But the prolonged search by Nigeria’s new president for his cabinet and the relative silence on plans to tackle the tough economic outlook is unsettling investors and damaging business confidence in Africa’s biggest economy.

vedaxcool:
I prefer futuristic strategic decisions being made than short term tactical decisions. We can expect to grow as a country if we keep repeating the same rushed and poorly thought decision making process that landed us where we are. Keep calm and Sai Buhari.

vedaxcool:
I prefer futuristic strategic decisions being made than short term tactical decisions. We can expect to grow as a country if we keep repeating the same rushed and poorly thought decision making process that landed us where we are. Keep calm and Sai Buhari.

BankeSmalls:


Yeah, all these English just to explain a dullardho president?

hinwazaka:
funny, you prefer futuristic whatever. What do you place the vision 2020 under, NEEDS, or the seven term agenda. So according to you they are short term tactics. Go and ask anyone who has offered Eco 417: Development planning as a course and they will enlighten you on the problems of planning in DEVELOPING economies. It was never a problem of planning but rather issues such as implementation of plans, poor communication of the plans and so on.

BankeSmalls:


Yeah, all these English just to explain a dullardho president?

vedaxcool:


Get what i am saying before u rush like a surface run off, making hasty decisions in setting up a cabinet while not addressing root causes why corruption becomes endemic in each administration is not being strategic rather it is being myopic seeking eagerly to please rather than lead.

ronald4lif:
Although the message is credible but the source is ineligible and worrisome. Britain and its Western allies have never been interested in the development and progress of Nigeria and developing nations. Their goal have always been to hold grip control and impede the development of third world nations so for Financial Times, a U.K. tabloid to report on the ministerial delay in Nigeria, a country they have never wanted it progress calls for worry.

hinwazaka:

For starters, he is not tackling what brings about corruption[s] but rather is tying himself down with the characteristics and effects of corruption. This is why I recommended a knowledge of development planning(ECO 417) . This course covers among other topics, the causes, characteristics, effects and solutions to corruption in a holistic manner
Secondly, he is in fact rushing by supposedly doing the job of a ministerial head before appointing the minister. This is like putting the cart before the horse. Have you ever heard of a board attempting to turn fortunes around before hiring a CEO whose job description already covers that. That's why there is a terminology called delegation of duties[/s]

major466:
[s]The problem is not even the delay in forming a cabinate, the economic ideology of the president is the main bone of contention.
PMB believes in big government (Socialism), a phenomenon where government is the sole provider and mover of all economic activities. A system where government is responsible for providing jobs and welfare packages for citizens. These are cardinal believes of Buhari. A look at his economic policies in both the 80s and today point to the fact that PMB is predispose to tight control mechanism (Centralization), as a means to spur disirable economic outputs. Any element of liberalisation and free market were put into reverse gear.
That's why I was not surprised at his recent comments in Benin Rep where he told Nigerians living in that country to stay put and not come back to add more problems to him. Do you know why he said that? Its because he's a Socialist. As a socialist, he believe it is the responsibility of government to control factors of production including provision of jobs. A free market individual will never make that kind of comment because jobs are provided and created by the private sector, not government.
The Buhari APC led government by virture of their body language and campaign promises are socialist. Socialism as an economic system has never led to any form of economic development anywhere in the world, and will never lead to any kind of economic prosperity for Nigeria in the 21st century.
Unless Nigeria is Restructured to practice Real Economic Federalism where each state in the country will have total access and control of their God-given resources and develop at their own pace, Nigeria will continue to remain stagnant economically.[/s]

vedaxcool:


Rubbish! Even the US the self proclaimed defended of capitalism had to practice socialism for its criminal banking system, wise people address real issues using a combination of solutions, not speaking about free market and ideological difference. Federalism is good but it is left for each country to define how they intend to practice it using their own peculiar circumstance.

major466:

Is the US a developing country? Developed countries have no problem applying some aspects of socialism because they have the economic infrastructure to withstand any possible side effect. Welfare packages for example is a socialist policy. So developed countries with large funds to spare will have no problem dabbling into welfare. Nigeria on the other hand a developing country that is eager to develop her economy cannot resort to socialist policies to developed the economy. China that is still a communist country today politically had to abandon socialism as a method of economic development in the 70s. The action to open up the economy and allow private sector become the major mover of factors of production leaped front China from economic stagnation in the late 60s to an industrial economy in 2015. Today China have the second largest economy in the world thanks to the capitalist economic policies. If China had stuck to their government control economy, China will not be were it is today. Socialism has never and will never be a viable option especially for a developing country like Nigeria for economic development.
Show me one country that developed economically through socialism.

vedaxcool:


Dude, who died and made you boss of defining what people can do and what they can't do? Anybody that supports capitalism for the poor and socialism for the rich really suffers severe hypocrisy, a country like I said earlier shouldn't concern itself with liberal crap or socialist mess rather it should combine the two towards achieving their aims, because sometimes you will need to have some consideration for the poor and advantage in the society and at the same time teh entrepreneurial. Nigeria after all runs a mixed economy, until will understand that people grow based on capitalizing on their environmental factors rather than blindly following theories that are sometimes unworkable!

vedaxcool:


He is, that is why the foreign reserve rose and the CBN governor attested to the fact that Buhari activities led to it.

hinwazaka:
People need to understand that the APC government under PMB intends to weaken the private sector and revert the economy back to its lopsided mixed system which was more on the side of a centrally planned economy(socialist). How else do they expect PMB to control the economy to bring about his ivory tower agenda. PMB has always stated that the country was perfect pre- democracy and that the PDP with its Laissez faire system crashed the economy. So such investors are better off looking for friendly markets that support free market policies than waiting for Adam Smith to be reborn.

hinwazaka:

The increase in foreign reserves is primarily down to the huge drop in government expenditure and also the reduction in importation of goods deemed unnecessary to the state. Its not due to any corruption clean up or plugging of leakages as been said by the CBN. Its just the result of an unannounced contractionary monetary policy. The CBN governor is just showing his loyalty to the president

hinwazaka:

The increase in foreign reserves is primarily down to the huge drop in government expenditure and also the reduction in importation of goods deemed unnecessary to the state. Its not due to any corruption clean up or plugging of leakages as been said by the CBN. Its just the result of an unannounced contractionary monetary policy. The CBN governor is just showing his loyalty to the president