According to the National Leader of the All Progressives Congress (APC), Bola Tinubu, Nigeria’s economy has ‘collided into a merciless and immovable wall’.
Tinubu made the remark on Thursday, December 17, 2015, via a statement released by his media office.
The statement reads in part:
“For decades, Nigeria danced in close confines with economic disaster. In the past, higher oil prices allowed us to dodge the worst.”
“We have survived but not thrived. Improvised but not planned. Spent but not invested. Laughed, drank and feasted but did not build, construct or maintain.”
“Now, Nigeria has collided into a wall, merciless and immovable. The present downturn in oil prices may be more than just a transient slump in the business cycle.”
“Nigeria needs economic liberation. Before we can free our economy, we must free ourselves of the economic myths consigning us to our current predicament.”
Tinubu’s statement comes at a time when the Naira is selling at 280 to the dollar and 405 to the pound.
Meanwhile, the Minister of State for Petroleum Resources, Ibe Kachikwu has said that the country can no longer afford to fund its oil and gas sector.

http://pulse.ng/local/tinubu-nigeria-s-economy-is-in-serious-trouble-apc-leader-says-id4478027.html

It is no rocket science. If at oil selling for $108 we could effectively swell our recurrent bills like salaries, allowances, maintenance, feeding, fueling etc to 70 percent (I.e 70% of our average $70/Barrel economic benchmark during final PDP years which is equals $49) how is the Buhari led APC govt. even able to pay same recurrent bill from a $30-something ($38 precisely) oil earning?
The obvious here that APC is already defying economic doom prophecy from the last few day of PDP led FG. PDP should be ashamed.
If Nigeria had embarked on careful construction of larger refineries that is favored by economy of scale reality of oil refining I.e larger refinery help bring average refining cost down significantly, then by now we would be the most competitive refiner of oil and wouldn't be in this tight corner where it cost more to refine a barrel than buy one. Look at the Dasuki figure alone. That could have built us 'The Matrix' standard refineries.

Sibrah:
It is no rocket science. If at oil selling for $108 we could effectively swell our recurrent bills like salaries, allowances, maintenance, feeding, fueling etc to 70 percent (I.e 70% of our average $70/Barrel economic benchmark during final PDP years which is equals $49) how is the Buhari led APC govt. even able to pay same recurrent bill from a $30-something ($38 precisely) oil earning?
The obvious here that APC is already defying economic doom prophecy from the last few day of PDP led FG. PDP should be ashamed.
If Nigeria had embarked on careful construction of larger refineries that is favored by economy of scale reality of oil refining I.e larger refinery help bring average refining cost down significantly, then by now we would be the most competitive refiner of oil and wouldn't be in this tight corner where it cost more to refine a barrel than buy one. Look at the Dasuki figure alone. That could have built us 'The Matrix' standard refineries.

u called my name sire...

So?

STOP complaining, just fix it.
Obama didnt complain, he looked for and found ways out

fistonati:
STOP complaining, just fix it. Obama didnt complain, he looked for and found ways out

Just as the past president fix it

fistonati:
STOP complaining, just fix it.
Obama didnt complain, he looked for and found ways out

The problem is, there is no way to Fix it !

spinola:


The problem is, there is no way to Fix it !

So you voted them to be mere figure heads or what ? . . . . . . . If they are too dumb and confused in handling the current situation, then resignation is in order . . . . .

If the kitchen is too hot, the APC led govt should get out and allow someone adept, to fix things.

NavierStokes:
If the kitchen is too hot, the APC led govt should get out and allow someone adept, to fix things.

You can imagine the lousy party and her supporters . . . . .

refiner:

u called my name sire...

Hmmm, wonders shall never end, refiner, what about fuel price?

captainflash:
Hmmm, wonders shall never end, refiner, what about fuel price?

hehheheh...dats d name of my sister...

jmaine:


You can imagine the lousy party and her supporters . . . . .

Don't mind these two faced worshippers of Janus, 2 faced individuals with 2 pieces of mouth for speaking from opposing and contradictory viewpoints.

phemmie06:

Just as the past president fix it

Please come again oo, hope this statement you made is a joke?

refiner:

hehheheh...dats d name of my sister...

captainflash:
Please come again oo, hope this statement you made is a joke?

Lol

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