Niceiroko's Posts
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Former Finance Minister: Ngozi Okonjo Iweala Speaks: I still find it funny that most people don't know why Nigeria economy went into recession, they love the incompetent lies 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 bad policy, but they find relief by blaming it on past administration and Gucci appetite of average Nigerians. For your information, if your president "continues" with his unguided rhetoric, Naira will go down to N1000/1 $. But we thank God, he is no longer talking. Copied |
stephenduru:Former Finance Minister: Ngozi Okonjo Iweala Speaks: I still find it funny that most people don't know why Nigeria economy went into recession, they love the incompetent lies 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 bad policy, but they find relief by blaming it on past administration and Gucci appetite of average Nigerians. For your information, if your president "continues" with his unguided rhetoric, Naira will go down to N1000/1 $. But we thank God, he is no longer talking. Copied |
[quote author=VictorRomanov post=64380393]It's easier to manage a barbing saloon since you won't be there in person. You just need to set up the place and let the barber(s) pay you an agreed sum weekly or daily for using your facility. They'll buy the provisions they need themselves. Make proper investigation on the minimum amount a barber can make and remit.[/quote pls do u know amount bn shared a week |
npowerng:fanny_suru@yahoo.com |
thorpido:the man married who he loves the woman married situation what you sow you will reap |
Foul play can last for 50mins sex can last for 5mins,it enjoyable at that time Williams2017: |
hisgrace090:There is no record on the birth of Jesus rather 25th is the sun god birth day but birth is to be celebrated |
RETIREDMUMU:its because it his sin and you can't continue bcux God is nt happy wit it |
menxer:who stopped this your comment now because nobody cares what you pen down here ,wise up |
Please the distributing of the device not yet in Delta State .thanks npowerng: |
sarrki:are u d owner of Nigeria? |
Jesusloveyou:jesusloveyou don't insult my Jesus pls change your profile name |
thorpido:Fish Can Lie—And Spot Liars An electric fish inflates its size to neighboring fish to reduce competition and attract mates, experiments show. |
flyca:Christ he has come to bring confusion ,father will disagree with son,understand the times |
sarrki:what happens to Yemi the acting president |
The way this man went ,thats what they are pushing Buhari to be, please Buhari resign and enjoy your life CROWNWEALTH019: |
SUNDICOS:Repent and accept Jesus ,the place you used yo go ,go not again,the words you used to used stop them |
broseme:he is not a lion,he should be caeful |
Perspectives:. marriage is God's institution ,pray to God always for help |
drshrewd:its maturity and its his right to get awarded as fmer gvnor or was OBJ not awarded by GEJ |
debchi:its not also yahoo n ritualism |
abescom:what has buhari done nothing,the terrorist agree to release the girls all for d sake of d north if real |
obamabinladen:Buhari is sick and he needs rest other wise he go just die for nothing der go carry he body go police station and say he die e wrongfully |
dingbang:naija dey vex oo, |
what a goal from the merciless Messi |
Abudu2000:. stop this hate,2face motivated the protest, mobilize Nigerians for protest if any body will listen to you |
Georgville: |
Georgville:I can feel the blackmailer here |
NLProblemChild:is ur parents still alive |
emefav:if you see your wife on market day you will loose on the market day gb |


