₦airaland Forum

GOD, please intervane in Nigeria's issues

Rose2014:
Apologies to well meaning Yoruba people put there but u see most zombies are Yoruba Muslims
I still can't understand how they voted someone with a questionable Waec to fix Nigeria


Na laugh I dey

Buhari should have been apt as Efcc chairman.If GEJ hadn't messed up,people wouldn't have been so desperate for something different.

APC only cashed in on Nigerians genuine yearnings for change and dusted and packaged a perpetually unelectable Buhari.

We are today back to medieval Settings and demanding for something different in less than one year of rejecting GEJ.

If GEJ is acclaimed as clueless and ineffectual,buhari epic failures in less than one year can't be quantified.

This is the time for patriotic Nigerians to look beyond rogue politicians and step out to reclaim their country.Now is the time for the ultimate total revolution.

Rose2014:
Pump price price from 45 to 145

5000 promised to jobless youths equall 0


Food promised to kids equal 0

$1 promised to be N1 equals 370 so far(in a free fall o)

Change they promised equals chain


We didn't hear them carefully

People actually heard CHAIN thinking it was CHANGE. Scam of the century

Lalasticlala, Obinoscopy

http://www.vanguardngr.com/2016/05/naira-continues-free-fall-now-n370/ .

Let's keep politics aside, this buhari's govt has lost grip of things. A revolution is called for which should go concorrently with the planned protest for fuel price hike.

As in?!

Trailblazer1:
Pls pay attention!
A Zombie wants to make a point

wordychap:
Let's keep politics aside, this buhari's govt has lost grip of things. A revolution is called for which should go concorrently with the planned protest for fuel price hike.

Lost grips or fighting the fire that was already set?
If he had not acted the way he intervened, most of you would have been queuing for UN charity grains by now. The same way Somalian used to queue for grains.
The day Jonathan left, Nigeria had only 3-6 months of foreign exchange left.
Most people are clueless about the fiscal train wreck Jonathan left behind .when I join the fuel subsidy protest, it was in the knowledge that this was going to happen .

oduastates:
Lost grips or fighting the fire that was already set?
If he had not acted the way he intervened, most of you would have been queuing for UN charity grains by now. The same way Somalian used to queue for grains.
The day Jonathan left, Nigeria had only 3-6 months of foreign exchange left.
Most people are clueless about the fiscal train wreck Jonathan left behind .when I join the fuel subsidy protest, it was in the knowledge that this was going to happen .

Jonathan left close to 30 b dollars in foreign reserve for this government
A viable agric sector
What's become of all that in 11 months?
Do u realise buhari has fired many federal staff -all casual staff of universities, most contract staff, some federal civil servants have been receiving half salary for some months now, prices of essential commodity has gone sky high, and now petrol is increased to make an already bad situation worst, in case I forget d countries source of income - Niger delta oil is threatened.
He should shove his anti-corruption crusade down his throat n that of d APC stalwarts, life is becoming unbearable; not that it was even rosy for d country.

wordychap:
Jonathan left close to 30 b dollars in foreign reserve for this government
A viable agric sector
What's become of all that in 11 months?

Big deal .
Obasanjo left $64 billion at an average of less than $30\ barrel and in spite of ND criminal bombings.
22 billion of that reserve was revenues in the ECA.
Jonathan not only spent , stole or wasted $34 billion of what OBJ left , he also squandered the $500 billion earned during the boom. Include the debt mess he left behind in spite of the revenues.
Algeria saved forex of over $150 billion .
Jonathan dollarised the economy in such a way that the $29 billion he left in CBN will last for less 6 months.
By the way , a country needs foreign reserves to pay for imports .
The way Obj managed the economy, Nigerian should have had nothing less than $120 billion at the end of Jonathan tenure ,give or take $30 billion.
This is how much should have been left behind.
You are talking about $29 billion which took OBJ less than 3 years to save at $16 a barrel .
By the end of 2010 , Jonathan had already lost control of the economy. This was masked by high oil prices.

oduastates:
Big deal .
Obasanjo left $64 billion at an average of less than $30\ barrel and in spite of ND criminal bombings.
22 billion of that reserve was revenues in the ECA.
Jonathan not only spent , stole or wasted $34 billion of what OBJ left , he also squandered the $500 billion earned during the boom. Include the debt mess he left behind in spite of the revenues.
Algeria saved forex of over $150 billion .
Jonathan dollarised the economy in such a way that the $29 billion he left in CBN will last for less 6 months.
By the way , a country needs foreign reserves to pay for imports .
The way Obj managed the economy, Nigerian should have had nothing less than $120 billion ,give or take $30 billion.
This is how much should have been left behind.
You are talking about $29 billion which took OBJ less than 3 years to save at $16 a barrel

Oil is now 47 dollars a barrel, buhari has no excuse to fail as much as he is failing now
He's just bungled d peace in d Niger delta
He doesn't have a viable economic team to run the economy

wordychap:
Oil is now 47 dollars a barrel, buhari has no excuse to fail as much as he is failing now
He's just bungled d peace in d Niger delta
He doesn't have a viable economic team to run the economy

Take this to your friends to explain to you.
The income from $47 s barrel is how much exactly?

(47- 30) * 0.6 = $10/ barrel
Out of this , Nigeria has to pay JV capital share.
The country will be left with maybe $7/ barrel
Even at full production for 365 days and ready buyers,
This is approximately $5 billion.
Nigeria needs forex of $60 billion per annum based on the dollarised , import everything economy .
The diaspora chips in $25 billion. Trade with neighbouring countries probably chips in another $1 billion.cocoa , timber , rubber , gum Arabic probably chip in another billion
How are you going to cover the balance of payment deficit of approximately $28 billion .

This is a rough calculation and it is very optimistic. Nigeria's been begging countries to buy her oil for the past 4 years or sell even cheaper than the market rate

oduastates:
One of my lecturers once said that most of Nigeria's intelligentsia are quacks who passed through school cramming the whole textbooks.
The first shock you get when you study overseas is the emphasis on research rather than testing.
Utomi, Ekwesili and Co put on the toga of being economist .I have never seen them build mathematical or economic models to back up most of the jargons they spit on radio and TV.
To put thing in perspective,

Ajaokuta steel was been 97% complete in 1982.
It is like a caterer having all the tools to make soup but yet cannot cook because it is not 100%.
If you can smelt iron and steel, you can make anything made of iron and steel.
At 90% complete, ajaokuta was capable of producing the components of power plants and 1000 ajaokutas.
The useless and unpatriotic Nigerian politicians economists and lawyers used economic arguments to answer what was an engineering and industrialisation question.
Abacha used ajaokuta to steal over $2 billion

illegaly take please. Buhari must not hear you called it steal o, i take my grand father beg you.

oduastates:
Take this to your friends to explain to you.
The income from $47 s barrel is how much exactly?

(47- 30) * 0.6 = $10/ barrel
Out of this , Nigeria has to pay JV capital share.
The country will be left with maybe $7/ barrel
Even at full production for 365 days and ready buyers,
This is approximately $5 billion.
Nigeria needs forex of $60 billion per annum based on the dollarised , import everything economy .
The diaspora chips in $25 billion. Trade with neighbouring countries probably chips in another $1 billion.cocoa , timber , rubber , gum Arabic probably chip in another billion
How are you going to cover the balance of payment deficit of approximately $28 billion .

This is a rough calculation and it is very optimistic. Nigeria's been begging countries to buy her oil for the past 4 years or sell even cheaper than the market rate

Then its not too much to ask for to 'maintain' d peace from d Source of Income.

oduastates:
Big deal .
Obasanjo left $64 billion at an average of less than $30\ barrel and in spite of ND criminal bombings.
22 billion of that reserve was revenues in the ECA.
Jonathan not only spent , stole or wasted $34 billion of what OBJ left , he also squandered the $500 billion earned during the boom. Include the debt mess he left behind in spite of the revenues.
Algeria saved forex of over $150 billion .
Jonathan dollarised the economy in such a way that the $29 billion he left in CBN will last for less 6 months.
By the way , a country needs foreign reserves to pay for imports .
The way Obj managed the economy, Nigerian should have had nothing less than $120 billion ,give or take $30 billion.
This is how much should have been left behind.
You are talking about $29 billion which took OBJ less than 3 years to save at $16 a barrel

You guys can't see that you are tying yourself in knots. If you tell people that OBJ "saved" $64bn when oil $30 p/b (which is false anyway) and saved $29bn when oil was $16 p/b, they are inevitably going to start asking why Buhari can't do same when oil is $45 p/b.

All d money they use to build new stadium if they use that to build refinery. We can be exporting refined crude.


There is steel shortage and akajokuta is roasting. Nigeria is now reaping benefits of stealing by miltary, politicians and contractors that win projects and don't do nothing.


They want turn naira to Zim dollars

4Play:
You guys can't see that you are tying yourself in knots. If you tell people that OBJ "saved" $64bn when oil $30 p/b (which is false anyway) and saved $29bn when oil was $16 p/b, they are inevitably going to start asking why Buhari can't do same when oil is $45 p/b.

All those so called foreign investors . All those foreign airlines , all the dollar debit cards given to Nigerian ,all the road contracts being given to Syrians ,Lebanese and Jordanian carpenters, all the expensive champagnes and bubbly , Gucci bag and Armani taste , private jet hires , the trillions of Naija printed for election sharing , all the embassy fees being repatriated, the crap Nigerians import , tuition fees etc
Do you think that these people keep the money earned in Nigeria?
Do you thinks these habits are cheap for a country that does not export much?
Tuition fees alone cost the country over $2 billion?
Then you have to adjust everything for the inflation.

Everything written here is backed with facts .

[size=18pt]Zombies be like... it's a strategic method of rebuilding the economy....[/size]

oduastates:
One of my lecturers once said that most of Nigeria's intelligentsia are quacks who passed through school cramming the whole textbooks.
The first shock you get when you study overseas is the emphasis on research rather than testing.
Utomi, Ekwesili and Co put on the toga of being economist .I have never seen them build mathematical or economic models to back up most of the jargons they spit on radio and TV.
To put thing in perspective,

Ajaokuta steel was been 97% complete in 1982.
It is like a caterer having all the tools to make soup but yet cannot cook because it is not 100%.
If you can smelt iron and steel, you can make anything made of iron and steel.
At 90% complete, ajaokuta was capable of producing the components of power plants and 1000 ajaokutas.
The useless and unpatriotic Nigerian politicians economists and lawyers used economic arguments to answer what was an engineering and industrialisation question.
Abacha used ajaokuta to steal over $2 billion

But Buhari said, Abacha never stole a dime

Please correct me if I am wrong. The drop in naira value sequel to the increase in fuel price to 145naira is as a result of the following:

Fuel has been scarce all these months because importers had to "queue" at CBN to buy dollars at 199naira so as to reduce their procurement costs and consequently sell affordably to the masses. Even at that, the CBN still gives them limited amount of dollars which is insufficient to meet the needs of the masses, hence the scarcity of fuel (and hoarding by filling station operators to sell to the highest bidders).

Now, with the increased price of fuel, importers are now free to source for dollars from the black market thereby making it available to the masses, but, unfortunately, at higher prices. This increased demand for dollars by the importers has now put great strain on the naira, devaluing it greatly.



Is my analysis accurate?

CC blueto, greatman247

odimbannamdi:
Please correct me if I am wrong. The drop in naira value sequel to the increase in fuel price to 145naira is as a result of the following:

Fuel has been scarce all these months because importers had to "queue" at CBN to buy dollars at 199naira so as to reduce their procurement costs and consequently sell affordably to the masses. Even at that, the CBN still gives them limited amount of dollars which is insufficient to meet the needs of the masses, hence the scarcity of fuel (and hoarding by filling station operators to sell to the highest bidders).

Now, with the increased price of fuel, importers are now free to source for dollars from the black market thereby making it available to the masses, but, unfortunately, at higher prices. This increased demand for dollars by the importers has now put great strain on the naira, devaluing it greatly.



Is my analysis accurate?

CC blue to, great man247

You are right. but the invalid point was using “devaluation” instead of deprecation.

Devaluation has not yet occurred, because it was depicted that buhari resolutely declined the devaluation scheme denoted my IMF.

What is happening now is that naira is depreciating against dollar, because of the scarcity of dollar. And in economics, when demand is higher that supply, the price of goods and services will increase.

The apex panacea to this issue is for the govt to ensure optimal commercialisation of our refineries, and further diversify our economy so that people can be potentful in industrialization and proliferation so as to enable Nigerians produce manifold local goods and services in other to evade immense importation that will further lead to rebating the pressure on dollar.

odimbannamdi:
Please correct me if I am wrong. The drop in naira value sequel to the increase in fuel price to 145naira is as a result of the following:

Fuel has been scarce all these months because importers had to "queue" at CBN to buy dollars at 199naira so as to reduce their procurement costs and consequently sell affordably to the masses. Even at that, the CBN still gives them limited amount of dollars which is insufficient to meet the needs of the masses, hence the scarcity of fuel (and hoarding by filling station operators to sell to the highest bidders).

Now, with the increased price of fuel, importers are now free to source for dollars from the black market thereby making it available to the masses, but, unfortunately, at higher prices. This increased demand for dollars by the importers has now put great strain on the naira, devaluing it greatly.



Is my analysis accurate?

CC blueto, greatman247

You are correct on this your analysis somehow!

blueto:
You are right. but the invalid point was using “devaluation” instead of deprecation.

Devaluation has not yet occurred, because it was depicted that buhari resolutely declined the devaluation scheme denoted my IMF.

What is happening now is that naira is depreciating against dollar, because of the scarcity of dollar. And in economics, when demand is higher that supply, the price of goods and services will increase.

The apex panacea to this issue is for the govt to ensure optimal commercialisation of our refineries, and further diversify our economy so that people can be potentful in industrialization and proliferation so as to enable Nigerians produce manifold local goods and services in other to evade immense importation that will further lead to rebating the pressure on dollar.

Thanks for the correction, sir

@ bolded,
it completely beats our imagination! How hard can it be to get at least 1 very functional refinery in this country? We should be the only oil country in the world that imports refined petroleum products.

Candyrain:
Hahahahaha... my dear u don't need to sleep becos it'll hit dat figure before u could even close ur eyes.

How are u love?

You are so right my love

Bubu said he doesn't understand again

$is back to base 400 to a $ loading

Please I would like to know how much a dollar is right now