Minister of Finance, Mrs Kemi Adeosun has assured Nigerians in a series of tweet to boost morale


The Minister of Finance, Mrs. Kemi Adeosun, on Wednesday admitted that Nigeria was in its worst possible time with the Gross Domestic Product figures for the 2016 second quarter released by the National Bureau of Statistics showing the nation’s economy now in recession.



The nation’s external reserves fell by 2.86 per cent to $25.45bn on August 29, 2016, the latest report from the Central Bank of Nigeria showed on Wednesday. The foreign exchange reserves stood at $26.2bn at the end of July.

The minister said, “I think that we have a long way to go. We’re not confused and we’re not deceiving ourselves that everything is rosy. It’s not.

“It’s a difficult time for Nigeria but I think Nigeria is in the right hands and if we can stick with our strategy… We still have some adjustments to make. I think we need to make some adjustments in monetary policy.”

Reactions from Nigeria lns

Whenever I watch her talk I jus feel sorry for her.
Always giving off this vibe that she isn't quite ready for the job yet.
Once u go past her "oyibo phoney" u begin to get the impression that such a critical ministry has been thrust in d hands of a seemingly inexperienced individual

Lalasticlala

gohome:
Lalasticlala

Mynd44 where you and lalasticlala dey ? Una good afternoon oo !

Front Page Material. If na against PDP na, na speed e go take reach FP.

This is the runs girl running awa economy to the ground

You asked for it.
Next time when you hear " I had no shoes", know that it is coming from a man whose head has been damaged by poverty .

"BOTTOMS OUT"

That is a phrase Nigerians should put in their lexicon
Until the distortion from the fake expansion cause by high oil prices dissipates and Nigerian come back to the reality of their situation , The economy will finds her natural level the recession will bottom out and the economy will start to grow once again.

My take is that the recession is only half way to the bottom and the naira is still over valued.
I see the true value of the Naira as between N600 - N1500.

$400,000 for a crappy house in lagos?
You are having a laugh.

did i hear her say "i think"?

JESUS christ, you just confirm to me that you all are confuse

I really don't get it. Who is she advising - Nigerians? It shows that she is speculating and does not have plans. Nigerians now know we must diversify the economy, we don't want cheap talk, we need to see plans, policies and directions on diversifying the economy.

This her tweet is irritating at the moment. She should leave Twitter and get to work and if she must employ foreign consultants, she better do so because I smell lack of inexperience and knowledge on what to do from her tweets

Boss13:
I really don't get it. Who is she advising - Nigerians? It shows that she is speculating and does not have plans. Nigerians now know we must diversify the economy, we don't want cheap talk, we need to see plans, policies and directions on diversifying the economy.

This her tweet is irritating at the moment. She should leave Twitter and get to work and if she must employ foreign consultants, she better do so because I smell lack of inexperience and knowledge on what to do from her tweets

And you seeing the plan will make the recession disappear?
Ogbeni, get used to being poor and wicked because that is the Nigerian reality.
Buhari told you to your face. Nigeria is a poor country.
I warned on this forum that people should follow Buhari's lead that instead of devaluing the Naira, Nigerians should tighten their belt and do away with luxuries for a while. That the benefit of holding the value of the Naira far outweighs the benefits of a devaluation.Even;Even if a few people were making a killing from round tripping.
I and Buhari warned that devaluation and allowing the currency to float would inflict a devastating social cost that is more than any benefit that would accrue from such policy.

Tell me which is better?
A rich man having to jump a few hoops to find 50000 dollars for his Child's tuition in America or medicines,food and fuel for the masses.
True beneficial investors always remain regardless of the situation.
But he was pressured by all the dumb textbook economists and on this forum,we had noisemakers from paid PDP trolls

Wickedness
If Fuel prices were to increase by 5% today, transporters automatically increase their fares by 300% and food stuffs go 600%.
If this is not how Nigerians destroy their own country and themselves, tell me another narrative.

is she telling us?

here is the coup speech after buhari was kicked out.
The country is fertile for military coup once again,
you will all agree with me that history is repeating itself.

The coup speech that overthrew Buhari on August 27, 1985


I, Brigadier Joshua Nimyel Dogonyaro, of the Nigerian Army, hereby make the following declaration on behalf of my colleagues and members of the Nigerian Armed Forces. Fellow country men, the intervention of the military at the end of 1983 was welcomed by the nation with unprecedented enthusiasm.


Nigerians were unified in accepting the intervention and looked forward hopefully to progressive changes for the better. Almost two years later, it has become clear that the fulfillment of expectations is not forthcoming.


Because this generation of Nigerians and indeed future generations have no other country but Nigeria, we could not stay passive and watch a small group of individuals misuse power to the detriment of our national aspirations and interest. No nation can ever achieve meaningful strides in its development where there is an absence of cohesion in the hierarchy of government; where it has become clear that positive action by the policy makers is hindered because as a body it lacks a unity of purpose. It is evident that the nation would be endangered with the risk of continuous misdirection.


We are presently confronted with that danger. In such a situation, if action can be taken to arrest further damage, it should and must be taken. This is precisely what we have done. The Nigerian public has been made to believe that the slow pace of action of the Federal Government headed by Major-General Muhamadu Buhari was due to the enormity of the problems left by the last civilian administration.


Although it is true that a lot of problems were left behind by the last civilian government, the real reason, however, for the very slow pace of action is due to lack of unanimity of purpose among the ruling body; subsequently, the business of governance, has gradually been subjected to ill-motivated power play considerations.


The ruling body, the supreme Military Council, has, therefore, progressively been made redundant by the actions of a select few members charged with the day to day implementation of the SMC’s policies and decision. The concept of collective leadership has been substituted by stubborn and ill-advised unilateral actions, thereby destroying the principles upon which the government came to power.


Any effort made to advise the leadership, met with stubborn resistance and was viewed as a challenge to authority or disloyalty. Thus the scene was being set for systematic elimination of what, was termed oppositions.


All the energies of the rulership were directed at his imaginary opposition rather than to effective leadership. The result of this misdirected effort is now very evident in the country as a whole.


The government has started to drift. The economy does not seem to be getting any better as we witness daily increased inflation. The nation’s meager resources are once again being wasted on unproductive ventures. Government has distanced itself from the people and the yearnings and aspirations of the people as constantly reflected in the media have been ignored.
This is because a few people have arrogated to themselves the right to make the decisions for the larger part of the ruling body.



All these events have shown that the present composition of our country’s leadership cannot, therefore, justify its continued occupation of that position. Furthermore, the initial objectives and programmes of action which were meant to have been implemented since the ascension to power of the Buhari Administration in January 1984 have been betrayed and discarded.


The present state of uncertainty and stagnation cannot be permitted to degenerate into suppression and retrogression. We feel duty bound to use the resources and means at our disposal to restore hope in the minds of Nigerians and renew aspirations for a better future.

We are no prophets of doom for our beloved country, Nigeria. We, therefore, count on everyone’s cooperation and assistance. I appeal to you, fellow countrymen, particularly my colleagues in arms to refrain from any act that will lead to unnecessary violence and blood shed among us. Rest assured that our action is in the interest of the nation and the armed forces. In order to enable a new order to be introduced, the following bodies are dissolved forthwith pending further announcements: (a) The Supreme Military Council (b) The Federal Executive Council (c) The National Council of States.
All seaports and airports are closed, all borders remain closed. Finally a dusk to dawn curfew is hereby imposed in Lagos and all state capitals until further notice. All military commanders will ensure effective maintenance of law and order. Further announcements will be made in due course. God bless Nigeria.

https://www.naij.com/532616-august-27-1985-day-president-buhari-overthrown.html

oduastates:


And you seeing the plan will make the recession disappear?
Ogbeni, get used to being poor and wicked because that is the Nigerian reality.
Buhari told you to your face. Nigeria is a poor country.
I warned on this forum that people should follow Buhari's lead that instead of devaluing the Naira, Nigerians should tighten their belt and do away with luxuries for a while. That the benefit of holding the value of the Naira far outweighs the benefits of a devaluation.Even;Even if a few people were making a killing from round tripping.
I and Buhari warned that devaluation and allowing the currency to float would inflict a devastating social cost that is more than any benefit that would accrue from such policy.

Tell me which is better?
A rich man having to jump a few hoops to find 50000 dollars for his Child's tuition in America or medicines,food and fuel for the masses.
True beneficial investors always remain regardless of the situation.
But he was pressured by all the dumb textbook economists and on this forum,we had noisemakers from paid PDP trolls

Wickedness
If Fuel prices were to increase by 5% today, transporters automatically increase their fares by 300% and food stuffs go 600%.
If this is not how Nigerians destroy their own country and themselves, tell me another narrative.

A plan shows that the government understands it's priorities and willingly to work. It boost public and investors confidence.

We will need to spend so much to get out of this. Hopefully, we can access loans or oil price increases.

lalasticlala
You should put this on FP

Boss13:


A plan shows that the government understands it's priorities and willingly to work. It boost public and investors confidence.

Awo On The Law Of Sowing and Reaping
"Like cause always produce like effect. In kind, we always reap what we sow; but quantitatively, we always reap much more than we sow."
- Lecture at the University of Lagos (1968): In Voice of Courage (1981)



Who are those investors?
I keep hearing about these investors but the more I hear of these investors , the poorer Nigerians become.
Poverty rates and unemployment have been increasing since 1960 regardless of how they chose to redefine employment and poverty.
A graduate of electrical engineering riding Okada is not employed according to the economics textbooks that I read whole growing up. A trained accountant selling provisions in a 4 x 4 shop in order to survive is not employed.
Maybe the fascist neo liberals have redefined employment.

oduastates:


Awo On The Law Of Sowing and Reaping
"Like cause always produce like effect. In kind, we always reap what we sow; but quantitatively, we always reap much more than we sow."
- Lecture at the University of Lagos (1968): In Voice of Courage (1981)



Who are those investors?
I keep hearing about these investors but the more I hear of these investors , the poorer Nigerians become.
Poverty rates and unemployment have been increasing since 1960 regardless of how they chose to redefine employment and poverty.
A graduate of electrical engineering riding Okada is not employed according to the economics textbooks that I read whole growing up. A trained accountant selling provisions in a 4 x 4 shop in order to survive is not employed.
Maybe the fascist neo liberals have redefined employment.

Investors are people with dollars

gohome:


Investors are people with dollars

We do not want hot money.

They come in with hot money.
God into the market and inflate a bubble thereby creating an illusion of newly found wealth.
the illusion of wealth leads our people into another round of squandermania.
Jobs of N24,000,000 in finance sitting behind pretending to be doing something.
At the peak of the bubble, our so called investors quietly leaving a train wreck behind.

Give me an answer to this question.

Why is it that we never get the investors who want to invest in

1 iron Steel
2 Aluminium smelting
3 Water Work
4 Chemicals
5 Mining
6 Other heavy industry and Things we can exports

Why do will always get those who promise to double your money.

They increased national budget by 50% from N4tn to N6tn and still capped CAPEX at 30% even though they merged ministries by 50%, they still increased recurrent expenditure by 70%. They later told us that they would only implement 15% of the capital budget.

i taught that's supposed to be a parody account?

This is what u get when a runs girl( Olosho) is made minister of finance.....

Wetin dey do this Olosho, oshogbo is far from abuja, i for say she smoke oshogbo weed

oduastates:
You asked for it.
Next time when you hear " I had no shoes", know that it is coming from a man whose head has been damaged by poverty .

"BOTTOMS OUT"

That is a phrase Nigerians should put in their lexicon
Until the distortion from the fake expansion cause by high oil prices dissipates and Nigerian come back to the reality of their situation , The economy will finds her natural level the recession will bottom out and the economy will start to grow once again.

My take is that the recession is only half way to the bottom and the naira is still over valued.
I see the true value of the Naira as between N600 - N1500.

$400,000 for a crappy house in lagos?
You are having a laugh.

God bless you for the bold.
Government has been subsidizing Naira with excess petro-dollar and this has been discouraging export of goods(honey, cocoa etc) and services (freelancers, bloggers, professionals etc). When dollar hits N800 then the exporter can start smilling again. That time FG can easily offset recurrent bill with the oil sales it makes (even @ $30pb).

adconline:
They increased national budget by 50% from N4tn to N6tn and still capped CAPEX at 30% even though they merged ministries by 50%, they still increased recurrent expenditure by 70%. They later told us that they would only implement 15% of the capital budget.

They acted right.

oduastates:


We do not want hot money.

They come in with hot money.
God into the market and inflate a bubble thereby creating an illusion of newly found wealth.
the illusion of wealth leads our people into another round of squandermania.
Jobs of N24,000,000 in finance sitting behind pretending to be doing something.
At the peak of the bubble, our so called investors quietly leaving a train wreck behind.

So true. People just hook up with jobs with high pay but no service rendered in return. The govt has been subsidizing everything from labour, to rice, to flour, to petrol, and then to dollar which equates with indirect subsidy of everything dollar imports.

oduastates:

I and Buhari warned that devaluation and allowing the currency to float would inflict a devastating social cost that is more than any benefit that would accrue from such policy.

Tell me which is better?
A rich man having to jump a few hoops to find 50000 dollars for his Child's tuition in America or medicines,food and fuel for the masses.
True beneficial investors always remain regardless of the situation.
But he was pressured by all the dumb textbook economists and on this forum,we had noisemakers from paid PDP trolls

Wickedness
If Fuel prices were to increase by 5% today, transporters automatically increase their fares by 300% and food stuffs go 600%.
If this is not how Nigerians destroy their own country and themselves, tell me another narrative.

I perfectly understand you. Nigerians are lazy people and would want to hate you for the truth but know that we not all ignorant.