#WE ARE ALL ECONOMIST!

It's not all doctors are real doctors, there are doctors by practice while some is by tittle, likewise Either by theory or by practice we are all economists. If by chance you're not a commissioner or minister of finance that's analysing for federal or state government, still you're a commissioner minister of finance in your home at the household level.
Take it from me our economy is neither experiencing inflation nor recession because according to Thomas Philips in his curve popularly known as Philips curve stated that there's inverse relationship between inflation rate and unemployment rate which means that when there is high inflation rate there would be decrease in unemployment rate but in the case of Nigeria we are experiencing both at the same time thus makes me disagree that this is not pure inflation rather it's not recession because recession simply means there would be very low or zero economic activities but in the case of my country as the economy grows harder the transaction activities doubles which also against the normal recession so I called Nigerian economy abnormal one which never conform with the economy theories.

#Do you know that?
(1) Obasanjo's administration earned ‪#‎17trn‬ from crude oil sales within eight years and left behind 45bn dollars external reserves and 3.348bn dollars external debt.
(2) Yaradua grew the reserves to 64bn dollars within just one year and the administration was able to finance 15 months of imports despite the 2008/2009 world economic meltdown. Hence, Nigeria survived the melt down because of the political will by the administration to save(a great achievement by Yaradua which most Nigerians are not aware of). Despite the tough economic reality at that time, Yaradua left 47.7bn dollars in reserves and an external debt of 3.94bn dollars. Meanwhile, the administration earned only ‪#‎9trn‬ from crude oil sales within that short period.
(3) Jonathan administration witnessed an oil boom when Brent crude sold for over 100 dollars/barrel, with the regime earning ‪#‎51trn‬ within a period of 5years. But because of corruption, the administration did not only squander the oil revenue but even depleted the reserves left by Yaradua, leaving just 32bn dollars and a huge external debt of 63bn dollars
(4) For Buhari, the same Brent crude sold for as low as 35 dollars/barrel at a point shortly after Buhari took over power and had only managed to climb to about 48 dollars just recently.
These are facts that can be verified. So, it's amazing hearing people criticize Buhari for the hunger in the land.
According to Fashola, Buhari's administration inherited 206 uncompleted road projects and contract arrears worth #2.1trn from Jonathan; and for about 2 to 3 years the contractors where not paid. This slowed down the economic activities, with most of the companies laying off their staff. This was when the seed of recession was sowed.
#It's obvious that Buhari came in to rescue Nigeria, because if Jonathan had continued in power, the nation's economic crisis would have been worse, perhaps even the Federal government wouldn't have been able to pay salaries of civil servants by now.

According to Okonjo Iweala, Nigeria started borrowing money to pay salaries since October, 2014; but today Nigeria now borrow money for investment in capital projects.
So It's unjust to believe that a family that's earnings #40,000 monthly could put the same food on the table for her children and send their children to the same school with the family that's earnings #148,000, I think the gap is too wide. So also a government that its earnings a huge amount, high foreign reserve and without debt burden can never be compared with the less privilege one, with high debt, zero foreign reserve and low earnings .
Every player is skilful and talented when belongs to a best team while everyone is a failure even if you're skillful than C Ronaldo once you belong to a flop team that's why you can not compare Okocha with Kanu.
When we want to measure the economy that's moving there so many factors that must be taking in to consideration such as
(1)The level of revenue,
(2) The level of both internal and external debt,
(3)The size of foreign reserve,
(4)the value of local currency and the last but not the least
(5)the consumer behaviour.
why because all these have what we called causal effect and it would go a long way to determine the state of the economy of a nation.
If we should look at Nigerian economic generally right from 1960 till date, the only period we have a stable, balance and best economy is during Abacha's regime mind you I'm not talking of corruption matter but economy matter , so what policy of economy did he used then through my thorough research I discovered that what he used was closed economy which is exactly what we need now as a means to get out of this economic mess,
#At household level
Focus on things that are within your control and neglect things that are beyond your control. Foreign exchange, price of petrol, inflation rate, price of rice etc are beyond you because you are not the world bank, IMF, central bank NNPC, PPMC, and the federal government. However, you are you, who can control the quantity of rice you eat, the volume of petrol you use, the bottles of soft drink you consume, the type of apparel you use, and as host of other things that are within your control. Be who you are, do not be a copy of another. The economy may be bad but do not drive yourself to depression. Stop catching up with the others.
#At aggregate level
our government should close our borders, sea port, and airport for either short, medium or long run which would be 2 years, 3 years and 4 years respectively in other to make sure that we Nigerians buy made in Nigeria goods and services to grow our Naira and our economy in other to weaken the Dollar.

Those who criticising Buhari for the economic hardship doing so for their hatred

The truth hurts that's why all this Wailers are hurting

Noted.

1983 people suffered! 2015 suffering continue....Haba buhari!

Okay.
What state..was the economy pre 99..
How much did Obj inherited from our reserve and what's the debt profile..
Did Baba complain? Yet he paid out foreign debt and got same cancelled..
Or you think nigeria don't make money every minute aside corruption?
Yes we're in recession..but we did vote Bubu to do his magic..not to tell us what we already know..and stylishly term us wailers
Or you've not observe to many policy somersault of this administration..
What do you call forex exchange for haji..refusing same for manufacturers and biz community and we say the last administration started it..y don't this one stop it..
Bros the suffer is real..don't think 1984 and now is coincidence..
Believe me this Bubu formation is not working for now and can't guarantee tomorrow..
A Lot things gone wrong..
Bubu should. Change formation..believe there a lot of ideas and thinkers..
But If only our Bubu go hear...

Who is the President if I don't criticize buhari who am I to criticize ??.

Bla Bla Bla. .another blame game thread by a zombie

The blunt truth u av just spoken Op.

A whooping 50+ trillion naira. It's a way much for Nigeria to still remain in this mess.

pay per post zombie pipul don show.
all i know is dat during GEJ era, pipul were not buying 1 bag of rice for N20,000