TheGoodJoe:


If Saudi Arabia wasted their Crude Oil Boom like us, they will be in recession now. We wasted ours and drove ourselves into more debt.

Within $50+, NOI borrowed to pay Salaries. We were already in a mess, no matter how you try to blame President Buhari.

TheGoodJoe:


These companies operate with FX reserves. The so called rise in Unemployment and companies moving out are the result of us saving our reserves.

We do not have enough to sustain Subsidy. Hon. Ibe Kachikwu got the Foreign importers to share the burden.

The recession was already on when we were selling Crude at $100 a barrel. Yet we were borrowing and depleting our reserves.

If you get this, you will see President Buhari's policies did not create a recession.

AntiWailer:


The Govt and CBN is expected to bail the banks out when they have liquidity problems.

Does it make sense for them to still hold Govt funds and when they eventually face same challenges like other banks did we still add more Govt money to ensure they float.

The major impact on banking is not TSA but the crash in oil price.

Most bankers know their main profit makers are the guys dealing.

How do we get forex when the amount of dollars gotten from crude oil sales has reduced DRASTICALLY!

Banks even fund oil and gas sector projects and get huge returns on investments.

The oil price has a ripple effect and it affects SAUDI ARABIA as a nation 2.

jbcul4ril:
here you goA recession is a general downturn in any economy. A recession is associated with high unemployment, slowing gross domestic product, and high inflation.

Economic Recession Definition

Economic recession is a period of general economic decline and is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market. Generally, a recession is less severe than a depression. The blame for a recession generally falls on the federal leadership, often either the president himself, the head of the Federal Reserve, or the entire administration.

Factors that Cause Recessions

High interest rates are a cause of recession because they limit liquidity, or the amount of money available to invest.

Another factor is increased inflation. Inflation refers to a general rise in the prices of goods and services over a period of time. As inflation increases, the percentage of goods and services that can be purchased with the same amount of money decreases.

Reduced consumer confidence is another factor that can cause a recession. If consumers believe the economy is bad, they are less likely to spend money. Consumer confidence is psychological but can have a real impact on any economy.

Reduced real wages, another factor, refers to wages that have been adjusted for inflation. Falling real wages means that a worker's paycheck is not keeping up with inflation. The worker might be making the same amount of money, but his purchasing power has been reduced.

Recessions and Gross Domestic Product

An economic recession is typically defined as a decline in gross domestic product (GDP) for two or more consecutive quarters. GDP is the market value of all goods and services produced within a country in a given period of time. An example of one type of GDP would be the value of all the automobiles produced within the United States for one year. GDP only takes into account new products that have been manufactured. Therefore, if a pre-owned car lot were selling pre-owned cars, they would not be included in the GDP calculation.

jbcul4ril:
Unfortunately non of those points can lead to a Recession. Even if it was evening school I went to,i should be able to define Recession. I pity your parents for wasting time and resources on your block heads. If parents could see what you kids post on Nairaland platforms, they will definitely commit suicide.
Lets assume you guys went to evening school but atleast you can read and you use an android phone just google Recession. It will help you know if the above points are it causes or Nigerian propound definition.
I discovered that Sentiment clouds our judgements in this country.
The writer even mention unguarded statement abroad . What will USA now say about Donald Trump comments?

AntiWailer:

Lol.
How will the way it was implemented lead to recession ?
How about typing the way it should be imomemented so we have a more fruitful argument and learn.

AntiWailer:
How will TSA lead to recession

I guess all other oil producing nations to did that.

People come here and craft a losers lamentation in the name of opinion.

If your salary reduces by 60% or more will u continue all the projects u are running and also continue to be father Christmas?

Nigeria's budget is always done with the oil price bench mark in mind.

To think there is any magic anybody can do is brainless.

Yes they blame GEJ because if they had invested heavily in infrastructure during the oil price boom and not just stealing it, there will be a lot of things to fall back on.

obailala:
Bro, no need for long talk. Life can never remain the same for a struggling man if he suddenly loses over 60% of his routine income. No amount of FDI can perform any magic to print dollars or to match the lost 60% revenue overnight. Oh yes! Oil price has been used as an excuse for too long, but the fact remains that this 60% loss in revenue can never be overemphasized.

obailala:
So you think buhari ordered the increase in prices?

ba7man:
Scarcity drives up prices.

Import is low because there is little amount of dollars to fund our import based lifestyle where we import everything.

Prior to the mopping up of the dollar from the system, CBN had approximately $600 million left in its coffers......... at the rate we were going, there won't be any left by now.

Smart people are already adapting.

I used to buy Spanish, chinese, Dubai tiles in the past, I go to the markets now and find out there's a sudden influx of made in Nigeria tiles.

If they had sat around blaming Buhari, they won't be where they are now. I

MissMorayo:
You guys should learn to shun sentiments for once when commenting, the current Railways commissioned by the FG was started under the last tenure. The proposed Rail way from calabar to Lagos was opposed by southern senators sef,but we pray the can execute it Haba

WhoRUDeceiving:


Yes, but look at who's who in SE..Theo Orji in senate after doing nothing for 8 years as gov, and his crony Ikpeazu is there doing nothing. Same in Ebonyi, Imo, etc. So how can your rivals take you serious when you cannot even find a way of making leadership in your region accountable to the people.

Furthermore, how did that woman in Enugu government house become governor? Clearly he thought he was gonna sail right through for 4 years until the Fulani cattle friends messed up the game plan.

QuotaSystem:


Nope. The North is the Presidents primary constituency and I'm sure you realize he doesn't get excited at being called a parasite or his region blamed for holding the country back. The North is too big and blessed (manpower, minerals, agriculture, political acumen) to be lagging behind other regions in this country. That must change.

Furthermore, it is his duty as you rightly stated, to ensure the entire country moves forward and if that is to be possible, extra attention must be paid to region accused of holding the rest of the country backwards so we can all move forward. Abi?

Regarding my last paragraph, use your tongue to count your teeth.

GoldenJAT:
make we no quarrel bro! just that.... most nairalanders here are really immatured and before u knw, will greatly derail d thread. bk to ur question.. we cant say for sure y sokoto was his point of call.. somewhere must b choosen for d visit.. and maybe sokoto was what de wanted exactly. hope u r good?

GoldenJAT:
i have got nothin to say,because there is actually nothin to say concernin it! just stop overheating d polity. Sokoto it was... and Sokoto he went to... John kerry wasnt in nigeria to tour its states.

QuotaSystem:


So you're saying you want to keep heckling the North about its challenges but don't want focus to be concentrated on solving them?

Have President Buhari and his ministers abandoned their responsibilities to other regions just because Kerry visited the North alone?

The fact is the North is set to experience accelerated development in the coming years along with other regions that choose to cooperate with the government; it is a region too big and too blessed to be insulted by other less politically dominant regions. Things must change.

GoldenJAT:
we keep over heating the polity... where ordinarily.. we shoudnt have! seems ur friend isnt that knowledgeable, when it comes to the system of goverment each country practices. books are meant to be read....everythin has been planned out even before John kerry landed in d country.

QuotaSystem:


It's the threat of political domination, which is the threat I alluded to.

To your question. Northern Nigeria is constantly heckled, particularly by the South, for dragging the rest of the country backwards due to its human development statistics which urgently need to be addressed. Why do you now act surprised that the region's development is the priority of the President and his international partners?

Regarding national security (BH,NDA,IPOB), deliberations of that nature are taken in Abuja where Kerry subsequently visited, and not Bayelsa.

QuotaSystem:
It's only natural to feel threatened.

Buhari's many trips that you called junketting attracted tremendous international goodwill and financial commitments for the war against terror and development of the North and so you shouldn't be surprised at Sokoto being the first port of call for the U.S Secretary of State.

spenca:
Do you remember the time he visited the south(Lagos) only ?

Get something to sit in please .

Justcash:
This is, by no means, a direct attack on any political party. It is based on objective observation. If you doubt them, google will help you to establish the veracity of my claims.

These are the areas where Buhari's government has failed hopelessly since he became the president of the Federal Republic of Nigeria;

1. Electric Power Sector

2. Road Construction and Rehabilitation

3. Sports Development

4. Banking Sector

5. Employment Generation

6. Stimulation of Foreign Direct Investments

7. Manufacturing and Technological Development

8. Petroleum Production, Refining and Provision

9. Youth Development

10. National Economic Development

11. Intra-Ethnic Cohesion among Nigerians i.e. Tribalism

12. Protection of Lives and Properties (Especially in Southern Nigeria)

13. Protection of Freedom of Speech

14. Upholding the Rule of Law

15. Sustenance of Separation of Power

16. Decline in Educational Sector

17. Empowerment of Women

18. Religious Tolerance Among Nigerians

19. Holistic Elimination of Corruption in Nigeria i.e. Many Corrupt Party Faithfuls Are Free From Prosecution

20. Sustenance of the Agricultural Revolution

Justcash:
This is, by no means, a direct attack on any political party. It is based on objective observation. If you doubt them, google will help you to establish the veracity of my claims.
These are the areas where Buhari's government has failed hopelessly since he became the president of the Federal Republic of Nigeria;
1. Electric Power Sector
2. Road Construction and Rehabilitation
3. Sports Development
4. Banking Sector
5. Employment Generation
6. Stimulation of Foreign Direct Investments
7. Manufacturing and Technological Development
8. Petroleum Production, Refining and Provision
9. Youth Development
10. National Economic Development
11. Intra-Ethnic Cohesion among Nigerians i.e. Tribalism
12. Protection of Lives and Properties (Especially in Southern Nigeria)
13. Protection of Freedom of Speech
14. Upholding the Rule of Law
15. Sustenance of Separation of Power
16. Decline in Educational Sector
17. Empowerment of Women
18. Religious Tolerance Among Nigerians
19. Holistic Elimination of Corruption in Nigeria i.e. Many Corrupt Party Faithfuls Are Free From Prosecution
20. Sustenance of the Agricultural Revolution