Bloomberg has reported that Nigeria’s economy has overtaken that of South Africa.

That’s good news from Nigeria’s perspective. But if you compare Nigeria’s current economy to that of Rwanda, you will find large sad gaps.

1. Insecurity Of Life And Property
Nigeria’s economy is plagued by insecurity. Violence has forced farmers out of their farms; has displaced many from their homes; has made people avoid important business trips that would have oiled the cogs of the economy; has made property rights a joke in many parts of the country.

Compare that to Kigali, capital of Rwanda, where women can walk safely on the streets even at night. Government needs to do more to make the country more secure. The buck stops clearly in front of Government.

2. Over-dependence On Crude Oil
This means that the next slump in the price of oil could send the economy crashing back down to the debts of recession. The Government needs to induce economic expansion through areas like export of beef and dairy products, cars, Aba-made apparels, solid minerals and other exportables. Otherwise, Nigeria’s economic fortunes will remain at the mercy of the price of one commodity.
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It's cool to build castles. But we must build castles with a solid (not a shaky) foundation.

Bad belle

kahal29:
Bad belle

Don't be ridiculous.

Now that we have overtaking SA, why shouldn't we rejoice yet?

Bad Belle is allowed

helinues:
Now that we have overtaking SA, why shouldn't we rejoice yet?

Bad Belle is allowed

we shouldn't celebrate this because we only overtook south african because their economy is doing very badly and not because ours is doing better.
No bad belle here.

Celebrate what exactly ?
Nigeria's economy didn't grow
South Africa's economy slipped
That's the crux of the matter

Is that all?

junketer:
we shouldn't celebrate this because we only overtook south african because their economy is doing very badly and not because ours is doing better.
No bad belle here.

Blame the manager of the economy that is sliding down, give kudos to manager that is maintain her country economy

No insurgency or herdsmen killings yet SA is into recession.. Wondering if they have just that 2, na deadcession for be

Stop being bad Belle

Which useless economy grow, with high rate of unemployment and inflation. Maybe they think all Nigerians are mumu

If the news of ongoing propaganda on Naira devaluation is to go by, then it's too premature to celebrate biggest economy in Africa.

Let's ensure this propaganda does not become reality. Because If it does...it means Nigeria's economic woes will unravel again, 2015/2016 all over. Unstable economy, high inflation, high interest rate, loss of manufacturing system, increase in unemployment, and other economic problems.

Say no to Naira devaluation

junketer:
we shouldn't celebrate this because we only overtook south african because their economy is doing very badly and not because ours is doing better.
No bad belle here.

You are a patriot. God bless you.

helinues:


Blame the manager of the economy that is sliding down, give kudos to manager that is maintain her country economy

No insurgency or herdsmen killings yet SA is into recession.. Wondering if they have just that 2, na deadcession for be

Stop being bad Belle

The average Nigerian has to feel the impact of large economy in their bank account. If most Nigerians don't, then a lot more needs to be done. The eonomic management of the country must not rest on their oars. They must redouble, even triple their efforts to ensure not just a great society, but also a fairer society.

Then, we can celebrate.

How does did reduce the price of rice?.. Yeye write up

babyfaceafrica:
How does did reduce the price of rice?.. Yeye write up

Smh

atmstyle:

The average Nigerian has to feel the impact of large economy in their bank account. If most Nigerians don't, then a lot more needs to be done. The eonomic management of the country must not rest on their oars. They must redouble, even triple their efforts to ensure not just a great society, but also a fairer society.

Then, we can celebrate.

But at least they are balancing the equation..

You guys went Awol when we slidded into recession the other time with no excuse acceptable from you people..

Give kudos to the current government on that except if you are enemy of the nation

I Love PMB

helinues:


But at least they are balancing the equation..

You guys went Awol when we slidded into recession the other time with no excuse acceptable from you people..

Give kudos to the current government on that except if you are enemy of the nation

dude what are you yapping about? Our economy has been one of the worst underperforming economies for the last 5 years. Do you really believe that there has been an improvement with regards to that? Answer is NO. We didn't overtake SA economy but their economy slid below ours.

junketer:
dude what are you yapping about? Our economy has been one of the worst underperforming economies for the last 5 years. Do you really believe that there has been an improvement with regards to that? Answer is NO. We didn't overtake SA economy but their economy slid below ours.

And what are the challenges SA are having for making them slide into recession?

helinues:


But at least they are balancing the equation..

You guys went Awol when we slidded into recession the other time with no excuse acceptable from you people..

Give kudos to the current government on that except if you are enemy of the nation

Yes, we are balancing the equation. But you don't begin to celebrate a victory at half time, do you?
And who are these 'you people' you are talking about??

If you love the current administration, you will speak the truth, wether bitter or sweet to them, or are you the kind of person that will see your friend walking toward a deep pit and be cheering him on instead of advising him to change direction?

That is false friendship and equal to secret enemity. I hope you are not a secret enemy of the nation.