₦airaland Forum

Addressing the current economic challenges, Indermit Gill, the Chief Economist and Vice President of the World Bank stated that the suffering is widespread in Nigeria, with children and young people bearing the brunt of inflation, poor education, healthcare, and unemployment.

Mr Gill said Nigeria’s reforms from 2003 to 2007 were exactly what was needed to turn the economy around, but they were not sustained. “During those four years, Nigeria implemented fiscal and exchange rate reforms. It introduced unprecedented transparency into the recording and allocation of oil revenues. It renegotiated its Paris Club debt, which had created this debt overhang that was choking the economy, and the payoff was immense and immediate.”

He lamented that the federal government’s fiscal, monetary, and exchange rate reforms are hurting everyone, especially ordinary Nigerians, who are struggling with high food and transportation prices.


https://www.youtube.com/watch?v=hhGSzOpqU1E

“So, oil wealth should be used for the welfare of all Nigerians, as it has been used to benefit just the elite for too long. The elite are also being hurt by these reforms that started last year, but they have done very well in the past, and they have built substantial buffers. The ordinary Nigerians are being hurt even more.

You will still see the hungry poor supporting the elites stealing from the people since their days in Iragbiji

So, pathetic

vanbonattel:
You will still see the hungry poor supporting the elites stealing from the people since their days in Iragbiji

Yet the same poor downtrodden masses are the ones collecting Maggi, indomie, George wrappers, and miserable peanuts to defending these crooked and corrupt elites

Anything to exterminate the thieves is welcomed

Sadly, this excludes the minions on Nairaland passionately defending their oppressors for peanuts.

The moderators of this forum are complacent in deceiving the masses. This thread should have been on the front page by now.

Yes nah that is how Nigeria was designed immediately the British handed over the power.

What a sorry case

Resurrection212:
Yes nah that is how Nigeria was designed immediately the British handed over the power.

What he is saying is that, what Nigeria is doing is what Norway did in 2014 and today their GDP per Capita is above $100, twice that of UK and bigger than that of USA. And we need to stay on this course for another 10-15years to be able to get an economy that will match those of developed nation, but there will be pain from inflation.

So we have to choose between long term goals and short term goals. The long term goals has great benefit in the future but excessive suffering will come first while the short term goal will help us put food on our table today but Nigeria might collapse in the future.

The big question now is, can Nigerians endure the hardship?

Very clear

richmond500:
What he is saying is that, what Nigeria is doing is what Norway did in 2014 and today their GDP per Capita is above $100k. And we need to stay on this course for another 10-15years to be able to get an economy that will match those of developed nation, but there will be pain from inflation.

So we have to choose between long term goals and short term goals. The long term goals has great benefit in the future but excessive suffering will come first while the short term goal will help us put food on our table today but Nigeria might collapse in the future.

Omo I have blasted this innocent man at a one useless headline they moved to front page yesterday...God bless this man for saying the truths.

Back to the topic I just wish our local media house can spread this news in our homogeneous language's so our dads and mum can understand maybe next election they will think wisely before voting rogues

Resurrection212:
Omo I have blasted this innocent man at a one useless headline they moved to front page yesterday...God bless this man for saying the truths.

Back to the topic I just wish our local media house can spread this news in our homogeneous language's so our dads and mum can understand maybe next election they will think wisely before voting rogues

I blasted him too. The video chop more than 100mb but I still had to watch it twice, the video gave me little hope

richmond500:
What he is saying is that, what Nigeria is doing is what Norway did in 2014 and today their GDP per Capita is above $100, twice that of UK and bigger than that of USA. And we need to stay on this course for another 10-15years to be able to get an economy that will match those of developed nation, but there will be pain from inflation.

So we have to choose between long term goals and short term goals. The long term goals has great benefit in the future but excessive suffering will come first while the short term goal will help us put food on our table today but Nigeria might collapse in the future.

The big question now is, can Nigerians endure the hardship?

the power bank they are using to power you will soon run low

Lol

ogolemati:
the power bank they are using to power you will soon run low

A Nigerian should Heed this:

It's either you remain in the wailing party or you switch sides to the party of the solutionists.

The world is fast changing and a new world order is here. Learn new digital skills now, there are many of it online. Earn in Dollars, change you own life by yourself as no government will rescue you from the mess we are in.

If you choose to cry, you might end up crying till the day you meet death face to face.
Leave Wailers Club today and join the Self-Development team now as time wait for no man!

Where are the solutionists?

TheTundeMuniru:
A Nigerian should Heed this:

It's either you remain in the wailing party or you switch sides to the party of the solutionists.

The world is fast changing and a new world order is here. Learn new digital skills now, there are many of it online. Earn in Dollars, change you own life by yourself as no government will rescue you from the mess we are in.

If you choose to cry, you might end up crying till the day you meet death face to face.
Leave Wailers Club today and join the Self-Development team now as time wait for no man!

SamGift0817:
Where are the solutionists?

You are one of them, just like me. It all starts with a positive mindset.

Resurrection212:
Yes nah that is how Nigeria was designed immediately the British handed over the power.

It's over 60 years bro!

Stop blaming British for 60 years of your (Nigeria) failure.

You just hit it in the head

samwheel:
It's over 60 years bro!

Stop blaming British for 60 years of your (Nigeria) failure.

It seems you can't comprehend or you are hungry?

samwheel:
It's over 60 years bro!

Stop blaming British for 60 years of your (Nigeria) failure.

Lol

Resurrection212:
It seems you can't comprehend or you are hungry?