Clerverly:

Another foolish mumu, who doesn't know his left from the right? Must you comment?

Ogbeni keep shut. Yes I must comment, must you quote me? You APC guys have a very low self esteem. Always seeking validation and when not give you turn out aggressive. Why so much bitterness?

ratiken: Healthy opposition is always welcome which was the reason GEJ gave APC the benefit of doubt with his long silence.

But when you play negative politics, constantly bashing the office of the presidency, criticize every FG move without proffering any tangible solution, inciting the public against the govt, promote violence through pronouncements and statements. Such opposition can easily throw a country into anarchy.

Even the holy book says 'suffer not a witch to live'. All APC have practiced so far is pure witchcraft and evily more. They have to be dealt with both by the FG but more by the nigerian masses using their votes.

I just love ds guy, no Homo

Gabbysky:

koboko69:

Buhari is admired by many for his uprightness and stand against corruption. His government is revered for its ability to keep the country afloat by making progress through sheer economic ingenuity even when it rejected IMF loan and refused to adopt IMF conditionalities to devalue the Naira.His government is praised for its gain in reducing inflation by refusing to devalue the nation's currency, the Nigerian Naira, curbing imports of needless goods, curtailing oil theft and using counter trade policy to barter seized illegally bunkered crude oil for needful goods like machineries, enabling it to export above its OPEC quota.

Why people like you attempt to rewrite history is beyond me. You might admire Buhari for uprightness, a vast majority of Nigerians don't. You can present him again in 2015, we shall/will make this statement loud and clear to you again.

atlwireles:

Why people like you attempt to rewrite history is beyond me. You might admire Buhari for uprightness, a vast majority of Nigerians don't. You can present him again in 2015, we shall/will make this statement loud and clear to you again.

Re-write history? That was curled from BBC. Who are u to speak for a vast majority? That u are blinded by hate and tribal sentiments does not make majority think like you.

bloodyassassin:

my vulturelistic koboko69 my favorite of the supporter of APC.
i miss you oo were have you been?

meanwhile you're a bastard vulture for that comment

Have been fine; thank you!

koboko69:

Re-write history? That was curled from BBC. Who are u to speak for a vast majority? That u are blinded by hate and tribal sentiments does not make majority think like you.

I wonder o! These PDP rats are extremely daft!

koboko69:

Re-write history? That was curled from BBC. Who are u to speak for a vast majority? That u are blinded by hate and tribal sentiments does not make majority think like you.

Please provide the bbc link.If your buhari was that popular, he would have been president by now . After 3 attempts, the narrative of his supposed uprightness is clear to all. You are not blinded by hate and tribal sentiment . Mister give me a break.

koboko69:
Have been fine; thank you!

Ignore that thing. I bet he would have been banned by Seun if he were an APC member.

berem: I wonder o! These PDP rats are extremely daft!

U can say that again

atlwireles:

Please provide the bbc link.If your buhari was that popular, he would have been president by now . After 3 attempts, the narrative of his supposed uprightness is clear to all. You are not blinded by hate and tribal sentiment . Mister give me a break.

Here is your break
http://www.bbc.com/news/world-africa-12890807

lagbake3: Ignore that thing. I bet he would have been banned by Seun if he were an APC member.

you are very correct.

koboko69:
you are very correct.

Some oafs are not worth my mb, walahi.

koboko69:
Here is your break
http://www.bbc.com/news/world-africa-12890807

Did you actually read it? Some of you are just too funny. How does that even come close to your first post?

atlwireles:

Did you actually read it? Some of you are just too funny. How does that even come close to your first post?

Then you must be blind or too lazy to read. I am very much aware of the contents of that article. I used curled from, meaning its somewherebin that article. If you want to start an argument based on other things written there I am ready for you.

[size=18pt]Buharinomics - General Buhari’s economic program marshaled out to salvage the nation in 1984 [/size]

http://www.elombah.com/index.php?option=com_content&view=article&id=5720:is-general-buhari-the-problem-with-nigeria&catid=36:pointblank&Itemid=83

Buharinomics was General Buhari’s economic program marshaled out to salvage the nation in 1984. He summarized the objective of his economic policy (as articulated in the 1984 budget) as follows: "To arrest the decline in the economy, to put the economy on a proper course of recovery and solvency, and to chart a future course for economic stability and prosperity" (West Africa, May 14, 1984). He had previously done similarly, in March while receiving the visiting Sudanese President, Gaafar Nimeiri. Upon his inquiring of what the new military government had in mind for the nation it then ruled, Buhari said to him: "The priority [of his administration] is for economic recovery, providing employment opportunities, improving people's living conditions, consolidating internal security and ensuring foreign respect" (Africa Now, March 1984). In a nutshell, Buharinomics set out to arrest the decline in the economy and refocus it towards recovery. Buharinomics was to wean the nation off consumerism and profligacy, while channeling it towards frugality and productivity. To accomplish this, the government was to cut down on its expenditure, engage in more efficient restricting and controlling of foreign exchange outflow, undertake the revival of the country's productive capacity (concentration was on agriculture), and broaden government's revenue base.
www.nairaland.com/attachments/635156_Buhari_jpgd50be5e2308ebe86c9271391021b0a5f
The first test of Buharinomics was implemented to revive the comatose banking industry and arrest local currency hoarding. In April 1984, the government ordered a change in the color of the Naira. This action was dubbed the “real coup” by unscrupulous business men and politicians who had almost eliminated the need for commercial banking in Nigeria by keeping their moneys under their mattresses or by trafficking them into neighboring West African countries. This currency change, which forced all holders of the naira notes into exchanging them for the new naira notes at commercial banks, infused billions that had remained unaccounted for into the banking industry and eliminated counterfeited currencies, which had inflicted inflationary and other nefarious effects on the economy. This measure had an immediate revitalizing effect in the banking industry and was an unqualified success. Banks that were close to collapsing became vibrant again, to the extent that some of them began to hire hitherto unemployed Nigerians.
www.nairaland.com/attachments/635893_Gen__Buhari_jpg3932850d15a62856c902dd8cc516cff9
To cut down on government expenses, the federal work force was cut by 30% and imports for 1984 pegged at 4 billion pounds (mostly on basic foodstuffs, spare parts, and raw materials for local industries), against 14 billion pounds spent in 1983. To ensure that Nigeria remained respectable on the international business world, Buhari committed to honoring Nigeria’s debt payment schedule irrespective of the limited earning potential of Nigeria. In August 1984, Buhari was on one of his meet-the-people nationwide tours, which he began as soon as the administration got on its feet. Everywhere he went, the people embraced him, coming out en mass and ushering him tumultuous cheers and unreserved applause. In one of his speeches to the people (this one in Owerri), he reiterated Nigeria’s commitment to honoring its debts, the dire economic situation notwithstanding. "The task of this administration is how to persuade Nigerians to understand that for a number of years to come, we would be paying debts, the roads may be long and thorny but we believe that on our shoulders lies the responsibility to save our fatherland from devastation that has resulted from mismanagement" (Newswatch, February 18, 1985).
[img]https://www.nairaland.com/attachments/635886_Gen__Buhari_-_Armed_Forces_Day_jpgae96a40b5e2050b6d582cd44f4943800[/img]
Buhari could not have been any more correct in his statement above. Assuming Nigeria took no further loans, its breakdown of loan repayments was as follows: 3.9 billion naira ($4.4 billion) in 1985, 3.7 billion naira ($4.19 billion) in 1986, 2.8 billion naira ($3.2 billion) in 1987, until a decrease to 703 million in 1991 (Concord Weekly, May 6, 1985). Nigeria’s precarious financial situation made it impossible for it to finance capital projects and meet up its balance of payment obligations. With oil export pegged at 1.3 million barrels per day by OPEC, borrowing from external sources became necessary. To this effect, Nigeria proposed borrowing 1.795m naira to finance its capital project from the IMF. The patriotism with which General Buhari handled Nigeria’s dealings with the IMF was the highlight and beauty of Buharinomics.

[img]https://www.nairaland.com/attachments/635887_General_Muhammadu-Buhari-1984_jpg807fb78f1366f42744d90196f32d264e[/img]
In order to qualify for the loan, IMF gave Nigeria certain conditions which must be met. In 1984 when the naira exchanged for $1.34, the IMF demanded a minimum of 60% devaluation of it. Buhari refused, agreeing only to a "crawling peg"—a mechanism whereby government would realign the currency gradually, forestalling or minimizing economic and social dislocations because of such drastic devaluation of its currency. In addition to the devaluation of the naira, IMF demanded that government took other drastic actions: (a) The government must remove its subsidy on petroleum. (b) It must curtail its expenditure. (c) Government must rationalize its tariff structures. (d) It must put a freeze on its wages. (e) It must put a total end of non-statutory transfers to State governments, (f) Government must at least institute a 30% raise on interest rates—government resisted this because the decline in its revenue earnings and its debt obligations made it almost impossible to raise interest rates without triggering inflation (West Africa, May 14, 1984).
www.nairaland.com/attachments/908607_Gen_Buhari_jpg680f0e3cee55a5a2432551406739fb8e
The Nigerian government and veteran economists in Nigeria (like Aluko, Onosade, Okigbo, etc) could not make sense of being asked to devalue its currency when Nigeria’s imports were in dollar and its export (fixed quantity of oil) was also in dollar. The implication of devaluation was that Nigeria would pay more to import lesser quantity of goods than it did prior to any devaluation. It would also export the same amount of oil it exported before any devaluation and derive lesser revenue than it received before any devaluation The impacts of it debt payment would have harsher effect on the citizenry if the naira was devalued. This did not make any economic sense to Buhari; it struck him as an insult on the intelligence of the African. Finance Minister Onaolapo Soleye and Alhaji Abubakar Alhaji who led the Nigerian delegation to the last negotiation in Washington were chewed out by US Federal Reserve Chairman, Paul Volcker, for presenting the Nigerian governments rejection of most of these recommendations. For rejecting the IMF conditions and the loan, the Buhari administration got into the black book of Washington. Already, it had earned the dislike of 10 Downing Street for cutting down Nigeria’s imports from the UK by about 350%. In any case, without the IMF loan, government was still in a bind as to how to finance capital projects and pay for imports, especially spare parts for local industries, food items, etc. At this juncture, the genius and resourcefulness of Buharinomics illuminated to the delight of the African.
www.nairaland.com/attachments/686219_buhari_parade_jpgcf420c430ac5cdb9a5c0fadf1e0fb509
First, the administration sent Oil Minister Tam David West to OPEC to seek a raise in the quantity of oil that Nigeria could export. If OPEC agreed, Nigeria would expect to generate extra revenue in the long run from any increase of its oil quota and this would assist tremendously in augmenting the shortfall in the nation’s purse. Professor West came back empty handed—the US and Britain had put pressure on their puppets in OPEC (like Saudi Arabia) to refuse Nigeria’s request.
www.nairaland.com/attachments/710787_buhari_pic_gif0b92a71a0ffa3f1da9713778c0f7a2f0
To counter OPEC’s bluff, the Buhari administration entered into a $2 billion barter trade agreement with four countries. Nigeria daily bartered 200,000 barrels of oil as follows: (a) completely knocked down parts for automobiles from Brazil. (b) Construction equipment from Italy (c) Engineering equipment from France, and (d) Capital goods from Austria. This barter trade took care of the administration’s need to have borrowed money but it intensified the ill will the US and Britain had for Nigeria. By bartering this oil, Nigeria was: (a) solving those needs which the proposed IMF loan was geared toward. Doing so without borrowing or feeling the pains of spending the meager amount generated from its OPEC approved 1.3 billion a day oil export is the stuff an economic wizard is made of. (b) Britain had been cut off as Nigeria’s major supplier of the goods which the countries in the barter agreement sent to Nigeria. (c) The US usurious money lenders were denied the chance to suck Nigeria dry through the IMF loan. (d) American and British oil companies were irate that the oil being bartered would flood the oil market, cutting in on their profits. (d) The oil being bartered was oil that used to be illegally bunkered before Buhari put illegal oil bunkering artist out of business. For once, an African country had put positive economic mechanism in place to salvage its ailing economy without swallowing IMF’s poison pills.
www.nairaland.com/attachments/726098_Buhari_jpgd50be5e2308ebe86c9271391021b0a5f
As far as America and Britain were concerned, there was a price to be paid by this Buhari, who thought he was smart enough not to accept subservience to their authority. To begin with, a London newspaper (The Financial Times) published Nigeria’s barter trade agreement with Brazil (which, in truth, was done in secrecy because Buhari treated some aspects of his economic policy as State secret). The British thought it was going to incite OPEC against Nigeria since OPEC as a body did not support oil bartering. Oil Minister Tam David West, in a press conference, said, “If a nation believes it is part of its strategy for national survival to do this [barter trade], why not?” To assure OPEC that Nigeria was not indulging in barter trade in order to pull out of OPEC, he added ”Our strategy is to stay in OPEC and make its presence felt, and work together on programs that will be for the economic interest of all” (Concord Weekly, May 6, 1985). There is more to this barter trade than time will permit one to detail in this piece. For now, it is worth noting that it was the major reason for which Britain and America wanted the Buhari administration overthrown.
www.nairaland.com/attachments/754009_Gen__Buhari_jpg3932850d15a62856c902dd8cc516cff9
The counter trade showcased Buhari as a visionary. He made America and Britain feel silly and they swore to get him out of office. When Babangida took over, on his maiden speech to the nation he promised to revisit the counter trade agreements. Within two weeks in office, September 17, 1985, he setup a panel to review it and recommend to his administration how to revive the economy without the use of counter trade. Babangida rolled back counter trade at the behest of his imperialist masters and at the detriment of the Nigerian nation and people.

[img]https://www.nairaland.com/attachments/754008_Gen__Buhari_-_Armed_Forces_Day_jpgae96a40b5e2050b6d582cd44f4943800[/img]
By the time the Buhari administration was overthrown in August of 1985, Buharinomics was beginning to yield dividends. For example, the inflationary rate had fallen from 23.2% in 1983 to 5.5% in 1985. Nigeria did not regret rejecting the IMF loan because it was meeting its obligation of prompt debt payment and the bartered goods were, to some extent, holding up within the austerity measure which had been in place since the Shagari days. Food was becoming reasonably available for two reasons: (a) The emphasis paid to agriculture had resulted in abundant food harvests, especially yam tubers. (b) The border closure made it impossible for unscrupulous business men to continue smuggling food items into neighboring countries where they sold for twice their value in Nigeria.

Had Buharinomics continued for at least five years, Nigeria would have joined the Asian tigers in economic growth and self reliance. We know that to be true because Babangida came into office and did everything the IMF asked and the Nigerian economy took a dive into the gutter and has not recovered yet.
[img]https://www.nairaland.com/attachments/754010_General_Muhammadu-Buhari-1984_jpg807fb78f1366f42744d90196f32d264e[/img]



for the corrupt, the fear of Buhari is the beginning of wisdom

koboko69:

Then you must be blind or too lazy to read. I am very much aware of the contents of that article. I used curled from, meaning its somewherebin that article. If you want to start an argument based on other things written there I am ready for you.

No need starting anything, Nigerians know Buhari. Given the opportunity again in 2015, they will show, how they feel about him.By the way 90% of whatever you curled was not from that article.

azimibraun: By the time all APc governors are impeached or muscled out of power do you guys think its every member of the APC that will go back and say " No wahala". Its either they fight back vioently or the PDP who muscle them out, will begin to fight themselves and forget governance. This impeach impeach will only make nigerians sympathize with the APC. I knw my people. Must we have a single party? What is wrong in havin an opposition? APC governors are all involved in gross misconduct and no Pdp governor is tied to gross misconduct haba! Can all dis house of assembly members account for their stupendous and extravagant lifestyle? All the cars and houses.

What type of cigarette do you smoke? logically without sentiment. do you believe in good governance? well meaning Nigerian know that GEJ as a president is a disaster! Those who base their judgement on sycophant will definitely regret their lives because, their anticipation is never in the plan of whom they follow like sheep. If presidency is your choice irrespective how mismanagement of predecessor, i think you people should seek another lives! Abacha son's debt forgiveness by present government has proved that GEJ has no fear of God despite emotional sympathy by Nigerians to make him president. I pitty you guys as your future is already traded with Jonathan ambition. in the history of Nigeria, Do you ever see any government that leave presidency possition honorary except Abdul Salam if not for international pressure? I pity your lives all. APC and PDP may share something in common but have you ever ask yourself why the country is perambulating like barber chair? You are a fool if you have no answer to the question. if your selfish gain is your priority, i believe you will bite your finger at the end.

azimibraun: This to me is an open letter to GEj and Nigerians, first it was OBJ now its Buhar telling Nigerians they speak to GEJ behind on how things could work but GEJ never listens. Whatever it is? I think Buihari, Babangida, OBJ, Gowon, Abdulsalam, Pat Utomi, Obi Ezekwesili, Femi Flalana, Wole Soyinka, and a few other Nigerians are clearly in a position to advice GEJ. He can't tell me all these people don't have an atom of love for fatherland. GEJ will self destruct o! Gaddafi, Sadam, Morsi, Mubarak, samuel doe, charles taylor, Mobutu all had suppoters as GEJ has now before their downfall. Absolute powers corrupt absolutely and there is a price tag. I jst hope bush meat no go turn hunter na advice o!n

But these people you mentioned have been in government in one form or the other in the past. Can you care to explain to me what they want to do now that they could not do then? Advise indeed, yeye dey smell.

Buhari is the problem of Nigeria,his mind is evil,his statements can tell,I think someone should explain to this man that politics is a game and the will of the people must prevail,the nassarawa state house of assembly is a representation of the people of nassarawa and the decision is the decision of the people,can PDP try this in Portharcourt,Lagos or Ogun? NO, it would not fly can't this man understand the will of the people if they intend to impeach their governor it means he's doing something wrong and has no relationship with the house of assembly,so therefore he should face the music,Mr Buhari's statement is divisive just because he wants to score cheap political points this man should be in jail for treason charges.

berem: don't mind the hypocrite and religious bigot! Anu ofia!

Sissy are you any better?

I pity those that are hailing the impeachment rocking APC controlled states, honestly it is really disturbing as this will lead to diversion of states money that is supposed to be used for development in the name of placating the states assemblies from now on, we are going to see zero development from now on from most of the states of the nation, the entire country would experience retrogression in development until Nigerians realize the danger that is lurking in the corner

Oops

how time fl....
Cc
presidency
koboko69
lalasticlala
seun
gbawe

[size=13pt]Yea. How time flies. He's doing all the things (and more intensely) that he accused GEJ of[/size]