Nigeria’s second quarter real GDP growth fell to 2.3 percent from the 6.5 percent it recorded this time last year.

This confirms that Nigeria is officially in an economic slowdown, as there was a contraction rather than growth in almost all sectors of the economy. Very few sectors managed to stay afloat.

The new GDP figures echo investor sentiment regarding recent events in the economy. Investors have been opining that the silence of the Presidency regarding the state of the economy has not done much to spur confidence, new investment and growth.

Rather, the economy has been plagued with uncertainty, made worse by the CBN’s knee-jerk reaction to events.

The NBS is now confirming this with hard cold data.

What Nigeria’s paltry 2.3% economic growth tells us…

Looking at the GDP numbers tells something:

Economic output is plunging. It is plunging because spending is not keeping up – i.e., both consumer/government spending (caused by oil-induced austerity) and investment spending (caused by lack of new investment).

The economy is suffering from shortage of new investment, because of 2 factors: policy uncertainty (caused by Buhari) and impediments to free capital flows (caused by Emefiele).

READ FULL AT: http://nairametrics.com/this-nbs-data-is-proof-that-emefiele-and-buhari-policies-are-hurting-the-economy/

OP... It should be just be Buhari alone, he is killing the economy gradually all in d name of style

A new dimension of wailing... Keep it up!

Controversies