erniok:

If you are an economist, you'll know that Buhari left us in a terrible state.

If you know anything about economics you would know Tinubu have done more harm in 3 months than Buhari did in his last 4 years

[quote author=ezioyi post=126031944][/quote]

What people are united before? Do you think Nigeria is united? You must be dreaming.

Willie2015:


Vitalis is right..
Oil theft as been with us since ages..
We have always managed
Removal of fuel subsidy and floating exchange rate...
are major moves that should be tackled gradually...
by Tinubu administration...
Need enough buffers to reduce effects of shocks on the economy

The main is issue is Nigeria is fucking broke.

You cannot even afford to pay the subsidy even if you want.

The true account of Nigerian foreign reserve is is just 3 billion dollar.

And emefiele still used that as collateral to borrow money which technically means you cannot used that.
At a point revenue is even greater than debt servicing.
Nigeria is bleeped. Naira will soon hit 2000 and there is nothing anybody can do about that

mrvitalis:

It's that what they told you guys to say?

Nope. Just follow the accounts. Our revenue, debt servicing, foreign reserve, trade deficit, then you will know we are bleeped. Nobody has to tell you this if you know how country economy works.

ufotunang:
....the solution is for nigeria to be a producing economy...an industrialized country where we produce to export inorder to earn, generate dollars, foreign currencies as revenue to the country...more of exportation and less of importation.... and also nigerians and politicians should reduce the way they travel to abroad for medical treatment and attending schools, foreign universities abroad.. for this increases the demand for dollars, pounds to do all this things and put pressure on the dollrs which makes the naira to be weak and lose value... nigerians and politicians should value what they have in nigeria and patronize nigeria hospital for medical treatment and patronize nigeria universities..I know it will be difficult for them to do that..but this is the solution to solve the scarcity of forex in nigeria and make the naira to have value inorder to make the economy to be good and better

But why do Nigerians keep allowing themselves to be fooled all the time? Between 1999 and 2014 when the Naira was very stable and strong almost sold/bought at same rates both at official and parallel markets, how many companies were exporting goods in Nigeria? Investors were seen all over.

We should be promoting Export yes, but that's not the cause of our problem. Have you ever wondered why naira was so strong and a bit above 100 naira when obj and yaradua were in government and crude was selling between 30 and 40USD a barrel?

Nigeria's economic problem is nothing but leadership. There are several countries in the western world who don't Export like Nigeria but are doing fine economically. They don't even have oil. Under Buhari's nose, government officials and their wives were thronging the CBN, buying dollars and reselling at a whopping sum. Buhari's wife was accused of this on one occasion which she denied. You know in Nigeria, there can't be smoke without fire and every runour from them end up being a fact.

Under the Buhari's administration, a single man stole over 100bn , returned 30bn and was left alone. There are several of such , those who have stolen much more but are still walking freely today cos they were never caught. Tell me, which country would fare economically better under such a heavy burden of corruption? As you can see, the west had stopped giving us grants unlike in the past. They've also reduced this where it was termed inevitable. They knew their money would end up in individuals pockets.

Today, we have a highly controversial human being in government. Which country would take us seriously? Who would come and invest here where there's uncertainty, insecurity caused by the same leaders but had grown wings past what they could quell? No usd coming in as grants or investments rather, multinationals are quitting our country. What do you expect? We never had it so bad as a country.

Once we get leadership right, corruption would be nipped in the bud and our economy would fare better. You don't need to preach to investors. They know our terrain much better than we may think. They'd come on thenr own and invest.

Even the Export, which could have improved our economy has been grossly discouraged due to fx scarcity. Dangote won't grind limestone and bag them for sale. There are chemicals which would be added to it to make up a bag of cement. How much do you think he'd buy those chemicals which aren't produced locally? If he comes on air tomorrow and says his cement is now 9k a bag, don't scream because he's gonna buy these chemicals at 1k per dollar rate. Same applies to other local industries who would need one material or the other to make finished goods. What about plants and equipment which they'd need to use dollar to buy? All these would add to the cost of finished products. By the time they determine their prices per unit of the products to be sold in the foreign markets, they'd not be able to compete cos they'd become more expensive.

Why do you think people keep smuggling rice? You want to assist farmers with loan but gave the money to governors in their respective states, who would only share a few to their cronies and squander the rest. What happened to bank of agriculture ? If the right people get the right agriculture loans, rice will become pure water in Nigeria. Get rid of bad leaders and all will be well. No foreign investor will come unless we get things right . We also can't promote Export under bad leadership. The atmosphere is quite frustrating.

FreeStuffsNG:

Asiwaju Tinubu is yet to even take control of CBN so calm down. His choice of CBN Governor and Deputy Governors just assumed office yesterday and today facing the Senate

shebi subsidy is gone for good. Good seem be making was for subsidy o?

Why Dollar no go scarce... All yahoo guys have been put out of business, all politicians are mopping up what is left, NNPC and CBN are sucking the country dry while the agbado, cassava and locust bean seller dey shout say dollar don cost.

BoldBrainz:
Dear Niger Deltans:

Una sure say we no go just shut down oil pipelines make the country for fold one time?!

You will soon be fished out for treason. That your head wey no correct.

mrvitalis:

The state Buhari left Nigeria has little or nothing to do with where we are today

Yes it was bad but not this bad

Removing of fuel subsidy, floating naira without having backing brought us here

Buhari is a failure yes but at least he was careful
Tinubu and his team are even more ignorant than Buhari team and are too carefree

Economy no be by gra gra... You tackle is slowly

None, zero of tinubu policy has worked all backfired leaving us far worse where we started

You analysis is akin to watching a patient having a heart attach and hoping it will get better only if you let him be. we all know what the result will be. Tinubu is on a mission to revive Nigeria and he deserves our cooperation. leaving things as they were just to please critics will result in serious economic problems like in Venezuela and that is when you will realize there's something beyond temporary rise in fuel prices.
I know many Obidients would like to see this so as to say aha, we told you Tinubu and his Yoruba people will ruin Nigeria.

Itzlinda:


Nope. Just follow the accounts. Our revenue, debt servicing, foreign reserve, trade deficit, then you will know we are bleeped. Nobody has to tell you this if you know how country economy works.

So Tinubu ans his group didn't know all this? They didn't read the handover note?

Lmaooo

mrvitalis:

Bros this is not your APC WhatsApp group this is a public forum with sensible people here adjust accordingly

No body would believe the bull crap

So Tinubu and his team didn't know what to expect when they removed subsidy and floated the naira? ... What did they expect to happen actually? Tell us

look this is not politics and those in this government know the extent of the damage but they are playing partisan politics to shield some of the idiots that put us in the mess. Nigeria is dead broke,we are the edge of going to IMF.

Even if obi or atiku enter as president they will still face the same problem.

ElSudani:


You analysis is akin to watching a patient having a heart attach and hoping it will get better only if you let him be. we all know what the result will be. Tinubu is on a mission to revive Nigeria and he deserves our cooperation. leaving things as they were just to please critics will result in serious economic problems like in Venezuela and that is when you will realize there's something beyond temporary rise in fuel prices.
I know many Obidients would like to see this so as to say aha, we told you Tinubu and his Yoruba people will ruin Nigeria.

If you don't know what to do say so

A smart person can get naira down, bro economics no be rocket science

Luckysbab:


You will soon be fished out for treason. That your head wey no correct.

Fisherman of the Federal Republic of Nigeria, I greet you!

Donkey!

mrvitalis:

The state Buhari left Nigeria has little or nothing to do with where we are today

Yes it was bad but not this bad

Removing of fuel subsidy, floating naira without having backing brought us here

Buhari is a failure yes but at least he was careful
Tinubu and his team are even more ignorant than Buhari team and are too carefree

Economy no be by gra gra... You tackle is slowly

None, zero of tinubu policy has worked all backfired leaving us far worse where we started

Mr economic expert. How would subsidy have provided dollar?

BoldBrainz:


Fisherman of the Federal Republic of Nigeria, I greet you!

Donkey!

Your eye go clear. Chill.

Bizibi:
look this is not politics and those in this government know the extent of the damage but they are playing partisan politics to shield some of the idiots that put us in the mess. Nigeria is dead broke,we are the edge of going to IMF.

Even if obi or atiku enter as president they will still face the same problem.

Obi won't stop trying to make yourself feel good

Obi was clear to stabilize the naira we need more loan, more loan used only to fund manufacturing sectors

Nah bros if u don't know u don't know

tollyboy5:

Mr economic expert. How would subsidy have provided dollar?

If you want to learn say please and I would would give you solution... Easy solution

Stabilize the naira, create millions of jobs, increase government revenue, widen the tax net would increasing debt servicing

Winning123:
Floating of Naira is not the issue. The issue is that we were not selling enough oil to earn dollars due to stealing in the Niger Delta for many months. At some point we were only producing 800 thousand barrel per day instead of 1.7m barrel per day. All the useless Obi people don't know anything. Obi is lucky he did not win. This is not the best of time to be president of Nigeria. However I know we will pull through

The first lie will always need 99 others to support it.
Is that why subsidy is also back, low crude oil output?
What about floating of Naira, only for two higher rates to emerge?

mrvitalis:

So Tinubu ans his group didn't know all this? They didn't read the handover note?

Lmaooo

Even before then they know. Bro some of us saw this coming since two years back.

Sls said Nigerian should not vote for anyone that says it is going to be easy.
But you know power is sweet now, even if na you you go collect and try your best 😂

Luckysbab:


Your eye go clear. Chill.

Oga, take several seats at the back of the hall and let reasonable people find space for sane contributions!

Morbeta11:
Tough times ahead.....Buhari's government buried Nigeria. Tinubu is just doing try you luck. Fg should start supporting SMEs.

Still he appointed the highest number of SA, minister

He gave largese to legislatures

Wasted funds on meaningless no effect palliative

Still unopened the land border


Was he concerned when buhari was burying nigeria

... Innocent nigerians are meaningless to the powerful - nigeria politicians

mrvitalis:

If you don't know what to do say so

A smart person can get naira down, bro economics no be rocket science

Economics no be rocket science indeed. All you need is to get a ketchup and liquor importer and make him president.

mrvitalis:

Obi won't stop trying to make yourself feel good

Obi was clear to stabilize the naira we need more loan, more loan used only to fund manufacturing sectors

Nah bros if u don't know u don't know

this is my problem with some of you no be everything be politics....the problem we are facing now even if you put Obama and Clinton in aso Villa they will still face it.

Na some of us know the nonsense they were doing in that government,I even said it here two years ago that the damage is beyond anyone and it will take some miracle to turn things around in a short term.

Itzlinda:



The main is issue is Nigeria is fucking broke.

You cannot even afford to pay the subsidy even if you want.

The true account of Nigerian foreign reserve is is just 3 billion dollar.

And emefiele still used that as collateral to borrow money which technically means you cannot used that.
At a point revenue is even greater than debt servicing.
Nigeria is bleeped. Naira will soon hit 2000 and there is nothing anybody can do about that

Nigeria is broke...
And yet we can afford to pay politicians big monies...
Senators Constituency Allowance.... State Monthly Security Allowance..etc
Fleet of cars...Happiness Allowance.... etc
are still being paid as at when due.....
We aint broke yet....
FG just want to tax the poor to feed the Elites...

mrvitalis:

No body is against them the method with which it was done was bad

Naira was floated he only reversed ot when it moved passed 800

Subsidy was removed when it got pass 650 they brought back subsidy

Yes, they panicked and reinforced the I&E Window (with its prohibition lists) when it crossed N800 - and that has made the problem worse as predicted. The floating should have been allowed to stay since the I&E Window does not benefit the real sector. If floating had stayed, it won't have risen to the N960 or so that it is now since every dollar would be going into the same market, with zero opportunities for round tripping.

If you were the president, what method would you have used to remove subsidy?

Bizibi:
this is my problem with some of you no be everything be politics....the problem we are facing now even if you put Obama and Clinton in aso Villa they will still face it.

Na some of us know the nonsense they were doing in that government,I even said it here two years ago that the damage is beyond anyone and it will take some miracle to turn things around in a short term.

Bros the situation of Nigeria economically was clear

It was very issue to implement very easy

I am not sure we are far from bank failures. God help us all.

ElSudani:


Economics no be rocket science indeed. All you need is to get a ketchup and liquor importer and make him president.

Say please and I would teach you

Eriokanmi:
But why do Nigerians keep allowing themselves to be fooled all the time? Between 1999 and 2014 when the Naira was very stable and strong almost sold/bought at same rates both at official and parallel markets, how many companies were exporting goods in Nigeria? Investors were seen all over.

We should be promoting Export yes, but that's not the cause of our problem. Have you ever wondered why naira was so strong and a bit above 100 naira when obj and yaradua were in government and crude was selling between 30 and 40USD a barrel?

Nigeria's economic problem is nothing but leadership. There are several countries in the western world who don't Export like Nigeria but are doing fine economically. They don't even have oil. Under Buhari's nose, government officials and their wives were thronging the CBN, buying dollars and reselling at a whopping sum. Buhari's wife was accused of this on one occasion which she denied. You know in Nigeria, there can't be smoke without fire and every runour from them end up being a fact.

Under the Buhari's administration, a single man stole over 100bn , returned 30bn and was left alone. There are several of such , those who have stolen much more but are still walking freely today cos they were never caught. Tell me, which country would fare economically better under such a heavy burden of corruption? As you can see, the west had stopped giving us grants unlike in the past. They've also reduced this where it was termed inevitable. They knew their money would end up in individuals pockets.

Today, we have a highly controversial human being in government. Which country would take us seriously? Who would come and invest here where there's uncertainty, insecurity caused by the same leaders but had grown wings past what they could quell? No usd coming in as grants or investments rather, multinationals are quitting our country. What do you expect? We never had it so bad as a country.

Once we get leadership right, corruption wouid be nipped in the bud and our economy would fare better. You don't need to preach to investors. They know our terrain much better than we may think. They'd come on thenr own and invest.

Even the Export, which could have improved our economy has been grossly discouraged due to xf scarcity. Dangote won't grind limestone and bag them for sale. There are chemicals which would be added to it to make up a bag of cement. How much do you think he'd buy those chemicals which aren't produced locally? If he comes on air tomorrow and says his cement is now 9k a bag, don't scream because he's gonna buy these chemicals at 1k per dollar rate. Same applies to other local industries who would need one material or the other to make finished goods. What about plants and equipment which they'd need to use dollar to buy? All these would add to the cost of finished products. By the time they determine their prices per unit of the products to be sold in the foreign markets, they'd not be able to compete cos they'd become more expensive.

Why do you think people keep smuggling rice? You want to assist farmers with loan but gave the money to governors in thehr respective states, who would only share a few to their cronies and squander the rest. What happened to bank of agriculture ? If the right people get the right agriculture loans, rice will become pure water in Nigeria. Get rid of bad leaders and all will be well. No foreign investor will come unless we get things right . We also can't promote Export under bad leadership. The atmosphere is quite frustrating.

Where will the leadership come from?


Ehn!

Itzlinda:


Even before then they know. Bro some of us saw this coming since two years back.

Sls said Nigerian should not vote for anyone that says it is going to be easy.
But you know power is sweet now, even if na you you go collect and try your best 😂

Bros no body said it would be easy but it we were on the right path it would be so clear

mrvitalis:

Bros the situation of Nigeria economically was clear

It was very issue to implement very easy

right now it is even far more complicated than in 2016..... even Gej administration didn't do half of the bs in buhari administration.

ElSudani:


Economics no be rocket science indeed. All you need is to get a ketchup and liquor importer and make him president.

Can't you just save yourself of dis stupidity you have been commenting