Five Oil Exporters Affected By Currency Devaluation Most - Business (2)

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Five Oil Exporters Affected By Currency Devaluation Most - Business (2) - Nairaland

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Re: Five Oil Exporters Affected By Currency Devaluation Most by Kangol99(m): 8:15am On Feb 19, 2016

It has been said a long time ago that we should no longer depend majorly on oil which had been d main source of income for this country. Now we can see that the oil is losing it value. Men let's face other sectors squarely or help Nigeria will run on loss.

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 8:15am On Feb 19, 2016

And Rochas Okorocha thought it would be easy to make 1 dollar equal to 1 naira undecided

When we were preaching the advantages of diversification, we were looked upon as lepers cry

Nigeria should go back to agriculture

That is our only hope

3 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 8:17am On Feb 19, 2016

It still beats me wonder how someone would wake-up and blame the present economic woes on Buhari. Nigerians should be singularly grateful in the leadership we have now, God bless PMB.

Re: Five Oil Exporters Affected By Currency Devaluation Most by rozayx5(m): 8:17am On Feb 19, 2016

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Svae , the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

so Nigeria started in 1999 ?

you better get a job and stop defending your illiterate god. your type will soon run out of business at this rate. after all the blunders and shame you suffered from supreme court rulings your still yapping mouth

wake up bro. the likes are no more flowing . a bag of rice gej kept cheap has almost doubled since he left

7 Likes 1 Share

Re: Five Oil Exporters Affected By Currency Devaluation Most by NgeneUkwenu(f): 8:18am On Feb 19, 2016

luvinhubby:
[s]The worst is that Nigeria elected a bunch of clueless lying demons headed by a retired grand pa who was lured out of retirement by a group of masked change chanting political robbers to come truncate an economic blueprint put in place by a globally reknown economist without any alternative plan.

Na only prayers i get for them.

Nigeria ntoorrrr !!

APC are fraudsters.[/s]

An angry Jonathanian... I know you are pained @ the article.. You prefer spreading falsehood about the economy... grin

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by NgeneUkwenu(f): 8:19am On Feb 19, 2016

dearsly:

[b]Thunder will fire u[/ b]

Mynd44 Enforce Rule 2

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 8:20am On Feb 19, 2016

Re: Five Oil Exporters Affected By Currency Devaluation Most by dallyemmy: 8:21am On Feb 19, 2016

I THINK GOVERNMENT SHOULD MAKE THAT PARALLEL MARKET ILLEGAL AND SET UP A CREDIBLE, LESS VOLATILE AND REGULATED ALTERNATIVE. IF NOT, I DO NOT SEE THIS FALL OF THE NAIRA STOPPING NOW. SOME PEOPLE ARE BENEFITING FROM THIS MISCHIEF!

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by zheroes(m): 8:22am On Feb 19, 2016

ishiamu:

Those countries you mentioned are better than nigeria right now... as they have other source to make money than oil... Russia can decide to sell arms... your rubbish article to justify buhari's foolishness and ineptitude is not gonna scale thru...[b] we struggle to send my sis sch fees in usa [/b]cos of policies of not using our atm in yankee... make buhari go mud jare... wonder why we worry bout mugabe when we have a higher mugabe...

you are part of the problem!!! unless its naira they are accepting for the school fees. if every Nigerian did what you are doing now, naira will be at 5000 to 1 USD

HOPE YOU GET THE LOGIC, its time to look inwards, at this time the demand for dollar is more than what is available period!!! there is dollar scarcity and under such scenario price with go uphill, its no rocket science.

5 Likes 1 Share

Re: Five Oil Exporters Affected By Currency Devaluation Most by harmless011: 8:23am On Feb 19, 2016

NgeneUkwenu:

Learn to read!

The difference between those countries you mentioned and nigeria is they are not blaming anyone for their current economic challenges, but here in nigeria instead of the president to focus on finding solution he is busy blaming GOD, IBB, JONATHAN, MAFIAS, ANCESTORS, NIGERIANS ETC.

3 Likes 1 Share

Re: Five Oil Exporters Affected By Currency Devaluation Most by ishiamu(m): 8:24am On Feb 19, 2016

zheroes:
you are part of the problem!!! unless its naira they are accepting for the school fees. if every Nigerian did what you are doing now, naira will be at 5000 to 1 USD

HOPE YOU GET THE LOGIC, its time to look inwards, at this time the demand for dollar is more than what is available period!!! there is dollar scarcity and under such scenario price with go uphill, its no rocket science.

Look inward like change my sis sch to unilag?

2 Likes 1 Share

Re: Five Oil Exporters Affected By Currency Devaluation Most by rozayx5(m): 8:24am On Feb 19, 2016

ishiamu:

Those countries you mentioned are better than nigeria right now... as they have other source to make money than oil... Russia can decide to sell arms... your rubbish article to justify buhari's foolishness and ineptitude is not gonna scale thru... we struggle to send my sis sch fees in usa cos of policies of not using our atm in yankee... make buhari go mud jare... wonder why we worry bout mugabe when we have a higher mugabe...

they are now on the defensive grin

when they were campaigning they promised dubai. ngeneukwenu was their leader . now instead of showing me where the refineries they promised are gettng built and their million houses . she is here talking trash . wetin concern us with venezuela? by 2019 most of them will run fron this forum because of excess shame. barcanista the belle face analyst is now confused already

5 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by lurlah2014(f): 8:26am On Feb 19, 2016

U THINK THEY ARE BETTER COS U CAN ONLY SEE THE POSITIVE SIDE OF THEM WHILE NEGLECTING HOW THEIR NEGATIVE EFFECT AS AFFECTED THEIR CITIZENS TOO.
WHY DO U STILL WANT NIGERIAN ATM CARD WHEN YOU ARE NOT IN NIGERIA? CAN YOU USE THEIR OWN ATM HERE IN NIGERIA ? HAVE THEY EVER TOUT OF INSTALLING ONE HERE IN NIGERIA? YOU KEEP UPGRADING THEIR OWN ECONOMY IN AN UNCONSCIOUS MANNER AND DE-VALUATING YOURSELF AND THE ECONOMY WITH THE DEVASTATING STATE OF YOURS

CHINA WAS WORST THAN NIGERIA WHEN THEY WHERE IN THIS STATE TOO, BUT, THEY SURVIVED IT
YOU WILL KEEP STRUGGLING TO DO THAT NOT UNTIL YOU THINK POSITIVE OR BETTER STILL MAKE A PLAN B FOR YOUR SITUATION COS THE POLICIES WONT CHANGE #NEVER#

AM VERY SURE THAT VERY SOON THOSE YOUR ACQUIRED USA CERTIFICATE WILL NOT BE FUNCTIONING IN NIGERIA AGAIN #SUFFERING BUT SMILING DUDE

ishiamu:

Those countries you mentioned are better than nigeria right now... as they have other source to make money than oil... Russia can decide to sell arms... your rubbish article to justify buhari's foolishness and ineptitude is not gonna scale thru... we struggle to send my sis sch fees in usa cos of policies of not using our atm in yankee... make buhari go mud jare... wonder why we worry bout mugabe when we have a higher mugabe...

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by luvinhubby(m): 8:26am On Feb 19, 2016

NgeneUkwenu:

An angry Jonathanian... I know you are pained @ the article.. You prefer spreading falsehood about the economy...

Angry? That is an understatement.

Took a $6,000 order from a client at 325 -$1 only for me to buy the forex at $375 two days after, losing N300,000 because of this useless & clueless administration.

Hell yes, i am not just angry but FURIOUS angry

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by Demdem(m): 8:26am On Feb 19, 2016

NighttWalker:
What the fvck are you talking about? Everyone's feeling the heat, my uni fees have almost doubled thanks to buharis government and the devaluation of the naira.

U are talking foolishly. U are there at obodo oyibo saying everybody is feeling the heat. Are u ok? U are among the privileged few that should go source for their dollars elsewhere. Govt has no foreign exchange to guarantee such frivolities again. Local manufacturers are smiling. Besides the official rate remain at 199.

5 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by Annunaki(m): 8:27am On Feb 19, 2016

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Svae , the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

You mean the past six years, under Obj our foreign reserves went from $9billion to $50billion and even Yar'adua took it up to $60billion before he died. The brazen looting and mismanagement of our foreign reserves started under Gej.

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by dearsly(m): 8:27am On Feb 19, 2016

[s]

NgeneUkwenu:

Mynd44 Enforce Rule 2

[/s]

U think u can come online and bring this country down because of politics?...
Nigeria is bigger than you!!..
We must speak up against puerile she-male's!!!....Get a life before the curses rendered by suffering Nigerians kill u!!!!

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by ibietela2(m): 8:27am On Feb 19, 2016

[s]

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Svae , the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

[/s]

RUBBISH

1 Like 1 Share

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 8:29am On Feb 19, 2016

Nigeria is on the brink... We need to diversify our economy especially through agriculture.

To see how, read my signature.

Re: Five Oil Exporters Affected By Currency Devaluation Most by dearsly(m): 8:30am On Feb 19, 2016

rozayx5:

they are now on the defensive

when they were campaigning they promised dubai. ngeneukwenu was their leader . now instead of showing me where the refineries they promised are gettng built and their million houses . she is here talking trash . wetin concern us with venezuela? by 2019 most of them will run fron this forum because of excess shame. barcanista the belle face analyst is now confused already

NgeneUkwenu is a man!!!...take note

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by LastSurvivor: 8:30am On Feb 19, 2016

Re: Five Oil Exporters Affected By Currency Devaluation Most by jayloms: 8:30am On Feb 19, 2016

@Op, I cited the case of Venezuela and Russia on the thread about naira now exchanging at 400 to d dollar.

See, the drop in oil price is telling on both opec and non opec countries. Recently, the Saudi petroleum minister, Ali Al Naimi, met with the Russian petroleum minister and the discussion as I read, was centered on stemming the glut in the oil market to bring about a possible rise and stability of the product.

Now, like I asked in that thread, why should economies doing alright (according to wailers), seek a soln to d drop in oil price because it seems to them that Nigeria is the only economy in d doldrums.

Again, why are some Nigerians getting emotionally intolerant at the mention of GEJ or his administration? Is it not clear enough that, he and his cronies contributed their quota to our mess.

And pls don't go about tagging every comment that makes references to his administration as "blame gaming", it is silly. You can never speak of the future, good or bad, without the past.

3 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by eseoghene144: 8:32am On Feb 19, 2016

And some are blaming PMBS government

Re: Five Oil Exporters Affected By Currency Devaluation Most by ibietela2(m): 8:32am On Feb 19, 2016

Demdem:
even at that babas leadership has ensured that only the elite at most feel the brunt of devaluation. Most vulnerable who happen to be the majority dont even know or feel its impact.this explains why as against the elites call that he should allow the official rate to fall naturally, he says no. Let the overfed go source for their dollars elsewhere to fund their luxuries.

Ok......

Re: Five Oil Exporters Affected By Currency Devaluation Most by NgeneUkwenu(f): 8:33am On Feb 19, 2016

luvinhubby:

Angry? That is an understatement.

Took a $6,000 order from a client at 325 -$1 only for me to buy the forex at $375 two days after, losing N300,000 because of this useless & clueless administration.

Hell yes, i am not just angry but FURIOUS

So whose fault?

Re: Five Oil Exporters Affected By Currency Devaluation Most by ibietela2(m): 8:33am On Feb 19, 2016

Babacele:
abeg tell am again. many of them don't read n that was y PDP is able to manipulate them easily.

You that know how to read and you are still being used

Re: Five Oil Exporters Affected By Currency Devaluation Most by callJesu: 8:33am On Feb 19, 2016

Hmmnnn

Re: Five Oil Exporters Affected By Currency Devaluation Most by makabulchi(m): 8:34am On Feb 19, 2016

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

Summary: Blame GEJ

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by Empredboy(m): 8:34am On Feb 19, 2016

ishiamu:

Those countries you mentioned are better than nigeria right now... as they have other source to make money than oil... Russia can decide to sell arms... your rubbish article to justify buhari's foolishness and ineptitude is not gonna scale thru... we struggle to send my sis sch fees in usa cos of policies of not using our atm in yankee... make buhari go mud jare... wonder why we worry bout mugabe when we have a higher mugabe...

bro you are sentimental, if our past leaders had saved our oil surplus during the oil boom we would have been better than those countries. These countries are better than us cos they have reserve and they are using it to block the deficit but we Don have.
As per foreign school fees, if you can plan outside the box then you guys will see opportunity in the policies.
Let me give u expo of what I do in my little business, I use to import before but since what I import falls within the categories of goods that I can't give forex for I decided to go into export then use the money to import now I make money in two ways.
But we naija don't want to learn cos we feel we are educated but we cannot interpret government policies.
NB in every government policy there is an opportunity!

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