MoneyGreen:
guy you just shot yourself on the bombom.. GEJ administration led us to where are now.. Stealing is not corruption so they stole all the dollars and hide it in their houses..

Well....to some extent...GEJ did lead us here....by not saving.

But....even if GEJ saved....it would not have changed anything much....except that all this economic trobule we are facing would have started later this year.

When the oil price began dropping back in 2014...Saudi had $724bn in their accounts. One year later....that had dropped to 600bn.

124 bn dollars gone....spent not on corruption or looting, but on buffering the Saudi currency...the riyal.

That is why Saudi is now talking about diversification heavily.

Look at Nigeria. We had 32bn USD in our accounts when PMB took over. It is now below 28bn USD (It would have been worse if not for the CBN's restrictive polices).

IF gej had saved...we would have had at best 100bn USD. or 60BN usd.(Compare that to the Saudis).

Long and short....Nigeria is not a rich nation. We never had enough money...which is why corruption here is evil, but most Nigerians don;t see it that way.

Rich nations are nations that spend money on innovation and tech and science and industry. Does Nigeria do that? PDP and APC are not ready to do that because....Nigerians do not want to undergo the hardship that comes from doing the hardwork needed to become like CHina and Japan and company. You Nigerians just want a nice office job and salary every month. Well....I am here to tell you that the job does not exist...and that even if gej saved, and excluded corruption....we still have the problem of Nigerians living for govt welfare.

bros12345:


Are you not ashamed to write this epitaph that you just wrote here?

In 6 years dollar, 150-210 ( difference - N60 )

In 9 Months, dollar, 210 - 380 (difference - 170)

At this rate, Buhari will take it to N1,500 in 8 years.

Did you say in 8YEARs? Na only for your Village Buhari go still be president after 2019.

asokoromadam:


If you are that smart ,why not contribute in the present administration,rather than showing ignorance in the south western website

Mtcheeeew. Typical. Now run with ur legs in b/w ur laps.

koboko69:


Lol. I thought i was talking to someone smart. And how much was dollar when it was handed over to GEJ, ans what was the crude rate when dollar was 215 in the parallel market after the official devaluation of Naira by GEJ to 197.

2014 - 2015 - Crude - $65 pb - Dollar 210 - $1

2015 - 2016 - Crude - $51 pb - Dollar 370 - $1

Is Buhari not mad?

amaechi1:


You have just shot yourself on the foot. OBJ left it @145, GEJ took it up from Yaradua @150 and left at 210 despite the wastage of defending the naira.

u know how to calculate like this, and u cannot and not just do it right. He met it at 150 and at the end of 5 years it became 210. #60 difference in 5 year. Now they met it at 210, in less than a year it became 340. U self check the difference and also in ur mind imagine what might happen in the next 3 years if it continues like this.

What abt the imported chinese yuan, r nigerians nt using it 4 busines transactions?

agarawu23:
the past govt is from your soil so u will definitely defend him.

The past govt stole all our foreign reserves.
the money the past govt stole where all in dollars and you expect the present govt to shitt dollar for u so u can buy 200#/$ abi?

We are still suffering from the mess the past govt put us tru.

NOT THE PAST GOVT but all the past Govt. EVEN IF YOUR APC MAKE ALL THE MISTAKE IN THE WORLD TO CAUSE A COLLAPSE OF THE ECONOMY YOU WILL STILL BLAME GEJ. 95% OF THIS GOVT ARE THEY NOT PART OF THE PAST GOVT? WE KNOW SAY ALL THE PAST GOVTS INCLUDING BUHARI WERE CURRUPT, WHAT WE ARE SAYING IS THAT LET APC ACT AND MOVE THE COUNTRY FORWARD

If u ask me,na who I go ask? In[ Omawunmi's voice].

luvinhubby:


2014 - 2015 - Crude - $65 pb - Dollar 210 - $1

2015 - 2016 - Crude - $51 pb - Dollar 370 - $1

Is Buhari not mad?

It is only God thag can deliver you clowns. Dollar fell as low as 28usd in June 2015. And never got to 40usd till this year, just about 2 months ago, and later rose to 51usd as a result of terrorists activities in the ND. Even at the rate Nigeria is not a benefactor as its production rate have drastically reduced as a result of terrorists activities, which means Nigeria is even selling lesser oil. Now let me remind your deliberate amnesia, that Jonathan and Yarudua used a whopping 20bn dollars for phantom cosmetic defense of the Naira. Should that tried with the paltry $30bn left by Jonathan despite selling oil at an average of $100/barrel for almost 4 years, Nigeria will be a failed country. But you wil wil rather prefer that happens, cos of ur senseless bitter hates.

989900:
Flexible exchange rate, Yuan deal, all hanging in the air. This is what uncertainties breed: fluctuation.

Going thru the comments, I do not think this is the right time to be doing back and forth on who's to blame less or blame more -- that's waste of energy -- burning resources we don't have (time, MB, battery life/energy, sweat, and e.t.c) without learning anything, nor proffering anything.

Solutions we can all glean from would rather be more appropriate use of time right now -- time = Naira/Dollar.

Please what do you think of this CBN chap?

It's obvious CBN inability to make clear the flexible exchange policy is fueling Naira flip flop. For 2 weeks now he hasn't come up with clarity. What's wrong with the chap?

Honestly I am tired of raising prices to meet current exchange rate. I have reached a point of not breaking even on most products.

Nigerians gotta stop the blame game now. All of us are the cause of this. Why should we even care about the value of the dollar in the first place.
Dependence on oil brought us here, oil prices have crashed so should our economy! I'm baffled by how Buhari's regime has been unable to introduce economic policies that tame the rising naira. Africa needs effective leaders who are willing to change the status quo when need be, this old folks are thinking 80s nobody is looking beyond his nose in the present administration. This has always killed us.

Anasko:
The Naira, on Friday, appreciated against the
dollar at the parallel market, trading at N352,
from N370 traded on Wednesday.
The News Agency of Nigeria (NAN) reports
that the Nigerian currency gained N18
between Wednesday and Friday.
The currency, however, weakened further
against the Pound Sterling and the Euro as it
exchanged for N515 and N405 respectively.
Meanwhile, the official exchange rate
remained at N197 to a dollar at the apex
bank window.
Traders at the market told NAN that the
market got a boost due to the availability of
the greenback for trading.



http://thenationonlineng.net/naira-appreciates-dollar-2/

Smh...gosh I swear I prefer gudluck to dis pmb.....chop make I chop no b national anthem PROBE PROBE no lite no fuel...Fulani bastard n BH cauain havoke erwia

koboko69:


Mtcheeeew. Typical. Now run with ur legs in b/w ur laps.

That's a proverb

Proverbial cowards ,typical of amala eaters

Quakertellicus1:




Well.....for me, I do not blame Buahri for getting the naira down.....and I do not commend GEJ for keeping the naira up.

The reason why the naira stayed up under GEJ was because we had enough dollars/forex to keep the naira up at the time thanks to high oil prices.

In 2014....oil prices went down, and as a result....we no longer had the forex to keep the oil money up.

Thus the naira went down.....vs the dollar and other currencies.

The only way we can get the naira up....and this is a message for everyone.....is by getting our foreign currency supply stable. Now...the answer is not in oil....because everyone now is discovering oil....and oil is not going to go back to 100USD like before. The US is now basically self sufficent in oil.

And it won;t be found in agric or mining either....because agric prices are perpetually low...and minerals are also subject the the same price fluctuations like oil (Zambia which depends on copper is in hard times now).

Resource control (which I oppose because Nigerian corruption would destroy what is really a good idea)...ideally wouldbring more revenue for the states/regions (and end illegal mining and the losses therein). But....it still WONT solve the problem we have....stable supply of forex....thanks to the fluctuations in the price of agric, oil and mining products....because.....we do not control the prices.(It worked back in the 1960's because back then we had a guaranteed market in the UK. Not anymore).

Wht would save our naira is industrial development (Not GEJ's assembly plants...which just waste forex via imports of car parts to assemble. ). We must focus on being like CHina....and using our raw materials....to devleop a strong industrial base.

But the problem is....it involves going through some hardship....while we spend money on developing support infrastructure. That is why the APC.....or the PDP or even Nigerians won;t take that route. Because....no one wants to work. Everyone wants an easy life.

The thing is....you Nigerians have to get rid of the idea that there is a universal cornucopia of goodies in the sky.....and work for your money. Innovation will save us. Oil won;t.

may God continue to bless you and give you more wisdom. Myopic youths of today and illiterate yet extravagant politicians should learn from this

uduak2016:


You shot yourself in the mouth...GEJ inherited dollar @150 but took solid 5 yrs to get to 210. But with Buhari, it took less than 9 months to take it from 210 to 370.

that means after five years it will be 1000naira to 1dollar.time to store dolar for furture sale.sai baba slow mode.

asokoromadam:


That's a proverb

Proverbial cowards ,typical of amala eaters

have sense IJN

donMIG:
Smh...gosh I swear I prefer gudluck to dis pmb.....chop make I chop no b national anthem PROBE PROBE no lite no fuel...Fulani bastard n BH cauain havoke erwia

chop I chop made corruption eat deep into the economy because some people use bulldozers while you're still struggling with teaspoon

Quakertellicus1:




Well.....for me, I do not blame Buahri for getting the naira down.....and I do not commend GEJ for keeping the naira up.

The reason why the naira stayed up under GEJ was because we had enough dollars/forex to keep the naira up at the time thanks to high oil prices.

In 2014....oil prices went down, and as a result....we no longer had the forex to keep the oil money up.

Thus the naira went down.....vs the dollar and other currencies.

The only way we can get the naira up....and this is a message for everyone.....is by getting our foreign currency supply stable. Now...the answer is not in oil....because everyone now is discovering oil....and oil is not going to go back to 100USD like before. The US is now basically self sufficent in oil.

And it won;t be found in agric or mining either....because agric prices are perpetually low...and minerals are also subject the the same price fluctuations like oil (Zambia which depends on copper is in hard times now).

Resource control (which I oppose because Nigerian corruption would destroy what is really a good idea)...ideally wouldbring more revenue for the states/regions (and end illegal mining and the losses therein). But....it still WONT solve the problem we have....stable supply of forex....thanks to the fluctuations in the price of agric, oil and mining products....because.....we do not control the prices.(It worked back in the 1960's because back then we had a guaranteed market in the UK. Not anymore).

Wht would save our naira is industrial development (Not GEJ's assembly plants...which just waste forex via imports of car parts to assemble. ). We must focus on being like CHina....and using our raw materials....to devleop a strong industrial base.

But the problem is....it involves going through some hardship....while we spend money on developing support infrastructure. That is why the APC.....or the PDP or even Nigerians won;t take that route. Because....no one wants to work. Everyone wants an easy life.

The thing is....you Nigerians have to get rid of the idea that there is a universal cornucopia of goodies in the sky.....and work for your money. Innovation will save us. Oil won;t.

There is no mincing words about it,buhari lacks the mental to govern a state in this modern age while apc lacks the structures to present the nation with any sensible and responsible leadership. Apc may be good in governing a state like Lagos but certainly governing Nigeria is far too bigger for them to handle

aljharem:


ok mumuni, calculate the difference between 210-150 within a soace of 6 years and 380 -210 within a year

animal, check the value of Oil which account for about 80% of our revenue as at when GEJ was there and now that Buhari is there.

Quakertellicus1:


Well....to some extent...GEJ did lead us here....by not saving.

But....even if GEJ saved....it would not have changed anything much....except that all this economic trobule we are facing would have started later this year.

When the oil price began dropping back in 2014...Saudi had $724bn in their accounts. One year later....that had dropped to 600bn.

124 bn dollars gone....spent not on corruption or looting, but on buffering the Saudi currency...the riyal.

That is why Saudi is now talking about diversification heavily.

Look at Nigeria. We had 32bn USD in our accounts when PMB took over. It is now below 28bn USD (It would have been worse if not for the CBN's restrictive polices).

IF gej had saved...we would have had at best 100bn USD. or 60BN usd.(Compare that to the Saudis).

Long and short....Nigeria is not a rich nation. We never had enough money...which is why corruption here is evil, but most Nigerians don;t see it that way.

Rich nations are nations that spend money on innovation and tech and science and industry. Does Nigeria do that? PDP and APC are not ready to do that because....Nigerians do not want to undergo the hardship that comes from doing the hardwork needed to become like CHina and Japan and company. You Nigerians just want a nice office job and salary every month. Well....I am here to tell you that the job does not exist...and that even if gej saved, and excluded corruption....we still have the problem of Nigerians living for govt welfare.

I have come to realise that the problem of Nigeria is Nigerians themselves. Regardless of whom finds himself in power whether Igbo, Hausa or Yoruba the result is mostly the same. Our leaders are a reflection of who we are. However, there a few of us whom are different, there are few us whom are productive and not too corrupt. But sincerely we are too few.
Just as corporate bodies hire foreigners to help manage their companies, Nigeria's Govt. needs to considered hiring foreign expertise to manage some of our assets. To be candid, I think need a seasoned foreigner to manage places like NNPC, TCN, some of our agricultural programmes etc. This is not to say we lack the knowledge or intellect, we definitely have plenty of that, but we lack the discipline and maturity to manage ourselves.

agarawu23:
the past govt is from your soil so u will definitely defend him.

The past govt stole all our foreign reserves.
the money the past govt stole where all in dollars and you expect the present govt to shitt dollar for u so u can buy 200#/$ abi?

We are still suffering from the mess the past govt put us tru.

The Billions and trillions he(Buhari) recovered, where is it?? Has anything changed even after the recovery?, things have grown worse instead. So what are we talking about.

aljharem:


ok mumuni, calculate the difference between 210-150 within a soace of 6 years and 380 -210 within a year

Take it easy. Do you know how much Buhari will leave it?

ayindejimmy:


Take it easy. Do you know how much Buhari will leave it?

1000 naira to a 1 dollar

onatisi:
......

Sorry....your response is very very poor.I expected better.

Let me repeat myself to you.

We are in this mess because we are resource dependent.

And the mess is beyond whoever is in charge....it goes right back to independence.

Back in 1960....when we were standing at the dawn of independence....we had an econony dependent on exporting resources whose prices we do not control.

That is why we are in this mess. But we miss the solution by focusing too much on how much we earn from such resoruces...without realisng that the whole foundation is dependent on sand. (And very fast sinking sand by the way).

If Buhari is ''dull'' as you put it...that means that every past leader including your GEJ is ''dull'' too. And by the way....that includes most Nigerians.

Strong nations with strong currencies.....are countries that can control the price of what they export. And those countries are ...........industrial nations.

So....instead of looking at who runs Abuja.......ask yourself why the SE and SS has not developed an industry that can build refineries and oil rigs in Nigeria? Why hasn't the North developed a cotton spinning machine that it could export? Why hasn't the Western region developed a cocoa processing machine that could be manufactured for export.? And why don't we have 20 android phone manufacturing companies....and so on.

Answering those questions is how we would prosper....separate...or together.

(P.S....You people in opposition can do better than this your whatever-dinho comments).

koboko69:


It is only God thag can deliver you clowns. Dollar fell as low as 28usd in June 2015. And never got to 40usd till this year, just about 2 months ago, and later rose to 51usd as a result of terrorists activities in the ND. Even at the rate Nigeria is not a benefactor as its production rate have drastically reduced as a result of terrorists activities, which means Nigeria is even selling lesser oil. Now let me remind your deliberate amnesia, that Jonathan and Yarudua used a whopping 20bn dollars for phantom cosmetic defense of the Naira. Should that tried with the paltry $30bn left by Jonathan despite selling oil at an average of $100/barrel for almost 4 years, Nigeria will be a failed country. But you wil wil rather prefer that happens, cos of ur senseless bitter hates.

I know how scarce common sense is with your likes, thanks to Ben Bruce.

Is pipeline vandalism a today occurence? No, has been happening for the past 18yrs.

Did oil slump start a year ago? No, began mid 2014.

Buhari has over $38 billion war chest to work, so he has no excuse.

Only dumb & senseless stooges, a.k.a Zombies defend super clueless Buhari.

Nigerians like making and finding excuses . Lets call a spade a spade ,this government has failed woefully in the last 12 months and even they themselves have come out to acknowledge it,they openly said they were not ready for cover an when they won because they never knew they could win,okorocha has said it ,so why are some people just trying to make a dead man smile for a photo shoot by force

Now they need to buckle up .

JaaizTech:


I have come to realise that the problem of Nigeria is Nigerians themselves. Regardless of whom finds himself in power whether Igbo, Hausa or Yoruba the result is mostly the same. Our leaders are a reflection of who we are. However, there a few of us whom are different, there are few us whom are productive and not too corrupt. But sincerely we are too few.
Just as corporate bodies hire foreigners to help manage their companies, Nigeria's Govt. needs to considered hiring foreign expertise to manage some of our assets. To be candid, I think need a seasoned foreigner to manage places like NNPC, TCN, some of our agricultural programmes etc. This is not to say we lack the knowledge or intellect, we definitely have plenty of that, but we lack the discipline and maturity to manage ourselves.

We do not need foreigners....we do need to privatize more .....because the profit motive would make people work hard....and bring in more profit.

And to some extent bring down corruption...because it harms the profit motive.

onatisi:
1000 naira to a 1 dollar

That may be ur wish.... But don't force it on others

luvinhubby:


I know how scarce common sense is with your likes, thanks to Ben Bruce.

Is pipeline vandalism a today occurence? No, has been happening for the past 18yrs.

Did oil slump start a year ago? No, began mid 2014.

Buhari has over $38 billion war chest to work, so he has no excuse.

Only dumb & senseless stooges, a.k.a Zombies defend super clueless Buhari.

The way you Nigerians call money out....you make me laugh.

Look....Saudi Arabia spent 100billion Dollars to buffer their currency in one year.(They have 600billion right now).

I am telling you this to show that we are, and have never been a rich nation.

(And your argument about pipelines shows that you people admit that GEJ failed too.....hehehehe).

If you want to be rich....like China.....we have to export things whose prices we can control. Not oil, not agric, not mining by they way....we cannot control the prices in those sectors.

Oh....and you Nigerians should stop thinking of government as your personal ATM. That is not how govt works.

And zombies do not exist.

order for you yeezy boost at a very cheap price

luvinhubby:


I know how scarce common sense is with your likes, thanks to Ben Bruce.

Is pipeline vandalism a today occurence? No, has been happening for the past 18yrs.

Did oil slump start a year ago? No, began mid 2014.

Buhari has over $38 billion war chest to work, so he has no excuse.

Only dumb & senseless stooges, a.k.a Zombies defend super clueless Buhari.

And your point is? You see the main problem. You can. Ot even think logically? You were the one that left $38bn bah?
Keep cooking figures to suite your wailing appetite.

Oil slump started 2014 and ur hero was already borrowing to pay salaries in feb and mar 2015....

Even madam gele stated clearly that the economy today is as a result of Jonathan's government lack of political Will to save.