₦airaland Forum

hope this will open our eyes to other sectors.

Jonathan attracts more respect when he shuts up and restrains from making public utterances.
His handlers should be fired for allowing him to say silly things all the time.

Ogogoro na bad thing

bushdoc9919:
Mr President is being too optimistic.

We are dependent on oil.....so much dependent.....and to make matters worse, our reserves are being depleted to keep the naira from falling into the abyss....

I guess we should be honest, admit oil is a curse.....and start going the industrial route. Simples.

Oil is not a curse it is a bless but your leaders are cursed because they refuse to make the best use of it for the nation other than to steal and divert money made from it to their personal account. Could you imagine how much development should have greeted Nigeria if we never have cursed leaders like this current ones we have? Would you call oil "curse" for other OPEC nations whose citizens are enjoying everything good that comes with it?

Who is deceiving who

bajeen:
This man will never keep his mouth shut. How can you say this while our economy predominantly depends on oil export? BACK TO AGRICULTURE

Agriculture is just another form of dependency.

Problem with Agric is that everyone is doing it. So prices tend to stay low....unless there is a crop failure in several agric producers.

Agric worked for Nigeria in the 1960's when we had a guaranteed market in the UK. Now, we don't have that market. Plus....prices are not high enough to earn enough revenue....as countries like Burkina and Mali are finding out now with cotton.

Nigeria's road lies with industries....and more importantly with an end to the idea that there is a national cake to share. There is no national cake.

bushdoc9919:
Agriculture is just another form of dependency.

Problem with Agric is that everyone is doing it. So prices tend to stay low....unless there is a crop failure in several agric producers.

Agric worked for Nigeria in the 1960's when we had a guaranteed market in the UK. Now, we don't have that market. Plus....prices are not high enough to earn enough revenue....as countries like Burkina and Mali are finding out now with cotton.

Nigeria's road lies with industries....and more importantly with an end to the idea that there is a national cake to share. There is no national cake.

From which planet are you from?

So why is the dollar hitting N190 this morning with confidence that it will hit N200 this december.

hmm MEND are our brothers, BOKO haram are our siblings, Stealing is not Corruption, White is not White and Burukutu is not Alcohol.

big big talk

deb:
Oil is not a curse it is a bless but your leaders are cursed because they refuse to make the best use of it for the nation other than to steal and divert money made from it to their personal account. Could you imagine how much development should have greeted Nigeria if we never have cursed leaders like this current ones we have? Would you call oil "curse" for other OPEC nations whose citizens are enjoying everything good that comes with it?

All the OPEC countries that enjoy oil fueled good life have one thing in common.....populations less than 15 million people. Saudi Arabia produces ten times more oil than we do for 11 million people. The United Arab Emirates produces 800000 more barrels per day than we do....for a population of less than 9 million people. And non OPEC member Norway...which is the second largest producer of oil does it for 11 million people. Nigeria on the other hand has 150 million people and rising. Even if we produced at the level of a Saudi Arabia....things might just be slightly better. (That's why corruption in Nigeria is so henious a crime...they are stealing from a diminished pot of gold).

Countries with high populations and limited resources (and as Economics tells us...resources are limited) who are sucessful at the same time have one thing in common.....they industrialise. Japan has 100million people. China has 1.2bn. Germany has 98million people....and as such they have limited resources. So.....industries and innovation make sense. That is what Nigeria should be doing....and we refuse to do it because we think that the oil money is enough....when thanks to our high population and corruption and dutch diseased economic practice.....it isn't.

Oil is a curse. Too bad PDP and APC have no answer to it.

berem:
Nigeria solely depends on crude oil so the fall of oil prices will definitely affect Nigeria because our economy is not diversified.

Mr President,stop deceiving Nigerians with your assurances.

Since January 1, 2012. I've learnt that any time GEJ makes a promise or give assurance I've prepare myself to the worst.

He once assure us that terrorism will soon fade away, today, what have we?.

GEJ is the harbinger of woes, wails, sorrow, tears and blood!.

9free:
From which planet are you from?

Actually I am from around here.

And I know I am right. Agric is not a money spinner....unless you use your agric products to make industrial grade products. FIIRO in Lagos has tonnes of inventions from agric products. I guess we should use them.

Exporting agric products does not work.....not now when we have no guaranteed markets like we used to.

joseph1832:
Since January 1, 2012. I've learnt that any time GEJ makes a promise or give assurance I've prepare myself to the worst.

He once assure us that terrorism will soon fade away, today, what have we?.

GEJ is the harbinger of woes, wails, sorrow, tears and blood!.

whatever jonathan says,believe him at your own peril. He is clueless and a failure personified.

Vicotex:
c dis 1 dey talk 'bout oil as if say na your sate dem for dey dig d oil.
Na only oil we sppose to focus on as a Nation? APShIt

i'm a nigerian. that gives me the right to talk abt any topic that affects the country's well being. moreover there's oil in commercial quantity in my state and it doesn't freak us. in fact we don't want to drill it. and yes we shouldn't focus on oil alone but that's the case. too bad you are so unintelligent you can't see that

this country is already in a mess, a dollar to naira is #190. so wat will happen for us to knew DAT d countries economy is already fallen. we don't have any other means of survival except oil exportation, no companies for production n employments
oga jona Shaaa!!!!
think wise sink no more ;Dthis country is already in a mess, a dollar to naira is #190. so wat will happen for us to knew DAT d countries economy is already fallen. we don't have any other means of survival except oil exportation, no companies for production n employments
oga jona Shaaa!!!!
think wise sink no more

One day, the President announces his Nobel Prize-deserving achievement: that he has been able to reduce poverty by 50 per cent; the next day, his finance minister claims that the economy has improved because 40 million Nigerians could afford to purchase cars under their administration and the country will soon join the league of 20 biggest economies. The third day, before you recover from the audacity of their claims, they announce austerity measures! You do not need a “Nwa dibia” (an oracle) to know this somersault will continue after February. The amusing thing is they are not even struck by the irony of their own position.

Then why am i yet to receive November salary? Why no financial backing to my colleagues who got promoted? And they keep saying all is well....Nonsense!!! We need to rise above sentiments and vote these vultures out of power.

Clueless individuals, why are they crying wolves?

What is Austerity measure?

Ngozi Okonjo Iweala : Fall in oil prices will affect the economy, Nigerians should get ready for austerity measures.
GEJ: Fall in oil prices will not affect the economy
Whose report should we believe?

berem:
whatever jonathan says,believe him at your own peril. He is clueless and a failure personified.

You even contemplate if those who vehemently support him are sane.

Great storyteller. Where re d palliative measures he promised Nigerians? Jonathan naa wayo man. He doesnt merit a 2nd term.

All talk with no weight. Cheap promises and the never ending .....

I wonder why people are saying oil is a curse, I went to UAE and saw what the supposed curse has done to develop their country. The greatest resource at the disposal of mankind are people and not jus people, good people, we squandered our collective wealth for over 60 years and are hoping for a miracle abi. Saudi Arabia is bent on making sure that shale oil doesn't see the light of the day and are ready to sell oil at as low as 40 dollar per barrel with the hope of surviving on their reserves, forcast has shown that it may take years for the price of oil to shoot up again as war prone countries like Libya, Iran, Iraq, Algeria etc are now relatively stable hence oil is over supplied.

The discovery of shale has proved on thing which is the possibilities of alternative sources of energy the era of oil is fast coming to an end. As for our government they need to start exploiting other sources of revenue steel is a big industry many Russians have become billionaires from it, large scale agriculture is another they are so many opportunities we are yet to exploit my only reservations will be the resources which we need to develop this opportunity might not be readily available.

bushdoc9919:
Mr President is being too optimistic.

We are dependent on oil.....so much dependent.....and to make matters worse, our reserves are being depleted to keep the naira from falling into the abyss....

I guess we should be honest, admit oil is a curse.....and start going the industrial route. Simples.

Nigeria is a dutch diseased economy.....best we acknowledge that....and start making changes. Like spending more on power.....and unfortunately....Austerity cometh.(we have no choice.).

The Dutch disease occurs when the traditional export (tradable goods) sector is crowded out by the booming export sector and the non-tradable goods sector. The lagging traditional tradable goods sector may include cocoa, palm produce, cotton, rubber, coal, copper, textiles and some manufactured goods while the booming export sector may be crude oil, coffee, gold, etc. The non-tradable (non-export) goods sector covers all those goods that are produced for domestic consumption only, e.g. staple food items, clothing, building materials, locally-assembled cars. Where crude oil (and gas) is the booming export sector, the non-oil export sector may be crowded out by the oil sector and the non-tradable goods sector of the economy. This can happen when the oil revenue windfall increases domestic demand for non-tradable goods and pushes up domestic prices leading to an appreciation of the real exchange rate which in turn reduces the competitiveness of the non-oil export sector. This will in turn lead to a reduction in non-oil exports in both quantum and value terms. The oil windfall may also lead to movement of the factors of production in the economy. For instance, capital and labor (and land) may shift from the non-oil export sector to the oil sector (in order to maintain or increase reserves and production) and the non-tradable goods sector (to take advantage of the growing domestic demand). This explains why the increase in oil prices and the subsequent oil revenue windfall in many oil-exporting countries have tended to depress their non-oil export sector while at the same time generating a boom in both the oil and the non-tradable goods sectors. With capital and labor shifting from the non-oil export sector to the oil-sector and non-traded goods sector, firms in the non-oil export sector are forced to either close down or reduce their scale of operation. [b]The boom in the oil and non-traded goods sector increases the demand for imported goods. This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty.[/b]

From: Managing the Dutch disease in Nigeria. by Dr. Emmanuel Ojameruaye

the only good comment have read today....

The statement credited to the presidency neither makes economic sense nor political sense. Why do our politicians keep thinking of Nigerians as animals or fools ? Not even Saudi Arabia, Kuwait or Rushia with hitherto blooming economies will talk like this.

One begin to wonder if GEJ actually went to school lo and behold I remember he hold a doctorate degree in Zoology,all the professor and the school that gave him that degree should all be ban for life,even a secondary school student knows that falling of oil prices will destroy our economy,anyway am done with nigeria,such an insane country where majority are the fools and doing any right thing in the society is alien to them,for those that keep ranting Gej till 2019,may the good lord make ur life miserable just the same way gej is messing more thatn 170million nigeria till day,can I hear a sound AMEN

berem:
Nigeria solely depends on crude oil so the fall of oil prices will definitely affect Nigeria because our economy is not diversified.

Mr President,stop deceiving Nigerians with your assurances.

Thanks for that post


We are an export driven economy. ......
No diversification of our economy
And how won't it affect the economy and it's policies


The government is about to introduce austerity measure just because of the sharp drop in its revenue

lacasa:
EOD

meaning?

"The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt." - Bertrand Russell.
Jonathan is always sure of his rubbish policies, and assuring us since last 5 Years. we will defeat boko haram. we will do this in 2018. we will do that. all na rubbish way we no see the good effect on citizens.

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I can't think of anything to
comment so I'm just going to
post a Blueberry pancake recipe.
1 1/4 cups all-purpose flour
1/2 teaspoon salt
1 tablespoon baking powder
1 1/4 teaspoons white sugar
1 egg
1 cup milk
1/2 tablespoon butter, melted
1/2 cup frozen blueberries,
thawed
1. In a large bowl, sift together
flour, salt, baking powder and
sugar. In a small bowl, beat
together egg and milk. Stir milk
and egg into flour mixture. Mix
in the butter and fold in the
blueberries. Set aside for 1
hour.A
2. Heat a lightly oiled griddle or
frying pan over medium high
heat. Pour or scoop the batter
onto the griddle, using
approximately 1/4 cup for each
pancake. Brown on both sides
and serve hot.

Thank You.