El Buhari

Bad business for that Dead Rat Seller Guy

Last last this Corona na scam.

This country is trying to make our little salary to be worthless than tissue paper.

Tufiakwa


Mono-economy country would always turn out to be like this

Ok

Economic recession in full force.Brace for impact people.

Buhari had the singular honour of bringing Nigeria into multiple strings of economic recession. The truth is under this useles government of no direction and proudly supported by useful idiots and sophisticated morons, Nigeria had never exited recession. This is the truth.

Ok

Bad news after bad news!

It is well. There CBN should hands off the foreign exchange completely. Their actions seems to distort the market more.

Presidency is talking about survival, you talking Naira.

You think PMB and HoD cabal will not depreciate it to ₦1000 to 1dollar if that will make the duo survive this scourge.



Where is Nwamaikpe sef...let him come and brighten and lighten up moods

It was bound to happen... This should not surprise anyone!

But every country have its own problems na, even America. Why can't dollar be depreciating to naira.

I wish to comment but all the comments wey them Don comment for nairaland no change the price of sugar sev....

So I need any AEROBIC MACHINE (treadmill, body rider e.t.c ) for exercise incase anyone want to dispose it...

Whether de doller na 500 naira. A provisional store seller will still sell things for 5 naira profit.#pathetic

Nigeria needs leadership now more than ever

We need intelligent leaders, with very high IQs and love for their country and states

Not leaders that will allocate cars to themselves, when other countries are scrambling to invent makeshift ventilators due to low supply

Not leaders that will abandon their own countries hospital for more than two months in London

God will definitely see all of us through these trying times, but let us not mock God by remaining foolish in our decisions.

With the way things are going right now, even if we elect three president in 2023 to work along side with each other I don't think they can save Nigeria

Haa.. Too bad abeg

And bubu is no where to be found

tomakint:
Buhari had the singular honour of bringing Nigeria into multiple strings of economic recession. The truth is under this useles government of no direction and proudly supported by useful idiots and sophisticated morons, Nigeria had never exited recession. This is the truth.

1.Buhari did not cause this current recession or the one that happened on his watch in 1983-5

2.The recession that happened under Buhari in 1983-5 started when oil prices fell in 1982...which even prompted Shagari to bring in austerity programmes by 1983.

3.Likewise the recession under this current admin started in April 2014...when oil prices collapsed due to the Saudis trying to outproduce American shale oil producers. By January 2015...NOI was warning that whoever won the election, there would be economic crisis.

4.The truth is, our economy has been vulnerable since independence. The economy depends on revenues from whatever raw materials we sell , whose prices we do not control. In the 1960's it was agricultural produce. By the 1980's, oil was taking over.

5.Where Buhari and others make mistakes is that they spend too much controlling prices on vital sectors like petrol and power. This limits the amount of investment that can be poured into both sectors, leading to job lossess and financial losses...especially from subsides which is money down a bottomless pit.

6.Because of our large population, we need oil at $139 per barrel and above, since 2017, up from $120 per barrel since 2012....to run a balanced budget.(despite our cost of production being below 30 dollars). Since 2010...we haven't had oil prices that high. That's why we are taking debts via borrowing...the money we are earning is not enough and has never been enough for our needs.

Oil is at $25. We need it at $140. We are losing at least $115 now per barrel of oil sold. (More information on my figures here)

Also due to the low oil prices, we are losing an average of $35.76million or N13.1 billion per day in accruable revenue

7. The way froward eventually...remove subsides , allow power and petrol to be run at a profit....which brings in investment and jobs. We did this for the GSM sector. Why can't we do this for power, petrol?? To long term help us transition into a producer economy...which produces goods whose prices we can control.

Modified

To anyone who thinks I am defending the current administration, see my points 5 and 7 and reflect on them. Also look at point number 6 and them make the assumption....we need to change our economic paradigm.

There is nothing to defend about this APC government. It is obvious they have failed. However, my problem with most critics of this administration is that they criticse the effects...they don't think about the cause of the effects. If we can think about the cause of the effects, we may be on the way out of this economic crisis.

The problem is, the solution involves some hard decisions. Removing subsides...and so on. The problem also is, APC, like PDP exisits to share the national cake, not to think about how the cake is baked, or how we assemble the ingredients.

We're talking Corona you're talking dollar to naira

WE NEVER SEE ANYTHING THIS IS JUST THE BEGINNING

I'm buying Bitcoin at sweet rates

End time is here!

It has happen



Next it will rise to 1000 naira in the coming day months

This is tough time for us
May Almighty ease our affairs
Meanwhile, those amused with this development (joking out of this), seems like you stays outside Nigeria right? If you don't, you are just making fun of yourselves. Las last, we'll all feel the impact.

Hahaha Sai Buhari, Sai Baba till 2023

This is bad for business

G-boys Right now...

big lie

princeade86:
But every country have its own problems na, even America. Why can't dollar be depreciating to naira.

. Dollar dey vex na. It doesn’t “appreciate” any local currency