mtisTheQubit:

Your country is endowed but must add that you got sophisticated marketing an that why you attract more visitors than kenya or tanzania not coz ya got nice stuff..Folks even visit S.A to see cape town...its like dudes who visit New york to see lady of liberty..also presence of higher white population contributes also to high tourist numbers...just saying..everyone is more comfortable with their own...anyway your photos are beautiful but Tz wins on ths photo thingy

Problemkid1:
Stop crying you guys have taken the title already

mtisTheQubit:

so you love the British so much you even drown to meet them...why cant you just invite them back to your country..

obaaderemi:
Oga,face me and stop gallivanting with that illiterate out of desperation. He's low even by your low levels. You shouldn't be seen with such people even if you desperately need support.

Now, this is a picture that disturbed the conscience of the whole human race. Where else can it come from but Kenya, Shame of Africa. You should not talk about poverty, You stupid little Indiian monkey!

mtisTheQubit:

Your country is endowed but must add that you got sophisticated marketing an that why you attract more visitors than kenya or tanzania not coz ya got nice stuff..Folks even visit S.A to see cape town...its like dudes who visit New york to see lady of liberty..also presence of higher white population contributes also to high tourist numbers...just saying..everyone is more comfortable with their own...anyway your photos are beautiful but Tz wins on ths photo thingy

obaaderemi:
He is shameless.

mtisTheQubit:

Your country is endowed but must add that you got sophisticated marketing an that why you attract more visitors than kenya or tanzania not coz ya got nice stuff..Folks even visit S.A to see cape town...its like dudes who visit New york to see lady of liberty..also presence of higher white population contributes also to high tourist numbers...just saying..everyone is more comfortable with their own...anyway your photos are beautiful but Tz wins on ths photo thingy

obaaderemi:
Just look @ your pathetic life. @ bolded. What have you achieved with the high number of Indians in your useless 'wrestler's armpit' of a country.

mtisTheQubit:

Oga, what does this picture say about your country...just look at it man

jln115:
cool story bro if that's what helps you sleep at night

Let's just ignore the facts like infrastructure and the fact that there is much more to see and do in SA.

Austine1213:


That was a bit harsh hey

Africans should stop attaching their lack of achievement to white people though.

obaaderemi:
Oga,face me and stop gallivanting with that illiterate out of desperation. He's low even by your low levels. You shouldn't be seen with such people even if you desperately need support.

Now, this is a picture that disturbed the conscience of the whole human race. Where else can it come from but Kenya, Shame of Africa. You should not talk about poverty, You stupid little Indiian monkey!

Austine1213:


For a country to attract tourism it needs more than nature, it needs development, Tanzania lags behind in terms of tourism ficilities,.. Hotels, payments facilities, good network, roads, etc

The photos thingie? The SA guy posted handful of pics would the other posted dozens

Problemkid1:
Maybe the British castrated the idiot too

obaaderemi:
Keep scouring the net in desperation.
If you look at the attached screenshot, you will see the date. Kenyans are destined to starve forever, not just a generation.

I wonder the kind of dancestep you'll dance to this kind of beat, little Indiian.

ECA: Nigerian economy vulnerable to shocks, says World Bank

Ihuoma Chiedozie

The Nigerian economy has become more vulnerable to shocks as a result of the depletion of the Excess Crude Account, according to the World Bank.

The ECA was established in 2004 to save revenues in excess of the budgetary benchmark price generated from the sale of oil, with the aim of protecting the country’s budgets against shortfalls caused by the volatility of crude oil prices.

The account was expected to insulate the Nigerian economy from external economic shocks.

The ECA rose from $5.1bn in 2005 to more than $20bn in November 2008, but during the last meeting of the National Economic Council in December 2019, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, reportedly disclosed that the balance as of November 19, 2019 was $324.98m.

In its latest Nigeria Economic Update, the World Bank warned that a ‘moderate’ decline in oil price could trigger another recession, noting that the exhaustion of the ECA had made the country more vulnerable.

“Fiscal buffers in the Excess Crude Account have been exhausted, rendering Nigeria more vulnerable to shocks,” the bank said.

Noting that the account was mismanaged, the report added, “The ECA has rarely operated as envisaged. When it was established in 2004, it was to be drawn on only when the actual crude oil price falls below the budget benchmark price for three consecutive months.

“However, state governments contended that the federal Fiscal Responsibility Act of 2007 creating the ECA was not binding on state and local governments.”

The World Bank observed that the Sovereign Wealth Fund was established in 2011 by the three tiers of government to serve as the oil savings fund for the country.

The SWF has three components – future generations, infrastructure and stabilisation funds.

The stabilisation fund, like the ECA, was to support federation revenue in times of economic stress.

“It was envisaged that the balance in the ECA in 2011 would be transferred to the SWF.

The World Bank said, “Instead, in 2012 seed capital of only $1.5bn was transferred, plus another $0.5bn in 2017.”

The balance of the Stabilisation Account, reportedly as of December 17, 2019, was N30.5bn, while the Natural Resource Fund held N88.3 at the same date.

The World Bank further observed that Nigeria’s consolidated government revenue was very low by the standards of comparable countries.

“During the commodity boom Nigeria’s consolidated government revenue reached 12 per cent of GDP, among the lowest ratios for structural, aspirational and regional peers.

It said, “After oil price and production shocks and Nigeria’s first recession in over two decades, in 2016 general government revenue plunged to six per cent of GDP – second lowest of 115 countries for which data are available.

“Recovering to eight per cent of GDP in 2018, government revenues are projected to plateau there unless there are significant tax policy and administration reforms.”

The bank warned that the prevailing situation will continue to constrain the budget envelope and limit fiscal space for investing in physical and human capital.

In the absence of fiscal buffers such as the one that was supposed to be provided by the now exhausted ECA, Nigeria risks another recession, due to the country’s dependence on oil, the bank said.

It added, “A moderate decline in oil prices could lead to a recession in Nigeria due to its dependence on oil; the Nigerian economy is highly vulnerable to a drop in oil prices.

“The oil sector remains the dominant source of risk for growth of Nigeria’s economy, with sustained suboptimal policy decisions aggravating the size of the potential impact on the economy.

“For example, a sudden decline in oil prices to 2016 levels, sustained for a year, would undermine growth and fiscal balances and the lack of monetary and fiscal buffers would magnify the impact of any shock to the economy.

“If oil prices dropped again by about 25 per cent, the country could swing into a recession, with a more difficult recovery path.”

Evaluating the possible impact of a temporary decline in oil price, the bank noted that the development could subtract up to 0.5 percentage points from growth.

The report projected, “Yet, the indirect (spillover) effects on external and fiscal balances and the financial sector would be significant, similar to, if not worse, than what happened during the 2016 recession.

“Since the Federal Government’s deficit is already twice the size of Nigeria’s revenues, the fall in fiscal revenues proportionate to the 25 per cent fall in oil prices would virtually eliminate space for infrastructure spending, with obvious long-term repercussions for growth.

“With no fiscal buffers available –the Excess Crude Account balance is less than $0.5bn – and no likelihood of external borrowing as investor confidence drops because of uncertainty over Nigeria’s policy response, deficits would have to be financed domestically, sending the cost of borrowing soaring.

“Because there are no buffers, the nonoil economy could contract by more than in 2016, with the economy as a whole shrinking by more than two per cent.

“Recovery would be slow in the absence of structural reforms, even if the oil price rebounded by about 15 per cent as the global economy recovers.”

However, world oil prices jumped nearly $3 on Friday after the United States killed an Iranian military chief, Qassem Soleimani, a development which fanned fresh fears of conflict in the crude oil-rich Middle East.

The international oil benchmark, Brent crude, hit $69.16 per barrel, its highest since September 17, 2019, before easing to $68.81 per barrel, while the US West Texas Intermediate surged by $2.03 to $63.21 per barrel, having earlier spiked to $63.84 a barrel, its highest since May 1, 2019

mtisTheQubit:

totally in agreement...Tanzania lack stuff but you cant deny its naturally endowed...thats what i was trying to say...

mtisTheQubit:

Oga, what does this picture say about your country...just look at it man

obaaderemi:
Don' t mind him.He was attaching South Africa's tourism success to whites. The idiot. Read his post to jln15 again.

SUFFERInSMILIIN:
Nigeria in economical trouble. A second recession might be coming for Nigeria

mtisTheQubit:

ok man ths is naija way of doing things..keep repeating same stuff like ya doing...Ok am in

mtisTheQubit:

typical Nigeria reasoning...All south Africans contribute to success of their country..dont bring gossip on ths please...aint interested...lets concentrate on the poverty thingy please[/s]

mtisTheQubit:

ok man ths is naija way of doing things..keep repeating same stuff like ya doing...Ok am in

Problemkid1:
Look son, read carefully I guess you have already rent out your wife because you have no dick

mtisTheQubit:

first stuff doesn't help me sleep at night at all

second i think what i posted is factual
Third ,you think folks from Europe or America come to south africa to watch the lions coz he cute than our own Simba the lion..no man..there are many factors tourist consider...an one undeniable factor is that S.A got a lot of connection..am not being jealous

Problemkid1:
Look son, read carefully I guess you have already rent out your wife because you have no dick

SUFFERInSMILIIN:


If the water is heavily based in sodium and ammonia it is possible to generate electricity directly from the lake. Both sodium and ammonium are acidic. You an use the link as one big battery a very huge battery to generate electricity.

Austine1213:


For a country to attract tourism it needs more than nature, it needs development, Tanzania lags behind in terms of tourism ficilities,.. Hotels, payments facilities, good network, roads, etc

The photos thingie? The SA guy posted handful of pics would the other posted dozens

obaaderemi:
[s]Shut up, you monkey. We all saw you praise white presence for South Africa's success.

Why not get your Indian overlords to help these people?

mtisTheQubit:

believe what you wanna belive but ths factual..you are the poverty capital the world...