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Monday, January 25, 2016

Nigeria's economic situation is totally out of the control of the present administration - Okupe

Former Spokesperson to former President Jonathan, Doyin Okupe, says the current state of the Nigerian economy is totally out of the control of this present administration. He said this in a post on his Facebook wall. What he wrote below...
These are very critical periods for World economy as it relates to Crude Oil production and sales. For a country like Nigeria it becomes more crucial in view of the fact that close to 70% of government revenue comes from sale of crude oil.
In recent times however, the volatility of the oil prices have threatened the stability of the Nigerian Economy. Specifically the present price of crude oil hovering between $26 & $28 US dollar directly undermines the profitability of the crude oil enterprise, as the cost of production of crude in Nigeria is about $30 USD. This high cost of production is second only to Russia. Saudi, Iran,Iraq all produce at a cost between $12 &$15 USD. The danger signal here is clear and profound.

The implication of this price regime is that we begin to lose $4-$2 USD for every barrel of crude oil we produce. It is pertinent to state clearly here that this ominous situation is totally out of the control of the present administration. But because we are all stakeholders in the Nigerian project and also for the fact that any external threat to the survival or interest of Nigeria calls for a bi partisan Cooperation it becomes imperative that we all put all heads together to find a solution. I believe the government must readjust the budget immediately. Recurrent expenditure must be reduced by 50% minimum, while the capital is reviewed to focus mainly on projects that will directly impact on production and export driven initiatives.

The deficit in the budget must be reduced substantially while the bench mark is brought lower to between $17 & $20 USD. There is need to liberalise some aspects of our Forex policies. Nigerians and foreigners must be encouraged to bring in their foreign currencies with absolute necessary guarantees. Lastly while the current anti corruption war must continue unabated emphasis must now be placed on recoverable to boost our foreign cash inflow. The need for the government to declare a national emergency and nationwide austerity measure regime cannot be over emphasized.

101 comments:

Ada Ada said...

Change indeed... Buhari has failed us

Anonymous said...

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ejike capable said...

Oga doyin they will soon come for u better keep shut.

augustine muta said...

hm..hmm... we voted 4 change and now we are really seeing d change

Davido's driver said...

We can only blame GEJ for this

Damolia De Best said...

Thanks for ur opinion Sir .


Damolia.DEW

Y.F.C. Omrex said...

Observed, nah una make am this way, with all humility and honesty I have feelings for Linda Ikeji and would sincerely wish to meet her in person this year as part of my resolution.

SENSATIONAL PURITY said...

Useless people

STERN said...

The useless administration is all a WASTE. They annoy the hell out of me.

Linda NwaGod said...

True talk
Linda dont take note!

Oshios Baba said...

Alright...

freeborn zinalima said...

Hey doyin what do u expect,so you expect nigeria economy to be great when an illiterate,ignorant and hausa almajiri is on the throne you must be joking dude.
Buhari and his cohort are playing with Nigerians intelligence an be laughing there ass at there back coming out to shout change change hmmmmmmm.
Nigeria will soon experience the worst economy this is just the beginning.
Were are those idiot here shouting change am no longer seeing there comment come an face great freeborn an see doom and curse.
Buhari have turn efcc and dss as his personal thugs an then turn economy as his family bank were he will loot an blame Jonathan.
Buhari must fall as Nigeria is about to fall.





























#sad indeed

freeborn zinalima said...

Hey doyin what do u expect,so you expect nigeria economy to be great when an illiterate,ignorant and hausa almajiri is on the throne you must be joking dude.
Buhari and his cohort are playing with Nigerians intelligence an be laughing there ass at there back coming out to shout change change hmmmmmmm.
Nigeria will soon experience the worst economy this is just the beginning.
Were are those idiot here shouting change am no longer seeing there comment come an face great freeborn an see doom and curse.
Buhari have turn efcc and dss as his personal thugs an then turn economy as his family bank were he will loot an blame Jonathan.
Buhari must fall as Nigeria is about to fall.





























#sad indeed

chioma jacinta said...

Ok seen * it's well*

Unique Treasure said...

Totally true





















#she'sunique#

Ichebi Christian said...

Exactly

chinelo okafor said...

WORD.

Chiisunshine(carolips) said...

No buhari is busy changing the politicians. When he is thru. He ll visit then real nigeria then.

anita gold said...

Hmmm

anita gold said...

Hmmm

Bonita Bislam said...

For the first time this mab speaks with his brain intact.Im not an economist but methink the way out of this economic limbo is for the govt to diversify the economy.The over reliance on oil must stop asap.We must go back to agriculture
And the only way to boost the strength of the naira is by encouraging export of our agricultural produce like palm oil, cotton, timber etal & selling them using Naira as the currency for transaction. The priority we give to dollar must stop.Boost our naira by conducting business transaction in Naira instead of dollar.I'm aware that the currency determinant for oil products is not within the armbit of Nigeria's decision, that's why diversification is highly needed.Encourage consumption of local goods & services.That's how this govt can turn this misfortune into a blessing

Nnenne George said...

Okupe I couldn't agree less with u.. PMB I hope you're preparing to come for him for stating the obvious...?!

Nnenne George said...

Okupe I couldn't agree less with u.. PMB I hope you're preparing to come for him for stating the obvious...?!

chioma jacinta said...

Buhari my foot! * it's well*

Anonymous said...

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lovely said...

The worst part is I ve an account I pay for bank charges monthly and now for me to pay money to my own account that I used my own account I also ve to pay charges so that. Buhari and his ministers can live d luxurious life dey want to live is dat fair seriously money I work hard for with no support from d government in. Any way not even in raising my kids how wicked

Benedicta Emmanuel said...

Which way then?
"NeVeR SaY NeVeR"

Anonymous said...

For once making sense

Anonymous said...

You guys are all mad. I'm not surprised tho. This blog is filled with thotless illiterates who are incapable of using their own minds. Did the country just get like this overnight? The previous govt completely cleaned out our treasury..wiped it clean. Shared billions like it was nothing..rendered us bankrupt at a time when oil prices were at their highest. Did u illiterates think actions like that didn't come with repercussions or economic ramifications? When one person is stealing billions of naira..did u think we were not going to suffer for it? The previous govt had 6yrs to destroy this country..as a you all know it is easier to destroy than to build. What this new govt met was disarray. And it will take a little more that 8month to repair that damage. In the meantime..we will settle for the untimely death of looters

Anonymous said...

Shut the hell up. Why hasn't the man talked abt his former bosses ability to save for a rainy day. You guys are idiots. You blame the government for all your woes. Get off your begging tribalistic arses and do something for your country (or the Biafra nation). Just do something with your hopeless lives.

judith hanrankis said...

What Nigeria is going thru now is due to last regime looting and notin left




Most beautiful gal on linda ikeji's blog

Anonymous said...

the 3 stooges, see them. get your heads out of PDP'S ass. You've been in there too long. When Okupe and his cohorts were busy shari and changing naira to dollars, you all didn't realise the effect abi? your brains have been scrambled by bigotry.

GREAtson Vieriche CJ said...

Metuh has stopped criticizing right now! Don't be the next Metuh abeg.


I'm not a robot!
Je ne suis pas un Robot!
Abughi m Igwe obula!
Nye manyi robot debu!
Mi O yi Sé Irin!

damba israel said...

As the govt confuse




My view not urs!!!!

Andy sneh said...

Stfu

Anonymous said...

Again Haters Just Leaked Nude videos of Blac Chyna's Mum,
(please be 18+)

Anonymous said...

Look @ the fools commenting nonsense.Okupe has never said anything bad to the present administration.He only try to profile a solutions.omooba

Owakah I said...

seen

Juliet Iwuno said...

Okupe you are back, welcome! Linda take note!

golda awosika said...

Dnt wori, we know that





#*karlishah*

beewhy said...

So sad Linda allow illiterate to make comments on her blog cos comments like this drive some people away from reading below her news! Doyin gave a constructive statement, a statement that wasn't about buhari, APC or PDP but how bad the economy has gone due to the slump in oil price and all you could was "Buhari has failed us"? . You guys that dumb or you failed to read before rushing to comment... Illiterate with data on her phone.

owakah (A.K.A. Innosometin) said...

NEXT

BOXY (A.K.A) common sense said...

Am observing a lot moment guys carry On

Anonymous said...

The bulk of you people should just read your own comments here.Either you didn't understand what Doing Okupke wrote or you were so in a hurry to abuse the govt.you forgot to stop to think? He is stating the obvious. He is not criticizing the govt.of the day.He is sounding very patriotic. for a man who was hugely part of the last administration,I am shocked! This is political maturity.He is backing the anti-corruption war.All this igbo girls that 'settled' their way through high institutions, I dey hail una oh! Ada Ada & Nnenne George et al.plus that junkie Stern.

Eddy Ogbunambala said...

Ok

Anonymous said...

@Nnene & Chioma, pls task your brain biko. You can do better. Copy Yoruba girls and read more, lazy brats. Life isn't all about marrying a rich Igbo business man and becoming a trophy wife. Most Igbo girls on this blog are below average. Or is the problem hatred?

Anonymous said...

How ignorant can you Nigerians be? It is obvious from his statements that it is beyond the control of government. Even if GEJ remained we would be facing the same woes. Can people not read anymore?

Abdulateef Adepetu said...

Mr Doyin okupe, thank you but No! Go look for job. The APC present government is fully in charge. We don't need your advice. Thanks but No thanks!

Abuka Michael said...

5% (IGBO'S) was right all along...

Nwariaku Munachi said...

When the president is busy chasing shadows

RareSpecie Z said...

Asshole. He caused it.

KOLORUKO LUKMAN said...

Doyin u are correct.u unbiased in your thoughts.Together we can make Nigeria great again. @freeborn, u lack curtsy and even direction. U just open ur 👄 and spew rubbish. I wonder d home u come from.

Sure Boss said...

Well spoken Mr Doyin Okupke,I agree with you in totality

Eric Nesty aka LIB'S FINEST said...

I concur..

#FINEST

Anonymous said...

@Ada Ada. You are a fool for putting Buhari's name with the country
bad economy. First and foremost, the crude oil price going down is a global problem and affected Saudi Arabia, Russia and many countries rich in oil.
Secondly, If there is something Nigerians should be grateful and thankful for right this moment is having Buhari as the elected President. I thought some Nigerians will have a little sense and be thankful to Buhari after hearing about the amount of money that was being shared among Dasuki and the PDP looters. Shame on anyone that put the economy downfall on Buhari government.

Anonymous said...

@Ada Ada. You are a fool for putting Buhari's name with the country
bad economy. First and foremost, the crude oil price going down is a global problem and affected Saudi Arabia, Russia and many countries rich in oil.
Secondly, If there is something Nigerians should be grateful and thankful for right this moment is having Buhari as the elected President. I thought some Nigerians will have a little sense and be thankful to Buhari after hearing about the amount of money that was being shared among Dasuki and the PDP looters. Shame on anyone that put the economy downfall on Buhari government.

Anonymous said...

Thanks to you and many others like yourself that was involved with Jonathan Government.

Anonymous said...

Et tu Okupe

Anonymous said...

Et tu Okupe

Anonymous said...

Okupe or what is that your name what is happening to us as a country now is because our past leaders were all myopic including you okupe you guys never plan ahead all you do is to loot our money and boost other country's economy. Am not a partisan Buhari is starting from scratch so keep your mouth 👄 shut, all this noise you are making will not stop Efcc from coming for you should you have any question to answer don't district us we are now wise

dj banti said...

Enter your reply...tht true

tosisochukwu said...

Story story














































































































!brightosman aka fake phyno .#gerarahere

Anonymous said...

Disgruntled idi*t

Vivian Reginalds said...

Excuses every now and then...
-D great anonymous now as Vivian Reginalds

Prisca Chijioke said...

50 kobo change

POPULAR LIB READER!

Anonymous said...

If U call this administration useless, what will U call Jona administratio with this current revelation--Usenesless, incompetent and arm rubber!!!

Anonymous said...

What are all of you talking about. Was it the same doyin okupe that said GEJ diversified the economy?? Why is he changing mouth ? Why did they waste billion of dollars when oil was high ??why are you ibo people so gulible and sturborn ?

Jude Akinwole said...

This is what happens in a mono-economic country. Our overdependence on Oil is our curse. #Fact

Akeem Opayemi said...

For window blinds, wallpaper and curtain please call 08160856785.

Eyinmosan Weyinmi said...

Mr Doyin Okupe, I must say, u ve made quite an impressive statement. Am not a one of your fans though, but this your position on the economy and the way forward, is spot on.

CUTE ONYII said...

Close ur mouth for once, you support buhari, but out of hunger you are now having feelings for linda ikeji, everybody here knows you are gold digger and you will fail like your buhari.

Jamila Shaibu said...

Hahahahshha...we are all in it now! no going back! Thats the change u voted for na.

Anonymous said...

Still yapping.

Faruk Al-amin said...

It's so weird to see okupe talking sense like that, but I trust PMB, he knows how bad d economy is, let's give him a chance and see what he's got.

Chris Ajaegba said...

Nice one

osondu arinze said...

Continue blaming GEJ till the day u will die cuz if not eh the kind thunder wey go fire dey gem

Miriam Aguzie said...

Tired of everything here. Buhari na ebughari every1#Lindangwanu#

Sharon justman said...

Story for the gods. Obong Abasi is fully involved

Adaobilinda her sexcellency said...

True talk

Edegbuhu Imohi said...

Okupe is still at large.

Okoronkwo Nwanyieze said...

If they will hear Linda post my comment biko

Hope Edodi said...

@lovely... by the time dis dudes are done with us, it's only change dat will remain

Anonymous said...

Why didnt you advise yourselves when u were in power? Instead you people were busy looting. Buhari is not interested in your useless advice. Keep your advice to yourself. Useless PDP looters

Gods own1 said...

At least constructive criticism keeps d country going

Oluwafemi Olarinde said...

Jesus is Lord!

Okowright Balaxy said...

I don't blame Buhari, I blame all those that were deceived by that old man and his witchcraft political party. How can a man with analog mentality be a president in the 21st century? This man is confused and won't achieve anything aside witch hunting the opposition all in the name of fighting corruption, while the main corruption is currently going on under him. I pray God deliver us fast from this dead administration.

Anonymous said...

Buhari only came back to steal oil money. Because of his bad luck, oil price is falling by the day. If Buhari after serving in the military, once head of state, PTF chairman, petroleum minister etc can tell Nigerians he was a poor man before wining the elections, it means the man does not invest at all. He's just a lazy fool. Someone like him will only drain this country. Mad man, I pray he get evicted out of that Aso Rock before his tenure ends. Everything is collapsing under that cow!

it is i said...

If u can read and understand u will clearly c that this bastard okupe is only patronizing buhari and not castigating him. Alot pple that comment on this linda sef,, useless bunch

olufemi awolaru said...

Only if useless pdp led govt had saved 4 rainy day but they looted d treasury 4 their personal rainy day. Shame on this indomie brained okupe.

Anonymous said...

It's a pity u guys keep dropping comments like illiterates, pdp feasted on the country's fund for 6years,leaving it the way it is presently, nd u expect a government who just took over barely 8months to perform magic?? Like how do some of us think? It's so painful some of us are blind bats Cus of the same corruption we are trying to fight here.. this same man Doyin okupe,was the one always talking trash on air when ever he was interviewed, now he has the mind to one out and talk abi...You are next! Buhari is coming for you!




koledoye john said...

I beg tell them....johnkoledoye@gmail.com

Mich_damz said...

Slightly more than half you folks that make comments on here are biased, stereotypical and a liability..you make comments based on what you think alone but not the actual fact on ground .If you have got a party that has been in power for 16 years and there is no middle class in Nigeria, instead the rich are getting richer.do you consider that progress for all ? . No,a strong middle class is a key factor in encouraging other national and societal conditions that lead to growth. It is required for robust entrepreneurship and innovation, a source of trust that greases social interactions and reduces transaction costs, a bastion of civic engagement that produces better governance, and a promoter of education and other long-term investments. The current administration is not to blamed alone but rather all the past administrations which clearly has been under PDP party.. they ruled for 16 years and we are currently buried in hole based on their lack of vision and innovations..we need be considerate in crucifying a new government that inherited a whole lot of mess and I'm not really a fan of any party but a promoter and supporter of prosperity for all regardless of your gender, ethnicity, believes or religious background.i strongly adhere that we remember Rome wasn't built in a day neither was America and all other great nations..if we don't get the desired result, we have got power to revolt for change and as long as we don't stop wanting progress, we will get there by Gods grace...

Mich_damz said...

Nice write up✊🏻

Anonymous said...

@beewy bless you. Too many illiterates on this blog. After all everyone has a phone now

beauty said...

Yes......nonyepeace31yahoo.com

Anonymous said...

Please don't answer stern. We all know how he reasons on dis blog

Anonymous said...

Nnenne biko did u go to school at all???? Dat man did not insult pmb so why would he come for him

beauty said...

Ok nonyepeace31@yahoo.com

Anonymous said...

Chief Doyin Okupe should better keep quiet before they plan Barr. Olisa Metuh treatment for you.

Angel Makiz said...

God forbid.....angelmakiz@yahoo.com

Peace nwadire said...

Hey anonymous, stop attacking people in this blog, everyone has the right to express his or her own opinion, what's your headache huh! You musnt force people to know what you claim you know, jus drop your comment and leave others alone, this character of yours is quite unbecoming, you better watch your tongue. Nigeria Wil never be a failed country in Jesus name, amen.

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