₦airaland Forum

modath:
@Agaba,
Amen to that,if you want to take it up to killer status,try plank rows!!!!!!

I have not tried that before but I do Plank to push up.
I will try the plank row tomorrow and see how I will fare

General
[flash=200,200]
https://www.youtube.com/watch?v=kiA9j-dR0oM[/flash]

GenBuhari:
So you want to credit Shagari for Buhari's achievements abi?
If it makes you happy go ahead

Here is a question for you, if not Buhari who?
and what is their prove track record achievements?

No I am not crediting Shagari. I said 'credit to Buhari'
In as much as Shagari's government was unarguably corrupt, he tried to reign the raging degradation but it was too late.

If not Buhari Who? Let me get some food and I will answer you!

nethacker:
Correct me if i'm wrong,i have always argued with my friends in Nigerian universities if we are to compare US and 9ja education in terms of stress,assignments,exams etc 9ja can't stand US.But for those that haven't been here to experience it, they think otherwise.

U can contribute if u hv d experience  

If you have loads to do and have the resources to do them, you only need time management to pull it off. then you will still come out better equipped.

The stress is worse when you have only one assignment in two weeks and yet you are not able to log into any database to get info you end up copying wikipedia.

I met a master's student who wrote up an assignment with web info like you get from Netdoctor and wikipedia and he thought there was no need for any references.

Studying abroad is easier and easier and easier unless your 20 hours work is more important to you than your academic accomplishment.

Lecturers want you to pass they do not want you to fail.
They give tutorials before exams and tell you how to answer questions.
Structure of questions are the same and they repeat questions every year so you fail because you are careless.

No comparison at alllllllllllllllllllllllllllllllllll!

GenBuhari:
@agabaI23

Buhari is only government to ever reduce inflation so dramatically of just over 1.5 years

Inflation is for whole economy  not  just goods you buy from  a store.

Fact is low inflation is an indication of health and well managed economy regardless of how it has been achieved.

Buhari came into power 31.12.1983 and   was overthrown by agent of the white man (IBB - PDP Godfather)

Buhari did pay off our external debt, the 23% rise in 1985 must have been created by IBB. Also please note that 23% of a very low low figure is also a very negligible amount.

Buhari actually cut government spending and economic policy which he actually fully implemented as opposed to shagari who like many corrupt governments, pay lip service, but fail to perform or implement policies.

Same for external dept repayment, Shagari paid lip service, Buhari paid off the debt, IBB devalued Naira by 1700% and took IMF loan (hail IBB!  )

When Shagari came into power exchange rate was, N 0.55 = $ 1.00 , in 1984 when Buhari took over it was  N 0.77=$ 1.00 that is a 50% depeciation over the length of his government.

Buhari performed much better with 15% depeciation which was largely due to the depreciation momentum carried over shagari's government as Nigeria;s economy imploded, otherwise I doubt you would have even seen the 15% depreciation.

Oh General
How can come up with this arguments when you have seen the compelling evidence I gave to you?
Did you read Nwaobi's excerpt?
Nobody is applauding Shagari who actually messed up. But do not forget that Nigeria and indeed the world was under depression. After the oil boom and the burst that started in 1978 shagari came into the mix. The period between 1980 to 1983 was at the peak of the depression which continued till late 80s.

Shagari stayed 3 years in office within this period (36 months) while Buhari spent 20 months.
Depreciation under shagari was 40%(0.77-0.55)/0.55 = .22/.55=40% and not 50% my friend
For Buhari= (.89-.77)/.77 = .12/.77 = 15.6%

40%/36months= 1.1% depreciation per month for Shagari
15.6%/20 months= 0.78% depreciation per month for Buhari.

Buhari reduced the depreciation by (1.1-0.78)% = 0.32% a month. Credit to him?
His fiscal control measures showed improved but they were described as short-run which did not halt underlying economic rot.

As I said earlier, Buhari inherited austerity measure which was put in place by Shagari in 1983. You cannot argue that it was not responsible to the 0.32% reduction in dep.

Nigerias debt was not paid off by Buhari. There was an ongoing debt reconciliation which started in 1983 and ended in 1988. The debt was reduced to $3bn in 1988 3 years after he was gone. How can you say he paid off our debt?

He cut govt spending, Shagari started severe government cut even before he was ousted.

About IBB depreciation, we have discussed that and i gave you reasons. Devaluing the naira was not really the problem after all $1 =83 Japanese Yen yet they second largest economy in the world.
What our problem was is that our poor economy was covered up by over valued naira.
Borrowing increased even during the Buhari govt. People were not able to pay trade deficit and it acculated to about $5bn from 1983 to 1988. Babangida introduced the promissory Note in1988 to pay off trade deficit. This was offset quaterly or so and the last of it was supposed to be paid off last year. What did you say Buhari paid off?

He had no clue.
He was even able to get the transient improvement because he had military authority. What he did then, he cannot do now under democratic govt and it is very clear he cannot accomodate or listen to opposing views.
The corrupt senate will impeach him within months or even make Nigeria ungovernable for him because as it stands his party cannot get the majority in either the senate or house of rep.

Please read mty earlier submission again before you begin to talk like 9ijaMan

Morning guys

Exercise log
150 seated Oblique twists
170 bicycle crunches
80 press ups
100 cross over crunches
plank

The only time you realize that one minute is long is when you are doing plank exercise

My reply to you 9jaMan is held back by spambot. It will apear soon or you can check it inside profile

GenBuhari:
Buhari's economic poicy that reduced inflation  from 23% to 4% u are questioning?

Yes by fixing price goods: You are as a business man bought a can of milk at the cost of N5, displays it in your shop and a customer comes in to ask for the price and you say N6 and he brandishes his military and you are under arrest. Why? The government price is N4 per can of milk. You are detained! That surely had a good effect on the economy. Do you the amount of money lost while he was controlling inflation by price fixing? Did that help the economy?

GenBuhari:
Buhari' economic policy that paid off our debt in 1.5 years?

Oh no that is not true. Nigeria external debt increased from 5% of GDP in 1980 to 23% of GDP in 1985
Moser et al link above (p69).

You may wish to read Nwaobi's  scholarly write up. See an excerpt - start from page 8

The observed worsening economic and financial conditions and alleged widespread
corruption led to a military coup at the end of 1983.  The new regime (under General Buhari)
reinforced the austerity measures while additional exchange and trade restrictions were
announced in 1984.  The fiscal and monetary measures announced were aimed drastically
reducing domestic demand pressures.  The government also implemented expenditure cuts
and substantial tax increases.  The expenditure cuts were particularly successful in the short
run and they reduce the overall federal government fiscal deficit to a significant percentage in
1985.  As a consequence, the governmentís recourse to bank credit was virtually eliminated
and inflationary pressures were significantly reduced.
However, the governmentís austerity measures did meat with some setback.  The emphasis
on short run stabilization measures reflected the governmentís belief that Nigeriaís economic
and financial problems were transient and would eventually disappear with a recovery in oil
export prices.  In the event, oil prices did not recover, and it became clear that the
stabilization policies had failed to address the underlying economic problems.  Thus,
crippling import shortages and growing social and political discontent set the stage for
another military coup (under General Babangida) who assumed power in October, 198.  After
considerable popular debate, the Babangida Government adopted in June 1986 a
comprehensive structural adjustment program (SAP) that signaled a radical departure from
previous adjustment efforts.  It emphasized reliance on market forces and deregulation.  The
objectives of the SAP were to restructure and diversify the productive base of the economy
so as to reduce dependency on the oil sector and imports; achieve fiscal and balance of
payments viability over the medium term; and promote non-inflationary economic growth.   10
The key policies designed to achieve these objectives were the tightening of financial
policies; the adoption of a market determined exchange rate; the Liberalization of the
external trade and payments system; the elimination of price controls and commodity boards;
the decontrol of interest rates; the rationalization and restructuring of public expenditure; the
rationalization of the tariff structure and the overall lowering of tariffs; and the privatization;
or commercialization of most federal public enterprises.
During this period, some of Nigeriaís earlier anti-export bias in manufacturing disappeared
with policy reforms, and producers switched from imported to local inputs.  Particularly in
agro-processing and textile manufacturing, there was greater use of locally produced
materials.  The assembly-based manufacturing, which had depended on imported inputs and
been shielded from competition and market signals, contracted.  But the industry as a whole
grew by 3.5 percent per year (1986-1990); similarly, production of traditional food crops and
cash crops increased and agricultural output grew at 4.7 percent per year on average.  
However, the gradual loss of macroeconomic control after 1990 eroded many of the positive
changes that took place in the preceding years and have begun impacting negatively real
economic indicators.  Although significant progress was made in the liberalization of the
economy, specifically through reform of the exchange and the trade system and the freeing of
prices, macroeconomic policy implementation remained erratic and failed to bring inflation
under control.

[url=http://quanterb.org/N%20POVERTY.pdf]Nwaobi[/url]

What Buhari did was to cut Government spending in line with austerity measure which Shagari had already lauched in 1982. You do not have to thank him for that.

Debt payment was carried out through reconciliation and this was initiated in 1983(Shagari) and completed by IBB administration in 1988. You cannot give him credit for that.
Adesola
It was not Buhari. BTW january 1984 to August 1985 = 20 months and not 18 months(1.5 years) as you claimed.

GenBuhari:
Buhari's ecomomic policy to preserved our currency at better than N1.00 = $1.00?

It was worse than it was when he came. At least you accepted 14.6% depreciation under a government controlled exchange rate programme that grossly over valued the naira. Shagari even faired better than him that aspect.

GenBuhari:
BB has no policy?

The policy is to eradicate corruption.

Fix power sector / electricity

Tackle crime and make streets safer

rapidly industrialize the country

How will he do that? He did not tell how he will do any of those.
It easy to say I will and I will but the problem is how to do that.
Let him tell us my friend

Kulu temper we are not fighting just put your points across as clear as you can.

9ijaMan:
You have not raised any concrete issue in you post except to selectively choose which document to believe in and which one to drop. When you said that I lost hope in discussing with you.

You cannot reference any rubbish you see if you want to make a concrete argument. You reference authorities.
There is a difference between Nature Biotech when you compare it Nigerian journal of biotech
One is an authority and the other is anything goes.

9ijaMan:
.
Nevertheless, the CBN document you provided did not mention what the exchange rate was when Buhari came into power.

That was why I preferred to discuss based yearly averages which was provided but insisted on pointing to a data in quasi newspaper.

9ijaMan:
Secondly it amounts to intellectual deficiency in economics and absolute foolhardiness for you to assume/conclude that the exchange rate for USD is a single figure for a whole year. I showed (and forced) you some evidences and the best you've been able to do is to come up with a CBN document that does not fully address the issue at hand.

I am sorry if you did understand me but I am sure you did not read this

agabaI23:
You argued with your cronies that Buhari was responsible for the 5% inflation in 1985 even though he left office in August. You did not look for the inflation figures per month. You argued that 4 month was not enough to reduce inflation but now you think that 4 months was enough to shoot up exchange rate. You want us to believe that the effect of 4 months exchange rate would have significant influenced the overall average. May be you provide evidence
to convince me also if you are not being biased in your analysis.

If you read you would not think I assumed a single exchange rate for a whole year.

9ijaMan:
You lied and I repeat for emphasis, you lied when you attempted to turn logic on it's head and came up with some fake/wrong percentage figures to justify your lies.

I corrected the percentage immediately. It was a mathematical error and not a logical suicide

9ijaMan:
If you really want to make your point, come up with additional evidences which shows precisely what the exchange rate was on the 1st of January 1984 and compare it with what the figure was on the 27th of August 1985. It's will be utter stupidity for anyone to blame Buhari for the exchange rate figure by the end of December of 1985, since he left office over 4 months before the end of the year.

I do not have that which was why I preferred using yearly average. You are the one using a days exchange rate not even a monthly average. Statistically that's criminal and you know it.

The exchange rate of 1985 as stated is the average of the monthly averages and which in turn is computed from the daily averages you preferred to point to.
Buhari was there for 8 months and IBB was there for 4 months. Which of the two will contribute more to the yearly average. You argued in the link I showed you above that 4 months is not enough for any economic policy to influence the economy. If I should go by your words, then Buhari should take whole credit for the 1985 average just like you gave him credit for the 5% inflation of 1985

9ijaMan:
Here's another lie from you again:
How dare you come up with this cheap line? Your problem is that you keep jumping from pillar to post yet you have not been able to disentangle yourself from your web of confusion. I hope you've gone through Sanusi Lamido's article about Buhari's economic policies. If someone of Sanusi's status could praise Buhari's economic policies that much, na who you be with this your shallow economics knowledge to make the statement you made above. It's either you are absolutely ignorant or you simply cannot comprehend simple economic indices. This is simply another set of lies you are trying to use to cover your previous gaffes.

Who is Sanusi Lamido (B.sc economics) that I cannot have a contrary opinion? He may be your alpha and Omega but he is neither to me. which status are you even talking about?
BTW remember that my statement has solid literature backing and not based on sentiments before you start playing your game of truth and dare

9ijaMan:
Yet again you made another gaffe in your attempt at praising IBB's economic policies while you condemned Buhari's.

Even the lamest economists know that IBB's economic policies ruined Nigeria and I need not go into the details of that, as that's not the topic of discuss. You need to do your homework very well instead of dwelling on a single incomplete source of historical data. The internet is awash with tonnes of data and it'll only take you a few minutes to get informed.

Produce data about the average monthly exchange rates during Buhari's rule. It's only when ou are able to do so, your basis of argument is baseless and completely untrue.

You can read my dialogue with GenBuhari on this issue if you want to.

And how much is the profit in there?

GenBuhari:
Nothing is realistic if corruption is out of control

Buhari is only leader to ever bring corruption under control.

Vote BB 2011

No his economic policy initial was good.
BB has no policy, has no road map for anything.
He is just there claiming saint Buhari

GenBuhari:
@agabaI23

So you support IBB?

A man who is a western stooge that wrecked our nation?

Devalued our currency by 1700% ?  

Freed all the corrupt politicians jailed by Buhari and allowed them to keep most of their loot?

Embezzled trillions of Naira?

Next you gonna say that OBJ performed also, abi?  

Na wa for u

No I do not support IBB. In that decision, IBB was realistic.

There was a post I made in 'what we did not know about Buhari' thread. In the post , I said that IBB set out like a good man with good intention when he started. But just a way down the line, he brought out his real colours.
What killed us was corruption. He is corrupt. He stole the country dry and introduced chop make I chop method of embezzlement which brought the economy to its knees. From there the rot continued.

But by introducing Market determined forex, IBB was realistic.
Are you out shock yet?

9ijaMan:
IMO you are the confused person here. Let's just assume your insinuation to the bold statement above is true, just for the sake of argument. How would you compare that with GEJ's numerous gaffes.

We know those who are behind the October 1 bomb blast, with obvious reference to IBB, only for GEJ to make a 180 deg volte-face to now claim IBB is his father who has been advising him since his days as a governor in Bayelsa state.
Perhaps you have also forgotten the statement he made on the same October 1 issue absolving MEND totally off any wrong doing while it is glaring today that he is now trying to prosecute the same MEND.
Abi na the purported text message GEJ hurried showed on NTA news attempting to link Dokpesi with he event,and today Dokpesi is now in his campaign team with all charges against him dropped. The list of his double talk/speak is endless. These are just a few.

So tell me, who's more confused between Buhari and you brother GEJ?
You've been warned to do your findings well before you make unfounded and baseless assumptions, statements or conclusions.

Is that the only thing you can pick out from that post to respond to?
I cannot defend GEJ's gaffes. He will do that himself and if he has not learnt to think before speaking he will lose the election based on that , not very sure though because very few people in Nigeria have access to the media I have accepted that GEJ made some mistakes but he never claimed to be a saint fyi.

Now can you address the concrete issues raised in my post?

60 views and only one reply. Come guys say what you think here

seunlayi:
, it is really scary.

Did you listen to all of it?

9ijaMan:
You keep digging yourself deeper and deeper into a complete web of lies. When a person tells a lie, he'll need another 10 lies to cover the first lie if he does not want to get caught and each of those 10 lies would need another 10 lies again for coverup.

I would not want to go into any epistle to show you your level of ignorance and absolute illiteracy when it come to economic matters of the Nigerian state. Below is a link to a write up by the current CBN Governor, Sanusi Lamido Sanusi on the impact of Buhari's economic policies on the Nation.

I hope you read it and comprehend the contents. Ruminate on the article and then figure out where you've peddled lies n you previous posts on this thread and then make amends.

http://www.triumphnewspapers.org/why18112010.html

You have not countered any of my fact based arguments. You do not have to brandish Salisu's article in truimph as your defense.
Salisu was against exchange rate  determination by market forces so what. I think you should read some academic articles on this issue before brandishing that to me. I will assume you have an independent mind that can critically analyse information for yourself. But if you choose to let Salisu speak for you. . . .all correct.

BTW that article has no data on the exchange rate we were debating. Get that for me and stop bringing out all this mushroom newspapers. Triumph is a government sponsored news media, I have never heard of Thewill before. CBN website or any published journal article will do.

Please address the issues i raised before calling me a liar.

GenBuhari:
@agabaI23,
Did u miss my last post? I wrote the following:

Buhari took over when 31st Dec 1983  (Which iwe should call 1984 ) and exchange rate then(1984) was N0.77 = 1 $  with  Naira depreciating fast with great momentum left over from Shagari's government.

After Buhari was overthrown, it was still N0.89 = 1 $ when he left, the slight depreciation was negligible considering that there was depeciation momentum from when he took over that had  to be arrested.

This was only a  very small 15.6% depreciation  considering the depreciation momentum left by Shagari and that Buhari had spent his first few months paying off debt left by Shagari.

Buhari left exchange rate of    N1 = 1$   (which IBB inherited.)  Depreciation  16%


Lets look at depreciation under tenor subsequent leaders.

                                                                                                                    %  Depreciation

IBB left office                         N18 = 1$                                                            1700%   

Abacha left office                   N22 = 1$                                                            22%

OBJ left office                       N125 =  1$      Hail OBJ,  Hail PDP                         468%   

Yara Dua left office                N171 = 1$                                                           37%


http://en.wikipedia.org/wiki/Nigerian_naira

Thank IBB (almost killed us)  and his friend OBJ (finished us off - even with record oil prices) for our current predicament 

Both IBB an OBJ are PDP god fathers.

Can you remind me why EFCC has not probed IBB and OBJ?

Seriously I did. I was actually treating 9jaMan's response as yours.

However I have something to say about the period between 1974 and 1985 when the exchange rate was determined by import-weighted basket of currencies aka nominal effective exchange rate (NEER).

If you look at the depreciation rate with Shagari who was clueless, you will notice that it was always below 20%. Infact, it took three years for him to achieve a depreciation of 17.9 which was reduced afterwards.

The NEER system was not viable method of determining exchange rate because it overvalued the naira against the dollar considering that non oil export shrinked with the oil boom of the seventies and the oil price depression of 80's Nigeria's export was grossly reduced. Government savings fell from 24% of the GDP in 1980 to 12% of the GDP in 1985.  Yet the exchange rate remained comparative stable even in the face depreciating dollar.
So Buhari could not do anything to salvage the economy and like I said he had no solution then and he has no solution now.


Now about IBB killing us, no he did not kill us. He was more  realistic. When he realised that NEER was not viable
Ogiogio, 1996 (also see Moser et. al in my post above)

and was not doing the economy any good, he ditched it for market determined exchange rate (SFEM now FEM).

There was public auction of  currencies and the exchange rate was based on the demand and supply instead on trade (import) flow between countries of selected currencies. The naira value nose-dived because of worsening economic status of the country. No one paid attention to non-oil export and corruption was also depleting the external reserve.

The value of the naira cannot improve without our export increasing.

Like I said in my last post, Buhari was there when the foreign reserve was drawn down from 6months import allowance 1980 to just two months at the end of 1985.

But he will be here shouting of drawing down of foreign reserve.

He did not help the economy because he had no clue. He used physical fiscal policies like banning foreign currencies and changing the naira but their effects ephemeral.  

Because his policies were unrealistic, artificial and  draconian, it could not arrest the underlying economic and financial degradation.

It is not enough to claim he did not steal as his only reason to come back. It is just like telling us that Yar'Adua left $6.5 billion dollars in the Katsina state's account and yet the people of Katsina state had nothing to show for his 8 years as a governor. It makes nonsense.

Like I said, Buhari' Kaduna Campaign speech is watery and vague. It had no clear road map and there is not solution
to any problem I read through.

In an interview in Oct last year  he told us he was not going to prosecute past leaders and also that he will not go to court if he loses. In February, he turned back to say that those who will leave the country when he wins should get ready to do so from the same mouth.


The guy is power hungry and has no clue of what he want to do.

he should go and sit down

prolly not real
Does she know what internet is?

caringchi:
i laugh in latin
GEJ this, GEJ that!
my boyfriend is an backside-hole. he has refused to be serious with our r/ship, no gifts, no money, no engagement ring!
i blame GEJ!!!    i blame the president!!!
       

leave him and come to me and GEJ will have no influence again
Then you will laugh in Spanish

GenBuhari:
what concerns u with her answers sef?    

Exercise:20 mins walk

My log for today10/3/11

few peanuts with orange

small bowl of oats porridge with lecithin granules and little milk

Handful of almond nuts

Everything!

BTW you too like nuts [size=4pt]not as much as me anyway[/size]

Both pictures are in the extremes for me. Somewhere in the middle is it for me

modath:
General,
Thanks for your concern but i got this,Jillian recommends it be done 30 days straight but i don't. I do 2/1,i listen to my body and since i like to eat[albeit healthily] i have to work out.i also like to workout Cos of the endorphin rush i get after my workout,i love the fact that i am strong fit and healthy,aches and pain will come but as long as i am on point with the stretches R4R recommended and the others i do with my gym ball,I'll be good .
General,you think this is too much cos our people are damn lazy,i want a body like beyonce[in my dreams],Mel b[spice girl],Monica[R&B diva] or the present J-HUD and i know it doesn't come for ''free''.

We are lazy my dear you no lie. But Hudson's transformation is amazing. Mel's flat tummy is hot and she flaunts it.
Go for it. Even Nollywood Ini Edo shaped of recent. It is all about determinatons. There are pains after but it feels good

kwantri fefle

I was scared by the ferocious wind(excuse) so i could not run

200 Bicycle crunches
plank
60 press ups
160 seated oblique twists with medicine ball
100 cross over crunches

Jakumo:
Now I know what happened to my missing goat.   I demand compensation for the damage caused, and the mental anguish I have suffered during the period of time when the fate of my pet goat, named Ayatollah Buhari, was declared missing in action.

I DEMAND JUSTICE NOW !

Good man! If you need a witness call me

People should stop reading meanings into what was just a simple mishap.
So the bird strike that happened in Lagos was caused PDP? The cattle invasion in Port harcourt was caused by PDP?

We are talking we have forgotten how the fulani animal rearers deal with their livestock. No accessible land with green forage is holy to them and their livestock

On a second thought, it could some registered voters who came to welcome the presidential candidates.


BTW Ribadu and Tinubu were in different aircraft. This account seems unbiased
http://thenationonlineng.net/web3/news/30260.html

I am not peddling any falsehood.
Your source said that his source is central bank website. I quoted for you what is written in central bank website but you rejected it for an article published in TheWill.

If you cannot get an authentic source for me, then it means your article misquoted. or deliberately used the lower figure because he was trying to put IBB in a bad light.

Can you please get me the source where it was stated that the exchange rate on 27th August, 1985 was 0.765?
The foreign reserve of Nigeria depreciated from 6months import allowance in 1980 to just 2 months at the end of 1985
Moser et al

The exchange rate as at that time was expressed as nominal effective exchange rate (import-weighted basket of currencies) a method very different from the market determined exchange rate used today.
Therefore the exchange rate for a month is the average of the daily exchange rates which in turn was determined by the import vs export ratio of in seven currencies in the weighted basket. It is very clear from the link above and many other sources that Nigeria was importing more than it was exporting which was the reason why the foreign reserve was depleted reflecting huge reduction in govt savings. How could the exchange rate be stable in that condition.

's[b]hort-run fiscal stabilization measures and quantitative trade controls dominated the adjustment efforts, while underlying economic and financial condition continued to worsen'- moser
[/b]
In other words, Buhari did not do any thing economical. His economic policies like I said before were artificial and physical and had no effect on the countries economy.

In this thread https://www.nairaland.com/nigeria/topic-605263.0.html

You argued with your cronies that Buhari was responsible for the 5% inflation in 1985 even though he left office in August. You did not look for the inflation figures per month. You argued that 4 month was not enough to reduce inflation but now you think that 4 months was enough to shoot up exchange rate. You want us to believe that the effect of 4 months exchange rate would have significantly influenced the overall average. May be you provide evidence
to convince me also if you are not being biased in your analysis.

As to how a I came about the % depreciation which should have been 26.4% not 34% is very clear on the table.
He recorded 11.6% depreciation in 1984 and a further 14.6% in 1985. Add that together general.

modath:
General,
Why don't you quit worrying about how much am exercising and just Google what 30 day shred is all about.

Good answer

9ijaMan:
Chief I thought my original reply to you would make you do a bit of extra research. I laid the basis for you to do additional findings and then make your point with facts. Below is a news paper article stating precisely the exchange rate between $1 and the Naira.
http://thewillnigeria.com/opinion/4759-THE-IBRAHIM-BADAMASI-BABANGIDA-SAGA.html

According to that article, $1 exchanged for 0.765 Naira (or 76.5 kobo) when IBB took over on the 27th of August 1985. Admittedly Buhari may have met the dollar exchanging at 72.4 kobo when he took over (but it can as well be said that he met $1 at 0.765 Naira, 'cos he came in on the last day of 1983, which is essentially 1984). It should be noted however that the naira was bound to drop at least due to the political unrest which may have originally been stirred by the military take over. But Buhari kept it constantly at 0.765 Naira (76.5 Kobo) to $1 throughout his tenure.

These evidences debunks your argument that the absence of hard currency contributed to the drop in the value of Naira. In reality the Naira practically did not drop in value compared to the US dollar when Buhari led the nation.

I'll join egift to solicit your apology to the OP, 'cos you have not only lied but slandered against the person of Buhari. At least you'll prove to be a different breed from the regular GEJ supporter!

year  rate
1973 0.66 - n.a - n.a
1974 0.55 -20.0 n.a - n.a
1980 0.55 0.0 0.90 - 63.6
1982 0.67 17.9 1.14 21.1 70.1
1984 0.76 11.8 3.25 64.9 327.6
1985 0.89 14.6 3.79 14.20 325.8
1986 2.02 55.9 4.17 9.1 106.4
1987 4.02 49.8 5.55 24.9 38.1
1988 4.54 11.5 6.05 8.30 33.3
1989 7.39 38.6 10.55 42.7 42.8
1990 8.04 9.3 9.61 -9.8 19.5
1991 9.91 18.9 13.04 26.3 31.6
1992 17.30 42.7 20.03 34.9 15.8
1993 22.05 21.5 36.23 44.7 64.3
1994 21.89 -0.7 59.79 39.4 173.1
1995 81.20 73.0 59.79 39.4 3.1
1996 81.20 0.0 83.09 -0.7 2.3
1997 82.00 1.0 85.00 2.2 3.7
1998 84.00 2.4 87.90 3.3 4.6
1999 93.95 10.6 99.20 11.4 5.6
2000 102.10 8.0 112.00 11.4 9.7
2001 111.93 8.8 132.36 15.4 18.3
2002 121.0 7.5 137.42 3.9 19.1
2003 129.3 6.4 n.a n.a n.a
2004 133.5 3.1 n.a n.a n.a
2005 131.1 -1.8 n.a n.a n.a
http://www.cenbank.org/OUT/PUBLICATIONS/BULLION/GOV/2007/BULL%20JUL-SEPT06.PDF

This is taken from central bank report.

And the value there corresponds to your earlier value from Wikipedia.  The authority of this overrides those from your newspaper articles.
Do not try to make Buhari what he is not to score political point.

There were two 'policies' under Buhari which actually affected the exchange rate at the time.

1. The banning of foreign currency
2. The changing of the naira notes.

The first one devalued the naira because of the scarcity of the foreign currencies while the second one created scarcity of naira which should have increased the value of naira.

Both of these measures were artificial and were not sound economic policies.
Unfortunately the effect of the second policy was not strong enough to counter the effect of stifled forex flow  so the
value of the naira kept depreciating.

There is no way you can explain that away.

The value of the naira when he took over was 0.72 to a dollar which you accepted and when he left office, it was  0.89. That was 36.4% depreciation from when he took over and he could not do anything about it with his draconian policies.

I support GEJ because he is the all round best amongst the lot.
He has clear road maps which BB does not have except for his flawed claim to sainthood. I read through his Kaduna campaign speech and there were no clear solutions. Everything was vague! There was no road map on how to tackle all the issues he raised. He was able to point out the problems like all of us can but he ended up criticising PDP without proffering any solutions.

Instead of apologising to you, I will thank you for informing me.
I did not blaspheme BB, the over all context was that the Forex depreciated under his regime and that has not changed.

Good one!