National Economic Recession

This is as copied from a friend on Facebook:
ECONOMIC RECESSION:
It has not been easy and nobody is pretending that it will be, but Nigerians have to understand that we must pass through this very difficult phase before things get better, and macroeconomics is no respecter of persons or regimes. It took President Obama the whole of his first term to reverse the tide of economic meltdown brought about by the fiscal recklessness of Bush administration to fund the Saddam-Iraq war; and the global recession, and it was only halfway through his second term that the outlook turned positive.
With the best policies, economists and largest fiscal footprint in the world, it took the United States almost six years to turn the tide from the economic meltdown that manifested at the end of the Bush administration. The economy does not respond to lamentations or criticism or political chicanery; and it took eight years of systemic maladministration under an atmosphere of unprecedented oil wealth to bring us to this sorry state. Why does anyone expect Buhari to wave a magic wand and suddenly shore up the value of naira, reflate our foreign reserves and crash food prices country wide? Have you counted the zeros behind the numbers coming out of the reports on stolen funds? Are you aware that our inherited foreign reserves are only slightly more than the amount in private domiciliary accounts? Do you know that illicit funds traced to a few individuals can fund several months of foreign exchange auctions? Are you aware of million dollars of NMA concealed and non-remitted to federal government TSA/CBN account by Hullmark Bank? Did you hear the recent news about the concealed and unremitted NNPC s’ over $2 billion to TSA/CBN account by nine commercial banks with Hullmark Bank inclusive? All this on a flimsy excuse that remittance of such money will lead to crash of the country banking sector!
I think we should thank our God and breathe a collective sigh of relief that a change at the helm of affairs has probably brought this country back from the brink of collapse, because a continuation of the former Jonathan government would not have exposed the mess we were in, we would just wake up one day and find that they have taken their private jets and handed over what is left of the country to Boko Haram insurgents, Biafra agitators, Niger Delta Avengers and Fulani herders.
It is not a question of policy, the fact is bleeding and wastage has to be stopped and a clear signal sent out that it cannot be business as usual; and I think what has been achieved in that regard in the last 12 months is nothing short of miracle. To be honest with ourselves, what was handed over to Buhari last year of the country was not far fetch from what Obama inherited in 2008 on assumption of the mantle of leadership in US.
Please REFLECT, RECONSIDER, REVERSE your negative attitudes today!
Regards!

2013 budget dey?

I was watching TV one quiet morning when a news headline from the national dailies was quoted which reads thus:"2013 budget unimplementable". It wasn't quite surprising to me,really,however, it was quite amusing that the first budget failure is happening NOT DURING MILITARY RULE but a civillian rule! Especially,the supposed best tenure in Nigerian history.
Its unfortunate that things can go this bad,I mean, every Nigerian and all businesses operating within our territories always look up to the national budget for economic direction. Its the budget of the country that helps businessmen to carve out a most effective business plan which has direct and indirect effects on the on Nigerians. It helps businesses to determine whether to employ more staff or to retrench some of their present employees,it also help to know whether to increase production or even shut down production of some products. This is because THE NATONAL BUDGET IS A YEARLY FINANCIAL PLAN THAT SHOWCASES THE GOVERNMENTAL ECONOMIC POLICIES AND STRATEGIES FOR THE YEAR.
You see,without a national budget,its quite difficult to tell what direction the nation is heading to financially and economically which in turn makes it difficult to tell which business to invest into and which business  you need to stay off from. As a result,businessmen tend to be cautious and either stop production or reduce it to the bearest minimum which is the reason why the economy seems to be at a grand halt.
A nation without a budget has no plan for the year,NO PLAN on spending for the year. He who fail to plan,they say,plans to fail!
In a situation whereby the president and his ministerial cabinet with their legion of special advisers that are paid so heavily to deliver democratic dividends to Nigerians have failed to deliver the very basic instrument of national economy,one cannot but wonder what people in government are actually doing in office?
Is it that the President refused to present a budget or the members of the national assembly refused to endorse it? Or,could it be that the unnecessary and rather childish 2015 second term ambition and the PDP faceoff has pre-occupied the President so much so that he has forgotten all about the budget? I mean,no budget for the year 2013... its very ridiculous!
The fact that he is currently changing his cabinet seems to have dashed all hopes that anything is happening this year. No budget,another first from President Jonathan...abi 2013 budget dey?