"Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians - Politics (3) - Nairaland
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| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by justy15: 8:23am On Sep 03, 2016 |
is only idiots that will believe the lies spewed by these demagogues n their confused paymaster bubu. when they wined their mouth n promised to better the situation then, didn't they know that the economy is on decline, why the excuse n blame game on their incompetence. the truth is that buharis draconial policy, body language and unguided rhetoric caused us this but zombies will still not believe 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by mkoabiola: 8:23am On Sep 03, 2016 |
Even if u gv ds present gvt 16 yrs they won't perform. Ds is d best dey could do APC has nothing to offer Nigerians 3 Likes |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by frubben(m): 8:24am On Sep 03, 2016 |
sheyguy: Bro we go soon use u exchange bag of rice or semolina no worry continue 3 Likes |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Pavarottii(m): 8:25am On Sep 03, 2016 |
pq007:Who was the economic team leader during the responsible govt u r talking about? 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by tuoyoojo(m): 8:26am On Sep 03, 2016 |
basilo101: bestest analysis so far with love from our president's body odour 3 Likes |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Nobody: 8:28am On Sep 03, 2016 |
talktrue1: You dey mind the s.tupid i.dots. 2 Likes 1 Share |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Nobody: 8:29am On Sep 03, 2016 |
sheyguy:What is the truth then? Cook it and present it lets see how many people will eat it. Reasonable people will eat what ever truth goodluck jonathan has to offer than any truth without figures any body in this administration has to offer. Plain truth. 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Psalmy2cute(m): 8:29am On Sep 03, 2016 |
A Fulani man will Neva rule Nigeria ever again...... The fact z an herdman z only good at leading cattles.... Not ppl. 2 Likes |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by IamThrive(m): 8:30am On Sep 03, 2016 |
How come this people hasn't organized presidential media chat at least economic presidential media chat? They have been meeting every Wednesday's. This will show them that they really don't have any economic solution to get Nigerians out of this hopeless situation. #2019OnMyMind 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by pq007: 8:32am On Sep 03, 2016 |
Pavarottii:stop ur lies pls okonjo iweala didn't pay marketers. it was dis govt dat paid d subsidy Jonathan govt owed. and yes countries borrow for capital projects not paying of salary. okonjo iweala borrowed to pay salary dats a sign of government whose economy was heading for recession.. biggest economy on papers pls was south Africa u where bigger than that time borrowing to pay workers? I HV said it d highest propaganda and deceit lies in PDP supporters not even their leaders |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by p1jiobi: 8:32am On Sep 03, 2016 |
U see the insensitivity of this dullard led government whose only achievement is the rescue of cows 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by ShootToKill: 8:36am On Sep 03, 2016 |
But how could nigerians have expected that anything good could come out of an illiterate dullard moronudeen call mumuhamadu Buhari? Why are people actually suprised that El dullardeen de la Noncertificato cannot actually deliver? 2 Likes |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by franco3075q(m): 8:40am On Sep 03, 2016 |
I swear we nigerians no get mind at all, na so so mouth we know hw 2 make, we all should stop dis noise, gada ourslfs go remove dat idiot mai nama 4 dat sit b4 he kill is all wit hardship 2 Likes |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Carmal90(m): 8:40am On Sep 03, 2016 |
sheyguy: So oil was selling high in March 2015  |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Nobody: 8:40am On Sep 03, 2016 |
[quote author=basilo101 post=49027462]I still find it funny that most people don't know why Nigeria economy went into recession, they love the incompetent lies of Lai Mohammed about the past government ruining everything. It's also myopic to think that if Jonathan were to still be in power, we would be worse off. The truth about Nigeria's recession is this; it was caused by the president's unguided rhetoric and uncultured body language. Firstly, there is nothing we are buying today that we weren't buying 5 years ago, therefore it's not our purchase that put pressure on Naira but withdrawal of funds by foreign investors. After the election, the president created instability with his unguided statements about how everyone is corrupt and how everyone is going to jail. The instability made foreign investors to liquidate their investment and change their money to dollars. In the process of trying to flee, they were willing to buy dollars at any price, which lead to high exchange dollar rate. Even though some of them were not ready to run away, but want their money in dollars to save their investments from devaluation, the president gave a bad signal by banning deposit of foreign currency into dormiciliary accounts. That was enough for free market believers to see the draconian handwriting on the wall, that was the beginning of dollar rush. To make matters worse, the president came up with another outrageous policy of rationing dollar to certain sectors and blocking many sectors out. That was the nail in the coffin which facilitated the emergence of free FALL. In the end, foreign investors took over $80B out of the economy within a short period and everything went down to free fall. To those who believe it will be worse if Jonathan is still there, you are all wrong. Policy continuity and political stability will not let billions of dollars leave our shores within such tiny time frame. Even though the government might have income shortage, the private sector will weather the storm by their confidence in the market. The fear of the unknown created by PMB is responsible for the economic downturn not low oil price. Interest rate in America is currently at 0.5% while it is 12% in Nigeria. JP Morgan Chase will not mind borrowing $50 billion from Feds at 0.5 and put in Nigeria for return of %2000 profit. Citi bank will do the same, likewise US Bank Corp For your information, if your president "kontunu" with his unguided rhetoric, Naira will go down to N1000/1 $. But we thank God, I find much sense in this but it of no use because nigerians got tayad of whr we were in d past dt y we voted out past administration 6yrs of jona n 16 yrs of pdp we culd nt boast of a refinery....anyone wit numba 6 wil knw dis write up wil only navigate us bck to our past,,yu only jus suggestin we jus back into d fryin pan ...GEJ was gud y was he d most insulted president ?(google searched) he was our most educated n clueless president,,nigerian were jus leavin a banker's life b4 now..gud suit.,gud phone,,gud shoes but all naa loan... it time we stomach our hunger n do wat china did,,but a sef dependin economy..our major problem is d crazy demand 4 dollar ova our own currency ..build refineries ,,upscale agriculture n let see if tins wonnt turn around 4 gud ...jp morgan wil only bring average standard of living.. let start using common sense..its time dollar stop dictatin our cost of living. |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Nobody: 8:42am On Sep 03, 2016 |
God help us .this writeup means the government still be lives it's trial and error economics are right.essentially they will not change their policies.god forgive us for the problems we bought for ourselves |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Nobody: 8:42am On Sep 03, 2016 |
pq007: Oga, excuses are for failiures. 16 months after, you are blaming past government? Was it not your president that revived the agricultural policy he suspended? In the last 16 years of pdp, there was no recession , the record speaks for itself. Nigeria will be wiped out of the map, if Apc is given 16 years. The summary of it is that the worst of Pdp is by far better than the best of Apc! Fact! 2 Likes |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Carmal90(m): 8:45am On Sep 03, 2016 |
pq007: Where did PMB got d money he gave state as bailouts 2 Likes 1 Share |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by adegeye38(m): 8:45am On Sep 03, 2016 |
justice2016:What nonsense are you saying?, did you even read the article at all?, what you typed shows how very ignorant you are, Lets forget abt d military era and look at how thing were manged since 1999. Obasanjo cleared our debts and saved about 40 billion$ when he left but he never invested in the economy, we were all so engrossed by the money we were getting 4rm oil, we failed to diversify, we failed to produce and manufacture, we failed to invest in agriculture and infrastructure, no new refineries was built the old ones could not even be repaired, and so we countinued to import petroleum products that accounted for 40% of our forex demand. but due to the fact that we were earning so much from oil , the effect on the naira was minimal, and also the subsidies , the greatest corruption scams of all , marketers and government official became billionaires over night. in 2011 alone we wasted about 16 billion $ on oil subsidies, during Gej's regime d problem persisted and multiplied, corruption was immerse, despite d fact that we were earning so much, no money was saved, our national reserves was depleted,no investment was made on d economy, massive looting was d order of the day. and den during buhari's regime oil prices fell drastically and den it showed d foolishness, the stupidity, the selfishness and the incompetence of the past administrations, and now there is d need to start producing and manufacturing now, and investment in agriculture to diversify our earnings. Buhari has always insisted that he would reduce food importation to the barest minimum, which would increase our agricultural production locally, and so he banned the importation of rice , where we spend billions on importing per year. and so the price had to shoot up, but in d mean time 13 states are already producing rice, why do we have to spend billions of dollars to import wheat, barley? even maize and eggs which shows that our productivity as a country is very low which can not continue like that. The only thing i can blame the BUHARI administration for is that the naira ought have been devalued sooner, and i expected our refineries to be working optimally by now, to reduce our forex needs by 40% in turn reducing pressure on the naira drastically YOU CANT EXPECT A GOVERNMENT TO REPAIR A ROT THAT HAS TAKEN PLACE AND BECOME ROOTED SINCE 1966 IN A SINGLE YEAR. BE THE CHANGE YOU WANNA SEE
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| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Dinobi77: 8:46am On Sep 03, 2016 |
It has become obvious that PMB and co lack the wherewithal in fixing the problems of this nation. For Pete's sake, u came to office promising to fix the problems of Nigeria, but one yr plus all we can get frm u is complain up lamentation of the past administeration. When one points a finger at another, 4 fingers r pointing at one. Ur oga at d top contributed much to the problems we re facing now in his millitary era. So stop d lamentation n fix d problems or trow in d towel. 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Carmal90(m): 8:48am On Sep 03, 2016 |
pq007: Borrow to pay salary Where did PMB got the money he gave states as bailouts?1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by lailo: 8:49am On Sep 03, 2016 |
basilo101:Weldone mr theory on paper alias Okonjo Iweala.Even Ngozi and Jonathan b4 they left warning Nigerians of impending doom and recession.Pls remember dat their government was in bankrupt and had to borrow to pay for the last two months in office workers salaries-Okonjo said so.PDP has been running padded economy,afraid to diversify bcs of the lag effect that can make them lose election.Buhari and APC have only taken d bull by d horn and should be commended for it.The issue of TSA and military probe are other examples of where Buhari is d best for this country.We need decisive,selfless and fearless leader like PMB,not ambition-ridden,selfish and directionless government PDP has been running. |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by signz: 8:53am On Sep 03, 2016 |
luvinhubby: I guess the only TV station he watches is NTA  3 Likes |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Engineer123(m): 8:56am On Sep 03, 2016 |
basilo101: |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by bilazego(m): 8:58am On Sep 03, 2016 |
As Naira nosedives into a tail-spin, performing woefully against other currencies of the world, especially US dollars and British pound, there has been outpouring reactions from well meaning Nigerians who believe proactive steps need to be taken in order to stem the ugly tide. Latest in the fray of reactions is renowned economist and former Nigeria’s minister of Finance, Dr Kalu Idika Kalu. Dr. Kalu, a very reticent elder-statesman holds a doctorate degree in Economic Development and Public Finance (UW–Madison) and is a Yale Stimson Fellow. In a post on his facebook wall, the septuagenarian said when Managing director of the International Monetary Fund (IMF), Ms Christine Lagarde paid a four day visit to Nigeria early in President Buhari’s administration, it was plausible that Nigeria, through negotiations with Fund, could cover up to 80% to 85% of the projected revenue impact from the over 70% decline in the oil price. He stated further in his opinion that with additional resources from such other institutions as the World Bank and the AfDB, as complement to Nigeria’s own resources, the country should have managed to keep the equilibrium between the demand and the supply of foreign exchange in 2016. He believes such initiative will not only have prevented the precipitous drop in the Naira exchange rate, but could even have strengthened the Naira by improving our reserves level as oil prices improved moderately, and as recoveries from looted funds, gains from the single treasury account and other fiscal changes took effect. Here is the full text culled from his facebook wall which was published on Saturday night, August, 7, 2016: ”There was a recent comment in a Nigerian internet forum on the further depreciation of the Naira to 400 to the Dollar and 510 to the Pound and the prospect of even further declines. ”It is rather distressing that we have opted to repeat the mistakes of thirty years ago. When Largarde visited very early in this administration, it was plausible that Nigeria, through negotiations with Fund, could cover up to 80% to 85% of the projected revenue impact from the over 70% decline in the oil price. With additional resources from such other institutions as the World Bank and the ADB, as complement to Nigeria’s own resources, we should have managed to keep the equilibrium between the demand and the supply of foreign exchange in 2016. ”This will not only have prevented the precipitous drop in the Naira exchange rate, but could even have strengthened the Naira by improving our reserves level as oil prices improved moderately, and as recoveries from looted funds, gains from the single treasury account and other fiscal changes took effect. ”By adopting the policies we’ve been following, we have unduly constrained the availability of foreign exchange, put pressure on domestic prices as inflation has increased, and have limited the capacity of the real sectors to produce and create jobs. Further more, the cost of capital , the rate of interest has gone up, limiting both the volume and increasing the cost of credit to all productive sectors!!!! ”What needs to be noted is that as long as these policies are not changed, there is no guaranteeing any finite level of depreciation of the Naira value with respect to any of our trading currencies. We should realise that it is for the purpose of addressing these unexpected deep and sharp decline in export commodity prices that these facilities were set up in the first place. This is the primary substance of the discussion that Largarde expected to have with the new administration. Rather, we were “happy” to observe that she said she did not come to give Nigeria any loan. ”This is the same position we were thirty years ago!!!! As a result, instead of the Naira improving in its relative value from the onset of this administration, we have watched, seemingly helplessly, using trial and error fiscal and monetary policies, mostly draconian and flagrantly against the run of market conditions, resulting in the drop from about 197 to now 400 in the value of the Naira in relation to the Dollar. Even with the continuing uncertainty, it appears that government is not disposed to considering alternative policies. ”The sheer volume of such capital assistance is indicative of the normal use of such funds by many countries both developing and developed. The IMF alone disburses about 25 billion Dollars annually. These funds are designed to bridge the resource gap such as the one the Nigerian economy is currently facing. These funds are invariably very concessionary in their terms e.g. low interest, adequate grace period, and long term repayment. ”As a consequence of such low conditions, such funds are in fact usually rationed among member countries. It is not true that the financial institutions ” push” such loans. The real issue is that they are provided under the condition or the so called conditionalities that the recipient member country will dutifully implement the remedial policies that would correct the domestic imbalances that created the need for such request for assistance in the first place. The need for CHANGE is self evident!!!!!!” http://dailypost.ng/2016/08/07/former-finance-minister-idika-kalu-reacts-incessant-decline-naira-value/ |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by sammhi(m): 9:00am On Sep 03, 2016 |
sheyguy:Please tell me a govt in the world that is debt free ? They left 30bn USd for you and you still complain. If the previous regime was doing fine , why will try be voted out? When you came in people warmed you tat the country is going down but you said it is too early . We should judge after one year . Now , it is over a year , what is the result ? Truth be told , PmB has very poor cabinet and himself is very narrow in thought .Yjings should not get this bad . One fact I can tell you by this time exit year ,federal workers may not be getting paid . Maybe you will know then. What exactly where they expecting ? 100bn usd in account ? 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by blackprowler: 9:05am On Sep 03, 2016 |
As long as the prevailing and accepted wisdom in Nigeria is that government is the one to do directly for the people, instead of facilitating the people to do for themselves, we will never develop (except we discover gold bigger than all space covered by oil; even that will crash the worldwide price of gold) As I've always said, both the government and the people of Nigeria do not know how nations develop. Those of us who may know have been shut out of society and rendered destitute. Have you seen the unrest in Venezuela lately? Their problem is also because they're a nanny state as Nigeria aspires to be. The people will forever be infants! |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Hiploko(m): 9:07am On Sep 03, 2016 |
Like Balloteli like Buhari... WHY ALWAYS ME... As it was in 1984, so it is in 2016. Hardship, suffering, price hike, recession. PDP wrecked Nigeria too in 1984. Shehu abi na wetin be ur name. Gerrarahia mehn! 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Miles300: 9:10am On Sep 03, 2016 |
Come on guys u shouldn't take him serious , he knows the truth , his just doing his job. If u were to be in his shoes will u come nd say ur boss is the cause of the recession ? 1 Like |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by 989900: 9:12am On Sep 03, 2016 |
basilo101: You have some point up there, you do, even though some of the figures are over exaggerated. However, suggesting things would have been better under President Jonathan, is not true. Investors started pulling money out since oil prices slump, they knew we didn't do well in using the oil boom intelligently, they knew we were heading for the crash. HOT STOCKS | Wed Nov 19, 2014 11:45am EST If we had a President and CBN governor who are smarter than both President Buhari and Governor Emefiele, the impending disaster could have been handled better, and as such the effect more gentle. If President Jonathan were still in power, the PDP would have totally obliterated our finances -- they were borrowing to pay salaries at $65/barrel!!! The PDP scavengers will only have continued sharing the money. We will still be stuck with tens of thousands of ghost workers, stuck with Diezani and Dasuki (Godforbidbadtin), Boko Haram/ISIS/ISWAP will probably have taken over Kaduna, Jos, and co., strengthening their arsenal, preparing to take over Abuja, or basically made a caliphate out of the NE . . . coupled with persistently declining oil prices, I don't see how all the listed makes 'portfolio' foreign investors stay. As much as portfolio investors left in droves, we've attracted (MOUs) over $100b in real sector investments; Kachikwu and crew alone, attracted over a $100b investments in July. The direction of the economy is headed towards a more solid foundation (the pace though, is a big shame) as we have all learned hard lessons on depending on oil alone. That said, the Forex situation negates all gains, if a country's currency is valuably unstable, no matter what other gains you make on the fiscal side, it is almost like pouring water into a heavily leaking bucket. |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by Nobody: 9:19am On Sep 03, 2016 |
sheyguy:He kind of makes common sense. |
| Re: "Direct Your Anger To The Right Quaters"- Garba Shehu Tells Nigerians by DMerciful(m): 9:26am On Sep 03, 2016 |
Use ur brain! How can you say the economy was in decline for 16yrs...are u saying IBB and Abacha economy were better before 1999? Yeye dey smell!  DropShot: |
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