baralatie:

Nigeria economy and Greece are two mutually and constantly different economies.
Greece submitted its economy to European control in exchange for loans(it did not work out in the long run because it no longer had money)
Nigeria is totally different.it is in control of its own money but it is fighting against the forces of external economic influence.this means NIGERIA HAS A CHOICE TO EITHER REMAIN NUETRAL OR TO WIN.
so it is either the govt starts expressing itself to win or it continues to be neutral but it won't hit recession.

tsdarkside:


as i always said...buhari is a warrior,not an economic...it will realy wonder me if he were good at both....nobody is good in everything....and the economic people,that should be helping him,are extremly corrupt....so what do you want buhari to do??....

9jii:

Thank God the evil man was kicked out

The whole world is going red.

Cjrane2:
[size=13pt]Chai, from Changii to recession ba?

Diaris God ooo!

Why can't the dulllard accept that he needs a smart economist to run the country?
Person that can't pass Junior high school wants to do complex economic calculations and projection?

Chai, the kwantry called Naigeria has had it.[/size]

in Korede Bello's voice,, Na GODWIN....

PassingShot:

But we already know that the economic team is almost here. It will come this month if not next week.

I repeat that we are in better position than we would have been had GEJ won. We may never know what we were saved by removing PDP.

Can anyone explain how we would have survived given that loans were taken just to pay government workers in April and May?

The situation was very bad. It is now bad but the future is promising.

PassingShot:
My candid submission:

1. Given the fact that Nigeria for the first time witnessed a real/true change of government (from one party to another), it is expected that economic activities will slow down within the first few months of the new govt as it takes time to formulate a new direction. This fact is more reinforced when one considers the type of economy the new government inherited. It was an economy that the PDP/FG borrowed to pay its workers in March and April of 2015. Had PDP won, they would have continued the borrowing as crude price slides further.

2. Most of the economic performance figures given in this analysis were for the first two quarters of 2015 which are Jan, Feb, March, April, May and June. Of those six months, Jonathan was in charge for five months. So, if any blame is due for apportioning, it is to GEJ's government.

3. There is surely brighter future for Nigeria given that the new government has shown capacity to block avenues for leakages and wastages as seen with past governments. It is such efforts that have increased our foreign reserves from $29 billion left by GEJ (he met $47.7bn) to above $32bn in just after two months of PMB. It's same efforts that have increased states' and federal allocations for two consecutive months in June and July.

4. As we restructure NNPC and look more in other directions such as mining, improved IGR and farming, our dependence on crude oil which has brought this glooming economic picture will reduce in the coming years; and Nigeria shall return to better outlook.

5. With reduced corrupt business environment, investors' confidence will improve and Nigerian economy will soon start to pick up especially with the incoming new cabinet ministers in this month.






You all represent proof of poor education. Waiting for your usual insults. I am immune to them.

eaglechild:

I don't understand.

Buhari has been nursing the ambition of leading Nigeria democratically for over a decade.
Now he gets the chance and he is acting like a deer caught in full beam headlights.

He should have had his economic team laid out way before he got into that seat, unless he is just there for quota sake.

dBard:


I don't want to get drawn into the pdp/GeJ vs PmB/apc argument.
Also, ur missing my point:
The economic experts are aware as we all are of the imminent ministerial appointments and Yet, they're still giving such gloomy forecasts.
That sincerely is worrisome regardless of our political affiliation

chuna1985:

Buhari is not formulating a new direction for nigeria, Rather he is trying to rule alone as a military head of states...

googlepikin:
That's what happen when you have too many Moslems with you in a country, people wey God don curse that they will never know peace.

PassingShot:
My candid submission:

1. Given the fact that Nigeria for the first time witnessed a real/true change of government (from one party to another), it is expected that economic activities will slow down within the first few months of the new govt as it takes time to formulate a new direction. This fact is more reinforced when one considers the type of economy the new government inherited. It was an economy that the PDP/FG borrowed to pay its workers in March and April of 2015. Had PDP won, they would have continued the borrowing as crude price slides further.

GenbIoodykiller:


[s]Nope you're an illiterate body language analyser

you represent a typical coconut head Buhari supporter

illiterate bastard body language analyser

you know nothing mr man

forming barcanista but i no fit you
go and sidan for gutter
mugu.

oya tell us more about Buhari's body language [/s]

ApexTitan:


Who had the expectation that the change in government would lead to marked decline - negative growth as the paper puts in - in the nation's economy? Is this a regular occurrence in other nations when a new party comes into power that the nation experiences near recession?

I get your position, you are rationalising this downturn as normal and expected so as not to make the new leadership lose face.

EINSTEINPG:
You are a shockingly nonintuitive slowpoke and a naive cantankerously-caterwauling tasteless amalgam of dross. In fact with this level of your narrow-mindedness you are nothing but a miserably blabbering peon and a miserable feeble-minded cesspool of putrid effluvium. Quote me and get more bashing!!!

ApexTitan:


Who had the expectation that the change in government would lead to marked decline - negative growth as the paper puts in - in the nation's economy? Is this a regular occurrence in other nations when a new party comes into power that the nation experiences near recession?

I get your position, you are rationalising this downturn as normal and expected so as not to make the new leadership lose face.

PassingShot:
If majority of the youths on the forum is a representation of Nigerian youths, the future better not belong to them.

The youths here are mostly semi literate, lazy and have demonstrated lack of capacity for engaging in critical reasoning. All they're after is to engage in socializing and getting rich quick.

Most of them don't even understand what a quarter of a year represents. How do you then engage such unintelligent people on politics and economy?

ElFenomeno1:


We have been in recession for months.... Think!!!!!
We are not going into it but have been wallowing in recession for months.... It has been downplayed so as not to cause panic or trigger an escalation!

ElFenomeno1:


We have been in recession for months.... Think!!!!!
We are not going into it but have been wallowing in recession for months.... It has been downplayed so as not to cause panic or trigger an escalation!

ElFenomeno1:


You are a very daft cun...t!
Sawdust filled headed individuals shouldn't be on this thread!

jaybee3:


Election results does have some sort of impact on the outlook of an economy especially when it’s a transitional handover rather than BAU.

The reason for that is obviously none other than the expected jitters associated with uncertainties over policy directions of the new incoming government.

That’s the same everywhere and it usually gets magnified if the economy is already suffering some sort of slowdown.

Have your ever heard the term “Market is looking for a reason to tank”?

davide470:
We have not been in Recession.

The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP).

That has not happened yet

ApexTitan:


Read the OP again including the title. Nigeria MAY slide into recession as economic indicators flash red.

Nigeria is not in recession.

ApexTitan:


No doubt with what you are saying. Elections generate certain levels of uncertainty in economic sectors. Thing is in our case this uncertainity has gained enough momentum to push the economy into near recession because the new leadership has done little or nothing since assuming power to quell the markets.

Citing the change of power as the reason for this downturn is no longer an excuse as there has been ample time to initiate and implement policies that generate positive growth.

dragon2:
Truth be told.The first 2 quaters(6 months) of the year has been all about politics. Many economists predicted the negative effects the presidential elections will have on our economy so this is not a surprise. Economics took a back burner.
On the current crises,low oil prices,and a bloated civil service from the oil boom period means that many governments on the Federal and state level are strapped for cash.
Restructuring is necessary. Increased productivity by Government staff,possible layoffs, increased government revenue (tax) without hurting private productivity and diversification of revenue is needed to drive the economy in this trying times. Re-introduction of road tolls as a source of revenue may have to be considered if a systemic solution to corruption in that area can be found.

In the long term, the solution to diversification of the Nation Forex income and systemic defeat of corruption lies in the principal pillar of socio-political restructuring of the country. In simple term, we need a true Federation to solve our problems.

EDIT.

Low oil prices are here to stay for a long while,so let us do what has to be done to secure our nation from a violent future. This is because our population is rising as our income is falling,as a result the share of the national cake per citizen is dwindling. Electricity is vitally important.

ApexTitan:


No doubt with what you are saying. Elections generate certain levels of uncertainty in economic sectors. Thing is in our case this uncertainity has gained enough momentum to push the economy into near recession because the new leadership has done little or nothing since assuming power to quell the markets.

Citing the change of power as the reason for this downturn is no longer an excuse as there has been ample time to initiate and implement policies that generate positive growth.