₦airaland Forum

Retributionn:
[s]Oil that is now worthless

No. You will be under our authority

Nnamdi made more noise than this[/s]

OKorowanta:
[s]GEJ and almost all of our leaders are crazy.
Stop being sentimental.nor be only our son.
Our son wey rule country upside down.
If it's bad it's bad,if it's good we will admit.[/s]

flokii:
you still don't get it.. do you?

those states you mentioned didn't generate much controversies like this... with little or no violence/bloodshed

this is all d fault of GEJ and his illiterate wife.. engaging in electoral fraud like it's nothing

and people like ursef expect us all to keep quiet and smile..

peacengine:
90% of those names I see belong to Northerners. Unlawfully sacking VCs and replacing them with semi-illiterates.

Obiagelli:
Whose fault is that? Shut up, fix the budget and save us the embarassment

Sant1m:
[s]The price of the dollar now, has always been the real value of the dollar for more than 3yrs now, the price before now was sustained by corruption. what had sustained the price at close to 200 before now was our leaking CBN vault under PDP. The leakage under a corrupt PDP ensured that there was enough supply of dollars in the(parallel) or black market, the corrupt dollars flowing in then from NNPC, CBN, NIMASSA etc ooh $2.1b armsgate dollars all found their way to the hands of mallams , with these type of corruption, dollar was sustained around 200 in the black market because of illicit supply from those who opened our vaults and shared our money out to friend and relations. The difference now under PMB, is that by blocking leakages the supply to mallams have drastically reduced yet demand remains static, hence the pressure is pushing up the price towards equilibrium. The baned items by CBN is just to ease the pressure as we pursue diversification in the long and shout run. Under the PDP model of corruption supplying to the parallel market instead of incomes from production, we were only postponing the evil day, but under this deliberate and sustained effort, expect a genuine rebound in the near future, it will not go back easily to 200 in the parallel market. Investment and diversification is the only true way to go. The road to true nation building is deliberate, it takes a strong leader that will go against the status quo, it will not be perfect, as mistakes will be made but if PMB can help us sustain for 8yrs at least, people will start coming to Nigeria for school and medical tourism also. We shall get there [/s]

greatiyk4u:
Are u the judiciary that passes judgment?............u appear too aggressive in ur reactions to any thing that concerns Buhari...........are u truly a female?

tbaba1234:
You are just going in different directions. One thing is obvious, your knowledge of economics is limited. I already knew about the bail-out before talking about the mismanaged economy. How much does that amount to?? How much has the FG earned in the 4 years prior? What

The point is that our capacity to cope could have been better managed. We did not have the capacity to absorb a shock in Oil price after enjoying oil prices of over 100 for 4 years such that we had to borrow to pay federal salaries.

http://www.theheraldng.com/f-g-borrowing-to-pay-salaries-okonjo-iweala/

If that does not feel you with disappointment, then i can't help you.

tbaba1234:
Rehashed claims, Obasanjo faced similar pressure and stood his ground and Nigeria was better for it. One of the reasons given for the shared ECA was the mismanagement by government where money disappears without any explanation.

IF ECA was shared, what about the foreign reserves? Why was there nothing saved up in the foreign reserves?

There are no excuses for GEJ government when it comes to the economy. It was just pure mismanagement.

tbaba1234:
I am not talking about a single oil peak, I am talking about consistent oil prices.

You do understand the meaning of 'average' oil prices right. Abi you can not read a graph? By may 2010, oil prices were rising again..

Between 2011 and 2014 , oil prices were above 100 dollars consistently. That means that government's revenue was consistently high. 4 out of 5 GEJ years, we had relatively high prices.

This means that the government made more earnings from oil than any of the previous governments consistently.

Obj suffered low oil prices of $38 in 2008, it did not affect the country as much because he had accumulated money in the reserves.

When oil prices crashed at the end of GEJ tenure, there was nothing to cushion the shock. I am sorry but that is a failure of leadership.