GavelSlam:


You must think you are talking to your village people.

If oil isn't platform on which the Nigerian economy stands why was Ngozi Okonjo-Iweala lamenting the state of affairs when the price of the barrel dipped from approximately 100 dollars to 70 ?

Why then did she make the comment that Nigerians should brace up for hard times?

hardywaltz:


God bless you broda
Some of these people think they can deceive everybody with their lies.

Jesusloveyou:
so you get sense like this.
I thought you have flat head like your fellow idiotic pigs of Biafra.

Derawiz:


How some people have sold their conscience for 30k per month still marvels me. Is this what BMC has been reduced to?? To a bunch of delusional urchins who feel that 30k per month is a big hit?

Derawiz:
I have found out that Nigerians are very difficult to please, they prefer to be flogged than pampered. As a matter of fact, the average Nigerian is so foolish, that if this administration should return things the way the met them when they assumed office, Nigerians would still applaud that as a political point.
You can imagine, someone took dollar exchange rate from 1$/180naira to 1$/400naira, and after about 8months of hardship, this administration struggled to bring it down to 1$/330 naira and again, the foolish Nigerians started applauding again. This administration is sincerely doing their best to bring us out of the dungeon PDP had kept us for the past 16yrs and only the foolish ones will buy the lies and deceit this criminal party PDP and its criminal members are now selling to Nigerians.PDP should take the backseat for now.They wasted the opportunity and trust Nigerians had in them and no matter the campaign of calumny will sway the support of patriotic Nigerians to their side.
Nigerians just love suffering, else how would some people still be campaigning for this administration, because of rice and wrappers? That would finish and wear out before 4 years elapse? Well what do I know? Nigerians learn the hard way

Okoroawusa:
I just came to read comments.

hardywaltz:

Using the Op's hypothesis
PDP met the exchange rate at N22/$ on May 29, 1999 but left it at N240/$ on May 29 2015.
Do the maths. 1090% devaluation
A bag of rice was less than N1,800 back in 1999.

We could continue all day comparing grapes Vs apples

But the simple fact remains that all our imports, exchange rate and economy are hinged on the price of crude and the quantity we pump out and sell.

2016 was a disasterous year coz crude was below $30/barrel and crude production was less than 1.2mbp every other item the op mentioned depends solely on those two variables.

hardywaltz:


Stop lying to urself
Our entire economy is solely dependent on oil export.
Our budget is based on the price of the crude and the quantity of crude we pump out and sell..
All 36 state Governments have their budget based on FAAC allocation which is based on sharing of proceeds from oil, even the VAT, Tax and custom duties are mainly oil related.

When the price of crude dropped at the international market our economy came crashing down like a pack of cards.

surgical:
The exchange rate increase was buhari's fault no matter how you look at it. for short fall in revenue he has more than compensated for it by increament and introduction of different taxes and savings from not paying subsidies, and borrowing, so money was not his problem but lack of creative ideas and his substandard team who are learning on the job.

surgical:
The exchange rate increase was buhari's fault no matter how you look at it. for short fall in revenue he has more than compensated for it by increament and introduction of different taxes and savings from not paying subsidies, and borrowing, so money was not his problem but lack of creative ideas and his substandard team who are learning on the job.

surgical:
some are not BMC, but brain washed ignorant individuals,who do not have the capacity to think, that's why you see them repeat the same argument over and over,like 16yrs damage, price of crude etc.they are just like the south African worshipers who were brain washed to be feeding on grass.

celwonder:




I shame for u....

ask urself dis question: was APC not aware of Nigeria's present state b4 dey went abt declaring dey can and will fix it all??

I did not vote APC in 2015, not because from a sincere heart I don't desire wat dey promised in governance but because I don't ever c how dey can deliver wen abt 80% of their top shots politicians were either past failures / thieves from ACN & PDP.

Bliv u me, not until APC vacates Aso Rock we won't know d level of looting / embezzlement dat is going on.

I don't trust / pity any Nigerian politician. I only pity d Nigerian masses who hardly come to understanding quickly.

Revolution is the way out!

Ovamboland:


You talk like a kid, even UAE awash with oil at 3.5 million barrels daily for 7 million people and Saudi Arabia selling 10 million barrels daily for it's 30 million population feel the pinch of the crude oil price drop such that fuel subsidy was removed for the first time in decades and art introducing VAT and income tax for the first time.

Only a kid who can't be bothered or understand where the next meal comes from will expect Nigeria selling 2 million barrels daily for it's 180 million people will not be affected by oil price drop. The kid cannot process the impact of attacks on oil pipeline cutting output to 1 million barrels in 2016, no he must get his three square meals. That the government structure depends on 90% of its revenue from oil is tales by moonlight to the kid.

surgical:
that's how you know them can't pass their message without insults ,very intolerant like their leader, very quick to do half comparism, the full details is that nations take decision according to their situations not copying and you see the difference in the impact on their citizens, you and the citizens of the country you mentioned do not have the same quality of life at the end of the day, so no result for your policy direction,so you just do copy and paste , no wonder your likes are the ones misleading buhari, no original ideas.

Business247:
In those days when PDP destroyed the economy for 16 years,

A bag of rice was N7500 and a litre of petrol was N87.

A dollar was N170.

A 'Bajaj' motorcycle was N82,000

A 10kg bag of Semovita was N1,100

A 10kg bag of Wheat meal was N700

The Lagos-Abuja transport fare was N2500

A 75ml of palm-oil was N70

A bottle of Coca cola was N60

A tin of Peak milk was N80

A pack of Ciprotab drug was N1100

Infact, Those guys destroyed the economy totally! Wicked people!!!

Thank God for our APC Messiahs that have come to revive the economy;

A bag of rice is now N16,000 and a litre of petrol is now N350.

A dollar is N368!!!

A 'Bajaj' motorcycle is now N280,000

A 10kg bag of Semovita is now N3000

A 10kg bag of Wheat meal is now N2800

The Lagos - Abuja fare is now N15,500

A 75ml of palm oil is now N400

A bottle of Coca cola drink is now N100

A tin of Peak milk is now N220

A pack of 'Ciprotab' drug is now N3200


Please say the truth...which government do you prefer and why?

Business247:
In those days when PDP destroyed the economy for 16 years,

A bag of rice was N7500 and a litre of petrol was N87.

A dollar was N170.

A 'Bajaj' motorcycle was N82,000

A 10kg bag of Semovita was N1,100

A 10kg bag of Wheat meal was N700

The Lagos-Abuja transport fare was N2500

A 75ml of palm-oil was N70

A bottle of Coca cola was N60

A tin of Peak milk was N80

A pack of Ciprotab drug was N1100

Infact, Those guys destroyed the economy totally! Wicked people!!!

Thank God for our APC Messiahs that have come to revive the economy;

A bag of rice is now N16,000 and a litre of petrol is now N350.

A dollar is N368!!!

A 'Bajaj' motorcycle is now N280,000

A 10kg bag of Semovita is now N3000

A 10kg bag of Wheat meal is now N2800

The Lagos - Abuja fare is now N15,500

A 75ml of palm oil is now N400

A bottle of Coca cola drink is now N100

A tin of Peak milk is now N220

A pack of 'Ciprotab' drug is now N3200


Please say the truth...which government do you prefer and why?

hardywaltz:


Stop lying to urself
Our entire economy is solely dependent on oil export.
Our budget is based on the price of the crude and the quantity of crude we pump out and sell..
All 36 state Governments have their budget based on FAAC allocation which is based on sharing of proceeds from oil, even the VAT, Tax and custom duties are mainly oil related.

When the price of crude dropped at the international market our economy came crashing down like a pack of cards.

GavelSlam:


You must think you are talking to your village people.

If oil isn't the platform on which the Nigerian economy stands, why was Ngozi Okonjo-Iweala lamenting the state of affairs when the price of the barrel dipped from approximately 100 dollars to 70 ?

Why then did she make the comment that Nigerians should brace up for hard times?

byemx06:
Occasionally, someone takes a minute to put a great piece together and I can’t help but share
Now that PMB has failed....
Dear PMB,
Come May 29 2019,...
Give them back their corruption,
Give them back their terrorism,
Give them back their incarcerated thieving military Generals (Badeh et al),
Give them back their Tompolos,
Give them back their Dokubos,
Give them back their Shekaus and his
videos,
Give them back their ghost workers, Discontinue the TSA,
Make mere stealing NOT corruption,
Give them back their senseless bombings
and go home to Daura to rest.
Let's see how an MMM economic model
will work for the nation of 'ungrateful nigerians' - where everyone is an expert
and every crooked person is a Messiah.
This isn't a campaign piece, but a home
truth about who we're.
Give us back our docile military at the
mercy of insurgents.
Return us our state of mockery in the
commity of nation.
Reopen the boarder to all sorts of
importations including firewood and ebola.
Give us back Customs that remit national
income into private pockets.
Let subsidy scam return and take over.
Make FG perpetually indebted to oil
marketers in the name of subsidy. Let ministers tax millions of unemployed
youths for job they wont get like
immigration as against your 200000
employment that no one paid a kobo for.
Free the corrupt judges and let justice
remain for the highest bidders. IS *THIS WHAT NIGERIANS WANT*



while people are always blaming circumstances for their lives "the people who get on in this world are people who get up and look for the circumstances they want, if they can find dem the make them

stop blaming external factors for your life, lazy people will just sit down expecting things to come their way.

learn to expect the unexpected

Jesusloveyou:
Nonsense.
How many rice farm did your ineffectual buffoon cultivated in 6yrs.
How much did he save in federal reserve, in TSA, in excess crude acc, in SWF etc.
Paying pension and salaries at when due.
So many reason things are expensive this days.
Price of crude oil which affects the price of dollars which also affects the price of imported goods which in turn increase custom revenue generated to federation acc

Ovamboland:


You know all these and still voted PDP in 2015 and will probably Atikulate in 2019 so they can resume digging Nigeria into a hole

hardywaltz:
Ur analysis is incomplete
All u mentioned are import/consumption item why not also include the only commodity we export to pay for all u mentioned.
Include the price of crude sold by the PDP government and the price of crude sold now.
That should help u in ur analysis

Ps: note dollar was N240/$ in May 2015

PapaBrowne:



Ok. Do we also import Garri ?? Abi the sand they use in planting Garri eats dollar?
The price of Garri literally tripled.


As per oil price, Yar adua experienced the worse oil price crash but we didn’t suffer a recession .
Obasanjo met oil at $15 in 1999 and it stayed so and only peaked at $34 in 2003. He met reserves of $3 billion. He didn’t complain about abdulsalami or Abacha. He simply went to work and built the economy experiencing steady growth back to back.

If in 3 years Buhari supporters are still making reference to the last administration, then that means he they’ve accepted that thier principal is incompetent to deal with the problems of Nigeria.

surgical:
The exchange rate increase was buhari's fault no matter how you look at it. for short fall in revenue he has more than compensated for it by increament and introduction of different taxes and savings from not paying subsidies, and borrowing, so money was not his problem but lack of creative ideas and his substandard team who are learning on the job.

hardywaltz:


Yaradua inherited the highest ever External Reserves ($50+ billion) and a health savings in Excess Crude Account.
Prof Charles Soludo as CBN did what every CBN Governor after him did "backing up the Naira and depleting the reserves".

So ideally we should be thanking Obj for saving us from the first recession.

Jonathan inherited about $45 billion in External reserves and billions in Excess Crude Account however when he was handing over the External reserves had withered down to $28 billion despite GEJ having record crude oil prices throu out his regime.

Today our external reserves is standing close to $40 billion which is why the Naira exchange has been stable.

The price of Garri has also decreased drastically if u tell the truth.

hardywaltz:


Yaradua inherited the highest ever External Reserves ($50+ billion) and a health savings in Excess Crude Account.
Prof Charles Soludo as CBN did what every CBN Governor after him did "backing up the Naira and depleting the reserves".

So ideally we should be thanking Obj for saving us from the first recession.

Jonathan inherited about $45 billion in External reserves and billions in Excess Crude Account however when he was handing over the External reserves had withered down to $28 billion despite GEJ having record crude oil prices throu out his regime.

Today our external reserves is standing close to $40 billion which is why the Naira exchange has been stable.

The price of Garri has also decreased drastically if u tell the truth.

BLACKdagger:
No need for the analyses .
Only a stupid fool will say pdp era wasn't better.

Even tho it wasnt "heaven" then...