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BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% - Politics - Nairaland

Nairaland ForumNairaland GeneralPoliticsBREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% (2845 Views)

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BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by DONSMITH123(op): 10:33am On Aug 31, 2016
The National Bureau of Statistics on Wednesday released the much-awaited Gross Domestic Product figures for the second quarter of 2016 with the GDP growth rate sliding further from -0.36 per cent in the first quarter to -2.06 per cent year-on-year.

The negative growth rate recorded in the second quarter of this year is a confirmation of the predictions by the Federal Government and economists that the country was heading into recession.

A recession is defined as a significant decline in activities across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale retail trade.

The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country’s GDP.

In the GDP report released by the NBS, the bureau said, “In the second quarter of 2016, the nation’s Gross Domestic Product declined by -2.06 per cent (year-on- year) in real terms.

“This was lower by 1.70 per cent points from the growth rate of –0.36 per cent recorded in the preceding quarter, and also lower by 4.41 per cent points from the growth rate of 2.35 per cent recorded in the corresponding quarter of 2015. Quarter on quarter, real GDP increased by 0.82 per cent.”

Cc: lalasticlala

http://punchng.com/breaking-nigeria-officially-recession-gdp-growth-drops-2-06/

Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by SweetLove0(f): 10:41am On Aug 31, 2016
Buhariiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by DONSMITH123(op): 10:42am On Aug 31, 2016
SweetLove0:
Buhariiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii
Change grin grin grin
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by luvinhubby(m):
Self-inflicted economic damage.


APC how market? cheesy
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by Ellidude(m): 10:46am On Aug 31, 2016
Nigerians wanted change. Let them enjoy every bit of it. Next time, they'll scrutinize presidential contenders very very well before voting.

"Once bitten twice shy" wasn't just coined for no reason. The sad fact is that the majority prefer to be brainwashed even though the early signs of incompetence are clearly written on the wall.
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by eejo(m): 10:47am On Aug 31, 2016
Jonathan you are a bless man
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by shakaZuIlu: 10:48am On Aug 31, 2016
no thanks to the bastard illiterate terrorist Daura dullard gworo chewing bastard burukutu sipping monkey presidiot mumuhamado mumuharii commander in thief of useless Buharian arm forces of this useless country coupled with a nonentity charlatan illiterate primary school home economics teacher managing the economy called the useless kemi adeosun the brainless woman.

cc
aresa omenka demdem passingshot midolian ngeneukwenu dropshot modath
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by PaulIdu: 10:48am On Aug 31, 2016
Is anyone still in doubt about Buhari's incompetence? Abi should we blame Jonathan for another 6 months more if that will make Buhari start performing
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by Biafman: 10:49am On Aug 31, 2016
When northerners are in management of the country, that's what you get, so no surprises here.
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by signz: 10:50am On Aug 31, 2016
This is serious bleeding.

Now that its no longer technical but full blown recession, what are the FG's plan?
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by DONSMITH123(op): 10:53am On Aug 31, 2016
Ellidude:
Nigerians wanted change. Let them enjoy every bit of it. Next time, they'll scrutinize presidential contenders very very well before voting.

"Once bitten twice shy" wasn't just coined for no reason. The sad fact is that the majority prefer to be brainwashed even though the early signs of incompetence are clearly written on the wall.
gbam.
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by shakaZuIlu: 10:55am On Aug 31, 2016
grin
revolution is the answer since we're not in military regime to hope on a deliverance coup.

ibb we need your second coming Buhari is killing us.

Thunder scatter Buhari Insha'Allah amin



cc
Omenka demdem passingshot midolian ngeneukwenu dropshot modath
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by Trut(m): 10:57am On Aug 31, 2016
Dividend of CHAIN grin
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by RuggedArab: 10:58am On Aug 31, 2016
Nigeria will surely rise again!
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by Splashme: 10:58am On Aug 31, 2016
[size=20pt]O! Nigeria my country.
[/size]
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by VampireeM(f): 10:59am On Aug 31, 2016
Lol.. Not suprised.. Never expected any improvement from the govt that rode to power on Lies and Propaganda.. it amazed me how educated peeps went ahead and voted a man(dullard) who couldnt develop himself throughout the years and expected him to perform..

Funny enough most of those that voted the change are wailing more
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by SweetLove0(f): 10:59am On Aug 31, 2016
DONSMITH123:
Change grin grin grin
If i hear lipsrsealed
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by shakaZuIlu: 10:59am On Aug 31, 2016
Ellidude:
Nigerians wanted change. Let them enjoy every bit of it. Next time, they'll scrutinize presidential contenders very very well before voting.

"Once bitten twice shy" wasn't just coined for no reason. The sad fact is that the majority prefer to be brainwashed even though the early signs of incompetence are clearly written on the wall.
most of yorubas that helped in bringing this hopeless useless, worthless, incompetent, docile and dumb administration to power saw the election as igbo vs yoruba thing they know deep inside themselves that Buhari is a certified kunu sipping dullard with fura d'nunu and roasted suya infested brain


cc

gbawe modath
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by thesicilian: 11:01am On Aug 31, 2016
This is just the beginning.
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by DONSMITH123(op): 11:01am On Aug 31, 2016
VampireeM:
Lol.. Not suprised.. Never expected any improvement from the govt that rode to power on Lies and Propaganda.. it amazed me how educated peeps went ahead and voted a man(dullard) who couldnt develop himself throughout the years and expected him to perform..

Funny enough most of those that voted the change are wailing more
My dear, the Government has failed woefully, and there is no two ways about that. APC led government lack Economic plan and until they wake up from their dreams and realise that campaign is over, nothing is gonna happen.
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by chemicalDisease: 11:02am On Aug 31, 2016
Buhari ooh!

Singing to Buhari....

Ancient of days
As old as u are x2

You will never change!
x2
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by shakaZuIlu: 11:02am On Aug 31, 2016
destroying Buhari psychologically and emotionally is a task everyone should embark on if you still want a better tomorrow.

all hands must be on deck to destroy this monster before it destroys us completely .

let the world see the useless kunu drinker from Daura without brain killing his country and may Buhari receive Sadam, ghadafi treatment Insha'Allah amin.
Thunder scatter Buhari Insha'Allah amin


cc
Omenka demdem passingshot midolian ngeneukwenu dropshot modath
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by DONSMITH123(op): 11:03am On Aug 31, 2016
Splashme:
[size=20pt]O! Nigeria my country.
[/size]
My fantastically Nigeria grin grin grin
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by shakaZuIlu: 11:03am On Aug 31, 2016
lalasticlala obinoscopy
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by DONSMITH123(op): 11:04am On Aug 31, 2016
Now Where lalasticlala sef?

Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by shakaZuIlu: 11:06am On Aug 31, 2016
thesicilian:
This is just the beginning.
the hopeless cursed primary school home economics teacher managing the economy called kemi adeosun product of incompetence and quota system should be ashamed of her useless self.

i wonder who compared that trash to Dr Iweala

as usual yorubas taught it's igbo vs yoruba thing cheesy
i pity them
suffering and smiling
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by ificatchmodeh: 11:08am On Aug 31, 2016
Okay
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by DONSMITH123(op): 11:09am On Aug 31, 2016
shakaZuIlu:
the hopeless cursed primary school home economics teacher managing the economy called kemi adeosun product of incompetence and quota system should be ashamed of her useless self.

i wonder who compared that trash to Dr Iweala

as usual yorubas taught it's igbo vs yoruba thing cheesy
i pity them
suffering and smiling
That position is too big for Kemi to handle.
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by Emekamex(m): 11:09am On Aug 31, 2016
Buhari will be better off attending to his cows, managing an economy is not his specialty.

Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by luvinhubby(m): 11:10am On Aug 31, 2016
What do you expect when inflation is at 18%, currency value has fallen by over 100% & disposable income has completely vanished, this is just the beginning, the figure will reach almost -6% negative GDP before the year ends.

God please help us.
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by Ellidude(m): 11:11am On Aug 31, 2016
shakaZuIlu:


most of yorubas that helped in bringing this hopeless useless, worthless, incompetent, docile and dumb administration to power saw the election as igbo vs yoruba thing they know deep inside themselves that Buhari is a certified kunu sipping dullard with fura d'nunu and roasted suya infested brain


cc

gbawe modath
For a very prominent position as the presidency, sentiment only act as an agent for making unwitty decisions as to who is fit for the task. If Nigerians can only for once forget about being inclined or loyal to a single party and vote for content rather than popularity, we can at least vote in someone who can best act in for such a position.
Re: BREAKING: Nigeria Officially In Recession, GDP Growth Drops To -2.06% by VampireeM(f): 11:16am On Aug 31, 2016
DONSMITH123:
My dear, the Government has failed woefully, and there is no two ways about that. APC led government lack Economic plan and until they wake up from their dreams and realise that campaign is over, nothing is gonna happen.
i'm proud of you Don.. smiley
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