....and I hear the dullar..d wants to contest come 2019..... to make naira become issue paper.

luvinhubby:


You dey craze?

One breath you said companies are leaving, next you are saying profits are declining, which one do we follow?

Hey mind ur language, its just a discussion and not a abusing contest.

I live there and i see it with my eyes everyday but news like that don't make the gulfnews in order not to discourage other willing investors. Ask anybody living in Dubai or Sharjah whether it true or not. The point still is, slump in Oil prices causes decline in economy progression, its a chain reaction. And i intentionally gave u examples of organised economy and how they felt the impact. If it affects country with little or no corruption what will be Nigeria's fate.

Tokziby:
I still don't understand why people still post this " Under Mass Looting and corruption Dollar was N170 while Under Mass Savings and fighting Corruption Naira 500".

Under GEJ,
oil was over $100, oil production at 2.2M barel/day and we had monies in dollars flowing through banks and people did have cause to hoard dollars to exchange at higher rate. The excess on the dollars that was to be save incase of recession was shared among the government bodies cos they thought the affluence would last forever. This is the case of living in affluence and spending monies anyhow thinking hard times will never befall u. And when the inflow of monies stops or reduces u will not be able to manage ur expensive life style and become broke cos u failed to save and live within ur limits. There are musicians and sportsmen u can make examples of Mike Tyson, Mc Hammer, Micheal Jackson before his death became broke, Our own Daniel Amokachi and host of others.

Under PMB
Oil fell to $30, militant depleted the production to 1.4M barel/day, becuase we didnt save during the raining days our reserve couldnt withstand or expenses, The flow of government monies through the banks stopped, looters were afraid and took their monies away from the bank to hide their ass, and Nigerians as we know took advantage of it and hoard the dollars to make it scarce and maximize their profit.

Conclusion
If we were still under GEJ and oil prices fell to $30 p/b while still producing at 2.2M b/d, and with the excessive looting and spending, do u still think dollars will be N170 or even N500 with their lavish lifestyle?

Remember the words of Sanusi when the alleged $20 Billion dollars was missing and the looming economic crises after 2015 if nothing was done.
Recession was inevitable whether under GEJ or PMB. The policies of PMB has it flaws and people around him are corrupt but with the way things are now we can see our past mistake and ways to correct it even after PMB leaves office, our eyes are open now and we can see those who led us to this. If we dont taste hardship we will never value our comfort.

No need to really waste your time explaining, we truly have more blockheads than normal people in our part of the world. But then again, the truth is that the govt isnt doing enough to stem this ugly tide in the exchange rate, the govt has been totally dormant.

KidsNEXTdoor:

You don't need source to know that Buhari is a fraud
Wake up
Buhari is the president now
Wats d fuss with obasanjo and GEJ ?
Concentrate on Buhari stop giving him excuses to fail

He will wreak this country if we don't hold him accountable

I said PMB gets a C on anticorruption but F9 in management of economy. ... How's that exonerating him?

Read my post again, sapele water has clouded your vision.

ayobamiakinrind:


When will your CHANGE masters cut costs?

they were able to cut cost because they have an organized economy but the same cannot be said of our dear country cause we know it "Jagajaga". If PMB is clean i cannot vouch for the next in power, the case of PMB is the case of a rich man among a million poor people. He can only do little and set the precedence for good governance. Let PDP come in and do their own witch hunting, by the time they exchange hand like two times Nigeria would have sit tight and reduce the level of corruption.

GreenMavro:



as i saw 510 i tot it was Arsenal Bayern scoreline 5-1

Just like the price of dollars Aresenal was defeated 5-1


Front page things...


I dedicate this feat to all Arsenal fans may Bayern Munich call you in 13 years time to apologize for yesterday's defeat

h guy wat ur problem with Arsenal

Tokziby:


Hey man, no be fight, When u fall from the top, to get back is not a day job to get back up. Even if the price flies to $150 today, Nigeria will still not be transformed overnight, it will still take time to put things the way they were. You can destroy a house under one 1hr but it will take u months to build even if u have all the monies in this world because u must follow the right procedure if u want ur house to last long.

Yes destruction is Buhari's Trademark

Tokziby:


they were able to cut cost because they have an organized economy but the same cannot be said of our dear country cause we know it "Jagajaga". If PMB is clean i cannot vouch for the next in power, the case of PMB is the case of a rich man among a million poor people. He can only do little and set the precedence for good governance. Let PDP come in and do their own witch hunting, by the time they exchange hand like two times Nigeria would have sit tight and reduce the level of corruption.

Now it's PMB alone abi, not APC anymore? Did PMB contest on a different platform? Didn't he and his caucus say no GOVERNMENT OFFICIAL will seek medical care abroad? Define a government official pls. APC-including Buhari- is corrupt. Stop celebrating mediocrity.

Its like i will convert all my money to dollars or bitcoins

Tokziby:
I still don't understand why people still post this " Under Mass Looting and corruption Dollar was N170 while Under Mass Savings and fighting Corruption Naira 500".

Under GEJ,
oil was over $100, oil production at 2.2M barel/day and we had monies in dollars flowing through banks and people did have cause to hoard dollars to exchange at higher rate. The excess on the dollars that was to be save incase of recession was shared among the government bodies cos they thought the affluence would last forever. This is the case of living in affluence and spending monies anyhow thinking hard times will never befall u. And when the inflow of monies stops or reduces u will not be able to manage ur expensive life style and become broke cos u failed to save and live within ur limits. There are musicians and sportsmen u can make examples of Mike Tyson, Mc Hammer, Micheal Jackson before his death became broke, Our own Daniel Amokachi and host of others.

Under PMB
Oil fell to $30, militant depleted the production to 1.4M barel/day, becuase we didnt save during the raining days our reserve couldnt withstand or expenses, The flow of government monies through the banks stopped, looters were afraid and took their monies away from the bank to hide their ass, and Nigerians as we know took advantage of it and hoard the dollars to make it scarce and maximize their profit.

Conclusion
If we were still under GEJ and oil prices fell to $30 p/b while still producing at 2.2M b/d, and with the excessive looting and spending, do u still think dollars will be N170 or even N500 with their lavish lifestyle?

Remember the words of Sanusi when the alleged $20 Billion dollars was missing and the looming economic crises after 2015 if nothing was done.
Recession was inevitable whether under GEJ or PMB. The policies of PMB has it flaws and people around him are corrupt but with the way things are now we can see our past mistake and ways to correct it even after PMB leaves office, our eyes are open now and we can see those who led us to this. If we dont taste hardship we will never value our comfort.

excuses and analysis like this brought us here, the earlier we forget the past and face the business the better for us. when apc /Buhari stopped the contracts given to ex-militants, a lot of people cheer them on, now we are complaining of militancy in the Niger Delta. GEJ was bad but PMB is worse.

Bizibi:
And they actually said we are recovering fast.....they need to get themselves a real economic team.

Please, I just need a bit of clarification. If the exchange rate keep increasing, does that mean that the price of things in Nigeria increases too? Or is it that Naira just loses value? Thank you.

Pretentious Mr integrity PMB. Fake integrity. Atleast Jonathan used Aso rock clinic while mr fake integrity goes abroad every 3 months for treatment. Someone that said he wil stop govt officials from goin abroad for treatment. Is that GEJs fault too.Thats is why til now no one knows how they spent money in zahras wedding. No media coverage so he can maintain his fake integrity. Yet u will see some pro buhari protesters in the sun while his kids are in uk with otedolas and indimis. i dont know of they curse they and their families wiithb suffering

Tokziby:
I still don't understand why people still post this " Under Mass Looting and corruption Dollar was N170 while Under Mass Savings and fighting Corruption Naira 500".

Under GEJ,
oil was over $100, oil production at 2.2M barel/day and we had monies in dollars flowing through banks and people did have cause to hoard dollars to exchange at higher rate. The excess on the dollars that was to be save incase of recession was shared among the government bodies cos they thought the affluence would last forever. This is the case of living in affluence and spending monies anyhow thinking hard times will never befall u. And when the inflow of monies stops or reduces u will not be able to manage ur expensive life style and become broke cos u failed to save and live within ur limits. There are musicians and sportsmen u can make examples of Mike Tyson, Mc Hammer, Micheal Jackson before his death became broke, Our own Daniel Amokachi and host of others.

Under PMB
Oil fell to $30, militant depleted the production to 1.4M barel/day, becuase we didnt save during the raining days our reserve couldnt withstand or expenses, The flow of government monies through the banks stopped, looters were afraid and took their monies away from the bank to hide their ass, and Nigerians as we know took advantage of it and hoard the dollars to make it scarce and maximize their profit.

Conclusion
If we were still under GEJ and oil prices fell to $30 p/b while still producing at 2.2M b/d, and with the excessive looting and spending, do u still think dollars will be N170 or even N500 with their lavish lifestyle?

Remember the words of Sanusi when the alleged $20 Billion dollars was missing and the looming economic crises after 2015 if nothing was done.
Recession was inevitable whether under GEJ or PMB. The policies of PMB has it flaws and people around him are corrupt but with the way things are now we can see our past mistake and ways to correct it even after PMB leaves office, our eyes are open now and we can see those who led us to this. If we dont taste hardship we will never value our comfort.

I'm just happy you mentioned that Buhari's policies are basically shit. I'm getting sick of this rhetoric of " if this happened during GEJ tenure the country would have collapsed" Oil prices are climbing and yet things are getting worse everyday. It just doesn't add up any longer. I thought we would have learnt our lesson from relying solely on Crude, yet our knuckle head President still sank millions of dollars into the Chad basin still ignoring other solid minerals that could still be explored

emefiele ll kill nigerians wit his clueless policies.

Wahala dey ooo. And the funniest thing is that the CBN Governor will be seeing the rising External Reserves as a great accomplishment.

mykel20:
I'm just happy you mentioned that Buhari's policies are basically shit. I'm getting sick of this rhetoric of " if this happened during GEJ tenure the country would have collapsed" Oil prices are climbing and yet things are getting worse everyday. It just doesn't add up any longer. I thought we would have learnt our lesson from relying solely on Crude, yet our knuckle head President still sank millions of dollars into the Chad basin still ignoring other solid minerals that could still be explored

Even if oil price flies to $200 today, it will still require time to get out of this mess. As for me i'm also not happy with the current crises in Nigeria, but it was predicted before now that regardless of whoever is at the helms Nigeria will surfer, yet this was during the oil boom cos we neglected savings. it was a ticking time bomb.
The lighter part of it now is that we now know our true status and can identify some of the looters cos the remaining are still under APC. It is said that, "when there is affluence in the land, everyone living there are considered coward or lazy and cannot know our their potential but when there is adversity in the land it brings the best out of people to overcome it and suddenly become wiser and hardworking to get comfort". I pray and hope that as we have known that agriculture and diversity is the way out, we should not digress and continue to stick with it cos in the long run oil prices will still fall, as people are already developing new technology to do away with oil in the future

RealPhoenix:



excuses and analysis like this brought us here, the earlier we forget the past and face the business the better for us. when apc /Buhari stopped the contracts given to ex-militants, a lot of people cheer them on, now we are complaining of militancy in the Niger Delta. GEJ was bad but PMB is worse.

Bro, this are not excuses but reality, it was predicted and its coming to past, we were sitting on a time bomb and people should stop posting false comment. We had no choice but to kick him out, cos if he had continue u might not have had opportunity of typing this. BH might have owned half of Nigeria. Dollars would have been around 2k and Nigeria could have been looted dry coupled with the drop in oil price. By December 2014 they had been complaining that Nigeria was broke. If PMB might not be the messiah but he allowed us to know the true state of the nation and people responsible for our woes even if they had not been convicted, we are seeing evidences here and there. And everyday killing by BH has reduced and not completely eradicated. We can now see how some governors are competing with each other in embarking on capital project even if them go loot half of the money but they will try and complete it. Everybody now see that entrepreneurship is the way out. I believe if there is continuity this way, we will get there someday but it may take time.

Maybe u were cheated??

aminho:
All lies i just changed 5k usd at the cost of 495 this morning

dovelike:

Please, I just need a bit of clarification. If the exchange rate keep increasing, does that mean that the price of things in Nigeria increases too? Or is it that Naira just loses value? Thank you.

ideally, the prices of things doesn't necessarily shoot up but in our case, we are import dependent so most prices here are relatable to the dollar. Since the dollar rate has almost gone 3x higher, hence the crazy increases in prices.
Then there is the spiral effect of this on the whole economy that's why the price of locally made Garai would double too.
Then the case would have been reverse if we were export driven or not so bad if we had a balance of trade.
I know you didn't ask me, just hope I could help

dovelike:

Please, I just need a bit of clarification. If the exchange rate keep increasing, does that mean that the price of things in Nigeria increases too? Or is it that Naira just loses value? Thank you.

yes the naira is losing its value fast and that will cause a negative effect on everything in Nigeria both on goods and services, we are lucky that it is on this exchange rate.

Tokziby:


Even if oil price flies to $200 today, it will still require time to get out of this mess. As for me i'm also not happy with the current crises in Nigeria, but it was predicted before now that regardless of whoever is at the helms Nigeria will surfer, yet this was during the oil boom cos we neglected savings. it was a ticking time bomb.
The lighter part of it now is that we now know our true status and can identify some of the looters cos the remaining are still under APC. It is said that, "when there is affluence in the land, everyone living there are considered coward or lazy and cannot know our their potential but when there is adversity in the land it brings the best out of people to overcome it and suddenly become wiser and hardworking to get comfort". I pray and hope that as we have known that agriculture and diversity is the way out, we should not digress and continue to stick with it cos in the long run oil prices will still fall, as people are already developing new technology to do away with oil in the future

Well said my friend, well said. I only hope Nigeria gets out of this mess soon enough and that we Nigerians Learn from our past mistakes.

raydatluvs:
ideally, the prices of things doesn't necessarily shoot up but in our case, we are import dependent so most prices here are relatable to the dollar. Since the dollar rate has almost gone 3x higher, hence the crazy increases in prices.
Then there is the spiral effect of this on the whole economy that's why the price of locally made Garai would double too.
Then the case would have been reverse if we were export driven or not so bad if we had a balance of trade.
I know you didn't ask me, just hope I could help

You helped, a lot. Thank you.

anonimi:


........and away in London burning our scarce foreign exchange after banning all government officials from treatment abroad.
What can be more corrupt

Hmm.

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Tokziby:


Oga mi, why would they hide it if their ass were clean. Its the problem we must face if we were to reduce corruption in our country. Let us build it with our sweat not stolen monies, dangote, Alakija, otedola, adenuga, Tony elemelu etc will not hide dollars in their house to conceal their ass.

that's true sha.

duni04:
OP please where is your link This is suspicious news. Nigeria's oil production is currently 2 million barrels per day, 200,000 barrels short of the budget benchmark of 2.2million barrels per day. When the Forcados pipeline comes on stream in the next 2 months, production may even surpass the benchmark budget rate. Except someone is plotting to blow pipelines soon, these people hoarding dollars are in for a big surprise and massive losses.

Story.

Nice