freedom96:
thank god my fore father is known,it means I have a family.Who is ur fore father?baby factory product

xamuelotu:

drey076:
Nice analysis
Kudos to you

Symphony007:
Why can't some partisan hacks see beyond their nose? Is it not bonkers that the largest economy in Africa does'nt have cabinet ministers or we'll defined policy three months after change of government? It's crazy! Investors are concerned and the economy is in a free fall and who is to blame? "Wailing wailers"!!! South Africa and our other competition in Africa and the world can't belive their luck with the kind of leadership nigeria now has.

mikolo80:
u've conveniently forgotten that they were refused hand over moves two months to elections and y'all egged the former failure govt on. that buhari should not push them. now una eye don come down.

peedeeasobie:
I need to understand something!

You are blaming GEJ's govt for the economic woes but praising PMB for the constant power and fuel supply?

If GEj's govt is responsible for the economic woes, his govt is also responsible for the constant power and fuel supply!

atlwireles:


http://www.premiumtimesng.com/news/top-news/187382-pdp-reps-challenge-buhari-to-publish-jonathans-handover-notes-apc-members-oppose

PassingShot:
[b]This thread is of course a response to this https://www.nairaland.com/2590889/see-what-happening-nigerias-economy

For us to understand and appreciate what the new government has done or not done for the country, it’s very important to revisit the type of economy it inherited from the last regime as enumerated below:

1. The Nigerian economy operates a budget which is heavily skewed in favour of recurrent expenditure (about 90%) against capital expenses (about 10%) as represented by 2015 budget here http://www.punchng.com/news/jonathan-signs-n4-425tn-2015-budget/

Implication of this is that there will be no real development in the core areas that sustain and improve economic development.

2. Nigerian economy is largely dependent on crude export. Even the crude price has fallen below the benchmark price ($53 per barrel) on which the 2015 budget was based. Crude now sells at around $47 per barrel.

3. As at April 2015, the Federal Government of Nigeria had borrowed $4.4bn to pay salaries of its workers for March and April 2015. http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html

4. GEJ met the reserve at $47.7bn in 2010 but still managed to reduce it to $29.6bn despite that crude sold for an average of $100 per barrel (peaked at about $140/barrel). The country’s FR plays a huge role in giving confidence to foreign investors in Nigeria’s economy. The higher the value the higher the confidence in the economy and vice versa.
http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html[/b]

I could go on and on but these will suffice for now.
Now, let’s see OcheJoseph ‘s points one after the other:


Yes, Nigeria will be delisted from Bond Index of JP Morgan. However, it amounts to crass ignorance for any sane analyst to want to blame the government of the day. JP Morgan started the process of reviewing Nigeria’s continued participation in its bond index in January of this year given the fact that we had depleted our FR to an abysmal level while our currency continued to lose values.

For Nigeria to continue to participate in the BI, the conditions given by JP Morgan are very detrimental to our economy. Nigeria will have to devalue the Naira and possibly will exchange for about N350 to a dollar. This will drive up inflation which means cost of imports and even local goods will go up. Cost of doing business will shoot up and productivity will expectedly drop which will eventually lead to massive retrenchment by the companies.

So, should Nigeria have chosen to remain or accepted to be delisted? I wait for your answer.



What do we expect when the FG as at May 29 had not released a kobo towards capital development? The capital expenditure in the 2015 budget is paltry 10% of about N4.5tn and NOTHING had been released as at the exit of the last govt. So what miracle do we expect?




This is too cheap and very misleading. Job losses are a constant part of any economy and if it’s not as a result of a government’s policy or not on an industry-wide scale, you cannot put the blame on the government. Even in the link you provided, it was clearly stated that the layoff was not for any reason of threat or loss as quoted

“One thing that is clear is that Zenith Bank is not under any threat,” the source, who spoke with our reporter on condition of anonymity. “With the current crisis in the banking industry in the country, it is incumbent on any bank that wants to growth to bend backwards to re-strategize and restructure its operations to expand and grow.

Is the OP insinuating that there were no job losses during Jonathan’s regime? Or that every job loss was due to his mismanagement of the economy?




At some point during GEJ’s era, the naira exchanged at above N235 to a dollar. That it trades at N220 currently represents an overall gain from N235/N240. The CBN is on a mission to make it difficult if not impossible, for stolen dollars from our reserves to be easily exchanged or transferred abroad. Besides, the fact is that crude price has dropped and our over dependence on imported goods among others have naturally put pressure on the naira.


The headline reads “Nigerian economy slows in Q2” and not “Nigerian Economy Slumps”, Both are not same and don’t mean same thing.

The quarter 2 referred to represents April, May and June of 2015 and GEJ was in charge in April and May. Does it then make any sense to blame a presidency which was in charge of one month out of three months for the slow down in the growth?

Again, the fact is that the economy would have collapsed completely had GEJ managed to win the last election. The economy was already on a downward slide by the time we voted him out. So, for anyone to attempt to put economic woes that we may currently be experiencing on PMB/VPYO smacks of irresponsible partisanship.



What is the news here? Must Nigeria do business with China or any other country for that matter?
Nigeria will do business with anyone whose policy and business terms and conditions favour her. This is no rocket science.





The loss is as a result of JP Morgan’s delisting and it was definitely expected following the announcement. The loss is not Nigeria’s loss but investors. When investors have gained in the past, was the gain given or shared with the country?

As I said earlier, CBN/DMO/MOF and Nigeria as a whole has taken the right decision to stand up to JP Morgan’s manipulative tendencies. We cannot because of foreign or even local investors accept conditions that could bring the country to its knees.


If anyone needs to use their brain, it’s you and your co-travellers.

You lots preferred we continue with a failed president/government. You wanted us to continue with a regime that could not manage surplus and bounty harvest in times of scarcity. You wanted us to continue with a government which recognized stealing as the norm. You wanted us to continue with a government of wastes; a government that placed militants above law abiding citizens; a government that couldn’t guarantee security such that a portion of the country was in control of some rag tag terrorists.

Buhari ison a mission to stop the bleeding the economy was going through. He is on a mission to prevent a very bad situation from getting worse. He is on a mission to restore our lost glory, sanity, accountability and pride where STEALING WILL BE SEEN AS CORRUPTION.

May God continue to guide President Buhari & VP Osinbajo aright
May Nigerians prosper better under his selfless leadership

CC: Lalasticlala Seun Obinoscopy

hinwazaka:
That's what Buhari and his finance minister told us in 84 about SAP.

mikolo80:
it says 7 killed by Anna blast. I hope this is not what ure caring ur arguments on.some third rate site

atlwireles:


So you did not read about your handover notes? You called premium times a third rate site, I like that.

mikolo80:
should I send picture of the site attached to that link so you see it yourself. copy and paste if you're sure of yourself

atlwireles:


That's the link and content below.

http://www.premiumtimesng.com/news/top-news/187382-pdp-reps-challenge-buhari-to-publish-jonathans-handover-notes-apc-members-oppose.

The House of Representatives has asked President Muhammadu Buhari to publish the handover notes of former President Goodluck Jonathan in the official gazette of the federation.
The resolution,Tuesday, at resumption of plenary after a recess, followed a motion by Uzom Nkem-Abonta who observed that only officials of the presidency have access to the document at the moment.
Mr. Abonta however noted that “some extant laws may place restrictions on the publication of the document” even though it is a public document.
He stated, “Handover note would expectedly have captured the activities, projects, programmes achievements and constriants of thr last administration, including counsel to the new administration on the way forward.”
Mr. Abonta said the publication would help the legislators, especially new members, and members of the public have authentic information about the state of the nation and monitor the activities of the government.
Without having the document, the legislators may not be able perform their functions “effectively”, he added.
The House therefore resolved that the President Buhari should “publish, in the official gazette of the federation, save for information restricted by law, the Handover Note and the accompanying documents of the Administration of former President Goodluck Jonathan to enable interested Nigerians and other residents access it for information and record purposes”.
But before the resolution was reached through voice vote, some members, including All Progressives Congress duo of Femi Gbajabiamila and Pally Iriase, opposed the motion.
They argued that the motion was needless since there is Freedom of Information Act with which the document can be accessed.
As alternative, Mr. Gbajabiamila urged Mr. Abonta to present a bill that would lead to promulgation of a “National Transition Act” that would inculcate all issues regarding transition and handing over.
But Aminu Shagari, T. J. Yusuf, and Leo Ogor supported the motion, emphasizing transparency.
“What we saying is that let the truth be told to Nigerians,” Mr. Ogor stated.

lawanson44:


GEJ had a Finance Minister with INTERNATIONAL EXPERIENCE who was still keeping our ailing economy afloat while working on modalities to revamp it! But the Nought and South-Waste out of sheer hatred and bigotry decided to vote GEJ out and elected an inexperienced "Body Language" Abokii into power who has no clue of whom to bring in as ministers to form his cabinet and hiding under the disguise of "Wanting those who are not Corrupt" to form his cabinet! Wake up and smell the coffee Mr Man!

mikolo80:
so what's your point. it's dated September 11, today.how does that concern two month delay by former govt

sammhi:


your analysis is too skewed to your political lining. PMB is planing to effect gpod and sincere change but element like you will not t allow him see truth.
your naira at 200 to dollar does not support your economic realities but more of political expediency.
China recently devalue their currency ...when they are no 1 economy in the world.
currency devaluation has both positive and negatives.
however, its major advantage is to stimulate industrial growth and foreign investment.
please lets be honest to ourselves and stop misleading gullible and mostly ignorant Nigerians and the sincere PMB

bushdoc9919:


I could say the same about oil boom era ....back in the 1970's.

The problem was....no self sustainability.

Plus...all them industries....we are still importing the parts from abroad and assembling them in Nigeria. You can do that if oil price is high...but once it drops....it becomes a lot difficult.

As for construction.....why won't it boom....when we had lots of oil money flowing in due to high prices. Now....what is going to happen with low oil prices.?

What Nigeria needs is an economy not dependent on the rise and fall of oil prices. We should forget about oil.

lastpage:



STOP being a phucking Eediot .....and stop lying.

I applied to CBN to pay some foreign "obligations" and filled necessary form M with evidence of the "genuine intention" of what l want to do with the forex (not using stolen loot to buy a Ferrari with a VISA Card, that is not part of it!)

It was approved ASAP and FOREX approved.

Stop deceiving yourself in you fall into the category of economic saboteurs, the present regime is out to cripple thieves like you....
..and like Mc Donalds, "Am Loving It"!



Lastpage!

otil1:
Voodoo economist. Pls try harder.

I am in d UK on visit and for the first time since current democracy, Nigeria is rationing foreign exchange. In Feb, one could buy a Ferrari with a Naira debit card, once u have d cash in ur account. Today, every debit card is rationed to $300 a day. Many families can't pay school fees, and medical bills.

Very soon, we will start queueing for essential commodity cos importers don't have dollars. Just like it was before Buhari was kicked out last time.

Let's pray it doesn't get to that again.

drss:
all this amala economist no get job at all. how will this write up change the fact that zoogeria lost $6 billion, 60,000 construction job lost, 1200 banking jobs lost, food prices rising rapidly in d last 4 months due to buari's olodoness and dullardness. no fertilizers for farmers again.

atlwireles:




This report from July 28, 2015 by Adebayo Hassan

bushdoc9919:
It is a good analysis by the OP.

But the OP and is praise singers and detractors miss one crucial point.....i mean crucial question.

What is the next step.

Well.....for me it is simples. Austerity government.....with removal of subsides, and probably cuts in the govt size and expenditure.

Then investment in industrial development.....and education.

That is why.....PMB better tell us who his finance minister is....and what his or her marching orders are.

neocortex:
You never disappoint passingshot,
all you are capable of is blame.

GEJ for all the woes of your clueless god,
I thought you will come up with meaningful
rebuttal and the best you can do is blame
an outgone government rather than admitting
the failure of Buhari who understands nothing
about economics.
SMH.

Keep up the good work, your 5K will soon be
ready.

philips70:
Passingshot, I salute your sagacity and patience in dealing with these unrepentant followers of the cursed lot.
I just left Portharcourt, the SS/SE headquarters of the Wailing Wailers. Almost laughed my head off seeing and listening to wailings of different shades everywhere I went. Also saw some reasonable ones who were wondering where all the power they now enjoy come from. Some asked if the UK now supplies us electricity. All the drivers who took me round were just full of curses for GEJ and the gang who made them buy fuel at exorbitant prices all these while but wonder what happened when they can just drive into any gas station and buy same fuel at N87 as at now. They swore on their grannies grave they will stone GEJ, Okonji E-wailer and Die-zani whenever they find their way to PH.

Like Omojuwa told the wailers in his tweets, anyone who is not happy with Buhari should ignore PHCN and keep running his or her generator and should insist on paying N120 for fuel in the gas stations.
Evil people!
And I end this by saying NEVER AGAIN!

PassingShot:

On the contrary, Nigeria is in better hands with full prospects.

The three months past were to lay a different but better foundation for the incoming ministers.

When GEJ ushered in his ministers within two months, what was the outcome? Pains, sorrows, stealing and battered economy.

Chill and see beyond your nose.

SeverusSnape:
The paid Goon again.

Always on time to defend the Presidiot, He's as predictable as a pig within stone throw from a pile of faeces.

@ topic, trash as usual. Trillions of Naira have been lost by investors and this one is here wanking. Buhari as usual has no idea what's going on, That is why we need to see his genuine WASC result, I'm sure he got Z9 in economics not even F9.