Former special assistant to former President Goodluck Jonathan, Reno Omokri has reacted to a recent World Bank report that claimed that poverty increased since President Buhari took over the administration of the country.

Reno, who took to his social media handle to bare his mind said that Nigerians should apologize to Jonathan, perhaps for voting him out of office.

In his words, “Have you guys seen this report from the @WorldBank? Let me break it down. According to the WB, poverty in Nigeria started reducing drastically around May of 2010, when Jonathan became President, and started increasing in 2015. Nigeria owes @GEJonathan an apology!”

Source: http://naijapost.com.ng/2022/03/30/nigeria-owes-jonathan-an-apology-reno-omokri/

Make this man shift.

Rhino

Eat more grass, it helps ur brain heal

No, we don't.

And even if Johnny had won, things won't have changed...

1.NOI was already talking about problems ahead in January 2015..

Nigeria is in an era of forced economic restructuring. This is the type of restructuring whereby you don’t have any choice, but to it. Analysts and columnists have over the years been advising on most of these things, but now we don’t need to advise anybody. Whether government likes it or not, we will have to deal with the issue of the Nigerian economy. We would have to diversify the economy, reduce the size of government and increase investment in alternative sectors whether we like it or not. The oil price is still falling and we don’t know where the exchange rate is heading to. But the reality is that whoever wins the election by February 14, 2015; and whoever comes into office by May, will have to deal with serious economic issues.



The implication of higher exchange rate, higher interest rate, lower GDP growth, is lower consumption and lower purchases of goods and services. So, there are also possibilities of labour issues because both in private and public sector, there may be an inclination towards job losses. So, the outlook is going to be difficult. It is going to be a challenging outlook for managers both in the private sector and in government. For the private sector, this is the era, because I don’t think it is a year, an era of two or three years, in which managers will actually earn their pay because they are going to now have to do their jobs. There is significant uncertainty across variables. Now, there is nothing that can be taken for granted.

SAUCE


2.Nigeria was here before, in the 1980's, because

Corden and Neary (1982) have demonstrated how Dutch disease occurs in an economy. According to them, in a country experiencing "boom" in the export of a commodity, the economy can be divided into three sectors: the "booming" export sector, the "lagging' traditional export sector and the non-export sector. The Dutch disease occurs when the traditional export (tradable goods) sector is crowded out by the booming export sector and the non-tradable goods sector. The lagging traditional tradable goods sector may include cocoa, palm produce, cotton, rubber, coal, copper, textiles and some manufactured goods while the booming export sector may be crude oil, coffee, gold, etc. The non-tradable (non-export) goods sector covers all those goods that are produced for domestic consumption only, e.g. staple food items, clothing, building materials, locally-assembled cars. Where crude oil (and gas) is the booming export sector, the non-oil export sector may be crowded out by the oil sector and the non-tradable goods sector of the economy. This can happen when the oil revenue windfall increases domestic demand for non-tradable goods and pushes up domestic prices leading to an appreciation of the real exchange rate which in turn reduces the competitiveness of the non-oil export sector. This will in turn lead to a reduction in non-oil exports in both quantum and value terms. The oil windfall may also lead to movement of the factors of production in the economy. For instance, capital and labor (and land) may shift from the non-oil export sector to the oil sector (in order to maintain or increase reserves and production) and the non-tradable goods sector (to take advantage of the growing domestic demand). This explains why the increase in oil prices and the subsequent oil revenue windfall in many oil-exporting countries have tended to depress their non-oil export sector while at the same time generating a boom in both the oil and the non-tradable goods sectors. With capital and labor shifting from the non-oil export sector to the oil-sector and non-traded goods sector, firms in the non-oil export sector are forced to either close down or reduce their scale of operation. The boom in the oil and non-traded goods sector increases the demand for imported goods. This may not be a problem in the short-term so long as the country has enough foreign exchange to pay for the imports. The depression in the non-oil export sector and the boom in the other two sectors have medium to long term implications for the economy because the oil windfall will not be permanent given the volatility, unpredictability and exhaustibility of crude oil. For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty

SAUCE

Mr Talk Careless

OK.

ineffectual buffon

Yoruba Muslims miscreants have to appologis to him particular and we the SS people in general

Reno pls STFU!
It is actually Jonathan that owes Nigerians apology.

ignis:
Make this man shift.

Sharap

richiemcgold:
Reno pls STFU!
It is actually Jonathan that owes Nigerians apology.

For what ?

IamWonderful:
ineffectual buffon

TBT, I still don't get why you guys always rejoice at that characterization of a former president by a foreign tabloid just because he's not on your divide.
Just imagine a Nigerian tabloid calling Tony Blair "bloodthirsty idiot". How do you think the British public will receive such?
I think this is another classical case of neo-colonial mentality

sholatour:
Former special assistant to former President Goodluck Jonathan, Reno Omokri has reacted to a recent World Bank report that claimed that poverty increased since President Buhari took over the administration of the country.

Reno, who took to his social media handle to bare his mind said that Nigerians should apologize to Jonathan, perhaps for voting him out of office.

In his words, “Have you guys seen this report from the @WorldBank? Let me break it down. According to the WB, poverty in Nigeria started reducing drastically around May of 2010, when Jonathan became President, and started increasing in 2015. Nigeria owes @GEJonathan an apology!”

Source: http://naijapost.com.ng/2022/03/30/nigeria-owes-jonathan-an-apology-reno-omokri/

Foolish talk as usual

Pg1

No, we don't.

And even if Johnny had won, things won't have changed...

1.NOI was already talking about problems ahead in January 2015..



SOURCE


2.Nigeria was here before, in the 1980's, because





SOURCE

Proshareng.com

Reno Omo criminal is on the task again... Picking a brainless man as his aide is the first mistake of Jonathan and that is by he failed woefully.

Buhari is bad market doesn't make Jonathan a saint.... Jonathan is also a bad market too.

GEJ that allowed corruption thrive in all sectors including security.. where are the CCTV cameras he took billions of Chinese loans to install in the streets of Abuja and Lagos? No be inside people's pockets the money enter??