President Muhammadu Buhari has approved the
convocation of a national economic conference aimed at
rallying the country together to offer solutions to the current
economic challenges facing Nigeria.
A top government official, who spoke on condition of
anonymity, disclosed this to a group of journalists in Abuja
on Thursday.
The approval came barely a week after Nobel laureate, Prof.
Wole Soyinka, called on the President to summon an
emergency economic meeting to recommend specific
solutions to the nation’s prevailing economic challenges to
save the country’s economy from further drift.
The nation’s currency has slumped drastically against the
dollar in recent months due largely to the scarcity of the
foreign currency and the tough regulations of the Central
Bank of Nigeria.
This appeared to have led to spiralling inflation in the
country as most products are produced abroad, putting the
nation’s foreign reserves and currency under intense
pressure.
The price of crude oil in the international market has
continued to fall since November 2014, threatening to
frustrate the provisions of the nation’s N6.07tn 2016 budget.
Soyinka, who made the call when he visited the Minister of
Information and Culture, Alhaji Lai Mohammed, in Abuja
last Thursday, had said experts and consumers should be
invited to the meeting.
“The President should call an emergency economic
conference with experts to be invited – consumers,
producers, labour unions, university experts, professors,
etc. I think we really need an emergency economic
conference, a rescue operation, bringing as many heads as
possible together to plan the way forward,” Soyinka had
said.
But the government source said the idea of the economic
conference, which had tentatively been fixed for March 10
and 11, was first discussed at the 65th National Economic
Council meeting held on January 28.
The council, presided over by Vice President Yemi Osinbajo,
had all the state governors and the Central Bank Nigeria
Governor, Secretary to the Government of the Federation
and some ministers as members.
It has a constitutional role of advising the President on
economic matters.
The source said the NEC members had in their deliberations
called for a major conference, where the current economic
situation of the country could be thoroughly discussed by all
the states and the Federal Government.
He added that in approving the idea, the President himself
would declare the conference open and participate fully in
order to demonstrate his personal commitment to the idea.
He said the views of the private sector and non-state actors
would also be sought at the conference.
The source explained that well-respected global experts
were expected at the conference to aggregate the views of
other governmental, inter-governmental and non-
governmental institutions.
The government official stated, “The NEC retreat, as is being
called by the Federal Government and the states, becomes
imperative amid dwindling oil prices with a direct and
significant impact on the money now available for federal
allocation and sharing between the FG, states and local
government councils.
“For instance, the FG states and local governments shared a
sum of N370.4bn a few days ago for the month of January
2016, which is a drop of more than N17bn from the
N387.8bn shared the previous month of December last year.
“That could be compared for instance with what was shared
in January 2014, which was N629bn and N503.6bn the
previous December, both higher significantly than the
present situation.
“Another concern of the FG and the states necessitating the
economic conference is the drop in foreign reserves of the
country, which is now already below $30bn and compelling
the CBN to adopt tough forex measures, including the ban
on certain items from forex funding and rationing.
“The depreciation of the value of naira has also become an
attendant impact of the foreign exchange scarcity.”
He added that it was the President’s expectation that the
conference would be solution-centered and also create an
opportunity to rally the nation, the FG, states and private
sector together for a clear and mutually beneficial economic
direction.
“It is interesting that a respectable Nigerian (Soyinka)
recently raised the idea of a national economic conference
earlier this month, the same idea that had been decided by
members of NEC at their January meeting. It shows there is
indeed a wide consensus on the idea,” he said.
He explained that although government was not calling the
conference an emergency one, it was clear that both federal
and state governments agreed on the need to discuss
frankly and develop innovative ways to take the country out
of the economic challenges of the day.
The source explained that while the FG was clear on what
direction it intended to drive the country economically,
there was the need to rally the entire nation.
He said there was the need to call on the government and
the people to tighten their belts and prepare for sacrifice.
“The President has already set the tone for frugality in
spending by cutting off routine security votes among other
cost-cutting measures.
“Besides, the idea of a Zero-Based Budgeting and Treasury
Single Account are parts of the attempt by the Federal
Government to tighten public revenues and finance,” he
added.

Source: www.punchng.com/buhari-heeds-soyinkas-advice-convenes-conference/

Just book masef a Presidential suite here.
Chilling!!

At least the man has ears that works and not stubborn as we think. which invariably means he knows he needs help and the help I can render is to advise you to stay away from this four roaches, Tinibu in the west, Ameachi in the south, Atiku in the North and the main roaches which is Rochas in the East.
With them far off, half of Nigeria problem is solved.

e remain to heed Ifeanyichukwu Ubah's advice

So we only have economic problem in Nigeria as of present?I just dey watch una.

dunkem21:
e remain to heed Ifeanyichukwu Ubah's advice

So if dem no advice am, him no for know

I thought he was packaged and sold to us as the know-all, do-all messiah and saviour with a MAGIC wand to change our situation immediately after May 29.
Did Buhari and APCshit just scam us







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Acjohn:
At least the man has ears that works and not stubborn as we think.

Another follow follow follower of our "saviour" does not agree with you oh.

mrvitalis:
One thing I love about Buhari is once he has taken a stand there is no going back

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I have only 4years to use. If you want a better life, support me and pray for me..

You can as well play Politics with your future and the future of your unborn generations.

GOD BLESS NIGERIA

Alpet:
“The President has already set the tone for frugality in spending/

It seems like Buhari's illiteracy is infectious oh.
Otherwise how can someone who has his thinking faculties intact use frugal to describe this WASTEFUL federal administration



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Source: http://saharareporters.com/2013/12/29/2014-fg-maintain-presidential-jets-n152bn-punch



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GMB‬ Speech While Addressing Nigeria Community In The United Kingdom.


I Will Maintain a modest lifestyle as President -Muhammadu Buhari.

“One of the major killers of our economy apart from corruption is waste. Our scarce resources are being plundered away very carelessly and unnecessarily wasted. Let me give an instance, presently, there are more than 6 aircraft in the presidential fleet. What do you call that? Billions of naira is budgeted every year for the maintenance of these aircraft not to talk of operational cost and other expenses.

You may want to ask what a Nigerian President is doing with so many aircraft when a Prime Minister of Britain fly around using the same public aircraft like an ordinary Briton.

Go and check and compare with that of any developed country in the world, the office of the Nigerian President is a very expensive one inspite our high level of poverty, lack and joblessness. Despite all these, you still find a Nigerian Minister spending about N10billion to charter an aircraft for just one year. Now, for me, when we come into office, all these waste will be blocked and properly channelled into our economy. We intend for instance, to bring back our National carrier, the Nigerian airways. [size=14pt]We shall do this by bringing all the aircraft in the presidential fleet into the Nigerian airways[/size] and within a year increase the fleet into about 20.


More from: http://www.osundefender.org/?p=217159

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Ok

What Jonathan could not achieve sef

Keneking:
What Jonathan could not achieve sef

Zombie alert.
Someone needs education here and I can give it for free.



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munas:


https://www.nairaland.com/2072606/new-year-train-ride-portharcourt

Its new year and guys are traveling to spend time and celebrate with family and friends.
A friend of my just sent in these picture about his journey from Port Harcourt To Enugu yesterday
in the new train.

Below are the pictures



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QuotaSystem:


Apart from producing world standard cars that have carried our leaders for decades from the 504 to the 406 and the latest, Peugeot 805 unlike the cut and join vehicles Innoson is welding, PAN Kaduna has started production of the luxury cutting-edge 805 and 301. Another one from the 'backward North'.

Bad belle, it's allowed.



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anonimi:


Zombie alert.
Someone needs education here and I can give it for free.



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Photo-syntheses. Nonsense

He who listens to the words of a learned Soyinka is likely to progress

Experts should be invited, not politicians.

M4gunners:
So we only have economic problem in Nigeria as of present?I just dey watch una.

Can you list the other problems?

DankemzI:


So if dem no advice am, him no for know

If he doesn't heed anyone's advice, you will abuse him. If he heeds advice, you will still abuse.

Acjohn:
At least the man has ears that works and not stubborn as we think. which invariably means he knows he needs help and the help I can render is to advise you to stay away from this four roaches, Tinibu in the west, Ameachi in the south, Atiku in the North and the main roaches which is Rochas in the East.
With them far off, half of Nigeria problem is solved.

This proves that he deceived people like you that he has the solutions to Nigeria numerous problems
Anyway he has done well by listening to wisdom.