I still find it funny that most people don't know why Nigeria economy went into recession, they love the incompetent lies of Lai Mohammed about the past government ruining everything. It's also myopic to think that if Jonathan were to still be in power, we would be worse off.
The truth about Nigeria's recession is this; it was caused by the president's unguided rhetoric and
uncultured body language.

Firstly, there is nothing we are buying today that we weren't buying 5 years ago, therefore it's not our purchase that put pressure on Naira
but withdrawal of funds by foreign investors. After the election, the president created instability with his unguided statements about how everyone is corrupt and how everyone is going to jail. The instability made foreign investors to liquidate their
investment and change their money to dollars. In the process of trying to flee, they were willing to buy dollars at any price, which lead to high exchange dollar rate. Even though some of them were not ready to run away, but want their money in dollars to save their investments from devaluation, the president gave a bad signal by banning deposit of foreign currency into dormiciliary accounts. That was enough for free market believers to see the draconian handwriting on the wall, that was the beginning of dollar rush.

To make matters worse, the president came up with another outrageous policy of rationing dollar to certain sectors and blocking many sectors out. That was the nail in the coffin which facilitated the emergence of free FALL. In the end, foreign investors took over $80B out of the economy within a short period and everything went down to free fall.

To those who believe it will be worse if Jonathan is still there, you are all wrong. Policy continuity and political stability will not let billions of dollars leave our shores within such tiny time frame. Even though the government might have income shortage, the private sector will weather the storm by their confidence in the market. The fear of the unknown created by PMB is responsible for the economic downturn not low oil price. Interest rate in America is currently at 0.5% (as at 2017) while it is 12% in Nigeria. JP Morgan Chase will not mind borrowing $50 billion from Feds at 0.5 and put in Nigeria for return of 2000 percentage profit. Citibank bank will do the same, likewise
US Bank Corp. Chase gave Buhari warning about the repercussions of his fixing policy before they pulled out, but his illiterate cyber warriors and misseducated e-soldiers said JPMORGAN can go to hell, they no longer believe in economic metrics since their messiah is in charge.

Funny enough we are all suffering today because of the stupid policy, but they find relief by blaming it on past administration and Gucci
appetite of average Nigerians. For your information, if your president "continues" with his unguided rhetoric, Naira will go down to N1000/1 $. But we thank God, he is no longer talking.

Culled From My Facebook Page!

You are spot on your analysis. When someone. Who does not understand common economic indices in the current world is in charge that's always the case in life you can't approbate and reprobate at the same time...when Obama was campagning for "change" in 2008 he told America what, why & how He will navigate the country outta recession which he did by not playing d blame game(He restored the battered middle class back to life) no story.

But here wat are getting is a government airing documentary just to tell it's citizens that their so called president is human and can even laugh & most times prefers not to talk, in a world where communication has been reduced to d finger tips.

A president that doesn't even deem it fit to go or extend a hand of friendship to people/region that tends to spurn him rather he's busy being who he was thought to be rather than who he is suppose to be to the Nation. Nonsense!!

okachie1:
You are spot on your analysis. When someone. Who does not understand common economic indices in the current world is in charge that's always the case in life you can't approbate and reprobate at the same time...when Obama was campagning for "change" in 2008 he told America what, why & how He will navigate the country outta recession which he did by not playing d blame game(He restored the battered middle class back to life) no story.

But here wat are getting is a government airing documentary just to tell it's citizens that their so called president is human and can even laugh & most times prefers not to talk, in a world where communication has been reduced to d finger tips.

A president that doesn't even deem it fit to go or extend a hand of friendship to people/region that tends to spurn him rather he's busy being who he was thought to be rather than who he is suppose to be to the Nation. Nonsense!!

My brother this is well scripted the more reason I don't engage these dark-minded never-do-wells called Buhari supporters they are immune to voice of reasons simply logic to address a faltering economy Buhari goofed yet they are still blaming Jonathan. The write up was a prediction for the economic method Buhari embarked upon despite being warned of its adverse effects and like a mutulla that he was he nearly brought Nugeria to her knees. Woe betide any souks that want this disaster to return in 2019

Ratello:

I still find it funny that most people don't know why Nigeria economy went into recession, they love the incompetent lies of Lai Mohammed about the past government ruining everything. It's also myopic to think that if Jonathan were to still be in power, we would be worse off.
The truth about Nigeria's recession is this; it was caused by the president's unguided rhetoric and
uncultured body language.

Firstly, there is nothing we are buying today that we weren't buying 5 years ago, therefore it's not our purchase that put pressure on Naira
but withdrawal of funds by foreign investors. After the election, the president created instability with his unguided statements about how everyone is corrupt and how everyone is going to jail. The instability made foreign investors to liquidate their
investment and change their money to dollars. In the process of trying to flee, they were willing to buy dollars at any price, which lead to high exchange dollar rate. Even though some of them were not ready to run away, but want their money in dollars to save their investments from devaluation, the president gave a bad signal by banning deposit of foreign currency into dormiciliary accounts. That was enough for free market believers to see the draconian handwriting on the wall, that was the beginning of dollar rush.

To make matters worse, the president came up with another outrageous policy of rationing dollar to certain sectors and blocking many sectors out. That was the nail in the coffin which facilitated the emergence of free FALL. In the end, foreign investors took over $80B out of the economy within a short period and everything went down to free fall.

To those who believe it will be worse if Jonathan is still there, you are all wrong. Policy continuity and political stability will not let billions of dollars leave our shores within such tiny time frame. Even though the government might have income shortage, the private sector will weather the storm by their confidence in the market. The fear of the unknown created by PMB is responsible for the economic downturn not low oil price. Interest rate in America is currently at 0.5% (as at 2017) while it is 12% in Nigeria. JP Morgan Chase will not mind borrowing $50 billion from Feds at 0.5 and put in Nigeria for return of 2000 percentage profit. Citibank bank will do the same, likewise
US Bank Corp. Chase gave Buhari warning about the repercussions of his fixing policy before they pulled out, but his illiterate cyber warriors and misseducated e-soldiers said JPMORGAN can go to hell, they no longer believe in economic metrics since their messiah is in charge.

Funny enough we are all suffering today because of the stupid policy, but they find relief by blaming it on past administration and Gucci
appetite of average Nigerians. For your information, if your president "continues" with his unguided rhetoric, Naira will go down to N1000/1 $. But we thank God, he is no longer talking.

Culled From My Facebook Page!

tnx 4 d information

Ratello:


My brother this is well scripted the more reason I don't engage these dark-minded never-do-wells called Buhari supporters they are immune to voice of reasons simply logic to address a faltering economy Buhari goofed yet they are still blaming Jonathan. The write up was a prediction for the economic method Buhari embarked upon despite being warned of its adverse effects and like a mutulla that he was he nearly brought Nugeria to her knees. Woe betide any souks that want this disaster to return in 2019

Ignoring them is best.

When you talk, it will lead to insults and classification as an "iPod yoot", if you dare defend yourself, one yeye moderator will ban you till middle of last year but fact still remains; how come all negative predictions about what will happen during a Buhari presidency came to pass ? Mind you, these predictions were based on the mans antecedents. You guys should be very very afraid right now, you should be scared of where Buhari has plunged this country into in all indices especially the politico economy and security wise, ask your senators to as a matter of urgency start impeachment proceedings against Buhari so we can still have a Nigeria to call our own by next year

RZArecta2:
When you talk, it will lead to insults and classification as an "iPod yoot", if you dare defend yourself, one yeye moderator will ban you till middle of last year but fact still remains; how come all negative predictions about what will happen during a Buhari presidency came to pass ? Mind you, these predictions were based on the mans antecedents. You guys should be very very afraid right now, you should be scared of where Buhari has plunged this country into in all indices especially the politico economy and security wise, ask your senators to as a matter of urgency start impeachment proceedings against Buhari so we can still have a Nigeria to call our own by next year

Nigerians are their own nightmares for crying out loud history had already revealed who Buhari was and his antecedents yet some miserable 15 million + souls brought this disaster on us all. My job is to keep exposing this government built on lies for the whole world to see. Its a pity most Nigerian youths are like donkeys "upstairs"!

He thought this was a military regime.

opribo:
He thought this was a military regime.

My brother Buhari is a confirmed dullard true true more like Herod Jesus called a Fox in the Bible (Luke 13: 31-32)

I have always maintained since 2016 that Buhari is 200 percent responsible for recession and I further maintain Buhari rascally forces entry into power in 1984 is responsible for 80 percent of the rot Nigeria has become.. The man is the worst thing to happen to the black race and I pray daily recieves his punishment here on earth as well as in he'll where he clearly belongs

https://www.nairaland.com/2128058/pleasei-want-know-achievements-general

Anyone who had sense knew buhari will be a failure. some intelligent people voted him before out of pure fantasy. But come 2019, only wicked dumb bigots will vote Buhari

A leopard cannot change it's spots.... Even his family members Aisha, Zahra have come to understand that Buhari is irredeemable. The name Buhari is synonymous to failure

OK

ManirBK:
OK

Is that all you can say?

Not that the Buharideens don't know the cause of Nigeria's woes but they are too ashamed to accept it so they try hard to blame Jonathan. But I have noticed recently that they are beginning to be fed up with the chain. Their patron only recently wrote an open letter to their lord and master.

Not surprised. Someone who couldn't advance his cattle farm in years, how do you expect him handle an economy like Nigeria's?