NewStats: 3,264,580 , 8,184,159 topics. Date: Wednesday, 11 June 2025 at 03:46 PM 39n1r

Nigerians would be forced to pay general taxes which would not exclude petroleum products from October if the economic condition in the country does not improve

The CBN governor, Godwin Emefiele, in a presentation told senators that the country’s economy has been characterised by external shocks, sharp decline in commodity prices and geo-political tensions along important global trading routes among others – The IMF says it expects Nigeria’s economy to contract by 1.8 percent this year, after having forecast in April a 2.3 percent expansion

The federal government might not be able to pay salaries of its workers with effect from October this year if the current economy decline continues.

According to Vanguard, this disclosure was made by the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on Tuesday, July 19, during a closed-door meeting with senators over the state of the economy.

The CBN governor who told senators that the economy of the country was in a bad state said if the present situation in the country continued, Nigerians would be forced to pay general taxes which would not exclude petroleum products.

In the meeting which lasted for an hour, Emefiele presented a comprehensive of the economy in the last one year which, according to him, had been characterised by external shocks, including sharp decline in commodity prices, geo-political tensions along important global trading routes and tightening monetary policy in the United States.

After the presentation, some senators asked a host of questions and raised issues concerning the banking system, the stagnant economic growth and the gradual rise in inflation among others, which the CBN governor responded to.

Following an exhaustive response by both the governor and his team, the Senate acknowledged that these are, indeed, difficult times all over the world and not just in Nigeria. It also backed the monetary policies of the CBN, noting that at the end of the day, such policies would help to increase local production, create jobs in the country.

Meanwhile, the International Monetary Fund (IMF) on Tuesday, July 19, said a combination of plunging oil revenues and weakened investor confidence will push the Nigerian economy into recession. The IMF said it expects Nigeria’s economy to contract by 1.8 percent this year, after having forecast in April a 2.3 percent expansion.

The decline in the nation’s economy has been attributed to the renewed bombing of pipelines by militants in the Niger Delta region and the 70 per cent decline in oil prices from about $116 per barrel in June 2014 to about $30 per barrel earlier in the year.

https://www.naij.com/897850-economic-crisis-fg-might-stop-paying-workers-salaries-soon.html

Chaiiiii..... Niger bridge is falling down..... We have not received salary in oyo state for six months now.. Something is definitely wrong with the federation, for how long will we continue to patch? Time to declare an emergency is now delay might be too late cos we are on a free fall.... #restructure now

Okay: The CBN is still breathing "If" at a time when confidence and resoluteness is expected, if the people in authority speak with probabilities how can they instill confidence in the masses.
Imagine the wahala 15million people have dragged 165 million into.

It has happened... Apc government fucking with devil no condoms... Doing it evil

Does this make sense, where are all the economist The APC led government need help

It has never been this worst.If it wasn't for corruption that pervaded the last istration and their subsequent removal from power by the electorates,there wouldn't have been an economic recession if they were still in power.That does not mean that corruption is not going on underground under this mallamm.Pmb is the real clueless one.

Proudly 5%

Yeye people thought they can use their boko haram to get to power and from there continue their islamofascist agenda.

GOD dey.

Enjoy the change baby boo - bae boo, bae boo.
Cause even the change need a change - a change, a change.

Love Machine:
[s]It has never been this worst.If it wasn't for corruption that pervaded the last istration and their subsequent removal from power by the electorates,there wouldn't have been economic recession if they were still in power. [/s]

The rubbish above has been moved to the appropriate waste bin

nairaland.macsoftware.info/attachments/3996154_capture_png78f16eee552a85331b9f4f38cd4a8a5f

See talk......
If FG fail to pay her workers salary for one month lasan, they are sending the entire population to doom; especially at this moment when majority of her states can't pay and some are owing as many as 9 months.

Don't try that sh*t abeg

APChangeZombie:

[size=18pt]Your 7yr Famine begins now![/size]

[img]http://1.bp..com/-TLJ8ZLpGb9E/UkUJs0gYyKI/AAAAAAAAIco/8RlMIFu7eP4/s1600/seven-cows.jpg[/img]

I laugh at the zombies who were telling me to go and drink my oyel.

Isnt it ironic that your giant "my ass" of Africa is on the brink of bankruptcy over that same oyel?

There was a time here on this platform where some "Tajus" , "Mulikats" and their "Adamu" ab0ki masters where telling us from the ND that our oyel was worthless and that we could not feed ourselves due to the environmental degradation of our land and water due to 50yrs of irresponsible oil exploration. They told me to go and drink my oyel!

One Taju told me that he wishes the oyel to crash to one dollar. I lolled! Why ? Because the change chanting zombie never knew that they were the ones more dependent on the oyel .

Now that oil is crashing and will continue to crash, and they are seeing the reality of an oil crash on their parasitic yeast economy I wonder if they still want to see the oyel crash.

Loooooooooooooooolz!

All your change nonsnese was based on feeding off the golden geese and as things stand you dont have a single clue on what to do next.

Isnt this pathetic to say the least?

I have been warning and advising you to go back to the farm but una refuse. If you had heeded my warning 5yrs ago you will be harvesting cocoa pods by now but NO una too sophisticated to farm again.

And to make matters worse off, economic analysts are predicting a 7 yrs low in oil prices.

7 yrs ! The schmitta began on september 23, 2015. For the next seven years you will go through severe famine all because you refused to remove your ingrate lazy parasitic eyes off my oyel.

Jonathan has gone with his goodluck.

God can never be at peace with a nation ruled by evil heartless bloodletting people who have spilled the blood of his children for power.

What they seek with power they will never achieve but rather that same power they killed, slandered and blackmailed for will be their stage of disgrace!


Enjoy your next 7yrs famine and dont think it will end after 7yrs because if you dont repent it will continue for another 7yrs.

Ok. If this story is true workers may be in for it this year. My advise for workers to resign and embark in mass agriculture.!!!

I saw it coming.

The problem with this istration is incompetent economic team not pipeline vandals as this malamm put it.

Let's blame GEJ. Instead of him to rig election and continue stealing he refuse and handover to Daura Bast.ard gworo chewing mofos Now see where we dey?


Corruption era better to Integrity era.

When the head is a sinner the family suffer.

Oluwa help me and forgive me from sins of the leaders...

Quote me wrongly and honestly if ur Acct Bal last year and today na the same

Where are those kwaraRats and Osun Plebs that were rejoicing when oil prices where going down?

Are they not the same set of ingratious parasites that are crying and throwing tantrums over the Niger Delta Avengers' bombing of oil installations?

I dey laugh !

Greatfuture:
Does this make sense, where are all the economist The APC led government need help

I totally agree that this Government started doing what is required to revamp the economy very late because of the stubbornness of the President. But please guys a country's economy does not collapse in 1 year, what you are seeing is a reflection of what has been happening over the years. The price of crude oil started declining during GEJ's govt and continued sharply afterward, no single person can be blamed for the decrease in price of crude oil. Election has come and gone, you people should forget about the election and move on. If you have a reason to blame the president, do it without being petty. Whether we all like it or not, Buhari is the President of Ibo, Hausa, Yoruba and collectively Nigeria. so stop all this attack that has helped no one.

This must be the biggest joke of the century.



APC=ALL PROMISES CANCELLED.

Intrepid01:


[s]I totally agree that this Government started doing what is required to revamp the economy very late because of the stubbornness of the President. But please guys a country's economy does not collapse in 1 year, what you are seeing is a reflection of what has been happening over the years. The price of crude oil started declining during GEJ's govt and continued sharply afterward, no single person can be blamed for the decrease in price of crude oil. Election has come and gone, you people should forget about the election and move on. If you gave a reason to blame the president, do it without being petty. Whether we all like it or not, Buhari is the President of Ibo, Hausa, Yoruba and collectively Nigeria. so stop all this attack that has helped no one.[/s]

The bin will be full of this kind of rubbish above before we get to page 1 of this thread

nairaland.macsoftware.info/attachments/3996154_capture_png78f16eee552a85331b9f4f38cd4a8a5f

Omenka! Is this true?

It seems this our President and his party are just starting with us o.


We don enter one chance!

[quote author=AntiMahdi post=47724907][/quote]


YOu are very funny.............tell me is SSner excluded fromt he hardship in the land? We are all in it together...There is an adage that says..."A Mallam that says there will be farmine should that his Children too wont eat paper?................WE ARE ALL IN IT TOGETHER, whether you be kanu, Tonye, Adamu or Taju.

hmmmm...

nairaland.macsoftware.info/attachments/3996154_capture_png78f16eee552a85331b9f4f38cd4a8a5f

And I the motion.

Where's @onatisi to "third" this motion.

The final nail to the coffin of Nigeria.
Any penny/ shishi or farthing that will be owed to the federal civil service commission in the name of "owing of salaries" will lead to secrets being leaked and sold out of hunger. I presume and also guess that no political jobber will want to hear the original results on how INEC selected them to rubbish our country.

Intrepid01:



YOu are very funny.............tell me is SSner excluded fromt he hardship in the land? We are all in it together...There is an adage that says..."A Mallam that says there will be farmine should that his Children too wont eat paper?................WE ARE ALL IN IT TOGETHER, whether you be kanu, Tonye, Adamu or Taju.

Not for long...

Abi you never hear say by August 1st we leave your useless parasitic nation?

Better start farming yam because there will be an international market to the south of your useless nation soon.

Whatever pains we in the SS will be going through is like labour pains.

AS FOR YOUR TYPE OF HUNGER, THE THING STILL DEY CONTRACT KWARSHORKO FROM SOMALIA

greatgod2012:
This must be the biggest joke of the century.




APC=ALL PROMISES CANCELLED.

It is not APC's fault.............APC doesn't control the price of crude oil in the world or the Govt of Buhari..........If you want to blame the Govrnmt be objective because WE AR ALL IN IT TOGETHER.

dadebayo1:
Chaiiiii..... Niger bridge is falling down..... We have not received salary in oyo state for six months now.. Something is definitely wrong with the federation, for how long will we continue to patch? Time to declare an emergency is now delay might be too late cos we are on a free fall.... #restructure now

it is becoming very clear ny day that ferdralism is d only hope nija has and we keep pn looking for a short term solution to a long term problem..yet the north remained adamant,our leader appear confused and we cituzens are not left out in d stupidity mix..we will all have ourselves to blame if nija fail as a nation cos,am seeing if already.

AntiMahdi:


Not for long...

Abi you never hear say by August 1st we leave your useless parasitic nation?

Better start farming yam because there will be an international market to the south of your useless nation soon.

Whatever pains we in the SS will be going through is like labour pains.

AS FOR YOUR TYPE OF HUNGER, THE THING STILL DEY CONTRACT KWARSHORKO FROM SOMALIA

My friend stop appearing like an illiterate cos I can assume you aren't one...even a pry school kid wont regard the empty seccession date as anything serious. whether you agree or not....WE ARE IN IT TOGETHER

"When Buhari a Fulani man who doesn't know anything about economy but only how to drive cattle from place to place, is through with ZOO's economy, you will call me here and tell me what I said
" Mark my words because anything I say if it doesnt happen, Chukwu Okike Abiama always cause it to happen, Somalia will be a paradise compared to the zoo.

N.K July 17th, 2015 .

After increasing fuel,diesel, gas and kerosene prices and the general increase in the price of goods that always follows it.Is this abokki telling us that he has not made trillions of naira from that?Before this man kill us all with his atomic bomb policy we have to kill him first.

BiafranPrince:
"When Buhari a Fulani man who doesn't know anything about economy but only how to drive cattle from place to place, is through with ZOO's economy, you will call me here and tell me what I said
" Mark my words because anything I say if it doesnt happen, Chukwu Okike Abiama always cause it to happen, Somalia will be a paradise compared to the zoo.

N.K July 17th, 2015 .

Oga your date is wrong.....you actually appear confused? today is 20th not 17th