₦airaland Forum

Good points, but do you export anything yourself? If yes, please what is it?

blueto:
This is what happens when the govt is so clueless and myopic to foresee and evaluate the future effects of their decisions.

meanwhile, we are still waiting for the Yuan deal.

The Presidency has every right to do what is constitutionally right. HoR, Senators, govs are busy exploiting this same constitution to thwart the efforts of the presidency, so why can't the presidency act according to the constitution? People are being lynched because the constitution permits their religion. Until the constitution is purged of fraud and protected there will continue to chaos.

512 Naira or MegaByte? God help us. Abeg How can I start hussling on fiverr and freelancer?if you are lucky and hit £100 that's N50,000.

faladeSM1132:
Mr man did you read this news before tying?
Ho i don't think so
Because the News says we have over $30b dollars when PMB get to power,
Are you telling me this regime can not put our economy in shape with that figure of dollars?
The problem we are facing now have started since the beginning of this government,
How can you stop all root of forex in your country just a day without solid process?
Almost 80% of what we don't produce in Nigeria is contraband now and we can't do in a day without consuming this products .
There is money in Nigeria but we still don't have good manager, that's it

Even if you read it 100 times your understanding of the topic is obviously retàrdèd. The $30B itself is a measure of the economy. You don't use the ''economy'' to fix the economy.

CSTR13:
But oil is currently being sold above the bench mark set by the buhari's administratation. So what are they doing with the excess?
Are these afonjas brainy at all ?

The bench mark was set so low to guide against the effect of false expectation. Under your hero it was average $75 as against ~$38 yet the final budget figure are practically the same. Use your brain dude.

Miles300:
that's not the point my friend , what am saying is , it's beyond political party issues on who is to blame or who's not to blame .. A solution should be found for economy recovery before we start surviving on foreign aid ..

Ok.

Miles300:
my brother leave PDP out of this one oo, PDP time still better pass dis one .. It isn't about political party any more , it's how to revive it now.. There is hunger in the land

How was PDP's time better? PDP was privileged to have oil selling well beyond the project benchmark to sustain our system. If it was truly better why did PDP borrow to pay salary before may 29 2015 hand over?

Pidggin:
You will not find dropshot/passingshot, NgeneUkwenu, omenka, HungerBAD, fulanimafia, QuotaSystem, Tokety7 aka Tokt on this thread

These people said GEJ left nothing in our foreign reserve, my people see as fowl yansh don open

Stop exposing your intellectual nåkédness. ECA is seperate from Foreign reserve.

Quakertellicus1:
Yesss.....and Nigeria needs oil to be at $123 per barrel to balance the books.

(The Russians need it at $99 and the Saudis need it at $70).

This is not to justify PMB....but to send him a message...that oil money is not a reliable source of income for the economy.

I kept druming a similar message when people were celebrating Aregbe for borrowing against oil price projections to build project that won't improve IGR any timd soon. Many states are in varying degree of mess Osun find themselves too but Osun's case is most pronounced of all.

Quakertellicus1:
Hmmm..from this article


For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty.[/b]



This is what is happening to Nigeria.

APC.....start walking the talk about diversification. You were not voted in to wait for oil to rise again.

APC was hoping to simply block leakages and fix 50% of the problem. The problem of our system is cascaded in nature and thus has a nasty chain effect that can best be arrested with local production of alternative forex earner. The bitter part is that there is no real capital with which to kickstart this investment and diversification drive as we are all privy to this fact even as far back as 2014.

Nothing strange.
Nigeria is like a man who had a well paying job but refused to invest until he was sacked. How will he discipline himself to invest in the shortest possible time and get results? PDP kept eating precious money that could have served us in times like these. Any investment and diversification not done under PDP shouldn't be expected now.

GreatEngineer:
But you are the one that started cursing your generation when I wasn't in support of this move on the other tread, you quoted me and cursed your generation.

Now you can feel how it is when you quote someone to start talking trash instead of simply stating your views on the topic.

I only talked about skipping breakfast and logic, I didn't wish you death on the other thread.

GreatEngineer:
@standing5, what can you say about about this? Maybe these people have not taken their breakfast for seven days or their thinking have K-leg also.

You will soon hang yourself for the sake of defending selfish politicians.

You should av allowed me give my opinion about the topic before cursing your generation. Please read my posts well to gets a glimpse of my stance regarding Buhari dictatorial tendencies.

What is this?

jamesibor:
Smh. You just be thinking you are engaging a primary school pupil

Primary school pupil.

Should I call them Wailer BBOG or Zombie BBOG?

TippyTop:
Meanwhile Buhari know about the corruption under this administration but is doing nothing as usual.
Dogara is still in HOR.
Saraki is still at the Senate.
Buratai is still enjoying his luxurious 2 houses in Dubai.
Danbazau nko?
Abeg I no fit talk ja re.

Can Buhari sack Saraki and co,?

jamesibor:
You seem to be living in Mars. This govt has been borrowing to pay salary since they came in.

http://www.vanguardngr.com/2016/06/fg-borrowing-pay-n165bn-civil-service-salaries-adeosun/

That's because a huge part of the budget was used to finance capital projects that can in turn trickle down to employement opportunities. Iweala was borrowing N473b as against the less than N200b you quoted.

Osyabj:
To rescue the economy after 16 years of PDP plundering of over 38 Trillion Naira, shamelessly shut down the refineries in order to import fuel, sabotaged the power sector in order to sell diesel and generators, thereby poluting Nigerians health, awarding contracts and sharing the money without doing the contracts, ...the list in endless.

Correct!

GreatEngineer:
Buhari can't work in a civilian rule. He need degree, so national assembly should give him power to do all those things mentioned up there before he can perform well.
Why did he contest election when he knows he can't work well in a democratic government.

Oya National assembly over to you, Please give Buhari power to do and undo anything without passing through you or due process, so that we will not die of hunger.

We still have a very long way to go.

Did you skip breakfast 7 days ago? Your reasoning has K-leg.
The President needs power because this is a democratic dispensation, you don't expect him to do a Dasuki to bail out the economy.

Right way to go.
We are already programmed to throw our money outside via import. To reverse it and start mass local production overnight will require capital like any new business venture. We should be greatful we have President who could stop borrowing to pay salary at $45pb- of oil and started saving for projects. This is a big leap from the days of borrowing to pay salary at $55pb+ of oil. Buhari has scored 200%+ already.

You already sponsor the obituary of the President so no need asking for anything.

I suggest the housing units are properly planned and executed. That pic up there looks redundant. There should be variation in design, routes for pipes, communication lines(fibre optic) and water, and then security.

Jokerman:
We the good people of Nigeria will like to know what the 32bn deducted will be used for... hope its not another conduit like AishaHaliburton dat will siphon it for her thief hubby....

Lol... Osun state should be bailed by Otedola or Tinubu .
Bayelsa by GEJ..

It goes to repay debt and not into the FG's purse.

giantstrides:
who cares if your kids attend grade A schools, does that in any way mean you Will make sense in your posts, are you the only rich man on nairaland, as wealthy as Donald Trump is, he is the most reckless politician right now, always making silly statements, yet i'm sure your grade A doesn't come close to his.

Are you minding that empty barrel? All he could comment on is the release of naira equivalent.

omaiyale:
E don tey wey this Woman get Moneyoo..
The background of the pix Says it all

I remember when she served under OBJ. She requested to be paid in dollars.

Amitex:
Who cares about your FTC obsession? Kemi's N400b/400 =$1B. Why the anger? How many of your capital projects are priced in Naira? For your information, I am not hungry neither do I beg to eat. I earn hard currencies, my children attend grade A schools in developed environment and feed and cloth many like you at home. So please be careful who you attempt to insult online because you can buy N200 data on your phone.

If you children truly attend grade A schools and it rubs off on them then they will be more qualified to comment than you.
Projects are priced in foreign currency because it is more stable over the period of the project. Adeosun doesn't need that because the money is ready to be released at once. Use your brain more dude and stop looking down on others. If you don't mind what do you do to earn hard currencies? I hope its a genuine business.

Amitex:
Kemi should just tell us they have released $1Billion instead of quoting big sums in Naira. Anyway, how has this impacted the lives of Nigerians?Where did this money go, hope not ministry of darkness and masquerades??

Do you think the govt plan to spend Dollar or Naira? I advice u to strive to be first to make sense and not first to comment on this forum. Instead of hating on Buhari's govt, go farm corn, we still 3 months of rain to go this year.

If it comes for free. But if you buy one, lick it and Police catch you, na jail you go sleep for constituting public nuisance.

malailayi:
If I ever have the opportunity of meeting Mr President, all i will ask him is "Sir, why did you want to become President?"

He became President to help stop borrowing to pay salaries at crude price of $50pb+. Don't you know debt has limit? By now it could have 20X worse than you are trying hard to paint it(the situation)

True talk. 120% to Buhari.