₦airaland Forum

I still find it funny that most people don't know why Nigeria economy went into recession, they love the incompetent lies of Lai Mohammed about the past government ruining everything. It's also myopic to think that if Jonathan were to still be in power, we would be worse off.

The truth about Nigeria's recession is this; it was caused by the president's unguided rhetoric and uncultured body language.

Firstly, there is nothing we are buying today that we weren't buying 5 years ago, therefore it's not our purchase that put pressure on Naira but withdrawal of funds by foreign investors.

After the election, the president created instability with his unguided statements about how everyone is corrupt and how everyone is going to jail. The instability made foreign investors to liquidate their investment and change their money to dollars. In the process of trying to flee, they were willing to buy dollars at any price, which lead to high exchange dollar rate.

Even though some of them were not ready to run away, but want their money in dollars to save their investments from devaluation, the president gave a bad signal by banning deposit of foreign currency into dormiciliary accounts. That was enough for free market believers to see the draconian handwriting on the wall, that was the beginning of dollar rush.

To make matters worse, the president came up with another outrageous policy of rationing dollar to certain sectors and blocking many sectors out. That was the nail in the coffin which facilitated the emergence of free FALL.

In the end, foreign investors took over $80B out of the economy within a short period and everything went down to free fall.

To those who believe it will be worse if Jonathan is still there, you are all wrong. Policy continuity and political stability will not let billions of dollars leave our shores within such tiny time frame. Even though the government might have income shortage, the private sector will weather the storm by their confidence in the market.

The fear of the unknown created by PMB is responsible for the economic downturn not low oil price. Interest rate in America is currently at 0.5% while it is 12% in Nigeria. JP Morgan Chase will not mind borrowing $50 billion from Feds at 0.5 and put in Nigeria for return of %2000 profit. Citi bank will do the same, likewise US Bank Corp. Chase gave Buhari warning about the repercussions of his fixing policy before they pulled out, but his illiterate cyber warriors and misseducated e-soldiers said JPMORGAN can go to hell, they no longer believe in economic metrics since their messiah is in charge. Funny enough they are all suffering today because of the stupid policy, but they find relief by blaming it on past administration and Gucci appetite of average Nigerians.

For your information, if your president "kontunu" with his unguided rhetoric, Naira will go down to N1000/1 $. But we thank God, he is no longer talking.

Another fake news from govt of professionals liars

No pic of the bodies of the suppose killed militants

This shoe is make in republic of duara same with the suit.

British laid the foundation of corruption in nigeria

Tribal warlord
Why not search in duara


Presidents buhari desperate search for oil in the north east shows that no tribe from the north really desire Nigeria to remain one if they can take care of all their needs, I pray u find what u fine looking for so we can all rest.

Bihari cousins act work,
Anyone from the south hoping for this present govt to protect them is in for shock if not dead.

Hypocrite why have u not resigned?

Some one should pls read this to bihari.

Sir the house that took u six years to build hs been destroyed in less than two years.

Gej is a clear example why democracy is not the best system of government, once the majority got it wrong everyone suffer.

Rubbish

Condemned in public, smile in secret, evil men.

If they truely mean what they say a thing like this wouldnt have repeat in the first place .

Is bubu not a dog?

Why will they set this match in the first place, no matter what only Orton can't tame the beast it took roman reigns and lunatic French guy to subdue lesnar.

Why on earth could randy think he cab do it alone.

Panic Grips Delta State As Lassa Fever Kills Doctor, Leaving 32 Persons Quarantined
A wave of panic is washing over Delta State, following reported cases of Lassa Fever infection. Already, the haemorrhagic fever has killed a doctor and left 32 persons quarantined in Asaba, the state capital.Those placed under surveillance include 11 members of the family of the deceased doctor and 18 persons at the private hospital where he was first admitted. Also under watch are three other persons who made contact with the deceased.
BY SAHARAREPORTERS, NEW YORK

Always reacting no action
Secretly smiling for job Weldon.

The man who named his dog, ‘Buhari’, Joachim Iroko, aka Joe, was remanded on Monday at the Ibara Prison following his arraignment at the Ota Magistrate Court 2, Ogun State.
He was charged to court by the police with conduct likely to cause breach of the peace, in a case with suit number MOT/617c/2016.

The prosecutor, Inspector Itaita Ebibomini, said the accused committed the offence on Saturday, August 13, 2016, at the Hausa section of Ketere Market in Sango-Ota, in the Ota Magisterial District.


The prosecutor told the court that the offence was punishable under Section 249 (d) of Criminal Law of Ogun State, Nigeria, 2016.

The accused, who was represented by a counsel, U. Michael, pleaded not guilty to the charge.

The charge read, “That you, Joachim Iroko, aka Joe, and others still at large, on Saturday, August 13, 2016, at about 5.30pm at the Ketere area, Sango, in the Ota Magisterial District did conduct yourselves in a manner likely to cause breach of the peace, by writing a name,Buhari,on a dog and parading same in the Hausa section of Ketere Market, Sango, thereby, committing an offence contrary to and punishable under Section 249 (d) of the Criminal Law of Ogun State, Nigeria, 2016.”

The Chief Magistrate, B. J. Ojikutu, admitted Iroko to bail in the sum of N50,000 with two sureties in like sum, adding that the sureties must be regular tax payers in the state.


“They must attach four passport photographs each to the bail bond, depose to affidavits of being gainfully employed, and reside in the court’s jurisdiction,” he added.

The case was adjourned till September 19, 2016.

Family members had yet to perfect the bail for the suspect’s release. He was subsequently taken to the Ibara Prison.

Let them keep killing. Tears has dried in my eyes, even if I open my mouth no sound is forth coming all because my opinion holds no value.

I know the part RCCG leaders played during the last general election.

Just for wandering around, why didn't they consider considered insanity first.

99.9% of the 5% need the same thing.

U guy should fashion another way of making ur grievances heard because protest no longer work in nigeria

tosyne2much:
No it's not... You could make research on it

Now a days in Nigeria we re afraid of everythin . Even the truth itself is suspicious to us.

Too easy to be true, look like fraud to me.

There nothing mysterious abt it. If u can't swim and u dive into swimming pool what dovu expect. Unless u want to tell me that buhari is behind it.

Is really sad because based on the story he has lost his sanity, I just pray his victims don't die for nothing

Is there any country that identify with the religion of peace and remain peaceful?

Sherrif is not our problem
And who told u that we will ever again be fooled after our experience with change

Ex militants who una help.

Who are the politicians that RR blackmailing gej. Don't they have names.

DropShot:
A dull president presiding over your smart pops and moms and uncles and all members of your very smart family.

D
I didn't said that all leaders re smart in fact many leaders in the world are dull and ur President is the dulliest of them all.

I love the number six n I believe it could happen

But can a barren womb bear a child