₦airaland Forum

godson36:
Don't Panic ,, If the Economy fall, It shall Rise again......

This is because our President is not Clueless..... He knows how to handle things.....

Just be watching while our Able President is working.....

God Bless Nigeria

Do u really believe what u wrote or u are just trying to convince yourself.

Goke7:
and where has the so called foreign investments landed us to, has it turn Nigeria to paradise, do you know the high level of corruption that is involved in these foreign investments coming to Nigeria, do you know how much the foreign guys settled your Jona Govt before they could invest in Nigeria? that is why some of those investments has become a curse to Nigeria instead of blessings over time, we keep suffering here while foreign investors repatriate huge sums of money back to to their country with the connivance of Govt officials, no country's economy develop that way bro. How are the SMEs faring so far. Nigeria has been living a lie sir.

So you are seriously coming to an online forum to say that foriegn investment in Nigeria has had no positive impact on the Economy? O boy it's not compulsory that you have to post on a thread and expose the fact that all the money spent educating you was a waste. I advise you to adopt 'Read Only' mode until you get some brains.

omenka:
Na wa oo. Are you sure you understand what is being said here at all They say the economy is shrinking and you are screaming you want to see the evidence of it shrinking on ordinary people since you are tired of seeing just figures. Smh.


@Post: What would one expect when a country vehemently refused to diversify her economy over decades, depending solely on oil, the price of which is below $40 per barrel today? I don't see the "shocker" here. As international oil price goes, so goes the Nigerian economy- simple.

Come on!!!....Jonathan is the cause of this, isn't he

Two faced hypocrite!

Goke7:
are you minding people who think with only half of their brains, how will the economy not fall when a lot of people have been owed salaries for months sef, abi na Buhari owe people salary for months? Purchasing power has reduced and naturally will affect the economy.

However I tell people that the economy of Nigeria is false as we do not know the true value of our economy with the corruption that has been in Nigeria for ages, a lot of goods and services are over priced because of unnecessary inflation caused by corruption.

All those NOI power point statistics she normally thrill most Nigerians except me were all a ruse. Its now with the way FG seems to want to cleanse our corrupt agencies, then we will know the true state of our economy.

I could see you love proof I guess the stock market is a clear evidence, that's if you are involved in the stock market you would really understand with me that Buhari is so pathetically bad in handling this economy for the past 3 months and as such wisdom dictates you get someone who can complement your deficiency. Buhari fails to understand that being a leader is not about knowing everything but rather get the right people for the job as it stands now Buhari has an F9 in handling Nigerias Economy.

bjdon:
An economic council is not the same as a an emergency economic forum, where you would bring in brains form within and outside the country to brainstorm on the way forward and at the end present CONCRETE recommendations for the govt to take forward.
Please get it through your brain, Nigeria is BROKE. When state govts can't pay salaries but for the dividends from NLNG, that is a very worrisome sign. The nation is an economic emergency and yet after almost 3 months in office we don't have any clue on what the govts economic approach will be. I am sure you are aware of how much the Niara has lost value this year. Do you know international analysts are predicting another 30% decline in the Niara by middle of next year?
Look this is not the time of blind support of anybody. The coming economic downturn will be very serve and trust me if your great Buhari is not seen to be doing something about, many of the people cheering him today will be the ones causing him tomorrow. As Bill Clinton and his team used to say in the 1992 election 'It's the Economy Stupid!'

Experts and non experts have been crying out to those who care to hear that the way the previous government had been going will lead us to ruins. That is what we are facing now.

I suspect a further decline in dollars. Even oil price will further reduce to about $35.
I am closing my eyes to your insult and respond to the merits of your argument. If I understand you clearly, "Investors are scared to invest because they are not sure yet what the blueprint of the present administration is"? That said, serious investors will begin to fall over each other as soon as they confirm to themselves that this non compromising stands of PMB is not just initial gra gra. Those other investors who have been stealing the nation blind will either fall in line or look for other countries to milk dry.

Saying that 3 months is enough time to do the ills of more than 36 months is uncharitable.

godson36:
Don't Panic ,, If the Economy fall, It shall Rise again......

This is because our President is not Clueless..... He knows how to handle things.....

Just be watching while our Able President is working.....

God Bless Nigeria

Yeah, our Daura ancestor is not 'clueless'

He is just 'br...less'

Better than 'clueless' I suppose?

Sai Baba Sai Baba Sai Baba,

Ladies and Gentlemen, pls be patient.
It make seem like there is no movement, but there is progress,
There has been changes, look around you, can't you feel it.

In a matter of time, the results you seek will become visible, but in the main time just look at
THE BODY LANGUAGE.

bjdon:
So you are seriously coming to an online forum to say that foriegn investment in Nigeria has had no positive impact on the Economy? O boy it's not compulsory that you have to post on a thread and expose the fact that all the money spent educating you was a waste. I advise you to adopt 'Read Only' mode until you get some brains.

Alright I agree that you are more educated than me, Please can you tell me what positive impact foreign investments have had on our economy? And why do we have the present statistics or have all the foreign investments disappear between May 29 and now?

Please am waiting cos I want to know who indeed has wasted money on education.

I expect zombie PassingShot to come and defend the illiterate Brukutu sipping fool and also blame it on Jonathan.

Joker!

No worries!

" In the fullness of time' .. our economy will improve

If all fails, Buhari's 'body language' and 'no-nonsense' and 'corruption less' stance will fix it!

Case closed..

Nigeria’s real Gross Domestic Product plunged to 2.35 per cent in the second quarter of 2015, compared to 6.54 per cent in the same period last year, the National Bureau of Statistics said on Tuesday.

Gross domestic Product didn't plunge to 2.35%, it is GDP growth that fell to 2.35%

ajepako:
Yeah, our Daura ancestor is not 'clueless'

He is just 'br...less'

Better than 'clueless' I suppose?

Br...less?? Don't you go to school? Cause there is nothing like "br....less" in dictionary..

Dbboy:
I could see you love proof I guess the stock market is a clear evidence, that's if you are involved in the stock market you would really understand with me that Buhari is so pathetically bad in handling this economy for the past 3 months and as such wisdom dictates you get someone who can complement your deficiency. Buhari fails to understand that being a leader is not about knowing everything but rather get the right people for the job as it stands now Buhari has an F9 in handling Nigerias Economy.

Oh Buhari is responsible for what is happening in the stock market? so who was responsible for all that has been happening in the stock market since 2008, Buhari abi? Pls hope is the same Nigerian stock market we are talking about abi una don form another one.

Bringing up the stock market issue where everyone knows what has transpired over the years and trying to blame it on PMB is another joke of the year

"His body language will fix it" that is a new one......

Goke7:
Alright I agree that you are more educated than me, Please can you tell me what positive impact foreign investments have had on our economy? And why do we have the present statistics or have all the foreign investments disappear between May 29 and now?

Please am waiting cos I want to know who indeed has wasted money on education.

Unfortunately if I have to explain to you how firms like MTN and Shoprite have boosted the Nigerian economy by providing direct and indirect employment, if I have to explain such a simple, obvious fact to you, then I am afraid you just don't have the ability to understand.

If your level of thinking is a reflection of the Nigerian Education system, them My God, we are really in dire straits.

bjdon:
My brother the level of IGNORANCE and straight out semi-illiteracy among a lot of Nigerians is truly staggering.

I challenge people to go and compare both Bill Clinton and Obama when they were fist elected. In both cases (1992 and 2008) the US economy was in trouble, during the elections both man put forward their DETAILED economic plans and once they were sworn in they got down to work implementing those plans. During the elections the plans were debated extensively and everybody know the direction that would be followed.
It is clear Buhari has no such plan. In almost three months he has not found it necessary to even convene an economic summit, to bring together talent from business, industry and finance to help give input on the way forward.
Nobody is saying don't fight corruption, but corruption is not the ONLY issue the country is facing.
Obama had to deal with an economy on the verge of collapse, two wars going wrong in Iraq and Afghanistan and the ever present threat of terror on the homeland, as well as fight to keep his promise of health care reform. He focused on ALL of them at the same time and moved forward on all. Multi tasking is what a President does!

Buhari is displaying a worrying aloofness on the economy. All the forecasts are for the price of oil to remain subdued through 2016, he needs to put together an economic team without delay and start to fashion out policies to deal with the coming economic crash.

you made a lot of sense...buhari needs to multi task to move this country forward...they should stop shouting corruption and do the needful...any who has to be probed should be probed while work is going on alongside..

bjdon:
My brother the level of IGNORANCE and straight out semi-illiteracy among a lot of Nigerians is truly staggering.

I challenge people to go and compare both Bill Clinton and Obama when they were fist elected. In both cases (1992 and 2008) the US economy was in trouble, during the elections both man put forward their DETAILED economic plans and once they were sworn in they got down to work implementing those plans. During the elections the plans were debated extensively and everybody know the direction that would be followed.
It is clear Buhari has no such plan. In almost three months he has not found it necessary to even convene an economic summit, to bring together talent from business, industry and finance to help give input on the way forward.
Nobody is saying don't fight corruption, but corruption is not the ONLY issue the country is facing.
Obama had to deal with an economy on the verge of collapse, two wars going wrong in Iraq and Afghanistan and the ever present threat of terror on the homeland, as well as fight to keep his promise of health care reform. He focused on ALL of them at the same time and moved forward on all. Multi tasking is what a President does!

Buhari is displaying a worrying aloofness on the economy. All the forecasts are for the price of oil to remain subdued through 2016, he needs to put together an economic team without delay and start to fashion out policies to deal with the coming economic crash.

Bolded...DOPE!

9jatriot:
Experts and non experts have been crying out to those who care to hear that the way the previous government had been going will lead us to ruins. That is what we are facing now.

I suspect a further decline in dollars. Even oil price will further reduce to about $35.
I am closing my eyes to your insult and respond to the merits of your argument. If I understand you clearly, "Investors are scared to invest because they are not sure yet what the blueprint of the present administration is"? That said, serious investors will begin to fall over each other as soon as they confirm to themselves that this non compromising stands of PMB is not just initial gra gra. Those other investors who have been stealing the nation blind will either fall in line or look for other countries to milk dry.

Saying that 3 months is enough time to do the ills of more than 36 months is uncharitable.

Please I never said Buhari has to solve all the problems of Nigeria in 3 months.
First off please stop with the falsehood that Nigeria's problems have only been caused in the last 30 something months. This country has been totally mismanaged since 1985 when Buhari was last in power.

We need a long term strategic approach to the deep structural problems in the Nation, but we also need short term emergency measures to deal with the current situation. When the Nations main FX earner falls in value by over 70%, that is an emergency. Weather it's all GEJ's fault, or not, is not the point right now, the economy is contracting, soon firms will start cutting jobs, the president has to swing into action NOW.

Within the first 2 weeks in office, Obama has already presented plans for his economic stimulus package. Here we don't even know which direction the govt wants to take on the economy after 3 months. Com on guy, let's be honest with ourselves, this is quite slow.

Happiness87:
i don't blame you.

do you know number of sme's that got their funds from youwin program, what of the money CBN RELEASED For SME's.

the Automobile companies nko, hahaha stop this propaganda it won't fly, even world bank has the statistics of nigeria's economic growth.

Nigerians are wiser, APC is known for lies,

sanusi was kicked out for being partisan, if NNPC had not remitted money, he should have reported duly to president to investigate as he did by inviting PWC.


if the economy is bad, then were are people getting more to invest, if there are no thriving businesses why are they registering with CAC, to pay tax.

YOUWIN was a scam, don't just mention, how many people truly benefited, we all know how things run in Nigeria, how many people got money from CBN, oya publish names of companies who benefited, If truly all these were done, I bet you GEJ would have been re-elected. Nigerians are not fools, GEJ took for us for granted and divided us along ethnic and religious lines all because he knew he could not win fairly. How many Nigerians can afford new automobiles when they have been impoverished by a looting administration, the automobile thing was to satisfy some cronies who were threatened by the tokunboh car business, even banks could not afford new cars for their employees, they started buying tokunboh and the cabal who feel threatened went to GEJ to bail them out which he did with the so called automobile policy and so how many Nigerians can now afford new cars, answer me? so how sustainable is that Policy, has it reduced car smuggling and tokuboh car sales, mhen GEJ was a bad market and the better u guys allow him to enjoy his loot in peace, the better.

Most of the investors in our bad economy are cronies of past administrations of looters and that is why they are all scared of PMB. Companies became interested to pay tax especially in states where the Governors wield the big stick for enforcement, hope you hear. We all knew why Sanusi was kicked out, in fact we know better now, forget your story and stop defending corruption

Goke7:
YOUWIN was a scam, don't just mention, how many people truly benefited, we all know how things run in Nigeria, how many people got money from CBN, oya publish names of companies who benefited, If truly all these were done, I bet you GEJ would have been re-elected. Nigerians are not fools, GEJ took for us for granted and divided us along ethnic and religious lines all because he knew he could not win fairly. How many Nigerians can afford new automobiles when they have been impoverished by a looting administration, the automobile thing was to satisfy some cronies who were threatened by the tokunboh car business, even banks could not afford new cars for their employees, they started buying tokunboh and the cabal who feel threatened went to GEJ to bail them out which he did with the so called automobile policy and so how many Nigerians can now afford new cars, answer me? so how sustainable is that Policy, has it reduced car smuggling and tokuboh car sales, mhen GEJ was a bad market and the better u guys allow him to enjoy his loot in peace, the better.

Most of the investors in our bad economy are cronies of past administrations of looters and that is why they are all scared of PMB. Companies became interested to pay tax especially in states where the Governors wield the big stick for enforcement, hope you hear. We all knew why Sanusi was kicked out, in fact we know better now, forget your story and stop defending corruption

your propaganda sold then, it won't sell again, a soap making factory is opening at ikotun, soon courtesy youwin, i buy bread daily from a bakery who got funds from youwin, multiple people have been employed through sme's sponsored by youwin.

if you like position yourself to take advantage of government policies or join liar mohammed to spread lies, i know he's paying his media mules wella, my journalist friend is on his payroll, so Your lies don't move me, because I know what is going on


as for the automotive, enough of capital flight, if any automobile firms come up, there will be competition and the prices will drop, tomorrow you will still be the one saying Gej didn't set policies to support local firms

banks don't dash out cars, they deduct the money from their salaries spread over 3years

bjdon:
Unfortunately if I have to explain to you how firms like MTN and Shoprite have boosted the Nigerian economy by providing direct and indirect employment, if I have to explain such a simple, obvious fact to you, then I am afraid you just don't have the ability to understand.

If your level of thinking is a reflection of the Nigerian Education system, them My God, we are really in dire straits.

Fine, am even okay with your insults sef, Mr lecturer so why are we where we are now, has mtn and shoprite closed shop? so why are we having a different statistics now in our economy, Please don't tell me because PMB is now in aso rock as people don't go to aso rock to shop or watch movies, that will be the joke of the year.

But seriously mtn and shoprite are still operating so what's wrong with our economy now, why the different numbers now?

Please am waiting as am truly enjoying your lecture

socialmediaman:
I believe the economy will pick up aggressively from October...

Eyaa

I don't usually reply to these silly Buhari GEJ abusing posts, but this is just Ridiculous.

Our GDP growth has been falling since last year when we revised the economy and even the first quarter of this year it fell to just over 3% before falling to under 3% for the second quarter.

Buhari being sworn in May will not affect the GDP fall that much in just 1 or 2 months. That's not how it works. Simple study of basic economics will help here please.

Dbboy:
Some people are talking rubbish here who should we blame if not buhari, when The Great GEJ was there they said he was clueless yet the economy grew at 7% now with there sophisticated du-llard of a president he has set Nigeria back to 2.5% ask any business man now in Nigeria,cash flow in business has reduced yet we are singing praises to this duara man that knows nothing but to make noise about probe, abi na probe we go chop. Let him wake up and come tell us the economic plan he has for us.

SeverusSnape:
Come on!!!....Jonathan is the cause of this, isn't he

Two faced hypocrite!

Much as it pains me, let me respond to this. Never in the history of this country did we earn as much from oil as we did under Jonathan when oil prices at some point hovered above the $150 mark. The windfall was gargantuan!

If your Lord Commander and mentor wasn't the fool he was he would have built structures that would have served as buffers for rainy days given we all know how volatile the international oil market is, but no, he preferred spending all our earnings budgeting billions for feeding alone and hundreds of millions to tend to flowers and Aso Rock pets.

And if you weren't the barrel head you are who understands absolutely nothing but to throw muds at everything with an imprint of Buhari, you would have understood such a simple economic concept.

Now trudge along. I've got too much work to do and I believe you've got lectures to attend to.

Happiness87:
your propaganda sold then, it won't sell again, a soap making factory is opening at ikotun, soon courtesy youwin, i buy bread daily from a bakery who got funds from youwin, multiple people have been employed through sme's sponsored by youwin.

if you like position yourself to take advantage of government policies or join liar mohammed to spread lies, i know he's paying his media mules wella, my journalist friend is on his payroll, so Your lies don't move me, because I know what is going on


as for the automotive, enough of capital flight, if any automobile firms come up, there will be competition and the prices will drop, tomorrow you will still be the one saying Gej didn't set policies to support local firms

Ok sir, and those firms are still in operation after May 29 so good to know, then it means our economy is doing well if the bakery, soap making factory and all others are still functioning, then why is it that when there is an headline that says the economy is falling, you guys run up here to condemn PMB.

Can you see how confused and contradicting you guys are now if all what the firms GEJ supported are still in operation? so why the stress if you are truly enjoying yourself. So can we now agree that our economy is Okay and moved on to solidify it the more.

You can see we are together now and have been fighting over nothing.

In a report released in August the Natural Resource Governance Institute (NRGI), a non-profit group based in New York, found huge anomalies in the NNPC’s workings. To begin with, it ostensibly provides four times more oil to its domestic refineries than they need. It also took part in swap agreements that exchange oil for finished petroleum on eye-wateringly profitable terms for its partners. Moreover, it is allowed to collect income from oil and then to spend freely with no oversight before handing over whatever is left to the government. In 2012 it retained $7.9 billion, or close to half of the value of oil in the “domestic-crude allowance” that was set aside for domestic use, the NRGI reckons.

An audit by PricewaterhouseCoopers found that the state oil company owed the central government as much as $4.3 billion for a 19-month period from January 2012. That is probably conservative. Lamido Saunsi, a former central bank governor, reckons that $12.5 billion was “diverted”.

Since the election of Mr Buhari reserves of foreign currency have been edging up, presumably because officials are pocketing less cash. Yet there would be less opportunity for mischief if payments for oil went straight into government accounts instead of through its own.

Another hole could be plugged, the NRGI reckons, by doing away with the “domestic crude allowance”. Shady swap agreements are being reviewed, but future contracts should be put out to tender. Operating licences awarded to cronies of the previous government should be investigated, and failing state-owned refineries and transmission networks privatised. Most important of all may be to start a proper audit of the NNPC’s books.

Reforms such as independent audits ought not to be controversial, but there are reasons to fear that they may not happen, largely because the NNPC is a rich source of patronage. Its employees are already in talks with their powerful unions over steps they may take to protect jobs. The ruling party, meanwhile, is divided over whether to split up the company.

The oil firm’s troubles underline a bigger concern about Mr Buhari, who was elected in March amid jubilation because of his promises to clean up corruption and govern Nigeria better. Two-and-a-half months after his inauguration he has still not appointed a cabinet, and says he will not do so until September. Nor has he outlined any substantial economic policies. Unless there are signs of effective governance from Mr Buhari soon, the surge of confidence that followed his election may disappear as quickly as the NNPC’s oil revenues have traditionally slipped into the capacious pockets of persons unknown.

http://www.economist.com/news/middle-east-and-africa/21661015-president-vows-clean-up-leaky-state-oil-firm-petrodollar-spill?fsrc=scn/tw/te/pe/ed/petrodollarspill

Goke7:
Ok sir, and those firms are still in operation after May 29 so good to know, then it means our economy is doing well if the bakery, soap making factory and all others are still functioning, then why is it that when there is an headline that says the economy is falling, you guys run up here to condemn PMB.

Can you see how confused and contradicting you guys are now if all what the firms GEJ supported are still in operation? so why the stress if you are truly enjoying yourself. So can we now agree that our economy is Okay and moved on to solidify it the more.

You can see we are together now and have been fighting over nothing.

the report shows fall in investment, simple, which is as a result of having no economic policy direction it didn't say that bakery closed down am still buying

godson36:
Br...less?? Don't you go to school? Cause there is nothing like "br....less" in dictionary..

Guy, you get it jare..

I no go school...

I just look P:hd in view...

lol

omowolewa:
The end justifies the means.
Its too early to critcise Buahri, too late to blame Jonathan.

I agree with you. But it seems some people believe that it's that we should keep blaming GEJ and continue criticizing GEJ, while looking elsewhere once Buhari is mentioned.
Have you noticed anytime Buhari is criticized, you must find someone antagonizing GEJ and hipping all blames on GEJ, while all glory and praise goes to Buhari even for projects or something introduced during Jonathan's government. Then the next is tagging any critique of Buhari as a 'wailing wailer'.

scholes0:
Gross domestic Product didn't plunge to 2.35%, it is GDP growth that fell to 2.35%

I hope you know what contraction of GDP means?

omenka:
Much as it pains me, let me respond to this. Never in the history of this country did we earn as much from oil as we did under Jonathan when oil prices at some point hovered above the $150 mark. The windfall was gargantuan!

If your Lord Commander and mentor wasn't the fool he was he would have built structures that would have served as buffers for rainy days given we all know how volatile the international oil market is, but no, he preferred spending all our earnings budgeting billions for feeding alone and hundreds of millions to tend to flowers and Aso Rock pets.

And if you weren't the barrel head you are who understands absolutely nothing but to throw muds at everything with an imprint of Buhari, you would have understood such a simple economic concept.

Now trudge along. I've got too much work to do and I believe you've got lectures to attend to.

Look at me very well, Do you think I'm a zombie like you and your ilk?

You're paid to defend the Presidiot, There are certain set of people you can hoodwink, not a person like Severus, I have a mind of my own, Your stupid_ illiterate Certificateless terrorist have no idea what is going on, The fool remains a dictator. The economy of this hell hole is plummeting and as usual - like the brainwashed zombie that you are, you're still calling "Jonathan".

Look here you double faced hypocrite, Jonathan is gone, He's no more the president, But the funny thing is that, sometimes, I feel he's still the man at the helm of affairs because of the way you zombies are always mentioning his name. I really love the silence he's giving you people; It's golden.

Conclusively, Please keep blaming Jonathan. Buhari will be there feeling funky, while the country falls into shambles. At least, that will justify what we've been saying for months now. Mtcheeww...

Happiness87:
the report shows fall in investment, simple, which is as a result of having no economic policy direction it didn't say that bakery closed down am still buying

are you aware that we are still in transition? this is the first time we having a ruling party handing over to the opposition party at the Federal Govt. level, which is different from the past where we've just been having change of personalities but the same party. That is what some of you guys fail to understand of which I don't blame anyone cos its the first time. You guys are just too much in a hurry to condemn PMB.

Normally you don't expect any business man to just start investing his money without first understanding the nature of a new party in power, trust me even you yourself will be too careful for that. You can see the various changes in appointments which won't have happened if the pdp was still in power and anybody thinking that PMB shouldn't have changed anybody does not understand party politics which affects economies all over the world and for those comparing us to America, we are still a third world country and all those obama excuse does not hold water at all.

This is the reason for the fall in investment which is only temporary as there are a lot of proposed foreign investment just waiting for the new Government to settle down because of the kind of transition that has just taken place.