front247:
Right from d days of Adam and eve, Apc have been known to tell lies

And we are meant to burst these lies before they grow into a monster

TRUTHTOPOWER:


Senator McCain Campaign came crashing in 2008 when he declared that the fundamentals of the American economy was strong. Wall Street collapsed before he had time to reflect on his press statement. When you hear the slogan 'it is the economy,stu.pid' as used by Clinton, it talks about soccer mums and Joe the plumber, how their families can get mortgage, health insurance, and purchasing power.

There must be connection between your statistics and the experience in the labour force.

Now here this. NBS said 54% of Nigerian Youths were unemployed. (2012) According to the stats, it translates to 30 million. So the challenge before NOI and PDP was not rebasing GDP or bringing FDI. those are measures not results in policy articulation. the challenge was drastic reduction in employment rate. These implies doing something about inflation and lending rate for the sake of the challenge not as goals or ends of economic planning. Pls read Soludo on missing trillions. ignore the stealing aspect if you are not comfortable with that just concentrate on the relationship between measures and effect
vanguardngr.com/2015/02/ngozi-okonjo-iweala-missing-trillions-1-charles-soludo/
NOI et al promised 2 million jobs per year in order to address the deficit of 30 million. by 2019, 22 million would still unemployed. When you add new entrants of 2million per year to it. The proposal of NOI did nothing!

So what is the point of YouWin SureP, FDI. Admittedly they benifited the individuals who got slices of the national cake just as political handouts benefit party footsoldiers.

My Faith: Discipline and fear of moral reproach! That is the starting point. GEJ govt by his own admission saw nothing wrong in Fiscal rascality. he abeted felony, to wit, embezzlement and extortion, hellooooo! others are guilty is not a defence!

The task before is having kicked out indiscipline what can we do? That is in addition to the original plan of the new administration.

However if you believed your time is better served by romancing the corpse of a dead administration, it is your choice.

By the way, where do you think NOI is and what do you think she is doing? she is writing a book to tell the world that she is not responsible for the the documented crimes you are here claiming are nonexistent. Don't ask me how I know.

Bros, lots of muddling up of different issues in your write up...let me try to sort out some

1)I asked you question about buhari and you went on to talk Jonathan... only to finally accuse me of not getting over Jonathan ...smh...

2)FDI means Foreign Direct Investment... and it is a product of good policies and favourable macroeconomic variables...not what you were insinuating above...

3)If those macroeconomic variables were not aptly controlled by NOI; do you think we would be here talking?... Inflation remained single digit even when countries like Russia experienced worse under the oil price recession...Diversification of economy helped more...so whats your point?

4)To the best of my knowledge, those programs benefited individuals/poor masses more than any politician...YOUWIN, PRESSID etc are unrivalled initiatives since independence... Counter me here it you can...

5)Can you be specific in what you mean by fiscal rascality and other such crimes as you listed?

6)Corruption isn't a federal sin that can be cleansed through agencies...it is about our value system... it is ingrained already into the psyche of an average Nigerian... Let's be realistic...

7)I ask again what feeds your faith in buhari with regard to economic leadership?

socialmediaman:
@whynoruth, I stopped having conversations with you long ago due to your childish insults, but I'll try you once again.

Now, some of what you stated up there is true, except that we have no statistics to compare your submissions with; APC has not been at the central government long enough for us to know the difference! Just 3 months and you're already making comparison with a 16 year PDP government, what's your point exactly?

Nigerians' problem with OBJ the previous govenment of GEJ (infact, PDP in general) was not about good monetary or fiscal policy, but CORRUPTION, executive IRRESPONSIBILITY and absence of LAW ENFORCEMENT. I am talking about the central government here

You can drop your points without blackmailing me...

Back to topic; I did no comparison...I simply responded to some lies of APC against PDP and also showed how their assertion that what we are experiencing now is because of Jonathan/PDP is highly erroneous and false ...

PDP is a platform accommodating different personalities... but I think the worst of PDP are already out and they are members of APC or consultants to APC ...PDP as it is today, is far better than APC with regard to quality of individuals and sincere leadership...

Kenny987 proudly denied me when confronted by Candyrain ...What a life and revelation

Whynotthetruth:
Kenny987 proudly denied me when confronted by Candyrain ...What a life and revelation

Onye nkuzi 1! Ochie Dike! How is that possible na, ehn nna? Okwu gi nka n'ebute obi mgbowa! Okwa k'am mata oge anyi ji e bido 'crass' nke mgbede kam ji n'ekwu di kam si gwa Candyrain. Ke ki mere biko?

kenny987:


Onye nkuzi 1! Ochie Dike! How is that possible na, ehn nna? Okwu gi nka n'ebute obi mgbowa! Okwa k'am mata oge anyi ji e bido 'crass' nke mgbede kam ji n'ekwu di kam si gwa Candyrain. Ke ki mere biko?

Adim etu isi hapu m gbafuo ...I read ihe I gwara Candyrain ...that's why I am proud of Rose2014 who flaunts his Candyrain round and about ...Anyway, let's discuss economy and politics here ...Meet me at our rendezvous for other details...For now, go through the thread dropping your opinion on Original article and other posts on this thread...Ka ubulu gi chara oku ozigbo biko

Lalasticlala ...Obinoscopy...Kindly help here...thanks

Whynotthetruth:
Kenny987 proudly denied me when confronted by Candyrain ...What a life and revelation

Some days are like that brother, just take heart and I'm very optimistic that tomorrow will be better

kenny987:


Onye nkuzi 1! Ochie Dike! How is that possible na, ehn nna? Okwu gi nka n'ebute obi mgbowa! Okwa k'am mata oge anyi ji e bido 'crass' nke mgbede kam ji n'ekwu di kam si gwa Candyrain. Ke ki mere biko?

Nice one, "crass" very good one. Lol... All Whynotthetruth needs is FAITH, God will do the rest

Whynotthetruth:


Adim etu isi hapu m gbafuo ...I read ihe I gwara Candyrain ...that's why I am proud of Rose2014 who flaunts his Candyrain round and about ...Anyway, let's discuss economy and politics here ...Meet me at our rendezvous for other details...For now, go through the thread dropping your opinion on Original article and other posts on this thread...Ka ubulu gi chara oku ozigbo biko

@bolded. No be my fault ooo, Dee Jesus did it for me

Candyrain:


Nice one, "crass" very good one. Lol... All Whynottheuth needs is FAITH, God will do the rest

Crass fit make person crash Me dey fear for that kind thing ooo as kenny987 take talk am...e get as e be

Candyrain:

@bolded. No be my fault ooo, Dee Jesus did it for me

May he remember me too...Amen

And I say a big AMENNNNN

Whynotthetruth:

May he remember me too...Amen

Rawani ...what do you think?

Whynotthetruth:
Rawani ...what do you think?

The failure of the Jonathan government to exploit the roof shattering oil prices over the years they were in power and the irrational depletion of our foreign reserves are critical elements of our present economic woes. Your non-acknowledgment of these twin factors dents the objectivity and balance of your piece, which informed my initial pedestrian stance on this thread.

The wankking wankkers don't know this but they want us to believe that Bubu's body odour, oh sorry I meant body language, will fix the economy brother.

Whynotthetruth:


1)China has about $40billion investment for Africa with Nigeria as primary beneficiary as at Jonathan term...

2)China relationship with Nigeria was part of the reason US fought Jonathan... but he snubbed them for China...Now, we are pushing them away again...

3)China is our biggest trade partner and we can hardly afford to live without them...Snubbing us now means they would benefit as we import from them while we benefit Nothing from them...

4)China offers not just economic but also technical support to us...so how can we afford such loss?

Rawani:


The failure of the Jonathan government to exploit the roof shattering oil prices over the years they were in power and the irrational depletion of our foreign reserves are critical elements of our present economic woes. Your non-acknowledgment of these twin factors dents the objectivity and balance of your piece, which informed my initial pedestrian stance on this thread.

Roof shattering indeed ...Now did you read this;

6)Jonathan met about $47.7b in FR and left about $29.9b thanks to exchange rate differentials, subsidy variation, and recurrent expenditure increase. Yes, Oil sold at its peak so also did other legal expenditures. Remember, Obj paid 7500 to workers while Jonathan paid 18000(more than 150% increase); Obj paid 9700 to NYSC, Jonathan paid 19800(check percentage difference too). Not minding other great infrastructure investment like Abuja/Kaduna standard gauge, Lagos/Ibadan road, East/
West road, etc

Rawani:


The failure of the Jonathan government to exploit the roof shattering oil prices over the years they were in power and the irrational depletion of our foreign reserves are critical elements of our present economic woes. Your non-acknowledgment of these twin factors dents the objectivity and balance of your piece, which informed my initial pedestrian stance on this thread.

Roof shattering indeed ...Now did you read this;

6)Jonathan met about $47.7b in FR and left about $29.9b thanks to exchange rate differentials, subsidy variation, and recurrent expenditure increase. Yes, Oil sold at its peak so also did other legal expenditures. Remember, Obj paid 7500 to workers while Jonathan paid 18000(more than 150% increase); Obj paid 9700 to NYSC, Jonathan paid 19800(check percentage difference too). Not minding other great infrastructure investment like Abuja/Kaduna standard gauge, Lagos/Ibadan road, East/
West road, etc

So what's the issue?

Candyrain:
The wankking wankkers don't know this but they want us to believe that Bubu's body odour, oh sorry I meant body language, will fix the economy brother.

I was shocked to see Passingshot dismiss China with wave of hand ...smh

Whynotthetruth:


Roof shattering indeed ...Now did you read this;



So what's the issue?

This uninformed distortion of priorities, coupled with wanton looting with impunity is exactly what contributed to this present economic mess. The economy should have been effectively diversified into multiple income streams from agriculture, solid minerals et al. with the generous surpluses we enjoyed during GEJ's reign, instead of increasing recurrent expenditure first. Now oil prices have plummeted by over 90% and you all want to slay Buhari.

Rawani:


This uninformed distortion of priorities, coupled with wanton looting with impunity is exactly what contributed to this present economic mess. The economy should have been effectively diversified into multiple income streams from agriculture, solid minerals et al. with the generous surpluses we enjoyed during GEJ's reign, instead of increasing recurrent expenditure first. Now oil prices have plummeted by over 90% and you all want to slay Buhari.

What's the relationship between looting you used above and increasing salary thanks to NLC agitation and realities on ground which showed that 7500 a month isn't sufficient to feed a civil servant...Did agriculture not receive plausible attention that we even experienced dry season agriculture under Jonathan?.. Solid Minerals is riddled with litigations thanks to Obj though Jonathan succeeded in taking out most of them...

Rawani:


This uninformed distortion of priorities, coupled with wanton looting with impunity is exactly what contributed to this present economic mess. The economy should have been effectively diversified into multiple income streams from agriculture, solid minerals et al. with the generous surpluses we enjoyed during GEJ's reign, instead of increasing recurrent expenditure first. Now oil prices have plummeted by over 90% and you all want to slay Buhari.

BTW oil price reduced by about 50% average... so don't get it twisted plz...

Buhari isn't crucified because oil price collapsed but because he's destroying SME's and killing investments cum investors with negative policies...in all damaging the economy...

Whynotthetruth:


BTW oil price reduced by about 50% average... so don't get it twisted plz...

Buhari isn't crucified because oil price collapsed but because he's destroying SME's and killing investments cum investors with negative policies...in all damaging the economy...

An example of such 'negative' policies would help.

Rawani:


An example of such 'negative' policies would help.

His monetary policy on liquidity(dollar policy)... which forced JP Morgan sanction and for which SME's(engine of every economy) are hurting now, downsizing, closing shop etc ...

Whynotthetruth:


His monetary policy on liquidity(dollar policy)... which forced JP Morgan sanction and for which SME's(engine of every economy) are hurting now, downsizing, closing shop etc ...

And whats negative about defending the Naira? Nigeria will have to devalue her currency in order to suit their whims which will propel inflation (and importation costs). The struggle to cope by businesses will likely result in downsizing and the consequent rise in unemployment.

Rawani:


And whats negative about defending the Naira? Nigeria will have to devalue her currency in order to suit their whims which will propel inflation (and importation costs). The struggle to cope by businesses will likely result in downsizing and the consequent rise in unemployment.

There are better ways to defend the Naira than buhari is doing now...which is a repeat of mess he did in 1984/85...

1)There's no finance minister/economic team to articulate fiscal policy to complement monetary policy...

2)He's not applying 2015 expenditure hence crippling some sectors but he's using revenue from 2015...

3)His policy is already killing SME's who drive our economy... aside foreign investments or investors from JP Morgan and co...

4)China just relegated us to the background... Do you understand the cost implication to Nigeria?

5)Buhari is doing nothing and seems overwhelmed with the job...His analogue brain can't solve digital problem... He could not back then in his prime...how about now?

6)Allow naira to find its level in money market though you guide it through the path... but don't physically control it as it is done now...because the negative effect seems more than positive effect...

Rawani:

And whats negative about defending the Naira? Nigeria will have to devalue her currency in order to suit their whims which will propel inflation (and importation costs). The struggle to cope by businesses will likely result in downsizing and the consequent rise in unemployment.

There are no free lunches in economics.You cannot defend a currency if you have insufficient foreign reserves. If you try to, you will either deplete your reserves or cause a huge divergence between the official and parallel exchange rates. A more recent and apt example was the Abacha era: 22 and 85 Naira to the dollar at the official and parallel markets respectively.

If the CBN persists in an Abacha style forex policy, forex will become scarce and the demand for forex in the official market will have to be rationed. This rationing will cause prices to go up as the previously imported goods can no longer be imported and as many importers source their forex from the parallel market. So the inflation and job losses will happen anyway. Abacha economics simply delays the inevitable, creates distortions and an attractive avenue for round tripping.

By allowing the market to set the exchange rate as has been recommended by JP Morgan, the increase in import costs curbs dollar demand naturally whilst making Nigeria an attractive destination for foreign investors as the cheaper Naira denominated assets prove a lure. It is by this means that equilibrium is achieved as the Naira finds it natural rate at a better level than would be the case if a ham-fisted attempt is made by the CBN to fix a level.

All this will be obvious in due course.

4Play:


There are no free lunches in economics.You cannot defend a currency if you have insufficient foreign reserves. If you try to, you will either deplete your reserves or cause a huge divergence between the official and parallel exchange rates. A more recent and apt example was the Abacha era: 22 and 85 Naira to the dollar at the official and parallel markets respectively.

If the CBN persists in an Abacha style forex policy, forex will become scarce and the demand for forex in the official market will have to be rationed. This rationing will cause prices to go up as the previously imported goods can no longer be imported and as many importers source their forex from the parallel market. So the inflation and job losses will happen anyway. Abacha economics simply delays the inevitable, creates distortions and an attractive avenue for round tripping.

By allowing the market to set the exchange rate as has been recommended by JP Morgan, the increase in import costs curbs dollar demand naturally whilst making Nigeria an attractive destination for foreign investors as the cheaper Naira denominated assets prove a lure. It is by this means that equilibrium is achieved as the Naira finds it natural rate at a better level than would be the case if a ham-fisted attempt is made by the CBN to fix a level.

All this will be obvious in due course.

Valid perspective.

#INTELLIGENTSIA
Unlike the piece of crap put out yesterday by the unintelligent PASSING whatchamacallit, this is a cleverly put together article. To know where this economy is heading, all you need to do is research on the Abacha opaque government. The President, was an important member of that government, and so believes in the practices that were prevalent in that regime. In such an administration, practices such as Monopoly, scarcity, closed economy, non conformity to global economic practices, Agricultural illiteracy, nepotism, regionalism, bigotry, high mortality rate, moribund infrastructure and institutions, abuse of protocol and the law, economic madness, lack of fiscal policies E.T.C. This practices will become the order of the day, in a year from now. That is the only way PMB knows how to run a government. Youths on this platform who are in support of the President, are the next thing to a home for retards. They will be the worst hit in this government, while this practices, will surprisingly improve the businesses of the eastern elephants, who thrive better in such an environment. When the dust settles, the eyes of the blind SW's will bring out more water than the Kainji dam.

Whynotthetruth:


Looking at original post...what feeds your faith?

PDP senator, sponsored by Fayose (your hero), member of adhoc committee on power affirmed that the fear of PMB restored sanity to the power sector. challenge her for speakingTruthToPower. see her remarks here:
informationng.com/2015/09/ekiti-senator-confirms-buhariphobia-behind-improved-power-supply.html
"IT IS THE FEAR THST THE NEW ADMINISTRATION MIGHT MOVE AGAINST THEM LED TO THE IMPROVEMENT" IN POWER SUPPLY· NOW CHALLENGE HER IN LIGHT OF HER "CREDENTIALS" or this is an exception to your credential rule NOI case· 989900

TRUTHTOPOWER:


PDP senator, sponsored by Fayose (your hero), member of adhoc committee on power affirmed that the fear of PMB restored sanity to the power sector. challenge her for speakingTruthToPower. see her remarks here:
informationng.com/2015/09/ekiti-senator-confirms-buhariphobia-behind-improved-power-supply.html
"IT IS THE FEAR THST THE NEW ADMINISTRATION MIGHT MOVE AGAINST THEM LED TO THE IMPROVEMENT" IN POWER SUPPLY· NOW CHALLENGE HER IN LIGHT OF HER "CREDENTIALS" or this is an exception to your credential rule NOI case· 989900

I am not treating power here yet...but if it is about body language... I hope he applies same to the economy because it isn't funny for now...

4Play:


There are no free lunches in economics.You cannot defend a currency if you have insufficient foreign reserves. If you try to, you will either deplete your reserves or cause a huge divergence between the official and parallel exchange rates. A more recent and apt example was the Abacha era: 22 and 85 Naira to the dollar at the official and parallel markets respectively.

If the CBN persists in an Abacha style forex policy, forex will become scarce and the demand for forex in the official market will have to be rationed. This rationing will cause prices to go up as the previously imported goods can no longer be imported and as many importers source their forex from the parallel market. So the inflation and job losses will happen anyway. Abacha economics simply delays the inevitable, creates distortions and an attractive avenue for round tripping.

By allowing the market to set the exchange rate as has been recommended by JP Morgan, the increase in import costs curbs dollar demand naturally whilst making Nigeria an attractive destination for foreign investors as the cheaper Naira denominated assets prove a lure. It is by this means that equilibrium is achieved as the Naira finds it natural rate at a better level than would be the case if a ham-fisted attempt is made by the CBN to fix a level.

All this will be obvious in due course.

Thanks bro...

Cc. TruthtoPower ... 989900