The present economic team of the APC-Buhari administration is a colossal failure and Nigerians cannot continue to accept this ineptitude. It is clear that there are no clear cut economic policy. If there is, I would like someone to help me confirm the direction of the administration.

National Budget 2016
It is appalling that we have an economic team that cannot put together a National Budget. The idea of zero-based budgeting is sound, but the numbers presented on the budget submitted to NASS are unpardonable. I begin to wonder if the team believed that zero-based means adding zeros to the numbers. It is even more disgusting to hear that the budget presented with fan-fare was withdrawn and Nigerians were being lied to. How on earth could a finance team not try to compare numbers and trends before bringing it to the who world? If that budget was made for a corporate organisation, the CFO or Finance Controller would be relieved of his position, not to talk of a whole nation.
On the budget itself, we have continued to focus on oil to fund the budget. A bigger issue is borrowing to fund recurrent expenditures, buying cars and renovation of guest houses, etc. I am saddened that the change expected is nowhere in the budget. The presidency has however increased their spending from where Jonathan left off by about N15 Billion. Haba!!! We mouth it every now and then that we want to diversify from oil, yet the budget for Ministry of Information is higher than allocation for Agriculture. How do we want to diversify??

Stock-market crash
Daily we hear of the losses recorded on the floor of the Nigerian Stock market. In the last 9 months since this administration took office, the NSM all share index has lost a whooping N10.1 Trillion (that is almost double the size of our 2016 budget), yet we have some people collecting salaries and allowances as Nigeria economic team. What a disaster?

Exchange rate
This is another pathetic story. The Naira is fast competing with the Zimbabwean Dollar in area of free-fall. What is really the issue hear? It is unfortunate that the CBN and the Ministry of Finance have been issuing impracticable and unprofessional guidelines to keep the Naira from depreciation. Imagine implementing 1984 policy of banning deposit into domiciliary account in 2015. In 1984, it worked when Buhari regime found cash stashed in people home (Barkinzuwo was a good case), but that was 1984 (31 years ago). Today, people do not keep cash as most big transactions are paperless, yet our economic team could not advice the president. After 9 months on this fruitless journey, I am wondering what this policy achieved. Did we catch anyone with stolen dollar or stashed in his bedroom or overhead tank Rather we have succeeded in destroying what is left of the small scale businesses that thrive on small time buying and selling. We have destroyed the Naira to the extent that Dollar is now exchanging for N305.00. After this rigmarole, you suddenly realise that your policy was a folly. What a shame?

Borrowing about N2Trillion and Taxes
We are borrowing N2T and no where did we have a projected cash flow statement as to how this would used and how and when it would be repaid. Are we to incur debts for the future generation to start another debt cancellation negotiation with IMF and World bank in the future? What is the Ministry of Solid Mineral doing? A country like South Africa has a big mining industry, yet down here we have private miners who do not even pay taxes. Talking about taxes, you are banning imports and yet projecting huge receipts from customs duties. HOW? Did we deep-dive on those numbers or are they just "zero-based budget" numbers? Same applies to company income taxes, how do you project taxes out of loss making corporations?

In conclusion, Buhari should as a matter of pride disband this economic team and chose a team of tested professionals. Earlier, we were told names like Utomi, Soludo, and other tested and experienced hands were coming on board only to be presented with a team that appear overwhelmed by the enormity of the challenges of managing the national economy. The national economic management is not, I repeat, NOT for trainees.

Abeg scratch Soludo from that list.

Let us try Pat Utomi.

I still cannot figure out why Adeosun was made Minister of Finance when she goofed in her home state. Na jor say she be Yoruba. Make them live the finance ministry for the ethnicity that has been hitting it back to back in the financial sector.

-Lord

.[color=#006600]Now are beiginnig to kwn the meaning of cluelessiness. I wonder why adams and co are nomoretalking. Karma!..

The Opioro mango head no go Wan listen