tiegahpor:


M*ORUN!

How do you inherit stuff that's GENERATIONAL, according to you??

When I left the University,I swear,the best...infact,when I was done with my masters in the UK,I can swear you were in primary school, FOOOOL...

See WRETCHED cretin talking..

Peasant arse wipe!

Age no be sense oo.
If you do your masters for UK nko?
Oga stop wailing jor.... even with your UK made masters, oga you're still dumb.

Thinktwicemybro:

Oga bread is #500 pure water is #250, be suffering and smiling there don't wake up.

It saddens me to always seem to defend the present government. To me buhari is even more useless than Jonathan. At least with Jonathan we had a president who we can talk to, insult and most times he responds. In Buhari we have an absentee or visiting presidents. He shows once in a blue moon and never address or talk to Nigerians directly. Its always the presidency that talks to Nigerians. I don't even think he still resume to his official office in aso rock to actually do some work.
Having said that, it's disingenuous to suggest that Buhari is responsible for Nigeria's inflation rate. Nigeria,s inflation rate had hovered between 9% to 12% per annum for decades. And unless we start producing more goods for the same quantity of money in circulation, inflation will continue to accelerate. We need to simply reduced our over dependence on oil and our insane taste for imported goods and services.

Bread will continue to rise because we don't grow wheat or produce flour. So the price of bread (which is expected to double within the next few weeks) will be determined by naira exchange rate and international price of wheat.

As per water. That is in the domain of the state governments. You don't expect the FG to supply you water. As long as state governments abdicate their responsibility to provide pipe water and the cost of imported material and machinery for making pure water continue to increase, a bag of pure water will reach N500.

wirinet:


Having said that, it's disingenuous to suggest that Buhari is responsible for Nigeria's inflation rate. Nigeria,s inflation rate had hovered between 9% to 12% per annum for decades. And unless we start producing more goods for the same quantity of money in circulation, inflation will continue to accelerate. We need to simply reduced our over dependence on oil and our insane taste for imported goods and services.

I dont know what the NBS and other statisticians may have in their books but the street knows as well as I do that there has been a marked and significant change in cost of living - a dramatic and beastly change in fact - since 2015 - same thing also goes for the exchange rate which has a knock-on effect on every other thing when you live in an import dependent economy and yes, the President is responsible for that because managing the economy is part of his job description: the naira could have been better defended.

kolaaderin:
its never a time of plenty. Buhari was just unfortunate with the recession. He was handed an economy nose diving into recession, oil price drops heavily and then just at the point of recovery, the world shot down on corona virus again. Against all odd, economic diversification is ongoing and of course people were seriously hit with the Crisis. Not until few weeks ago that the oil price is returning to normal and its so because of the Russian war, this will also comes with many other negative consequences on other economic counters as the increase in oil price is not a natural one but induced due to the war ongoing.

And all the Abacha loot went to what again self

DeepSight:


I dont know what the NBS and other statisticians may have in their books but the street knows as well as I do that there has been a marked and significant change in cost of living - a dramatic and beastly change in fact - since 2015 - same thing also goes for the exchange rate which has a knock-on effect on every other thing when you live in an import dependent economy and yes, the President is responsible for that because managing the economy is part of his job description: the naira could have been better defended.

Believe me the governments had been defending the naira in wrong way for decades and it will eventually come crashing down.

How does the Nigeria governments (and when I say governments I mean all previous governments from IBB) defend the naira. They defend the naira by CBN pumping more dollars into the market. Where do CBN get the dollars? From sales of crude oil. So what do you expect would happen if and when oil prices crash, we are unable to sell our oil or our reserves run out. (I shudder to think how we will survive if oil runs out or a WW3 break out and international shipping is suspended).

wirinet:


Believe me the governments had been defending the naira in wrong way for decades and it will eventually come crashing down.

How does the Nigeria governments (and when I say governments I mean all previous governments from IBB) defend the naira. They defend the naira by CBN pumping more dollars into the market. Where do CBN get the dollars? From sales of crude oil. So what do you expect would happen if and when oil prices crash, we are unable to sell our oil or our reserves run out. (I shudder to think how we will survive if oil runs out or a WW3 break out and international shipping is suspended).

They could have done a better job on it: the attitude seems to have been that it's best to allow the naira to fall. It's not best because the implications and complex consequences are too substantial.

DeepSight:


They could have done a better job on it: the attitude seems to have been that it's best to allow the naira to fall. It's not best because the implications and complex consequences are too substantial.

How could they have done it better given our dwindling crude revenue due to fluctuating prices and falling production levels?

To float or not to float (the naira). That is the question.

What suggestions do you proffer?

wirinet:

It saddens me to always seem to defend the present government. To me buhari is even more useless than Jonathan. At least with Jonathan we had a president who we can talk to, insult and most times he responds. In Buhari we have an absentee or visiting presidents. He shows once in a blue moon and never address or talk to Nigerians directly. Its always the presidency that talks to Nigerians. I don't even think he still resume to his official office in aso rock to actually do some work.
Having said that, it's disingenuous to suggest that Buhari is responsible for Nigeria's inflation rate. Nigeria,s inflation rate had hovered between 9% to 12% per annum for decades. And unless we start producing more goods for the same quantity of money in circulation, inflation will continue to accelerate. We need to simply reduced our over dependence on oil and our insane taste for imported goods and services.

Bread will continue to rise because we don't grow wheat or produce flour. So the price of bread (which is expected to double within the next few weeks) will be determined by naira exchange rate and international price of wheat.

As per water. That is in the domain of the state governments. You don't expect the FG to supply you water. As long as state governments abdicate their responsibility to provide pipe water and the cost of imported material and machinery for making pure water continue to increase, a bag of pure water will reach N500.

You have some valid points but I disagree with you on the perannum inflation rate.
I bought bag of cement for 2,500 in 2012, 2014 and 2015. But in 2020 alone I bought it for 3000 to 4700. That's failure of government.
Truth is they promised heaven and Earth but have not done anything to improve the lives of citizens.

Thinktwicemybro:

You have some valid points but I disagree with you on the perannum inflation rate.
I bought bag of cement for 2,500 in 2012, 2014 and 2015. But in 2020 alone I bought it for 3000 to 4700. That's failure of government.
Truth is they promised heaven and Earth but have not done anything to improve the lives of citizens.

Inflation is a universal phenomen in an economy with increasing population but stagnated or reducing production.
Let's take nigeria for example. Our population rate is 2.5%. That means for an estimate of 200 million our population increases by 5 million every year (and I am not even compounding yet). In 5 years it would have increased by over 30 million.
Meanwhile the revenue to cater for these increasing population remains stagnant at best. So what do you think would happen to inflation?

A bag of cement at N2,500 under 12% inflation rate would be N4,400 after 5 years. Remember inflation rate is compounded.

wirinet:


Inflation is a universal phenomen in an economy with increasing population but stagnated or reducing production.
Let's take nigeria for example. Our population rate is 2.5%. That means for an estimate of 200 million our population increases by 5 million every year (and I am not even compounding yet). In 5 years it would have increased by over 30 million.
Meanwhile the revenue to cater for these increasing population remains stagnant at best. So what do you think would happen to inflation?

A bag of cement at N2,500 under 12% inflation rate would be N4,400 after 5 years. Remember inflation rate is compounded.

I understand. But we have not had it this bad. I mean, no plans to even look inward and manufacture. No regard for education hence our graduates are not productive.

wirinet:


Inflation is a universal phenomen in an economy with increasing population but stagnated or reducing production.
Let's take nigeria for example. Our population rate is 2.5%. That means for an estimate of 200 million our population increases by 5 million every year (and I am not even compounding yet). In 5 years it would have increased by over 30 million.
Meanwhile the revenue to cater for these increasing population remains stagnant at best. So what do you think would happen to inflation?

A bag of cement at N2,500 under 12% inflation rate would be N4,400 after 5 years. Remember inflation rate is compounded.

The problem I have with what you have been saying is that you have been trying to dismiss the sort of inflation we have experienced from the onset of this administration as nothing out of the ordinary. That, with respect is simply not the case: the change since 2015 has been nothing short of extraordinary. And there are definite policies of this administration which account for it.

Thinktwicemybro:

I understand. But we have not had it this bad. I mean, no plans to even look inward and manufacture. No regard for education hence our graduates are not productive.

My friend Wirinet is trying to say that what we are experiencing is normal. It is not. It is extreme: and the extremity of the present hardship has it roots in several bad policies of this administration.

Thinktwicemybro:

You have some valid points but I disagree with you on the perannum inflation rate.
I bought bag of cement for 2,500 in 2012, 2014 and 2015. But in 2020 alone I bought it for 3000 to 4700. That's failure of government.
Truth is they promised heaven and Earth but have not done anything to improve the lives of citizens.

As I said previously to Wirinet, in this matter I will not listen to what any statistician throws up. The street knows better.

wirinet:

How could they have done it better given our dwindling crude revenue due to fluctuating prices and falling production levels?

To float or not to float (the naira). That is the question.

What suggestions do you proffer?

I wrote a piece on the essentials of this matter when it first started in 2015/16. Been trying to find it as that would make my job easier. I will be back to address this.

Thinktwicemybro:

I understand. But we have not had it this bad. I mean, no plans to even look inward and manufacture. No regard for education hence our graduates are not productive.

Gbam. Q.E.D.
Visionless leaders from top to bottom

DeepSight:


The problem I have with what you have been saying is that you have been trying to dismiss the sort of inflation we have experienced from the onset of this administration as nothing out of the ordinary. That, with respect is simply not the case: the change since 2015 has been nothing short of extraordinary. And there are definite policies of this administration which account for it.

My bother I try yo see the forest for the trees. That's the approach I take to all issues. Just like the Ukraine conflict (where I have made enemies both offline and online), I try to look at the bigger picture. Just like in forex trading you have to do a historical (top down) analysis to understand the present.

I have explained time and time again that Nigeria is driving on auto pilot. The economy and every other thing follows the direction of the global wind. Ironically the only leaders that thought of a developmental agenda were Abacha with his vision 2020 and Obasanjo with his economic team. Even though the recommendations were never implemented, at least the plan was put on paper. This is the reason I get annoyed when people start campaigning and fighting for Tinubu, Atiku, et al. What is their developmental agenda for the country, what time frame and how?


Buhari is bad, I agree. Jonathan was also terrible. Ironically, personally my fortune was not changed by one regime or the other. I survive by looking for solutions instead of just complaining and being negative.
I get annoyed when all people do is complain, scream on media (both social and otherwise) and blame everyone and everybody, without proffering solutions. What we should be discussing is what we can do to improve the situation. How are we preparing for the worst case scenario to save ourselves and our families. We can scream as loud as we can and insult each other till thy kingdom come, Buhari and his family will be safe and in luxury. Tinubu, Atiku, Okorocha are all secure.

wirinet:


My bother I try yo see the forest for the trees. That's the approach I take to all issues. Just like the Ukraine conflict (where I have made enemies both offline and online), I try to look at the bigger picture. Just like in forex trading you have to do a historical (top down) analysis to understand the present.

I have explained time and time again that Nigeria is driving on auto pilot. The economy and every other thing follows the direction of the global wind. Ironically the only leaders that thought of a developmental agenda were Abacha with his vision 2020 and Obasanjo with his economic team. Even though the recommendations were never implemented, at least the plan was put on paper. This is the reason I get annoyed when people start campaigning and fighting for Tinubu, Atiku, et al. What is their developmental agenda for the country, what time frame and how?


Buhari is bad, I agree. Jonathan was also terrible. Ironically, personally my fortune was not changed by one regime or the other. I survive by looking for solutions instead of just complaining and being negative.
I get annoyed when all people do is complain, scream on media (both social and otherwise) and blame everyone and everybody, without proffering solutions. What we should be discussing is what we can do to improve the situation. How are we preparing for the worst case scenario to save ourselves and our families. We can scream as loud as we can and insult each other till thy kingdom come, Buhari and his family will be safe and in luxury. Tinubu, Atiku, Okorocha are all secure.

Very well said bro, I feel you.

DeepSight:


My friend Wirinet is trying to say that what we are experiencing is normal. It is not. It is extreme: and the extremity of the present hardship has it roots in several bad policies of this administration.

True. What we are experiencing is demonic. The economy is on an uncontrollable downfall all because there are no policies in place since 2015.
Even in the educational sector 99% of jambites apply for medicine, law and engineering. No policies in place to make agriculture attractive!
The dollar to naira is nothing to write about. It's unacceptable. Fuel was 87 naira as at may 2015. But it's 230 today and we are still paying subsidy!

wirinet:

Please go back to school to learn what a robust economy means.

It means, the citizens of such economy no go see food chop. Starvation go wan finish them. I understand now

wirinet:

Robust gini? Nigeria economy that was still only oil based and was virtually on the verge of collapse. You Jonathan's worshippers just like Trump worshippers live in an alternate universe.

Has the economy being diversified today? The economy was on the verge of collapse and APC stepped in to do what again?

Run it into a recession, twice in 7 years or to make it stable?

Anybody that doesn't take responsibility for his or her actions is bound to fail. You can't keep blaming people and expect to do well.

wirinet:


Inflation is a universal phenomen in an economy with increasing population but stagnated or reducing production.
Let's take nigeria for example. Our population rate is 2.5%. That means for an estimate of 200 million our population increases by 5 million every year (and I am not even compounding yet). In 5 years it would have increased by over 30 million.
Meanwhile the revenue to cater for these increasing population remains stagnant at best. So what do you think would happen to inflation?

A bag of cement at N2,500 under 12% inflation rate would be N4,400 after 5 years. Remember inflation rate is compounded.

What causes inflation? Is it possible to plan ahead and soften the anticipated effects of a pending event?
Why has revenue remained stagnant?

silverlinen:

Age no be sense oo.
If you do your masters for UK nko?
Oga stop wailing jor.... even with your UK made masters, oga you're still dumb.

You think everyone will be dumb like your late WRETCHED father...

wirinet:


You are a terrible advertisement for British education. You studied up to masters level and you still described Nigerian economy as robust at anytime within the last 40 years. This shows you have no idea of Economics 101.

I also studied up to masters level from a top Nigerian University and debating with you makes me proud of my Nigerian education.

Further more, people with British education are supposed to be better mannered and courteous. You sound like you got your British education in Ajegule. Maybe you obtained an online degree.

Shallow Nairaland Champion!

Aturu!!!

Peasant MISCREANT!

Michelle70:
Jonathan in time of plenty was wasteful.

As a business man, I know that the time of plenty is the time to plan for the future.

Nigeria case is lack of progressive leaders and tribalistic youths.
Lagos is what it is because of leaders that plan for the future.
look at China, when they were busy producing China phones, we make mockery of them that there products doesn't last, but today I am typing this with China phone and u are probably reading with Chinese phone.

2moro, ur children will still blame govt while ur voursemates could be millionaires

You Sabi money economy yet you elected buhari without any known record of personal success in business t to take over the dead economy from Jonathan. Hahahahahah.

#419 is now the Price of fuel.

silverlinen:

Age no be sense oo.
If you do your masters for UK nko?
Oga stop wailing jor.... even with your UK made masters, oga you're still dumb.

See this Arrow full of INFERIORITY COMPLEX!!!

What's de Big Deal in schooling in the UK

Na una type de see am as big thing..

PEASANT!

wirinet:

The governors championed by messenger of daura cannot ask you share FG's money. The money the the governors championed by messenger of daura asked for was the governors share of the oil revenues. The governors championed by messenger of daura did not trust Jonathan to hold their money, as they already accused Jonathan of taking money from their joint account without their consent. The governors share if the federation is only 26%, the FG takes over 52%. Why was Jonathan so obsessed with the governor 26%? Why not save the whopping 52% allocated to him.

so what has happened to all that money we met since 2015? and what's happening to the excess crude money now

DeepSight:


Later, much later, do something for me. Take yourself out of your body and put yourself in the shoes of an independent third party. In that frame of mind, revisit your exchange with Wirinet here and answer this question honestly: from the eyes of an independent third party, between your posts and his above, whose look like that of a juvenile.

PS: Wirinet, who I have interacted with for many years on this forum, is a well respected poster with a fine logical turn of mind. I do not agree with much he is setting out on this thread, but he certainly has his reasons and his points and you will do well to address that which is being said and not the person saying it.

Lastly, there is a line from the Desiderata of Happiness, by Max Erhman which I think you will do well to take note of. It says do not compare yourself with others for always there will be greater and lesser persons than you. I hope this helps put your "masters from the UK" in context.

Later....much later...

Do something for your father..

Go visit his WRETCHED shallow grave you have been avoiding..

It's been affecting you psychologically...

Splitmind:
Jonathan is a fraud and a drunkard, things are much better under Buhari

Can explain more because I don't understand

immortalcrown:

Who brought the plenty and who took the plenty?
Jonathan increased the nation's foreign reserve and also offered an affordable cost of living. Where is the wastefulness? Between the foreign reserve and the cost of living, did Jonathan improve one at the expense of the other? I ask again, where is Jonathan's wastefulness?

Under Bubu, the nation's foreign reserve has drastically reduced and the cost of living is getting unbearably higher.

Between Bubu and Jonathan, who formed and used better economic policies?

So people are this dumb on this platform. You can't comprehend this write-up.Same people will claim graduate and literate

So you mean that they only protested cus it was Jonathan, not cus of the hike price of PMS