obailala:
Businessmen dont take their money to locations where their isn't money; even the akara and akamu seller would prefer to take their wares through neighbourhoods where there is substantial wealth.

Foreign investors aren't charities, rather they are fair weather businessmen who come when there is money flowing around and exit when the money stops flowing. They will all rush back into Nigeria the moment the economy regains consciousness.

Imagine, the govt you campaigned for knocked out our economy into unconsciousness in 1yr, clap for yourself.

Am not a fans of Kayose. But he said it all. Am absolutely with him on this. Nigerian are damn hungry. Hunger is in town

MadamExcellency:


The long and short story depend on Buhari embracing the so-called corrupt Nigeria Business Community to get Nigeria started from where he cremated it alive.

Buhari is like a central defender/captain with deep seated hatred for his goalkeeper (business community) and is doing everything possible to get him sacked while still confessing his love for the progress of the team.

Buhari should be told that capitalists are collaborators and not thieves. He needs them as much as they need him.

You nailed it. The rigid FOREX mechanism is the no1 reason for FDI outflows. I can't exchange my dollars into Naira today in order to invest in your country at an artificially reduced exchange rate, knowing that when the pressure gets too much, you can devalue your currency overnight and wipe out half of my investment. Buhari needs to take his hands off the Naira, full stop.

KauntantJoyce:
I have a dream!!!
That v.soon, Naija, will smile again!

spectranet and ntel nko?

This is were the main issue is. But the likes of hungerBad will not want to see it but would rather latch on the theatrics of Efcc.

Some of us know how we earn our money whether they stole money or not, it doesn't affect us. Now you want us to be happy with a government that is destroying the economy and blame it on graft?

Enough of shielding the incompetence of buhari government with stories of graft.

hmmmmmmmmmmmmmmmmmm.


This is just morning.


I just hope that what Obiano said about how long it takes a country to come out of recession is not true.

Wait..what?!
"Inflow shrinks"
Really?!!
Thought Dogonyaro was globetrotting to bring in investors?!
With all the travel travel. .investors e no bring, e kuku pursue the ones wey dey? Plague o!!

KauntantJoyce:
I have a dream!!!
That v.soon, Naija, will smile again!

...yes I can see it now ... thanks for the enlightenment ... Just wish the crocodile smile ends 2019

ivandragon:
am waiting to read from those who put the whole blame of Nigeria's recession on the fall in crude oil price, activities of criminals in the ND or looting under past governments...

Exactly. Afterall crude prices have been at similar levels of $45 for more than one year, so this cannot be blamed on the usual "fall in crude price" or better still on GEJ. Buhari's unguarded utterances have played a role in this demise. What an unfortunate situation Nigeria finds itself today with this kind of leader. Nigerians must continue to speak out against this clueless government.

obailala:
Businessmen dont take their money to locations where their isn't money; even the akara and akamu seller would prefer to take their wares through neighbourhoods where there is substantial wealth.

Foreign investors aren't charities, rather they are fair weather businessmen who come when there is money flowing around and exit when the money stops flowing . They will all rush back into Nigeria the moment the economy regains consciousness.

...and who is responsible for this wonderful feat? Hope you're NOT blaming the business men?

MadamExcellency:
The long and short story depend on Buhari embracing the so-called corrupt Nigeria Business Community to get Nigeria started from where he cremated it alive.

Buhari is like a central defender/captain with deep seated hatred for his goalkeeper (business community) and is doing everything possible to get him sacked while still confessing his love for the progress of the team.

Buhari should be told that capitalists are collaborators and are not thieves. He needs them as much as they need him.

He didn't understand as a young military dictator in 1984, how can he understand now?



www.nairaland.com/attachments/2095210_worst_jpeg588f192a23aa02a7b350a8bbe5d18306

luvinhubby:


Imagine, the govt you campaigned for knocked out our economy into unconsciousness in 1yr, clap for yourself.

When you cut the tap root of a tree, the leaves don't wither immediately... it takes at least a week or two before the leaves begin to dry up and fall off. But common sense entails that the problem did not start when the leaves began to fall.

Nigeria was on life support and the economy was accelerating to the abyss when the last govt handed over to the present govt. Only ignorant people dont kbow that and only ignorant people argue about that when reminded of the facts. A country that was already borrowing to pay FG workers' salaries, a country that was already owing fuel importers for almost a year, a country whose foreign reserves dropped by $10bn in 6 months even when oil still sold above $65 (meanwhile the naira still crashed from N160 to N220 within few months notwithstanding the $10bn expended to checkmate this drop), a country whose gdp growth rate just within 3 consecutive quarters had dropped from 6-7% to 2.3%. This same country owed all contractors their entitlements since 2014, forcing contractors to abandon site and render thousands jobless, not until this year (2016) when the new govt managed to provide funds to get contractors back to site. I could go on and on, but then, there is no point. People who have chosen to be ignorant will remain so irrespective of what they are shown. So bros, park well!

ivandragon:
am waiting to read from those who put the whole blame of Nigeria's recession on the fall in crude oil price, activities of criminals in the ND or looting under past governments...

Do you mean these guys?



www.nairaland.com/attachments/3251622_image_jpeg_jpeg6f95b5e7a24ad4fc0808d6698fd37362

It will neva b well wit does dat voted for buhari

MadamExcellency:


The long and short story depend on Buhari embracing the so-called corrupt Nigeria Business Community to get Nigeria started from where he cremated it alive.

Buhari is like a central defender/captain with deep seated hatred for his goalkeeper (business community) and is doing everything possible to get him sacked while still confessing his love for the progress of the team.

Buhari should be told that capitalists are collaborators and not thieves. He needs them as much as they need him.

This too academical for the way Buhari is operating He wants to domesticate everything in the country like its a cattle ranch.. blff na him sabi. He has an endpoint

Ontarget:
I feel for Buhari. He is taking the blame for all the sins of the previous governments plus his. The truth is that most of our present failures are as a result of the failures of the previous administrations to lay a good foundation for the future.

Enough of this. Point to one good economic policy that the messianic government has formulated and implemented that seems to be working to you. You people talked about the ugly of the past as if there were no good thing from that past this government could have built on.

[quote author=anonimi post=49477232]

He didn't understand as a young military dictator in 1984, how can he understand now?


quote]



Please bros go bar take 20 bottles of hennesy for this comment abeg i'll send the payment thru email. Nice one

This is the first stat that directly indicts the present government. No one will be able to blame the past adminstration for this. This is the direct result of the constant demarketing of the country on top of haphazard policies. The hole we are in is still expanding and deepening. It may take another full year to hit tne bottom of it. Recovery may not be in the life of this administration. I'm yet to see otherwise. Our hope lies in OPEC. They govern this country ultimately.

Forwetinnah:


...and who is responsible for this wonderful feat? Hope you're NOT blaming the business men?

When a country of 170 million people foolishly chose to rely on just one single volatile priced commodity for over 92% of its income, the effect of cutting up to 60% of this foolish country's income shouldnt be too difficult to discern.

Unfortunately, even with the present hit, the countrymen (both educated and uneducated) for flimsy political/tribal/ethnic reasons still bluntly refuse to realise that this total reliance on one commodity is the mother of the current travails of the nation, rather we choose to politicise and trivialise it by claiming it is one politician or the other who came in a year ago that is responsible for the problem. Nigeria obviously isnt ready to grow cos you cant grow without firstly defining and accepting what the problem truly is.

obailala:
When you cut the tap root of a tree, the leaves don't wither immediately... it takes at least a week or two before the leaves begin to dry up and fall off. But common sense entails that the problem did not start when the leaves began to fall.

Nigeria was on life support and the economy was accelerating to the abyss when the last govt handed over to the present govt. Only ignorant people dont kbow that and only ignorant people argue about that when reminded of the facts. A country that was already borrowing to pay FG workers' salaries, a country that was already owing fuel importers for almost a year, a country whose foreign reserves dropped by $10bn in 6 months even when oil still sold above $65 (meanwhile the naira still crashed from N160 to N220 within few months notwithstanding the $10bn expended to checkmate this drop), a country whose gdp growth rate just within 3 consecutive quarters had dropped from 6-7% to 2.3%. This same country owed all contractors their entitlements since 2014, forcing contractors to abandon site and render thousands jobless, not until this year (2016) when the new govt managed to provide funds to get contractors back to site. I could go on and on, but then, there is no point. People who have chosen to be ignorant will remain so irrespective of what they are shown. So bros, park well!

When will these lies & propaganda end?
How long before you realise that many irredeemable Buharideens are opening their eyes and transforming into Buharists who want change on their conversion to Wailers?








www.nairaland.com/attachments/2077628_BNGI782FMSI1G20150108171624_jpge5bb24791334f05106b071c3170d959d

FG, States, LGs Share N568.4 Billion for Oct
15 NOVEMBER 2013


Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that the states had requested for $2bn to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

Tinubu Tackles FG, CBN On Excess Crude Oil Sales Account
Feb 22, 2001

The Lagos State Governor, Senator Bola Ahmed Tinubu, yesterday joined issues with the Federal Ministry of Finance and the Central Bank of Nigeria (CB N) over the recent face-off between the different tiers of government on the excess crude oil sales reserve account of US$ 1. 8 billion which is about N198 billion.

Expressing concern at the impression being created that the economy is rudderless, Tinubu argued that the central issue transcends the release or non-release of the fund into the Federation Account.

In his words: “The fundamental issues and principles at stake go much deeper. They are more broadly about the rule of law and the supremacy of the constitution on one hand, and the need for cooperation and coordination in a true federal structure, as a basis for sustaining and strengthening our fledgling democracy on the other hand”.

Governor Tinubu disagreed with the CBN's position that release of the excess crude reserves to the states and local governments, though legitimate, would lead to inflation; cause a rundown of the nation's foreign reserves; weaken the exchange rate further and run counter to agreements reached with the IMF.

The Governor contended that "in a period of excess capacity and low purchasing power, there should not be undue inflationary pressures from an injection of funds into the economy. Instead, such a development should be beneficial to economic activity and growth, despite the fact that there are supply rigidities and inefficiencies which would limit the potential benefits”.

On the purported likely impact on foreign reserves, Tinubu argued that "in an import-dependent economy such as ours, it is inevitable that an upturn in the level of economic activity would engender a fall in foreign reserves. This is not necessarily a bad thing. Rather, it would be immoral to appear to be building up high foreign reserves in the midst of grinding poverty”.

He stressed further that if the N198 billion released is matched by an equivalent US$1.8 billion, there should not be a fall in the value of the Naira as the supply of dollars would be in place to match any increased demand”.

Tinubu also said it would be unfair for the federal government to agree unilaterally to commit revenues due to other tiers of government, to an agreement with the IMF or anyone else.

Attributing inflationary pressures in the economy largely to the federal government's overspending and printing of money to finance such expenditure, Tinubu said "It is hardly fair for the FGN to overspend and then seek to correct the inflationary effect on the economy by starving other tiers of government of their rightful funds”.

Stressing that there is no basis for CBN or any authority to flout the constitution and deny states and local governments their own share of the Federation Account, Tinubu noted that "the excess crude reserve account is itself an illegality, carried over from the military era, as there is no provision in the law or the constitution for federally - collected revenues to be diverted to such an account”.

Advocating constructive dialogue on the management of the economy Governor Tinubu said "it is time for us to sit down and dialogue about how to move from where we are now, to where we need to get to, while respecting true federalism in fiscal and other matters”.

From: http://asiwajubolatinubu.com/archives/news/2001/02/22/20010222N01.html

Impeach Buhari now!

ndcide:
This is were the main issue is. But the likes of hungerBad will not want to see it but would rather latch on the theatrics of Efcc.

Some of us know how we earn our money whether they stole money or not, it doesn't affect us. Now you want us to be happy with a government that is destroying the economy and blame it on graft?

Enough of shielding the incompetence of buhari government with stories of graft.

my guy,u dey reason.

obailala:
When you cut the tap root of a tree, the leaves don't wither immediately... it takes at least a week or two before the leaves begin to dry up and fall off. But common sense entails that the problem did not start when the leaves began to fall.

Nigeria was on life support and the economy was accelerating to the abyss when the last govt handed over to the present govt. Only ignorant people dont kbow that and only ignorant people argue about that when reminded of the facts. A country that was already borrowing to pay FG workers' salaries, a country that was already owing fuel importers for almost a year, a country whose foreign reserves dropped by $10bn in 6 months even when oil still sold above $65 (meanwhile the naira still crashed from N160 to N220 within few months notwithstanding the $10bn expended to checkmate this drop), a country whose gdp growth rate just within 3 consecutive quarters had dropped from 6-7% to 2.3%. This same country owed all contractors their entitlements since 2014, forcing contractors to abandon site and render thousands jobless, not until this year (2016) when the new govt managed to provide funds to get contractors back to site. I could go on and on, but then, there is no point. People who have chosen to be ignorant will remain so irrespective of what they are shown. So bros, park well!

An ignorant mind is better than an jaundiced and skewed mind. A vehicle can decelerate or slow down in a journey but should never be put reverse if progress should be made.
Buhari put Nigeria's economy in reverse gear by his acts, words and lack of policies. The live wire of our economy is crude oil, GEJ made tangible efforts to add agriculture to it and these two sectors are still on operation, which tap root was cut?

dondavinchi:
It will neva b well wit does dat voted for buhari

They are organising to ask for a refund of their votes.



www.nairaland.com/attachments/3234361_fbimg1450823846843_jpegccc7ea9d509141b638a64535ab185d08

Everything don worst

ephi123:


Exactly. Afterall crude prices have been at similar levels of $45 for more than one year, so this cannot be blamed on the usual "fall in crude price" or better still on GEJ. Buhari's unguarded utterances have played a role in this demise. What an unfortunate situation Nigeria finds itself today with this kind of leader. Nigerians must continue to speak out against this clueless government.

No one should even begin to hide under oil prices. They have been low for almost two years now. The present budget was tied to a price lower than we have today. Why can't it impact positively on the economy. And if we know oil is unstable why can't we draw foreign investment with the naira so weak and our assets so attractively priced. Answer, the environment is poor. Can this be blamed on the past regime. No.

When will the present regime begin to take responsibility.... 2017, 2018, 2019 or never. Nigerians have a right to know so they can begin to chart their own future if the government cannot stand to do its job and help them.

anonimi:


When will these lies & propaganda end?
How long before you realise that many irredeemable Buharideens are opening their eyes and transforming into Buharists who want change on their conversion to Wailers?








www.nairaland.com/attachments/2077628_BNGI782FMSI1G20150108171624_jpge5bb24791334f05106b071c3170d959d

Ignorance bug is widespread, hunger also helps to spread it faster. When a person mingles with ignoramuses for too long and he's not well grounded in his books, coupled with the effects of hunger, such a person is bound to fall by the roadside and join the ignoramuses to spew emptiness. That explains the case of those people picking wailers form and claiming that buhari is responsible for the hunger in the land. By the way, just for your info, that someone complains about the actions or inactions or gaffes of the present government, that doesnt make one a wailer; a wailer is one who laments and criticises pointlessly, just for the sake of it.


By the way, it is only ignorant folks that you can deceive by flaunting GDP growth rate of 7% from 2013/2014. Kindly show us the 2.3% (and still falling) GDp growth rate as at the second quarter of 2015 when your oga was leaving offfice?

blueto:
20 Warning Signs Buhari Would Destroy Nigeria’s Economy Which Were Ignored

We told them that General Muhammadu Buhari is an economic assassin. But they claimed his integrity will block loopholes.

But now, naira is on free fall, falling oil prices, inability to sell oil, Biafra agitation, Boko Haram moves, governors’ inability to pay salaries.

We told them that he’s corrupt just like his fellow cronies, but they claimed he never stole a dime.

We told them that Buhari is OLD, DULL, and SLOW, but they said they preferred a dullàrd that created Western Germany and President Mitchell’s to a Ph.D. holder that transformed the Agricultural sector of the economy.

We told them he doesn’t have the moral standard, will and the technological knowhow to tackle corruption, but they claimed even witch hunting is fighting corruption.

We told them he’s full of LIES and DECEIT, but they hoped on the mirage NGN5,000 salary for the jobless and one meal per day for their kids.

We told them that since he knew nothing about fuel subsidy, then he knows nothing about the petroleum industry/sector of the Nigerian economy but they claimed he’ll stabilize world oil price and reduce PMS price to NGN40 per litre.

We told them he has no respect for the rule of law, but they claimed the judiciary was corrupt.

We told them his government is usually marked with heavy job losses and too harsh economic policies but they said they preferred to be jobless in a change government than to be gainfully employed in a Transformation government of Jonathan’s administration.

We told them he is not as humble as he looks but they said he had only NGN1 million and 150 cows.

We told them that he’s too old to govern, they claimed our youths are wasted generations.

We told them he doesn’t have a certificate, they said he can use his NEPA bill.

We told them he’s vindictive, but they said as far as they are concerned, he can employ all his family members, relatives and well wishers into his cabinet, even if they have no formal education, as long as they deliver.

We told them he’s an enemy of democracy, they claimed they prefer his autocracy to the Nigerian Democracy.

We told them he’s not humble but only a pretender, they said he’ll sell off the presidential jets in order to cut cost of governance.

We told them he doesn’t care about the Nigerian citizens, but they claimed he belongs to everybody and belongs to nobody, even though his appointments were mainly for the north, he embarks on fruitless journeys and speaks only to BBC Hausa.

We told them he supported Boko Haram, they told us that even if they found him in a meeting with Shekau and co, that wouldn’t stop them from voting him.

We asked for any tangible thing he’s done for the country after staying away from government for so long, they claimed it didn’t matter.

We told him to get up from honeymoon and hit the ground running, but they called us Wailers..

Finally, we told them he’s a scam, but they shouted Sai Baba!

Behold Nigerians, here is your much desired change!

But then Nigerians there is this saying says, “No matter how long you have travelled on the wrong road, the only way you can get to your destination is to stop and return to the right road”.

Nigeria has been travelling the wrong road in the past 55 years, the earlier we receive common sense and reverse our folly, the better.

Source

LoL, I was the first to make that comment with my previous moniker and on one thread here on NL. The guy who posted it on that website must have been the one who asked me back then if he could copy the post. I told him he could and if he wishes, then he shouldn't bother about referencing.. Didn't know the post will go this far... Am glad tho...

obailala:
When a country of 170 million people foolishly chose to rely on just one single volatile priced commodity for over 92% of its income, the effect of cutting up to 60% of this foolish country's income shouldnt be too difficult to discern.

Unfortunately, even with the present hit, the countrymen (both educated and uneducated) for flimsy political/tribal/ethnic reasons still bluntly refuse to realise that this total reliance on one commodity is the mother of the current travails of the nation, rather we choose to politicise and trivialise it by claiming it is one politician or the other who came in a year ago that is responsible for the problem. Nigeria obviously isnt ready to grow cos you cant grow without firstly defining and accepting what the problem truly is.

Agreed that total reliance is the root cause.
What did DullardPoo do to address the problem for over 40 years i.e. four decades that he has been in power since he was military governor of the old North eastern state.
What are his legacies in education, (which is the sustainable vehicle for industrialisation) even for Katsina state and the north all these decades?
Nothing.
He simply allowed their chidren to be uneducated so he can recruit them easily for his fatwa on the "dogs and baboons to be soaked in blood" when he loses elections. Not so



www.nairaland.com/attachments/2027366_buharinu_jpeg5ce072fcf9c5443e849caa9cebbeaa57

obailala:
Ignorance bug is widespread, hunger also helps to spread it faster. When a person mingles with ignoramuses for too long and he's not well grounded in his books, coupled with the effects of hunger, such a person is bound to fall by the roadside and join the ignoramuses to spew emptiness. That explains the case of those people picking wailers form and claiming that buhari is responsible for the hunger in the land. By the way, just for your info, that someone complains about the actions or inactions or gaffes of the present government, that doesnt make one a wailer; a wailer is one who laments and criticises pointlessly, just for the sake of it.

.....and your point is

Ontarget:
I feel for Buhari. He is taking the blame for all the sins of the previous governments plus his. The truth is that most of our present failures are as a result of the failures of the previous administrations to lay a good foundation for the future.

I hate it when people talk about failures of past administration. Do u think the economic system of Nigeria was stable during Obasanjo and Goodluck E. Regime?? It wasn't, but at least it was not a funeral of our country Nigeria. If we Wan talk about past we go trace this past administration reach independence of Nigeria. So leave that thing. See the truth and speak. What are u defending?

obailala:
When a country of 170 million people foolishly chose to rely on just one single volatile priced commodity for over 92% of its income, the effect of cutting up to 60% of this foolish country's income shouldnt be too difficult to discern.

Unfortunately, even with the present hit, the countrymen (both educated and uneducated) for flimsy political/tribal/ethnic reasons still bluntly refuse to realise that this total reliance on one commodity is the mother of the current travails of the nation, rather we choose to politicise and trivialise it by claiming it is one politician or the other who came in a year ago that is responsible for the problem. Nigeria obviously isnt ready to grow cos you cant grow without firstly defining and accepting what the problem truly is.

am sure that you know your god is still busy looking for the exploration of that same commodity in the northern part of the country. do you realize that Nigeria is not a mono economic country during the regional government days? do you realize that illegal immigration of the Nigerien and Chadian to Nigerian to vote in the northern part of Nigeria to vote as a Nigerian during the election period is corruption? do you realize that gowon is still under training during the time hr becomes head of state? there are some certain facts that you don't know about this country, bottom line is thaay almajiris are the major problem of this country. how can someone who had no knowledge about governance/ainistration govern a country properly?