The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, has said that although 2015 has so far been a tough year for Nigerians, 2016 would be tougher.

Adesina, according to a post on his Facebook page on Tuesday, gave the submission while featuring on an interview programme on a private radio station, Radio Continental 102.3 FM.

The presidential spokesman argued that as much as the dwindling oil price continues, things would be tougher especially in the early part of the new year.

“I agree that 2015 has been a tough year, but then it’s like 2016 would still be tougher, at least in the early part of that year. We have been running a mono-product economy based on oil, and as long as oil prices remain down, things will be tough,” he said.

Adesina however assured Nigerians that with President Muhammadu Buhari in the saddle, Nigeria is in good hands.

He recalled that things were also rough for the country as at 1983 when Buhari took over as a military Head of State.

He said things started looking up for the country after a few months before the President was ousted.

Adesina argued that Buhari can do it again.

He said there was hope after the turbulence in the country.

He therefore solicited the support of all Nigerians, irrespective of their political affiliations.

He said, “What I like to say is that Nigeria is in good hands. The times are rough, it could get rougher in the nearest future, but it would then get better.

“Don’t forget that in 1983, times were really very rough with Nigeria also. Then, there came a Head of State who began to reset the buttons, began to relay the foundations.

“And 20 months after, things were getting better, before a spanner was thrown in the works. That person, who is now the President, can do it again. I will just tell people to be patient. Rough times would come, but we will survive it.

“Tough times may be here but it will be over. There may be some turbulence, but after some time, we would begin to cruise. This President would get it right.

“We need to be patient and lend support. A number of people have decided to be critical, even when criticisms are not necessary. We are not in pre-election mode again.

“I would like to tell them that elections are over. In other parts of the world, when elections are over, they all team up and move the country forward. Let’s do the same with Nigeria.”

On the recent increase in electricity tariff, Adesina said unless the tariff was increased, there is no hope for better electricity supply in the country.

He added that Nigerians would have to trust and believe the administration that if tariff went up, things would get better.

“It has become inevitable that if things are going to get better, then tariff would have to increase. I would like to join Mr. Fashola to say, can we then trust the government, trust the minister and believe that with higher tariff, things would get better,” he said.

http://www.punchng.com/17869-2/

tough for who

Year 2016; welcome to reality and goodbye to recklessness

THAT IS WHY YOU NEED TO LEARN HOW TO GUARD YOUR SAVINGS AGAINST INFLATION

Brief Economic Analysis and Forecast for Year 2016
Two big bosses that inevitably affect purchasing power of buyers all around the world at different times are inflation and deflation. While later is positive, the former is the bigger boss and often deal a big blow to savings and investments of individuals; the purchasing power of buyers are reduced in accordance to inflation rate, it gives headaches to producers and consumers.
Statistically, this analysis will be centered on forecast and current data from Nigerian bureau of statistics, central bank of Nigeria and happenings in commercial banks across the country. Naira has lost more than100% of its value between 2007 and 2015, one US dollar was exchanged for 120 at naira value in 2007, and the equivalent of $1 is about 269 naira right now. No economy is indefinitely resistant to inflation, not even the developed nations in Europe and America. Our foreign reserve has currently declined from $43.13 billion in 2015 to $29.92 billion in last quarter of 2015, we depend so much on imported goods to survive and 90% of our revenue is based on dwindling price of crude oil. These warning signs on our economy dashboard is enough to tell us the pace at which it will move in the next two years.
However, recent development in global oil market is not encouraging, and it will give better blows to economy of insane country like Nigeria that has the potential to tap into other sectors like agriculture and solid minerals which are found in almost every nook and cranny of the nation. Nigeria has been displaced by Angola whose oil production is more than 300,000 barrels per day compared to Nigeria oil production, this has secured a top position for Angola amongst oil producing countries in Africa. Currently, supply of oil is quite beyond the demand for it in the world right now, with US which is just about to start massive oil exploration which will ensure output of 6 million barrels per day into market very soon. When this happen, your guess is as good as mine. Russia federation is planning her finance based on forecast of $20 per barrel and almighty Iran has made it known that it is profitable to her even when she sells her crude oil at $10 per barrel. To state the obvious, a country with foreign reserve that is this low is in deep economic mess.
The fact that companies that produces consumer goods and food industries are downsizing and retrenching is enough bad signal. The effects of current inflation rate of 9.5% will soon be felt in our markets, Nigerians can only be optimistic that this inflation rate will not become 2-digits in first quarter of 2016 with possible removal of government subsidy from petrol and other petroleum products.
How are you preparing for this? What can an average citizen do to cushion the effects of inflation on their savings and investments? The answers to these questions is only a click away. As youth of this country, times like this cannot be avoided in our national history, it will always come and go. There is no better time to brace up for this challenge than this moment of our life.

https://thinkerspool./2015/12/20/brief-economic-analysis-and-forecast-for-year-2016/

You may want to read about things you can do to safeguard your savings
https://thinkerspool./2015/12/20/how-to-protect-your-savings-from-inflation-in-nigeria/

Prophet Fayose predicted hard times come 2016 only for unrepentant and narrow-minded APC goons to call for his head


Now another member of Buhari's cabinet has predicted/prophesized the exact things

Buhari needs the healing balm seriously

Welcome to Osun economics.

Borrow recklessly with nothing to show for it and keep blaming Jonathan.

Year off 10 bottles of Moët and exotic champagne is over in Nigeria. Welcome to the real world! Where everyone become forward and critical thinker to be innovative and entrepreneurs.
God bless Nigeria.

They want to Osunize the nation.