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Nigeria Slides Into Worst Recession Since 1987 - Politics (8) - Nairaland

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Re: Nigeria Slides Into Worst Recession Since 1987 by Openbusiness: 2:05pm On Nov 21, 2020
Golan007:


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


Mr man I don't need NY times news article to teach me about Buhari regime. I lived under Buhari as a dictator in Nigeria, and I lived under IBB. Buhari is a disaster. The same way he tried to oppress the civilian population back then with his scam KAI campaign to cover up for his economic failure, so people won't protest against him, is the same way he sends the killer Army and enforcement out to suppress the civilian population today from protesting against his economic failure of today. Different era, same tactics.

1 Like

Re: Nigeria Slides Into Worst Recession Since 1987 by XXXXTENTACION: 2:07pm On Nov 21, 2020
blacknp:
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.
then what exactly is your point

what are you trying to insinuate
Re: Nigeria Slides Into Worst Recession Since 1987 by siraj1402(m): 2:08pm On Nov 21, 2020
How can we slides into recession when we have never come out of it before?
Re: Nigeria Slides Into Worst Recession Since 1987 by blacknp(m): 2:10pm On Nov 21, 2020
DedeNkem:
This is what happens when you vote for an incompetent jihadist m*oron for simply being a former short-lived military dictator.
How about the Pdp Governor of your state you voted for, what happened to him?, how has he empowered you? Charity they say begins at home, why cry President Buhari in Abuja, are you an Almijiri from Yobe State?
Re: Nigeria Slides Into Worst Recession Since 1987 by sapientia(m): 2:11pm On Nov 21, 2020
Which one is enter?

Were we ever out of it?
Re: Nigeria Slides Into Worst Recession Since 1987 by Kaymaxine(m): 2:13pm On Nov 21, 2020
Femi adesina, lauretta and lielie mohammed are already drafting their replies
Re: Nigeria Slides Into Worst Recession Since 1987 by blacknp(m): 2:17pm On Nov 21, 2020
XXXXTENTACION:
then what exactly is your point

what are you trying to insinuate
Blame the Useless States that have failed to be productive, & stop behaving like an Ostrich blaming the FG for a system that it is only a part of, I should blame President Buhari for what Okowa did with N214 billion in 2018, & N216 billion in 2019 statutory allocation. Yet the state was only able to generate N74 billion 2018, N77 billion 2019 IGR?

No electricity intervention by the state Government , despite NDDC & DESOPADEC, no schools, no roads, no street lights, no public housing, no agricultural revolution in the state, no enlightenment of the people, yet they claim we are practicing democrazy? I should just sit down and blame President Buhari & The Federal Government? Thank You, I did that when I was in secondary school.
Re: Nigeria Slides Into Worst Recession Since 1987 by Reference(m): 2:17pm On Nov 21, 2020
These are the times where great statesmen emerge. Not when times are good but in tough times. They are VISIBLE, AUDIBLE and show themselves strong in the face of the cries, the fears, the worries of their people.

They move mountains because they love those they lead and where they have exhausted all the resources, all the wisdom, all the might they can muster they INSPIRE and MOTIVATE the people to come along, go above and beyond to survive, to achieve and to thrive.

That is leadership. That is how Adolph Hitler was able to mobilise a Five Million strong army virtually out of the ashes of World War One to overthrow almost all of western Europe in a flash. The people were ready to die for him.

That was how Winston Churchill was able to rescue the armies of 4 nations at Dunkirk from total destruction, motivate the dogged defence of the skies over Britain and return again in 1944 to defeat the Nazis. He believed. He never stopped talking and walked the talk.

Where is that kind of leadership here? Whoever it is should stand to be counted. Nigeria needs him right now.
We don't need stories or excuses about the Barbarians banging at the gates. We know.
Re: Nigeria Slides Into Worst Recession Since 1987 by dominion001(m): 2:21pm On Nov 21, 2020
Anybody that is still defending this government has the normal almajiri brain.
Re: Nigeria Slides Into Worst Recession Since 1987 by blacknp(m): 2:22pm On Nov 21, 2020
dominion001:
Anybody that is still defending this government has the normal almajiri brain.
Almijiri because of the Government in Abuja you are a Failure, How?
Re: Nigeria Slides Into Worst Recession Since 1987 by Sonoyom(m): 2:22pm On Nov 21, 2020
All hail President Bullhari the saviour of the Zombies.
Re: Nigeria Slides Into Worst Recession Since 1987 by grandstar(m): 2:23pm On Nov 21, 2020
Nbotee:
Did we ever get out of the last one??

What the country had was a weak recovery and that's why there wasn't much to cheer about.

Economic growth last year was only 1.8% compared to the 6% annual average of 6% between 1999-2013.

It's Buhari economic policies that are to blame. The archaic forex policies he introduced was the foundation of the mess. APC isn't too blame, it's solely PMB.
Re: Nigeria Slides Into Worst Recession Since 1987 by XXXXTENTACION: 2:24pm On Nov 21, 2020
blacknp:
Blame the Useless States that have failed to be productive, & stop behaving like an Ostrich blaming the FG for a system that it is only a part of, I should blame President Buhari for what Okowa did with N214 billion in 2018, & N216 billion in 2019 statutory allocation. Yet the state was only able to generate N74 billion 2018, N77 billion 2019?

No electricity intervention by the state Government , despite NDDC & DESOPADEC, no schools, no roads, no street lights, no public housing, no agricultural revolution in the state, no enlightenment of the people, I should just sit down and blame President Buhari & The Federal Government? Thank You, I did that when I was in secondary school.
so in simple terms

you are saying that i should not hold the federal government responsible for the failure of the nigerian economy right
Re: Nigeria Slides Into Worst Recession Since 1987 by enemyofprogress: 2:27pm On Nov 21, 2020
Sai babaaaaaaaaaaaaaaaaaaaaaaaa
Re: Nigeria Slides Into Worst Recession Since 1987 by Okuda(m): 2:28pm On Nov 21, 2020
haaryobhami:

amen oh, covid don screw this year sha

people are still travelling. I know someone leaving tomorrow. Dont give up grin

1 Like

Re: Nigeria Slides Into Worst Recession Since 1987 by Jeffyblaq(m): 2:28pm On Nov 21, 2020
Gtoosmooth:
Lord Jesus take me out of this Country..

I make all kinds of cloth for unisex use including jean jacket and suit, any kind of native dress, I also buy btc and all tour gift cards. God bless you.
God bless the work of yuh hand.

1 Like

Re: Nigeria Slides Into Worst Recession Since 1987 by chaloskyx: 2:29pm On Nov 21, 2020
WE HAVE ALWAYS BEEN IN RECESSION OUR POLITICIANS HAVE JUST BEEN HIDING IT BUT COVID ENSURED BUHARI HAD NO ROOM TO HIDE OUR FAKE ECONOMY NOW EVERYBODY KNOWS NIG IS SHIT GIANT OF AFRICA MY FOOT YET OUT OF 13TR BUDGETED FOR IN 2021 3TRN TO SERVICE DEBT 5TRN TO PAY OUR POLITICIANS SALARY WHILE REMAINING 5 TRN IS USED TO RUN THE WHOLE COUNTRY YOU CAN SEE HOW UNFORTUNATE THE COUNTRY IS

1 Like

Re: Nigeria Slides Into Worst Recession Since 1987 by geesilver(m): 2:30pm On Nov 21, 2020
the worst mistake was to allow this vegetable becomes our president
Re: Nigeria Slides Into Worst Recession Since 1987 by Gokoyer0(m): 2:31pm On Nov 21, 2020
AndroBlaze:
[s]When you are all tired of blaming Buhari for your inabilities to impregnate your wives...kindly mention any other major country in the world (besides China) that is not experiencing negative growth thanks to Coronavirus[/s].
Re: Nigeria Slides Into Worst Recession Since 1987 by FanRong: 2:32pm On Nov 21, 2020
Can i say more

Re: Nigeria Slides Into Worst Recession Since 1987 by CSTRR: 2:39pm On Nov 21, 2020
In 2023, if buhari endorses a candidate, vote for him.

Una go learn.
Re: Nigeria Slides Into Worst Recession Since 1987 by Nobody: 2:42pm On Nov 21, 2020
haaryobhami:
in Nigeria history,we have faced recession 4 time now and 3 of d 4 was under buhari administration.
the man is a collosal failure and he is empty upstairs,I believe he is God punishment for d evil that has been happening in Nigeria.
all his tenure is synonymous to failure,tears,sorrow, anguish and suffering.
it shall not be well with the bastards still defending this man and God will make there life like d tenure of buhari.
how can someone be so empty and full of bad luck like buhari?.
His brain is not empty.
He still thinks of how to spend money.
The federal government is also a group of people that actually THINK of making/spending as much as possible for/on themselves so that ordinary people will share peanuts.
They actually utilize opportunities to do politics or exercise whatever influence towards ensuring whatever system of government towards ensuring whatever show of humans/whatever group of living things that compete in significantly different ways despite being of the same species.
Re: Nigeria Slides Into Worst Recession Since 1987 by CSTRR: 2:45pm On Nov 21, 2020
blacknp:
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.
You are very lucky you are not saying this on Twitter.

Is it the state that determines macroeconomics?

Was it the states that created policies like CAMA, border policies, import duties, taxation policies?
Does the states run the CBN?

If investors want to invest in Nigeria, is it state or federal politics that will make or mar them?
Are the states even independent?

If I tear you slap, dem go hear am for your village.

2 Likes

Re: Nigeria Slides Into Worst Recession Since 1987 by Bennycollins: 2:47pm On Nov 21, 2020
Silly comment from you. Obviously you lack knowledge. Oil price fall present an ample opportunity for aNY oil producing nation with 4 refineries. WWE export a barrel at about 40 $, when a barrel can yield up to $100 in refined products. I can educate you further on this. But these clueless old men in government keep borrowing to finance railway that contribute little or nothing to GDP. We Xport crude and import refined products even from Niger republic now. Where do Niger get the crude from? I hope I am giving you small sense? Some of those refineries are owned by Nigerian leaders, the very people you are blindly supporting here. The worst-hit nations by Covid-19 have not slided in to any recession not to talk of their biggest since 1987. So who is being illiterate here?
tartar9:

The reason for both recessions is well known from the oil price to covid-19.
I'm not a Buhari's fan,but you guys should stop reasoning like illiterates.
Re: Nigeria Slides Into Worst Recession Since 1987 by Nobody: 2:54pm On Nov 21, 2020
Philipxxxx0:
The last time Nigeria recorded such cumulative GDP was in 1987, when GDP declined by 10.8 percent. Someone should help me check who is the president in 1987 , asking for a friend.

It was none other than Ibrahim Badamasi Babangida....aka Mardona, aka evil genius.

Bubu was out of office, and had been out of office since 1985.
Re: Nigeria Slides Into Worst Recession Since 1987 by Nobody: 2:56pm On Nov 21, 2020
Golan007:
The whole world is in a recession.

Yes, but if Buhari had done things like deregulation of the power and electricity sector from day one, as well as actually fighting corruption, and also fixing up SARS...we would have been in a better position to ride out this storm

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