Lalasticlala seun mynd44

A true hero is appreciate not at once but with time

Graduately all u said is coming to pass

BUHARI the dullard has bankcruptd the industry called Nigeria.

So...? If he had managed this industry country well like someone who has brain, we wouldn't have been in this present mess. For all of you castigating this administration for our present woes, don't forget that GEJ's finance minister, NOI, has been asking us all the while to brace up for harder times before now. So, .... what are we talking about here? Anyway, that's not to say PMB too has not been faulting.


Ngozi Okonjo-Iweala, former minister of finance, on Thursday said the zero political will to save under former President Goodluck Jonathan is responsible for the challenges the country is facing.

Okonjo-Iweala added that Nigeria was able to save $22 billion under former President Olusegun Obasanjo, which saved the country in 2008, when there was global economic meltdown.

“We saved $22 billion because the political will to do it was there. And when the 2008 /2009 crisis came, we were able to draw on those savings precisely to issue about a 5 percent of GDP fiscal stimulus to the economy and we never had to come to the bank or the fund.

“This time around and this is the key now, you need not only need to have the instrument but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but zero political will.

“So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in. Along with so many other countries”

He was talking about the chief dullard.

Lol.... Now dem dey boycott debate

Well said. As soon as Igbos left the management of the economy, everything went south. What we have today are below average Yoruba and Hausa-Fulani running things in the name of cyronism and nepotism, practically destroying everything that Igbos economic managers built under Obasanjo and GEJ. Even under Abacha...is economic team was nearly all Igbos, did a remarkable work that no administration has been able to match.

Olu20090:
Well said. As soon as Igbos left the management of the economy, everything went south. What we have today are below average Yoruba and Hausa-Fulani running things in the name of cyronism and nepotism, practically destroying everything that Igbos economic managers built under Obasanjo and GEJ. Even under Abacha...is economic team was nearly all Igbos, did a remarkable work that no administration has been able to match.

Who were the so called economic managers?

Obasanjo ran his government by the sheer force of his will.Obasanjo was already doing his thing before he employed anybody.

The brain behind Abacha economic managers who gave him the backbone to withstand the sanctions was Professor Sam Aluko.

adeusolu:
the dullard has bankcrupt the industry Nigeria.

Abi.

He bankrupted the industry Nigeria.

But apc that replaced them is also a senseless government.

juman:

Abi.
He bankrupted the industry Nigeria.
But apc that replaced them is also a senseless government.

BUHARI IS THE ONLY DULLARD IN NIGERIA.

adeusolu:

BUHARI IS THE ONLY DULLARD IN NIGERIA.

People of his generation across the country do not think straight.

The generation of people that added no value to nigeria.

Yes, only people that have brains and great ideas upstairs can manage a country. People like ATM-Dasuki whose ATM can dispense millions and even billions of naira and dollars. No ATM in the world can do that. Bafarawa got 4.3 billion naira for spiritual purpose, FFK the gigolo got 840 million naira for propaganda, Dokpesi the AIT fraudster got 2.1 billion naira for propaganda, our elder Pa Olu Fale got 100 million naira, GEJ's cousin got 40 million dollars for supply of invisible strategic equipment, GEJ P.A. of domestic affairs had 900 million naira in one of his numerous accounts, Lagos street boy Musiliu Obanikoro got 4.7 billion naira with his prodigal sons to rig elections, Jim Nwobodo got 1000 million naira and has remained quite, AVM Alex Badeh got several million of dollars, AVM Olusola Amosu too got several millions of dollars. Traditional rulers across the country got several millions of dollars to support the ineffectual buffoon. At the same time, several millions of unemployed graduates were roaming the streets, they have even started forgetting what the learnt in school. The Several female graduates have turned to run girls sleeping with different politicians across parties and regions while the unemployed male graduates have turned internet fruadsters, drug traffickers and armed robbers.

Who else can dispense money in such a way if not crooks with brains and great ideas. Who else can turn the destiny of a whole country from land of plenty to land of poverty and hunger if not heartless looters in government. Make thunder fire all looters and destiny changers. Amen

oduastates:


Who were the so called economic managers?

Obasanjo ran his government by the sheer force of his will.Obasanjo was already doing his team before he employed anybody.

The brain behind Abacha economic managers who gave him the backbone to withstand the sanctions was Professor Sam Aluko.

Pls enlighten me. Which state is Prof Sam Aluko from

Yeah.. Brains that gave us constant electricity, good roads, diversified economy and less looting.

Brain indeed.

Mr Richidinho....you don't have to be trying to sell a tested and rejected product to us. We know very well the content of your product after more than 4 years of testing.

No amount of your damage control can deceive minds except of course your few gullible online colleagues.

We may consider another product in 2019 but definitely not this product and hopefully not one from your company.

You don't have to be trying to sell a tested and rejected product to us. We know very well the content of your product after more than 4 years of testing.

No amount of your damage control can deceive minds except of course your few gullible online colleagues.

We may consider another product in 2019 but definitely not this product and hopefully not one from your company.

GoodofNaija:
Mr Richidinho....you don't have to be trying to sell a tested and rejected product to us. We know very well the content of your product after more than 4 years of testing.

No amount of your damage control can deceive minds except of course your few gullible online colleagues.

We may consider another product in 2019 but definitely not this product and hopefully not one from your company.

Ooooh! This Olodo again?

mbhs139:
So...? If he had managed this industry country well like someone who has brain, we wouldn't have been in this present mess. For all of you castigating this administration for our present woes, don't forget that GEJ's finance minister, NOI, has been asking us all the while to brace up for harder times before now. So, .... what are we talking about here? Anyway, that's not to say PMB too has not been faulting.


Ngozi Okonjo-Iweala, former minister of finance, on Thursday said the zero political will to save under former President Goodluck Jonathan is responsible for the challenges the country is facing.

Okonjo-Iweala added that Nigeria was able to save $22 billion under former President Olusegun Obasanjo, which saved the country in 2008, when there was global economic meltdown.

“We saved $22 billion because the political will to do it was there. And when the 2008 /2009 crisis came, we were able to draw on those savings precisely to issue about a 5 percent of GDP fiscal stimulus to the economy and we never had to come to the bank or the fund.

“This time around and this is the key now, you need not only need to have the instrument but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but zero political will.

“So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is i Along with so many other countries”

seems a lot of people misconstrued the “political will” in that context, that is why it is good you don't stick to consensus or norms but sticking to what is right.

When she meant zero political will, she was actually referring to political interference by some governors that threatened to litigate against Jonathans administration if he maintains his decision on saving. the governors insisted that there is no place in the law that stated that Federal govt should keep the reserve.
They always insisted that a part of it (excess crude revenue account) should be brought.

Jonathan even made it a “sovereign wealth fund”, so that it would not be easy for one to take from there.

But APC have been able to deliberately misinterpret that statement by okonjo iweala to Nigerians via their APC media propaganda conduits.

What Mess did GEJ leave Nigeria in

APC only tells u there is a mess whereas there is no mess. They feed your brain with lies and u foolishly believe them.

The economy was stronger and better under GEJ.
Our currency was not this worth less
Food was cheap and the poor could eat.
Foreign investors flooded Nigeria and many Jobs were created
There was freedom of information and freedom of speech.
There was rule of law and court order was obeyed.
Agriculture flourished.
Automobile industry resurrected
Railway was reborn
Insecurity was only in the North east...
Small business were encouraged and big businesses like dangote expanded
PH and calabar sea port were upgraded and opened.
Airports Nation wide were upgraded and re equiped
New airlines were licensed to operate local and international flights.
There was diversification and our Exports grew...
No one starved to death in idp camps..Jonathan fed them all very well.

Nigerians were happier under GEJ and life expectancy was longer,

GEJ's only crime is dat arms fund was used to fund Elections and some of his trusted friends loothed under his nose.....

Despite he inhirited only $3b He saved $30b and handed over to buhari.

So what mess did he put Nigeria in?

APC and Buhari put us in today's mess not GEJ

mbhs139:
So...? If he had managed this industry country well like someone who has brain, we wouldn't have been in this present mess. For all of you castigating this administration for our present woes, don't forget that GEJ's finance minister, NOI, has been asking us all the while to brace up for harder times before now. So, .... what are we talking about here? Anyway, that's not to say PMB too has not been faulting.


Ngozi Okonjo-Iweala, former minister of finance, on Thursday said the zero political will to save under former President Goodluck Jonathan is responsible for the challenges the country is facing.

Okonjo-Iweala added that Nigeria was able to save $22 billion under former President Olusegun Obasanjo, which saved the country in 2008, when there was global economic meltdown.

“We saved $22 billion because the political will to do it was there. And when the 2008 /2009 crisis came, we were able to draw on those savings precisely to issue about a 5 percent of GDP fiscal stimulus to the economy and we never had to come to the bank or the fund.

“This time around and this is the key now, you need not only need to have the instrument but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but zero political will.

“So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in. Along with so many other countries”

adeusolu:
the dullard has bankcrupt the industry Nigeria.

The only dullard nigerians know is your hero bubu

Olu20090:
Well said. As soon as Igbos left the management of the economy, everything went south. What we have today are below average Yoruba and Hausa-Fulani running things in the name of cyronism and nepotism, practically destroying everything that Igbos economic managers built under Obasanjo and GEJ. Even under Abacha...is economic team was nearly all Igbos, did a remarkable work that no administration has been able to match.

I'm happy the Igbos finally admit they have also been part of the leadership that ruined Nigeria from the '80s when we had an Igbo vice-president till now.

So Mr Igbos do it best, was Nigeria of 2015 better than Nigeria of 1979 when we had working refineries, better electricity supply, better train services, better currency and better health care and education?

As at 1979, Naira was greater than the Dollars.
After Igbo economic magic that you so proudly proclaim, as at 2015, Naira was N240 to $1.
Still under an Igbo CBN governor, Naira now N400 to $1.
Thanks to the great Igbos who have been managing our economy.

Only the Igbos get everything on merit in Nigeria, any other Nigerian must have got government appointments by quota, right?
Your greed for power is no different from the Hausa-Fulani that you love to hate. You both are 2 sides of the same coin.

What more do we expect when the dullard has said it all that old age would limit him.

http://saharareporters.com/2015/06/17/old-age-will-limit-my-performance-%E2%80%93buhari

oduastates:


Who were the so called economic managers?

Obasanjo ran his government by the sheer force of his will.Obasanjo was already doing his team before he employed anybody.

The brain behind Abacha economic managers who gave him the backbone to withstand the sanctions was Professor Sam Aluko.

Are you minding the IPOB vandals? Stop wasting your time

GEJ u are the cause of the problems Nigeria is facing today.

He who is supposed to be cooling off in maximum prison in a saner society taking trash. No Nigerian president is as poor as Mr Gej. He is the course of what Nigerians are experiencing today. God will certainly nab him at the fullest of time and pay for his crimes against humanity.

UnclePati:
What Mess did GEJ leave Nigeria in

APC only tells u there is a mess whereas there is no mess. They feed your brain with lies and u foolishly believe them.

The economy was stronger and better under GEJ.
Our currency was not this worth less
Food was cheap and the poor could eat.
Foreign investors flooded Nigeria and many Jobs were created
There was freedom of information and freedom of speech.
There was rule of law and court order was obeyed.
Agriculture flourished.
Automobile industry resurrected
Railway was reborn
Insecurity was only in the North east...
Small business were encouraged and big businesses like dangote expanded
PH and calabar sea port were upgraded and opened.
Airports Nation wide were upgraded and re equiped
New airlines were licensed to operate local and international flights.
There was diversification and our Exports grew...
No one starved to death in idp camps..Jonathan fed them all very well.

Nigerians were happier under GEJ and life expectancy was longer,

GEJ's only crime is dat arms fund was used to fund Elections and some of his trusted friends loothed under his nose.....

Despite he inhirited only $3b He saved $30b and handed over to buhari.

So what mess did he put Nigeria in?

APC and Buhari put us in today's mess not GEJ

Your economy is was stronger yet but by April 2015, Jonathan and Okonjo were already borrowing to pay salary of workers according to Iweala herself.

UnclePati:
What Mess did GEJ leave Nigeria in

APC only tells u there is a mess whereas there is no mess. They feed your brain with lies and u foolishly believe them.

The economy was stronger and better under GEJ.
Our currency was not this worth less
Food was cheap and the poor could eat.
Foreign investors flooded Nigeria and many Jobs were created
There was freedom of information and freedom of speech.
There was rule of law and court order was obeyed.
Agriculture flourished.
Automobile industry resurrected
Railway was reborn
Insecurity was only in the North east...
Small business were encouraged and big businesses like dangote expanded
PH and calabar sea port were upgraded and opened.
Airports Nation wide were upgraded and re equiped
New airlines were licensed to operate local and international flights.
There was diversification and our Exports grew...
No one starved to death in idp camps..Jonathan fed them all very well.

Nigerians were happier under GEJ and life expectancy was longer,

GEJ's only crime is dat arms fund was used to fund Elections and some of his trusted friends loothed under his nose.....

Despite he inhirited only $3b He saved $30b and handed over to buhari.

So what mess did he put Nigeria in?

APC and Buhari put us in today's mess not GEJ

Listen to this empty headed Ibo villager! So Buhari came into government and set about causing all these problems?

Nigeria has very little dollar available in its reserves, oil price is down, we don't produce ANYTHING to export, we do not even produce enough food for our population, we only have sex and produce millions of children we cannot even feed.

Please use your head when criticising government. You are likely to be Ibo. Your country has gone BURST!

OjukwuWarBird:


Pls enlighten me. Which state is Prof Sam Aluko from

Ekiti

Prof Sam Aluko

Failure to Plan for Economic Growth and Peace

It is often said, and wisely too, that, "no one plans to fail, but many fail to plan." This is exactly what is happening in most countries in Africa today. Let me use Nigeria as a veritable example.

When the British Empire was in control of the politics and the economy of Nigeria, it encouraged and instituted "Development Plans" for the economy. The first was the Ten-Year Development and Welfare Plan, 1946-55; followed by 1955-60-62. When Nigeria became independent in 1960, it still continued with the 1962-68, 1970-75, 1975-80, and 1980-85 Development Plans, but with diminishing commitments to planning. The Colonial Plans were mainly designed to ensure a more coordinated harnessing of the vast Nigerian natural resources for British interests, manufactures, and commerce. Marketing Boards were established for cocoa, rubber, palm produce, cotton, and groundnuts, among others, and Government Corporations were established for the vast mineral resources of Nigeria, for energy, and, later for petroleum oil.

But as the hold of the West became less and less on the Nigerian resources, the economists and the political powerbrokers of the West began to adumbrate consistently and with manipulated statistics, that the Marketing Boards were exploitative of the local farmers; that the corporations were a restraint on trade and efficiency; that the public-sector management of the economy was corrupt and undesirable; and that the government "had no business in business" but should deregulate and privatize the boards and the corporations.

In 1986, the IMF/World Bank succeeded in convincing the then Nigerian military government into adopting their Structural Adjustment Program. The Marketing Boards were disbanded; public enterprises were deregulated; government intervention in the economy became discredited; monetary and fiscal policies of government were relaxed, and the free traders took over the reins of government. The result was that cocoa production in Nigeria fell from about 400,000 tons a year in 1986 to 150,000 tons in 2000, and the production of cotton, groundnuts, hides and skin, rubber, and palm produce decreased to between 25% and 35% of the 1986 level. Coal production fell from 360,000 tons in 1980 to 19,000 tons in 2000. Per capita income of Nigerians fell from $760 per annum in 1985 to $360 in 2000. Food imports replaced food exports. The value of the naira, Nigeria's currency, fell from N1=$1 in 1985, to N115=$1 today, at the Central Bank exchange rate (Table 1).[FIGURE 11] Black marketing in the nation's currency began and grew since 1985, to become N140=$1 today.

The IMF/WorldBank and their Western sponsors have now stated, with the approval of Nigeria's Central Bank, that the naira is even overvalued at the existing rate of exchange. The IMF has pencilled the naira at N550=$1 as its real market rate of exchange. Ghana, whose cedi was of the same value as the naira in 1980, now has the exchange rate of the cedi at 6,750 cedi=$1. Ditto in almost all the countries of Africa.

The foreign debt overhang in Nigeria increased from zero in 1960, to $1 billion in 1979, $11.5 billion in 1986, $33.2 billion in 1990, and $35 billion in 2000—about $18 billion of which was the current accumulated interest. In actual fact, Nigeria borrowed about $17.5 billion between 1979 and today, repaid about $33 billion during the period, and is still owing $35 billion. Nigeria's debt is, today, estimated at about 82% of its Gross Domestic Product.

The IMF/World Bank, the Paris Club, and the London Club of Creditors (the Paris Club is the same creditor countries when they act as governments, as the London Club countries when they act as bank lenders), have involved Nigeria, like other African debtor countries, in debt-rescheduling, debt conversion, debt-buyback and deferred payments; all of which had exacerbated the debt burden, rather than debt relief or debt cancellation which the Nigerian governments hoped would be granted, if they continued to follow the prescriptions and the economic dictates of the creditors. As Nigeria became poorer and poorer, its leaders became more and more criminalized; lost more and more confidence in themselves and in the economy; and increased the keeping of their wealth, much of which was stolen or taken from the economy, in the banks, or invested it in the economies of the West, with the active encouragement or connivance of the West.

Nigeria is now being propelled to democratize as a way to economic recovery. But with every passing day since the military was replaced with a "democratic" regime in May 1999, the life and living conditions of the average Nigerian continue to deteriorate, with the hope of an economic recovery becoming more and more distant. But our government continues to follow the dictates of the West, with privatization, deregulation, liberalization, minimization of government involvement in the economy; retrenchment in public-sector employment; belief in a private-sector-led economy, even though the production sector itself is depressed, functioning at about 30% of its executive capacity, today, compared with 75-80% in 1985. The rate of interest has risen to 50% per annum, when the rate of return is less than 1.015%, if the products are sold at all, since the purchasing power of consumers has considerably reduced. The result is that Nigeria is now flooded with second-hand goods, low-quality or fake products, dumped and heavily subsidized foreign goods, from toothpicks to the most sophisticated equipment from the West and Asia. These further depress the few surviving industries in Nigeria and send them out of production. In 1999 alone, over 4,000 small and medium enterprises folded up in Nigeria.

The catalogue of economic woes can be multiplied ad infinitum in Nigeria. Yet, Nigeria is still regarded in Africa as one of the few resilient economies that are surviving the onslaught from the West.

oduastates:


Ekiti

What does Aluko mean in English.

Translate from Yoruba to English

GoodofNaija:
You don't have to be trying to sell a tested and rejected product to us. We know very well the content of your product after more than 4 years of testing.

No amount of your damage control can deceive minds except of course your few gullible online colleagues.

We may consider another product in 2019 but definitely not this product and hopefully not one from your company.

Fantastic!