To all the indomie children on nairaland shouting Sai Buhari,
1983/84 Buhari started an Economical policy that made things so hard that we had to queue in every street in Nigeria for essential commodities like Omo and bathing soap .The Govt back then sends trucks to your neighbourhood where you queue to buy stuff like soap and rice. Buhari had no solution to the economic hardship before he got overthrown. Prepare for them harsh days to come back as yet[b] AGAIN [/b]Buhari has no solution just like 1984

superstar1:
We shall weather the storm.

We will emerge stronger.

China did not participate in the derivative market for years. They were driven by need to curb corruption and do things that only benefits their country.

That is the right way to go. It gives us the opportunity to strengthen our bond with more local content than foreign investors that can easily call back their funds at any point in time. Thereby immunising our economy from capital flight and sabotage.

We will only do things that will benefit our people and country. They will come back to beg us.

I no too get money but I am forced to declare another cartoon of orijin for u after the one I declared for Seunmsg.

Any way, *Mama Nkechi, give this man one cartoon of orijin, I go pay when Aregbesola pay the salary e dey owe us*

superstar1:
We shall weather the storm.

We will emerge stronger.

China did not participate in the derivative market for years. They were driven by need to curb corruption and do things that only benefits their country.

That is the right way to go. It gives us the opportunity to strengthen our bond with more local content than foreign investors that can easily call back their funds at any point in time. Thereby immunising our economy from capital flight and sabotage.

We will only do things that will benefit our people and country. They will come back to beg us.

I hope you are ready to start buying made in Nigeria goods no matter the region it is being made

J.P morgan doesn't just delist you because you earn less than you used to.
There are more important indices they use.
Infact, the reduction in oil prices has inflicted some level of damage on a lot of big economies. but then, none of these countries have been kicked out of J.P morgan.
The trust in our economy is the issue here. Nobody trust this Nigerian govt to weather the storm.
it has no serious economic expert in its cabinet, no identifiable economic policy to base any credible forcast on.
Those are the issues here.

mildflame:


Maybe U can't but Nigeria can, can U really explain d Economic Module Nigeria operates. What kind of STATISTICS/DATAS do we u use? Are old r these Data n funny enough our inflation index is base on food prices. As for recession have we ever been out of it? JP Morgan Index can't stop d growth of our economy if we imbibe n strictly put POLICIES encouraging DOMESTIC CONSUMPTION n INDUSTRIES

hope you are ready to start buying made in aba goods?

ModiKen:


The only difference between us and the likes of Singapore and Malaysia is bad leadership.

What notable resource do south east Asian countries have.

You think if Naija was functioning as it should, we would have this thread on JP Morgan list.

They would even be begging us to be on their list.

Mr. Man, u are the zombie here cos u fail to see that the CBN is doing its best to protect our currency.

Just cos we want to be on their list we should fold our arms and watch the naira become like the Zimbabwean dollar.

Smh....

It was J.P morgan that ''begged'' us to join them, when they saw the progress Nigeria was finally making.
What has changed between now and then?
From being a celebrated member to being dumped out? Something has changed, and it is not just a drop in currency due to the price of oil.

tsdarkside:

me,i can only laugh......economics is a rough game....and i hate it!!!

nigeria should only care about nigeria.......screw the international community....buy only made in nigeria!!!

I hope you wil also buy made in nnewi products...it is easy to mouth off these things

SenseiX:
Brace yourselves welfare seeking Nigerians, tough times are ahead.
The economy is heading for a recession by the last quarter of the year and if Iran is allowed to release more oil into the already over saturated oil market, oil price might even fall below $40.....
In the midst of all this, the country is yet to get an economic Marshall plan and even an economic team.
Okonjo Iweala's tireless efforts placed the Nigerian economy on a pedestal, kept us at constant 7% growth, single digit inflation, got us into the bond index etc while Bubu's body language or is it body odour has got us here.

You are an economics illiterate and an idiotic black slave. What has this got to do with Okonjo Iweala and her pig face? Heck, I'd even wager that she might be responsible for getting naij entangled in this stupidity/slavery in the first place cos she's an economic hitwoman and the initial deal was supposedly signed in 2012.

Let me break it down for you in village language: JP Morgan wants some concessions from Nigeria, so as to have more leverage and exert more authority over Nigeria's monetary policies. And a country like Nigeria can't do that unless they want the country to be more entangled with whatever basket case most Western economies are today, with absolute control by foreign countries.

So I believe Nigeria rejected the deal, hence the delisting. The onus is now on Buhari for Nigeria to either maintain its monetary/financial policy independence like China to protect the interests of Nigeria/Nigerians, or to sell everyone into slavery. The choice is yours and not everything should be about sycophancy and political jobbing. You have a big brain and it is advisable to start using the brain matter in there from time to time.

Anyway, the Nigerian economy isn't a well structured one - so it won't affect the masses. Only the elites will feel the impact. But it should be for a short period if they can get a brilliant and astute economic team to put things in order. And there are alternatives based on how diverse the world economic powers are today. This is a big test for Buhari - let's see how he'll handle it.

SenseiX:
Brace yourselves welfare seeking Nigerians, tough times are ahead.
The economy is heading for a recession by the last quarter of the year and if Iran is allowed to release more oil into the already over saturated oil market, oil price might even fall below $40.....
In the midst of all this, the country is yet to get an economic Marshall plan and even an economic team.
Okonjo Iweala's tireless efforts placed the Nigerian economy on a pedestal, kept us at constant 7% growth, single digit inflation, got us into the bond index etc while Bubu's body language or is it body odour has got us here.

will they listen? I guess not

CSTR2:
It was J.P morgan that ''begged'' us to join them, when they saw the progress Nigeria was finally making.
What has changed between now and then?
From being a celebrated member to being dumped out? Something has changed, and it is not just a drop in currency due to the price of oil.

Please what has changed?!

Tell me what exactly has changed?!!!

It is this inferiority complex some Africans have about themselves that is part of the reason why we keep kissing the a$$es of the whiteman.

To hell with them and their list.

All we need is the right policies and actions to hasten the infrastructural growth of the country.

Mr. Man trust me we don't need these white men lists to improve our economy.

We should take a cue from China.

Today America owes them thousands of dollars.

I hope PMB keeps to his promise of "not resting till made in Nigeria products become a world wide brand like made in China goods

ModiKen:


Please what has changed?!

Tell me what exactly has changed?!!!

It is this inferiority complex some Africans have about themselves that is part of the reason why we keep kissing the a$$es of the whiteman.

To hell with them and their list.

All we need is the right policies and actions to hasten the infrastructural growth of the country.

Mr. Man trust me we don't need these white men lists to improve our economy.

We should take a cue from China.

Today America owes them thousands of dollars.

I hope PMB keeps to his promise of "not resting till made in Nigeria products become a world wide brand like made in China goods

are you really and honestly ready to be buying more of Nigerian made goods?

daniska3yaro:
Ngozi where u @?,forget d issue of begin Pdp or apc member bt ngozi iwela,she is a genius,d world d feel her die,jus was unlucky begin in this last administration.plenty people were no even pass common econs or commerces for waec go the get mouth the insult her,make thunder scatter u.

Like NgeneUkwenu?

baby124:

When and how did we get these debts and what was the impact of these debt in the economy? None. I think the use of this debt should be investigated and all thieves summarily rounded up and dealt with. Same thing should happen to those who entered unfavorable agreements which are contrary to the interests of the country. Until we are serious about dealing with self sabotage, we will not progress as a country. Any one willing to economically destroy their country for whatever interest should face the firing squad. It is very disgusting. Where did this 40billion dollars go to. Who entered these agreements? What were the terms? How unfavorable were they? If there is proof that these agreements were glaringly unfavorable, then these facts should be revealed and agreements renegotiated if it is clear that the agreement was fraudulent with gains to any individual on signing. Nigeria should also pursue legal remedies in international courts, if any foreign company, individual or country was party to us signing ourselves into slavery.

wonderful we have to go as far back as before ABACHA REGIME in order to investigate on OUR LOCAL DEBT PORTFOLIO AND AGREEMENTS!
and not FORGETING THAT SILIENT 8 YEARS OF NOT PAYING ATTENTIOM BEFORE 1999!

(basically if PMB should go by your style,He would waste a minimum 8 months of professional round the clock investigation to ARRIVE AT THE SAME SPOT!)

The best thing is to take the OBJ/IWEALA ROUTE RENOGOTIATE/RESTRUCTURE YOUR LOCAL DEBT PORTFOLIO BY AT LEAST 30% and your naira will as HEALTY AS CRAZY!

THEN FOLLOW UP WITH THE OTHER RECOMMENDATIONS AND SOME OTHER STUFF WHIFH I AM NOT DIVUKGING BECAUSE THAT IS THE WALK OF THE MIIIIIIINIIIIIIIISSSSSTEEERR OF THE FIIINNNNANNNCEEEE!

baralatie:

wonderful we have to go as far back as before ABACHA REGIME in order to investigate on OUR LOCAL DEBT PORTFOLIO AND AGREEMENTS!
and not FORGETING THAT SILIENT 8 YEARS OF NOT PAYING ATTENTIOM BEFORE 1999!

(basically if PMB should go by your style,He would waste a minimum 8 months of professional round the clock investigation to ARRIVE AT THE SAME SPOT!)

The best thing is to take the OBJ/IWEALA ROUTE RENOGOTIATE/RESTRUCTURE YOUR LOCAL DEBT PORTFOLIO BY AT LEAST 30% and your naira will as HEALTY AS CRAZY!

THEN FOLLOW UP WITH THE OTHER RECOMMENDATIONS AND SOME OTHER STUFF WHIFH I AM NOT DIVUKGING BECAUSE THAT IS THE WALK OF THE MIIIIIIINIIIIIIIISSSSSTEEERR OF THE FIIINNNNANNNCEEEE!

It is not really that hard to investigate all that. Money always leaves a track record. His economic team can do that in the interim while also doing their work. In the interim, the government needs to take away the absolute power of idiotic state governments being able to borrow money at will through approval of their fellow thieves in state house of assembly. Without a viable plan, such borrowings should not be approved. This will cut down the ability of governors and their co-conspirators to put the country into more debt. See Ekiti already entering how many billions of debt, I am not sure if they have any sure plans sef. I am not sure about when all the debt you talk about was taken out. But I have to guess in the last 5yrs. OBJ the old fox outwitted these foreign swindlers into debt forgiveness and took to his heels. This past government for sure put us back into that debt. I doubt very much that this debt is coming from Abacha's regime. I will do some investigation and get back

asha80:
are you really and honestly ready to be buying more of Nigerian made goods?

I'm as long as they are quality products.

All we need is to improve our infrastructure and get our industries working again at full capacity.

Kogi and Delta steel industries are in a state of coma all thanks to a man who claims to be "Father of modern Nigeria", OBJ.

I wld rather give that title to PMB when he is done fixing Nigeria.

Trailblazer1:


Ngozi Okonjo Iweala deserves to be celebrated for keeping us afloat all these years. she is indeed a rare gem

regardless of her haters from some bigoted sect. she is our hero

We should celebrate the incompetent woman who as the person in charge of our money didn't even know $10 billion was missing till SLS spoke out?

We lost billions because the same woman was issuing waivers left and right to every crooked clown in Nigeria and her corrupt cronies..

They fire worthless incompetents like her in sane climes..

You and your kind can celebrate her, but thank God Nigerians Nigerians got rid of her and her worthless, corrupt and incompetent boss..


Good riddance to bad rubbish forever..


@ Topic, JP can shove it...

ModiKen:


I'm as long as they are quality products.

All we need is to improve our infrastructure and get our industries working again at full capacity.

Kogi and Delta steel industries are in a state of coma all thanks to a man who claims to be "Father of modern Nigeria", OBJ.

I wld rather give that title to PMB when he is done fixing Nigeria.

fixing of infrastructure will not be easy especially power and all these our dilapidated rds and rail..it will take a long time even with dedicated leadership

asha80:
hope you are ready to start buying made in aba goods?

Bro I am 9ja 2D CORE, 4rm my Osun DUDU Osun(black soap) 2my Sir KAY wears.
That was how USA, UK n every other nations got there, local industries must grow and not by EDUCATED BUFFONS that call themselves ECONOMIST

mildflame:


Bro I am 9ja 2D CORE, 4rm my Osun DUDU Osun(black soap) 2my Sir KAY wears.
That was how USA, UK n every other nations got there, local industries must grow and not by EDUCATED BUFFONS that call themselves ECONOMIST

hmm ok because I know the typical Nigerian mentality when it comes to buying foreign goods when the local equivalent is available

LordVarys:
Buhari needs an economic management team and he needs it ASAP....

Buhari body language is better than any economic team...
Lolzzz

See how this guy is trying to play mind game. Saying they are more interested in Nigerians well being than whatever JP Morgan is saying.

I am already restrategizing becuase I know there is hunger on its way to this nation.

Buhari is as confused as anything you can think of.

ModiKen:


Please what has changed?!

Tell me what exactly has changed?!!!

It is this inferiority complex some Africans have about themselves that is part of the reason why we keep kissing the a$$es of the whiteman.

To hell with them and their list.

All we need is the right policies and actions to hasten the infrastructural growth of the country.

Mr. Man trust me we don't need these white men lists to improve our economy.

We should take a cue from China.

Today America owes them thousands of dollars.

I hope PMB keeps to his promise of "not resting till made in Nigeria products become a world wide brand like made in China goods

Another promise? Hmmm! When the old ones are yet to be fulfilled? And you even believe it? Allah Y'isa! It's only Lai (r) Mohammed that can promise anything I will believe now.

The naira weakened 20 percent to a record low of 206.32 per dollar in the year through Feb. 12. Extra curbs introduced by Emefiele after that slashed trading in the interbank market and have seen the currency stabilize at an average of 198.93 since the beginning of February.

baby124:

It is not really that hard to investigate all that. Money always leaves a track record. His economic team can do that in the interim while also doing their work. In the interim, the government needs to take away the absolute power of idiotic state governments being able to borrow money at will through approval of their fellow thieves in state house of assembly. Without a viable plan, such borrowings should not be approved. This will cut down the ability of governors and their co-conspirators to put the country into more debt. See Ekiti already entering how many billions of debt, I am not sure if they have any sure plans sef. I am not sure about when all the debt you talk about was taken out. But I have to guess in the last 5yrs. OBJ the old fox outwitted these foreign swindlers into debt forgiveness and took to his heels. This past government for sure put us back into that debt. I doubt very much that this debt is coming from Abacha's regime. I will do some investigation and get back

I am waiting!

Naija sef!

so because we want to be on JP Morgan listing we should make policies that allow so called foreign investors to rrape our economy anyhow they want?

does it mean countries that are not on the list are hell bound?

"all things worketh together for our good "

baby124:

It is not really that hard to investigate all that. Money always leaves a track record. His economic team can do that in the interim while also doing their work. In the interim, the government needs to take away the absolute power of idiotic state governments being able to borrow money at will through approval of their fellow thieves in state house of assembly. Without a viable plan, such borrowings should not be approved. This will cut down the ability of governors and their co-conspirators to put the country into more debt. See Ekiti already entering how many billions of debt, I am not sure if they have any sure plans sef. I am not sure about when all the debt you talk about was taken out. [s]But I have to guess in the last 5yrs. OBJ the old fox outwitted these foreign swindlers into debt forgiveness and took to his heels. This past government for sure put us back into that debt. I doubt very much that this debt is coming from Abacha's regime. I will do some investigation and get back[/s]

https://www.nairaland.com/2333619/okonjo-iweala-jonathan-incurred-21bn-63bn

Cc. baralatie

Touchey:


the economy of Singapore and Malaysia is 20 times more stable than Nigeria
in fact Nigeria doesn't have an economy!

Diesel economy according to Ghanaians.

asha80:
hmm ok because I know the typical Nigerian mentality when it comes to buying foreign goods when the local equivalent is available

I am serious bro, anything SOUTH AFRICA is what I hate most U will never catch me using anything that country, even if na free trip I NO SEND.
Tu-Face n co were made by us, OMOTOLA n co the same. If we all can carry this MENTALITY to every other facet of our economy n daily life, 9ja go BLOW. Rome wasn't built in a day

Whynotthetruth:



https://www.nairaland.com/2333619/okonjo-iweala-jonathan-incurred-21bn-63bn

Cc. baralatie

it still think PMB should get a RECOGNISED AND EXPERIENCED FINANCE AND ECONOMIST O someone who is familiar with working against the ropes(I.e. will deliver positive results in a year)

1,with no doubt,the easy way out is the obj/iweala plan(at least shed between 30% -40% of the local debt) and follow on some specifications as highlighted.
we will be hitting positive indices!!

seunmsg:


You are just being mischievous. We were listed in January 2012 when crude oil price was averaging $120 in the international market. Today, it's averaging $40. So, you can't compare the economic outlook of Nigeria in a period of economic boom to that of a period of economic recession.

And stop the lies, Nigeria's economy didn't enjoy 7% growth rate last year. Even the projection for this year going by GEJ's budget is around 4% or so. This should show you times are different.

They just like being lied to. NOI was at the helm of affairs when things were going bad. Now the full blown output is here there are blaming PMB. Shebi they said all the gains in the power sector we are seeing now are because of the investments and planning of the GEJ cabinet not PMB's own.

Let them also take the blame for this one too as they want glory for gains in the power sector.

Whynotthetruth:



https://www.nairaland.com/2333619/okonjo-iweala-jonathan-incurred-21bn-63bn

Cc. baralatie

Thanks, well I was right. 20bn in 5yrs vs 60bn from 1960 - 2009.

mescapee:


Who are the "we"?

Do you even have an inkling of what is about to happen?

The signs have been for long. What proactive measures have "we" taken? As always "we" tend to be reactive rather than proactive and "we" are always late.

What is about to happen?

Elucidate it and let us discuss it.

The worst case scenario is capital flight or repatriation of investors fund which has been happening since January. What else?

baralatie:



it still think PMB should get a RECOGNISED AND EXPERIENCED FINANCE AND ECONOMIST O someone who is familiar with working against the ropes(I.e. will deliver positive results in a year)

1,with no doubt,the easy way out is the obj/iweala plan(at least shed between 30% -40% of the local debt) and follow on some specifications as highlighted.
we will be hitting positive indices!!

With how Oshiomole, Amechi and co blackmailed and insulted Iweala notwithstanding her achievements even to the extent of ridiculing and forcing Yale to withdraw their award to her albeit without success; I believe every other renowned economist will have to think twice before jumping to serve Nigeria...