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Emefiele To Senate: Nigeria’s Economy In Deep Crisis - Politics (5) - Nairaland

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Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Deen77: 11:12pm On Jul 20, 2016
delawal:
first things first. the CBN governor should resign if he has ran out of ideas. I keep saying it the system of government we run is not sustainable especially in d front of the current economic downturn. we have been able to manage d system BC of d abundance we use to earn from oil. its now time to restructure and move forward or remain stagnant and sink

Ideas?, yes but first we have to save all this dollar spend on importation of petroleum daily is in billion my brother.

If we start to refine petroleum locally dollar scarcity will disappear.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by sharpk007(m): 11:16pm On Jul 20, 2016
14:


i told people in february that Nigeria will go through what venezuela went through and still goes through

venezuela = 95% revanue from oil

nigeria = 90% revanue frol oil

do the maths
wow we need a diversified economy right?
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by delawal: 11:46pm On Jul 20, 2016
Deen77:


Ideas?, yes but first we have to save all this dollar spend on importation of petroleum daily is in billion my brother.

If we start to refine petroleum locally dollar scarcity will disappear.
u re right. at times I ask myself what re d vision and mission of our dear leaders in govt. they lack vision and as such do not plans for anything substantial. a governor or president gets in after 1year he starts to think of re election. after being re elected he starts to border on who wil succeed him. all they know is how to squander and share resources caring less abt how to generate. a development template and abide by it. building of refinery is not a rocket science. even poorer countries without crude oil deposits have one. why can't we have a functional one. its BC d leaders re not interested. they want quick deals that will put money in their pockets before their tenure elapses and they plan well for that. in d light of the current revelations I marvel on how billions can be transferred into peoples account for less important things when we have lack of amenities staring at us. this is a turning point for Nigeria to rethink and turn away from d old ways.if we don't we will be doomed
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by obstead200(m): 3:36am On Jul 21, 2016
mrkayusfit:
The performance of this man has been woeful ever since he was unmeritedly picked by GEJ to replace emir sanusi. The economy is nosediving under his watch and all he has to offer are continuos excuses. I hope buhari sacks him asap and replace him with a competentNORTHERN Cbn governor
@ The bolded.
U don't really care about performance. the bolded is just what u meant to say
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Nobody: 5:11am On Jul 21, 2016
The basic problem is that Nigeria is a resource dependent society. Even now, we are thinking of solving our problem with more resource dependency(Price fluctuations happen in agriculture too....especially when everyone has surpluses due to improved farming methods).

In my opinion, APC should stop waiting for oil prices to rise again, and start the tough job of getting Nigeria into being an industrial nation by increased spending on industries and education, and less spending on everything else.

1 Like

Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Nobody: 5:14am On Jul 21, 2016
14:


i told people in february that Nigeria will go through what venezuela went through and still goes through

venezuela = 95% revanue from oil

nigeria = 90% revanue frol oil

do the maths

Venezuela

1.Is more import dependent than Nigeria.(They import most of their toilet roll, for example. Not seen in Nigeria.).

2.Much of their farming is run by the government....which means inefficiency and which leads to low production.(Nigerian farming is still done by private hands mostly).

3.Venezuelan oil is more difficult to extract and refine than Nigerian oil....so they pay more in production costs.

4.Venezuela still pays billions in subsidies.

2 Likes

Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Nobody: 5:34am On Jul 21, 2016
mrkayusfit:
The performance of this man has been woeful ever since he was unmeritedly picked by GEJ to replace emir sanusi. The economy is nosediving under his watch and all he has to offer are continuos excuses. I hope buhari sacks him asap and replace him with a competent Cbn governor

AND THE BLAME GAME CONTINUES- woe betides whoever that did this to you all!
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Nobody: 5:36am On Jul 21, 2016
gboss4sure:
[s][/s]

APC sycophants will always find a way to blame GEJ for the woes brought upon this country as a result of the dullard from daura decisions and indecision.

The sad part of it all is that they are so SHAMELESS
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Nobody: 5:42am On Jul 21, 2016
afonomics:


Hello madam,

Where did you get all ds facts from?

Are you the DG of National Bureau os Statistics?

Bikonu give us facts and figures...

The facts and figures you seek for are in your wallet and if your wallet is increasing with the current hardship going on in Nigeria then you are a part of the presidency/ problem therefore you are immune to the realities on ground.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by prstge007: 8:05am On Jul 21, 2016
greatgod2012:
We're already feeling it very well, we don't need to be told that.


How worse can it be, economy is already in deep mess, critical crisis on the increase.


People now exchange kids for food.

Children are now withdrawn from private schools to public schools.

Unemployment on the increase on daily basis.
Consumer goods are no longer affordable.

Our GDP has entered negative.

In fact, it's worrisome.
we as Nigerians are very good in analysis but we most times fail to analyse the way out. To most of us reccession is just an english word by the time we get it by what exactly it means because to me this is just a flashing even the so call politician will have to bring out all they have swallow in the name of corruption. Inflation is on the increase yet senators salary and allowances have yet been deducted or reduced. Then no Nigerian as stand up to ask what exactly the legislatives are doing to help the situation. I just hope we run for a cushion effect before things get worst. Emiefele is crying out loud now but the noise couldnt let masses hear him, by the time things get out of control which I pray it doesnt get to that, seriously ask Greece despite its perfect system, was unable to hold on.
God help Nigeria
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by TruthisOut: 8:06am On Jul 21, 2016
Deen77:


They are failure, which minister. Okonjo waste all the opportunity. I have Twitter to channel to bring her live to face Nigeria.

See our survival resources below by economist from the a german bank, Nigeria is zero reserved.

APC e-warrior detected! A zomboss! Respect!
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by misterawo: 8:25am On Jul 21, 2016
It's been long I resolved never to publicly denigrate my tribe or people, no matter what. Never. Igbo people are still the only people who publicly disparage their own to sound 'objective', 'balanced', 'civilised', 'activistic', and like 'something else'. Those who habitually do this hope to carry favour from and win popularity with other tribes who, inwardly and genuinely, see them as losers. And this attitude has never helped any of the grovellers. They always come home, old, crying and full of 'lessons'.
My own pledge!

Culled from David Okoroafor FB wall.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Themandator: 8:30am On Jul 21, 2016
mrkayusfit:
The performance of this man has been woeful ever since he was unmeritedly picked by GEJ to replace emir sanusi. The economy is nosediving under his watch and all he has to offer are continuos excuses. I hope buhari sacks him asap and replace him with a competent Cbn governor


You are blaming the wrong person for the disaster that is our economy, today.

CBN is responsible for monetary policies and can ọnly go as far as the President understand their functions and this Buhari doesn't come across as one with in depth knowledge of the functions of the CBN and still doesn't have a team that is independent minded enough to speak truth to power

1 Like

Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by sarutobie(m): 8:39am On Jul 21, 2016
Themandator:



You are blaming the wrong person for the disaster that is our economy, today.

CBN is responsible for monetary policies and can ọnly go as far as the President understand their functions and this Buhari doesn't come across as one with in depth knowledge of the functions of the CBN and still doesn't have a team that is independent minded enough to speak truth to power
you honestly think a zombie can differentiate between fiscal and monetary policies? I laugh..
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by stonemasonn: 8:57am On Jul 21, 2016
Dangote's oil refinery and fertilizer plant seems to be the only hope the APC has for a bit of economic stability.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by omoharry(f): 10:26am On Jul 21, 2016
aaronson:
Me I already knew Nigeria already slipped into recession since the close of the first quarter. But my question is

What's the minister of finance doing?

Part of her job is fore seeing this recession , I remember back then when Ngozi Okonjo-Iweala usually warn the nation about what's bound to happen if measures aren't taken or adhered to. This current one is just so nonchallant leaving the job only to the CBN Governor.

When CBN reversed the policy of Dollar, I knew something was wrong somewhere and they were just trying to apply a shock therapy. Now, Its glaring that the naira has be devaluated and further inflation might make the country slip into total recession. Then we would start to dance to the tune of the IMF as they patiently waiting for us to approach them.

I guess the best thing to do is to cut down on salaries and other public expenditure for the now as the CBN governor said and ban some irrelevant importation to force product and and patronage of our local made Products before we start thinking of diversification.

Lastly, The current finance minister should be SACKED.

I concur
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by awayeyebundle: 10:45am On Jul 21, 2016
Buhari is confused man should seek God and ask for forgiveness of sin for his sin.He has touched the untouchable one....he want to claim that he did not hear when the woman preaching was stoned to death abi or church was burned down by extremist islamist in this country without commending on that.Shame to him and his govt.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by glossy6(f): 10:45am On Jul 21, 2016
mrkayusfit:
The performance of this man has been woeful ever since he was unmeritedly picked by GEJ to replace emir sanusi. The economy is nosediving under his watch and all he has to offer are continuos excuses. I hope buhari sacks him asap and replace him with a competent Cbn governor

Zombies will never face realities. Tell us any economic reform the fantastically corrupt man has come up with. Yes, let him remove Emefiele and replace him with a Northerner or a Daura man. mtchewww
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by smirn(m): 11:09am On Jul 21, 2016
Emmaoga:


keep blaming GEJ till 2023.
zombie grade 12 spotted.
16 years mismanagement cannot just be corrected overnight. I appreciate the CBN position of making us know the true present state of the economy unlike the previous government who claimed the country was not broke even with clear evidence of increased in externanal debt, depreciated foreign reserve, over 21 states could not pay workers salary, subsidy debt of over N600b just to mention but a few. For the good for nothing Senator, what is stopping the Senate to make laws to reflate the economy and improve it? The NA assembly is a part of the federal government and not just the executive alone. As evidently expressed by the CBN governor we are into all this as a result if global economic challenges couple with drop in price of crude from over $110 to about $40 per barrel. The senator has seen it that Nigeria is not on this alone and with the policies on ground things will get better.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by smirn(m): 11:14am On Jul 21, 2016
ehijoe:
Upon all the Presidential trips to foreign countries, promising to bring d best to change Nigeria, everything now ends on Emefiele's table. APC will never stop apportioning blames, creating excuses for their failures. Thank God the Zombies are also feeling the hardship. Their pattern is now sit down and LOOK.
Until we get the solution and set the nation on a right path, those PDP who endangered the nation will continue to be blamed.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Themandator: 10:28am On Jul 22, 2016
400billionman:


Booharry does not like performers. He prefers mediocres.

Because the only two bankers i know that can save the Nigerian economy from this current recession are TONY ELUMELU and JIM OVIA.

These two men can create something out of nothing.

I keep laughing at the APC when they scream economic diversification while they havent done any tangible thing with agriculture..

The current man is a creation of Ovia... Anything Ovia can do this guy can do.. He reports and gets his input from his boss as much as he reports to Buhari.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Realist2: 7:50am On Jul 23, 2016
afonomics:


Hello madam,

Where did you get all ds facts from?

Are you the DG of National Bureau os Statistics?

Bikonu give us facts and figures...

I give it to you that you're typing from Ethiopia's mountain, not in Nigeria.
Re: Emefiele To Senate: Nigeria’s Economy In Deep Crisis by Nobody: 8:15am On Jul 23, 2016
redroom:
And wot is the fake accent finance minister doing??
It's not fake na. That's her accent probably she didn't stay in Nigeria

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