By Dipo Olowookere

Federal government has been identified as the major cause of the slow economic growth rate in Nigeria despite emerging out of recession in 2017.

According to analysts at United Capital Research, the fiscal authorities are not currently moving at the same pace with the monetary authority, which is the Central Bank of Nigeria (CBN).

In a report published on Wednesday, August 7, 2019, United Capital Research noted that since coming out of recession, Nigeria, the largest economy in Africa, has continued to struggle to record an economic growth rate that is above her population growth.

It said as a result of this, there have been pressures on monetary and fiscal authorities to look for innovative ways to spur economic growth while encouraging foreign inflows (FPIs and FDIs).

“On one hand, since the re-appointment of Godwin Emefiele as the CBN governor in June 2019, the monetary authorities have become more pro-growth in its policies.

“This is buttressed by recent efforts to compel banks to lend to the private sector and discourage their massive investments in government risk-free asset.

“On the other hand, the fiscal authorities are yet to roll out a concrete plan to spur growth amid widening budgeted revenue shortfalls as well as the absence of an executive ministerial cabinet,” the report said.

It added that, “Taking a bed-eye view at the above, it could be seen that the fiscal side is currently not moving at the same wavelength with the monetary authority, bringing to question the ability of the monetary authority alone, to change the present narrative of the nation.”

“In all, we believe for this happen, the cabinet must be hurriedly formed and coordinated efforts by key economic authorities, including finance, agriculture, petroleum resources, national planning, trade and investment as well as the apex bank, must be set into motion,” the report concluded.

https://businesspost.ng/2019/08/09/fg-frustrating-cbns-efforts-to-spur-economic-growth/

Somebody will blame Buhari now.

cenaman:
Somebody will blame Buhari now.

who's to blame now?

You don't give what you don't have. Nobody talks about economy anymore... It is to stay alive first.

Not convincing

Buhari why

They use to say 'Nigeria has a long way to go'

But today, obviously there is no way @all.


It's most unfortunate

The man in aso just starving Nigerians

When they don't have a sound minister of finance to come up with good policies to strategies for a firm economy.
Let's see who will take over the post.

cenaman:
Somebody will blame Buhari now.

Who's this??.

OK

Economic principles and theorems does not work on Nigeria

Nigeria can be used to research and discover new economic hypothesis.

Your FG has an inverse or negative relationship with economic growth.

Economic growth takes a conscious effort driven by ideas and strong leadership, and usually, materializes at the long run.

But with the way we are being killed in this country, I have no choice to agree with John Maynard Keynes that "in the long run we are all dead".

So the goal now is actually to stay alive first.

Buhari has surrounded himself with praise singing sycophants in the persons of Secretary of the FG and Chief of staff.

cenaman:
Somebody will blame Buhari now.

who do u want to blame if not d useless fool in aso rock

I recall last month I was having a conversation with a friend who works in the financial sector and I told him specifically that all the growth and so called inflation rates the government spreads in the media are all false and he agreed ... I recall telling him it was only a matter of time before the bubble would burst

Surely now it is happening, blame is being spread and the charade can't be sustained

Propaganda never lasts long , the truth and reality always awakens one in a rather harsh way

We will keep praying for Nigeria

Cheers all

This is true.

Here's an example: CBN introduced the cashless policy, FIRS wants to introduce 5% tax on online transactions.

That proposed tax would kill the cashless policy and reverse it 20 years back.

Cash transactions would skyrocket and robberies would increase just because of the stupidity of the FIRS.

Nigeria is on autopilot

cenaman:
Somebody will blame Buhari now.

So we should blame u?

The minister of finance is the problem .....when adeosun was dere ,at least in her first year it was the monetary policy that was struggling to catch up with fiscal policy ,now its the other way round....

Buhari is an Antelope

cenaman:
Somebody will blame Buhari now.

Are you just stupid or what? So whose blame is ir.? Maybe Sowore?

The praisesingers and sycophants are nowhere to be found they are under the heavy heat of worsening economic conditions.

Stupidmodes:


Are you just stupid or what? So whose blame is ir.? Maybe Sowore?

Chill for the guy nah.. He probably does not know the meaning of fiscal policy

How can our economy grow when we are almost 100% import dependent. It's no rocket science and yet we still feel that armchair policies will solve our problems.

The FG doesn't care a hoot about our economy: all they care about is getting immediate cash to spend even if it entails selling the future of the next generation and enslaving them to China for eternity.

Nyamiri:
This is true.

Here's an example: CBN introduced the cashless policy, FIRS wants to introduce 5% tax on online transactions.

That proposed tax would kill the cashless policy and reverse it 20 years back.

Cash transactions would skyrocket and robberies would increase just because of the stupidity of the FIRS.

God bless you. I was telling my friends that the rate of robbery from 2020 will be worse if they insist to their useless policies.

shadeyinka:
How can our economy grow when we are almost 100% import dependent. It's no rocket science and yet we still feel that armchair policies will solve our problems.

During the other times we recorded economic growth in Nigeria, were we export dependent? The ports are not helping exporters, police and army bribe roadblocks hinder transportation, electricity and multiple taxation kills manufacturing and you're talking about dependence on imports.

Tell me a single step government has taken to encourage exports when Buhari and his son spent the first tenure seeking medical care abroad.

Check my earlier post, I gave a live instance of what economic stupidity by the government can cause and you're talking about import dependency.

Who else is in charge of implementation of the Federal government's economic policy, other than the president? And this one will say he went to school.

cenaman:
Somebody will blame Buhari now.

cenaman:
Somebody will blame Buhari now.

No, we should blame the Sultan or the Obi of Onitsha.

Who doesn't know the FG is inept and useless

All they care about is the welfare of cows


While stupid zombies Who can't afford three square meals are eager to chant sai barber... Pity

Seems the way the country is in shambles , gives buhari orgasm