₦airaland Forum

Ontarget:
I feel for Buhari. He is taking the blame for all the sins of the previous governments plus his. The truth is that most of our present failures are as a result of the failures of the previous administrations to lay a good foundation for the future.

Hope you recall the dullard is also among especially during his first coming btw 1984-1985 otherwise your stupidity go get part-2.

obailala:
When you step on the breaks of a moving train, it continues to move for a while (decelerating) before it eventually stops. Oil still sold for over $65 when gej left office, but the gdp growth rate was already nosediving, and had fallen to 2.3% as at the time gej was handing over. Of course just like a decelerating train, it continued slowing down and crossed the zero line after buhari had taken over. See the image below..

https://cdn.tradingeconomics.com/charts/nigeria-gdp-growth-annual.png?s=nigeriagdpyoy&v=201603120907n

From 6.5%, the gdp rate dropped (proportionally to oil price) to 2.3% under GEJ's nose, even though oil still sold above $65 as at the time gej left office but you think GEJ the PhD holder was an omniscient god... Now the already nosediving growth rate fell further to the present -2.06% under buhari, even though we all know oil prices (which gives Nigeria over 92% of its income) dropped further to below $30 at a time, but you think this is all buhari's fault and not a single fault of jonathan or other previous leaders?.... probably you expect buhari to be a miracle worker to automatically turn things around or print forex...

What exactly do I call this your deep prejudice driven baseless and shameless judgement of buhari?

When you step on the brakes of a train it slows down to a stop, it takes the actions of the driver to engage the train in reverse motion, the economy slowed down, but Buhari engaged the reverse of recession by refusing to heed the advice of global economists, including IMF's Christine Lagarde to devalue and remove fuel subsidy July 2015 and save the economy from recession which Buhari refused and asked them the ones was devalued before what has it done for Nigerians?

It is an eyesore watching the naked dance of shame by gullible zombies in the name of defending Buhari.

Gworo chewing dullardihno

obailala:
Oh yes the last admin did not inherit eldorado but at least they inherited a nation with reserves and savings running up to $60bn, they also inherited a nation with less than $5bn in external debts. They did not also inherit a nation which had just recently lost over 60% of its income so your comparison is baseless. The true test of the last administration's competence was in the last 6-9months when oil prices began to crash. That period was what exposed tne ass of the last admin. FG borrowing to pay worker salary, fuel importers owed for 9 months, gdp growth rate that nigeria boasted of at 7% crashed steadily to 2.3%, foreign reserves crashed by $10bn in 6 months, the money was probably used to stabilise the naira but the naira nevertheless still crashed from N160 to N220 in less than 6 months etc etc.... I could go on and on... go get yourself informed, the economy was booming because oil price was unprecedentedly high all throught that admin.. Except you will say GEJ was the one who made oil price high, then your argument golds no water.

Regarding the $30billion foreign reserve, the $3.7billion obj inherited os worth about $37billion today (if only you understand the concept of foreign reserves). Nigeria's import bill today is more than 10 times what it was in 1999. Compared to today, how many people in 1999 were into inportation?... how much was the demand for forex then compared to today when everyone has an international atm card?

base on your assertion, the last administration inherited 60 billion and spent 30 billion within 5 years with fuel subsidy inclusive. this current administration has inherited 30 billion without fuel subsidy. how has it prudently managed the money left in it coffers, rather than give excuse and blame the unblameable. the truth is if this current administration were actually really competent the true exchange rate will be 250 naira to a dollar. but the useless and toxic policy of this administration is what is bringing untold hardship upon nigerians. no amount of excuse is tenable for this current incompetent and useless administration.

IBBG:
you still contradicting yourself. if oil price is falling should'nt the president look for elsewhere to deversify the ecoomy? abi diversification na just for mouth?

Diversifying = Time (years) + Money

Diversification, a feat which pdp couldn't achieve in 16 years is what you are blaming a new government of being unable to do in 1 years?... You should be clapping for yourself.

IBBG:
base on your assertion, the last administration inherited 60 billion and spent 30 billion within 5 years with fuel subsidy inclusive. this current administration has inherited 30 billion without fuel subsidy. how has it prudently managed the money left in it coffers, rather than give excuse and blame the unblameable. the truth is if this current administration were actually really competent the true exchange rate will be 250 naira to a dollar. but the useless and toxic policy of this administration is what is bringing untold hardship upon nigerians. no amount of excuse is tenable for this current incompetent and useless administration.

The 'competent' PhD holder led past admin with a world renown NOI spent $10billion of our foreign reserves to stabilise the naira in their last 6 months but the naira still fell from 160 to 220. The new admin couldnt risk spending a dime to defend the naira cos the reserves had been depleted to dangerously low levels but you expect naira to be 250 because you think the new admin is headed by a demi-god?... clap for yourself.

luvinhubby:
When you step on the brakes of a train it slows down to a stop, it takes the actions of the driver to engage the train in reverse motion, the economy slowed down, but Buhari engaged the reverse of recession by refusing to heed the advice of global economists, including IMF's Christine Lagarde to devalue and remove fuel subsidy July 2015 and save the economy from recession which Buhari refused and asked them the ones was devalued before what has it done for Nigerians?

It is an eyesore watching the naked dance of shame by gullible zombies in the name of defending Buhari.

I showed you a chart of our growth rate declining rapidly, but you think even though GEJ and his world class crew couldnt do anything when the oil prices were still considerably higher, you expected buhari to wave a magic wand and turn things around with oil prices below $30?... To you and your co travellers it just has to be buharis fault 100% and these are the same people accusing buhari of blame game?.. Tufia... your deep prejudice for buhari has completely eroded the last semblance of objectivity in you.. good night

obailala:
The 'competent' PhD holder led past admin with a world renown NOI spent $10billion of our foreign reserves to stabilise the naira in their last 6 months but the naira still fell from 160 to 220. The new admin couldnt risk spending a dime to defend the naira cos the reserves had been depleted to dangerously low levels but you expect naira to be 250 because you think the new admin is headed by a demi-god?... clap for yourself.

you keep dodging the main question, and beating around the bush. this govt has done nothing to improve anything. instead they've further accelerated, excerbated, and compounded the situation on ground. their expired policy is what is really causing the problem. that is why nigerians are calling for their heads, so far so good no right step in the right direction. instead they are busy slow footing when it comes to coming up with concrete plans to effectively manage the economy.

SycophanticGoat:
Wow!! Just like I started the body odour stuff and viola, it went viral.. I suppose start to charge people for my content oh...

Register them under the Copyright Society Of Nigeria. (Patent Law). Anybody or group that quote them would have to acknowledge you or be ready to be charge for plagiarism.

obailala:
I showed you a chart of our growth rate declining rapidly, but you think even though GEJ and his world class crew couldnt do anything when the oil prices were still considerably higher, you expected buhari to wave a magic wand and turn things around with oil prices below $30?... To you and your co travellers it just has to be buharis fault 100% and these are the same people accusing buhari of blame game?.. Tufia... your deep prejudice for buhari has completely eroded the last semblance of objectivity in you.. good night

if buhari feels there is nothing he can do, he should resign and get out of office for those who can do it to step in. no point giving us those untenable excuse of waving the magic wand. he should save us the money we would wasting on his salary for doing nothing. being the president is not about going there to tell us about magic wand and other useless analogy.

Our leaders don't produce, they don't plan and they are not thinking at all. Except "we will do dis in 2018" to win another elections to press citizens to hardship and prices of things will just stood up and say to youths yes i am, i'm going higher now adays.

obailala:
I showed you a chart of our growth rate declining rapidly, but you think even though GEJ and his world class crew couldnt do anything when the oil prices were still considerably higher, you expected buhari to wave a magic wand and turn things around with oil prices below $30?... To you and your co travellers it just has to be buharis fault 100% and these are the same people accusing buhari of blame game?.. Tufia... your deep prejudice for buhari has completely eroded the last semblance of objectivity in you.. good night

Oil prices slump started 1 year before Buhari took over and the economy went into reverse 1 yr after Buhari assumed office, which chart do i need again to conclude him incompetent?
Buhari is the president when Nigeria slid into it's worst recession despite inheriting a $40 billion war chest, he has 110% of the blame.

It is a pity that in trying to defend the confused cattle rarer you campaigned into office your likes have exchanged sound reasoning for impoverished sentiment.

under this dullard the economy is shaking heavily to extent it is causing physical earthquake in kaduna, starvation and disease in bronue and river niger is drying up in raining season instead of overflowing. how did we get here?

Cc antiwailer, funkymetahuman, modath, ngeneukwenu n related zombies

blueto:
20 Warning Signs Buhari Would Destroy Nigeria’s Economy Which Were Ignored

We told them that General Muhammadu Buhari is an economic assassin. But they claimed his integrity will block loopholes.

But now, naira is on free fall, falling oil prices, inability to sell oil, Biafra agitation, Boko Haram moves, governors’ inability to pay salaries.

We told them that he’s corrupt just like his fellow cronies, but they claimed he never stole a dime.

We told them that Buhari is OLD, DULL, and SLOW, but they said they preferred a dullàrd that created Western Germany and President Mitchell’s to a Ph.D. holder that transformed the Agricultural sector of the economy.

We told them he doesn’t have the moral standard, will and the technological knowhow to tackle corruption, but they claimed even witch hunting is fighting corruption.

We told them he’s full of LIES and DECEIT, but they hoped on the mirage NGN5,000 salary for the jobless and one meal per day for their kids.

We told them that since he knew nothing about fuel subsidy, then he knows nothing about the petroleum industry/sector of the Nigerian economy but they claimed he’ll stabilize world oil price and reduce PMS price to NGN40 per litre.

We told them he has no respect for the rule of law, but they claimed the judiciary was corrupt.

We told them his government is usually marked with heavy job losses and too harsh economic policies but they said they preferred to be jobless in a change government than to be gainfully employed in a Transformation government of Jonathan’s administration.

We told them he is not as humble as he looks but they said he had only NGN1 million and 150 cows.

We told them that he’s too old to govern, they claimed our youths are wasted generations.

We told them he doesn’t have a certificate, they said he can use his NEPA bill.

We told them he’s vindictive, but they said as far as they are concerned, he can employ all his family members, relatives and well wishers into his cabinet, even if they have no formal education, as long as they deliver.

We told them he’s an enemy of democracy, they claimed they prefer his autocracy to the Nigerian Democracy.

We told them he’s not humble but only a pretender, they said he’ll sell off the presidential jets in order to cut cost of governance.

We told them he doesn’t care about the Nigerian citizens, but they claimed he belongs to everybody and belongs to nobody, even though his appointments were mainly for the north, he embarks on fruitless journeys and speaks only to BBC Hausa.

We told them he supported Boko Haram, they told us that even if they found him in a meeting with Shekau and co, that wouldn’t stop them from voting him.

We asked for any tangible thing he’s done for the country after staying away from government for so long, they claimed it didn’t matter.

We told him to get up from honeymoon and hit the ground running, but they called us Wailers..

Finally, we told them he’s a scam, but they shouted Sai Baba!

Behold Nigerians, here is your much desired change!

But then Nigerians there is this saying says, “No matter how long you have travelled on the wrong road, the only way you can get to your destination is to stop and return to the right road”.

Nigeria has been travelling the wrong road in the past 55 years, the earlier we receive common sense and reverse our folly, the better.

Source

Commenting on the drop in investment inflows into the country, financial analysts said the current fiscal and monetary policies of the government were not friendly to investors.

No, na PDP 16 yrs cause am. Stupid and selfish old retard dullard of a President no go hear.

Ontarget:
I feel for Buhari. He is taking the blame for all the sins of the previous governments plus his. The truth is that most of our present failures are as a result of the failures of the previous administrations to lay a good foundation for the future.

You should be ashamed of yourself to still be blaming Jonathan after almost 2 years in office?. Kindly shut your mouth. How did the previous government cause investors to leave Nigeria? If you have no sense to comment sensibly, why not shut up?!

obailala:
Businessmen dont take their money to locations where their isn't money; even the akara and akamu seller would prefer to take their wares through neighbourhoods where there is substantial wealth.

Foreign investors aren't charities, rather they are fair weather businessmen who come when there is money flowing around and exit when the money stops flowing. They will all rush back into Nigeria the moment the economy regains consciousness.

You mean after buhari leaves?

mctifey:
thanks man i was in a rush to make that infograph, that'll be about 323%

It's actually 223%

progress69:
The much celebrated economist by PDP and flat heads actually warned about a reccession in Nigeria way back in 2012 due to a slide in oil price. Oil price then was actually just abit below $80/barrel. I am talking of Madam Okonjo Iweala.

http://www.vanguardngr.com/2012/06/okonjo-iweala-warns-of-economic-recession/

please, next time you quote me, kindly do away with all derogatory tribal references.

if you must blame a tribe, call them out straight & pass your point across. it will make your submission look more thoughtful rather than hateful. let the change begin with you.

now, on too your point.

its true that the PDP warned about recession, but i believe they would have been better equipped to manage what they saw 4 years ago.

one of the reasons that they warned of recession was the unsustainability of paying subsidy on PMS, DPK. at $80pd of crude oil, imagine the money that would have been saved if subsidy had been removed then, because the higher the cost of the raw material, the higher the cost of the finished goods & vice versa (except in the economics of APC).

even if government spending is reduced, a country with good economic policies will always attract foreign investors. those investors bring in the desired FX & technology transfer the country needs & of course job creation.

this regime needs to up its economic game & become politically correct in the way it deals with its citizens.

obailala:
The 'competent' PhD holder led past admin with a world renown NOI spent $10billion of our foreign reserves to stabilise the naira in their last 6 months but the naira still fell from 160 to 220. The new admin couldnt risk spending a dime to defend the naira cos the reserves had been depleted to dangerously low levels but you expect naira to be 250 because you think the new admin is headed by a demi-god?... clap for yourself.

What do U mean by dangerously low reserve. Check out our history of reserve
http://www.indexmundi.com/facts/nigeria/total-reserves

Ontarget:
I feel for Buhari. He is taking the blame for all the sins of the previous governments plus his. The truth is that most of our present failures are as a result of the failures of the previous administrations to lay a good foundation for the future.

I THINK IT WILL BE BETTER IF YOUR SHUT YOUR MOUTH!

XaintJoel20:
Register them under the Copyright Society Of Nigeria. (Patent Law). Anybody or group that quote them would have to acknowledge you or be ready to be charge for plagiarism.

LoL.. That long procedure for just a comment made on Nairaland? LoL.. Well I'm actually happy it is becoming popular.. Here are the threads the comment were first made...

https://www.nairaland.com/2756255/long-queue-nnpc-mega-station#40316999

https://www.nairaland.com/2758063/economic-woes-heighten-buyers-shun#40342140

Ontarget:
I feel for Buhari. He is taking the blame for all the sins of the previous governments plus his. The truth is that most of our present failures are as a result of the failures of the previous administrations to lay a good foundation for the future.

Nigerians self previous previous! if the previous government good why Nigerians vote dem out? so Nigerians vote Buhari in to serve us different from the previous government. if Buhari can't do the job make em fine em way out 2019 no need of previous here n there. if company employ u, n u can't do the job bros no two way about it na straight red card.

This Daura El -Dullardilho woudnt resign now but until he destroy everything that is left in Nigeria.
Like my grandma would ask, wich kind miskate nigeria come make to make buhari president ?

banio:
What do U mean by dangerously low reserve. Check out our history of reserve
http://www.indexmundi.com/facts/nigeria/total-reserves

Compared to Nigerias import bill at the times, having just $30billion at a time when the main source of forex inflow had dropped by 60%, that was dangerously low. It could barely meet up to 3 months import bill and Nigeria depends on imports for even food.

achieverme:
You mean after buhari leaves?

The point is, buhari isnt the one who chased investors away, lack of money in the economy did... It doesnt matter when tou understand this or not, but when the economy picks up and money begins to flow again, the investors will return, under buhari or not. 1 billion Nigerians like yourself can keep blaming buhari for the downturn but that doesnt make it his fault.

obailala:
The point is, buhari isnt the one who chased investors away, lack of money in the economy did... It doesnt matter when tou understand this or not, but when the economy picks up and money begins to flow again, the investors will return, under buhari or not. 1 billion Nigerians like yourself can keep blaming buhari for the downturn but that doesnt make it his fault.

And do you know what caused lack of money in the economy? Buhari's unreasonable policies.

ivandragon:
please, next time you quote me, kindly do away with all derogatory tribal references.

if you must blame a tribe, call them out straight & pass your point across. it will make your submission look more thoughtful rather than hateful. let the change begin with you.

now, on too your point.

its true that the PDP warned about recession, but i believe they would have been better equipped to manage what they saw 4 years ago.

one of the reasons that they warned of recession was the unsustainability of paying subsidy on PMS, DPK. at $80pd of crude oil, imagine the money that would have been saved if subsidy had been removed then, because the higher the cost of the raw material, the higher the cost of the finished goods & vice versa (except in the economics of APC).

even if government spending is reduced, a country with good economic policies will always attract foreign investors. those investors bring in the desired FX & technology transfer the country needs & of course job creation.

this regime needs to up its economic game & become politically correct in the way it deals with its citizens.

Spare me all these stories. Remove subsidy to be relooted. Asides sure P, where are the refineries promised, where are the buses? All these was after the agreement of a partial subsidy removal. Subsidy was a problem they were encouraging. How else can one explain subaidy claimals jumping from just about 3bn Naira to above 2 trillion in 2 years? How else can one explain subsidy paid on kerosense where nobody was actually buying kerosene for the subsidized rate of N55. Wanna shift ur problem to the innocent masses? Hell No. No excuse for not saving when oil was selling above $100. During the global melt down, Nigeria could escape because of our robust reserves then. Despite depleting the reserves by more than 50%, Naira still lost 20% of its value. Don't bloody tell me PDP would have been better.

luvinhubby:
Oil prices slump started 1 year before Buhari took over and the economy went into reverse 1 yr after Buhari assumed office, which chart do i need again to conclude him incompetent?
Buhari is the president when Nigeria slid into it's worst recession despite inheriting a $40 billion war chest, he has 110% of the blame.

It is a pity that in trying to defend the confused cattle rarer you campaigned into office your likes have exchanged sound reasoning for impoverished sentiment.

Okay, it is obvious that I am conversing with an illiterate or a prrson who is feigning illiteracy. Because I showed you a graph detailing where the drop in the economy started from but just like a kid, you keep being fixated on where it crossed the zero line. I gave you an analogy that if you cut a tree today, the leaves begin to dry up after a week, but that doesnt mean the tree was cut after a week. The hardest person to wake from his sleep is the man faking the sleep. You are obviously faking your ignorance by you continual insistemce that things went bad only after 1 year of buhari even despite the economic charts I showed you. Goodluck in your igborance.

Investments inflow shrinks because Niger Delta Avengers (NDA)were blowing up our major source of foreign exchange earnings. And since we do not have much foreign reserve, investors were discourage from coming to the country . And this NDA are sponsored by PDP who have just been democratically overthrown from power by the wrath of the Majority after 16 years misrule. It is corruption fighting back.At the end of the day it is PDP that is still responsible for our present national woes, and should be seen by all patriotic Nigerians as evil that must be permanently buried.

obailala:
Okay, it is obvious that I am conversing with an illiterate or a prrson who is feigning illiteracy. Because I showed you a graph detailing where the drop in the economy started from but just like a kid, you keep being fixated on where it crossed the zero line. I gave you an analogy that if you cut a tree today, the leaves begin to dry up after a week, but that doesnt mean the tree was cut after a week. The hardest person to wake from his sleep is the man faking the sleep. You are obviously faking your ignorance by you continual insistemce that things went bad only after 1 year of buhari even despite the economic charts I showed you. Goodluck in your igborance.

You have not denied the fact that things got badly messed up 1 yr into Buhari's tenure, you have not also denied the fact that oil slump started 1 yr before Buhari came in, the chart you have being singing about like a canary bird just showed an economy that slowed down and not one in recession. Your analogy of a tree cut down is wild to say the least because Nigeria's economy is still sustained by crude earnings, agric and solid mineral export, the tree is still connected to it's tap, albeit with a decrease in sap suppy which could have been augmented if Buhari had not embarked on wild goose chase of 'fighting corruption'.

Haba! education is not literacy my friend.