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Nairaland Forum / Nairaland / General / Politics / Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures (4501 Views)
Effects Of Brexit Results On The African Largest Economies / Dokpesi's Son At Aso Rock, Presents Card To Buhari (see Photo) / Nigeria Removed From From The List Of Fastest Growing Economies (photos) (2) (3) (4)
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 3:29pm On Mar 14, 2016 |
Habakus:All those achievements were simply a direct result of high oil prices. If you doubt, kindly tell us what those figures were reduced to between October 2014 and May 2015 when the oil price crash began?.... Quit deceiving yourself, the info and statistics are all available for your consumption. 2 Likes |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 3:39pm On Mar 14, 2016 |
dtruth3:The point I'm trying to make is very simple, Nigeria is a mono-economic nation solely dependent on the sale of oil. The oil price crashes and Nigeria's economy crashes directly proportionally. A similar trend happened in 2008 the last time oil prices crashed and several oil producing countries are presently suffering exactly the same calamity as Nigeria. So quit your political sentiment fuelled 'I-am-too-smart' position and get your elementary facts right. 2 Likes |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by dtruth3(m): 4:10pm On Mar 14, 2016 |
obailala: According to your previous logic, the oil price started crashing when Gej was in power, and rightly so. Everyone remembered how APC and buhari was very critical of Gej and PDP, even in the midst of obvious reasons that oil crash was responsible. Now here are the Posers.. *Did Buhari and APC not remember that Nigeria is a mono economy, before promising heaven on earth? *Was Buhari and APC not aware that oil was crashing, before boosting they were going to make 1naira equal to a dollar? *Was APC and Buhari not aware that when 'Oil crashes, Nigeria economy crashes directly proportionally' according to you, before promising they were going to Feed our school children, pay 5000 to 25million vulnerable Nigerians, generate 20,000mw electricity, and even promised to stabilize global Oil price? Pls kindly answer this few questions before we move ahead to the next stage.! 2 Likes |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 4:31pm On Mar 14, 2016 |
dtruth3:Your questions have nothing to do with this thread (except you would want to open a new thread). Remember this thread is about how Buhari's incompetence has led to a crash of Nigeria's GDP growth from the high figures Nigeria enjoyed during the heydays of GEJ? I have simply come in here to puncture that lie and expose the ignorance of the Op and those cheering him on. Regarding your diversionary questions, politicians are politicians and they will always make incredulous promises towards elections. GEJ promised heaven on earth, we had the opposite which even worsened when oil price began to crash; likewise Buhari and co. It is left to me and you to use our intelligence to discern realistic promises from unrealistic ones. Something else you need to note is that Buhari hasnt spent up to 25% of the tenure time (and he still grapples with rock-bottom oil prices), so it is pointless to judge his reign now or to compare his short reign with that of someone who spent over 5 years (when the nation had unprecedented oil boom). In all fairness, if oil prices remain low, the only reasonable assessment of Buhari's government should be in his ability to reasonably diversify the economy within 4 years; any attempt to make a direct comparison between he and GEJ (in terms of infrastructure) especially with the rock-bottom oil prices is not only unreasonable but also silly (but even at that, I'm sure he would do better at infrastructure because we wouldn't be having incessant cases of contractors pocketing money and disappearing). |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by dazdilijae(m): 5:40pm On Mar 14, 2016 |
[quote author=dtruth3 post=43764318] You're such a funny character dude, just imagine your smartness! But guess what? You're not too smart. While I won't waste my MB on that your faked sit, Now let me give you small ORGASM Using your own screwed logic, the fact is; as at 2015 when Gej was still in power, Nigeria's GDP rose to 7% as seen in that chat. Then came the General Election and all the baggage that goes along with it. Including but not limited to Economic tension, lack of confidence on the part of investors. The fear was that the incoming administration would not continue with the already well established Policy direction. Indigenous and Private investors were not let out, skepticism was felt in almost all the sector of the economy, particularly because nobody knows what the direction of the new administration would be. So everyone was waiting, and what did Buhari do? He came and hit the ground siting as evident in the time it took him to constitute ordinary cabinet, instead of hitting the ground 'Running' as promised during the campaign. He introduced 'body language economics' in our political and economic lexicon, he refused Thanks for schooling him, they think it's still campaigns 1 Like |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by Nobody: 6:32pm On Mar 14, 2016 |
OZAOEKPE:. We are talking about economic growth and u are talking abt parties #smh 1 Like |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by chigoizie7(m): 6:33pm On Mar 14, 2016 |
obailala: I want to answer one of the questions u asked. Which is, who is in charge of naija economy in the 2Q of 2015. The 2nd quarter of 2015 is between PMB(owards the last quarter). I know where u are driving @, but I only answered your question. 1 Like |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by Nobody: 6:47pm On Mar 14, 2016 |
The point I'm trying to make is very simple, Nigeria is a mono-economic nation solely dependent on the sale of oil. The oil price crashes and Nigeria's economy crashes directly proportionally. A similar trend happened in 2008 the last time oil prices crashed and several oil producing countries are presently suffering exactly the same calamity as Nigeria. So quit your political sentiment fuelled 'I-am-too-smart' position and get your elementary facts right.[/quote]. What people just don't realise is that it's not possible to repair Nigeria over a night. Fashola didnt transform Lagos to a better place within a short time, he even had to destroy lot to be able to achieve what Lagos is today not to now talk of a nation called Nigeria guyz we need to sacrifice some things and endure the pain in order to make Nigeria a better place tomorrow. Thank you |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by greatiyk4u(m): 6:52pm On Mar 14, 2016 |
dtruth3: You go this length just to subdue the truth? |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by khSteel: 7:16am On Mar 16, 2016 |
skebuzor: fashola couldn't have achieved much without massive funds from the FG; do you know the amount of funds FG pumped into Apapa ports alone to achieve 48 hours of cargo processing? Fashola tried; but the big brother that made almost everything happen was/is the FG. FG provided the platform that stimulated all the growth you see in Lagos by making it a lot attractive to most foreign companies in Lagos. Fashola is within the FG now; tell APC to get to work and quit all these nonsense talks, nobody cares really! |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by Nobody: 7:27am On Mar 16, 2016 |
igwe123: Its not about oil but about maintaining what was given to you. The government never believed we had economic growth under GEJ so they never took step to maintain it. |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by Nobody: 7:30am On Mar 16, 2016 |
baby124: APC like you never believed the economic growth under Gej was real so they never took step to maintain it. That is the reason no budget to run the nation till now. If they had just believed even if it was fake we will not be here. Delay is dangerous. |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by Nobody: 7:37am On Mar 16, 2016 |
Economic dull@rdism |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by khSteel: 7:42am On Mar 16, 2016 |
obailala: Your chart seems very correct but you failed to understand the chart you provided. Nigeria was hit by two (2) major events in q3 2014 - "Ebola & 'drop in oil price'"; funny enough the 'drop in oil price' didn't affect the Nigeria economy much cause most foreign investors has already bought into the Nigerian future. Then Ebola hit and greatly questioned that future, believe it, Ebola hit the Nigeria economy at the very center and the govt of the day rallied hard to assure all/sundry of its capacity to handle such challenge and luckily they were successful. Then APC did their convention in q4 2014 and selected GMB; the whole economic outlook of Nigeria was instantly changed. Most investors and foreign partners saw danger with Nigeria going into 2015 because of the predictions of Nigeria 2015 breakup and the North/South divide & tensions. q1/q2 2015 saw great tension in Nigeria that affected practically everything (project funding, etc were paused all round) {ask anybody managing funds & investments}; GEJ tried to salvage the situation and gave us a smooth transition which instantly rekindled investors confidence in Nigeria...that's why the Nigeria Stock Exchange saw massively bullish movement of funds 1 - 3 weeks after GMB was sworn-in; however, GMB failed to build on that instant glorious momentum to take Nigeria to greater height. q3/q4 2015, GMB took forever to do the simplest things required of a new govt coupled with some of his unguarded statements, some serious investors moved their funds to Botswana and other locations. I know of three (3) serious projects that scheduled for mobilization q3 2015 but the funds was rather moved to Botswana. Summary: APC govt needs to step-up and take control of the economy and make pronouncements that simulate investors confidence in Nigeria. That's the way to go. No serious parent go out to the public to tell the world that their kids are stupid, criminals, thieves, etc. You rather do your cleaning in-house; and ensure that you send out a strong message that you are truly cleaning house irrespective of party/ethnic/regional sentiments or any other useless sentiments out there. 1 Like |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 9:05am On Mar 16, 2016 |
khSteel:You just put the blame of the falling GDP growth under GEJ on ebola and emergence of buhari but you trivialised the primary problem being the oil price drop. Then you go ahead to claim again that Buhari's misdeeds made the growth rate to fall further when he assumed office; failing again to acknowledge the biggest primary reason being the acute shortage of forex due to negative trade balance ocassioned by a further dip in oil prices. Such a desperate attempt to politicise a common sense economic problem. You carefully absolve GEJ of all the blame and then heap the blame totally on PMB's head; you even blamed PMB as being part of the reason for the fall even as far back as 2014 when PMB had not dreamt of winning the election yet. Interesting! And here was I thinking it was only the APC guys that knew how to play the blame game, but yours is truly legendary! 1 Like |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by Ahmeduana(m): 9:24am On Mar 16, 2016 |
baby124:WHAT YOU DON'T KNOW IS THAT IS DIFFICULT TO BUILD WHILE IS EASY TO DESTROY. |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by khSteel: 10:34am On Mar 16, 2016 |
obailala: First I did not trivialized anything, as at the time in question, oil price was still above $50 and Nigeria's economy was still fine (and its still fine till today but requires urgent attention). Who told you that Nigeria has acute shortage of forex? If so, why did GMB authorize CBN to give forex to people going for Haji in 2015 at the rate of N160 to $1? What happened with and after that stupid move? More people rushed and secured forex at a ridiculously low rates and pushed same to the black market thus triggering a chain reaction which the CBN is currently battling. Bros, please find out how much forex Nigeria really needs and why has some privileged Nigeria with access to Aso Rock has chosen to use the BDCs to short-change Nigerians. Imagine CBN telling Dangote that irrespective of the amount of forex it needs ---CBN will provide it for them. Imagine Dangote writes to CBN requesting for $1 billion and securing the said amount while it actually needs lets say $250 million. What do you think will happen to the balance of $750 million? Should that money gets funneled back to the system through the BDCs, how much profit do you think some people stands to get? This should really give you a clue to whats really going on in your economy. The focus of my write up is not to blame anyone rather on the true situation and the way further. 2 Likes |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 11:29am On Mar 16, 2016 |
khSteel:No!.. The focus of your write-up is strictly to heap blames on Buhari's head. Go and re-read all you've wrote. |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by foriz4u(m): 12:08pm On Mar 16, 2016 |
baby124:a fool will always remain a fool. so pathetic |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by sdindan: 12:21pm On Mar 16, 2016 |
obailala: Then What's ur senile old president doing about the economic. You're always happy blaming the past. 1 Like |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 12:25pm On Mar 16, 2016 |
sdindan:I am not blaming any past, I was only exposing the wilful ignorance and hypocrisy of your likes on this thread who claimed everything was rosy until the old president came on board. Go and cure your ignorance. |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by baby124: 1:44pm On Mar 16, 2016 |
foriz4u:Your father is a fool for not pouring you as sperm in a trash mound where he met your mad mother. Fool. No home training |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by Adminisher: 2:50pm On Mar 16, 2016 |
ammyluv2002: It is lack of exposure. When you educate yourself more and get nore experience things will be more comprehensible to you. Economies are not grown in a day. The position we were before was purely oil driven. The Qatar you see there is an example of a country with smart forward looking leaders |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by ammyluv2002(f): 2:53pm On Mar 16, 2016 |
Adminisher: |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by khSteel: 3:47pm On Mar 16, 2016 |
obailala: Bros, you were blaming the wrong horse and I simply gave you the true narrative which you choose to ignore. The essence of my post is to call GMB/APC out on their steady shortcomings; GMB/APC should simply focus on their jobs and improve on what GEJ left behind. If GEJ was not on the right track, why is APC not abandoning most of his policies and programmes and initiating theirs (except for YouWin, of course), oh I forgot, most of their own intended policies are meaningless policy initiatives. If APC is seriously working, why is there loss of momentum in the Agriculture sector from where former Agric minister (Adesina) left off? Bros, APC honeymoon is long over, we are telling them that enough of all these nonsense talk. Talk is Cheap. They should get to work. One year is gone already. However, if you are still looking for who to blame...maybe you should kindly develop enough guts and point the searchlight on OBJ; lets ask him what he did? GEJ stopped the payment of salaries to over 50k ghost workers and over 65k ghost pensioners...all of whom OBJ govt paid monies to. The same GEJ you lots are demonizing cleaned up at least 70/80% of our civil services by digitizing most of their processes thus eliminating a whole lot of avenues for fraud. Again, its time the "bulk start stopping at the table of GMB"; enough of the media rhetoric. |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 4:10pm On Mar 16, 2016 |
khSteel:Governance is a continuum; that I say a previous government wasn't doing well does not automatically mean all their policies were defective and must be stopped - I don't know why adults must continue to interpret situations in this way. That a project was initiated by an administration but was not properly followed through, that is not to say the new government should then cancel the project and start its own. There has never been a deficiency of good policies or 'ideas' in Nigeria, implementation has always been our problem; it is one thing to have policies and it is another thing to implement them. Continuing good policies, implementing the unimplemented ones and improving on what the past admin left behind is the mandate of any new government which is reasonable and that is what the current government is doing. By the way, only God knows what you mean by saying there is a loss in momentum in Agriculture. 1 Like |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by khSteel: 8:11am On Mar 17, 2016 |
obailala: @ the bolded. The current news in the media is the talk of "importing grass"...please tell me, if the former agric minister Adesina was still around, 'would he be talking such nonsense' Your other comments are neither here nor there. I don't have free time to start explaining the basis which I expected this discourse to be way above. Regards. |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 9:08am On Mar 17, 2016 |
khSteel:When a person's mind is biased and prejudiced, there is no amount of explanation given to such a person which would make sense to him; just the same way in which the hardest man to wake is the one who is feigning his sleep. FYI, the ministry is importing high nutrient hybrid grass seedlings to plant and start producing in Nigeria; they are not importing grass for cows to eat and YES, if the former agric minister was still around, he would have done the same because he is knowledgeable in these things. I'm sure if you were not prejudiced you should have been able to read beyond the catchy title given in most blogs on this issue before drawing this your strange conclusions. And yes, all over the developed world, people import improved seedlings to plant and increase their yield or to produce what they hitherto did not produce, even with the rice revolution by the former agric minister, most of the rice planted in Nigeria today were from imported seedlings. The guy heading the agric ministry today might be a politician but he is a renown farmer; he isnt silly. |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by khSteel: 9:32am On Mar 17, 2016 |
obailala: You are clearly off tangent with your vituperation of the so called biased & prejudiced allegation/statement. All your other comments amounts to waste of energy & time. Please, remind me how many University of Agriculture we have in Nigeria; did it occur to you, your farmer minister and those you represent to engage them? Or you guys are simply looking for avenues to access our limited forex at the official rates and then round-tip some of the funds. Goodbye! |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by obailala(m): 10:45am On Mar 17, 2016 |
khSteel:Even if Malaysia for example had 1 million universities of agriculture, they wouldn't have still been able to produce the first palm seed they planted many many years ago; they imported the first palm seed and today they are the world's largest exporters of palm oil. Similarly, the brilliant mind which you cited as a perfect example of wisdom, knowledge and integrity (Akinwumi Adesina) also imported improved seedlings of rice to promote the Nigerian rice revolution which we still celebrate till date. FYI, he did that because he is a man who is knowledgeable in things like this, and not because he wanted to access forex from CBN or loot money as you are presently alleging out of the abundance of your wisdom. http://www.news24.com.ng/National/News/FG-to-import-improved-rice-seedling-20121011 Like I said earlier, it is next to impossible to wake a man who is feigning his sleep, so I wouldn't bother any more to try and educate a person who due to sentiments, has blocked his ability to discern even the simplest things. I would however leave with a simple statement - whether you agree or not, whether you hate the idea (or the people) or you like them, whether you are bitter or not, that is your cold cup of tea to deal with, but what you feel or think does not change the commonsensical fact that just like importing raw materials for local production of value goods, there is nothing wrong in importing improved seedlings for planting here in Nigeria to boost our crop and/or animal production. Good day! 1 Like |
Re: Nigeria Falls Off List Of Fastest Growing Economies Under Buhari(See CNN Figures by foriz4u(m): 1:20pm On Mar 18, 2016 |
baby124:hahahaha.... I can imagine d anguish... foolish man |
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