GDP growth 1.5% for Q2 2018, a drop from 1.95% in Q1. This is not good. One would have thought that low inflation and relatively higher oil prices would have given us a push.

Meanwhile Oil GDP contracted by over 3%. This is what we are building our economy upon. The funniest thing is that the sectors the Government have insisted on subsidizing by all means - industry and agric - both contracted.

Meanwhile the sector that has come under the heaviest regulatory pressure and messy business environment surged: Services sector.

Seeing what happened to Yinka Ayefele, today will be a good day to do this thread. Nigeria is a just a portfolio country.

Will be back later in the evening.

https://twitter.com/knightofdelta/status/1030483920041783296

Light reading. Nigeria is a portfolio country...

thisdaylive.com/index.php/2018…

Time for the thread I promised.

I answered tons of questions in my DM because many of them were highly specific. Unfortunately, I couldn’t spend more time talking with each individual. Went through all the requests and the most common issue I noticed was that people are struggling with expenses and debt.

Like I said earlier there is too much emphasis on big ticket expenses and investments in the personal finance space.

Finally, we have entered that conundrum at such an inopportune time. Inflation is below the long term rate, fx reserves are high, fx rate is stable, yet the economic engine is stuttering. (Thread) CBN is now sending mixed signals because it has reached its wits end. It is keeping MPR is high because it has to assure foreign investors that they can still get high yields on their investments.

Meanwhile, it has slowed down OMO issuance thus keeping systemic liquidity high.

I have tweeted so much this morning. But I still have one last thread boiling in me and it has to do with NYSC.

If you are about to go for your NYSC or currently doing one, gather around. I will be back in the evening when my day job is done. So now, I have time. This is my advice to those of you who will are currently serving or will go for service in the next two years.

This is an advice from someone who completed their own youth service exactly 9 years and 9 months ago. I will tweet from my personal experience.

I have a question for those of you who used the temporary high inflation in Egypt and the ongoing currency crisis in Argentina as examples of why IMF reforms, or market driven policies are bad for Nigeria.

Where do you think Egypt and Argentina would be now if they had oil? Now, let me give you another example. Russia.

Russia has market-driven economic policies. They faced two stressors in 2015 - 2016: sharp drop in oil prices and international sanctions because of their annexation of Crimea.

Each one is enough to crush a country.

The next government that will take over after this one may find themselves in a very big economic mess if things continue as they are.

I am very concerned about what I see. A thread. Let’s start from the costs.

This Govt seem to be hiring on all cylinders. Into parastatals that are cost centers with zero to next to nothing revenue in return. The NASS is also raising their own budgetary allocations.

End game: over-bloated recurrent expenses.

My guys and I got this from @ugodre. I am sure he has passed my message across to the sender, but I felt this will be a small learning opportunity.

Will post a thread later in the night. Our friend believes he made a bad investment and he might be right.

But before the thread starts, sometime around 10pm most likely, I am curious. What do you think makes a good investment.

Please reply to this thread. Do not quote.

Many people ask me how I was able to build the skills to spot opportunities when things seem to be falling apart, and combining disparate ideas to come up with something new.

I passed through fire. Thread will come up in a few hours with emphasis on a life lessons. Here’s a piece for you while you wait… Most People (Motivational Speech) by Fearless Motivation (On Spotify)
open.spotify.com/track/3n3RwRj0…

I am thinking of doing a thread about owning a home vs investing and just renting, given our skewed real estate market in Nigeria. This is inspired by @chxta and @wrytnonso

Stay tuned. Will come later in the night. Coming up at 11pm tonight. Only for adults, because only adults think about buying or building houses.

Now, I am truly triggered. Should do do a thread on this building someone’s dream versus building your own dream thing? Yes? No?

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Okay, now I have data. And time. I should address this notion of dream building by only being an entrepreneur by 10am today.

I should do a thread on how inflation affects your savings and investments and how to protect your portfolio. Tonight or tomorrow morning? 🤔 Tonight it is. Coming up at 10pm.