nwanna89:
Number 3 is the foundation of all our problems now. If a president makes unguarded statements about the state of the country's economy, it puts current and potential investors in fear and uncertainty. This single act led to so many issues, primarily the hoarding of dollars and ultimately the huge devaluation of the naira.

Buhari and his cabinet thought they were smearing GEJs name by making those statements, but were actually screwing up the economy in the process. No president comes out to say his country is broke and citizens should brace up for hard times. Yes, the economy was not perfect under GEJ, but they knew to be careful about their utterances in order to give confidence to investors and citizens about the state of things.

Now investors are refusing to come to nigeria due the uncertainty. Curremt investors are packing out. Those in possession of dollars are refusing to sell it. I remember in the past, one could go to mallam to buy dollars. Now u cannot buy, because they too are hoarding.

Notice now, they have realized their mistake and stopped talking about how bad the economy is. They are now trying to paint a better picture of the economy to give some confidence and faith to investors. But it is too late!

FGs unguarded comments about the state of the economy is the only reason nigeria is in the shithole it is now

Justcash:

Sudden Implementation of Treasury Single Account (TSA)- This policy threw the banking and financial sector into turmoil as huge sums were swept out of banks and dormantly stashed into a preferred safe.

Justcash:

2) Tightening of Foreign Exchange Transactions- This policy made it difficult to make foreign exchange, and threw thriving businesses into turmoil which led to massive sacking of workers and manufacturing slowdown.

Justcash:
1)
3) Unguarded Utterances During Foreign Trips- The president made several unguarded utterances that gave the impression that Nigeria was headed for the rocks. This made foreign investors hesitant about coming into Nigeria, and encouraged those that were already in Nigeria to speculate and pull out funds.

Justcash:

4) Halting of Important Projects in the Niger Delta- Buhari moved to remove majority of the projects that were created to provide tangible benefits to Niger-Deltans. For example, the Maritime University and Pipeline protection projects. Though, some of these projects were condemned by Nigerians, they kept the Niger-Delta at peace and allowed for the maximization of the benefits from petroleum exports.

These is a very funny reason!
So, in your brain, you think the Niger Delta is equal to the whole of Nigeria?
So, assuming projects are halted in the ND but not in the remaining parts of Nigeria, that should lead to recession, huh?
Abeg, wake-up. the ND is just less than 15% of Nigeria so its effect (assuming it is true, but we know that Buhari has initiated new projects and even restarted abandoned ones in the ND) will be minimal on the country.
Pipeline protection is a SCAM that created riches for plain CRIMINALS.
Our Military are paid huge sums to protect the country, we will not sub-contract their work to militants. End of story.
The recession is as a result of dwindling revenue and sabotage (Pipeline vandalization especially) by the same people blaming Buhari. We know them

Justcash:

5) Buhari's Northern Developmental Focus in Nigeria- The developmental aim of the president is very much skewed towards Northern Nigeria than every other part. So, he is more like kick starting a new economic focus, while dumping existing economic strengths. For example, he is devoting billions of dollars to search for petroleum in the North when Nigeria does not have functional refineries to ensure adequate availability of petroleum products that are already being produced in the South.

Justcash:

6) Elimination of All the Policies Made by PDP- it is on record that even though PDP led governments were corrupt, they made some major strides in diversifying Nigeria's economy. For example, Agricultural export came to life under PDP. Buhari has focused on bedeviling and antagonizing every single policy made by the PDP. In the process, he has thrown out good policies and progress that were made in the past. He is almost starting afresh, and this has rebooted Nigeria and thrown us years backwards.

Justcash:

7) Preference for Violence over Dialogue- Buhari prefers to use military force to quell civil strife. This approach ignites more protests and civil disobedience. An economy cannot experience progress in violent conditions. Even Lagos and Ogun axis has experienced an open show of military bombardment, which scares a heck out of investors. The same is true about the production shut ins in the Niger Delta region. Some of these issues can be solved with dialogue and with police actions than full scale military assaults.

Abeymills:
The problem we have 2day is not apc but bubuhari himself his so myopic clueles dullard wicked miser selfish unguided talks anyhow inshot dat man brain dey leak oil

ba7man:
From $120/100 per barrel at 2. 2 million bpd production rate.......... down to $28/36 per barrel at 1. 4 million bpd production rate....... in a country that crude oil makes up 90% of its income.

....... And some people think things should remain the same??

Jokers, they have no idea what the nation is going through.

luvinhubby:


Stale line.

ikarm17:
And oh yea, winning.

I want to see how many likes GEJ zombies will give me for this post.

Have y'all forgotten that almost all oil producing countries are undergoing the same thing Nigeria is going through?

Or for the fact that ND militants and their slavish supporters keeps bombing oil pipelines.

Eluwilussit:


You don't get it. Why is pmb looking for the same product that is no longer attractive in the North, instead of diversifying more into agriculture and some solid minerals that are readily available in the North? The way out of every recession is usually to pump cash into the economy and not to strangle it with austere policies. Make the economy bouyant and create economic activities and you will see people come to invest.

98% of current policies are anti-growth, economically.

eph12:

Cancelled or suspended? I believe the fg used the word cancelled instead of suspended which was a dangerous and wrong thing to do.

berrystunn:


Where are you driving at..

Bubewilson:
this recession will last more than a year...... Things are not getting better till the 2nd quarter of 2018.

ba7man:
From $120/100 per barrel at 2. 2 million bpd production rate.......... down to $28/36 per barrel at 1. 4 million bpd production rate....... in a country that crude oil makes up 90% of its income.

....... And some people think things should remain the same??

Jokers, they have no idea what the nation is going through.

obailala:
2008 crash lasted just 6 months and $20billion was injected from the nation's fat savings to cushion the effects of the crash so you and I didnt feel it. This has been explained 1000 times by even NOI who pointed out the refusal to save as the cause of the present hardship. It's pitiable that someone who isnt aware of this still wants to join in economic arguments.

obailala:
2008 crash lasted just 6 months and $20billion was injected from the nation's fat savings to cushion the effects of the crash so you and I didnt feel it. This has been explained 1000 times by even NOI who pointed out the refusal to save as the cause of the present hardship. It's pitiable that someone who isnt aware of this still wants to join in economic arguments.

Bubewilson:
this recession will last more than a year...... Things are not getting better till the 2nd quarter of 2018.

naijaking1:


Yeah, yeah, we have heard this line before.
Next you will blame GEJ, Yardua, OBJ, Abubakar, Abacha, IBB, and old BUhari for not saving for the rainy daily when a mismanaging and demented old Buhari will return to power as confused as ever.
Even if he sell oil at $1000/barrel, this uneducated old man will not know what to do to improve the economy.

danosky91:
no mind dat baba na we do mistake in our quest for change we were blinded by ignorance to have foreseen that pmb is no fit to become a nations president intellectually and democratically.i therefore issue him a certificate of vacation to leave that space........lol oya sai babas come and quote

progress69:
[s][/s]
Useless sentimental tribalistic bull crap, full of lies and deceit

How do one eat is cake and expect to have it. That's the best way to describe what exactly is going on now. Not the thrash u wrote

Bubewilson:
this recession will last more than a year...... Things are not getting better till the 2nd quarter of 2018.

ba7man:
Even with crude oil prices and our production at record low, it's still our highest source of revenue.

The money realized can be pumped into other sectors to develop them.

jadakiss213:
Pray tell..Did Muhamadu Buhari not Inherit foreign reserves?

Oil production even tho our biggest source of income. Is less than 15 percent Of our GDP.

Guy,a drop in. Oil prices is not An excuse for watching the Economy slip into recession.

INCOMPETENCE,obviously flawed and ARCHAIC POLICIES,unguarded Statements by the C. In C. and the now usual flip flops by the govt of the day would certainly take any economy there.

Yyeske:
Why wasting your your precious time and MB educating these wailers, they hate PMB and will never see anything good he does. NOI predicted this recession and her explanation was that the government of GEJ didn't want to save. Oil is about $40 now unlike $100-140 under GEJ yet that buffoon couldn't save, even depleted what OBJ and Yar'adua saved and all the wailers want is a miracle. Save yourself the stress of educating those haters, you can never help their state.

ikarm17:
And oh yea, winning.

I want to see how many likes GEJ zombies will give me for this post.

Have y'all forgotten that almost all oil producing countries are undergoing the same thing Nigeria is going through?

Or for the fact that ND militants and their slavish supporters keeps bombing oil pipelines.

nwanna89:
Number 3 is the foundation of all our problems now. If a president makes unguarded statements about the state of the country's economy, it puts current and potential investors in fear and uncertainty. This single act led to so many issues, primarily the hoarding of dollars and ultimately the huge devaluation of the naira.

Buhari and his cabinet thought they were smearing GEJs name by making those statements, but were actually screwing up the economy in the process. No president comes out to say his country is broke and citizens should brace up for hard times. Yes, the economy was not perfect under GEJ, but they knew to be careful about their utterances in order to give confidence to investors and citizens about the state of things.

Now investors are refusing to come to nigeria due the uncertainty. Curremt investors are packing out. Those in possession of dollars are refusing to sell it. I remember in the past, one could go to mallam to buy dollars. Now u cannot buy, because they too are hoarding.

Notice now, they have realized their mistake and stopped talking about how bad the economy is. They are now trying to paint a better picture of the economy to give some confidence and faith to investors. But it is too late!

FGs unguarded comments about the state of the economy is the only reason nigeria is in the shithole it is now

nwanna89:
Number 3 is the foundation of all our problems now. If a president makes unguarded statements about the state of the country's economy, it puts current and potential investors in fear and uncertainty. This single act led to so many issues, primarily the hoarding of dollars and ultimately the huge devaluation of the naira.

Buhari and his cabinet thought they were smearing GEJs name by making those statements, but were actually screwing up the economy in the process. No president comes out to say his country is broke and citizens should brace up for hard times. Yes, the economy was not perfect under GEJ, but they knew to be careful about their utterances in order to give confidence to investors and citizens about the state of things.

Now investors are refusing to come to nigeria due the uncertainty. Curremt investors are packing out. Those in possession of dollars are refusing to sell it. I remember in the past, one could go to mallam to buy dollars. Now u cannot buy, because they too are hoarding.

Notice now, they have realized their mistake and stopped talking about how bad the economy is. They are now trying to paint a better picture of the economy to give some confidence and faith to investors. But it is too late!

FGs unguarded comments about the state of the economy is the only reason nigeria is in the shithole it is now

xerxes456:
the truth always hurts... the presidents comments was aimed at giving everyone including the investors a good picture of what to expect... those investors were more interested in opportunistic deals and easy profits (as usual) they never had Nigeria in mind... let them go... those with better business ideas and better development strategies are welcome... nation building is not and can never be an easy task... their aim was to make Nigeria bankrupt so we can be their slaves... let them Go

Justcash:


Scarcity drives up prices. High unemployment rate combined with high prices increases hunger and poverty. The solution is to use government expenditure to stimulate investment in the private sector with an expectation that it will facilitate domestic consumption and make the market more attractive for more influx of private investments. This will naturally create capitalist competition and naturally drive down prices.

You don't stall importation and increase prices in the face of high unemployment rate and low investment rate. You'll simply drive your country or business into an abyss. Contrary to what people are thinking, Buhari is hoping on God to answer the prayers of the pilgrims that he subsidized Forex for.

By the way, if this government continues the way it is going, you will go to the market one day and you will not find tiles to buy either because they will be too expensive or you just won't have the money to buy them.

lastpage:


So, you are telling us that Banks colluding with Civil Servants to steal Govt earnings and Buhari putting a halt to it (even though the TSA policy was initiated under Jonathan but he did not have the honesty and balls to implement it), is what threw Banking and Financial sector into turmoil?
If that is true the they were never a bank but thieving outfits. They need to die in that turmoil.



First, you dont make foreign exchange, you EARN IT.
The major way Nigeria EARNS forex is through sale of Crude oil.
Under GEJ it was as much as $130/Barrel.
Just when Buhari took power, it went down to as low as $28, through no fault of Buhari. it was a global problem.

So, Nigeria was not earning forex but Nigerians want to import everything from tooth-pick, to Biscuits, to shoes.
But when we were earning loads of forex, Jonathan and his gang of thieves were looting it into foreign banks. They did not save for the rainy day nor invest in local production of those basic things we are importing.
Those people whose business is mere importation (not real production of goods) are the ones crying because they are there only to waste our scarce forex.
How can a country grow when its economy is based on mere importation? I know my Biafra brothers are guilty of that but they like to shift the blame on Buhari



[b]There is nothing Buhari has said about Nigeria, that people abroad dont already know.
Is it in Asia where they arrest and sentence Nigerian to death on a daily basis that Buhari wants to tell them about the Drug pushing of some Nigerians?
Is it the foreign banks abroad, were they see the stash of looted money, that Buhari wants to tell them anything new, about the stealing, looting and corruption of Nigerians (not all)?

Is it the Internet were you have hundreds of thousands of stories making the rounds about kidnapping, Boko Haram, violent robberies, e.t.c, that foreigners are already reading, that Buhari can tell them something they have not read online before or do you think these "investors" are as dull as some of you that only read Tontoh Dike and Tiwa Savage CLEAVAGE on the internet?

Buhari is just showing them that these administration will be honest and not pretend everything was fine, unlike the previous one of Jonathan and they are sure convenient with the truth, more than obvious LIES[/b]



These is a very funny reason!
So, in your brain, you think the Niger Delta is equal to the whole of Nigeria?
So, assuming projects are halted in the ND but not in the remaining parts of Nigeria, that should lead to recession, huh?
Abeg, wake-up. the ND is just less than 15% of Nigeria so its effect (assuming it is true, but we know that Buhari has initiated new projects and even restarted abandoned ones in the ND) will be minimal on the country.
Pipeline protection is a SCAM that created riches for plain CRIMINALS.
Our Military are paid huge sums to protect the country, we will not sub-contract their work to militants. End of story.
The recession is as a result of dwindling revenue and sabotage (Pipeline vandalization especially) by the same people blaming Buhari. We know them



The facts in this assertion are mostly true but then, if the WHOLE country mostly depends on Oil and some greedy tribes think they should arrogate a National property to themselves ONLY, just because it gushes out from their Region, do oyu not think it is smart of the President to also look for the same thing in his own region, incase we really need to "break-up"? Or do you want his region to be shortchanged and then forced to go to war to share in the oil?
Finding Oil in the North will make Nigeria's break-up easier, less bloody and faster.
It will also make the ND less important and we can tell them to go to blazes, which is what l think they are calling for.



[b]Look, even a blind person can see that PDP, especially under Jonathan, were just busy looting the resources of this country and they led us to where we are today.
Jonathan single-handedly supervised the destruction of this country.
From corruption, to violent crimes like kidnapping and armed robbery, to ritual killings, e.t.c, Jonathan's administration under his PDP party encouraged glorification of MONEY, debasing of our moral values and the 'get Money at all cost' mentality which leads to violent crimes without any form of compassion for fellow humans.
Under Jonathan, it was all just about getting Money at all or ANY COST.
So, any serious Govt cannot build its legacy on that history and house of corruption. Jonathan is just lucky that we are not under a military agenda otherwise, like Lt. Jerry Rawlings did in Ghana, all those PDP and some APC looters would just have been lined-up and shot by the miliatry, for economic subversion/sabotage.
if that happened, we wont be saddled with the likes of Saraki and Dogara and their band of budget-padding syndrome[/b]



[b]There are some problems that dialogue cannot solve.
There are some people that dont understand dialogue except they are pressured into it or dont have an alternative.

Some of the problems we have are like Hostage-taking and blackmailing, those kind of problems understand ONLY FORCE.
for example, a kidnapper will blackmail you for money and keep doing so, if he is sure he can get away with it. You need force to put a stop to it.
Same goes for Militants (we have dialogued with them, sent them abroad for re-training in the last ten years, gave them jobs, e.t.c but it is obvious that they just want to be milking other hard-working Nigerians, till eternity).
Look at Boko haram as well/ if they want to dialogue with Govt, they have all the opportunity but they are Religious fanatics who want to create a caliphate within Nigeria. They are rapist and kidnappers, murderers of the innocent.
So, the Govt has a right and duty to protect its citizens from such criminal organisations, using all means necessary.

The strategy is that to deal with criminals is that they wont negotiate until they are certain the other option they have is total annihilation.
So, like the Americans will do, you pound the enemy (soften them) to the point were they have no other choice than to negotiate.
That makes negotiation easier.
That is what Buhari is doing.
Now that the various criminal gangs saw that Buhari is investing seriously in 'serious weapons' and the Military is being re-positioned to fulfill its role to the nation, some of them are beginning to see the wisdom in negotiation.

I have decided to break it down for you so that misguided people like you dont think you are saying something meaning full, when you write such gibberish online.
Go back to school please.[/b]


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