[b]This thread is of course a response to this https://www.nairaland.com/2590889/see-what-happening-nigerias-economy

For us to understand and appreciate what the new government has done or not done for the country, it’s very important to revisit the type of economy it inherited from the last regime as enumerated below:

1. The Nigerian economy operates a budget which is heavily skewed in favour of recurrent expenditure (about 90%) against capital expenses (about 10%) as represented by 2015 budget here http://www.punchng.com/news/jonathan-signs-n4-425tn-2015-budget/

Implication of this is that there will be no real development in the core areas that sustain and improve economic development.

2. Nigerian economy is largely dependent on crude export. Even the crude price has fallen below the benchmark price ($53 per barrel) on which the 2015 budget was based. Crude now sells at around $47 per barrel.

3. As at April 2015, the Federal Government of Nigeria had borrowed $4.4bn to pay salaries of its workers for March and April 2015. http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html

4. GEJ met the reserve at $47.7bn in 2010 but still managed to reduce it to $29.6bn despite that crude sold for an average of $100 per barrel (peaked at about $140/barrel). The country’s FR plays a huge role in giving confidence to foreign investors in Nigeria’s economy. The higher the value the higher the confidence in the economy and vice versa.
http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html[/b]

I could go on and on but these will suffice for now.
Now, let’s see OcheJoseph ‘s points one after the other:

ochejoseph:
‎
Nigeria De-listed By JP. Morgan ,

http://www.bloomberg.com/news/articles/2015-09-10/investors-love-affair-with-nigeria-wanes-as-jpmorgan-cuts-bonds

Yes, Nigeria will be delisted from Bond Index of JP Morgan. However, it amounts to crass ignorance for any sane analyst to want to blame the government of the day. JP Morgan started the process of reviewing Nigeria’s continued participation in its bond index in January of this year given the fact that we had depleted our FR to an abysmal level while our currency continued to lose values.

For Nigeria to continue to participate in the BI, the conditions given by JP Morgan are very detrimental to our economy. Nigeria will have to devalue the Naira and possibly will exchange for about N350 to a dollar. This will drive up inflation which means cost of imports and even local goods will go up. Cost of doing business will shoot up and productivity will expectedly drop which will eventually lead to massive retrenchment by the companies.

So, should Nigeria have chosen to remain or accepted to be delisted? I wait for your answer.

60,000 Nigerian loose Jobs in the construction sub sector - NLC

http://www.channelstv.com/2015/09/08/nlc-says-60000-nigerian-workers-lost-jobs/

What do we expect when the FG as at May 29 had not released a kobo towards capital development? The capital expenditure in the 2015 budget is paltry 10% of about N4.5tn and NOTHING had been released as at the exit of the last govt. So what miracle do we expect?

Zenith Bank Sacks 1200 workers in a single day

http://www.premiumtimesng.com/business/4819-zenith_bank_sacks_over_1_200_employees.html

This is too cheap and very misleading. Job losses are a constant part of any economy and if it’s not as a result of a government’s policy or not on an industry-wide scale, you cannot put the blame on the government. Even in the link you provided, it was clearly stated that the layoff was not for any reason of threat or loss as quoted

“One thing that is clear is that Zenith Bank is not under any threat,” the source, who spoke with our reporter on condition of anonymity. “With the current crisis in the banking industry in the country, it is incumbent on any bank that wants to growth to bend backwards to re-strategize and restructure its operations to expand and grow.

Is the OP insinuating that there were no job losses during Jonathan’s regime? Or that every job loss was due to his mismanagement of the economy?

Naira in free Fall - Business Day

http://businessdayonline.com/2015/09/naira-weakens-on-black-market-as-dollar-demand-grows-2/

At some point during GEJ’s era, the naira exchanged at above N235 to a dollar. That it trades at N220 currently represents an overall gain from N235/N240. The CBN is on a mission to make it difficult if not impossible, for stolen dollars from our reserves to be easily exchanged or transferred abroad. Besides, the fact is that crude price has dropped and our over dependence on imported goods among others have naturally put pressure on the naira.

Nigerian Economy slumps - NBS

http://www.vanguardngr.com/2015/08/nigerian-economy-slows-in-q2/

The headline reads “Nigerian economy slows in Q2” and not “Nigerian Economy Slumps”, Both are not same and don’t mean same thing.

The quarter 2 referred to represents April, May and June of 2015 and GEJ was in charge in April and May. Does it then make any sense to blame a presidency which was in charge of one month out of three months for the slow down in the growth?

Again, the fact is that the economy would have collapsed completely had GEJ managed to win the last election. The economy was already on a downward slide by the time we voted him out. So, for anyone to attempt to put economic woes that we may currently be experiencing on PMB/VPYO smacks of irresponsible partisanship.

CHINA : Nigeria's biggest Trading partner and Investor, Snubs Nigeria over Buhari’s Behaviour

http://uncova.com/china-snubs-nigeria-over-buhari-as-it-holds-africa-investment-summit

What is the news here? Must Nigeria do business with China or any other country for that matter?
Nigeria will do business with anyone whose policy and business terms and conditions favour her. This is no rocket science.

Nigerian Investors loose 311 Billion in 24 hours - Daily Trust

http://www.dailytrust.com.ng/news/business/stocks-lose-n311bn-bonds-suffer-after-jp-morgan-index-expulsion/110194.html

The loss is as a result of JP Morgan’s delisting and it was definitely expected following the announcement. The loss is not Nigeria’s loss but investors. When investors have gained in the past, was the gain given or shared with the country?

As I said earlier, CBN/DMO/MOF and Nigeria as a whole has taken the right decision to stand up to JP Morgan’s manipulative tendencies. We cannot because of foreign or even local investors accept conditions that could bring the country to its knees.

The above is what happens when underage voters brings a man with fossilised ideas to man Africa's biggest economy.

The sooner the APC and the sai baba broom wielding herbalists realise that these "autopilotism" is a recipe to economic and social anarchy the better for Nigeria.

The truth be said Buhari needs help he Should ask For it fast before things get out of hand

NB: Before you start throwing insults read the post, before you rain abuses think , before you post nonsense use your brain it's there to be used.
May God Continue to Bless Nigeria and Nigerians

If anyone needs to use their brain, it’s you and your co-travellers.

You lots preferred we continue with a failed president/government. You wanted us to continue with a regime that could not manage surplus and bounty harvest in times of scarcity. You wanted us to continue with a government which recognized stealing as the norm. You wanted us to continue with a government of wastes; a government that placed militants above law abiding citizens; a government that couldn’t guarantee security such that a portion of the country was in control of some rag tag terrorists.

Buhari ison a mission to stop the bleeding the economy was going through. He is on a mission to prevent a very bad situation from getting worse. He is on a mission to restore our lost glory, sanity, accountability and pride where STEALING WILL BE SEEN AS CORRUPTION.

May God continue to guide President Buhari & VP Osinbajo aright
May Nigerians prosper better under his selfless leadership

CC: Lalasticlala Seun Obinoscopy

The paid Goon again.

Always on time to defend the Presidiot, He's as predictable as a pig within stone throw from a pile of faeces.

@ topic, trash as usual. Trillions of Naira have been lost by investors and this one is here wanking. Buhari as usual has no idea what's going on, That is why we need to see his genuine WASC result, I'm sure he got Z9 in economics not even F9.

SeverusSnape:
The paid Goon again.

Wailers and common sense = Words and opposite

SeverusSnape:
The paid Goon again.

was expecting to see you or whynotthetruth on the thread and i wasn't dissapointed...

SeverusSnape:
The paid Goon again.

I think if people like you,ecoterrors and the rest can choose to be stupeed and unintelligent without being paid,then it would be more reasonable for people like passingshot to choose to defend the truth without being paid,cos naturally people are honest and upright.Just because u sell ur conscience for money doesn't mean some one needs money to defend the truth.


fool...why don't u try bringing up ur analysis?The day this dunderhead,temitemi1,mogidi or ecoterrors bring up an intelligent analysis,i shall deactivate my account with no hesitation.I dare all of u....you are just a cheap slave

The irony of Jonathan's economy misrule and mismanagement,is that we are all bearing the brunt.

His ass lickers inclusive.

PassingShot:
Wailers and common sense = Words and opposite

Zombies and brain = God and devil

freedom96:
fool...why don't u try bringing up ur analysis?The day this dunderhead,temitemi1,mogidi or ecoterrors bring up an intelligent analysis,i shall deactivate my account with no hesitation.I dare all of u

Malu, you people are just zombies, And zombies ain't gat no brain; Is there any sense educating senseless living dead?

When you're schooled, You attack the messenger and leave the message, I'm paying you in your own coin.

Get used to it you pathetic jihadist!

SeverusSnape:

Zombies and brain = God and devil

all u are good at is insult....i hope it's not something u inherited.Tribalistic idiiot

Any NLder way fit read all dis story finish deserv Nobel price

freedom96:
all u are good at is insults....i hope it's not something u inherited.

....All you're good at is stupidity and illiteracy. You're hoping eh...I know you inherited it from your fore father Usman Dan Fodio

SeverusSnape:

....All you're good at is stupidity and illiteracy. You're hoping eh...I know you inherited it from your fore father Usman Dan Fodio

thank god my fore father is known,it means I have a family.Who is ur fore father?baby factory product

A new govt is in place and things arent getting better thus, they started looking for who to blame. It shows they have no real solution @ hand.

Great! God bless Nigeria & Long live the president of the Federal Republic of Nigeria.

Dharniel:


was expecting to see you or whynetruth on the thread and i wasn't dissapointed...

Bros... kindly mention me early enough in threads like this ...because APC and buhari needs to he told the truth...and that's our duty

all this amala economist no get job at all. how will this write up change the fact that zoogeria lost $6 billion, 60,000 construction job lost, 1200 banking jobs lost, food prices rising rapidly in d last 4 months due to buari's olodoness and dullardness. no fertilizers for farmers again.

drss:
all this amala economist no get job at all. how will this write up change the fact that zoogeria lost $6 billion, 60,000 construction job lost, 1200 banking jobs lost, food prices rising rapidly in d last 4 months due to buari's olodoness and dullardness. no fertilizers for farmers again.

u guys just keep thinking from the anus
especially this one that has decide to remain fuulish for the rest of his life

SeverusSnape:

....All you're good at is stupidity and illiteracy. You're hoping eh...I know you inherited it from your fore father Usman Dan Fodio

freedom96:
thank god my fore father is known,it means I have a family.Who is ur fore father,baby factory product?

Yours was as a result of a rabid gorilla raping your whorish mother.

pasiing

SeverusSnape:

Yours was as a result of a rabid gorilla raping your whorish mother.

not usman danfodio anymore?Bastards never fail to disappoint...and please tell us your fore father.Mine is danfodio

Why can't some partisan hacks see beyond their nose? Is it not bonkers that the largest economy in Africa does'nt have cabinet ministers or we'll defined policy three months after change of government? It's crazy! Investors are concerned and the economy is in a free fall and who is to blame? "Wailing wailers"!!! South Africa and our other competition in Africa and the world can't belive their luck with the kind of leadership nigeria now has.

freedom96:
not usman danfodio anymore?Bastards never fail to disappoint...and please tell us your fore father.Mine is danfodio

Danfodio is an animal, He's a human gorilla, didn't you know?

He's a pedophilic goblin. You freedom96 took after him.

Wow, op God bless u, but some of those who have been baptized in the hypnotism of Gej will not see sense in your detailed analyses.

Symphony007:
New governments in serious countries state announcing key cabinet positions and articulate salient policy BEFORE their inuagration, do you think is for show? They understand economics and know that an hour of uncertainty can wipe off all the market gains made in 4 years. This government has been acting like a blind man in a dark room and the economy is tanking and they still don't know what to do.

Many of u people believe that the economy downturn we are experiencing now was cause by PMB for failing to name his ministers that will work with him, but it's like many of u have forgotten that this crash started in gej administration.

SeverusSnape:

Danfodio is an animal, He's a human gorilla, didn't you know?

He's a pedophilic goblin. You freedom96 took after him.

I think I should leave u here cos it's apparent you are an idiiot and u are beating me with experience

New governments in serious countries state announcing key cabinet positions and articulate salient policy BEFORE their inuagration, do you think is for show? They understand economics and know that an hour of uncertainty can wipe off all the market gains made in 4 years. This government has been acting like a blind man in a dark room and the economy is tanking and they still don't know what to do.

Hopelessness on full display here. Your cries and long essays just started, stay close to your keyboards. You will be writing more of these on behalf of your dullard from Daura.

PassingShot just redefined AWESOME here.

This piece is equivalent to dropping a nuclear bomb in the middle of China- you see decapitated bodies flying in all directions- in this case, those of Wailers as is evident from their responses.

Apparently they simply can't counter a single point raised here, rather they go after the Op himself, throwing feeble jabs that can only do as much harm as a teething toddler's bite would to the skin of a Rhino.






Ps: PassingShot, you might wanna take another look at the figure quoted in Line 3, item 3 (paragraph 6). Think that figure should be in Naira.

Again, excellent analysis.



Lalasticlala, was it you I saw standing close to Obama on CNN??

Symphony007:
Why can't some partisan hacks see beyond their nose? Is it not bonkers that the largest economy in Africa does'nt have cabinet ministers or we'll defined policy three months after change of government? It's crazy! Investors are concerned and the economy is in a free fall and who is to blame? "Wailing wailers"!!! South Africa and our other competition in Africa and the world can't belive their luck with the kind of leadership nigeria now has.

On the contrary, Nigeria is in better hands with full prospects.

The three months past were to lay a different but better foundation for the incoming ministers.

When GEJ ushered in his ministers within two months, what was the outcome? Pains, sorrows, stealing and battered economy.

Chill and see beyond your nose.

freedom96:
who is your fore father?

My fore father is a great man. You may probably know him.

It was clearly obvious the "analyst" didn't understand the contents of the headlines he presented in his piece. How can any sane mind blame PMB for our Q2 economic performance? Just plain old cluelessness from the eternal wailers.

Kudos P/Shot.

passingshot, Nigeria didn't borrow up to that amount($473billion) to settle the wages and salaries of it workers. I guess you made a mistake there

Apart from my above observation, you are 100% right about everything you said, but unfortunately there are so many dummies(PDP goons) here who won't be able to grab what you said..


Kudos man