₦airaland Forum

SillyMods:
PMB is a quiet achiever. No need to make noise too much.

The economy they destroyed for sixteen years, they want it repaired in two years! Even a building destroyed in one day cannot be rebuilt in one week.

Shameless jokers PDP and their supporters are.


The Solid Minerals sector is actually doing great. Kudos to Fayemi in this regard.

richeeyo:
What do you know, NOTHING, comment rubbish because you want to post first

9jaDoc:
Seriously, does it affect price of garri?

Ok, at least seems we r solving one thing...

Anybody has ideas how we can also solve the following:

1) rampant corruption everywhere
2) corrupt politicians
3) corrupt police
4) SARS
5) ritualists,
6) kidnappers,
7) conmen,
yahoo boys,
9) brazen robbers,
10) Boko Haram,
11) IPOB,
12) Delta Avengers,
13) baby factories,
14) child molesters,
15) child snatchers
16)human traffickers,
17) poor power supply,
18) ridiculous hospitals,
19) doctor strikes
20) poor schools, universities
21) poor infrastructure,
22) poor water supply,
23) poor waste disposal,
24) poor drainage system,
25) poor building inspection,
26) collapsing buildings,
27) dillapidated housing,
28) poor drug inspection,
29) poor food inspection,
30) poor environmental planning
31) corrupt clearing and forwarding,
32) corrupt customs,
33) no mental healthcare
34) no provisions for handicapped people
35) corrupt legal system,
36) corrupt judiciary,
37) poor banking system, long lines
38) poor and corrupt monetary system (black market)
39) Fulani herdsmen
40) military
41) aviation in general
42) MM Airport, Ikeja
43) filthy and congested seaports (Apapa)
44) rampant strikes
45) fake everything
46) intermittent fuel scarcity
47) generator fumes and noise
48) corrupt FRSC
49) road blocks
50) Non-existent planned public transportation
51) fires and deaths from power surges
52) deaths from unsafe roads
53) In case of fire, long waits for poor response
54) In case of crime, long waits for police response
55) long waits for poorly equipped ambulances
56) very poor emergency healthcare
57) ineffective drug prescription system
58) totally corrupt govt bureaucracy
59) very poor public healthcare sector
60) poor crime investigation process
61) poor forensics
62) poor record-keeping process
63) poor and fraud-susceptible personal identification
64) non-availability of student loans and work-study
65) non-existent credit system
66) non-existent car rental system
67) fraud-prone real estate - "this house is not for sale"
68) no substantial recompense for death or injury due to govt or police mistake or negligence
69) rampant jungle justice, sometimes on innocent people (could be u)
70) extremely high unemployment rate
71) cultists and cult wars
72) hawkers, beggars, mad and near-mad all over

GavelSlam:
Price of foodstuff has reduced make of it what you will.

Firefire:

‘A budget that moves domestic spending in Aso Villa from N580m to N1.7bn cannot be a budget of change’

Abuja – Sen. Eyinnaya Abaribe (PDP Abia South) on Wednesday in Abuja, berated the 2016 budget and called on President Muhammaduu Buhari to withdraw it and go back to the drawing board.

Abaribe while making contributions during the consideration of the budget, said the proposal was faulty on many grounds and could not be implemented at it was.

He said that predication of oil benchmark at 38 dollars per barrel when the crude oil price had fallen below 30 dollars per barrel made the budget unrealistic.

Abaribe faulted the government for increasing spending by 30 per cent based on borrowing.

“Mr President, my colleagues, this budget is indeed unique. After the budget presentation, the finance minister has never come to explain the details of the budget as it is normally done.

“It is a budget of change I agree, but it is a change in the wrong direction. I say it is a change in the wrong direction because it says that it is based on zero budgeting requiring all expenses to be fully justified.

“Mr President, a budget that increases spending up to 30 per cent based solely on borrowing, in what way are we justified? That is the question we want to ask the people who brought this budget.

“We know what is going on in the global economy: this budget is predicated on an oil benchmark of 38 dollars per barrel and I can now say that with oil being 28 dollars today, this budget is dead on arrival.

“The job of the opposition is to help the government to get its priorities right, so I want to please urge this government to withdraw this budget and go back to the drawing board,” he said.

The senator also faulted the adjustments made in the budget as well as allocation for spending in the Aso Rock Villa, saying that it was too exorbitant.

He said that the adjustments rather than reduce spending in areas where they were not necessary only spread it into different offices.

“Mr President, a budget that moves domestic spending within Aso Villa from N580 million to N1.7 billion cannot be a budget of change.

“We were told that in the revised budget there was an adjustment due to error, we agree but what has happened is that up to N7 billion were moved from buying vehicles and spread to offices.

“It also increased the spending that is due to renovations within the Villa.

“They are going to renovate the Villa with N3.9 billion: what else do you want to renovate there that Nigerians will see in the Year 2016?” he asked.

However, in his contribution, Sen. Ahmed Lawan (APC Yobe North) blamed the previous administration for the lack of funds due to the embezzlement witnessed in previous governments.

He said that this was the 17th budget he would be debating as a legislator and noted that not more than 40 per cent implementation was achieved in the last 16 years.

“The proposal before us is the first budget where the executive has deemed it necessary to give ordinary Nigerians genuine hope.

“N500 billion allocated for school feeding and social SAFTEY NET is commendable.

“It is time to say oil should not continue to play dominant role as we have suffered economically and politically: it is time to diversify this economy.

“The direction of the executive is the way to go. `That is, we should make every effort to have the real sector-agric mining and manufacturing.

“The budget deserves the support of everyone, including my colleagues on the other side. When we were in the opposition we supported the PDP, they should support us,” he said.


www.nairaland.com/attachments/3317046_budgettt_jpegd73bb73944448e30966f27bc22a4c756


http://www.vanguardngr.com/2016/01/602809/

DoTheNeedful:
The trade balance should have been presented in dollars. I believe the weakening of the naira against the dollar might be a factor in the high figure.

SalamRushdie:
For those trying to applaud this hogwash just remember its like diluting and bottle of coke with water and claiming you have more coke ..this Balance trade number doesnt generally signify growth in our economic factors of production but just reveals a slump in the quality and standards of living in Nigeria , people are not importing less because there are better locally produced alternatives but because they have cut out a lot of imported stuff because they cant afford E.g the automotive sales industry imported 90 percent less cars because of low demand and this means many Nigerians who want cars are going for Nigerian used cars which means many people have also sold their Nigerian used cars to others to make ends meet...This is reflective of a lower quality of life .

SillyMods:
PMB is a quiet achiever. No need to make noise too much.

The economy they destroyed for sixteen years, they want it repaired in two years! Even a building destroyed in one day cannot be rebuilt in one week.

Shameless jokers PDP and their supporters are.


The Solid Minerals sector is actually doing great. Kudos to Fayemi in this regard.

kitaatita:
Anti-Buhari direction as promoted by Nairaland is demotivating youths who make up most of the users of the forum from exploiting opportunities in government programmes. Nairaland graduates are satisfied as N-power beneficiaries and lack the inclination to make progress in other fields.

SalamRushdie:
For those trying to applaud this hogwash just remember its like diluting and bottle of coke with water and claiming you have more coke ..this Balance trade number doesnt generally signify growth in our economic factors of production but just reveals a slump in the quality and standards of living in Nigeria , people are not importing less because there are better locally produced alternatives but because they have cut out a lot of imported stuff because they cant afford E.g the automotive sales industry imported 90 percent less cars because of low demand and this means many Nigerians who want cars are going for Nigerian used cars which means many people have also sold their Nigerian used cars to others to make ends meet...This is reflective of a lower quality of life .

DonVikings:
Spotted.

The only hogwash we see here is the massive stinking hogwash you just typed. Whether you and the others like yourself like it or not, Nigerians would smile again. You can remain sad and depressed if you like.

Yankee101:
Exchange rate in 2014 : 180
Exchange rate in 2017 : 360

trillion/180 = $5.55 billion in 2014
trillion/360 = $2.77 billion in 2017

It has reduced by nearly half, not increased. Assuming 1trillion was made in both periods.

Voodoo economics.

Yankee101:
Exchange rate in 2014 : 180
Exchange rate in 2017 : 360

trillion/180 = $5.55 billion in 2014
trillion/360 = $2.77 billion in 2017

It has reduced by nearly half, not increased. Assuming 1trillion was made in both periods.

Voodoo economics.

Caseless:
it does. I know if it was otherwise reported, you'd have explained to us why this report(if otherwise) is responsible for the high price of Garri.

bamidelee:
you would get a good garri for 140#/congo in Bodija market
so don't be sentimental

ericsmith:
Donnt let hate be becloud your reasoning ,, balance of payment earnings are made on Int'l market floor ...dollar in use.
therefore whatever earnings made is converted from dollar to the concerned local currency (naira).. what am saying is they've done the conversion from dollar to naira hence those figures ..your point is not just applicable here

Ovamboland:
I still wonder how you people reason, where will the dollar come from when our main source of foreign exchange reduced by 70% in the same period before the very recent increase.

You want the current government to continue the financially reckless policies of the previous government where portfolio investors and speculators creamed off most of our forex while our economy at the real sector stagnated. And you want them to supervise the final burial of the country by getting to a stage that we can't backpup with forex importation of essential products like energy raw materials and machinery while toothpick, shoes, garments, wine continue to be imported.

Massive investment in infrastructure to improve the real sector for stability is ongoing such that agriculture and manufacturing will be the main stay of the economy, yet some of you long to go back to the era of speculators that is prone to evaporation at the slightest sign of slow down

GavelSlam:

I agree but please shed more light on this if you can.

Yankee101:
Read the report again. All figures are in Naira. Stop assuming there was a dollar figure which was higher if it's not shown in the article. Some of the figures include 'goods we refuse to import or didn't need to import or couldn't afford to import' so there was no 'existing' dollars in actual sales that was needed to be converted to naira.

All indices are clear, Nigeria saw a serious decline in imports/exports in the last 2 years, it's just beginning to pick back up to normal levels. I'm not interested in sentiments. Just hard cold numbers.

ericsmith:
hate as totally clouded ur vision ... expecting NBS to serve Nigeria favourable bal. of payment figures in dollars is like expecting ur pay slip earnings in dollar ,,Wil it make sense to you.
NBS as done all d conversion wahala for you,, frm dollar to naira,, if naa dollar you they spend for ur room convert back from naira to dollar,,no SARs will harass u..#free world

Yankee101:
Exchange rate in 2014 : 180
Exchange rate in 2017 : 360

trillion/180 = $5.55 billion in 2014
trillion/360 = $2.77 billion in 2017

It has reduced by nearly half, not increased. Assuming 1trillion was made in both periods.

Voodoo economics.

Bevista:
Exchange rate in 1999 - N22/$
Exchange rate in 2000 - N85/$

Trillion/22 = $45.5 billion in 1999
Trillion/85 = $11.7 billion in 2000

It reduced by 75% in just one year of PDP administration. Now, who is an expert in Voodoo Economics?

ericsmith:
When the news is good ... embittered people that have sworn to remain sad ,,just jump n pass the news .... all some do everyday is look out for bad news.
Nigeria cannt present it GDP in dollars,,stil checkin dollar is nt our national currency..for comparism sake ,,previous trade bal in naira is compared with present bal of payment .

Yankee101:
They compared between 2014 and 2017 in the article. Nobody made the claim or compared the period you just reviewed. And it was the same person that was president in 1999 and 2000. Obasanjo.

Is weed allowed this early in Nigeria?

Bevista:
Lol...you are trying to be clever by half. You were trying to discredit the current administration, but after I showed you how awful the early years of the PDP administration was, you are now spitting scum

Yankee101:
I don't know if you're a paid attack dog or just plain thickness of ...

In economics you compare 2 periods.

Yankee101:
I don't know if you're a paid attack dog or just plain thickness of ...

In economics you compare 2 periods.