Mynd44:
Damn...

This is some serious poo.

NOI would not dare debate this. Wait, I hope Sanusi jumps on this too

LRNZH:


A Sanusi rejoinder will be super-epic especially on the missing $20Billion NOI is covering up.
She's daft for allowing her reputation get this low.

Mynd44:

She had to go ahead and piss Soludo off.

This full script is better that the washed down version on front page.

Tundeajani:
seun osewa protecting his paymasters,,,,only sanusi or elrufai can face soludo with intellectual soundness but oops they are in the other camp,,,ngozi is a baby economist

Mynd44:

Not a baby. I have always said you cannot bring Harvard trained guys to make our policies. Our policies have to be made by people who understands the economics and have been involved in it because imported policies don't work here

LRNZH:


You!re very right. Havard Business School by way of their training focus more on relationship building and Networking. Business schools like Wharton are more analytical and even make more millionaires in terms of percentage of graduates who are very well trained in quantitave finance and economics.

Apparently UNN is also more analyical than Havard. NOI is exposing Havard and World Bank. Bunch of half witted crooks.

Mynd44:

You need guys who know Nigeria to run the economy. People who have lived here and see how things work not those who will run it based on ideal situations which is a myth here

LRNZH:


Proof is
Soludo- UNN
Sanusi-ABU

All Nigeria trained. They will lecture NOI- Havard in Economics anyday

barcanista:
Okonjo Iwaela is an overrated economist. Truth is all her economic policies makes me to question the kind of training that she received in Havard. I wonder whether her Phd was really earned or it is just another Chieftancy title like her oga. She's a major flop, though Soludo also flopped as CBN boss

MayorofLagos:


Look, NOI enjoys the fraternal shield provided on privilege of her education at both MIT and Harvard. They will not let her be ridiculed as a failure because it reflects negatively on their reputation as top universities in the world. She may be hell of a smartie on the principles and theories on economy but when it comes to substance there is gap in her ability to comandeer the ship. They know it but again....she is one of their own and the honors must be preserved.

nwafuluozoh:
Wow! Charles the son of Soludo has finally found his calling: Discrediting our economy on behalf of APC.
Well I wish him well but he had better collect his pay now because after Buhari has lost massively , the money and position they promised him will become VOICE MAIL aka bad debt.

Mynd44:
Damn...

This is some serious poo.

NOI would not dare debate this. Wait, I hope Sanusi jumps on this too

MayorofLagos:


Look, NOI enjoys the fraternal shield provided on privilege of her education at both MIT and Harvard. They will not let her be ridiculed as a failure because it reflects negatively on their reputation as top universities in the world. She may be hell of a smartie on the principles and theories on economy but when it comes to substance there is gap in her ability to comandeer the ship. They know it but again....she is one of their own and the honors must be preserved.

J4parry:


More like a remix, not a bad idea at all...lol.

LRNZH:


Especially when been trounced by UNN and ABU trained economists.

OAM4J:
Nna mennnn!!!

Soludo is truly a 1st Class material in and out.

This is what boxers called knockout. I wait eagerly to read NOI rebuttal.

[b]Next, Madam, I was really embarrassed for you to read that one of the reasons for declining forex reserves is ‘oil theft’. Under you as Minister of Finance and coordinator of the economy, the basket of our national treasury is leaking profusely from all sides. Just a few illustrations! First, you admit that ‘oil theft’ has reduced oil output from the average 2.3 – 2.4 million barrels per day (mpd) to 1.95mpd (meaning that at least 350,000 to 450,000 barrels per day are being ‘stolen’. On the average of 400,000 per day and the oil prices over the past four years, it comes to about $60 billion ‘stolen’ in just four years. In today’s exchange rate, that is about N12.6 trillion. This is at a time of cessation of crisis in the Niger Delta and amnesty programme. Can you tell Nigerians how much the amnesty programme costs, and also the annual cost for ‘protecting’ the pipelines and security of oil wells? And the ‘thieves’ are spirits? Come on, Madam!

Second, my earlier article stated that the minimum forex reserves should have been at least $90 billion by now and you did not challenge it. Rather it is about $30 billion, meaning that gross mismanagement has denied the country some $60 billion or another N12.6 trillion.

Now add the ‘missing’ $20 billion from the NNPC. You promised a forensic audit report ‘soon’, and more than a year later the Report itself is still ‘missing’. This is over N4 trillion, and we don’t know how much more has ‘missed’ since Sanusi cried out. How many trillions of naira were paid for oil subsidy (unappropriated?). How many trillions (in actual fact) have been ‘lost’ through customs duty waivers over the last four years? As coordinator of the economy, can you tell Nigerians why the price of automotive gas oil (AGO), popularly called diesel, has still not come down despite the crash in global crude oil prices, and how much is being appropriated by friends in the process? Be honest: do you really know (as coordinator and minister of finance) how many trillions of Naira, self- financing government agencies earn and spend? I have a long list but let me wait for now. I do not want to talk about other ‘black pots’ that impinge on national security. My estimate, Madam, is that probably more than N30 trillion has either been stolen or lost or unaccounted for or simply mismanaged under your watchful eyes in the past four years. Since you claim to be in charge, Nigerians are right to ask you to account. Think about what this amount could mean for the 112 million poor Nigerians or for our schools, hospitals, roads, etc. Soon, you will start asking the citizens to pay this or that tax, while some faceless “thieves” were pocketing over $40 million per day from oil alone.[/b]

OAM4J:
Nna mennnn!!!

Soludo is truly a 1st Class material in and out.

This is what boxers called knockout. I wait eagerly to read NOI rebuttal.

LRNZH:


OAM4J....
The scale of the full text warrants special place on FP. It is not in the same bucket as the newspaper articles that attempt to summarise it. It is as if they're scared to show us the real bloodyy mccoy.

LRNZH:


A Sanusi rejoinder will be super-epic especially on the missing $20Billion NOI is covering up.
She's daft for allowing her reputation get this low.

LRNZH:
NOI has no defence. She does not understand developmental economics.
If they ploughed the about $12Billion annually (money being lost to bunkering-400,000 barels per day) and Sanusi's missing $20Billion into the economy, and were sincere with their power reforms adding some MW say extra 2,000 MW, and resuscitating two refineries at least, the economy will not be where it is today.
Think about it. The major countries hit badly by the recent oil price decline are Venezuela, Iran, Russia and Nigeria. If you noticed that Nigeria is the outlier on that list, then you are right. Nigeria is the only one not running a socialist welfare state or under foreign sanctions. Gross economic mismanagement and corruption by them NOI got us there. No defence.

OAM4J:


Normally, the Home page doesn't promote two threads on the same/similar subject matter at the same time, except the Admin feel otherwise.

What I can do is to link this thread to the opening post of the other thread. Will do something about that.