₦airaland Forum

babyfaceafrica:
PDP are worse, they just use sense cover their uselessness... I will never ever vote PDP again..

I stayed fact, numbers don't lie

DMerciful:
When Obj came, with his reforms came prosperity for Nigerians and this went on to Jonathan.

You're just trying to defend the monumental failure of the APC govts

You missed my point completely.

Good evening

ivolt:
Le us be sincere, the foreign loans we took has nothing to do with survival.
Most of the money were splashed on vainglorious projects such as rail lines which can't only pay for itself
but its maintenance is gulping a significant chunk of our yearly budget.

I remember the textbook argument that our "debt to GDP is the lowest in Africa" constantly being used to justify more loans
even though the government had no other means of paying back aside from oil proceeds.


What's funny is that we built more forex reserves when oil prices were average between 1999 to 2007 compared to today.
And the lowest price of the so-called 2014 crash is higher than the average oil price from 1999 to 2005.

BTW, borrowing didn't start with PDP, all Nigeria's government from independence borrowed.
What matters is the scale of borrowing compared to revenue and whether the borrowed funds
are essential or would not become future liabilities.

What you are doing is excusing incompetent admins using simplistic textbook economics.
We cannot dig ourself out of a hole by digging further. Imagine if these guys were in charge 1999 to 2007,
Nigerians would have gone through hell during the 2008 crisis. And they will have a ready textbook excuse
that it is not their fault but the crash and low oil prices.

Till date, the CBN has not given a report on the expected gain of floating the Naira.
That is, the massive increase in FX inflow.

The fact is that the government took the easiest way out by eroding the populace purchasing
power while patting itself on the back for "saving" trillions.

This is the largest wealth transfer from the poor to the government. Yes, the rich are not as exposed
to Naira cash instability as the poor.

There are countries that are neither resource rich nor manufacturing houses but still has more
stable currencies than Nigeria.
How did they manage this? By spending within their limits.

If the government really believes it is in a dire strait, it will impose austerity measures on itself even for symbolic purpose only
but what do we have? Their spending and profligacy has been increasing year in year out since the 2014 crash occurred.
This is not the people you make excuses for.

What i am ultimately telling you is that Nigeria is running a resource dependent economy that is good when oil prices rise and bad when they aren't

But you and your apc and pdp geng are only interested in defending your side.

Good evening. Sad to see that you guys cannot separate politcs from econonics.

And yes, i dont support your pdp and their apc. A pox on both their houses.

You have no point!

You're trying to downplay the culpability of Tinubu and his gang

nairalanda1:
You missed my point completely.

Good evening

nairalanda1:
What i am ultimately telling you is that Nigeria is running a resource dependent economy that is good when oil prices rise and bad when they aren't

But you and your apc and pdp geng are only interested in defending your side.

Good evening. Sad to see that you guys cannot separate politcs from econonics.

And yes, i dont support your pdp and their apc. A pox on both their houses.

And I say you are wrong in every aspect.
Any idiot can actually perform wonders when the goings are good.
Great managers are not those who finds it easy when things easy, it is those who can navigate tough situations.

I see that you sidestepped all my points and went for a non-issue(politics) which I never focused on.
Those in charge from 1999 to 2007 weren't alien or ghost and we were running an even more
resource based economy then than now.

You see, none of your excuses are economic destiny set in stone.
Government decisions which you think are irrelevant matters.