@Agba1
Stop feeding people with lies, Remi Tinubu didn't score 500k votes in her election, she scored around 200k with her closest rival scoring 75k. the ONLY area in Lagos that you can score close to 500k is nothing but Alimosho LGA.

Get your facts right!

EPOMA:

@ Seun.

For Buhari, I know that he paid up  Nigerian debt in 1 year, made sure that all the essential commodities in the warehouses were brought out and sold to the public. Brought discipline and work ethics to government ministries, fought corruption by trying to bring back Umaru dikko, I can continue.

jmaine link=topic=641981.msg8103047#msg8103047 date=1302539586:

So if Buhari is voted in  . .it is expedient for him to raid the computer village and force the struggling traders to sell their computers, softwares, printers, G.S.M phones e.t.c way below their cost price as a way of increasing the buying capacity of the masses and increasing economic boom . .

Oga clap for yourself, you try no be small  

[size=16pt]TAAAA ! Buhari for which president [/size]

@ jmaine how does computer village in your comment translate to warehouse in @EPOMA's post? When are we going to grow up, my GOD!

Quote from: Seun on Today at 05:26:50 PM
What we know about Buhari suggests that he's a repressive dictator who hates human rights, the press and knows little about the economy beyond imposing hardship on people. His supporters claim he has changed, but we don't know anything about this "new Buhari" they are promoting.

Please feel free to educate us about GEJ, using facts that can be verified, etc, and we'll be listening.

For someone asking for facts, it's appalling that you resorted to rumors to buttress you lack of knowledge about Buhari. Buhari has not changed, and I find it hard to figure out what you are referring to as a new Buhari. Buhari remains the very same man he was when he birthed 3 out of the 4 Nigerian refineries, which unfortunately the PDP government has ran down in the last 12 years. Buhari is the same man who was a Governor, NNPC chairman, Head of state, and PTF Chairman all political offices he held with distinction. The only noticeable changes in Buhari are the fact that he's grown older and wiser and obviously he is no longer in a military uniform.

I'll take GEJ's records one at a time in my next posts.

He was interviewed by D'banj and also carry's Turai's hand bag

EPOMA:

@ Seun.

Can't believe you said this Seun. With all your experience on Nairaland forum.Maybe you were not born when Buhari ruled, for you  not to know much about this man or probably you are like most Nigerians who pushes history aside so soon.

For Buhari, I know that he paid up  Nigerian debt in 1 year, made sure that all the essential commodities in the warehouses were brought out and sold to the public. Brought discipline and work ethics to government ministries, fought corruption by trying to bring back Umaru dikko, I can continue.

For Goodluck, stole money through the wife, Try to get Ibori freed in the UK and Dubai. Obasanjo Houseboy, had to report to Oga on election day at Ota farm. Allows his PDP governors to (Godswill Akpabio )behave as they like. He does not have a mind of his own.

I will not say much. I dont want my country to continue having the worst first lady ever as we do now. Buhari has said that he will scrap the office of the first lady, lots of good stuff coming from Buhari

You can continue because you have said nothing.
Please give me an evidence that he paid up Nigeria's debt in one year. It is only in nairaland that you will hear this.


Nigeria was suffering so much due to oil price depression and export was almost nonexistent due to Buhari's draconian and unfriendly foreign policies where did he get the money to pay off the debt?
He took foreign loans about 8 of them.

This devastating impact of the debt burden manifested in negative/marginal growth of
GDP, large scale unemployment, capacity under-utilisation, drastic reduction in consumption
and capital formation, growing interest payments on foreign debt, and a general fall in the living
standards. For instance, real GDP growth averaged -5.7 per cent between 1981 and 1985, it
averaged 2.2 per cent between 1991 and 1997 and moved to 3.3 per cent between 1998 and
2002(CBN, 2004). Fiscal deficit to GDP ratio increased from 4 per cent in 1985 through 10 per
cent in 1989 to 15.3 per cent in 1993 and fell to 5.1 in 2002. Inflation rose to over 50 per cent in
1993 and moved to 73 per cent in 1995 but fell to 12.9 per cent in 2002. The investment/GDP
ratio dropped from 26 per cent in 1981 through 16 per cent in 1985, to 5.2 per cent in 1996 and
was 7 per cent in 2002. The inherent weakness in the structure of the economy is reflected in the
over-dependence on imports for its productive base in the face of declining foreign exchange
earnings and volatile terms of trade. This is how macroeconomic indicators present a problem of
debt servicing like the declining growth rate, rising and persistently high imports and debt ratios
and the costs of policies that may have to be undertaken to generate foreign exchange for debt
servicing.

For instance, external debt during the early 1980s increased Nigeriaís
official debt from US$4.1 billion at end of 1980 to US$24.6 billion by the end of 1986

http://www.csae.ox.ac.uk/conferences/2007-EDiA-LaWBiDC/papers/431-Adam.pdf

You may help yourself with the information in the whole article and stop spreading flasehood

- The total foreign debt when IBB took office was US$19.0B
- The annual debt service fund at the time was US$4.0B
- The debt service fund was 33% of total export earnings (Just Imagine the consequence of allowing 33% of total revenue going into debt servicing alone)
- The total debt stock as a percentage of foreign exchange earnings was 154%
- The total debt stock as a percentage of GDP was 24%
- As recent as this year the DMO has confirmed that the country is still paying debts owed since independence
- The economy was virtually dead as creditors refused granting of import credit lines to the country due to very low foreign currency availability (The legendary Fela Anikulapo-Kuti was jailed by the previous regime on accusation of currency trafficking. the question here is, why was there foreign currency restriction before the emergence of IBB? The answer is obvious: There was no foreign currency in the system!!!)

http://www.saharareporters.com/report/ibb-never-again-campaign-call-prosecute-and-ban-general-ibrahim-badamosi-babangida-holding-pu?page=1

Iam convinced an exit poll will reveal extent of rigging.

Evil Brain:

And which good PDP candidates are you talking about? I hope you don't mean GEJ, the former loyal deputy to Alamco. GEJ the former vice president who couldn't assert himself even when his oga was on life-support. GEJ, the rubbish president who has nearly bankrupted the country running his campaign and patronising his corrupt PDP friends. Jonathan who bribes and settles bombers while ignoring the suffering of his Niger Delta people. Goodluck who parties with criminals, GEJ the friend of IBB, Anineh and Obasanjo.

No amount of lies can panelbeat his record. Nigeria deserves a better president. Either Ribadu or Buhari, any one will do. But PDP must go. 

Here is Ademumu protecting the interest of Alams over the interest of Bayelsa people.

http://www.utexas.edu/conferences/africa/ads/1216.html

How Jonathan resisted take-over: Sunday Vanguard was told at Yenagoa that Bayelsa’’s share of the last allocation to state governments was withheld because of the arrest of the governor. The action was almost degenerating to another crisis in the state as civil servants were not paid and the deputy dovernor was told categorically that the allocation would not be released except it was clear who the acting governor of the state was in the absence of the governor. The import of the action was very clear to Jonathan but he felt it would be a stab on his boss if he grabbed the opportunity.
It was gathered that those involved assured the deputy governor that they would handle the situation properly and that it would not be seen as if he torpedoed his boss because he was not the architect of Alamieyeseigha’s misfortune. Jonathan, however, read between the lines and squealed to Alamieyeseigha who is holed up in London on phone. A game plan was hatched to overcome the mountain.

This is a report of Retardeed welcoming and supporting Alams.

http://nm.onlinenigeria.com/templates/?a=6120

The governor was flanked by his Deputy, Goodluck Jonathan, the impeached Deputy Speaker of the Bayelsa House of Assembly Foingha Jephthah, the Commissioner for Women Affairs Remi Kuku, his Special Adviser on Youths, Logistic, Government House Transport, Abel Ebifemowei and the Commissioner for Information, Oronto Douglas.

Here is a news report of how the dumb Silverback Gorilla was ordered by OBJ to start impeachment motions of Alams.

http://nigeriavillagesquare.com/forum/archive/index.php/t-2401.html

P.M.News gathered further that today's action by the lawmakers was not unconnected with a meeting held two weeks ago between President Olusegun Obasanjo and the deputy governor, Jonathan Goodluck. A national newspaper had reported that President Obasanjo ordered Goodluck to carry out the impeachment of his boss.

The man has no problem with corruption as long as he can stay in power he will never act decisively and according to his conscience. And people have to instruct him before he acts.

People want to compare this foooool to Ribadu or Buhari?

Sagamite:


I have to say this journalist is quite good.

Lovely flow to his write-up. Good structure to overall report (including table).

Yeah, the table makes a lot of sense for the matured minds.

Young people and the Nigeria we see

Sagamite:

Sweetie, get a good safety buffer. You will need it.

Say 4 years, not 2. 

My lawyer wil get in touch with you. I want a divorce. I HATE YOU!!!

^^^

Nice initiative, mind you winning an election is not about good Speeches and debating alone, the illiterates in the suburb and rural areas dont know that but they are the largest voters.!

EPOMA:

@ Seun.

Can't believe you said this Seun. With all your experience on Nairaland forum.Maybe you were not born when Buhari ruled, for you  not to know much about this man or probably you are like most Nigerians who pushes history aside so soon.

For Buhari, I know that he paid up  Nigerian debt in 1 year, made sure that all the essential commodities in the warehouses were brought out and sold to the public. Brought discipline and work ethics to government ministries, fought corruption by trying to bring back Umaru dikko, I can continue. 

For Goodluck, stole money through the wife, Try to get Ibori freed in the UK and Dubai. Obasanjo Houseboy, had to report to Oga on election day at Ota farm. Allows his PDP governors to (Godswill Akpabio )behave as they like. He does not have a mind of his own.

I will not say much. I dont want my country to continue having the worst first lady ever as we do now. Buhari has said that he will scrap the office of the first lady, lots of good stuff coming from Buhari

My good friend, history did not record it the way you are playing it out for us. Thank God there is a website called Youtube.

Watch it yourself:

[flash=425,344]
https://www.youtube.com/watch?v=IBSWhA6z-54?fs=1&hl=en_US&rel=0"[/flash]

The video was recorded way back in time. Notice the journalist's comments on the economy and human rights violation.

we are not illiterate

- politics

Hi There,


A Shout out for all Ribadu/Adeola Enthusiasts, We present to you an opportunity to "OWN This Campaign" for the Freshest Presidential Candidate Team in this elections.We invite you to the Time is Now Movement on www.thetimeisnownigeria.com where you will be abale to send messages for FREE to Friend and family, here the coolest Audio Jingles right from the internet and spread the good news downloading the www.thetimeisnownigeria.com/bb app,


Let us know what you think,

Regards,

More for you EPOMA and those who do not know

Complex import control exacerbated the difficulties

whatever that guy in the video is saying must be TRUE.


  he is white

Another

More for your info

Unemployement was on the increase till 1985.

And more

There was a sizable depletion of external reserve from 6months import in 1980 to just two months in 1985. Let somebody come and tell me how he did not touch external reserve and how GEJ depleted.
Buhari contributed in the depletion. Read people read

and . . .he did not not understand problem he was facing as he does not understand now. He was clueless as he is now.

Moser et al

You can read more.

Nobdoy should come here to tell us how he paid off debt in a year.

Everything got worse when he took over.

What is you point?

Buhari ruled for the 1.5 year 1984 - 1985.

He never rulled in 1980 or 81

stop trying to mislead people

Buhari paid off our debt in 1.5 years

Nigerians need to make the right choice

agabaI23:

Nigeria was suffering so much due to oil price depression and export was almost nonexistent due to Buhari's draconian and unfriendly foreign policies where did he get the money to pay off the debt?
He took foreign loans about 8 of them.

http://www.csae.ox.ac.uk/conferences/2007-EDiA-LaWBiDC/papers/431-Adam.pdf

You may help yourself with the information in the whole article and stop spreading flasehood

- The total foreign debt when IBB took office was US$19.0B
- The annual debt service fund at the time was US$4.0B
- The debt service fund was 33% of total export earnings (Just Imagine the consequence of allowing 33% of total revenue going into debt servicing alone)
- The total debt stock as a percentage of foreign exchange earnings was 154%
- The total debt stock as a percentage of GDP was 24%
- As recent as this year the DMO has confirmed that the country is still paying debts owed since independence
- The economy was virtually dead as creditors refused granting of import credit lines to the country due to very low foreign currency availability (The legendary Fela Anikulapo-Kuti was jailed by the previous regime on accusation of currency trafficking. the question here is, why was there foreign currency restriction before the emergence of IBB? The answer is obvious: There was no foreign currency in the system!!!)

http://www.saharareporters.com/report/ibb-never-again-campaign-call-prosecute-and-ban-general-ibrahim-badamosi-babangida-holding-pu?page=1

In your confused response you have come up again with stories that are completely self-contradictory. How come DMO is claims 9ja is still paying debt we owe since independence when OBJ's PDP made us believe our debts were paid off? Na which kind logic you dey try preach? I suppose you are trying lamely to cover up for GEJ's lapses since we are now back into debts approaching $5 billion even when the price of oil has consistently been on the rise since GEJ took over more than a year ago.

Interestingly while oil price is steadily rising (meaning Nigeria has been making more revenue from oil than projected), GEJ is running the country into more debts and we still don't have anything tangible to show for it. The first quarter economic report shows that the so called readily available fuel is being funded with debts mounting for the nation. How can any serious leader use debt to score cheap political point simply because the masses are too ignorant to realize his deception?

I've warned you on several thread to stop peddling half truths about 9ja economy which you almost certainly have little or no clue about.

Stop peddling lies!

the most enjoyable argument usually invovle those who have no clue what they are talking about. just study a bunch of 7 year olds

the most enjoyable argument usually involve those who have no clue what they are talking about. just study a bunch of 7 year olds

GEJ will win come saturday, its so clear as glass.

agabaI23:

Moser et al

You can read more.

Nobdoy should come here to tell us how he paid off debt in a year.

Everything got worse when he took over.

And here's a rebutal to your false claims by the current CBN governor who's reputation every sane Nigerian can vouch for and not the faceless myopic authors you have deceptively been quoting.

Why I will vote for Buhari (I) - Lamido Sanusi

By Sanusi Lamido Sanusi

If Buhari gets a nomination he will have my vote. I will vote for him not, like some have averred, because he is a northerner and a Muslim or because I think his candidacy is good for the north and Islam; I will vote for him not because I think he will make a good democrat or that he was not a dictator. I will vote for Buhari as a Nigerian for a leader who restored my pride and dignity and my belief in the motherland. I will vote for the man who made it undesirable for the "Andrews" to "check out" instead of staying to change Nigeria. – Sanusi Lamido Sanusi (2002)

BUHARISM: Economic Theory and Political Economy By Sanusi Lamido Sanusi [LAGOS] July 22,2002

I have followed with more than a little interest the many contributions of commentators on the surprising decision of General Muhammadu Buhari to jump into the murky waters of Nigerian politics. Most of the regular writers in the Trust stable have had something to say on this. The political adviser to a late general has transferred his services to a living one. My dear friend and prolific veterinary doctor, who like me is allegedly an ideologue of Fulani supremacy, has taken a leading emir to the cleaners based on information of suspect authenticity. Another friend has contributed an articulate piece, which for those in the know gives a bird’s eye view into the thinking within the IBB camp. A young northern Turk has made several interventions and given novel expressions to what I call the PTF connection. Some readers and writers alike have done Buhari incalculable damage by viewing his politics through the narrow prism of ethnicity and religion, risking the alienation of whole sections of the Nigerian polity without whose votes their candidate cannot succeed.

With one or two notable exceptions, the various positions for or against Buhari have focused on his personality and continued to reveal a certain aversion or disdain for deeper and more thorough analysis of his regime. The reality, as noted by Tolstoy, is that too often history is erroneously reduced to single individuals. By losing sight of the multiplicity of individuals, events, actions and inactions (deliberate or otherwise) that combine to produce a set of historical circumstances, the historian is able to create a mythical figure and turn him into an everlasting hero (like Lincoln) or a villain (like Hitler). The same is true of Buhari. There seems to be a dangerous trend of competition between two opposing camps aimed at glorifying him beyond his wildest dreams or demonizing him beyond all justifiable limits, through a selective reading of history and opportunistic attribution and misattribution of responsibility.

The discourse has been thus impoverished through personalization and we are no closer at the end of it than at the beginning to a divination of the exact locus or nexus of his administration in the flow of Nigerian history. This is what I seek to achieve in this intervention through an exposition of the theoretical underpinnings of the economic policy of Buharism and the necessary correlation between the economic decisions made and the concomitant legal and political superstructure.

Taxonomy

Let me begin by stating up front the principal thesis that I will propound. Within the schema of discourses on Nigerian history, the most accurate problematization of the Buhari government is one that views it strictly as a regime founded on the ideology of Bourgeois Nationalism. In this sense it was a true off-shoot of the regime of Murtala Mohammed. Buharism was a stage the logical outcome of whose machinations would have been a transcendence of what Marx called the stage of Primitive Accumulation in his Theories of Surplus Value. It was radical, not in the sense of being socialist or left wing, but in the sense of being a progressive move away from a political economy dominated by a parasitic and subservient elite to one in which a nationalist and productive class gains ascendancy. Buharism represented a two-way struggle: with Global capitalism (externally) and with its parasitic and unpatriotic agents and spokespersons (internally).

The struggle against global capital as represented by the unholy trinity of the IMF, the World Bank and multilateral "trade" organizations as well that against the entrenched domestic class of contractors, commission agents and corrupt public officers were vicious and thus required extreme measures. Draconian policies were a necessary component of this struggle for transformation and this has been the case with all such epochs in history. The Meiji restoration in Japan was not conducted in a liberal environment. The Industrial Revolution in Europe and the great economic progress of the empires were not attained in the same liberal atmosphere of the 21st Century. The "tiger economies" of Asia such as Taiwan, South Korea, Indonesia and Thailand are not exactly models of democratic freedom. To this extent Buharism was a despotic regime but its despotism was historically determined, necessitated by the historical task of dismantling the structures of dependency and launching the nation on to a path beyond primitive accumulation. At his best Buhari may have been a Bonaparte or a Bismarck. At his worst he may have been a Hitler or a Mussolini. In either case Buharism drawn to its logical conclusion would have provided the bedrock for a new society and its overthrow marked a relapse, a step backward into that era from which we sought escape and in which, sadly for all of us we remain embedded and enslaved. I will now proceed with an elaboration of Buharism as a manifestation of bourgeois economics and political economy.

The Economic Theory of Buharism

One of the greatest myths spun around Buharism was that it lacked a sound basis in economic theory. As evidence of this, the regime that succeeded Buhari employed the services of economic "gurus" of "international standard" as the architects of fiscal and monetary policy. These were IMF and World Bank economists like Dr. Chu Okongwu and Dr Kalu Idika Kalu, as well as Mr SAP himself, Chief Olu Falae (an economist trained at Yale). At the time Buhari’s Finance Minister, Dr Onaolapo Soleye (who was not a trained economist) was debating with the pro-IMF lobby and explaining why the naira would not be devalued I was teaching economics at the Ahmadu Bello University. I had no doubt in my mind that the position of Buharism was based on a sound understanding of neo-classical economics and that those who were pushing for devaluation either did not understand their subject or were acting deliberately as agents of international capital in its rampage against all barriers set up by sovereign states to protect the integrity of the domestic economy. I still believe some of the key economic policy experts of the IBB administration were economic saboteurs who should be tried for treason.

When the IMF recently owned up to "mistakes" in its policy prescriptions all patriotic economists saw it for what it was: A hypocritical statement of remorse after attaining set objectives. Let me explain, briefly, the economic theory underlying Buhari’s refusal to devalue the naira and then show how the policy merely served the interest of global capitalism and its domestic agents. This will be the principal building block of our taxonomy.

In brief, neo-classical theory holds that a country can, under certain conditions, expect to improve its Balance of Payments through devaluation of its currency. The IMF believed that given the pressure on the country’s foreign reserves and its adverse balance of payments situation Nigeria must devalue its currency. Buharism held otherwise and insisted that the conditions for improving Balance of Payments through devaluation did not exist and that there were alternate and superior approaches to the problem. Let me explain.

The first condition that must exist is that the price of every country’s export is denominated in its currency. If Nigeria’s exports are priced in naira and its imports from the US in dollars then, ceteris paribus, a devaluation of the naira makes imports dearer to Nigerians and makes Nigerian goods cheaper to Americans. This would then lead to an increase in the quantum of exports to the US and a reduction in the quantum of imports from there per unit of time. But while this is a necessary condition, it is not a sufficient one. For a positive change in the balance of payments the increase in the quantum of exports must be substantial enough to outweigh the revenue lost through a reduction in price. In other words the quantity exported must increase at a rate faster than the rate of decrease in its price. Similarly imports must fall faster than their price is increasing. Otherwise the nation may be devoting more of its wealth to importing less and receiving less of the wealth of foreigners for exporting more! In consequence, devaluation by a country whose exports and imports are not price elastic leads to the continued impoverishment of the nation vis a vis its trading partners. The second, and sufficient, condition is therefore that the combined price elasticity of demand for exports and imports must exceed unity.          

http://www.triumphnewspapers.org/WHY17112010.html

Here are some more for you to learn from.
[size=13pt]
Why I will vote for Buhari (II) - Lamido Sanusi[/size]

By Sanusi Lamido Sanusi

The argument of Buharism, for which it was castigated by global capital and its domestic agents, was that these conditions did not exist clearly enough for Nigeria to take the gamble. First our major export, oil, was priced in dollars and the volume exported was determined ab initio by the quota set by OPEC, a cartel to which we belonged. Neither the price nor the volume of our exports would be affected by a devaluation of the naira. As for imports, indeed they would become dearer. However the manufacturing base depended on imported raw materials. Also many essential food items were imported. The demand for imports was therefore inelastic. We would end up spending more of our national income to import less, in the process fuelling inflation, creating excess capacity and unemployment, wiping out the production base of the real sector and causing hardship to the consumer through the erosion of real disposable incomes. Given the structural dislocations in income distribution in Nigeria the only groups who would benefit from devaluation were the rich parasites who had enough liquidity to continue with their conspicuous consumption, the large multi-national corporations with an unlimited access to loanable funds and the foreign "investor" who can now purchase our grossly cheapened and undervalued domestic assets.

In one stroke we would wipe out the middle class, destroy indigenous manufacturing, undervalue the national wealth and create inflation and unemployment. This is standard economic theory and it is exactly what happened to Nigeria after it went through the hands of our IMF economists under IBB. The decision not to devalue set Buharism on a collision course with those who wanted devaluation and would profit from it-namely global capitalism, the so-called "captains of industry" (an acronym for the errand boys of multinational corporations), the nouveaux-riches parasites who had naira and dollars waiting to be spent, the rump elements of feudalism and so on. Buharism therefore was a crisis in the dominant class, a fracturing of its members into a patriotic, nationalist group and a dependent, parasitic and corrupt one. It was not a struggle between classes but within the same class. A victory for Buharism would be a victory for the more progressive elements of the national bourgeoisie. Unfortunately the fifth columnists within the military establishment were allied to the backward and retrogressive elements and succeeded in defeating Buharism before it took firm root. But I digress.

Having decided not to devalue or to rush into privatization and liberalization Buharism still faced an economic crisis it must address. There was pressure on foreign reserves, mounting foreign debt and a Balance of Payments crisis. Clearly the demand for foreign exchange outstripped its supply. The government therefore adopted demand management measures. The basic principle was that we did not really need all that we imported and if we could ensure that our scarce foreign exchange was only allocated to what we really needed we would be able to pay our debts and lay the foundations for economic stability. But this line of action also has its drawbacks.

First, there are political costs to be borne in terms of opposition from those who feel unfairly excluded from the allocation process and who do not share the government’s sense of priorities. Muslims for example cursed Buhari’s government for restricting the number of pilgrims in order to conserve foreign exchange.

Second, in all attempts to manage demand through quotas and quantitative restrictions there is room for abuse because there is always the incentive of a premium to be earned through circumvention of due process. Import licenses become "hot cake" and the black market for foreign exchange highly lucrative. This policy can only succeed if backed by strong deterrent laws and strict and enforcible exchange rules. Again it is trite micro-economic theory that where price is fixed below equilibrium the market is only cleared through quotas and the potential exists for round tripping as there will be a minority willing and able to offer a very high price for the "artificially scarce" product. So again we see that the harsh exchange control and economic sabotage laws of Buharism were a necessary and logical fallout of its economic theory.

Conclusion

I have tried to show in this intervention what I consider to be the principal building blocks of the military government of Muhammadu Buhari and the logical connection between its ideology, its economic theory and the legal and political superstructure that characterized it. My objective is to raise the intellectual profile of discourse beyond its present focus on personalities by letting readers see the intricate links between disparate and seemingly unrelated aspects of that government, thus contextualizing the actions of Buharism in its specific historical and ideological milieu. I have tried to review its treatment of politicians as part of a general struggle against primitive accumulation and its harsh laws on exchange and economic crimes as a necessary fallout of economic policy options. Similarly its treatment of drug pushers reflected the patriotic zeal of a bourgeois nationalist establishment.

As happens in all such cases a number of innocent people become victims of draconian laws, such as a few honest leaders like Shehu Shagari and Balarabe Musa who were improperly detained. The reality however is that many of those claiming to be victims today were looters who deserved to go to jail but who would like to hide under the cover of a few glaring errors. The failure of key members of the Buhari administration to tender public and unreserved apology to those who may have been improperly detained has not helped matters in this regard.

This raises a question I have often been asked. Do I support Buhari’s decision to contest for the presidency of Nigeria? My answer is no. And I will explain.

First, I believe Buhari played a creditable role in a particular historical epoch but like Tolstoy and Marx I do not believe he can re-enact that role at will. Men do not make history exactly as they please but, as Marx wrote in the 18th Brumaire, "in circumstances directly encountered, given and transmitted from the past." Muhammadu Buhari as a military general had more room for manoevre than he can ever hope for in Nigerian Politics.

Second, I am convinced that the situation of Nigeria and its elite today is worse than it was in 1983.Compared to the politicians who populate the PDP, ANPP and AD today, second republic politicians were angels. Buhari waged a battle against second republic politicians, but he is joining this generation. Anyone who rides a tiger ends up in its belly and one man cannot change the system from within. A number of those Buhari jailed for theft later became ministers and many of those who hold key offices in all tiers of government and the legislature were made by the very system he sought to destroy. My view is that Nigeria needs people like Buhari in politics but not to contest elections. Buhari should be in politics to develop Civil Society and strengthen the conscience of the nation. He should try to develop many Buharis who will continue to challenge the elements that have hijacked the nation.

Third, I do not think Nigerians today are ready for Buhari. Everywhere you turn you see thieves who have amassed wealth in the last four years, be they legislators, Local Government chairmen and councilors, or governors and ministers. But these are the heroes in their societies. They are the religious leaders and ethnic champions and Nigerians, especially northerners, will castigate and discredit anyone who challenges them. Unless we start by educating our people and changing their value system, people like Buhari will remain the victims of their own love for Nigeria.

Fourth, and on a lighter note, I am opposed to recycled material. In a nation of 120million people we can do better than restrict our leadership to a small group. I think Buhari, Babangida and yes Obasanjo should simply allow others try their hand instead of believing they have the monopoly of wisdom.

Having said all this let me conclude by saying that if Buhari gets a nomination he will have my vote (for what it is worth). I will vote for him not, like some have averred, because he is a northerner and a Muslim or because I think his candidacy is good for the north and Islam; I will vote for him not because I think he will make a good democrat or that he was not a dictator. I will vote for Buhari as a Nigerian for a leader who restored my pride and dignity and my belief in the motherland. I will vote for the man who made it undesirable for the "Andrews" to "check out" instead of staying to change Nigeria. I will vote for Buhari to say thank you for the world view of Buharism, a truly nationalist ideology for all Nigerians. I do not know if Buhari is still a nationalist or a closet bigot and fanatic, or if he was the spirit and not just the face of Buharism. My vote for him is not based on a divination of what he is or may be, but a celebration of what his government was and what it gave to the nation.

http://www.triumphnewspapers.org/why18112010.html

The observed worsening economic and financial conditions and alleged widespread
corruption led to a military coup at the end of 1983.  The new regime (under General Buhari)
reinforced the austerity measures while additional exchange and trade restrictions were
announced in 1984.  The fiscal and monetary measures announced were aimed drastically
reducing domestic demand pressures.  The government also implemented expenditure cuts
and substantial tax increases.  The expenditure cuts were particularly successful in the short
run and they reduce the overall federal government fiscal deficit to a significant percentage in
1985.  As a consequence, the governmentís recourse to bank credit was virtually eliminated
and inflationary pressures were significantly reduced.
However, the governmentís austerity measures did meat with some setback.  The emphasis
on short run stabilization measures reflected the governmentís belief that Nigeriaís economic
and financial problems were transient and would eventually disappear with a recovery in oil
export prices.  In the event, oil prices did not recover, and it became clear that the
stabilization policies had failed to address the underlying economic problems.  Thus,
crippling import shortages and growing social and political discontent set the stage for
another military coup (under General Babangida) who assumed power in October, 198.  After
considerable popular debate, the Babangida Government adopted in June 1986 a
comprehensive structural adjustment program (SAP) that signaled a radical departure from
previous adjustment efforts.  It emphasized reliance on market forces and deregulation.  The
objectives of the SAP were to restructure and diversify the productive base of the economy
so as to reduce dependency on the oil sector and imports; achieve fiscal and balance of
payments viability over the medium term; and promote non-inflationary economic growth.   10
The key policies designed to achieve these objectives were the tightening of financial
policies; the adoption of a market determined exchange rate; the Liberalization of the
external trade and payments system; the elimination of price controls and commodity boards;
the decontrol of interest rates; the rationalization and restructuring of public expenditure; the
rationalization of the tariff structure and the overall lowering of tariffs; and the privatization;
or commercialization of most federal public enterprises.
During this period, some of Nigeriaís earlier anti-export bias in manufacturing disappeared
with policy reforms, and producers switched from imported to local inputs.  Particularly in
agro-processing and textile manufacturing, there was greater use of locally produced
materials.  The assembly-based manufacturing, which had depended on imported inputs and
been shielded from competition and market signals, contracted.  But the industry as a whole
grew by 3.5 percent per year (1986-1990); similarly, production of traditional food crops and
cash crops increased and agricultural output grew at 4.7 percent per year on average.  
However, the gradual loss of macroeconomic control after 1990 eroded many of the positive
changes that took place in the preceding years and have begun impacting negatively real
economic indicators.  Although significant progress was made in the liberalization of the
economy, specifically through reform of the exchange and the trade system and the freeing of
prices, macroeconomic policy implementation remained erratic and failed to bring inflation
under control. Nwaobi

Roger this https://www.nairaland.com/nigeria/topic-620012.32.html
Look at what Buhari's policies did to the economy

agabaI23:

Roger this https://www.nairaland.com/nigeria/topic-620012.32.html
Look at what Buhari's policies did to the economy

Sanusi Lamido Sanusi says Buhari did well for the economy but some clueless Nairalander disagrees. Whom do we believe?

Hmmm

PDP panics, meets for fresh tactics
By Olusola Fabiyi, Abuja
Monday, 11 Apr 2011

The leadership of the Peoples Democratic Party is not comfortable with the results trickling in from the Saturday National Assembly elections.


Fearing that the results could affect the party’s performance in the presidential election, the leadership of the party and the members of the Presidential Campaign Council are billed to meet in Abuja either on Monday (today) or Tuesday.


Our correspondent gathered that already, the party, through the PDP Presidential Campaign Committee, had asked its members to return to Abuja for the strategic meeting.


It was gathered that the party had thought that the PDP would win all the senatorial seats in both Oyo and Ogun States and also win at least two states each from both Osun and Ondo States.


However, the results released from these states indicated that voters had shattered the calculation of the party.


According to the results, the PDP has lost all the three senatorial seats in Osun, Ondo, Lagos, Ogun States while it also lost two seats each in Oyo and Edo States to the Action Congress of Nigeria.


Apart from this, the party was said not to be comfortable with the result from some states from the North, especially from Katsina and Bauchi States where it was evident that the PDP was not doing well as expected.


This is because the governors of the two states – Alhaji Ibrahim Shema and Alhaji Isa Yuguda, are also the zonal campaign coordinators for Presidential Jonathan Goodluck Jonathan.


A source within the party said, “We must not be complacent with the results we are receiving from the field. We are devastated with the results from the South-West, some states like Imo from the South-East, and some states like Katsina and Bauchi States.


“This shows that we must do more work and also review our tactics if we must win the presidency. This is why we are meeting in Abuja either on Monday or Tuesday to review the situation.”


The source added that though the party was aware that the Labour Party was not fielding any presidential candidate, the way it had performed in Bayelsa State had shown that it was a strong party. He said, “We are therefore worried that the PDP is being challenged by the party in the state.


“We must therefore meet to put a stop to the trend because if we don’t, there is every tendency that both the ACN and the Congress for Political Change could gang up and truncate the chance of our presidential candidate.”


However, the party said it was still confident that Jonathan was still in good position to win the presidential election, which holds on Saturday.


The spokesperson for the presidential campaign council, Mallam Abba Dabo, who spoke with our correspondent on Sunday, said that the results from across the country did not indicate that the chances of Jonathan were slim.


He said that with the result from Kano State, which he said indicated that the PDP was having an edge over the All Nigerian Peoples Party, the ruling party in the state, the PDP was on its way to winning the state and also the presidency.


He said, “Great outcome, if you look at the result of the National Assembly election across the states. Though we lost in the South-West and some states, but despite the permutation of some people, we did not lose in the North-West as being envisaged.


“Yes, we lost in Katsina beyond our expectations, but you can see that we also won in Kano State against all odds and permutations. We are winning.


“Our meeting is expected to review the results and plan afresh. Don’t forget that other political parties would also meet. So, our meeting is not based on panicking.”


He said those expecting runoff in the presidential election should bury the thought, “because Jonathan is going to win with a wide margin.”

Source: http://www.punchng.com/Articl.aspx?theartic=Art2011041130767

Of all the jubilations GEJ fans and supporters has been parading here, their power house is still jittery that, they may be flushed out sooner than expected. Let drums begins. BB all the way.

Evil Brain:

Sanusi Lamido Sanusi says Buhari did well for the economy but some clueless Nairalander disagrees. Whom do we believe?

Hmmm

The guy is indeed clueless. In fact he practically claimed on a separate thread that he knows more about Nigerian economy than Sanusi Lamido. Unfortunately for his confused mind he even failed a simple statistics test.