kolafolabi:
Diversification is the key now before it's too late

Its already too late dude. With near zero investment in research and education where does diversification start from?

Chai..where all the local and foreign donations come go na!

Racoon:
Not even with the COVID19 donations and foreign assistance cum senseless borrowings.There is just a looting galore of all "lootable" funds going on.El-Rufai, Lai Mohammed are you still there?

I really wish he would see it..

Yenefer:

Why are you sad, your darling president is working nah.

Investments will always trump savings any day

The Covid-19 situation is contributing to economic downturn globally.

Nigeria should brace up for tough situations ahead.

How to Start a Fashion Business

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Nothing positive about this buhari's govt

Just negativity upon negativity

I have nothing to say

sassysure:
One of the strength of every country especially developing countries is foreign reserve.
Make they kukuma finish the whole thing na.
Buhari has bad luck written all over him since the1980s.

They said if some people enter in a house, their aura make it glow while when some enter the same house, it look haunted.
Buhari's aura has been haunting Nigeria. Very bad market. Those way dey go see those people wey dey see future, none of them told them.buhari is bad market?

From being a robot( the drama surrounding him even make me doubt if he is alive) to being a burden.

Bros just make the talk real the guy na waste!!

veeshock:

Its already too late dude. With near zero investment in research and education where does diversification start from?

Simple.

1.We cut subsides on petrol completely, and allow marketers set the price.

2.This brings in more investment in refineries and in gas production facilities

3.This improves power supply

4.Which means more factories and industries would be set up

5.Which means more jobs, and more income for the government.

kikero:


Well the oil prices have been on a downward trend for some time (Brent was $63 in December 2019, now $24.51).

Add the fact that our breakeven oil price, the price that oil should be for Nigeria to have a surplus budget is $139 per barrel.

At the end of the day, our reserves will fall. If we wanted to raise our reserves right now, government would be owing everyone salaries, senators inclusive, and it would be finding it difficult to pay for bills.

Buhari is not a good leader, granted, but he wasn't responsible for making Nigeria's economy oil dependent either.

One of the reasons he was was elected was the bad management of the economy which was blamed on the over-dependence on crude oil revenues , mismanagement of the petroleum product subsidy program, high import bill and many others . If these problems weren’t there Nigerians would not have needed a new leadership. Five years after we are still talking about Nigerian economy being oil dependent. Truth is that he came to also partake in the management and frivolous spending of our receipts which was why the appointed himself the full minister of petroleum resources. There were/are other areas that needed urgent attention ( agriculture , power ) that would have kickstarted the process of diversifying the economy . He wasn’t as interested in those areas as he was in crude oil. The government has failed and will not be able to revive the economy from its present state

sweetsell:
When foreign reserve increases the credit isn't given to Buhari but you despicable souls can blame him whenever it dwindles.

Behold one the problem of Nigeria and mankind....

I see dollar sells at #600 soon in Nigeria

kikero:


Simple.

1.We cut subsides on petrol completely, and allow marketers set the price.

2.This brings in more investment in refineries and in gas production facilities

3.This improves power supply

4.Which means more factories and industries would be set up

5.Which means more jobs, and more income for the government.

Very funny. Gas production and refining capacity/subsidy are two very different and unrelated things. Deregulating the downstream totally would have a barely noticeable impact on power generation/supply.

Thanks Buhari

We need value chain strengthening, it's not enough to export minerals we need to convert them to finished goods. Most of our manufacturing companies are dependent on raw materials from overseas, that has to change, we need to be principal players along the value chain. The major pressure on our external reserve is as a result of import, an inward value chain will reduce this, for instance we can farm corn all year round with irrigation yet the sweet corn on our salad or fried rice is imported, all we need to do is fill the vacuum in the value chain by converting raw corn to canned corn.

sweetsell:
When foreign reserve increases the credit isn't given to Buhari but you despicable souls can blame him whenever it dwindles.

There is no soul more despicable than you, sir. You mean you can justify callousness, insensitivity, uneven standards, incompetence, nepotism, disregard for lives and welfare of certain sections of the country, economic planlessness, and we should just follow you?
Nonsense.

kikero:


Oil is our major earner, and the price of oil has been on a downward trend for some time.

Right now, oil is at $24.

And it is from our oil earnings that we get money to...you guessed it...fund the reserve.

Falling oil prices means that the country does not have enough cash to save...so we have to start relying more on the reserve.

(As an example. in 2014, Saudi had $750billion in its reserve, when oil prices started falling. By 2015, the reserve was at $600billion....150bn lost due to falling oil prices. Alarm bells ringing in Riyadh)

This example shows that Nigeria is very poor compared to Saudi Arabia

This is the time to steal from the purse and claim it's for Covid-19.

[s]

FrLukas:
This is the time to steal from the purse and claim it's for Covid-19.

[/s]

MiniMiniPoPoPo:
pls help us hunger has finished us in Oshogbo
kind hearted Nigerians help us

bro, why the hate against certain tribes. We can't continue like this and expect growth in Nigeria.

Our leaders have frittered away our money

sassysure:
One of the strength of every country especially developing countries is foreign reserve.
Make they kukuma finish the whole thing na.
Buhari has bad luck written all over him since the1980s.

They said if some people enter in a house, their aura make it glow while when some enter the same house, it look haunted.
Buhari's aura has been haunting Nigeria. Very bad market. Those way dey go see those people wey dey see future, none of them told them.buhari is bad market?

From being a robot( the drama surrounding him even make me doubt if he is alive) to being a burden.

This your mention of aura. Are you a mystic

Yenefer:

Yenefer, my sidechick, are you seeing what I saw?

Let’s see how long Nigeria will last. $33 billion reserve with 204 million mouths to feed.

JESU, these Fulani criminals will finish Nigeria

Spacewalk:
bro, why the hate against certain tribes. We can't continue like this and expect growth in Nigeria.

You’re right. But the politicians are solely to blame. The people of Vermont don’t spend their time hating on people of California; that’s the power of decentralisation of Government. But the greedy, power intoxicated politicians in Nigeria wont listen or pay attention to the anomalies.

ouch !!!

One of the essence of foreign reserve is for a country to have where it will fall on in case of national or global dwindling economic crisis, Nigeria will restart the economy again after the lock down from the foreign reserves or/and national sovereign wealth fund

Foolish people like you make me sick. Aside Yaradua which government in Nigeria did not exhibit all the trait u listed or if anyone did a single thing you listed right Nigeria will still be where it is now ?

destinie2019:

There is no soul more despicable than you, sir. You mean you can justify callousness, insensitivity, uneven standards, incompetence, nepotism, disregard for lives and welfare of certain sections of the country, economic planlessness, and we should just follow you?
Nonsense.

Oloriburuku God sake igbo always seeing Yoruba giant tormenting your bigoted father n mother in your dream. If the Yoruba got nothing is this dispensation how is that your pathetic father's problem. As any Yoruba cried to your father for salvation?! It is Amadioha that will destroy your entire household n unborn for mentioning Yoruba in your comment.

destinie2019:

The Yoruba danced in the sun and sweated, used their media outlets to tackle Jonathan, got to the table and got next to nothing in this dispensation.
And forgot their activism.
Chaiiii.... Soyinka, Tinubu, Omojuwa, are these people still alive?

Yenefer:
Now if I said anything like criminal, corrupt about the CBN governor they will tag me tribalistic

Are you blind or just stupid??

when the federal government has been borrowing non-stop. What exactly do you expect?

sassysure:
One of the strength of every country especially developing countries is foreign reserve.
Make they kukuma finish the whole thing na.
Buhari has bad luck written all over him since the1980s.

They said if some people enter in a house, their aura make it glow while when some enter the same house, it look haunted.
Buhari's aura has been haunting Nigeria. Very bad market. Those way dey go see those people wey dey see future, none of them told them.buhari is bad market?

From being a robot( the drama surrounding him even make me doubt if he is alive) to being a burden.

really tho you’re right. He lacks the Midas touch to see things blossom in his time. A second time can’t be a coincidence.

sassysure:
One of the strength of every country especially developing countries is foreign reserve.
Make they kukuma finish the whole thing na.
Buhari has bad luck written all over him since the1980s.

They said if some people enter in a house, their aura make it glow while when some enter the same house, it look haunted.
Buhari's aura has been haunting Nigeria. Very bad market. Those way dey go see those people wey dey see future, none of them told them.buhari is bad market?

From being a robot( the drama surrounding him even make me doubt if he is alive) to being a burden.

You've spoken well. Buhari and his cabinet has finished us.