everozone:
Nig. economy was robust wen PDP was in charge.PMB's policies brought d mess

Nigerian economy was wetin? Or we had oil boom and excess crude account dat was squandered because one tactical man wanted to have a 2nd term at all costs?

He was in Sokoto and people were goading him to come back... Hahaha

Make e show for d next election abeg. Na so dey take deceive Napoleon! Complete finishing. Happy Sunday NL

OAUTemitayo:
How did you come to conclusion that Nigeria had a good Economy under PDP?
An economy importing toothpicks is robust?
You people need to reset your mentality

honestly, he needs to update his brain.

sakius4real:
Aketi leading all d way, but how APC dey win election 4 recession period.

u ve forgotten that all the farmers luv Buhari

everozone:
Nig. economy was robust wen PDP was in charge.PMB's policies brought d mess

How robust is the economy under PDP?

OAUTemitayo:
I support APC against PDP and I will continue to do so.
My support for Oke is because I felt a message need to be sent out to Buhari that what happened in Ondo is not justified.
And I will always stand for what I perceive as Yoruba interest above every other things.

So Aketi winning yesterday's election is not in Yoruba interest? I also want Oke to win but it seems Ondo people prefer PMB to TINUBU.

INEC has gone on recess till 11am

Kyase:

Hmm, don't have time to write epistle for you, but summary, PDP economic plans landed us into this mess.....
Thanks for kemi if not ehn.......

How did PDP economic plans land us here?

Pavarottii:

How did PDP economic plans land us here?

ogod why na Bros......
Open a thread for that..... Then we discuss

Pavarottii:

Please intelligently tell us why dere is recession.

Thank you.

sakius4real:

I wanna know too

Let me try and explain to you why there's recession. First, here are certain facts you need to know.

1. Nigeria is an import dependent country. We import anything importable because we most times don't have the capacity or capability to produce them. To import goods or purchase anything from other countries we need DOLLARS. This problem started since 1986 and has been getting worse.

2. Nigeria is a mono product economy. In other words, we depend on export of one main product to get DOLLARS. That product is crude oil. Over 70% of Government revenue comes from sale of crude oil. Without revenue from crude oil, the government has no choice but to borrow to fund it's budget.

With those two points in mind, here's why we are in recession.

Oil price crashed in 2015 from over $100 per barrel to less than $40 per barrel.

This crash was because there was supply glut of crude oil globally. Countries were producing too much crude oil and others started using alternate source of energy.

With the fall in crude oil price, the amount of DOLLARS Nigeria could get from sale of crude oil also crashed.

This problem was further compounded by the activities of some disgruntled sponsored group who started blowing up our crude oil export pipelines and facilities in the hope of crashing the economy.

So Nigeria was not getting enough revenue from crude oil sales because the price crashed and the little we were supposed to even get was further cut off by those blowing up oil facilities.

Remember that it is the DOLLARS we get from crude oil sales that we also use to IMPORT all the junks we need from other countries. This DOLLARS is held by CBN and CBN gives it to commercial banks to sell to ordinary Nigerians to import what they want or pay for services abroad.

The crash in government revenue (DOLLARS) meant that government could no longer support the importing needs of Nigerians. Also, there were lots of loopholes in our land borders through which corrupt public officials were enriching themselves and putting the health of Nigerians at risk. Most of the revenue they raised never got to government. Furthermore, there was need to encourage LOCAL production of the things we were OFTEN IMPORTING. With all these, the government decided to restrict the importation of some goods THROUGH LAND BORDERS.

Please note that the primary reason for the above is because of the CRASH in government revenue or Dollars.

Even with the scarcity of dollar, our desire for foreign goods has not abaited. Since the dollar is scarce, the price relative to Naira will rise. People who still manage to get the dollars at the high price and use it to import goods into the country will have to push the cost to the consumers. That is why you see that prices of goods have jumped to the roof.

The situation has been made worse by greedy Nigerian sellers who want to profit and make quick money from others. They have all joined unions were they agree to inflate prices of goods and services. With a simple call, they all agree and fix price at a certain amount. The result is us being forced to buy them at the artificial high price.

In addition, just before the previous government handed over power to the current one, a lot of politicians stole as much as they could from government purse. They didn't steal it in Naira. They stole it in DOLLARS. Some of them were able to move their loots abroad, some his the loots in their homes and some left it in Nigerian banks. Without this money with government or in circulation, the DOLLAR SCARCITY HAS BEEN MADE WORSE and so has its attendant consequences.

So some of the above is why we are in recession. The problems in this country is much and will not contain 100 books if we want to write about it. But I'm sure you will understand the whole picture if you read this epistle again and again.

If you have any questions, I'll be happy to answer them.

Thanks.

My prediction

once APC takes over SW including Ekiti in 2018, igbos will abandon their biafra agitation or presidency dream and decamp fully to APC for soft landing

They will make Nigeria a one party state and cause the final death of PDP

OAUTemitayo:
How did you come to conclusion that Nigeria had a good Economy under PDP?
An economy importing toothpicks is robust?
You people need to reset your mentality

I dey import toothpicks no stop you from manufacturing yours....wtf

OAUTemitayo:
How did you come to conclusion that Nigeria had a good Economy under PDP?
An economy importing toothpicks is robust?
You people need to reset your mentality

I dey import toothpicks no stop you from manufacturing yours.

4dor:


Simple! There was a time you had excess, your business was booming, you had more than you needed, unfortunately you didn't save during this period, so now that business is no longer booming you have nothing to fall on.

GEJ left a reserve of 30billion dollars.
Sovereign Wealth fund 1.2 billion dollars.
Excess. Crude account 2billion dollars.
LnG paid a debt of 4billion dolllars just as buhari entered.

Now this is about 36billlion dollars. And which he. Could av saved more. But ur APC governor took him to court to share money Cos. They wanted to sponsor buhari's election.

Now this is done by With fuel hovering around. 60dollars to 118 dollars per barrel.

Now buhari has sold fuel averagely at 40dollars per barrel. Pls wat has he done wiv d sales.


Now to d economy our GDP was 519billion dollars and oil contributed only 15% to it; wiv manufacturing, automobile, banking, entertainment, mining etc making up for the remaining percentage; now our GDP is around 270billion dollars; DO U STILL BLAME OIL SALES?

They have come with their manipulation and rigging. APC na wa o.

Weldone agboola for delivering ese odo this a victory well deserved

Pavarottii:

GEJ left a reserve of 30billion dollars.
Sovereign Wealth fund 1.2 billion dollars.
Excess. Crude account 2billion dollars.
LnG paid a debt of 4billion dolllars just as buhari entered.

Now this is about 36billlion dollars. And which he. Could av saved more. But ur APC governor took him to court to share money Cos. They wanted to sponsor buhari's election.

Now this is done by With fuel hovering around. 60dollars to 118 dollars per barrel.

Now buhari has sold fuel averagely at 40dollars per barrel. Pls wat has he done wiv d sales.


Now to d economy our GDP was 519billion dollars and oil contributed only 15% to it;

Now answer this, how much did gej met in ECA, how much did he met in our foreign reserve?

olabukola:
So Aketi winning yesterday's election is not in Yoruba interest? I also want Oke to win but it seems Ondo people prefer PMB to TINUBU.

Oke is never TINUBU Candidate but Olusegun Abraham

Kyase:

Hmm, don't have time to write epistle for you, but summary, PDP economic plans landed us into this mess.....
Thanks for kemi if not ehn.......

for this one mind now he don talk better thing

This is a good news for the Almajiris. Ipods how market? Better fall in to the slavery now. Awusa Kwenu

Martins301:




Let me try and explain to you why there's recession. First, here are certain facts you need to know.

1. Nigeria is an import dependent country. We import anything importable because we most times don't have the capacity or capability to produce them. To import goods or purchase anything from other countries we need DOLLARS. This problem started since 1986 and has been getting worse.

2. Nigeria is a mono product economy. In other words, we depend on export of one main product to get DOLLARS. That product is crude oil. Over 70% of Government revenue comes from sale of crude oil. Without revenue from crude oil, the government has no choice but to borrow to fund it's budget.

With those two points in mind, here's why we are in recession.

Oil price crashed in 2015 from over $100 per barrel to less than $40 per barrel.

This crash was because there was supply glut of crude oil globally. Countries were producing too much crude oil and others started using alternate source of energy.

With the fall in crude oil price, the amount of DOLLARS Nigeria could get from sale of crude oil also crashed.

This problem was further compounded by the activities of some disgruntled sponsored group who started blowing up our crude oil export pipelines and facilities in the hope of crashing the economy.

So Nigeria was not getting enough revenue from crude oil sales because the price crashed and the little we were supposed to even get was further cut off by those blowing up oil facilities.

Remember that it is the DOLLARS we get from crude oil sales that we also use to IMPORT all the junks we need from other countries. This DOLLARS is held by CBN and CBN gives it to commercial banks to sell to ordinary Nigerians to import what they want or pay for services abroad.

The crash in government revenue (DOLLARS) meant that government could no longer support the importing needs of Nigerians. Also, there were lots of loopholes in our land borders through which corrupt public officials were enriching themselves and putting the health of Nigerians at risk. Most of the revenue they raised never got to government. Furthermore, there was need to encourage LOCAL production of the things we were OFTEN IMPORTING. With all these, the government decided to restrict the importation of some goods THROUGH LAND BORDERS.

Please note that the primary reason for the above is because of the CRASH in government revenue or Dollars.

Even with the scarcity of dollar, our desire for foreign goods has not abaited. Since the dollar is scarce, the price relative to Naira will rise. People who still manage to get the dollars at the high price and use it to import goods into the country will have to push the cost to the consumers. That is why you see that prices of goods have jumped to the roof.

The situation has been made worse by greedy Nigerian sellers who want to profit and make quick money from others. They have all joined unions were they agree to inflate prices of goods and services. With a simple call, they all agree and fix price at a certain amount. The result is us being forced to buy them at the artificial high price.

In addition, just before the previous government handed over power to the current one, a lot of politicians stole as much as they could from government purse. They didn't steal it in Naira. They stole it in DOLLARS. Some of them were able to move their loots abroad, some his the loots in their homes and some left it in Nigerian banks. Without this money with government or in circulation, the DOLLAR SCARCITY HAS BEEN MADE WORSE and so has its attendant consequences.

So some of the above is why we are in recession. The problems in this country is much and will not contain 100 books if we want to write about it. But I'm sure you will understand the whole picture if you read this epistle again and again.

If you have any questions, I'll be happy to answer them.

Thanks.

GEJ left a reserve of 30billion dollars.
Sovereign Wealth fund 1.2 billion dollars.
Excess. Crude account 2billion dollars.
LnG paid a debt of 4billion dolllars just as buhari entered.

Now this is about 36billlion dollars. And which he. Could av saved more. But ur APC governor took him to court to share money Cos. They wanted to sponsor buhari's election.

Now this is done by With fuel hovering around. 60dollars to 118 dollars per barrel.

Now buhari has sold fuel averagely at 40dollars per barrel. Pls wat has he done wiv d sales.


Now to d economy our GDP was 519billion dollars and oil contributed only 15% to it; wiv manufacturing, automobile, banking, entertainment, mining etc making up for the remaining percentage; now our GDP is around 270billion dollars; DO U STILL BLAME OIL SALES?

PDP bye bye in south west. Fayose how pomo market Na.

qleap2all:

Oke is never TINUBU Candidate but Olusegun Abraham

Yes but Tinubu switched to One when he moved to AD after foolish Oyegun played the fast one on Ondo people.

Tinubu did not want Aketi to emerge as the governorship candidate. Tinubu asked chairman Oyegun to cancel the Ondo primaries for his own selfish agenda. Tinubu publicly threw his toys out of the pram when he didn't get his way. Tinubu did not campaign at all for Aketi. Tinubu tacitly supported Olusola Oke.

Despite all this, Aketi emerged as the governor, beating the incumbent party. Tinubu just took another loss.

Say No to Godfathers!

[quote author=sakius4real post=51410270]Aketi leading all d way, but how APC dey win election 4 recession period. [f/quote]

I believe votes are cast for personalities not for parties . I think if a credible person is fielded, I will vote for apc come 2019

I am particularly glad we have some reasonable people talking sense in this forum.
APC or Buhari's administration did not put Nigeria in this mess.
We will still suffer more before things start to get better gradually. It is just unfortunate that the masses are paying for what the leaders did.

Pavarottii:

Please intelligently tell us why dere is recession.

Thank you.

Modified;
GEJ left a reserve of 30billion dollars.
Sovereign Wealth fund 1.2 billion dollars.
Excess. Crude account 2billion dollars.
LnG paid a debt of 4billion dolllars just as buhari entered.

Now this is about 36billlion dollars. And which he. Could av saved more. But ur APC governor took him to court to share money Cos. They wanted to sponsor buhari's election.

Now this is done by With fuel hovering around. 60dollars to 118 dollars per barrel.

Now buhari has sold fuel averagely at 40dollars per barrel. Pls wat has he done wiv d sales.


Now to d economy our GDP was 519billion dollars and oil contributed only 15% to it; wiv manufacturing, automobile, banking, entertainment, mining etc making up for the remaining percentage; now our GDP is around 270billion dollars; DO U STILL BLAME OIL SALES?

mismanagement of the past leaders. Simple

Martins301:




Let me try and explain to you why there's recession. First, here are certain facts you need to know.

1. Nigeria is an import dependent country. We import anything importable because we most times don't have the capacity or capability to produce them. To import goods or purchase anything from other countries we need DOLLARS. This problem started since 1986 and has been getting worse.

2. Nigeria is a mono product economy. In other words, we depend on export of one main product to get DOLLARS. That product is crude oil. Over 70% of Government revenue comes from sale of crude oil. Without revenue from crude oil, the government has no choice but to borrow to fund it's budget.

With those two points in mind, here's why we are in recession.

Oil price crashed in 2015 from over $100 per barrel to less than $40 per barrel.

This crash was because there was supply glut of crude oil globally. Countries were producing too much crude oil and others started using alternate source of energy.

With the fall in crude oil price, the amount of DOLLARS Nigeria could get from sale of crude oil also crashed.

This problem was further compounded by the activities of some disgruntled sponsored group who started blowing up our crude oil export pipelines and facilities in the hope of crashing the economy.

So Nigeria was not getting enough revenue from crude oil sales because the price crashed and the little we were supposed to even get was further cut off by those blowing up oil facilities.

Remember that it is the DOLLARS we get from crude oil sales that we also use to IMPORT all the junks we need from other countries. This DOLLARS is held by CBN and CBN gives it to commercial banks to sell to ordinary Nigerians to import what they want or pay for services abroad.

The crash in government revenue (DOLLARS) meant that government could no longer support the importing needs of Nigerians. Also, there were lots of loopholes in our land borders through which corrupt public officials were enriching themselves and putting the health of Nigerians at risk. Most of the revenue they raised never got to government. Furthermore, there was need to encourage LOCAL production of the things we were OFTEN IMPORTING. With all these, the government decided to restrict the importation of some goods THROUGH LAND BORDERS.

Please note that the primary reason for the above is because of the CRASH in government revenue or Dollars.

Even with the scarcity of dollar, our desire for foreign goods has not abaited. Since the dollar is scarce, the price relative to Naira will rise. People who still manage to get the dollars at the high price and use it to import goods into the country will have to push the cost to the consumers. That is why you see that prices of goods have jumped to the roof.

The situation has been made worse by greedy Nigerian sellers who want to profit and make quick money from others. They have all joined unions were they agree to inflate prices of goods and services. With a simple call, they all agree and fix price at a certain amount. The result is us being forced to buy them at the artificial high price.

In addition, just before the previous government handed over power to the current one, a lot of politicians stole as much as they could from government purse. They didn't steal it in Naira. They stole it in DOLLARS. Some of them were able to move their loots abroad, some his the loots in their homes and some left it in Nigerian banks. Without this money with government or in circulation, the DOLLAR SCARCITY HAS BEEN MADE WORSE and so has its attendant consequences.

So some of the above is why we are in recession. The problems in this country is much and will not contain 100 books if we want to write about it. But I'm sure you will understand the whole picture if you read this epistle again and again.

If you have any questions, I'll be happy to answer them.

Thanks.

Bros, you have really wasted your precious time to put up this wonderful analysis for the wailers.

Trust they will still never understand you, because they have been programmed to wail

You people should be disappointed
this was what happened

https://www.youtube.com/watch?v=U7U3fIsT4Tw&t=53s

Pavarottii:

Please intelligently tell us why dere is recession.

Thank you.

Modified;
GEJ left a reserve of 30billion dollars.
Sovereign Wealth fund 1.2 billion dollars.
Excess. Crude account 2billion dollars.
LnG paid a debt of 4billion dolllars just as buhari entered.

Now this is about 36billlion dollars. And which he. Could av saved more. But ur APC governor took him to court to share money Cos. They wanted to sponsor buhari's election.

Now this is done by With fuel hovering around. 60dollars to 118 dollars per barrel.

Now buhari has sold fuel averagely at 40dollars per barrel. Pls wat has he done wiv d sales.


Now to d economy our GDP was 519billion dollars and oil contributed only 15% to it; wiv manufacturing, automobile, banking, entertainment, mining etc making up for the remaining percentage; now our GDP is around 270billion dollars; DO U STILL BLAME OIL SALES?

http://www.pmnewsnigeria.com/2015/05/06/fg-borrows-n473bn-to-pay-salaries-okonjo-iweala/

This madam has answered your question

Pavarottii:


GEJ left a reserve of 30billion dollars.
Sovereign Wealth fund 1.2 billion dollars.
Excess. Crude account 2billion dollars.
LnG paid a debt of 4billion dolllars just as buhari entered.

Now this is about 36billlion dollars. And which he. Could av saved more. But ur APC governor took him to court to share money Cos. They wanted to sponsor buhari's election.

Now this is done by With fuel hovering around. 60dollars to 118 dollars per barrel.

Now buhari has sold fuel averagely at 40dollars per barrel. Pls wat has he done wiv d sales.


Now to d economy our GDP was 519billion dollars and oil contributed only 15% to it; wiv manufacturing, automobile, banking, entertainment, mining etc making up for the remaining percentage; now our GDP is around 270billion dollars; DO U STILL BLAME OIL SALES?

I don't have the patience to argue with stupid people. I am certain you don't know how an economy works or how government works. If you have dumb questions please direct them at Google.

Kyase:

Hmm, don't have time to write epistle for you, but summary, PDP economic plans landed us into this mess.....
Thanks for kemi if not ehn.......

your have real problems
blaming PDP won't stop the recession (that didn't exist when PDP was in power)

APC plotting another massive rigging after Edo escapade. Why was the total number of vote cast in two LGs couldn't correspond with the total number of registered voters and the incompetent man was allowed to declare the nonsense result. APC wants to rule at all cost at the expense of voter's choice. Ndi west if una like allow urself to be enslaved by deceitful and greedy political party.