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Nairaland Forum / Nairaland / General / Politics / Interrogating APC's Senseless Propaganda (4532 Views)
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Re: Interrogating APC's Senseless Propaganda by Nobody: 9:04pm On Oct 29, 2014 |
kasiem:This is joke right? |
Re: Interrogating APC's Senseless Propaganda by kasiem(m): 9:06pm On Oct 29, 2014 |
Obiagelli:if u chose to define it that way, no one cares. I tried making u understand the fact that the word STABILISE is not static as it can be defined in so many ways |
Re: Interrogating APC's Senseless Propaganda by Nobody: 9:07pm On Oct 29, 2014 |
kasiem:Abeg go siddon, post the link and stop telling lies. |
Re: Interrogating APC's Senseless Propaganda by Nobody: 9:24pm On Oct 29, 2014 |
Obiagelli: You got it very wrong.. What the minister said was this, Nigeria needs minimum $5 billion in reserve to stabilize the economy in the event the oil price keeps falling. Out of the $5 billion, we have $4.1 billion in reserve already. However you must know that, the Excess Crude Account (ECA) was at $9 billion in 2013 but the governors lead by their chairman Amaechi demanded and insisted that the FG share the money to augment the shortfalls in the annual budget estimates. http://www.channelstv.com/2012/04/13/fg-blame-governors-for-depletion-of-excess-crude-account/ https://www.nairaland.com/1131217/nigerian-governors-demand-1-billion http://www.bloomberg.com/news/2012-12-12/nigerian-governors-demand-1-billion-from-excess-crude-account.html If anything, the blame should be on the Governors through the Governors forum led by Amaechi. They put the pressure on our economy not FG 11 Likes |
Re: Interrogating APC's Senseless Propaganda by omenka(m): 9:24pm On Oct 29, 2014 |
tobtap:This would suffice for now. |
Re: Interrogating APC's Senseless Propaganda by Nobody: 9:38pm On Oct 29, 2014 |
donphilopus: When you make comparison, please state on what bases you are comparing.. education, employment, health? By the way, how can a sane person compare Kano to Ebonyi or Lagos to Benue? What was their budget for the year? 5 Likes |
Re: Interrogating APC's Senseless Propaganda by Nobody: 9:46pm On Oct 29, 2014 |
datolee: You are joking right? Nigerian external reserve was at 58.3 billion dollars in 2008 when obj left. The governos demanded their share when they realise gej was busy depleting the reserves. Posting 1 billion here is ridiculous. http://news.yahoo.com/s/afp/20080314/wl_africa_afp/nigeriaeconomyreserves_080314124556 |
Re: Interrogating APC's Senseless Propaganda by Nobody: 9:46pm On Oct 29, 2014 |
tobtap: hmmmm.... I'm highly dissapointed.. Simple question you can not answer 3 Likes |
Re: Interrogating APC's Senseless Propaganda by major466(m): 9:46pm On Oct 29, 2014 |
APC have nothing to offer except lies and propaganda. 3 Likes |
Re: Interrogating APC's Senseless Propaganda by pentagonal: 9:50pm On Oct 29, 2014 |
ratiken: amadioha strike you dead there saTAN... why will IMF and world bank not give your foolish washed down economy thumbs up. when there witch stooge is there ruining the economy with her voodoo economic jargons. little wonder she gave an arm and a leg for the subsidy removal trash. while serious nation jeered at Christine Lagard for mere mention of the evil agenda. 2 Likes |
Re: Interrogating APC's Senseless Propaganda by major466(m): 9:55pm On Oct 29, 2014 |
datolee:Very correct. I saw the so call economic plan of the Agberos People's Community recently and I was like, thank God for Ngozi Okonjo Iweala. If APC were in charge of affairs in the country I tell you the truth Nigeria would have sloped down into serious economic crisis tailing with massive debt. By the time you factor recent drop in international oil prices, Nigeria's economy will sink into depression. APC have nothing to offer as far as sound economic policies are concerned. They're too socialist. 9 Likes |
Re: Interrogating APC's Senseless Propaganda by pentagonal: 9:56pm On Oct 29, 2014 |
major466: you are world class fvcktard can you please tell us the economic miracle of ngoshyte little wonder y'all fvckheads live in abject poverty. 1 Like |
Re: Interrogating APC's Senseless Propaganda by ratiken(m): 9:57pm On Oct 29, 2014 |
pentagonal: I guess you expect me to disregard IMF, World bank, Renowned economists and other verifiable sources and regard you? How much do you guys get paid for sounding dumb? With the confidence you lot display in ignorance..... playing dumb must be lucrative. 12 Likes 3 Shares |
Re: Interrogating APC's Senseless Propaganda by Nobody: 9:58pm On Oct 29, 2014 |
Obiagelli: Please External reserve and ECA are two different things. Maybe I will share with you Investopedia explanation of ECA A Nigerian government account used to save oil revenues above a base amount derived from a defined benchmark price. The Excess Crude Account was established in 2004, and its objective is primarily to protect planned budgets against shortfalls due to volatile crude oil prices. By delinking government expenditures from oil revenues, the Excess Crude Account aims to insulate the Nigerian economy from external shocks. What it means it is very simple, We make budget for the year base on benchmark of oil price, supposing the oil price fall below the benchmark as it is failing daily at the moment, how do we absorb the shock? That is where ECA comes in which is saving when oil was selling above the benchmark. 6 Likes |
Re: Interrogating APC's Senseless Propaganda by major466(m): 9:59pm On Oct 29, 2014 |
pentagonal:Who's this? 5 Likes |
Re: Interrogating APC's Senseless Propaganda by pentagonal: 10:02pm On Oct 29, 2014 |
ratiken: you are stupidity extraordinary!!!!! hello isn't it the same world bank and IMF that sold the sap and currency devaluation thingy to ibb and olu falae that ruin the Nigerian economy. Google is your friend search for henry boyo workable theories on the Nigerian economy and the reaction of Asian tigers on the IMF and world bank sermons on improving their economy. as a saTAN apostle I don't expect you to know this anyways. it seems the criteria for selection of y'all saTANoids is a suicidal level of stupidity and ignorance. 1 Like |
Re: Interrogating APC's Senseless Propaganda by pentagonal: 10:03pm On Oct 29, 2014 |
major466: the nemesis of the saTANoids. slaying em numbskulls for pastime since the mid ages. |
Re: Interrogating APC's Senseless Propaganda by Nobody: 10:05pm On Oct 29, 2014 |
major466: We must be thankful that we have people like NOI otherwise people like Amaechi and his fellow governors would have ran this country to a halt long time ago. The issue of ECA was started under OBJ by NOI... and you know what?? Amaechi and his follow governors said it was wrong to save money and was even prepared to go to court http://www.vanguardngr.com/2012/04/excess-crude-account-swf-s-south-govs-challenge-fg/ NB: Isn't ironic that he, Amaechi was saving 1 billion naira monthly from River state revenue yes was against the FG doing the same through ECA 5 Likes |
Re: Interrogating APC's Senseless Propaganda by Nobody: 10:07pm On Oct 29, 2014 |
datolee:And what exactly is the external reserve meant for? Btw ECA was $22 billion in 2008 |
Re: Interrogating APC's Senseless Propaganda by ratiken(m): 10:12pm On Oct 29, 2014 |
pentagonal: So Henry Boyo and the Asian Tigers are more believable and verifiable than IMF and World bank indices? Now listen, When next you want to prove a point on a forum.... keep your sentiments about the globally acknowledged bodies such as IMF and Worldbank aside until you find similar acknowledged outfits to counter them. Imagine countering IMF data with Boyo postulations in a PHD thesis..... Untested postulations for that matter. Now with a politeness ... I'll say shut up. 9 Likes |
Re: Interrogating APC's Senseless Propaganda by Nobody: 10:14pm On Oct 29, 2014 |
major466:Look at this clowm, what economic plans of the APC did you see? Post just 2 points from it or you just an empty liar |
Re: Interrogating APC's Senseless Propaganda by pentagonal: 10:17pm On Oct 29, 2014 |
ratiken: you are fvcking rabid dog with carbon monoxide for brains. who the fvck is the imf mere western imperialist that wanna cripple the economies of developing nations. pray,tell us why the brics nation or the bank of China were created or don't wanna be yoke in the same yarn as the western voodoo idiot.... you are definitely suffering from selective amnesia. please tell us why the IMF and world bank SAP destroyed the Nigerian economy Mr I too know. your IQ is at par as the Zimbabwean dollar in purchase power parity index. |
Re: Interrogating APC's Senseless Propaganda by Nobody: 10:21pm On Oct 29, 2014 |
ratiken:Which Imf report are you harping about? Our economy has been growing at an average of 7% since 2001, inflation is ridiculous, same for interest rates, naira is crumbling and don't even get me started on unemployment. So Wtf are you talking about? www.vanguardngr.com/2014/03/imf-predicts-7-3-economic-growth-lower-inflation-nigeria/ |
Re: Interrogating APC's Senseless Propaganda by ratiken(m): 10:29pm On Oct 29, 2014 |
Obiagelli: Oga abi madam, below is an extract from your link 'By YINKA KOLAWOLE, with agency reportTheĀ International Monetary Fund, IMF, has predicted a 7.3 percent economic growth for Nigeria in 2014, up from 6.4 percent in 2013, with inflation to continue on downward trend.' So what are you on about? 6 Likes |
Re: Interrogating APC's Senseless Propaganda by Nobody: 10:30pm On Oct 29, 2014 |
Obiagelli: Inasmuch as I wouldn't want to derail this thread, I will explain to you the difference between external reserve and ECA External reserve: Those external assets that are readily available to and controlled by monetary authorities for direct financing of payments imbalances, for indirectly regulating the magnitudes of imbalances through intervention in exchange markets to affect the currency exchange rate, and/or for other purposes Why do countries hold external reserve: 1. To fulfill the monetary and exchange rate policies 2. To store of nationās wealth 3. To give credibility to foreign investors 4. To back the banknotes in use What causes depletion of external reserve: When the market expects devaluation, downward pressure placed on the currency can really only be offset by an increase in the interest rate. In order to increase the rate, the central bank has to shrink the money supply, which in turn increases demand for the currency. The bank can do this by selling off foreign reserves to create a capital outflow. When the bank sells a portion of its foreign reserves, it receives payment in the form of the domestic currency, which it holds out of circulation as an asset. What this means is that, we have to sell off some foreign reserve in other maintain the exchange rate of Naira to dollars, otherwise, it would have been more than what it is now. The difference is this, while foreign reserve is used to preserve the exchange rate, prevent currency crisis, inflation and interest rate, ECA is used to argument shortfall in expected revenue for executing of the year budget. A very clear example is Amaechi just recently taken out 19 billion naira from his savings to complete projects in River state (as he claimed) due to shortage of revenue from the FG. I'm not an economist, I hope we can move on from here 5 Likes |
Re: Interrogating APC's Senseless Propaganda by Nobody: 10:34pm On Oct 29, 2014 |
APC of course do not have anything to offer, have you heard from any of their presidential hopeful on how they intend to fix Nigeria? None!...all they do in their declaration is GEJ this, GEJ that, PDP this! and PDP that!! Their plan to fix Nigeria nko!...becomes story for the gods! 6 Likes |
Re: Interrogating APC's Senseless Propaganda by major466(m): 10:38pm On Oct 29, 2014 |
datolee:The same Ameachi, through his NGF faction called for the sacking of NOI on several occasions. And yet he has the audacity to talk about economic development. If you're looking for the definition of dumbness and Hypocrisy, just look at Rotimi Ameachi. 8 Likes |
Re: Interrogating APC's Senseless Propaganda by Nobody: 10:47pm On Oct 29, 2014 |
Obiagelli: At least I have seen a nippet of the economic plan posted by your humble self and what did it include? you guess it, paying a whooping sum of 1.5 trillion Naira per year to 25 million elderly people in Nigeria. If this is one of your economic plans, I pray God APC don't get to aso rock for we would become a broke-a$s country in just matter of months. I think it should you APC member who should be pushing your plans to the electorates.. but what do we have, GEJ this, GEJ that. Please... what are your plans for Nigeria?? 5 Likes |
Re: Interrogating APC's Senseless Propaganda by Udehpaschal1(m): 11:00pm On Oct 29, 2014 |
biafranqueen:. Hey, take it easy. Am just inviting them to do justice to the matter on ground. 1 Like |
Re: Interrogating APC's Senseless Propaganda by Udehpaschal1(m): 11:02pm On Oct 29, 2014 |
2cato: thank you! |
Re: Interrogating APC's Senseless Propaganda by Udehpaschal1(m): 11:04pm On Oct 29, 2014 |
gramci: they are the ones witch hunting our Honourable presido on Nairaland 1 Like |
Re: Interrogating APC's Senseless Propaganda by Nobody: 11:08pm On Oct 29, 2014 |
biafranqueen: this is the most silliest question i have seen this year. for God sake is the FG not for all nigerians or is it for a particular political party? i dont get this foolish question of yours. |
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