₦airaland Forum

EternalTruths:
Is oil the only thing we can sell to get dollars

Tell your Daura Cattleman to introduced True Federalism backed by the constitution in order to encourage states to exploit their resources and exchange it for dollars in order to increase inflow of oil

As things stand, oil remains the largest foreign earners for Nigeria by a mile.

Diversifying the economy doesn't happen in a year of a new govt even if it's their top priority. It takes time.

Btw, it's our collective oyel. If you no like, Go hang!

Even my toilet no get door again, I would blame Jonathan for it too.

Am beginning to getting infuriated with the way Apc is handling things. Soludo has given you a honest advice, pls make do of it. PDP met Nigeria wen she is nothing.

If naira is falling, pls hire professionals to revive it. that's all we are asking for. this blaming game can't continue forever pls

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

With such blame game, we will keep having problems looking away from main problem and finding solutions. First, I don't know where you got the average $100 crude oil price during GEJ admin. And I'm sure you can dig out prices of crude oil under Abacha and the exchange rate trend also during his regime. Secondly, I'm sure you meant 'Foreign Reserves' when you wrote 'Foreign Account'. To guide you, it is not an account you can physically see and withdraw from. It is a reflection of Your intl balance of payments and virtual. If not, you can as well say PMB too has drawn about $300m from it in the past two weeks.

We should look to diversify our economy quickly and not just pass the blame. Our leaders especially during those days of the military destroyed our insitutions and infrastructure and we need strong visionary leader to help drive our economy away from oil and it's latent price shocks

onojiwizardgmailcom:
Are you forgetting so soon the law suit instituted by Amaichi and other APC governors against the government, forcing the sharing of the excess crude reserve. I want to correct the assertion above, foreign reserve depletion or accumulation in not in the control of government, it is the exclusive preserve of the CBN to deplete and accumulate foreign reserve.

The ECA is another kettle of fish. It's been revealed that those who insisted on sharing it based their arguments on the fact that the account was being depleted without their knowledge. It was always being looted so to say. So, we can't blame them for their stand. And what happened to FG's share?
The FR was supposed to be control by CBN but we've known that GEJ turned it to his and PDP's ATM by just writing to Emefiele to release dollars to ONSA and co. Hence, Soludo said Jona ran CBN like Idi Amin of Uganda.

Have you been around and following the news?

[quote author=omenka post=42082099][/quote]Quoting yourself

PassingShot:
The ECA is another kettle of fish. It's been revealed that those who insisted on sharing it based their arguments on the fact that the account was being depleted without their knowledge. It was always being looted so to say. So, we can't blame them for their stand. And what happened to FG's share?
The FR was supposed to be control by CBN but we've known that GEJ turned it to his and PDP's ATM by just writing to Emefiele to release dollars to ONSA and co. Hence, Soludo said Jona ran CBN like Idi Amin of Uganda.

Have you been around and following the news?

The money released by the CBN was Abacha returned loot. if my memory serves me right, the CBN did not release money from excess crude account. correct me with facts and reference please.

PassingShot:
The ECA is another kettle of fish. It's been revealed that those who insisted on sharing it based their arguments on the fact that the account was being depleted without their knowledge. It was always being looted so to say. So, we can't blame them for their stand. And what happened to FG's share?
The FR was supposed to be control by CBN but we've known that GEJ turned it to his and PDP's ATM by just writing to Emefiele to release dollars to ONSA and co. Hence, Soludo said Jona ran CBN like Idi Amin of Uganda.

Have you been around and following the news?

All these comments of yours are lame excuses for the failure of the current government in power. These constant blame game is a clear indication that you guys are clueless on how to save our economy from collapsing. Nigerians are now wiser.

minifuworld:
dont you know that its our external reserve that GEJ is using to defend the dollar then and that is we citizens dont feel it much but now that the external reserve as gone so low what can the present administration do

True Federalism

Now I know APC lack sence. When they were coming in,they told us that they were going to make #1=1$ . We believed and voted them in. Then under Gej ,it was even manageable. But now it keep raising and growing worst and they keep blaming who is no longer in office. Which way Nigeria?? Abi which way APC?

APC is a satanic party built & run by LIES.

Abeg make dem leave GEJ abi apc don retire am. Make dem leave am to rest

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

nonsense!

But you forgot to mention or remember that it was same
GEJ and Okonji Iweala that were hammering about SWF
(Sovereign Wealth Fund) to save for the rainy day which Gov
Amechi of Rivers (then Chairman, Governors Forum) kicked
against. He said, share everything and other governors said
yes. We, Nigerians followed them and said yes. Now, you
come here to blame GEJ. Go, get the real facts. All Nigerian
politicians are thieves - dead or alive.


Read what Amechi said about Sovereign Wealth Fund in
2011 @ http://dailyindependentnig.com/2013/12/opposed-swf-amaechi/

CyberWolf:
When GEJ was busy saving for the rainy day and the governors by Amechi was busy shouting share the money share the money, what do you expect? Let APC go and die..

THANK YOU!

Read my previous comment above and check the link referenced in 2011

sholatech:
With such blame game, we will keep having problems looking away from main problem and finding solutions. First, I don't know where you got the average $100 crude oil price during GEJ admin. And I'm sure you can dig out prices of crude oil under Abacha and the exchange rate trend also during his regime. Secondly, I'm sure you meant 'Foreign Reserves' when you wrote 'Foreign Account'. To guide you, it is not an account you can physically see and withdraw from. It is a reflection of Your intl balance of payments and virtual. If not, you can as well say PMB to has drawn about $300m from it in just past two weeks.

We should look to diversify our economy quickly and not just pass the blame. Our leaders especially during those days of the military destroyed our insitutions and infrastructure and we need strong visionary to help drive our economy away from oil and it's latent price shocks

Of course we're talking abt FR.
I know the FR is not a physical money account. However it can be depleted by certain actions of cbn sanctioned by the president plus failure to ensure that all foreing earnings are paid into the account. That's what largely happened during GEJ hence it didn't grow.

If course diversification of the economy is the way forward but it will amount to being economical with t h e truth if we pretend GEJ didn't have anything to do with our current state of affairs.

fitzmayowa:
APC's Modus Operandi


1. When you fail to fulfill your campaign promises blame GEJ/PDP

2. When you are asked for accountability blame GEJ/PDP

3. After running government for 8 months and people are still not feeling the "CHANGE" blame GEJ/PDP

4. When you make bad economic decisions blame GEJ/PDP

5. When you take forever to appoint ministers blame GEJ/PDP

6. When you can't tell nigerians that you won't be able to fulfill some of the bogus promises blame GEJ/PDP

7. When you are in doubt blame GEJ/PDP

8. When you junketeer around the world with no tangible result blame GEJ/PDP

I wonder when APC will stop this blame game and face governance squarely, APC led government has turned democracy to "blamemocracy"


Nigerians elected them to solve the problem of the country and not start throwing blames...SMH

9. When you hide and alter the national Budget, blame Jonathan/PDP
10. .......add your own

These APC zombies are too foolish, they have forgotten vividly how Amaechi Nd his cronies under their broom waving party pressurised Jonathan Nd NOI to share our reserve. Then they thought they were frustrating Jonathan's government but now their foolishness has turn back to hunt them. They never see something. My prayer be say make oil price crash to zero naira make every body go him papa house. Thunder fire any Apczombie that will quote me

Na today....E b like say Oga GEJ get bullet proof. All dis baseless accusations would have killed some people

Enough of this 'GEJ FAILED' start working on 'HOW BUHARI WON'T FAIL'
only a confused government blames his predecessors...

cktheluckyman:
Oil price fell from 120 to N50 under GEJ yet the naira never went above N200 during GEJ 's regime, in barely seven months, the Nepa Bill certificate holder have shut down our currency to exchange for N305 to a dollar!! A government with no economic direction and an incompetent finance minister!!

Jonathan was stealing and lying. The 2013 and 2014 bedgets were robbery. Only a foool or economic illiterate would blame the Naira fall on Buhari's government.

It was mainly caused by the oil price and aggravated by Jonathan's corruption and free import regime.
Nigeria imported more rice and even palm oil for the elections than the whole if Africa combined.

The main failure of Jonathan was not diversifying the economy when we had the money.

cktheluckyman:
Oil price fell from 120 to N50 under GEJ yet the naira never went above N200 during GEJ 's regime, in barely seven months, the Nepa Bill certificate holder have shut down our currency to exchange for N305 to a dollar!! A government with no economic direction and an incompetent finance minister!!

I dont think you are being fair. Its not about insulting the President. But face the facts, Jonathan enjoyed oil boom for 95% of his tenure, yet nigeria had nothing to show for it. The only thing we were hearing is how ministers and governors were acquiring private jets and armoured bullet proof limousines. You cant honestly be comparing both regimes. Call a spade a spade, the past regime goofed big time! And Buhari is unfortunately not a magician

Adminisher:
Jonathan was stealing and lying. The 2013 and 2014 bedgets were robbery. Only a foool or economic illiterate would blame the Naira fall on Buhari's government.

It was mainly caused by the oil price and aggravated by Jonathan's corruption and free import regime.
Nigeria imported more rice and even palm oil for the elections than the whole if Africa combined.

The main failure of Jonathan was not diversifying the economy when we had the money.

nonsense!

But you forgot to mention or remember that it was same
GEJ and Okonji Iweala that were hammering about SWF
(Sovereign Wealth Fund) to save for the rainy day which Gov
Amechi of Rivers (then Chairman, Governors Forum) kicked
against. He said, share everything and other governors said
yes. We, Nigerians followed them and said yes. Now, you
come here to blame GEJ. Go, get the real facts. All Nigerian
politicians are thieves - dead or alive.


Read what Amechi said about Sovereign Wealth Fund in
2011 @ http://dailyindependentnig.com/2013/12/opposed-swf-amaechi/

zopaks:
nonsense!

But you forgot to mention or remember that it was same
GEJ and Okonji Iweala that were hammering about SWF
(Sovereign Wealth Fund) to save for the rainy day which Gov
Amechi of Rivers (then Chairman, Governors Forum) kicked
against. He said, share everything and other governors said
yes. We, Nigerians followed them and said yes. Now, you
come here to blame GEJ. Go, get the real facts. All Nigerian
politicians are thieves - dead or alive.


Read what Amechi said about Sovereign Wealth Fund in
2011 @ http://dailyindependentnig.com/2013/12/opposed-swf-amaechi/

My friend Sovereign Wealth Fund was too small to have impacted on anything. They were stealing the country blind from the NNPC and CBN. .before the money even entered the Federation Account. In other serious countries, Jonathan would be in PRISON

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

Are you people not ashamed of yourselves, GEJ & NOI made repeated efforts to save for the rainy days in the sovereign wealth funds from the excess crude account, but it was the Amaechi led NGF & APC governors like Oshiomhole & Okorocha that refused, went to supreme court & got a judgement to share all the money in ECA & stop the SWF, only a few governors like Obi went with that advice & today the same fools are turning around to blame GEJ.

It is high time this administration move on instead of apportioning blame on the last administration. They already know what the situation of the country is before winning the election.

so we should blame jonathan again. apc failure was also cause by jonathan. nawa o

PassingShot:
As things stand, oil remains the largest foreign earners for Nigeria by a mile.

Diversifying the economy doesn't happen in a year of a new govt even if it's their top priority. It takes time.

Btw, it's our collective oyel. If you no like, Go hang!

Tell yourself the truth.

Have Buhari initiated the journey of True Federalism.?

Remember that a journey of a thousand miles begins with a step

Watching in ....D
..
Grab my free report on successful bulk sms business. Please, check my signature.

APC and shifting blame are like bread n butter

Nigeria is in deep shit, the affairs of this country have been placed in the hands of the mediocres amongst us.no vision, no plan on how to solve the myriad of problems facing the country. PMB doesn't even trust them and so nothing is happening. They will blame Jonathan for the next 4years to cover their incompetence, shortsightedness and lack of ideas to address the problems bedeviling the nation.it is going to be a very long night ahead.Jonathan the modern day devil, we greet you.

fitzmayowa:
What the present administration can do is to turn things around, remember they campaigned on the slogan of "CHANGE" and nigerians bought in to it...


Are we going to applaud them(APC) for under-performance because PDP messed up Are we going to continue to cheer them on when all they do is blame GEJ/PDP all the time To rule a country like nigeria is not easy and they already knew what they were coming into, this is not the time to start throwing blames, because throwing blames won't solve a thing....

Its 8 months into APC's government, we are getting tired of the blame games already...SMH

Governance is not magic. You cant wake up one morning press a button and everything turns around. The fact is GEJ govt led us into a deep pit and to make matters worse, our source of revenue has all but dried up. So its going to take tremendous effort to turn things around. What we can do is to support govt to get us out of here. And how do we do that? SMEs...start something small and pay your taxes

Quoting the great fictional Riley Freeman of the Boondocks

" President Obama said, you can't move forward looking backwards"

My dear ruling party, please quit the blame game cos it's getting too old due to too much use in barely 7 months