₦airaland Forum

LouisVanGaal:
The most painful aspect is that even after reading this; whynhetruth would still rush to open another thread..asking his dumb rhetorical question...'Was jonathan that corrupt??'

kenny987:
Onye nkuzi 1! Ochie Dike! How is that possible na, ehn nna? Okwu gi nka n'ebute obi mgbowa! Okwa k'am mata oge anyi ji e bido 'crass' nke mgbede kam ji n'ekwu di kam si gwa Candyrain. Ke ki mere biko?

socialmediaman:
@whynoruth, I stopped having conversations with you long ago due to your childish insults, but I'll try you once again.

Now, some of what you stated up there is true, except that we have no statistics to compare your submissions with; APC has not been at the central government long enough for us to know the difference! Just 3 months and you're already making comparison with a 16 year PDP government, what's your point exactly?

Nigerians' problem with OBJ the previous govenment of GEJ (infact, PDP in general) was not about good monetary or fiscal policy, but CORRUPTION, executive IRRESPONSIBILITY and absence of LAW ENFORCEMENT. I am talking about the central government here

TRUTHTOPOWER:
Senator McCain Campaign came crashing in 2008 when he declared that the fundamentals of the American economy was strong. Wall Street collapsed before he had time to reflect on his press statement. When you hear the slogan 'it is the economy,stu.pid' as used by Clinton, it talks about soccer mums and Joe the plumber, how their families can get mortgage, health insurance, and purchasing power.

There must be connection between your statistics and the experience in the labour force.

Now here this. NBS said 54% of Nigerian Youths were unemployed. (2012) According to the stats, it translates to 30 million. So the challenge before NOI and PDP was not rebasing GDP or bringing FDI. those are measures not results in policy articulation. the challenge was drastic reduction in employment rate. These implies doing something about inflation and lending rate for the sake of the challenge not as goals or ends of economic planning. Pls read Soludo on missing trillions. ignore the stealing aspect if you are not comfortable with that just concentrate on the relationship between measures and effect
vanguardngr.com/2015/02/ngozi-okonjo-iweala-missing-trillions-1-charles-soludo/
NOI et al promised 2 million jobs per year in order to address the deficit of 30 million. by 2019, 22 million would still unemployed. When you add new entrants of 2million per year to it. The proposal of NOI did nothing!

So what is the point of YouWin SureP, FDI. Admittedly they benifited the individuals who got slices of the national cake just as political handouts benefit party footsoldiers.

My Faith: Discipline and fear of moral reproach! That is the starting point. GEJ govt by his own admission saw nothing wrong in Fiscal rascality. he abeted felony, to wit, embezzlement and extortion, hellooooo! others are guilty is not a defence!

The task before is having kicked out indiscipline what can we do? That is in addition to the original plan of the new administration.

However if you believed your time is better served by romancing the corpse of a dead administration, it is your choice.

By the way, where do you think NOI is and what do you think she is doing? she is writing a book to tell the world that she is not responsible for the the documented crimes you are here claiming are nonexistent. Don't ask me how I know.

bilal4riid:
Even if I tell you still ask for otueke..wailer

front247:
Right from d days of Adam and eve, Apc have been known to tell lies

bilal4riid:
From the South-south are Chief of Naval Staff Rear Admiral Ibot-Ete Ibas, Group Managing Director of the Nigerian National Petroleum Corporation Emmanuel Kachikwu, Coordinator of the Niger Delta Amnesty Programme General P.T. Boroh and Senior Special Assistant to the President on National Assembly Matters (Senate) Senator Ita Enang.
Those from the south-west are Chief of Defence Staff Major-General Abayomi Olonisakin, Chairman of the Federal Inland Revenue Service Fowler Babatunde and Special Adviser to the President on Media and Publicity Femi Adesina.

omowolewa:
Best-brain, Americans are blessed with leaders.

Trypa:
All our APC goat

TRUTHTOPOWER:
Time shall tell.

Trypa:
Lol than u must have don something terrible to them

Trypa:
Seconded in oda news have u declared ur assets?

Olamitisoji:
Nigeria is meeting it's worst moments of its life since its birth. The effect of Buhari's guestures can't be over-emphasized positively as it's also causing more bad than good. When i read the article about China one of our greatest benefactor economy wise, i was shocked to my bones also by the way he his reacting to it. Sure China needs Nigeria but not as much as Nigeria needs her, she can always get her Oil somewhere else but for Nigeria, we have limited buyers for our Oil. Also even if he doesn't want to install a Finance minister or other ministers it may concern he sud have a good adviser as the regards the economy. His attitude towards Nigeria's economy is bad. He should try to strike a balance between fighting corruption and enhancing the economy.

Trypa:
And they are more of his kind on NL here o

erunz:
NICE POST LETS WATCH THEM, LIARS DEFEND THE INDEFENSIBLE

Ezenwammadu:
Face it the economy is choking under Buhari body odour

dmandy:
Amen.

One more thing, whenever you notice any good thing, do well to acknowledge it as well.

baralatie:
No 6 and subsidy payment drained govt purse like basket to hold water

dmandy:
Hmmmmmm
How long are we to continue wailing?
2019 is far oooo

Upnepaa:
keep wailing........it is ur destiny

emmyblackky:
Wailing wailers can only wail and nothing else. Some people really need artificial brain to augment their dead brain cells.

baralatie:
That is a lot of write up
It is called putting things in their proper perpestive!

benedictnsi:
#in_Akon's_voice..... "hopping for the best but expecting the worst

Dharniel:
lemme read...

PassingShot:
[b][s]This thread is of course a response to this https://www.nairaland.com/2590889/see-what-happening-nigerias-economy

For us to understand and appreciate what the new government has done or not done for the country, it’s very important to revisit the type of economy it inherited from the last regime as enumerated below:

1. The Nigerian economy operates a budget which is heavily skewed in favour of recurrent expenditure (about 90%) against capital expenses (about 10%) as represented by 2015 budget here http://www.punchng.com/news/jonathan-signs-n4-425tn-2015-budget/

Implication of this is that there will be no real development in the core areas that sustain and improve economic development.

2. Nigerian economy is largely dependent on crude export. Even the crude price has fallen below the benchmark price ($53 per barrel) on which the 2015 budget was based. Crude now sells at around $47 per barrel.

3. As at April 2015, the Federal Government of Nigeria had borrowed $473bn to pay salaries of its workers for March and April 2015. http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html

4. GEJ met the reserve at $47.7bn in 2010 but still managed to reduce it to $29.6bn despite that crude sold for an average of $100 per barrel (peaked at about $140/barrel). The country’s FR plays a huge role in giving confidence to foreign investors in Nigeria’s economy. The higher the value the higher the confidence in the economy and vice versa.
http://www.dailymail.co.uk/wires/afp/article-3070070/Nigeria-borrows-pay-salaries-cash-crunch-worsening.html[/b]

I could go on and on but these will suffice for now.
Now, let’s see OcheJoseph ‘s points one after the other:


Yes, Nigeria will be delisted from Bond Index of JP Morgan. However, it amounts to crass ignorance for any sane analyst to want to blame the government of the day. JP Morgan started the process of reviewing Nigeria’s continued participation in its bond index in January of this year given the fact that we had depleted our FR to an abysmal level while our currency continued to lose values.

For Nigeria to continue to participate in the BI, the conditions given by JP Morgan are very detrimental to our economy. Nigeria will have to devalue the Naira and possibly will exchange for about N350 to a dollar. This will drive up inflation which means cost of imports and even local goods will go up. Cost of doing business will shoot up and productivity will expectedly drop which will eventually lead to massive retrenchment by the companies.

So, should Nigeria have chosen to remain or accepted to be delisted? I wait for your answer.



What do we expect when the FG as at May 29 had not released a kobo towards capital development? The capital expenditure in the 2015 budget is paltry 10% of about N4.5tn and NOTHING had been released as at the exit of the last govt. So what miracle do we expect?




This is too cheap and very misleading. Job losses are a constant part of any economy and if it’s not as a result of a government’s policy or not on an industry-wide scale, you cannot put the blame on the government. Even in the link you provided, it was clearly stated that the layoff was not for any reason of threat or loss as quoted

“One thing that is clear is that Zenith Bank is not under any threat,” the source, who spoke with our reporter on condition of anonymity. “With the current crisis in the banking industry in the country, it is incumbent on any bank that wants to growth to bend backwards to re-strategize and restructure its operations to expand and grow.

Is the OP insinuating that there were no job losses during Jonathan’s regime? Or that every job loss was due to his mismanagement of the economy?




At some point during GEJ’s era, the naira exchanged at above N235 to a dollar. That it trades at N220 currently represents an overall gain from N235/N240. The CBN is on a mission to make it difficult if not impossible, for stolen dollars from our reserves to be easily exchanged or transferred abroad. Besides, the fact is that crude price has dropped and our over dependence on imported goods among others have naturally put pressure on the naira.


The headline reads “Nigerian economy slows in Q2” and not “Nigerian Economy Slumps”, Both are not same and don’t mean same thing.

The quarter 2 referred to represents April, May and June of 2015 and GEJ was in charge in April and May. Does it then make any sense to blame a presidency which was in charge of one month out of three months for the slow down in the growth?

Again, the fact is that the economy would have collapsed completely had GEJ managed to win the last election. The economy was already on a downward slide by the time we voted him out. So, for anyone to attempt to put economic woes that we may currently be experiencing on PMB/VPYO smacks of irresponsible partisanship.



What is the news here? Must Nigeria do business with China or any other country for that matter?
Nigeria will do business with anyone whose policy and business terms and conditions favour her. This is no rocket science.





The loss is as a result of JP Morgan’s delisting and it was definitely expected following the announcement. The loss is not Nigeria’s loss but investors. When investors have gained in the past, was the gain given or shared with the country?

As I said earlier, CBN/DMO/MOF and Nigeria as a whole has taken the right decision to stand up to JP Morgan’s manipulative tendencies. We cannot because of foreign or even local investors accept conditions that could bring the country to its knees.


If anyone needs to use their brain, it’s you and your co-travellers.

You lots preferred we continue with a failed president/government. You wanted us to continue with a regime that could not manage surplus and bounty harvest in times of scarcity. You wanted us to continue with a government which recognized stealing as the norm. You wanted us to continue with a government of wastes; a government that placed militants above law abiding citizens; a government that couldn’t guarantee security such that a portion of the country was in control of some rag tag terrorists.

Buhari ison a mission to stop the bleeding the economy was going through. He is on a mission to prevent a very bad situation from getting worse. He is on a mission to restore our lost glory, sanity, accountability and pride where STEALING WILL BE SEEN AS CORRUPTION.

May God continue to guide President Buhari & VP Osinbajo aright
May Nigerians prosper better under his selfless leadership

CC: Lalasticlal[/s]

Dharniel:
was expecting to see you or whynetruth on the thread and i wasn't dissapointed...

Truckpusher:
Not at all.

It's just simply mor0nic to talk about things you don't have and will never.

Rich people don't make noise about it .
Brood on it zombie.

Truckpusher:
well, every man has a right to believe what they want to but trying to shove down your ideas into people's throat is a breach of freedom of expression.And this is what the APC supporters wants in Rivers State.
The PDP have their demons too but again who and who makes up the APC today ?
What's their antecedent over years ?
Where they not the same people that has been running the country?
Think bro, I'm not even concerned about your political leaning.