john4reala:
Nigerians thinks Okongo iweala was the problem .... Let me see the Qualified Economist under your illiterate PMB who can stabilize the Economy....... Buhari went to Pack all the Secondary School dropouts and give them what they cannot handle while young youths are here suffering..... #Gerrarahere

lagmostkuit:


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2rutalk1:
The only Nigerian Economist alive that can help revamp Nigerian economy from its sorry state is Prof Charles Soludo. I know many will not take this, but that is a fact. Contractionary policies should be jettisoned right now while the governemnt should pursue expansionary policies in order to boost the real sector of the economy. And I can guarantee you that this is one macroeconomic area Charles Soludo is good at. He remains the John Maynard Keyness of Nigeria. If Buhari ignores Prof Charles because of political or ethnic reasons, I am sorry we may not find it funny.

MrEverest:
This is something I have observed on my own!! In my business, I observed between 50% to 70% drop in both total revenue & profits for the past couple of months & I was alarmed. I heard similar complaint from a friend who is an estate agent, he told me that people hardly buy properties these days & many other example I cant state here. If a conservative body like the CBN can give such scary verdict with a rather short time frame, then I believe that Nigeria is already in recession[b][/b]!!! Lets stop playing blind politics because it is the Nigerian masses that would bear the brunt. Finally, Buhari's body language has done more harm than good.

neocortex:


The same way he revamped the failed banks.
Soludo kept quiet even though he knew many banks were insolvent,
who knows the amount of bribe he took from those failed banks.

2rutalk1:

If you really know meaning of "run" in the banking industry, you will understand that blowing the problem of banks' insolvency out of proportion is the worst reason why we experience 'run' in the industry. It ought to be managed just as Soludo did. And one way to manage it, is through recapitalization policy, which Soludo carried out professionally. Even in the western world, that is the practice. Tell me the positive impact of Sanusi's noise on the economy. During Soludo's era, the banking sector was the second highest employer of labour after agriculture. Graduates were flourishing in both Commercial and Microfinance banks. It is now left for you to compare and contrast, using the current unemployment problem as a case study. The basis for every economic policy is economic welfare of the people. Now, are we better off or worse off?

maestroz:
CBN thanks for the information.

Make i Begin go stock my barn for foods and drinks just like Joseph did in the bible in the days of famine.

Burger01:
Aftermath of Jonathan's reckless rule. Jonathan was indeed a disaster to Nigeria

neocortex:


Of what use is an economy that is based on paper ?
You and I know that the bubble must surely burst, the longer it lasts the more devastating the effects.

Themandator:



Common sense would have made it clear to you that from the report, the slide has been largely if not entirely sure during the last few months of body language economics.


The man said proactive steps which is a way of advising Mr president to constitute an economic management team and stop imagining that mere fight against corruption will lead to an economic Eldorado... .. There is no correlation between anti corruption fight and effective governance.. . That's is from an Havard researcher.

You can fight corruption and still leave the populace worst off than they were during the so called regime of corruption.

ecel:
On the economy, here less people will comment. Here people will blame everything on the past administration. What are the measures that the new government has taken since assuming power? What are their economy policies? There is no money in the land. Workers are not paid? Our youths are turning to badoo everyday. I think we should shout on these politicians to provide for us rather fighting themselves and some people will be supporting those thieves that have stocked dollars in their various homes to spend for the rest of their lives. They are just wasting our own time people. They are powerful than most of our systems in government. Let us continuing to work on them to establish a government system to prevent corrupt people from holding public office in future. Let us challenge CCT or CCB to publish all asset declarations of all political and public officers since 1999 only and all of us will be amazed that even ordinary permanent secretary is richer than Saraki. What about contract inflation where Nigeria is loosing billions of dollars to these clueless thieves? I salute PMB for achieving these far but they should please come out with their economy policies rather being a photographic government.

Gaskia:
From late 2013, oil price started going down and the economic team implimented several measures to cushion the effect and shield the economy from bleeding. One of such steps was the unbundling of the power sector which saw a huge inflow of foreign direct investments. Another one was the implimentation of the local content act which attracted external funding to assist new Nigerian E&P companies to buy assets from the IOC's and develop them. The investments provided a buffer to the economy. Other ones were the stimulation of the Agric sector which saw a remarkable rise in agro exports and the new automotive policy that attracted investments from auto giants to build their plants in Nigeria. Also was the strategic economic relationship with China who is the global hub for retail business. The country was able to reduce inflation to a single digit and our economy gained global recognition as evidenced in the positive indipendent ratings.

It takes integrity and competence to run a large economy like Nigeria especially in time of crisis like now. Buhari's integrity is not in doubt by me but I can not vow for his competence and maturity in handling complex economic situations. He does not need to be an economic guru but he should apply his temperament correctly and avoid party and regional sentiments in appointing drivers of the economy. He should not be afraid of making mistakes as a leader. He should consult widely but swiftly. His utterances should be checked. For instance, he has already brandished the ministers he will appoint as noice makers, this may affect the way the global business group view our ministers when dealing with them.
Buhari needs the support of all of us and he must also make effort to earn it.

400billionman:


Let's put it this way. Stiffling spending while not increasing earnings(economic activities) leads to poverty. Increasing spending by 50% and even increasing earnings by 70% leads to boom.

Its like a salary earner reducing his monthly expense from N20k to N15k while his salary remains at N22k and he claims he is increasing his savings. He is simply starving..

Why not get another job that pays N35k and see your savings shoot up to N15k while still maintaining your N20k standard of living?

This Buhari self. We told APC that this man's low mentality will affect our economy, they refused..

Worse off, many governors have collected bailout and pocketed the money yet Buhari has not set up a committee to ensure that the bailout he paid to his state governors were actually used in paying salary arrears, to create economic activity. While he keeps fighting corruption in his past, bigger corruption is taking place in his present.

What is the definition of SIMPLETON?

jimi4us:
Africa will always be Africa. how someone will sit down and believe that an old military dictator can rule this country in this digital age, its crazy. now they will all suffer it. it's next year around feb/March people will feel todays story.

Kingspin:
Some people are busy slapping for Tinubu and Buhari over Saraki, an endless issue till 2019, while our economy is getting worst daily. Our politicians brainwashing there supporters since 1960.

Gaskia:
From late 2013, oil price started going down and the economic team implimented several measures to cushion the effect and shield the economy from bleeding. One of such steps was the unbundling of the power sector which saw a huge inflow of foreign direct investments. Another one was the implimentation of the local content act which attracted external funding to assist new Nigerian E&P companies to buy assets from the IOC's and develop them. The investments provided a buffer to the economy. Other ones were the stimulation of the Agric sector which saw a remarkable rise in agro exports and the new automotive policy that attracted investments from auto giants to build their plants in Nigeria. Also was the strategic economic relationship with China who is the global hub for retail business. The country was able to reduce inflation to a single digit and our economy gained global recognition as evidenced in the positive indipendent ratings.

It takes integrity and competence to run a large economy like Nigeria especially in time of crisis like now. Buhari's integrity is not in doubt by me but I can not vow for his competence and maturity in handling complex economic situations. He does not need to be an economic guru but he should apply his temperament correctly and avoid party and regional sentiments in appointing drivers of the economy. He should not be afraid of making mistakes as a leader. He should consult widely but swiftly. His utterances should be checked. For instance, he has already brandished the ministers he will appoint as noice makers, this may affect the way the global business group view our ministers when dealing with them.
Buhari needs the support of all of us and he must also make effort to earn it.

Burger01:
Aftermath of Jonathan's reckless rule. Jonathan was indeed a disaster to Nigeria

2rutalk1:

But I just told you the multiplier effect of Soludo's policies. Even at that, what impact has Sanusi's "sanitization" policy made on the economy. Are our banks better off? Are Nigerian banks generating more job opportunities now more than Soludo's era? Are Nigerian banks giving more loans to SMEs more than before? Once again, tell me the positive impacts of Sanusi's "cleansing" policies on the economy as a whole. Remember that liquidity is not the only measure of bank's stability. We have what we call CAMEL rating in Economics, which stands for: C=Capital adequacy, A=Asset quality, M=Management E=earnings L=Liquidity. Therefore, Solvency/liquidity is just one part of the measures used in determining the stability of a bank.

hemartins:


guess you feel good now after abusing your President.

bugzbunny:
Arewanistan loading..................
Going the way of pakistan.. Tajikistan etc

Say bye to Naija as u knw it..

989900:
1. The past administrations (from way back), and especially the immediate past admin's recklessness and cluelessness takes 50-60% of the blame.

2. Global economic slow down and cheaper oil accounts for 20-30%.

3. This present administration will take 10-15% of the blame . . . maybe less; all this administration has been doing so far is trying to rectify the ills of the past (from maybe 40 years back); especially culturally as regards financial recklessness and coruption, which got us here in the first place -- all in the face of diminishing revenue.

You can't build on the same swampy filth of the past if you want 'positive change'.

The likes of the leadership of the senate would only ensure "business as usual" . . . while obstructing most masses oriented steps.

That said, the new administration (federal) needs to find a way to put a kibosh to this economic slide, as people's lives and livelihoods are at stake.
The state and local goverments need to be more pro-active.

Leyemoshood:
The budget for the national assembly is just too much,lawmakers have to let go of their jumbo pay,it will boost the economy very well