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Seven Of Buhari's Actions That Led Nigeria Into Recession - Politics (9) - Nairaland

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Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by cbravo2: 1:03pm On Apr 20, 2017
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by OkpekeBeauty: 3:48pm On Sep 16, 2017
its now more than one year
Feranchek:
Hopefully, well sing a different song in a year to come.... (HOPEFULLY ni mo so o0oo!!)
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by abdulwastecx(m): 2:07pm On Jan 28, 2019
ismart:
no mind them bro. BTW, I am one of yo fan at the property section bro. Under a different moniker, I was the one who praised ur approach to how u educated that lady who wante to build her house in lekki.

Thanks bro
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by budaatum: 4:14pm On Jan 28, 2019
If only Venezuela had learnt from Sai Bubu Venezuelans would not be starving today!


(Some of the things op listed are lies by the way, and he did quite a lot more that op fails to mention.)

Justcash:
1) Sudden Implementation of Treasury Single Account (TSA)- This policy threw the banking and financial sector into turmoil as huge sums were swept out of banks and dormantly stashed into a preferred safe.

2) Tightening of Foreign Exchange Transactions- This policy made it difficult to make foreign exchange, and threw thriving businesses into turmoil which led to massive sacking of workers and manufacturing slowdown.

3) Unguarded Utterances During Foreign Trips- The president made several unguarded utterances that gave the impression that Nigeria was headed for the rocks. This made foreign investors hesitant about coming into Nigeria, and encouraged those that were already in Nigeria to speculate and pull out funds.

4) Halting of Important Projects in the Niger Delta- Buhari moved to remove majority of the projects that were created to provide tangible benefits to Niger-Deltans. For example, the Maritime University and Pipeline protection projects. Though, some of these projects were condemned by Nigerians, they kept the Niger-Delta at peace and allowed for the maximization of the benefits from petroleum exports.

5) Buhari's Northern Developmental Focus in Nigeria- The developmental aim of the president is very much skewed towards Northern Nigeria than every other part. So, he is more like kick starting a new economic focus, while dumping existing economic strengths. For example, he is devoting billions of dollars to search for petroleum in the North when Nigeria does not have functional refineries to ensure adequate availability of petroleum products that are already being produced in the South.

6) Elimination of All the Policies Made by PDP- it is on record that even though PDP led governments were corrupt, they made some major strides in diversifying Nigeria's economy. For example, Agricultural export came to life under PDP. Buhari has focused on bedeviling and antagonizing every single policy made by the PDP. In the process, he has thrown out good policies and progress that were made in the past. He is almost starting afresh, and this has rebooted Nigeria and thrown us years backwards.

7) Preference for Violence over Dialogue- Buhari prefers to use military force to quell civil strife. This approach ignites more protests and civil disobedience. An economy cannot experience progress in violent conditions. Even Lagos and Ogun axis has experienced an open show of military bombardment, which scares a heck out of investors. The same is true about the production shut ins in the Niger Delta region. Some of these issues can be solved with dialogue and with police actions than full scale military assaults.

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