We are beginning to see: weaker-than-expected growth in advanced economies (except USA) and emerging markets like China and Brazil; excess oil supply due to the rise of new regional producers, increased exploitation of shale oil and gas particularly by the U.S, and weakening oil demand in major economies including in Asia and Europe. These developments, which have partly contributed to the significant decline in oil prices (to around $78 per barrel) in recent weeks, have unfavourable implications for the Nigerian economy - Madam Ngozi Okonjo-Iweala Did you say weaker than expected? Haba Madam, this is even good for now; the worst is yet to come. Yet you have been caught, once again, sleeping on duty. What, then, will you say when the worst (which has been anticipated by most experts) become a reality? Are you going to scream ARMAGEDDON!!! This is not and never has been rocket science, Madam, you either know how to manage an economy or not. Simple!
Posted on: Sun, 07 Dec 2014 13:58:01 +0000
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