At the current rate, if they relax Western union and Moneygram payout to be in foreign currency, we will flood Nigeria with foreign currencies. This singular act will reduce pressure from CBN because all their interventions will never work (ask Russia).

Otherwise, goodluck!

The people travelling home for Xmas will benefit very well. This is the best time to buy up the whole place.
\

InvertedHammer:
At the current rate, if they relax Western union and Moneygram payout to be in foreign currency, we will flood Nigeria with foreign currencies. This singular act will reduce pressure from CBN because all their interventions will never work (ask Russia).

Otherwise, goodluck!

The people travelling home for Xmas will benefit very well. This is the best time to buy up the whole place.
\

bros I don't think so. No serious country allows transactions with wu and mg to be paid out in dollars. Where will the banks get the dollars to pay receivers ?isn't it from cbn? The problem now is nigeria foreign exchange reserves is dwindling rapidly. The russian case is different from nigeria case. Russia is under us and eu sanctions which has made it difficult for russia to access badly needed funds but nigeria isn't under sanctions. The problem nigeria is facing is as a result of reskless spending.

onatisi:
bros I don't think so. No serious country allows transactions with wu and mg to be paid out in dollars. Where will the banks get the dollars to pay receivers ?isn't it from cbn? The problem now is nigeria foreign exchange reserves is dwindling rapidly. The russian case is different from nigeria case. Russia is under us and eu sanctions which has made it difficult for russia to access badly needed funds but nigeria isn't under sanctions. The problem nigeria is facing is as a result of reskless spending.

/
You are right.

I was thinking of temporary fix without thinking about the other side of the divide. Thanks for pointing that out.

The US dollar index is very high now which means every other currency is currently losing value against USD. CBN can just let the market reset itself or keep flushing money down the drain via intervention.
It is a double whammy. Low crude price and diminished naira value are sucker punches to Nigeria.

This is going to be painful when the tickle down effects start manifesting.

No more time for forming. If you are a salary earner, cut your expenses now to the barest minimum because it is going to get uglier from next year.

He who fails to plan, plans to fail.
/

temitemi1:
We survived economy meltdown, so we will survive this again. God bless Nigeria!!!

see your mouth, when obasanjo created the ECR account to make savings to annul the effect of 2004 drop in crude price with the counsel of Prof. Soludo, did you appreciate it?
Now that you have a nematode in Aso rock feeding on all the reserves that naira is now at a free fall you want to liken both scenarios?
I don't blame most of you shaa, only if you guys know how badly Jonathan has managed this economy, you will weep for Africa.
Jonathan 2077 won't you say?

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

Only if your raw materials are locally sourced and your dumb president will give you locally generated electricity,
or you want to run your company on imported Diesel?

donmalcolm21:
If you are reading this, you shall nott experience job losses tnext year.

There needs to be a tight fiscal Policy for this madness to end, a leader with balls need to come on board, there must be arrest of those who stole our reserve, before God will listen to us.

InvertedHammer:

/
You are right.

I was thinking of temporary fix without thinking about the other side of the divide. Thanks for pointing that out.

The US dollar index is very high now which means every other currency is currently losing value against USD. CBN can just let the market reset itself or keep flushing money down the drain via intervention.
It is a double whammy. Low crude price and diminished naira value are sucker punches to Nigeria.

This is going to be painful when the tickle down effects start manifesting.

No more time for forming. If you are a salary earner, cut your expenses now to the barest minimum because it is going to get uglier from next year.

He who fails to plan, plans to fail.
/

even the ghana cedis is exchanging for 3.50ghc to 1dollar which means it will likely exchange for 4ghc at the parallel market. I think the fg should start putting in place measures to cushion the effect of this crisis . A reduction in the cost of fuel won't be a bad idea at this time

FrankC3:
For me, this is the opportunity for us to allow the naira assume it's actual value in the market. The CBN, Finance Ministry and the National Planning office know exactly what is going on. I dont think naira is being devalued, its value has always been falsely maintained by squandering our foreign reserve. It is time to take off the protectionist glove and let the naira gain value on the merits of improved production, employment generation and real economic activity not on the back of foreign reserve, afterall Nigerians are not happy with debt. We can't eat our cake and have it.

It takes ball to do what is happening now in an election period. Dollars will be injected early next year to firm it a little but we should fold our sleeves to build on a solid foundations of agriculture, manufacturing and services that earn foreign exchange.

We have not even exploited oil fully and you are talking of agriculture, The truth is this, even if you want to diversify, investments must be made, how is it gonna be possible when your reserves have been stolen by the thieves in Aso rock?

Madueke is proposing a DSO for our gas in her almighty PIB, where will the diversification come from in a DSO model?
Before you talk of pumping fresh funds revamping agriculture, you need to maximise oil that we have sunk huge investments in already.
Look at how ExxonMobil made sharp profits amidst fall in crude prices, they quickly turned to retailing their refined crude than selling it at lower prices as raw crude.
Where is Nigerian refining capacity? because by now we should be exporting finished products and by products in the whole West Africa and local markets, a promise Jonathan could not keep in 2012,
shame on our leaders, Shame on Nigerians who have refused to reason beyond their stomach infrastructure.

Hunger will send a strong message come next year, when is the Govt planning to owe salaries?

Elcapo:
#‎ Nigeria‬ is really
getting interesting..
Fellow compatriots, we
need not shout
nor fight ourselves.
President Goodluck Johnathan is a good man as a person,his simplicity and
gentlemanness is
second to none.
*He has given us his very BEST over the last 6 years. I mean,what else are we asking for?
*He has granted
Alameisiya 'STATE
PARDON' and my guy is now running for Senate.
*He allowed Fayoose to distrupt a court
session and beat up a judge, while he walks freely. I wonder if Nigeria is sane.
*He locked up the
house of rep from the entrance of
the CONSTITUTIONAL
speaker of that
house.
*7 law makers
impeached a speaker in Ekiti in a house of about
26 men, and
nothing happened.
*16 was suddenly
greater than 19 in
base 10, just to cancel the one-term agreement he signed with the NIGERIA Governors' Forum and all Nigerians in
2011.
*Subsidy has been removed and the standards in our hospitals have reduced with time.
*$20 billion is missing and minister of
Petroleum eats and dines with the
prexy.
*Another BIGGER
& BOLDER subsidy is scheduled for
1st of June,2015 and you may have
to sell your laptop charger before
you can buy fuel
to charge that same laptop!!!
* Earlier this year, over 22 innocent
Nigerians were killed and injured in the job scam
organized by the
Nigerian Immigration
Service(NIS) . The
Minister of Interior, Abba Moro,told us the job interview was "simply mismanaged" and he has retained his office and even with extra luggage.
*1 Naira used to be equal $1 to 1.4 under ‪#‎ GMB‬ but now it's #194 to just $1, the worst ever in our history.
* Madam Gele, Ngozi Okonjo, just told us we need an extra $5billion, through debts of course, so that our economy will not collapse like
Humpty-Dumpty.
*While Benue State University was on an unending internal
strike killing the
future of poor
Nigerians, Senator
DAVID MARK (son of the soil) built his own PRIVATE
UNIVERSITY, of course with tax payers' money, and my gentle
nice president followed him to launch the
school shamelessly.
*He has spent all
money in the treasury and even had to BORROW an extra $1billion but # BokoHaram
keeps getting
more equipped than our military.
*Over 200 girls are missing, over
15,000 killed by
‪#‎ BokoHaram‬, over 6 million displaced from
their homes and
uncountable injured beyond repairs yet my president went to a meeting in
‪#‎ KENYA‬with 7
different PRIVATE
JETS..
*clears throat...
* # PHCN is giving their loyal customers
GENERATORS as xmas gifts for paying their
‪#‎ electricity‬bills on time.....
Goodluck Jonathan
Jesus °ƒ Otuoke ‪#‎ TransformingNigeria‬

Cant pay lecturers, yet approve the extablishment of 7 new universties.
Could not complete east west road after 6yrs in power
Destroyed Efcc and publicly said stealing is not corruption.

bushdoc9919:
Oil overdependency caused this.

And yet....Nigerians love their oil.

Love it soo much that they fight tribal wars over it.

Now, our economy is in a free fall....but what do we see

Northerners and Southerners fighting over who owns the oil....instead of developing industries.

Time we left oil....and became industrialized.

Oil is a CURSE!

By the time Obasanjo handed over power to Shagari's civilian administration in October 1979, Nigeria's Dutch disease had reached a malignant stage. Buoyed by the significant increase in oil prices in 1979-82 (from $17.73 in 1979 to $28.64 in 1980, $32.51 in 1981 and $32.38 in 1982), the first three years of the Shagari's administration [b]was characterized by profligate consumption, excessive importation and pervasive corruption. Like the two preceding regimes, the Shagari administration failed to take adequate steps to arrest the burgeoning Dutch disease. In fact, the naira further appreciated from N0.5957/US$ in 1979 to N0.5464/US$ in 1980 before it started depreciating gradually (under mounting economic difficulties) to N0.7241/US$ in 1983 but with an inflation rate of 23.2% as against an inflation rate of less than 5% for Nigeria's major trading partners. With the imposition of OPEC quota, Nigeria's oil production declined from about 2mb/d in 1980 to 1.4mb/d in 1981, 1.3mb/d in 1982 and 1.2mb/d in 1983. Despite these restrictions, the price of crude oil declined from $32.38/b in 1982 to $29.04/b in 1983, thus leading to a significant decline in government revenue and export earnings. The pervasive corruption, poverty, decay of economic and social services and poor economic situation led to the overthrow of the Shagari government by the Buhari/Idiagbon military regime(1984/85). The Buhari/Idiagbon regime came as a reformist autocracy but they failed to address the Dutch disease syndrome. Their immediate focus was to wage a "war" against indiscipline and corruption. However, the price crude oil further declined from $29.04 in 1983 to $28.20 in 1984 and $27.01 in 1985 and this worsened the economic situation. [/b]

From: Managing the Dutch Disease in Nigeria.

Nigeria does not have the capacity to produce 2mbbls of crude in 1980, quit f00ling around.

bushdoc9919:


She has no choice....we need the oil price to be $126 per barrel to meet financial obligations....but right now it is below $60..and falling (inspite of what the Saudi Minister of Petroleum would have you believe).So, the taxes have to go up...or else there will be no kudi(and while I think the National Assembly needs its money supply reduced....it still may not help much.)

Oh! shut up

tuborme:
Buhari will stabilise the oil price when he becomes president while Rochas will help us exchange 1dollar to 1 naira. Economic goofs!

Under this government, we import less cars and less food and some people are yet to see the diversification of the economy. What is happening to the naira now is called speculation and it is affecting all high population oil expoting countries. A weaker naira is very good for the economy in the sense that it will spur local manufacturing and decrease import why increasing export.

Removing fuel subsidy will discourage corruption in the sector and encourage importers of refined petroleum products to setup refineries locally; by doing this, all the forex used in the importation of refined fuel will be saved.

The reality is that the people of Nigeria fought the only government that had the courage to usher in this sustainable development. We do not want to make sacrifices to gain our future.

Subsidies should be directed to encourage local production and not importation. The orient refinery in Anambra is not producing today largely because there is no profit to be made in a highly subsidised market. Nigerians own refineries abroad because there is little or no profit to be made in the nigerian market.

voodoo economics as usual. Are you cursed with dumbness?

jpphilips:


Oh! shut up

It is cold reality.....we are oil dependent....and until we get rid of that dependency on oil....when the price goeth down...the taxes goeth up.

Sad, but true.

That's why we have to become an industrial nation, don't you think?

dridowu:
If allow to continue am so sure before he end his teunre in 2019 by then $1 will equal =N=500-800.
So sad

hahahahaha......u wicked o o

Leebeedo:
It's obvious that you APC peeps don't even know what's happening in the world oil and gas sector. You guys are just unnecessarily lousy and that's why your so called proclaimed saviour said he would make sure the prize of oil is stabilized and that's to tell you that he is empty headed cos he didn't see diversification as the first and needed action . He probably thinks the price of oil could be manipulated like the price of cattle or fura denunu.
For your information, more diversified economies such as Russia are even experiencing worse conditions. The supply of oil in the world market is high thereby forcing price to plummet and this is really affecting our foreign exchange earning & foreign reserve since Nigeria is a monocultural economy.
Now tell me, is the president the cause of the fall in the price of oil in the world market?
Was our economy multicultural before this present dispensation?
The cause of this problem is the lazy nature of Nigerians. Other regions don't contribute to national earnings because of earnings from oil and gas. I live in Nasarawa and the state is rich in narural resources of all sort but the state government is just idle doing nothing to harness these opportunities, they wait for monthly allocation from the centre........ I really pity Nigeria and Nigerians

Please try to be selling your lies with facts.
Russian economy is not different from ours 70% of Russian export is oil based, the difference is that Russia shored up over $400b in reserves while Jonathan made no effort to save rather he squandered the already saved funds.

You may ask why Russia is not using their reserve to support their currency, the reason is that they are using it to subsidize the effect of International sanctions on their economy, if they dont provide that subsidy, there will be mass unrest and Putin will be eventually ousted.

Hope you dont know that 52% of their 2015 budget is subsidized, can you boldly say same for Nigeria?

Nigeria is a clear case of mismanagement and no amount of PR will change that fact.

This is how Norway escaped the present fiasco.

""Norway has diverted
much of its oil earnings to a
sovereign wealth fund, which has
become the world’s largest. The
money, reaching $890 billion as of
June 2014, amounts to $178,000 for
every Norwegian citizen. The
sovereign wealth fund helps Norway
avoid some of the problems
associated with the “resource curse”
by investing capital abroad. But more
importantly, the money is set aside to
be saved and invested to help the
country plan for the eventual decline
of oil production""

source : http://oilprice.com/Energy/Crude-Oil/Norways-Oil-Decline-Accelerating.html

Jonathan's SWF used to be $1b, by June this year, Kolade who is the chairman of the committee managing it has said the money is no where to be found.

Now you know you are the lousy one.
Vote your beloved Jonathan but allow Nigerians to decide their economic fate.

bushdoc9919:




It is cold reality.....we are oil dependent....and until we get rid of that dependency on oil....when the price goeth down...the taxes goeth up.

Sad, but true.

That's why we have to become an industrial nation, don't you think?

When you get some education we talk

Dis kind country sef..don taya me

tit:
a weaker naira means that it will be cheaper to produce goods in nigeria and sell to the world!
this should be an employment opportunity for hardworking people and entrepreneurs.

Kurukere economics! It would cost more to buy machinery for manufacturing in Naija.There is no electricity. Currency depreciation and devaluation just reduced your networth by 25% ie your money buys a lot less!!

jpphilips:


Please try to be selling your lies with facts.
Russian economy is not different from ours 70% of Russian export is oil based, the difference is that Russia shored up over $400b in reserves while Jonathan made no effort to save rather he squandered the already saved funds.

You may ask why Russia is not using their reserve to support their currency, the reason is that they are using it to subsidize the effect of International sanctions on their economy, if they dont provide that subsidy, there will be mass unrest and Putin will be eventually ousted.

Hope you dont know that 52% of their 2015 budget is subsidized, can you boldly say same for Nigeria?

Nigeria is a clear case of mismanagement and no amount of PR will change that fact.

This is how Norway escaped the present fiasco.

""Norway has diverted
much of its oil earnings to a
sovereign wealth fund, which has
become the world’s largest. The
money, reaching $890 billion as of
June 2014, amounts to $178,000 for
every Norwegian citizen. The
sovereign wealth fund helps Norway
avoid some of the problems
associated with the “resource curse”
by investing capital abroad. But more
importantly, the money is set aside to
be saved and invested to help the
country plan for the eventual decline
of oil production""

source : http://oilprice.com/Energy/Crude-Oil/Norways-Oil-Decline-Accelerating.html

Jonathan's SWF used to be $1b, by June this year, Kolade who is the chairman of the committee managing it has said the money is no where to be found.

Now you know you are the lousy one.
Vote your beloved Jonathan but allow Nigerians to decide their economic fate.

It's seems you find it difficult comprehending. I have two questions for you:

Is Russia's economy better than Nigeria's whether before or after this dwindling oil prices?

Did Russia as a country experience a drastic reduction in the value of its currency as a result of dwindling oil prices?

If you say Russia economy and that of Nigeria are on the same level of development then I shouldn't be arguing with you cos then it would be obvious you don't know what you're saying

onatisi:
even the ghana cedis is exchanging for 3.50ghc to 1dollar which means it will likely exchange for 4ghc at the parallel market. I think the fg should start putting in place measures to cushion the effect of this crisis . A reduction in the cost of fuel won't be a bad idea at this time

the cedi is being changed for 3.5 to a dollar? to the best of my knowledge it is 3.2 to the dollar official rate, which means the black market rate should be 3.5 or less.

PetroDolla3:
the cedi is being changed for 3.5 to a dollar? to the best of my knowledge it is 3.2 to the dollar official rate, which means the black market rate should be 3.5 or less.

well I am not in ghana and the info was given to me yesterday through a phone call. Secondly the parallel market is often 50peswa higher than the official rate . I was even told that 1000 thousand naira now exchages for 17ghc at the black market but 14ghc at the bank rate . Please do note I am not saying I am in ghana but the information was given by ppl staying there. They maybe wrong or right. Most likely the rate will still go up after the xmas festivities

ssammy:
The change we need is not necessarily a change in leadership as it is a change in thinking of nigerians. An average nigerian don't want to work, all they want to do is spend money on flashy electronics and cars. The leadership situation in this country is a reflection on the state of the populace.

You see all these beautiful theories everyone is rolling out will never work in the face of corruption.
How do you explain a locally manufactured cloth with local labour selling higher than its foreign counterparts?
Most Boxers in the market are locally sourced, how much is it sold in the market?

onatisi:
bros I don't think so. No serious country allows transactions with wu and mg to be paid out in dollars. Where will the banks get the dollars to pay receivers ?isn't it from cbn? The problem now is nigeria foreign exchange reserves is dwindling rapidly. The russian case is different from nigeria case. Russia is under us and eu sanctions which has made it difficult for russia to access badly needed funds but nigeria isn't under sanctions. The problem nigeria is facing is as a result of reskless spending.

You know that Nigerians always like making excuse for failure, imagine their comparism? Jonathan forgot to tell them that Russia has over $400b dollars in reserves before the crisis, Tomorrow they will compare deregulation of AGO with GSM. dumb people.

Leebeedo:


It's seems you find it difficult comprehending. I have two questions for you:

Is Russia's economy better than Nigeria's whether before or after this dwindling oil prices?

Did Russia as a country experience a drastic reduction in the value of its currency as a result of dwindling oil prices?

If you say Russia economy and that of Nigeria are on the same level of development then I shouldn't be arguing with you cos then it would be obvious you don't know what you're saying

Anybody who compares Russia with Nigeria in the face of this crisis is perpetually dumb, I cant waste my time discussing it.

jpphilips:


You know that Nigerians always like making excuse for failure, imagine their comparism? Jonathan forgot to tell them that Russia has over $400b dollars in reserves before the crisis, Tomorrow they will compare deregulation of AGO with GSM. dumb people.

as much as u have been making valid economic points,I don't think u should be insulting or using abusive words to stress ur point. We all know how nigeria got into this mess and some may not be aware of the reasons. This thread has opened the eyes of many people to the stark reality facing nigeria. What we should be brainstorming about is how to turn the negatives of the situation into a business advantage for ourselves.

onatisi:
as much as u have been making valid economic points,I don't think u should be insulting or using abusive words to stress ur point. We all know how nigeria got into this mess and some may not be aware of the reasons. This thread has opened the eyes of many people to the stark reality facing nigeria. What we should be brainstorming about is how to turn the negatives of the situation into a business advantage for ourselves.

such a compliment, I need to make you understand that the biggest challenge Nigeria has is corruption and the buffoonery of the Nigerian populace, Look at elections world over, no Govt that performs this woefully will ever be returned, in Nigeria, they make excuses for failure.

No policy works, no reform works, because the people are dumb, sorry you may be a diff Nigerian but the majority are so clueless.
It is my civic duty to bring that to their notice, not an insult but a statement of fact, how can a sane person return a government with this track record and you dont see why I am furious?

FELLOW NIGERIANS, IS THIS THE PRESIDENT YOU DESERVE?

May the Judgment of God not befall us and our families if with our votes we deliberately return a Govt of Hunger, corruption and death to the Nigerian people. Kindly distribute through your BBM and Whatsapp contacts, enough is enough!!



November 2014, Jonathan shocked Nigerians with the news that Boko haram has taken control of 6 towns in 4 LGA’s the height of incompetence in balkanizing the Nigerian state, a week later, Nigerians were blown away by series of austerity measures handed to them for their stupidity in 2011.

The naira was devalued at the pretext of drop in oil prices but Nigerians never asked why the Naira never appreciated when the oil price was increasing?
If the foreign reserve were not stolen, Nigeria would have weathered the storm for at least 6months like we did during the global melt down of 2004 and 2008, unfortunately, the incompetence of the Jonathan administration has brought grave consequence on the Nigerian people, Inflation and high cost of energy are likely consequences.

According to Will Ross of the BBC “He said he hoped a parliamentary investigation would also find out why the country's Excess Crude Account had fallen from $11.5bn to under $2.5bn in a year - arguing that Nigeria's savings are a vital buffer against any drop in the global oil price and without this "rainy day" account, the economy is vulnerable and exposed.

October 2014; Ladies and Gentlemen, the President of the Federal republic of Nigeria uses a militant Asari Dokubo for black market gun running, evident from the grounding and seizure of over $10m by the South African authorities.
September, 2014, The Nigerian Government admitted ferrying over $10m in a private jet for arms procurement, where do we draw the line between money laundering and arms procurement? I asked myself about the recent helos that was delivered by Russia recently if it was purchased in the same manner, agree with me or not, Jonathan is neck deep not just in corruption but money laundering.

August 2014: As a result of the unabated corruption in the Nigerian Military, Mutiny of July gave rise to Boko haram declaring a caliphate on Nigerian Soil, Gentlemen and Ladies, Jonathan Has once again made a history of Incompetence. Never in the history of Nigeria have we ceded territories to bandits.


July 2014: saw a president who went to sleep while neighboring West African countries battled with the Ebola virus, his negligence paid off when Patrick Sawyer brought the deadly virus to Nigeria unabated. Since August 2012, when the Ebola outbreak began, The Nigerian govt had no single emergency response plan in place.
$11m emergency fund and N480m budgeted for the control of infectious diseases in the 2013 budget never got to the Lagos state government, the Nigerian Ebola Epicenter.
Still in June, we saw the worst abuse of his Royal majesties powers when he barred APC Governors from attending a rally in Ekiti state with soldiers, meanwhile Boko Haram is still having a field day in the North.
The senate revealed to Nigerians how the president Mis appropriated over 685b kerosene subsidy fund


May 2014: [/b]left us with this shocking statement
“Jonathan, who was asked to comment on the allegations of corrupt practices leveled against some of his ministers, had said that nobody was above mistakes and that if he were to be acting based on reports on each of them, “no one will stay for more than six months in office.” [b]Mere stealing we call corruption"
Still in the same month after the corrupt tales of embezzlement and diversion of military budget, the clueless one finally offered Amnesty to a terrorist group, the first of its kind, in the world.
An Indication that the Jonathan’s administration is run by a den of thieves.

April 2014: reminded us the climax of Jonathan’s administration where he went on a jamboree while book haram held over 200 young girls, hostage,
April never ended before the Dizeani madueke’s 10billion naira scam reached a climax.

March 2014: just before the centenary celebration where Abacha of all people was a beneficiary, scores of Innocent school children were murdered in Adamawa sate.

Feb 2014: saw the illegal suspension of the CBN Gov.at a time the nation was in dire need of foreign direct investment, the Kidnap of the president’s foster father is a realistic score card on his strides on security.
January 2014, a presidential committee was set up to investigate the October scandal of stella odua who came with a guilty verdict, yet she kept her job.

December 2013: ushered the yuletide of Obasanjo’s “before it is too late”, several corruption allegations and the extremism of the Jonathan’s administration, the impunity of plundering the people’ s common wealth and the tenacity of talking drums like Abati who have earned a reputation in insulting the sensibilities of Nigerians.10 bullet proof vehicles purchased by DICON for its top brass

November 2013: the CBN Governor raised an alarm that under Jonathan’s watch, the NNPC diverted $49billion dollars, fellow Nigerians, are we not tired of condoning corruption?

October 2013: ushered a month of corruption coronation in Jonathan’s camp, where the Aviation minister coerced the NCAA to purchase 2 fairly used armored 2008 BMW to the tune of $800,000 each.

September 2013: President Jonathan took a record breaking 600 men entourage for the UN General assembly in New york

August 2013: After the billions of dollars spent in revamping the nation’s airports, skytrax world airport ranking for Africa showed Nigeria didn’t make it to top 10 in Africa neither did it make it top 100th place in the world. Whereas Ethiopia and Mauritania made it to position 9th and 8th respectively, what a shame.

July 2013: transparency international rated Nigeria as the 8th most corrupt country in the world.

June 2013: World Bank appraised him thus;

“Nevertheless, improvements in social welfare indicators have been much slower than would be expected in the context of this growth. Poverty reduction and job creation have not kept pace with population growth, implying social distress for an increasing number of Nigerians. Progress toward the fulfillment of many of the Millennium Development Goals has been slow, and the country ranked 153 out of 186 countries in the 2013 United Nations Human Development Index” the World Bank said.



May 2013: The president after wasting tax payer’s money on an entourage as long as the third mainland bridge went sleeping while his foreign affairs minister represented him in his presence during the AU summit in Addis ababa.
Just outside President Goodluck Jonathan's office sat 17 ambulances, just in case he or one of his aides fell ill. They were seldom if ever used.

No actual health-care facility nationwide had as many, and in fact a few still have none at all. But as soon as a Nigerian newspaper took a photo of the ambulances and published a story about them, they suddenly disappeared -- probably to an underground garage.

March, 2013: we witnessed the height of moral bankruptcy when Mr President granted presidential pardon to the biggest criminal in the history of our democracy, Alamesigha to prepare him for a senatorial seat.

February 2013: amidst the short fall in crude prices, the president smuggled into the 2013 budget a 2bn appropriation fund for the office of the first lady

February 2013: the office of the presidency denied vehemently that the first lady was on vacation in Germany only for them to organize a survival party with tax payer’s money. Is this the kind of leader you want to hold to his words?

In January 2013: the erst while madam due process and former minister for education challenged the charlatans of jonathans’ administration to a debate on accountability of $67b as expected, honorable cowards and pen thieves, absconded as usual


November 2012: President Jonathan approved 2.2bn naira for the construction of a banquet hall in the villa. At a time our debt profile was all time high

As commander in chief, he stood dumb while a military helicopter was used for "kabu-kabu" at oronto douglas father’s burial that error in judgment alone claimed the life of a sitting Governor. and the most brilliant NSA Nigeria has ever produced.

October 2012: blatantly refusing to appeal the ICJ’s decision on ceding bakassi, thereby throwing Millions of Bakkasi indigenes into pandemonium

refusing to cut down on foreign trips and cost of Governance, contrary to his Nationwide address of 7th Jan 2012.


October 2012: Mr president’s administration spent 1.5 billion to patch the 3rd mainland bridge, 4 months later, triple of that amount was expended again on maintenance alone, Talk about waste and incompetence

August 2012 : He said our foreign reserve is 42billion usd , is that not only on iweala's notepad?
How can you have external debt of 48bn usd and come home to deceive us that we have reserves?
How much services that 48bn plus interest annually? Nearly 25% of 48bn.


August 2012: Under his watch militants earn 10% of the Nation's revenue, $22.5m, $9m and $12.5m for tompolo, Ateke and Asari as national honors.

He twisted facts during the Independence Day speech on his fight on corruption, in contrast to what the transparency international claimed.
By august 2012, 2012 budget implementation was just 13%

over 5, ooo Nigerian lives gone, Mr president is still trading words and negotiating with boko haram, we remain grateful that a quasi state of emergency came to be, at least I cant imagine an SOE where the State Govs sit tight to control state funds while the FG fight their battle.

July 2012: its 3yrs gone and he is yet to commission from scratch a new power plant worst still fired the only human being in his cabinet who knows his onions in the power sector.

July 2012: Mr President earned a congratulatory message for implementing local content policy by importing 200 luxury brands at the cost of over 13.5 million each for a 4 day first ladies summit. While our manufacturing industries beg for patronage.

June 2012: Almost all teaching hospitals in Nigeria have no functional dialysis machine, the most sought of this equipment cost just 5m naira. Statistics has it that more than 60,000 Nigerians die yearly of a kidney related ailment, however, he jets out with his cohorts to seek medical help elsewhere.

ferma is seriously patching federal highways with a budget of over 80 billion naira, there is no coordination between, the MND, NDDC and Federal ministry of works on road maintenance, same contract is awarded over and over before the job is done.

JUNE 2012: Under his watch, the giant of oil and gas reserves is undergoing its worst energy crisis in the world.

tanker drivers alone can cripple his supply network as they wish not to talk of ordinary Niger republic coming to our rescue via imports.

In case you have not heard, Nigeria is very close to Afghanistan on security progress under Jonathan's watch.

June 2012: Education is in crisis. With adult literacy at 57 per cent, overall illiteracy at 66 per cent and more than 10 million out of the 30 million children of primary school age not in school, no serious government should be comfortable. When 40 million adults in a population of 170 million are illiterate, the country is ranked 161 out of 180 countries in the United Nations Comparative Index of Literacy 2012, and has an unemployment rate of 23.7 per cent,
it’s no longer news that only 26% of school leavers gain admission into the universities and only 5% are employed after school thanks to ASUU’s 6 months strike.

June 2012: Mr president’s economic blind men have blessed us with all time high of 37.5% inflation though his mickey mouse cbn governor is still claiming 28%, wondering what he will be claiming now that all bankers are at home, naira devalued, unemployment on the rise etc He still maintains a single digit inflation on paper, I dey laugh.


Mr president is the only Nigerian president that has not initiated a successful programme even Abacha did better with ptf while IBB with FSP and MAMSA, Mr president is still confused with ''YOU WIN''and SURE-P, with zero benefit to the Nigerian people.
on that same vein, Nigeria has the second record high job cuts within the last 2yrs, if in doubt ask the bankers and manufacturing industries.
before his ascension into power, the naira was in a sorry state of 150 to 1 dollar today, Jonathan has handed us an unstable 182 to 1 dollar

June 2012: The dana crash is a testimony that Mr president’s aviation is comatose, not even the attorney general could challenge the allegations of the dana staff in court, in a national disaster of that magnitude?
The girl could have served as a prime witness in a class action against dana
Less than 6months of inconclusive investigations, DANA air hit the Tarmac again.

Still on military, Nigeria has the most under educated junior military officers, before you ask how, Mr president is too lazy to ask him self why imo with highest national examination enrollments still have the least NDA and police academy enrollments, while borno and zamfara as educationally less privileged, have higher quota than Delta and Anambra put together in military enrollments. Nepotism and corruption at its best
Mr President is the only head of state in the world whose wife is a ministry of its own.



January 2012: Under Mr president’s watch, a 250bilion subsidy programme rose to 2 trillion naira yet no arrest, no conviction, no sack, the best miserable Nigerians could get was an AWOL attorney general after 7days of protests. Height of incompetence and corruption.

Mr President is the only president in the world whose parliament gulps 75% of the national budget as alleged by the CBN Gov. yet they still soak themselves in $625m bribery scandal.
Jonathan has not even initiated let alone fulfilling a single campaign promises except the one that he needs to surround himself with brain dead women in his cabinet.


Nigerians say thank you Sir, for your 6 wasted years of leadership.

@jpphilips, as much as I won't like this thread to turn into a political one ,I will like to touch on some of the points raised by you. Nigeria is confronted by 2 problems mainly economic and political. On the economic angle ,the main problem has been the inability of the present and successive govt in nigeria to diversify the economy from been oil dependent. This problem is the main bane and it is sad that when these presidents leave power ,they then start to blame the present one. I believe that is obj had done enough to diversify the economy from been to reliant on oil during his 8 years in office with policies difficult to stop ,nigeria won't be in this mess. Afterall it is the same pdp ruling at the center. And again the 7 big market in the world right now are gradually sliding back into recession,economies like japan,uk,italy and etc due to this same problem ,can we say they don't have good leaders too? On the political problem , I won't like to hold fort for gej no doubt he has his many failings but what people are saying is that despite the fact that nigerians desire quality leadership ,people don't believe buhari or apc is the credible alternative for the center. The nigeria political problem is a collective one which stems from the voters all the way to the president. We need to ask ourselves ,what economic policies or programmes has the 36 state governors in nigeria put in place to make their state self sufficient just in case the fg can't fulfil it allocation obligations? Most state governors if not all only rely on fg monthly allocations ,why can't state govts implement agricultural programmes that will make their state to produce more produce and even export? There are abundant resources in all the 36 states of nigeria which needs to be tapped. Dubai is a state in the UAE but dubai always keeps bringing out new programmes to woo investors and tourists, during the last recession dubai had to beg the center govt at abu dhabi for loans and bail out packages. If a person like pat utomi is the candidate of apc then I know and believe nigeria have a chance but to be honest many ppl don't believe buhari or apc has what it takes to lead the nation out of the woods. This is my personal opinion though.

onatisi:
@jpphilips, as much as I won't like this thread to turn into a political one ,I will like to touch on some of the points raised by you. Nigeria is confronted by 2 problems mainly economic and political. On the economic angle ,the main problem has been the inability of the present and successive govt in nigeria to diversify the economy from been oil dependent. This problem is the main bane and it is sad that when these presidents leave power ,they then start to blame the present one. I believe that is obj had done enough to diversify the economy from been to reliant on oil during his 8 years in office with policies difficult to stop ,nigeria won't be in this mess. Afterall it is the same pdp ruling at the center. And again the 7 big market in the world right now are gradually sliding back into recession,economies like japan,uk,italy and etc due to this same problem ,can we say they don't have good leaders too? On the political problem , I won't like to hold fort for gej no doubt he has his many failings but what people are saying is that despite the fact that nigerians desire quality leadership ,people don't believe buhari or apc is the credible alternative for the center. The nigeria political problem is a collective one which stems from the voters all the way to the president. We need to ask ourselves ,what economic policies or programmes has the 36 state governors in nigeria put in place to make their state self sufficient just in case the fg can't fulfil it allocation obligations? Most state governors if not all only rely on fg monthly allocations ,why can't state govts implement agricultural programmes that will make their state to produce more produce and even export? There are abundant resources in all the 36 states of nigeria which needs to be tapped. Dubai is a state in the UAE but dubai always keeps bringing out new programmes to woo investors and tourists, during the last recession dubai had to beg the center govt at abu dhabi for loans and bail out packages. If a person like pat utomi is the candidate of apc then I know and believe nigeria have a chance but to be honest many ppl don't believe buhari or apc has what it takes to lead the nation out of the woods. This is my personal opinion though.

in case you have not noticed I base my observations and recommendations on facts alone not speculations and anecdotes.
who told you Japan is sliding towards recession? (even if they are considering it that I doubt), has it got anything to do with fall in crude prices?
you should compare like scenarios not just muddling up un researched instan ces, that is the dumbness of the Nigerian economic space, where a CBN gov will compare Nigerian oil and gas space with Saudi Arabia or compare telecom deregulation with the oil and gas down stream sector that is plain dumb.

Most of you echo diversification of the economy but fail to realize that oil and gas where we have invested huge sums over 3 decades is still begging for diversification.

why will you invest in Agriculture when you have not maximized the oil and gas investments you have on ground already? does it make sense?

Where will you get the money to invest in agriculture when your reserves have either been stolen or diverted?

Let me ask you, who is in a better position to bring Pat Utomi on board?

Buhari or Jonathan? Even as bad as OBJ was he attracted technocrats who made positive impact on our economy,
Prof. Soldo, iweala, Rilwanu Lukman, Dora Akunyili etc to mention a few.

Jonathan managed to attract Prof Barth nnaji what did he do with him?

This was an individual who as an individual generated 50MW of electricity on his own without any Govt patronage unlike Dangote and Innoson.

He was the man that proposed the balkanization if the power sector and privatization by DISCOS, that was a brilliant move from an astute technocrat, just like soludo's consolidation exercise, Where is he today?

Jonathan love to surround himself with mediocre and substandard human beings like Madueke, Where will the change come from?

It is not about what the previous administrations before him did, it is about what he is doing wrongly that is bringing hardship to the Nigerian people.
The past is gone, Jonathan is our today and his failure has left us with no future, remove him and secure your future if you care.

Keneking:
This government sef

you are just an idiot. If you don't understand, you shut up. Can you read and understand at all, okpe