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1989 Recession Was Worse, But Nigeria Survived – Fashola - Politics (4) - Nairaland

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Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by Nobody: 11:42am On Dec 21, 2016
three:
The way this fellow employs his oratory skills to mislead is amazing!

Strategies to employ when speaking with Nigerian 'Youth'

STEP 1: Blame the Past Government
"He recalled that for upward of three years before he was made minister, no contractor was paid, which led to shedding of jobs in the three sectors he is overseeing,"


STEP 2: Engage in Self Praise
“I believe so much in the future of this country, I remained, worked hard, though I never knew I will sit here as a minister. So, I want to say to you the youth, don’t lose faith, don’t despair, there is hope and light at the end of the tunnel,’’ he said.


STEP 3: Pass the Buck
"He, however underscored the need for Nigerians to “roll up our sleeves and work hard’’ to get the country out of the economic quagmire."


“Only the President, cannot recover and grow the economy, everybody must understand that we are at the time when we must work our hardest,’’ he said."

STEP 4: Seat Back and allow the 'Youth' oooh and ahhh and wonder why they hadn't thought about it the way Mr. Fash had just laid it out

STEP 5: Patiently wait for another opportunity to 'school' the youth

You are blessed!
Your wisdom is on par with that of King Solomon.

1 Like

Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by Nobody: 11:50am On Dec 21, 2016
Thunder fire u
Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by Halo22: 12:02pm On Dec 21, 2016
Fashola.... instead of to accept laxity in your duty, you are here talking rubbish.
Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by omohayek: 12:22pm On Dec 21, 2016
4Play:


Like saying Somalia will eventually come out of war (every human-induced phenomena has an end point). The question is: why subject ourselves to unnecessary suffering through ineffectual economic policies?

That is the most painful thing of all about the current recession. Despite all the excuses proffered by Buhari and his cabinet, it is manifestly clear that his nonsensical policies have seriously worsened a situation that could easily have been ameliorated by a more sensible policy platform. Let the Naira float freely, sell off all non-performing or neglected state "assets" like the refineries and airports, deregulate the petroleum refining business, amend the Land Use Act to strengthen private property rights, start serious work on abolishing as many barriers to business as possible ... None of this stuff is rocket science, yet the Buhari administration has yet to take a single concrete step in the right direction.

2 Likes

Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by Zelex9(m): 1:22pm On Dec 21, 2016
My father stated the same. He had tried to relocate about back to Nigeria that year but he said things were so bad he decided to stay in the UK for the meanwhile. All in all whether a Recession is worse than another, there are people who are seriously struggling to make ends meet during these periods. Nothing new here, we know Nigeria will survive regardless.
Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by 4Play(m): 1:31pm On Dec 21, 2016
omohayek:


That is the most painful thing of all about the current recession. Despite all the excuses proffered by Buhari and his cabinet, it is manifestly clear that his nonsensical policies have seriously worsened a situation that could easily have been ameliorated by a more sensible policy platform. Let the Naira float freely, sell off all non-performing or neglected state "assets" like the refineries and airports, deregulate the petroleum refining business, amend the Land Use Act to strengthen private property rights, start serious work on abolishing as many barriers to business as possible ... None of this stuff is rocket science, yet the Buhari administration has yet to take a single concrete step in the right direction.

I suspect an explanation for the intransigence of the administration lies in vested interests who exploit the lucrative opportunities the present policy regime provides.

Keeping the refineries in state hands provides an opportunity for NNPC officials to milk the country: same goes for airports/seaports. The disparity between the parallel and official exchange rates allows the highly connected to arbitrage, e.t.c.

To be fair, this is a long running problem that predates the Buhari regime. The present government simply made matters worse, particularly in its handling of the currency rate.

But you are right, the impoverishment of Nigerians is needless. It's downright malevolent and is aided and abbeted by the masochism of Nigerians who are blissfully oblivious of policy alternatives.

3 Likes

Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by DASPARTAN: 1:37pm On Dec 21, 2016
ALHAJI FASH HOLD IT THERE ABEG ENUF IS ENUFF!, NO CUN TURN US TO BOTTOMBELLE DEY CARI US GO HISTORY, FOR WHAT? WE AIN'T STONE AGED DONT TAKE US TO THE PAST, ITS REAL!! UR GOVT IS ONLY WORSE THAN 1989'S. SO WE SHD LINGER IN SUFFERING!, CHANGE D #2017.
Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by Ngokafor(f): 1:58pm On Dec 21, 2016
vodutive:


Buhari inherited a recession both times.

Buhari's misfortune is that he always comes in when Oil prices are low.

Buhari's misfortune is that he is always coming in to clean up someone else's mess.

Having said that, both times he has never been able to articulate a clear and credible economic blueprint.

It is easy to look good when Oil is $100 but I have no doubt Buhari would have been a better president if he had come in after Obasanjo, not because he is a good manager of the economy but because there wouldn't have been the levels of looting we witnessed and I am confident he would have spent the windfall better building our infrastructure and saving for the rainy day. We would have been in a better position to ride this slowdown in Oil if Buhari was the one who just left power but he has never shown he is able to handle an economy in hard times.









...Awww what a tragedy and shame!!...'A Low Down Dirty Shame'indeed!!

...Imagine what an adult who aparantly prides himself on being intelligent wrote and expects right-thinking individuals to agree with him undecided

...Excuses upon excuse, plethora of excuses and lame justifications for obvious failures on the part of buhari and his apc cohorts..

...But rest assured that you guys(Apc supporters and buhari) are in for a big surprise in 2019 if this recession persists till then..book mark that.
Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by ojinku(m): 2:56pm On Dec 21, 2016
TippyTop:

In 1984 there was recession and Bubu was head of state.
2016 there's another recession, guess who's head of state?
Same Bubu the recession man, is it coincidence that every time Bubu govern there's always recession?

Buhari presided over the two recessions in our history, quite a feat.

Bravo!!! You are quite a good analyzer. Just nothing but the truth.

1 Like

Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by Carmal90(m): 6:57pm On Dec 21, 2016
vodutive:


I was around then, were you? I never said there wasn't jubilation, just as people are complaining and want him out now. What I said is be careful what you wish for.

What I sad is the problems of Nigeria today are down to Babangida. Words and phrases like "egunje" ,"settlemet", "anything for the boys", "we are loyal" entered the national pysche under IBB. Shey your mother said we were celebrating?...she is right but please go back and ask your mother when Nigerians started using these words, go back and ask her under whose regime did the average Nigerian become corrupt. Our biggest problem is corruption, IBB's legacy is that he made corruption part of the DNA of the average Nigerian.


If you vote out Buhari who is coming in ......Atiku? Atiku is IBB pert2. People keep making mistakes because they never learn from the past.


I am not a fan of Buhari as such, he is not the messiah but unless you give me somebody credible, that isn't part of the corrupt establishment and therefore compromised, I'd rather continue with Buhari.

Sir,corruption is not as bad as incompetence, Jonathan govt was corrupt likewise buhari,what stand him above buhari is he is more competent than Buhari.
If he was so good during his first time of rule, why did Nigerians celebrated his removal, IBB govt was by far better than Buhari 18 months regime,he is incompetent..dazzol
Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by Nobody: 7:11pm On Dec 21, 2016
Carmal90:


Sir,corruption is not as bad as incompetence, Jonathan govt was corrupt likewise buhari,what stand him above buhari is he is more competent than Buhari.
If he was so good during his first time of rule, why did Nigerians celebrated his removal, IBB govt was by far better than Buhari 18 months regime,he is incompetent..dazzol

he wasn't more competent. His incompetence was masked by high Oil prices. No disrespect but it's difficult to explain these things to people who do not understand economics and how economies work. If you did you wouldn't make excuses for GEJ. No disrespect but I dont want to waste my time trying.

For instance the lay man thinks when the price Oil is $100, all that money goes to the govt, it doesn't. There are only a few people who understand that when Oil prices drop from $100 to $40, Govt's revenue drops from $30/barrel to $7 and to make matters worse we are earning $7 on 1.6m instead of $30 on 2.2m barrels. If you do the math, Govts revenue from Oil under Buhari is 20% of what it was under GEJ and to make matters worse we are spending half of it importing petrol because GEJ spent all our forex reserves on Subsidy and built no refineries in the good times.....is that competence?


We've had Oil booms in the past but all those who presided over them built infrastructure. Gowon, Mirtala/OBJ part1 and Shagari. Most of what you see today was built buy these 3. There was corruption especially under Shagari but at least we had not just something but major projects to show for it. During Obasanjo's second stint Oil averaged $40, he met forex reserves of $3.9B, he didn't do much in terms of infrastructure and his govt was quite corrupt but he paid foreign debts of $18 and left reserves of $45B. This idiot GEJ inherited foreign debt of $3.9B, foreign reserves of $47B, Oil price more than double at an average of $100+/barrel, did not build any infrastructure but left foreign debt of $9B, foreign reserves of $35B and N7 trillion in local debts. what does we have to show for it?


Look I have no problem admitting Buhari's failings, but I really don't have time for anybody who in this day an age stands up to defend GEJ, such a person is either unenlightened, uneducated or a brainwashed sycophant.

He is by far...no contest, the most incompetent leader and his administration the most corrupt we've ever had.

Hear from FFK's mouth https://www.facebook.com/femifanikayode/posts/3939982187431

2 Likes

Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by Carmal90(m): 8:22pm On Dec 21, 2016
vodutive:


he wasn't more competent. His incompetence was masked by high Oil prices. No disrespect but it's difficult to explain these things to people who do not understand economics and how economies work. If you did you wouldn't make excuses for GEJ. No disrespect but I dont want to waste my time trying.

For instance the lay man thinks when the price Oil is $100, all that money goes to the govt, it doesn't. There are only a few people who understand that when Oil prices drop from $100 to $40, Govt's revenue drops from $30/barrel to $7 and to make matters worse we are earning $7 on 1.6m instead of $30 on 2.2m barrels. If you do the math, Govts revenue from Oil under Buhari is 20% of what it was under GEJ and to make matters worse we are spending half of it importing petrol because GEJ spent all our forex reserves on Subsidy and built no refineries in the good times.....is that competence?


We've had Oil booms in the past but all those who presided over them built infrastructure. Gowon, Mirtala/OBJ part1 and Shagari. Most of what you see today was built buy these 3. There was corruption especially under Shagari but at least we had not just something but major projects to show for it. During Obasanjo's second stint Oil averaged $40, he met forex reserves of $3.9B, he didn't do much in terms of infrastructure and his govt was quite corrupt but he paid foreign debts of $18 and left reserves of $45B. This idiot GEJ inherited foreign debt of $3.9B, foreign reserves of $47B, Oil price more than double at an average of $100+/barrel, did not build any infrastructure but left foreign debt of $9B, foreign reserves of $35B and N7 trillion in local debts. what does we have to show for it?


Look I have no problem admitting Buhari's failings, but I really don't have time for anybody who in this day an age stands up to defend GEJ, such a person is either unenlightened, uneducated or a brainwashed sycophant.

He is by far...no contest, the most incompetent leader and his administration the most corrupt we've ever had.

Hear from FFK's mouth https://www.facebook.com/femifanikayode/posts/3939982187431

If u like write more long epistle, all I and majority of Nigerians know is gej is far more competent than ur tin god Buhari,
According to ur analysis we had oil boom during get tenure,and corruption took centre stage, am ok with that, but common simple arithmetic will tell u if u are collecting 100 naira as salary Nd ur COMPANY decided to be deducting frivolous to d extent what u take home is 20 naira, pls tell me what is d difference between u and someone collecting 20 naira from another company, u said gej tenure was exemplified by corruption, what is now happening under saint buhari,nothing, I tell u incompetence is a grievous damage to Nigerians than corruption, cos under corruption there was life.
Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by ivandragon: 12:15pm On Dec 22, 2016
bbb
Re: 1989 Recession Was Worse, But Nigeria Survived – Fashola by 0ubenji(m): 8:29pm On Dec 23, 2016
idupaul:


I realised recently that the only person that had significantly destroyed Nigeria was Buhari .
twice

1 Like

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