₦airaland Forum

tuale4u:
Op u made some nice point. But i dont agree with Oil companies giving forex to BDC. I think the 300 naira to a dollar is a good tin that will spur local manucaturing.

But i will rather propose dat Oil companies give forex to Manufacturers Association of Nigeria ( MAN) for raw materials, intermediate goods and machinery.

And CBN must ensure d money is used 4 d purpose and not round tripped and sold in blackmarket.

toliba1:
This is not a solution but would create more problems for the economy. The problem we have is that demand is greater than supply in CBN, Nigeria imports virtually everything we consume and oil price has dropped from average of $110 to $30 . The government earns less and CBN has less foreign exchange to trade with. Total foreign exchange we earn is less than what is needed to finance import and Banks cannot provide enough dollar to manufacturers due to rationing by CBN because its self does not have enough. Manufacturers will have to source for some dollars in black market and the price of their finished Goods and services will have to go up for them to make profit. The quick solution is to pray for Oil price to go up international market and Government is able to quickly diversify the economy from Oil dependent (Mono dependent)to agriculture & other sectors. [/color]

Geniro:
Another zombie on the prowl. It is common knowledge that the "budget of fraud" was reeked with outrageous allocations hence the 6 trillion feast figures.

You don't mega pad figures to spur the economy.

You want to spur the economy yet the propaganda machinery of the presidency was given more value than the Agricultural sector.

Are you a baby ?

Cyojunior:
Listen, a government is either capable or not; there is no
middle ground. Nigeria is not going through anything it
hasn't gone through before. The only difference is that
when we went through this before, we had capable
hands.
.
In 1998 when General Abacha died and General
Abdulsalam took over. Abacha had stolen so much from
national coffers that till date, we still don't know how
much. But we know nobody has successfully broken his
record. Still, when General Abdulsalam took over, he was
able to increase the salary of the public service by as
much as 300%, form INEC and fund them, keep the price
of things from skyrocketting and reduce inflation rate
from 29% to 9.5%.
.
In that same 1998, oil price had dropped from $17 to $13
in the international market. Still, it didn't stop the
government from performing and from fulfilling its
promises to its people. General Abdulsalam was in
power from June 1998 to May 1999, but he was able to
fulfil his promises and set the stage for a new and
economically-stable democratic society.
.
Fastforward to 2015, there has been cases of massive
looting under the Jonathan administration. Just like
1998, there has been a drop in oil prices. Instead of the
government sitting up and solving the problems, it goes
on a blaming mission and spends a whole year blaming
the last administration. Oil price dropped from $148 to
$38 per barrel under Yaradua. We never suffered like this
then.
.
The fact that some graduates of Economics continue to
defend the failure of this government by blaming the
past administration, massive theft and drop in oil prices
is an indictment of the Nigerian educational system. The
fact that some 'public intellectuals' continue to use big
grammar to justify the failure of this administration to
live up to its hype is proof that having a mastery of the
Queen's language is no guarantee that you will make
sense with it. That some 'public commentators' continue
to preach the gospel of 'we must endure before we
enjoy' and 'I didn't vote a magician' only shows that
having a browsing device, internet connection and
knowing how to attract Facebook 'likes' and Twitter
'retweets' are not the same things as having common
sense.
.
No nation is met perfect. No leader is without
challenges. No leader agrees with all the policies of his
predecessor. How the leader acts is what stands him
out. You cannot turn a nation upside down and expect
praises. Praise and respect are not given; they are
earned. Those who continue to dole out cheap praises
and 'stand with' an unperforming government only tell
us how cheap they are and how low their expectations
are.
.
The Buhari administration is an incompetent one. Until it
proves otherwise, we continue to see it as that. And you
suffering mortal that joins them to chant 'Sai Buhari'
amidst economic hardship and national confusion, may
you not die foolish.

Geniro:
You are just another zombie on the prowl.

What is the economic logic of increasing frauds in a budget to boost the economy. Most of you are just shameless beyond redemption.

aloeman15:
Guy,
Take a stand.
Are you defending him or just insulting everyone?
You think americans are interested in how water gets to their house? Or how the mobiles phones work?
Can you deliver results or not?
If you can, do so.
If you can't, get out.
Simple.

malton:
Oga jpphilips, seems Joe Ajaro is a follower of yours here on nairaland. That's a page off your book...

ZombieNation:
This is pure wickedness!

What warrants this if not blind bigotry on the part of Buhari and the Sunni Ummah of northern Nigeria who have collectively sold themselves to kiss the feet of the Saudis?

Well, he will not be President forever and he and every one of his fellow conspirators will surely meet judgement here on earth and in heaven.

DedeNkem:
Nigeria is number 8 oil producer in the world while number 1 in Africa and yet it's the ONLY country in the world that has an endemic fuel scarcity! Even non-oil producing countries don't have this problem!.

We produce crude, sell to other countries to refine (we have 4 refineries they purposedly let to rot) and then corrupt marketers import the refined product back to Nigeria, collect billions of dollars in "subsidy" from the government for nothing and hoard the fuel to inflate the price before selling it to the public!

This is the biggest legalized looting in Nigeria today.
Repairing our refineries will ultimately end our fuel scarcity problem forever and make fuel price very cheap but the corrupt marketers and their corrupt political backers don't want this to happen.

Lilimax:
I like your constructive comment but was almost put off in your summary on the last paragraph
These much needed explanation is for all Nigerians and not only the 'PDP urchins'. A lot of Nigerian that shouted 'Sai Baba' by this time last year are currently regretting their actions one way or the other as a result of current realities.
The earlier Nigerians are told the truth of what is happening the better for us instead of shifting the whole blames to the last administration.
Nobody is interested in such bullcrap any longer

obailala:
I absolutely agree with you. It not just the PDP wailers that don't understand these things, I also do not have a clue what Kachikwu keeps blabbing about. I believe there's a way these things can be communicated effectively to douse public tension. This government is obviously very incompetent when it comes to information dissemination, most information sharing seems to be done by just supporters online who have no direct link with government. Sometimes I even wonder whether we still have an information ministry.

winningwinner:
From the archives of the great thoughts of Mr. President.

Lest we forget. We are watching.

http://www.thisdaylive.com/articles/buhari-military-offensive-against-boko-haram-anti-north/149256/


Congress for Progressive Change (CPC) National Leader, Maj. Gen. Muhammadu Buhari, has criticised the declaration of state of emergency in Adamawa, Borno and Yobe States and the subsequent military offensive against the Boko Haram Islamic sect.
Buhari, who featured on the “Guest of the Week,” a Hausa programme of the Kaduna-based Liberty Radio, yesterday said the federal government’s action was a gross injustice against the north.


According to him, unlike the special treatment the federal government gave to the Niger Delta militants, the Boko Haram members were being killed and their houses demolished.
He said he was not in support of the declaration of state of emergency in the three north-eastern states because President Goodluck Jonathan had failed from the outset in addressing the security situation in the country.


Besides, Buhari added that the security challenges facing the country started in the Niger Delta region where he alleged that politicians desperate to retain their positions as governors recruited youths and armed them to enable them win elections by force.
According to Buhari, who fielded questions in Hausa language before the English version of the programme, “What is responsible for the security situation in the country was caused by the activities of Niger Delta militants.


“Every Nigerian that is familiar with what happened knows this. The Niger Delta militants started it all. What happened is that the governors of the Niger Delta region at that time wanted to win their elections, so they recruited the youths and gave them guns and bullets and used them against their opponents to win elections by force.
“After the elections were over, they asked the boys to return the guns, the boys refused to return the guns. Because of that, the allowance that was being given to the youths by the governors during that time was stopped.


“The youths resorted to kidnapping oil workers and were collecting dollars as ransom. Now a boy of 18 to 20 years was getting about $500 in a week, why will he go to school and spend 20 years to study and then come back and get employed by government to be paid N100,000 a month; that is if he is lucky to get employment?


“So kidnapping became very rampant in the south-south and the south-east. They kidnapped people and were collecting money.
“How did Boko Haram start? We know that their leader, Mohammed Yusuf, started his militancy and the police couldn’t control them and the army was invited. He was arrested by soldiers and handed over to the police.


“The appropriate thing to do, according to the law, was for the police to carry out investigations and charge him to court for prosecution, but they killed him, his in-law was killed, they went and demolished their houses.
“Because of that, his supporters resorted to what they are doing today.
“You see in the case of the Niger Delta militants, the late President Umaru Musa Yar’Adua sent an airplane to bring them, he sat down with them and discussed with them, they were cajoled, and they were given money and granted amnesty.
“They were trained in some skills and were given employment, but the ones in the north are being killed and their houses demolished. They are different issues, what brought this? It is injustice.”


Buhari also explained why he joined politics after his release from detention by former military president, Gen. Ibrahim Babangida, saying that his close associates and those who knew him very well convinced him to join partisan politics.


He said those who knew him, knew that he took on positions of responsibility without begging anyone for appointments.
“I was a military governor in a state that has been divided into six states today; I was minister of petroleum for four years and six months. I was a military head of state.

franciskaine:
Hmmm, we sure need a long term solution. Fix our refineries and stop the importation of petrol. If building refineries is too expensive, let the FG borrow and build and then sell them off. I personally won't vote for Buhari if by 2019 Nigeria still imports fuel. Nigeria has a comparative advantage in crude oil extraction and production, and that we must maximise for our benefit not the other way round.

Fedayeen:
For the first time on Mother Earth Nigeria generated 0MW of power

Nalikedis:
buy off US bond while our citizens suffer...thank God you are not the president

19naia:
Ah, because Naija is so well educated and experienced to know better than Japan? Japan made efforts to devalue it's currency while being among the top richest economies on earth..
Because Naija is well educated and more experienced to know better than China? China made efforts to devalue it's currency while being among the top richest economies on earth..
$500 billion is small by those rich country standards, which is why Dangote's worth of more than just a few billion dollars is actually plenty and in fact his worth and products make up a valuable part of the value of naija economy and GDP while contributing to much development for people all over africa.
He is investing in agriculture, refinery of crude oil and more. He is also not the only product making investor in Nigeria. There is Innoson with export potential, agriculture with export potential, plastics with more expoert potential to tap, electricity is exported and potential for more production is certainlty there including for domestic use .

There is quite a bit of production and export potential if you stop and really think about, but your mind seems more pressed with agressive pander in rhetoric of petty person to person squabbles like an area boy level of education and what an area boy's self application would conjure.

Meanwhile Another corupt politician's huge store of money has been found hiding where it was *exported* under cover. Seems naija has no problems exporting the product of coruption, why would there be a problem exporting the fruits of real productivity?
There is room for the naira to devalue "realistically" as was said by people with economics experience and a number 1 world economy to back up their story. And yes there is room for naija productivity to grow as well.

Come to USA and hang out and maybe try some education at several universities and also getting influence in casual atmospheres by a diversity of enlightened minds. And not to forget that nigeria's economy is expanded by people in USA, Europe and beyond who remit tens of billions of dollars a year to people in Nigeria, and i am one of those in USA who contributed to Nigerias economy last year.
I have been to 23 different countries and paid attention to their economies, productivity and currency status next to the dollar. Real experience doesnt happen in the classroom of any of the three different universities i attended in USA here, and not any university. It all happens in real world exposure and by those who will put their hands and money towards productivity and exploration in the heart of societies around the world where productivity, export and import potential lay.

Here is a photo insert below, of how far education in schools has gotten some of the most productive and wealthy people on earth. lets see if you can conjure some intelligent story rather than area boy/agbero approach of petty squabble rhetoric. Makes sense and not maliscious talk of boast of superior judgment with no actual enlightening details to contribute in place of low minded verbal abuse.
When it comes down to it, the very computers or smart devices we use to blog here ,are genius products of people who never completed school because school could not teach them how to acheive their goals. Now schools and businesses all over earth are reliant on their products.

podosci:
The same Mujahddins lead by Osama bin ladden, the exact same people developed into alqaeda and attacked the US, Kenya , UK and other countries. Alqeada metamophised from a terrorist group into an Idea, an Idea that laid the foundation from ISIS, Bokoharam,Al nusra, Al shabab ......Believe me, the worst thing to fight against is an Idea, you can kill a person but the Idea would spread an live on in other people...

Nalikedis:
buy off US bond while our citizens suffer...thank God you are not the president

podosci:
The double standard of the west is so irritating... The screem about human rights when it favours them, they screem dictatorship when it favour them, they screem corruption when it favours them.
The worlds terrorism problem was started by them, they were the once who armed and trained Alqaeda to fight the soviets, they armed and trained ISIS to fight Al-Asad...they destroyed libya completly.....they accuse china of spying when the CIA and NSA does far much more.....
One day the oppresors would become the oppresed

SamJed:
Chai finally it has happened....diversify the economy, the daura man doesn't want to hear....he is still wasting money searching for oil in chad basin

Lemon12:
southeast recorded the lowest with 204 application? or '204' slots were allocated to southeast

rajeto:
Everyday,we arrest,we capture,but how come,the Acting GOC of 7 Div.was mobbed by unhappy 154 and 155 task force soldiers at a boko harams enclave in a village with mine all around the military unfriendly territory, these frustrated soldiers,without Basic Arms and Ammunition,no water,no food for days now,they can only get supplies by airlifting,this can also happen to our fighting force again? after one year of a re brand democracy called change? The GOC was airlifted into hostile zone, instead of him to promised them hope of supplies and re enforcement,he went running his mouth with threat of discipline.so Nigeria Army still lack BASIC operations equipment?