₦airaland Forum

Please what do we stand to gain if we devalue our Naira?

PMB has sought and got approval from the Senate in 2015 to appoint Special Assistants

It is damn annoying reading about these prophets of doom in Nigeria.

What a weak reason to bring Wike back to life.

Nduka is the owner of Arise TV in case you don't know

Behind every successful looter, there is woman

Behind every successful looter, there is a woman

State of economy out of Buhari’s control, says Okupe

On January 25, 20161:09 pm/In News/Comments


By Ikenna Asomba

Former Senior Special Assistant on Public Affairs to ex-President Goodluck Jonathan, Dr. Doyin Okupe, on Monday, lamented over the precarious state of the nation’s economy, particularly as it relates to crude oil production and sale.

Okupe, who took to his Facebook page, said the volatility of oil prices have threatened the stability of the Nigerian economy, noting that it has become pertinent that this ominous situation is totally out of the control of the administration of President Muhammadu Buhari.
Okupe
Okupe

Okupe said: “These are very critical periods for World economy as it relates to Crude Oil production and sales. For a country like Nigeria it becomes more crucial in view of the fact that close to 70% of government revenue comes from sale of crude oil.

“In recent times however, the volatility of the oil prices have threatened the stability of the Nigerian Economy.

“Specifically the present price of crude oil hovering between $26 & $28 US dollar directly undermines the profitability of the crude oil enterprise, as the cost of production of crude in Nigeria is about $30 USD. This high cost of production is second only to Russia. Saudi, Iran,Iraq all produce at a cost between $12 &$15 USD.

“The danger signal here is clear and profound. The implication of this price regime is that we begin to lose $4-$2 USD for every barrel of crude oil we produce.

“It is pertinent to state clearly here that this ominous situation is totally out of the control of the present administration. But because we are all stakeholders in the Nigerian project and also for the fact that any external threat to the survival or interest of Nigeria calls for a bi-partisan Cooperation, it becomes imperative that we all put all heads together to find a solution.”

Okupe added: “I believe the government must readjust the budget immediately. Recurrent expenditure must be reduced by 50% minimum, while the capital is reviewed to focus mainly on projects that will directly impact on production and export driven initiatives.

“The deficit in the budget must be reduced substantially while the bench mark is brought lower to between $17 & $20 USD.

“There is need to liberalise some aspects of our Forex policies. Nigerians and foreigners must be encouraged to bring in their foreign currencies with absolute necessary guarantees.

“Lastly while the current anti corruption war must continue unabated emphasis must now be placed on recoverable to boost our foreign cash inflow. The need for the government to declare a national emergency and nationwide austerity measure regime cannot be over emphasized.”

Is anybody still in doubt that this Government means business

This is how to be a First Lady

Hello Mr. Lawyer, I didn't see anywhere he was beaten in this video. As his lawyer, you would advised him not to resist arrest

The best I have read from you in a long time

God bless you Kayemo

I dont blame them,
we all know what is right buh we are too scared
to face the truth.
the elite would keep on handing power over from
one generation to the other from father to child.
while we would keep on being slaves
i pity those who are yet to see the light
those that shout SAI BUHARI.

What has Buhari got to do with this

Rubbish story.

Kudos to you Mr. President. This is a welcome appointment. Round peg in a round hole

deadZONE, I know you will readily jump at the offer to be Buhari's house boy

I am a full blooded Igbo man. It is damn too early to accuse President Buhari of any agenda against the Igbos. There are thousands of appointments yet to be made.

What is shocking about this news?

Party Supremacy

Sure footed

What is so special about. Is he not a human being like others on queue

This is a true story of the shady deals of Atlantic Energy. I am privileged to know most of the staffs that worked there

Very very nutritious

Nice one Basketmouth, I hope those fools will listen to your candid advise

Basketmouth, nice one. I hope those fools listen to you

Good move, NFF

I hope and pray this arrest leads to the rescue of the abducted school girls

Ok, governors needs to pay their workers on time, they are taking time.

But apart from that we are still waiting for buhari promises
1) 1 dollar = 1 naira
2) he will stabilise the prise of oil
3) petrol would be sold at 20 naira
4) nigeria would become a super power
5) boko haram will end in one month time
6) pregnant chicken would be taken in a good hospital for safe delivery
7) all the cows would have a good helipad, incase of exportation
8 Ashawos would further their education in italy
9) 24 hours light
10) tap would be running everyday
11) all mosquitoes would be given subsidy so that they would stop biting and causing malaria

infact the list is too much, buhari what is happening nitori olorun.
Ok na continue

You are just a deluded fellow

Charge and Bail Lawyer, go and drown inside the lagoon

One of many appointments that will made this week by our amiable President. Welcome on board Laolu

Saraki, running from pillar to post asking for forgiveness when you don shit for mosque