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Nairaland Forum / Nairaland / General / Politics / Nigeria Will Continue To Experience Sluggish Recovery – Fitch (7783 Views)
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Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by SillyMods: 11:58am On Jun 12, 2019 |
ikennaf1:Dieof hatred. E no concern me. 1 Like 1 Share |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by ehissi(m): 12:22pm On Jun 12, 2019 |
ITbomb: And all of that, fantastic as it is, will have no effect without the complementary FOREX policy to back it up..... No nation exists in the earth that is 100% self sufficient, import play a role. You either rely heavily on import, or rely less.... We rely totally on it for now, even if we want to build an economy that relies less on it, it will take time, planning plus a realistic forex policy - which is a very key factor..... 95% of businesses closing up in Nigeria, folded up because it, from Sun international leaving the only 5 star hotel we have in Nigeria, to local pre-paid metre manufacturers closing up, PG closing up production plants/factories etc They rely on imports to bring in raw materials to support product manufacturing, raw materials we dont/cant produce..... An impractical FOREX policy will be counter productive to any EGRP FG is trying to market/create or work out...... I mean think about it, you limit access to forex and change the import tariff regime that limits access to fertilisers - while claiming to boost agricultural production. But offer import waivers to Dangote to build a refinery. And make a boast of it.... Forgetting one crucial question, can private refineries buy crude, refine and sell fuel and maintain the current price regime? Who told you Dangote is building refineries to refine products for the Nigerian market? The west african table holds far better benefits than Nigeria, thats a private business consult and we benefit only on the basis of taxation and potential to reduce unemployment by a tiny percent, outside that Dangote is just doing his own business..... |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Nobody: 12:34pm On Jun 12, 2019 |
SillyMods:coming from a walking corpse. |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Tianamen1: 12:38pm On Jun 12, 2019 |
SillyMods: Some things take a long time for their effects to be felt. The recession in 2016 was as a result of poor decisions by GEJ in 2012. When the next mighty recession comes, it will be directly as a result of not increasing taxes, not privatizing wasteful MDA's and not investing in education and healthcare. We are currently spending more than we earn and we have one of the lowest revenue to GDP rates in the world. We have the highest number of out of school children and the highest number of people living in extreme poverty. We are almost completely dependant on crude sales for revenues and foreign direct investment and portfolio investments have also dried up. Our reserves have been built by borrowing dollars at outrageous interest rates and with forward contracts that fix the exchange rate in which we must pay back. Presently, about 60 percent of our revenue is used to pay interests. This year, we may start selling assets and in the next couple of years, if oil prices do not recover, Nigeria would default on its loans. When this happens only God knows how low the naira will fall to and how poverty would further increase. My guy, our rulers are the most incompetent irresponsible leaders on earth. |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by grandstar(m): 1:23pm On Jun 12, 2019 |
natznext: Not possible under this government 3 Likes |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by adedayourt(m): 1:39pm On Jun 12, 2019 |
Lifestone: Seem u av some positively expectant on this second. Bitter truth is d man just gonna maintain the existing status quo den hand over dyer 4yrs |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Lifestone(m): 3:00pm On Jun 12, 2019 |
adedayourt:My broda wetin man go do? Na to continue to be hopeful. I dread the imagination of wasting another 4years of my life. The best thing is to redefine reality. |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by adedayourt(m): 5:31pm On Jun 12, 2019 |
Lifestone: Your 4 yrs can never b wasted as long as u don't get to expect much from dem and u double ur efforts to better ur life. Till well bro |
Re: Nigeria Will Continue To Experience Sluggish Recovery – Fitch by Shikini: 5:34pm On Jun 12, 2019 |
This man is killing Nigeria |
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