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Okonjo-iweala, A Failure —henry Boyo - Politics (3) - Nairaland

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Why Nigerians Will Become Poorer With Rising Oil Prices - Henry Boyo / Where's The $7billion Placed In 14 Banks By Soludo? Henry Boyo / Ngozi Okonjo-Iweala "A Grave Sin Of Cowardice" - By Ugoji Egbujo (2) (3) (4)

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Re: Okonjo-iweala, A Failure —henry Boyo by Nobody: 6:05pm On Sep 10, 2015
tell us something we dont already know....
Re: Okonjo-iweala, A Failure —henry Boyo by ExInferis(m): 6:15pm On Sep 10, 2015
OZAOEKPE:
"Who's henry boyo?" Quote me anywhere.

I'm quoting you here

henry boyo is one of few smart people who recognized that fat, flat-nose, flat head old igboe madam for the failure she is.

but then, nothing good ever comes out of the east.

3 Likes

Re: Okonjo-iweala, A Failure —henry Boyo by Pennywise(m): 6:17pm On Sep 10, 2015
okonjo iweala is nothing but a fraud. Soludo said so and I believe him. She rose through the ranks at the world bank taking advantage of female empowerment mantra not merit.

She should be tried along with her boss for economic sabotage and incompetence.

2 Likes

Re: Okonjo-iweala, A Failure —henry Boyo by petermichaels(m): 6:24pm On Sep 10, 2015
She has 2 fail because pple lyk dis do d marking. Wat happns wen a dullard mark yor waec script? I leave d ansa 4u.

1 Like

Re: Okonjo-iweala, A Failure —henry Boyo by Btruth: 6:25pm On Sep 10, 2015
Didn't read all the article, but the little that I read has confirmed my belief that both the ex- President and his former minister of finance were both clueless on how to run a classroom talkless of running the affairs of a country. Anyway, thank God for the new change. At least, we are hopeful now.

2 Likes

Re: Okonjo-iweala, A Failure —henry Boyo by TruthisOut: 6:25pm On Sep 10, 2015
Attention seeker.

1 Like

Re: Okonjo-iweala, A Failure —henry Boyo by wiseoneking: 6:27pm On Sep 10, 2015
I have to confess that i did not read such a shit damn stuff about ngozi. This does not remove Ngozi as the most powerful woman in Nigeria, the second the whole Africa and among the first 40 out of world greatest personality with the Dangote coming in far sixties out of the hundred. She is a potential world bank president. With a great family: both parents are professors, husband a professor in medicines, most of her kids graduated in their teens and becoming Phd holders in their twenties. She has done all for this ungrateful country despite the fact she is not a citizen of Nigeria. She once told the story how she was involved in cooking and fetching water for Biafran soldiers. Look at what is happening to the economy of Nigeria today just because of her 3 months exit from govt. We easily forget but not Ngozi's great achievement. WE NEVER KNEW WHAT WE HAVE UNTIL WE LOOSE IT.
Re: Okonjo-iweala, A Failure —henry Boyo by petermichaels(m): 6:29pm On Sep 10, 2015
ExInferis:


I'm quoting you here

henry boyo is one of few smart people who recognized that fat, flat-nose, flat head old igboe madam for the failure she is.

but then, nothing good ever comes out of the east.
Ok na,we can see d handsome or legsome presidnt dat comes 4rm d north and d beta things/pple dat are coming 4rm d north. May God 4giv or evn 5giv u cos u ar lost.
Re: Okonjo-iweala, A Failure —henry Boyo by demandtruth: 6:34pm On Sep 10, 2015
baralatie:


it pays to read!even from your own text,
Mrs Okonjo Iweala is Spot on abd Accurate!!!
@989900

You are very empty

All that you cut and paste there, is not even understood by you.
Nothing at all you understand in economics. Same as the other guy.

Read how logically @989900 backed up his opinion. He's not far from the truth.
He understands what he's talking about.

NoI was a total abysmal failure!

2 Likes

Re: Okonjo-iweala, A Failure —henry Boyo by neocortex: 6:34pm On Sep 10, 2015
989900:


"In the first place, no country pays every debt it owes when its people are suffering. In addition, there was evidence that we had paid the initial debt owed several times over and yet we were told to pay 12 billion dollars to be able to get a reprieve of God knows what, at a time when poverty in the country was deepening." --Boyo.

The above was what he said, the right question you should be asking is: what evidence?

The rest assumptions and comments you made (while you are entitled to your opinions), are just what they are . . .

Same way I can relate to Soludo's take on NOI's pedigree as VP admin at the world bank, does not make her qualified for the job.


BTW, Mr. Boyo mentioned a whole lof indisputable points; maybe if you read again with an open mind, you might agree with quite a good number of them.

You and boyo are just trying to deceive Nigerians.
If you borrowed 1000 naira from a bank ,have you settled your debts when you pay back the 1000 nairaland ?
Hell no, in fact you can pay up to 20,000 and still be owing depending on the terms of your loan.

The pseudo-economist boyo should have simply tell
us the terms of the loan have been met as at that time
instead he is relying on ignorance of Nigerians to
cast blame on his perceived enemies.

I think Boyo is very much needed in Greece which has
also serviced their debts several times over so that he can help them challenge the Eurozone banks.

Economist my foot.
Re: Okonjo-iweala, A Failure —henry Boyo by Nobody: 6:34pm On Sep 10, 2015
Demdem:
Iweala first coming with OBJ was a success while her second coming was indeed a curse. I blame Jonah-daft. His curse rubbed on the witch.

Stupid yoruba islamist
Re: Okonjo-iweala, A Failure —henry Boyo by Dee60: 6:35pm On Sep 10, 2015
To pay $12 billion to the Paris club banks and 6 years later, we have stacked up more debts again is scandalous!

I do not know if NOI performed or if she did not. I guess she should have resigned like Remi Babalola did when the government of yesterday started their senseless spending and when lootocracy became the order of the day!

She cant absolve herself now because she was THE COORDINATING MINISTER of the economy!

2 Likes

Re: Okonjo-iweala, A Failure —henry Boyo by CandyBar: 6:44pm On Sep 10, 2015
She did not Fail, She Successfully LOOTED and WRECKED Nigerian Economy

4 Likes

Re: Okonjo-iweala, A Failure —henry Boyo by ICEMAN(m): 6:45pm On Sep 10, 2015
OZAOEKPE:
"Who's henry boyo?" Quote me anywhere.

Henry Boyo is a slowpoke.

1 Like

Re: Okonjo-iweala, A Failure —henry Boyo by mentorandfriend(m): 6:48pm On Sep 10, 2015
Demdem:
Iweala first coming with OBJ was a success while her second coming was indeed a curse. I blame Jonah-daft. His curse rubbed on the witch.
grin grin grin
Re: Okonjo-iweala, A Failure —henry Boyo by Image123(m): 6:50pm On Sep 10, 2015
wiseoneking:
I have to confess that i did not read such a shit damn stuff about ngozi. This does not remove Ngozi as the most powerful woman in Nigeria, the second the whole Africa and among the first 40 out of world greatest personality with the Dangote coming in far sixties out of the hundred. She is a potential world bank president. With a great family: both parents are professors, husband a professor in medicines, most of her kids graduated in their teens and becoming Phd holders in their twenties. She has done all for this ungrateful country despite the fact she is not a citizen of Nigeria. She once told the story how she was involved in cooking and fetching water for Biafran soldiers. Look at what is happening to the economy of Nigeria today just because of her 3 months exit from govt. We easily forget but not Ngozi's great achievement. WE NEVER KNEW WHAT WE HAVE UNTIL WE LOOSE IT.

Complete yadayada. NOI is not a Nigerian? What is she,an alien? Inferiority complex dey worry you.
Nobody is assessing NOI's family life, religion, education or social life. The assessment is on her performance as coordinating minister of our economy and finance.

5 Likes 1 Share

Re: Okonjo-iweala, A Failure —henry Boyo by mekaboy(m): 6:54pm On Sep 10, 2015
Dee60:
To pay $12 billion to the Paris club banks and 6 years later, we have stacked up more debts again is scandalous!

I do not know if NOI performed or if she did not. I guess she should have resigned like Remi Babalola did when the government of yesterday started their senseless spending and when lootocracy became the order of the day!

She cant absolve herself now because she was THE COORDINATING MINISTER of the economy!

Why will she resign? Her responsibility as a finance minister is to advice the govt. She has no power to force the govt to act on her advice.

She even has no business or power over the central bank of Nigeria. Anything regarding currency is not her business.

When she adviced that Nigeria should save, oshomole and his team of short sighted govnors said they shld share it all . Oshomole even wanted to borrow more and she refused.

Those who are saying Nigeria accumulated debt under her, let me ask you, has Nigeria been the same population since obasanjos administration?

Is the same size of food you ate when u were 3 yrs old that you eat today?

Or you dont know how much Nigeria pays on fuel and other subsidies? Most of protested when it was removed.

Where else does Nigeria get money? Is her fault that we did not diversity our economy since?

Yes Nigeria borrowed, she approved because we needed the money. It is the responsibility of the EFCC ICPC and others to make sure the money was used properly.

This issue should not be how much was borrowed, but what the money was used for.

You should now go and ask your governors who upgrade personal websites with 78m.
Re: Okonjo-iweala, A Failure —henry Boyo by TRUTHTOPOWER: 6:54pm On Sep 10, 2015
hinwazaka:
An economist who does not know the true debt service ratio in the country from 1960-2007 is no economist. Imagine an economist saying that we had paid our debts several times over before 2007. Henry Boyo is nothing but a fraud. As at 1997, our official external debt stock, stood at $27.012 billion. How in gods name, Mr boyo said we have serviced all our debts, with a sober mind is puzzling. He is in no way of NOI's standard. Why doesn't he go and get an appointment in world bank. If he could not see the brilliance behind, Madam NOI's economic strategy, then he should ask for a refund from his alma mata. What a joke.

If we take your post as a genuine observation order than a prejudiced retort then we owe you a duty of enlightenment.

Google the word Fallacy argumentum. you will notice ad hominen fallacy and appeal to authority.

What you should fault are the facts upon which he based his conclusion.

What is the lending rate? what is the expenditure ratio for both capital and recurrent? what is the inflation rate? what is the unemployment rate?

If there was no substantial improvement (between mere 10% -40%) in these indeces within 6 yrs. then you are free to glorify any one for whatever reason - certainly not on substantial growth. the only way out is to raise a defense of natural or some artificial disaster for a disastrous performance. that will be valid if verifiable.

Imagine what Aba entrepreneurs would do with favourable economic policies. rather the poor guys are reduced to importers of goods from China instead of job cteators. as we speak no accessible stimulus fund for them and no social safety net on any sustainable basis. SURE-P was based on treacherous oil prices!

WHAT IS THE NATIONWIDE INCENTIVE for job creation OR Sustainable economic relief under the Wizard of Bretton Woods (madam iweala)?
What percentage of our national budget was consumed by politicians and civil servants (who are no more than 10% of total population) and what percentage tricklef down on the remaining 90% as expenditure on human capital development? Google this. if after this you validate national poverty with World bank CVs, then, of course, we cannot have any debate in any connection to which socio-economic intelligence can be attached. What is left is tribalim or nepotism and we respect your choice to view the world you live in through this spectacle.

PS if the conditions under GEJ persist under PMB after 12 months, then the govt will have erred. After 3 years, it is a write off. no sentiment.

3 Likes 1 Share

Re: Okonjo-iweala, A Failure —henry Boyo by courage89(m): 6:56pm On Sep 10, 2015
hinwazaka:
An economist who does not know the true debt service ratio in the country from 1960-2007 is no economist. Imagine an economist saying that we had paid our debts several times over before 2007. Henry Boyo is nothing but a fraud. As at 1997, our official external debt stock, stood at $27.012 billion. How in gods name, Mr boyo said we have serviced all our debts, with a sober mind is puzzling. He is in no way of NOI's standard. Why doesn't he go and get an appointment in world bank. If he could not see the brilliance behind, Madam NOI's economic strategy, then he should ask for a refund from his alma mata. What a joke.

This article is not an academic / professional comparison between Henry Boyo and Okonjo Iweala. Its more of sober reflection and criticism of decisions that were made under the watch of Iweala. Please, kill the message and not the messanger.

2 Likes

Re: Okonjo-iweala, A Failure —henry Boyo by melzabull(f): 6:57pm On Sep 10, 2015
sukkot:
okonjo eleke kpuff kpuff
Farrrr better than your elede mama

1 Like

Re: Okonjo-iweala, A Failure —henry Boyo by Dospix(m): 6:57pm On Sep 10, 2015
We should never take the likes of Boyo serious. These are the kind of people that would promise us magical wand, but when they are given the opportunity to do the magic they would out-rightly bluff. It is easy to criticize someone and discredit all their achievements...Nigerians must be weary of individuals like Boyo. NOI didn't get to where she is today by mere luck; she worked hard and her hard work will continue to speak for her. I expect NOI to reply this bunkum of an opinion.

1 Like

Re: Okonjo-iweala, A Failure —henry Boyo by Nobody: 6:58pm On Sep 10, 2015
hinwazaka:
An economist who does not know the true debt service ratio in the country from 1960-2007 is no economist. Imagine an economist saying that we had paid our debts several times over before 2007. Henry Boyo is nothing but a fraud. As at 1997, our official external debt stock, stood at $27.012 billion. How in gods name, Mr boyo said we have serviced all our debts, with a sober mind is puzzling. He is in no way of NOI's standard. Why doesn't he go and get an appointment in world bank. If he could not see the brilliance behind, Madam NOI's economic strategy, then he should ask for a refund from his alma mata. What a joke.
It doesn't matter who he is or how poor an economist he is, as long as anything he is saying portray Jonathan in bad light than is he okay. It doesn't matter that investors that were coming before may 29 are now going else where. All that matter now is to keep throwing Jonathan into some people's faces to cover up the obvious confusion going on with buhari. oshiomole's rant is not producing the desire result, therefore dig up some obscure persons to say things even if they don't know what they are talking about. Some Nigerians will buy it.

1 Like

Re: Okonjo-iweala, A Failure —henry Boyo by melzabull(f): 6:59pm On Sep 10, 2015
ICEMAN:

Henry Boyo is a slowpoke.
A very BIG slowpoke

1 Like

Re: Okonjo-iweala, A Failure —henry Boyo by sukkot: 6:59pm On Sep 10, 2015
melzabull:
Farrrr better than your elede mama
crase dey worry you. yaba left is that way --------------->
Re: Okonjo-iweala, A Failure —henry Boyo by ping72: 7:01pm On Sep 10, 2015
The question you should be asking yourself is : Is the average Nigerian richer or poorer since the commencement of her tenure to its termination?
hinwazaka:
An economist who does not know the true debt service ratio in the country from 1960-2007 is no economist. Imagine an economist saying that we had paid our debts several times over before 2007. Henry Boyo is nothing but a fraud. As at 1997, our official external debt stock, stood at $27.012 billion. How in gods name, Mr boyo said we have serviced all our debts, with a sober mind is puzzling. He is in no way of NOI's standard. Why doesn't he go and get an appointment in world bank. If he could not see the brilliance behind, Madam NOI's economic strategy, then he should ask for a refund from his alma mata. What a joke.

2 Likes

Re: Okonjo-iweala, A Failure —henry Boyo by melzabull(f): 7:03pm On Sep 10, 2015
sukkot:
crase dey worry you. yaba left is that way --------------->
you are mad..like your lunatic mother
Re: Okonjo-iweala, A Failure —henry Boyo by sukkot: 7:05pm On Sep 10, 2015
melzabull:
you are mad..like your lunatic mother
walahi something dey worry you today shocked
Re: Okonjo-iweala, A Failure —henry Boyo by Demdem(m): 7:07pm On Sep 10, 2015
CuckoldMaster:


Stupid yoruba islamist

Fool, i lie?
Re: Okonjo-iweala, A Failure —henry Boyo by 4Play(m): 7:09pm On Sep 10, 2015
This interview was in May 2015, odd that a 4 months old article is being resurrected today. Much of the criticism is the same tiresome cliched shallow commentary you get accustomed to hearing amongst Nigerians.

When he made a rare attempt to venture into offering policy solutions, something he said caught my interest.
Excess liquidity is the cause of high interest rates, high rate of inflation and a weak exchange rate that also gives rise to subsidy component in fuel pricing. So, if you are a sensible person, you will look for the root cause of excess liquidity. And excess liquidity is caused every time the CBN captures the dollar earnings of the country and substitutes Naira. The Naira substituted by the CBN is what instigates excess liquidity within the system.

If excess liquidity is causing high interest rates, inflation and a weak exchange rates and excess liquidity is caused by the CBN capturing dollar earnings, a reduction in dollar earnings would, ceteris paribus, reduce interest rates and inflation in addition to strenghtening the Naira. Instead, with the reduction in dollar revenue caused by lower oil prices, we have seen even much higher interest and inflation rates in addition to a weaker currency.

In my view, inflation is largely a result of the supply side or infrastructural constraints which make the costs of running businesses high - lack of power, electricity and security. Boyo kept on harping on reducing interest rates but reducing rates would increase liquidity, which he blames for inflation and high interest rates. Interest rates reflect the inflationary pressures an economy faces. A finance minister, it's not their responsibility anyway but the CBN governor's, cannot reduce interest rates at a whim.

All the other claims pertaining high recurrent expenditure and debts are the sort of things people say when they are playing to the gallery. Recurrent expenditure is mainly made up of the salaries of government workers. If you are serious about tackling this, you would need to cut salaries and or reduce staff headcount. No amount of posturing will change that.

1 Like

Re: Okonjo-iweala, A Failure —henry Boyo by Image123(m): 7:11pm On Sep 10, 2015
Dospix:
We should never take the likes of Boyo serious. These are the kind of people that would promise us magical wand, but when they are given the opportunity to do the magic they would out-rightly bluff. It is easy to criticize someone and discredit all their achievements...Nigerians must be weary of individuals like Boyo. NOI didn't get to where she is today by mere luck; she worked hard and her hard work will continue to speak for her. I expect NOI to reply this bunkum of an opinion.

I expect her not to reply, she cannot reply. The facts are very clear.
Re: Okonjo-iweala, A Failure —henry Boyo by baralatie(m): 7:12pm On Sep 10, 2015
demandtruth:


You are very empty

All that you cut and paste there, is not even understood by you.
Nothing at all you understand in economics. Same as the other guy.

Read how logically @989900 backed up his opinion. He's not far from the truth.
He understands what he's talking about.

NoI was a total abysmal failure!
let me break it down for you since you coukd not take time to read that Simple History of Nigeria Financial Outlook!
The issue WORKS LIKE YOUR REGULAR BANK LOAN

1,Nigeria goes to collect a certain amount of money(PRINCIPAL ) in DOLLARS CURRENCY
2,Nigeria is To be Charged INTEREST ON THE PRINCIPAL It borrowed and It is IN DOLLARS
3,Nigeria was not paying out its debt but was SERVICING THE DEBT BY PAYING THE INTEREST IN THAT DEBT.
4,Unfortunately ALONG THE LINE,Nigeria was not able to MEET UP ITS OBLIGATIONS OF SERVICING THE DEBT AND WAS PENALISED WITH A FEE.
5.As Nigeria economy was growing so was its expenditure and ITS Revenue BASE(oil) was not INCREASING
6.Nigeria Foreign Debt and Servicing Was NOW 150% of N IGERIAS OIL REVEN UE

it means for Nigeria to solve that debt Burden it will either
a,remain under an increasing debt of 200% and above
b,service the debt and have nothing to pat salaries,wages or even build infrastructure
c,pay part of the service charge and be further penalized.
d,go to your creditors and beg for forgiveness I.e to cancel your debt and pay small change.

Now you have taken path of 6d(fine)
the questions are what next for the NIGERIAN ECONOMY.

Nigeria was and STILL IS AN IMPORT BASED ECONOMY
1,it means your Balance of Payment(in dollars ) or Balance of Trade is not in FAVOR OF THE NAIRA.
Nigerian Govt Has to Pay For the Dollar to Do Business (IT LITERARILY MEANS NAINJA MUST BORROW)
2,Since that is the case.Nigeria had to PRIOTIZE HER FOREIGN DOLLAR IMPORTS and it was observed
2a,Oil Subsidy took 25% of your Foreign earnings
3,Now for Nigeria to borrow and not to enter problem with the DOLLAR.It decided to borrow in Local Currency(though it is presented as dollar)
3a,that is why you are not feeling the HEAT OF THE DOLLAR.

4,it was also clear that Nigeria need to ACCESS THAT DOLLAR THROUGH FDI(in order to promote growth)

I hope you now understand the SUCCESS THAT OKONJI IWEALA ACHIEVED.IT IS IMMENSE!


Please read that article I attached on this thread.and you will understand it more!

Thank you!

3 Likes 1 Share

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