is Crude oil and we import almost everything including toothpick.... hahhaa

Ewu! Gerraahia paid agents.

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by Nobody: 3:18pm On Feb 04, 2017
TheGoodJoe:


Despite what some have termed the looming doom hovering over the nation's horizon as a result of the crash in oil price, Co-ordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Thursday assured of Nigeria's readiness to weather the storm, should the price slide further at the international market.

Brent crude oil futures fell below $74 per barrel on Thursday after the group decided not to cut production, despite global oversupply.


Nov. 2014, at $74 Per barrel, we were in trouble. Okonjo-Iweala was talking of austerity measures because we wasted our resources. Simple.

Under PMB,
With a fixed exchange rate, the dollar rose against the Naira. With a semi-flexible exchange rate, the price soared at a faster rate.

Those blaming the economy on fixed exchange rate are being economical with the truth. If Crude Price rises to over a $100, we can defend the naira with a fixed exchange rate or flexible exchange rate.

It is absolutely not true blaming the collapse on Buhari. Most experts screamed devaluation but that would not stop the dollar from rising.

A fixed rate would have reduced the rate but it would still go up. However, our reserves would be in shambles by now.

Our problem is not exchange rate but the terrible state of our production industry. Unfortunately, during the boom, GEJ and co wasted our resources.
Thanks for this piece. The reasoning of people cursing this dispensation is an indication of everything that is wrong with nigerian educational system.

3 Likes

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by link2ok(m): 3:19pm On Feb 04, 2017
ISTANDWITHBUHAR:



Should we say you write with no brain?


Tell that you your father.


Lunatic
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ISTANDWITHBUHAR: 3:34pm On Feb 04, 2017
amarachi06:


Ewu! Gerraahia paid agents.


LOL how else are we going to convince someone with mold under her wig?

When last did water touch your head cos i guess reason your brain is not functioning..
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by amarachi06(f): 3:36pm On Feb 04, 2017
MakeADifference:
The few forms I have here is in demand like hot cakes. I reserved a few for Tinubu, Femi Falana, Tunde Bakare and other high profile anti-wailers. I know very soon they'll beg to apply.

You know the one first lady returned after they threatened her for coming out of sitting room, kitchen, and the otherroom? I just gave that one to ...

Don't let me talk more than that.



Please reserve it for Father Mbaka too cos l heard the recession is affecting his English now.

1 Like 1 Share

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ISTANDWITHBUHAR: 3:36pm On Feb 04, 2017
link2ok:



Tell that you your father.


Lunatic


What do we expect from tribe that wake their parent up in bed with kung fu?

1 Like

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by amarachi06(f): 3:41pm On Feb 04, 2017
ISTANDWITHBUHAR:



LOL how else are we going to convince someone with mold under her wig?

When last did water touch your head cos i guess reason your brain is not functioning..

Ewu at least am better than you cos you don't have sense and so sorry to remind you but you are a waste to human including your family and for your info, your papa should have worn Condom the day he met with your mama.
Continue to stand with a brain dead man.
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by amarachi06(f): 3:47pm On Feb 04, 2017
ISTANDWITHBUHAR:



LOL how else are we going to convince someone with mold under her wig?

When last did water touch your head cos i guess reason your brain is not functioning..

Ewu at least am better than you cos you don't have sense. Am so sorry to remind you but you are a waste to humans, including your family and for your info, your papa should have worn Condom the day he met with your mama.
Continue to stand with a brain dead man.
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ISTANDWITHBUHAR: 3:53pm On Feb 04, 2017
amarachi06:


Ewu at least am better than you cos you don't have sense and so sorry to remind you but you are a waste to human including your family and for your info, your papa should have worn Condom the day he met with your mama.
Continue to stand with a brain dead man.


LOL what makes you better than me?


You that did not know how things work economically?

You that did not know when Crude Oil price was $140 we will surely have enough dollars to service our Forex?

You that did not know when Crude Oil price drop to $28 the Dollar will be scarce since it's not our official currency and we cannot print dollar?

You that did not know NDA avengers will actual affect us econonmically aand started praising them thinking you are punishing Buhari not knwoing you are punishing yourself.


The list is endless small..


Well i won't blame you, You have been tasting D1ck and don't know your mate again? You have been enjoying what your mother use to enjoy and make you think everyone are your mate..

1 Like

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ilynem(m): 3:55pm On Feb 04, 2017
abdulrazat:


Please educate us Mr. History...

stop sulking and accept the fact that Buhari was not the best choice.
First you need to ask your self what determines the price of currencies? Simple. Supply and demand. Now how do we earn dollars? Simple. Exportation. What do we export in Nigeria? Simple. Crude oil alone. Every other thing is imported. How much was crude oil (the only thing we export) sold under Gej? Simple. An average of 100 dollars per barrel. Hence there was less pressure on the demand of dollars cuz we earned more then. What should Gej have done in that time of plenty? Save for rainy day and diversify the economy so we can export more products and earn more dollars. But what did he do? Nothing. And made sure we continued to depend on exportation of a product which price was not determined by us and was very erratic. Now, price of oil is about 30 to 40 dollars per barrel with avengers reducing production and you expect us to have more dollars to trade? This simple means we are earning less dollars hence there is pressure on dollars cuz the demand is more than the supply. And remember, we import every single item including refined oil. This has also led to hike in prices. Let me explain why. As an importer, you used to buy one dollar at 175 naira and now you buy it at 500 naira. Question. When you import your product, will you sell it at the same price? Nope.
Moral of the story. You should have listened during economics classes.

1 Like

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by amarachi06(f): 4:04pm On Feb 04, 2017
ISTANDWITHBUHAR:



LOL what makes you better than me?


You that did not know how things work economically?

You that did not know when Crude Oil price was $140 we will surely have enough dollars to service our Forex?

You that did not know when Crude Oil price drop to $28 the Dollar will be scarce since it's not our official currency and we cannot print dollar?

You that did not know NDA avengers will actual affect us econonmically aand started praising them thinking you are punishing Buhari not knwoing you are punishing yourself.


The list is endless small..


Well i won't blame you, You have been tasting D1ck and don't know your mate again? You have been enjoying what your mother use to enjoy and make you think everyone are your mate..



A better diCk than yours and it gives me satisfaction.
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ISTANDWITHBUHAR: 4:12pm On Feb 04, 2017
amarachi06:


A better diCk than yours and it gives me satisfaction.


LOL you can't even stand my D1ck else you will break into 2... I no dey give people wey be like skeleton my D1ck...


grin grin
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by amarachi06(f): 4:17pm On Feb 04, 2017
ISTANDWITHBUHAR:



LOL you can't even stand my D1ck else you will break into 2... I no dey give people wey be like skeleton my D1ck...


grin grin

No wonder.......... Gosh!
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ISTANDWITHBUHAR: 4:31pm On Feb 04, 2017
amarachi06:


No wonder.......... Gosh!

Yes so make you know your mate..
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by amarachi06(f): 5:40pm On Feb 04, 2017
ISTANDWITHBUHAR:


Yes so make you know your mate..

My dear how old do you think l am? That pic is my sis in Esut, not me. I am way older than you and if you should calculate, start from when PMB came in power for the first time. I have three kids now so don't mess with me on age matter.
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ISTANDWITHBUHAR: 6:16pm On Feb 04, 2017
amarachi06:


My dear how old do you think l am? That pic is my sis in Esut, not me. I am way older than you and if you should calculate, start from when PMB came in power for the first time. I have three kids now so don't mess with me on age matter.



I am a grown up guy when Buhari came into power in 1983 hahaha, I also have 3 kids and your sister will only take few yrs from my Daughter...


One again respect your elders..

1 Like

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by me69: 6:47pm On Feb 04, 2017
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?
Kindly remind yourself of the price of oil during these times

2 Likes

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by Splashme: 7:14pm On Feb 04, 2017
konfused:
THIS IS EXACTLY WHAT HAPPENED IN 2015.
*During campaign*
APC: Young man what are you eating?
Nigerian: Rice
APC: Rice and what?
Nigerian: Rice and one meat.
APC: What are you drinking?
Nigerian: Fanta.
APC: This is bad, you deserve rice and beans with at least 5 meats and your choice drink.
Nigerian: Is that so?
APC: Yes. Make our candidate your cook and we will see to that and more.
*Nigerian votes. APC wins,
#Day 1*
APC: Food is ready.
Nigerian: What do we have.
APC: Beans and pure water.
Nigerian: No meat?
APC: No meat, I met the kitchen virtually empty.
*Nigerian eats*
#Day 2.
Nigerian: No food today?
APC: Nope, your cook travelled.
#Day 3
APC: Food don ready:
Nigerian: What do we have today?
APC: Beans.
Nigerian: No pure water?
APC: The last cook looted your kitchen.
#Day 4
Nigerian: No food today?
APC: Nope, your cook travelled. He's gone to recover your looted meat, bread, sugar and other cooking items.
Nigerian: But at least there should be something to eat.
APC: He used the remaining to fund his journey and repair his plane.
#Day 5
APC: Food is ready.
Nigerian: What did you cook?
APC: Cook kee, the economy is bad and oil price is nose diving so manage this garri, kuli kuli and milk.
Nigerian: So we can't afford beans now?
APC: The last cook used fulani herdsmen to destroy our ban and embarrass your new cook
Nigerian: No sugar?
APC: The last cook used all the sugar.
#Day 6
Nigerian: Wetin dey today.
APC: Garri dey... If you get money go use am buy kuli kuli and milk.
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by vislabraye(m): 7:22pm On Feb 04, 2017
4Play:


Don't mind him. He doesn't understand that having different exchange rates allows looting on a scale unimaginable. Lots of highly connected people can buy dollars at N305 at the official rate and sell it in the black market for N500.

People are profiting from the hardship of Nigerians and the blue font guy is busy trying to save face as a long standing supporter of Buhari.

Exactly !! All these loopholes give room fraud. This president is not sharp at all. Or using N270m to cut grass is not fraud .

1 Like

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by quickly: 7:36pm On Feb 04, 2017
IF YOU DONT HAVE A BSC FROM UNIVERSITY YOU SHOULD NOT NEAR GOVERNMENT TALKLESS OF PRESIDENCY.


HOW CAN A MAN WHO EARN SALARY ALL HIS LIFE CREATE JOBS. WHEN HE CANNOT CREATE ONE FOR HIM SELF

1 Like

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by Nobody: 8:58pm On Feb 04, 2017
konfused:
THIS IS EXACTLY WHAT HAPPENED IN 2015.
*During campaign*
APC: Young man what are you eating?
Nigerian: Rice
APC: Rice and what?
Nigerian: Rice and one meat.
APC: What are you drinking?
Nigerian: Fanta.
APC: This is bad, you deserve rice and beans with at least 5 meats and your choice drink.
Nigerian: Is that so?
APC: Yes. Make our candidate your cook and we will see to that and more.
*Nigerian votes. APC wins,
#Day 1*
APC: Food is ready.
Nigerian: What do we have.
APC: Beans and pure water.
Nigerian: No meat?
APC: No meat, I met the kitchen virtually empty.
*Nigerian eats*
#Day 2.
Nigerian: No food today?
APC: Nope, your cook travelled.
#Day 3
APC: Food don ready:
Nigerian: What do we have today?
APC: Beans.
Nigerian: No pure water?
APC: The last cook looted your kitchen.
#Day 4
Nigerian: No food today?
APC: Nope, your cook travelled. He's gone to recover your looted meat, bread, sugar and other cooking items.
Nigerian: But at least there should be something to eat.
APC: He used the remaining to fund his journey and repair his plane.
#Day 5
APC: Food is ready.
Nigerian: What did you cook?
APC: Cook kee, the economy is bad and oil price is nose diving so manage this garri, kuli kuli and milk.
Nigerian: So we can't afford beans now?
APC: The last cook used fulani herdsmen to destroy our ban and embarrass your new cook
Nigerian: No sugar?
APC: The last cook used all the sugar.
#Day 6
Nigerian: Wetin dey today.
APC: Garri dey... If you get money go use am buy kuli kuli and milk.
guy come marry my sister....
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ba7man(m): 9:14pm On Feb 04, 2017
Threads like this reveal the IQ of people you're arguing with.

They don't even know what determines a currency's exchange rate, all they say is "garri was N40 under GEJ, its now N200 under Buhari".

Very shallow, daft individuals, ask them "why"? They'll break off into a "Back in 1983" rant as if they were alive back then to know what truly happened.

1 Like

Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by konfused: 3:24am On Feb 05, 2017
stefanbanach:
guy come marry my sister....


Hahahaha<

ego ole di involved!!!!!!
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by amarachi06(f): 12:42pm On Feb 05, 2017
ISTANDWITHBUHAR:




I am a grown up guy when Buhari came into power in 1983 hahaha, I also have 3 kids and your sister will only take few yrs from my Daughter...


One again respect your elders..

You don't have grownups like you said cos your comments says who you are.
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by juman(m): 12:56pm On Feb 05, 2017
quickly:
IF YOU DONT HAVE A BSC FROM UNIVERSITY YOU SHOULD NOT NEAR GOVERNMENT TALKLESS OF PRESIDENCY.


HOW CAN A MAN WHO EARN SALARY ALL HIS LIFE CREATE JOBS. WHEN HE CANNOT CREATE ONE FOR HIM SELF

One does not need to be a graduate to perform excellently as president.
Most important thing needed is determination, thats what the nigerian "leaders" do not have.

An example is Lula da Silva, a man with little formal education, but performed very very well as president.


https://www.youtube.com/watch?v=n0zzDBdW7Gw
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by ISTANDWITHBUHAR: 2:54pm On Feb 05, 2017
amarachi06:


You don't have grownups like you said cos your comments says who you are.


Okay ooo but i am your senior brother..
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by cuteboy2: 3:30am On Feb 07, 2017
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?

This one still doesn't get the message. Someone should help reset his brain from the epic 2015 election propaganda.
Re: Why Is Dollar Echanging At N510 Under Buhari? - Northern Facebook User by whywhyogun: 4:54am On Feb 07, 2017
how can 510 be? i am living in Hongkong, and the exchange rate is always 315.

can anyone explain this?

is naira really falling to 510? i am always dealing by 315. dont tell me i am always being cheated by the money changer?!!!!!

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