Okonjo-iweala is a corrupt woman and an unseasoned economist.

And who do you expect to be reading all this

EmoBoy:


Which youths are educated? If our youths were actually educated, the unemployment rate wouldn't be so high. Remember that over 70 percent of nigerian graduates are unemployable.

I believe Nigerians are very educated though the quality of the education leaves much to be desired. The issue of unemployment is a monster that can't be addressed in a short time. Policy inconsistencies over the years has brought us to our current state as a country. We know govt can't employ people that much as the civil service is over-staffed. It is the private sector that can bail us out. And an enabling environment where every youth with a good business idea can get grants and loans to achieve their dreams. That's what we need to do as a country. It is a people that makes a country great not vice versa. And I want to believe the policies of the current gvt is doing just that tho much more could be done.

callmenow:


The information about some of these schemes, approved by NASS can be found here. www.nsia.gov.ng

The bean counters, tell me that billions of dollars was invested for real. However you have to dig deep to unravel the inner workings of the schemes. Apparently, the money was invested in dollars denominated instruments. Therefore the value should be intact.

Well.........you say , wht can I say?

IT MUST BE TRUE

ilugunboy:


Indeed.....she has largely supervised the ruination of the country economy...

No minister of Finance have been this ineffective in the history of Nigeria.

she was the same financial minister during OBJ's tenure who helped in clearing Nigerians debt and got so many praises. I feel no matter where in the world, as far as you are a leader you would have people opposing you same as people supporting you. If we argued logically without insult why naira is loosing its value to dollars. We would discover that Nigeria couldn't run from it with our over-dependency on oil. As this current government as started diversifying the economy. I just hope this trend continues irrespective of the winner in this election.

obailala:
Are you insinuating that every single analysis made by Soludo, i.e. 100% of it is wrong?

Logically, if your premise is faulty, what does that say about your conclusion?

I have a lot of respect for Soludo but he should have written this as an economist not as a frustrated politician.

Curlieweed:


The question of recurrent expenditure is a very interesting one. It's a bit like the fuel subsidy issue where you know the right thing intellectually to do but may not find the political capital to achieve the solution.

Two key issues drive the high recurrent expenditure levels; high personnel costs and the huge number of Ministeries and Parastatals. Regarding the high personnel costs, an obvious solution would be massive retrenchment of civil servants. I doubt if any civilian President can embark on that objective for clear reasons. The other side of the equation is the large number of Ministeries and parastatals, which are protected by law. This puts the obvious solution of rationalizing the numbers of government units (Oronsaye, I think, attempted to work on this) beyond the realm of what the executive can achieve unilaterally.

I believe that Ngozi's team is attempting to tackle this issue by increasing efficiency ( a more transparent payroll) and by diversifying funding ( non-oil revenue).

^^^
Its also interesting that you bring up the matter of fuel subsidy. i have argued on several threads here that Nigerians have not been told the truth about fuel subsidy. Just a few days ago, I saw for the first time, youtube clips of Messrs Tam David West and Muhammadu Buhari (recorded 3 years ago) in which they stated unequivocally that fuel subsidy is nothing but a scam. I would like nothing more than to see this matter settled once and for all.

I have always asked this question: what is the cost of producing a litre of refined PMS, AGO or DPK here in Nigeria, using Nigerian crude and Nigerian refineries? That is a question that I have never been able to get a clear answer to. Each time I try to get an answer to this, I am told the PPRA template can't be uploaded, or the website hosting it is down, etc. We need to know what that local production cost of PMS is. Is it more than, less than or equal to the pump price of 87 Naira?

Let's leave that for now. You talk about our leaders knowing what's right but not having the political capital to implement a solution. Then why aspire to lead? Leadership is making tough choices for the common good. Nigerian leaders have to choose this day whom they will serve: a minority of powerful vested interests or a powerless (for now) majority that is truly, really ignorant (again, for now) of its own strength.

The current administration does not want to take on unproductive, corrupt civil servants. Correct me if I am wrong, but it does not want to advance legislative reform on key areas such as the Land Use Act or the PIB despite a clear party majority in parliament. It has not sponsored a bill for a constitutional amendment to reduce the sinecures that define public officialdom in the Federal republic of Nigeria. It does not want to do these things because they are 'too hard'. So why aspire to lead?

I would like to know if the Ribadu Report, the KPMG Report, the PwC Report, the Ralph Oronsaye Report, the Elumelu Report and the NNPC Audit Report have all been completed and formally released to the public. If they haven't, then why?

You talk about Mrs. Okonjo Iweala's attempts to alter the skewed nature of our budgets. I will like to see how successful those efforts will be in a captive state (which is what we are, make no mistake about it).

EdCure:
Worst CBN Governor ever? When did they derobe SLS of that title?
These unsrupulous Jonathanians always describe everybody as the worst as soon as they start criticising the clueless one.

Show me any quotes from FG that berates Sanusi's professional actions.

alaoeri:
Yeebos fighting yeebos because of a clueless Ijaw man thats non of my business.

you deserve a brand new wife!

1000 likes!

smsdigito:


And me that am talking who told you am GEJ's brother or am enemy of Soludo?
Let me tell you why, some times the pedigree of the messenger affects the quality of the message or the integrity of the message passed.
Let me give an instance, assuming somebody like shekau (the Boko Haram leader) brings you a message one day that he has changed his mind about violence in Nigeria and has repented of his sins so civilians should enter sambisa forest to go and recover the chibok girls and other kidnapped citizens by themselves and promises that they wont be hurt, will you welcome it?
If you wont welcome it, what are your reasons?

Look, what you fail to understand in this country is that very few people come out to say their mind on such issues without being bias. Why is it that some people working with any govt in this country never see anything wrong about what the govt is doing, yet those who are not with the govt always dont see anything good about what the govt is doing? ask yourself this question.
If you read through soludos's memo, you will discover he never saw even one thing good about what this admin has done. Is that possible? these are simple indices that he is bias in his criticism.
He lost elections in PDP twice and he was aggrieved that GEJ didnt support him and quickly he switched camp to atiku, and lost along with atiku. He is still disgruntled, who doesnt know that? read through okojo-iweala's response and stop pretending you dont know about all govt is doing to develop the economy and the country as a whole.

Only not-too-smart people will ignore a message which they can verify with a click of a button, simply because they dont trust the messenger. To give you a more appropriate analogy to the one you gave, assuming you are in a restaurant and a renown armed robber walks in and tells you some street boys are attempting to break into your car which you parked outside, what would you do?... Would you totally ignore the message because you know the messenger is a thief?... Would you throw the baby away with the bath water simply because 'you dont think' it is clean?

Does it cost you anything but a click away to verify?

Soludo had to speak up shut- up the propagandists. We have all read how the Goofluck's supporters continually bamboozle with his achievements being and not limited to GDP re basing, agricultural reforms. Soludo is simply telling us to shine our eyes.

Curlieweed:


Logically, if your premise is faulty, what does that say about your conclusion?

I have a lot of respect for Soludo but he should have written this as an economist not as a frustrated politician.

As an ordinary Nigerian whose welfare is concerned in this matter, I cannot afford to throw the baby away with the dirty bath water.

That woman really messed up our economy. Barrel of oil was selling at 110 dollars and she was still encouraging Jonathan to go on borrowing spree. Now that the oil is 48 dollars per barrel, the borrowing spree will still continue abait in ten folds. Okonjo is a real destroyer of economy. And the next you would hear is that "she finished at Harvard.

Apc bigots, u won't see the part where she talked about the developments in Agric, Tech, Road, Rail Transport, NBS, etc. Blinded bigots

UP GEJ Till 2019

Haters go drink Acid Hcl

Kola4uniadgog:


I believe Nigerians are very educated though the quality of the education leaves much to be desired. The issue of unemployment is a monster that can't be addressed in a short time. Policy inconsistencies over the years has brought us to our current state as a country. We know govt can't employ people that much as the civil service is over-staffed. It is the private sector that can bail us out. And an enabling environment where every youth with a good business idea can get grants and loans to achieve their dreams. That's what we need to do as a country. It is a people that makes a country great not vice versa. And I want to believe the policies of the current gvt is doing just that tho much more could be done.

Nigerian youths are indeed educated!

Like the way they are dissecting this reply to Charles Soludo.

maasoap:
That woman really messed up our economy. Barrel of oil was selling at 110 dollars and she was still encouraging Jonathan to go on borrowing spree. Now that the oil is 48 dollars per barrel, the borrowing spree will still continue abait in ten folds. Okonjo is a real destroyer of economy. And the next you would hear is that "she finished at Harvard.

IGNORANCE and ILLITERACY!

You need to be INFORMED my FRIEND!

Mftivi:
yes sir, am not a hypocrite like you, I see his achievments. The airports, the train, the schools, the roads are they all lies? I am educated enough to know that president Goodluck has laid solid foundation for the transformation of this country and that transformation doesn't happen over night but built block upon block. As for saving for the raining days direct that to Ameachi and his cohorts.

oga, i live in Abule-Egba and work in Apapa, i have tested firsthand the rail system its very very poor, cos i stand frm Apapa to IJu.

however, the new train introduced by FG cost 750naira per trip thats 1500naira to and fro everyday that equates to 1500x20working day, do the arithmetic putting in mind that minimium wage is 18,000naira so pls do the calculation and stop all this media propaganda.

Again, have any of your family benefitted form the Sure-P of the 1.8milion jobs kindly reply.

naijababe:
Soludo had to speak up shut- up the propagandists. We have all read how the Goofluck's supporters continually bamboozle with his achievements being and not limited to GDP re basing, agricultural reforms. Soludo is simply telling us to shine our eyes.

Yes he is telling us to shine our eyes...that he is the dangerous one!

obailala:
[size=13pt]Now it is Soludo. No more SLS[/size]

Isn't it funny how the focus is now on Soludo and no longer Sanusi Lamido Sanusi. I remember vividly when SLS was 'running his mouth' and enlightening Nigerians on the fraud going on in high places. Jonathan and the Jonathanians castigated SLS, called him all sorts of names, pronounced him the worst CBN governor ever who destroyed our banks (built and consolidated by the fine economist, Soludo) and they even proceeded to end his banking career. We all know the end result, SLS was finally exalted to his dream retirement job as the Emir.

Fast forward the clocks by 12 months, Prof Soludo has decided to break his silence on the sham going on in high places and the tables have suddenly turned around. The much praised and celebrated Prof Soludo is now the worst CBN governor who destroyed our banks until God sent SLS to come and rescue the nation.

I dey laugh (in OBJ's voice)!

If by any means Jonathan rules Nigeria till 2019, the Jonathanians would have succeeded in rubbishing every single person left in this world except of course, themselves. Who knows, Jonathan himself may even wake up one day and tell Nigerians that his wife is responsible for our woes; it always has to be others

Classical. Well articulated. Thumbs up.

anonimi:



Kindly point to which of the achievements listed below is a "paper transformation"
Thanks.

Do kindly open a thread for this achievements. In your opening statement, do well to give us a breakdown of revenue and recurrent expenditure figures for the period under consideration; the value of the projects completed and the expenditure/mobilization already made on the ongoing ones.

Meantime, I noticed Jonathan achieved a crude production of 2.5m bbl per day and we just saw NOI peddling a range of 1.95-2.24m bbls. Una no dey try at all

cooljude:
she was the same financial minister during OBJ's tenure who helped in clearing Nigerians debt and got so many praises. I feel no matter where in the world, as far as you are a leader you would have people opposing you same as people supporting you. If we argued logically without insult why naira is loosing its value to dollars. We would discover that Nigeria couldn't run from it with our over-dependency on oil. As this current government as started diversifying the economy. I just hope this trend continues irrespective of the winner in this election.

The question is why is the Naira losing it value at such dizzying free fall rate?

It's simple....no adequate reserve to defend the Naira, many investors and financial players are aware of our depleted foreign reserves and they were the first set to take positions against the Naira. When big financial players starts taking anti-Naira position....it sends a clear signals to small time speculators like me to take such stand against the Naira.

While we acknowledge the effects of falling crude oil prices....the major blame lies with those that have mismanaged and squandered our foreign reserve which is meant to defend the Naira at period like this.

Soludo thinks everybody will be a failure just like him.. The people of Anambra treated his Bleep up now he wants the whole nation to destroy him... A big shame to that thing(soludo)

kaboninc:


IGNORANCE and ILLITERACY!

You need to be INFORMED my FRIEND!

Is that all what you've got? Empty as usual. Borrowing in time of plenty. What type of economic policy is that?

fairheven:
I love the way Soludo avoided attacking the person of okonjo Iweala..but was able to prove his points with undeniable facts an figures.
As for the special adviser...there's nothing special about his advises going by the thrash he just spewed here..SOLUDO's record of turning "pure water and recharge card " selling banks into power houses of African financial institutions will forever remain a milestone in the annals of banking sector...even the worldbank which for okonjo Iweala worked described it as a "miracle"
Befor SOLUDO CAME one south african bank was worth more than all the banks in Nigeria..today its shoulder-to-shoulder. ..we are always in a hurry to forget history.

He insulted her (his boss) in his write up by calling her a mere trader. Fine i agree his positive was giving the banks alot of independence but he made a mistake in the regulation of those banks. The ripple effect can still be felt today.

AlPicapcI:


oga, i live in Abule-Egba and work in Apapa, i have tested firsthand the rail system its very very poor, cos i stand frm Apapa to IJu.

however, the new train introduced by FG cost 750naira per trip thats 1500naira to and fro everyday that equates to 1500x20working day, do the arithmetic putting in mind that minimium wage is 18,000naira so pls do the calculation and stop all this media propaganda.

Again, have any of your family benefitted form the Sure-P of the 1.8milion jobs kindly reply.

You should cut your coats according to your sizes. Like you said the trip is 750 bucks and it is FIRST CLASS. It is NOT a RIGHT. It is a PRIVILEGE and if you cannot afford it, take a bus or the lesser train fair. Like comparing taxi rates to commuter bus fares.

That same train convenes passengers from Enugu to Port Harcourt with less than 1000 naira - FIRST CLASS. You can't compare the distance to Apapa-Iju.

ilugunboy:


The question is why is the Naira losing it value at such dizzying free fall rate?

It's simple....no adequate reserve to defend the Naira, many investors and financial players are aware of our depleted foreign reserves and they were the first set to take positions against the Naira. When big financial players starts taking anti-Naira position....it sends a clear signals to small time speculators like me to take such stand against the Naira.

While we acknowledge the effects of falling crude oil prices....the major blame lies with those that have mismanaged and squandered our foreign reserve which is meant to defend the Naira at period like this.

WHO SQUANDERED OUR FOREIGN RESERVE?

In the first place, is it CBN's RESERVE or the EXCESS CRUDE ACCOUNT?

maasoap:
Is that all what you've got? Empty as usual. Borrowing in time of plenty. What type of economic policy is that?

Sorry bro, but do you know the US borrows too? Heavily for that matter? Do you know the debt stock of the United States? That's the answer to your "What type of economic policy is that?" question.

kaboninc:


WHO SQUANDERED OUR FOREIGN RESERVE?

In the first place, is it CBN's RESERVE or the EXCESS CRUDE ACCOUNT?

Which one is CBN reserve? We are talking about our external reserves. Please read up Soludo's article.

naijasaints:
Okonjo-iweala is a corrupt woman and an unseasoned economist.

And you are a whatttt? Saint?

It's hard for government to save in times of plenty in a democracy. The opposition will accuse you of not doing anything to help the people.

hmmmmmmmmmmmmmmmmmmmmmmmmmm

kaboninc:


Sorry bro, but do you know the US borrows too? Heavily for that matter? Do you know the debt stock of the United States? That's the answer to your "What type of economic policy is that?" question.

You knew nothing about economy, apparently. Do you know that USA has the largest gold reserve in the world? You can't even understand what I'm saying, why troubling myself?