₦airaland Forum

Citadelbot:
Bro, Nigerian Politics is not about what you are thinking. Nigeria politics is about numbers, do you think the pepper sellers, danfo drivers, truck pushers that will queue to vote know about dollar exchange or macro economics, we are still not advanced yet in that country. Do you think people will vote the likes of Fashola, Soludo, Sanusi, Adeshina. e.t.c. People vote on sentiments and tribal line, even Obama will loose if he contest in Nigeria.

yeh but then again I can tell you the pepper seller can Top up thier mobile phone and call his supplier,something we could not dream of in 1990, so the so called pepper seller is life getting better or difficult? what would you answer be?

datolee:
So in effect, you support depleting our reserve just to defend the naira, yet, you will go on another thread shouting how our external reserve has be depleted by the "clueless" one?

By the way, the fall of Russian ruble to dollars is also as a result of missing billions and billions?

This is the point most of us miss here, they should see whats happening to Almighty Russia, and learn from them,I remember when Russia threatened to turn off the Tap in Europe.Now they dont have that Say anymore, mayB nxt week their currency would be crap like that of the Chinese.

nduchucks:
Oga, you raised a point about whether GEJ is a better manager than Buhari. I gave you the reason why i disagreed with you and pointed out that my disagreement has nothing to do with depreciation. Please, what part of the point I made is over your head?

You gave a reason a Pry school pupil will give hence my reply to you in that sense, its like saying there is nothing like 2-3 we no this is true in pry school

DMerciful:
60 to 100 is 60% and not 40% but althesame u'u're right in ur logic. People feel its about d numbers rather than the percentage! They need to learn.

Guy dont repeat that mistake again,I assume all of us here are graduates or undergraduates and well educated, if you say something Increased from N60 to N100 it meant and increase by %40,its basic Pry 4 .N50 to N100 is an Increase by %50 hope U get the drift now?? keep up my friend keep up.

atlwireles:
For the size of this economy, it is a crime against humanity, that Nigeria still depends on oil and gas, for 80% of government spending. The economy is diversified already. Oil and gas represents only 18% of the GDP.

I dont think this is a fair criticism of Nigeria, how about Russia?

nduchucks:
For me, %deprerciation is irrelevant in determining who the better manager is. In my books, if as a manager, your subordinates steal by the billions of naira with impunity through NNPC, Fuel Subsidy, ordering unauthorized bullet proof vehicles...the list goes on and on....then sir, that Oga at the top cannot be a better manager. Sir, this is who GEJ is, unfortunately, regardless of depreciation.

You my friend are banned from debating in political matters of Economics, u got no Idea at all of all pointers in Economics in a national stage,how can u say % depreciation don't count when all our lives depends on it interest rate,budgeting,infrastructure all depend on % increase or decrease

obayaya:
Give it a rest bro!!!

I gave you EIA's official data and you're giving me some dumb graphs?

If you must know That Energy information Administration (EIA) is an authority when it comes to energy matters

That Data was adjusted to suite inflation, it even stated at the button na wah sha for people

obayaya:
Oil prices wasn't even anywhere close to the 80 dollars Nduchucks quoted.. oil price was around 30 dollars at the time

www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=F000000__3&f=M

Guy leave the Olodo to be selling his foolishness o n Nairaland,

nduchucks:
You forget that leadership is most important. Experts in Economics are a dime a dozen. GEJ has access to these experts but allowed theft to reign with impunity.

As to the question posed by the OP, I remind lazy youths of the following:

The price of crude oil, was $86.62 in September 1982, just before President Buhari took over, and dropped to $27.61 by the end of 1985!!
Given the Economic conditions Buhari met, it’s a miracle that the naira depreciated only 106% I don’t have time to educate you people, but I’d suggest that you read up.

I hate when people come here to say rubbish or lies where did the price of Oil say $86.62 in 1982?? is this not silly you saying this I cant tell you with Authority that the price of Oil 1982 was $31.85 as average and here is my source http://www.ioga.com/Special/crudeoil_Hist.htm
as U can see Sept 1982 it was $31 so where did U manufacture $86.62 from?,I just sent these data to my friend in texas and its correct and he feels U are out of your mind.

Firefire:
Absolutely!


APC Failed in presenting a serial failure to represent change in the 21st century.


WHAT AN INTERNATIONAL SHAME!

Yes exactly, and it even Sad young Vibrant youths will come out and say SIA BUHARI, he is more clueless than GEJ if you ask me, that man GMB can not define inflation and all its pointers.GEJ is not a saint but at the moment we are stuck with him cos APC failed us in the sense that they could not produce a credible challenge to PDP

Descartes:
Well said.

Am always at the sideline whenever an economic issues are being discussed cos am not an economist or have a degree in macro economics.

I learn from the Macro economics gurus like datolee, barcanista, airtwireless, etc


Wisdom is a function of Humility and indeed the Principle thing

I like your honest post very honest I must say.I would like you to acquire the knowledge of difference between foolishness and ignorance as shown here on topics of Economic stuff
here is the simple maths of Inflation. Mr A ruled for just 2 years, met naira N2 to $1 when they left 2 yrs later it was N4 to$1 then Mr B came to power for 8 yrs met N100 to $1 wen they left 8 yrs later it was N150 to $1, who in Economic term do you think performed well in stabilizing the Naira against the Dollar?

nduchucks:
PDP goons lying with statistics without context since 1804.

I'm afraid, its too late for you and your oga at the top to deceive Nigerians. You should have presented a different presidential candidate. Nigeria is too complex and sophisticated for GEJ, he is simply not fit to rule us.

WE WANT CHANGE AND WE SHALL GET CHANGE BY FEBRUARY 2015.

Non of the people vying seem fit, APC lost it when they presented GMB as their sole candidate, that's why they are going to lose,they should have brought someone fresh ohh I forgot,GMB has huge starch of money to spend than everybody else

datolee:
Sometimes I feel for the “poor” Nigeria voters who are constantly fed with half-truth and in some instances, outright lies. We are at it again, being told how perfect, stable Naira was under Buhari. To even quote GMB, . http://www.thecable.ng/exclusive-interview-im-opposed-muslim-muslim-ticket-says-buhari/2

Two things are involved here:

1. At no point during the administration of IBB was naira N80 to a dollar, the highest it was at parallel market was N21.90

2. When Buhari took over in 1983, the Naira was exchanging for N 0.724 to a dollar, by the time he left office, the Naira was exchanging at between N1.5 to 1.7 in the parallel market. We will make use of the N1.5 exchange rate.
From 1983 to 1985, the Naira moved from 0.724 to 1.5 representing a 107% depreciation of the Naira!

The question therefore, with 107% depreciation of naira from 1983 to 1985, how stable was the naira under Buhari?

My guy some Nigerians are the true definition of ignorance they seem to think something that increased from N2 to N4 is better than something that increased from N60 to N100 they lack the capacity to recognize that 2 to 4 means %100 increase and 60 to 100 means %40 increase..Plz Vibrant youth of the day, be wise,do not encourage selfish elders

Readonee35L:
The car won't start or kick no sign of life but all electronics work, my scanner even connects to it and scans vehicle but engine won't roll, a mech decided to switch on the ignition and kick it from the kick starter under the hood, the engine rolled but didn't start , many said its the ecu

Chevrolet venture 2003
Vin: 1GNDV03E33D166611
3.4Liter 3400 SFI V6 Engine
All wheel drive
4-SPD auto Tranny

i'd like to know the right ecu for this car and the price for it if possible

Bro is the ECU not i n the car still? if so it would have its part number/serial number written on it

smartleo:
The fact that Shagari is in and out of court is a prove that GMB is not an ethnic biase fellow like most of us.Let me take you back memory lane,how a Chinese former President was sentenced to life imprisonment.... Because of corruption..don't worry GMB won't arrest you even if you have skeleton in your cupboard after he sworn in.lol.....and if u call that indiscipline I'm afraid ooooo.

Are you sure you was an adult during the reign of GMB? he arrested all the southerners under shagari and allowed just the head shagari free and you think that was deciplin??

zanga420:
do u know that you are more corrupt than he that embezzle funds, 'cos u're ideologically corrupt. U made a nice list, let me join u look it in ur perspective but twisted it because u want to bring gej down. Have u forgotten how oshiomole shut this country down when he's protesting fuel inrease with obj? U didnt specify that in ur list as u did to gej. Now obj n others just brought fuel prices down on their own and are saints on that. On another perspective have u considered what brought about those increaments & reductions. This is the weakness of nigerians, we dont draw straight line and keep it straight, we always somehow bend it, then the credibility is lost.

Bro dont even mind the Idiot.the original poster of this list never included GMB as he claimed he copied it out of a text book for objective criticism but was amazed when it got politicalized.The 2nd poster decided out of his own to add GMB20-20.thats where he gt burst by me n he went underground.Now this idiot

smartleo:
You seems to make sense,but let me point you to this buhari introduce war against Indiscipline during his regime,the brain that can put that measure in place,can also stampede corruption.don't worry GMB will soon tell us the how.

And went as far to be indiciplined himself by arresting all the southerners and westerners leaving shagari n co out of Jail.what do U call that?

SuperModerator:
Blessing or curse, I don't understand why the price of fuel wasn't reduced

My reasons are;
1) If imported fuel costs N104/litre, what of the little we refine locally?

2) What of Diesel that had no subsidy, if PMS could fall from N145/litre to N104/litre (subsidy excluded) why didn't the price of diesel fall?
Not to talk of kerosene that the subsidy is in ghost (them no dey see us) mode

3)FG claims increase in dollar makes importation of refined crude more expensive.
What of more earnings we get from the exportation of crude oil due to increase in dollar

Nigerians, it's time to take to the street...
if the house of assembly and the debate can not do the needful by impeaching a non performing President, let's do it ourselves.

tjis has little or nothing to do with price of petrol as pump price in Nigeria is nt a true reflection of Oil price in the world mkt.There would be less do or die politics..Artificial scarcity would be reduced.there migjt be more gas to power or power station plus govt will seek new ways of making money from the blck Gol

babasanti:
HISTORY OF FUEL PRICE INCREASES IN NIGERIA.
(K for kobo, N for Naira)
•Gowon - from 6k to 8.45kobo
•Murtala - from 8.45k to 9k
•Obasanjo - from 9k to 15.3k
•Shagari - from 15.3k to 20k
•Buhari - from 20k to 20k (Price remains the
same)
•Babangida - from 20k to 39.5k
•Babangida - from 39.5k to 42k
•Babangida - from 42k to 60k (Private Vehicles)
•Baban gida - from 60k to 70k
•Shonekan - from 70k to N5 (Naira)
•Abacha - from N5 to N3.25k (Price drops)
•Abacha - from N3.25k to N15
•Abacha - from N15 to N11 (Price drops)
•Abubakar - from N11 to N25
•Abubakar - from N25 to N20 (Price drops)
•Obasanjo - from N20 to N30
•Obasanjo - from N30 to N22 (Price drops)
•Obasanjo - from N22 to N26
•Obasanjo - from N26 to N42
•Obasanjo - from N42 to N50
•Obasanjo - from N50 to N65
•Obasanjo - from N65 to N75
•Yar'Adua - from N75 to N65 (Price drops)
•Jonathan - (New year present) N141
•Jonathan - (After labor strike) N97
BUHARI and YAR'ADUA did not increase
prices. In fact, YARADUA reduced the pump
price from N75 to N65.

U still coppied this stupid post on here even when I bursted the guy who posted this and he ran underground?

bluehorizo:
“Over 70% of what are called corruption, even by EFCC and
other anti-corruption agencies, is not corruption, but
common stealing." President Goodluck Ebere Jonathan on
May 5 2014.

If u sit down 4 a sec n think.U will agree with him.corruption do t jst involve money as a matter of fact less than %20 of these corrupt cases involve money which would be stealing.

sebali:
Wat Visible effort has Jona put in place to punish any corrupt person...NONE

how did GMB purnish Shagari?

SuperModerator:
that is because government owned telecommunication companies don't go international.
the biggest telecommunication company in China is owned by the government.
you can't expect to see NITEL in Ghana, it is government owned

ok I see U r new to how Economics of the world works cos U mentioned china I have to assume so.Now China is a socialist country try n read up what that means in ir own time. Bt means British telicoms.was owned by british govt just like Nitel but was sold just as HEJ is tryi g to sell Nitel but it has been hard due to tje heavy ammount of debt owed by Nitel.Royal mail was owned by the tax payers u til %60 was sold to the pu lic now the govt ow s jst %40.the British govt owned % of the Euro Star but sold it few mo tjs ago now they have no share.Socialist xou tries own all major Utility companies within its states.ie Electricity.water.transport.tv infact almost everything however the way foward id for a more open Economy like ones we ja e in the free world.China is not a free country.People need permits to even live in certain part of the country even though they r chinease.its a silly country to live trust me.

SuperModerator:
Privatisation is the only thing PDP lead Government know how to do.

later, they will say GEJ performed than all our previous leaders... I will always ask who built those infrastructures he is privatising if not the previous leaders

he keeps selling what Nigeria spent years and money to build to his proxies

here is one of my previous posts;

try n thimk like an Economist for a sec.name one of the bigest telicom company in the world and who owns it.I got two names in the Uk. VIRGIN MEDIA .BT privatly owned even Royal Mail was sold

dridowu:
Anytime i remember this "Stealing is not corruption" i just laugh out loud. Honestly we nigerians don enta 1 chance

If you read proper meaning to it U will realize he was right.If I employ my muslem brother instead of a christian .Im corrupt.now is that stealing?Bro we ahoulld think out of the box for a bit.

omenka:
One thing the writer must know is that Buhari's campaign isn't just an emotion-driven campaign, it is based on a singular issue (I stand to be corrected) and that issue is "genuine war against corruption". One doesn't need to tell you how "monies saved from plugging leakages" would be deployed. The thing is, once these leakages are contained, things would simply work as they are supposed to. Contractors would execute jobs they are paid to do. Pronouncements on paper/budgets would be transformed to visible structures on the ground. You won't have a situation where the only progress visible would be those on paper in some polls conducted by the country's finance minister!!

When you fix corruption (and stealing), you invariably fix 80% of this country's problems.

when U proclaim U are going to fix something U muat have a blueprint as to how.I U want to build a house U must jave ur plan in place.If U ask him how.no answer yet.

safarigirl:
The OP said Buhari hasn't presented a campaign point. In the same write-up, the OP also admitted that Buhari is widely known to speak against CORRUPTION.

Only Namadi Sambo will be forgiven if he still requires an explanation to know what Buhari's campaign point is by this time.

Common sense should tell you that Buhari's government is coming in to send GEJ, Okupe, Abati, Bode George, Alams and Dimaji Bankole to the prisons they all should have been in eons ago....stop asking questions that have obvious answers.

In fact, a ticket with Baba Suwe/Mr. Ibu would still trump Jonah and Sambo.....issue or no issue, Buhari is better than Jonah

why did he not Jail shagari?

twaintoy:
Don't worry, when clueless and shoeless GEJ leaves for his Otuoke zoo and Buhari becomes the president, you will know how.
Sai Buhari 2015.

is this not the 4th time he is contesting?

Papertrail11:
My reason for sayn or opting for govt control of refinery instead of dangote is based on the area of sabotage, exploitation.

And come to think of it a refinery is not something dat should be owned by just one person its like saying you wanna own an airport which govt all over the world maintains control of......

and for yur info I reason like a human being

Bro first of all I neva said You dont reason like a Human now let me sell U bit of Knowledge, Name one Airport you know in the developed world owned by its Govt?
2 name one refinary in the developed country owned by its govt, quick answer to those questions is Non,in the UK and US, JFK and Heathrow are Public o wned not govt,
in the UK and US,BP and Exon are public owned not the govt, or you got other answers??

rhazur:
Dr GEJ in 6years not 1 known ex-student aside her excellency Dame Patience.
@ProfOsinbayo in less than 2hrs of being chose ex-students came out.

Do you know where UNIPORT and PHC are

Mcweber:
My Dad wasn't an art student. after his secondary Schl exams in 1976, he went for his HSC(I think that's equivalent to Diploma now) for 2 years and gained admission straight into 200l in UI and he was a science student.

ok noted.

Mcweber:
This is very possible OP and I have a living example. My dad was born 1960 and he graduated from UI by 1980 whc makes him 20 by then and by 21 he was tru with his NYSC......thr is nothing biggie in that.

this is what we r saying but anything short of that is xtra ordinary.ur dad DOB 1960 prob went to pry sch @5 1965 +-6 yrs he was 10 yrs wen he started sec sch so if he spent 5 yrs in sec sch he wud be +-15 yrs old.so if he did 4 yrs at uni meaning Art course then he wud be 20-21 so U r rite but wen u say he finished Uni @ 17 then U need to xplain

scarred9jan:
somebody that is 28 was born in 1986. we started early in my house and he went to sec school from primary 4.

Na wahhhh ohhh talk is free.How old was he @pry 4?