RECESSION:DOOM TIME MAY TAKE 20-25 YEARS
BY WALE RODGERS,ABDULMUMINI ADEKU.
………………………………………………………….UNIVERSITY DON CLEARS AIR ON NIGERIA’S
AILING ECONOMY
………………………………………………………….FAMINE HITS NIGERIA
……………………………………………………………HARARE-STYLED RIOTS LOOMS OVER
NIGERIA
……………………………………………………………..POSITION OF THE OIL MARKET AS AT
TODAY AND THE
FOREIGN EXCHANGE POINTS TO THE FUTURE FOR CORRUPT NATIONS
………………………………………………………….DOOM TIME MAY TAKE UP TO 20TO 25
YEARS FOR THE NATION TO RECOVER
…………………………………………………………..GRAPHICAL ILLUSTRATION OF NIGERIA’S
BUSINESS MOOD NOW
…………………………………………………………….UP-SURGE IN PROSTITUTION EVEN AMONG
HOUSEWIVES,STEALING AMONG ABLE BODIED MEN
…………………………………………………………..BUHARI TELLS NIGERIANS TO “DIE-ANOTHER-DAY”
…………………………………………………………….NIGERIA MAY HEAD FOR DEPRESSION NEXT….
……………………………………………………………..PAEDIA EXPRESS CHIEF ECONOMIST SAYS
THE ONLY WAY OUT OF NIGERIA’S ECONOMIC LOCK JAM WAS PROBITY,ACCOUNTABILITY AND
TRANSPARENCY..
………………………………………………………….F.G. CABINET SHAKE- UP LIKELY BETWEEN
NOW AND OCTOBER 1ST,2016
Rising from his crystal ball ,the Chief Economist of Paedia
Express Multimedia Group, Professor Charles Adeiye has declared that what the
nation’s economy was going through could be described as its pathway in
business cycle.
In an exclusive interview with the News Office Desk ,shortly
after been discharged from a Lagos Hospital where he had been recuperating after a lengthy battle with an ailment said
that this type of business cycle could take between 20 to 25 years depending on which one as
prevalent at some point in an economy.
According to Adeiye ,also of the University of Lagos in
Nigeria ,the possibility of Nigeria getting back to the boom period will depend
on a whole lots of factors which only its leadership ,citizens and even external
forces could be fingered as lead determinant.
In an hour long chat with this reporter ,it was discovered
that through the economist analysis that there were key indices or phases in
every nation’s business cycle and these were the recovery ,boom, recession and
depression period with each having its associated symptoms.
He pointed out that when an economy was recovering from its
shock, the level of growth in the land will be slow ,with creation of jobs far
and in between by enterprises while also listing other prevalent features of
this phase of an economy to be sticky upward prices, sticky interests ,costs
lag behind prices among others..
He warned that when an economy begins to boom people should
not get carried away with its features like business confidence, employment rate,
profits,costs and prices which all grows strongly but quickly added that all this could change
overnight when an economy is poorly or badly managed due to massive looting of
a nation’s resources just as it the case with Nigeria presently.
He listed situations like costs being unsustainable
,marginal firms closing down ,rise in unemployment leading to lending costs discouraging new vista in
investments as the key features of recession.
He added that there was no doubting the fact that Nigeria
was heading towards depression at the moment as cases of general economic
decline now abounds in all spheres of national life, government Inclusive.
Analysts ,now think
that there had always being a recession in Nigeria as the common wealth of the
people did not trickle down to the average man in the streets but shared out by
gluttons among Abuja mandarins for years until the bubble busted out recently
when it became evident that the nation’s petroleum resources was no longer hot
in the international market.
In a related issue,the recent spate of riots as result of
peaceful protests over the poor economic
conditions and the living standards of Zimbabweans may actually be re-enacted
in Nigeria soon if the present economic conditions of Nigeria persists.
It would be recalled that in Harare,Zimbabwe,Pastor Evan
Mawarire helped to recently launch the movement tagged as Thisflag ,as he tried
to get his country to rally round the national identity of that nation and
speak out against President Robert Mugabe.
The government blames Zimbabwe’s tough financial position on
western backed sanctions and a slump in prices of its export commodities in the
global market.
Checks by the News Office Desk of Paedia Express Multimedia
in Lagos,Nigeria shows that there were palpable signs that Nigerians have lost
patience with the Muhammadu Buhari led regime as at press time.
On the 4th of August,2016,as many as a dozen
opinion sampled with 8 of them been practicing journalists agreed that trouble
was not so far away.
A source told this reporter that a neighbor of his in the large
compound where he lives with other families
in Lagos,Nigeria recently reported to him that his wife’s pot of soup was
stolen by another neighbor whom they still do not know as at press time.
Another source confided in by this reporter not only confirmed the rapid
rise in domestic crime but insisted it was no longer news to him.
Another analyst revealed that he did not think a year will
be too long for Nigerians to wait before going on a riot nationwide as he
expects this in a matter of three months.
In a related issue,a source who is a civil society told this reporter exclusively that the
feelers he was getting from The Presidency,Aso Rock villa as at press time
suggests that President Buhari was very
sad about the performance of some of his cabinet officials and was going to
embark on a massive shake-up between now and October 1st,2016.
Believe it or not,famine has hit Nigeria,well ,if you do not
believe then consider the following scenarios:
------------at least 15 people are believed to have sold at
least one of their two kidneys at Abeoukuta Street in Ogba area of
Lagos,Nigeria in the last 12 months
……………….Pot of cooked beans garnished with all kinds of ingredients
was reported stolen at Olufemi Ajayi Street off College Road,in Ifako Ijaiye
area of Lagos couple of weeks ago though the identity of the thief was not
revealed to the News Office of the Paedia Express Multimedia but we are
tracking the situation
However,it was gathered as at press time that the woman
involved in the incident claimed that her husband had deserted her and her
three children and they had not eaten any single meal for three days prior to
the incident.
………………fried fish was reported stolen from a steaming pot of
soup at a restaurant in Idiagbon Area of College Road in Ifako Ijaiye area of
Lagos,Nigeria
………………….Eba was reported to now being dipped into plate of
oil palm mixed with salt as victims did not have money to prepare any form of
big budget soup.
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