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Nairaland Forum / Nairaland / General / Politics / Seven Of Buhari's Actions That Led Nigeria Into Recession (62045 Views)
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Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by TheGoodJoe(m): 10:32am On Sep 04, 2016 |
Justcash: How can you maximise? There is little to no income when you calculate the last administration borrowing when Production and sales were high. They were depleting our reserves when sales were high. The question is why were we borrowing and depleting our reserves? That is a sign of recession. Now think of it when sales were high. The high sales masked the recession we were in. The Policies you criticise like TSA, banning products and the rest was to slow down the depletion of our reserves if not we would have been in hell by now. 1 Like |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by lanrex101: 10:33am On Sep 04, 2016 |
Abeymills:Yo ba furo re. . . Abeymills:Yo ba furo re. . . |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by eph12(m): 10:34am On Sep 04, 2016 |
Kay17:Just like selling off your old car and getting a new one immediately is good right? It's not as simple as that. No matter how good it can be other things need to be considered. |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by fxkay1: 10:35am On Sep 04, 2016 |
Unfortunately I agree with u.... Yes the GEJ government made many wasteful decisions..... But PMB should stop giving excuses of the past government and then fix the problem |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by eph12(m): 10:37am On Sep 04, 2016 |
TheGoodJoe:About banning products, what incentives is this government giving to those that are able to produce them here? Nothing? 1 Like |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by TheGoodJoe(m): 10:38am On Sep 04, 2016 |
Justcash: That is another mistake you guys make. You guys misunderstand the burden. Hon. Amaechi, Hon. Fashola and co. took the government to court because they were already depleting our ECA. The FG did not wait for a judgment (Obviously scared of the massive corruption exposure to come) and chose to share to the governors. The 52% of the Federal government, none of you talk of that. You only talk of the 48% of the governors share. The Federal Government spent what is left of the ECA after the governors. 52%. Things were really bad as at 2012. Not President Buhari's policies. 1 Like |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by FirstNg1: 10:38am On Sep 04, 2016 |
ba7man: QUESTION: And why did production rate reduce from 2.2 million bpd to 1.4 bpd? ANSWER: 1) Bhoohari's unguarded utterances -re 97%/5%. 2) His removal of capital projects from the Niger Delta 3) Appointments skewed in favour of the North - who already get up to 60-70% share of all of Nigeria's earnings; while contributing less than 5%, thereby shoving the fact that the North has taken Southerners captive in their faces! 4) Extra-judicial killings of peaceful protesters in the S/E 5) Using threats and intimidation as an instrument of state. 6) Acting and speaking like a conqueror of NON Hausa/Fulani, instead of the elected president of Nigeria 7) Acting like a medieval mornach instead of a mordern president and a paid enployee of the Nigerian people! HIS LACK OF CAPACITY TO FORSEE THE NATURAL CONSEQUENCE OF HIS WORDS AN ACTIONS 9)HIS LACK OF CAPACITY TO KNOW OR UNDERSTAND MORDERN GOVERNANCE. 10) ETC, ETC, ETC |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by plendil: 10:40am On Sep 04, 2016 |
Justcash: S/Arabia may not be in a recession, but things are far from rosy for them. Some reports even quote the oil sector as being in 'technical recession'. http://www.ft.com/cms/s/3/cdb02eee-4915-11e6-8d68-72e9211e86ab.html#axzz4JHEi1sZO On TSA: Seriously?? How exactly did the sudden implementation lead to recession? Just how many banks are complaining of lack of cash? You claim "The drop in oil prices did not throw Nigeria into a recession". In all honestly and with due respect, I take it your being mischievous here. Just for the records, though i still think PMB was a far better choice than his predecessor, the former has clearly made a lot of wrong moves, which I've roundly condemned him for. However, to lay all the blame of the current situation at his feet is not fair. 1 Like |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Yyeske(m): 10:41am On Sep 04, 2016 |
TheGoodJoe:Allow those wailers to wail, even Soludo complained about the state of the economy early last year but the wailers called him all sorts of names because he was exposing NOI and their hero GEJ for mismanagement. They encourage Niger Delta Avengers to bomb oil and gas installations but will be the first to blame the government of poor electricity supply, I'm still surprised none of them wailers had blamed PMB for the fall in oil price. 2 Likes |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by TheGoodJoe(m): 10:42am On Sep 04, 2016 |
eph12: It takes capital to fix things. For now, we have no capital. Before any step is taking, we must calculate the resulting effects. We are about to borrow more and these banned items will get tackled. I just want us to know how we got here. This will let us know where to fix. Production of the banned Items must be a priority. This will create Small businesses that will create employment. Power must be tackled. These businesses can not grow without power. Cost of governance must reduce. These problems were there before this government but this government must start the road back to a health economy. 1 Like |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by TheGoodJoe(m): 10:45am On Sep 04, 2016 |
plendil: That Technical Recession Term is brilliant. Nice and educative post. |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by plendil: 10:45am On Sep 04, 2016 |
eph12: So he should have allowed the importation of toothpick, vegetable oil, chicken, etc to totally deplete our dollar reserves? Remove sentiments and critically check the list, we are more than capable of producing more 90% of the items locally. 2 Likes 1 Share |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by nady94: 10:46am On Sep 04, 2016 |
Abeymills:Calm bro he isn't good yes but remember we all (majority) voted for him so therefore I believe we should all brace ourselves and pray for him to make better decisions in the future. |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Billygee2u: 10:49am On Sep 04, 2016 |
Justcash: |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by ikwubaba: 10:51am On Sep 04, 2016 |
Justcash: It would maybe not be 60% if ND was peaceful. But how do you ensure that. Pay the NDA guys and also pay the other emerging group? for pipeline contacts which they still bunker anyway? You are not seeing the long term effect of the message that criminality pays. Have you seen the full list of NDA demands? 1 Like |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by TheGoodJoe(m): 10:52am On Sep 04, 2016 |
It is time we stop seeing this government as President Buhari's government. The elections ended about two years ago. When the elections come, we can make partisan statements and judgment. For now, all of us in this country are in this mess. Even the rich ones are not insulated from the resulting crimes from a bad economy. Yahoo Boys are not sleeping. Armed robberies and kidnapping increased. We need to contribute to the growth of this government, one way or the other. Sabotaging and supporting sabotage will cause calamity for everyone. If President Buhari fails, we fail. If he wins, we win. 3 Likes |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by freshdude99(m): 10:53am On Sep 04, 2016 |
nwanna89:Bros eh, God bless u so much for this observation 1 Like |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Kay17: 10:53am On Sep 04, 2016 |
eph12: Besides it was illegal in the first place for government ministries and agencies to lodge deposits in a bank. So you can't justify a criminal act by the excuse of necessity 2 Likes |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Billygee2u: 10:55am On Sep 04, 2016 |
naijaking1: |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by nady94: 10:55am On Sep 04, 2016 |
ba7man:He promised us magic remember saying every unemployed youth shall get #5000 monthly ( though he denied it lately ) and said a dollar will be equal to a naira right ? But I think it's evident now that he never had a plan for Nigeria but empty promises. The dependency on oil was obviously going to be Nigeria's downfall said so many experts in time past. Nigerians had been crying for diversification of the economy which we all thought APC will bring but li and behold this is where we are. I still believe in Nigeria though becos I believe in every challenge comes an infinite opportunities to make exploit. God bless Nigeria and God bless us all. |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Mekzyzeus(m): 10:55am On Sep 04, 2016 |
ikarm17: And the 95% still gnashes their teeth and wail in sorrow and regrets, while still refuting the glaring truth! |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by 007Gbenga: 10:58am On Sep 04, 2016 |
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Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by FirstNg1: 10:59am On Sep 04, 2016 |
ba7man: In addition, crude oil was already selling at $45 per barrel or thereabouts - with every indication of the price fallingfurther, during the electioneering campaign for the 2015 elections. So AaPC and Bhoohari already knew or aught to have known that; and not handle the governance of Nigeria the way they have done so far! The reality that Nigerians have to face is that we have a government who campaigned and won the 2015 elections base entirely,100% on lies, propaganda, image-laundering, pulling others down and an unbridled greed for power - purely for their own selfish interests. And they still can't stop lying! Until and unless they stop the lies and propaganda, they cannot achieve anything - because light and darkness do not mix; pogress and deception cannot also mix! |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by excelAGR42: 11:01am On Sep 04, 2016 |
@OP thank you very much for this insightful write up. Many people don't know the power behind number 3 that you succinctly pointed out. The Bible says that "the power of life and death is in the tongue" therefore an unguarded statement can cause more harmful ripple effect than any other thing in life. I remember the great effort of the late Dora Akunyili at remodeling and selling the Nigerian brand both home and away. She must be rolling in her grave to hear the president brand hard working Nigerians as "fantastically corrupt". As a result of that even Kenyans and other African nations no no longer respect Nigerians because of the bad image that we have been portrayed by our own government. |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by berrystunn(m): 11:02am On Sep 04, 2016 |
ba7man: With 28/36 per barrel, buhari policy did not help matters 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.. Making it a war zone. Can you explain that.. 1 Like |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by qleap2all(m): 11:06am On Sep 04, 2016 |
Justcash:Oh you forgot to mention that stop the subsidy fraud and also allows Naira devaluation after much pressure from Nigerians despite his earlier stance |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Nobody: 11:06am On Sep 04, 2016 |
ikarm17: Who gave you phone |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Djpaparazy(m): 11:09am On Sep 04, 2016 |
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Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Rapmoney(m): 11:11am On Sep 04, 2016 |
progress69:How do one eat "is" cake? Learn how to spell correctly before you engage yourself in issues you know absolutely NOTHING about!!! |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Pylony(m): 11:12am On Sep 04, 2016 |
Wow! Its the same Nigerians that called former President Good Luck clueless are the same people crying foul over what they voted for in 2015. |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Righthandson(m): 11:13am On Sep 04, 2016 |
GGod help our leaders |
Re: Seven Of Buhari's Actions That Led Nigeria Into Recession by Miles300: 11:14am On Sep 04, 2016 |
Justcash:how can he attract foreign investment with fx restriction for Christ sakes , who will want to come and invest here when he can't have acess to fx |
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