ogododo:

U be oluomo pikin? Bubu time na de worst, not sector dey breathe again.

This is not the first time we have been through this and this won't be the last

That's why I suggest you read about dutch disease and resource dependency. You will see why our economy has had issues. And why we are going through what we go through

Once you read , you will understand why Nigeria and many African countries are broke.

And why Buhari is a bad leader

Good evening and God bless

nedekid:
don't let anybody deceive you using oil price as excuse.
How much was the highest oil price during Obasanjo time? How much was the oil price that he paid off our debt? Buhari will spew lies that "for 16 years oil was over $120", as if we are alamajeris or his cows without sense.
Anyway, long short of it all, is that buhari complained of low oil price due to world economic recession and covid for fall of the naira. Ok, for the past year, oil has rebounded to averagely $70 and now $80 per barrel, why has naira not appreciated?
I put it to you that if oil price rises to $1000, per barrel they will still give excuses why naira should be 2k per dollar, sighting all excuses eg, we don't produce, we import, fuel subsidy and all crap.
"A farmer that does not know farming blames his tools"

Una dey mind all de backbencher wey be Dundee. If oil be above $100, how much we dey buy am den. Now wey oil no reach $72 petrol don go beyond common men.

Redman44:
Knowledge is Power. Use local alternative milk sources. Get dried cocoa beans and make your own 'my Vita chocolate drink ' . Plant based Milk can be gotten from Cowpea etc.

Those ones are not cheap anymore.

I've said it before. Buhari is a disaster of epic proportion. The country is on auto-pilot. He's always been a despicable tyrant. I weep.

nenyewrites:


Why do you guys like ending with something urgent has to be done when deep in your heart you know nothing can be done.

Not neccessarily! we as a country were once not here , same way we got here, there is also a way out - something can be done, whether through the ballots(in the form of elections) or the streets(protests and demonstrations), it may be may not be a smooth ride, yet history has shown it's possible and achievable . For proof look no further than last year's endsars protest that brought reforms to the NPF, also the transformation of Kano is a result of voting in a relatively competent governor, former governor, kwankwaso, whose infrastural projects greatly rejuvenated the state. You get my drills? The bottom line is, power belong to the people, infact, they are the power itself, when commited to a goal as a unified force there is no limit to what could be achived.

ogododo:
Una dey mind all de backbencher wey be Dundee. If oil be above $100, how much we dey buy am den. Now wey oil no reach $72 petrol don go beyond common men.

It is because we are dependent on oil and because our leaders don't take us from oil dependency that we are where we are

Buhari is a bad leader and he is responsible for this mess. Where we disagree is how.

Dutch disease. Does not excuse buhai because he was warned about it and because he met the same issue in 1984 and did nothing but wait for oil

And oil has been as low as 20 dollars twice and below 60 dollars for a long time. We have been below the fiscal breakeven price .

That is why we have to get off oil and become industrial . Simple.

APC + BUHARI= CURSE( A PUNISHMENT FOR OUR SINS)

I'm lactose intolerant so milk isn't really my thing. For my kids I was using Nido medium size until the price rose to N6000 and I cant find the small tin here, switched to Marvel and its now N3200 for small one. Tried 3crowns kids' tummys were just running up and down, its N1000 for 900g satchet. I put a hold on milk for now. Milk for them will be from salary to salary. Just tired of the whole thing.

Na akamu and soya milk we dey wack now, no more tea.

Buhari effects 2.0

ajericho:



Prosperity won't come your way

You're sick

Limassol:
Not neccessarily! we as a country were once not here , same way we got here, there is also a way out - something can be done, whether through the ballots(in the form of elections) or the streets(protests and demonstrations), it may be may not be a smooth ride, yet history has shown it's possible and achievable . For proof look no further than last year's endsars protest that brought reforms to the NPF, also the transformation of Kano is a result of voting in a relatively competent governor, former governor, kwankwaso, whose infrastural projects greatly rejuvenated the state. You get my drills? The bottom line is, power belong to the people, infact, they are the power itself, when commited to a goal as a unified force there is no limit to what could be achived.

I think people should be allowed to kick these leaders out anytime they feel they are not doing what they want,4yrs is too long

jericco1:


You're sick

Again, blessings won't come your way



Defend this government and get those replies bullock

ajericho:


Oponu

Have a good rest of the day.God bless

DUTCH DISEASE

backbencher:


It is because we are dependent on oil and because our leaders don't take us from oil dependency that we are where we are

Buhari is a bad leader and he is responsible for this mess. Where we disagree is how.

Dutch disease. Does not excuse buhai because he was warned about it and because he met the same issue in 1984 and did nothing but wait for oil

And oil has been as low as 20 dollars twice and below 60 dollars for a long time. We have been below the fiscal breakeven price .

That is why we have to get off oil and become industrial . Simple.

whenever Buhari is asking about how the country can g go forward, he would say people should farm,

That dullard has wasted our precious 8yrs

guobe:
I don't really know where this country is heading to,just yesterday I bought a tin of peak milk and milo for 4700 naira, small can for that matter. I can't figure out how the less privileged are surviving in this country. God help us.

I do not mean harm but trust me you have been made a less privileged citizen by this regime. There is nothing you need to figure out again than how you are feeling right now.
Thank God you did not say God help them.
Did you hear Obi Cubana complain? Not even some people that bought the same milk and chocolate worth N18,500 this yesterday did.

Double your hustle so that no matter how bad the economy is, you will not know.

backbencher:


Have a good rest of the day.God bless

DUTCH DISEASE

Na that disease go kill u

People still dey buy tin? Na refill I dey buy tey tey. 1kg Milo refill 2,500, 850g Dano milk refill 3,200. I no dey like calculate the total make my head no burst

Luckydubby7:

It cheap for your side.
Is 750 here in my area.

Hahahaha you be clown walai

18wheeler:
I'm lactose intolerant so milk isn't really my thing. For my kids I was using Nido medium size until the price rose to N6000 and I cant find the small tin here, switched to Marvel and its now N3200 for small one. Tried 3crowns kids' tummys were just running up and down, its N1000 for 900g satchet. I put a hold on milk for now. Milk for them will be from salary to salary. Just tired of the whole thing.

Have you tried peak or Dano full cream milk, they're also rich and creamy. I've tried the Nido once and it wasn't all that to me, had to switch back to my Dano full cream milk.

nedekid:
don't let anybody deceive you using oil price as excuse.

Not decepition, just something I woke up to in 2011. Thanks to Thomas Friedman (and his article Pass the books , hold the oil).

I had been struggling with the idea about why we were poor despite being rich. Friedman provided the answers.

How much was the highest oil price during Obasanjo time? How much was the oil price that he paid off our debt? Buhari will spew lies that "for 16 years oil was over $120", as if we are alamajeris or his cows without sense

The Bubu cows usually say that about the GEJ era. Obasanjo had oil prices between $19-70 per barrel. Of course our forex needs were less than that of GEJ or Buhari then (most people didn't have cellphones, laptops, etc etc.)

Obasanjo also paid off our debt...after 67% of it was written off (other African countries like Niger got 100% write off). We used our forex resrves to pay off the rest. That's why Yaradua was a big time saver of money.

.

Anyway, long short of it all, is that buhari complained of low oil price due to world economic recession and covid for fall of the naira. Ok, for the past year, oil has rebounded to averagely $70 and now $80 per barrel, why has naira not appreciated?

Very easy, as explained in this article

Where crude oil (and gas) is the booming export sector, the non-oil export sector may be crowded out by the oil sector and the non-tradable goods sector of the economy. This can happen when the oil revenue windfall increases domestic demand for non-tradable goods and pushes up domestic prices leading to an appreciation of the real exchange rate which in turn reduces the competitiveness of the non-oil export sector. This will in turn lead to a reduction in non-oil exports in both quantum and value terms. The oil windfall may also lead to movement of the factors of production in the economy. For instance, capital and labor (and land) may shift from the non-oil export sector to the oil sector (in order to maintain or increase reserves and production) and the non-tradable goods sector (to take advantage of the growing domestic demand). This explains why the increase in oil prices and the subsequent oil revenue windfall in many oil-exporting countries have tended to depress their non-oil export sector while at the same time generating a boom in both the oil and the non-tradable goods sectors. With capital and labor shifting from the non-oil export sector to the oil-sector and non-traded goods sector, firms in the non-oil export sector are forced to either close down or reduce their scale of operation. The boom in the oil and non-traded goods sector increases the demand for imported goods. This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. 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.

From Managing the Dutch disease in Nigeria (2004)

Nigeria 1973-82 and 2004-14 (high prices of oil) and 1982-2003 and 2014 to date...low oil prices.

Same thing happened in Zambia (2006-12 high copper, high life, 2012-low price of copper, low life style)

I put it to you that if oil price rises to $1000, per barrel they will still give excuses why naira should be 2k per dollar, sighting all excuses eg, we don't produce, we import, fuel subsidy and all crap.
"A farmer that does not know farming blames his tools"

[/quote]

Exactly. Nigerian leaders , past and present , have no idea about how to get us off oil. Because it is far easier to spend oil money than to use oil money to become more productive.

We won't use our one talent to make ten talents.APC in particular.

ajericho:


Na that disease go kill u

May the Lord keep you and bless you

ajericho:


I think people should be allowed to kick these leaders out anytime they feel they are not doing what they want,4yrs is too long

People were never banned in the first place,the Constitution enshrined on Nigerians those rights and priviledges, but suprisingly, we barely utilise it. In truth, most Nigerians have little political englightment, as such are at the mercy of crooks disguising as leaders.

jericco1:


You're a fool

You don't have to abuse him. This is a site. In ten years, no one would recall this conversation. So, no abuse .

ajericho:
whenever Buhari is asking about how the country can g go forward, he would say people should farm,

That dullard has wasted our precious 8yrs

Because APC has no idea on how to get us off oil dependency...or they have an idea, but it involves them making decisions that aren't popular.

ogododo:
Una dey mind all de backbencher wey be Dundee. .

Good evening. God bless and have a good day.

Read my response to the guy you quoted

Let's be mature here, I did not abuse you, and I was having a discussion, not an abuse match.If I were to respond with abuse on your person, you won't like it. So, don't expect others to.

backbencher:


You don't have to abuse him. This is a site. In ten years, no one would recall this conversation. So, no abuse .

He abused me, so I'm returning the favour. I'm not gonna fold my arms and watch! Never

Senomi:

Jesus christ! So how much then will those giant tins be? 20k maybe? Omo

Giant peak milk is 14k as of last week in my side

backbencher:


May the Lord keep you and bless you

And God will not help you

ajericho:


And God will not help you

But He will help and bless you immeasurably.

Ogun kill Buhari for this.

Ogun kill Lagos state government for this.

Ogun kill all criminal Nigerian politicians for this.

Ogun kill all those bastard manufacturers, middlemen and retailers who intentionally inflate prices and reduce quantities in this country for this.

Ogun kill all of una together!


Criminal bastards!