mamabomboy:
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.

NgeneUkwenu:


He blames everybody but himself!

NgeneUkwenu:


He blames everybody but himself!

cococandy:
True

Goke7:
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.

idupaul:
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

idupaul:



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

mamabomboy:
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.

Paperwhite:
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.

holocron:
An excellent analysis! You should be up there bro!

No. 1 especially. Sent a message of cluelessness and a despicable unprepardness. Incompetence of the highest order. Buhari has no blueprint or agenda for governing the country, after struggling 12 years for it, even with death threats of blood, baboons and dogs! What a disaster! This proves that idiagbon was the actual power behind the throne in 1985.

chernest2002:
We're in a long trouble called buhari so Mr utomi take Hart.

Goke7:
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.

idupaul:




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 .


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

NgeneUkwenu:


He blames everybody but himself!

Ahmedhussain3463:
dt trouble will last for u till 2023 only if buhari decide nt to recontes or Allah dnt wnt him to remain

Tokety7:
Never knew Utomi is now this dumb. Shame.

AZeD1:

This is your only point that is agreeable, others are debatable.
I'll speak on the TSA.
The banks were getting free money from the government and loaning back to the same government at 15% interest rates, they were also lent to the real sector at 20% and above interest rate which is terrible. The government was loosing money by this arrangement and also the free money was not used by the banks to help fund SME's. I wholly support this move by the government.
Once forex racketeering is dealt with, the banks will have no other option than to go back to core banking.

idupaul:



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

Goke7:
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.