Five Oil Exporters Affected By Currency Devaluation Most - Business (3)

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Five Oil Exporters Affected By Currency Devaluation Most - Business (3) - Nairaland

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Re: Five Oil Exporters Affected By Currency Devaluation Most by makabulchi(m): 8:35am On Feb 19, 2016

NgeneUkwenu:

So whose fault?

Blame Gej

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by Johnrake69: 8:37am On Feb 19, 2016

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Svae , the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

I think it's time you really open your eyes to the reality on ground. 80% of APC members were members of the PDP that killed this country. So moving forward, What is the current govt doing? What signals are they sending out? In the midst of plunging economy what your clueless FEC discussed was Buhari’s oversee travels and climate change. We have 2.2trillion fraud in the budget, the amnesty guy Buhari appointed blew #48billion on frivolous contracts within 5 months, Buhari trying to drive the economy with monetary policy. This government is clueless abeg.

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 8:37am On Feb 19, 2016

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Svae , the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

****

Is that all you can say to defend your pay master "budget of change"??
Or should we blame PDP 16yrs in office too?

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by Demdem(m): 8:38am On Feb 19, 2016

makabulchi:

Summary: Blame GEJ

Of cos. This is no brainer.
When oil was more than $100 dollars per barrel, the fool never diversity our economy. Is it now that oil is less than $30 that diversification will happen within months?
Jeeez, by the time the fool was leaving, we were borrowing to pay salaries after many years of plenty. It's a miracle that Buhari so far has sustained us this far.

4 Likes 1 Share

Re: Five Oil Exporters Affected By Currency Devaluation Most by ishiamu(m): 8:38am On Feb 19, 2016

lurlah2014:
U THINK THEY ARE BETTER COS U CAN ONLY SEE THE POSITIVE SIDE OF THEM WHILE NEGLECTING HOW THEIR NEGATIVE EFFECT AS AFFECTED THEIR CITIZENS TOO.
WHY DO U STILL WANT NIGERIAN ATM CARD WHEN YOU ARE NOT IN NIGERIA? CAN YOU USE THEIR OWN ATM HERE IN NIGERIA ? HAVE THEY EVER TOUT OF INSTALLING ONE HERE IN NIGERIA? YOU KEEP UPGRADING THEIR OWN ECONOMY IN AN UNCONSCIOUS MANNER AND DE-VALUATING YOURSELF AND THE ECONOMY WITH THE DEVASTATING STATE OF YOURS

CHINA WAS WORST THAN NIGERIA WHEN THEY WHERE IN THIS STATE TOO, BUT, THEY SURVIVED IT
YOU WILL KEEP STRUGGLING TO DO THAT NOT UNTIL YOU THINK POSITIVE OR BETTER STILL MAKE A PLAN B FOR YOUR SITUATION COS THE POLICIES WONT CHANGE #NEVER#

AM VERY SURE THAT VERY SOON THOSE YOUR ACQUIRED USA CERTIFICATE WILL NOT BE FUNCTIONING IN NIGERIA AGAIN #SUFFERING BUT SMILING DUDE

You made no sense girl

1 Like 1 Share

Re: Five Oil Exporters Affected By Currency Devaluation Most by ibietela2(m): 8:38am On Feb 19, 2016

NighttWalker:
What the fvck are you talking about? Everyone's feeling the heat, my uni fees have almost doubled thanks to buharis government and the devaluation of the naira.

Leave that guy because he starts insulting you....... Imagine what he is saying that ONLY ELITES are affected.

My hosting fee is $25 now 9k by month end if things doesn't improve it will be around 15k and he is saying elite

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by cele360: 8:39am On Feb 19, 2016

How many of the above counties u mentioned devalued thier currency, very soon one dollar will be equivelent to #1000, thats too bad, he lacks vision, thngs are getting worst instead of getting better and bringing hope for Nigerians, they make us look more hopeless, Buhari is wicked to Nigerians, he delight pleasure in the suffering of Nigerians who voted for him, Currupt Govt Apc, with no vision and solution to move this nation ahead, only counting on thier failures and reason why they can not fulfil any of their campaign promises.

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by NgeneUkwenu(f): 8:39am On Feb 19, 2016

frenchpharaoh1:

Am still to phantom out why seun and mynd44
Still allows this scammer in nairaland forum.

Is that all you can say to defend your pay master "budget of change"??
Or should we blame PDP 16yrs in office too?

Mynd44 Please enforce rule 2:

Re: Five Oil Exporters Affected By Currency Devaluation Most by freddaboh(m): 8:39am On Feb 19, 2016

efilefun:
Those blaming Buhari on this issue are just like a Grandfather who never saved nor invested when there was excess asking his grandchild why the family is poor. Atleast Obasanjo left power with 0naira debt and a robust Reserve while crude oil was sold for about $60 yet an ineffectual buffoon ruled and squandered everything with crude oil being sold above $100 yet some EKPAs sees him as their hero lol

Right on point

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by pappilo(m): 8:40am On Feb 19, 2016

NighttWalker:
What the fvck are you talking about? Everyone's feeling the heat, my uni fees have almost doubled thanks to buharis government and the devaluation of the naira.

You are a born liar. Definitely not a university in Nigeria.

If you are in a foreign uni, like demdem said your are OYO.

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by 1Dray(m): 8:40am On Feb 19, 2016

franciskaine:
It still beats me wonder how someone would wake-up and blame the present economic woes on Buhari. Nigerians should be singularly grateful in the leadership we have now, God bless PMB.

Typical of a diehard asslicker.

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by Honza27(m): 8:42am On Feb 19, 2016

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 8:42am On Feb 19, 2016

NgeneUkwenu:

Mynd44 Please enforce rule 2:

Mynd44 please enforce rule no.9

Re: Five Oil Exporters Affected By Currency Devaluation Most by ishiamu(m): 8:43am On Feb 19, 2016

rozayx5:

they are now on the defensive

when they were campaigning they promised dubai. ngeneukwenu was their leader . now instead of showing me where the refineries they promised are gettng built and their million houses . she is here talking trash . wetin concern us with venezuela? by 2019 most of them will run fron this forum because of excess shame. barcanista the belle face analyst is now confused already

Their attack blunt pass man utd own... shit

Cc : sameer1212 how market?

Re: Five Oil Exporters Affected By Currency Devaluation Most by NgeneUkwenu(f): 8:43am On Feb 19, 2016

cele360:
How many of the above counties u mentioned devalued thier currency, very soon one dollar will be equivelent to #1000, thats too bad, he lacks vision, thngs are getting worst instead of getting better and bringing hope for Nigerians, they make us look more hopeless, Buhari is wicked to Nigerians, he delight pleasure in the suffering of Nigerians who voted for him, Currupt Govt Apc, with no vision and solution to move this nation ahead, only counting on thier failures and reason why they can not fulfil any of their campaign promises.

It is Only Nigeria that has not devalued its currency...Can't you read?

Re: Five Oil Exporters Affected By Currency Devaluation Most by Demdem(m): 8:44am On Feb 19, 2016

ibietela2:

Leave that guy because he starts insulting you....... Imagine what he is saying that ONLY ELITES are affected.

My hosting fee is $25 now 9k by month end if things doesn't improve it will be around 15k and he is saying elite

What is the percentage of Nigerians who even understand this or have this as their primary headache? The mere fact that u are even involved in this suggest that u are among the elite. Live with the consequence of previous bad leadership.
That tomato selling mama in the market doesnt ffucking care or know what this is all about.

Re: Five Oil Exporters Affected By Currency Devaluation Most by plaetton: 8:45am On Feb 19, 2016

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Svae , the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

First, so you're blaming PDP for the state of the general economy?
Fine.
That's a legitimate statement considering that they have been at the central power since 1999.

But , but, let me ask you in all honesty, when you say PDP mismanaged the economy since 1999, with what yardstick do you use to compare?

Before 1999, who managed the economy?

Did they manage it well ?

PDP was corrupt. We all agree.
But as compared to what ?

Now, another thing that escapes most of you is that at least 75-80% of those that presently make up the APC were at one time, staunch PDP members.

I need to remind you that APC stalwarts strongly objected to the creation of sovereign wealth fund ( the much talked about savings for the rainy day).
Selective amnesia?

I need to remind you further that all states of the federation, including APC States, participated willfully in the depletion of our foreign reserves.

Now, since you and I are aboard the famous BLAME TRAIN, let's make a detour into the past and pass the blame around.
Starting with GEJ, who should rightly be blaming the lame duck presidency of Yaradua, who's family moved the presidency to the kitchen while he was dying in a hospital bed in Saudi Arabia.

Yaradua's people, should in turn, blame the presidency of OBJ, who accomplished much, but left a high standard of administration that they could not attempt to match.

OBJ, should also blame Abdusalami and Abacha for the locust years, where again, the presidency resided in Abacha's kitchen.

And then we ride the BLAME TRAIN to the IBB years, the anything goes years, when Nigeria was SAP-ed into a valley of dry bones.

My point in all of this is that APC federal government and their apologists sing songs that the immediate past administration mismanaged the economy is hollow and baseless; for the simple reason that our economy has NEVER EVER been properly managed by any administration since Independence.

The challenge, the challenge of any new government, this new government, this supposedly new crop of leadership is to embrace the present challenge and show , through concrete action, that they can indeed demystify leadership and economic stewardship in Nigeria.

Anything else surely betrays their HOLLOWNESS and confusion.

9 Likes 2 Shares

Re: Five Oil Exporters Affected By Currency Devaluation Most by Demdem(m): 8:47am On Feb 19, 2016

pappilo:

You are a born liar. Definitely not a university in Nigeria.

If you are in a foreign uni, like demdem said your are OYO.

Exactly. It's peeps like him that have saturated the parallel market that has made prices there to continue to grow. Naira officially remain at 199 for those adding to the economy and not those succking it dry.

Re: Five Oil Exporters Affected By Currency Devaluation Most by makabulchi(m): 8:48am On Feb 19, 2016

Demdem:

Of cos. This is no brainer.
When oil was more than $100 dollars per barrel, the fool never diversity our economy. Is it now that oil is less than $30 that diversification will happen within months?
Jeeez, by the time the fool was leaving, we were borrowing to pay salaries after many years of plenty. It's a miracle that Buhari so far has sustained us this far.

Okay,so wats d solution sir

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 8:48am On Feb 19, 2016

1Dray:

Typical of a diehard asslicker.

your opinion, you have a right to blv what you want. Just make sure you place rationality above sentiments.

Re: Five Oil Exporters Affected By Currency Devaluation Most by pappilo(m): 8:49am On Feb 19, 2016

ibietela2:

Leave that guy because he starts insulting you....... Imagine what he is saying that ONLY ELITES are affected.

My hosting fee is $25 now 9k by month end if things doesn't improve it will be around 15k and he is saying elite

Why dont you use a Nigeria based company to host?

http://www.hyperia.com

Hyperia has been in Nigeria forever. If all you small players used their services instead of paying foreign companies in dollars, they would have been a much more successful company.

3 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by luvinhubby(m): 8:51am On Feb 19, 2016

NgeneUkwenu:

So whose fault?

The man at whose table the buck stops.......Buhari!

Re: Five Oil Exporters Affected By Currency Devaluation Most by seunt4ut(m): 8:51am On Feb 19, 2016

Demdem:
even at that babas leadership has ensured that only the elite at most feel the brunt of devaluation. Most vulnerable who happen to be the majority dont even know or feel its impact.this explains why as against the elites call that he should allow the official rate to fall naturally, he says no. Let the overfed go source for their dollars elsewhere to fund their luxuries.

You make sense with your simple illustration.

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by Herrmes: 8:51am On Feb 19, 2016

lurlah2014:
U THINK THEY ARE BETTER COS U CAN ONLY SEE THE POSITIVE SIDE OF THEM WHILE NEGLECTING HOW THEIR NEGATIVE EFFECT AS AFFECTED THEIR CITIZENS TOO.
WHY DO U STILL WANT NIGERIAN ATM CARD WHEN YOU ARE NOT IN NIGERIA? CAN YOU USE THEIR OWN ATM HERE IN NIGERIA ? HAVE THEY EVER TOUT OF INSTALLING ONE HERE IN NIGERIA? YOU KEEP UPGRADING THEIR OWN ECONOMY IN AN UNCONSCIOUS MANNER AND DE-VALUATING YOURSELF AND THE ECONOMY WITH THE DEVASTATING STATE OF YOURS

CHINA WAS WORST THAN NIGERIA WHEN THEY WHERE IN THIS STATE TOO, BUT, THEY SURVIVED IT
YOU WILL KEEP STRUGGLING TO DO THAT NOT UNTIL YOU THINK POSITIVE OR BETTER STILL MAKE A PLAN B FOR YOUR SITUATION COS THE POLICIES WONT CHANGE #NEVER#

AM VERY SURE THAT VERY SOON THOSE YOUR ACQUIRED USA CERTIFICATE WILL NOT BE FUNCTIONING IN NIGERIA AGAIN #SUFFERING BUT SMILING DUDE

You seriously think foreign ATMs don't work in Nigeria? Damn you silly.

Re: Five Oil Exporters Affected By Currency Devaluation Most by makabulchi(m): 8:53am On Feb 19, 2016

frenchpharaoh1:

****

Is that all you can say to defend your pay master "budget of change"??
Or should we blame PDP 16yrs in office too?

Blaming GEJ sustains dem

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by Demdem(m): 8:57am On Feb 19, 2016

makabulchi:

Okay,so wats d solution sir

We should start looking for alternatives to oil to get foreign exchange. The govt is on track and they have singled out natural resource and agriculture for this. The challenge here is u will need to invest in them first before returns and this can't happen just within months. Fayemi has started work, serious work and am confident he will deliver.
Pending when this happen, we will have to continue to endure the pain of being a monoeconomy at the mercy of oil price. Baba has done it in such a way that the elite will suffer more while the poor feel it less. He never promised us magic so expecting one won't make sense.

2 Likes

Re: Five Oil Exporters Affected By Currency Devaluation Most by badttrader(m): 8:57am On Feb 19, 2016

Demdem:
even at that babas leadership has ensured that only the elite at most feel the brunt of devaluation. Most vulnerable who happen to be the majority dont even know or feel its impact.this explains why as against the elites call that he should allow the official rate to fall naturally, he says no. Let the overfed go source for their dollars elsewhere to fund their luxuries.

One bottle of orijin for you!!!

1 Like

Re: Five Oil Exporters Affected By Currency Devaluation Most by Demdem(m): 8:58am On Feb 19, 2016

seunt4ut:

You make sense with your simple illustration.

Seriously that is just the truth. No one is happy with current happenings but it's simply inevitable.

Re: Five Oil Exporters Affected By Currency Devaluation Most by Demdem(m): 9:00am On Feb 19, 2016

pappilo:

Why dont you use a Nigeria based company to host?

http://www.hyperia.com

Hyperia has been in Nigeria forever. If all you small players used their services instead of paying foreign companies in dollars, they would have been a much more successful company.

Thank u for providing a Nigerian solution for him. It will go a long way in reducing the pressure on our naira.

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 9:05am On Feb 19, 2016

We must learn to prioritize our foreign exchange needs. You don't need $4, 000 forex to buy a handbag neither do you need to import N250, 000 human hair when you can grow yours. You don't need to sit behind a computer and other Armani suits or Prada bags. All these drain the foreign exchange reserves.

4 Likes 1 Share

Re: Five Oil Exporters Affected By Currency Devaluation Most by lurlah2014(f): 9:05am On Feb 19, 2016

HOW EFFECTIVE AND RAMPANT IS IT??

Herrmes:
You seriously think foreign ATMs don't work in Nigeria? Damn you silly.

Re: Five Oil Exporters Affected By Currency Devaluation Most by Nobody: 9:08am On Feb 19, 2016

NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...

That's not the best that can come out of you. We need incentives and exporting plans. Not this trash you wrote up there. If Nigeria cannot diversify the economy, we have no other way out as crude oil Is losing its value. It's time you forgot about Ex President Jonathan. And make appeals to the incumbent president to diversify our economy. Ish...

1 Like

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