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Nigeria Heading Into Recession, Says IMF - Politics (3) - Nairaland

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IMF: Nigerian Economy May Collapse If… / World Bank, IMF Put Pressure On Buhari To Come Up With Economic Blueprint / IMF Says Nigeria Heading Into Recession (2) (3) (4)

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Re: Nigeria Heading Into Recession, Says IMF by TheAlchemist: 8:44am On Jul 20, 2016
tinktanker:
When a Cursed man rules

All i can say is that Buhari may just be unlucky to be in government at this period in time, when all economic indices are going southward!
Falling global crude oil prices, militancy, etc, Buhari does not have the required leadership skill to steer Nigeria through this perilous time, to even compound our problem his age does him no favour. A young vibrant leader with an uncommon vision is required immediately, i hope Buhari would have the moral courage to resign as soon as possible, unless he wants to take Nigerians down with him.

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Re: Nigeria Heading Into Recession, Says IMF by Rapture4real(m): 8:46am On Jul 20, 2016
ijustdey:






http://punchng.com/imf-slashes-nigeria-economic-outlook-forecasts-recession/


Economy will take upward movement when election draws nearer
Re: Nigeria Heading Into Recession, Says IMF by dadebayo1(m): 8:48am On Jul 20, 2016
We are already in recession... Even the ordinary man on the street does not need imf to inform him about recession.. Price of rice, price of garri, price of beans, price of sachet water, price of oil, etc.. Name it all essential commodities have gone up in prices people are finding it difficult to survive what else is recession? truth be told things are gradually falling apart.. Some people will still blame it on the past.. Very bad...

2 Likes

Re: Nigeria Heading Into Recession, Says IMF by Nobody: 8:53am On Jul 20, 2016
Voting d nomadic goat is one of my biggest blunders in recent times!...d senile dumbskull got nothing to offer other than blame!

3 Likes

Re: Nigeria Heading Into Recession, Says IMF by alabiyemmy(m): 8:57am On Jul 20, 2016
Are we not there yet?
Re: Nigeria Heading Into Recession, Says IMF by Temptee101(m): 9:01am On Jul 20, 2016
lukecent:
And all the noise about fighting corruption does not reflect on the economy.

What about TSA savings & petrol subsidy?
They also did not boost the economy.

#ChangeTheChange
Guy as in ehh?
Removal of subsidy
implementation of TSA
All the incessant travels by this dullard
etc....

Yet the economy is still continually slipping downward and increased suffering

2 Likes

Re: Nigeria Heading Into Recession, Says IMF by IBBG(m): 9:02am On Jul 20, 2016
what annoys me most is the i don't care attitude and body language of this administration.

1 Like

Re: Nigeria Heading Into Recession, Says IMF by EllaNkay: 9:02am On Jul 20, 2016
Are we not already in recession ni?
Re: Nigeria Heading Into Recession, Says IMF by 0taPiaPia(m): 9:04am On Jul 20, 2016
lukecent:
And all the noise about fighting corruption does not reflect on the economy.

What about TSA savings & petrol subsidy?
They also did not boost the economy.

#ChangeTheChange

PLEASE READ THIS :-

Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events, such as a financial crisis , an external trade shock, an adverse supply shock or the bursting of an economic bubble . Governments usually respond to recessions by adopting expansionary macroeconomic policies , such as increasing money supply ,
increasing government spending and decreasing taxation .
wkipedia

in all this the FG has refused to respond appropriately to cushion the harsh economic situation as explained in the last paragraph of the above except. they are withholding cash and taxation is currently high in Nigeria
Re: Nigeria Heading Into Recession, Says IMF by dallyemmy: 9:10am On Jul 20, 2016
Instead of playing blame game, we all need to find out what role we should play to bring our beloved nation out of this mess. God bless Nigeria! Amen.
Re: Nigeria Heading Into Recession, Says IMF by NwaTeacher1: 9:16am On Jul 20, 2016
This govt is a joke. I was watching Nta when one useless old asthmatic patient he made our custom controller general was seizing and burning imported rice while Nigerians are hungry. The old man was deceiving Nigerians that imported rice has a negative health issue to their lives. Who made him health minister? Apc is a scam

1 Like

Re: Nigeria Heading Into Recession, Says IMF by henrynick(m): 9:29am On Jul 20, 2016
Pangea:
Heading?
We are already in a bleeding recession and the government is clueless what to do!
Foolish Nigerians , sorry , fellow Nigerians, brace up!
Suffering has just started!






And it will start from you and end with you.....don't say shit with your mouth boy.......its just a recession and it will pass .....so you mean to tell me buhari and co just sit there all day watching the country go down without doing shit??
Re: Nigeria Heading Into Recession, Says IMF by damon222: 9:29am On Jul 20, 2016
psucc:
Expected!!!!

Aside the oil price slump, other factors that induced the recession are the non-articulation of policies and unwarranted utterances by our leaders.
Other reasons in addition, include bad luck of the president. Every body should be very careful, especially those hailers (zombies) who are our greatest enemies. You people continue to praise abi hails this man, Buhari thereby making things/issues worse by the day. Change this praise and turn against Buhari so that Buhari will change the his ways. Buhari is old. If you plus this old age to his normal bad and his usual indesciple and his characteristic of undermining and deregard for people. This country will go down. Remember, he has spent only one year , few month. Every where looked scartered. Every where is without hope and direction. A word is enough for a wise.
Re: Nigeria Heading Into Recession, Says IMF by henrynick(m): 9:34am On Jul 20, 2016
NwaTeacher1:
This govt is a joke. I was watching Nta when one useless old asthmatic patient he made our custom controller general was seizing and burning imported rice while Nigerians are hungry. The old man was deceiving Nigerians that imported rice has a negative health issue to their lives. Who made him health minister? Apc is a scam





Dude you look really stupid .....not one atom of wisdom from all the shit you re saying......if you guys can't come up here and educate the so called zombies you say....den just put an end to your miserable life cause y'all come up here frustrated and bitter without nothing important to add nor common sense to share....nah to just say buhari na this buhati nah that......a lot of people has taken advantage of this situation and are making it bit by bit...you children of nowadays are just lazy as shit and waiting for one white color job......the government is the biggest spender and the budget has not being impl5 that's why we re facing this now so look around and get your lazy stupid ass up and do something fuckface!!!!!!
Re: Nigeria Heading Into Recession, Says IMF by canDy4eva(f): 9:34am On Jul 20, 2016
psucc:
Expected!!!!

Aside the oil price slump, other factors that induced the recession are the non-articulation of policies and unwarranted utterances by our leaders.
true talk!
Re: Nigeria Heading Into Recession, Says IMF by Goke7: 9:38am On Jul 20, 2016
The same IMF that told us to allow our naira float instead of the yuan deal, seriously its high time IMF allow African nations be and decide their own destiny, how long shall we continue to be tied to their apron strings.
Re: Nigeria Heading Into Recession, Says IMF by iykekelvins(m): 9:40am On Jul 20, 2016
canDy4eva:
true talk!
Pardon me ma'am, I don't mean to disturb u


But there's an ongoing contest, and I'd like you to vote for my contestant, please?
Re: Nigeria Heading Into Recession, Says IMF by achi4u(m): 9:42am On Jul 20, 2016
IMF we're not in recession please. We are in trouble, recession is mild in this context grin
Re: Nigeria Heading Into Recession, Says IMF by achi4u(m): 9:45am On Jul 20, 2016
IBBG:
what annoys me most is the i don't care attitude and body language of this administration.
My brother, that I don't care attitude dey pain most. He always appears unconcerned.

1 Like

Re: Nigeria Heading Into Recession, Says IMF by damon222: 9:47am On Jul 20, 2016
henrynick:






Dude you look really stupid .....not one atom of wisdom from all the shit you re saying......if you guys can't come up here and educate the so called zombies you say....den just put an end to your miserable life cause y'all come up here frustrated and bitter without nothing important to add nor common sense to share....nah to just say buhari na this buhati nah that......a lot of people has taken advantage of this situation and are making it bit by bit...you children of nowadays are just lazy as shit and waiting for one white color job......the government is the biggest spender and the budget has not being impl5 that's why we re facing this now so look around and get your lazy stupid ass up and do something fuckface!!!!!!
Na your craziness big pass. If your brain is not worse than that of the greatest dumbest Buhari, why should it take Buhari more than one years to finish with budget. The other day, he took Buhari many months to appoint this dafts and elementary ministers. Daft like you dey talk thrash too.

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Re: Nigeria Heading Into Recession, Says IMF by chavesky(m): 9:48am On Jul 20, 2016
dallyemmy:
Instead of playing blame game, we all need to find out what role we should play to bring our beloved nation out of this mess. God bless Nigeria! Amen.
You must be stupid!!

1 Like

Re: Nigeria Heading Into Recession, Says IMF by NwaTeacher1: 9:51am On Jul 20, 2016
henrynick:






Dude you look really stupid .....not one atom of wisdom from all the shit you re saying......if you guys can't come up here and educate the so called zombies you say....den just put an end to your miserable life cause y'all come up here frustrated and bitter without nothing important to add nor common sense to share....nah to just say buhari na this buhati nah that......a lot of people has taken advantage of this situation and are making it bit by bit...you children of nowadays are just lazy as shit and waiting for one white color job......the government is the biggest spender and the budget has not being impl5 that's why we re facing this now so look around and get your lazy stupid ass up and do something fuckface!!!!!!
Because your zombeism has risen to a point of no return.

3 Likes

Re: Nigeria Heading Into Recession, Says IMF by deleo16(m): 9:51am On Jul 20, 2016
PUSH1:
recession a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.

The people above should please go into farming at least to feed your family and the nation.
bro you are right Govt should come out with a good policy on this to attract people more on this https://www.nairaland.com/3126982/t.b-joshua-speaks-food-scarcity/4
Re: Nigeria Heading Into Recession, Says IMF by Checked86: 9:51am On Jul 20, 2016
If what I read about recession as an economist is true, I would say that we are in Depression already. Depression is the highest stage of recession. How to know the difference between recession and depression in economics: Recession is when your neighbour loses his job while depression occurs when you lose yours. Disposable money is becoming almost zero, purchasing power diminishes each day. A seller will buy something for 50 and sells at 65 naira and when he(the seller) goes back to buy that same stock, the price will be 70 naira and he has to sell it at 90 naira at least to minimise another unexpected shock. 'Kids in their parents pockets' have increased. The painful thing is that the govt. are not even attacking what is attacking us. The government is concerned about self-repute. Dodging every flies to remain clean when I can't see the difference between them and the pig.

3 Likes

Re: Nigeria Heading Into Recession, Says IMF by Nobody: 9:54am On Jul 20, 2016
For the CBN to come out from their propaganda closet to inform the National Assembly that the country is going through stagflation; Inflation and an inexplicable stagnation then its now clear. But what baffles me most is how a professional like Emefiele does not tell the truth. Inflation is understandable, but he knows the cause of the stagnation is consumers spending power has been stalled by corruption fight. People are afraid to spend their hard currencies, people are even afraid to lodge huge deposits because EFCC under Buhari's power-play is scanning the bank databases and inviting people to account for what you have in your bank ledger. You limit deposit into USD account to a mere $10,000 per day then you complain of stagnation. You limit withdrawal to 500,000 for personal account, then you complain of stagnation. You limit withdrawal from corporate accounts to 3m, and you complain of stagnation.

As a person, I have decided that it is not a good idea to keep my funds in Naira anymore, its losing value daily. Any sane businessman knows its best to either lodge your funds in USD or Pounds account alternatively, simply have a foreign account. This is why the Economy is stagnant.

Emefiele should tell the President the truth, that he as President should soft pedal on killing the Economy, banks are not giving loans, he is fighting the spenders and in the end it will be all man to himself.

1 Like

Re: Nigeria Heading Into Recession, Says IMF by achi4u(m): 9:55am On Jul 20, 2016
henrynick:






Dude you look really stupid .....not one atom of wisdom from all the shit you re saying......if you guys can't come up here and educate the so called zombies you say....den just put an end to your miserable life cause y'all come up here frustrated and bitter without nothing important to add nor common sense to share....nah to just say buhari na this buhati nah that......a lot of people has taken advantage of this situation and are making it bit by bit...you children of nowadays are just lazy as shit and waiting for one white color job......the government is the biggest spender and the budget has not being impl5 that's why we re facing this now so look around and get your lazy stupid ass up and do something fuckface!!!!!!
Re: Nigeria Heading Into Recession, Says IMF by 400billionman: 10:26am On Jul 20, 2016
Amanwulu1:
God have mercy! With N40K+ I'm finding it difficult to take care of my wife n 3 kids in d north. Infact I don't hv savings again. But u see hear some idiots applauding these useless n heartless ppl in govt today. Maybe they're in another nigeria.

Chai. N40k wey keke dey balance in a month.

God will provide shaa.
Re: Nigeria Heading Into Recession, Says IMF by stevecantrell: 10:27am On Jul 20, 2016
InvertedHammer:
/
Buhari is a bad joke forced on Nigerians. It seems that Nigerians keep selecting one bad leader after another. I don't want to dwell on GEJ's incompetence as articulated and indicted by his wife when she said, " if your pikin fail exam, you no go let am repeat the class? Vote Goodluck". What a campaign statement! Only in Nigeria.

The fact that elections in Nigeria throw up candidates like Buhari and GEJ while intellectual juggernauts are busy being armchair critics shows that Nigeria has a long way to go. In 2019, another dullard will show up, entice the masses with meaningless phrases, get voted in and the cycle continues.

If in doubt, go back in time. The same problems Fela sang about in the 70s are still here. In other words, no progress has been made. The future is bleak.

Well
\

Just as Gej wasnt allowed to repeat....APC will not be allowed to either.
3 yrs to go.
Im ok with that
Re: Nigeria Heading Into Recession, Says IMF by jollyjdaark: 10:29am On Jul 20, 2016
Buhari an his family just enjoying all the money alone...una never see anything oooo...
Re: Nigeria Heading Into Recession, Says IMF by chuksmad(m): 10:52am On Jul 20, 2016
The problem Nigeria is facing now is simple bad economic policies being introduced by APC led government. Our President is not also helping matters by the way he is causing division in this country by his utterances.
Maybe their must be something SE found in Buhari they rejected him during election and the whole country is suffering from it now. If the leadership of this country can muster the courage and make Igbo man President as advised by even Gowon, Nigeria may start experiencing new beginning. Because from all indication, some ethnic group in Nigeria feel aggrieved and it's affecting the whole Nation
Re: Nigeria Heading Into Recession, Says IMF by BluStreak(m): 11:13am On Jul 20, 2016
Hello IMF, why you dey romance the talk naaah? The Nigeria I know is already in recession except you are referring to a different Nigeria. If na that Nigeria we all dey call Naija, it is already in full blown recession.

But there is a solution; True Federalism. That medicine is the only remedy to the sickened Nigeria we have found ourselves in. True federalism will foster growth and industrial revolution and competition to attract investor. Look at Lagos and Ogun state as a good example of healthy competition among states.

Please this senate should give us true federalism and write their names in the marble slate of time as the ones that saved this country from the impending doom staring us all in the face.

I pray we don't get Zimbabwe-d and go from being the number 1 African economy to lipsrsealed lipsrsealed lipsrsealed lipsrsealed lips sealed.

1 Like

Re: Nigeria Heading Into Recession, Says IMF by cjrane: 11:23am On Jul 20, 2016
[size=15pt]This is the type of thing you see when people run the economy by tribalistic orders aimed at helping a target group of persons and not by sound economic principles.

They artificially manipulated the exchanged rate pegged at N198 to dollar and used the foreign reserve fund Dangote claiming he was engaged in vital industries. While other businesses either collapsed or left Nigeria from being prevented from sourcing foreign exchange.

When they finally realized their foreign reserve would be exhausted if they continued the silly tribalistic policy, they finally did the right thing. But it will take many years to recover from the damage they have already done to the economy.[/size]

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