₦airaland Forum

When we heard our economy has entered recession, most of us gave the “what does that got to do with me” reaction. The few that cared were optimistic that it would end pretty soon and things will get better, they gave us hope that in a few months or so, everything will be just fine. Fast forward to the present day Nigeria, recession is still here, getting stronger.

Millions of Nigerians are currently feeling the heat of “recession”. Some analysts are even of the opinion that aside the recession of 1980-1989, it is becoming worrisome that the current recession may end up becoming the most devastating of all. Considering all indices and abortive attempts by the government to arrest the situation, it’s becoming clear that the government has no idea. No idea of how to make to make the recession stop.

You don’t need a degree in any economy related profession to know the effect of economy recession. Just take a trip to the market and compare the prices of commodity to what it was about six (6) months ago. The price(s) of commodities has gone up by about 300% or even more!

Read more on BuzzAss http://buzzass.com/2016/12/28/can-the-2017-budget-lift-nigeria-out-of-recession/

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Nothing can lift us out of reccession except stable exchange rate 24/7 dollar availability
2-3 naira difference between black market and central bank rate
Nothing will happen until those 2 things are fixed
Just imagine if dollar is available at 305naira 24/7,inflation will reduce to 9 percent within 2weeks
All airlines will return
Businesses will resurrect
People will start importing again
Everything will be back to normal
Our problem is EXCHANGE RATE! nothing else
We need abundant dollar,it must be available 24/7 for Nigeria to get out of recession

To get out of recession, we need
1. Regular and stable power supply.

2.Stable exchange rate.

3. Economically sound team.

4. Technocrats, those who know what to do, how to do what to do, when to act and where to act.


May God bless our leaders with required wisdom.

bettercreature:
Nothing can lift us out of reccession except stable exchange rate 24/7 dollar availability
2-3 naira difference between black market and central bank rate
Nothing will happen until those 2 things are fixed
Just imagine if dollar is available at 305naira 24/7,inflation will reduce to 9 percent within 2weeks
All airlines will return
Businesses will resurrect
People will start importing again
Everything will be back to normal
Our problem is EXCHANGE RATE! nothing else
We need abundant dollar,it must be available 24/7 for Nigeria to get out of recession

Were will the dollars to trade at 305 come from... The cbn should better start trading at 500 jor

mrvitalis:
Were will the dollars to trade at 305 come from... The cbn should better start trading at 500 jor

If CBN sell at 500naira today,black market will somersault to 700 naira tommorow
The official cbn rate is 305
interbank rate 315 at the moment

2017 budget is just a bogus bunch of nonsense. The final verdict is to walk Mr incompetent to Daura.