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Nairaland Forum / Nairaland / General / Politics / Okonjo-iweala Warns Nigerians To Prepare For Economic Recession (12701 Views)
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Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by koruji(m): 2:23am On Jun 14, 2012 |
By "Nigerians" I think she means Aso Rock and friends in Abuja. The rest of Nigeria has been in recession for very long, especially since, since. . .ah yes, Mrs. Okonjo-Iweala and her friends imposed a draconian subsidy-removal fiasco upon Nigerians. http://www.punchng.com/business/business-economy/okonjo-iweala-warns-nigerians-to-prepare-for-economic-recession/ |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by aljharem(m): 2:27am On Jun 14, 2012 |
of course after increasing the price of fuel. I said this during the fuel subsidy crisis even though I am not an economist neither am I intelligent or educated but I am certain that increasing the price of fuel (economic dependence) to world standard would expose our economy to the variation in the world. This was what I predicted. Now I hope Manny4life would come and explain this. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by AnotherOkija: 2:31am On Jun 14, 2012 |
alj harem: of course after increasing the price of fuel. I said this during the fuel subsidy crisis even though I am not an economist neither am I intelligent or educated but I am certain that increasing the price of fuel (economic dependence) to world standard would expose our economy to the variation in the world. This was what I predicted. Whats been wrong with you lately... I thought you were supposed to be me?! Why do you speak ill of Okonjo without my permission?! Now apologize to Okonjo and say you love her!! 1 Like |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by aljharem(m): 2:36am On Jun 14, 2012 |
Another Okija: LOL Okija juju no kill me o !!! Ok sir I apologise. Okonjo I am sorry o !! courtesy of Okija Anyway I hope you can explain the fault in my post. (still seriously waiting for Manny4life) |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Kilode1: 3:12am On Jun 14, 2012 |
I don't understand, what is the meaning of this "Council" Council approves this, council approves that. Is Council the same as Senate ni? New Visa Policy approved by council?? House of Assembly no go get say? The chaos is too much. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Kobojunkie: 3:32am On Jun 14, 2012 |
So . . . when the global price of Oil falls, Nigeria is likely to fall into a recession? Has this always been the trend? Cause, seems this is new. And what of all the tops of Nigeria depending less on oil? If we are to go by reports, Oil contributes less than 20% of the GDP so why would a fall in oil prices be enough to lead us into a recession? |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by koruji(m): 4:26am On Jun 14, 2012 |
Actually this is not new, and is in fact the entire history of our economy. Yes, oil contributes less than 20% of GDP, but if oil prices continue the current trend it is going to reach about $60 before the bleeding stops - that would be about 60% of what it was over the last year or so - and you know our senators set the budget based on a high oil price. Anyway, all a recession needs is for several quarters of negative growth, and even a 25% decline in the oil price over 6 months is enough to cause that. Kobojunkie: So . . . when the global price of Oil falls, Nigeria is likely to fall into a recession? Has this always been the trend? Cause, seems this is new. And what of all the tops of Nigeria depending less on oil? |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Nobody: 4:38am On Jun 14, 2012 |
Ehn!!! So what kind of economy does Nigerians have? I bet the recession was there before I was even born. 1 Like |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by dasparrow: 5:12am On Jun 14, 2012 |
I am quite disappointed about the so-called new visa policy. So while countries around the world are guarding and tightening their borders, Nigeria is gladly opening hers. I don't know why our leaders can't seem to get it right. How can we boost tourism when there is no security and stability in the country? or do our leaders think the world is not aware that every sunday now, boko haram is blowing people up? How can we attract investors when we still cannot boast of 24 hours of uninterrupted electric/power supply? Our leaders want to copy the west but they fail woefully at it because we are not organized as a nation. Even right now, we have many chinese, lebanese, and indian people in Nigeria who are not skilled migrants and are driving okada or selling in the market place so what happens when we start issuing visa at the port of entry? Foreigners who are conversant with the high levels of corruption in Nigeria will just bribe their way through. Mean while, other nations are busy deporting Nigerians anyhow, lol. We better wake up before we become strangers in our own land/turf/country. It seems we Nigerians don't think about the future. 4 Likes |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by koruji(m): 5:29am On Jun 14, 2012 |
They are wasting their time on nonsense anyway. They think new visa policy can counteract Boko Haram, and all the lack of institution and the stinking corruption!!! Those foreigners probably know more about the truth of what is going on in Nigeria than President GEJ himself!!! dasparrow: I am quite disappointed about the so-called new visa policy. So while countries around the world are guarding and tightening their borders, Nigeria is gladly opening hers. I don't know why our leaders can't seem to get it right. How can we boost tourism when there is no security and stability in the country? or do our leaders think the world is not aware that every sunday now, boko haram is blowing people up? How can we attract investors when we still cannot boast of 24 hours of uninterrupted electric/power supply? 2 Likes |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by supoade: 6:14am On Jun 14, 2012 |
Nigerians are in recession already... i hope this is not another gimmick towards total removal of fuel subsidy. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Murphy7h4: 8:35am On Jun 14, 2012 |
[img]http://www.50centloseweight.com[/img]very nice! |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Nobody: 9:11am On Jun 14, 2012 |
Kobojunkie: So . . . when the global price of Oil falls, Nigeria is likely to fall into a recession? Has this always been the trend? Cause, seems this is new. And what of all the tops of Nigeria depending less on oil? Kobo, you should know our leaders by now. When they say "recession" they are referring to their coffers. Less oil revenue, less money to steal. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Nobody: 9:12am On Jun 14, 2012 |
And by the way, Mr Minister, its buckle "down", not up. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Kobojunkie: 9:15am On Jun 14, 2012 |
koruji: Actually this is not new, and is in fact the entire history of our economy. From my recollection, this is new. In 2008, when Oil prices fell, I believe to about $50 bucks, or there abouts, we didn't get any announcements of this sort. And this happened during the recession in America. In fact, we were told that Nigeria was unaffected by the global recession then. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by damilola15: 9:16am On Jun 14, 2012 |
Let it come. Nigerians are survivors. I remember that terrible hardship during that Babangida/Abacha time, nothing do us. Economic Recession, maybe the banks and those loots would feel it but that we would be thrown into misery like it's happening in America and Europe? No way. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Kobojunkie: 9:17am On Jun 14, 2012 |
dasparrow: Our leaders want to copy the west but they fail woefully at it because we are not organized as a nation. Even right now, we have many chinese, lebanese, and indian people in Nigeria who are not skilled migrants and are driving okada or selling in the market place so what happens when we start issuing visa at the port of entry? Foreigners who are conversant with the high levels of corruption in Nigeria will just bribe their way through. Mean while, other nations are busy deporting Nigerians anyhow, lol. We better wake up before we become strangers in our own land/turf/country. It seems we Nigerians don't think about the future. 1 Like |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Nobody: 9:20am On Jun 14, 2012 |
damilola15: [b]Let it come. [/b]Nigerians are survivors.I remember that terrible hardship during that Babangida/Abacha time, nothing do us. Let what come? Shey recession wey don get first class citizenship? Nigerians are really suffering and smiling. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by dplordx(m): 9:31am On Jun 14, 2012 |
Recession. NOI dey craze! I repeat, shes madt! No light. No security. No money. No good road. No quality education. No good thing at all. Bokoharam all around. Too much corruption! Now this fat hippopotamus is waking up like a vampire to go ahead with pulling off the other subsidy plug when its becoming glaring the masses arent the ones to blame but her useless PDP cabal. Make thunder strike dis wowo monkey die if she ever tries to burden Nigerians again. I hope this women wont end up completely destroying GEJ sha... Na for this yeye regime everything dey hard sotey!!!! 3 Likes |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by lanrefront1(m): 10:48am On Jun 14, 2012 |
I bet if Jonathan and his group of freinds has not defrauded our economy a minimum of 2.7 trillion naira (that the one we know of), the Finance Mimister will not need to be forecasting a recession. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by doctokwus: 10:51am On Jun 14, 2012 |
What does she think d reserves are for;is it just to decorate d vaults of foreign banks.This woman wt all her "harvard degrees",just like Otteh& Aganga obviously bases all her economic theories on textbook stuff,whc are being revised worldwide wt practical realities on d ground.D world now is shifting towards development&growth& not obsession wt balancing of accounts.What nigeria needs is for a substantial part of our earnings(whatever is left after d corrupt class wud av taken theirs) to be used in funding small-medium scale enterprises to stimulate growth,thereby creating employment opportunities for d ever growing number of unemployed,in d process fostering development.If power generation can hopefully be increased,d number of biz enterprises to b created by d vast population shud b enuf to ward off any recession,dats if we are not alredy in one. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by feelamong(m): 11:10am On Jun 14, 2012 |
These people are just funny...what recession are they talking about...About 80% of Nigerians have been in recession for the past 13years!! will this be any worse...He that is ground need fear no fall!! Abeg bring on the recession!!! Maybe by then We shall start having the rich for lunch!! 2 Likes |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by WhoIGoAsk: 1:50pm On Jun 14, 2012 |
way forward?? subsidy?? |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by ebamma(m): 1:52pm On Jun 14, 2012 |
is dis woman really the finance minister of nigeria cos i thought she is the imf and world bank representative for nigeria |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Biggyd2: 1:59pm On Jun 14, 2012 |
@Modarator, please do advise her to let us know if she has something new to tell us. Her people in Aso Rock and many or their predecessors have been bleeding Nigerians dry. It is still a miracle how many people still manage to survive. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Jonwesley(m): 2:00pm On Jun 14, 2012 |
Na today? Cordinating minister, i think she is confused. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by niddamugu(m): 2:01pm On Jun 14, 2012 |
To keep this woman quite - REMOVE THE BALANCE SUBSIDY |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by ballabriggs: 2:03pm On Jun 14, 2012 |
He added, “We are not expecting one; you know that during the last financial meltdown, which crippled most developed economies with negative impacts on developing countries, Nigeria was able to weather through because we were prepared. I laugh when I read such nonsense. Has Nigeria's economy ever blossomed? 1 Like |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by deleo16(m): 2:04pm On Jun 14, 2012 |
Well am not surprise prophesy was give about it before the beginning of the year may GoD help us all |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by Nobody: 2:06pm On Jun 14, 2012 |
This pig-faced and obese woman, again? Where do we find all these educated idiots? The woman is so corrupt, her lips has become saggy.. Useless, and clueless woman, please fix ya saggy lips. Nigeria has been in recession since the beginning of time. |
Re: Okonjo-iweala Warns Nigerians To Prepare For Economic Recession by conyema12(m): 2:16pm On Jun 14, 2012 |
dasparrow: I am quite disappointed about the so-called new visa policy. So while countries around the world are guarding and tightening their borders, Nigeria is gladly opening hers. I don't know why our leaders can't seem to get it right. How can we boost tourism when there is no security and stability in the country? or do our leaders think the world is not aware that every sunday now, boko haram is blowing people up? How can we attract investors when we still cannot boast of 24 hours of uninterrupted electric/power supply? Good post and in addition to that, this stu.pid new visa policy can even allow high profile al queda guys to strengthen boko....chai God forbid.. 1 Like |
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