₦airaland Forum

How did we get to this stage? Definitely successive PDP governments have put us in this mess. I am not trying to justify the slow and very snail speed of this present administration but truth must be told, PDP did this to us.

It is high time the president sits at home and declare a state of emergency in our economy or else.....

bushdoc9919:


To do what?

He will do exactly the same things.

Infact....PDP will be telling us to face austerity (truth...and nothing bad) and you people would be crying!

The real problem is you Nigerians. You do not want to work for your money. You want to share it and import. That is what is destroying our economy. Well now....we can no longer do the same old same old. Oil price has fallen. Better work for your money now.

It's not only that they mismanaged the economy, they stole it to
stupor.

The poor, ill-educated among them don't even know what economics
is all about and they want to delve into it.

It's very sad that, prior to this time, NOI was already canvassing
for austerity measure. It was everywhere on the media.

What happened to $500 Billion in 6 years GEJ was there?
Did he built Abuja, Lagos, or PH anew?

His goverment then earned more than what 6 pasts government
earned, combined

First of all I feel no pity for MTN Nigeria. Make I go back continue dey read wetin you write sef.

As long as the zoo will fall, no problem!!

Okay, it will bounce back

Buhari resign!

Lai Mohammed is handy to blame this on PDP.
Not just him, I have read some people's posts here doing the same thing.

I wonder, and really wonder...
Why blame this on PDP, when someone who contested to be president for three good times (a span of twelve years) ended up being elected in March, 2015 but had to wait for over 6 months before conjecturing who is cabinet members should be.
FIVE MONTHS OF NEGATIVE ECONOMIC POLICIES (aka 'BODY LANGUAGE') has done this to us.
And now that he has finally 'Baba go-slowly' nominated persons to make his cabinet, NOT EVEN ONE ECONOMIC EXPERT MAKES THE LIST.
May Posterity have mercy on all of you that voted in this government.

Every now and then, you will open your 'certificateless' mouth to condemn an economic icon like Ngozi Okonjo Iweala and other certificate holders in the past administration.

I could even pardon those that voted in this administration ignorantly, but for some of you still shouting 'sai baba' in this cirumstance and situation, had you bagged any certification, you won't be this silly again.

basilo101:
Oil price should remain low, enof of dis nonesense wealth without work

Seconded by me

Truckpusher:
Adopt what sort of austerity when the nation has been on natural austerity all this while.

The economy is down and it is only a liberal market approach that can save us now as foreign investors and local investors aren't trusting the policies so far and the ones that are yet to come doesn't look promising at all.
When you run a cranky economy that has refused to allow cash flow thereby generating more cash flow due to the positive outlook of the market the investors will withdraw their excess liquid and due to the fact that Nigeria is already tending towards capitalist driven ideology you can't use a hardline approach and achieve an economic growth that will impact on the lives of the people - All indicators are saying that Nigerian market is slipping into coma and the sudden drop of oil price isn't helping matters here.

Unfortunately, the administration don't want to face the present reality. They are more concerned with their own political gain

bushdoc9919:
And you think that money is enough?

You folks don't get it!!!!

We need far more than that.

And the only way to get it is by ending our reliance on oil. And by becoming industrial. Yes....it includes oil producing states like mine.

Dutch diseased economy.

SAI BUHARI! At least let us start with the $150Billion

since may 29 a lot of nigerians especially in the oil and construction sectors have lost their jobs,every construction company is been owed millions of naira with julius berger been the worst hit,very soon banks will start sacking their workers,it is not easy to manage nigeria's economy wen okonjo was doing so many were in their bed rooms criticising,d same economic crunch that characterized buhari military regime is d same we are facing now,apc is in power and no one is dragging dat fact with dem dey shld pls inaugrate their ministers and start working asap,hard times are really looming in this country

Nigeria is on auto pilot

bushdoc9919:
And what would the economic expert do with the fall in money accruing to the treasury thanks to the fall in oil price?

Nothing much.

(And even if your hero GEJ had saved money like he should have, and had removed the subsidy like he should have ,we would have been having this discussion next year).

What we Nigerians need is a strong austerity govt.We must get rid of our resource dependency at all costs.,.....and the fall in oil prcie offers us a chance to do this. Are we going industrial.....or still doing the same old share the money?

Please tell me you are joking with the bolded, else i wouldn't be wrong if i say you have selective amnesia.

And d Dullard does nt lose sleep over that

Must everything be crude oil this crude oil that in this country. What happened to the mining industry? And I believe there is a ministry for that. Well sha

demandtruth:
It's not only that they mismanaged the economy, they stole it to
stupor.

The poor, ill-educated among them don't even know what economics
is all about and they want to delve into it.

It's very sad that, prior to this time, NOI was already canvassing
for austerity measure. It was everywhere on the media.

What happened to $500 Billion in 6 years GEJ was there?
Did he built Abuja, Lagos, or PH anew?

His goverment then earned more than what 6 pasts government
earned, combined

Now you are right....but here is something you need to understand.

We never had enough money to begin with.

In 1973....China GDP per capita was behind that of Sierra Leone. Now it is way ahead.

What did China do?

China invested in industries. Sierra Leone continued to rely on diamonds and aluminium exports.

Now....here is Nigeria. We rely on oil.We make billions,....and the money goes into sharing.

And he who shares the money wins....plus since money will come, why should we bother about roads, etc?

But with the fall in oil price...perhaps we should spend more on the supporting infrastructure for industries.....and yes, corruption will not thrive...because it would drive away our investors....and stop the goose from laying the golden eggs.

Which way Nigeria? This is what I would be judging Buhari on.

apc change indeed

why did we not been in this situations 2014, if they are the cause of it

IsraeliAIRFORCE:
Which recession? After recovering 1,000,000 barrels of Crude Oil stolen by Jonathan's men on daily basis.

Unless someone convinces me that Katsina Cabals are now stealing the crude and eating fat at our expense.

If I remember, one former minister is begging to return $6,000,000,000 while OBJ and others have returned theirs according to dependable sources in Government.

With $150,000,000,000 waiting to be recovered from foreign banks, Nigeria can't be broke nor can it go into recession.

I trust the people's General

bushdoc9919:
And you think that money is enough?

You folks don't get it!!!!

We need far more than that.

And the only way to get it is by ending our reliance on oil. And by becoming industrial. Yes....it includes oil producing states like mine.

Dutch diseased economy.

Which more?

The three tiers of government shared less than $2b in October and you still think $150 billion is insignificant.

Our Federal budget is $24 billion for 2015

The economy is officially on a recession. If lagos is this quiet how much other cities? A recession will end this government before 2019. Ask Argentina and Greece. Buhari blaming others since time immemorial. Same folks shouting Sai buhari will soon shout stone Buhari when hunger bites cos of a recession.

Agunnewi:
Please tell me you are joking with the bolded, else i wouldn't be wrong if i say you have selective amnesia.

You think all GEJ opponents opposed the removal of subsidy?

There are good arguments for removal of subsidy....which even a few Nigerians, even though we did not like PDP, could see.(A good message is still good even if you do not trust the messenger).

Nigerians opposed subsidy removal because most of them could not see beyond buying fuel at high price.....and recall this was the sixth time in ten years fuel was going up.

Sai babaoooo! Mumus!

Enjoy change to the full

Ma problem with u is dat i talk d way e dey.....God bless u ma broda

TonyeBarcanista:
This is not worth celebrating nor seeking to score cheap political points. I've been worried with the dwindling state of the economy since May 29. My prayer is that we don't delve into recession.


The government need to adopt austerity asap...

The truth is that the cause of this mess is due to the fact that previous government did not save oil windfalls when the oil price was selling above $100/barrel. Saudi Arabia and Russia can devalue their currencies because they have enough reserves. The only way we can survive this is for the government to promulgate policies that would ensure that the country has multiple sources of income.

IsraeliAIRFORCE:
Which more?

The three tiers of government shared less than $2b in October and you still think $150 billion is insignificant.

Our Federal budget is $24 billion for 2015

The money is not enough. Even with careful spending....it will dissipate into tiny amounts once shared amongst 170 million Nigerians.

That is why we must develop industries. The time for relying on selling resources is over.

$24 bn. ? If we were industrial....we could (wildly speaking) go to $500billion or more.!

The most drastical step to take is true federalism. Yes, it would hurt the FG and most states in the short term, but that is the only way of rescue.
I had a bit of hope for Nigeria due to the Confab resolutions, but our northerners have disposed that report.
Leave the oil for the niger-delta, and let the other states no longer waiting for free oil money explore their human and natural resources and maximize them.
That way Nigeria would gradually begin to enter a level of high productivity leading to great national wealth.
Nigeria is wasting too much wealth,potential and time. The FG cannot maximize the enormous natural and human resources on its own.

Why blame this on PDP, when someone who contested to be president for three good times ended up being elected in March, 2015 but had to wait for over 6 months before conjecturing who is cabinet members should be.
FIVE MONTHS OF NEGATIVE ECONOMIC POLICIES (aka 'BODY LANGUAGE') has done this to us.

quote author=OlowoB post=39552464]How did we get to this stage? Definitely successive PDP governments have put us in this mess. I am not trying to justify the slow and very snail speed of this present administration but truth must be told, PDP did this to us.

It is high time the president sits at home and declare a state of emergency in our economy or else.....[/quote]

Xetima:
SAI BUHARI! At least let us start with the $150Billion

Nigeria must industrialise. Selling oil is for weaklings.

Isn't is shameful that in Rivers state,no industry can manufacture complete oil rig?

Or in Kaduna., no industry can manufacture a combine harvester from scratch?

Oh I see. I thought anti-corruption was the solution to all our problems. They have used it to mask the real truth that only restructuring will solve it all. But they don't want that. Maybe they should pray for a meteor strike on the oil fields of Arabia. Juveniles.

Subsistence farming is the way to go under these circumstances

Must everything be crude oil this crude oil that in this country. What happened to the mining industry? And I believe there is a ministry for that.

Why blame this on PDP, when someone who contested to be president for three good times ended up being elected in March, 2015 but had to wait for over 6 months before conjecturing who is cabinet members should be.
FIVE MONTHS OF NEGATIVE ECONOMIC POLICIES (aka 'BODY LANGUAGE') has done this to us.
And now that he has finally 'Baba go-slowly' nominated persons to make his cabinet, NOT EVEN ONE ECONOMIC EXPERT MAKES THE LIST.
May Posterity have mercy on all of you that voted in this government.


quote author=OlowoB post=39552464]How did we get to this stage? Definitely successive PDP governments have put us in this mess. I am not trying to justify the slow and very snail speed of this present administration but truth must be told, PDP did this to us.

It is high time the president sits at home and declare a state of emergency in our economy or else.....[/quote]