Business CNN Tags Nigeria "Worst Performer in Africa"

[LequteMan]

CNNMoney has declared the country as the worst performing economy in Africa two months after ranking the country next to China and Qatar as world fast-growing economies.

“By our estimate, the fastest growing economies in 2015 will be China, Qatar and Nigeria. Nigerian economy, growing by 7.0 percent, came after China 7.3 percent and Qatar 7.1 percent,” CNNMoney had said in January.

However the programme now believes otherwise, saying the oil price fall is choking Nigeria and as a result the country faces harsh economic realities and a rapid depletion of its reserves.

“Nigeria’s currency is trading at a record low against the United States (US) dollar,” it said.

“The stock market has slumped 15 percent this year –making it the worst performer in Africa – and financial reserves are being depleted.”

#Nigeria #CNNMoney #Africa #CNN

 

[curator]

Does CNN know where Nigeria is NOT Niger? They should probably take a good look at what is happening in Ghana

[USERGROUP=4]@Senior Curators[/USERGROUP]

 

[LequteMan]

Due to the oil crash, every Tom, Dick and CNN now talks BS about Nigeria's economy - because they have nothing to say.

Talk BS about Russia and feel the heat.

 

[curator]

Nigeria has just been hit by the perfect storm (in economic disaster terms): Oil price crash (we have no control of this), Stock market crash (we have no control as the market is over exposed to foreign investors), Boko Haram (took too long to get the other countries involved), Elections (winner takes all so parties lobbying against their own country around the world), No friends (let down by the US, EU and AU).

 

[LequteMan]

Nigeria has just been hit by the perfect storm (in economic disaster terms): Oil price crash (we have no control of this), Stock market crash (we have no control as the market is over exposed to foreign investors), Boko Haram (took too long to get the other countries involved), Elections (winner takes all so parties lobbying against their own country around the world), No friends (let down by the US, EU and AU).

You've painted a gloomy picture there, sir. Sadly, it's the harsh reality.

We only have ourselves and ourseves alone. "No Money, No Friends"

 

[LequteMan]

I'm hoping the elections will be a blessing.