malel1:


U are a slow poke, do u think if ur PMB was still in office that this dollar thing will fall? Watch when he comes back what will happen to dollar again

You are an illiterate in economy and financial matters..So I can't debate with you.
If you have what it takes to debate me,then come on let me show Nairaland the empty brain you parade.
Meanwhile, check the increase in External Reserves from $23 Billion to $30 Billion in past 3 months and get sense on why the government can afford to loosen the rope now. Commonsense is Not Common to everyone.

I

musicwriter:


Jonathan did not bring us to where we are today, everybody who have ever ruled this country did, including Buhari.

However, if the current administration know what they're doing we would not be in recession in the first place. Things may have been bad, but not a recession.

Releasing $10 Billion wisely would crash the dollar rate and it would be sustained. In fact, that's what they're doing now. They don't even have a choice.

The recommendation of "Releasing $10 Billion wisely..." is so childish. It is similar to a cousin of mine's thesis on how government should banish poverty by printing enough Naira and awarding each citizen at least N10 million. That way, we all become rich! That's possible but not wise because of Its adverse economic effects. So is your above recommendation
A man whose income is hemorrhaging drastically with no hope of how soon it could turn around will be st upid to spend his remaining paltry N100,000 to defend a 3X a day feeding rooster. He will run out of cash in 2 - 3 months and that's when the mother of all sufferings will start. Wiser to spend small small so that what's left will carry the family longer while hoping for income improvement. Once an improvement in income begins to show,he increases food allowance. That's this government's strategy and i agree with it.
The road to AVOIDING this current economic situation was paved from 2003 when under OBJ, the beefing up of the External Reserves was made a core policy. Within 4 years,selling oil @ avereged price below $50 per barrel and less than 2 million barrels per day,that govt grew the Reserve to over $65 Billion. We paid Paris Club debt from it and it carried us through the short period of global financial crisis of 2008-2009.
Then came Jonathan He met $45 billion in this Reserve and $20 billion in Excess Crude Account. Under him oil prices averaged about $100 per barrel and 2.2 million per day. If he continued with the policy to prepare Nigeria for the rainy day, NIGERIA'S FOREIGN RESERVE WOULD HAVE BEEN BETWEEN $112 - 118 BILLION AS AT DECEMBER 2014 ACCORDING TO PROF CHARLES SOLUDO's ARTICLE ON THIS SUBJECT IN JANUARY 2015.
But instead of increasing the amount to $112 - $118 Billion, we had only $28 Billion in the Reserve and Excess Crude Account had disappeared. No other President is responsible for the economic hardship in Nigeria now than GOODLUCK EBELE JONATHAN!

Which Aba?
That shameless retrogressive little town unable to find its potential. The Aba I grew up in the 80s and 90s has nosedived. You can attempt to deceive those who don't know the city but Aba is miles behind from the developments witnessed 1980 - 1983. No other states in Nigeria is that backwards.

Igboid:


Why so? Because of Aba?
Is Aba the capital of Abia state? Umuahia is a clean Capital of Abia state. How many other Nigerian states can boast of a second city/town as big, economically viable and developed as Aba?

Please go and rest.

Nnamdi Kanu is not held in disobedience to any Court order. The American man doesn't know what he is talking about.

Have you ever wondered why the South Easterners are always running away from their area and moving massively to live in the North and South West and South West,Northern people are not moving to South East in the same numbers?
You need the sophistication I'm talking about to know the right answer

Igboid:


So?
What did those positions yield for the average man in the streets of SE?
Has the presidency lifted the North and their SW partners out of poverty?
Has it brought tangible development to the average man in the streets of SW and North?
Don't they all still have bad roads, decaying infrastructures, erratic power supply, and everyother third world features?
Nigerian political posts which only serve the interest of political jobbers, their immediate families and cronies, as they all shout "ONE NIGERIA" is what you are drinking panadol over.

Only a foolish manager will implement a lavish spending strategy when his sole income earning product is selling @$28 each with 1.5million barrels daily down from a high of $120 per barrel, selling 2.2million barrels per day. A wise Manager conserves resources in the days of dryness and begins to ease by gradual releases as both price and selling quantities increase. That's exactly what this government has been doing.
It's actually naive to assume that Osinbajo's decisions do not have PMB's clearance.

ERockson:
We are seeing dollar crashing against naira immediately a good policy is applied and some fools cannot see the difference between trial and error policy of PMB and that of Ag president. Ride on Osinbajo

You are recommending the GEJ strategy which was condemned by economists with vision and which brought us to where we are today!
Releasing such amount will give us a temporary result because investors know that it's a cosmetic surgery. They will buy it up, wait and hold it, then sell it for over N500 because THE LOWER YOUR RESERVE, THE LOWER THE VALUE OF YOUR LOCAL CURRENCY AGAINST OTHER CURRENCIES.
Investors always BET AGAINST CURRENCIES OF COUNTRIES WITH LOW RESERVES,KNOWING THAT IT MUST DEPRECIATE. THAT'S WHAT HAS BEEN HAPPENING TO OUR NAIRA SINCE LATE 2013.

musicwriter:
If they can actually release $10 Billion from part of the $28 Billion they claim to have saved in reserves, the Naira could crash back to N200/$1.

Intellectual Indolence is the act of holding to a position in a discussion, debate in spite of superior logic. Your point had been destroyed earlier with the superior argument reproduced below. If you don't have any new argument,just shut up. Don't show intellectual Indolence here..

u speak out of ignorance.
The pressure on Nairau speak out of ignorance.
The pressure on Naira is chiefly caused by
*Dwindling oil prices(oil being our core forex earner).
*Depleted external reserve(FOREIGN RESERVE, EXCESS CRUDE ACCOUNT was depleted from $65b to $30b by GEJ's govt inspite of 4years of oil boom @ average of $100per barrel and 2.2million barrels per day).
The price of oil began to drop in 2014 under GEJ which caused the governmebt then to warn us to prepare for the hardship ahead.
Oil prices dropped as low as $28 per barrel and export down to less than 1.5m barrels per day which reduced Nigeria's income and forex earnings by upto 70%.

In the past 3months,the gradual rise of oil prices,,export quantity and good management of the Reserve has seen it rise from below $25billion in Dec 2016 to $30billion last week.
With rising forex earnings, the government can now afford to ease off some tightened ends which if not tightened could have worsened the pressure on Naira.
THE RULES OF THE GAME IS SIMPLE:

HIGH FOREIGN RESERVE + RISING FOREX EARNINGS = REDUCED PRESSURE ON NAIRA
LOW FOREIGN RESERVE + LOW FOREX EARNINGS = INCREASED PRESSURE ON NAIRA

GEJ'S CRIME WAS TO EARN SO MUCH DURING OIL BOOM,YET FAILED TO BUILD UP THE RESERVE. RATHER HE LOOTED IT TO A LOW AND STILL BORROWED HEAVILY. THIS DOES NOT MAKE SENSE IN ECONOMICS

ERockson:
We are seeing dollar crashing against naira immediately a good policy is applied and some fools cannot see the difference between trial and error policy of PMB and that of Ag president. Ride on Osinbajo

I SURE KNOW ENOUGH TO BE YOUR LECTURER.
You do not need to look far to confirm whether what i said is true or not.
Just take a look at where the SE is now on the national political ladder and sooth yourself living in denial.
From top 2 in 1960, top 2 in 1979 to just Deputy Senate President in 2007,2011 and 2015.
The SE is now occupying the last position in national political office hierachy ( 6th of 6)

Igboid:


You are the shallow ignorant one, who knows next to nothing about the political history of Ndiigbo and those of other Nigerian groups, yet you had the temerity to make a denigrating comment about Ndiigbo while hiding under the veneer of being Igbo.

Stay off this section if you won't cure yourself of your low esteem and Ignorance.

"The poor choices made by the current (JONATHAN's) government have mortgaged the future, and the next government would have little room to manoeuvre and would inevitably undertake drastic but painful structural adjustments. Nigerians loathe the term ‘structural adjustment’. With falling real wages and depreciating currency, I can see any belated attempt by the government to deal with the bloated public sector pitching it against a feisty labour. I worry about regime stability in the coming months, and I do not envy the next team."
PROF CHUKWUMA CHARLES SOLUDO, JANUARY 2015

Read more at: http://www.vanguardngr.com/2015/01/buhari-vs-jonathan-beyond-election-charles-soludo/

SalamRushdie:
When we told Zombies Buhari alone was responsible for the recession they argued , today I have been vindicated . .Buhari's is responsible for 70 the entrenchment of corruption in Nigeria and the rot Nigeria has become since independence and I can prove it anywhere

"If oil prices remain between 40- 60 dollars over the next two years, the current policy regime(OF JONATHAN) guarantees that foreign reserves will continue the precipitous depletion with the attendant exchange rate depreciation, as well as a probable unsustainable escalation in debt accumulation, fiscal retrenchment or taxing the private sector with vengeance. The scenario does not look pretty."
PROF CHUKWUMA CHARLES SOLUDO, JANUARY 2015

Read more at: http://www.vanguardngr.com/2015/01/buhari-vs-jonathan-beyond-election-charles-soludo/

peteregwu:
The problem of Nigeria at the moment is buharis incompetent. It is a self imposed recession by buharis government. But I somehow believe if Osibanjo continues from now and buharis remains in London, things will improve. So long Osibanjo uses his God given sense and not that of Bulgari.

"The presidential election next month will be won by either Buhari or Jonathan. For either, it is likely to be a pyrrhic victory. None of them will be able to deliver on the fantastic promises being made on the economy, and if oil prices remain below $60, I see very difficult months ahead, with possible heady collisions with labour, civil society, and indeed the citizenry."
Prof Chukwuma Charles Soludo, Jan 2015

'We have come full circle. If the experience under Shagari could be excused as an unexpected shock, what Nigeria is going through now is a consequence of our deliberate wrong choices. We have always known that the unprecedented oil boom (in both price and quantity—despite oil theft) of the last six years is temporary but the government chose to treat it as a permanent shock."
PROF CHUKWUMA CHARLES SOLUDO, JANUARY 2015


Read more at: http://www.vanguardngr.com/2015/01/buhari-vs-jonathan-beyond-election-charles-soludo/

SalamRushdie:
When we told Zombies Buhari alone was responsible for the recession they argued , today I have been vindicated . .Buhari's is responsible for 70 the entrenchment of corruption in Nigeria and the rot Nigeria has become since independence and I can prove it anywhere

You speak out of ignorance.
The pressure on Naira is chiefly caused by
*Dwindling oil prices(oil being our core forex earner).
*Depleted external reserve(FOREIGN RESERVE, EXCESS CRUDE ACCOUNT was depleted from $65b to $30b by GEJ's govt inspite of 4years of oil boom @ average of $100per barrel and 2.2million barrels per day).
The price of oil began to drop in 2014 under GEJ which caused the governmebt then to warn us to prepare for the hardship ahead.
Oil prices dropped as low as $28 per barrel and export down to less than 1.5m barrels per day which reduced Nigeria's income and forex earnings by upto 70%.

In the past 3months,the gradual rise of oil prices,,export quantity and good management of the Reserve has seen it rise from below $25billion in Dec 2016 to $30billion last week.
With rising forex earnings, the government can now afford to ease off some tightened ends which if not tightened could have worsened the pressure on Naira.
THE RULES OF THE GAME IS SIMPLE:

HIGH FOREIGN RESERVE + RISING FOREX EARNINGS = REDUCED PRESSURE ON NAIRA
LOW FOREIGN RESERVE + LOW FOREX EARNINGS = INCREASED PRESSURE ON NAIRA

GEJ'S CRIME WAS TO EARN SO MUCH DURING OIL BOOM,YET FAILED TO BUILD UP THE RESERVE. RATHER HE LOOTED IT TO A LOW AND STILL BORROWED HEAVILY. THIS DOES NOT MAKE SENSE IN ECONOMICS ACCORDING TO ECONOMISTS

ERockson:
The result from new policy by Ag president Osinbajo has been positive resulting to the drastic fail in dollar, an evidence that Buhari is not competent to rule and it is his presidency that brought economic calamity to the country and not actually the stealing of the GEJ government.

Nigerian scamsters have changed tactics as they target Indian people online, security experts have warned.

The fraudsters are no longer relying on phishing emails about lotteries and charity as bait, but are duping people on the pretext of partnering with MNCs (multinational companies), investing in herbal seed businesses and channelising foreign funds.

According to security agencies, there is a complete shift in the modus operandi of these Nigerian web gangs.



A senior Delhi Police Crime Branch officer said: 'The scamsters lure gullible targets via social networking sites such as Facebook.

'They then pose as diplomats or MNC executives and entice their targets to invest in a global venture, which actually does not exist.

'Interestingly, all dealings are done at high-secured areas such as airport and five-star hotels to give an impression of being high-flyers and avoid the risk of getting into trouble.'

The latest in the police trap is 34-year-old Anigbogu Kelly from Nigeria who was residing in New Delhi and was arrested after resistance from Patna airport this week.

Kelly was allegedly trying to get away with Rs 5 lakh from Patna resident Ajay Kumar, who had already paid Rs 5 lakh as advance for getting the distributorship of herbal seeds.

According to the police, there are several online gangs running scams to procure seeds with medicinal values that can cure diseases, including cancer.

'There is no fixed narrative. Depending upon the profile of the target, the gang traps them. In the herbal seeds scam, the victim is approached online as a representative of an overseas pharmaceutical firm looking to source herbal seeds from local farmers through an agent. They promise the victim huge returns if they pay the agent upfront for the seeds. Then they disappear with the money,' said Uttar Pradesh Special Task Force's additional superintendent of police Triveni Singh.

Gangs are also cheating people using fake foreign currency, like this batch recently seized
+2
Gangs are also cheating people using fake foreign currency, like this batch recently seized

One of the latest victims is Meerut's Varun Thapar, who lost Rs 3 lakh to a Nigerian gang. Thapar went to meet the gang members at a five star hotel in Mumbai and Delhi.

He told Mail Today: 'The gang members contact through their international number or makes a WhatsApp call. The gang sounds so professional that it is difficult to make out that they are fraud.

'I was trapped after getting a friend request from a Manchester-based female executive. I was given seed sample in Mumbai and later duped at a five-star hotel in Delhi. The trap was so perfect that I could not sense any foul play.'

During investigation, it was found that all the numbers used for communication were taken on fake identities.

Police claim the gangs have developed a new trick, where they pose as diplomat or MNC executive and work in nexus with a local youth who helps them with logistics.

In a similar way, one Agra-based doctor ended up losing Rs 50 lakh after falling in trap of another Nigerian gang.

'I was approached by diamond trader from Los Angeles who wanted to invest in India. We were in touch for long, when one day he told me that he was coming with huge foreign currency and was stopped by Customs officer, who was demanding money for his release. Once I paid the initial Rs 1.5 lakh, he started making new excuses and demanded more money,' she said, asking for anonymity.

The victim said each time the gang member would make a new excuse.

'When he realised that he can siphon more money from me, he gave me a bag containing sealed foreign currency. But he cooked up a bizarre story that only after applying a chemical solution, I can use this money. Later, I found that the money was fake,' she said.

According to the police, with this new trend adopted by criminals, more and more educated people are falling victim.


'There has been an increase in such Nigerian frauds, primarily because of people's desire for easy money. It is sad to see educated people falling prey to such fraud. This is despite our awareness campaign about such scams,' Singh said.

He explained that gangs are using virtual number generators through which they can generate any number to their phone so the receiver will have the impression that he is getting a call from foreign country.

The gang prefers to communicate through WhatsApp calls to avoid coming in police net.

'We have received several complaints across India about Nigerian scams and are tracking couple of gangs,' Singh said



Read more: http://www.dailymail.co.uk/indiahome/indianews/article-4217936/Nigerian-fraudsters-target-India-new-tactics.html#ixzz4ZbnzAfqw

SweetBoyFriend:

Who do you think you're telling all these lies to ?? Primary school kids ??

You don't just overcome recession in few months, come on, where is your brain ??

The United States of America and Germany have not recovered from the recession that destroyed their countries in the 90's and early 2000

Go to Alaska (oil industry), New Jersey, Florida, Detroit (steel industries), Pennsylvania (everything is gone in PA) and many other states, you will know what recession is

The Obama administration somehow defeated recession, the administration somehow brought back 50 million jobs but they're still abandoned malls, factories and homes scattered all over the USA

If the Almighty USA couldn't bounce back from recession, you think that a country like Nigeria who can't even provide 24hrs electricity would just bounce back from recession like a Spider-Man

Foolishness at it's peak

These old air heads are nothing but uneducated donkeys

When an ignorant one pretends to challenge an intellectual, he exposes his foolishness!
In attempting to challenge Bismarck who is an established authority on finance and economics, you just showed us your empty brain.
From your comments, it's clear that you do not have the slightest, flimsiest idea what "economy recession" means.
When an economy is said to "enter" or "exit" "recession", it has a definition in economics. You would be showing yourself an illiterate in economics when you criticize or argue "recession" outside this meaning.
The American and German situations you raised in your comment is laughable because these countries have not been found anywhere near recession recently. Empty Malls and Warehouses are not necessarily symbols of recession.
Almost all authorities in economics posit that Nigeria's exit from recession is a matter of quarters. I don't know where you got your own knowledge and understanding of economics.

NORSIYK:
The poor prof should have rejected this assignment knowing fully well that Northern Nigeria people are barbaric and they can kill him at any given time.

That Prof is safer there than anywhere in the South.

Wey the draws oo?

Splinz:


You're yet to understand the link between Catholics and traditional worshipers. Though they may differs in certain ways, but one thing unite and bind them together. And what is it? Idol worship!

I tell you, both of them do 'honor' their fathers and mothers very well.

I can bet you lack both the intellectual and theological capacity to explain, define "idol worship". Please if you do, can please explain what it means and show how Catholics are "idol worshippers"?
If you don't, then you are an Ode of the highest order!

Igboid:


From your post, it doesn't sound like you know anything.

At least I know enough to identify that you are another shallow minded one from my place.

Nebuchadnezar:
[s][/s]
nope am not like you that get heartbreak on a mere forum posts.
we've been in the game even before you taught and dream of having your first phone so kid am just pointing out at the folly of an old man who's supposed to be cuddling his wife at this time of night instead he chose to be a sadist

kiss the truth

Do you have capacity for truth? Obviously you don't!
I'm pretty sure you were still in primary school when I bought my first phone. If it's your Dad making this claim, then I could square up to him..but surely not you.
You were not even yet conceived by your mum when I began to follow the game with the Sam Mbakwes, Nwobodos etc. So go find your mates little one.

Ngokafor:

..lmao!!..so its no longer 'sai baba buhari till 2023'??...In 2015,it was 'buhari will rull till 2023,after that Osibanjo will rull for another 8 years blablabla!!

...Funny clowns!!...you all sit down in one dingy corner making permutations in future tenses you have no control over..'Igbos will never rule,Biafra will never come,we will control the destiny of Igbos till eternity blablabla..

..Now its another set of calculations for 2019,with buhari's name missing

..Buhari himself on ascension of the throne was behaving like a demi-god with his 97% and 5% thingy,now he is lying sick while the 5% are alive and kicking and the 97% crying of hunger and starvation..

..Let the uncertainty surrounding buhari and 2019 presidency now be a lesson for you numb-skulls(apc supporters)..thats if you have any common sense ..Never say never is the watch-word of the wise.

Funny when the empty brain thinks he is the wise one!

TonyeBarcanista:
He has to step down from the Public Account Chairman Committee

WHY??

seunmsg:


Truly, Uba should be removed as the chairman of the public accounts committe. That position should be occupied by an opposition senator and not a member of the ruling party. However, the call for his sack from the senate is just a joke taken too far.

Why should he be removed from the Committee Chairmanship?

cr7lomo:
Anambra hates apc so much that even if the pope contests under apc he will loose and if Lai Mohammed contests under pdp he will win...that simply states that Andy uba was voted due to his platform...now he stills the peoples mandate and hands it over to apc...that is absolutely wrong

Why is it always difficult to meet a SE youth with a good understanding of politics, even the local?

Another ignorant comment from an ignorant PDP leader!
Make EFCC contact me, I go give the names of Ekweremadu's money launderers in Dubai and Lagos. Make him own contribution to our economic hardship become public knowledge.

The worst Senator in the history of my Senatorial Zone has positioned to rig again. He always works with INEC to win elections.

[If not for a man like Buhari who cherishes and want people of integrity to work with, how would an Osinbajo become VP?
If not for Buhari who stuck to the Constitution, how would the Prof be Acting President?
If it was in the crooked PDP government you support, would Osinbajo's star stand a chance to shine since he strongly stands against corruption?
Thank God for Buhari that we have Prof in the Presidency.
quote author=Jessestunch post=53909617]See what it means to have a young vibrant president... Even though am not a fan of APC, but Osinbajo has done in few weeks what Buhari will never be able to do in 4 years... We all knew Nigeria and Nigerians never needed someone like Buhari but nepotism, politics and religion belief had the better side of Nigerians at the last election..

Please for those of you that are his fans.. Please beg him to either stay in London for ever or better still resign... Osinbajo is more than capable... In these few days in charge he has brought government closer to the people... Unlike the fulani corruption fighter that we only get to hear from whenever he is abroad from the foreign press...


Let's make Nigeria great again.
[/quote]

[You are deliberately lieing ooo
Everybody know say na Nyesom Wike collect award and he is the one that lives lavishly like most other Nigeria Delta Governors

quote author=sosy25 post=53824147]The Nigerian newspaper is Sun Newspaper and the Governor is Ibikunle Amosu. Its an open secret.[/quote]

What a heart break he gave you with that poem

Nebuchadnezar:
[s][/s]

old man behaving like a kid

tufiakwa

You don't seem to know how politics work especially in Lagos

lyricalz:
Dey will soon loose dia seat come 2019, d area dey represent are all PDP dominated places where majority of residents are none Yorubas eg festac, amuwo, ojo, ajegunle. If I was in their shoes I will remain with PDP.

Lagos has been largely one party since 1999 and has always done tremendously well

Emassive:
Lagos is doomed when one party rule and the riches can be shared evenly now.