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Nairaland Forum / Nairaland / General / Business / We’re Addressing Recession With Wrong Tools —CBN (19119 Views)
Political Interference In CBN Operations Led To Recession – Moghalu / World Bank Says Nigeria Will Soon Recover From Economic Recession / We’re Addressing Recession With Wrong Tools —CBN (2) (3) (4)
We’re Addressing Recession With Wrong Tools —CBN by dre11(m): 2:37am On Dec 01, 2016 |
By Emma Ujah http://www.vanguardngr.com/2016/12/addressing-recession-wrong-tools-cbn/ 4 Likes 3 Shares
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Re: We’re Addressing Recession With Wrong Tools —CBN by HungerBAD: 2:49am On Dec 01, 2016 |
A problem acknowledged,is a problem half solved. Now that the Nigerian Government knows,that most of those piloting the affairs of the Country's financial matters,ordinarily should not there,then the needful should be done,so we can move on. 11 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by Sibrah: 2:57am On Dec 01, 2016 |
That's the simple and apt explanation most Nigerians may not like or understand. If we had sizable alternative export good(s) asides oil with which to earn the dollar we badly need to keep buying our N976bn/yr worth of import, no problem, instead we keep depending on the declining oil revenue(due to pipe vandals & global prices) to satisfy our forex need. Alot people think forex price changes due to policy or leader but I know it is 95% determined by people productiveness and spending pattern. That's the reason the decline started well before Buhari was sworn in. 16 Likes 3 Shares |
Re: We’re Addressing Recession With Wrong Tools —CBN by krasican(m): 3:00am On Dec 01, 2016 |
According to the director, the Monetary Policy Committee (MPC) had, since early last year, consistently warned that the nation will slip into recession if urgent steps are not taken but that the warnings were not heeded. How we got into recession Explaining how the nation got into recession, Tule said: “Oil prices are down. Not only are oil prices down, the Niger Delta Avengers have blown up oil producing facilities and export facilities, severally. “When they blew the Forcados , it took government six months to fix Forcados. That was a loading bay. And after fixing it, they went back and blew it again. So we have oil prices and production going down. The implication is that foreign exchange earnings are going down, but unfortunately, our import expenditure is not going down. It is still in the region of N976 billion, monthly.” He lamented Nigerians’ penchant for imported goods and an absence of export culture. He said sitting down and blaming the CBN for the falling value of the naira was futile, insisting: “If we want to regain our place, how did we get here? We must address that question. “The moment we began to prefer imported goods to our domestically produced goods, we laid the foundation and built the superstructure to where we are now. This is a conscious choice. Every country makes the choice where it wants to be. This is what we chose for ourselves as a country.” 7 Likes 2 Shares |
Re: We’re Addressing Recession With Wrong Tools —CBN by kingphilip(m): 3:15am On Dec 01, 2016 |
“Some came in as doctors into the macro-economic management and are giving the tools of medical doctors to advise on how to solve the problem of recession. Some came in as carpenters and they are using carpentry tools to advise on the problems of economic recession; some came in as engineers and they are using their tools to advise on how to address economic recession. And this is the major reason we're yet to make headway out of this recession The other point on reliance on imports too is another problem that needs be tackled.. I think the government isn't encouraging the purchase of locally made goods hence the citizens toing that path.. Lemme begin my research from here.. The rice the first family is eating is it locally manufactured or imported 7 Likes 2 Shares |
Re: We’re Addressing Recession With Wrong Tools —CBN by oduastates: 3:16am On Dec 01, 2016 |
Nigeria imports 1 used bra 2 used pants 3 Candles to perpetuate darkness 4 cutlass 5 Pot and pans And so on The country is a nation of unproductive sadist and psychopaths and sociopaths starting right from the top and down to the buttom . How many years of demoncrazy without development? The only reason the IT and music industry have been able to buck the trend of under development is because of the barrier to entry. All they needed was a laptop in the bedroom to create value that no politician can muscle on. New government yet nothing has changed They are simply waiting for oil prices to go up and then , Rinse and repeat 60 Likes 8 Shares |
Re: We’re Addressing Recession With Wrong Tools —CBN by Badguytinz(m): 3:29am On Dec 01, 2016 |
Ngwanu Nigeria clap for ya seff.... The change that you is now... Nigeria been clapping since 1960 3 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by modath(f): 3:45am On Dec 01, 2016 |
Na today una realise una wrong approach? No country that is 90% import dependent can ever be great!! She makes 100 naira & spends 90 of it servicing imports, when others are exporting and adding another 90 from export revenues... The day i knew this country was done for was when i learnt we import pineapple !! Not even exotic apple, pineapple !! E don be for this country.... As for the destroyers sabotaging critical assets, they can kontinu abeg... their people and cheerleaders are immune from the economic quagmire+ a... ish!! Dem nor dey beg pikin make e nor carry leprosy, as long as e nor mind to say bush alone..... @ oduastates , Brilliant analysis... & to think some idiotas are planning to snuff life out of the fledgling IT field by data tariff increment plan!! The thunder wey go faya some people.. 14 Likes 2 Shares |
Re: We’re Addressing Recession With Wrong Tools —CBN by Atiku2019: 3:55am On Dec 01, 2016 |
You are Adressing Recession with the Wrong President....... A man who can appoint 10media aides with no professional Economic Adviser Atiku2019 27 Likes 1 Share |
Re: We’re Addressing Recession With Wrong Tools —CBN by Atiku2019: 4:01am On Dec 01, 2016 |
modath: There's no need calling On thunder to strike anyone dearest Modath it's the CHANGE you all campaigned aggressively for I Only want to know when the online war between Tinubu e-warriors and APC e-warriors will kick off ...Any date yet? Good Morning 32 Likes 2 Shares
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Re: We’re Addressing Recession With Wrong Tools —CBN by Nobody: 4:15am On Dec 01, 2016 |
A summary of what the CBN Governor is indirectly saying. Choosing a man that blames everyone else for his own ineptitudes as the President of Nigeria was obviously a conscious choice by Nigerians. A man that assembles carpenters to profer solutions to the economic woes plaguing the country he presides over is also a hilarious choice and every country makes the choice where it wants to be. This is what majority of Nigerians chose for their selves as a country.” 14 Likes 1 Share |
Re: We’re Addressing Recession With Wrong Tools —CBN by truthspeaks: 4:43am On Dec 01, 2016 |
So wat shld we do now 1 Like |
Re: We’re Addressing Recession With Wrong Tools —CBN by limeta(f): 4:47am On Dec 01, 2016 |
“When they blew the Forcados , it took government six months to fix Forcados. That was a loading bay. And after fixing it, they went back and blew it again. So we have oil prices and production going down. The implication is that foreign exchange earnings are going down, but unfortunately, our import expenditure is not going down. Nature of the business. The further a society Drift from the truth The more it will hate Those that speak it. Avenger,s will lead you on the right path my son 3 Likes 1 Share |
Re: We’re Addressing Recession With Wrong Tools —CBN by modath(f): 5:01am On Dec 01, 2016 |
Atiku2019: Trouble sleep....If i give you what you want & been asking for now, you'll begin to mope & wail like a bush baby whose tattered mat was taken away.....Your moniker & you dare to smear your betters? Common now, so Laughable.. Also, stop trying to invite a maul, face front & continue your purposeless PR for your desperate serial loser, 6x & still counting... 2019 is still going the same way!!!!! A fool & his money are soon parted!! 3 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by saintmark88(m): 5:13am On Dec 01, 2016 |
After reading this people still blame buhari for our economic woes: Nigerians are pathetic 3 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by mykeljosef: 5:29am On Dec 01, 2016 |
so you are just realizing u used wrong tools.. talk of taking catapult to a gun fight 1 Like |
Re: We’re Addressing Recession With Wrong Tools —CBN by Atiku2019: 5:51am On Dec 01, 2016 |
modath: My Greetings to Tinubu. 7 Likes
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Re: We’re Addressing Recession With Wrong Tools —CBN by Funlordjnr: 6:06am On Dec 01, 2016 |
Badguytinz: So your point is? 1 Like |
Re: We’re Addressing Recession With Wrong Tools —CBN by Paperwhite(m): 6:21am On Dec 01, 2016 |
If the CBN is saying this shit as the country's highest financial decision making body or organization,then that still confirms that Nigeria is being led by grossly clueless entities.Why did I end up a Nigerian? 4 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by Paperwhite(m): 6:28am On Dec 01, 2016 |
HungerBAD:Yet your demigod have been seeking the presidency for 12 solid years. No wonder his ministers & other appointees are just as he is.What a country. 8 Likes 1 Share |
Re: We’re Addressing Recession With Wrong Tools —CBN by modath(f): 6:30am On Dec 01, 2016 |
Atiku2019: You are not slick, people more cunning than you can ever hope to be have a hard time inciting/provoking me let alone you small fry... Quit it, you are trying to reach for a ledge far above your head, get a foot stool or get someone to hoist you up... You nor reach! !! The greetings isn't for the 2014 APC presidential primary in Lagos i guess... Imagine "arranging" every every & still trail a distant 3rd!!!! Atiku I'm sure still relives the nightmare day in day out!! You lots keep making mouth on the interweb as usual but Atiku won't to either of Obasanjo or Tinubu, his nos dey dem hand & dem go "pless" am till... ... *mic drop* enough attention granted you, go find some tires to roll & maybe build sandcastle abeg... 3 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by Nobody: 6:35am On Dec 01, 2016 |
Solutions kawai. 3 Likes
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Re: We’re Addressing Recession With Wrong Tools —CBN by Nbote(m): 7:05am On Dec 01, 2016 |
Wait oooo, Wen exactly are these ppl going to start fixing things instead of reminding us how worse things are getting? Even some ppl in charge are quietly wailing but others no wan hear. We were promised an alternative to dependence on oil but still spending billions in forex we claim we don't have to look for more oil.. Nigerians kip importing becos Industries cannot thrive here.. It's always easy to blame ppl for importing but wat do u expect ppl to do wen d cost of producing same here is outrageous considering our power issues to b specific. Why do u think most Multinational companies are shifting base to even Ghana here? STOP COMPLAINING, FIND D RYT TOOLS AND START FIXING THINGS.. Nigerians know how bad things are but d constant bickering and complains is becoming frustrating.. 5 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by OZAOEKPE(f): 7:15am On Dec 01, 2016 |
modath:You kindq sound too proud 6 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by Afrok(m): 8:58am On Dec 01, 2016 |
... like say baba know wetin tools mean |
Re: We’re Addressing Recession With Wrong Tools —CBN by eleko1: 8:59am On Dec 01, 2016 |
sack that bald,dwarf useless Emefile now b4 he ruin Niagara beyond repair.See his tortoise eyes 1 Like |
Re: We’re Addressing Recession With Wrong Tools —CBN by MARKone(m): 9:00am On Dec 01, 2016 |
One of the wrong tools is surely one called Godwin Emefeli 4 Likes |
Re: We’re Addressing Recession With Wrong Tools —CBN by Exponental(m): 9:00am On Dec 01, 2016 |
Bunch of failures |
Re: We’re Addressing Recession With Wrong Tools —CBN by Icecomrade: 9:01am On Dec 01, 2016 |
Kemi 1 Like |
Re: We’re Addressing Recession With Wrong Tools —CBN by phkka1(m): 9:04am On Dec 01, 2016 |
Change in deed. Let us be moving. It shall be well. |
Re: We’re Addressing Recession With Wrong Tools —CBN by takenadoh: 9:04am On Dec 01, 2016 |
Emifele plus Kemi very wrong combo!!! 1 Like |
Re: We’re Addressing Recession With Wrong Tools —CBN by rawtouch: 9:04am On Dec 01, 2016 |
blind leading the blind 1 Like |
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