₦airaland Forum

Quakertellicus1:
Sorry....your response is very very poor.I expected better.

Let me repeat myself to you.

We are in this mess because we are resource dependent.

And the mess is beyond whoever is in charge....it goes right back to independence.

Back in 1960....when we were standing at the dawn of independence....we had an econony dependent on exporting resources whose prices we do not control.

That is why we are in this mess. But we miss the solution by focusing too much on how much we earn from such resoruces...without realisng that the whole foundation is dependent on sand. (And very fast sinking sand by the way).

If Buhari is ''dull'' as you put it...that means that every past leader including your GEJ is ''dull'' too. And by the way....that includes most Nigerians.

Strong nations with strong currencies.....are countries that can control the price of what they export. And those countries are ...........industrial nations.

So....instead of looking at who runs Abuja.......ask yourself why the SE and SS has not developed an industry that can build refineries and oil rigs in Nigeria? Why hasn't the North developed a cotton spinning machine that it could export? Why hasn't the Western region developed a cocoa processing machine that could be manufactured for export.? And why don't we have 20 android phone manufacturing companies....and so on.

Answering those questions is how we would prosper....separate...or together.

(P.S....You people in opposition can do better than this your whatever-dinho comments).

koboko69:
And your point is? You see the main problem. You can. Ot even think logically? You were the one that left $38bn bah?
Keep cooking figures to suite your wailing appetite.

Oil slump started 2014 and ur hero was already borrowing to pay salaries in feb and mar 2015....

Even madam gele stated clearly that the economy today is as a result of Jonathan's government lack of political Will to save.

uduak2016:
You shot yourself in the mouth...GEJ inherited dollar @150 but took solid 5 yrs to get to 210. But with Buhari, it took less than 9 months to take it from 210 to 370.

ayindejimmy:
That may be ur wish.... But don't force it on others

onatisi:
it is your own response that is utterly and terribly shallow and poor. You are trying to shift the blame of buhari total incompetence on the federal structure. The problem with Nigeria is that they have been blessed with leaders who wont do the right things because it will affect their political interests. I wont go down that lane today. The price of crude oil did not fall within 24hrs and it started since last year,read through our warnings since last year June that buhari should put necessary structures in place but the dullard with his party came out to say he deserves a 3 months honeymoon,the deaf dullard even said he doesn't know why Nigerians are hurrying him to constitute a economic team because ministers are noise makers .he spent 6months choosing ministers !!!
Infact I don't need to discuss with u much. Have a nice day

Quakertellicus1:


The way you Nigerians call money out....you make me laugh.

Look....Saudi Arabia spent 100billion Dollars to buffer their currency in one year.(They have 600billion right now).

I am telling you this to show that we are, and have never been a rich nation.

(And your argument about pipelines shows that you people admit that GEJ failed too.....hehehehe).

If you want to be rich....like China.....we have to export things whose prices we can control. Not oil, not agric, not mining by they way....we cannot control the prices in those sectors.

Oh....and you Nigerians should stop thinking of government as your personal ATM. That is not how govt works.

And zombies do not exist.

luvinhubby:
Thumbs up bro.

Thank God for your type, Nigeria is indeed a poor country, all thanks to the centralised fiscal policy of the nation.

Let us return to regionalism or true fiscal federalism and allow component unit to drive it's industrial growth as was obtained in the early 60's.

The death of industries started from the monthly hand outs of oil proceeds to states as allocations and Nigerian leaders became consumers instead of providers.

Quakertellicus1:
No...it is you who is so focused on Buhari being the issue...that you miss the woods for the trees.

For me...this Government needs to tell Nigerians that they are going to increase power generation, and spend more on transport and end all subsides.

So that in ten years time....I do not expect this in this government's lifetime....we have the beginnings of an economy dominated by products whose prices we can control. Which is where we get a strong naira (which is the point of this discussion/thread).

Which is why I called all our governments in my previous response to you ''dull''. And if by 2019...we have not made the decision to get off resource dependency...this govt is dull too.

(By the way....I don;t care for politicians as much as you do. I am a Nigerian. My eyes always remain open).

onatisi:
You keep contradicting yourself.
Wasn't it this same apc and buhari that said there was nothing like fuel subsidy
Wasn't it this same apc,buhari and tinubu that funded and sponsored protests against fuel subsidy removal that even resulted in peoples death
This same apc government presented a padded budget and even allocated hundreds of million for aso rock lightenings !!!
Wasn't it this same apc government that kept on blasting gej for allocating a billion naira for feeding, while they have allocated almost 2billion naira for 1 year feeding of buhari
What about the 3.7 billion for cars
Stop shifting the goal post,this government is a fraud ,lead by led by a dullard with no academic qualification,marketed by the greatest liar Lai and financed by the greatest conman tinubu and his bench men.

Proffdada:
chop I chop made corruption eat deep into the economy because some people use bulldozers while you're still struggling with teaspoon

uduak2016:
You shot yourself in the mouth...GEJ inherited dollar @150 but took solid 5 yrs to get to 210. But with Buhari, it took less than 9 months to take it from 210 to 370.

luvinhubby:
$29 billion in forex reserve.
$2.3 billion in ECA
$5.7 billion in NLNG royalties.
$1 billion in SWF.

Do the maths if you are intellectualy able to.

amaechi1:
You have just shot yourself on the foot. OBJ left it @145, GEJ took it up from Yaradua @150 and left at 210 despite the wastage of defending the naira.

aljharem:
ok mumuni, calculate the difference between 210-150 within a soace of 6 years and 380 -210 within a year

koboko69:
You my friend is a clown

I don't have time to educate u

Quakertellicus1:
Regionalism works....in the sense that states/regions would get serious about how much money comes in...and yes it could bring in more money.

But....the BIG problem (apart from corruption...which is why I don't like regionalism...Nigerians are people who prefer corrupt leaders at all levels.....or can someone explain why some Northerners for example have Abacha stickers even today....after all the money he stole from them and other Nigerians?).....is that at the end of the day...each region exports raw materiel whose prices it does not control.

(That is why Malaysia and Indonesia....countries who export lots of palm oil...also have strong domestic industries).

What we Nigerians need to do now...is get rid of corruption...and spend more on power and transport...and get rid of all subsides...and cut costs...with the aim of becoming an exporter of products whose prices WE can control.

owagbeba:
Please what do you think of this CBN chap?

It's obvious CBN inability to make clear the flexible exchange policy is fueling Naira flip flop. For 2 weeks now he hasn't come up with clarity. What's wrong with the chap?

Honestly I am tired of raising prices to meet current exchange rate. I have reached a point of not breaking even on most products.

Quakertellicus1:
Well....to some extent...GEJ did lead us here....by not saving.

But....even if GEJ saved....it would not have changed anything much....except that all this economic trobule we are facing would have started later this year.

When the oil price began dropping back in 2014...Saudi had $724bn in their accounts. One year later....that had dropped to 600bn.

124 bn dollars gone....spent not on corruption or looting, but on buffering the Saudi currency...the riyal.

That is why Saudi is now talking about diversification heavily.

Look at Nigeria. We had 32bn USD in our accounts when PMB took over. It is now below 28bn USD (It would have been worse if not for the CBN's restrictive polices).

IF gej had saved...we would have had at best 100bn USD. or 60BN usd.(Compare that to the Saudis).

Long and short....Nigeria is not a rich nation. We never had enough money...which is why corruption here is evil, but most Nigerians don;t see it that way.

Rich nations are nations that spend money on innovation and tech and science and industry. Does Nigeria do that? PDP and APC are not ready to do that because....Nigerians do not want to undergo the hardship that comes from doing the hardwork needed to become like CHina and Japan and company. You Nigerians just want a nice office job and salary every month. Well....I am here to tell you that the job does not exist...and that even if gej saved, and excluded corruption....we still have the problem of Nigerians living for govt welfare.

amaechi1:
You have just shot yourself on the foot. OBJ left it @145, GEJ took it up from Yaradua @150 and left at 210 despite the wastage of defending the naira.

onatisi:
Thanks a lot for showing that guy that common sense is not common. I don't know how some ppl still have the gut and moral sense to defend buhari when even buhari party stalwarts are admitting the fact that they have under performed.

zig2ryme04:
I made a withdrawal on my forex account as at 4:00pm yesterday and the exchange rate was 365.

uduak2016:
You shot yourself in the mouth...GEJ inherited dollar @150 but took solid 5 yrs to get to 210. But with Buhari, it took less than 9 months to take it from 210 to 370.

Kfed4ril:
Broda it took 5years to get to 210 from 150, but under pmb it took just 6months to get to 385 from 210

onatisi:
Thanks a lot for showing that guy that common sense is not common. I don't know how some ppl still have the gut and moral sense to defend buhari when even buhari party stalwarts are admitting the fact that they have under performed.

bros12345:
Are you not ashamed to write this epitaph that you just wrote here?
In 6 years dollar, 150-210 ( difference - N60 )
In 9 Months, dollar, 210 - 380 (difference - 170)
At this rate, Buhari will take it to N1,500 in 8 years.

Quakertellicus1:
Well....to some extent...GEJ did lead us here....by not saving.

But....even if GEJ saved....it would not have changed anything much....except that all this economic trobule we are facing would have started later this year.

When the oil price began dropping back in 2014...Saudi had $724bn in their accounts. One year later....that had dropped to 600bn.

124 bn dollars gone....spent not on corruption or looting, but on buffering the Saudi currency...the riyal.

That is why Saudi is now talking about diversification heavily.

Look at Nigeria. We had 32bn USD in our accounts when PMB took over. It is now below 28bn USD (It would have been worse if not for the CBN's restrictive polices).

IF gej had saved...we would have had at best 100bn USD. or 60BN usd.(Compare that to the Saudis).

Long and short....Nigeria is not a rich nation. We never had enough money...which is why corruption here is evil, but most Nigerians don;t see it that way.

Rich nations are nations that spend money on innovation and tech and science and industry. Does Nigeria do that? PDP and APC are not ready to do that because....Nigerians do not want to undergo the hardship that comes from doing the hardwork needed to become like CHina and Japan and company. You Nigerians just want a nice office job and salary every month. Well....I am here to tell you that the job does not exist...and that even if gej saved, and excluded corruption....we still have the problem of Nigerians living for govt welfare.