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How Can We Save Nigeria Economy From Further Recession? - Business - Nairaland

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How Can We Save Nigeria Economy From Further Recession? by EscapadeNg(m): 12:04am On Jul 30, 2016
Nigerians are known to be very intelligent in all spheres of life through-out the world but yet our country surfers in the midst of plenty. Despite
the abundant human and non-human resources available. We all have cried out to President Buhari to at least provide a policy document on how to improve the economy but to my knowledge have not heard of a specific road map outlined by our President in terms of Economic Policy. Although, I completely agree that Nigerians are good at policy formulation but we fail at implementation stage. Hence, President Buhari need not to worry about formulating a new economic policy, all we need to do is to go back to past economic policies formulated. Particularly, to the NEEDs Strategy formulated during the regime of Olusegun Obasanjo and I believe the policy will align to the promises made by the APC political party during the last general elections.

Nigerians, let speak out our minds on this issue.

4 Likes

Re: How Can We Save Nigeria Economy From Further Recession? by xprezboy: 4:39am On Jul 30, 2016
it must start from you

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Re: How Can We Save Nigeria Economy From Further Recession? by Seened: 6:22am On Jul 30, 2016
The Nigerian economy is heavily dependent on crude oil sales. Price goes up the Nigerian state smiles to the bank. It crashes they panic. God knows the word 'diversification' has become a cliche in Nigerian economic discourse but it still remains the way to go.

An economy like Nigeria's mostly consumes mass goods that are imported. This needs to be gradually reversed. Nigeria needs to locally produce most of what she consumes.

EscapadeNg honestly I am more concerned about how the average middle class or poor Nigerian is adapting to this hard time. The elites albeit affected too can still meet their basic needs. What of the less fortunate?

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Re: How Can We Save Nigeria Economy From Further Recession? by Seened: 6:25am On Jul 30, 2016
xprezboy:
it must start from you

From us all Xprezboy. I know you have solution(s) or suggestions too. Please share them. It may really help. smiley

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Re: How Can We Save Nigeria Economy From Further Recession? by EscapadeNg(m): 7:25am On Jul 30, 2016
Nigerians are very creative, I trust we get through this hard times with ease. Agriculture is the only way out but I ask myself can plant cocoa today and harvest tomorrow, if not what will happen to a larger percentage of Nigerians who are living in abject poverty. Our government is sleeping... But I trust the NEEDS strategy if implemented will revive Nigeria Economy. I will share a summary of the strategy policy later today and as individuals, we can begin to implement some. I hope 1 Naira will truly equal to 1 dollar.

4 Likes 3 Shares

Re: How Can We Save Nigeria Economy From Further Recession? by Bonapart(m): 7:09am On Jul 31, 2016
You guys are now truly challenged by Osubande ordinary commissioner. During the time of Gej nobody came up with such because things where going smoothly that we even claim top spot in the economy. Enjoy your changes people. Next time Nigeria will never make such mistake.

57 Likes 2 Shares

Re: How Can We Save Nigeria Economy From Further Recession? by eleojo23: 7:09am On Jul 31, 2016
Here to read comments.

1 Like 1 Share

Re: How Can We Save Nigeria Economy From Further Recession? by LMAyedun(m): 7:10am On Jul 31, 2016
Op, Thanks for this...
Plsss! Let's help Buhari & Adeosun rescue our dying Economy.. They obviously don't know what to do anymore, they are so clueless cry

There is so much hardship & suffering in the land.

2019: Vote out the clueless one: Buhari

71 Likes 3 Shares

Re: How Can We Save Nigeria Economy From Further Recession? by omogin(f): 7:10am On Jul 31, 2016
Buhari should swallow his shame and stop TSA meanwhile. The economy needs all those monies hidden at the CBN to bubble back to life

33 Likes 3 Shares

Re: How Can We Save Nigeria Economy From Further Recession? by HighQue007: 7:11am On Jul 31, 2016
True
Re: How Can We Save Nigeria Economy From Further Recession? by Exponental(m): 7:11am On Jul 31, 2016
Government should start with functional and effective "Economic Team".

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Re: How Can We Save Nigeria Economy From Further Recession? by nefertitiram: 7:11am On Jul 31, 2016
If all of us can stop asking what the govt can do for us and do for ourselves.

D govt has failed us, yes, so won't we survive?

The economy is a theory. All of us should find ways to become self sufficient and attract income in foreign currency. Then our collective wealth will become the sovereign wealth.

The united states economy was built up by mom and pop businesses that have become empires. They don't have as much resources as we have so they looked inwards.

So it's time to shut up, stop complaining and act

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Re: How Can We Save Nigeria Economy From Further Recession? by Samexdx(m): 7:12am On Jul 31, 2016
You've answered the question already... We are good @ formulating a good policy but impleminting it is the problem here. We've got alot of nice policies in the past. if the policy makers should return to a drawing board, they will come out with a nice idea, but implementing it will be the problem here.
Another thing is to diversify, but i doubt this present administration are ready to work

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Re: How Can We Save Nigeria Economy From Further Recession? by Nobody: 7:12am On Jul 31, 2016
Just impeach that man

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Re: How Can We Save Nigeria Economy From Further Recession? by Akinz0126(m): 7:12am On Jul 31, 2016
It's another day again!Can you turn to your neighbour and say "neighbour smile Jesus loves You And its'll end in praise"

I love this bible passage very well micah 7:8 "Our enemies have no reason to gloat over Us .We have fallen,but we'll rise again.We are in darkness now,but the lord'll give us light"

It's the last sunday and the last day of the Month examine yourselves from jan1 till date you'll realize, God has been Great!

Happy Sunday peepz

7 Likes 1 Share

Re: How Can We Save Nigeria Economy From Further Recession? by EmekaBlue(m): 7:12am On Jul 31, 2016
Simply by first impeaching d stubborn dullard at d top then we set some right policies in place

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Re: How Can We Save Nigeria Economy From Further Recession? by eph12(m): 7:12am On Jul 31, 2016
Our government needs to do what united States government did years ago. Inject money into the private sector.

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Re: How Can We Save Nigeria Economy From Further Recession? by Nobody: 7:14am On Jul 31, 2016
All we do is talk, ours is that of black people with black brain. An unfortunate place to be born. Generations over and over hurting themselves. We see developed world, we hear stories, still we are poor. we thought it was old men, now young leaders are more corrupt. Simple rule we don't follow, we lack discipline in different aspect of life, our culture is backward, our destiny is gloomy, our leaders are devil.
APC promised heaven, now we are in shit, Buhari wasted time choosing ministers and making budget, now what. They floated Naira, then what. Rice is now 700 per Kongo . meanwhile those senators still seat and discuss irrelevant matter in the house. Bubu go still dey speak thrash.
There i s suffering in the land, Nairaland has not helped, the Mods keep posting trivial topics and seldomly talk about the state of the nation.


While we keep talking, know this: we are all responsible.

How many of Nigerians know there senator or rep, how many write and pressure him/her. how many actually knows what goes on in the house.

Let the government declare a state of emergency. The least we can do now is agric, we can't build plants or make roads, we have finished looting money spending it abroad. we black brain ill destiny humans.
Government should quickly make land available, link producers to consumers and help constrict processors and help in agric input.
we still dey import Jack.
Like I said, all na talk, na only talk Naija fit talk.
the citizen are so silent, abroad people protest over anything, here we love suffering, Naira keep crashing everybody dey speak grammar, meanwhile some others dey waste and loot money. Yeye ministry of agric no get any serious plan, na grazing land dey wan build.

People, make your opinion known, this government is thrashy and no need sympathising when suffering is in the land.
The youths supported the election of Buhari, it was everywhere, on the street talking, on twitter trends, on Nairaland, on Facebook etc.
Now those same people are no where. We don't fucking deserve this.

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Re: How Can We Save Nigeria Economy From Further Recession? by ofemigeorge(m): 7:14am On Jul 31, 2016
1.Entrepreneurs and skill gathering.
2.Practicalizing all we know.
3.Inferiority complex should be aborted. (Made in Nigeria)
4.For every end of every prayer,say GOD BLESS NIGERIA AND ALL THE PEOPLE WITHIN.
5.Encourage your struggling,hardworking brother(neighbor) and stop hating. So the good ones will not go into hidding.
6.Diversification ...stop coping and pasteing. Seek and work on something different.
7.The government should focus on the youth and listen to what they have to say. Finance their ideas. A nation without youthful ideas is dead for the future.
NEVER SAY NEVER anything is possible with unity.

5 Likes 2 Shares

Re: How Can We Save Nigeria Economy From Further Recession? by maximunimpact(m): 7:15am On Jul 31, 2016
Buhari’s Economic Policy Direction Heading Iran Way, See What It Can Mean

http://www.financialwatchngr.com/2016/07/30/buharis-economic-policy-direction-heading-iran-way-see-can-mean/

1 Like

Re: How Can We Save Nigeria Economy From Further Recession? by dunkem21(m): 7:15am On Jul 31, 2016
omogin:
Buhari should swallow his shame and stop TSA meanwhile. The economy needs all those monies hidden at the CBN to bubble back to life

You hit the bulls eye and if Buhari doesn't listen to you, we will sink deeper.

12 Likes

Re: How Can We Save Nigeria Economy From Further Recession? by dhardline(m): 7:16am On Jul 31, 2016
The major problem we still have is that we import so much more than we export. So it boils down to the government to encourage those who import this goods to try and manufacture them locally.Give them affordable land,0 interest loans,low tax rates etc just to help them build and stand firm,this way they will gladly prefer to produce locally as this in turn will creat more jobs but instead what do we get from the government! High and multiple taxes, ban ban ban, oppresion on all fronts. Infact we have a long way to go in this country.

The only business being encouraged now by this government is cattle rearing and we all cant be cattle herders.

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Re: How Can We Save Nigeria Economy From Further Recession? by ukomko: 7:17am On Jul 31, 2016
Please you may say I am a Biafran but no.
Nnamdi Kanu mentioned how the economy will suffer under Buhari a fulani man,but we laughed at him, made everything a joke.
Hey so you want you economy back?
Don't release him, but contact him in the prison, you will be marvelled at the stuff the guy is made of.

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Re: How Can We Save Nigeria Economy From Further Recession? by Ikwokrikwo: 7:17am On Jul 31, 2016
Kick the dullard called Buhari out first and all other things will follow.

17 Likes 1 Share

Re: How Can We Save Nigeria Economy From Further Recession? by edlion57(m): 7:17am On Jul 31, 2016
I'm not in support of kicking out the President but arresting him for stopping the progress good luck started..
This man is tooooo old for the system now...apc or pdp can't save us now... Let vote any good young candidate that is willing to come for debate during campaign..
Not by carrying brooms and umbrella ...like witches

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Re: How Can We Save Nigeria Economy From Further Recession? by kay29000(m): 7:18am On Jul 31, 2016
If we keep spending our Naira to get mostly foreign goods, and we export very little to other countries, there is no magic policy that can save the Nigerian economy. It is that simple. Don't let hate blind you from coming to this logical conclusion.

With that said...#BuyNigeriaGrowNigeria

11 Likes 1 Share

Re: How Can We Save Nigeria Economy From Further Recession? by TrollTrap: 7:18am On Jul 31, 2016
peak times boy
Re: How Can We Save Nigeria Economy From Further Recession? by amclimax(m): 7:18am On Jul 31, 2016
the only way to save the economy is to give buhari fly to any country free ticket so he can go on vacation with his family then replace him as president

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Re: How Can We Save Nigeria Economy From Further Recession? by Vello(m): 7:19am On Jul 31, 2016
omogin:
Buhari should swallow his shame and stop TSA meanwhile. The economy needs all those monies hidden at the CBN to bubble back to life
What is your standpoint that informs this submission?

3 Likes 2 Shares

Re: How Can We Save Nigeria Economy From Further Recession? by priceaction: 7:19am On Jul 31, 2016
Lol, but the problem is not really about adeosun or buhari. It is about how we got there in the first place
. no reserve for years to shock something like this. During yaradua era, about 20billion$ was used to shock something like this because it had about 60billon$ in foreign reserve then , so it was not felt on masses for long before the oil price turned. Now oil price refused to turn up with naijadelta wahala again.
We dare to do that when when this administration came to power with around $30billion left. It will only take like 6months before we turn to Greece way which will lead to massive inflation and economical problem. Then likely world Bank and IMF well take over your country.
I don't want to be partisan but this is as a results of accumulated problems from military era to PDP era. No serious commitment to change country for good. If they are stealing and able to invest back to the country, we will escape such a problem. If all the money stolen was able to invest in other infrastructures and natural resources exploration of the country, we will hav less problem to work with now. Even if another party takes over 2019, what assurance do you have that it will not worsen again.
Way to go:
How many made in Nigeria me and you have bought this year?
How many local manufacturers have u patronised this month?
Until light improves, local productions supercede imported products, especially in consumable goods, until our refineries are massive and can buy petrol or gas at next to nothing price, and also encourage giant drug manufacturers all over the world to site their factories here in Nigeria the better. Until our major roads are smoother than third mainland bridge all over country. Until we build more ,well equiped modern technical schools probably for each state/ region in lieu of so called glorified universities that produce unemployable youths so that all the works that foreigners take can go to the locals to reduce pressure on foreign reserve, until we have very improved cargo airports and train stations network across the country, then and then we will have better country, better jobs, facilities, long live and prosperity. Until States stop to depend on federal government and they can be 60% less dependent of fg I.e decentralized government so that they can come up with improved IGR.

You see this is not a day job at all. It takes only commitment, discipline government to do this. The question is do we have at least one now? Only time will tell.
LMAyedun:
Op, Thanks for this...
Plsss! Let's help Buhari & Adeosun rescue our dying Economy.. They obviously don't know what to do anymore, they are so clueless cry

There is so much hardship & suffering in the land.

2019: Vote out the clueless one: Buhari

9 Likes 2 Shares

Re: How Can We Save Nigeria Economy From Further Recession? by rawpadgin(m): 7:20am On Jul 31, 2016
like our suggestions matters to bubu cheesy

2 Likes

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