Maybe we should blame the immediate administration one more time

CoVID19 ma ro'go o

The poor have always been in recession. So which other recession are you talking about?

Why not when you people are busy stealing from the treasury

Man like Bihari
Your face show baba continue

We are used to it

BeLookingIDIOT:
Igbos are fools!

Hahaha! Ur stupidity is in deja vu, u wil nt stop being tormented.

With the wrong set of people at the helms of affairs, this is bound to happen .

We are not surprised tho because Buhari's failure didn't start today

God forsaken place

Una dey craze. Na wetin we dey before? Awon bunch of criminals gbogbo. Buhari is nothing but a total failure. I shame for him and his family.

I wonder the kind of ministers we have. Since I have follow this woman,she as never come out with a single road map or plan for our economy. What she always do is to announce negative things. As a minister, u r suppose to proffer solutions not telling us about recession or what do u want us to do as you don't know what to do. Please do research and proffer solutions or what is d essence of the economic team. Revive the dying sector and diversify the economy. Shalom

We've always been in recession, may be this is recession pro

This is no longer news,recession flows in the veins of Nigeria as a nation.

GoddyOra:
Then purchasing dollar at the current black market rate @#450-460 is not gonna be a bad investment since nigeria recession equates further naira devaluation??
Any economist in the house should help me out here on this subject.

You should have done so earlier, I don't think they will allow the dollar to slide above 500 naira. But nonetheless, u go make money, but things will still be expensive. This because we are a consumer nation. We input everything, so when naira gets devalued, price of stuff gets higher. This is really bad for people who earn fixed income like salary earners and government workers

Simplyleo:
In this COVID 19 era, no country witnesses economic growth. Even US is not finding it easy.

But, I know ipob miscreants must scream Buharis's name as has been the case since 5 yrs ago.

If it is economic boom that is expected, trust them. Same miscreants will attribute it to something else. That is the macabre dance they have demonstrated in the case of Nigerian Stock Market.

Must you be tribalistic?

The last 4 recessions have we left them?

Every year recession, recession, this December is going to be very dry.

Madam zainab, you are the one leading Nigeria to recession

Nigeria is heading for another recession in the fourth quarter of this year, the Federal Government declared on Friday.

According to the government, findings showed that the country’s Gross Domestic Product for the second and third quarters of 2020 were projected to be negative.

This, it said, implied that the country would slide into a second recession in four years.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the country’s real GDP had been projected by the National Bureau of Statistics to contract by 4.2 per cent in 2020, as against the previous projected growth of 2.9 per cent.

“Q2 and Q3 2020 GDP growth is projected to be negative, which means that the country will lapse into a second recession in four years,” she said.

She also revealed that the Federal Government’s earnings dropped by about 65 per cent following the cuts in oil production.

Ahmed spoke during a virtual consultative public forum in Abuja where she presented the Draft 2021-2023 Medium Term Expenditure Framework/Fiscal Strategy Paper.

She noted that the economy faced serious challenges in the first half of the year as the macroeconomic environment was significantly disrupted by COVID-19.

According to her, crude price dropped from $72 per barrel in January to below $20 in April 2020, making the $57 crude oil benchmark of the 2020 budget unsustainable.

“The massive output cut by OPEC and its allies to stabilise global oil market, with Nigeria contributing about 300,000 barrels per day of production cuts, resulted in about 65 per cent decline in projected net 2020 government revenues,” the minister said.

She said the revenue reduction was from the oil and gas sector and had adverse consequences on foreign exchange inflows into the economy.

“Unless we achieve a very strong Q3 2020 economic performance, the Nigerian economy is likely to lapse into a second recession in four years, with significant adverse consequences,” Ahmed said.

Ahmed also stated that the Federal Government planned to spend N11.86tn in 2021.

According to her, Nigeria’s monetary futunes would suffer a deficit of N5.16tn because of the government’s projected ability to generate only N6.98tn revenue all in 2021.

https://punchng.com/nigeria-heading-for-recession-in-q4-2020-fg/

AS FAR AS NORTHERN POLITICAL LEADERS REFUSE TO EMBRACE AGRICULTURE AS THEIR OWN MAIN SOURCE OF SUSTAINANCE BUT PREFER NIGER DELTA CRUDE OIL MONEY THEY WILL CONTINUE TO KEEP NIGERIA ECONOMICALLY DOWN.

When the big money manage to come they misuse it and loot the rest.

Many nations are advancing to other source of revenue drive but the other part of the country relax on the black gold whose value is dropping by the day.

Simplyleo:
In this COVID 19 era, no country witnesses economic growth. Even US is not finding it easy.

But, I know ipob miscreants must scream Buharis's name as has been the case since 5 yrs ago.

If it is economic boom that is expected, trust them. Same miscreants will attribute it to something else. That is the macabre dance they have demonstrated in the case of Nigerian Stock Market.

Can you be sensible for once?
If you have nothing to say just read and digest the information

And what's the solution, clueless Minister appointed by clueless president.

GoddyOra:
Then purchasing dollar at the current black market rate @#450-460 is not gonna be a bad investment since nigeria recession equates further naira devaluation??
Any economist in the house should help me out here on this subject.

recession does not necessarily lead to currency devaluation. Other factors have to be considered.

Prechgold1180:
Now I know why Nigeria national anthem ends with so help me God

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Nigeria has been in recession since 1986.

but some people are here shouting presidency for our region bla bla bla! They keep forgetting that presidency for ur region does not mean ur region is now Canada!

Nigerian leaders are the same from east to west to north! Same sorry stories. I am currently in Ibadan and there is no much difference between this place and other places I have visited in Nigeria.. same sorry stories: dirty environment, unorganized citizens, poor electricity, scattered markets, noise, poverty, wasting youths, no water supply, generator noises up and down, people building houses any how without care, etc. Same story from east to north!

But Nigerian youths are ready to fight for presidency for their region and mock other regions. Nigerians are special creatures who are in love with their oppression and system!

I saw how some people liked lagos state picture the yesterday when they compared cities across the world.. But people think development is all about fine fine buildings! Sincerely, Nigerians no understand:

When u have no water supply, u have no electricity, u sleep and wake up with noise across the city coming from generating sets, when u cant dial a security service number and get them to ur place for emergency, when u cant dial a health care service and get them to help u! When u get to hospitals and u are left with wack infrastructures, when u travel by road and get punished by bad roads or get kidnapped for money ritual,

when u are scared of being raped etc. Dear Nigerians, development is not by political appointments for ur region! Development is not by having the presidency for ur region, else Northern Nigeria would have become the Canada of Africa!

Development is not by having tall tall buildings when ur politicians are above the laws and u cant get the police to work for u becus u know no body!

Wake up youths, ur leaders have cheated u enough!

Simplyleo:
In this COVID 19 era, no country witnesses economic growth. Even US is not finding it easy.

But, I know ipob miscreants must scream Buharis's name as has been the case since 5 yrs ago.

If it is economic boom that is expected, trust them. Same miscreants will attribute it to something else. That is the macabre dance they have demonstrated in the case of Nigerian Stock Market.

Kiddinpoh:
What else do you expect when you have clueless and retarded grown ups as leaders? We aren't ready yet!

Chai Dem no even allow simplyleo put cup down before attacking

The redundant coupist keeps breaking own records!

The shithole is a lost cause.

# hushpuppy govt

Simplyleo:
In this COVID 19 era, no country witnesses economic growth. Even US is not finding it easy.

But, I know ipob miscreants must scream Buharis's name as has been the case since 5 yrs ago.

If it is economic boom that is expected, trust them. Same miscreants will attribute it to something else. That is the macabre dance they have demonstrated in the case of Nigerian Stock Market.

I guess it was IPOB that also screamed the recession of 1983.

Pele, that IPOB that impregnated your.mother and ran away really do her strong thing

Why would steal my comment even b4 i drop them

SarkinYarki:
Nigeria never left the previous recession

That's you business, with Crowd 1 I earn euros daily

Simplyleo:
In this COVID 19 era, no country witnesses economic growth. Even US is not finding it easy.

But, I know ipob miscreants must scream Buharis's name as has been the case since 5 yrs ago.

If it is economic boom that is expected, trust them. Same miscreants will attribute it to something else. That is the macabre dance they have demonstrated in the case of Nigerian Stock Market.

Are you still feeding school Children at home with more than 600 million daily.. Yes you are

Shame on you