Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,257 members, 7,807,886 topics. Date: Wednesday, 24 April 2024 at 09:42 PM

Economic Realities: The Way Forward For President-elect Muhammadu Buhari - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Economic Realities: The Way Forward For President-elect Muhammadu Buhari (22900 Views)

Yakubu Dogara "Jonathan's Choices Caused Nigeria's Current Economic Realities" / Why Is Father Mbaka Silent In The Face Of These Harsh Economic Realities? / CNN Interviews President-Elect Muhammadu Buhari (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (Reply) (Go Down)

Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:22am On May 07, 2015
Election is over, post election banters should be winding up as the incumbent administration run her last lap.

During the electioneering period, President-elect Muhammadu Buhari and the ruling party-elect APC made lots of promises. Some of these promises ranges from provision of 24/7 electricity, provision of 3 million jobs annually, ending corruption to standstill, reduction of recurrent expenditure and increase in capital expenditures, provision of monthly stipends for the elderly, disabled and unemployed, and 24 months payment to Youth Corps members (1 year each for service and post service period) and feeding of public primary school pupils across the country. All these are in addition to numerous capital project that was promised by the government.

There are also several demands from different groups to the President-elect. The "ex-Militants" want Amnesty sustained, the Governors elected on APC's platform led by Rochas Okorocha want increased funding to states, the people in the North want an end to the insurgency, the people in the South South/South East are calling for political and economic emancipation and good leadership, those in the South West are advocating for improved governance and leadership. Everybody is making one demand or the other.


Present Reality
Nigeria's revenue is dwindling already with no hope in sight if the status quo remains. Our budget is destined to run on deficit of over N1.3 trillion, which will only add more burden on the people. The revelation by Ngozi Iweala that Nigeria had to borrow to pay wages and salaries of workers is a sign that we can't continue this way. No country can sustain when it borrows to pay salaries. What happens when the loan becomes too much that more borrowings is rejected? This will sentence us to IMF's Sturctural Adjustment Program, which will take us 100 years backward and punish generations to come.


Mistake of The Outgoing Incumbent
The grave mistake that the Incumbent President Jonathan made was to give in to the 36 States Governors in 2010 led by Bukola Saraki and later by Rotimi Amaechi to share the $25 billion Excess Crude Account among the FG, States and LGs,rather than to admonish them to look for alternative. Sadly, Nigerians never felt the impact of the so call shared dollar windfall. It only expanded the financial war-chest of the politicians and their friends. If this fund was still in place, Nigeria will have no business to resort to borrowing of less then N500b to pay salaries.


The Way Forward
Though President-elect Muhammadu Buhari made loads of promises, he should not subject himself to any form of pressure so as not to make ridiculous decision that will ruin the country in his bid to fulfil his pledge. Buhari should as a matter of urgency scrap the Amnesty Program, he should send an Executive bill to the NASS for the creation of Excess Crude Account Fund and/or any Savings fund that the country may turn to when in dire need. He should put hold to all his social programs and place emphasis on developmental programs. As a matter of importance, he should cut his entire pay package by at least 50% and encourage his Aides and Cabinet members to do same. He should also encourage his party-men to do same. The extra monies should be used as an intervention fund or for capital projects. He should also reduce his number of foreign trips and those of his Aides and Ministers. President-elect Buhari need to revisit the call for Fiscal Federalism (which he promised in 2011), so as to empower states while he creates special fund for the "not-so-viable" states and region to move the nation forward.

The President-elect should revisit our 3 existing refineries and put them in at least 90% productive state so as to reduce our dependent on imported refined petroleum product, and at the same time solve the ever increasing subsidy bills. He should strengthen the anti-corruption agencies and ensure that whoever is indicted is prosecuted and not just that, the loot of the thief is retrieved. His corruption fight should begin with members of his "caucus" and extend outside so as to win the confidence of Nigerians especially the non-Northerners. He should also send executive bill to the parliament to amend sections of our criminal laws and codes that does not reflect to the present reality.

The manufacturing sector should be encouraged along with improved electricity so as to boost our economic prospects. Insecurity ought to be addressed and should not be limited to Boko-Haram fight alone.

President-elect Buhari should do these in addition to long term economic policies for the growth of Nigeria. The success of Buhari's administration is vital for the success of Nigeria. Though in opposition, I shall always wish the administration well.



God Bless Nigeria
Credit: http://www.solomontonye.com/2015/05/economic-realities-way-forward-for.html

66 Likes 8 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by francizy(m): 10:23am On May 07, 2015
Barcanister, nice one there, even the change agents will be happy with this your post... cheesy

I hope Bubu reads this tho...

18 Likes 2 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by tayebest(m): 10:23am On May 07, 2015
"My advice is just that Nigerian should just be in ease with this incoming government, A country that has been handle by the bad government for the past 16years cannot be build up in a short expectation.
But what I know is that GMB will lay a good governance in Nigeria and for the incoming Government" - senetor-elect on channels tv




Btw. Barcanista why has GEj not have done this in his tenure buh you lay it as a "Must" on GMB

15 Likes 2 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by PassingShot(m): 10:23am On May 07, 2015
While taking my time to dissect your write-up, let me say kudos to you for finally heeding my advice to play opposition with constructive criticism.

Modified*
Some errors in what you claim APC promised:
1. APC/GMB never promised provision of 24/7 electricity. They only promised to increase power generation/distribution year on year.
2. The 3 million jobs (actually 20,000 jobs per state) is over four years.
3. They didn't promise to "end" corruption but to fight corruption and reduce it to a manageable level
4. All their social programs have conditions attached to them. They are secondary issues and shouldn't be the priority of the incoming government. They may only attend to them when monies are available to prosecute them.

barcanista:

Mistake of The Outgoing Incumbent
The grave mistake that the Incumbent President Jonathan made was to give in to the 36 States Governors in 2010 led by Bukola Saraki and later by Rotimi Amaechi to share the $25 billion Excess Crude Account among the FG, States and LGs,rather than to admonish them to look for alternative. Sadly, Nigerians never felt the impact of the so call shared dollar windfall. It only expanded the financial war-chest of the politicians and their friends. If this fund was still in place, Nigeria will have no business to resort to borrowing of less then N500b to pay salaries.

The mistake of GEJ was not only sharing the $25 billion dollars, his failure to utilize our earnings from crude sale is even bigger than sharing the ECA. Besides, you cannot blame the governors for insisting on sharing when they always came back to meet the account depleted without their knowledge and without satisfactory explanation for what the money was used for.

All your suggestions are what GMB/APC have already given an indication that it is the way they will operate by:
1. Blocking leakages
2. Leaner government
3. Persuading NASS to reduce allowances of political office holders
4. Providing incentives to recover looted funds after looking at previous probe reports
5. Merging of some ministries while also eliminating minister of state portfolios.
6. etc., etc.
All in all, the incoming government has shown capacity to do things very differently from the outgoing one.

75 Likes 7 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by obi4eze(m): 10:23am On May 07, 2015
Mr Barcanista,
I can see that you are beginning to change a bit. Well I don't care if you jump ship because I already know who you are.

Now to the issue on ground. You did well to state the way forward but you did not really highlight the failures of this government. The economy under this administration has not seen the light of day. Good luck Jonathan has been wasteful and plunged Nigeria into debt, which now stands at more than 50 billion dollars.

Gen Buhari will have a lot of work to do and you can't talk about a present without a past. He would have to clean up the mess and rot in the system. He would need capable hands to help revamp the economy and sustain it. His social welfare program is laudable and if done in phases, it would be a huge success. Corruption, if fought to a stand - still, will ensure that project funds are not lost to looters.

I have a firm belief in him that he would change things for better. I will be patient with him and pray for his success in governance.


God bless GMB.
God bless the Federal Republic of Nigeria.

43 Likes 2 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by IamOdin: 10:24am On May 07, 2015
I don't need stories,i need change!!.Afterall that's what i voted for!
Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:24am On May 07, 2015
buhari uv already said it all dat ur not a miracle worker


so we don't expect anything WOW from u


just loot and go

it's in u like peak milk

1 Like 1 Share

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Acekidc4(m): 10:26am On May 07, 2015
See this Parasite giving Buhari Advice!! SMH!!

13 Likes

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:27am On May 07, 2015
Acekidc4:
See this Parasite giving Buhari Advice!! SMH!!
Define the bold...

12 Likes 1 Share

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by unitysheart(m): 10:29am On May 07, 2015
Issokay.
Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by socialmediaman: 10:30am On May 07, 2015
I do not subscribe to the issue of more allowance to states to embezzle at this time.. Rather I prefer a FG-SG partnership that will bring more projects to each state through partnership. Let's say you want to engage in Agric as a state, bring 40%, FG brings 60%.. For now. The President-Elect in my opinion needs to invest in Job creation and local content development before even embarking on capital projects, because you will be fighting with insecurity if you focus on capital projects without putting youths on the ground working. He needs to look at the activities of FIRS, Customs, NPA, NCC, PHCN, NNPC etc and identify and seal all leaking revenue, so as to boost Nigeria's IGR

3 Likes

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by biafransoul: 10:31am On May 07, 2015
Hmmmm! You tried but the most important step to steer Nigeria towards part of greatness is for us to practice true fiscal federalism. Let every state manage their resources and pay tax to the central government. Everybody talks of oil in the Eastern region, what of the solid minerals in the northern and western regions worth billions of dollars being mined by their individuals without paying the corresponding taxes. What a country

19 Likes 2 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Acekidc4(m): 10:33am On May 07, 2015
barcanista:
Define the bold...

So I should tell you how you became a Parasite to Buhari?? Your Pre-election and post-election Talks and Comments says it All!!

8 Likes

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by omenka(m): 10:36am On May 07, 2015
I wouldn't be doing my conscience any good if I ignored this thread just as I do every other initiated by this op.

Still trying hard to promote a useless blog.

May I never progress in my life if I ever click on that link.

Reality is finally hitting a home run with the purveyors of the killer party ripping themselves apart. FFK, David Mark, Muazu, Olisa Metuh, all of them throwing lethal jabs at eachother. Their online scumscrubbers have no choice but to tone down their inane rhetoric and turn into unsolicited advisers.

This is one veiled little baby step in trying to return back to the fold of progress minded individuals. Your antics aren't gonna fly boy. Look for another lease of life. There would be no protection or ministerial aide position for you here.

Save all your advice for the many PDP minions like yourself on this forum. Hard times lie ahead for you lot. You would need those economic advice more than ever.

43 Likes 4 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by francizy(m): 10:36am On May 07, 2015
Acekidc4:


So I should tell you how you became a Parasite to Buhari?? Your Pre-election and post-election Talks and Comments says it All!!

Ogbeni face the topic at hand and stop throwing insults about like a ten years old kid still sucking his thumb.. Must Barcanister worship the same god you worship?

14 Likes 2 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Jk210(f): 10:37am On May 07, 2015
This is more like it.

Seeking solutions rather than just trying to villify

Opposition is always healthy for any democracy but when it becomes vindictive that's when its something else.

At precarious times like these with the economic realities starring us in the face, all hands must be on deck. If Nigeria works it will be to the benefit of us all regardless of tribal or religious affiliations.

For those wishing to secede there are legal and peaceful means of going about that rather than the tribal and ethnic jingoism going on around here.

A referendum is easy to ask for in any democratic society. We must stop all the tribal supremacy and hate mongering around here.

10 Likes 1 Share

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:39am On May 07, 2015
Acekidc4:


So I should tell you how you became a Parasite to Buhari?? Your Pre-election and post-election Talks and Comments says it All!!
You should check the meaning of "parasite" first before commenting.

4 Likes 1 Share

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Acekidc4(m): 10:40am On May 07, 2015
francizy:


Ogbeni face the topic at hand and stop throwing insults about like a ten years old kid still sucking his thumb.. Must Barcanister worship the same god you worship?

Must you Talk Back at me like a Foolish Boy Ni You definitely Lack Basic Home training

2 Likes 1 Share

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Acekidc4(m): 10:44am On May 07, 2015
barcanista:
You seem to check the meaning of "parasite" first before commenting.

Am saying something, you saying anoda thing!! What da Fvck is Wrong with You

3 Likes

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by BlackTechnology: 10:46am On May 07, 2015
Barcanista


The only way out is


TRUE FEDERALISM cool

13 Likes 2 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:47am On May 07, 2015
francizy:
Barcanister, nice one there, even the change agents will be happy with this your post... cheesy

I hope Bubu reads this tho...
We should give them real opposition (though some of them never gave Jonathan that). As for the "parasite guy", abeg make you leave am. The thread is not to massage the ego of "Change Agents" though but to state opinion for the growth of the nation.

1 Like

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:47am On May 07, 2015
biafransoul:
Hmmmm! You tried but the most important step to steer Nigeria towards part of greatness is for us to practice true fiscal federalism. Let every state manage their resources and pay tax to the central government. Everybody talks of oil in the Eastern region, what of the solid minerals in the northern and western regions worth billions of dollars being mined by their individuals without paying the corresponding taxes. What a country
BlackTechnology:
Barcanista


The only way out is


TRUE FEDERALISM cool
I stated that in the original write-up.. Let me bold the part
Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by socialmediaman: 10:49am On May 07, 2015
Lol. I told those chanting GEJ slogan they'll be shamed when GMB starts showing them what governance really means. Imagine a useless party like PDP inciting people with hate just to sit back in government and feast on the common wealth of Nigerians.



omenka:
I wouldn't be doing my conscience any good if I ignored this thread just as I do every other initiated by this op.

Still trying hard to promote a useless blog.

May I never progress in my life if I ever click on that link.

Reality is finally hitting a home run with the purveyors of the killer party ripping themselves apart. FFK, David Mark, Muazu, Olisa Metuh, all of them throwing lethal jabs at eachother. Their online scumscrubbers have no choice but to tone down their inane rhetoric and turn into unsolicited advisers.

This is one veiled little baby step in trying to return back to the fold of progress minded individuals. Your antics aren't gonna fly boy. Look for another lease of life. There would be no protection or ministerial aide position for you here.

Save all your advice for the many PDP minions like yourself on this forum. Hard times lie ahead for you lot. You would need those economic advice more than ever.

10 Likes

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Jorussia(m): 10:54am On May 07, 2015
nice write up,but will d militants allow FG under GMB stop amnesty programme?

1 Like

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:57am On May 07, 2015
Jorussia:
nice write up,but will d militants allow FG under GMB stop amnesty programme?
Why not if a better deal like Fiscal Federalism is on the table?
Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by PassingShot(m): 10:58am On May 07, 2015
BlackTechnology:
Barcanista


The only way out is


TRUE FEDERALISM cool

Nah! It's not and can never be the ONLY way out.

1 Like

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:59am On May 07, 2015
Good one bro. Indeed the days of mindless criticism are well over; it's time to show we all mean well for our dear nation!

I must confess, in the light of the current economic revelations from Okonjo, hard times await us as a people, and this purely due to poor administration and outright failures of the outgoing administration. We have NO business whatsoever borrowing to pay salaries and allowances of our people. It's a clear indication of failure.

I believe GMB is aware of these issues, hence his recent beating down of his electoral promises. Every sincere person knows GMB can't fulfil all those paradise promises. We will him well.

God bless Nigeria!

13 Likes 6 Shares

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 10:59am On May 07, 2015
PassingShot:


Nah! It's not and can never be the ONLY way out.
But Buhari advocated and promised to implement it in 2011. We have having so many challenges that should naturally be solved with FF in place.

1 Like

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Young03(m): 10:59am On May 07, 2015
Scraping of the amnesty programme will cause more harm dan good.
;during the tyme of yar' adua..there was an amnesty programme running den bt our economy was not somaultng as of nw..so buhari shud find anoda means ,joined to the ones u mentioned earlier bt not removin of amnesty programme.

I rest my case

1 Like

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Nobody: 11:01am On May 07, 2015
Young03:
Scraping of the amnesty programme will cause more harm dan good.
;during the tyme of yar' adua..there was an amnesty programme running den bt our economy was not somaultng as of nw..so buhari shud find anoda means ,joined to the ones u mentioned earlier bt not removin of amnesty programme.

I rest my case
The Amnesty program will not be necessary if the government implement FF. In fact, with FF, ND Ministry and NDDC should be scrapped along with the "Amnesty".

2 Likes

Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Young03(m): 11:05am On May 07, 2015
But don't u tink dat scraping it will bring a confict between d niger delta militants and nigeria as a whole and again, by this the biafrans will get their chance by supportin the militants and looking 4 a dichotomy in the country
barcanista:
The Amnesty program will not be necessary if the government implement FF. In fact, with FF, ND Ministry and NDDC should be scrapped along with the "Amnesty".
Re: Economic Realities: The Way Forward For President-elect Muhammadu Buhari by Whynotthetruth(m): 11:12am On May 07, 2015
Thanks to you Op for the write up...Buhari should run a government devoid of propaganda like most APC states and shun vindictiveness...

Now to you; obi4eze : Was Jonathan that plunged all APC states into mind boggling debts...with little or nothing to show for those debts...

Passingshot, if only you understand what constructive criticism is...maybe to you it is only massaging the ego of ruling party through subtle advise as this...otherwise it is met by insults and blackmail by you and fellow minions...

4 Likes

(1) (2) (3) (4) (5) (6) (7) (Reply)

Boko Haram Raids Borno Village Of Foodstuffs Then Sets It Ablaze / Photos : President Buhari Arrives UAE / Two Generator Thieves Caught In Sapele, Beaten & Paraded ( Graphic Pics + Video)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 64
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.