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ABUJA – ‎A coalition of over 60 Civil Society Organisations, CSOs, in Nigeria, yesterday, decried what they termed “steady and continuous decline of the Nigerian economy” under the watch of President Muhammadu Buhari.
The groups, at a strategy meeting they held in Abuja yesterday under the aegis of ‎Nigeria Civil Society Situation Room, said there was urgent need for President Buhari to evolve a sustainable economic plan that will attract foreign investors into ‎the country.
‎The leader of the coalition and Executive Director of Policy and Legal Advocacy Center, PLAC, Mr. Clement Nwankwo, in his opening remarks, said the “dwindling economic fortunes of Nigeria” could be a function of the inability of President Buhari to appoint his Ministers six months after he assumed office.
He said: “The major challenge we are currently facing is that we cannot see the urgency of ‎this administration to improve the situation. It was unfortunate that after the six months that it took to come up with list of proposed Ministers, those we saw are those that have always been around the hood.
“Why it took so long to forward their names to the National Assembly is quite a puzzle to us.
“Why Ministers who have been cleared have not been sworn in is also a puzzle to us. We are almost in the first week of November. The laws are clear that government should have submitted its budget projections for 2016 by now.
“We would have thought that Ministers would have been around to help finalise budget for presentation to the National Assembly.
“Everyday we hear on social media that some people have returned money they stole from the treasury. The government should do well by telling us who they are, the amount returned and since the money is unanticipated, we should be told what it will be used for.
“So much information and misinformation is a major worry for us. We are desperately concerned to see the government begin to function”.
Nwankwo also faulted the current foreign exchange regime operating in the country, saying, “person who is attune with modern day economics cannot recommend such”.
According to him, “We want to see change reflect in proper und‎erstanding of the Nigerian economy”.
Likewise, the Chief Executive Officer of Economic Associates, Dr. Ayo Teriba, in a paper entitled ‘Towards a Policy Framework For Economic Inclusion in Nigeria”, noted that President Buhari inherited so many economic problems from the past administration.
He however maintained that “this regime should do quick, wake up and address the problems”.
He said: “Using six months just to share portfolios is not how to go about it. ‎Currently, there is fiscal disconnect. The revenue of the government has declined, relative to the Gross Domestic Product.
“Nigeria has the highest economy, yet the lowest revenue. The revenue has steadily declined. The revenue to GDP in 2014 was 11%, while 25% is what non oil producing economies like South Africa, Egypt ‎ and Morocco, have. Other countries like Angola and Algeria that have oil, have higher revenue level of 33%.
“Nigeria should have about 40% like it use to have in 2004. The reason for the decline is not that revenue are not collected, but the leak-out from ‎government processes, e.g, crude oil theft, subsidy fraud, wide spread abuse of administration of import duty and tax waivers, abuses by autonomous income revenue collecting agencies that spend what they collect as they wish, only remitting about 80% to the Federal Government.
“There is also the issue of sectorial ‎and regional exclusion. We currently have one of the worst unemployment rate in Africa. Our economy today compared to 1960 is weaker. Nigeria needs an orderly plan to raise revenue. There is need for this administration to not only stop the leakages, but to also institute periodic watch on impact of fiscal reforms on revenue inflows.
“The new regime should have told us the situation they met at least by May, and what has changed within the first quarter since it took over. It should tell us if there is no more crude oil theft.
“Currently Nigeria has not been attracting foreign investment, we urge this administration to make the economy more attractive. Steady currency regime is required to spur growth”, he added.
‎Aside PLAC, other members of the Situation Room that met in Abuja yesterday included CLEEN Foundation, Action Aid Nigeria, Centre for Democracy and Development (CDD), Enough is Enough Nigeria, Wangonet, Partners for Electoral Reform, JDPC and Youth Initiative for Advocacy, Growth & Advancement (YIAGA), CWAE. Others are Development Dynamics,Human Rights Monitor, Election Monitor, Reclaim Naija, Institute for Human Rights and Humanitarian Law, Centre LSD, CITAD, Stakeholder Democracy Network (SDN), CISLAC, WREP and Proactive Gender Initiative, among others.


http://www.vanguardngr.com/2015/10/nigeria-economy-collapsing-gradually-csos-tell-buhari/?
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Nigeria Needs To Start Practicing AUTHORITATIVE DEMOCRACY..
So As To Curb Corrupt Ministers/Commissioners/Governors Who Loot Funds

Here In Scotland, there is nothing like corruption

May God Help this Nation

The Nigerian economy is bigger than the Hausa/Fulani can control so they have to shrink it enough to keep the Igbos in check.

I want my country back.
Proud BIAFRAN.

We knew

Not completely collapsed, it is still collapsing...

So get our economy off oil Buhari.

After all, it is because we are sooooooo dependent on oil that we are in the state we are in.

If every state,including oil producing states, evolved an economic plan that would enable them develop industries based on what they have in their states, within ten years we would be off oil and we would be on the way to becoming a developed nation.

Until Nigerians stop thinking that oil would save us.....especially now that oil price is falling, and America is almost self sufficient in oil.....we will forever remain backward, together or apart. And when the oil runs out.....we will be back to the stone age.

Nigerians, oil is a curse. It can never be a blessing.....something that prevents you from using your hands to make the things that you waste money importing.....making millions jobless.

MODIFIED: Here is what needs to be done

1)Remove all subsides

2)End corruption. Recover all stolen monies.....even going back to 1960 if need be

3).Savings, savings.

4)Spend money on power, mass transport, and education/science and tech.

That awkward moment when you realised that you have been SCAMMED.

Nigerians are watching.

...
Have you read Business Sense For Bulk SMS Business?

Click https://www.nairaland.com/2647784/business-sense-bulk-sms-business to read now.

See Gobe!
Ok! Am coming Let me tell Baba go slow

Oh! Sorry wrong timing he is on maternity leave in india...
Ah sorry official assignment
Drop your message on voice mail when he comes he will get it.

When did we degenerate to this level? ...BuBU your body odour is needed oooo

I think he should ask GEJ for sincere advice. ......GEJ is a gentle man. PMB is just in that office, he needs genuine help

I wish I can tell buhari too....

What economy is collapsing? When you analyse this way witout addressing the pertinent issues then your biase is obvious .

Obviously there's been no realease of funds in the last 6months .

Nigeria has practically lived through 6months .
Even if ministers are not appointed in a years time .
We would survive .
Hence the need to start creating the foundation for a decent future for young and generations unborn.


Stop tackling the man PMB
Support him.

We were on auto-pilot for 6years .. Abi are we that forgiving to also forget when public funds were looted with impunity .

Like if you PMB is the man
Share if you think APC is a scam we all fell for

Its rather unfortunate.

I weep for the country. Buhari was the best man for the job during the last election.
There was no doubt about it.
From my abode that morning, I jumped for joy as I sang d national anthem with INEC on TV as the old General was declared.

I said to myself, welcome to a new Nigeria.

Fast forward to now, its not just appalling, its disappointing, its shameful.
Buhari has been more than useless, to imagine this was the first president I ever prayed for in my life. I believed so much in him but not now. He is a disgrace, and has betrayed all those who trusted him.

Don't quote me and say I shouldn't be insulting adults or d president.
Cos if obasanjo was called all sorts, GEJ was labelled anyhow, nothing stops us from tagging PMB as deserved.

Let's leave trabalism or politics out. Buhari so far has Failed!

Two questions for Mr. Photography President.

1) If you appoint me for a position and I take 6months like u have taken to set up my cabinet with no immediate momemtum and/or result, won't you boot me out?

2) We know Nigeria was really messed up before you came in, but we expected that you Mr. President knew that but when you know you couldnt perform, why did you force yourself on us?

Yes you forced yourself when you kept coming out and even cried on national TV when you last lost.

My pain, anger and worry is, if d election was to take place again, I will still go for you Mr. Retired General despite how old and useless you have proven to be, so the question is, which way Nigeria? shey none of us get sense ni? Haba mana!

Which economy is collapsing?? is it because Ameachi has been confirm minister? All this talkative self - who you help, Abeg Gerrare here

This is what you get when you allow Duara Illiterate to be president. The economy is bleeding seriously

Which economy? Does Nigeria has one before?

Nigerians would survive it, we've gone through worse. Just keep up the good work baba and don't get distracted

From Africa biggest economy....

I wishes to bring this befose anyone to reduce the harm that some folks are doing,
Anyone who come across this message sent to his email inbox should ignore it or delete it forever , it is a not real, its fake and scam. the original person who name is refer to is not aware of the message. this message is sent by internet fraudsters who want to defraud gullible people.
see an example below:
email id: alicelouisewalton921@gmail.com
I, Alice Louise Walton authenticate this email, you can read about me on:

http://en.wikipedia.org/wiki/Alice_Walton

I write to you because I

continue reading

I'm confident of our steady progress with the present leadership. God bless Nigeria

Which time 9ja economy good b4 self...

Na 2 day ?

Economy that lost billion of dollars under GEJ.


he suppose don collapse since

IF BUHARI CANT PERFORM HIS WORK THEN HE SHOULD BE IMPEACHED

#IMPEACHBUHARI#

We know. The main objective was to return power to the north. It's done, now we have to live with this clueless, photocratic government.

Good.

Right on time.