₦airaland Forum

Magnifico2000:
Why im i wasting my time replying u?

But you just succeeded in doing so once more.

Mendelssohn:
Please consult google and read extensively on what ECA (Excess crude-oil Account) stands for.

Ofcourse! I know what ECA stands for. My question is if the ECA is properly managed by our leaders then why are we facing hardahip in the country? So many state workers are being owed salaries for months. You havent atill answered my question on what the excess revenue in crude oil is being used for.

Mendelssohn:
But you just succeeded in doing so once more.

Because i tot u would have small sense.

400billionman:
The minister of information will give a speech tomorrow that APC body language increased crude oil.price globally.

hahahaha! I like this

9jakohai:
I had my mind changed...NO reset... by one article i read in 2011

http://www.nytimes.com/2012/03/11/opinion/sunday/friedman-pass-the-books-hold-the-oil.html

And that answered a lot of questions for me.

African countries are poor because we sell our raw materials to Europe and Asia for a few billions, and the same Europeans and Asians use the raw materials to make products that earn them ten times more.

Really You don’t need a degree in economics to know that....you sell a barrel of palm oil to me at $20, I use that barrel of oil to produce a tin of paint, a bar of soap and a tin of beverage because I have the technology and power to turn your barrel of palm oil into finished goods..hence, when I sell my tin of paint, bar of soap and tin of beverage back to you, you will be buying them at nearly or over a $100...in the end the one with the technology makes the most profit..

EvilMetahuman:
that doesn't answer my question.

Well you said at your end, but still remain the same here.
Anyway, until things move back to atleast pre 2015 or lower than that. Apc failed woefully. Especially dollars and the price of petroleum.

look at this one. do u know naira once had value than the dollar. Maybe thats when we should go back to and not 2015. the mess has been on for a very long time and yes gej didnt improve anything till the 2015 u want us to go back to...

rozayx5:


Op it is no good news


Not with goat in aso rock

And his team of misfits

Even if oil reaches 500$ a barrel we won't service buharis loans in 10 years

Nna, bros, have you forgotten that at the time Obj negotiated for the cancellation of our debts which is being serviced in geometrical progression every year oil was less than $65 / barrel. The Obj govt left over $60 billion in foreign reserve & other offshore investment.

In 2008 for the first time in global history oil rose to $118 / barrel. Since then till toward the end of GEJ govt oil rose to $140 and later fell. GEJ govt borrowed heavily, Nasir El-rufai was crying seriously against the logic of borrowing heavily while oil price is increasing. They were making noise of Nigeria being the best economy in Africa based on IMF GDP ratings. I believed the madam at the Finance Ministry was part of this conspiracy. The oil fell below $30 / barrel all those noise stopped. The GEJ govt with oil between $118 to $140 per barrel did not save kobo. Rather, they borrowed heavily & spent more than 50% of the money Obj left in foreign reserves leaving $25 billion.

Obj inherited $5.5 billion in 1999 with very huge debt leaving $60 billion in 2007. Ibos hate him but that does not change Providence on his part.

Somebody has started calculating excess crude oil money for Buhari in a budget made with larger portion coming from borrowing & some states exceeding their borrowing limits & also unable to pay salary. The price of oil can only stabilise between $53 & $56 if OPEC maintains regulation. At this price Buhari can't service any loan, we need money to service infrastructure & power.

My fear is the northern system of governance which is not developmental but rather centered on manipulation by cabals.

time for d aso rock demons and de senate to rob.... set of castrated donkeys..#operation milk naija cow dry

Skykid1208:
Please, how can I write a post on Nairaland and for the post to be on front page......

wake up in the mid night around 2a.m dip your hand inside palm oil for 20minutes and say eyin iyami oshoronga mofe wa ni front-page then create the thread.

Oblang:
look at this one. do u know naira once had value than the dollar. Maybe thats when we should go back to and not 2015. the mess has been on for a very long time and yes gej didnt improve anything till the 2015 u want us to go back to...

Proudlyngwa:
Why didn't you say till things move back to pre1999 era.
[s]Lower the dollar and watch all the gains made in manufacturing and agriculture disappear .[/s]
Unfortunately petroleum products is dependent on dollar rate.


We need to learn how to start making sacrifices .Nothing comes easy.

Just look at these ones.

what happened to moving back to 99 era?
Isn't changing things for the better the reason we voted apc and their change mantra?

Why exactly did we vote apc again? To come and increase dollars and make everything else miserable?

Who forced them to make promises they cannot keep?

I'm not even asking them to keep their promises again, I'm asking them to leave us where they met us, these ones are telling I don't have the right to ask.

Why not kuku continue with shitty pdp, atleast we already know they are thieves instead of subjecting ourselves to bigger monster that plays politics with our suffering.


Seriously, what has apc done to make me wanna sacrifice another two years or four years for them?

laffwitmi:
Bad news for wailers...

You guys will wail till 2023

if oby ezekwesili, charles soludo, emir sanusi, twitter orubebe obajuwa whatever is name is could join the wailers club, bobo with time u go join.
Just pray make form dey when u come calling.

Desyner:
The funny thing is Nigerian muslims who are ready to burn Nigerian Christians down in solidarity of percieved injustice against Iranians are the ones benefiting most from the oil money.

Hatred for Islam and Muslims has made this guy to develop hypertension, definitely, he will slump and die any moment.

lilytender:
Hatred for Islam and Muslims has made this guy to develop hypertension, definitely, he will slump and die any moment.

What hatred? You described your feeling for infidels.

Magnifico2000:
Look for snakes and other wild animals. Kill them or preserve them, take pictures of it then shout lalasticlala and see if you wont make frontpage in 1second.

Thank me later.

Be reasonable, even if it's just once.. I'm serious about what I'm asking... I'm not kidding.. Got that..

idris4r83:
wake up in the mid night around 2a.m dip your hand inside palm oil for 20minutes and say eyin iyami oshoronga mofe wa ni front-page then create the thread.

See come, you get sense at all.. Go borrow small sense so that you go wise small.. I'm not joking, I'm serious about my question.

EvilMetahuman:
Just look at these ones.

what happened to moving back to 99 era?
Isn't changing things for the better the reason we voted apc and their change mantra?

Why exactly did we vote apc again? To come and increase dollars and make everything else miserable?

Who forced them to make promises they cannot keep?

I'm not even asking them to keep their promises again, I'm asking them to leave us where they met us, these ones are telling I don't have the right to ask.

Why not kuku continue with shitty pdp, atleast we already know they are thieves instead of subjecting ourselves to bigger monster that plays politics with our suffering.


Seriously, what has apc done to make me wanna sacrifice another two years or four years for them?

There is what we call reality. If are not earning enough from our major source of fx which is oil, there is little we can do abt the exchange rate....

Oblang:
There is what we call reality. If are not earning enough from our major source of fx which is oil, there is little we can do abt the exchange rate....

after they promised us a well diversified economy yeah?

EvilMetahuman:
after they promised us a well diversified economy yeah?

Diversification does not happen overnight

Oblang:
Diversification does not happen overnight

and what are being done to diversify the economy?

Look for more oil in the north?

EvilMetahuman:
and what are being done to diversify the economy?

Look for more oil in the north?

There is nothing wrong with maximizing our oil potential. It does not stop other sectors. There is currently more focus on Agriculture.

Oblang:
There is nothing wrong with maximizing our oil potential. It does not stop other sectors. There is currently more focus on Agriculture.

The focus seems to be more on the oil we are trying so hard to get away from.

and where is this focus on agriculture exactly?
Last time I checked, foods are still expensive.

How long do you think it takes to plant stuff and get them to market? 4years? 8 years?

How anyone is still buying this dumb newspaper propanganda is beyond me. Seriously!