Obailala's Posts
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BigIyanga:Bia nwanna... I thought we were talking of the issue of savings by GEJ and your accusation that Amaechi was responsible for GEJ's zero will to save?... Last time I checked, that was what the discussion was all about but the way you've totally avoided that discussion as if it has leprosy and resorted to general criticism of govt is quite amusing. ![]() Guess what? ... I agree with you, the govt is useless, but can we please focus on our first topic and conclude on the original argument before we divert to another topic? |
VULCAN:Mr man, I wasnt double speaking when I mentioned that lack of forex is the cause of the economic crisis. I shouldnt have to explain to you that the oil crisis is the cause of the forex scarcity, even a child on the streets knows this so I'm suprised a self acclaimed finance expert thinks I am 'changing stance' when I mention 'oil crisis' at one point and mention 'forex scarcity' at another instance. It's a pity, but if you do not know the relationship between the two, then I would be wasting my time trying to argue with you. I would assume you know better but only made the 'double speak' accusation just for the sake of arguments; so I would ignore that. Regarding Sanusi's speech on GDP, I would attempt to break it down for you and I believe it should be simple to understand if you put political sentiments away (not every topic should be analysed politically). The fuel tank may be a tiny part of a car, but if it is punctured and the fluid leaks, the entire car would be grounded. Oil or the oil industry may make up only 15% of Nigeria's GDP, but this same oil supplies 93% of Nigeria's entire forex income. Remember Nigeria is pathetically an import dependent country that imports almost 100% of its energy (petrol and diesel)?.... Anything that affects the flow of forex, affects the exchange rate and the exchange rate influences the inflation rate and in all, the availability of forex influences every other part of Nigeria's GDP. In essence, that tiny oil industry produces the life blood which drives every other sector of the country; kill the oil industry and watch as every other sector (which depends on that forex coming from the oil industry) withers away as is currently the case in Nigeria. Hence why several economic experts have always called for diversification of Nigeria's forex income source so the nation's life would stop being tied to just oil, oil and oil. So a little advice, try and use your education better than just listening to the words of one economist (which you didnt even underatand) and moulding your opinions based on it. I dont have to be an economist or a finance specialist to understand this. |
ephi123:Sorry dear, it's always necessary to read and understand the basis of an argument before joining to give your opinion. But you are forgiven, cos we all guilty of jumping into arguments without reading at one time or the other. ![]() Secondly, budget figures can change for different reasons, there might be a need to fund a particular project and that could easily change the budget figure for a ministry or parastatal or the presidency (which includes EFCC, DSS etc). So saying the presidency budget changed from 6bn to 39bn without highlighting details of why, that's an empty diversionary comment. Thirdly, the over the roof borrowing is simply because of the low government income. I just read a report which stated that only roughly 50% of monthly revenue target was achieved in January 2017, that explains the reason behind the wild borrowing to stay afloat. And yeah, it's still not enough, even when Nigeria was making all the billions from high oil prices, how many projects could government commission?... Yet you expect a miracle now when revenue is low?... And lest I forget, the main reason behind the blame game is cos the incompetent thieving rogues who plundered the nation and exposed us to the current crisis still have the guts to shamelessly keep opening their smelly mouths to blame the current govt which is struggling without success to resuscitate the comatose economy they handed over. Most of the blame game you see is purely in RESPONSE to criticism coming from the very same old rogues. Just to clarify, the only reason I'm talking about GEJ now is cos the dude I quoted erroneously, provocatively and ignorantly quoted that GEJ wanted to save but that Amaechi and co stopped him from saving. |
BigIyanga:Revisionism at its best??... I challenge you to point out a single sentence which I wrote above which is wrong? What you have attempted to do here with your response is diversionism at its Now instead of remaining focussed on the argument and addressing the core issue at had, your best response was to start mentioning names of some sleazy APC governors and quoting presidency budget?... How exactly does this your digression address the issues I pointed out? Oshiomole taking a loan to work in his state, how exactly does that invalidate the fact that the last admin refused to save a dime and left Nigeria exposed to terrible economic weather? You claim the current government has accumulated more debt in 2 years? Oh yes! and the reason for all that borrowing is very clear. Due to the crash in oil prices, there's been an over 50-60% drop in the revenue accruing into the nation's coffers and in order to checkmate the recessionary effects, the wisest thing to do is borrow money to fund CAPITAL projects. But the real question you should be asking is, the last government which enjoyed UNPRECEDENTED OIL INCOME EXPLOSION, for what reason exactly did they have to borrow all that they did? ...and for what reasons exactly did they have to deplete the nation's reserves/savings which they met even though Nigeria made far more money at the time?... We all recall that by February 2015, they had to borrow over $2 billion to offset RECURRENT expenditure including SALARIES. How do you explain that? @ephi123 Did you even read through our comment trail before you got excited and jumped in to endorse his diversionary reply?... I doubt you did, cos I know you to be more objective than this. |
I'm confused! dont know whether to laugh or to cry. ![]() |
VULCAN:Are you aware that the chief cause of Nigeria's presently economic crisis is the dollar scarcity and its consequent effect on our exchange rate? Are you aware that oil still accounts for about 93% of Nigeria's forex earnings? Before you go out to make analysis based on complex GDP figures which you have no clue about, you should first try and educate yourself on the most basic economics. |
BigIyanga:There were 36 governors who prevailed on the FG to release the part of the ECA money belonging to states in 2010. In the first instance, it is a lame and laughable defense to single out the only opposition governors you knew then (Amaechi/Fashola/Oshio) as the culprits, cos at the time up to 80% of governors were still in PDP. Meanwhile, this agitation by the governors had been on since the days of OBJ and even your favorite governors (Amaechi/Fashola/Oshio) weren't even governors then. The governors back then actually took OBJ and Yaradua to court for this very reason, but since OBJ and Yaradua had the political will and wisdom to save, they bluntly declined the request and dribbled the governors. Fast-forward to GEJ era, and he instantly yielded to the pressure and shared the money. Now why did GEJ yield so easily?... 1. He had zero political will to save anything. This was confirmed by Okonjo Iweala even though she later came out to deny her statement claiming that she was misunderstood 2. Whilst the agitation by the governors was still on, the FG under uncle Jona was caught red-handed pilfering billions from the said ECA funds which it was advising governors to save. After being caught, the FG lost the moral standing to keep withholding the funds from the states. 3. GEJ used the decision to share the money as political leverage to win the support of state governors in his 2011 election bid. Another point to buttress No. 1 above, since you claim the governors are the ones who didnt want to save, if GEJ had the slightest will to save anything, how come he also squandered the FG's share of the ECA after the states had taken theirs?.... FYI, the FG's share was over 50% of the entire ECA fund (over $10 billion). How come Nigeria's forex reserves which were over $40 billion when GEJ took power was reduced to less than $30 billion at his handover even though he enjoyed far more forex income than all other Nigerian leaders (including Buhari) put together?... LAstly, how come Nigeria's debt profile grew astronomically in this same period even with the unprecedented forex income at the time?.... The Amaechi/Fashola/Oshio ate them too? Meanwhile the money used to bailout states was only paid up by LNG after GEJ had left office, so it's meaningless to even allude that GEJ saved it; as at February 2015, GEJ was already borrowing to pay salaries and Iweala had already warned Nigerians to brace up for a wild storm. |
LatestAmebo: ![]() This statement just cracked my ribs ![]() |
kikake:VEry ignorant analysis, no offence. Nigeria went into recession because its leaders refused to diversify its source of income away from only oil and because of Nigeria's inordinate lust for imported items (including every drop of petrol we use). In such situations, you will definitely be in trouble when something happens to your only source of forex income. Only saviour would be if you had forex savings (as wise leaders and nations do). Nigeria's only saviour during the last major oil crash in 2008 was because smart leaders had saved over $60 billion in reserves (which was used to buffer the economy). In 2008, it cost Nigeria $20 billion to ensure we didnt fall into recession and that was despite the fact that the oil crash lasted roughly 6 months. The current oil crash has lasted over 2.5 years and the last admin (which received monumentally high income) didnt save a dime, rather they squandered every savings they met in their fraudulent 'transformational agenda' which didnt see any major roads of power plants or refineries being commissioned. Only ignorant folks feel the biggest blame for the current economic crisis should go to the leader who took over when the crisis had already started. |
lagosrd:Don't people even get embarrassed when they make these kind of statements in public?... WHo uses the words 'GEJ' and 'save' in the same sentence?... What kind of self deceit is this?... GEJ wanted to save in a joint account, but he was busy siphoning money from the very account without knowledge of the governors. GEJ wanted to save, yet after governors pulled out theirs from the shared account, GEJ squandered the FG's share which was over 50% of the total joint savings. GEJ wanted to save, yet every other account where the FG saves money was run down completely during his tenure GEJ wanted to save but after meeting insignificant public debt, he astronomically increased the nation's debt before leaving power (including borrowing to pay salaries in 2015). And all of the above happened irrespective of the fact that his admin received the highest income, actually more than all other regimes put together. |
9jasave:Well, I think he can be excused for the wristwatch issue, he may actually not be lying about owning that watch for 17 years, but he obviously concealed the fact that he's got other watches (maybe smaller watches). |
Nowenuse:I concur... Obi is even more experienced and trusted in leadership/administration than Osy. |
PEter Obi still remains more credible than a multitude of southern politicians and leaders (past and present), and all the current 2019 presidential aspirants. Under the current circumstances considering the already known 2019 aspirants, I would gladly give my vote to Obi. |
ChuzzyBlog:Vulcanizers make pretty good money, more than many people sitting in offices claiming to do white collar jobs. The only issue is the lifestyle and personal perception. When a man sees himself as a mere vulcanizer, a nobody, a failure, and then starts living the hand-to-mouth lifestyle, having no savings etc, then thw mindset and perception of self becomes the real let-down. |
Category1: ayindejimmy:You would be shocked to know that all the sugar you consume in Nigeria are actually imported. Companies like Dangote and Flour Mills actually import the raw sugarcane extract and the only thing they do in Nigeria is process it, package it and then sell as Nigerian sugar. Huge shame! But all that is changing now, dollar crisis and cbn's policy of releasing forex to only 'serious' businesses is now resetting the brain of these companies. Dangote and floir mills have recently set up massive sugarcane plantations in Nigeria to get their own extract locally. |
Greatigbos:You who has a 'direction', where has that your so called 'direction' taken you in life?... And since when has having a sense of humour become dumbness or directionlessness? #Oversabi! |
Lol... the book has already been shared like bread on Nairaland ![]() |
"...nothing kills erection better than a good sermon." ![]() |
nawtyme:Restructuring can very well work out in Nigeria and restructuring is far more achievable than outright secession. However, restructuring can only work if the southern block calls for it in unison. I've heard so much about northern population and dominance in the national assembly, but in 2011, with all the support the core north (NW/NE) gave Buhari, he lost woefully (by over 10million votes) to GEJ and that was because the 3 southern zones and the middle-belt voted GEJ. Most of the the north-central/middle-beltans are equally sick and tired of the far north's domination, the Fulani invasion and annihilation of middle-belt communities also is a catalyst for this discontent, and the middle-belt would happily support a push for restructuring if and only if the south gets its act right. In summary, just like the Kenyan anti-corruption activist Prof PLO Lumumba said, "Africa would get it right the day Nigeria gets it right." Similarly, restructuring in Nigeria can only be possible the day the southern block finally decides to suspend its differences and speak about restructuring with one voice (something which has never happened in Nigeria's history). Fact is, the hindrance to restructuring has never really been the north. |
sirusX:Well, she didnt expose his name or his number in the sms she posted... so there's no way UBER will kbow exactly which driver did it out of their thousands of drivers. Truth is, she actually appreciated the message and posting it on snapchat whilst trying to sound unimpressed is just a way these girls show off. |
baddosky1:Bro, there's no point denying reality, a lot of Nigerians have the get-rich-quick mentality and a lot of Nigerians are actually involved in these illicit trades and 419. Of course there are also a large number of us doing legitimate businesses and doing very well, but remember even a drop of paint can pollute the whole bucket of water; and may I add that the number of our people in Malaysia/Indonesia etc involved in 419 and drugs constitutes way more than just a drop of paint. Forget you analogy about why Nigerians aren't being caught in developed countries like Holland, France, Canada and even nearby Japan, the fact is that if I wanted a 'safe' place to practice an illicit trade, I wouldn't dare go to those developed countries where I know I would be sniffed out instantly and jailed. There's a reason why most criminally minded people prefer the Malaysia/Indonesia/Thailand axis, and that's cos the undeveloped nature of those places gives them sanctuary. A shameful fact remains that an embarrassing number of our young guys based in those countries claiming to do business or study are actually crooks. |
decatalyst: geekybabe:Conflict of interest I guess. I'm sure the UBER rules prohibit him from hitting on his fares, he's aware of the rules, hence his plea for her not to report. And yeah, the text may not exactly be romantic to everyone, but a simple text like this could actually brighten someone's dull day out there. |
Chaii... The dude had to beg for non-disclosure first ![]() Thank God she didnt expose him. |
timidapsin:I am very embarrassed |
dragonking2:You made a simple and clear statement which was obviously flawed, I stepped in to correct it. There is nothing wrong in that, I'm sorry. Two things i have deduced from you. 1.You are very confused. 2. You are a big but bad liar.Just like I pointed out earlier, a lot of people listen/read just to 'reply', they don't bother to comprehend before jumping to drop responses. Now go back to the origin of our argument and read through my comments again (slowly this time). I clearly agreed with your post about the dude being calm headed prior to 2015, and I rightly pointed out that his transition was due to the severe backlash he received from the venomous tongues of a multitude of angry jonathanians all because of his very vocal support for Buhari. I also pointed out how the angry plebs threw decorum to the wind and kept mocking victims of herdsmen attacks in Benue all because Benue chose to support Buhari over their Jonathan; they also made sure they mentioned his name whenever they penned down their foolishness. Those incidents were the genesis of his tirades and not your 'blind support for Buhari' theory. EoD If you paid attention, you would have picked out that all I wanted was to deflate your 'Buhari Support' theory. But you kept dragging a simple clarification into pointless territories by asking for evidence and also bragging about having evidence. ![]() We all know that he isnt berem nor oremusantus but it is assumed that he, berem and oremunsantus are matured when campaigning for their various candidates which only him has failed to show. As for the last bold, it is your opinion that Buhari wasnt at fault, also it is my opinion to say that Buhari is responsible for his breakdown. Everyone is free to have their own opinion, however, if you want to tell me mine is wrong then you have to back it up with proof. This has been mine stance and i still maintain it.Everybody suffered backlash, you can't imagine what I go through till date in the hands of family and friends especially for being an easterner who strangely supported 'an enemy.' But then like I said, everyone is different in the way they react to these things; however it would be unwise for anyone to compare my case (or berem's) to omenka who was mocked by some fools whenever there was a tragic attack by herdsmen in his state. |
2dugged:Wisdom! |
Hardeysolution:Bolded part above is a very wrong assumption. Love is involuntary but caring for a person is a decision. A man might 'decide' to care for his wife and his kids because he's generally a caring person and/or cos he chose to do the right thing expected of a responsible person. But that doesnt automatically mean he loves her, love is a different ball game. |
dragonking2:"Buhari has messed him up with hate, bile and bigotry." The above was your original statement and my first comment was just to clarify your obviously erroneous assertion about 'Buhari' being responsible for his reactions (hence I termed it a contribution). You made a comment about his resort to bigotry and I pointed out the real reason he went that route, being the extreme backlash he suffered in the hands of deeply pained Jonathanians. To the second bolded, I will remind you again that it is even dumber when you make statements without back up. You think when you post a screenshot i wont scrutinize or make my findings? You dont just barge in, make a sensitive "comment" and walk away without being challenged. You should know that, i believe that you aint a kid although am having second thoughts.The joke is on you bro! The last time I checked, you were the one who made an accusing statement about witnessing tribal bigotry from him before the elections; I clearly told you I didnt witness any tribal bigotry before the elections. But instead of bringing up evidence to support your accusation, you've been dancing aroundin circles asking me (who keeps telling you I didnt witness any tribal bigotry) to provide evidence. So which evidence exactly do you want me to provide?... I'm still amused at how an acclaimed adult can't still figure out the dumbness of this his request even 24 hours after. To the third bolded, it is a shame that you are trying so hard to avoid the truth. Berem did exactly what omenka did during the campaign period, at the end they both lashed out. Well like you said and which I agree, all human have different ways to respond to backlash, the sorry part is while others handled the situation maturely, your buddy omenka was childish while handling his.He isnt berem and neither is he oremusantus, so you wouldn't expect everyone to react the same way. But the only point I tried to straighten out was the meaninglessness of your claim that Buhari was responsible. |
And here I was, thinking this sort of weird events only happen in Kenya. ![]() |
malton:Nothing could be truer than this.. |
The very set of people (Jonathanians) who lament about APC playing the blame game, these people usually come up with the most ridiculous fors of blame games. Anyway, I we keep learning new things everyday; now I know it was the US, UK, France etc. that actually stood under the sun to vote GEJ out. |
oshe11:Who is borrowing to pay salary? |
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