₦airaland Forum

don4real18:
The naira still had a reasonable value then... Not now that N5 is worthless

And who made it worthless?

sonofoluku:
You are so dumb.Crude oil was $140 during Obasanjo era.

Look at the nitwit calling someone dumb. You couldn't even search Google before disgracing your family.

PDP squandered 780 billion dollars of crude oil earnings.

NORTHERN NIGERIA SHOULD RETURN TO AGRICULTURE AS THEIR CONTINOUS DEPENDENCE ON CRUDE OIL MONEY FROM THE NIGER DELTA REGION IS DRAINING IMPACTFUL DEVELOPMENT IN THE NIGER DELTA ESPECIALLY DURING THIS LAST YEARS OF OIL GAINS.

If the rest parts of the country work for their own money and leave the crude oil producing states to control their money and resources. Meaningful growth and development will take place in the Niger delta region.

In Warri for example, the federal control sea port is not impacting on the lives of Warri people as no meaning seaport activities takes place there.

Koko seaport is dead

Onne sea port is managing to receive cargo

Calabar sea port is also dead.

Only Lagos seaport ( Apapa ) that is working.

Imagine the number of states waiting for crude oil money to be allocated to them before thinking of creative way to bring money to their government.

THIS IS A WARNING THAT FEDERAL GOVERNMENT SHOULD COMMENCE THE RESTRUCTURING OF OUR OVER BATTERED FEDERALISM.

Each states in Nigeria must contribute to the centre instead of being spoonfeed with crude oil money.

post=69910327:
WE wonder when it will ever go back to the prices it was when the thieves and rogues raped the country so bad.
Thank God for President Buhari.

Nigeria's total crude oil sales was $470B in all 5 years of Jonathan's administration...
He was the luckiest of all Nigerian leaders whose administration in five years, between 2010 and 2015, earned about N51 trillion from petroleum resources. Since he came to power on May 29, 2015, the President Buhari administration has been able to earn just about N6 trillion from crude.

We all knew what happened to the majority of the money in Jonah and the 40 thieves era.
Thank God for the new Sherrif in town!

Nonesense....

We all know everything has time and season and if that doesnt favor Buhari, am sorry to say that it wasnt his time to be president or roughly put, God isnt on his side yet but since he chose to imposed himself on nigerians, he has not be using his brain but be chasing shadows and using force to make things work but only making thing worse.

Just last week, CBN cried out that this country has not been saving under this dispensation. Your incompetent president knows that the oil prices are low but he came up with the highest budget in the history of this country back to back. He just posted another supplementary budget of 242billion just for elections, another highest in entire history of this country... I can bet anything that if elections were free and fair, it wont cost one-third the amount to conduct elections but because there is a sinister move is the reason why he needs so much just for elections and you expect such a man to save. Nonsense.

We heard he withdrew 1billion dollars for security but we cant see the impact in benue, adamawa, zamfara, kaduna, yobe or those states challenged by security issues and you talk about saving.

He didn't reduce the cost of governance by any means. Even he himself gets treatment abroad and in 2 weeks he is going to waste taxpayers money again on another medical tourism and he expects oil prices to favor him.

They talked about diversification for the firat 2 years of their governmentbut one wasted money to golook for fuel in the north and you talk about saving. That goat after realizing that diversification is just a theory decided to go back to ekiti to be governor since he will in the front page all the time there.

Impossicant... even me wont favor him. Nigerians that did are regretting it. Intergrity my foot.

Should it be expensive or less expensive and it is when there is scarcity that the price can increase

post=69910327:
WE wonder when it will ever go back to the prices it was when the thieves and rogues raped the country so bad.
Thank God for President Buhari.

Nigeria's total crude oil sales was $470B in all 5 years of Jonathan's administration...
He was the luckiest of all Nigerian leaders whose administration in five years, between 2010 and 2015, earned about N51 trillion from petroleum resources. Since he came to power on May 29, 2015, the President Buhari administration has been able to earn just about N6 trillion from crude.

We all knew what happened to the majority of the money in Jonah and the 40 thieves era.
Thank God for the new Sherrif in town!

those who GOD bless vs those who GOD curse, if JONAH

sonofoluku:
You are so dumb.Crude oil was $140 during Obasanjo era.

Hahahaha see them....Figure manufacture association of narialand (FMAN). They can up root figure for you from their coven of witchcraft. fear them ooohh....

hush15:
Nonesense....

We all know everything has time and season and if that doesnt favor Buhari, am sorry to say that it wasnt his time to be president or roughly put, God isnt on his side yet but since he chose to imposed himself on nigerians, he has not be using his brain but be chasing shadows and using force to make things work but only making thing worse.

Just last week, CBN cried out that this country has not been saving under this dispensation. Your incompetent president knows that the oil prices are low but he came up with the highest budget in the history of this country back to back. He just posted another supplementary budget of 242billion just for elections, another highest in entire history of this country... I can bet anything that if elections were free and fair, it wont cost one-third the amount to conduct elections but because there is a sinister move is the reason why he needs so much just for elections and you expect such a man to save. Nonsense.

We heard he withdrew 1billion dollars for security but we cant see the impact in benue, adamawa, zamfara, kaduna, yobe or those states challenged by security issues and you talk about saving.

He didn't reduce the cost of governance by any means. Even he himself gets treatment abroad and in 2 weeks he is going to waste taxpayers money again on another medical tourism and he expects oil prices to favor him.

They talked about diversification for the firat 2 years of their governmentbut one wasted money to golook for fuel in the north and you talk about saving. That goat after realizing that diversification is just a theory decided to go back to ekiti to be governor since he will in the front page all the time there.

Impossicant... even me wont favor him. Nigerians that did are regretting it. Intergrity my foot.

You made goodpoints, however....it is wrong to say that Bubu hasn't been saving.

He has.

What CBN complained about was that government was not saving with much zeal as it was before...

He said the committee was, however, concerned about the liquidity impact of the 2018 expansionary fiscal budget and increasing FAAC distributions due to rising prices of crude oil as well as the build up to election related activities.

On the declining foreign reserves from $47.7 billion in May to $47.2 billion in June, Emefiele said the development had nothing to do with politics as being insinuated.

“What is happening is as a result of US Federal Reserve Bank normalisation. Since the interest rate has gone up in the US, and other advanced economies, in an attempt to stimulate their economies, these money that moved into the emerging economies are now being taken back and this means there will be so much outflow of cash than inflows. And of course we have our own share of it.

“But it must be noted that Nigeria has performed better than other emerging markets around the world, with a stabilised exchange rate because we have been able to build enough buffers to support our currency and that is why the exchange rate has remained stable.

Or how do you explain our savings going up from $28bn in 2015 to $42bn today. With very low oil prices.?

theoldpretender:
You made goodpoints, however....it is wrong to say that Bubu hasn't been saving.

He has.

What CBN complained about was that government was not saving with much zeal as it was before...



Or how do you explain our savings going up from $28bn in 2015 to $42bn today. With very low oil prices.?

When CBN was tryin to cry with caution is very understandable because we all understand the vindictive nature of this government.

Its simple mathematics and reasons. Savings come from excess crude sales and also surplus in income after deducting all that budget funds. nonetheless, dont forget the massive debts that is being procured.

When you juxtapose what is left for savings to what is outstanding as debt, you would realize that there is indeed no savings but cbn wont tell you that else the nation will fall into chaos

so what have we achieved from the sheriff?

post=69910327:
WE wonder when it will ever go back to the prices it was when the thieves and rogues raped the country so bad.
Thank God for President Buhari.

Nigeria's total crude oil sales was $470B in all 5 years of Jonathan's administration...
He was the luckiest of all Nigerian leaders whose administration in five years, between 2010 and 2015, earned about N51 trillion from petroleum resources. Since he came to power on May 29, 2015, the President Buhari administration has been able to earn just about N6 trillion from crude.

We all knew what happened to the majority of the money in Jonah and the 40 thieves era.
Thank God for the new Sherrif in town!

dalaman:
Nigeria has been functioning with crude oil prices at less than 20 dollars per barrel. Throughout OBJ regime crude oil was less than 50 dollars per barrel so PMB should shut up and work with what he has. It's been above 65 dollars per barrel for over a year.

Don't mind them. It's a bad workman that quarrels with his tools.

iammo:
Good point raised. The question is who strategically devalued naira? 100% in just 3 years

Devaluation of currency is not always a bad move and too our country we needed to , our currency couldn't stand the pressure because our main source of income in this country is Oil and it was been vandalised and oil price was changed which affects opec including Nigeria Saudi Arabia and all, apart from that what do we generate in this country and remember this isn't the first time its devalued most government did it from #1 to #6 to #125 to #210 now to #365 .
But did we question why naira lost value then but now we probably have an excuse .
Currency doesn't really matter for us unless you ask Venezuela .
What matters is are we living fine?
Petrol is always readily available now something we couldn't achieve in years.
Food supply is okay now but we are really lacking because of the crime rate of herdsmen and farmers.
Electricity supply is way better than in the years am in Lagos I've been to Ondo Abuja Ibadan Ilorin and everyone can tell the difference for now and years.
Our roads are mostly all looked into and now if not finished in construction.
What about railway?
Job opportunities now is the problem we have less in people that want to stand alone millions of graduate few companies we need to create opportunities ourselves look at the world billionaires they didn't join any government plan to become successful and our government is trying NPOWER and attracting foreign investors to our land.

We are majorly tackling crime/terror and I hope GOD SEES US through

abbeylli:
Devaluation of currency is not always a bad move and too our country we needed to, our currency couldn't stand the pressure because our main source of income in this country is Oil and it was been vandalised and oil price was changed which affects opec including Nigeria Saudi Arabia and all, apart from that what do we generate in this country and remember this isn't the first time its devalued most government did it from #1 to #6 to #125 to #210 now to #365 .
But did we question why naira lost value then but now we probably have an excuse .
Currency doesn't really matter for us unless you ask Venezuela .
What matters is are we living fine?
Petrol is always readily available now something we couldn't achieve in years.
Food supply is okay now but we are really lacking because of the crime rate of herdsmen and farmers.
Electricity supply is way better than in the years am in Lagos I've been to Ondo Abuja Ibadan Ilorin and everyone can tell the difference for now and years.
Our roads are mostly all looked into and now if not finished in construction.
What about railway?
Job opportunities now is the problem we have less in people that want to stand alone millions of graduate few companies we need to create opportunities ourselves look at the world billionaires they didn't join any government plan to become successful and our government is trying NPOWER and attracting foreign investors to our land.

We are majorly tackling crime/terror and I hope GOD SEES US through

You see in all fairness Nigeria can't introduce devaluation and petrol price hike in the same year and not expect reaching effects, for devaluation to be effective a country most be an almost net export economy with little or no import. You see I don't criticize without giving my honest advice on solutions. Before devaluation could be hailed, the goverment must first reduce the cost of governance, presidency shouldn't be buying newspaper for 45m yearly aso rock shouldn't be paying 800m for diesel all ridiculous expenses in the budget must be streamlined and most escpecially politician shouldn't be getting forex in form of estacode when a student can't get such for tuition or for medical trips.

iammo:
You see in all fairness Nigeria can't introduce devaluation and petrol price hike in the same year and not expect reaching effects, for devaluation to be effective a country most be an almost net export economy with little or no import. You see I don't criticize without giving my honest advice on solutions. Before devaluation could be hailed, the goverment must first reduce the cost of governance, presidency shouldn't be buying newspaper for 45m yearly aso rock shouldn't be paying 800m for diesel all ridiculous expenses in the budget must be streamlined and most escpecially politician shouldn't be getting forex in form of estacode when a student can't get such for tuition or for medical trips.

I think cost of governance has been reduced comparable to last terms.
Reduction of ministers ,food cost and others you see about the 40m per year news paper deal and diesel.
I think in Aso Rock not only the president has to be updated and about the diesel all this costs are what we that are not in governments house do this is the Presidents house , many countries spend much than that even when Trumps wife wanted to design white house Halloween it costs much remember the last term president use 4m per day on food cost.

The only point you raised and I won't be biased is granting forex to politicians in an easy rate and not to our students going abroad or already abroad to study it has to be looked unto.

Steadily I know 9ja would get there it wouldn't be an overnight success it would take years and much more better presidents not these selfless confused power hungry ones.