OYIBOplayer:
TYPICAL WAILER. So u agree buhari is not NIGERIA"s problem? WAILERS should just accept that THEY NEVER LOVE BYHARI before the election that brought him in and will never like him after the election.

buari is nigeria's problem. why becos of his ancient economic policies. buari is d reason why d economy is in recession. a record he was able to maintain back to back.

Omooba77:
Every record has been broken by this government

NEGATIVELY!

MrKrap:
if GEJ was in power today, nigeria will never be in recession.

Nigeria would've been in a worse state.....wayyy worse. GEJ was in charge when the price of crude was more than double than it ever was under Buhari. Yet... the reserves dropped big time under his watch... under his watch the value of the Naira kept diving until he left office. If he couldn't manage the economy... the reserves under favourable conditions common sense would should tell you he would've been a miserable failure under present conditions.
We are our biggest obstacle ... wayyy too many of us wear shades... party, tribal and religious shades..... in the dark.
...

naijaboy756:
Pls will u just sh*ut up and get o*utta here? Even Zombies in movies have brains. If they don't attack Buhari as the President gpresiding over the destruction of our country is it late Yaradua that will be held responsible? Must you support rubbish because of religio*n? Goooshhhhh!

Some people are just useless . imagine the guy explanation. i don dey ignore all those type of people because them just useless

if GEJ stole all the money, didn't save & the economy grew as it did then...

why can't PMB who is not stealing any thing manage the situation by at least maintaining the status quo?

this is just like a woman who complains that for every N100 her husband earns he spends only N20 for the family (but they are looking good & feeding fat) while he spends the rest on frivolities...

she then marries a supposedly responsible man who earns N40, but now her life is in shambles.

shouldn't the 'responsible' man at least maintain the status quo if he can't improve her life?

Sibrah:
If Nigerians had left Jonathan in power by now there would be less than $2B there. Buhari, throug excellent management help slow down its depletion.

can see you need your drugs ASAP!

naijaboy756:
Imagine Obama had people like you as supporters when he took over an American economy under recession. If Buhari isn't willing to work, he should just resign. How can a man be toying with the destiny of over 170M people? Didn't we elect him to get alternative sources?

We voted him to get alternative source quit alright...But are we supporting or frustrating his efforts in finding alternative sources...HE took a board step by banning 41 products including rice from assessing forex from official forex market...this programme was backed by Bank of Agriculture and bank of industry offer of giving soft loans to Nigerians through YEP Programme to encourage diversification into Agricultural and industrial sector...But its a pity short sighted morons analysed the programme on the basis of high cost of goods in the market(especially rice), the government made efforts in attracting direct foreign investments, but its not going down well because of the activities of militants and other security challenges, Buhari has exceeded expectation(like it or not) ,our aptitudes brought us were we are....thats why i support the change begins with me...

Sibrah:
lack of alternative source of $$ asides oil sales is depleting it. The reserve is like the fixed asset of nation.

We have other sources of forex remittance but the Buharinomics killed them off with unfair economic policies.

The diaspora no longer send as much to avoid confiscation

The foreign investors pulled out and the intending ones can't form joint venture with any Nigeria business for fear of confiscation.

Etc

[quote author=Sibrah post=50254387]Lots of people who don't understand the meaning of this thread will just flow in to attack Buhari.
When Jonathan ruled the reserve was being depleted at a rate of $8B a year when oil sold for average of $80+pb, I wonder how Buhari was able to incur a decrease of just around same $8B in his 16 months with oil selling at average of less than $50pb.


This dullard,u don't know what 11years low means?
Let educate u.
It mean the foreign reserve has never been depleted like this since eleven years.
Yes mallam 11years from now is 2005,
Yet touts like u will come here nd talk about Gej.
Simply bec mtn gave u 10mb on N100 recharge card.

My summation is that even people with 1st Class in Economics; are not Economically wise.

Well thats one hell of an under just 2 years great achievement to the afonja amala people

Sibrah:
If Nigerians had left Jonathan in power by now there would be less than $2B there. Buhari, throug excellent management help slow down its depletion.

Fish brain concentrate on the present administration, stop mixing up things.

na soja go soja come na, abi na by force? make dis Buhari resign na...shai, Black African mentality

Sibrah:
No, we will. Go research the rate at which the reserve was being depleted under GEJ last two years and get to understand what I am driving at.

GEJ was in power for 5years Nigeria was never on recession, PMB's less that a year in office has brought us where we are 2day(recession).

Aristo3146:
We voted him to get alternative source quit alright...But are we supporting or frustrating his efforts in finding alternative sources...HE took a board step by banning 41 products including rice from assessing forex from official forex market...this programme was backed by Bank of Agriculture and bank of industry offer of giving soft loans to Nigerians through YEP Programme to encourage diversification into Agricultural and industrial sector...But its a pity short sighted morons analysed the programme on the basis of high cost of goods in the market(especially rice), the government made efforts in attracting direct foreign investments, but its not going down well because of the activities of militants and other security challenges, Buhari has exceeded expectation(like it or not) ,our aptitudes brought us were we are....thats why i support the change begins with me...

That's the problem with co-dullards like you. In less than a year PMB came in, he banned importation of rice and other items, while he never made provision for them locally. Was that a wise decision?

Sibrah:
Lots of people who don't understand the meaning of this thread will just flow in to attack Buhari.
When Jonathan ruled the reserve was being depleted at a rate of $8B a year when oil sold for average of $80+pb, I wonder how Buhari was able to incur a decrease of just around same $8B in his 16 months with oil selling at average of less than $50pb.

I admire your understanding. Many nairalanders will just be wailing Buhari like say na magician. The NGN cannot just help it but to fall. D reserve depleted more under GEJ even when there was oil boom. So please respect the government that allowed reserve to deplete minimally during an oil bust.

naijaboy756:
Pls will u just sh*ut up and get o*utta here? Even Zombies in movies have brains. If they don't attack Buhari as the President presiding over the destruction of our country is it late Yaradua that will be held responsible? Must you support rubbish because of religio*n? Goooshhhhh!

Na lack of understanding dey worry u Bro.. I doubt if u even understand what our problem really is. I know u will think dat if GEJ could just come back, everything will turn around. Even Obama can't solve our problem. Economies are cyclical, we are just at the negative side now, we'll get out of it, better sef. We don't need to reign curses. Even USA economy dey recess, den who dafuq r we not to experience recession?

Sibrah:
If Nigerians had left Jonathan in power by now there would be less than $2B there. Buhari, throug excellent management help slow down its depletion.

Nice comment bro

naijaboy756:
facts ko, other room ni! Religi*on has b*locked your sense of reasoning

And insensibility has blocked urs. U just lack understanding bro

MrKrap:
if GEJ was in power today, nigeria will never be in recession.

Ohhhh. Dats true. If GEJ was in power, maybe oil wud still be selling for $100pb. . Maybe $1 wud be #120 by now. U dumb bro. We wud have been in deeper shii.. Do ur research well

Thank You Goodluck ebele jonathan. We are still enjoying your brilliant governance even after leaving

naijaboy756:
and you think they will be clueless to halt the depletion?

Bro.. u get knowledge at all?? oil, our major source of dollar was selling for about $80-120pb and reserve was depleting average of $8bn per year, so now wey oil dey sell below $45pb, by now, our reserve for dey deplete like $12b per year and maybe $1 wud sell at #800

progress69:


U are very ignorant and have zero knowledge of what u are talking about.

Let me quickly give u little education.

OBJ left a reserve of $42bn which was later grown to $65bn by Yaradua. That is what wr call savings

Now when there was global reccession, the CBN fel back to the national reserves to defend the Naira and economy which led to a depletion of nearly 50%. Even after this, the Naira lost more than 20% of its value.

Oil later rose above $100/barrel and remained so for over 2 years, but there was no savings.

The past President left a Paltry $30bn in the reserves, with oil selling below $50/barrel.

Now no money to defend the economy or Naira, as trying to is tantamount to depleting your reserves. The reserves is simply going down because of calculated attempts by CBN to intervene in the FX market.

Oil sells below $50/barrel and terrorists bomb pipelines, so there is no means to grow the reserves.

As long as CBN keeps intervening in the FX market, the reserves wil keep dropping

U speak sense my man

buffalowings:



You think say we be mumu like you abi


Norway dey there that has over 900billion in foreign reserve

Yeyenatu country of 150millon get only 24billion dollars
and ii don't think Norway has upto a third of our population

GEJ was in the best place to have taken our reserve to over $100bn even far more. Cos what cud have make OBJ leave about $47bn and yar adua, about $65bn, what stopped GEJ from leaving $150bn. Dont forget there was oil boom in his adm

Originalsly:
Nigeria would've been in a worse state.....wayyy worse. GEJ was in charge when the price of crude was more than double than it ever was under Buhari. Yet... the reserves dropped big time under his watch... under his watch the value of the Naira kept diving until he left office. If he couldn't manage the economy... the reserves under favourable conditions common sense would should tell you he would've been a miserable failure under present conditions.
We are our biggest obstacle ... wayyy too many of us wear shades... party, tribal and religious shades..... in the dark.
...

was it GEJ dat threw nigeria into recession in 1984

MrKrap:
buari is nigeria's problem. why becos of his ancient economic policies. buari is d reason why d economy is in recession. a record he was able to maintain back to back.

Lol

KunkeAkinola:


Ohhhh. Dats true. If GEJ was in power, maybe oil wud still be selling for $100pb. . Maybe $1 wud be #120 by now. U dumb bro. We wud have been in deeper shii.. Do ur research well

was naira N460 wen GEJ handed ova power to buari was it GEJ dat told buari restrict foriegn exchange dat saw JP- morgan delist nigeria from their index (same index grouping dat gave investors d confidence to invest in nigeria during GEJ years as president) was it GEJ dat told buari to demarket nigeria scaring away foriegn investors was it GEJ dat told buari to slam $5 billion fine on MTN/restrict business dollar transaction dat saw foriegn companies repatrate their cash to d tune of $80 billion was it GEJ dat told buari to was 6 months to appoint his cabinet members was it GEJ dat told buari to send 2016 budget in december 2015

MrKrap:
was it GEJ dat threw nigeria into recession in 1984

Sorry o.....foolish me.... I thought we were talking about this 2016 crisis.

Originalsly:
Sorry o.....foolish me.... I thought we were talking about this 2016 crisis.

is buari not d current president in 2016, same man who broke d record to throwing nigeria into recession back to back wat does dat tells u of his economic credentials

Sibrah:
If Nigerians had left Jonathan in power by now there would be less than $2B there. Buhari, throug excellent management help slow down its depletion.

How do you know? Are you God? Nonsense. GEJ is no longer there, what's other excuses do you guys have Now?

Sibrah:
Lots of people who don't understand the meaning of this thread will just flow in to attack Buhari.
When Jonathan ruled the reserve was being depleted at a rate of $8B a year when oil sold for average of $80+pb, I wonder how Buhari was able to incur a decrease of just around same $8B in his 16 months with oil selling at average of less than $50pb.

Thats not true.

if that was true...how come jonathan left 30b in our treasury...does it mean he inherited $70 billion($8bx5yrs)?

dont forget jonathan was supplying oil marketers dollars at official rate and even reduced the price of fuel to 86 naira...


again, he defended the dollar all thru his tenure and it remained at 150 thereabout for 5 years...

under obasanjo...a barel was btw 40-50 dollars and we had $33 billion and paid our external debts...


so tell me how you can defend this mad economic management by buhari...

MrKrap:
is buari not d current president in 2016, same man who broke d record to throwing nigeria into recession back to back wat does dat tells u of his economic credentials

Bro.... I'm talking 2016 and about the present economic situation.... tell me how things could've been better under GEJ whose policies kept on draining the foreign reserves. Do you have a clue?