It's no more news that the velocity at which our naira is de accelerating in value against the dollar is so alarming. In fact, if care is not taken, we may go the Zimbabwe way. But the God of Pastor Oyedepo, Kumuye, Adeboye and Lazarus Mauka will not allow that happen.
Anyway, have any of you taken time to calculate the depreciation value of the naira BTW 1999 to 2015 and 2015 till date?
A facebook friend just did that, and I thought it wise to share it with this honorable forum.

a

MikeMoses:
It's no more news that the velocity at which our naira is de accelerating in value against the dollar is so alarming. In fact, if care is not taken, we may go the Zimbabwe way. But the God of Pastor Oyedepo, Kumuye, Adeboye and Lazarus Mauka will not allow that happen.
Anyway, have any of you taken time to calculate the depreciation value of the naira BTW 1999 to 2015 and 2015 till date?
A facebook friend just did that, and I thought it wise to share it with this honorable forum.

you should learn to stop blaming buhari. PDP met N22 to $1. Pdp and Apc member frm Pdp are to be blamed nt buhari for failing to save. and official price of dollar is still N197.
read this link:
http://www.thisdaylive.com/articles/a-not-so-brief-history-of-the-fall-and-fall-of-the-nigerian-naira/227333/

Things are getting out of hand.

Elosky20:
a
you should learn to stop blaming buhari. PDP met N22 to $1. Pdp and Apc member frm Pdp are to be blamed nt buhari for failing to save. and official price of dollar is still N197.
read this link:
http://www.thisdaylive.com/articles/a-not-so-brief-history-of-the-fall-and-fall-of-the-nigerian-naira/227333/

So now you mean Buhari did not know about the impending challenge before he promise to make the naira equal to the dollar right? my friend you don't have any valid point!

MikeMoses:


So now you mean Buhari did not know about the impending challenge before he promise to make the naira equal to the dollar right? my friend you don't have any valid point!

Politicians and exaggeration cannot be seperated.
the country is nt making one naira frm oil sells so far. that has led to shortage of dollars due to increase in demand. and those promises can be achieved if the oil price improve. atleast he has tried to maintain the oil price at N197. Check what is happening in saudi arabia and venezuela they are worse than nigeria upon their high foreign reserve.
Can u counter my point pls, am here to learn too

Elosky20:

Politicians and exaggeration cannot be seperated.
the country is nt making one naira frm oil sells so far. that has led to shortage of dollars due to increase in demand. and those promises can be achieved if the oil price improve. atleast he has tried to maintain the oil price at N197. Check what is happening in saudi arabia and venezuela they are worse than nigeria upon their high foreign reserve.
Can u counter my point pls, am here to learn too

Thank God you just agreed that Buhari lied (exaggerate) about his abilities to change Nigeria for good. How then do you want us to take him serious now? As for those countries you just mention, they are putting serious measures to stable their economy, but our "Chanji" President is just wakawakaring about. Tell me one one benefit his numerous itinerary has brought to us.

MikeMoses:


Thank God you just agreed that Buhari lied (exaggerate) about his abilities to change Nigeria for good. How then do you want us to take him serious now? As for those countries you just mention, they are putting serious measures to stable their economy, but our "Chanji" President is just wakawakaring about. Tell me one one benefit his numerous itinerary has brought to us.

remember exaggeration is nt lies bt over estimation or under estimation. he is only trying to see if they can return back the stolen funds abroad, and use it for our budget rather than borrowing. which led us to where we are nw,
Achieving this goals in a democratic govt will nt be easy.
remember jonathan sold oil for $110 per barrel, bt buhari is selling at $35. which is the production cost.
.

Elosky20:

remember exaggeration is nt lies bt over estimation or under estimation. he is only trying to see if they can return back the stolen funds abroad, and use it for our budget rather than borrowing. which led us to where we are nw,
Achieving this goals in a democratic govt will nt be easy.
remember jonathan sold oil for $110 per barrel, bt buhari is selling at $35. which is the production cost.
.

The English dictionary defines exaggeration as "the act of doing or representing in an excessive manner, a going beyond the bounds of TRUTH, reason..." so that settle the fact that Buhari integrity has been compromised. Which stolen money are you talking about here? is it the one Buhari denied that Abacha loot or is it the one they almost stole in the name of "budget of change" my brother, don't let political affiliation blind you to the extent that you don't see any thing bad in how this current chanji government is destroying our collective interest. I bet you, even with a barrel of crude been sold at $5/barrel, if we have a good and economically knowledgeable leader, that won't effect us. But my problem with Buhari is that he seem to be so clueless about how to move our country forward. He is just busy wakawakaring about!

MikeMoses:


The English dictionary defines exaggeration as "the act of doing or representing in an excessive manner, a going beyond the bounds of TRUTH, reason..." so that settle the fact that Buhari integrity has been compromised. Which stolen money are you talking about here? is it the one Buhari denied that Abacha loot or is it the one they almost stole in the name of "budget of change" my brother, don't let political affiliation blind you to the extent that you don't see any thing bad in how this current chanji government is destroying our collective interest. I bet you, even with a barrel of crude been sold at $5/barrel, if we have a good and economically knowledgeable leader, that won't effect us. But my problem with Buhari is that he seem to be so clueless about how to move our country forward. He is just busy wakawakaring about!

so who is that knowledgeable leader that can help the country when crude oil is at $5 per barrel. can u name the person?
how will he do it? or are u also over exagerrating.

Elosky20:

so who is that knowledgeable leader that can help the country when crude oil is at $5 per barrel. can u name the person?
how will he do it? or are u also over exagerrating.

The simple answer to our challenge is for us to practise true federalism and to start looking inward! instead of our president to be moving all around to world with nothing to show for his various trips, he should stay back and see how to fix our economy. How many times have you seen the Saudis, Iranian or Russian leaders traveling since the oil price start declining? For God sake! We have a minister of foreign affairs and he should be doing what Buhari is doing unless Buhari is trying to prove those saying he is exhibiting the Fulani blood in him right!

MikeMoses:


The simple answer to our problem is for us to practise true federalism and to start looking inward! instead of our president to be moving all around to world with nothing to show for is various trips, he should stay back and see how to fix our economy. How many times have you seen the Saudis, Iranian or Russian leaders traveling since the oil price start declining? For God sake! We have a minister of foreign affairs and he should be doing what Buhari is doing unless Buhari is trying to prove those saying he is exhibiting the Fulani blood in him right!

good, bt u did nt answer my question. who is that good leader that will better our economy with oil at $5 per barrel?

Elosky20:

good, bt u did nt answer my question. who is that good leader that will better our economy with oil at $5 per barrel?

Oh! you think there is no body among the 170 million Nigerians that can think outside the box of oil money revenue?
My dear, if yours sincerely is giving the opportunity, I bet you, in a short distance time, I will achieve that.
Check out how is will do it.
1. Agriculture! Agriculture!! Agriculture!!!
I will revolutionise the agricultural sector. An Israeli once said that "if they have just half of our landmass, the will feed the world" Do you know that a barrel of palm oil is more expensive than crude oil in the international market? and we have the ability to become the highest producer of palm oil in the world.
2. Construct highways that will link every local government area to the major cities of the country. I will make sure railway line is linking every state capital in the country.
3. Build more seaport in the country.
4. Cut down on the cost of government.
5. Make policies that will encourage industrialization of the country.
6. Invest in the educational and medical sectors and not in the propagandas sector like Buhari and his apc co-host are doing right now.
7. Improve the power sector.
8. De centralized the power from abuja and make the country a true FEDERAL REPUBLIC OF NIGERIA.
If not for the kind of country we are, someone like Buhari should be in daura feeding his cows and not ruling Nigerians.

MikeMoses:


Oh! you think there is no body among the 170 million Nigerians that can think outside the box of oil money revenue?
My dear, if yours sincerely is giving the opportunity, I bet you, in a short distance time, I will achieve that.
Check out how is will do it.
1. Agriculture! Agriculture!! Agriculture!!!
I will revolutionise the agricultural sector. An Israeli once said that "if they have just half of our landmass, the will feed the world"
2. Construct highways that will link every local government area to the major cities of the country. I will make sure railway line is linking every state capital in the country.
3. Build more seaport in the country.
4. Cut down on the cost of government.
5. Make policies that will encourage industrialization of the country.
6. Invest in the educational and medical sectors and not in the propagandas sector like Buhari and his apc co-host are doing right now.
7. Improve the power sector.
8. De centralized the power from abuja and make the country a true FEDERAL REPUBLIC OF NIGERIA.
If not for the kind of country we are, someone like Buhari should be in daura feeding his cows and not ruling Nigerians.

but how will you achieve all dis when ur main source of income is down. this something that we would have done when the country have excess money 2008 to 2013.
The problem with governance is that the view frm outside is easier than inside. certain policies could nt be implemented by our former presidents because of dispute with the NATIONAL ASSEMBLY.
All the reform programs u listed can only be achieved in the military regime, where power is centralised on the head of state.

That says it all.

And you know whats funny, Obasanjo came in 1999 with oil prices at barely $25 and remained so for almost 4 years maxing out at about $35.

Despite all that, the Dollar's stability was retained. Obj didn't blame Abacha grand theft nor the years of military decadence, rather he assembled an excellent economic team and went to work instantly.

In 2009, oil peaked at $144, then in less than 3 months it tanked to $45. Then our production dipped to barely 700,000 barrels per day at a time due to shut ins from militant activities. The Yar Adua/Jonathan government didn't play the blame game, instead they designed a quick strategy in the amnesty program that saw our production rise up drastically and things got back to normal.

We have a terrible government. The worse part is that they have yet to craft any strategy solution to the massive economic crisis looking the nation in the face.

Maybe they don't understand that we are probably heading to zimbabwe with the way the economy is going. At this rate, the capacity to import fuel would become pretty hard and fuel scarcity might become so excruciating that a litre could trade for as high as 500 Naira. I hope we don't ever get to see a nigeria where bread would start disappearing from stands because of no forex to import wheat.

We need a solutrion now. And if Buhari cannot provide one, he should be impeached and lets allow Osibanjo to try his hands on something.