NewStats: 3,261,716 , 8,174,902 topics. Date: Friday, 30 May 2025 at 09:43 AM 6pk6t

The International Monetary Fund (IMF) predicted on Tuesday that Nigeria’s gross domestic product (GDP) growth rate would fall to its lowest point in 29 years.
The IMF said the Nigerian economy would shrink by 1.8 percent in 2016 , and grow by only 1.1 percent in 2016, affirming arguments that Nigeria is currently in a recession, and will be throughout 2016.

However, this is just a forecast. As Nigerians, we still have our destinies in our hands, and possess the potential to upturn the odds in our favour.
We believe this seven Nigerians can upturn the nation’s economic woes in just a few months:

BABATUNDE FASHOLA
According to Akinwumi Adesina, president of the African Development Bank, lack of electricity shaves off about four percent of Africa’s GDP. The figure for Nigeria is projected at 5 percent of GDP.

Fixing power in any Africa economy is a GDP magic. It may be next-to-impossible to fix Nigeria’s power situation six months, but considerable progress could drive growth drastically.

With IMF particularly highlighting low power generation as a cause of economic contraction, high power generation can directly bring economic expansion.

Fashola, as minister of power, at his best, can make this happen – if resources are made available.

GODWIN EMEFIELE
The second major issue raised by the IMF, which Nigerian economic analysts can attest to is the foreign currency scarcity currently being experienced in Nigeria.

The foreign exchange policy of the Central Bank of Nigeria (CBN)is pivotal to the availability of forex in the Nigerian system.

If Godwin Emefiele and the CBN monetary policy committee find a way of fixing forex scarcity in the short term, GDP growth may just be on the cards in 2016.

NIGER DELTA AVENGERS
Low oil receipt is no doubt the single biggest reason for the contraction of the Nigerian economy. If we have oil forex, forex scarcity can be fixed and capital projects on power can also be executed.

Nigeria cannot upturn oil prices, but we can increase our production levels and generate more petrodollar if the Niger Delta avengers leave vengeance to God!

BABATUNDE FOWLER
At the presentation of the Nigerian appropriation bill for 2016, President Muhammadu Buhari said only N820 billion of the N6.08 trillion budget will be funded by petrodollar.

He said the rest would be funded by other sources of revenue generation, especially taxes and other non-oil revenues, handing so much responsibility to Fowler, chairman of the Federal Inland Revenue Service (FIRS).

If Nigeria must experience any economic growth in 2016, it must be able to implement its Keynesian budget. To do that, Fowler’s FIRS must be able to generate sufficient revenue.

KEMI ADEOSUN
Nigeria’s youngest minister has one of the heaviest duties in reforming the economy. She has promised fiscal responsibility, and has succeeded in weeding out thousands of ghost workers.

She said in Kaduna last week that she would “make every naira count without placing burden” on any Nigerian.

For Nigeria’s GDP to grow in 2016, Adeosun must give more action to her words and do more within the third and fourth quarter of 2016.

HADIZA USMAN
Seaports are one of the largest sources of revenue in many countries of the world. But despite Nigeria’s status as Africa’s largest economy, the country does not have a single port in the top 100 ports in the world.

According to World Port rankings, South Africa has two of the 100 busiest, revenue generating ports in world.

With Usman’s as managing director of Nigerian Ports Authority (NPA), we could either see our port revenue sky rocket or fall to new lows.

It may be difficult in six months, but it is not impossible for Usman’s NPA to add sizable expansion to the Nigerian economy.

MUHAMMADU BUHARI
The Nigerian system is designed in a way that puts the direction of the nation on the shoulder of one man; his name: Muhammadu Buhari. Virtually all of Nigeria’s economic decisions lie on the actions and inaction of the president.

Buhari’s negotiations with the Niger Delta Avengers, willingness to grant absolute autonomy to the central bank and take necessary economic decisions – even if it be the devaluation of the naira – will make all the difference in the days to come.

HONOURABLE MENTIONS
Yemi Osinbajo , vice president and head of the National Economic Council

Ibe Kachikwu, chairman of NNPC and state minister for petroleum, who fetched $80 billion in deals for infrastructural deficit in the Nigerian oil sector.

Akinwunmi Ambode , governor of Lagos state, which is responsible for over 20 percent of Nigeria’s GDP. Lagos can swing the GDP pendulum in any direction.

https://www.thecable.ng/fashola-usman-kachikwu-7-nigerians-who-can-upturn-imfs-depressing-gdp-forecast

I BELIEVE IN SAI BABA.

I stand with Buhari.

Fashola,Emefiele,Kemi and of course Buhari himself has already proven to be clueless,so next !!!!

Watching

8 - Goodluck Jonathan.......his name alone brought prosperity; his body language instilled confidence!

OP no security chief among dem? Cos u shld knw a peaceful n secure country attracts FDIs. Fashola I believe is working, Emefiele is licking Buhari's butt so cnt do much, Adeosun keeps speaking her unproductive queen's english, Kachikwu...hmmm

Joke of the century

Ok.. Minister of darkness sighted

Plenty ppl on the list no even understand their works sef

My prick dey scratch me abeg

No condition is permanent. All will be well

kenzysmith:
My prick dey scratch me abeg

make I u joor

[b]The main problem of Nigeria isn't over dependence on oil alone it's over dependence on imports. Tell me one finished product Nigeria exports, none!!! Economic diversification is the only way and it's always a long term project, so I'm non-plussed with IMF's negative economic indices.

I feel the PMB's government should focus on:

1). The revitalisation of Ajaokuta Steel Mills, if fully functional, it can serve Nigeria and West Africa,

2). Assisting Kebbi and Ebonyi states in rice plantations, it's on the record that Nigeria spent over 1 trillion naira on food imports in 2015 alone of which you and I know the percentage rice is gonna carry,

3) Reviving the moribund textile industry, why should Nigeria still import clothing materials?

4) Carrying out massive reforms on the Nigerian education system, studying abroad is one of the factors placing strain on the dollars, Nigeria loses billions of dollars to UK, US India, South Africa and even Ghana and Benin Republic,

5) Nigerians love cars, Innoson Motors needs to have plants in Lagos and Kano as well as engage in aggressive ments, else it would be still be seen as an eastern, not Nigerian car

6) Lend all to Dangote as regards his refinery, refining oil in Nigeria will ease the burden on the naira in no small way.

7) Work harder on power generation. [/b]

Finally, the government needs to realize that WHAT WE DON'T HAVE IS WHAT WE DON'T NEED. Outrightly ban imports on things like tooth pick, brushes, Polish etc

kenzysmith:
My prick dey scratch me abeg

try using sandpaper.. thank me now and not later...

cktheluckyman:
Fashola,Emefiele,Kemi and of course Buhari himself has already proven to be clueless,so next !!!!

when u go get sense naa

jdwtc.

You forgot Dasuki he's helped invested Nigeria's looted funds

cktheluckyman:
Fashola,Emefiele,Kemi and of course Buhari himself has already proven to be clueless,so next !!!!

ur mumu ehn. Na God go intervene

If the head is rotten the whole body is useless
If the president is a complete deaf dullard like buhari, there is no magic 500 intelligent brilliant ministers can perform with the economy .

http://www.theparadigmng.com/2014/11/26/when-the-head-is-rotten-the-whole-body-is-useless-obasanjo-bombs-jonathan-again/

Baba Fash, 3good!!

.

stano2:
make I u joor

boss add 14years or lynching to your years, how old will u be then?
Please sandpaper will do the magic

Seems the hunger don reach urside. Normally, u talk more than this

madridguy:
Ok

Nice one op. It's a collective job. And if they can all deliver, things will get better. My hope for them still dey strong.

Na the whole FEC You suppose talk Jere..... which one be seven

Mammangaddafi:
ur mumu ehn. Na God go intervene

mtchewww...he's right.
If u feel the trio has achieved a thing since the came into play other than talk and talk., kindly say. One is from my side b4 u shout tribal.. ...

Sunofgod:
Goodluck Jonathan.......his name alone brought prosperity

Which prosperity? With excess oil boom we still found ourselves in deep poo

it's not funny jare

I thought u want to mention or tell us about those we don't know!! All these idiots we know!! They ve proven that they can't bring any +ve change, or do u think they ar nt putting their best?? They can only bring the type of change they promise, which we all ar seing now and can testify it!! So try again dear!!!

Sunofgod:
Goodluck Jonathan.......his name alone brought prosperity

Get serioua bro..Do you think we are here to joke or what?

Dino meleye no follow?