"Nigeria growth rate averaged 8 percent between 2000 and 2014".

Is it up to a year your dear country celebrated displacing South Africa as largest economy?

Most people here are zombies and are not even learned or enlightened as the analyst but will still make noise instead of reasoning. Nde ara!

IPOB Youth

citizenisb:
JPMorgan Chase & Co.’s decision to exclude Nigeria from its local-currency emerging-market bond indexes tops a year of pain for a nation reeling from a collapse in oil prices, slowing growth and a lack of economic leadership.

Nigeria has gone almost full circle from a favored investor destination in Africa three years ago -- because of its status as the continent’s largest crude producer and most populous nation -- to being rebuffed. While most of the weakening sentiment is due to the more than halving in oil prices since last year, a series of missteps by the central bank and President Muhammadu Buhari’s delay in appointing an economic team are adding to the slide.

The JPMorgan news is “a clear signal of dampened investor sentiment,” Manji Cheto, vice president of Teneo Intelligence in London, said by phone on Wednesday. “For things to turn around so quickly in three years’ time shows how important it is for governments to recognize that market sentiment is so fickle, and I don’t think the Nigerian government ever really understood this.”

“There will be a significant capital outflow,” Seun Olanipekun, an analyst at Investment One Financial Services Ltd., said by phone from Lagos, Nigeria’s commercial capital.

“The major consequence will be the loss of confidence by offshore investors in our markets. The [b]fact that the Central Bank of Nigeria had time to take action and they failed to do so [/b]will negatively impact how the monetary authorities are viewed by the international community.”


http://www.bloomberg.com/news/articles/2015-09-10/investors-love-affair-with-nigeria-wanes-as-jpmorgan-cuts-bonds

They will beg to come back leave them

The country’s ejection from the GBI-EM index late on Tuesday has already triggered outflows from the $2bn of local bonds the index tracks. Nigeria’s bond market regulator imposed a new spread limit on Thursday, reports said. By mid-morning on Thursday, the domestic stock market had slid nearly 3 percent to hit the biggest two-day decline in eight months.

China has been roiling global markets as its leaders try to stop a huge stock bubble from bursting and its economy from stalling

With Brent crude below $45 a barrel, “the last thing Nigeria needed was exclusion” from the index, the Chief Africa Economist at Standard Chartered Bank, Ms. Razia Khan, said.

Nigeria will be ineligible for next re-entry for 12 months. “This could well be the crunch time, because it’s when Nigeria most needs its access to markets, external borrowing, and foreign capital,” Khan added.

Some investors voiced concerns on Thursday that Nigeria could also be removed from the MSCI frontier index.

But investors say the bond and equity markets sell-off is of less concern than the underlying reasons JPMorgan removed Nigeria from the index three years after the country’s inclusion boosted confidence in it as an investment destination.

The US bank cited tight capital controls introduced by the Nigerian central bank to prop up the naira as one reason for its decision. The naira officially trades near the central bank pegged rate of 197 to the dollar but on the black market has hit 240 to the dollar in recent months. On Wednesday, the naira firmed slightly to 221 to the dollar.

The protectionist policies of Emefiele and his refusal to devalue the naira again — it has already been devalued twice in the past year — have alarmed observers, as has the lack of action taken by Buhari.

“Nigeria needs to acknowledge that oil prices have fallen and that prices, including the FX, must adjust accordingly, even if it hurts in the short term.

This is vastly preferable to entering a heterodox system that creates perverse incentives and results in permanent and ever-worsening distortions,” the Head of Research at Ashmore, an emerging markets-focused asset manager, Jan Dehn, said.

“Where is Buhari? Is he in control of economic policy at all?”

http://www.punchng.com/business/money/jp-morgan-emefiele-defends-cbn-policiessays-i-dont-know-what-the-issues-are/

The central bank governor, whose protectionist policies and management of the foreign exchange rate has alarmed analysts, said that dollar demand was still being met, although traders say liquidity has dried up.

The country’s ejection from the GBI-EM index late on Tuesday has already triggered outflows from the $2bn of local bonds the index tracks. Nigeria’s bond market regulator imposed a new spread limit on Thursday, reports said. By mid-morning on Thursday, the domestic stock market had slid nearly 3 percent to hit the biggest two-day decline in eight months.

China has been roiling global markets as its leaders try to stop a huge stock bubble from bursting and its economy from stalling

With Brent crude below $45 a barrel, “the last thing Nigeria needed was exclusion” from the index, the Chief Africa Economist at Standard Chartered Bank, Ms. Razia Khan, said.

Nigeria will be ineligible for next re-entry for 12 months. “This could well be the crunch time, because it’s when Nigeria most needs its access to markets, external borrowing, and foreign capital,” Khan added.

Some investors voiced concerns on Thursday that Nigeria could also be removed from the MSCI frontier index. But investors say the bond and equity markets sell-off is of less concern than the underlying reasons JPMorgan removed Nigeria from the index three years after the country’s inclusion boosted confidence in it as an investment destination.

The US bank cited tight capital controls introduced by the Nigerian central bank to prop up the naira as one reason for its decision. The naira officially trades near the central bank pegged rate of 197 to the dollar but on the black market has hit 240 to the dollar in recent months. On Wednesday, the naira firmed slightly to 221 to the dollar.

The protectionist policies of Emefiele and his refusal to devalue the naira again — it has already been devalued twice in the past year — have alarmed observers, as has the lack of action taken by Buhari.

“Nigeria needs to acknowledge that oil prices have fallen and that prices, including the FX, must adjust accordingly, even if it hurts in the short term. This is vastly preferable to entering a heterodox system that creates perverse incentives and results in permanent and ever-worsening distortions,” the Head of Research at Ashmore, an emerging markets-focused asset manager, Jan Dehn, said.

“Where is Buhari? Is he in control of economic policy at all?”

[size=13pt]I sincerely weep for Nigeria...
Nigeria truly is going back to jagajaga again.....

We have sadly moved from one set of uncaring leaders such as OBJ, but at least that were smart enough to hire capable hands to run Nigeria, to completely inept and ignorant one we have today. That sadly believes he alone has all the knowledge to run our economy without the benefit of intellect.[/size]


https://www.youtube.com/watch?v=vLk6aEEYhKs

otr1:
The ones leaving need to go to be honest.
Their presence never profited any Nigerian in the first place.
Before you quote me, please first find out where the profits they make doing business in Nigeria, go to.

R they to give u their profits or services?
Smh. Ignorance is bliss.
All just to defend trash

SeverusSnape:

Liar!...GEJ's government was more investor friendly, When did you hear or read in the news of investors losing such large sums of money as they are losing now?

.don't mind d broom waving demon

misreal:
during gej's reign,we heard lots of things like Nigeria has the largest economy in Africa,yet I couldn't boast of sleeping with light.now I am hearing how that investors are ruining awaay from Nigeria but I don dey sleep with light..please somebody tell the investors to flee outa this country,so thaat I can have light for twenty four hours.

How ignorant. What magic did Buhari perform for light to pop up.
Look I had constant power even while gej was still president. N it's still d same. Sabotage killed all his efforts.
Moreover, peeps like u refused to notice all d power plants he was commissioning up n down d country n peeps like u still accused him of not working in d power sector. N u feel wen d dullard came he magically brought light? Without any work? Or commissioning n building of power stations?
Nigga how did u pass waec?
My friend tell ur hero herdsman to use d same magic u think he used in giving us light n Pay all d workers their money been owed for months now. N also make investors come back.
In fact his magic is needed in NASS
Trash

[s]

4Play:


You do realise that you are alluding to investment decisions made and statuses achieved, being the continent's top investment destination, when PDP was in power as a defence against the claim that the present government is exacerbating our economic woes? This is okay if you are not a partisan hack but since you are, the hypocrisy in your argument is rather glaring.

[/s]


Rubbish...

We all need to tighten our belt for Austerity

ellechrystal:

How ignorant. What magic did Buhari perform for light to pop up.
Look I had constant power even while gej was still president. N it's still d same. Sabotage killed all his efforts.
Moreover, peeps like u refused to notice all d power plants he was commissioning up n down d country n peeps like u still accused him of not working in d power sector. N u feel wen d dullard came he magically brought light? Without any work? Or commissioning n building of power stations?
Nigga how did u pass waec?
My friend tell ur hero herdsman to use d same magic u think he used in giving us light n Pay all d workers their money been owed for months now. N also make investors come back.
In fact his magic is needed in NASS
Trash

take it easy jorh.we are not quarrelling. I wonder how people enjoy abusing others for stating their own opinion..

Buhari will soon blame cbn governor for all this mess and will replace him with a northerner.

ellechrystal:

R they to give u their profits or services?
Smh. Ignorance is bliss.
All just to defend trash

So it's ok to make money in Nigeria and spend the profit elsewhere?
Do you know the implication of that or you're just being ignorant or your hatred for Buhari/APC won't let you reason or both?

Give me the list of investors leaving Nigeria and I'll tell you how their presence makes no difference.

Buhari's emergence as the President has turned everyone to emergency economists.
*spits*

citizenisb:
JPMorgan Chase & Co.’s decision to exclude Nigeria from its local-currency emerging-market bond indexes tops a year of pain for a nation reeling from a collapse in oil prices, slowing growth and a lack of economic leadership.

Nigeria has gone almost full circle from a favored investor destination in Africa three years ago -- because of its status as the continent’s largest crude producer and most populous nation -- to being rebuffed. While most of the weakening sentiment is due to the more than halving in oil prices since last year, a series of missteps by the central bank and President Muhammadu Buhari’s delay in appointing an economic team are adding to the slide.

The JPMorgan news is “a clear signal of dampened investor sentiment,” Manji Cheto, vice president of Teneo Intelligence in London, said by phone on Wednesday. “For things to turn around so quickly in three years’ time shows how important it is for governments to recognize that market sentiment is so fickle, and I don’t think the Nigerian government ever really understood this.”

“There will be a significant capital outflow,” Seun Olanipekun, an analyst at Investment One Financial Services Ltd., said by phone from Lagos, Nigeria’s commercial capital.

“The major consequence will be the loss of confidence by offshore investors in our markets. The [b]fact that the Central Bank of Nigeria had time to take action and they failed to do so [/b]will negatively impact how the monetary authorities are viewed by the international community.”


http://www.bloomberg.com/news/articles/2015-09-10/investors-love-affair-with-nigeria-wanes-as-jpmorgan-cuts-bonds

they. Should run for there lives,, and wait for biafra we will give them land sea air to Thrive

Kx:
The investors that
A. Built world class refineries
B. Established car assembly plants like Toyota, Honda etc
C. Turned our cocoa into chocolate
D.established world class roads and other infrastructures that profited them and d populace?

How come the kind of investors that gets attracted to Nigeria are more of short term fund speculators/investors than long term?

You know what? I was about to ask same questions until I saw your post. These investors are not the kind Nigeria need now. We need investors that will invest in our refineries, power, water etc. Thanks.

Bevista:
Most of the investors referred to in the article never invested in the Real Economy, they only invest in short term Financial Assets.

What Nigeria needs now are Real investors and not Speculative investors. I think PMB needs to constitute his Economic Team ASAP.

On point

Firefire:



This is getting bad...


Buhari should simply resign if he has no clue of running the government.

what a joke of the century tell your pay masters that STEALING IS NOW CORRUPTION, sorry your blackmail won't work.

ellechrystal:

How ignorant. What magic did Buhari perform for light to pop up.
Look I had constant power even while gej was still president. N it's still d same. Sabotage killed all his efforts.
Moreover, peeps like u refused to notice all d power plants he was commissioning up n down d country n peeps like u still accused him of not working in d power sector. N u feel wen d dullard came he magically brought light? Without any work? Or commissioning n building of power stations?
Nigga how did u pass waec?
My friend tell ur hero herdsman to use d same magic u think he used in giving us light n Pay all d workers their money been owed for months now. N also make investors come back.
In fact his magic is needed in NASS
Trash

stop raising false alarm as if shoprite, mtn aand co are packing their bags. You guys are just trying to incite the public against the Govt? can't you see its not working?

SeverusSnape:
Bring back Ngozi Okonjo Iweala

to finish the remaining money left abi? una like Nigeria well well o

Bevista:
Most of the investors referred to in the article never invested in the Real Economy, they only invest in short term Financial Assets.

What Nigeria needs now are Real investors and not Speculative investors. I think PMB needs to constitute his Economic Team ASAP.

You de mind the wailers as if all the multinational companies are packing their bags tonite but good to know that Nigerians are now discerning who these fake investors are. There is no more free money to steal again simple.

citizenisb:


The US bank cited tight capital controls introduced by the Nigerian central bank to prop up the naira as one reason for its decision. The naira officially trades near the central bank pegged rate of 197 to the dollar but on the black market has hit 240 to the dollar in recent months. On Wednesday, the naira firmed slightly to 221 to the dollar.

”

The wailers never saw this in the article I guess, they are always quick to judge a Govt who is trying to clean up the mess of their beloved GEJ

Truckpusher:
And here comes one of the iidiots.

the correct iidiot of the guy is hiidiot.

mikolo80:
they should go abeg bfor they colonise us again

even britain is afraid of re-colonizing a zoo

This dullar.d don finish this country. This Buhari government sef!

otr1:

So it's ok to make money in Nigeria and spend the profit elsewhere?
Do you know the implication of that or you're just being ignorant or your hatred for Buhari/APC won't let you reason or both?

Give me the list of investors leaving Nigeria and I'll tell you how their presence makes no difference.

Buhari's emergence as the President has turned everyone to emergency economists.
*spits*

[size=13pt]They take their profits only after spending what it takes to be profitable in Nigeria

1) salary for workers

2) generators

3) fuel/diesiel

4) suppliers of materials

5) furniture

6) Radio averts

7) TV adverts

8 ) newspaper Adverts

9) etc, etc.

All that cost of doing business in Nigeria goes directly into Nigerian hands.[/size]

Bloomberg is doing America's bidding

before it gets better, it will get worse it has always been that way. Nigeria needs to restructure it's entire economy from the ground up, we need investment that is beneficial to the Nigerian people in the long run. Based on my recent findings, the dollar is going down and there's is a global depression on the way. The problem with Nigeria is we don't take initiative, we always follow. it is time we get down roll up our sleeves and get our hands dirty we need to take care of ourselves first. And we'll do that by restructuring our economy.