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Re: IMF: Global Economy In Recession Worse Than 2009 by Mac2016(m): 9:05am On Mar 28, 2020 |
Recession with Obama I think would be rated faster recovery than this man... All is well |
Re: IMF: Global Economy In Recession Worse Than 2009 by Nobody: 9:05am On Mar 28, 2020 |
Ayoefa: 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 1 Like |
Re: IMF: Global Economy In Recession Worse Than 2009 by MOnkeyBabe(f): 9:21am On Mar 28, 2020 |
iamimohtal: God Bless you for ConveRSing niCely and coming to his level, even though you don't aGRee with him. The effoRt you made is highly APPReCiaTeD. SteP by SteP. One Day, you may see ReaSOns with the wRiter. FROm my own AnGle, I think life is ShoRt and DeeP. I Can't aFfoRD to hate anyone no matter what wRonG they have Done me. I would always CoRRect with ComPaSSiOn and wiSh them Well. 1 Like 1 Share |
Re: IMF: Global Economy In Recession Worse Than 2009 by doggedfighter(f): 9:32am On Mar 28, 2020 |
YorubaKinging:Will you please shut up, ewu ! |
Re: IMF: Global Economy In Recession Worse Than 2009 by Truthbites: 9:35am On Mar 28, 2020 |
and prevent liquidity problems from becoming a solvency issue” she explained further. Economists de NL? Amplify that thing for up for me, I beg |
Re: IMF: Global Economy In Recession Worse Than 2009 by Ayoefa: 9:47am On Mar 28, 2020 |
Lostz: 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. 2 Likes |
Re: IMF: Global Economy In Recession Worse Than 2009 by BabangidaHamza(m): 9:47am On Mar 28, 2020 |
Emmerlee:The US, China, UK, Italy and Spain were more prepared than Nigeria but have more casualties than Nigeria |
Re: IMF: Global Economy In Recession Worse Than 2009 by Hassan88(m): 9:50am On Mar 28, 2020 |
Sick people |
Re: IMF: Global Economy In Recession Worse Than 2009 by BabangidaHamza(m): 9:51am On Mar 28, 2020 |
semyman:The Clown looks lifeless, clueless, helpless as corona virus is using the US citizens as specimens.. Upon all the technology they have, over 100 people keep dying everyday. Oya IPOB come and rain insults on me.. I get una time today |
Re: IMF: Global Economy In Recession Worse Than 2009 by Fragility6: 9:56am On Mar 28, 2020 |
Yenefer:So Goodluck was not somebody's husband and father?See una life. Even during Goodluck's tenure,activists, journalists,NGO's were insulting him on live TV, news dailies, n all social media platforms, nobody was arrested or dem no intimidate anybdy bt only online troll wey dey troll buhari una dey preach shit...Dadiyatta a twitter guy was arrested by DSS for criticising buhari a year ago were is he now? Dat Young man had a kid n a family. One incompetent,foolish,clueless dullard jst took him from his family. Not counting oda arrests n intimidation for pple voicing dier disdain over this govt.... Move over with ur double standards. E neva see anytin yet. E beta pray he complete his tenure in peace 1 Like |
Re: IMF: Global Economy In Recession Worse Than 2009 by Jeferious: 9:56am On Mar 28, 2020 |
Emmerlee: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?" 1 Like |
Re: IMF: Global Economy In Recession Worse Than 2009 by PHijo(m): 10:03am On Mar 28, 2020 |
Ayoefa: That is NOT true! Either you are not familiar with how the whole thing function or you are deliberately trying to push a narrative that is wrong. Many of the reforms Obasanjo and Jonathan embarked on were reversed by late Yar'Adua and Buhari respectively. You talk about falling oil prices causing Nigeria's woes. What about wasteful decisions Buhari made? Exploration in the North east, tradermoni, 5,000 Naira for the 'poor', school feeding etc. These are activities that don't strengthen economic growth in any way. In 2015 three simple actions would have helped weather the storm. 1. Free float of Naira 2. Subsidy removal 3. Infrastructure loans for critical infrastructure that would help diversify the government's revenue stream. A follow up to that in 2016 would have been privatisation of entities like NNPC and massive investment in health, education and infrastructure. |
Re: IMF: Global Economy In Recession Worse Than 2009 by Emmerlee(m): 10:05am On Mar 28, 2020 |
BabangidaHamza:They were not exactly more prepared because they were hit at the time the world did not fully grasp the dangers ahead.. but we had enough time to learn from the panic that is now going on around the globe. That is the difference. You guys keep comparing Nigeria with these countries do you really think we have all it takes to fight it on should this thing become as widespread in Nigeria? The way you guys reason is such a wonder. |
Re: IMF: Global Economy In Recession Worse Than 2009 by grandstar(m): 10:06am On Mar 28, 2020 |
The only difference this time is that economic recovery will be swift. It will be like a postwar recovery. |
Re: IMF: Global Economy In Recession Worse Than 2009 by DexterousOne(m): 10:07am On Mar 28, 2020 |
Yenefer: You better not tell us that |
Re: IMF: Global Economy In Recession Worse Than 2009 by Robnectar(m): 10:11am On Mar 28, 2020 |
YorubaKinging: u mean smoking weed is a sin |
Re: IMF: Global Economy In Recession Worse Than 2009 by PHijo(m): 10:20am On Mar 28, 2020 |
Jeferious: Don't mind them! They don't know other societies are prepared. |
Re: IMF: Global Economy In Recession Worse Than 2009 by ladgentle(m): 10:24am On Mar 28, 2020 |
Yenefer: It's so refreshing to read something like this in nairaland. Thank you. |
Re: IMF: Global Economy In Recession Worse Than 2009 by Nobody: 10:26am On Mar 28, 2020 |
Ayoefa: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. 1 Like |
Re: IMF: Global Economy In Recession Worse Than 2009 by alterego17: 10:43am On Mar 28, 2020 |
BOSSFX:[/quote] Hi bro...kindly refer me to any broker dat accepts bitcoin funding dat I can use to trade on USA nasdaq |
Re: IMF: Global Economy In Recession Worse Than 2009 by Ayoefa: 10:45am On Mar 28, 2020 |
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. 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. |
Re: IMF: Global Economy In Recession Worse Than 2009 by tundess: 10:49am On Mar 28, 2020 |
But Nigeria is in a better financial position than 2015 surely ? We have record receipts from Customs, FIRS, TSA has plugged leaks, loans have been requested, infrastructure is being constructed, rice mills in every state, international airports under construction in every state, agriculture yields soaring, NPower is yielding new economic avenues for youths. The world may recede but we'll be sailing in blue waters and clear skies. |
Re: IMF: Global Economy In Recession Worse Than 2009 by gentlegenius(m): 10:57am On Mar 28, 2020 |
illiteratepmb:
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Re: IMF: Global Economy In Recession Worse Than 2009 by Nobody: 11:19am On Mar 28, 2020 |
Ayoefa:what you call useless fake PDP figures are [b]verifiable facts copied from our annual GDP from 1960 to 2019. I don't do ranting and tantrums you guys normally throw. I give you facts and figures to back my claim. do you even know what a capital project is? 1 Like |
Re: IMF: Global Economy In Recession Worse Than 2009 by emirex50(m): 11:23am On Mar 28, 2020 |
agwom: Please OP, it is International Monetary Fund(IMF) and not ~International Monetary and Financial~ . This platform is suppose to be educative. Let's not be misleading. |
Re: IMF: Global Economy In Recession Worse Than 2009 by Ayoefa: 11:26am On Mar 28, 2020 |
[quote author=Lostz post=87844281] what you call useless fake PDP figures are verifiable facts copied from our annual GDP from 1960 to 2019. I don't do ranting and tantrums you guys normally throw. I give you facts and figures to back my claim. do you even know what a capital project is?[/quote Oh no I don't. May be taking half of govt senior staff on a jamboree to Jerusalem will qualify as one. Go ask and Jona, may be he can help you out. |
Re: IMF: Global Economy In Recession Worse Than 2009 by sulaak(m): 11:32am On Mar 28, 2020 |
Seetto: Nigeria is a tough country to lead, but when you keep silent on critical issues such as COVID-19, Fulani militants and civil service corruption you make it an impossible task. He is the man at the helm, he has been in government for the best part of 6 years. He could have deregulated the oil industry and fixed the four refineries at his disposal. His health care policies could have been improved beyond flying to the UK for medical checkup. Right now Buhari is history and even you know it. 1 Like |
Re: IMF: Global Economy In Recession Worse Than 2009 by sulaak(m): 11:41am On Mar 28, 2020 |
Ayoefa: 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/ |
Re: IMF: Global Economy In Recession Worse Than 2009 by Nobody: 11:46am On Mar 28, 2020 |
[quote author=Ayoefa post=87844496][/quote] leadership is not all about propaganda. propaganda does not get into the economy |
Re: IMF: Global Economy In Recession Worse Than 2009 by BOSSFX: 11:55am On Mar 28, 2020 |
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Re: IMF: Global Economy In Recession Worse Than 2009 by Ayoefa: 11:58am On Mar 28, 2020 |
sulaak: I'm glad you agreed that Jona was a complete failure. Buhari has't performed any magic either. Baba Iyabo did not clear our debt by paying for it, he cleared it by begging our debtors to forgive a huge chunk of the loans. So it's not like he was paying for it with income from oil. Looking at the figures above even a novice can see the economy improving as the price of crude oil increased. Not only that, this govt has embarked on major capital projects that other govts have left to decay for generations such as rail system, 2nd Niger bridge, road systems, Lagos MMA airports expansion and many others. Look, if oil is selling for 100 dollars, you can have a monkey as the President and all will be ok. With oil selling for 28 dollars as it sold for when Buhari first came in, even an Harvard Economic PHD can only do so much especially considering what he met on ground. |
Re: IMF: Global Economy In Recession Worse Than 2009 by sart(m): 1:39pm On Mar 28, 2020 |
Yenefer:You spoke well lady. |
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