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.

IdisuleOurOwn:



Yea, we know he is a failure that is why we voted him in.


Now go hung transformer.

peppyluv02:

IdisuleOurOwn:



Who is this toad?

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.

peppyluv02:
Olodo,go back to school.

Gbawe:


Well-said. What some will not acknowledge, because they love to hate Nigeria and the thought she may actually make progress and become great, is that Buhari did not take charge of a proper Country as some of us know an efficient Country to be. Buhari took over an "arrangee" geographical zone where a bunch of common criminals and political opportunists, posing as "leader", perverted every process and warped every sector possible to loot and plunder Nigeria cynically. This is what Buhari has to repair and reverse. Anyone who is truly and passionately Nigerian, 100% and without any saboteur intention, will realise what Buhari must achieve and why he must be supported.

For example, we have a nation where the parastatal that control our biggest asset, crude oil, was turned into a giant scamming machine by the PDP since 1999. What could be worse than that as far as the concept of leaders creating all the problems they should be providing solutions for? The same PDP ensured our refineries were deliberately sabotaged so that a sophisticated and highly opaque fuel subsidy scam system could be put in place to literally cheat Nigeria of billions of dollars.It is the same in every sector. Aviation is a man-made mess. SME sector is comatose due to neglect and under-investment. Health is basically about throwing a dice in Nigeria i.e live or die with both death probably more hcertain if one is seeking treatment for a serious ailment. The lazy PDP, full of crooks and scammers, ensured the Nigerian economy is not as not robust, independent and diversified enough to provide more jobs and prosperity for Nigerians. The PDP could not even create an enabling environment for the commercial mining of valuable mineral resources. The process of awarding contract, very important to infrastructural development, is so bastardized that nothing can be expected to work as it should.

A newly constructed road would need renewing within three months in Nigeria, whereas new roads in sane nation perform well for more than 5-10 years, because the Nigerian politician has awarded the contract to his cousin who is a butcher by profession and not a road builder. All this at a time when oil is now selling around $45.00 per barrel when a totally corrupt PDP never put 'buffers' in place while oil sold for over $100.00 for a long period of time. If most Nigerians are morally upright then they would get behind Buhari instead of attempting to taunt a decent and focused President over the problems caused by wicked, grossly corrupt and demonic wasters posing as "leaders" like GEJ, Allison-Madueke, Orubebe, Obanikoro, Adesiyan et al.

baralatie:

and the above my guy is why investors are doing sit down look to Nigeria economy.
"PMB moves,they move"
"PMB does not move,they find a solution to their money cravings"

otr1:

And the solution to their money cravings is still doing their businesses.

You think investors are interested in body language?
There is a pattern; if the rate of GDP growth falls, investment falls too.

You'll soon realize that the slump in growth is majorly an economic issue, not political.
The full effect of the decrease in the global oil price is finally here and the government must find a way to bridge the gap- not by borrowing anyway.

BlackrulesDworld:


If you have interest in becoming s politician, just dabble straight into it.
You dont neeed to bring me in!

OlaSpeaker:

dis is funny u can't b a politician yet u condemn dos who got d gut too.........I'm not saying.u should criticize but let ur criticism b construtive n objective free frm sentiment

baralatie:


you still don't get it if PMB continues to reflect inactivity the investors with their money cravings move their port folio to your neighbouring states like Ghana or south Africa and Kenya!
so it does not pay Nigeria for PMB to be operating governance in a closed pattern.

if you don't want to borrow or be loan struck.Nigeria must and has no choice but to allow investors to continue to move and that is only possible when they can see your administrative govt make decision that sustains investments, growth and presents its ideas and is FULLY REPRESENTED.
Not where the investors have a "sense" of "one man king"

otr1:

I get your point. True for potential investors.

But I see no way an investor who means business and still making profits, will move out just because we don't have ministers yet- something they are certain we'll have.

What they need is a favourable business climate, which in Nigeria, hasn't changed a bit.
A 39% fall in oil price in 4 month for a nation whose economy is heavily dependent on oil revenue, the little fall in investment is still a miracle.
The government is grappling with shortage of fund- something needed to stimulate investment.
Our economy is that which is centered on oil. And with this continuous fall in oil price, this report is not a surprise to me.
I'm more interested in how this government will get us out of it.

baralatie:

well,you are pointing at two general investors with funds
a,the ones already in the economy
b,the ones looking at the performance,financial reports of group (a) before making a decision to move into the economy

the ones already in the economy following the FDI are
1,portfolio managers
2,foreign construction companies
3,automobile assembly plants
4,oil and gas servicing companies

and the percentage of funds that has come in is still their as at 2014 was $1 billion
but as at march,2015 it is $730million

Now let us look at the local non oil export figures
at 2013 non oil export is $2.97billion the figures
2014 DEC non oil export was $2.714billion

Now these are Nigerian confirmed figures!
1,we are through with a very peaceful elections
2,but the fed govt is yet to FULLY ASSEMBLE ITS CABINET AND PUBLICLY CHART ITS COURSE.

the business environment is a community that shares information's and keeps pointers on the NEXT BIG DEAL.

PMB is either advocating Nigeria as the next BIG DEAL FOR INVESTORS BY Screaming about investment climate or the investors are waiting for him to do so!




Now concerning his diversification of the economy from being an oil based economy.let us break it down
1,Agriculture
2,Mining and Coal deposits
3,Iron and Steel industry
4,Real and Property
5,service companies
6,Heavy Engineering and allied industries
7,Aviation ,Instrumentation and special engineering
8,shipbuilding
9,Manufacturing industries
10,Textile and synthetic industries

10 I have listed and it goes on and on.I could open a thread to deal with diversification issues and the key is to sell the image of Nigeria in the positive and not to sit with an image that Nigeria elected president cannot constitute a vomplte executive cabinet!

otr1:

Since you don't want to agree with me that this issue is purely an economic issue and not political, can you explain why there was a fall in non-oil export and FDI in 2014 compared to that of 2013?
If you were an investor, how exactly will the presence of ministers boost your confidence in the economy and in the absence of of that, would you cut down your investments when your profit is increasing? What course exactly are they waiting for him to chart and how is the absence of a course now affecting their profit?
I hope you realize that it's not rational for investors to cut their investments in the face of rising profits all in the name of watching the president's moves? I'm certain a Dangote- or any other major investors- won't do that. Nigeria is politically stable with no cause for fear of the unknown to necessitate that. The elections and transition have come and gone peacefully.

Like I said, our economy is still 70% oil and with a huge slide in oil revenue, a resultant slight fall in investment is the consequence of reduction in public expenditure. It won't make any difference even if we've had ministers since May 30.
The government needs time to settle down and plan and I think the delay in appointing ministers is justified.
Exercising patience for this government for this moment will guarantee comfort for years.

baralatie:

the economic slide is politically based that is why it fell and as long as PMB is still not settled or not screaming that he is settled in office.the investors would be very caustious.
Dangote is right now in Kenya,south Africa and has signed the Chinese to build a whooping $4.3billion factory facility outside Nigeria.
I want an investor to sign a whooping $4.3billion investment facility in Nigeria alone and the investor is thinking out loud....why??even your president is yet to name his policies and cabinet.so why should he bring investment down to Nigeria?

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?

BlackrulesDworld:


Go check the meaning of criticism.
Without criticism this government will get to no where.
I can't be a politician because my calling is totally different from that. Btw there is no big deal in becoming a politician.

OlaSpeaker:

your criticism would have been better if constructively given than insulting the first citizen of the country your President my President MUHAMMADU BUHARI

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.

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?

favourlove1:
keep defending ur role model ok? So what happend btwn July n August. Was he waiting to live on what Gej left over? What's wrong with you? Always blaming Gej. Can't you accept that ur Buhari hasn't done n hasn't got much to offer? U think your better educated? What a pity. Are the minister coming from out of space? Keep hoping.

jpphilips:


The rate at which Nigeria is raising a generation of goats is alarming.
The IQ level of an average Nigerian youth is fast competing with that of a squirrel.
How can a country have this much of dumb people in her population at a time, are we cursed?

jpphilips:


The rate at which Nigeria is raising a generation of goats is alarming.
The IQ level of an average Nigerian youth is fast competing with that of a squirrel.
How can a country have this much of dumb people in her population at a time, are we cursed?