Codes151:
looted money or funds where funds released for sth! If u don't have cash u don't release it for projects!!!! Like I said, u still don't understand what recession means!

[b]Your reluctance to elucidate doesn't leave you in much glory.

I've made it clear a contraction in the economy over a period of time can be considered a recession. This is commonly over a period of 2 quarters or 6 months if you like.

The GDP has suffered because the whole of Nigeria's economic activities is predictated on corruption which well and truly oiled every facet.

I gave examples of how this works.

We are not a productive nation and we generally have a single product for export. This product isn't something we've manufactured though by simple human application we could have made a lot more than we presently do.

The Nigerian economy was seemingly buoyant when this singular product was sold at a premium in the international market. Rather than bank our earnings (savings) or reinvest it (improved infrastructure, diversification, or even improve on the value chain of that singular product - Refine it) we went on a spending binge as a drunken sailor might.

There was an economic aberration which was masked by looking only at certain indices such as volume of trade and raised standard of living -a mirage in itself.

There is a recession because oil is no longer sold at Gucci price.

It is sold at TK Maxx Price presently and to earth we've crashed.

There appears very little government can do at this juncture. This is so because productivity is in the hands of private enterprise.

If people in private continue in their old ways of demanding foreign made goods from Petrol to Phones there's only very little that can be done. Of course, the source of income becomes limited and so do the cravings.

If the average man continues with his habit of wanting foreign made belts rather than embark on local manufacture sorry would continue to be the case for the nation.

Government's responsibility is to help stimulate private enterprise by providing infrastructure, social justice, policies to encourage local activities.

A recession is often a result in the collapse or absence of local production.

Nigeria faces a recession.
[/b]

rusher14:


[b]Your reluctance to elucidate doesn't leave you in much glory.

I've made it clear a contraction in the economy over a period of time can be considered a recession. This is commonly over a period of 2 quarters or 6 months if you like.

The GDP has suffered because the whole of Nigeria's economic activities is predictated on corruption which well and truly oiled every facet.

I gave examples of how this works.

We are not a productive nation and we generally have a single product for export. This product isn't something we've manufactured though by simple human application we could have made a lot more than we presently do.

The Nigerian economy was seemingly buoyant when this singular product was sold at a premium in the international market. Rather than bank our earnings (savings) or reinvest it (improved infrastructure, diversification, or even improve on the value chain of that singular product - Refine it) we went on a spending binge as a drunken sailor might.

There was an economic aberration which was masked by looking only at certain indices such as volume of trade and raised standard of living -a mirage in itself.

There is a recession because oil is no longer sold at Gucci price.

It is sold at TK Maxx Price presently and to earth we've crashed.

There appears very little government can do at this juncture. This is so because productivity is in the hands of private enterprise.

If people in private continue in their old ways of demanding foreign made goods from Petrol to Phones there's only very little that can be done. Of course, the source of income becomes limited and so do the cravings.

If the average man continues with his habit of wanting foreign made belts rather than embark on local manufacture sorry would continue to be the case for the nation.

Government's responsibility is to help stimulate private enterprise by providing infrastructure, social justice, policies to encourage local activities.

A recession is often a result in the collapse or absence of local production.

Nigeria faces a recession.
[/b]

yes we face recession! Find out wetin e mean for a country to face such! Cuz u still not getting it

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