Dee60:


My brother, I agree with you and your approach. But the truth must be told that the FG is not handling this well enough. The country is not new to low oil prices. There are companies now whose income has halfed. Have they closed shop? Excuse is an evidence of failure. The current tenure was not prepared that is why it took them 6 months to select a very weak team. Right now, they do not seem to have any plans for the economy. Their body language, arrogance and their lopsided approach is driving away investments, and the economy is shrinking fast. Even APC stalwarts have started saying this to the FG.

It is not just about oil prices but about how you manage it. I actually feel that if oil is still selling above USD100 per barrel Nigeria will still be in recession now! If you have all the money in the bank and you dont have plans you could end up losing value!

Economics as a subject is easy and difficult to grasp. Hence many like you get confused.

It's true the country is not new to low oil prices. But the fact is that our economy (as with many others around the world), by nature and other developments, has responded to those developments and grown beyond that low oil price you refer to. Our consumption and demands for imported goods were predicated on that high oil price. So, once the crude price crashed, it's expected to impact us negatively, especially without savings to cushion the efeects.

Contrary to your belief, PMB is doing his best to weather the storm. It would have been worse with GEJ in the saddle.

If you earn 100k monthly foe the last five years but failed to have 50k in your savings, how would you cope with meeting same demands if that 100k salary suddenly gets reduced to 40k?

It's not rocket science my friend. Many of you react with emotions and not on available facts and figures.

PassingShot:

Forget the tory about the paper growth!

GEJ crashed our economy. Get your facts right, Ok?

guy, your zombiesm is unfathomable

defenders of this regime keep blaming either the drop in crude oil price or the looting of the treasury by the past administration for the present recession.

the question I want answered is who is to blame for the drop in FDI?...

recession or not, crude oil or not, if a country has a good investment climate, investors will bring their dollars to invest in that economy.