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Nairaland Forum / Kooldude01's Profile / Kooldude01's Posts
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Politics / Re: Ex President Goodluck Jonathan Congratulates Donald Trump. by Kooldude01: 1:48am On Nov 10, 2016 |
AntiIPOOP:E pain am!!! 1 Like |
Family / Re: The Desperation To Get Married by Kooldude01: 11:28pm On Sep 22, 2016 |
[quote author=brossam2001 post=49589568]Op . Gerrahiamen. This post was plagiarised from a post in December 2015. https://www.nairaland.com/2815882/travails-marrying-late. If it is the same person with different name , what about ur age...are u still 37 years now and last year? My Friend get out here. I know u will blame me for wrong full insertion. God bless you, I thought I was the only one who noticed the post. I saw it sometimes last year on nairaland. |
Politics / Re: Patience Jonathan Must Explain How She Earned Billions – Sagay by Kooldude01: 7:24pm On Sep 11, 2016 |
Bullshit! they think everybody is as dumb as Buhari that does not have investments and business of his own. Sagay thinks $5m is to much for a woman that has been the wife of a deputy governor, governor and president. 3 Likes |
Politics / Re: Nigeria has finished me!! by Kooldude01: 11:28am On Jul 08, 2016 |
Ayo7:Sir pls consider me 0141025084 gtb Oyedele Adejare. Thanks |
Politics / Re: Nigeria has finished me!! by Kooldude01: 11:23am On Jul 08, 2016 |
Ymodulus:Sir pls help a brother in need, here is my acc no 0141025084 gtb Oyedele Adejare. thanks |
Politics / Re: Nigeria has finished me!! by Kooldude01: 11:17am On Jul 08, 2016 |
Ymodulus: 1 Like |
NYSC / Re: Breaking News:2016 Batch A (stream 11) Orientation To Commence Monday 13th June. by Kooldude01: 6:54pm On Jun 06, 2016 |
Ope O! i almost died of frustration. Iseyin camp here i come. |
NYSC / Re: 2016 Batch A Stream 2 PCM's: As We Await Our CUL This Week by Kooldude01: 12:59pm On Jun 03, 2016 |
Cooldude68:Got ya! how many cooldude's do we have on nairaland? Are u a PCM stream 2 member? |
NYSC / Re: 2016 Batch A Stream 2 PCM's: As We Await Our CUL This Week by Kooldude01: 12:52pm On Jun 03, 2016 |
If only they (NYSC) know how frustrated i am right now. i just can't wait |
NYSC / Re: Nysc Oyo A16 Stream 2. by Kooldude01: 7:21am On May 18, 2016 |
I'm Tosin posted to oyo state. 07067036557 |
Politics / Re: 5 Glaring Lies Said By The VP On Fuel Subsidy Issue. by Kooldude01: 1:36pm On May 14, 2016 |
Mods pls push this to the front page. |
Politics / 5 Glaring Lies Said By The VP On Fuel Subsidy Issue. by Kooldude01: 1:33pm On May 14, 2016 |
#1 Are Our Refineries Working
Or Twerking
VP: “What happened is as follows: our
local consumption of fuel is almost
entirely imported.”
So what happened to the 3 functioning
refineries? Or was it a lie? Reminder:
January 2016: NNPC spokesman Ohi
Alegbe said the Port Harcourt, Warri and
Kaduna refineries were producing a total
of 6.76 million litres of gasoline per day,
adding that this was projected to rise to
more than 10 million litres per day by the
end of January. Source: Reuters Africa
NOTE: Nigeria consumes 35-50 liters per
day on average. That means 20% to 33%
will be carried by our local refineries per
the above statement … so why the switch
all of a sudden? Have we been lying about
our refinery capacities to curry cheap
approval points?
#2 NNPC too Wan Join
VP: “NNPC exchanges crude from its
joint venture share to provide about 50%
of local fuel consumption. The remaining
50% is imported by major and
independent marketers.”
If this is true, why then is NNPC also
increasing their pump price? NNPC should
not require FOREX for joint venture share
exchange!
#3 ForexWahala
VP: “These marketers up until three
months ago sourced their foreign
exchange from the Central Bank of
Nigeria at the official rate. However,
since late last year, independent
marketers have brought in little or no fuel
because they have been unable to get
foreign exchange from the CBN. The CBN
simply did not have enough.”
This is not news, every sensible
Economist ( Naira: Sanusi backs
devaluation ) and even Engineer (even me
sef write article here ) since last year
advised us to devalue the Naira.
But we did not listen, despite the fact that
our foreign reserves were dwindling due to
low Oil prices we still said we would
stubbornly maintain an unsustainable
N197 to $1 exchange rate.
This, despite the fact that the black
market rate was running away we still
held it at N197. What this does is deplete
our foreign reserves much faster.
Now FOREX has almost finished, we are
now shifting the cost of poor economic
decisions by this administration to the
poor Nigerian man.
#4 Typographical Exchange
Rate Error?
VP: “We expect that foreign exchange will
be sourced at an average of about N285
to the dollar, (current interbank rate).”
So wait here I am confused. The official
inter-bank rate has always been N197.
But all of a sudden in the VPs message to
Nigerians it is now at N285. Did they just
devalue the Naira or is this a
typographical error?
Please epp me ask, so CBN can update
their page here.
NOTE: I actually think the VP made a
mistake and was referring to the N285
pounding sterling exchange rate and not
the dollar exchange rate. In which case it
is quite sad that no one could proof read
and catch this factual error.
#5 Government Still Trying To
Control Price
VP: “They would then be restricted to
selling at a price between N135 and N145
per litre.”
We did a similar restriction of N86.00, it
failed woefully. Why do we now think a
N145.00 will work differently?
How will the man transporting fuel from
Lagos to Kano still sell fuel at the same
price as the man in Lagos not
transporting anything? Its logically
impossible. What they should do is have
price restrictions per state or region … and
not try and restrict a price across country.
It just won’t work!
#6 Conclusion
At the end of the day, this is what
happened …
The current Government despite sound
advice from several Economists refused to
devalue the Naira while running a
propaganda campaign to make Nigerians
believe that our refineries were working
and everything was fine, gambling that the
Oil will rebound and cover up the lies.
Sadly Oil never rebounded and this
inevitably led to the fast depletion of our
Foreign Reserves. To the extent that CBN
could no longer keep up with the demand
from Fuel importers.
And now the government is shifting the
burden for their poor decisions to the
Nigerian people. Now I am not saying our
Vice President aka the ex-Pastor is telling
Lies … but all I ask is that he …
Words by Okechukwu |
Foreign Affairs / Re: U.S. Army Enlists Its First Infantry Woman by Kooldude01: 4:09pm On Apr 09, 2016 |
G I Jane. |
Education / Re: Proliferation Of First Class Degrees In Private Varsities The PUNCH by Kooldude01: 1:59pm On Apr 08, 2016 |
Fedayeen:Exactly bro! that was why Dr Buhari appointed a prof as a junior minister of education while a journalist was made a senior minister. |
Politics / Re: Reasons Why Police & Military Shave Their Beards by Kooldude01: 2:16pm On Apr 07, 2016 |
RichYoungNigger:Recently on CNN i read a news about a Sikh who was allowed to wear a turban and a beard while he was still serving as a captain in the US army. |
Politics / Re: PDP Behind Fuel Scarcity - Tinubu by Kooldude01: 8:38am On Apr 04, 2016 |
And the blame game continues, Tinubu is a big fool. 40 Likes 3 Shares |
Politics / Re: Sagay, Ezekwesili, Aribisala Clash At Roundtable On Corruption War by Kooldude01: 9:56pm On Mar 31, 2016 |
Femi nailed it! 1 Like |
Career / Re: 4 Crazy Things I Love About Being A Lawyer by Kooldude01: 7:14pm On Mar 23, 2016 |
Annalise Keating defence attorney, keep it up. |
Nairaland / General / Re: Why You Chose This Very Moniker by Kooldude01: 2:13pm On Mar 12, 2016 |
I got mine from my personality/temperament. I'am a phlegmatic, that explains my cool and calm nature. |
Politics / Re: Please, Who Knows When FG Will Pay January 2016 Salary? Its February Already by Kooldude01: 6:50pm On Feb 01, 2016 |
Patiently waiting for alert, dis Apc gov't is always late in everything. 1 Like |
Politics / Re: There Will Be No Improvement In Africa Until The IQ Of The Population Is Raised. by Kooldude01: 2:48pm On Nov 30, 2015 |
Following |
Politics / Re: Ben Murray-Bruce Visits His Constituency (Photos) by Kooldude01: 7:37pm On Nov 09, 2015 |
sandraokosun1:Hater why u hating? I'm Ben murray-bruce am just trying to make #commonsense |
Politics / Re: Taraba Judgement Clear Miscarriage Of Justice – Fayose by Kooldude01: 8:26pm On Nov 07, 2015 |
Apc is making a mockery of our judicial system. 1 Like |
Education / Re: 7 Easy Ways On How To Improve Your Knowledge by Kooldude01: 9:10pm On Aug 14, 2015 |
Noted. |
Nairaland / General / Re: 225 Hours Of Power Supply In Ten Days! by Kooldude01: 1:58pm On Jan 02, 2015 |
GEJ wan kill us with light for osun state. GEJ till 2019 iyalaya anybody |
Politics / Re: REVEALED!How FG Officials Turn B/Haram Ceasefire Plan into Multibillionaire Scam by Kooldude01: 4:20pm On Nov 19, 2014 |
Ok |
Nairaland / General / Re: It Is Not A Bad Thing To Hit A Woman. Read Why by Kooldude01: 8:28pm On Oct 31, 2014 |
OP what flavour of weed did u smoke? Is it janjanweed or ginger 1 Like |
Politics / Re: Amaechi Has Lost Decorum, Says Presidency by Kooldude01: 6:54pm On Oct 26, 2014 |
Amaechi is mad man. 5 Likes |
Politics / Re: Buhari Took Bank Loan To Purchase APC Nomination Form by Kooldude01: 8:46pm On Oct 17, 2014 |
��˵ Exactly it simply shows he lacks vision. |
Fashion / Re: Let's Sew For Fun (**valisimo Fashion School Online Classroom**) by Kooldude01: 9:49pm On Oct 09, 2014 |
Following 1 Like 1 Share |
Nairaland / General / Re: What Makes A Good Friend? by Kooldude01: 7:11pm On Oct 09, 2014 |
True friends are the ones that stay behínd to help clean ur mess when the party is over. |
Education / Re: 10 Types Of Lecturers You Meet In The University by Kooldude01: 11:45am On Oct 08, 2014 |
@ olodo one of my ECN lecturers comes to mind. |
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