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Nairaland Forum / Nairaland / General / Politics / Nigeria’s Economy Shrinks, Recession Imminent (31765 Views)
Nigeria's Economy Is Finally Out Of Recession - World Economics / Nigeria’s Economy Shrinks By 2.2% In Third Quarter / Recession: FG’s Non-Oil Revenue Shrinks By N134bn (2) (3) (4)
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Re: Nigeria’s Economy Shrinks, Recession Imminent by DropShot: 1:49pm On May 21, 2016 |
EbolaParasite:So, you mean subsidy was paid and the govt lied against itself by saying no subsidy was paid? Wonderful reasoning. Pls read about deregulation. The reason it was 86 then was because the govt was still providing forex at official rate of 199. But now that the govt can't provide dollars, it's 145 because marketers source for more expensive forex. 1 Like |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Klington: 1:49pm On May 21, 2016 |
9jatatafo:when fertilizers subsidy has also bn removed ![]() |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Klington: 1:50pm On May 21, 2016 |
all hail APC qwömenti 1 Like |
Re: Nigeria’s Economy Shrinks, Recession Imminent by SycophanticGoat: 1:51pm On May 21, 2016 |
By the mention of the name Buhari, every facet of the economy must recede... ![]() 1 Like |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Kingspin(m): 1:53pm On May 21, 2016 |
RickyTan:Your ex president buhari should be question more, he has seen it all. 1 Like |
Re: Nigeria’s Economy Shrinks, Recession Imminent by snailspeed: 1:55pm On May 21, 2016 |
DropShot: The FG has not deregulate. They just hiked the fuel price! Are you this ignorant or your zombiism is getting the better of you? 5 Likes 1 Share |
Re: Nigeria’s Economy Shrinks, Recession Imminent by 9jatatafo(m): 1:55pm On May 21, 2016 |
Klington: Shifting to mixed cropping and rooting for organic fertilizers 1 Like |
Re: Nigeria’s Economy Shrinks, Recession Imminent by RickyTan: 1:57pm On May 21, 2016 |
Izontubo: "Meticulously and tactfully handle Niger Delta?" I agree PMB has not done enough in ND. One area I agree he mismanaged. BC he was concentrating on Boko Haram and recovering looted funds. BUt bombing pipeline will sadly have to be met with force. I hate to admit this but this is what will happen. Tompolo Bombing leaves PMB with no choice now. After all the bombings we will all start from square zero. |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Fyno: 1:57pm On May 21, 2016 |
DropShot:we knew it was there before pmb came but its like taking a dying patient to an emergency unit and the doctor insist you must pay for card and deposit a certain amount before he attends to the patient. What was Pa Bubu doing that it took him 6 months to constitute his cabinet, a whole 6 months without leadership in an economy heading towards recession, what miracle do you expect? And the worst part is that all we have as ministers are career politicians whose only work has been to keep praising the president as the best Nigeria has ever had with nothing on ground to show for it. |
Re: Nigeria’s Economy Shrinks, Recession Imminent by InvertedHammer: 1:58pm On May 21, 2016 |
/ What will be will definitely be. Until Nigeria diversifies away from "one commodity" economy, any meltdown in oil price will make life a living hell for her citizens. The only good news for now is that oil may be preparing to snap back to the 70-80 region. It seems that the supercycle low ended around $27/barrel. \ |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Nobody: 2:01pm On May 21, 2016 |
He achieved all that you are suffering today. Why are nigerians complaining if PMB improved anything ......rather he reduced. Don't get me wrong GEJ did his best and PMB is doing his best. Let's not digress from the what I said earlier. ?........ let's suspend blaming and accusing ...... let's focus on unity and maximisation of all the strength that's available . the problem is Bad Economy. The solution is A team of Economist to steer us through this rough weather and PMB. the question is..... do we have the right guys to do the job? The answer is YES. Now, ask why the delay?...... and answer tge question yourself ![]() ![]() ![]() ![]() ![]() RickyTan: |
Re: Nigeria’s Economy Shrinks, Recession Imminent by southpole: 2:01pm On May 21, 2016 |
The difference between GEJ and PMB..... When you consider the issue of subsidy removal you will come to the conclusion that PMB is more and highly intelligent than GEJ. PMB knew that many people will reject the idea of subsidy removal so he decided to use the intelligence services and other influential apparatuses and secretly approached, penetrated and persuaded those unions and civil right organisations that have good influence on the people and whose actions can wart the policy, before he finally made the announcement. This informed the reason why one union after the other were announcing that they will not take part in the nlc strike. In America for instance the president will secretly meet with key senators both from the ruling party and the opposition concerning any policy he want to make so as to win their support and help him persuade other senators. This is what is done every where but GEJ lacks this basic common sense. I met someone from yenegoa who was in some of these secret meetings by PMB machineries he confessed to me that he now know why these hausa pple are always ahead. |
Re: Nigeria’s Economy Shrinks, Recession Imminent by macaranta(m): 2:02pm On May 21, 2016 |
googlepikins: Origin or Ciroc...got to buy you a crate.Best coment ever 1 Like |
Re: Nigeria’s Economy Shrinks, Recession Imminent by jimmynauty: 2:04pm On May 21, 2016 |
Whizzdom: this is what you should have advised the sheriff in town loooooooong time instead of him galvanising from pillar to post shouting fighting corruption.... see now that shrinking economy is fighting him, zombies and wailer alike... |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Bollinger(m): 2:09pm On May 21, 2016 |
SeverusSnape: What do you mean by "We saw it coming"? Nigeria has been in a recession since independence. What has been propping up Nigeria for years has been the proceeds from oil and that is insane. Wind don blow. Foul yansh don open. For a country to depend on one major source of revenue is mind boggling to say the least. Nigerian just love blaming everybody for something they caused. America, boko haram, Buhari, Kai, Lastma, etc. The list is endless. A country is as good as it's leaders. Bad citizen, bad country. Good citizens, good country. You guys better wake up and smell the coffee. 1 Like 1 Share |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Kanyekels(m): 2:10pm On May 21, 2016 |
DropShot: Have you blamed Jonathan? People like you will soon start blaming Jonathan because you graduated with a pass degree |
Re: Nigeria’s Economy Shrinks, Recession Imminent by sitibemfen(m): 2:11pm On May 21, 2016 |
Pls are you talking about farming with hoes? |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Bollinger(m): 2:11pm On May 21, 2016 |
Kanyekels: He is also part of a long list of problems Nigeria had, has, is having, and will continue to have. |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Nobody: 2:12pm On May 21, 2016 |
bubu the dullard. 138888599 Likes 384098505 Shares |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Kingspin(m): 2:12pm On May 21, 2016 |
DropShot:Nigeria is not the only country that drink oil. PMB as an ex president should change thing immediately. We did save, is it buhari, APC and PDP that squandered the money. Now, is the time to use good brain to save our economy and stop pushing it too hard on the masses. 1 Like 1 Share |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Nobody: 2:12pm On May 21, 2016 |
Good afternoon Nigeria. So, we have a problem....though we have been saying that for ages. Some of us even saw we had a problem 5 years ago. Our economy IS based on the price of a barrel of oil....not on the works of our hands. That is where the problem is. And to make matters worse....we Nigerians cannot set the price of our oil. Even the OPEC cartel cannot set the price of oil any longer. It has been weakened by the increased oil production in non-OPEC member states. And yes....I would like to blame PDP for spending 16 years in power....and for doing nothing about our oil dependency. GEJ, despite his fans screamings....also did not save oil money (and did not increase refining capacity). And the APC is refusing to be brutally honest with us Nigerians...that we are a poor nation, and we need to cut our coats to size. What we need to do now is simple 1.End all subsides. Increase school fees, hospital fees, etc. Yes...it would be hard on Nigeria....but when you do not have the money for cake...you do not go ahead to eat cake regardless. 2.Spend money urgently on Power (Add 20000MW by 2020, ) , transport, roads, and education. 3.End all useless government welfare programmes like SURE-P, N5000, etc. No more First Lady projects. 4.End all excess spending in the National Assembly and State Assemblies. 5.Continue the War against corruption. Anyone who says PMB should stop fighting corruption is a traitor to the Nigerian nation and his own tribesmen and women. We do not need such evil and deceitful people among us. We have suffered enough from their thievery since 1960. Corruption ends here. The(Nzeogwu's) ten-per-centers are 6.Force all states to work towards earning more money. Give states control over their non-oil resources. 7.Cut the bloat in the Civil Service. We have no need for a big civil service in our nation anymore. 8.Stop wasteful spending. If you cannot buy the imported....buy Nigerian. Our biscuit is just as good as Walker's shortcake. 9.A hard line on religious, tribal and ethnic millitants. All thug herdsmen, all Bokoists, all pipeline vandals, and all religious fanatics....all those who commit violence in the name of tribe or religion are our enemy. They must be stopped. 10.Nigeria must no longer be dependent on oil or any resource again.In ten years time,we must be a manufacturer. No buts, no excuses. Long live the Republic! 3 Likes |
Re: Nigeria’s Economy Shrinks, Recession Imminent by jimmynauty: 2:13pm On May 21, 2016 |
RickyTan: we gree allow us be why una wan deal with us like boko haram... allow us 6months your type go wan naturalise to be NDER |
Re: Nigeria’s Economy Shrinks, Recession Imminent by magicalx(m): 2:16pm On May 21, 2016 |
DropShot: Story Buhari spent his first months in oOffice doing nothing till we don't have a viable economic team, it is squarely his fault |
Re: Nigeria’s Economy Shrinks, Recession Imminent by RickyTan: 2:20pm On May 21, 2016 |
TrueSenator: At least you have displayed a modicum of integrity in admitting GEJ's corruption and lack of saving for the rainy day is the primary reason we are all suffering today. Now solutions like you say - No Easy way out. I think we have to look at other countrys - China hit rock bottom in 1980, India in 1991. What did they do? These are Giant nations with the same complexities and similarities as Nigeria. So they serve as a good template. Chinese allowed foreign investments and deregulation from around 1980. Nigeria cannot attract enough foreign investment bc Investors are worried about the security environment of their investments. BH hurt our reputation. NDA is not helping Nigeria. So in my eyes Nigeria must deal with security- then look to attract FDI. There is no secret formula to growing economy. Reduce corruption. Reduce regulation. Increase security. Increase investments - in agriculture, infrastructure, etc. But with NDA and other groups the Naira will have to flow to the Ministry of Defence as opposed to Ministry of works 1 Like |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Eluwilussit(m): 2:24pm On May 21, 2016 |
DropShot: It is a pity you can call Jonathan an ineffectual buffoon, while describing Buhari as amiable. You called the poster you quoted an illiterate: now go and check the meaning of amiable. Buhari has never been and will never be described as amiable. He can be anything but never amiable. Stop using words you don't know their meanings. |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Nobody: 2:25pm On May 21, 2016 |
InvertedHammer: I am sorry...but you are being too optimistic. Everybody is discovering oil.Fracking is here to stay. I expect oil prices to stay low. |
Re: Nigeria’s Economy Shrinks, Recession Imminent by grandstar(m): 2:25pm On May 21, 2016 |
DropShot: It was Buhari's refusal to devalue that brought this mess and not the fall in oil prices! 2 Likes |
Re: Nigeria’s Economy Shrinks, Recession Imminent by adimsmt: 2:25pm On May 21, 2016 |
DropShot: Really it's high time people like you stop all this excuses for this government Obama inherited worst economy. In six months after taking office he put policies in place that stop the bleeding. This government is now one good year old things are getting worst and you are here preaching What he inherited he is not the first president that inherited worst economic down turn. At least I don't expect magic but at least the bleeding must have stoped by now.. This are not the way to run a falling economy he waited too long injecting fund into the system. |
Re: Nigeria’s Economy Shrinks, Recession Imminent by RickyTan: 2:27pm On May 21, 2016 |
jimmynauty: What is NDER? Lots of tribes Your man govern Nigeria for 6 years and handed over a battered nation. So you ask for 6 months when you had 6 years and all we saw was fantastic corruption |
Re: Nigeria’s Economy Shrinks, Recession Imminent by ochiq(m): 2:27pm On May 21, 2016 |
In Buhari and apc's voice 'Goodluck Jonathan is the cause'. Always finding who to blame for their Crass incompetence, inexperience, lack of vision, direction, goals and failures!!! Buhari the worst president ever in Nigeria sosanova: |
Re: Nigeria’s Economy Shrinks, Recession Imminent by Excellentmind: 2:28pm On May 21, 2016 |
DropShot: It's quite interesting to note that people like you still hold this type of view in the face of the staring really of Nigeria today. Hold on to your views I must tell you, but remember that a butterfly which dances it's way with corpse to the grave will have nobody to blame. |
Re: Nigeria’s Economy Shrinks, Recession Imminent by DropShot: 2:28pm On May 21, 2016 |
adimsmt:Because USA has a lot of working systems in place, what takes it six months to fix will normally take us more than double that time for us to fix. If PMB fails to fix the economy after his four year tenure, we will then blame him. Not now. 1 Like |
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