₦airaland Forum

I believe a combination of Dakwambo and Ben Bruce will give APC a good run for their money despite having the incumbency factor!
1. In terms of acceptability, the combo will most likely garner the needed geographic spread as many northerners-mostly NE and NC - who are silently grumbling under this government may pitch tent with the ticket because of Dakwambo who is a proven performer!
2. Igbos ( me inclusive) wouldn't mind relinquishing the VP to an evidently competent south southerner with an enviable thought pattern!
3. South south will readily pitch tent with their "son"; no doubt!
4. Our good old friends(as for business) in the South west are known to be politically broad minded....Due to their highly literate population juxtaposed with the increasingly disappointing current government, I wouldn't be surprised if a considerable percentage vote the PDP despite having their son as the current vp!... 30-35% is easily achievable if not more (ignore the noise online)!
4. Oh our bulky NW! 35% is achievable!!!

What do you think?

Are you high ?

Heshei:
Are you high ?

Is that how to counter someone?

Heshei:
Are you high ?

I don't see what he has said to warrant this insulting response from you. It cost you nothing to be polite.

@Topic.

It is way too early to discuss 2015 for the very fact that it is way too early to write off the Buhari/Osinbajo government as you clearly do. It is a very difficult time to lead Nigeria because of external factors beyond our control and the inability of past governments to address perennial problems (like our unhealthy dependence on oil) to the extent we are really struggling to combat this period of economic downturn occasioned by the drastic fall in the main export, i.e crude oil, our mono economy is highly dependent on. Buhari and Osinbajo have plenty of time to deliver change and progress that Nigerians can see and feel. I am betting on them doing this, because this is a government 100% on the side of the people, and convincing Nigerians that there is no vacancy in Aso Rock in 2019.

@Chudionu58 Apologies if my question affected your balance.

Heshei:
@Chudionu58 Apologies if my question affected your balance.

Thanks bro!

Gbawe:
I don't see what he has said to warrant this insulting response from you. It cost you nothing to be polite.

@Topic.

It is way too early to discuss 2015 for the very fact that it is way too early to write off the Buhari/Osinbajo government as you clearly do. It is a very difficult time to lead Nigeria because of external factors beyond our control and the inability of past governments to address perennial problems (like our unhealthy dependence on oil) to the extent we are really struggling to combat this period of economic downturn occasioned by the drastic fall in the main export, i.e crude oil, our mono economy is highly dependent on. Buhari and Osinbajo have plenty of time to deliver change and progress that Nigerians can see and feel. I am betting on them doing this, because this is a government 100% on the side of the people, and convincing Nigerians that there is no vacancy in Aso Rock in 2019.

Remember, 2019 is 3 years from now, and are you telling me that medium term planning is a wrong approach? Hmmmmm! Easy uncle Gbawe

Gbawe:
I don't see what he has said to warrant this insulting response from you. It cost you nothing to be polite.

@Topic.

It is way too early to discuss 2015 for the very fact that it is way too early to write off the Buhari/Osinbajo government as you clearly do. It is a very difficult time to lead Nigeria because of external factors beyond our control and the inability of past governments to address perennial problems (like our unhealthy dependence on oil) to the extent we are really struggling to combat this period of economic downturn occasioned by the drastic fall in the main export, i.e crude oil, our mono economy is highly dependent on. Buhari and Osinbajo have plenty of time to deliver change and progress that Nigerians can see and feel. I am betting on them doing this, because this is a government 100% on the side of the people, and convincing Nigerians that there is no vacancy in Aso Rock in 2019.

Is it the #budgetofCorruption that is on the side of the people? Abeg shift this govt is hot air no substance!!!

chudionu58:
Remember, 2019 is 3 years from now, and are you telling me that medium term planning is a wrong approach? Hmmmmm! Easy uncle Gbawe

Oga you are free to plan away. There is a big difference between an inherently inept government doing badly in prosperous times and a competent government unable to deliver maximum economic impact because of very difficult overarching global economic realities beyond its control and the 'impotence' bestowed upon it by the highly inept and grossly corrupt PDP rule of 16 years. We are not pragmatic in Nigeria and many Nigerians do not understand what it means to think critically. Read the article below from 2014 , with comment from neutral expert analysts who are not sentimental or impractical as the average miracle-seeking Nigerian, to note that anyone seeking for Nigeria to be economically prosperous today is a joker. The article bleakly highlights the fact that we were in serious trouble , when oil was selling at $68.00 per barrel, and that the Naira will keep failing in value.

The article also warned that no quick recovery should be expected because of the many 'booby traps' we myopically set for ourselves via failing to diversify the economy away from oil, embracing corruption rather than developing critical infrastructure like power and transport, refusing to see the need to prioritise the development of the SME sector that had been allowed to become moribund and blatantly ignoring the need to save for the 'rainy day' when oil sold for over $100.00 per barrel for a long time. Now tell me how, if a reasonable person, you think the above issues are problems that can be resolved in the 9 months Buhari has been President when the highly educated, experienced and effective experts below warned us not to expect any quick recovery at a time Nigeria was much, much better off than it is today. The reality, for those who do not kid themselves, is that most Nigerians are not reasonable or realistic.

The solutions that will aid and sustain our recovery, so we are never in this position again, can only bear results in the long term if adhered to holistically and religiously as I expect Buhari to do. For example, the development of our solid minerals sector , the growth of the agricultural sector and the deliverance of constant and adequate power supply that will help us diversify our economy will not be delivered in a few days, months or even a year !!! Bear in mind also that the money to invest in those sectors is simply not available today in a period we are even struggling to service recurrent expenditure such as salaries for government workers !!!!

There is nothing, I repeat nothing, we can do today to make current Nigeria economically prosperous overnight. Anyone who truly understands the problem of Nigeria, and is realistic about what can be done to defeat these problems and the time frame to deliver the lasting solutions required, will know Buhari and Osinbajo remain capable of leading us forward. Put your Damkwabo and Bruce in place of Buhari and Osinbajo, or any other combo, and you would equally be looking to replace them today because you fail to understand the problem, as the analysts below do, and are totally unrealistic about the way forward. You and others are simply expecting water from a stone in defiance of logic. Some of us are used to this because we know our people to understand how unreasonable and unrealistic Nigerians are in comparison to others. If I ask you want could be done today to improve Nigeria could you make a convincing case of your stance given we are a mono-economy now experiencing every crippling aspect of an economic downturn due to how our main expert and foreign currency source has lost over 70% of its value and is unable to sustain us because we allowed ouselves to be almost 100% dependent on it ?



http://www.wsj.com/articles/nigerias-tumbling-currency-a-victim-of-falling-oil-prices-1417535209

Nigeria’s Tumbling Currency a Victim of Falling Oil Prices
Highly Oil Dependent Economy Feeling the Pinch
Nigeria’s currency has fallen to record lows as the country is hit by its dependency on oil, the price of which has tumbled 40% since June.
REUTERS
By PATRICK MCGROARTY, DREW HINSHAW and JOSIE COX
Updated Dec. 2, 2014 2:20 p.m. ET
3 COMMENTS
Nigeria’s currency tumbled to a record low on Tuesday, hammered by falling oil prices that have weighed on Africa’s top economy as it heads toward an election.

Nigeria overestimated oil prices this year by a wide margin—and is now suffering. Economists fear weak oil prices may prevent Africa’s most populous nation from hitting the 7% growth the International Monetary Fund has forecast for this year.

“We’re a substantial way from the economy even starting to think about being able to recover,” said Nitesh Shah, an analyst at ETF Securities in London. “The government’s options are limited.”

Oil and natural gas make up almost all of Nigeria’s exports and 80% of government revenue, according to the IMF.

As Brent crude prices have slipped 40% since June, to $68 a barrel, the wheels have begun to come off Nigeria’s economy.

Nigeria, whose economy surpassed South Africa in April as the continent’s largest, has striven to generate revenue beyond oil. Recent years saw promising growth in booming telecommunications, banks, hotels and other service businesses.

But to sustain that growth, businesses say they need bigger ports, more highways and fewer blackouts that crimp factory production and curb tax revenue. A weaker naira will make it more expensive to build that infrastructure.

The naira slumped to 186.9 to the U.S. dollar, traders said, extending a slide that has shaved more than 10% off its value this year.

Many African countries are paying the price for counting on one commodity to drive their economies. Growth has stalled in oil-rich Angola. Falling copper prices have dented growth in Zambia. Lower iron-ore prices were hurting Guinea, Liberia and Sierra Leone even before the Ebola epidemic made things far worse.

ENLARGE
President Goodluck Jonathan, standing for re-election, has come under pressure to avoid unpopular spending cuts. As a result, the current budget of nearly $30 billion is hardly $1 billion leaner than last year’s, but the decline in oil prices has choked revenue.

In October, Nigeria—which spends a fifth of its budget on its military—borrowed an additional $1 billion to buy helicopters, fighter jets and other equipment to combat Islamist militants. On Tuesday, the insurgency Boko Haram bombed a market in one city and raided police barracks in another.

In November, the government submitted a revised budget that proposes spending cuts based on a new average oil price of $73 a barrel. But even that price could be “overly optimistic,” warned the central bank governor, Godwin Emefiele.
‘We get used to high oil prices and assume it’s going to be there forever.’
—Ken Iwelumo, former investment banker
Nigeria isn’t the only big oil producer with a wilting currency. Russia’s ruble has shed nearly half of its value against the dollar since May. Norway’s krone has dropped 17% since then, and the Canadian dollar is down 5%.

[size=14pt]But Nigeria is particularly vulnerable. Unlike its peers, it didn’t save while oil prices were high. A public fund that contained $20 billion in oil proceeds when crude prices first surged past $100 a barrel in 2008 had shrunk to $4 billion as of November.

“We get used to high oil prices and assume it’s going to be there forever,” said Ken Iwelumo, a former investment banker who now farms catfish in Nigeria.
[/size]
Economists say oil prices could stay low for months. The 12-member Organization of the Petroleum Exporting Countries, who collectively pump more than a third of the world’s oil, agreed last week to maintain a target of producing 30 million barrels a day.

Meanwhile, the country’s power-privatization program has hit snags. Investors say they can’t improve supply until the government invests $1.5 billion a year to replace a rusted-out grid of power lines.

Nigeria’s All-Shares Index fell 1.8% on Tuesday, extending a drop of almost 18% this year.

In November, Nigeria’s central bank tried to support the naira by limiting sales of the U.S. dollar. When the naira continued to drop, the central bank bought the Nigerian currency to pump up demand, traders say. The bank’s foreign-exchange reserves shrank by $2 billion and the selloff continued.

Last week, the central bank raised its benchmark interest rate by one percentage point to a record 13%. It also lowered the naira’s target trading band to around 168 against the dollar from 155 previously.

The naira is still trading outside that target. Fresh dollar sales by the central bank did little to stop its slide, traders say.

“Things are happening too quickly, too suddenly, too sharply for the average Nigerian or even analysts to process,” said Bizmark Rewane, managing director of Lagos-based Financial Derivatives Co. “We do not know what will happen.”

A bit inebriated.

Scheming and more scheming lost the Presidency to APC in the first instance.

Gbawe:
Oga you are free to plan away. There is a big difference between an inherently inept government doing badly in prosperous times and a competent government unable to deliver maximum economic impact because of very difficult overarching global economic realities beyond its control and the 'impotence' bestowed upon it by the highly inept and grossly corrupt PDP rule of 16 years. We are not pragmatic in Nigeria and many Nigerians do not understand what it means to think critically. Read the article below from 2014 , with comment from neutral expert analysts who are not sentimental or impractical as the average miracle-seeking Nigerian, to note that anyone seeking for Nigeria to be economically prosperous today is a joker. The article bleakly highlights the fact that we were in serious trouble , when oil was selling at $68.00 per barrel, and that the Naira will keep failing in value.

The article also warned that no quick recovery should be expected because of the many 'booby traps' we myopically set for ourselves via failing to diversify the economy away from oil, embracing corruption rather than developing critical infrastructure like power and transport, refusing to see the need to prioritise the development of the SME sector that had been allowed to become moribund and blatantly ignoring the need to save for the 'rainy day' when oil sold for over $100.00 per barrel for a long time. Now tell me how, if a reasonable person, you think the above issues are problems that can be resolved in the 9 months Buhari has been President when the highly educated, experienced and effective experts below warned us not to expect any quick recovery at a time Nigeria was much, much better off than it is today. The reality, for those who do not kid themselves, is that most Nigerians are not reasonable or realistic.

The solutions that will aid and sustain our recovery, so we are never in this position again, can only bear results in the long term if adhered to holistically and religiously as I expect Buhari to do. For example, the development of our solid minerals sector , the growth of the agricultural sector and the deliverance of constant and adequate power supply that will help us diversify our economy will not be delivered in a few days, months or even a year !!! Bear in mind also that the money to invest in those sectors is simply not available today in a period we are even struggling to service recurrent expenditure such as salaries for government workers !!!!

There is nothing, I repeat nothing, we can do today to make current Nigeria economically prosperous overnight. Anyone who truly understands the problem of Nigeria, and is realistic about what can be done to defeat these problems and the time frame to deliver the lasting solutions required, will know Buhari and Osinbajo remain capable of leading us forward. Put your Damkwabo and Bruce in place of Buhari and Osinbajo, or any other combo, and you would equally be looking to replace them today because you fail to understand the problem, as the analysts below do, and are totally unrealistic about the way forward. You and others are simply expecting water from a stone in defiance of logic. Some of us are used to this because we know our people to understand how unreasonable and unrealistic Nigerians are in comparison to others. If I ask you want could be done today to improve Nigeria could you make a convincing case of your stance given we are a mono-economy now experiencing every crippling aspect of an economic downturn due to how our main expert and foreign currency source has lost over 70% of its value and is unable to sustain us because we allowed ouselves to be almost 100% dependent on it ?



http://www.wsj.com/articles/nigerias-tumbling-currency-a-victim-of-falling-oil-prices-1417535209

Are you guys no longer here to solve problems?You just shot yourself on the foot if you don't know! Why seek power since you know that economic indices are not favorable and you have no clue whatsoever on how to solve them!....... Fraud!