Neutralobserver:


You can curse me for as long as you want, and you can call me names for as long as you want, but I am here to tell you today that Nigeria's economic 'progress' and 'crisis' cycles since 1973 have been dependent on the price of oil, and we are going through a negative cycle.

It has nothing to do with politics, but with the kind of economic practice in this country. We spend a lot during times of plenty, and take loans to make up the losses duing the time of loss.

I leave you with this quote from an article in 2004. Don't read it please.



All I can add is that Buhari is not doing the right things now..like cutting subsides on fuel and power...which would attract investment and jobs and revenue both directly and indirectly into Nigeria, and improve our economic sector....because he wants to stay in power, and does not want people complaining of rise in prices . So we continue with what was done before, OLD bad habits...and run away from reality.

You Nairalanders should read more. Not everyhting is PDP and APC.

CocoaOla:
Oga you don't want to have sense
We are talking about Devaluation and inflations
Here

What have Nigeria government gained from Devaluing the naira and increasing commodities tariffs only chasing away investors and making Nigerians poorer

China have economic foundation and infrastructure in place that why Devaluation is working for them

Nigeria need to put the structure in place before Devaluation we work for the benefit of everybody we good human development
Nigeria human development index is one of the lowest in Africa go and check the index
We need stable electricity first for local industrialisation

We need good business policy that favour all not monopoly

We need good justice system

Before Devaluation and high tariffs will work for for the benefit of everybody

I spend 3millions on diesel every month for my own business

I'm planning of relocation the rest to Ghana before the end of this year you know people will loses job

ou are talking about oils
How can a whole country be importing it own refined crude oil you know how many billion of dollars Nigeria is losing by that act alone

No amount of naira Devaluation high tariff can save Nigeria economy if the right infrastructure is not put in place


It will only chase away investor and increase crime or turn Nigeria to another Somalian and Zimbabwe

Abagworo:


Even though this is half truth when you compare prices of 1999 and 2015 you will laugh at Reno. Fuel was 25 Naira when PDP took over and was 11 Naira just a few months prior. Dollar was 22 Naira to 1.

Frontail:
. Na same recycled mugus dey Run things

Neutralobserver:


Nothing because devaluation only works if you are an exporter of industrial goods and services...like Japan and even CHina. It does not work for Nigeria because we export oil, whose prices we cannot control.(We cannot set the price of oil...it is done in London and New York and by OPEC )
You are very wrong for using GSM to compare thousands of business sectors in Nigeria and micro-econimic sector

Where is Nitel




And 51% of chinese people live in poverty. They are prosperous yes, because they don't have oil or many resources to export...so they focused on industries.
Nigeria, where you people beleive in importing, importing!...



We don't have stable power because DISCOS and GENCOS are forced by law to operate at a loss, and also because 40% of us don't pay for power. Where would the DISCOS and GENCOS get the money then? Government is no longer funding them again since 2013...except to pay subsides which don't cover their losses...



There is monopoly only in your mind. Dangote has compettiors in his cememnt and all bsuiensses.



Which can be gotten only by you and me and everyone actively particpating in our democracy...at all levels. Not FOCUSING ON ABUJA



The GSM companies charged high tarrifs from the word go. For poor service...at one time you could not use an MTN line to call another network and vice versa....but they took the profits they made ...and built up our IT infrastruicture that has privided jobs and so on

All those phone towers you see...government built none of them....private money built it...all because GSM compnaies were allowed to charge the very high tarrifs they wanted to charge.



You would have spent less if everyone paid their power bills, and if the government allows DISCOS and GENCOS to charge the high tarrifs they need to charge to earn money and attract the investment they need to make power better.



Ghana earns as much as Nigeria does, for a populaiton of 30 million people or less, and they have a higher tax to gdp ratio, plus people don't cheat on their bills...that's why the most ir country appears to wrk.

Ghana tax to gdp ratio 23% Nigeria 6.1%


You need sense

And we are there because since 1988...the government has kept the price of oil below the cost of its production....and as a result our refienreis don't make enough of a profit to run themselves well

Even that Dangote refienry will fail if government insits on him selling fuel at a price less than its cost of production in the name of subsidsing fuel.

In 2016, it cost N165 to refine one liter of fuel in our refinereis that were still fucntioning...that fuel was sold at the time for N145....n20 loss.

That's why some of us want subsidy to go.



Did GSM companies have 'the right infrastructure' in place before they could operate? No, they came in, charged market price, we cried, but paid., and they took our money and built the infrastructure we see...and government did not spend a kobo.

Power and petroleum don't work because they sell at a a price below their cost of production.....and thus no profit for them to make things better...to fix refineries and power supply.

Anyway, run to Ghana...their tax and power bills are much higher...and a liter of petrol costs N318 or thereabouts there.

hedonido:


I would resist the urge to lash you with well deserved insults. We're comparing two adjacent/contiguous administrations, but with very VAST deterioration happening almost immediately this animal called Buhari took over yet you're here talking about 1999 PDP this and that. Some of you can be quite obtuse.

Throughout Jonathan's five years, prices of essential commodities remained almost constant. Inflation was in the low single digit. Pure water remained N5. Buhari came in 2015 and by 2016 everything had fallen apart. Yet you're here talking about 1999 and PDP. Comparing the foul smell of your fart with the putrid smell of your excrement. Dense.

That said, since you prefer to talk about fuel price and 1999 and PDP, how much was a barrel of crude oil in 1999 vis-a-vis per liter fuel price? How much was a barrel of crude oil at the peak of Jonathan's Presidency vis-a-vis fuel price? How much is the barrel of crude oil NOW under the bastard called Buhari vis-a-vis the current pump price of fuel? ?? Analyse and rationalise as you annoying Lai underlings always do!

Voy:
As the Naira approaches ₦500 to $1, let me remind Nigerians of how we left Nigeria on May 29, 2015:

‪- 50kg bag of rice was ₦8000‬
‪- bag of cement was ₦800‬
‪- Fuel was ₦87‬ per litre
-Minimum wage was ₦18000 which was equivalent to $120
‪- Electricity tariff was half the current rate ‬
-Unemployment rate was single digit
‪- $1 was ₦150 (₦199 in 2015)‬
‪- Lagos-Abuja air fare was ₦10,000‬
-Brand new tear rubber Kia Cerato was ₦3.6 million
‪- A bottle of Coke was ₦60‬
‪- A tin of Peak milk was ₦80‬
‪- Banditry was nonexistent in the Northwest
-Killer herdsmen were being arrested and tried
-Boko Haram were being devastated, not rehabilitated, and elections held in every Local
Government Area of Nigerians on Election Day in 2015.

Don’t you miss Goodluck Jonathan?


Thank God for GEJ, his government remains the best

Source: https://www.facebook.com/1152008079/posts/10224638040715746/?d=n

CocoaOla:


You are very wrong for using GSM to compare thousands of business sectors in Nigeria and micro-econimic sector

Where is Nitel

You are very wrong do know that it government officials that default electricity bills the most break traffic law, don’t obey law orders, cheat on tax especially army and police Baracks

You can not us GSM techs to judge thousands of business economic sectors and micro-econimic sector in Nigeria because they function differently

Where is Nigeria Airways and Nitel

Your Nigeria solutions opinion and perspective is old and outdated no one use outdated tools to upgrades a new world system humans are smarter now than 60 year ago

Minimum wages is stagnant people are losing job left and right 58% of Nigeria is in extreme poverty how do even tax the poor when inflation is 18% and minimum wages is stagnant

Why is jet fuel cheaper in Ghana than Nigeria the producer

The cost of running Nigeria government is too expensive

Imagine Buhari wasting billion of dollars to explore oil in the north

Why they borrow loans to build basic infrastructures

Nigeria need to invest in human development to
Maximise our good products and services to the world efficiently

Don't think like you're in 1988 please think and see things like you are in 2021 thanks

BeeBeeOoh:
My hands no dey oh, let me coman be goin

Amaechi2023:
Bag of cement #800 abi?
issokay.
I'm sure buhari left fuel price at 0.20 per litre in 1985.
how PDP increase price of fuel from #20 in 1999 to #97 in 2015 is still a mystery.
about 500% increament in just 16 years?
now compare to 97 to 165 less than 80% increament.
since inflation hard wailers to understand, I can say buhari is least worse than PDP.

Monogamy:


Such are the news chronic enemy of Nigeria Reno have been waiting for so that he can claim of being vindicated.

Fake pastor

AuroraB:
Say when and how or shatap

mrkings84:


You are a buharist. Can't u just call a spade, a spade for once?

Amaechi2023:
Bag of cement #800 abi?
issokay.
I'm sure buhari left fuel price at 0.20 per litre in 1985.
how PDP increase price of fuel from #20 in 1999 to #97 in 2015 is still a mystery.
about 500% increament in just 16 years?
now compare to 97 to 165 less than 80% increament.
since inflation hard wailers to understand, I can say buhari is least worse than PDP.

Agbegbaorogboye:

20 to 97 in 16yrs. 97 to 165 in 6 years. Oya do the maths

Amaechi2023:
ohh you Sabi back track record properly ghan.
ok #20 to #97 naira na how many percent increament be that?
almost 500% increament and you have the guts to open your gutter to spew trash and call people zombie?
your own zombie level don sink your brain finish so no need to educate you again.

ozuo

Amaechi2023:
Bag of cement #800 abi?
issokay.
I'm sure buhari left fuel price at 0.20 per litre in 1985.
how PDP increase price of fuel from #20 in 1999 to #97 in 2015 is still a mystery.
about 500% increament in just 16 years?
now compare to 97 to 165 less than 80% increament.
since inflation hard wailers to understand, I can say buhari is least worse than PDP.

brandmix:


The problem is when people who have no business doing economic analysis try to look smart...they just make themselves look dull and empty.

Firstly my friend sharaaaap!

2ndly how do you compare economic states between 2 different points in time without using net present value? To think you then ended your argument with the word inflation but had no idea that u cannot calculate both points in absolute terms.

3rdly, before anyone talks shi*t about dwindling oil reserves...the idiots in charge are suppose to MANAGE the economy. As a manager of a small firm, irrespective of the external sociopolitical/economic environment...my job is to keep the business running...not blame every gad dam thing while it goes bankrupt!

Bottomline is Buhari is...and always has been a terrible administrator, and that’s why he has failed in everything.

wpadmin:
I remember when Bubu said he will make 1$ exchange for 1 Naira. Me and some of my neighbors had a heated argument.

I tried to explain that it was not possible and should not vote based on that.

Omo, these people went ahead to vote because of this promise.

Our leaders sha know how to whine us.

CSTRR:
If una value una future for dis country, go and beg Peter obi to run as president and vote for him.

Nobody else in the current political space have the capacity to fix the humongous waste and general incompetence in this country.

fedorahat:

I guess you guys quoting him don't understand the use of paragraphs.
Buharis tenure and PDP tenure are in two different paragraphs.
Going by his analogy PDP left Nigeria 200times worse than the met it, which is completely true.
Omokri is just a useless hypocrite.

VTJN:
clap for yourself?

we go even beg him pikin join!

Ayed44:
Yeah! We must find a way to defend Buhari's incompetence at all cost....

Zombies will always be zombies, anytime, any day.

Agbegbaorogboye:

Really? Tell me how

XXXXTENTACION:
I don't reply to zombies.
their level of intellect is very low you can find your fellow zombies and engage with them.

MIKOLOWISKA:

Pdp was a monopoly
Automatic shirt
No contest
Nothing good can come out of monopoly
At least apc is a form of punishment
Perform below average and you will be replaced
Also apc demystified incumbency and federal might

Agbegbaorogboye:

This is interesting. So what happened in 2019

yesloaded:
You makes me remember anonimi

Where r u, bro?