tpiar:
Mr interviewer, I believe it's prononunced Awny, not Ohnee.

This was in the first minute of the video, am I missing something?

And you have a Yoruba name but don't know how it's pronounced?

end times o.

omohayek:


He suggested that Buhari

(1) stop trying to defend an artificial rate for the Naira and let the market set its value, instead of squandering precious foreign reserves while imposing arbitrary restrictions on imports (harming manufacturers).

(2) abolish the fuel subsidy and completely deregulate oil refining and distribution. That money could be spent on much more important things, like infrastructure, education and health. The same point has been made by Kachikwu (who you'd think Buhari would hear out, as NNPC head) and now even the World Bank.

omohayek:


I'm sure the interviewer knew the right pronunciation - he was just trying to "blow phoneh" ...

birdman:


The issue here is that Nigeria unwisely borrowed during GEJ's term. Letting Naira just rise means we will never be able to pay that debt back, because we borrowed in dollars. The money controls are also keeping bigwigs from laundering stolen cash out of the country, even as it is affecting the common man. Im not suggesting either Sanusi or CBN is right...just that there are more variables that make this far from being simplistic. Buhari's current policy IMO is betting that a low level of indebtedness and recovered loot is a better way to go. Im not necessarily a fan of this, but I see the logic.

birdman:

You see how much flak GEJ took for trying to remove even a portion of the subsidy? The economic and political pain may just be too much for a country already trying to stabilize. Btw, this is why I am against the #5000 nonsense for youths. Once you start giving freeebies, it is very hard to stop it...stopping subsidy is common sense, but unfortunately the economy is now built to expect it. If you remove it, you WILL wipe out most small businesses. And the last thing you need is another political fight while biafra, bh, corruption are going on

omohayek:


It's true that any private borrowers who have foreign loans will struggle to pay back their debts under a devalued currency, but we have to balance this fact against the reality that a cheaper Naira also means Nigerian businesses will be more competitive on international markets, while Nigerian assets begin to look a lot more tempting for foreign investors.

People may say that Nigeria currently doesn't have much by way of exports to benefit from a weaker currency, but if we're ever going to emulate the Bangalore or Shenzhen models, unit labor costs will be a crucial component of the draw for foreign direct investment. China's labor force is both aging rapidly and becoming expensive, and the Chinese manufacturers are already looking for new places to set up shop now that their domestic workers are starting to prefer better paid work, and nowhere in Nigeria is in a better position to benefit from this than the SW, but an overvalued Naira that can't be freely sold for dollars negates the advantages we have.

Truth be told, while I think it's important to root out corruption going forward, to ease the cost of doing business and encourage foreign investment, [b]I don't really think any oil money stolen during the Jonathan era is that important, especially when compared to the scale of FDI that we need to attract to attain Asian tiger level growth rates. [/b]That's why I think Buhari's seeming obsession with corruption to the exclusion of all else is misplaced - there are more important systemic issues that need fixing (and Fashola is saying all the right things about fixing some of them).

I agree that Buhari's 5,000 Naira pledge was a reckless pledge that will be difficult to remove if it ever becomes unaffordable. I suspect that when he made the pledge, he wasn't really expecting that he'd win the election and actually have to honor his promises. That's the only way it makes sense to me.\

As politically unappealing as these policies might seem, we Yorubas would potentially be their greatest beneficiaries, just as we benefited the most from telecoms deregulation. The SW could be the first part of black Africa to climb onto the industrialization path that the East Asian countries laid out, but first we have to get rid of populist policies that have strongly discourage investment and growth.

birdman:

Are you a Hayek fan, or is that just a coincidence.

Ilaje44:
Afi igba ti won discourage awon omowe ati ojogbon wonyi lati maa jomitoro oro lori itakun yii.

Mo ki gbogbo yin sibesibe wipe e ku igbiyanju. Ibeere ko loni ise o. E ma dekun lati maa ro opolo nipa bi a se le tun ilu wa se. Alajobi a gbe wa.

Aareonakakanfo
IlekeHD
Modath
Kasimoto
Shym3x
Deola
Birdman
Omohayek
Lagosmayor
Firefire

Ilaje44:
Afi igba ti won discourage awon omowe ati ojogbon wonyi lati maa jomitoro oro lori itakun yii.

Mo ki gbogbo yin sibesibe wipe e ku igbiyanju. Ibere ko loni ise o. E ma dekun lati maa ro opolo nipa bi a se le tun ilu wa se. Alajobi a gbe wa.

Aareonakakanfo
IlekeHD
Modath
Katsumoto
Shym3x
Deola
Birdman
Omohayek
Lagosmayor
Firefire

tpiar:


Smh.

Ajobi on top nairaland.

You folks throw heavy curses around so carelessly, one wonders what really the stakes are for you.


Jesu ju gbogbo yin lo., fact.

hinohsend:
missy89, 1bkay3, 1bkaye,
superduperjay, TonySpike,
Ritchiee, BlaqCoffee109, mcfarlin,
Ioannes, forgiveness,
ghostofsparta, dollyak, spicygal, IlekeHD
dollyparton1, angiography,
honeychild, Femiolarinde,
segend, modath, totit,
FFKfuckedBIANCA, Shymm3x ,
tonytony208, OkutaNla,
tupacshakur, tevinsolt, yemaldo, katsumoto
jaymichael, Scholes0, wizguy69,
Rilwayne001, OPCNairaland,
Musiwa419, shizzy7, delpee.
OAUtemitayo , lagosmayor and the rest.....
.
YOU GUYS SHOULD COME BACK JOOR......

Ioannes:


oh my, oh my. I am very much around o. not going anywhere. how's your Sunday going?

hinohsend:




My sunday has been great,it seems u guys perpetually ignoring this thread...i read up what seun did,but, i dont think its enough reason to abandon this thread...seun prob. just felt like reminding us that he's the boss.....nevertheless, u guys shoud come back,this thread gives me joy,i have plans of using this thread to impact positively on yoruba lives,not just online but offline .... This is the sole reason why i visit nairaland....e pada wa ooo.

Shymm3x:
Anthony Femi Joshua!!!!!

Champ!!

omohayek:
I should add that one of the things which set Awolowo's Action Group above competitors like Zik's NCNC - apart from Awolowo's superior organizational skills - was precisely the clear vision Awo and company put forward as to where they wanted to go, and how they intended to get there once in office. What worries me about Buhari is that he doesn't seem to have any vision for Nigeria beyond stamping out corruption, but while that is a laudable aim, even if he were to magically eliminate all corruption in Nigeria tomorrow, that would not be enough to get the country on a high-growth path. It's not as if Buhari hasn't already been receiving sensible economic advice from the likes of Sanusi Lamido, Kachikwu and many others on deregulating the economy, but he hasn't shown any sign of listening, and I'm not hopeful that Buhari will behave any differently if Fashola tells him things about private investment that Buhari doesn't want to hear.

The federal government controls too many crucial parts of the economy, and in the most incompetent manner: electricity, rail, petroleum refinement and distribution, etc. In sane countries, most of these things would be under the control of state governments, but I don't see much of a push to have these powers surrendered to the states. Without some kind of popular pressure, I don't see how a push for decentralization will ever be more than just another stick for ambitious politicians to use at election time and forget thereafter - which is why I see the whole IPOB wahala as a good thing in a way, even if I can't stand Nnamdi Kanu with all his anti-Yoruba ranting.

omohayek:


I'm afraid I have to disagree with you on this: Nigerians are not anymore exempt from the laws of economics than any other peoples in this world. The fact is that under the current setup, unless you're well-connected enough to get access to dollars at the 'official' exchange rate, the black market rate is the only one at which you can buy forex, and this reality is already feeding into prices, wage pressures, etc. Domestic manufacturers in the formal sector (who cannot just go to the black market) are basically stopped from buying any inputs they need to keep producing, be they chemicals, spare parts, precision machinery or what have you: this in turn means they have to bring their operations to a halt, creating shortages in the market, and send their employees home, causing damage in another way. I won't even mention how strongly this discourages foreign direct investment: who would want to put their money into a country if they have no way of knowing they'll ever be able to get it back out?

The primary beneficiaries of Nigeria's exchange rate regime are essentially the same set of people who benefit most from fuel subsidies: well-connected insiders and others fronting for crooked politicians, who are able to make effortless profits by buying forex or petroleum motor spirits at an "official" rate, and then turning right around and selling these on the black market ("round tripping". Meanwhile entrepreneurs who actually want to earn their bread by producing something useful to the world are forced to look for "conne" or "settle" all sorts of political parasites if they don't want to go out of business. Unfortunately, competitors in other parts of the world don't have to put up with such burdens, which is why Nigeria's manufacturing sector has shriveled over the past 40 years.

Ilaje44:

Mi o ro wipe o gbadun sha. Ti aja ba ng sinwin, o ye ki o mo oju olowo e ke. Jesu ti o npariwo e yen, se o ti wo e san na? Jesu ko Esu ni. Alarun iganna!

tpiar:


you are taking this your ayelala thing too far, you sound like a foreigner.

the most you and your cronies can do is arrange another sept 11, you still never pass God and Jesus remains in control, you'd do well to heed him.

and stop throwing curses around, e never reach that level.

Ilaje44:



I guess the rubish I am are shouting on is a Nigerian isn't it?

Mo ji ara mi ni. Nkan yi mo pe yen, o ti gba mi la? Mo je la lo egbogi yi an fun ara mi. Aghinwin ni mi!

Ilaje44:

Mi o ro wipe mo gbadun sha. Ti emi aja ba ng sinwin, o ye ki nmo oju olowo mi ke. Nkan ti mo npariwo e yen, se o ti wo mi san na? Esu ni mi. Emi Alarun iganna!

translation:

I dont think I am ok. If I, a dog, am crazy, I should still know my owner. What I am hollering about, has it healed me yet? I am a devil and I stink of poverty in every ramification!

tpiar:


in case you are not current, look up the meaning of "a ti kaan mo agbelebu".

Yet when you look for his grave today, he is not there.

Does that tell you anything?


may God help you, you f.ool!

tpiar:


in case you are not current, look up the meaning of "a ti kaan mo agbelebu".

Yet when you look for his grave today, he is not there.

Does that tell you anything?


may God help you, you f.ool!

PrincessJaneDoe:


I am a witch

hinohsend:
missy89, 1bkay3, 1bkaye,
superduperjay, TonySpike,
Ritchiee, BlaqCoffee109, mcfarlin,
Ioannes, forgiveness,
ghostofsparta, dollyak, spicygal, IlekeHD
dollyparton1, angiography,
honeychild, Femiolarinde,
segend, modath, totit,
FFKfuckedBIANCA, Shymm3x ,
tonytony208, OkutaNla,
tupacshakur, tevinsolt, yemaldo, katsumoto
jaymichael, Scholes0, wizguy69,
Rilwayne001, OPCNairaland,
Musiwa419, shizzy7, delpee.
Laudate, jstbeinhonest,kagawa10,oduastates, iyalode , OAUtemitayo , lagosmayor and the rest.....
.
YOU GUYS SHOULD COME BACK JOOR......