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Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency - Business (2) - Nairaland

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Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Lnxxxxx(m): 7:40am On Apr 12, 2018
Where is Venezuela?
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by DabLord: 7:40am On Apr 12, 2018
dapsin999:
Nigeria will Tripple take in Buhari’s second term!
it's your family that will

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Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by BadBradley: 7:43am On Apr 12, 2018
GavelSlam:


Provide a quote
quote or proof?
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by obailala(m): 7:44am On Apr 12, 2018
With the current figure in the foreign reserves and the current stability in oil price, if the CBN wants to return the NAIRA to where it was in early 2015 (i.e. N200/$), it can achieve that effortlessly by dolling out some dollars to the market every month as was the tradition before now.

But then, to what end exactly? For a country that produces nothing, that would amount to subsidizing imports again and the little boost which has been received in agriculture and some other export products would be eroded again as Nigerians return to their import culture. Fact of the matter is that the Naira was overvalued, and (I believe on expert advice) the CBN has chosen to maintain the Naira at the current N360/$1 as has been the case for about a year now.

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Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Promismike(m): 7:45am On Apr 12, 2018
dapsin999:
Nigeria will Tripple take in Buhari’s second term!
ok
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 7:46am On Apr 12, 2018
BadBradley:
quote or proof?

Quote.

Anybody can publish any headline but a quote means you are relaying a statement verbatim.

2 Likes

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 7:49am On Apr 12, 2018
Lnxxxxx:
Where is Venezuela?

South America. Before hand over of 2015 we were primed to be like Venezuela.

They would have used Boko Haram and Fulani Herdsmen as the reason for the economy going tits-up.

1 Like

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by BadBradley: 7:54am On Apr 12, 2018
GavelSlam:


Quote.

Anybody can publish any headline but a quote means you are relaying a statement verbatim.

https://www.google.com.ng/amp/s/www.thecable.ng/documented-promises-buhari-apc-made-nigerians/amp

https://www.google.com.ng/amp/s/www.vanguardngr.com/2015/05/what-buhari-promised-nigerians/amp/

If you deny the President never ever promised to stabilise the Naira, then I will have to conclude you're an automated spam bot programmed to react to any post in Nairaland when the words APC or Buhari is mentioned!

All leading print and electronic media reported Buhari's electoral promises and with an uncouth, unprofessional sycophant like the information minister, Lai Mohammed, to not deny it is enough proof.

At least these are the morons who claimed rat invaded the president's office in Aso Rock just because Baba needed to recuperate from home.

Political prostitution is a moral and national tradegy!

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Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by new2012: 7:55am On Apr 12, 2018
GavelSlam:


Who is this badly-trained toddler?

What kind of dysfunctional environment bred this uncouth imp?

Spewing badly brewed words doesn't indicate you're older, just how senile you've become.


Both blind and mentally lame you must be!

1 Like 1 Share

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 7:57am On Apr 12, 2018
BadBradley:


https://www.google.com.ng/amp/s/www.thecable.ng/documented-promises-buhari-apc-made-nigerians/amp

https://www.google.com.ng/amp/s/www.vanguardngr.com/2015/05/what-buhari-promised-nigerians/amp/

If you deny the President never ever promised to stabilise the Naira, then I will have to conclude you're an automated spam bot programmed to react to any post in Nairaland when the words APC or Buhari is mentioned!

All leading print and electronic media reported Buhari's electoral promises and with an uncouth, unprofessional sycophant like the information minister to not deny it is enough proof.

At least these are the morons who claimed rat invaded the president's office in Aso Rock just because Baba needs to recuperate from home.

Political prostitution is a moral and national tradegy!

I said quote and not headline.

I can publish that you said your parents are drug addicts but the onus is on me to provide quotes.

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by BadBradley: 8:00am On Apr 12, 2018
GavelSlam:


I said quote and not headline.

I can publish that you said your parents are drug addicts but the onus is on me to provide quotes.

you rejected proof and ask for quote.

At this point it is only trite to ask, are you just a troll or just senile or both?
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Nobody: 8:00am On Apr 12, 2018
niyisky:


So convenient to single out Angola. Why did you overlook Rusia who are next to Nigeria? Its their economy also badly managed? Truth is...Buhari met a battered economy and a dwindling oil fortune.

Is that why Buhari didn't execute any project in his full first tenure
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 8:02am On Apr 12, 2018
BadBradley:
you rejected proof and ask for quote.

At this point it is only trite to ask, are you just a troll or just senile or both?

I gave specifics on what is admissible.

Of course you would dither and prevaricate without an exact quote because you know none exists.

Dare to be different - provide a quote.

1 Like

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Modarun(m): 8:08am On Apr 12, 2018
dapsin999:
Nigeria will Tripple take in Buhari’s second term!

Zombie ideology. Whats our problem with Angolas Kwanza? Did we elect APC for a dick measuring contest with Other African countries? An empty and drowning man will hold onto anything to make himself feel better.

1 Like

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by SillyMods: 8:09am On Apr 12, 2018
grandstar:
Angola's economy has been badly managed from time immemorial especially with socialist spirit.

It was made was by the endemic corruption and looting by the previous government which had been in power for over 30years.

For such a badly run economy to have its currency just worsen past the naira in the depth of its exposes the depth of Buharis economic mismanagement. The Naira shouldn't have lost more than 30% of its value if the economy were left in the hands of experts.

Instead, he with his lamentable understanding of economics imposed economic hubris on the country throwing it into a recession, the first in about 30years.
So, Nigerian economy did not experience endemic corruption and mindless looting especially in the years of the ineffectual buffoon?

If anything, PMB better management is the reason Nigeria was not auctioned on OLX.

Use your God given brain.

3 Likes 1 Share

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by BadBradley: 8:09am On Apr 12, 2018
GavelSlam:


I gave specifics on what is admissible.

Of course you would either and prevaricate without an exact quote because you know none exists.

Dare to be different - provide a quote.
if someone publishes in national dailies that your mom birthed you in a whorehouse in a cloud of father obscurity and your first toys were condom packets and you neither dispel or sought redress then it is true.

Mind, some media houses errornously reported the President said he would make the Naira one with the dollar and the APC and information minister quickly came to debunk the claim in a press release.

https://www.google.com.ng/amp/thenationonlineng.net/apc-never-promised-to-make-naira-equal-to-dollar/amp/

I am asking you why has the presidency not deny claims by all media houses that he promised to improve on the fate of the Naira like they so aptly did on the 1 Naira to 1 dillar misquote?

The link above showed the APC admitting tacitly to this.

Mr. Nairaland N-power recruit.
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by martineverest(m): 8:10am On Apr 12, 2018
Hector09:
Despite the fact that their currency is devalue angola is ahead of Nigeria
that's because angolas population is equal to that of lagos but lagos has bigger economy

1 Like 1 Share

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Akpuoru: 8:10am On Apr 12, 2018
niyisky:


So convenient to single out Angola. Why did you overlook Rusia who are next to Nigeria? Its their economy also badly managed? Truth is...Buhari met a battered economy and a dwindling oil fortune.
Don't argue with people whom pathological hatred has not only skewed their sense of reasoning but are also ignorant and academically bankrupt.

3 Likes 1 Share

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by jimrog: 8:13am On Apr 12, 2018
PrecisionFx:


Is that why Buhari didn't execute any project in his full first tenure

Truth is Buhari has executed more projects than gej in 3yrs. Its no one's problem if u choose to be blind to work bin done on roads across the country....

2 Likes 1 Share

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Nobody: 8:13am On Apr 12, 2018
GavelSlam:


"We have serious challenges. Things have been tough since the beginning of the year and they are likely to remain so till the end of the year," said Finance Minister Ngozi Okonjo-Iweala, adding that more than half of this year's borrowing allowance had already been exhausted."

"As it stands today, most states of the federation have not been able to pay salaries and even the federal government has not paid (April) salary and that is very worrisome," said Imo state Governor Rochas Okorocha.


http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html

Surely, you don't mean NOI.


People are quick to forget that both the former finance minister and the former CBN governor warned that whoever won in 2015 would have it extremely difficult. They knew what was coming. I was never expecting Buhari to perform any magic but I just wanted the Jonathanian band of looters out. Buhari has performed below expectations in security especially, but in the running of the economy they had little to work with. (This isn't to say that they performed the best possible they could've). But how could you explain economics (which I don't even have a full grasp of) to the uneducated man, who only cares about comparing prices of bags of rice?

And the arrogance of Buhari's media handlers just made the whole situation worse.

5 Likes 2 Shares

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by riches4me(m): 8:16am On Apr 12, 2018
GavelSlam:

Please explain how this differs from PDP's 16 year reign?
God bless u. Oya explain, Shebi u Sabi type.

1 Like 1 Share

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 8:17am On Apr 12, 2018
BadBradley:
if someone publishes in national dailies that your mom birthed you in a whorehouse in a cloud of father obscurity and your first toys were condom packets and you neither dispel or sought redress then it is true.

Mind, some media houses errornously reported the President said he would make the Naira one with the dollar and the APC and information minister quickly came to debunk the claim in a press release.

https://www.google.com.ng/amp/thenationonlineng.net/apc-never-promised-to-make-naira-equal-to-dollar/amp/

I am asking you why has the presidency not deny claims by all media houses that he promised to improve on the fate of the Naira like they so aptly did on the 1 Naira to 1 dillar misquote?

The link above showed the APC admitting tacitly to this.

Mr. Nairaland N-power recruit.

So silence is consent where you were raised?


Some of you sef.
Incorrigible.
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by lastempero: 8:21am On Apr 12, 2018
Ibibioesan:
we don't want bahuri's second term bid say Nigerians

https://www.youtube.com/watch?v=pqNQ6ieHg-4

The last guy in d video said he needs another change shocked,please deletebd video before buhari capitalizes on it.
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by BadBradley: 8:22am On Apr 12, 2018
GavelSlam:


So silence is consent where you were raised?


Some of you sef.
Incorrigible.
see as logic dey fail you. What is consent?

If you're misquoted or misrepresented in national dailies and newspapers and leading media houses and you are silent, offering no denial or rebuttal, it is an implicit admission of acceptability of the accusations.

For a sitting government, it is even worse. How does consent come into this?

Better go get a crash course on politicking.

Oh...never mind, for an instance, I forgot this is beyond your paygrade!
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by obailala(m): 8:22am On Apr 12, 2018
grandstar:
Angola's economy has been badly managed from time immemorial especially with socialist spirit.

It was made was by the endemic corruption and looting by the previous government which had been in power for over 30years.

For such a badly run economy to have its currency just worsen past the naira in the depth of its exposes the depth of Buharis economic mismanagement. The Naira shouldn't have lost more than 30% of its value if the economy were left in the hands of experts.

Instead, he with his lamentable understanding of economics imposed economic hubris on the country throwing it into a recession, the first in about 30years.
Nigeria's economy was already nosediving into the abyss before the current govt took over, and that was despite the economic experts who were in charge of things. This recurring argument that Buhari 'single-handedly' threw the economy into crisis is purely a case of politically influenced ignorance.

I'm not sure I understand how the 54.8% loss in value of Naira was calculated, I'm not an economist; but I remember the Naira was valued at about N160 to $1 sometime in mid-2014 just before oil prices began to crash. At the same period, Nigeria's foreign reserves was at about $40billion. Under the hands of economic experts, the reserve was drawn down massively in a desperate bid to save the Naira, as at May 2015, only a dangerously meagre $28.6billion was left but despite these efforts, the Naira nevertheless, crashed from N160 to N230, which by my simple layman's calculation represents a drop in value of 44%. Now may I also add that as at May'15, oil still sold at about $65.

Considering the above 'achievement' by economic experts (i.e. the Naira losing 44% despite relatively higher oil prices and over $10billion injected from the reserves to defend the Naira in 8 months), I hope some people can now see how pointless it is to directly compare the work of 'economic experts' to 'economic novices' who had absolutely nothing to defend the Naira despite oil price dropping to below $30.

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Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by TEYA: 8:26am On Apr 12, 2018
Hector09:
Despite the fact that their currency is devalue angola is ahead of Nigeria
How?
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by GavelSlam: 8:30am On Apr 12, 2018
BadBradley:
see as logic dey fail you. What is consent?

If you're misquoted or misrepresented in national dailies and newspapers and leading media houses and you are silent, offering no denial or rebuttal, it is an implicit admission of acceptability of the accusations.

For a sitting government, it is even worse. How does consent come into this?

Better go get a crash course on politicking.

Oh...never mind, for an instance, I forgot this is beyond your paygrade!


How many denials would you make over your life cycle?

The number of pure fabrications that are made daily, even with the likes of Cambridge Analytica fessing up, implies any time you don't make a rebuttal you are indeed guilty.

Doesn't that sound stupid to you?

In any case, 2015 proved the populace doesn't care much for that and are quite discerning.
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by Awoleesu(m): 8:32am On Apr 12, 2018
kevoh:
Nigeria and Angola are almost the same in the worst performing oil currency metric with just 0.2% difference, before Lai Mohammed and APC zombies find a way to spin this as some sort of achievement for this administration.
You really understand the crap we're in!

Wait and hear Lai brandish his browned dentals in jubilation to this piece of mediocrity... ;(
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by BadBradley: 8:34am On Apr 12, 2018
GavelSlam:


Please explain how this differs from PDP's 16 year reign?
APC and PDP are a band of rogue as far as I'm concerned.

But under PDP Nigeria was the 3rd fastest economy in the world

Highest concentration of growing millionaires in the world with Mexico, Indonesia closely following.

* We because the largest economy in Africa and the only African country in history with a .5 trillion dollar economy.

* We were the 22nd largest economy in the world

* We had the largest concentration of billionaires in Africa.

What has been Buhari's track record so far?

The only people stupider than you are the idiots who liked your ignorant diversionary post.
Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by BadBradley: 8:37am On Apr 12, 2018
GavelSlam:



How many denials would you make over your life cycle?

The number of pure fabrications that are made daily, even with the likes of Cambridge Analytica fessing up, implies any time you don't make a rebuttal you are indeed guilty.

Doesn't that sound stupid to you?

In any case, 2015 proved the populace doesn't care much for that and are quite discerning.
now this low birth is taking us to Cambridge analytical about the leakage of Facebook security and theft of people's data. Tel us what's the correlation between Cambridge analytical and the fact that Buhari in his electoral campaign promise and speech lambasted the former government for making the Naira 230 to a dollar when for nearly 4 years, he did worse?

You must have been born with a brain defect known as cognitive impairment!

1 Like 1 Share

Re: Angola Overtakes Nigeria As Owner Of Most Battered Oil Currency by obailala(m): 8:37am On Apr 12, 2018
BadBradley:
if someone publishes in national dailies that your mom birthed you in a whorehouse in a cloud of father obscurity and your first toys were condom packets and you neither dispel or sought redress then it is true.

Mind, some media houses errornously reported the President said he would make the Naira one with the dollar and the APC and information minister quickly came to debunk the claim in a press release.

https://www.google.com.ng/amp/thenationonlineng.net/apc-never-promised-to-make-naira-equal-to-dollar/amp/

I am asking you why has the presidency not deny claims by all media houses that he promised to improve on the fate of the Naira like they so aptly did on the 1 Naira to 1 dillar misquote?

The link above showed the APC admitting tacitly to this.

Mr. Nairaland N-power recruit.
There are different ways to improve the value of the Naira, 1 way is to pumb in dollars from the foreign reserves into the streets recklessly as was done in the last 20 years; that could 'quickly' retirn the Naira to where it was in early 2015. The second way is to 'gradually' discourage the import culture and encourage exports.

Now if the current govt/CBN wants to apply the quick route which os to pump forex into the market, with the current $47billion reserve and with the current stability in oil price, the CBN can comfortably inject more dollars into the system every month and return the Naira to N200/$1. But to what end exactly?... That will only take Nigerians back to the crazy import culture and would discourage the current boost in agriculture and other exports. The Naira has been overvalued for a long time and on the advice of economic experts, the CBN has intentionally maintained the value at N360 to a dollar for about a year now. Strenghtening the Naira in a 'sustainable' way cannot be done overnight.

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