Happiness87:
when liar mohammed says stand, you stand, sit! you sit, e go better, you smilehahaha


do you remember tinubu telling his. media aides that they have alot of work to do.


listen here, nobody will invest money when there are no economic policies, before you were saying its because gej didn't submit handover notes on time,


better tell your boss that probes is not an alternative to governance

Like I said, this is typically expected whenever power changes hands. It is an inevitable teething problem.

Happiness87:
when liar mohammed says stand, you stand, sit! you sit, e go better, you smilehahaha


do you remember tinubu telling his. media aides that they have alot of work to do.


listen here, nobody will invest money when there are no economic policies, before you were saying its because gej didn't submit handover notes on time,


better tell your boss that probes is not an alternative to governance

you are on point....please marry me

chynergy1:
PMB is not an economist.

the trend will reverse when he finally secures
the saints that will man the ministries....by 2019

at the fullness of time his body odor will fix our economy

PassingShot:
China, USA and other major powers are experiencing this same issue.

This is partly what GEJ bestowed on us. It will get better by the passage of time.

You always foam in the mouth.

obailala:
Like I said, this is typically expected whenever power changes hands. It is an inevitable teething problem.

hahaha no more global phenomenon

PassingShot:
China, USA and other major powers are experiencing this same issue.

This is partly what GEJ bestowed on us. It will get better by the passage of time.

And that's what GEJ bestowed on China and USA too.zombie

B4 u comment crap and believe all this online Bullshit copied from sites whose news can't be verified,take time 2 make research. Just yesterday on NL,there was a thread: Falana said gej fought corruption with maturity,2day he has denied he ever made that statement. This was the same thing that happened on NL months about a statement made by Soyinka towards igbos only 2 find out it was false. 2.5 trillion keh? And Nigeria is alive? Rubbish!!!

Of course we know the reason.....oil price has fallen....and there is no money....investors are pulling out because they are sure they won't be paid.

Whatever Buhari does...he must appoint a minister of finance, and a minister of development....so that we can commence the joourney away from oil dependency....and become an industrial nation.

Or we vote him out in 2019. Oil dependency is not good for Nigeria

Please stop mixing up the two. China's stock market is falling due to slowing economic growth and impending asset Bubbles bursting.

Nigeria’s stock market has been falling due to falling government revenue from falling oil prices and lack of economic direction from the present government. Please stop using China to defend Nigeria.
While the Chinese issue may have some impact on the NSE, it will not be a massive move hence China is not the main reason for the fall in the Nigerian stock prices.

Keneking:
Great

Meanwhile in China, on August 24th, the Shanghai main share index lost another 8.49%. As a result, billions of pounds were lost on international stock markets with some international commentators labeling the day 2015 Black Monday.There were similar losses on Tuesday, leaving the market up 38% for the year as of August 27, 2015.(Wikipedia)

This is a global issue not Buhari-influenced action..nairametrics sef

PassingShot:
China, USA and other major powers are experiencing this same issue.

This is partly what GEJ bestowed on us. It will get better by the passage of time.

And it is going to continue.....because oil price is low.

That is why we must leave that oil alone.It is not good for development.

Buhari better start diversifying....fast.

I sincerely feel bad when issues that affects every Nigerian that are posted here are treated with un-intelligent, biased and tribalistic sentiments as comments or contributions. We are the long awaited generation that will take our country to the promised land. The journey to that land of milk and honey ought to start right here with all of us contributing our ideas positively to issues that bothers on unity, development, progress & peace of our fatherland. #stophate/tribalistic sentiments.

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Keneking:
Great

Meanwhile in China, on August 24th, the Shanghai main share index lost another 8.49%. As a result, billions of pounds were lost on international stock markets with some international commentators labeling the day 2015 Black Monday.There were similar losses on Tuesday, leaving the market up 38% for the year as of August 27, 2015.(Wikipedia)

This is a global issue not Buhari-influenced action..nairametrics sef

so china's economy and nigeria's economy are now mates? Dragon to tse tse fly, mtcheeeeew. China drops by billion so if nigeria drops no big deal. U need a scale in ut brain

bushdoc9919:


And it is going to continue.....because oil price is low.

That is why we must leave that oil alone.It is not good for development.

Buhari better start diversifying....fast.

Buhari's plan is to go back to the land. He has said it many times.

Let's see what September has in store.

Happiness87:
when liar mohammed says stand, you stand, sit! you sit, e go better, you smilehahaha


do you remember tinubu telling his. media aides that they have alot of work to do.


listen here, nobody will invest money when there are no economic policies, before you were saying its because gej didn't submit handover notes on time,


better tell your boss that probes is not an alternative to governance

All of you Nigerians....we are here because you want awoof governance. You want the govt to share money for you. You do not want to develop domestic industries, based on the local materials you have here. You want to share money....so that you will import.

Yes....the stock market crashed. It also crashed before....during PDP's time in office.

That tells me something.....we are doing something wrong. And that something is our reliance on oil....which PDP falied to deal with from OBJ to GEJ.

Yes....Buhari is probing...because right now...we need the dollars to prop up the naira so that we do not end up with N1000 to $1. And he should even extend the probe beyond GEJ even back to 1960....because right now...the oil money is not enough(it never was). But even with probe....even if we recover everything....it will only push the rainy day foward by a few years.

Which is why instead of playing politics....you Nigerians should demand better. We must invest heavily in education, infrastructure and innovation. Because.....right now, oil price is below $50, and it is not going up again. Better tell your governor to work hard. Better tell Abuja too to work hard.

bushdoc9919:


All of you Nigerians....we are here because you want awoof governance. You want the govt to share money for you. You do not want to develop domestic industries, based on the local materials you have here. You want to share money....so that you will import.

Yes....the stock market crashed. It also crashed before....during PDP's time in office.

That tells me something.....we are doing something wrong. And that something is our reliance on oil....which PDP falied to deal with from OBJ to GEJ.

Yes....Buhari is probing...because right now...we need the dollars to prop up the naira so that we do not end up with N1000 to $1. And he should even extend the probe beyond GEJ even back to 1960....because right now...the oil money is not enough(it never was). But even with probe....even if we recover everything....it will only push the rainy day foward by a few years.

Which is why instead of playing politics....you Nigerians should demand better. We must invest heavily in education, infrastructure and innovation. Because.....right now, oil price is below $50, and it is not going up again. Better tell your governor to work hard. Better tell Abuja too to work hard.

wailing continues

PassingShot:

Buhari's plan is to go back to the land. He has said it many times.

Let's see what September has in store.

I would like it if he said....We are starting an industrial development project, we are reviving Ajaokuta.

Because....one problem with Agriculture.....everybody does it. And if you want to make money from Agric, you have to have a surplus....and pray that there is drought in your neighbours country.

To be honest....we have been going back to the land since the 1970's. And nothing has happened. Besides....if we want to make money from the land....we have to really mechanise our farming.(Meaning that we have to go higher than the less than 10% of mechanised farmland we have.). We also have to use our agric as a source of raw materials for industry.

Happiness87:
wailing continues

If Nigeria must get on the road to permanent economic development, we must end our dependence on oil. Oil is a curse.

PassingShot:
China, USA and other major powers are experiencing this same issue.

This is partly what GEJ bestowed on us. It will get better by the passage of time.

Did GEJ also bestow China and America with this very same problem

SuperMaq:


You didn't disappoint Happines87. Wow!

Hehehehehehehehehehe .

You don't know PassingShot ... He's the number one zombie paid to defend Poohari_ online, When Happiness87 said he'll come and defend the Presidiot, She was right after all, He's as predictable as a pig within stone throw from a pile of faeces. Yuck!
Watch out for his next article. You heard it from severus first.

bushdoc9919:


If Nigeria must get on the road to permanent economic development, we must end our dependence on oil. Oil is a curse.

hahaha

oil is a curse in Nigeria, hahaha hahaha omg, i wonder why its not seen as curse elsewhere

Baba Buuh, you see your life. Pride is very bad. He seems to be very proud of his ability to restore everything under 3 months by his power and not by God. Let him thank God for the pressure group from pdp. His greatest weakness is ever listening to the applause of APC who is ready to tell him that all is ready when there is fire on the mt.

There is nothing wrong with the stock market. Everything has a season...time to make money and time to loose money.

Time to buy stocks and time to sell stocks.
You win some and loose some. Only the greedy ones don't want to loose...because when you loose some ..its another person's gain. Which is fair and nice.

bushdoc9919:


I would like it if he said....We are starting an industrial development project, we are reviving Ajaokuta.

Because....one problem with Agriculture.....everybody does it. And if you want to make money from Agric, you have to have a surplus....and pray that there is drought in your neighbours country.

To be honest....we have been going back to the land since the 1970's. And nothing has happened. Besides....if we want to make money from the land....we have to really mechanise our farming.(Meaning that we have to go higher than the less than 10% of mechanised farmland we have.). We also have to use our agric as a source of raw materials for industry.

Going back to the land should not be narrowed to farming.

Mining is also a major part of his program. I am eager to hear his blueprint on his plans too. September is upon us anyway.

All these Buhari supporters don't reason before dey talk "its happening everywhere even in America China etc" then if so why don't He start making economic policies now or appoint someone to do so before things get out of hand instead of leaving everything on auto pilot ...instead of chasing corrupt officers why not improve the economy cause when you keep chasing and leave governance on auto-pilot at the end Even loyal supporters would turn back on you specially when things don't turn out well -
PERSONAL OPINION

asha80:
actually there is a saying that it is when stocks plummet that wise investors buy stocks...that oando is 9 naira now should necessitate shrewd investors to buy

Buy what?

Oando shares that used to be the envy of all stakeholdings some years back is now on a continuous downward fall like transcorp shares?

Give me money to buy Oando shares for you for a try.

Happiness87:
hahaha

oil is a curse in Nigeria, hahaha hahaha omg, i wonder why its not seen as curse elsewhere

Well here is how it is a curse.

1) You use the oil money to import stuff you can make. Example...we import a lot of biscuits into this country. Meanwhile...we have a vibrant local biscuit industry. Guess what happens to the domestic industry? Jobs go....because of imports.

2) Your education system gets dumbed down. In industrial countries...the kids are trained to be innovators because....that is what industry requires.In Nigeria...we import everything. We really do not need industries. So....why bother about training kids to be innovative? Just train them to be good clerks.....so that the chemistry, biology and English grad will be competing with the Banking and Finance grad for bank job!

3.)When oil price goes down.....we STILL need money to import all them stuff. So what do we do? We go to the Temple IMF and petition the high priestess Christine for a big loan. Which we get with strict conditions. But we are so addictied to imports....we waste the money and keep on going back for more and more.....until we have a hefty debt, and zero savings.

4.When oil prices fall....the value of the currency falls...because we do not have dollars to keep the currency buffered .(See Venezuela...where they may run out of beer because the beer company cannot import barley and hops to make beer because the got won't give them dollars. And Nigeria with Emefile's List of 41 items barred from imports). So.....the CBN has to restrict forex spending because if they do not....the naira would fall in value to the point where N1000=$1.

If you have not gotten why oil is a curse now...I cannot help you.

Yes....Saudi, Norway and Emirates have lots of blessing from oil. They also have

1.Low populations....Saudi and Norge=11million . UAE=8million. (Nigeria 170million and growing. And we produce less oil than UAE by the way).

2.Diversified economies.....Norway.....heavily industrial....including being a center for the production of componets for the oil industry. (Nigeria....zero. Common oil rig we no fit manufacture).

And even Saudi and UAE are talking of diversification. And they are raising taxes, and removing fuel subsidy....even though they have cash saved....because the oil prices are staying low.

Assignment: Read....Pass the Books, Hold the Oil by Thomas Friedman. Also.....read about Dutch disease.

Nigeria must get off oil.

bushdoc9919:


Well here is how it is a curse.

1) You use the oil money to import stuff you can make. Example...we import a lot of biscuits into this country. Meanwhile...we have a vibrant local biscuit industry. Guess what happens to the domestic industry? Jobs go....because of imports.

2) Your education system gets dumbed down. In industrial countries...the kids are trained to be innovators because....that is what industry requires.In Nigeria...we import everything. We really do not need industries. So....why bother about training kids to be innovative? Just train them to be good clerks.....so that the chemistry, biology and English grad will be competing with the Banking and Finance grad for bank job!

3.)When oil price goes down.....we STILL need money to import all them stuff. So what do we do? We go to the Temple IMF and petition the high priestess Christine for a big loan. Which we get with strict conditions. But we are so addictied to imports....we waste the money and keep on going back for more and more.....until we have a hefty debt, and zero savings.

4.When oil prices fall....the value of the currency falls...because we do not have dollars to keep the currency buffered .(See Venezuela...where they may run out of beer because the beer company cannot import barley and hops to make beer because the got won't give them dollars. And Nigeria with Emefile's List of 41 items barred from imports). So.....the CBN has to restrict forex spending because if they do not....the naira would fall in value to the point where N1000=$1.

If you have not gotten why oil is a curse now...I cannot help you.

Yes....Saudi, Norway and Emirates have lots of blessing from oil. They also have

1.Low populations....Saudi and Norge=11million . UAE=8million. (Nigeria 170million and growing. And we produce less oil than UAE by the way).

2.Diversified economies.....Norway.....heavily industrial....including being a center for the production of componets for the oil industry. (Nigeria....zero. Common oil rig we no fit manufacture).

And even Saudi and UAE are talking of diversification. And they are raising taxes, and removing fuel subsidy....even though they have cash saved....because the oil prices are staying low.

Assignment: Read....Pass the Books, Hold the Oil by Thomas Friedman. Also.....read about Dutch disease.

Nigeria must get off oil.

lol, i get your gist, oil is no curse, look into your post and you will find that the real problem is poor leadership, corruption, tribalism and religious sentiments as long as this thrives , we are on a long thing

PassingShot:
China, USA and other major powers are experiencing this same issue.

This is partly what GEJ bestowed on us. It will get better by the passage of time.

[size=13pt]
But you didn't remember China, USA and other major powers when the market rallied in the first week of the dullard's election.

It would have been great if you had attributed that to international happenings then.

It was Buhari's 'magic' when the market rallied but international events when the market tanks.[/size]

No reasonable person can blame Buhari for the current problems in the Nigerian economy which are a direct result of the crash in the price of oil.

The ongoing oil price crash actually started last october. The oil price crash is only partly attributable to the slowdown in China. The main cause is the current price war the Saudis are wagging to try and put the US shale operations out of business. The Saudis see US shale as a major long term threat to them, so they took a strategic decision last year to flood the market with oil, to drive down the price to try and bankrupt those guys.

So far the tactic has not worked. The Shale operators using new technology are able to keep producing profitably at even these lower prices.
The majority consensus among oil analysts seems to be that the Saudis will double down on their strategy to try and drive priced down even further. Long terms prices forecasts from the Futures and Options markets do not indicate any significant oil price recovery before 2017.

Now as I said at the start no reasonable person can blame the impacts of this on Buhari. However I think it's reasonable to expect that Buhari would have known what was going on. Being a former minster of Energy, I would assume he follows trends in the energy market.

You would think that even during the campaign, he would have put a team together with a brief of 'If we win this election we will be in an environment of falling oil prices and consequently reduced revenue, I want you to draw up policy options that I can put into place once sworn in'. That's the kind of pro-active forward thinking leadership a President needs to display.

Whatever anyone says, I must tell you the delay in appointing CRITICAL minsters is having a very negative effect on the economy. Ministers devise policy, while civil servants implement policy. I see no reason why at least the minsters of Finance, Planning and Commerce are not yet in place. All ministers do not have to be appointed at once, but where a country is facing an impending economic crash to not have a Finance minister in place for over 3 months(and please note even if a finance minster is nominated today, due to the Senate timetable and Hajj activities that person may not be confirmed until October )is at best a sign of a govt that is moving a way too slow and at worse a sign of a govt that is completely out of touch with realities on the ground. Buhari needs to URGENTLY get his critical minsters nominated and confirmed so that they get to work on dealing with the very dire economic winds blowing our way.

Happiness87:
passingshot, dre11, and goke7 come and blindly defend your boss as usual


when liar mohammed says stand, you stand, sit! you sit, e go better, you smile

listen here, nobody will invest money where there are no economic policies,

before you were saying its because gej didn't submit handover notes on time, 3months has passed, yet nothing.

let the truth be known buhari have not seen corrupt free APC loyalist to appoint, he will only end up appointing still corrupt politicians


better tell your boss that probes is not an alternative to governance

bishop kukah Was right, no be probes we go chop
hahaha

#buhariphobia #APCpropaganda Dangote lost 140bn yesterday only as buhari's body language probes Stock market

O yes roll out the drums cos you are so happy with the news, how come the probe issue is your greatest headache. Yes I know that's what is troubling you.

No amount of blackmail will stop the probe, buhari is too experienced for that, all our stolen wealth which has led us to where we are now must be recovered, go tell all you know who stole Nigeria's money to better returned cos they will be exposed and heaven will not fall.

This is not the first time nigeria will be loosing so much money in the stock market and Nigeria did not collapse like you are wishing now. Buhari will perform and you know it like you admitted in another thread.

Sai baba, the terrorist nd pedophile


Nigerians re baboons nd dogs, Buhari