ElFenomeno1:


Just because it is a technical indicator doesn't necessarily mean it is the only measure that should be taken as the gospel

So two quarters is from January - June

It is safe to say we are in recession..... June and it is bloody September already!

Another quarter has passed by!

LouisVanGaal:
...Another wailer on the loose...it's because we had 'voodoo economic' team during the last admin, that was why you were blind-folded from reality...
When they lied that our GDP was over 65% and erudites such soludo and utomi were raising alarm; you didnt come up with these piece...
YES the economy is sick, and a large chunk of the problem was contributed by the PDP and their wastefulness in governance...ho ha!!!!
Buhari yet to appoint ministers and we are still managing and seeing some benefits of change; how about when the ministers arrive this month nko??

jaybee3:


well you can't technically confirm a recession without having 2 consecutive quarters of negative growth.

What majority are feeling is a slowdown in economy and it's largely due to falling oil prices.

Canada is already in recession because of falling oil prices
China has slowed dramatically and they can’t keep inflating their growth figures as the real economy is now biting real hard. There is probably going to be a mighty bubble in the property sector in china which will obviously spell doom for the commodity sector worldwide.

The other major economies are barely pushing the doom forward by continuously pumping liquidity into the system.

Funny thing is, this is actually a cyclical ish as market dynamics always come into reckoning ever so often so it can correct itself before its possible upward movement.

The FBN Purchasing Managers Index (PMI) shrank in August to 49.2 from an earlier low of 50.6, indicating contraction.
The manufacturing sector, which accounts for 10 percent of GDP, is already in recession as it contracted for a second consecutive quarter, by 3.8 percent year on year in Q2 2015, compared to growth of 14 percent a year earlier.
The NSE – all share index, a broad benchmark of Nigerian stocks (another leading indicator), has returned -14.85 percent year to date, while broad money supply (M2) declined by 0.61 percent in June 2015, below the level at the end of December 2014.
Oil, from which the Nigerian government earns 70 percent of budget revenues, tumbled to a six-and-a-half low of $42per barrel (Pb) last month, 33.9 percent lower than the Q2 average of $63.55pb

The absence of a cabinet and direction for the economy under the new President Muhammadu Buhari may be a factor in the negative indicators.

ElFenomeno1:


Jaybee read my response to ApexTitan.
While a combination of the above is inclusive of the causative factors for the current quagmire we are enmeshed in, one cant rule out we are already feeling the pangs of recession!

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?

atlwireles:


72 hours after the election result, the market signaled a solid approval of the change. The current malaise and dejection is a realisation, that this administration has no direction. Both monetary and fiscally, only pretenders will close their eyes to this fact.

otr1:


Government spending will increase the growth rate -



It has very little or nothing to do with the absense of a cabinet.

989900:


You've said zilch m0r0n.

While I firmly would opine that the president gets a grip on the sorry state of the economy in double time, in lieu of excuses ( though sincerely I know he's done a good job so far), but we can only keep him on his toes to get the best out of him with sensible criticism; not some clownish comments.

PassingShot:
am a dunce barcanista is my god

baralatie:


on the contrary govt actions of not forming a cabinet is a heavy pointer to the economic growth,even from your own comments!

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.

otr1:

Have it in mind that the slow-down in growth has been going on since last year- when we had ministers. It won't stop just because we now have new President, though I think we need ministers now.

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.

baralatie:

the slow down was because of the election and it was uncertain if Nigeria could successfully hold a peaceful election.
immediately after the election and the swearing in of the president signalling a fiery time successful transition.the stock market responded positive in its fisrt week.
it only started going slow when the administration did not "sell" itself to investors and remained without a cabinet. it gave investors a second thought that this adminisration was interested in continuing a closed-loop govt economy.

WhiteTechnology:
Buhari is this the Change you preached .

otr1:

The continued in growth rate after the election up till now is majorly an economic issue.
Investors won't stop investing if profit is guaranteed

BiafranNigerian:
Mr. Body Language, your body odour is sending our Economy to recession. Zenith Bank has fired 1,200 employees already. NNPC fired 3,000.

A man who did not pass WAEC can not be expected to understand Macro Economic Indices.

neocortex:


Change that your moniker , only smart people are allowed to use that name.
so in your warped mind, the IMF and the world bank are all voodoo eceomists
who are on jonathan's payroll.

If you continue like this you may end up a complete zombie who can't think for himself.

GenbIoodykiller:


what's this bastard saying?

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?

sdindan:
Nigeria indomie generation will start blaming Jonathan
And leave their ministerless presidiot Buhari

baralatie:

but if investors "sense" a lock down with no means of reclaiming their funds or seeking redress because the govt is looking the other way.investors will seat on autopilot till the govt makes a clear move and formally constitute itself.
and some comments from PMB are not helping each either.

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.

otr1:

Only investors that are there as charities.(which they are not)

This people don't care if the devil (investors care about devils touching their money)

Investors will always find a way round even if the government makes a policy counter-productive to their businesses- which I doubt this government will do.

otr1:

Have it in mind that the slow-down in growth has been going on since last year- when we had ministers. It won't stop just because we now have new President, though I think we need ministers now.

PassingShot:

He was described in the book to be an effective and very convincing orator.

989900:


Your dilapidated cranium making you go blind too?

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.

neocortex:


Change that your moniker , only smart people are allowed to use that name.
so in your warped mind, the IMF and the world bank are all voodoo eceomists
who are on jonathan's payroll.

If you continue like this you may end up a complete zombie who can't think for himself.