What about the savings when oil sold for USD130?

FG, please educate us on the whereabout!

I'm really happy about this recent development. As a matter of fact I was getting scared that this would never happen in my lifetime. Just wait till a mainstream alternative to fuel is created, our oil prices will
not just drop, it will come crashing down. Who knows what becomes of our economy then?

Maybe we would finally have no choice than to diversify our economy. No choice at all. And that is the good news. #okbye

Pound nko?

In Otueke where I school, the price of shoe has not changed. GEJ till oyel finish

Na so so bad news 4 this naija we country....when shall we start having doses of good news

Damnn

NIGERIA FAILED TO PLAN

omenka:
These are at best fabrication of the APC. Only NOI polls can tell us the true state of affairs. The opposition are just trying to smear the image of the president knowing that the economy has never fared better in the history of this nation!!

I trust you are being sarcastic.
Anyone who believes this is an APC thing needs to be impaled via their Instruments.

That goes for those who support this barbaric government that cannot get anything right. Including the roaches and turds and bottom-feeding larva that are the PDP Internet defence team.

Tough times don't last...

It's a tough time for GEJ and his administration but I am positive we will get over this..

No cause for alarm.

GEJ till 2019.

This is TRANSFORMATION agenda in Nigeria economy.

Does that's mean Garai will increase price in the market

Apparently Tunde Bakare was correct about Jonathan's mission.

We were too biased to listen.


This so called Minister of Finance who looks like a sex-starved hag has not co-ordinated anything. Just wearing those silly goggles to look intelligent.
to make matters worse she reports to a drunken fisherman who has no clue about anything except kaikai and ogogoro.

omenka:
These are at best fabrication of the APC. Only NOI polls can tell us the true state of affairs. The opposition are just trying to smear the image of the president knowing that the economy has never fared better in the history of this nation!!

Of course APC cannot be absolved of this blame. And NOI is the last person to blame. The woman had long before now been asking for saving for the rainy day but the govs, especially APC govs, were against savings. They prefer to spend everything. Thats why they are mostly indebted today.They are even in the Supreme court as we speak over the Sovereign Wealth Fund(SWF) which NOI proposed as a way of saving for the rainy day but rejected by them. They wanted all incomes to be shared and spent immediately. I remember Tinubu and Atiku calling NOI a voodoo economist over this. Now her predictions have come true. Almost all the states have no savings except the federal government. So, dont even think APC is free of this. They are the biggest culprits.
http://nationalmirroronline.net/new/foreign-reserves-accumulation-voodoo-economics-tinubu/
www.nairaland.com/1218713/tinubu-fg-practising-voodoo-economic/1
www.nairaland.com/558012/jonathan-operating-voodoo-economics-alleges

Nihilist:
Now this news will definitely affect the price of Garri in the market.

The Igwe must hear this

www.nairaland.com/attachments/1594746_10352274_1533952146825886_2576240504666359700_n_jpeg_jpeg95a1a7273e673390a6667176793978d7

What a befitting moniker you have. I'm not jealous...

God Help Nigerians

chaaiiiiii dis people don finish Nigeria ooooooo




how i wan buy my goods from overs nw

Even d dollars is falling itself

torhuke:
Tough times don't last...

It's a tough time for GEJ and his administration but I am positive we will get over this..

No cause for alarm.

GEJ till 2019.

Sorry its not enough to s a y no cause for alarm.
Your so called administration has blown away reserves that would have cushioned the blow from any economic shock such as this.
There remains no attempt at diversifying our economy away from oil.

So tell us what the way forward is.

PassingShot:
What baffles me is that Nigeria is not even the only country which relies solely on oil to run her business. Most of the Gulf countries rely absolutely on their earnings from oil to run their economies yet hell is not let loose whenever there is a drop in oil price. Just take a look at UAE, Saudi Arabia, Qatar and many others depending on oil to survive. They have not devalued their currency while they continue running their affairs as if nothing has happened.

The real difference between us and those countries lies in the fact that they have very robust reserves running into trillion of dollars to call upon to cushion effects of such drop in oil price. They have long known that the oil price could come crashing and they have prepared for days like these. But we on the other hand have been wasteful and senseless in handling our own earnings from that same oil.

What this nation has earned in oyel in the last two decades may even surpass what UAE and Qatar have earned in the same period. But take a look at their countries and see how far they've developed them compared to us.

May God punish all past and present leaders who have taken it as a duty to pauperize the Nigerian common man.

Amen

adebayoadeyiga:
euro nko
edit: still 222.22.
thank God o...make e no pass like that oo
I need to jand next year o

227.5

The official rate as at today 1st of Dec. 2014 is N185.7027/USD. It's high time we diversify our economy and break the genes of over dependent on oil.

i was shocked too ooo....bougth something online on friday and i was charged higher than i anticipated...wen i converted to naira, found out i was charged at 183.26 to a $1..d tin pain me no be small

This would not have happened under Sanusi. The president politicised everything including security and economy. This one na one chance presidency. But I get paid in dollars so I guess I shld be happy

euro 222 men na changing tins oh

any morning I wake and remember I'm Nigerian, I intuitively know it's going to be a horrible day.

Dee60:

What about the savings when oil sold for USD130?

FG, please educate us on the whereabout!

You're asking for stolen savings? How dare you!

Uuuummmmm! I think the naira is not going down. Its actually going up. From N160/Dollar to N180/dollar. It is going up. Let's celebrate our over reliance on oil and the dollar.

Dee60:

What about the savings when oil sold for USD130?

FG, please educate us on the whereabout!

Exactly the same question I have asked. When Oil price was going up, we never knew the impact. The best we heard of is that the Money is being saved for rainy days. In less than 1 month of the price of oil dropping we already feel the immediate impact. The FG is talking of austerity measures but at the same time it approved 9.2 bn Naira for the purchase of stoves!!!. Bros. JONA, no be just one chance, na one catastrophic one chance. Nigerians should just pray that God provides a better President whether in 2015 or 2019. With Mr. JONA. things can only get worse.

sandraokosun:
when you have a drunk shoeless jonothing ebola thats what you get. He would be jailed by #GMB in 2015

I think this freedom of speech thing is really getting into ur head slowpoke. U better watch ur tongue...

This is bad I swear