•Analysts: Nigeria in need of fiscal stimulus, reforms

•FG allays concern over worrying economic data

•Moody’s: Country to expand by 2.5% next year

Tobi Soniyi, James Emejo in Abuja and Obinna Chima in Lagos

There seems to be no end in sight to Nigeria’s economic woes, as the third quarter real gross domestic product (GDP) growth data released monday by the National Bureau of Statistics (NBS) showed that the country sank deeper into recession, contracting by 2.26 per cent from -2.06 per cent in the second quarter of this year, and -0.36 per cent in the first quarter.

This represented a 0.18 per cent drop from the growth recorded in the preceding quarter and lower by 5.08 per cent relative to the corresponding quarter in 2015.

The contraction in GDP was largely driven by the militancy in the Niger Delta, which resulted in a drop in oil output during the third quarter to 1.63 million barrels per day (mbpd) and the oil sector’s contribution to GDP, notwithstanding the rebound recorded in the agriculture sector.

Nigeria depends on oil exports for 90 per cent of its foreign exchange earnings, reflecting the impact of a depressed oil sector on the economy.

The latest GDP growth data further confirmed the level of weakness in the economy, which has been hobbled by rising unemployment and job losses, declining capacity utilisation, and acute foreign exchange shortage.
According to the NBS, quarter-on-quarter (unadjusted for seasonality), real GDP, however, increased by 8.99 per cent.

During the quarter under review, aggregate GDP stood at N26.55 trillion (in nominal terms) at basic prices compared to N17.8 trillion in Q2 2016 and N24.31 trillion in Q3 2015.

Nominal GDP grew by 9.23 per cent relative to the growth recorded in Q3 2015 by 3.22 per cent.

Daily oil production averaged 1.63 million barrels per day (mbpd), lower than the 2.11mbpd in Q2 and also lower relative to the corresponding quarter of 2015 by 0.54 mbpd when output was recorded at 2.17mbpd.

As a result, real growth of the oil sector slowed by 22.01 per cent (year-on-year) in Q3 2016, representing a decline of 1.06 per cent from Q3 2015. Quarter-on-quarter, oil sector growth was 8.07 per cent.

The oil sector contributed 8.19 per cent of total real GDP in Q3, down from 8.26 per cent and 10.27 per cent in Q2 and Q3 2015 respectively.

On the other hand, the non-oil sector contributed 91.81 per cent to GDP in real terms, up from 91.74 per cent in Q2, which was largely driven by activities in agriculture (crop production), information and communications and other services.

The non-oil sector grew by 0.03 per cent in real terms in the period under review, reversing two previous quarters of negative growth in Q1 and Q2 2016.
In the non-oil sector, agriculture contributed 24.09 per cent to nominal GDP during the quarter, higher than 19.71 per cent and 24.51 per cent recorded in both Q2 2016 and Q3 2015, respectively.

The manufacturing sector contributed 8.59 per cent to nominal GDP, lower than 8.95 per cent in Q2 2016 and 9.67 per cent in Q3 2015.

But real GDP growth of the manufacturing sector slowed by 2.63 per cent to -4.38 per cent (year-on-year) from –1.75 per cent growth recorded in third quarter of 2015 and 1.02 per cent in the previous quarter. On a quarter-on-quarter (seasonally unadjusted) basis, the sector increased by 6.28 per cent.
Nevertheless, nominal GDP growth of manufacturing was put at –2.93 per cent (year-on-year), reflecting a drop of 1.91 per cent from the 1.02 per cent recorded in the previous quarter as well as 7.73 per cent lower than the 4.80 per cent recorded in Q3 2015. On a quarter-on-quarter basis, the sector grew by 8.49 per cent.

The NBS said the drop in manufacturing in the period under review was “partly due to the continued fall in the exchange rate, which made imported inputs more expensive, thereby increasing business costs”.

It said: “This was greatly as a result of the continued fall in the naira to dollar rate which translates to much higher cost of business operations.”
The electricity, gas, steam and air conditioning supply segment contributed 0.33 per cent to real GDP and grew 8.65 per cent in Q3.

The construction sector contributed 2.96 per cent to nominal GDP, lower than 4.22 per cent in Q2 2016 and 3.15 per cent in Q3 2015.

Trade grew by 15.36 per cent and contributed 19.83 per cent to GDP in the third quarter, down from 21.16 per cent in the previous quarter.

The accommodation and food services sector grew by 2.73 per cent year-on-year, representing an increase of 1.75 per cent relative to 0.98 per cent in Q3 2015. It contributed 0.87 per cent to GDP from 0.67 per cent in Q2.

The transport and storage segment contributed 1.20 per cent to real GDP while the telecommunications and information services and broadcasting contributed 10.14 per cent to GDP in Q3 compared to 12.68 per cent in Q2 2016.

The finance and insurance sector contributed 2.90 per cent to real GDP in the period under review, lower than 3.05 per cent in Q2 and higher than 2.76 per cent in Q3 2015.

The real estate services sector contributed 7.17 per cent to real GDP, lower than the 7.57 per cent in the corresponding quarter of 2015 and the preceding quarter.

Also, the arts, entertainment and recreation sector contributed 0.19 per cent to real GDP, from 0.23 per cent in Q2 2016 and 0.18 per cent in Q3 2015.

[size=15pt]Economic Stimulus[/size]

Reacting to the worrying GDP growth data for the third quarter of the year, economists yesterday harped on the need for the federal government to resort to fiscal stimulus to revive growth and reset the economy.

The Head of Africa Research, Standard Chartered Bank, Razia Khan, said Q3 GDP contraction in Nigeria did not come as a surprise largely because of the extent of the downturn in oil sector GDP.

According to Khan, the resumption of payments to Niger Delta militants was not sufficient to trigger a meaningful improvement in production, saying that further attacks, reported in recent weeks, pose new risks to the outlook, as does the very real risk that there may not be any resolution to Niger Delta issues soon.

“However, flat growth does not in itself hold enough promise. The urgent adoption of reforms is now required in order to de-bottleneck Nigerian growth.

“Not least, real attention needs to be given to the problems of FX liquidity which continue to hold back growth in manufacturing. It is clear that the measures instituted so far are not sufficient to bring about a real improvement in FX inflows. New, and different thinking is required,” Khan said in response to enquiries by THISDAY.

The Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, said the latest NBS report showed that “some things are definitely not working right”.
“This is a bad news. We are in real trouble. With three consecutive quarters of increasing negative growth, that means we are getting deeper into recession.

“The stimulus package has to be increased and intensified and the interest rate has to come down and they have to make forex available. The forex market arrangement now is not working and something has to be done and very quickly.
“There is no easy answer to it, but we must face the reality and find our way out of this situation,” the FDC boss stated.

Also, the Global Chief Economist at Renaissance Capital, Mr. Charlie Robertson, in a note yesterday, held the view that “in an ideal world, Nigeria will let its currency float too in 2017. No investor we spoke to will put money into Nigeria, unless it copies the currency reform story that Egypt and Russia have both done”.

Similarly, the Director General of the West African Institute for Financial and Economic Management, Prof. Akpan Ekpo, said the delay in approving the federal government’s $30 billion borrowing plan may continue to hurt the economy.

“To be honest, the government need resources to spend and the delay in approving the borrowing is a problem. The lawmakers need to approve it for government to borrow quickly and put the money into capital project. That is very important.

“Secondly, a lot of the states are still not paying salaries. The federal government has to find a way of supporting the states to pay salaries,” the former vice-chancellor of the University of Uyo said.

[size=15pt]FG Downplays NBS Data[/size]

But in its reaction to the worrying data released by the NBS, the federal government said yesterday that it would announce an ‎Economic Recovery and Growth Plan (ERGP) before the end of the year, even as recession continues to bite harder.

In an attempt to downplay the discouraging economic data, the Office of the Vice-President said efforts to rejuvenate the economy yielded positive results in the third quarter.

It also blamed the dismal performance of the economy on the vandalism of oil and gas infrastructure in the Niger Delta, resulting in production shut-ins and lower oil output.

A statement by the Senior Special Assistant to the Vice-President on Media and Publicity, Mr. Laolu Akande, said: “Third quarter GDP growth figures released by the National Bureau of Statistics revealed a consistent growth in the agriculture and solid mineral sectors, indicating the success of the Buhari administration’s economic policies, even though overall the economy is still in recession.

“The over-riding impact of the oil and gas sector, where vandalism and sabotage of critical installations negatively affected production output, explains the persistence of the recession, as the non-oil economy posted a very slight growth.

“Efforts to resolve the Niger Delta situation are however continuing as the federal government has opened several channels of communication with all relevant groups in the Niger Delta.

“Also, urgent fiscal and monetary measures to spur the economy back to overall positive territory are certainly in the offing, including those targeting manufacturing.”

In another statement from the federal government’s Economic Management Team, the Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, added that the third quarter data released by the NBS showed that the Nigerian economy is still in recession.

According to him, the slight deterioration in national economic performance was largely due to the continued poor performance of the oil and gas sector, which worsened to -22.01% in the third quarter, compared to -17.48% in the second quarter of 2016.

He said the immediate cause of this was the steep decline in oil and gas production in the third quarter of 2016 due to acts of vandalism and sabotage of oil export facilities.

He also said the decline was also caused by the continued outsized influence of the oil and gas sector on the rest of the economy, as typified by its contribution to government revenue and foreign exchange earnings, which he said continued to be important motors of economic activity.

“Moreover, due to time lags, it is still too early for policy interventions of the federal government to begin to impact fully on economic activity,” he added.
There are however some “green shoots” of economic recovery beginning to emerge, Dipeolu said.

He said that on-going consultations to bring lasting peace to the Niger Delta had led to an increase in oil and gas production which if sustained at current prices, would bring a measure of relief to the economy.

He also said other key sectors of the economy showed encouraging signs of improvement.

“The growth in the non-oil economy, although still weak at 0.03 per cent, showed a return to positive territory after two consecutive quarters of negative growth. This was partly due to the continued good performance of agriculture and the solid minerals, two sectors prioritised by the federal government.

“Agriculture grew by 4.54 per cent in the quarter under consideration, of which growth in crop production at nearly 5 per cent was at its highest since the first quarter of 2014. Growth in the solid minerals sector averaged about 7 per cent.

“The financial services sector also experienced a rebound quite strongly in the period under review, growing by 2.85 per cent from a negative growth of -13.24% in the second quarter.

“The recently approved first tranche of $600m to be borrowed from the African Development Bank will also provide some relief in budgetary terms and supplement capital inflows.

“Indeed, there was a slight uptick of capital inflows into the economy in the third quarter of 2016. Overall capital inflows in the third quarter of 2016 increased by 74.84 per cent over the second quarter,” he added.

Dipeolu, however, noted that the performance of the manufacturing sector continued to be of concern given its key role in value addition and job creation in the economy.

Nonetheless, he was optimistic that the real sector would soon experience sustained improvement in its contribution to the national economy because of greater local sourcing of raw materials, expected improvements in infrastructure, especially in power supply and reductions in the cost of doing business.

He also stated that though inflation was still high at 18.3 per cent on a year-on-year basis, it had begun to level out on a month-on-month basis and should enable the deployment of more policy tools to support growth and employment.

[size=15pt]Moody’s 2.5% Growth Forecast[/size]

Some encouraging news also came from international ratings agency, Moody’s, which forecast that the Nigerian economy could expand by 2.5 per cent next year as long as it can keep oil output at 2.2 million barrels per day.
Moody’s senior analytical adviser for Africa, Aurelien Mali, told Reuters that the country’s fourth quarter growth could be close to flat.
Mali said increases in oil output would help Africa’s top oil exporter generate more dollars.

“With resumption of oil production and the dollars that should come, we expect that Nigeria would be able to accelerate the implementation of the budget,” Mali said.

“With an acceleration, we expect that (growth) could reach 2.5 per cent next year,” he said.

Moody’s downgraded Nigeria to B1, with stable outlook in April from Ba3. Mali said government’s inability to ensure increase in oil production in the medium term could exert negative pressure on its balance sheet and trigger another rating action.

However, he said the currency depreciation in June had compensated for government revenues because the country took action before it had a much bigger gap in its income. However, the currency weakness has not led to foreign inflows, Mali said.

Oil accounts for almost 10 per cent of Nigeria’s GDP. Mali said reforms aimed at increasing the share of non-oil taxes as a percentage of government revenues would be positive for ratings.

http://www.thisdaylive.com/index.php/2016/11/22/recession-worsens-on-ndelta-crisis-despite-agric-rebound/

According to the NBS, quarter-on-quarter (unadjusted for seasonality), real GDP, however, increased by 8.99 per cent.

During the quarter under review, aggregate GDP stood at N26.55 trillion (in nominal terms) at basic prices compared to N17.8 trillion in Q2 2016 and N24.31 trillion in Q3 2015.

Nominal GDP grew by 9.23 per cent relative to the growth recorded in Q3 2015 by 3.22 per cent.

On the other hand, the non-oil sector contributed 91.81 per cent to GDP in real terms, up from 91.74 per cent in Q2, which was largely driven by activities in agriculture (crop production), information and communications and other services.

The non-oil sector grew by 0.03 per cent in real terms in the period under review, reversing two previous quarters of negative growth in Q1 and Q2 2016.
In the non-oil sector, agriculture contributed 24.09 per cent to nominal GDP during the quarter, higher than 19.71 per cent and 24.51 per cent recorded in both Q2 2016 and Q3 2015, respectively.

There are plenty of positives here. The agric and other non-oil sectors have started yielding positive result.




Let Niger Delta continue with their bombings. We're in it together.

If anything, the region suffers most than any other part of the country.

It's not a rocket science and there is the common saying that "he who fetches firewood infected with ants invites lizards to his house".

The same way that the North East suffers the worst consequences of its support & harboring for Boko Haram is the same way the Niger Delta will suffer the worst consequences for the militancy. Already their governors are crying they're most affected by the bombings of oil facilities; such cries will increase by the time they can't even pay a dime any more.

No need to preach to a young man not to court leprosy if he's prepared and determined to live alone in the forgotten forest.

Truth is, whether u like it or not,the End is near,the signs are clear. only the Most High God can save us all.
The heart of men vaxing cold. Selfishness has taken over the world, people kill at will, cause hunger , mass killings, drought, food shortage, selfish leaders, lovers of money, lovers of themselves, anger, strive, sexual perversities, u name it.
May God help us all.

SillyMods:
Let Niger Delta continue with their bombings. We're in it together.
If anything, the region suffers most than any other part of the country.

Oga enviroMENTAList! The region has been suffering since only God knows when, so it isn't a new thing..

#Atiku2019

BeeBeeOoh:



Oga enviroMENTAList! The region has been suffering since only God knows when, so it isn't a new thing..

I tell u. Smh

It will only gets more worse as long as the grossly incompetent & certified illiterate remains the president.

BeeBeeOoh:



Oga enviroMENTAList! The region has been suffering since only God knows when, so it isn't a new thing..

Who is preaching to you?

Am I one of the ND governors crying on daily basis that they bear the brunt more than any other state in Nigeria?

The current set-back of their action on the Nigeria economy will surely be a thing of the past, if not immediate then in five to 7 years as Nigeria focuses more on other resources.

Paperwhite:
It will only gets more worse as long as the grossly incompetent roundly certified illiterate remains the president.

Let it get worse. PMB will remain till 2023 except he decides otherwise. He is not a lame duck or an IB who can be blackmailed by the antics of wailing zombies and economic saboteurs.

Pikin wey say im mama no go sleep, 'im too no go rest.

All over the world riots and violence spring up whenever there is injustice. If the federal govt had played its part, there would be little or no crisis in the Niger Delta. During racism, blacks revolted. During the reign of Gaddaffi the citizens revolted too. What the people of the Niger Delta are saying is that we are tired of the injustice. I don't support pipeline vandalism though but in other for Nigeria and any other country to move forward, there must be equity and justice.

I'm in Abuja now, and I can't help but weep at the Niger Delta. 90% of Abuja or more was developed with Niger Delta crude revenue. The people are saying enough is enough. No sensible government practices this parasitic system of governance anymore. True federalism or nothing!

And before you tell me how bad our Niger Delta governors are, start by telling us just how good your own governors are.

ellechrystal:
Truth is, whether u like it or not,the End is near,the signs are clear. only the Most High God can save us all.
The heart of men vaxing cold. Selfishness has taken over the world, people kill at will, cause hunger , mass killings, drought, food shortage, selfish leaders, lovers of money, lovers of themselves, anger, strive, sexual perversities, u name it.
May God help us all.

Do you believe In miracles? I can see you do, from your above religious speech. End time is not near, we've always been in end time and we still are. All that brought us here today is just a small and powerful disease called TRIBALISM.

Until miracle paints heart of tribalism and see everyone as one. What if there was no tribe, the world would have been one. No box to unchecked if you're Hausa, IGBO, Ijaw, or Yoruba.

Irrespective of the harsh economy, a good leader can bounce back the economy.

SillyMods:

Who is preaching to you?

Am I one of the ND governors crying on daily basis that they bear the brunt more than any other state in Nigeria?

The current set-back of their action on the Nigeria economy will surely be a thing of the past, if not immediate then in five to 7 years as Nigeria focuses more on other resources.

Then stop crying us a wolf nah..

BeeBeeOoh:



Oga enviroMENTAList! The region has been suffering since only God knows when, so it isn't a new thing..

thank u, and God bless u

BeeBeeOoh:
Then stop crying us a wolf nah..

Crying wolf? Have I ever moaned about the economic woes online or offline?

If anyone cries on daily basis here about the economic situation, it's you e-wailing zombies.

You support the economic terrorists and still come online to condemn the economic woes brought about by the terrorists actions!

You can't eat your cake and have it. Ko le werk!

I wonder the economic textbooks this government is using to analyze the system.

Agric rebounds? How do they mean? With empty silos everywhere? Everybody knows that this is harvest time and food prices are bound to crash yet the measure of agric performance is in the amount of food the govt is able to mob up from the excess harvest.

There is no growth anywhere if we must tell ourselves the truth.

[s]

littlewonders:


Do you believe In miracles? I can see you do, from your above religious speech. End time is not near, we've always been in end time and we still are. All that brought us here today is just a small and powerful disease called TRIBALISM.

Until miracle paints heart of tribalism and see everyone as one. What if there was no tribe, the world would have been one. No box to unchecked if you're Hausa, IGBO, Ijaw, or Yoruba.

Tribe was invented in the 15 century to divide us. Irrespective of the harsh economy, a good leader can bounce back the economy.

[/s]
tribe was invented im the 15th century?
by who plz?
do u even know a single thing about history?
even from d days of d bible, there were tribes
everthing u wrote here is complete trash

Bottomline

1. The failure of the FG to manage the ND crisis like reasonable adults was the main reason for the reccession.

2. Manufacturing drop was caused by useless forex policies.

3. More Job losses, less trade, less investment and banking slump were caused by TSA and drop in investors confidence


4. Most of this drop were not caused just by oil price or pdp but in the clueless response of this government to issues. All the sectors growth rates dropped compared to last year when Gejs policies where still in place... except Agriculture which is still much below the peak levels obtained during GEJ at 2014

Conclusion, buhari ignited the fire by pushing ND aside when he entered office. Looking for militants to prosecute and marginalising south south because he won Gej

When reasonable people were warning here on NL about bubu clueless approach at handling the NDA, zombies were defending their superman's ability to single handedly protect miles of pipelines.

Even now they are still encouraging him to do what he has failed to do before

SUMMARY:

1. Contrary to the widely held belief, Niger Delta crisis is not the main contributory factor to the nation's recession since the oil sector only constitutes less than 15% of the GDP. The president and VP are wrong to always premise the economic woes on plummeting oil revenue.

2. Lopsided foreign exchange policy is substantially responsible for the lull in productive activities in the manufacturing, agriculture and other sectors of the economy which constitute the remaining 85% of the country's GDP. In other words, Buhari's economic policies are the main reasons for the recession.

3. Even if hostility in Niger Delta ceases and global oil price rebounds, it doesn't guaranty our speedy recovery from recession since our GDP growth is not mainly galvanised by oil revenue inflow.

SillyMods:

There are plenty of positives here. The agric and other non-oil sectors have started yielding positive result.




Let Niger Delta continue with their bombings. We're in it together.

If anything, the region suffers most than any other part of the country.

It's not a rocket science and there is the common saying that "he who fetches firewood infected with ants invites lizards to his house".

The same way that the North East suffers the worst consequences of its support & harboring for Boko Haram is the same way the Niger Delta will suffer the worst consequences for the militancy. Already their governors are crying they're most affected by the bombings of oil facilities; such cries will increase by the time they can't even pay a dime any more.

No need to preach to a young man not to court leprosy if he's prepared and determined to live alone in the forgotten forest.

ok

ellechrystal:
Truth is, whether u like it or not,the End is near,the signs are clear. only the Most High God can save us all.
The heart of men vaxing cold. Selfishness has taken over the world, people kill at will, cause hunger , mass killings, drought, food shortage, selfish leaders, lovers of money, lovers of themselves, anger, strive, sexual perversities, u name it.
May God help us all.

My wife to be, Howdy?

OLADD:
SUMMARY:

1. Contrary to the widely held belief, Niger Delta crisis is not the main contributory factor to the nation's recession since the oil sector only contributes less than 15% of the GDP. The president and VP are wrong to always premise the economic woes on plummeting oil revenue.

2. Lopsided foreign exchange policy is substantially responsible for the lull in production activities in the manufacturing, agriculture and other sectors of the economy which constitute the remaining 85% of the country's GDP. In other words, Buhari's economic policies are the main reasons for the recession.

3. Even if hostility in Niger Delta ceases and global oil price rebounds, it doesn't guaranty our speedy recovery from recession since our GDP growth is not main galvanised by oil revenue inflow.

The 10% contribution

SillyMods:

There are plenty of positives here. The agric and other non-oil sectors have started yielding positive result.




Let Niger Delta continue with their bombings. We're in it together.

If anything, the region suffers most than any other part of the country.

It's not a rocket science and there is the common saying that "he who fetches firewood infected with ants invites lizards to his house".

The same way that the North East suffers the worst consequences of its support & harboring for Boko Haram is the same way the Niger Delta will suffer the worst consequences for the militancy. Already their governors are crying they're most affected by the bombings of oil facilities; such cries will increase by the time they can't even pay a dime any more.

No need to preach to a young man not to court leprosy if he's prepared and determined to live alone in the forgotten forest.

Hahahahahaha. The music has changed. No longer new sheriff and body odour in town, it is now "we are in it together".


Before now, we've been in it alone. So maybe you being in it with us will reset your wicked mind. You will begin to accomodate other people's feelings in your dealings in life.



Crisis that wasn't there at the first place, you evil minions urged buhari with your praises of new sheriff in town to go and create what he can't handle.


Now instead of you to equal urge him to restore peace back the way you urge him to restore crisis there, your evil mind can only come up with "we are in it together"


Height of wickedness. Their mind is, instead of pleasing these people agitating, let us be in it together. What a wicked set of people.


I doubt that people who sing along this chorus of being in it together can be Igbo, Ijaw, Hausa, Fulani, Tiv, Urhobo, etc except that particular tribe of the fallen angel.

[s]

PedroJP:





Hahahahahaha. The music has changed. No longer new sheriff and body odour in town, it is now "we are in it together".


Before now, we've been in it alone. So maybe you being in it with us will reset your wicked mind. You will begin to accomodate other people's feelings in your dealings in life.



Crisis that wasn't there at the first place, you evil minions urged buhari with your praises of new sheriff in town to go and create what he can't handle.


Now instead of you to equal urge him to restore peace back the way you urge him to restore crisis there, your evil mind can only come up with "we are in it together"


Height of wickedness. Their mind is, instead of pleasing these people agitating, let us be in it together. What a wicked set of people.


I doubt that people who sing along this chorus of being in it together can be Igbo, Ijaw, Hausa, Fulani, Tiv, Urhobo, etc except that particular tribe of the fallen angel.

[/s]

PedroJP:





Hahahahahaha. The music has changed. No longer new sheriff and body odour in town, it is now "we are in it together".


Before now, we've been in it alone. So maybe you being in it with us will reset your wicked mind. You will begin to accomodate other people's feelings in your dealings in life.



Crisis that wasn't there at the first place, you evil minions urged buhari with your praises of new sheriff in town to go and create what he can't handle.


Now instead of you to equal urge him to restore peace back the way you urge him to restore crisis there, your evil mind can only come up with "we are in it together"


Height of wickedness. Their mind is, instead of pleasing these people agitating, let us be in it together. What a wicked set of people.


I doubt that people who sing along this chorus of being in it together can be Igbo, Ijaw, Hausa, Fulani, Tiv, Urhobo, etc except that particular tribe of the fallen angel.

till today the president is still looking for tompolo..then his minions and slaves will keep shouting "we won't negotiate with economic terrorists bla bla bla "...now see the result..

Many persons will learn from this experience that the real owners of this country are those persons who feed the goddamn country...

Buhari is negotiating with bokoharam and even giving them monies but insists that tompolo must be caught at the expense of oil production and the survival of the masses..

Talk about a mumu administration mention buharis own..

If it's Niger Delta , I have not even an atom of fuccck to give


Na dem do dem

In God we trust o

The elites in Niger Delta better wake up now and take charge

PEJ, oritsejafor and other militants sponsors don't have the mental capacity to emancipate ND from her present situation
They are only after their pockets and how to blackmail the govt. for their freedom from probe

Tough time never last... Nigeria shall be great again.

OLADD:
SUMMARY:

1. Contrary to the widely held belief, Niger Delta crisis is not the main contributory factor to the nation's recession since the oil sector only contributes less than 15% of the GDP. The president and VP are wrong to always premise the economic woes on plummeting oil revenue.

2. Lopsided foreign exchange policy is substantially responsible for the lull in production activities in the manufacturing, agriculture and other sectors of the economy which constitute the remaining 85% of the country's GDP. In other words, Buhari's economic policies are the main reasons for the recession.

3. Even if hostility in Niger Delta ceases and global oil price rebounds, it doesn't guaranty our speedy recovery from recession since our GDP growth is not mainly galvanised by oil revenue inflow.

i totally agree with you. You are brilliant.

We are the ones keeping ourselves in recession through self sabotage.