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Nairaland Forum / Nairaland / General / Politics / Government's Wrong Policy Choices Caused This Recession - Pat Utomi (26849 Views)
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Government's Wrong Policy Choices Caused This Recession - Pat Utomi by mamabomboy: 8:32am On Sep 19, 2016 |
http://www.vanguardngr.com/2016/09/recession-govt-made-wrong-policy-choices-utomi/ 13 Likes 1 Share |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by mamabomboy: 8:35am On Sep 19, 2016 |
I-diot, after you and Oby have led us into the lions den, you now want to jump out and claim you are wise. Buffoon, you are giving an economic analysis on the pulpit. When did the church become an economic institute. You better go and find something to do instead of making noise like Ezekwesilly the foool. 102 Likes 7 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by AntiWailer: 8:39am On Sep 19, 2016 |
Yes by not consulting Pat Utomi who led BANK PHB and another company into liquidation. We also assumed Ben Bruce was intelligent before AMCON asked for the loan he collected. With that amount of loan, I will employ more Nigerians and still service my loan. (As long as i don't buy home in the US from the loan as shown by Sahara Reporters) That Said, So it won't look like I am concentrating on the messenger and not the message, Nigeria EXPORTS OIL and imports everything including RICE and Soldier's Khaki. On the recession. Check out several countries in recession. Buhari's Policy must have affected them too. NOTE: Most of the top 12 Oil Producing companies in order of their oil production output are in RECESSION. NIGERIA IS 13 1 United States 11,973,000 2 Saudi Arabia (OPEC) 11,624,000 3 Russia 10,853,000 4 China, People's Republic of 4,572,000 5 Canada 4,383,000 6 United Arab Emirates (OPEC) 3,471,000 7 Iran (OPEC) 3,375,000 8 Iraq (OPEC) 3,371,000 9 Brazil 2,950,000 10 Mexico 2,812,000 11 Kuwait (OPEC) 2,767,000 12 Venezuela (OPEC) 2,689,000 13 Nigeria (OPEC) 2,427,000 http://www.bloomberg.com/news/articles/2016-01-11/meet-2016-s-worst-economic-performers-flirting-with-disaster Check the chart above and you will know that all this politicians are just trying to take advantage of the unfortunate period to score Cheap Points and escape prosecution for looting. I will analyze TOP 13 oil producing countries and evidence of recession in 2016 some have been struggling since 2015. Please check links, extracts and the bolded. 1. RUSSIA in recession
2. VENEZUEALA in recession Oil Producing (No 12) Crisis terrible and leading to Food shortage.
3. CANADA in recession
4. CHINA in recession
5. SAUDI ARABIA in recession
6. Kuwait
7. Iran - Facing worst recession in 30- 40 years. Imagine recession worst than even when they were heavily sanctioned by USA.
8. BRAZIL in recession - Check The reason bolded below. Does that not sound familiar to what Killed Nigeria ? Price of commodity responsible for their growth (Oil) crashed and CORRUPTION in state-run oil company.
If you are expecting any Miracle if PDP or Jonathan were to be returned during the 2015 election, You are either a party agent, a tribalist, an ignoramus or a dullard. The combination of the last 3 is usually the case. WE NEED TO WAKE UP , IT IS REALITY O CLOCK !!. Go back to farm and stop dependence on Oil. The policies that allowed Nigeria depend on ALL IMPORTATION killed Nigeria not Buhari. 75 Likes 14 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by bonechamberlain(m): 8:40am On Sep 19, 2016 |
Something is wrong with this country. 5 Likes |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Goke7: 8:43am On Sep 19, 2016 |
Utomi was one of the economists shouting for the floating of the naira, now he is trying to absolve himself by saying the govt would have done it earlier. This recession has made me know that some of these economists are not brilliant after all. 47 Likes 3 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by agwom(m): 8:44am On Sep 19, 2016 |
Our great country need leaders with good hearts to move forward.. 3 Likes |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by NgeneUkwenu(f): 8:51am On Sep 19, 2016 |
Responding to a question on the fete that befell He blames everybody but himself! 32 Likes 1 Share |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by NgeneUkwenu(f): 8:55am On Sep 19, 2016 |
said the collapse in oil prices ought In an economy that is dependent 90% on oil? 16 Likes 1 Share |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Abeymills(m): 8:59am On Sep 19, 2016 |
Sorry o zombi albino wailers form yav finish o 3 Likes 1 Share |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by idupaul: 9:01am On Sep 19, 2016 |
He saying what I have always said ..our level of recession has nothing to do with oil prices but all to do with the character and poor judgment of President Buhari 35 Likes 4 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Paperwhite(m): 10:02am On Sep 19, 2016 |
Pat Utomi must be a slowpoke for saying this as he was one of the educated illiterates that ass-licked the senile dullard to lead Nigeria into its present state.#CHANGEBEGINSWITHLIES. 27 Likes 2 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Paperwhite(m): 10:14am On Sep 19, 2016 |
NgeneUkwenu:This is not the first time oil price will fall.It's just the gross clueless & incompetence of the Buhari's government that land us in this shit. 70 Likes 3 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Nobody: 10:16am On Sep 19, 2016 |
Of course, its obvious. Buhari is a curse. 11 Likes 2 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by KINGwax007(m): 10:19am On Sep 19, 2016 |
idupaul:u and patt must be from the same town.. Big head, big education, no brain... How does it happen, that a country which depends on oil as the major revenue, rely mostly on imports, and had no savings for dry season, not be in recession, when the source of revenue shrinks? Oya, economic savvy, tell me.. 16 Likes |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Paperwhite(m): 10:20am On Sep 19, 2016 |
NgeneUkwenu:Exactly the way Buhari have been doing it.Are you surprised he learnt it from him? #CHANGEBEGINSWITHBLAMESHIFTING. 44 Likes 3 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by CSTR2: 10:33am On Sep 19, 2016 |
Facts are sacrosanct. Only zombies and never-do wells deny them. 6 Likes 2 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Rrankdonga(m): 10:39am On Sep 19, 2016 |
NgeneUkwenu:please go and sit down. 10 Likes |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by simplycarro: 10:42am On Sep 19, 2016 |
Why is Nigeria plagued with slow thinkers as our leaders? The same way GEJ was very slow in taking decisive measures against the Chibok girls kidnap is the same way this PMB was so slow in taking measure to arrest the declining economy. 7 Likes |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by chernest2002: 10:45am On Sep 19, 2016 |
We're in a long trouble called buhari so Mr utomi take Hart. 1 Like 1 Share |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by idupaul: 10:58am On Sep 19, 2016 |
KINGwax007: First thing we should know the decline in oil prices is not commensurate to the level of drop our economy has witnessed. . Have you asked yourself that that despite low oil prices and virtually no democratic structure on ground plus no foreign reserve and a heavy debt profile how Obasanjo managed to steer the country to some growth ..Mr I will highlight some poor decisions made by a visionless Buhari (I also voted for him oo) that virtually nuked the Nigerian economy. Before President Buhari was sworn in Oil prices had spiralled down plus he was taking over from an exceptionally corrupt govt led by the meek GEJ. A wise leader taking over such affairs will not do some things ..below are things Buhari shouldn't have done .. 1: He shouldn't have spent more than six months choosing his ministers and team ..Knowing that we were in an era of low oil revenues Buhari should have hit the ground running in a manner that will inspire confidence in the NIGERIAN economy but he didn't rather he left the country without a policy framework or directionfor 6 months . 2: The ridiculous MTN fine : 6 months after his inauguration Buhari suddenly realises he has low revenue from oil and take advantage of the simplest registration penalty to slap MTN the largest fine ever heard in human history , a ridiculous fine of 5 billion dollars ..that immediately set most multinationals who had been operating under lax Nigerian laws to find parallel means of expatriating over 80 billion dollars out of the country in under 3 weeks just in case the govt of the new sheriff decided to clamp down on their profits still housed in Nigeria..Ironically the president couldn't even get MTN to pay the 5 billion dollar as it was reviewed to some really paltry some to be paid small small over time but the damage was already done . 3: For years most people knew our Banks relied on govt patronage for a large percentage of its deposits..Mr Buhari in his visonles manner goes on to pull the rug over night by implementing TSA a 100 percent instead of the piece meal fashion recommended by those who even created the TSA in the first place, the banking industry was suddenly hit with a massive withdrawal symptom that also cascaded into the real private sector including small businesses . 4: When oil prices are low oil producing country usually ramp up production to try to use volume to counter losses realised form low oil margins and that why Saudi Arabia this year increased production levels to a record high ..In Nigeria what did Buhari do? Buhari chose such are time to declare Tompolo wanted for a supposed fraud of 13 billion naira thereby throwing the region into chaos as militants took to the offensive to avoid arrest. .this action further cut down our production by another half meaning despite low oil price Mr Buhari now had to deal with low output and production. 5: Recently as production started to pick up the Army announced it was deploying 10 thousand soldiers to the region ..I don't have a problem with that but why announce it ..By announcing it tension is again heightened in the region. .Abacha deployed more troops to the Niger delta but never announced it sef . Bro I can go on and on ..the truth is that Buhari can never make a great leader and will never .he doesn't have that vision and prefers knee jerk action to well thought out solutions 102 Likes 17 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Nobody: 11:28am On Sep 19, 2016 |
PAT UTOMI, yhu don't mean it 2 Likes 2 Shares
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Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by genearts(m): 12:35pm On Sep 19, 2016 |
idupaul: I totally agree with number 1, but the others points are not cogent enough 3 Likes |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by salabscholar01(m): 1:36pm On Sep 19, 2016 |
ok |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Nobody: 1:36pm On Sep 19, 2016 |
mamabomboy: SO how much have you contributed to solving the problem that is now Buhari's to solve? 3 Likes 2 Shares |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by Kaira333: 1:36pm On Sep 19, 2016 |
Thank God some people are now saying d truth. Nobi GEJ again? Its well 2 Likes |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by ghanaman5050: 1:37pm On Sep 19, 2016 |
Prof , What is the way forward ? |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by ceeethru(m): 1:37pm On Sep 19, 2016 |
Both the wailers and hailers all aware that he bubu (buhari) policies are wrong. |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by henrydadon(m): 1:37pm On Sep 19, 2016 |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by g4everybody(m): 1:37pm On Sep 19, 2016 |
We already knw this fact, no matter how the government tries to hide the truth, it wil surely surface. Buhari stupidity and cluelessness brought us to where we are now 8 Likes 1 Share
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Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by emamos: 1:38pm On Sep 19, 2016 |
Solutions is d koko |
Re: Government's Wrong Policy Choices Caused This Recession - Pat Utomi by godin: 1:38pm On Sep 19, 2016 |
buhari why |
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