Genius100:


Guy, you are a big fool. Please shut up and go read up on the policies APC have clearly presented. The same Okonjo-Iweala that the greatest corruption episodes in Nigeria happened under her watch.. Mumu. Is it only Iweala that understands foreign investors? If it is just about proposing policies, Buhari's adminstration has proposed better policies than the Iweala-led GEJ administration..

Achuwa1:
Bush son didnt fuxck up in those countries,but he achieved what americans wanted of him thts y he was given those accolades & awards...
america is only after their interest & not tht of the subject.

Achuwa1:
If NOI didnt perform she wouldnt be getting all the international awards u see under her kitty & she even served under 2 different regimes because she was gud at what she does,,,
so u apc e-rat should tell ur president to focus on governance & stop junketering around the world to borrow money from islamic countries & stop signing agreement with the arab gulf tht will plung our future generation into bondage in the future.
Nigeria has become a mess under pmb coz his govt doesnt have focus but only fighting opposition in the name coruption & havent even raised up to 10billion in the fight against corruptiin since inception in office,which shows all the publicized figures in the media are all big lies

MayorofLagos:


Lmao! Its amazing that everyone keep touting her experience as an asset. What really is her experience? She failed in her first tenure as finance minister. She came back and failed again....and these riffraff, panhandlers are asking for her return. To do what...fail a third time? Do Ibos want me to do a mythbuster on NOI...it wont be sweet, I promise you. Lets just leave her intact with her skeletons, no need for revelations.

Gbawe, iwo loko won....bring your bulala out and whip these freaks abeg. Lol.

modik:


Can you for once listen to yourself?

You have refused to look at economic indices be fore shouting foul.
When PMB was taking eternity to set up his cabinet you were clapping for him

When he is going around the world telling the whole world that Nigeria is not Safe for investment and broke you were hailing him.

Now that the economy has nosedived, you are looking for paper policy that took forever to surface.

The other day I went to buy bread and was told that a loaf of N200 last week is now N250, yet you are here hailing his paper policy, including the FOREX policy that sumasulted.


"Kwontinuu" fighting corruption, let your economic driver keep looking back through the rear mirror without focusing on the bigger picture in front of him through the windscreen. A Yoruba Proverb Says that when the cloud/heaven falls, it will fall on the head of all, including the ruler and the ruled .

mekaboy:
I know once most people see the title of this thread, they become Sentimental and ethnically hyperactive. But this is not about any ethnic group, religion or political party. This is about the survival of our dear nation.

I can authoritatively say that buhari and the APC have no plans for Nigeria.All they wanted is power, they have got it now and don't know how to handle it.

President Buhari is hiding behind the fight against corruption to distract Nigerians from his lack of understanding and solutions to Nigeria's economic problems.

Yes buhari is fighting corruption, but corruption did not start with the past administration. As a matter of fact, I am not sure any Nigerian president has been as corrupt as abacha who he called a saint(story 4 another day).

Does buhari mean well for Nigeria ?Yes . Did Gej mean well for Nigeria ? Yes.

But having a desire without a plan is like building a castle in the air. I can stay in my room and wish to go to America, if I don't get the required information and follow the application process, I will remain in my room.

That is the situation facing PMB, he is not well informed about our economy. I strongly believe that buhari did not know the content of the budget which he presented, all he knew was the final figures.

Just like the ministerial positions were pened down by the party members who invested billions in the elections, so was the budget. Most of the funds spent in the election is to be recovered through the budget.

That was why the movie surrounding the stealing of the budget occurred. When people criticised the budget, buhari felt embarrassed and withdrew the budget, had a meeting with the APC investors, and they decided to reduce the figures that attracted criticism and move the funds to other area that would not be noticed. All they know is that the must recover their investment through the budget.

Now, the main reason why our economy did well under Gej despite the distraction from bokoharam is not just the oil price, but the policies and his economic team.

Trust me, if Gej had won the elections, things would have been tough in Nigeria but not this tough.

First there would not be the delay in appointing ministers like Buhari did. The economic team would have swung into action to attempt to cushion the effects of the coming economic sunami.

Do you know why I said buhari has no plan or solution to our problems?

1,Buhari is going out there trying to borrow money for an over inflated budget. Is it wrong to borrow? No. But not if you don't have plans to pay.

2, there is a difference between bringing investors into your country and borrowing money. What buhari is going for is to borrow and not bring investment.


3, The reason why a business man will borrow from a bank to do business, is because he believes that what he will do with the money will generate more money, he will pay the bank and also have profit. Because Buhari and his economic team have no solutions to our economic problem, he wants to borrow without interest. This is because the money that will be borrowed will be diverted to private pockets through the budget.

It is the interest on the loan that makes a business man work round the clock. This is why buhari is going out for the Islamic bond with the UAE which I don't know the conditions attached.

Buhari, why are you going outside Nigeria to borrow, when Nigerians are ready and willing to lend to you and the APC? Just make the bonds and treasury bills attractive, then watch Nigerians lend you as much as you want. But because most of the money that will be borrowed will end up in the pockets of the party chiefs, buhari is afraid of borrowing with interest. Because he will be forced to pay Nigerians back their money when it matures and there won't be any money to pay, because they have shared it.

So rather than borrow from the people and pay them with interest if you are sure you have good plans to invest, the govt decides to take from the people by force by Deeping their hands into our accounts and collecting N50 from each transaction.

Buhari and the APC want to short investors out, borrow from the Arab world, and leave Nigerians in debt.

WHY DOES BUHARI NEED OKONJO IWEALA?

1, she understands our economic situation.

2, she understands the fears and desires of foreign investors

3, she can create the balance that will favour both Nigerians and foriegn investors.

Buhari and his economic team are still struggling to understand our economic challenge. Because they don't understand, they can't provide a solution.

Buhari and his team believe they can frustrate investors with their policies and then go out their and borrow from the west. No wonder he is going to the Arab world for non interest loan.

But will Nigeria survive without foriegn investors? No. What will happen is there will be a lot of cash for the govt officials to share, but there will be no jobs.

Our foriegn reserves will dry up and there will be hyper inflation. Naira will exchange at over 500 for a dollar.

The entire system will get messed up and we end up like Zimbabwe.

At that time, we will be on our knees begging investors and their terms will be so unfavourable for us. It is better buhari swallow his pride and beg NOI who can bring the nigerian economy and foriegn investors to a table for negotiation and get us a good deal now. If he keeps being stubborn, and messes things up real bad, there won't be room for negotiation, we will just have to take whatever they offer.

Most Nigerians will say, to hell with foriegn investors, we can make it on our own.

With the kaduna and PH refineries shut down, Nigeria needing to import fuel and pay subsidy, importers needing forex to import. How long will it take before we run out of forex?

Then it will be 10k to a dollar and mega inflation. Buhari better swallow his pride and do the needful before he grounds this nation.

mekaboy:


You are rather allowing sentiments to cloud your reasoning.

You are watching foriegn investors withdraw from Nigeria, watching the naira fall, watching businesses collapse and people loose their jobs and you ask for patients .

You look at the budget in the midst of the oil prices and see how the govt decided to spend more on itself than when oil was higher under Gej. You are watching the stock market crash before your eyes and you are waiting for a miracle?

otokx:


Prices will continue to rise in the short run as we consume goods produced abroad. The flour and butter in bread is imported in $$$. We are only reaping what we have sowed. You may wish to change your breakfast to Ogi and Akara which are made in Nigeria.

LRNZH:
After all this long write up, I hate to simply tell you to go and learn about commodity prices and how they affect dependent economies.

Ngozi did not diversify the economy under GEJ when the oil price was above $100/barrel for over 4 years, it is at $30/barrel that Buhari will go to beg her to perform magic.

Abeg receive sense.

modik:


>>we started importing flour last 8 months.

>>>General price increase(inflation) for imported goods was mismanaged prior "now"??

Kikero112:


Everything points to a faliure of diversification by the last admin among others.And.....it is going to take time to properly diversify. GEJ did not build automotive car plants in eight months.

modik:


Ngozi did not diversify the economy, yet our Automotive industry is receiving life?

Wake up from your delusion!

modik:



You have stressed the obvious.

A journey of a thousand miles start with a stride.

You would agree with me that a budget that has diversification in mind as we can see in 2016 submitted and re-submitted budget has addressed just that by placing communication budget over and above agriculture, works etal?

GEJ did not build automotive car plant but set in motion a policy framework the brought the plants. Policy drives all.

What policy framework so far can you point out that will achieve diversification outside communication?

If agriculture is underfunded, where will flour come from? Maybe from communication ministry?

Kikero112:


If we want to get agric working....we have to stop pretending that subsistence farming is the key to agric development.

We need large working mechanised farms to get our agriculture working again.

And key to diversification is education...which got the lion's share of agric budget.

There should be a supplementary increase for agric....but it has to be money well spent....somehow.

Kikero112:


It was recovering life....because we had the foreign exchange to import the car parts we were assembling in Nigeria.

We have been here before.


During the oil boom years of the 1970's...when oil prices were high.....car companies like Volkswagen, and Peugeot cane and set up assembly plants in Nigeria.Other companies included STEYR,Leyland and Mercedes (Trucks).

They could do tht because......Nigeria had the oil money topay them to import the parts needed to make their cars here in Nigeria cheaply. Add cheap labour (compared to Europe) and Nigeria was making cars by the hundreds.

(This was the time when in 1975....someone could buy a new Volkswagen for less than N2000).

Of course...the Naira was strong because we had enough forex to buffer it.

Then in 1982....oil prices dropped.By 1983....one could get a Peugeot 505 for N13000.

Oil stayed low....and by the mid 1980's it became expensive to import parts to assemble in Nigeria. Ideally....we should have then switched to local sources of raw materials...but we did not have them ready for exploitation because Ajaokuta.......was not complete. (And still is not working.).

By 1991....a Peugeot 505 went for N900000. (Two years earlier....we had devalued the naira). By then....it had become expensive to assemble cars in Nigeria....because thanks to the fall in oil price....we did not have the money to import car parts for assembly.

The same thing....is going to happen to GEJ's car plants....unless we get Ajaokuta sorted. Which PDP failed to do in 16 years!

There is no revolution in Nigeria's automotive industry. We are merely repeating the mistakes of the 1970's and 80's. And to make matters worse....since 1992....Nigeria has been importing lots of second hand cars......draining our little forex even more.(Back in the 1980's a friend of my dad bought a ''Belgium'' car. My dad was like.....Why buy a second hand car when we have good Made in Nigeria cars. Today....even during GEJ'stime....Belgium cars .....aka Tokumbo.....are the new normal).

Buhari should fix Ajaokuta.

modik:


By implication, are you positing that all thriving economies of the world are oil driven?

When shall we Nigerians think outside the box and move away from oil mentality when the world is busy researching and diversifying into alternative sources of energy?

1wolex85:


you know that is not what the guy is saying. He used oil because he was talking about Nigeria and that is our major source of income coupled with the fact that our economy is not diversified

modik:


By implication, are you positing that all thriving economies of the world are oil driven?

When shall we Nigerians think outside the box and move away from oil mentality when the world is busy researching and diversifying into alternative sources of energy?

Achuwa1:
NOI performed credibly well under both regimes she worked,, the only problem she had was tht money was collected from ECA without her consent by the presidency for security issues to fight boko haram tht was instigated by buhari & apc to distabalize GEj government.,
so dis apc e-rat should know tht the dipletion of eca fund was coz of the fight against bokor haram & not noi,,,

mekaboy:


You are right she did not. Under which administration was the e - wallet introduced? Under which administration was the automo policy? Where is thr minister for agric under Gej today?

We all know the effect of oil price in Nigeria, but the way PMB and his team are handling the situation is sending the wrong signal.

We need balance for things to run smoothly in this nation.

Gbawe:


Don't mind them. NOI , after the facts and revelations, supervised the current mess we are in today and only sadists who want Buhari to fail, and ethnic bigots, will advocate for her return. She is a liar and an unscrupulous women who had no qualms deceiving the world about Nigeria's "robust economy" while every kobo was being looted under her nose and the wheels were falling off the Nigerian economy. To be honest, folks like the OP should think before they talk because many Nigerians are now very, very angry about what GEJ, NOI, Allison-Madueke et al did.

Holding brief for those folks and even clamouring for their return will only go to convince well-meaning Nigerians that some folks, while pretending to be Nigerians, do not mean well for Nigeria. What manner of insanity would lead anyone to ask for NOI to return? Why do we not then ask for Hitler to return and lead Germany or lobby for the return of Idi Amin et al? Some people have no shame and it is obvious they see everything from an ethnic viewpoint to the extent they will never denounce the wrongdoers from their ethnic groups however heinous their crimes. NOI was a very, very, very, very , very big fat failure under GEJ. That is an economic fact no one can spin.

modik:


Can you for once listen to yourself?

You have refused to look at economic indices be fore shouting foul.
When PMB was taking eternity to set up his cabinet you were clapping for him

When he is going around the world telling the whole world that Nigeria is not Safe for investment and broke you were hailing him.

Now that the economy has nosedived, you are looking for paper policy that took forever to surface.

The other day I went to buy bread and was told that a loaf of N200 last week is now N250, yet you are here hailing his paper policy, including the FOREX policy that sumasulted.


"Kwontinuu" fighting corruption, let your economic driver keep looking back through the rear mirror without focusing on the bigger picture in front of him through the windscreen. A Yoruba Proverb Says that when the cloud/heaven falls, it will fall on the head of all, including the ruler and the ruled .

TheGoodJoe:



Do you expect the price of goods and services to stay the same after Crude price went from $100.00 to $27.00 in a country that depends solely on crude sales to fuel its economy.

Okonjo Iweala was a disaster. Stop painting the devil as an angel.

modik:


By implication, are you positing that all thriving economies of the world are oil driven?

When shall we Nigerians think outside the box and move away from oil mentality when the world is busy researching and diversifying into alternative sources of energy?

modik:


Let us continue in supporting reactionary and Blame/bulk passing economic management rather than responsible/proactive governance.

Time will tell if Okonjo Iweala is a better economic manager or not.

Sit tight, fasten your sit belt and enjoy your flight into the world of CHANGE.

WE ARE JUST TAKING OFF.

No sentiments over 1+1 = 2