₦airaland Forum

If APC fields David Lyon the party may end up having 2 or 3 senators in the state. There are several politicians that could challenge Dickson is Bayelsa West. One of such is Lokpobiri and Perembowei. It wouldn't be an easy ride for Dickson.

Emu4life:
Don't tell me Buhari is doing well economically.

He is not! Not in anyway, South Africa's economy is better developed. Meaning there is a lot more room for growth here. Instead of being on what I call the "defensive ", Nigeria should have been on what I call the "offensive ", because of Buhari Nigeria will probably lose at least 2 decades of growth. With the exception of Shagari, Nigeria has always done badly when Fulani were in charge. Buhari, Yar'Adua and again Buhari. They were always bad for Nigeria's economy.

https://nairametrics.com/2020/03/03/sp-downgrades-nigeria/

[S&P Global Ratings agency has downgraded Nigeria from stable outlook to negative. The rating agency confirmed this in a research update published on February 28 2020.

Why the downgrade?
According to the update cited by Nairametrics, the rating agency claimed it was revising the outlook for Nigeria from stable to negative owing to a string of issues befalling Africa’s largest economy.

Nigeria’s economic growth remains weak, slower than that of several peers at a similar rating level. Weak growth, sizable public debt, and external pressures are all weighing on Nigeria’s creditworthiness.
Foreign-exchange reserve levels have fallen from $45 billion at mid-year 2019 to $38 billion at end-2019 and $36.5 billion in February 2020.
The Central Bank of Nigeria (CBN) has been issuing bills, which have attracted foreign investors. About a third of foreign-exchange reserves are derived from nonresident holders of these CBN bills, positions we consider to be vulnerable to a change in investor sentiment.
Owing to the late passage of the budget in 2019, government funding pressures resulted in increased financing from the central bank through overdraft facilities.
As a consequence of these pressures, we are revising the outlook to negative from stable.

[READ MORE: KPMG reveals 7 Fault Lines that may distort Nigeria’s economy in a new decade)

The rating agency also had some positives for Nigeria
Increased nonresident participation in domestic markets has been driven by the more-open, liberalized exchange-rate system since April 2017, as well as relatively attractive returns on the CBN’s bills. This has, in turn, helped to boost foreign-currency reserves.
The prompt passage of the 2020 budget–the first time it has been passed before the start of the fiscal year in several years–also provides the government an opportunity to raise external funding through commercial issuances or concessional funding if required, supporting FX reserves.
Over our forecast period, export revenue could see some upside once production from new oil and gas fields comes on stream. Imports could reduce due to the current crackdown on smuggling of goods across Nigeria’s borders with neighbouring countries, as well as import substitution measures. This will help the current account move back into a surplus averaging close to 1.8% of GDP over 2020-2023, and thereby reduce downward pressure on reserves.
On CBN maintaining FX reserves
There have been some outflows from nonresidents in 2019 in line with other frontier and emerging markets; however, the firm interest rates in the CBN market will likely ensure they remain attractive to nonresidents.
If nonresidents remain in the market, central bank reserves should stay broadly around current levels of five months of current account payments.
The prompt passage of the 2020 budget – the first time it has been passed before the start of the fiscal year in several years – also provides the government with an opportunity to raise external funding through commercial issuances or concessional funding if required, supporting FX reserves.
[READ ALSO: Nigeria’s economy can’t survive without diaspora inputs, says PwC Chief Economist)

What this means
S&P is one of the leading rating agencies in the world and is relied upon for investment decisions in frontier and emerging markets. The negative ratings signal a possibility of a costlier debt round should Nigeria proceed with its Eurobonds. Foreign investors could demand a higher yield on the back of a higher risk rating due to this downgrade.

It could also worsen the situation for the Nigerian stock market, which relies heavily on foreign investor inflows to boost demand and prices of stocks. Foreign investors have largely avoided Nigerian stocks due to policy inconsistencies on the part of the CBN.]

My take is that they've been too patient with Buhari's government. The downgrade should have been done long ago. Nigeria under Buhari lacks direction. No one in government or outside government can tell you what his economic blueprint is.

People won't understand it! As an Ijaw man I can understand how it feels to be accused of forgery for something that was no fault of your own. Some of the certificates were most likely prepared by non-Ijaw people. Hence the abbreviation.

In as much as Ijaw people don't like APC, people wanted APC this time because of Dickson's high handedness.

Sometimes you wonder what kind of people pass judgements in Nigeria!

That was how they imposed Amaechi on my state without election.

PFRB:
Can you seperate Okrika from Igbo? Try and see.

Please NEVER connect Okrika with Igbo!
We are IN and OUT Ijaw.

I wonder why you guys never getting tired of claiming people.

After the summit when will the 'next level ' agenda be fulfilled?
Indeed, non performing 'leaders ' are those Nigerians truly deserve. I wish the Ijaw nation was not part of this. It is sad being forced to share same country with such beings.

Babacele:
shouldn't you be grateful to God that He brought PMB in 2015 or else would you have the freedom of mind and space to come online to express your opinions if those who couldn't managed $120/barrel proceeds ;who deliberately didnt control Bokoharam; neither give us electricity but fraudelent Discos ,nor diversified the economy; those who heartlessly sacrificed poor youths in that evil immigration job scam , or who encouraged thieves in public offices to steal ' well,well' because " stealing is not corruption" , or the thinking that stole defence budgets thereby encouraging insurgency ,etc had continued in government.

Think about the consequences of what we saw coming before kicking out your PDP disaster. Just think about that.

You saw nothing coming! Stupidity made you settle for the worst government in Nigeria's history. You guys distort facts to back up your evil narratives. When you talk about $120 per barrel I wonder which government you mean, Obasanjo's, Yar'Adua's or Jonathan's.

What was the output? What factors or players played a prominent role in how funds were disbursed?

How much did previous governments borrow and how did they avert recessions in the past.

Very good question!

Tinubu should go and rest. If he wishes to waste his ill gotten wealth he can forge ahead. Nigerian will be ready to help him waste it.

Owodiran1:
no sir. He ordered the release of Yusuf. Before the order was received. Police has carelessly killed and butchered Yusuf mercilessly. By that he was already critically ill. Jonathan was the interim then

Lies! Yusuf was killed when late Yar'Adua was fully in charge. I wonder why some of you try to distort history.

obembet:
To me, I will prefer sharing the money to all of us and we can go and protect ourselves. �

Lol!
Funny but not far from our reality.

pdppower:
Very true. He was the first and only president to review downward the price of petrol in Nigeria. He had other good plans but unfortunately death did not allow him to actualise them. Continue to RIP.

That was one of his greatest mistakes! Leadership is about making tough decisions, not populist decisions.

AFONAMARO:
I've seen what exactly is wrong with you.
Fornication advocate

Polygamy and fornication is not the same. That I tolerate polygamous people doesn't mean I am one.

myobjective:
I agree with you those oil-producing states deserve to keep all the money earned from the crude oil in their land but we must also ask what they have done with meagre giving to them.

What has Nigeria done with the much they took? Have the peoples of the Niger Delta been answered when they ask on the quantity of gold, rubies, lead and other solid minerals you've been mining and taking 100 percent. You've not answered that yet you insist you must receive account for "13 pecent" allocation you give them from all you are stealing.

gidgiddy:
Cowards dont fight. There were 4 Regions. The Northern Region decided to make the other 3 Regions their slaves. Only Ojukwu and his Region said no and fought for 3 years

So if you think Ojukwu was a coward to have fought for 3 years and ran away

What do you call the other 2 Regions who surrendered to the dictates of the North because they had no fight in them?

It is better to be an Ojukwu who fought for 3 years and ran away than to be those who ran to be slaves because they were too scared to get up and fight for their dignity

How did they?

Ojukwu was driven by selfish ambition. How would you feel if somebody invaded your homeland? That's exactly what Ojukwu did to the Midwest. I am sure the West also felt threatened. Minorities in the defunct Eastern region didn't feel any better too.

helinues:
Had been it was easy to do, OBJ could have done it in his 8 years as president.

Restructuring in Nigeria will take at least 15 years, that's only if the Nigeria states are ready to find a means of generating their own income instead of waiting for free oyel money..

Bayelsa state with population of 3 million have been receiving 13% cut on oil for how many years now? We are talking of billion of dollars.. Where are they? Any developments to show for it?

You did the census to ascertain Bayelsa 's population?!

What does your stinking state contribute?

Leave us alone!!! Leave the Niger Delta alone!!!!

Instead of coming up with sensible solutions you talk trash!

What is 13 percent compared to 87 percent Nigeria takes from Bayelsa?

Have you been to Bayelsa to see the challenges? If you have, do you know her history?

gidgiddy:
Cowards dont fight. There were 4 Regions. The Northern Region decided to make the other 3 Regions their slaves. Only Ojukwu and his Region said no and fought for 3 years

So if you think Ojukwu was a coward to have fought for 3 years and ran away

What do you call the other 2 Regions who surrendered to the dictates of the North because they had no fight in them?

It is better to be an Ojukwu who fought for 3 years and ran away than to be those who ran to be slaves because they were too scared to get up and fight for their dignity

I wonder why some of you are bent on rewriting history.

Just like the Northern region, the Eastern region was oppressive. How can people ask for what they prevented others from getting?

AFONAMARO:
And to think you are a woman, speaks volume of your interest and values

What is wrong with some of you?
Learn to be tolerant, please.

If she supports polygamy let her be. Polygamy is better than all these promiscuity within our society.

TheChameleon:


Kai. Africa (not Nigeria only) is centuries behind.

We see Center for Diseases Control CDC containment labs in movies....

See this one with mosquito-control net

I hope Covid 19 wouldn't take root in Nigeria. With our dense population and poor infrastructure, our death toll might be higher than even China.

GEJ was clueless but at least he had a few competent people around him.... I never thought anyone could even beat him as a failure, but PMB is making a very strong case..

GEJ is one of the most successful presidents in Nigeria's history! If you call him a failure, what would you call Obasanjo?

At least I am glad everyone can now see why we opposed Buhari in 2015. We knew he would fail but we never expected it at this scale.

Gnaeusmagnus:
Good, then if your wife or girlfrend walks out on you if you cheat...no problems too?

No problem, I will understand any woman who decides to leave me if I cheat on her.

Gnaeusmagnus:
So you would have applauded and stayed cool if your wife or girlfriend slept with another man....since the logical extension of this your comment is that men who complain when their wives sleep with other women are violent and insecure too....

[God forbid!] If it happened I wouldn't have problem with the other person. If I would have any issues, it is with my partner.

Anyway, that would be the end of the relationship but cheating is no reason to be violent.

All these women who attack other women for having sex with their husbands just prove their husbands shouldn't be with them in the first place. Who likes a violent, insecure woman? I guess none!

asobo:
LindaIkeji said she can't wait to go through this journey again. Mogbe #

I taya!
With who self?

Backed by which legislation?

helinues:
The question is Have any of the party learnt their lesson from the civil war?

Neither the Igbo, Yoruba or Fulani seem to have learnt ANYTHING tangible from that war.

BeLookingIDIOT:
For the sake of fairness,it's time a northerner is appointed to this position

Are you alright?

I guess you meant, bullet energy drink. Otherwise why should one do that?

mansakhalifa:
I remain calm...

We've been here before. Only this time, Sawyer happens to be an Italian.

But how come nobody thought about how quickly the virus had been spreading around Italy?

I've been watching it all along myself but I guess the "authorities" were too fixated on China to be worried about other countries like Italy and Iran. Now, it's hit us from the direction we were not quite looking in.

Now, it's time to roll out the ebola virus playbook and deploy all the strategies contained in that very book. And the script must be followed to the letter.

Is it Buhari's government you expect to do that?
Just pray it doesn't spread! This is the worst government in Nigeria's history.

[Dangote Cement reported a profit after tax of N200 billion representing a massive 49% drop in profits from a year earlier. The drop in profits was mostly driven by stunted growth in its local and Pan African businesses.

Segment performance
Nigeria: The cement giant reported revenues of N610.2 billion in 2019 compared to N618.3 billion a year earlier. Profit after tax was N275.1 billion in 2019 compared to N491.6 billion in 2018. EBITDA, a notable performance measure for institutional investors was N361 billion down from N397 billion placing operating expenditure as the major drivers of profitability drop.

Pan Africa: The cement giant reported revenue of N891.7 billion compared to N901 billion a year earlier. Revenue from business outside Nigeria was N282.7 billion compared to N283.2 billion a year earlier. However, it continued to report losses from its Pan African business with a loss after tax of N85.2 billion compared to N87.8 billion in losses.

[color=#006600 Border closure to blame:[/color] A report from Reuters revealed Dangote Cement blamed the border closure for affecting exports to other African countries thus hurting top and bottom-line growth. Outgoing Dangote Cement CEO, Joseph Makoju reportedly blamed border closure for leading a drop in exports from 0.7 million tonnes in both 2018 and 2017 to 0.5 million tonnes in 2019.]

For those saying the border closure did not affect Nigeria, please read this!

Mbilla:
Will you hut up. Don't talk what you don't know.

Abeg find place siddon, take your favourite beverage chilled and cool ur temper! U can't learn anything new with ur currently biased mindset

FManager:
Seems your a Ghanaian, also these people have been harsh towards Nigerian traders way before the border closure.

Ghana need serious embargo place on her for her lack of respect to other foreign African countries.

I am Ijaw. I don't support what's wrong. Don't have any ties with Ghana.

hammerU:
[s][/s]

TRASH, KEEP RUNNING FROM PILLAR TO POST.

BUHARI HAS DONE A GREAT JOB.

LASTTIME, HE WAS STIL THE SAME PRESIDENT THAT DEALT WITH THE GHANIANS AND HE CAN DO IT AGAIN.

Ignorance dey worry you! He is dealing with ignorant folks like you, not Ghanaians. Thank God all my earnings are not in Nigeria.

hammerU:
[s][/s]


NIGERIA IS BETTER OFF FOCUSING ON ITSELF AND BULLSHITING THIS ECOWAS THING.

GHANA HAS PROVED THAT WEST AFRICA IS NOT RIPE FOR FREE MOVEMENT OF PEOPLE, GOODS AND TRADE.

GHANAIANS ARE WAY TOO BACKWARD AND PRIMITIVE.

IF WE CAN REMOVE GHANA TO SOUTH AFRICA, WE WILL HAVE A BETTER ECOWAS, FREE OF TRIBALISM.

LET ME ASK U, Y IS IT THAT AN AVERAGE GHANAIAN MAN CANNOT MAKE A SENTENCE WITHOUT MENTIONING NIGERIA?

DEM TAKE NIGERIA DO JUJU FOR UNA?

Ask them. I don't know if that is the case.

Nigeria is full of tribalism. Deal with those issues too.
Africa's primary problem is Nigeria. Until Nigeria stops putting ethnicity and religion before everything else, the likes of Buhari will hold away and cause disaffection that leads to actions like this.