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Nairaland Forum / Nairaland / General / Politics / Nigeria Will Continue To Experience Sluggish Recovery – Fitch (7800 Views)
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Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by jaye21: 6:55am On Jun 12, 2019 |
well? |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Splashme: 6:56am On Jun 12, 2019 |
Aw |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Jaqenhghar: 7:00am On Jun 12, 2019 |
Point of correction, there s no recovery this is regresssion. In recovery there is some measure of progress 1 Like 1 Share |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Matrixoba: 7:08am On Jun 12, 2019 |
Should Fitch first inform us that our economy is sinking by the day? Dont we individually feel the rocking? It is hard to believe that people just want to ignore the plain truth. Is this how an economy should be? The statistics are there. How many youths are gainfully employed? How many mindless killings, kiddnapping, etc? Should we deliberately close our eyes. Remove the sentiments, the economy is really depressed. 2 Likes 1 Share |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Augiiee(m): 7:14am On Jun 12, 2019 |
Dshocker:V. P. Osinbajo (Yoruba) heads the economic team The finance minister was a Yoruba until her resignation CBN Governor is a also a hausa man right? |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by urahara(m): 7:30am On Jun 12, 2019 |
Ikeboboafri: Cc grandstar |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by natznext(m): 7:32am On Jun 12, 2019 |
ITbomb: Was carefully going thru the thread to see any constructive comment/analysis, but couldn't find none b4 this, all i saw was crazy divided blockheaded youths This administration isn't here to solve any problem, they're fox in sheeps clothings, Just like Atiku is a naked Fox FIX POWER AND SECURITY and plenty other things in Nigeria will fix itself Alot of businesses shut down daily bec of the absence of steady power and security I have farmlands i can't farm bec of security I have processing firm plans i cant float bec providing my own power will greatly reduce profit margin I have alot of friends that have sold businesses and abandoned properties here and moved abroad because of insecurity and no power 3 Likes |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Splashme: 7:33am On Jun 12, 2019 |
Sad |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by ehissi(m): 7:35am On Jun 12, 2019 |
Splashme: Why bother arguing with people who believe they know it all and hence will never learn......... Is it not Nigeria that has been tactically begging for loan since? They offered help via a loan deal because they felt we were too important in region, because underperformance in our economy bears a ripple effect across the west african table... Government smiled for the cameras and said we dont need loan, then went to beg behind the cameras for the same loan, they gave advisory conditions for the loan, we dey vex........ Make them gerrout, after all China is there to give us loan, without those nonsense, unreasonable conditions now, no be so? When Nigeria become the next Djibouti or Zambia, then their brain will reformat, then folks like him will forget their comments here and start retalking frosh rubbish..... 1 Like 1 Share |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Nobody: 7:36am On Jun 12, 2019 |
Abbeg Fitch leave us alone!! We're going to the next lebul whatever that means |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by ehissi(m): 7:41am On Jun 12, 2019 |
natznext: Not quite....... That solution you offered boost the mico economy to a large extent.... We are here as a nation because for an import based economy we have the worst, counter productive FOREX policy. Thats why we are in trouble economically, it driving away investors. We had the insecurity and power problem before 2015, but we were not where we are now......what changed? Our FOREX policy 1 Like 1 Share |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Wiseandtrue(f): 8:03am On Jun 12, 2019 |
jcross19:Don't mind him!!! As if Buhari no still remove subsidy Mtcheeeeeeew always giving excuses! Nothing to show that they know what they are doing!!! |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by grandstar(m): 8:16am On Jun 12, 2019 |
natznext: You made some points. I feel however that the biggest bane is the unnecessarily high cost of credit. Nigeria's budget deficit is relatively low so there no reason to justify the 25-30% interest rates. Just bringing the rates down to less than 10% will be a shot in the arm for the business sector 1 Like |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by natznext(m): 8:20am On Jun 12, 2019 |
ehissi: You re right tho, we were better off in 2015 than now However, 2015 isn't the best we can be, we can't go back to 2015 and think we have arrived, 2015 isn't even good at all from my point of view, but if you're saying you'd pick 2015 tiny ease over this Hell, I cannot disagree with you. |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by veesion: 8:25am On Jun 12, 2019 |
liverpool72:They betrayed themselves not just the whole of the south They feel that PLAYING safe will save them The BOOMERANG is at the corner Come to think of it,its all for selfish reasons that some of the their elites keep asslicking the North thank God for some of them like Obj,fani kayode,fayose etc that have already seen the handwriting on the wall and have kept dishing out warnings, but they won't hear until it's too late |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by olas24u(f): 8:26am On Jun 12, 2019 |
Since I was born,I have never heard that the economy is good,it will always going down year in year out. |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by natznext(m): 8:26am On Jun 12, 2019 |
grandstar: I'm a figure-layman However why do we have credits at 25-30% interest rates, are they in any way justified? Do they really need those high interest rates to stay in business? You know power is a real issue for them too, most of them run their businesses on diesel So can the credit houses really survive with single digits interest rates? 1 Like |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by NothingDoMe: 8:35am On Jun 12, 2019 |
SillyMods:What about the latest gist of CBN floating the exchange rate? |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by jcross19: 8:44am On Jun 12, 2019 |
SillyMods:blame Jonathan. |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by jcross19: 8:49am On Jun 12, 2019 |
mu2sa2:I sight you BMC 30k stipend . |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by grandstar(m): 8:50am On Jun 12, 2019 |
natznext: The high cost of credit is due to how the monthly allocation is paid out to the 3 tiers of government. The dollar earning from crude oil sales is dished in naira to the 3 tiers of government. So, let's say the government pays out $2b this month. The government will pay out $2b x 360= $720. If it's $3bn, then $3b x360= N1 08trillion.. These payout leads to excess money in circulation which can lead to high inflation. In order to subdue inflation, the CBN increases interest rates high enough to mop up excess money. Since the CBN rate is the benchmark which is high in double digits, commercial banking rates too will be high. Soludo wanted to change the system and end the excess money by paying the 3 tiers of government in dollar certificates which can be converted to Naira at commercial banks. This does not lead to any excess money Better,it is as if dollar is now chasing Naira and will firm up the currency. And best of all, since there's no excess money in circulation, the CBN can end it's tight monetary policy and lending rates will begin to drop. However, the governors didn't like it and YarAdua sympathised with them. Remember,it is redeemable only in Naira and not dollars. 2 Likes 1 Share |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by lastempero: 9:01am On Jun 12, 2019 |
Artixmentor: We all have been self sufficient but government policies have been the problem. |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by liverpool72(m): 9:47am On Jun 12, 2019 |
CaptainVal:i have one afonja living in my area who has been supporting the dullard for decades funny enough the small rickety car he has cost only 11k to fix but he couldn't do Dat and has been wearing one coloured like boxers for years coming out to shout dullard everytime ,educated as he his still beg wife money to play games Dat was when I concluded that leaving this country in the hand of the present afonja and the dullard is a total disaster idiot |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by natznext(m): 9:50am On Jun 12, 2019 |
grandstar: So with just a 3 point agender the country is set for a turn around, Then we can start looking into other issues and with your last paragraph these changes cannot happen with these present crop of politicians |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Charly68: 9:55am On Jun 12, 2019 |
Is this a curse or prophesy ? We reject it in Jesus name |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by ITbomb(m): 9:59am On Jun 12, 2019 |
grandstar:Do you think 10% interest rates will change the narrative when you are using N40 to produce a N50 product while your counterpart in China or Ghana is producing the same product with N20 because of cheap, reliable and robust power supply They produce with N20, bring to Nigeria with N10 and still make a profit of N20 |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by ITbomb(m): 10:04am On Jun 12, 2019 |
ehissi:India got to where it is because of the development of the micro economy which drives less dependency on imports and consequently forex We can't expect to keep praying for favorable forex so that we continue importing The big investors we are expecting still needs micro business to sustain the chain of supply and raw materials Power supply, security then probably a robust steel, aluminum and petrochemical plants are all young Nigerians need to build that self-sustaining economy |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Willie2015: 10:55am On Jun 12, 2019 |
SillyMods: You should focus on the message.... How will a country move forward with large infrastructure deficit, acute power supply shortage and security challenges..... Just tell me exactly what PMB is doing about the above listed problems..... Crude Oil had been a curse to Nigeria ....and we are highly dependent on it as stated by the Report.... PMB had spent $340 million dollars and additional N27 billion on to search for oil in Lake Chad Basin alone .... thats wasteful ..... With double digit inflation, subdued GDP growth, unemployment at over 30%. & low fiscal revenue.... U are callin Fitch Agents of Doom ...... Haba No wonder Nigeria became the poverty headquarter of the World ..... |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Willie2015: 11:01am On Jun 12, 2019 |
grandstar: This is also Henry Boyo line of thought too. I hope we have a govt that can give this idea a chance .... Maybe it will cure the excess money problem facing by CBN for a decade... |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Nobody: 11:06am On Jun 12, 2019 |
SillyMods: You supported the dullard when he said that there's nothing like subsidy. You supported the dullard when he increased the fuel pump price in order to remove the imaginary subsidy. Now you're here supporting the dulllards again for refusing to remove the imaginary subsidy... Are u OK at all? |
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