Happy Easter

Happy Easter to all the Christian members of this blog. Lent is over, any big lessons learnt? How has your week been if you are in Nigeria? You know what i mean, since the Buhari win? I know for one the dollar has found its way back down to N197 from a high of around  N230 about a week ago. I dont understand, because the fundamentals are still the same economically speaking. Minus the “peaceful election factor”  what gives?

So a lot of the popular blogs have started the rumor mongering about certain people being afraid to be probed starting in the next two months. Some have shown a picture of Diezani the “ministress” of petroleum at Atiku Abubakar’s house, she was looking very very sober. Atiku is a party chieftain of APC, could it be she is looking for ways to return the 20billion? Allegedly the money was  traced to Zenith bank? Mmmmm.  Another one is Bola Shagaya who is attempting to host Aisha Buhari for dinner. Bola is notorious for being close to every first lady and was almost a twin to Patience Jonathan. Bola Shagaya has since issued a letter of rebuttal,  saying no dinner was being planned for anyone. In all these rumors one thing i will say is many Nigerians are sycophants, so there might just be an element of truth to some of it. Mmmmm.

This post was supposed to be about reading lists…the books i am currently reading, but i think that deserves its own post.

Please share your post election week experiences and thoughts.

NESTR
OAD

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4 Comments on Happy Easter

  1. www.thelmathinks.com // April 5, 2015 at 16:47 // Reply

    Happy Easter OAD. Please make sure you still do the post on reading lists. I’m a bit confused about the dollar drop. Is there a correlation between Buhari victory at the election and the dollar? Buhari loyalists seem to think so but nobody has satisfactorily explained how. Also today I received this message; “Within 48hrs of the announcement of Buhari’s victory as Nigeria’s president-elect, the Nigerian stock market recorded a gain of N906bn, the biggest gain in 50 yrs, according to Daily Trust.The naira made a gain of N27 against the dollar, selling for N198 in Kano this evening. Numerous filling stations that were padlocked under the pretext of fuel scarcity, suddenly opened their gates for business.The price of rice has crashed,as hoarded bags are flooding the market from locked up stores.”. I’d like to know exactly how these (assuming that they’re all facts) are attributable to Buhari.
    That said, I’m so grateful that the election and the aftermath were peaceful. I wasn’t keen on either candidate but after last week I wish I can press rewind and sing JEGA FOR PRESIDENT. lol.

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  2. Happy Easter to you and everyone here. Thank God the dollar has finally gone down. As per the rapid decline, I hear the politicians share large amount of money to people in dollars not naira during the campaign period and just before the elections, causing an increase in d demand for dollar there by increasing the price. The main elections are over, so the demand has fallen drastically.
    As per thelma’s comment on other commodities the same principle of demand and supply is at work mainly backed by panic.

    I’ve also heard the gist about bola shagaya being the BFF of all 1st ladies. Let’s see how this one goes.

    During the lent period, I learnt so much about how much God loves me, he loves me so so much.

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  3. Happy Easter Pynk, Happy Easter all. May God’s purpose for Easter – the redemption of man be evident in our lives this season and always.

    My week has been splendid starting with the success of the Presidential elections. I opine that Professor Attahiru Jega is deserving of a Man of the Year award for his competence and character in such a defining moment in the country. I also got some long awaited good news (I pray God is faithful to complete that which He started).

    The exchange rate fluctuations is largely determined by the relative demand of one’s currency (Naira) to foreign exchange (primarily dollar) amidst other factors. Basic economics tells us the higher the demand of an item (dollar), the higher the value and price. The conclusion of the presidential elections saw the end of the money splurge of some campaigners (the APC primaries reportedly saw huge sums of dollar doled out, President Jonathan also gave out dollars to some South West Obas as reported in the media). Hence the temporary high demand for the dollar during the elections was a factor for the unfavourable exchange rate. Also the success and relative peace experienced in the elections encourages business as it signals a stable economy, less risk in doing business and it also encourages Foreign Direct Investment which leads to a higher demand in the Naira. Essentially the health of an economy is dependent on the political happening in the economy, thus the ‘better’ the politics, the better the economy.

    Well, two months isn’t far and I’d be looking forward to seeing how Buhari’s government would be able to balance punishing corruption and avoiding witch hunting. Nonetheless, its refreshing to hear and read the lofty promises and plans that Buhari’s government has for Nigeria. It’s not common for one to be inspired by the government to hope in Nigeria.

    I’m also anticipating your reading lists. Would love to know which books quench your thirst.

    Have a splendid week.

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  4. I concur with what chris said. As for madam BFF to firstladies, its normal. Once u r in power, pple flock around ya. GEJ will soon know his real friends, so will PEJ

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