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Nigeria Economic Crisis Worsens - BBC - Politics (5) - Nairaland

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Re: Nigeria Economic Crisis Worsens - BBC by Trailblazer1(m): 10:38am On Jan 12, 2016
refreshrate:


See ehn God bless you beyond your imaginations in all ramifications! You will sit amongst kings and princes, your children and childrens children will call you blessed. *I say this prayer with every iota of faith in me!*

Once again God bless you!

AMEN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

grin grin grin grin
Re: Nigeria Economic Crisis Worsens - BBC by Abudu2000(m): 10:40am On Jan 12, 2016
thank god I did not vote,I only encourage the voters to select slow baba...
Re: Nigeria Economic Crisis Worsens - BBC by Nobody: 10:57am On Jan 12, 2016
Kindly name the "foreign investors" that "ran"....

luvinhubby:
Most economic indices was pointing upwards for Nigeria until Buhari started making comments in the foreign press like "Nigeria is broke" & "Nigerians are corrupt" & since then every foreign investor ran.
Re: Nigeria Economic Crisis Worsens - BBC by Happiness87(f): 10:58am On Jan 12, 2016
SLIDEwaxie:
This BBC is one stupid news platform.

Where is the worsening economy?

Did the govt say they cannot pay salaries or cannot fund the budget?

This long sighted govt already said the oul won't be a factor. We are finding thru tax and internal revenue from govt agencies. If customers cld make 0.98 trillion in 9months, then we have no problem.

Whenever oil dwindles, the yeye BBC will hit on Nigeria. Dem send u come?

Abi ko fe daa fun yin ni ke?
chai see, illiterate, ask buhari when he paid December salaries,

why is he borrowing over 1trillion to fund 2016 budget and why IMF came last week,

you are really a foolish boy, blind follower
Re: Nigeria Economic Crisis Worsens - BBC by Nobody: 10:59am On Jan 12, 2016
They shouted:
We will not remove fuel subsidy
But when reality dawn, they cunningly removed it and called it price modulation.

They shouted:
We will not devalue the Naira
But they cunningly devalued it yesterday

The Wise men are keeping quite less they are called wailers
The powerful ones are afraid because they have eaten yams.

The poor and the fools are claping praising the Messiah who claimed to know all

He mean't well, but he is limited

Alas He brouht in more goats to manage our remaining yams.


But tommorow we will all wake up and realise there is no single yams to eat

Because we spent all our time going after the goats that stole our yams and will forget to plant more yams

Let the fools continue to clap untill hunger remove the strenght in their hands

3 Likes 1 Share

Re: Nigeria Economic Crisis Worsens - BBC by chernest2002: 11:01am On Jan 12, 2016
What do you expect when you voted an illiterate in to power? I knew it will be like this, in fact this is just the beginning. But I pray my God will shorten the suffering for Nigeria. Proudly 5 %.

1 Like

Re: Nigeria Economic Crisis Worsens - BBC by maestroferddi: 11:04am On Jan 12, 2016
What do you expect from a country where most of the citizens are incurably gullible.

One would have expected Nigerians to have learned from what happened to Jonathan why it is inadvisable to engage in the worship and praise-singing of leaders.

Instead, the worship of Buhari has gone beyond what anybody has seen before in Nigeria. Nigerians are embracing another form of madness and yet they would be ones rushing to churches and mosques tomorrow when the consequences of their actions begin to bite.

Buhari is not infallible: infact he is infinitely far from being so.

Influential and well-meaning Nigerians must rise up and call Buhari to order before he makes Nigeria another Greece.
Re: Nigeria Economic Crisis Worsens - BBC by Myself2(m): 11:21am On Jan 12, 2016
Descartes:
Kemi Adeosun is an incompetent finance minister, an amateur at that who has no business being in Finance house. She just got it based on quota system credentials.

I agree
Re: Nigeria Economic Crisis Worsens - BBC by Myself2(m): 11:27am On Jan 12, 2016
STARGREEN:
Sure things are going down but with time it will get better.


How ??

Misplaced faith is bunkum and does not yield any result.

Even the Bible that advocates faith also says that faith without works is DEAD
Re: Nigeria Economic Crisis Worsens - BBC by 9jatatafo(m): 11:29am On Jan 12, 2016
mrmetoo1:


LMAO... have you been living under a rock? Are they not being arrested? Are all of them not confessing to stealing, sorry, collecting money? Is it Punch that told Metuh to say he collected N400m from GEJ for "undisclosed" reasons? Is it The Guardian that told Dokpesi to admit he connected N2.1bn from Dasuki? Is it Vanguard that told Dasuki to confess he was acting on orders from above? Stop this self denial and see what's going on around you

I am a cave man. I don't just believe all these figures being mentioned both by PDP and APC
Re: Nigeria Economic Crisis Worsens - BBC by mrmetoo1: 11:33am On Jan 12, 2016
9jatatafo:


I am a cave man. I don't just believe all these figures being mentioned both by PDP and APC

Toh! If you don't believe those that are confessing then nothing more to say
Re: Nigeria Economic Crisis Worsens - BBC by 49cents(m): 11:37am On Jan 12, 2016
SLIDEwaxie:
This BBC is one stupid news platform.

Where is the worsening economy?

Did the govt say they cannot pay salaries or cannot fund the budget?

This long sighted govt already said the oul won't be a factor. We are finding thru tax and internal revenue from govt agencies. If customers cld make 0.98 trillion in 9months, then we have no problem.

Whenever oil dwindles, the yeye BBC will hit on Nigeria. Dem send u come?

Abi ko fe daa fun yin ni ke?

This one still dey chop "mama thank you"
Re: Nigeria Economic Crisis Worsens - BBC by Myself2(m): 11:38am On Jan 12, 2016
luvinhubby:
Incompetent economic management occassioned by shallow minded politicians who will rather want to be seen as welfarists than anything else.

First step should have been, raise VAT to between 7.5 - 10% & reduce govt. borrowing but hell no, they will borrow N2 trillion & spend 70% of it on recurrent expenses added to the extra N1 trillion of last half of 2015 & a projected N1 trillion from further collapse of oil price coupled with the unrealistic N1.2 trillion projected non-oil exports in 2016 which will further drive up our budget deficit to around N4 trillion in the next 10 months.

At this pace, Nigeria will spending 40-45% of our annual earnings 3yrs from now servicing debts.

How did we get here? sad

APC should not destroy Nigeria biko.

What do you expect from a president that sees no need for sound and well grounded ministers to formulate and drive his policies.He'd rather see them as noise makers.
He's busy gallivanting the globe,embarrassing Nigeria at the slightest chance that he is asked a question that requires simple head knowledge of current affairs.
Re: Nigeria Economic Crisis Worsens - BBC by 9jatatafo(m): 11:43am On Jan 12, 2016
mrmetoo1:


Toh! If you don't believe those that are confessing then nothing more to say

The figures are crazy and scary and out of this world. They call themselves the people's stewards but they are richer than business men. We are all happy now about the Dasuki revelation, just wait and see what further revelations will come when APC and PMB is out of office. I don't believe any Nigerian Politician. No saint!!!
Re: Nigeria Economic Crisis Worsens - BBC by myopinion2011: 11:43am On Jan 12, 2016
AyoolaIgwe:

lolzzzzz...restriction of dollar sales is like taking a painkiller for tooth ache. It is a temporary solution.
>>by REAL production u mean?
>>where will d raw materials for production come from? If dey will come from abroad, wot is d standard unit of currency in d international market with which d materials will be bought?
the REAL production start from production of raw materials which is basically FARMING.

1 Like

Re: Nigeria Economic Crisis Worsens - BBC by Atlantian: 12:04pm On Jan 12, 2016
Hahahahahaha. I knew that in the 21st century, it was not possible for a populist cattle-rearer without SSCE to manage an animal farm needless to say an national economy, yet the illiterate majority voted him in. He spent 6 months running the country as a dictator and finally settled for an unknown as Economic Minister.
Re: Nigeria Economic Crisis Worsens - BBC by awoluyi(m): 12:04pm On Jan 12, 2016
luvinhubby:
Most economic indices was pointing upwards for Nigeria until Buhari started making comments in the foreign press like "Nigeria is broke" & "Nigerians are corrupt" & since then every foreign investor ran.
. Are these comments responsible for the fall in crude oil price? No economic transformation when oil was selling for $140/barrel. We have not been blessed with visionary leaders right from 1960. I want to believe that there is something foundamentally wrong with the foundation on which Nigeria is built. You don't need to be a prophet before predicting that much might not be achieved at the end of PMB's government. Why? We are not united in defining what type of nation we want Nigeria to be. No definiteness of purpose. The leaders and the leds are in total confusion. Everything jagajaga!
Re: Nigeria Economic Crisis Worsens - BBC by Trailblazer1(m): 12:06pm On Jan 12, 2016
SLIDEwaxie:
****I have never in my life listened to BBC. Take it or leave it!

Ibcan even count the numbers of times I watched CNN because of their bad portray of the African continent except south Africa. So, before u start talking out of senses, roll back!
cc: mynd 44
rule 2
Re: Nigeria Economic Crisis Worsens - BBC by Mendelssohn(m): 12:24pm On Jan 12, 2016
Most of the comments on this thread have posed an indisputable attestation to an inalienable fact that most of those from whom the comments evolved are self indulgently dull and it might just take forever for them to be learned enough to argue constructively. If truly an economy is dwindling, is it an instant consequential effect of mismanagement of public resources or an insidious evolution of economic collapse, sequel to bad economic planning by successive governments that have failed to have uncannily prescient premonition about this undesirable economic trend? If at all we must make comments, why not let it have some traces of education and exposure, other than making comments like "PMB should resign honourably" or "na una want change" and others that are equally devoid of fashionable substance. The crash in oil prices which is a major causative agent of this quagmire is a global phenomenon and not restricted to Nigeria. Even the oil-rich Saudi Arabia and others are experiencing same, if not worse. So what's the relationship between Buhari and fall in global market oil prices? The moment we cannot talk or reason without beclouding our sensitive perceptions by political, tribal, religious and sectional sentiments, then it's better to sit back and watch others.
Re: Nigeria Economic Crisis Worsens - BBC by Nobody: 12:33pm On Jan 12, 2016
luvinhubby:
Incompetent economic management occassioned by shallow minded politicians who will rather want to be seen as welfarists than anything else.

First step should have been, raise VAT to between 7.5 - 10% & reduce govt. borrowing but hell no, they will borrow N2 trillion & spend 70% of it on recurrent expenses added to the extra N1 trillion of last half of 2015 & a projected N1 trillion from further collapse of oil price coupled with the unrealistic N1.2 trillion projected non-oil exports in 2016 which will further drive up our budget deficit to around N4 trillion in the next 10 months.

At this pace, Nigeria will spending 40-45% of our annual earnings 3yrs from now servicing debts.

How did we get here? sad

APC should not destroy Nigeria biko.

How do you justify raising VAT or any form of tax when revenues have fallen drastically, where are the taxable people going to get money for taxes.

Remember the canons of taxation which says tax should be fair and reflect economic realities.

Government should reduce its expenditure period. No more excessive allowance for mint cars and foreign trips by govt officials and senators.
Govt should widen the tax bracket by taxing political officers holders the era of tax exemptions and import duty waivers should end.

You need to see how much is lost in terms of govt revenue by way of import duty waivers , we should buy made in nigeria goods, the countries that we import from dont buy our yams or palmoil, now they dont want our crude, its time for a radical rethink to address our pressing problems.

The Era of nigeria get money is no more.
Re: Nigeria Economic Crisis Worsens - BBC by meccuno: 12:45pm On Jan 12, 2016
lovings:
This is what happens when uninformed people supported angry politicians whose only aim were to grab power and not to fix things. Politicians who know nothing about creating wealth and fixing the economy. When oil price is gowning down, Mr buhari wants to spend billions on a useless oil search and exploration in the north when he could have channeled that money towards development of solid mineral industry, mechanized agriculture and manufacturing which are more sustainable and would keep Nigeria economy afloat.

If he spends less time on propaganda and more time on fixing the economy, then things will get better

but the same APC blamed this problem On the past admin....
Re: Nigeria Economic Crisis Worsens - BBC by don4real18(m): 12:50pm On Jan 12, 2016
BBC is making this report because Nigeria has restricted dollars which will affect America a bit
Re: Nigeria Economic Crisis Worsens - BBC by InvertedHammer: 1:16pm On Jan 12, 2016
luvinhubby:
Incompetent economic management occassioned by shallow minded politicians who will rather want to be seen as welfarists than anything else.

First step should have been, raise VAT to between 7.5 - 10% & reduce govt. borrowing but hell no, they will borrow N2 trillion & spend 70% of it on recurrent expenses added to the extra N1 trillion of last half of 2015 & a projected N1 trillion from further collapse of oil price coupled with the unrealistic N1.2 trillion projected non-oil exports in 2016 which will further drive up our budget deficit to around N4 trillion in the next 10 months.

At this pace, Nigeria will spending 40-45% of our annual earnings 3yrs from now servicing debts.

How did we get here? sad

APC should not destroy Nigeria biko.
/
You analyzed the symptoms but not problem.

Developed nations rely on circulation of money within the system to oil the economy. US for instance, encourages spending and less savings.

But when a few individuals hoard cash as seen in Dasukigate and wire the funds outside the country, the economy becomes stagnant. Borrowing is never the problem; every government borrows. The problem is that a good portion of the fund will be looted with impunity, zero accountability and nonexistent repercussions.

VAT, loans, recurrent expenditures, etc are only variables in the equation.
/

1 Like

Re: Nigeria Economic Crisis Worsens - BBC by mrmetoo1: 1:23pm On Jan 12, 2016
9jatatafo:


The figures are crazy and scary and out of this world. They call themselves the people's stewards but they are richer than business men. We are all happy now about the Dasuki revelation, just wait and see what further revelations will come when APC and PMB is out of office. I don't believe any Nigerian Politician. No saint!!!

I don't believe Nigerian politicians either.
Re: Nigeria Economic Crisis Worsens - BBC by Whylagos: 1:33pm On Jan 12, 2016
They are busy entertaining us with #Dasukigate while the economy is dying
Re: Nigeria Economic Crisis Worsens - BBC by Comsol: 1:36pm On Jan 12, 2016
We are fighting corruption. Thank you BBC grin grin grin
Re: Nigeria Economic Crisis Worsens - BBC by cheruv: 1:45pm On Jan 12, 2016
Trailblazer1:


grin grin grin grin grin

This is the same BBC that Buhari only speaks through to Nigerians

You only listen to BBC when buhari speaks, but after that you turn deaf undecided

Kontinu, your hypocrisy will soon be advertised on Aljazeerah
gringringringringringringringrin
Re: Nigeria Economic Crisis Worsens - BBC by cheruv: 1:50pm On Jan 12, 2016
omenka:
Just look at them. Don't you feel sorry for them?? All day they were in hiding because good news flooded everywhere, but now bbc has given them a hint of "bad news", suddenly you see them popping out from everywhere like vampires after sunset. cheesy

Everything they've said boils down to the price of oil and how it is affecting us, even the report says so. Had their lord and saviour, the Clueless One, done what he was supposed to do with all we made from crude sales during his admin when oil sold mostly over $100pb, instead of stealing everything in sight, perhaps the need for this news wouldn't have arisen.

But hell, what do we expect? Good or bad news, they are programmed to wail and curse the president simply because they HATE him and hate that he defeated their god.

I hope and pray you fellas cry for seven more years. You aint seen nothing yet.
Seun,
I think hypocrisy clause should be inserted into either rule 2 or 3 so that posters like this friend am quoting would be banned for hypocrisy undecided

1 Like

Re: Nigeria Economic Crisis Worsens - BBC by Nobody: 2:05pm On Jan 12, 2016
I think I love this. Nigerians, including the rich men will be able to sit tight and go back to farming. Western Nigeria! Where thou mind had gone. You have forgotten Nigeria is rich when you are producing cocoa. Northerners, what happened to your Kano groundnut pyramid? South South, you are rich in oil palm. We suddenly forget our sources when oil comes. Any river that forgets it source will surely dry one day. "Nigerians e ronu o'' (Nigerians should think deep).
Re: Nigeria Economic Crisis Worsens - BBC by Nobody: 2:19pm On Jan 12, 2016
Well, the fact is we are in this pot of hot water because since independence....we havemade two mistakes.

1.We have been resource dependent.

2.We have refused to develop industries based on our raw materials.

This is the task for this government.....deal with these two issues....and while we may not see any benefits now....we would start seeing them in the next twenty years.

And it begins with fixing the lights.
Re: Nigeria Economic Crisis Worsens - BBC by dangermouse(m): 2:32pm On Jan 12, 2016
oduastates:
What did you do with the money when oil prices were high?
Nothing?
Only remittance from the diaspora is saving Nigeria right now. You can shout transformation agenda as much as you can, Nigeria clock has been turned back by Jonathan and Iweala straight back to 1982.


sometimes we are just too sentimental to reason clearly and tackle issues right.APC is now the leading party, no more the opposition party they were before and yet the keep ruling like they are still the opposition party.my advice to all well meaning Nigerians is to forget about the past,reflect on today and make positive plans for the future.Blindly Supporting a bad government policy is not going to help us.what any government in power needs at all time is a constructive criticism. you and I owe them that duty and so doing makes them sit up.

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