President Muhammadu Buhari, on assumption of office made an already bad situation even worse by delving into "dirty" politics rather than focus on the immediate task of restoring the confidence of investors to boost the country's economic potentials. It took the president 6 months to form an economic team to pioneer the country's ailing economy. When the team was finally formed, it was a huge disappointment to both international observers and national enthusiasts. People could feel this sense of Oligarchy and Gerontocracy in the president's cabinet, and this questioned the credibility and competence of the government's new management team in the 21st century ruled by Information technology. Furthermore, the credibility of the presidency to fight corruption was in question.

President Buhari's government focused its attention on politics rather than governance. The national Assembly was battling with leadership crisis rather than making laws. The president who was expected to push for economic reforms himself became directly involved with the politics of the house of assembly.

The president also got involved in various controversies which questioned his ability to stabilize the polity, a major consideration for investors. One of such controversies was his seemingly divisive comments about compensating constituencies which gave him more votes as opposed to the general expectation of running an inclusive government.

The president's "stiff" monetary policies in addition to fallen oil prices also hugely contributed to the fastest rate of devaluation of the country's currency and subsequent inflation on prices of local commodities witnessed since the 90s.

This is how President Buhari and his his team drove the Nigerian economy into Recession.

- SocialMediaMan

cc: lalasticlala, seun, mynd44

And who doesn't know?

By refusing to appoint minister until six months, tagging Nigerians as fantastically corrupt and criminals and other deplorable utterances, looting the 2.2trn domestic loan with his cronies, rashly implementing the tsa , appointing incapacitated and clueless duffers like him as ministers and head of parastatals, formulating economic policies that inimical to the economy, spending Nigerian's pecuniary resources on fruitless tourism with his family, and so on.

blueto:
By refusing to appoint minister until six months, tagging Nigerians as fantastically corrupt and criminals and other deplorable utterances, looting the 2.2trn domestic loan with his cronies, rashly implementing the tsa , appointing incapacitated and clueless duffers like him as ministers and head of parastatals, formulating economic policies that inimical to the economy, spending Nigerian's pecuniary resources on fruitless tourism with his family, and so on.

Very important point to mention as well. By harshly implementing this, he sent a lot of money idle instead of revolving within the economy. He could've implemented the TSA funds momentarily within the commercial banks, then gradually put them in the CBN when the effects would not be immediately felt by the banks

This is what to a bunch of AMATEURS sent the economy into recession. I laugh in kenery language. People are just stupid in this country.
With the oil price crash, Nigeria was automatically in recession because of the foreign exchange crunch. Almost all businesses in Nigeria use imported raw materials and spare parts. We also import too much fuel thanks to Jonathan. Also the size of government is large and finally , militants bombed crude oil lines.

The truth is the truth and it sets you free.

If you don't admit that lack of savings and investments by past governments, corruption, over importation and the bombing of pipelines are the causes of recession then you are a coward and you might feel the worst effects of the recession than others because you need to accept the truth of a problem to solve it.

It is very very childish and cowardly to say someone caused recession by doing TSA or fighting cortuption. It simply means we did not have an economy in the First pace

Adminisher:
This is what to a bunch of AMATEURS sent the economy into recession. I laugh in kenery language. People are just stupid in this country.
With the oil price crash, Nigeria was automatically in recession because of the foreign exchange crunch. Almost all businesses in Nigeria use imported raw materials and spare parts. We also import too much fuel thanks to Jonathan. Also the size of government is large and finally , militants bombed crude oil lines.

The truth is the truth and it sets you free.

If you don't admit that lack of savings and investments by past governments, corruption, over importation and the bombing of pipelines are the causes of recession then you are a coward and you might feel the worst effects of the recession than others because you need to accept the truth of a problem to solve it.

It is very very childish and cowardly to say someone caused recession by doing TSA or fighting cortuption. It simply means we did not have an economy in the First pace

You sir are clearly the amateur here and a very amateurish amateur at that

Adminisher:
This is what to a bunch of AMATEURS sent the economy into recession. I laugh in kenery language. People are just stupid in this country.
With the oil price crash, Nigeria was automatically in recession because of the foreign exchange crunch. Almost all businesses in Nigeria use imported raw materials and spare parts. We also import too much fuel thanks to Jonathan. Also the size of government is large and finally , militants bombed crude oil lines.

The truth is the truth and it sets you free.

If you don't admit that lack of savings and investments by past governments, corruption, over importation and the bombing of pipelines are the causes of recession then you are a coward and you might feel the worst effects of the recession than others because you need to accept the truth of a problem to solve it.

It is very very childish and cowardly to say someone caused recession by doing TSA or fighting cortuption. It simply means we did not have an economy in the First pace

Pure trash from someone either born yesterday or just isn't honest enough to call a spade a spade.

1. Oil prices were in the teens during most of OBJ's tenure. He still managed to bring common sense in the Administration of the economy.
2. Corruption was rife long before, during and after OBJ's and GEJ's tenure.
3. Since oil became the mainstay of our economy in the 70s, we have always been import dependent, and dependent on the vageries of the foreign exchange markets. Therefore, foreign exchange scarcity is not a new thing in Nigeria.
4. With $30b in foreign exchange savings, only very dishonest people would claim a lack of savings . After all, how much foreign exchange savings did the PDP government inherit in 1999? And yet, they were still able to restructure the economy to an extent for economic growth.

It only a childish person who doesn't understand economics that would try to exonerate this administration from the economic mess we are in.

The body language of the present government, especially Buhari, has had a great negative influence on the investment climate and the free flow of funds into the economy.
Many Months ago , I warned that no government launches a war against CAPITAL without suffering deep, prolonged catastrophic collapse.
This is exactly what Buhari, through his utterances, body language and actions of his proxies have been, perhaps inadvertently, doing.
They just don't seem to get it.

[quote author=socialmediaman post=49686400]

President Muhammadu Buhari, on assumption of office made an already bad situation even worse by delving into "dirty" politics rather than focus on the immediate task of restoring the confidence of investors to boost the country's economic potentials. It took the president 6 months to form an economic team to pioneer the country's ailing economy. When the team was finally formed, it was a huge disappointment to both international observers and national enthusiasts. People could feel this sense of Oligarchy and Gerontocracy in the president's cabinet, and this questioned the credibility and competence of the government's new management team in the 21st century ruled by Information technology. Furthermore, the credibility of the presidency to fight corruption was in question.

Can only come from a child, who are in your economic team to know what is missing from Buhari's cabinet?

President Buhari's government focused its attention on politics rather than governance. The national Assembly was battling with leadership crisis rather than making laws. The president who was expected to push for economic reforms himself became directly involved with the politics of the house of assembly.

Which Economic reform that eludes all your OPEC and non OPEC competitors? go and grab a television.

The president also got involved in various controversies which questioned his ability to stabilize the polity, a major consideration for investors. One of such controversies was his seemingly divisive comments about compensating constituencies which gave him more votes as opposed to the general expectation of running an inclusive government.

You sincerely think this has anything to do with the economy? your thought process is highly questionable.

The president's "stiff" monetary policies in addition to fallen oil prices also hugely contributed to the fastest rate of devaluation of the country's currency and subsequent inflation on prices of local commodities witnessed since the 90s.

This is how President Buhari and his his team drove the Nigerian economy into Recession.

- SocialMediaMan

When you are a product of free education, waste 10 out of your 15 academic years on strike, you come out empty, pick up a cheap phone and delve into national politics as if you have the requisite grey matter to process anything.
The only thing Buhari did wrong from your posts was allowing deformed brains like yours to have internet access or perhaps limit your post to your facebook wall, that way, we can put a face to this grand id!ot of the republic.

The CBN was running out of forex hence it adopted measures to conserve forex, only a dolt will use the phrase "stiff monetary policies". you can not be flexible on what you don't have. Now go and take the kids to school bloody houseboy

[quote author=plaetton post=49690326]

Pure trash from someone either born yesterday or just isn't honest enough to call a spade a spade.

Let's put your wisdom to a test

1. Oil prices were in the teens during most of OBJ's tenure. He still managed to bring common sense in the Administration of the economy.

What was the size of Obasanjo's economy and the demand for forex at the time compared to now? For example, if we are only 10 companies in a population of 100m people in 1999, in 2016, you are 180m with 25 companies, what do you think will happen to forex demand in 2016?

2. Corruption was rife long before, during and after OBJ's and GEJ's tenure.

There was corruption under Obasanjo but he made sure that some people while stealing knew it was corruption unlike the Otuoke nuisance.
While Obasanjo was stealing, he never stole from the foreign reserve, he never stole from the Excess crude revenue accounts. the sum of both accounts after he left was a whooping $46b, not forgetting that we have paid off over $12b & $16b respectively on both Paris club debts and the NIPP projects.
Despite how relatively small our economy was then, how dare you blame Buhari who met $22b in a $500b economy, with huge debts and sundry liabilities?

3. Since oil became the mainstay of our economy in the 70s, we have always been import dependent, and dependent on the vageries of the foreign exchange markets. Therefore, foreign exchange scarcity is not a new thing in Nigeria.

It is not true, in the 70's you have no idea what a 1979 Rolls Royce looked like, today a 2016 Bentley is on the streets of Abuja, do you have any idea what that lifestyle does to our economy?
Let me remind you that the 504/505 you bought brand new in 1999 was 1984 model, can you dare see a 1998 Peugeot on the streets of Lagos in 1999? The latest Gulf stream-500 private jet is on the MMA tarmac, not one, not two, did you ever see a private jet with your eyes, while growing up in the 70's? this is the life we chose, this is the price we must pay, Buhari is not your problem.

4. With $30b in foreign exchange savings, only very dishonest people would claim a lack of savings . After all, how much foreign exchange savings did the PDP government inherit in 1999? And yet, they were still able to restructure the economy to an extent for economic growth.

It only a childish person who doesn't understand economics that would try to exonerate this administration from the economic mess we are in.

I will like a proof of that $30b, I could still remember vividly when Iweala made a lot of noise about our dwindling foreign reserve.

The body language of the present government, especially Buhari, has had a great negative influence on the investment climate and the free flow of funds into the economy.
Many Months ago , I warned that no government launches a war against CAPITAL without suffering deep, prolonged catastrophic collapse.
This is exactly what Buhari, through his utterances, body language and actions of his proxies have been, perhaps inadvertently, doing.
They just don't seem to get it.

Young man, if the likes of Maduro, Panieta and Rouhani could still attract foreign investors, then Buhari is a saint if the ground is fertile for investors, foreign investors are more concerned about a government default than all the risks most of our Vodoo economics have outlined, the root cause of our near default is huge debt burden and the Niger delta bombing. Even a child knows that.

plaetton:


Pure trash from someone either born yesterday or just isn't honest enough to call a spade a spade.

1. Oil prices were in the teens during most of OBJ's tenure. He still managed to bring common sense in the Administration of the economy.
2. Corruption was rife long before, during and after OBJ's and GEJ's tenure.
3. Since oil became the mainstay of our economy in the 70s, we have always been import dependent, and dependent on the vageries of the foreign exchange markets. Therefore, foreign exchange scarcity is not a new thing in Nigeria.
4. With $30b in foreign exchange savings, only very dishonest people would claim a lack of savings . After all, how much foreign exchange savings did the PDP government inherit in 1999? And yet, they were still able to restructure the economy to an extent for economic growth.

It only a childish person who doesn't understand economics that would try to exonerate this administration from the economic mess we are in.

The body language of the present government, especially Buhari, has had a great negative influence on the investment climate and the free flow of funds into the economy.
Many Months ago , I warned that no government launches a war against CAPITAL without suffering deep, prolonged catastrophic collapse.
This is exactly what Buhari, through his utterances, body language and actions of his proxies have been, perhaps inadvertently, doing.
They just don't seem to get it.

Again and again I will say it. Nigeria was DOWN coming UP during OBJ regime. We had economic darkness with Abacha and we were emerging from it. The graph was shooting up.

With Jonathan , Nigeria was UP and he crashed it DOWN rapidly because of lack of ability to control people. It is a very simple failing - lack of ability to control people , systems and processes. He crashed it down in spite of record oil prices and noise made about economic growth. Also oil prices were very high and also crashed rapidly. Things would have bern different if it was a gradual decline then you could plan. However ours was sudden

Please look up the word volatility in economics

Please don't compare OBJ and Buhari in terms of what they inherited. It is the graph TREND of the economy and oil prices not the STATIC VALUES or PRICES

[quote author=jpphilips post=49691804][/quote]
Omg!!
I can't believe what I reading.

Simple ignorance is excusable, but complex ignorance is the very worst.

You sir, just ran naked in the marketplace.

Let me try to address your incoherent ramblings one by one.

1. So agree that the Nigerian economy of 2015 is way bigger than the Nigerian economy of 1999?
Hhhmm! Interesting observation, Mr Einstein.
But pray, who Shepherded such fantastic growth from 1999 to 2015 ?
The Toothfairy, the invisible pink UNICORN or Leprechauns ?
And secondly, the Nigerian population was not 100m in 1999.
Now, to say that OBJ did better because the economy was smaller and the population was smaller is right of kindergarten. In fact, any kindergarten child holding such an opinion would be a candidate for special education classes.
I feel a tad ashamed to be addressing such ignorance here.

2. So , In essence , you're saying that OBJ'stenure corruption was the good corruption, and GEJ's corruption was the bad corruption?
Another shocker taken right out of schizophrenics anonymous.
I am speechless.

3. More incoherent babble. Primary what are you starting this September ?

I give up.

when you have a mad man at the helm of affairs....

Adminisher:
This is what to a bunch of AMATEURS sent the economy into recession. I laugh in kenery language. People are just stupid in this country.
With the oil price crash, Nigeria was automatically in recession because of the foreign exchange crunch. Almost all businesses in Nigeria use imported raw materials and spare parts. We also import too much fuel thanks to Jonathan. Also the size of government is large and finally , militants bombed crude oil lines.

The truth is the truth and it sets you free.

If you don't admit that lack of savings and investments by past governments, corruption, over importation and the bombing of pipelines are the causes of recession then you are a coward and you might feel the worst effects of the recession than others because you need to accept the truth of a problem to solve it.

It is very very childish and cowardly to say someone caused recession by doing TSA or fighting cortuption. It simply means we did not have an economy in the First pace

Nigeria was not in recession when PMB took over.

Adminisher:


Again and again I will say it. Nigeria was DOWN coming UP during OBJ regime. We had economic darkness with Abacha and we were emerging from it. The graph was shooting up.

With Jonathan , Nigeria was UP and he crashed it DOWN rapidly because of lack of ability to control people. It is a very simple failing - lack of ability to control people , systems and processes. He crashed it down in spite of record oil prices and noise made about economic growth. Also oil prices were very high and also crashed rapidly. Things would have bern different if it was a gradual decline then you could plan. However ours was sudden

Please look up the word volatility in economics

Please don't compare OBJ and Buhari in terms of what they inherited. It is the graph TREND of the economy and oil prices not the STATIC VALUES or PRICES

I just can't believe what I read here.

What do they teach you guys in school.

So, your saying that shortly before OBJ took over in 1999 , Nigeria was on a positive economic trajectory ?
What the fxx are you smoking ?
Pls can I have some ?

That Jonathan left a bustling economy with all economic indices up and trending up is a non disputable FACT.

OBJ inherited a house that had fallen. He raised it up.
What has Buhari raised , besides sulking because he didn't inherit a high oil price?
BTW, didn't Buhari and his APC claim, during their campaign, that they would stabilize Oil prices ?
Wasn't that an acknowledgement that they were fully aware if the challenges that GEJ faced during the last quarter of his administration ?

Stop defending these morons.

plaetton:

Omg!!
I can't believe what I reading.

Simple ignorance is excusable, but complex ignorance is the very worst.

You sir, just ran naked in the marketplace.

Let me try to address your incoherent ramblings one by one.

1. So agree that the Nigerian economy of 2015 is way bigger than the Nigerian economy of 1999?
Hhhmm! Interesting observation, Mr Einstein.
But pray, who Shepherded such fantastic growth from 1999 to 2015 ?
The Toothfairy, the invisible pink UNICORN or Leprechauns ?
And secondly, the Nigerian population was not 100m in 1999.
Now, to say that OBJ did better because the economy was smaller and the population was smaller is right of kindergarten. In fact, any kindergarten child holding such an opinion would be a candidate for special education classes.
I feel a tad ashamed to be addressing such ignorance here.

2. So , In essence , you're saying that OBJ'stenure corruption was the good corruption, and GEJ's corruption was the bad corruption?
Another shocker taken right out of schizophrenics anonymous.
I am speechless.

3. More incoherent babble. Primary what are you starting this September ?

I give up.

You quote a post and refused to type, is everything ok with your keyboard?

.

Adminisher:


Again and again I will say it. Nigeria was DOWN coming UP during OBJ regime. We had economic darkness with Abacha and we were emerging from it. The graph was shooting up.

With Jonathan , Nigeria was UP and he crashed it DOWN rapidly because of lack of ability to control people. It is a very simple failing - lack of ability to control people , systems and processes. He crashed it down in spite of record oil prices and noise made about economic growth. Also oil prices were very high and also crashed rapidly. Things would have bern different if it was a gradual decline then you could plan. However ours was sudden

Please look up the word volatility in economics

Please don't compare OBJ and Buhari in terms of what they inherited. It is the graph TREND of the economy and oil prices not the STATIC VALUES or PRICES

mental

socialmediaman:
President Muhammadu Buhari, on assumption of office made an already bad situation even worse by delving into "dirty" politics rather than focus on the immediate task of restoring the confidence of investors to boost the country's economic potentials. It took the president 6 months to form an economic team to pioneer the country's ailing economy. When the team was finally formed, it was a huge disappointment to both international observers and national enthusiasts. People could feel this sense of Oligarchy and Gerontocracy in the president's cabinet, and this questioned the credibility and competence of the government's new management team in the 21st century ruled by Information technology. Furthermore, the credibility of the presidency to fight corruption was in question.

President Buhari's government focused its attention on politics rather than governance. The national Assembly was battling with leadership crisis rather than making laws. The president who was expected to push for economic reforms himself became directly involved with the politics of the house of assembly.

The president also got involved in various controversies which questioned his ability to stabilize the polity, a major consideration for investors. One of such controversies was his seemingly divisive comments about compensating constituencies which gave him more votes as opposed to the general expectation of running an inclusive government.

The president's "stiff" monetary policies in addition to fallen oil prices also hugely contributed to the fastest rate of devaluation of the country's currency and subsequent inflation on prices of local commodities witnessed since the 90s.

This is how President Buhari and his his team drove the Nigerian economy into Recession.

- SocialMediaMan

Wonder shall never end
Bros no b u open this thread before 2015 election
https://www.nairaland.com/2196633/jonathans-youwin-joke-nigerians-take