duni04:
Price of oil up, production up, now we're having surpluses every month from oil savings because our the budget Is pegged at under USD50/barrel while oil price is more than USD50/barrel. Plenty of construction, FDI and FPI to look forward to. Now [b]we just need to fine tune our forex policy [/b]to accommodate all the foreign investors that will be lining up to get a share of the dollar windfall that's coming.

fine tune or overhaul?
At N520 to a $, you need more than a fine tune to get out of the woods.

this is definitely as Osibanjos idea

Viergeachar:
Osinbajo in action
G
Nice one

Exactly my thought

ABI THEM NO GREE GIVE THEM THE LOANS,....ONE OF THE REASONS WHY THEY DIDN'T GIVE THEM THE LOAN WAS THAT NIGERIA HAS NO CLEAR CUT ECONOMIC PLAN,SECONDLY WAS THAT WE HAD TO STOP PLAYING WITH OUR FOREX. SCAM GOVERNMENT

"

But the latest report is that both the World Bank and the IMF are pilling pressure on Mr Buhari to come up with an economic blueprint, if its drive for foreign loans was not to be stalled.

Vanguard gathered that officials of both financial institutions have questioned the Minister of Finance and her team over the absence of a blueprint for which the loans being sought would be utilised.

Sources at the Presidency said at the last IMF/World Bank Group Annual Meetings, that the Nigeria team was asked to produce an economic blueprint for which the IMF/World Bank Group will offer support.

Specifically, Vanguard learned that the US Secretary of Finance and that of the United Kingdom, told the Nigerian team that without a comprehensive economic blueprint, Nigeria would not get support from IMF and the World Bank.

The source said that usually, the IMF asks countries for what it called Policy Support Instrument (PSI), an instrument which serves as a document through which the multilateral institution monitors the economic progress of the country they support.

The source further said that during the Obasanjo administration, the NEEDS document was the Policy Support Instrument used to negotiate debt relief. The source also said the World Bank Group was interested in such a document as a means of evaluating its recently launched Sustainable Development Goals.

It was also learned that at the various road shows in London, foreign investors had asked Nigerians for an economic blueprint. Such an economic framework, they argued, aside from addressing the current challenges, would go a long way to engender confidence in both local and international investors on the way forward.

The source said this had become very imperative, given that investor-perception of Nigeria’s outlook was critical to its economic recovery.

At the moment, the Federal Government has not been able to come up with such a policy document"

THE DEADLINE FOR A RECESSION RECOVERY BLUEPRINT WAS MARCH 2017...

So those pushing for the borrowing were just doing so for their pockets or .....

obyrich:
Economy recovering after Buhari hands over power temporarily to Osibanjo. Yet Zombies will keep shouting Sai Baba.

Is anyone seriously shouting Sai Baba in 2017?

Even the northerners that I speak with are ashamed of him.

Tazmode:
if you cannot criticize constructively, it would pay you to keep shut.

i think he was constructive enough for those of us who have eyes to see.

onatisi:

And you believe them?
Nawa o

What shall we do about you doubting Thomases and naysayers for chrisssake

osibanjo educative mind in action.I wish buhari can be demoted to Vp when he comes back

AutoReportNG2:
My love for Osibanjo these days is second to none..

Make una no tell me say na Baba tell am what to do oo, after all na Baba wan borrow the money before sef..

God bless Mr. Acting President (GCON)

Ignorance is bliss...my brother!!

Incompetent F00ls we call leaders, always changing their ill-thought policies every second. No wide consultation, no templates for anything rather they always resort to making hasty decision they can't stand to defend. Bastards

joseph1832ng:
Passingshot, how are you today? I now want to believe the FG listens and listen very well.

If need be, let the FG set a committee to look into the allegation Sanusi made about the missing 20 billion dollars.

I want to believe if that sum is re-injected into the economy, it will do a lot of good. Borrowing never helps anyone. Not now, not never.

If at all they set up a committe, the time the report will come out,the time the president will sit down to peruse the report....the time the court cases will begin based on the indictment on the report....aah by that time I go Don born pikin dem and my grandchildren go Don surround my table ni ye oo

OK











Build ur freezer at affordable prices....check my signature for info

no dey want to bed sheets d economy [quote author=origima post=53922697]Do you mean to roof the Economy?

it's better not to borrow from aiyamf and woldubanki. let's borrow sense from heavenly bank.
.

obyrich:
Economy recovering after Buhari hands over power temporarily to Osibanjo. Yet Zombies will keep shouting Sai Baba.

If you are a good student of history you'll know that Pres. Buhari has never liked the IMF. even as military head of state, he refused to borrow from them. So do well to think properly before writing the inept nonsense you wrote above.

Tazmode:
I think this is a sound decision. The interests payable on those IMF loans are nothing to write home about. We should look inward atimes to solve our problems

The interest rates are negligible. It however cones with tough conditionalities hence the controversy.

The IMF is like a strict school master with the job of reforming an unruly student. Nigeria needs one now. The ever collapsing naira is a thing of great worry.

Maybe they want to make use of the money they recovered from that NNPC man.

ehie:
THE DEADLINE FOR A RECESSION RECOVERY BLUEPRINT WAS MARCH 2017...

WOW.

These guys genuinely intend to spam and bluster their way through four years.

No serious plan whatsoever!

It's eye-watering!

After Paris Club?

Na lie! IMF SAID NO!
Nigeria still owes IMF.

Awon OLE!

SO UNA BEEN WAN CHOP FREE MONEY. NA YOU WORK AM KEEP B4? OR U THINK SAY OYINBO NO GET SENSE? WE SHOULD HAVE ENOUGH TO BORROW OTHERS AS WELL LIKE CHINA IS DOING. OUR TRADE EXCHANGE PARAMETERS ARE ALWAYS IN OUR DIPFAVOUR. GOOD WORK TO THE VP

unearthed:




If you are a good student of history you'll know that Pres. Buhari has never liked the IMF. even as military head of state, he refused to borrow from them. So do well to think properly before writing the inept nonsense you wrote above.

Go through the details of the text before quoting me.You helpless Zombie.

mmsen:


Is anyone seriously shouting Sai Baba in 2017?

Even the northerners that I speak with are ashamed of him.

Some helpless Zombies are still parading the cyberspace. I mean irredeemably lost mofos.

KINGwax007:
greatest since. So, the foreign reserve started rising after the VP took over, the increase in oil price and oil production started with the VP?

Dunce!

You are the Dunce here. Lost Zombie.

Viergeachar:
Osinbajo in action

Nice one

This is Buhari's imprimatur right from 1983.
Nigeria needs only three things- zero corruption, hardwork and inventiveness to succeed and beat recession. The last two we probably have more than any other country. The first we are scared of but should embrace whole heartedly.

Why not wish to be the president of USA.

madridguy:
I wish I could help the Nigeria Government with 7.3 trillion naira ($23.17 billion).

This is a nonsensical post. Which is it Adeosun is supposed to be turning away from, the IMF, or the World Bank? Because they are two very different agencies, something the author of this bit of fake "news" clearly wasn't aware of.

I wouldn't be surprised if this economically illiterate administration's applications for loans are rejected by both the IMF and the World Bank, as both organizations will demand reforms that a die-hard statist like Buhari will never willingly agree to. I just don't think that this source is a credible one to be consulting for such news.

As for those who are jubilating and thanking various deities for Nigeria supposedly turning down IMF funding, I suggest you actually learn enough basic economics to know what the IMF would demand and why before accusing it of all sorts of negative intentions. Nigeria is currently undergoing its worst recession of the last 25 years precisely because Buhari rejected sound IMF advice against "saving" the Naira, stubbornly choosing instead to ban various items at random, restrict what ordinary people can do with their funds, and waste hundreds of millions of dollars subsidizing round-tripping by well-connected crooks.

Finally, countries turn to the IMF and the World Bank for loans because both organizations are willing to lend at rates lower than the countries can get from private markets, and there's nothing to rejoice about borrowing $1 billion from the Eurobond market at 8% when the IMF could provide a lot more money at 5% or less.

Viergeachar:
Osinbajo in action

Nice one

Osibanjo in action under [b]PMBs[/b]administration. Let's not allow petty sentiment to cloud our reasoning!