PHILipu1:

No,PDP would have got us to this level when crude oil price crashed.

We should thank God for Buhari and Osinbanjo

Fvck the pedophile, Fvck Osunbade, fvck APC, Fvck the BMC, Fvck the 30000 naira stipends, and Fvck you too!

Socialism never helped any country

OkaNaUbe:
Is like I will go to Venezuela on my next vacation

Apart from Flight expenses, every other thing will be damn cheap.

Things are scarce. There was a period in 2016 where there was no toilet roll in the entire country. Parents withdraw their kids from their free schools to stand in line to buy essential necessities. Then don't forget there's virtually no security. Gang members even steal free foodstuff sent to public schools for children. They even raid government establishments. Caracas is by some estimates the current murder capital of the world. And that's the capital of the country.

Then the price control regime makes things worse. Like the nonsense Buhari wanted to do during the recession where he intended to fix prices for goods and force traders to sell at that price. Except that never works anywhere, so most things are mainly in the black market (a lot like our recent dollar crisis). You can't just walk into a mall and shop for stuff.

We are lucky the oil price picked up when it did, if not, that id*ot in Aso Rock would have sent us tumbling down.

-Lord

MartinCorridon:
You would need a truckload just to pay at a brothel

You mean people go still de go brothel

Anyway na transfer go sure pass

Venezuela Sha...thats what you get when you elect a leader based on sentiment and not capacity to lead.
#bcosOfHugoChaves

dometome:
Fvck the pedophile, Fvck Osunbade, fvck APC, Fvck the BMC, Fvck the 30000 naira stipends, and Fvck you too!

Brainwashed IPOB terrorist.

beatmonster:


mumu

Goat

scully95:
This as a result of negligence on the side of Venezuelans. They ought to have followed Nigerian shoes long go in launching counter economic war by ditching the dollar. https://www.nairaland.com/4678873/nigeria-iran-nations-begin-ditching

The Crypto currency that was intruduced recently was also sanctioned by the same dieing empire.. This they ought to have done since.. Run to China, do currency swap or even turn to accepting Yuan, Euro at local level while ditching dollar. They should change to good old gold system. Sell anything they have in exchange for real gold. This is fighting back big time. They should prepare for a real shooting war cos that is the empire's red line for regime change and a shooting war.


The EMpire's demise is near, it's only weapon left will soon die a natural death and will have nothing to fight again or terrorize the Economy of other countries.
https://www.nairaland.com/4684275/sanctions-sanctions-sanctions-final-demise

@bolded
That was Ghadaffi's undoing. For daring to suggest something similar the above to the AU, his end began in small steps until it was masked with rebellion. He implored the AU member countries to ditch the dollar and return to a trade by barter system where you trade with whatever resources you had in exchange for your trading partner's own. We all know how that ended.

PHILipu1:

Goat

Ewu Gambia

Dudeweedlmao:
This would have been Nigeria's case if not for Buhari.

I knew one dimwit will come out to say this

bankylan:



See misinformation. What dollar are u ditching. Talk to bankers who treat Form M and Form A every week. If at all Yuan us used for all transactions with China, same factors that drove dollars high relative to naira will drive yuan up.......Inflation rate is not a direct effects of Fx rate.

no mind that guy jare

emmanuelpopson:
This is what happen when a country depends on only one source of income for its foreign exchange.. OIL..
they were smiling to the banks when oil prices were at its peak and they never save for these scourge of famine and economic recesssion...
Nigeria should learn from them as once buoyant economy may swing down anytime if the right things aren't done... build infrastructures,develop technologies, innovate and create an enabling environment for start ups...

naa

what finished Venezuela was their socialist policies

Miyachi:

All those solutions you mentioned will not have saved them from the impending doom at best it would have slowed it a bit and at worst it would have hit harder.
They created their cryptocurrency (it's still a currency, pseudo even though), but what guarantees it value? Their economy? Don't forget that a currency's value in an open market is a rough estimation of the strength of the economy of that country.
Growth is stagnant because their economy is largely dependent on oil (paradox of plenty) and their oil wells are running dry because of lack of maintenance. The little they can produce is used to pay of debts to China, I think, and one other country (or countries).
In fact, Venezuela is where you don't wan't to be as a nation. There's no quick fix. Popular economics wouldn't fix it.

Very well said.

ogbonti:
This is a lesson for SOWORE, who is busy touting N100k minimum wage. It's not about the quantity or amount you pay as wages but the purchasing power of that currency you are paying the wages with. I know his disciples are waiting for me to give him ideas, lai lai, I paid a lot to get my US MBA, I won't offer free advise relating to these issues here on naira land. If you need consultancy services, PM me!

no mind that guy

as if udoji wage policy has not wounded this country before.

Increasing wages astronomically like that will Bleep shit up for us all

beatmonster:
The poster above me (Dudeweedlmao) is a weed smoker. No wonder he is spiting this bulls**t

Buhari is determined to get us to this level.

#Neveragain shall Nigerians vote for a man who has no WAEC certificate, a man that has not run any successful business, an ethnic bigot and religion fanatic

had buhari given in to ipob demands their case would have been even worse than vene

benson4u:
And we say Nigerian currency is worst Well I rest my case.

was Nigeria not better. Or do we need to be drooping constantly?

beatmonster:


Ewu Gambia

Goat

mrjaydee:
Wow...the currency is dead. imagine if I go der with about $10k and buy PMS (petrol) and have it shipped to Nigeria? Or go there and buy cars and export them to naija.

Their money was attacked by the big Bank. They do that if a country is in opposition to their imperial agenda. Recall Hugo Chávez their former president.

Now they are attacking Iran economy. Nigeria plays hide and seek to avoid damage control. Otherwise you would have to load 30bags of Ghana-Must-Go by now to buy pure water

BruncleZuma:


The Bolivar is the currency...the country is Venezuela and their crypto backed by petroleum was just ill-advised madness.

I would really appreciate it if you would educate me on cryptocurrency and its potentials. Is it real money? How does it work?

BruncleZuma:


The Bolivar is the currency...the country is Venezuela and their crypto backed by petroleum was just ill-advised madness.

I would really appreciate it if you would educate me on cryptocurrency and its potentials. Is it real money? How does it work?

LordAdam16:


Things are scarce. There was a period in 2016 where there was no toilet roll in the entire country. Parents withdraw their kids from their free schools to stand in line to buy essential necessities. Then don't forget there's virtually no security. Gang members even steal free foodstuff sent to public schools for children. They even raid government establishments. Caracas is by some estimates the current murder capital of the world. And that's the capital of the country.

Then the price control regime makes things worse. Like the nonsense Buhari wanted to do during the recession where he intended to fix prices for goods and force traders to sell at that price. Except that never works anywhere, so most things are mainly in the black market (a lot like our recent dollar crisis). You can't just walk into a mall and shop for stuff.

We are lucky the oil price picked up when it did, if not, that id*ot in Aso Rock would have sent us tumbling down.

-Lord

that's what this sai babarian fools don't understand

Buhari was this close to ruining this country


Have we forgotten so quickly how 2016 was?

Empiree:
Their money was attacked by the big Bank. They do that if a country is in opposition to their imperial agenda. Recall Hugo Chávez their former president.

Now they are attacking Iran economy. Nigeria plays hide and seek to avoid damage control. Otherwise you would have to load 30bags of Ghana-Must-Go by now to buy pure water

when you know powers that be can ruin your country

You have to play safe

That's what stupid leaders don't get


Until your legs are very strong

don't go into all out confrontation with the U.S.



When you are in the league of China/Iran/Russia


Then you can try

PHILipu1:

Brainwashed IPOB terrorist.

Yes a terrorist that is yet to even hurt a fly, sophisticated m*r0n

Oma se o

Don't laugh at them. Their currency was at some point ago just at the same level where ours is today. If care is not taken we may find ourselves going down the same path. Compare the value of our naira to other African currencies and you will see that for a supposed giant of Africa we are doing badly. In fact we are becoming a butt of jokes for some more advanced African countries.

LordAdam16:


Bunch of self gratifying nonsense trimmed ..

I rest my case

wink2015:


NIGERIA IS DUE FOR RESTRUCTURING.

IF NOT THE COUNTRY IS ZOOMING TO ITS DOOM!

NIGERIA CASE WILL BE WORST THAN VENEZUELA, AN OIL PRODUCING COUNTRY.

Thank you for expressing your deferring opinion in a way that shows education and respect.

EgunMogaji:
Nairalanders that love putting Nigeria down as the worst country in the world, see all of una life outside

Nigeria is actually one of the greatest countries on earth. She’s not perfect but she’s not totally rotten.

At least you admit it's partly rotten though not totally rotten. Rot is progressive unless arrested by decisive action

Iamzik:


At least you admit it's partly rotten though not totally rotten. Rot is progressive unless arrested by decisive action

And Buhari has arrested it. We now need to build on it.

Those of us that don’t live in Nigeria are able to see vast improvements on each trip.

Let’s count our blessings.

Ugosample:

naa
what finished Venezuela was their socialist policies

are they the only socialist economy

Ugosample:


when you know powers that be can ruin your country

You have to play safe

That's what stupid leaders don't get


Until your legs are very strong

don't go into all out confrontation with the U.S.



When you are in the league of China/Iran/Russia


Then you can try

True

emmanuelpopson:


are they the only socialist economy

at the moment, YES!
very very few countries if they still exist practice the type of socialism that Venezuela practiced

They are lazy, unproductive etc because the oil money was pouring in left and right and they were subsidizing everything

kerry57:
America wicked die. See wetin they don turn Bolivia into just because Trump maduro disagreements. The masses are suffering it. Not fair from my own view.

Venezuela