metroid:


Similar thing would have happened to if Nigerian government got same sanctions true or false?

True, but we got no such sanction and we are still in a mess

Some idíots are saying we are doing better than Venezuela. Listen, if we had those sanctions we will over take Zimbabwe!!

BedLam:
Name the waste under the last govt and the austerity measures under this gov't.
Fyi, this gov't you said is implementing saving mechanism is the one using more than twice the amount the previous gov't used for elections that were laudable.
So much for saving and waste huh?!

Yes yeah... the previous government -even though were theives, but somehow managed to be truthful when it comes to how much money the used for election. Woah* Honest theives!!! Who would have thunk

Aystarz:


Why should we compare ourselves with Venezuela? We are more blessed with natural and human resources, hence we should be doing much better. The comparison here is at best mediocre, my friend.



And sorry, but the Nigerian people do not deserve to suffer like the Venezuelans. We are Nigeria, supposed giants of Africa! How come smaller nations like Rwanda, Ghana and South Africa are have it way better?

First of all, @ emboldened

Please make sure you check facts before making baseless statements without substantiated evidence.

Venezuela not only has more oil reserves than Nigeria, it exports more than Nigeria

Venezuela has nearly 270 billion barrels in proven reserves while Nigerian Nigeria has less than 40 billion in our proven reserves

Secondly, I think you fail to understand that the person you quoted made the comparisons between Venezuela and Nigeria because we have similar economic policies which lead to their crisis.

None of the country you mentioned in Africa export crude oil the quantity Nigeria do, None of these countries are dependent on foreign goods like Nigeria.

Buhari didn't kill our industrial capacity, it was killed by a systematic decay of our major infrastructural facilities over the years.

greyham:


When this administration is over y'all will go crazy. The new name is "under-recovery" subsidy is old school

I am.not a fan of this administration because they keep subsidies.

I wasn't a fan of the previous PDP led administrations for the same reason.

Deregulation works. As seen in the GSM.sector, where Obasanjo's refusal to bring in subsidies so that we could pay less for phone credit is one of the reasons why.our GSM. Sector is not awful

BluntBoy:


More than 50 years have not been enough and we have had 16 years of democracy before this administration came on board and you are expecting a miracle in three years?

Double post

BluntBoy:


More than 50 years have not been enough and we have had 16 years of democracy before this administration came on board and you are expecting a miracle in three years?

No one is asking for a "miracle". At least let there be some signs of improvement but everything is getting worse!

You need 5 decades of decline before your eyes are opened?

Aystarz:


You and I know he doesn't deserve the credit you are giving him here but Sha continue.

Lol

justtoodark:
if you nigerians are not careful,you will look back at today and call it good old days.....

Yes o, they even said Nigeria was paradise under GEJ

Amnesia is a wonderful disease

BedLam:
Name the waste under the last govt and the austerity measures under this gov't.
Fyi, this gov't you said is implementing saving mechanism is the one using more than twice the amount the previous gov't used for elections that were laudable.
So much for saving and waste huh?!

Austerity measures

> reduction and tighted control over our currency i.e. the tight restrictions on the naira on the currency market.

> Increase in import restrictions, which forced the local production of certain crips, which also encouraged local production

> freezing of civil servants wages etc..


Using twice the amount the previous government used for election is simply because of the devaluation of naira, Most of equipment that will used for election will be imported.

greyham:


That's what happens when your economy is attacked by foreigners.

How can't any of you see this?

what attack really? This is a Leadership problem. Rwanda has no tangible resource but see what's happening there. Compare Rwanda to Venezuela now in terms of impact over the last 10 years. We blame others for this and that. Like they are they ones who help us make decision.

greyham:


True, but we got no such sanction and we are still in a mess

Some idíots are saying we are doing better than Venezuela. Listen, if we had those sanctions we will over take Zimbabwe!!

BluntBoy:


More than 50 years have not been enough and we have had 16 years of democracy before this administration came on board and you are expecting a miracle in three years?

post as this is what gets me mad. Time dey go, una go dey talk shit. Nations are advancing faster than you can cope. How long did it take Rwanda to transform into what it is. A country with no tangible resource. Go there and see with your eyes. The Rwanda Genocide happened in 19c4, we had democracy in 1999... but go there and compare. Keep waiting for a change from these set of people that call themselves leaders... In about a decade from now, it will dawn on y'all.

Iamgrey5:
Austerity measures

> reduction and tighted control over our currency i.e. the tight restrictions on the naira on the currency market.

> Increase in import restrictions, which forced the local production of certain crips, which also encouraged local production

> freezing of civil servants wages etc..


Using twice the amount the previous government used for election is simply because of the devaluation of naira, Most of equipment that will used for election will be imported.

LMAO! Now I'm done with you.

Too much dependency on oil ,God help them.sai baba hav tried then!

BedLam:
What happened when Buhari was the head of state. Same recession? Was that oil slump too ? The people are the problem of this country.

Where you even aware of the events in the 1980s at all?

You meant he wrecked a vibrant economy?

BedLam:
LMAO! Now I'm done with you.

Alright! what is austerity measure? Since you understand economics and finance than all of us

majekdom2:
what attack really? This is a Leadership problem. Rwanda has no tangible resource but see what's happening there. Compare Rwanda to Venezuela now in terms of impact over the last 10 years. We blame others for this and that. Like they are they ones who help us make decision.

Okay

Howmon:
What if Nigeria just buy fuel from venezuela

Same thought here. Why can't Venezuela sell their refined petrol to Nigeria, and in exchange we export basic essentials to them. I guess we could ship tons of indomie to them...lol

greyham:


Yes o, they even said Nigeria was paradise under GEJ

Amnesia is a wonderful disease

you mean their collective amnesia....??

i dont understand them...

they wan suffer by fire by force............

olujastro:
Not surprised at this; a combination that happens when a country relies on revenue from commodities like oil and it crashes, and bad governance/corruption/mismanagement is the order of the day.

I always tell people that Nigeria has done very well economically compared to its colleagues that were victims of the same oil price slump; Angola and Venezuela. CNN's Amanpour specifically mentioned these 3 countries in 2014.

Before the 2014/15 oil prices crash:

1 USD = 100 Angolan Kwanza. Today it's = 255. (155% loss of value)
1 USD = N200. Today it's N360. (80% loss of value)
1 USD = 10 Vef. Today it's 120,000 Vef. (1.200,000% loss of value)

It’s easy to see where our currency would have headed if the massive looting was not halted in 2015.

It's time to grow a productive economy built on quality infrastructure and subsequently industrial boom rather than an economic growth that was tied to high oil prices under PDP governments.

Unfortunately many of us do not read about economics and its basis.
That's why many would believe in MMM and other ponzi schemes.
In fact many people abused the CBN for stopping them from "investing" in MMM.

Had the looting continued, Nigeria would have been in great trouble.
For the first time in a long while Nigeria is enjoying infrastructural development .......Kindly check out the rail lines that were completed and the airport moves including the newly completed Abuja wing, dry ports etc.
But we are not satisfied. Its even okay to wish for more, but to wish to replace a government with a worse one just because of primordial sentiments beats my imagination.

The major issue this govt has is poor security.
Before we get it twisted, I hope it is obvious enough now that everyone (christians, muslims, southerners and northerners) is affected.
So, we can bury our sentiments that its the "islamization agenda".

May God help us.

Many youths no get single sense for this country. Unfortunately some of them will happen to be a governor of their state one day.

These modafuvkas are the one that blame buhari for everything even their marital problems.

Buhari government inherited a zero naira economy from the drunken south south president. He blocked all loop holes where money are been shared upandan to give us a promising economy. How is he the cause your woes?


Well, few of us that knows this ll still vote for him to continue his goof work.

majekdom2:
post as this is what gets me mad. Time dey go, una go dey talk shit. Nations are advancing faster than you can cope. How long did it take Rwanda to transform into what it is. A country with no tangible resource. Go there and see with your eyes. The Rwanda Genocide happened in 19c4, we had democracy in 1999... but go there and compare. Keep waiting for a change from these set of people that call themselves leaders... In about a decade from now, it will dawn on y'all.

Ma bro, leave them. Over sabi dey kill us for here. Every small thing them go dey show oversabi.

I been go kigali a few years back. Bro, it was nice and peaceful. All these our oversabi, too do no dey there. People just dey manage their life je je.

Think of it, democracy no dey ensure economic development. What brings about good economy and development is leadership with a vision; be it military, communist, monarchy etc. so long as the leadership have a vision and the spirit to push it through, there will be development. Look at Communist china, monarchist UAE, pseudo-military Thailand, they are developing. Even authoritarian North Korea have mastered nuclear energy.

RuthlessLeader:
Germany also had the same inflation wh where one wheelbarrow of money was needed to buy one loafor of bread. If this happens in nigeria, maybe our zombies will get sense

/
Nigerian looterz are banking their loot abroad in hard currencies. Their immediate families live and go to school abroad. Worst case scenario, they take British Airways out and abandon ship.

/

olujastro:
Not surprised at this; a combination that happens when a country relies on revenue from commodities like oil and it crashes, and bad governance/corruption/mismanagement is the order of the day.

I always tell people that Nigeria has done very well economically compared to its colleagues that were victims of the same oil price slump; Angola and Venezuela. CNN's Amanpour specifically mentioned these 3 countries in 2014.

Before the 2014/15 oil prices crash:

1 USD = 100 Angolan Kwanza. Today it's = 255. (155% loss of value)
1 USD = N200. Today it's N360. (80% loss of value)
1 USD = 10 Vef. Today it's 120,000 Vef. (1.200,000% loss of value)

It’s easy to see where our currency would have headed if the massive looting was not halted in 2015.

It's time to grow a productive economy built on quality infrastructure and subsequently industrial boom rather than an economic growth that was tied to high oil prices under PDP governments.

point of correction

massive looting was not stopped in 2015, it continues till this day


The reason why Venezuela took a big hit is because they are a socialist economy, and the money is no longer there to finance such system

luckily Nigeria is not socialist


if it was, Nigeria would have collapsed long before


What Nigeria needs as you have rightly said is to get productive

And we also need to send the dullard back to daura and get a better president

We also need a govt that will support the private sector.



My condolence to Venezuela


The worst is yet to come

CanineOfJackal:
wow. you blew me away.

I don't know you but I will find you and marry you

Lolzz .

Ugosample:


point of correction

massive looting was not stopped in 2015, it continues till this day


The reason why Venezuela took a big hit is because they are a socialist economy, and the money is no longer there to finance such system

luckily Nigeria is not socialist


if it was, Nigeria would have collapsed long before


What Nigeria needs as you have rightly said is to get productive

And we also need to send the dullard back to daura and get a better president

We also need a govt that will support the private sector.



My condolence to Venezuela


The worst is yet to come

if massive looting was going on under the previous government, which is PDP

Which party or candidate do you suggest instead of the "Dullarino" party?

and some pigs ll not appreciate wat BABA is doing
GOD BLESS BUHARI

At least one thing is cheap, petrol. All oil producing nations sell petrol to its citizens at very cheap prices, heck some countries made it that their citizens are entitled to some litres of free petrol per month. But here our government continues to lie to us, giving us reasons why fuel cannot be cheap. They say we import so petrol will be sold based on the international price of crude. Yet when it fell they started with another excuse why it cannot fall. Yet buhari will claim he is a man of integrity. Rubbish.

Venzuela that Nigerians used their pms prices for comparism.that is why it is bad for a kuntry to depends solely on crude oil.

theoldpretender:


Yeah, I just hope Ramaphosa does.not carry out his land expropriation plans.

Yes, whites have stolen most of the land, but the same white farmers earn lots of forex for the nation. And there aren't enough qualified black farmers to replace them(and I say this with sadness, and as a Pan Africanist)

I'll say this without sentiment

The law of nature says that land you conquer becomes yours


The whites conquered that land, thus it's their own; and they are making good use of it too

South Africa will go the way of Zimbabwe if they implement such a policy


There should be however some form of reforms sha

But not taking land by force.

You can foist black partners into these farms, or even force the farms to incorporate and then list theur shares on the JSE

then black folks can buy as much stake as they can buy.
Tbats another option (the whites fatm owners could still be majority share holder or not depending.

Or they could hold between 30 to 40% stake while extra capital from the shares bought make up the rest


It will be win win for both parties


Unfortunately black men don't have sense in general, and are not emotionally intelligent

But anyways, nothing concern me.

theoldpretender:


Yeah, I just hope Ramaphosa does.not carry out his land expropriation plans.

Yes, whites have stolen most of the land, but the same white farmers earn lots of forex for the nation. And there aren't enough qualified black farmers to replace them(and I say this with sadness, and as a Pan Africanist)

I'll say this without sentiment

The law of nature says that land you conquer becomes yours


The whites conquered that land, thus it's their own; and they are making good use of it too

South Africa will go the way of Zimbabwe if they implement such a policy


There should be however some form of reforms sha

But not taking land by force.

You can foist black partners into these farms, or even force the farms to incorporate and then list theur shares on the JSE

then black folks can buy as much stake as they can buy.
Tbats another option (the whites fatm owners could still be majority share holder or not depending.

Or they could hold between 30 to 40% stake while extra capital from the shares bought make up the rest


It will be win win for both parties


Unfortunately black men don't have sense in general, and are not emotionally intelligent

But anyways, nothing concern me.

olujastro:
Not surprised at this; a combination that happens when a country relies on revenue from commodities like oil and it crashes, and bad governance/corruption/mismanagement is the order of the day.

I always tell people that Nigeria has done very well economically compared to its colleagues that were victims of the same oil price slump; Angola and Venezuela. CNN's Amanpour specifically mentioned these 3 countries in 2014.

Before the 2014/15 oil prices crash:

1 USD = 100 Angolan Kwanza. Today it's = 255. (155% loss of value)
1 USD = N200. Today it's N360. (80% loss of value)
1 USD = 10 Vef. Today it's 120,000 Vef. (1.200,000% loss of value)

It’s easy to see where our currency would have headed if the massive looting was not halted in 2015.

It's time to grow a productive economy built on quality infrastructure and subsequently industrial boom rather than an economic growth that was tied to high oil prices under PDP governments.

Looting was halted in 2015?! Hahahaha