The lawmaker representing Bayelsa Central Senatorial District, Senator Ben Murray Bruce, has reasoned that the “hurried implementation” of the Treasury Single Account, TSA, may be one of the reasons the country is in economic recession.

Taking to Twitter on Thursday, the entertainment entrepreneur regretted that everything is politicised in Nigeria, adding that the country’s current interest rate is ridiculous for a country in recession.

His tweets read: “Nobody locks up money in a vault in a recession. In fact, the hurried implementation of TSA may be part of the reason we are in a recession.”

“We must make it easier, not more difficult, for business to obtain credit.”

“Now that we have found ourselves in a recession, we must do the commonsensical thing to do and spend our way out of the recession.”

“We politicize everything in Nigeria. It is our undoing because the economy should bow to politics, politics should not bow to the economy!”

Buhari not sound in economy, foreign affairs —Obasanjo http://punchng.com/buhari-not-sound-economy-foreign-affairs-obasanjo/

obailala:
Why didnt oga Bruce raise this suggestion on the floor of the senate when the TSA was being kickstarted?

blueto:
the implementation of the TSA was being done in phases or gradually by the previous govt.

the reason was that the previous govt understood the fact that the Nigerian banking industry & by extension the economy was primarily driven by government spending & while there were concrete plans to make it more private sector driven, it knew that pulling out government funds from the banks in one fell swoop would negatively impact the economy, might lead to a recession, create instability in most banks, restrict the ability of banks to loan money to investors, threaten existing loans and other negative consequences.

hence the gradual implementation, with banks adjusting gradually to the changing times.

But unfortunately for the Nigerian economy, the certificateless cattle rearer who was devoid of economic knowledge and proficiency was voted in and without even considering the repercussions of the swift implementation of TSA, quickly implemented it in full scale and blamed Jonathan for failing to implemented it in full scale, of which ultimately submerged the economy into recession.

No wonder Obasanjo had to admit that Buhari is not economically sound despite their current fraternization.

blueto:
the implementation of the TSA was being done in phases or gradually by the previous govt.
the reason was that the previous govt understood the fact that the Nigerian banking industry & by extension the economy was primarily driven by government spending & while there were concrete plans to make it more private sector driven, it knew that pulling out government funds from the banks in one fell swoop would negatively impact the economy, might lead to a recession, create instability in most banks, restrict the ability of banks to loan money to investors, threaten existing loans and other negative consequences.
hence the gradual implementation, with banks adjusting gradually to the changing times.
But unfortunately for the Nigerian economy, the certificateless cattle rearer who was devoid of economic knowledge and proficiency was voted in and without even considering the repercussions of the swift implementation of TSA, quickly implemented it in full scale and blamed Jonathan for failing to implement it in full scale, of which ultimately submerged the economy into recession.
No wonder Obasanjo had to admit that Buhari is not economically sound despite their current fraternization.

plaetton:

Hhhmm.


https://www.nairaland.com/3130801/tsa-how-buhari-nuked-nigerian

obailala:
Why didnt oga Bruce raise this suggestion on the floor of the senate when the TSA was being kickstarted?

Badyear:
Yes and also because heartless bastards like you and other legislooters keep receiving billions in the name of salary.

obailala:
Why didnt oga Bruce raise this suggestion on the floor of the senate when the TSA was being kickstarted?

blueto:
the implementation of the TSA was being done in phases or gradually by the previous govt.

the reason was that the previous govt understood the fact that the Nigerian banking industry & by extension the economy was primarily driven by government spending & while there were concrete plans to make it more private sector driven, it knew that pulling out government funds from the banks in one fell swoop would negatively impact the economy, might lead to a recession, create instability in most banks, restrict the ability of banks to loan money to investors, threaten existing loans and other negative consequences.

hence the gradual implementation, with banks adjusting gradually to the changing times.

But unfortunately for the Nigerian economy, the certificateless cattle rearer who was devoid of economic knowledge and proficiency was voted in and without even considering the repercussions of the swift implementation of TSA, quickly implemented it in full scale and blamed Jonathan for failing to implement it in full scale, of which ultimately submerged the economy into recession.

No wonder Obasanjo had to admit that Buhari is not economically sound despite their current fraternization.