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Nairaland Forum / Nairaland / General / Politics / Nigeria Slides Into Worst Recession Since 1987 (40300 Views)
Young Orji Kalu Complained About His Delayed Recognition In 1987 (Throwback Pix) / Nigeria Faces Worst Recession In 40 Years – World Bank / Nigeria Heading Into Worst Recession In 30 Years –IMF (2) (3) (4)
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Re: Nigeria Slides Into Worst Recession Since 1987 by Nobody: 1:40pm On Nov 21, 2020 |
Buhari 2023 continuation we trust. Sai Baba |
Re: Nigeria Slides Into Worst Recession Since 1987 by Agbegbaorogboye: 1:40pm On Nov 21, 2020 |
Now, who will Baba risesan blame for this latest round of recession he has achieved A. Covid B. Endsars C. PDP D. GEJ E. The moon and the stars F. All of the above |
Re: Nigeria Slides Into Worst Recession Since 1987 by toye440: 1:43pm On Nov 21, 2020 |
I Wish I can meet that lady who said she loves the way Buhari is ruling Nigeria Islamically, i need to ask her if she's still in love with the islamic system of governance or we need to separate religion from politics. 1 Like |
Re: Nigeria Slides Into Worst Recession Since 1987 by Reference(m): 1:43pm On Nov 21, 2020 |
Golan007: Oga. Governments are not elected just to exist. They are not elected like most of you think to demonstrate some tribal, sectional or religious satisfaction. Governments are elected to secure and prosper the people who place them there. There is no excuse for failure. If people are worse off in anyway the government has failed. Trump has gone because of the way he handled the virus pandemic, race relations and many, many other things HE DID NOIT CAUSE. So to lay up negative events as a shield for poor response, poor handling and eventually poor outcome is a subscription to future failure. Every government elected subsequently will then have an excuse to fail and democracy becomes meaningless because there will always be challenges. That is life. As a matter of fact it is great difficulties that make for great leadership. Winston Churchill, Nelson Mandela, Abraham Lincoln, JFK, Mahatma Ghandi will never be forgotten, not for the good times but for how they handled the worst times in the history of those nations they served. Today we and our kids love our Superman, Batman, Spiderman, James Bond, Ethan Hunt's because the human spirit appreciates those who rise to daring challenges and overcome great adversity. Look young man. This present set of leaders have the greatest post independence opportunity to write their names for all eternity in the annals of true Nigerian heroes because of the adversity they face. DONOT GIVE THEM THE REASON TO SQUANDER IT by cultivating excuses or only infamy will be left. That is a sure word of legacy. 4 Likes |
Re: Nigeria Slides Into Worst Recession Since 1987 by DarkJeddi(m): 1:44pm On Nov 21, 2020 |
JAMO84:Stop trying to dance around the issue,was Nigeria not in recession in 1985? Yes or No? ![]() |
Re: Nigeria Slides Into Worst Recession Since 1987 by Golan007: 1:46pm On Nov 21, 2020 |
Reference: All world leaders should resign.
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Re: Nigeria Slides Into Worst Recession Since 1987 by Nobody: 1:47pm On Nov 21, 2020 |
haaryobhami: |
Re: Nigeria Slides Into Worst Recession Since 1987 by DarkJeddi(m): 1:47pm On Nov 21, 2020 |
DamZik:Buhari wasn't the Head of State in 1987.. ![]() 2 Likes 1 Share |
Re: Nigeria Slides Into Worst Recession Since 1987 by XXXXTENTACION: 1:47pm On Nov 21, 2020 |
Golan007:Accepting responbility is something that people like you find hard to do. ![]() Nigeria is in this current situation (reccession) due to the kind of economic policies that we have put in place(too much dependence on oil). Buhari had six years yet he could not diversify the economy to depend on other things than oil. It only takes a responsible person to accept his own faults and mistakes and try to correct them. Even a deaf and dumb person knows that Buhari's economic policies are part of the reasons why our economy is in shambles today ![]() 1 Like |
Re: Nigeria Slides Into Worst Recession Since 1987 by Golan007: 1:48pm On Nov 21, 2020 |
DamZik: Babangida was president in 1987. 1 Like |
Re: Nigeria Slides Into Worst Recession Since 1987 by Openbusiness: 1:48pm On Nov 21, 2020 |
Very useless blockhead empty brain. He just came in and destroyed the economy totally. He doesn't no jack about building an economy. That was exactly the same way he almost ran Nigeria economy to the ground in 1983/84 after he took over power by coup. The same God that sent General IBB to deliver Nigeria from the dullard dictator Buhari in1985, that same God will deliver Nigeria from Buhari regime again. God no go shame us. That's why regardless of the wickedness of June 12 annulment, IBB still remains a national hero in my view. Because the good he did to save Nigeria from Buhari outweighs the evil he did to deny MKO of Presidency. Buhari was a disaster then, and he is a bigger disaster now. Everything he touches must fail. He touched fuel at N97, today it is N170. He touched dollar at N220, today it is N480 per $1. Look at insecurity in Nigeria. It is worst than how Buhari met it. Buhari has made Nigeria worst than he met it. Human rights have been thrown out the window, there's no longer freedom of the press, media houses are been persecuted if they dare broadcast anything that doesn't promote the lies of this evil regime. What about govt oppression against citizens? It has gone astronomically high, never before in the history of Nigeria. Democracy. Igbos massacred, Shiites massacred, Peaceful protesters massacred, anybody that doesn't agree with them is an enemy that must be destroyed. If I'm lying or incorrect or ignorant, please somebody should educate me about 1 aspect Buhari has improved since he came in. Please don't mention infrastructure because all those projects are being used to run scam and steal billions unnoticed. He has plunged Nigeria into critical foreign debt because of those white elephant projects. So it has not given Nigeria an advantage and therefore excluded. 1 Like 1 Share |
Re: Nigeria Slides Into Worst Recession Since 1987 by Golan007: 1:48pm On Nov 21, 2020 |
XXXXTENTACION:Ok
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Re: Nigeria Slides Into Worst Recession Since 1987 by tope777(m): 1:49pm On Nov 21, 2020 |
Push and start Government.. |
Re: Nigeria Slides Into Worst Recession Since 1987 by blacknp(m): 1:49pm On Nov 21, 2020 |
Macphenson:If your father was qualified to be a Local Government Chairman, you wouldn’t have been on Nairaland wailing, nothing in life is given, you work for everything, nobody promised President Buhari anything, nothing in life is guaranteed, he worked to get there, go and work intelligently, so you can prosper your personal life, South East Almijiri Failure. 1 Like 1 Share |
Re: Nigeria Slides Into Worst Recession Since 1987 by haaryobhami: 1:49pm On Nov 21, 2020 |
[quote author=DamZik post=96283855][/quote] why u tag those irredeemable clowns for my post,if buhari wipe out a whole state,those guys would still defend him. I rate them as sub-human or half human/half animal so I try to avoid them 1 Like |
Re: Nigeria Slides Into Worst Recession Since 1987 by AMvanquish: 1:51pm On Nov 21, 2020 |
defcon4: Bros. Na so we see am O |
Re: Nigeria Slides Into Worst Recession Since 1987 by Openbusiness: 1:53pm On Nov 21, 2020 |
The only thing I hate more than PDP is Bokóhari regime... Tuehhhh! |
Re: Nigeria Slides Into Worst Recession Since 1987 by blacknp(m): 1:54pm On Nov 21, 2020 |
XXXXTENTACION:Aimijiri it is because of Federal Government policies on the exclusive legislative list like banking, shipping, import & export that you failed woefully in life? What of your State Government policies on the concurrent list, like agriculture, job creation, human capital application, how did that improve your life? |
Re: Nigeria Slides Into Worst Recession Since 1987 by XXXXTENTACION: 1:54pm On Nov 21, 2020 |
Golan007:Bomboclaat ![]() |
Re: Nigeria Slides Into Worst Recession Since 1987 by Golan007: 1:55pm On Nov 21, 2020 |
XXXXTENTACION: Indeed . |
Re: Nigeria Slides Into Worst Recession Since 1987 by XXXXTENTACION: 1:56pm On Nov 21, 2020 |
blacknp:we are talking about the economy of Nigeria and you are saying something else. i hope your mental facaulty is intact ![]() |
Re: Nigeria Slides Into Worst Recession Since 1987 by Nobody: 1:58pm On Nov 21, 2020 |
DarkJeddi:He newly took over from Buhari. Statistically, it takes months to realize recession. So Buhari caused the recession then by using military to determine the market price of commodity then instead of forces of demand and supply. The only head of state to ever do so in the whole world. Buhari is a great dullard. |
Re: Nigeria Slides Into Worst Recession Since 1987 by Okuda(m): 1:59pm On Nov 21, 2020 |
Re: Nigeria Slides Into Worst Recession Since 1987 by delawal: 1:59pm On Nov 21, 2020 |
obasanjo warned us not to reinforce a failure |
Re: Nigeria Slides Into Worst Recession Since 1987 by XXXXTENTACION: 1:59pm On Nov 21, 2020 |
Golan007:we are talking of Nigeria's economy and you are talking of world leaders. what has the Nigerian economy got to do with world leaders ![]() |
Re: Nigeria Slides Into Worst Recession Since 1987 by Golan007: 2:00pm On Nov 21, 2020 |
Openbusiness: Know your history, even the basic ones. Buhari got into power on December 31, 1983. A New York Times report from earlier in the year stated: Just how deeply into debt Nigeria has fallen remains a matter of some debate. The Nigerian central bank admits to $3.3 billion in overdue short-term payments. Western bankers estimate Nigeria's short-term debt at twice that figure. Uncertainty over this question is drying up Nigeria's trade credit. And a lack of reliable information on the current level of Nigerian imports has added to the confusion. The most recent figures for Nigeria's cash reserves, for January of this year, were $1.3 billion - enough to finance only about a month of imports - and some analysts believe that reserves have dwindled to virtually nothing in the few months since then. https://www.nytimes.com/1983/05/02/business/nigeria-faces-debt-problems.html 1 Like |
Re: Nigeria Slides Into Worst Recession Since 1987 by haaryobhami: 2:01pm On Nov 21, 2020 |
Okuda:amen oh, covid don screw this year sha |
Re: Nigeria Slides Into Worst Recession Since 1987 by pacespot(m): 2:03pm On Nov 21, 2020 |
Serious. I think this is an inflation induced recession, inflation has been known to induce growth but reverse is the case in Nigeria, due to lack of investments both foreign and domestic |
Re: Nigeria Slides Into Worst Recession Since 1987 by obailala(m): 2:03pm On Nov 21, 2020 |
Angelfrost:Any time one opens and breezes through threads like this, the level of misinformation which people revel in just chases one away. Between 2015 and 2019, the recession was caused by the sudden drop in oil prices and oil revenue; over 90% of Nigeria's revenue comes from oil. To correct that misinformation you've been fed with, Nigeria's economy was not upward by the time Goodluck left; the drop in oil prices started from late 2014, as at May 2015 when GEJ left, despite the fact that oil was even still at $65, Nigeria's upward economy as you put it had nosedived; the GDP growth rate which was sailing between 6-7% (which placed Nigeria in the league of fastest growing economies) had crashed to 2.3% by the time GEJ handed over. Despite the fact that over $10bn in the foreign reserves was drawn to defend the Naira at the time, the Naira dropped in value from N160 to N230 by the time GEJ left. Of course with nothing left in reserves to defend the Naira with, and with the oil price drop worsening to $28 in the coming months, only economic ignoramuses or just political analysts believe Nigeria went into recession in 2016 exclusively because of a change of president. Similarly in 2020, with the pandemic and with almost all economies of the world dropping into recession and with the demand for oil dropping proportionately, only ignoramuses again believe the recession of 2020 in Nigeria should have only a political explanation. Has the leadership of the country handled anything well since 2015? the answer is obviously NO, but it would be useful if Nigerians stopped ignorantly ascribing everything to politics. 3 Likes 1 Share |
Re: Nigeria Slides Into Worst Recession Since 1987 by blacknp(m): 2:04pm On Nov 21, 2020 |
XXXXTENTACION:Mumurism is state of mind, I don’t blame you?, Nigeria is a country of States, without the States, there is no Nigeria, Nigeria’s Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders (Federal, States, & Local Governments) in a specific time. I hope you dull skull can comprehend that Nigeria is not a vacuum like your cerebellum, it is the States that make up The Federal Republic of Nigeria. Lazy people like you are alright with the cliche that it is President Buhari’s fault, Useless leeches what value did your peasant state add to the GDP of Nigeria, other people should go & work so you can be enjoying? Be waiting Lazy Oaf. |
Re: Nigeria Slides Into Worst Recession Since 1987 by DedeNkem: 2:04pm On Nov 21, 2020 |
This is what happens when you vote for an incompetent jihadist m*oron for simply being a former short-lived military dictator. |
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