Amberon11:
Pls be enlightened. Its not Buhari's fault that our economic growth plummeted.

Our economy was and is still solely dependent on oil revenue, and since global oil prices fell, it dealt a huge blow to our economy. Even the devil knows that its not Buhari's fault.

YouthsPC0:
Under President Goodluck Jonathan Nigeria became the biggest economy in Africa , with an agricultural revolution powered by our very own Akin Adeshina we saw agriculture topping the list.
Our rails and other infrastructure were caming to life, YOUWIN helped young people with grants to start big and cocoa export reached a 40 year high.
Under GEJ Dangote was kick started the construction of the biggest refinery in Africa so that fuel imports will cease.
Nigeria's economy was the fastest growing in Africa and investors loved it .

Unfortunately under the current voodoo economic policies powered by Buharinomics investors are looking for the exit from Nigeria with an Usain Bolt speed, the impact of Nigerias delisting from several global indexes and platforms is now becoming very clear .

However, despite the fact that the economic hardship is evident in commodity price doubling in our markets blind followers are still urging him on as he leads us to the part if annihilation

This is what the picture looks like

rozayx5:



and what did buhari do to diversify the economy?

he forwarded a fraudulent budget which gave priority to propaganda mnistry over agriculture and welfare over industrial revolution

obailala:
No need for long incoherent stories, Nigeria is a mono-product economy and once this one product becomes worthless, Nigeria's economy becomes as useless as used tissue paper. That oil becoming worthless coincided with the time Buhari took over leadership, that does not mean Buhari is responsible from knocking Nigeria off the fastest growing chart. If you doubt, below is a chart which shows that Nigeria's GDP growth rate dropped from the fastest lane to about a measly 2.3% as at the time GEJ was handing over to Buhari.
www.nairaland.com/attachments/3644660_nigeriagdpgrowthannualforecast_png7bcd23fc337e90b7d2f7cee256a15425

So you are wrong, the fact is that GEJ met a high GDP growth rate, was able to maintain it fairly through his reign BECAUSE oil prices were sky-high, but ended up crashing it to nothing before handing over the rotten economy to Buhari to take all the blame. Anything Buhari and his team can do to salvage this situation can only materialise after many years as long as oil prices remain rock-bottom; so it is pointless pointing fingers at Buhari as the one who crashed Nigeria. Jonathanians don't like the truth though, so I dont expect this to make any sense to them.

deji68:
but the the GDP growth under GEJ than OBJ era 2006-2009, check the chart below...so what do mean by saying he met a high gdp rate...?

obailala:
We are talking of the GDP 'growth rate' here, not the GDP. GEJ inherited a GDP growth rate of between 6-7% but as at handover, it had crashed to 2.3%.
www.nairaland.com/attachments/3644660_nigeriagdpgrowthannualforecast_png7bcd23fc337e90b7d2f7cee256a15425


Regarding the GDP, the value was only rebased (calculated) in 2013/2014 and found to be as high as over $500bn; that doesnt mean it actually leaped to that value overnight. The size of the GDP grew because of the telecommunications industry which was introduced as far back as 2001. That no record of the actual GDP size of Nigeria existed until 2013/2014, that does not mean the over $500bn was made in 2013/2014.

obailala:
We are talking of the GDP 'growth rate' here, not the GDP. GEJ inherited a GDP growth rate of between 6-7% but as at handover, it had crashed to 2.3%.
www.nairaland.com/attachments/3644660_nigeriagdpgrowthannualforecast_png7bcd23fc337e90b7d2f7cee256a15425


Regarding the GDP, the value was only rebased (calculated) in 2013/2014 and found to be as high as over $500bn; that doesnt mean it actually leaped to that value overnight. The size of the GDP grew because of the telecommunications industry which was introduced as far back as 2001. That no record of the actual GDP size of Nigeria existed until 2013/2014, that does not mean the over $500bn was made in 2013/2014.

luvinhubby:


And your people says PDP 16yrs was a disaster.

I see !

obailala:
It could have been much better, we had all it took to blow far beyond this, but these potentials have been continuously wasted. At the end of the day, oil price crashes for a second and what do we get?... we are instantly back to the dungeon.

Fortunately for the PDP and unfortunately for APC, the oil crash and its consequent impact on the economy just coincides with the very moment they handed over to APC; hence knowing that most Nigerians are blockheads, they find it quite convenient to heap the blame on APC, and the blockheads happily swallow this deceit.

luvinhubby:


And your people says PDP 16yrs was a disaster.

I see !

kayfra:
PDP was a disaster. Oil prices weren't.

You see, not rocket science.

luvinhubby:


Finding it amusing when oil price slump is always used as an excuse for APC's inefficiency as if we elected an NNPC GMD to manage oil income for us.

Is oil price responsible for the continuos blackout & fuel scarcity also?

luvinhubby:


PDP govt generated what they spent (looted), APC govt. should generate theirs and loot (spend) also.

rozayx5:
a nice bait for gbawe and he took it



same dude who goes missing in threads that disgrace his illiterate president

obailala:
Blackout is an age long problem which has never been solved by any previous administration to date. Hopefully, something will be done about it soon. Fuel scarcity is also one of the negative fallouts of the oil price slump and forex scarcity.

And oh YES, Nigeria is a mono-product economy, you don't need to be a PhD scholar to understand the link between the crash in oil price and the negative economic situation in Nigeria today.

luvinhubby:


Blackouts was never this bad in Nigeria despite a 40% percent increase in tarrifs.

Did'nt APC know that Nigeria was a monolithic economy before they campainged to dwarf PDP in performance & PDP was able to drive the same monolithic economy to fastest growing one in Africa.

Nothing seems to be getting better this APC govt, absolutely nothing.