₦airaland Forum

hinwazaka:
Do you even understand anything the OP wrote in this flimflam piece. The OP was simply jabbering about things he knows nothing about. Take for example the section that dealth with the JP Morgan' issue. The real concurrent reason for carrying out their threat was the poor feeders they were getting from this government.A directive they had issued out since January was not returned with a reply or a whiff of action. And you and the OP are here absolving the government of blame and claiming the action taken by the firm won't affect us.

Don't worry, by the time you start eating breakfast at night your eyes will receive sight

Beremx:
sadly all these people cannot debate intelligently other than to throw insults except for the lady.

Opiaoku,the floor is open!

Kastonkastroll:
no be by cancelling now, counter his "facts" by presenting your own argument here. That's if you will be able to do that[/s].

PassingShot:
[b]This thread is of course a response to this https://www.nairaland.com/2590889/see-what-happening-nigerias-economy

For us to understand and appreciate what the new government has done or not done for the country, it’s very important to revisit the type of economy it inherited from the last regime as enumerated below:

1. The Nigerian economy operates a budget which is heavily skewed in favour of recurrent expenditure (about 90%) against capital expenses (about 10%) as represented by 2015 budget here http://www.punchng.com/news/jonathan-signs-n4-425tn-2015-budget/

Implication of this is that there will be no real development in the core areas that sustain and improve economic development.

2. Nigerian economy is largely dependent on crude export. Even the crude price has fallen below the benchmark price ($53 per barrel) on which the 2015 budget was based. Crude now sells at around $47 per barrel.

3. As at April 2015, the Federal Government of Nigeria had borrowed $473bn to pay salaries of its workers for March and April 2015. http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html

4. GEJ met the reserve at $47.7bn in 2010 but still managed to reduce it to $29.6bn despite that crude sold for an average of $100 per barrel (peaked at about $140/barrel). The country’s FR plays a huge role in giving confidence to foreign investors in Nigeria’s economy. The higher the value the higher the confidence in the economy and vice versa.
http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html[/b]

I could go on and on but these will suffice for now.
Now, let’s see OcheJoseph ‘s points one after the other:


Yes, Nigeria will be delisted from Bond Index of JP Morgan. However, it amounts to crass ignorance for any sane analyst to want to blame the government of the day. JP Morgan started the process of reviewing Nigeria’s continued participation in its bond index in January of this year given the fact that we had depleted our FR to an abysmal level while our currency continued to lose values.

For Nigeria to continue to participate in the BI, the conditions given by JP Morgan are very detrimental to our economy. Nigeria will have to devalue the Naira and possibly will exchange for about N350 to a dollar. This will drive up inflation which means cost of imports and even local goods will go up. Cost of doing business will shoot up and productivity will expectedly drop which will eventually lead to massive retrenchment by the companies.

So, should Nigeria have chosen to remain or accepted to be delisted? I wait for your answer.



What do we expect when the FG as at May 29 had not released a kobo towards capital development? The capital expenditure in the 2015 budget is paltry 10% of about N4.5tn and NOTHING had been released as at the exit of the last govt. So what miracle do we expect?




This is too cheap and very misleading. Job losses are a constant part of any economy and if it’s not as a result of a government’s policy or not on an industry-wide scale, you cannot put the blame on the government. Even in the link you provided, it was clearly stated that the layoff was not for any reason of threat or loss as quoted

“One thing that is clear is that Zenith Bank is not under any threat,” the source, who spoke with our reporter on condition of anonymity. “With the current crisis in the banking industry in the country, it is incumbent on any bank that wants to growth to bend backwards to re-strategize and restructure its operations to expand and grow.

Is the OP insinuating that there were no job losses during Jonathan’s regime? Or that every job loss was due to his mismanagement of the economy?




At some point during GEJ’s era, the naira exchanged at above N235 to a dollar. That it trades at N220 currently represents an overall gain from N235/N240. The CBN is on a mission to make it difficult if not impossible, for stolen dollars from our reserves to be easily exchanged or transferred abroad. Besides, the fact is that crude price has dropped and our over dependence on imported goods among others have naturally put pressure on the naira.


The headline reads “Nigerian economy slows in Q2” and not “Nigerian Economy Slumps”, Both are not same and don’t mean same thing.

The quarter 2 referred to represents April, May and June of 2015 and GEJ was in charge in April and May. Does it then make any sense to blame a presidency which was in charge of one month out of three months for the slow down in the growth?

Again, the fact is that the economy would have collapsed completely had GEJ managed to win the last election. The economy was already on a downward slide by the time we voted him out. So, for anyone to attempt to put economic woes that we may currently be experiencing on PMB/VPYO smacks of irresponsible partisanship.



What is the news here? Must Nigeria do business with China or any other country for that matter?
Nigeria will do business with anyone whose policy and business terms and conditions favour her. This is no rocket science.





The loss is as a result of JP Morgan’s delisting and it was definitely expected following the announcement. The loss is not Nigeria’s loss but investors. When investors have gained in the past, was the gain given or shared with the country?

As I said earlier, CBN/DMO/MOF and Nigeria as a whole has taken the right decision to stand up to JP Morgan’s manipulative tendencies. We cannot because of foreign or even local investors accept conditions that could bring the country to its knees.


If anyone needs to use their brain, it’s you and your co-travellers.

You lots preferred we continue with a failed president/government. You wanted us to continue with a regime that could not manage surplus and bounty harvest in times of scarcity. You wanted us to continue with a government which recognized stealing as the norm. You wanted us to continue with a government of wastes; a government that placed militants above law abiding citizens; a government that couldn’t guarantee security such that a portion of the country was in control of some rag tag terrorists.

Buhari ison a mission to stop the bleeding the economy was going through. He is on a mission to prevent a very bad situation from getting worse. He is on a mission to restore our lost glory, sanity, accountability and pride where STEALING WILL BE SEEN AS CORRUPTION.

May God continue to guide President Buhari & VP Osinbajo aright
May Nigerians prosper better under his selfless leadership

CC: Lalas==ticlala Se==un Obino===scopy

SeverusSnape:
Liar!...GEJ's government was more investor friendly, When did you hear or read in the news of investors losing such large sums of money as they are losing now?

Truckpusher:
Investors are fleeing and companies are laying off workers in their thousands and some iidiots are here chanting 'Sai baba' and talking about body language - I give them six months from now most of them won't even get the odour less fufu and bailout funds from the FG just then it would dawn on them. Right now the impending catastrophe is a like a child's play after all they still have Jonathan to blame for now.

buoye1:
so you're truly human?

Oga o


Olorun Ayo babalola

Idiataqueen:
Olorun ipe babalola

donholy28:
Buhari receives APC thieftians

ojoadeola:
If you want to change dollar or Pound sterling;

1. Go to appropriate places where legal and operational Bureau De Change is/are located.
2. Look for a bureau de change shop or office and go in, don’t transact at the entrance.
3. Meet the owner of the business/shop, not the surrogate/boy/mallam/loafers.
4. State the reason for your visit and agree on the exchange rate first
5. Allow them to give you the cash equivalent of your agreed sum before you hand over your cash. This is to avoid fake money or lost
money.
6. If you come with a car, don’t transact business through the windows of your car, come down and do the business.
7. Check the correctness of your money before leaving the premise.
8. Have a dedicated customer whom you transact with every time.
9. Do business with a ‘mallam’ first before any other tribe. This is my suggestion though.

Good luck to you all!

Dexema:
Bros! U don see lucifer pix before? Just incase u have a copy abeg mail am to me,therz money to be made.

shidof:
Ba matsala, but as for d evidence u might ve 4gt so easily. It was on this forum last year whr u claimed dt ua from osun state, iwo to be precise prior to osun state gubernatorial election.

shidof:
Pele, Eran olokun lorun. Go and check my formal post again