Prof. I disagreed with you on this one. With your leadership and academic exposure, I expect by now to have made a giant step in nation building. It seem you are also among the elite building your pocket.

anonimi:


Yes. He had.
FACTS are sacred. No amount of propaganda can wipe them off.



www.nairaland.com/attachments/2085409_hh_jpeg07b0e6e05a4624e7545331a83b844508

my friend all credit goes to geJ

APC is just reaping where they did not sow

eyeview:
If you tell Buhari the hard truth,a certain tribe will attack you on his behalf and call you IPoB. Even his own people won't talk but this 'people' will carry it on their head to insult you endlessly.
Let's keep telling them the truth

You are so on point, bros.

Goke7:


I tire o, the way some of our elites have been bashing PMB, shows they are indeed the major cause of our problems cos a lot of them benefit majorly from our importation based economy. They have to prophesy doom so PMB can easily cave in to their desires which is devaluation but God pass them.

I am not sure u and the guy u quoted read thru the post. If you did you would notice his advice.

989900:
Can someone pls. tell anonmin, anonimi, or anonymous that presidential elections are over . . . till 2019?

He's fixated. Maybe the crumbs that's dropping isn't there anymore, hence the Otuekean revisionism. Tell him bro, no more free lunch.

I thought the prof was an advocate for this govt during the last election.he is beginning to sing a new song.even reminding us the early 80s when some general was in power!

benson81:
I thought the prof was an advocate for this govt during the last election.he is beginning to sing a new song.even reminding us the early 80s when some general was in power!

Many of us (probably he too) thought they'd make him a minister. Life sometimes won't go as one wishes. One either relaxes or grows hypertensive.

Mr Utomi that is how Oliseh was analysing football o.

you have a point though.


BTW you are suppose to be a minister right

For those who say and do everything to destroy Nigeria - We are all in this together!

Prof. Soludo, Emir. Sanusi and now Prof. Pat Utomi and many other concerned Nigerians have been making recommendations on how to come out of the current economic crisis. These people are demonstrating their patriotism as individuals but we need a coordinated discuss.

This problem needs a conference of best Nigerian minds to tackle - we do not need Prof. W.S to goad us. The economically advanced USA will be holding a world entrepreneur conference in California close to Silicon-Valley where they believe is the heart of American entrepreneurial renaissance. This is just one of many gatherings they use in gathering information, encouraging debates and ultimately coming-up with policies to improve their economy. If it has been working for them why cant we (let down our pride) and try the same method.

Bevista:
Devaluation is a really tricky subject, especially when there are no real complementary policies & strategies. Nigeria has been devaluing the Naira from less than N1/$ to the current rate of N198/$ and yet there has been no real economic benefit to the country.
---
The biggest beneficiary of devaluation will be government, since they control 95% of what we export (oil). Ordinary Nigerians will be the worst victims since almost every item in the country has some import component. The fact that the president has rejected devaluation, even though it would have been a very easy avenue for him to generate money to fund his budget shows he really thinks about the masses.
---
I think an economic summit where there is a robust discussion on the best economic strategy for the country would be most ideal.

Oga. It is the biggest victims, the people that will diversify the economy not government. Was Nollywood government creation. I am done talking about this issue. Let him not devalue and set the course of this country's economy aright. Rather be waiting for the chicken while the chicken is waiting for the egg. Devaluation is for diversified developed economies abi. Don't worry, miracle will get us there.

We will be in the mud till oil prices rise again, build our reserves and waste it and suffer again by 2023 or so. But develop? For where. That is for sensible nations run by real leaders.

Seriously, PMB should pay less attention to forex and crude oil, focus more on policies that would encourage invest local investments, provision of infrastructures like power, refineries. Many years ago, nigerians hardly listen to our local music, now we are the talk of africa, contributing massively to our gdp.People hardly listen to foreign songs anymore. How much did the forex dollar contribute to this sector's performance? It was just pur hardwork and innovation. Pat Utomi is right on this one. Lets hope the president thinks in this direction.

LordAdam:


Nigeria does not need devaluation right now. Formulate good fiscal policies first, enforce them, then we can better modulate and weigh the benefits of devaluation. Right now, I can only see devaluation as a bad move if enforced.

We don't need an economic summit. Too many cooks spoil the broth. We need a formidable economic team set up by Buhari. Then the team will also have consultants with independent input that is ratified by the team before it is infused into a fiscal policy.

That is exactly what Canada did. That is what Saudi Arabia is currently doing. That is the strategy of World Bank/IMF.

-Lord

The consultants you look for are looking for consultants to heip them. Have you heard anyone speak. Devaluation is not to make things better but to induce coma into the economy while surgery takes place. As long as the dollar remains artificially cheap viz productivity, get it from me. NO ONE WILL MAKE ANYTHING WORTHWHILE THEY CAN BUY. Production is HARD. Devaluation acclimatizes you to that hardship to enable you operate meaningfully. Japan, Germany, the US, Great Britain all went through a period of devaluation and inflation after the second world war. Mexico did so less than a decade ago. They didn't die. Buhari is kicking the can down the road and you are hailing. He is 72. Fewer years than you in this sewer. Enjoy.

If this govt cannot think up its own unique programmes to solve hunger and youth unemployment,it should at least be discerning enough to continue laudable programmes of the past administration like YOUwin which many people have attested to as having fulfilled the purpose for which it was established.

Ebukaokeke5:
Write to the president and his economic team.Provide the solutions since u know them to the presidency and stop making public jester of our states affair.The people need hope and solutions and not speech terrorism.So if u don't know how to pacify the people and dash dem some realisable hope,plz shut ur mouth prof.statements u made on this one I consider classified private.Try and make it so to the appropriate quaters.

The problem is that people like you want to wish away the present situation or pretend it's not true. Even before prof made his position on channels TV, people have been saying it but most people just for partisan reasons attack anyone who speaks. Do we confront issue or do we pretend to make buhari at ease with his presidency?

Ebukaokeke5:
Write to the president and his economic team.Provide the solutions since u know them to the presidency and stop making public jester of our states affair.The people need hope and solutions and not speech terrorism.So if u don't know how to pacify the people and dash dem some realisable hope,plz shut ur mouth prof.statements u made on this one I consider classified private.Try and make it so to the appropriate quaters.

That is what the typical Nigerian wants. Someone to 'PACIFY' him. Not someone to lead him out of his wrong ways so Buhari as the establishment figure is here to maintain the status quo. By 2019 nothing will have. Same ol Nigeria, same ol structure.

Pat u are a perpetual lier. And a misleading speak. Wisdom will require partnering with the current administration to improve Nigerian lots and not the anti Christ prediction. Your days has passed.

Elosky20:
as a prof in economics, why nt advice buhari on what to do rather than being a prophet of doom.

.
Pls try to be wise for ones. It is very important.

Reference:


The consultants you look for are looking for consultants to heip them. Have you heard anyone speak. Devaluation is not to make things better but to induce coma into the economy while surgery takes place. As long as the dollar remains artificially cheap viz productivity, get it from me. NO ONE WILL MAKE ANYTHING WORTHWHILE THEY CAN BUY. Production is HARD. Devaluation acclimatizes you to that hardship to enable you operate meaningfully. Japan, Germany, the US, Great Britain all went through a period of devaluation and inflation after the second world war. Mexico did so less than a decade ago. They didn't die. Buhari is kicking the can down the road and you are hailing. He is 72. Fewer years than you in this sewer. Enjoy.

The people that would be consultants know what to do. The major problem is that there is no economic team to consult. It is that simple. Sanusi, Soludo, Utomi have all made tangible contributions on the state of the economy. In a sane system, they should have direct correspondence with whoever is the head of the economic team and air their opinions. Adeosun should not be reading newspaper or watching channels to know the input of some of Nigerians sharpest economic and financial minds, especially not when we are heading for the greatest recession in the history of Nigeria.

About devaluation, I know what it is about. I am a proponent of devaluation. But after careful consideration, I can testify that it will do us more harm than good. The simple reason is that (using your analogy) you cannot induce a patient into a coma when there is no oxygen tank/anesthesia. That is the current state of the economy.

Who is going to do the operation? Tell me? We do not have a formidable economic team.
What are the surgical tools that would be used to do the operation? Tell me? We do not have a budget yet and an array of good policies already drafted.

None of those countries you mentioned had a senile, arrogant, illiterate president who has no idea about basic Economics 101 and is not willing to let those that have the knowledge do what they know best when they used the policy of devaluation.

I'm not hailing Buhari. I am only concerned about Nigerians who will inevitably take the fall if devaluation happens. This #20 for sachet water will be child's play if we devalue the Naira today. States can't pay salaries. Debt profile is unsustainable. The stability of the nation security-wise is in the balance.

If GEJ and his NOI-led economic team was still in place, I would not have this fear. After all, they devalued twice which is why it took 17 months in total and 8 months of inaction for average Nigerians to start feeling the effect of oil price that had started falling since middle of 2014 deeply. Buhari and his band of merry noisemakers are no match for the pedigree of GEJ and the NOI-led economic team, so we should treat this present crop of mistakes with kid gloves.

Let us wait for the budget to be passed. Maybe with the budget, they would finally be able to unveil practical fiscal policies. Only then will it make sense to devalue the naira. Doing so beforehand, I repeat, is suicide.

-Lord

Elosky20:
as a prof in economics, why nt advice buhari on what to do rather than being a prophet of doom.

If you read it and understood it, you will know he has already proffered a solution except if you are below slandered.

Elosky20:
as a prof in economics, why nt advice buhari on what to do rather than being a prophet of doom.

What stops your Johnny walker President from setting up an economic team with technocrats cut across all parties n regions to proffer solutions to our economic quagmire.

God for bit, as an indigene of Nigeria what effort have you met?.

When its time nigerians should not forget to consult their 'salt of the nation' (Ebonyians)

WHEN DID PAT UTOMI BECOME A PROPHET OF DOOM, INDEED THE END TIME IS AT HAND. ON BEHALF OF NIGERIA AND NIGERIANS I SAY BACK TO SENDER,IJN.

Elosky20:
as a prof in economics, why nt advice buhari on what to do rather than being a prophet of doom.

Has PMB ever listened to anyone? ?

A foolish poster on this thread just said derogatorily that Innoson Vehicle Manufacturing operates 'a cut and join' auto company. How can Nigeria grow if we keep seeing everything through the prixm of tribe and ethnicity. If its not your tribesman then its not good enough.
We need more of those 'cut and join' entrepreuers if we're to grow. Japan , China and even Singapore started small but today its a different story. IVM needs encouragement and not phd syndrom.

Pat Utomi is pained he was not appointed a minister, his hope was dashed at the last minute. So, if he had been appointed into PMB's cabinet he would have advised him to devalue the Naira, thank God he is not appointed. He can continue to rant

Same Pat Utomi who was special adviser to Shagari government in the '80s which messed up our budding democratic experiment after a long military rule! Same Pat Utomi that was MD of volkswagen auto company that has gone into oblivion! Same Pat Utomi that has been wining and dining with the politicians and private sector guys some of who wrecked our economy over the years! Haba Pat!! Give us practical solution and not cry wolf where there appears to be none! Haba Paaaattiii!!!

LordAdam:


PMB should make this guy a consultant. He just nailed it here.

A. Full diversification of the economy cannot happen overnight.
B. There should be good fiscal policies that would create incentives for budding industries. Right now there is none.

These are the real issues not "exchange rate" or devaluation/no devaluation. Even if we devalue the naira now, nothing will improve because there are no policies to take advantage of the decision.

I'm positive that if Buhari spends one month to assemble a formidable team, and brainstorm on a range of policies to affect budding Nigerian industries especially the buoyant agric sector, investors confidence will be piqued and the economy will stop falling. Look at the fiscal policies on local processing of rice and automotive policy by GEJ. Those are sound policies.

Buhari needs to push forward with good policies of his own. Tomatoes are wasting in the north and we are still importing tomato paste when our local tomato paste manufacturers face plenty of logistical challenges. That mini-industry needs government input. Increase import duty on tomato paste and make low interest loans available for the producers. Very soon, like with cement, we would be totally dependent on local production and start exporting tomato paste.

There are many mini-industries like that, that need Buhari's timely intervention to grow and further diversify the economy, but the dullard will prefer to travel without placing emphasis on the economy.

-Lord

am just observing

LordAdam:


The people that would be consultants know what to do. The major problem is that there is no economic team to consult. It is that simple. Sanusi, Soludo, Utomi have all made tangible contributions on the state of the economy. In a sane system, they should have direct correspondence with whoever is the head of the economic team and air their opinions. Adeosun should not be reading newspaper or watching channels to know the input of some of Nigerians sharpest economic and financial minds, especially not when we are heading for the greatest recession in the history of Nigeria.

About devaluation, I know what it is about. I am a proponent of devaluation. But after careful consideration, I can testify that it will do us more harm than good. The simple reason is that (using your analogy) you cannot induce a patient into a coma when there is no oxygen tank/anesthesia. That is the current state of the economy.

Who is going to do the operation? Tell me? We do not have a formidable economic team.
What are the surgical tools that would be used to do the operation? Tell me? We do not have a budget yet and an array of good policies already drafted.

None of those countries you mentioned had a senile, arrogant, illiterate president who has no idea about basic Economics 101 and is not willing to let those that have the knowledge do what they know best when they used the policy of devaluation.

I'm not hailing Buhari. I am only concerned about Nigerians who will inevitably take the fall if devaluation happens. This #20 for sachet water will be child's play if we devalue the Naira today. States can't pay salaries. Debt profile is unsustainable. The stability of the nation security-wise is in the balance.

If GEJ and his NOI-led economic team was still in place, I would not have this fear. After all, they devalued twice which is why it took 17 months in total and 8 months of inaction for average Nigerians to start feeling the effect of oil price that had started falling since middle of 2014 deeply. Buhari and his band of merry noisemakers are no match for the pedigree of GEJ and the NOI-led economic team, so we should treat this present crop of mistakes with kid gloves.

Let us wait for the budget to be passed. Maybe with the budget, they would finally be able to unveil practical fiscal policies. Only then will it make sense to devalue the naira. Doing so beforehand, I repeat, is suicide.

-Lord

nice one

anonimi:



After you bro. After you
Once I see how successful you are in killing yourself I will consider whether I should follow your example.



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hmmm..... There was no need of sending yr pics.

I kinda like yr complexion though. But sorry. I don't do birds.

Salt? I doubt it.

You will queue to breathe sef in your region, not in Nigeria. These NOTICE ME noise makers couldn't get political appointments, so shouting from the hip will be the thing.