A growth concentrated particularly on trade and agriculture would suggest substantial welfare benefits for many but the opposite is the case in Nigeria because the social welfare indicators have been slower than would be expected in the context of this growth. What was the impact of this growth on the citizenry within the period? Even if our growth is in double-digits, as long as the growth is unable to result to more job creation and poverty reduction, is anything but cheering!

I dont understand all these abracadabra economics o

Wat baffled me most is d comment of some people on dis forum, I think d message was clear enough for a learner to understand, let bury our sentiment and face the reality, and note that it is not all issue u must contribute to most especially what no little about or what u did not no. God bless u.

KIRIJI: I dont understand all these abracadabra economics o

. Try to see economist they will explain better to u in a language u will understand, don't be over shadow with sentiment and ready to learn. Thanks

Wow! What a ridiculous foolishness!!! I wonder why someone will say Nigerian economy is doing well while the country is nosediving into the abyss of poverty. Or is there no relationship at all between poverty and strong economy. I heard that when the economy is doing well, poverty will go down, but, in Nigeria/IMF case, the poverty is going higher at the same time when the economy is doing good.

take dat: A growth concentrated particularly on trade and agriculture would suggest substantial welfare benefits for many but the opposite is the case in Nigeria because the social welfare indicators have been slower than would be expected in the context of this growth. What was the impact of this growth on the citizenry within the period? Even if our growth is in double-digits, as long as the growth is unable to result to more job creation and poverty reduction, is anything but cheering!

I hope you do not mean simply giving out money to people for doing nothing as "social welfare benefits"

How have the states and LGAs fared in carrying out their constitutionally assigned duties that entails recruitment of promptly & well paid civil servants and teachers to carry out monitoring, assessment of private enterprises and provide education to ALL children in their states among others

9jii.:
For being puppets as always.

My Thought.

phemy36: Wat baffled me most is d comment of some people on dis forum, I think d message was clear enough for a learner to understand, let bury our sentiment and face the reality, and note that it is not all issue u must contribute to most especially what no little about or what u did not no. God bless u.

What are you saying that people doesn't know? The state of Nigerian economy? Stop being ridiculous. We are Nigerians, we live here and we know how worse is our economy. May be you should go and find out how IMF loans destroys third world countries' economy, and how Iweala assisted government in crippling Nigeria's economy.

kmariko: IMF lauds Sanusi, Okonjo-Iweala for strength of Nigeria’s economy in 2013
Posted by: The Citizen in Business, Headline 2 days ago December 6, 2013

The International Monetary Fund (IMF) has declared that Nigeria’s economy performed well during 2013.
The IMF Mission Chief and Senior Resident Representative in Nigeria, Gene Leon, stated this during a visit to Nigeria between November 13 and 26 to conduct discussions for the 2013 Article IV consultation.
The mission met with the Minister of Finance and Coordinating Minister of the Economy, Ngozi Okonjo-Iweala; the Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi; senior government officials; members of the legislature; and representatives of the private sector with a verdict that Nigeria’s economy did very well during the year.

The Fund’s mission issued a statement at the conclusion of the visit, which reads in part: “Nigeria’s economy has continued to perform strongly in 2013. Real GDP grew by 6.8 percent in the third quarter of 2013 (compared to third quarter 2012), supported by robust performances in agriculture, services, and trade. Oil theft/production losses have adversely impacted export receipts and government revenues, leading to a significant drawdown from the Excess Crude Account. Inflation declined to 7.8 percent (end-September 2013) from 12 percent at end 2012, in part owing to lower food prices and monetary policy implemented by the Central Bank of Nigeria (CBN). The exchange rate has been stable, and the banking sector is well capitalized with low levels of non-performing loans.
“Although the outlook is positive, risks need to be managed. Growth is projected to increase to about 7 percent in 2014, while inflation should remain subdued in the single digits. Nigeria could be affected, however, by a decline in oil prices, the pace of recovery in global economic and financial conditions, capital outflows, continued losses in oil production, or increased security concerns. At the same time, the economy can manage such shocks given a relatively flexible exchange rate regime, improved financial crisis management capacity, and a stable banking system. But fiscal buffers are low and a sustained high rate of growth is needed to reduce unemployment, and poverty.
“Fiscal consolidation is progressing well, and the momentum needs to be preserved through the ongoing election cycle. Key public financial management reforms are underway, including the implementation of a Treasury Single Account (TSA) and integrated information management systems, but lower-than-budgeted oil revenues are impacting budgetary plans at Federal, State, and Local levels and highlighting the need for rebuilding fiscal buffers to manage oil revenue volatility. Moving toward a sustainable non-oil primary deficit path will require resolve in continuing fiscal consolidation, including through resisting procyclical election spending, mobilizing non-oil revenue, improving efficiency in the public sector, and strengthening transparency in oil sector governance.

“The current monetary stance is appropriate and should remain geared towards sustaining low inflation and a stable financial system. Managing liquidity in the banking system remains a priority, and will be aided by the implementation of the TSA and prudent fiscal management. Likewise, the CBN has maintained stability of the naira, containing inflation and facilitating business confidence. However, the continued importance of oil receipts and the magnitude of portfolio follows present potential vulnerabilities, and exchange rate flexibility may be a useful tool in the event of persistent pressures. Ongoing initiatives to strengthen the supervisory framework, including supervision of banking groups, should continue, and Asset Management Corporation of Nigeria’s activities phased out gradually.
“To promote inclusive growth and mitigate the impact of vulnerabilities, ongoing structural and institutional reforms should be pursued resolutely. The 20/20 Vision and the Transformation Agenda provide a framework for ongoing reforms, including the privatization of the generation and distribution of energy, initiatives to increase food security and viability of agriculture, and programs funded through the Universal Basic Education Commission to improve human capital development.

In addition, access to financial services for small-and medium-size enterprises, which have been key in many countries to enabling all to benefit from growth, could be improved. Other initiatives to improve the business environment and investment promotion could support diversification across sectors, but should be underpinned mainly by improvements in productivity and competitiveness. Growth in the next decade will need to rely on the continued implementation of reforms to strengthen institutions, improve efficiency, and prioritize quality infrastructure investments.
“The mission would like to thank the authorities and technical staff for their excellent cooperation”, the statement added.

Egbami How is that? When dollars keeps rising high and food no plenty still for market ...pls what is the yardstick they used to measure it o

/
One thing I realized is that no one understands economy.

Every expert claims to understand it when the sail is smooth.

But in times of storm all you will hear are excuses, explanations, theories, innuendos.

So otokx, theoctopus, taharqa..just assume that none of you have any idea of what you are talking about.

Textbook materials and reality sometimes are disjointed.

//

anonimi:

I hope you do not mean simply giving out money to people for doing nothing as "social welfare benefits"

How have the states and LGAs fared in carrying out their constitutionally assigned duties that entails recruitment of promptly & well paid civil servants and teachers to carry out monitoring, assessment of private enterprises and provide education to ALL children in their states among others

So you believe welfare benefits simply means giving handouts to people?

How have the FG fared in carrying out its constitutionally assigned duties? The three tiers of Government all share in the blame!

<<< ATTENTION PLEASE >>>
BIAFRA LIBERATION COUNCIL
OPERATION EXODUS
WE THE BIAFRAN LIBERATION COUNCIL HAVE EXPRESS OUR SADNESS OVER THE CURRENT KILLING OF EASTERNERS IN THE NORTHERN PART OF NIGERIA BY THE MUSLIM FUNDAMENTALIST DESPITE THE ASSURANCE BY THE FEDERAL GOVERNMENT TO PROTECT THE NON MUSLIMS AND THE EASTERNERS IN THE NORTHERN REGION, FOLLOWING THE RECENT INVASION OF THE NIGERIAN AIR FORCE BASE AND CARTING AWAY WITH SOME HEAVY MILITARY EQUIPMENT BY THESE NORTHERN GROOMED ISLAMIST FUNDAMENTALIST,IT IS NO LONGER A SECRETE THAT NIGERIA HAS FAILED AND IS NO LONGER CAPABLE OF PROTECTING ITS CITIZENS NOT TO TALK OF FOREIGNERS WITHIN THE GEOGRAPHIC EXPRESSION/ENTITY KNOWN AS NIGERIA, AND SEQUEL TO THIS, THE BIAFRA LIBERATION COUNCIL HAVE DECLARED THE OPERATION EXODUS
1. WE HERE BY CALL ON ALL EASTERNERS/BIAFRANS IN THE NORTH AND INDEED IN OTHER PARTS OF NIGERIA TO SEND THEIR WIVES AND CHILDREN HOME IMMEDIATELY BEFORE 30TH OF JANUARY 2014 OR BE HELD RESPONSIBLE FOR ANY CALAMITY THAT BEFALL THEM AFTER THE GIVEN DATE,
2. WE ALSO URGE ALL EASTERNERS/BIAFRAN TO BE READY/PREPARED TO DEFEND THEMSELVES WHERE EVER THEY ARE IN CASE OF ANY FORM OF ATTACK ON THEM BY ANY SECT OR GROUP BE IT RELIGIOUS,TRIBAL OR POLITICAL SINCE NIGERIA HAS FAILED IN THEIR DUTY TO PROTECT THEM BUT RATHER CHOSE TO HAVE A CLEAN DAY ROMANCE WITH THE BOKOHARAM SECT HENCE PLAYING GAMES WITH THE LIVES AND PROPERTIES OF INNOCENT EASTERNERS/BIAFRIANS
WE CANNOT FOLD OUR ARMS ANY MORE AND WATCH THIS HORROR GROW DAY BY DAY, WE CANNOT FOLD OUR ARMS AND WATCH INNOCENT BIAFRANS MASSACRED MERCILESSLY IN THE HANDS OF THESE NORTHERN GROOMED BLOOD SUCKING DEMONS CALLED BOKOHARAM,
ENOUGH IS ENOUGH, TO BE FORE WARNED IS TO BE FORE ARMED.
UDO NU.
from Biafra Ogbajirigwe

some tom, dick and harry will just jump out and start doing as if they know everything wen truly they know nothing. is it not their counterparts some months ago that said almost 100million Nigerians live in penury
dailypost.com.ng/2013/11/13/100-million-nigerians-live-in-abject-poverty-world-bank/
now one IMF lauds sanusi and ngozi for economy boom, which economy is booming?
let us stop believing all dis crap.. ma fellow Nigerians dat actually stays and live in Nigeria sincerely evaluate the state of d economy yourselves. Nigerians is your economy booming? sincere Nigerians reply abeg

well, I don't know much about economics but I believe there has been a marginal improvement in the economy of the country.. because there are new firms springing up here and there.. agricultural sector is doing very well.. these must count for something right? 6% growth is marginal.. you wouldn't expect the economy to go from very bad to Great because of 6% growth.

And otox, I made a purchase on aliexpress on Friday and the exchange was 160.1 Naira for a dollar..

FOOL FINDER: Joke of the century,and yet the naira keeps falling behind the dollar.

The Japanese Yen's quite similar to the Naira when compared against the dollar. The same goes for the Chinese currency thats intentionally kept lower than the dollar. Maybe these two economic powerhouses know something YOU dont know before you spewed that garbage of yours called a post.

taharqa: What NONSENSE are you trying to spur with this comment? What's yr point?... You some times leave no doubt about how pea-sized yr brain really is, @otokx

And where is this clueless deluded discombobulated chronic goose ranting from, since you have paw-paw size brain why not explain to us how IMF arrived at their conclusion because all I see is a rumbling economy and not a stromg growing one as those pathetic birdbrain claimed.

Emytex boy: <<< ATTENTION PLEASE >>>
BIAFRA LIBERATION COUNCIL
OPERATION EXODUS
WE THE BIAFRAN LIBERATION COUNCIL HAVE EXPRESS OUR SADNESS OVER THE CURRENT KILLING OF EASTERNERS IN THE NORTHERN PART OF NIGERIA BY THE MUSLIM FUNDAMENTALIST DESPITE THE ASSURANCE BY THE FEDERAL GOVERNMENT TO PROTECT THE NON MUSLIMS AND THE EASTERNERS IN THE NORTHERN REGION, FOLLOWING THE RECENT INVASION OF THE NIGERIAN AIR FORCE BASE AND CARTING AWAY WITH SOME HEAVY MILITARY EQUIPMENT BY THESE NORTHERN GROOMED ISLAMIST FUNDAMENTALIST,IT IS NO LONGER A SECRETE THAT NIGERIA HAS FAILED AND IS NO LONGER CAPABLE OF PROTECTING ITS CITIZENS NOT TO TALK OF FOREIGNERS WITHIN THE GEOGRAPHIC EXPRESSION/ENTITY KNOWN AS NIGERIA, AND SEQUEL TO THIS, THE BIAFRA LIBERATION COUNCIL HAVE DECLARED THE OPERATION EXODUS
1. WE HERE BY CALL ON ALL EASTERNERS/BIAFRANS IN THE NORTH AND INDEED IN OTHER PARTS OF NIGERIA TO SEND THEIR WIVES AND CHILDREN HOME IMMEDIATELY BEFORE 30TH OF JANUARY 2014 OR BE HELD RESPONSIBLE FOR ANY CALAMITY THAT BEFALL THEM AFTER THE GIVEN DATE,
2. WE ALSO URGE ALL EASTERNERS/BIAFRAN TO BE READY/PREPARED TO DEFEND THEMSELVES WHERE EVER THEY ARE IN CASE OF ANY FORM OF ATTACK ON THEM BY ANY SECT OR GROUP BE IT RELIGIOUS,TRIBAL OR POLITICAL SINCE NIGERIA HAS FAILED IN THEIR DUTY TO PROTECT THEM BUT RATHER CHOSE TO HAVE A CLEAN DAY ROMANCE WITH THE BOKOHARAM SECT HENCE PLAYING GAMES WITH THE LIVES AND PROPERTIES OF INNOCENT EASTERNERS/BIAFRIANS
WE CANNOT FOLD OUR ARMS ANY MORE AND WATCH THIS HORROR GROW DAY BY DAY, WE CANNOT FOLD OUR ARMS AND WATCH INNOCENT BIAFRANS MASSACRED MERCILESSLY IN THE HANDS OF THESE NORTHERN GROOMED BLOOD SUCKING DEMONS CALLED BOKOHARAM,
ENOUGH IS ENOUGH, TO BE FORE WARNED IS TO BE FORE ARMED.
UDO NU.
from Biafra Ogbajirigwe

Wetin dis one dey talk sef

ocelot2006:


The Japanese Yen's quite similar to the Naira when compared against the dollar. The same goes for the Chinese currency thats intentionally kept lower than the dollar. Maybe these two economic powerhouses know something YOU dont know before you spewed that garbage of yours called a post.

Its not about being lower its about the stability in rates, the fluctuations of our naira its too much there is supposed to be some allowable limit as indicated by cbn but its not going as planned.

Look at the Yen and see that its been relatively stable over the last say 20 years whereas our Naira in just 1 year is behaving like NEPA.

taharqa: NO, @otokx: am not insulting you, guy; am just calling it as it is. You are reali an OLODO and an IGNORAMUS. For instance, Nigeria's NonOil Exports wud actuali be bw $8-$10billion this year (compared to about $3billion for the last 2years and about $1billion or less just some few years ago). As a mata of fact, d data suggests that Nigeria is clearly on a path of finally Diversifying its Economy. In same vein, Inflation RATE has actuali decreased significantly from more than 12% yr-on-yr sometime last year to Single digit 7.8 in October this year (in fact, d Inflation Rate has basically been in d Single digit this year- a rare and a very very significant development). On Exchange Rate, yes d Naira has declined by about 2% so far this year against d Dollar, but still it is still one of d 'better' performing in d world, esp amongst d large Developing Economies (like Russia, India, Brazil, etc) where uncertainties in d global Economy particularly d temporary flight of international capital due to d expected quantitative easing earlier planned by d US Treasury. The CBN has been trying to keep d Exchange Rates relatively stable within its budgeted targeted range of #155(+/- #3); and they are largely succeeding in doing just that.... Your Assumptions, that formed d basis of yr Rants, are therefore wrong (or largely so except d dip in Oil sales). In other words, yr 'facts' are Wrong. So you see @otokx, when I call you an IGNORAMUS, am not actually insulting you; I just am saying it as it is...

Bros, You are the real Olodo! You claim that our non-oil exports is 3 times bigger, yet the Dollar is getting stronger against Naira by the day. All those things you talked about are in the paper, manipulated to deceive people! We don't need anybody to tell us when the economy improves, the result will be seen in the faces of Nigerians. Keep you lies to yourself!

Really nice. With a liter for 97naira I spend 30k on fuel in a month.

Economic expansion. Really nice.

congrats then to them

http://central-business-district./spacious-hall-for-all-kind-of-social-and-corporate-events-in-the-heart-of-abuja-for-hire-iid-574395829

taharqa: NO, @otokx: am not insulting you, guy; am just calling it as it is. You are reali an OLODO and an IGNORAMUS. For instance, Nigeria's NonOil Exports wud actuali be bw $8-$10billion this year (compared to about $3billion for the last 2years and about $1billion or less just some few years ago). As a mata of fact, d data suggests that Nigeria is clearly on a path of finally Diversifying its Economy. In same vein, Inflation RATE has actuali decreased significantly from more than 12% yr-on-yr sometime last year to Single digit 7.8 in October this year (in fact, d Inflation Rate has basically been in d Single digit this year- a rare and a very very significant development). On Exchange Rate, yes d Naira has declined by about 2% so far this year against d Dollar, but still it is still one of d 'better' performing in d world, esp amongst d large Developing Economies (like Russia, India, Brazil, etc) where uncertainties in d global Economy particularly d temporary flight of international capital due to d expected quantitative easing earlier planned by d US Treasury. The CBN has been trying to keep d Exchange Rates relatively stable within its budgeted targeted range of #155(+/- #3); and they are largely succeeding in doing just that.... Your Assumptions, that formed d basis of yr Rants, are therefore wrong (or largely so except d dip in Oil sales). In other words, yr 'facts' are Wrong. So you see @otokx, when I call you an IGNORAMUS, am not actually insulting you; I just am saying it as it is...

Nna mehn, are Okonjo-Iwealla or Lamido Sanusi. I think am loving you.

As long as western multinationals are making profits out of your blood and sweat they will claim taht your economy is doing well, how come your economy is doign well but the majority of the people in the country are living in penury? I thought the mark of prosperity of a country is measured by the standard of living of its people.

Until Nigerians wake up and understand that the IMF are a predatory gang of international economists/bankers whose only objective is to reduce africans to a state of destitution and starvation this situation will continue. There is no african nation that haas gone down the IMF route that has come out economically stronger, not one, and yet many delusional nigerians continue to pin their hopes on this agent of neo colonial economic exploitation.

Okonjo Iweala is an enemy of nigeria along with other so called foreign trained technocrats who have been positioned within the govt to facilitate the transfer of nigeria's wealth into the hands of european and american banking cartels. I am really tired of hearing the same old BS about how well nigeria is doing when all i see in nigeria is mass poverty and suffering of the people.

kmariko: IMF lauds Sanusi, Okonjo-Iweala for strength of Nigeria’s economy in 2013
Posted by: The Citizen in Business, Headline 2 days ago December 6, 2013

The International Monetary Fund (IMF) has declared that Nigeria’s economy performed well during 2013.
The IMF Mission Chief and Senior Resident Representative in Nigeria, Gene Leon, stated this during a visit to Nigeria between November 13 and 26 to conduct discussions for the 2013 Article IV consultation.
The mission met with the Minister of Finance and Coordinating Minister of the Economy, Ngozi Okonjo-Iweala; the Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi; senior government officials; members of the legislature; and representatives of the private sector with a verdict that Nigeria’s economy did very well during the year.

The Fund’s mission issued a statement at the conclusion of the visit, which reads in part: “Nigeria’s economy has continued to perform strongly in 2013. Real GDP grew by 6.8 percent in the third quarter of 2013 (compared to third quarter 2012), supported by robust performances in agriculture, services, and trade. Oil theft/production losses have adversely impacted export receipts and government revenues, leading to a significant drawdown from the Excess Crude Account. Inflation declined to 7.8 percent (end-September 2013) from 12 percent at end 2012, in part owing to lower food prices and monetary policy implemented by the Central Bank of Nigeria (CBN). The exchange rate has been stable, and the banking sector is well capitalized with low levels of non-performing loans.
“Although the outlook is positive, risks need to be managed. Growth is projected to increase to about 7 percent in 2014, while inflation should remain subdued in the single digits. Nigeria could be affected, however, by a decline in oil prices, the pace of recovery in global economic and financial conditions, capital outflows, continued losses in oil production, or increased security concerns. At the same time, the economy can manage such shocks given a relatively flexible exchange rate regime, improved financial crisis management capacity, and a stable banking system. But fiscal buffers are low and a sustained high rate of growth is needed to reduce unemployment, and poverty.
“Fiscal consolidation is progressing well, and the momentum needs to be preserved through the ongoing election cycle. Key public financial management reforms are underway, including the implementation of a Treasury Single Account (TSA) and integrated information management systems, but lower-than-budgeted oil revenues are impacting budgetary plans at Federal, State, and Local levels and highlighting the need for rebuilding fiscal buffers to manage oil revenue volatility. Moving toward a sustainable non-oil primary deficit path will require resolve in continuing fiscal consolidation, including through resisting procyclical election spending, mobilizing non-oil revenue, improving efficiency in the public sector, and strengthening transparency in oil sector governance.

“The current monetary stance is appropriate and should remain geared towards sustaining low inflation and a stable financial system. Managing liquidity in the banking system remains a priority, and will be aided by the implementation of the TSA and prudent fiscal management. Likewise, the CBN has maintained stability of the naira, containing inflation and facilitating business confidence. However, the continued importance of oil receipts and the magnitude of portfolio follows present potential vulnerabilities, and exchange rate flexibility may be a useful tool in the event of persistent pressures. Ongoing initiatives to strengthen the supervisory framework, including supervision of banking groups, should continue, and Asset Management Corporation of Nigeria’s activities phased out gradually.
“To promote inclusive growth and mitigate the impact of vulnerabilities, ongoing structural and institutional reforms should be pursued resolutely. The 20/20 Vision and the Transformation Agenda provide a framework for ongoing reforms, including the privatization of the generation and distribution of energy, initiatives to increase food security and viability of agriculture, and programs funded through the Universal Basic Education Commission to improve human capital development.

In addition, access to financial services for small-and medium-size enterprises, which have been key in many countries to enabling all to benefit from growth, could be improved. Other initiatives to improve the business environment and investment promotion could support diversification across sectors, but should be underpinned mainly by improvements in productivity and competitiveness. Growth in the next decade will need to rely on the continued implementation of reforms to strengthen institutions, improve efficiency, and prioritize quality infrastructure investments.
“The mission would like to thank the authorities and technical staff for their excellent cooperation”, the statement added.

what a joke

strength on charts and papers.
https://www.nairaland.com/1548895/guaranteed-admission-ghana-admission-university#20102215

FOOL FINDER: Joke of the century,and yet the naira keeps falling behind the dollar.

the naira has been at a stable 160 to the dollar for 2 years straight. We have never had this type of currency stability since colonialism.

mcdonaldskofi:

oga y u dey vex na..make u no vex again, i no say u neva chop since morning..me sef neva chop dats y all these economic grammer dem de speak i no understand am.tke heart u hear

mcdonaldskofi:

oga y

I don't know much about economics but I know the reason this growth is not been felt by Nigerians is due to lack of basic Infrastructure...If we can succeed with the power reforms for example ,the impact of this growth will be overwhelming

cap28: As long as western multinationals are making profits out of your blood and sweat they will claim taht your economy is doing well, how come your economy is doign well but the majority of the people in the country are living in penury? I thought the mark of prosperity of a country is measured by the standard of living of its people.

Until Nigerians wake up and understand that the IMF are a predatory gang of international economists/bankers whose only objective is to reduce africans to a state of destitution and starvation this situation will continue. There is no african nation that haas gone down the IMF route that has come out economically stronger, not one, and yet many delusional nigerians continue to pin their hopes on this agent of neo colonial economic exploitation.

Okonjo Iweala is an enemy of nigeria along with other so called foreign trained technocrats who have been positioned within the govt to facilitate the transfer of nigeria's wealth into the hands of european and american banking cartels. I am really tired of hearing the same old BS about how well nigeria is doing when all i see in nigeria is mass poverty and suffering of the people.

You are right my friend. Institutions like the IMF are tools of neocolonialism. With the IMF and others, Africans does not need to be colonized or shipped to work in plantations anymore, they can be enslaved in Africa without anyone raising an eyebrow.
When Europe was in trouble they got the Marshall plan. Africans only got predatory financial institutions.

It is best to keep quiet when you don't know much about a subject. YES, Nigeria is doing better, but she still has a long way to go. We may not agree with all of the CBN governor and Min. of Finances' policies, but we should give credit where it is due. Some people would only see black even when staring at basin of salt. Na wa.

People kept complaining bitterly about the IMF and how it apparently crushes the economy of every nation it lends to. Please, don't be hypocrites. No lender gives out his funds without securing a means for its repayment. You call it a neo-colonial scheme or whatever, and you may be right.
The truth is no matter how the other nations wish you well and offer you 'tremendous' assistance, not one of them want your nation to become master over theirs. Because of why?? We all want to stay on top. Besides, nobody forced your government to eat their tommorrow's yam, sell their birth right and come beg for crumbs from their tables.
How you make your bed, that's how you lie on it.

do you guys believe this shit ?
they say our oil revenue is dwindling. banks still lend at high interest rate The lowest a bank can lend you is 22% and he highest fix deposit you can get from them is 10% . no job. dollar to naira keep increasing . income earning is low . and they say economy is growing 6% . do you believe this govern who can lie at anything ? they even falsify receipt of payment to ASSU account or they can't even produce evidence of payment . they lie at will . and because one IMF official conducted one lausy economic projection and you guys are here believing them . the government who always contradict themselves. mumus abeg drop me here