Ayoefa:


I'm not in thre mood for economic lecture this morning but having said that, I can tell you that oil did not sell for less under Baba Iyabo. Secondly the only countries that did not go into real recession due to the oil price crash are Gulf countries that had substantial savings and had invested seriously when the boom was on.
Countries that you can compare to Nigeria are Venezuela and Angola who had mismanaged their income during the boom and who rely on oil as much as Nigeria. Venezuela is still in recession so bad that even if you have money, you can find food to buy at the super market. Even the oil crash forced many oil companies to close and businesses shut in Oklahoma and other US oil producing States. Oklahoma went from enjoying unprecedented boom to almost ghost town over night.

iamimohtal:


Nice write-up ooo, but when people see u as trash or irrelevant, don't care if u survive or not just because they are in position of power and authority, what do you do ? Praise them for their gross incompetence, knowing very well that constructive criticism don't mean shit to these people. To them our lives are jokes, they be making jest of us. We voice our anger Tru the means you mentioned above and it gives us relief. I don't wish death upon them , I wish worse.

YorubaKinging:
We are at the end times

Please for those who believe
Anything can happen any any moment

Ask for forgiveness of sins and stop the sin

Be it masturbation, fornication, smoking weed, yahoo yahoo..
Sin is sin
God will not understand ...

Lostz:


oil sold for an average price of $16.56 in 1999,$27.39 in 2000, lower than $24 from 2001 to 2004.



Venezuela slide into recession due to the failed economy policies of Maduro, Maduro socialist agenda (like buhari and his agenda) and the US sanctions which freeze most of Venezuela assets, restricting their access to international market.

Angola recession was not only because of falling oil price but because of unnecessary debts.....just like the over $20b unnecessary debt approved by the Nigerian Senate recently...... they have to honor.

the incompetence of buhari drove us into recession. imagine waiting for close to a year before appointing individuals to head various ministries

Emmerlee:

For corona we were not proactive enough.. It's very clear. However this topic is about global economic recession and not COVID19. You guys should stop being extremely stupid.

semyman:
Basketmouth how market, who is more lifeless now?

Yenefer:
It is becoming almost second nature for most Nigerians, both the educated and non-educated classes, to cross the line while pouring out their hearts on national issues. I agree, there are ample question marks on how the President Muhammadu Buhari-led government has acted on and reacted to socio-political, economic, and religious matters; spanning from federal character, insurgency, ethno-religious skirmishes, education, malfeasance, to now presidential invisibility before this coronavirus pandemic.

Naturally, we feel betrayed, used, and insignificant to the presidency. Not paling in comparison to status-quo that should be, your feelings are indeed valid. But letting this emotional pain lead you to hurl insults of all sorts at President Buhari, as rampant online, is an overreaction. As you call him unprintable, reprehensible names and ridicule him through jokes/memes, remember he is fallible, someone's husband, father, uncle, grandfather, and holds office of President of Nigeria. It is enough to beg to differ with and criticize constructively his leadership style plus policies. Using constitutional and moral means to show displeasure are in order. Look emotional intelligence's way.

Disturbingly, some people even wish Buhari death, hoping news of his demise filters in soonest. If that's not a representation of the Scriptures' observation that "The heart of man is desperately wicked," then it must be of something worse. If you fall in this category, kindly stop now! Such comments are humor taken too far.

As events unfold and we watch with disappointment, anticipating the National Assembly does the needful and saves the day, let us (Nigerians) amplify our voices to be critically loud enough, not insulting enough.


©Kaycee Naze,
Rational Pen.

Emmerlee:


It's very unfortunate. A forced nationwide lock-down is what I suggest at this point for one to two months to better manage the situation, otherwise in 3 months from now there may be absolute chaos.

Ayoefa:


1999 $16.56 $25.58
2000 $27.39 $41.02
2001 $23.00 $33.52
2002 $22.81 $32.69
2003 $27.69 $38.84
2004 $37.66 $51.39
2005 $50.04 $66.04
2006 $58.30 $74.59
2007 $64.20 $79.73
2008 $91.48 $109.25
2009 $53.48 $64.19
2010 $71.21 $84.24
2011 $87.04 $99.83
2012 $86.46 $97.17
2013 $91.17 $100.95
2014 $85.60 $93.24
2015 $41.85 $45.55
2016 $36.34 $39.02
2017 $46.27 $43.97
2018 $59.34 $57.77
2019 $50.46 $50.01

Just look up and see the facts -

Yes oil sold for about 17 dollars in 1999 when Baba Iyabo came in, the economy was not in a bad shape when he came in plus the prices went up and up from there. The price of 1999 alone cannot determine the economy for the many years that follows. The prices went up and up especially under Jona.
More importantly, the more the prices went up the more the govt was spending/wasting /stealing hence when it finally crashed in 2015 from $85 to about $36 the govt expenditure was already out pacing income therefore the reason why States were unable to pay salaries..
If Jona and Baba Iyabo had saved substantially and invested in a diversified economy, it would have been easier in 2015 to 2016 to absorb the shock of the crude oil price crash. The money made between 2000 and 2015 is the highest that the country has ever made from oil yet there were no major savings, investments in infrastructure and other capital expenditures. All the major capital expenditures that this govt is now embarking on should have been embarked on while oil was selling for a premium. Oil sold for more than 100 DOLLARS under Jona, pls tell me where are the capital investments to justify such incomes.
Point of fact - when Buhari came in in 2015 there were already fuel lines and States were already struggling to pay salaries.

Nigeria's income went from $86 to $36 dollars over night and you don't expect a recession? Try living on an income of $36,000 down from $86,000 and tell me you will not have serious changes n your life style.

BabangidaHamza:
The US, China, UK, Italy and Spain were more prepared than Nigeria but have more casualties than Nigeria

Yenefer:
It is becoming almost second nature for most Nigerians, both the educated and non-educated classes, to cross the line while pouring out their hearts on national issues. I agree, there are ample question marks on how the President Muhammadu Buhari-led government has acted on and reacted to socio-political, economic, and religious matters; spanning from federal character, insurgency, ethno-religious skirmishes, education, malfeasance, to now presidential invisibility before this coronavirus pandemic.

Naturally, we feel betrayed, used, and insignificant to the presidency. Not paling in comparison to status-quo that should be, your feelings are indeed valid. But letting this emotional pain lead you to hurl insults of all sorts at President Buhari, as rampant online, is an overreaction. As you call him unprintable, reprehensible names and ridicule him through jokes/memes, remember he is fallible, someone's husband, father, uncle, grandfather, and holds office of President of Nigeria. It is enough to beg to differ with and criticize constructively his leadership style plus policies. Using constitutional and moral means to show displeasure are in order. Look emotional intelligence's way.

Disturbingly, some people even wish Buhari death, hoping news of his demise filters in soonest. If that's not a representation of the Scriptures' observation that "The heart of man is desperately wicked," then it must be of something worse. If you fall in this category, kindly stop now! Such comments are humor taken too far.

As events unfold and we watch with disappointment, anticipating the National Assembly does the needful and saves the day, let us (Nigerians) amplify our voices to be critically loud enough, not insulting enough.


©Kaycee Naze,
Rational Pen.

YorubaKinging:
We are at the end times
Please for those who believe Anything can happen any any moment
Ask for forgiveness of sins and stop the sin
Be it masturbation, fornication, smoking weed, yahoo yahoo.. Sin is sin God will not understand ...

Jeferious:
What Shutdown to where? Death itself?

You clearly have no idea of what "shutdown" entails. Lemme enlighten you a bit with a question...."Between coronavirus and hunger backed by abject poverty, which would you fear more?"

Yenefer:
It is becoming almost second nature for most Nigerians, both the educated and non-educated classes, to cross the line while pouring out their hearts on national issues. I agree, there are ample question marks on how the President Muhammadu Buhari-led government has acted on and reacted to socio-political, economic, and religious matters; spanning from federal character, insurgency, ethno-religious skirmishes, education, malfeasance, to now presidential invisibility before this coronavirus pandemic.

Naturally, we feel betrayed, used, and insignificant to the presidency. Not paling in comparison to status-quo that should be, your feelings are indeed valid. But letting this emotional pain lead you to hurl insults of all sorts at President Buhari, as rampant online, is an overreaction. As you call him unprintable, reprehensible names and ridicule him through jokes/memes, remember he is fallible, someone's husband, father, uncle, grandfather, and holds office of President of Nigeria. It is enough to beg to differ with and criticize constructively his leadership style plus policies. Using constitutional and moral means to show displeasure are in order. Look emotional intelligence's way.

Disturbingly, some people even wish Buhari death, hoping news of his demise filters in soonest. If that's not a representation of the Scriptures' observation that "The heart of man is desperately wicked," then it must be of something worse. If you fall in this category, kindly stop now! Such comments are humor taken too far.

As events unfold and we watch with disappointment, anticipating the National Assembly does the needful and saves the day, let us (Nigerians) amplify our voices to be critically loud enough, not insulting enough.


©Kaycee Naze,y
Rational Pen.

Ayoefa:


1999 $16.56 $25.58
2000 $27.39 $41.02
2001 $23.00 $33.52
2002 $22.81 $32.69
2003 $27.69 $38.84
2004 $37.66 $51.39
2005 $50.04 $66.04
2006 $58.30 $74.59
2007 $64.20 $79.73
2008 $91.48 $109.25
2009 $53.48 $64.19
2010 $71.21 $84.24
2011 $87.04 $99.83
2012 $86.46 $97.17
2013 $91.17 $100.95
2014 $85.60 $93.24
2015 $41.85 $45.55
2016 $36.34 $39.02
2017 $46.27 $43.97
2018 $59.34 $57.77
2019 $50.46 $50.01

Just look up and see the facts -

Yes oil sold for about 17 dollars in 1999 when Baba Iyabo came in, the economy was not in a bad shape when he came in plus the prices went up and up from there. The price of 1999 alone cannot determine the economy for the many years that follows. The prices went up and up especially under Jona.
More importantly, the more the prices went up the more the govt was spending/wasting /stealing hence when it finally crashed in 2015 from $85 to about $36 the govt expenditure was already out pacing income therefore the reason why States were unable to pay salaries..
If Jona and Baba Iyabo had saved substantially and invested in a diversified economy, it would have been easier in 2015 to 2016 to absorb the shock of the crude oil price crash. The money made between 2000 and 2015 is the highest that the country has ever made from oil yet there were no major savings, investments in infrastructure and other capital expenditures. All the major capital expenditures that this govt is now embarking on should have been embarked on while oil was selling for a premium. Oil sold for more than 100 DOLLARS under Jona, pls tell me where are the capital investments to justify such incomes.
Point of fact - when Buhari came in in 2015 there were already fuel lines and States were already struggling to pay salaries.

Nigeria's income went from $86 to $36 dollars over night and you don't expect a recession? Try living on an income of $36,000 down from $86,000 and tell me you will not have serious changes n your life style.

BOSSFX:
It is the next step to eventual recovery. This recession might be a bit longer though.

You can learn a new and productive skill(s) in this trying times. We teach financial market trading and provide signals as well. We just completed this week winning trades and we move on to next week trades. No bs, we deliver result. You can follow our blog to see our consistent results every week. Check ziggy for details.

Lostz:
the economy was at one of the worst point when obasanjo came in.
a GDP of about $210b dollar has reduced to $57b in 1999. obasanjo was able to bring a GDP of just $57b in 1999 with low oil price to $262b in 2007 before leaving.

Gej was able to take the GDP to more than $568b...it highest point ever.....with record earnings from the agricultural and services sectors.


Gej left fund in the excess crude account (ECA) and the sovereign wealth funds(SWF).
buhari came in and squandered them on bailout for state governors who were lead by Ameachi in opposing Gej attempt to save for the rainy days.

PDP government took the economy from a GDP of just $57b to a record 568b...... buhari has reduced it to $447b.

illiteratepmb:
Nigeria own will be worster than the worst with the dullard at the helm of affairs. God save us o

Ayoefa:



Pls stop qouting these useless FAKE PDP figures. Record earnings from Agric and other services yet right before Jona left, there were fuel lines everywhere, States where not able to pay monthly salaries. I beg sell these fake figures at the next PDP convention not to those with common sense.

Highest income were under Jona, pls point to the capital investments that took place under him....just tell us the capital projects...Not the stealing is not corruption ones ..I beg.

agwom:


https://www.dailytrust.com.ng/global-economy-in-recession-worse-than-2009-imf.html

Seetto:
Too late, some people have already started blaming buhari, they will tell you is because of buhari we have Corona virus.

Ayoefa:
[b]


Pls stop qouting these useless FAKE PDP figures. Record earnings from Agric and other services yet right before Jona left, there were fuel lines everywhere, States where not able to pay monthly salaries. I beg sell these fake figures at the next PDP convention not to those with common sense.

Highest income were under Jona, pls point to the capital investments that took place under him....just tell us the capital projects...Not the stealing is not corruption ones ..I beg.

alterego17:



Hi bro...kindly refer me to any broker dat accepts bitcoin funding dat I can use to trade on USA nasdaq

sulaak:



I am not here to defend PDP fake numbers, but GEJ was a failure and deserved to be replaced with someone that is more competent than Buhari.

From 1999 to 2007 the average oil prices under OBJ - At the end of OBJ tenure, he cleared the external debt, increase foreign reserve to $68 billion and excess crude to $36 billion.

1999:$17.44
2000 :$27.60
2001 :$21.32
2002: $24.32
2003: $28.1
2004: $36.05
2005:$50:59
2006:$61:00
2007:$69:04

Buhari average oil prices earning from 2015 to present,

2015:$44.49
2016:$40:76
2017:$52.51
2018:$69:78
2019: $64:05
2020:65.09 until March when it fell to $32.00

https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/

Yenefer:
It is becoming almost second nature for most Nigerians, both the educated and non-educated classes, to cross the line while pouring out their hearts on national issues. I agree, there are ample question marks on how the President Muhammadu Buhari-led government has acted on and reacted to socio-political, economic, and religious matters; spanning from federal character, insurgency, ethno-religious skirmishes, education, malfeasance, to now presidential invisibility before this coronavirus pandemic.

Naturally, we feel betrayed, used, and insignificant to the presidency. Not paling in comparison to status-quo that should be, your feelings are indeed valid. But letting this emotional pain lead you to hurl insults of all sorts at President Buhari, as rampant online, is an overreaction. As you call him unprintable, reprehensible names and ridicule him through jokes/memes, remember he is fallible, someone's husband, father, uncle, grandfather, and holds office of President of Nigeria. It is enough to beg to differ with and criticize constructively his leadership style plus policies. Using constitutional and moral means to show displeasure are in order. Look emotional intelligence's way.

Disturbingly, some people even wish Buhari death, hoping news of his demise filters in soonest. If that's not a representation of the Scriptures' observation that "The heart of man is desperately wicked," then it must be of something worse. If you fall in this category, kindly stop now! Such comments are humor taken too far.

As events unfold and we watch with disappointment, anticipating the National Assembly does the needful and saves the day, let us (Nigerians) amplify our voices to be critically loud enough, not insulting enough.


©Kaycee Naze,
Rational Pen.