And they keep borrowing money. What are they using all of it for?

Nigeria is disgusting

I have always known that this is what will happen. For some time now, the FG has been having financial difficulties. They have been paying military peesonnels in installments in the name of IPPIS. January last month was something else. The payments came very late.

The FG had the option of either owing the civil sector or the (para) military and they chose the latter because they know that the (para) military unlike the civil sector cannot protest or go on strike. They can only grumble.

The solution has always never been increment of minimum wage but strengthening of the naira.

Does it means the so called economic team are underperforming?

The only thing they could come up with is tax.
Tax when govt is not providing anything.
Politicians, heads of ministries and parastatals are busy stealing in millions.

Kudos to u all.

Na una vote for them so enjoy una next level.

Were is that rotten meat seller

Even Sarkki though repentant still has questions to answer..

NigeriaIsDoomed:
Please never you ever in your life compare the lifeless thing with Abacha. As terrible as Abacha was Nigeria fared well unlike what we have now.
Go and read about the economy of Nigeria under Abacha.
Buhari, has always been a dull and lifeless creature right from birth.
How he was able to scam foolish Nigerians to come back to power remains a mystery till date.

The economy under Abacha was just as bad as it is now....and yes, I was there.

Fuel crisis was there, problems with inflation, and the oil price slump post Gulf war affected our economy badly.

And we had the same old dependency on oil....and the same old rising debt, and deficit budgets.

Things weren't good under Abacha. He even did what Buhari is doing now re fuel prices...increase the price to a point where it makes sense for the government to subside fuel.

And Abacha was a maximum dictator. Life was very very uncomfortable.

QuickStandard:

What exactly can we say is working in this country?

From security
Power
Infrastructure
Education
Hunger
Crime
Cluelessness
Corruption

And many too numerous to mention....

It is well

hunger is working. receive it

Fake news

Missionaire:
I have always known that this is what will happen. For some time now, the FG has been having financial difficulties. They have been paying military peesonnels in installments in the name of IPPIS. January last month was something else. The payments came very late.

The FG had the option of either owing the civil sector or the (para) military and they chose the latter because they know that the (para) military unlike the civil sector cannot protest or go on strike. They can only grumble.

The solution has always never been increment of minimum wage but strengthening of the naira.

How will they strengthen the naira when we are consumer country?
The only thing cushioning us has been crude oil sale.
Crude oil market has been projecting downward since.
The next thing that will help naira is foreign companies doing business with us.
Rather, the ones we have are running away.
And there has been massive capital flight. No sane country will want that to happen but Buhari and his handlers thought that free oil money will continue to flow.

And on top of that, they are still borrowing.

Omooba77:


Nigeria will need to devalue, this is just the pure truth....

Make Devalue or Value quick na , the hungry too much ... Insecurity self they there, as the life don tire many , nobody send again... Dem kpai 1000, police go say na 100 people ...what else ... I remembered what my dad told me in 2014, that PMB is a BADLUCK TO NIGERIA, that no matter how good any police is, it will never work under PMB... I now believe him 100 %

Okuda:


hunger is working. receive it

Hahahahahaha!!

Anyways, I can't receive hunger, cos I serve the Almighty God of all sufficiency.

Also I am a hustler, and my God has promised me he will bless the works of my hand. So don't border about me, I and my family are doing just fine.

God bless you

Missionaire:
I have always known that this is what will happen. For some time now, the FG has been having financial difficulties. They have been paying military peesonnels in installments in the name of IPPIS. January last month was something else. The payments came very late.

The FG had the option of either owing the civil sector or the (para) military and they chose the latter because they know that the (para) military unlike the civil sector cannot protest or go on strike. They can only grumble.

The solution has always never been increment of minimum wage but strengthening of the naira.

And when I said something similar at a state labour meeting during the minimum wage bruhaha, those comrades said I should shut up

You see ehn..that minimum wage is a real trap for what's to come, vat increase, fuel price increase & devaluation of d naira

For those asking why we are borrowing (and yes, this has been a problem long before Buhari...)

For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty

Remember, our oil dependency did not start overnight...it began in the 1970's when oil prices skyrocketed in the wake of the Yom Kippur War (1973).In 1982, the first oil price drop happened, and continued till 1991-2,then dropped again till 2007...when it rose again till 2014, when it dropped.

We were here before in the 1980's .Times were tough then. Comapnies and even banks collapsed. And again in the 1990's AND even now.

SORCE

His scamming technique is to claim Mr Integrity and Islamic fanatism.

NigeriaIsDoomed:
Please never you ever in your life compare the lifeless thing with Abacha. As terrible as Abacha was Nigeria fared well unlike what we have now.
Go and read about the economy of Nigeria under Abacha.
Buhari, has always been a dull and lifeless creature right from birth.
How he was able to scam foolish Nigerians to come back to power remains a mystery till date.


Abacha's achievements:On the economic end, Nigeria attained unprecedented economic achievements with him, with an overwhelming increase in the country's foreign exchange reserves from $494 million in 1993 to $9.6 billion by the middle of 1997, and a reduction of the external debt of Nigeria from $36 billion in 1993 to $27 billion by 1997. He halted all the controversial privatization programmes initiated by Babangida his predecessor and reduced the inflation rate from the 54 percent he inherited to 8.5 percent by 1998, while oil was sold at an average of $15 per barrel.
He increased fuel price just once in his four-and-a-half years in office and set up the Petroleum (Special) Trust Fund, which was widely acknowledged to have performed well in infrastructural development and intervention programmes in education, health and water.

FLYFIRE:

The original confirmed PresiDEBT

Tot the image was fake. I have to recheck

Gnaeusmagnus:


The economy under Abacha was just as bad as it is now....and yes, I was there.

Fuel crisis was there, problems with inflation, and the oil price slump post Gulf war affected our economy badly.

And we had the same old dependency on oil....and the same old rising debt, and deficit budgets.

Things weren't good under Abacha. He even did what Buhari is doing now re fuel prices...increase the price to a point where it makes sense for the government to subside fuel.

And Abacha was a maximum dictator. Life was very very uncomfortable.

No you are wrong, Abacha achieved a lot even better most of our heads of state and president alive and dead.

Gnaeusmagnus:


The economy under Abacha was just as bad as it is now....and yes, I was there.

Fuel crisis was there, problems with inflation, and the oil price slump post Gulf war affected our economy badly.

And we had the same old dependency on oil....and the same old rising debt, and deficit budgets.

Things weren't good under Abacha. He even did what Buhari is doing now re fuel prices...increase the price to a point where it makes sense for the government to subside fuel.

And Abacha was a maximum dictator. Life was very very uncomfortable.

No I disagree with you, Abacha achieved a lot and even performed better than most of our heads of state and presidents alive and dead.
Below are Abacha his achievements:
On the economic end, Nigeria attained unprecedented economic achievements with him, with an overwhelming increase in the country's foreign exchange reserves from $494 million in 1993 to $9.6 billion by the middle of 1997, and a reduction of the external debt of Nigeria from $36 billion in 1993 to $27 billion by 1997. He halted all the controversial privatization programmes initiated by Babangida his predecessor and reduced the inflation rate from the 54 percent he inherited to 8.5 percent by 1998, while oil was sold at an average of $15 per barrel.
He increased fuel price just once in his four-and-a-half years in office and set up the Petroleum (Special) Trust Fund, which was widely acknowledged to have performed well in infrastructural development and intervention programmes in education, health and water.

NigeriaIsDoomed:
No I disagree with you, Abacha achieved a lot and even performed better than most of our heads of state and presidents alive and dead.
Below are Abacha his achievements:
On the economic end, Nigeria attained unprecedented economic achievements with him, with an overwhelming increase in the country's foreign exchange reserves from $494 million in 1993 to $9.6 billion by the middle of 1997, and a reduction of the external debt of Nigeria from $36 billion in 1993 to $27 billion by 1997. He halted all the controversial privatization programmes initiated by Babangida his predecessor and reduced the inflation rate from the 54 percent he inherited to 8.5 percent by 1998, while oil was sold at an average of $15 per barrel.
He increased fuel price just once in his four-and-a-half years in office and set up the Petroleum (Special) Trust Fund, which was widely acknowledged to have performed well in infrastructural development and intervention programmes in education, health and water.

And the economy remained oil dependent....which is why I don't rate him, or any of our leaders high at all.

Because the truth is, if we had taken the hard road to industrial development, we would have had revenues above $100billion by now.

Until we get off our dependency on oil, we won't have true economic prosperity. Our economy is suffering now because too much reliance on oil.

And neither Bubu nor Abacha did nothing about it.

QuickStandard:


Are you for real?
If yes, forward your account number to me on Whatsapp.

Don't think I didn't see your account details you posted. I just want to be sure you really need the 1k

You can see my number on my signature

I've promised to give something back to Nairalanders on every work I embark on through Nairaland...you have a good and together with our good heart, we can save the world..

NigeriaIsDoomed:
No you are wrong, Abacha achieved a lot even better most of our heads of state and president alive and dead.

You see ehn...aside his dictatorship behaviours, Abacha actually loved Nigeria. But this our current government seem to be the son of Queen Elizabeth, he can't spend a month without a visit.


For example I know am very incompetent at alot of things, so I pay people who are extremely good at what i suck at to the job. I just don't know why d government can't do dsame

37.531 billion, that is an estimate of what bezos wife got in their divorce... nigeria no get moni ooo... full country loose ronaldo networth (400m) the thing turn news.

MrStan11:
Its just a matter of time before una go see the damages Buhari has caused.

When people shout that Buhari grew our foreign reserve I laugh in Swahili.


All things being equal we don't have anything in our reserve.
He just uses it as a collateral to borrow money.

If you have an investment policy with an insurance company worth #5000 and you go bank to borrow #4500 using you policy document as collateral.


Let me ask, How much do you worth?



Answer the question and understand where we re going.

dat should b a minus cos u have to pay interest

FLYFIRE:

The original confirmed PresiDEBT

Mazi Nnamdi KANU said
By the time bụbu is done..
Somalia go better pass naija.
It is happening already before our very eyes.

Lmao! Ndi Yoruba see una president hand work.

martooski:


Tot the image was fake. I have to recheck

God WILL CONTINUE TO DISGRACE them.

perhaps they are using it to fight insecurity and boko haram in the land!

SpecialAgent:


You see ehn...aside his dictatorship behaviours, Abacha actually loved Nigeria. But this our current government seem to be the son of Queen Elizabeth, he can't spend a month without a visit.


For example I know am very incompetent at alot of things, so I pay people who are extremely good at what i suck at to the job. I just don't know why d government can't do dsame

The present government's cluelessness is second to none. Sometimes, I still blame the previous government for not doing the right thing, Buhari would not have been considered an option if the previous government had lived up to expectations.
The problem now is that buhari has completely destroyed Nigeria but some foolish Nigerians cannot see it.
The harm that has been done to nigeria by buhari can never be reversed and will haunt Nigeria forever.
Some of us warned them but because of the fake pastor and aso errand boy they stupidly brought calamity upon the whole country in the quest for a solution.

vegetable is working

NigeriaIsDoomed:
The present government's cluelessness is second to none. Sometimes, I still blame the previous government for not doing the right thing, Buhari would not have been considered an option if the previous government had lived up to expectations.
The problem now is that buhari has completely destroyed Nigeria but some foolish Nigerians cannot see it.
The harm that has been done to nigeria by buhari can never be reversed and will haunt Nigeria forever.
Some of us warned them but because of the fake pastor and aso errand boy they stupidly brought calamity upon the whole country in the quest for a solution.

Trust me, even is staunchest supporters up north no dey send am anymore. The problem with Nigeria is, our leaders aren't looking for those political positions to serve but to "chop free money" .

Buhari is a disaster