4Play:
No. Poor economic policies cause far more damage to living standards than the actions of a thousand Yakubus.

From 2014 to 2015, nonoil export income fell from $10bn to $4bn. Foreign investment flows fell from $21bn in 2014 to $5bn in 2016, it was $9bn in 2015. All these happened because of inept policies designed to fix the exchange rate.

Pointing to allegations of recovered $9m pales in significance to the extent of damage caused by having the wrong policy framework. The corruption narrative has become a red herring, a distraction from the incompetence which has birthed multiple exchange rates. You do not justify the loss of tens of billions of dollars by pointing to stories about the theft of millions of dollars.

4Play:
No. Poor economic policies cause far more damage to living standards than the actions of a thousand Yakubus.

From 2014 to 2015, nonoil export income fell from $10bn to $4bn. Foreign investment flows fell from $21bn in 2014 to $5bn in 2016, it was $9bn in 2015. All these happened because of inept policies designed to fix the exchange rate.

Pointing to allegations of recovered $9m pales in significance to the extent of damage caused by having the wrong policy framework. The corruption narrative has become a red herring, a distraction from the incompetence which has birthed multiple exchange rates. You do not justify the loss of tens of billions of dollars by pointing to stories about the theft of millions of dollars.

rusher14:


[b]There are different kinds of economies.

Some attract investors due to the measure of application of rule of Law, social justice and transparent administration. Many European and western nations fall into this category.
Investors know their returns on their investments though small is sustainable and dependable.
I'll call them the overworld.

There are other economies pretty much like the wild, wild west as seen in movies.

Anything goes. You could wake up a billionaire tomorrow because the whole economy is a spinning roulette and your ball might just fall on the lucky number.

Fly-by-night investors, dodgy business people and criminal types love such economies.

Largely unsustainable, most participants get their hands burnt or cut off in the long run.

I'll call these ones the underworld.

Most African Nations, some countries like Pakistan, India, Bangladesh, Afghanistan have an underworld which supercedes their overworld presence.

When there is a change in management especially where the underworld dominates there would be a vast reduction in investment until the punters can determine what kind of policies and house rules govern this new society.

Make of this what you may. [/b]

cktheluckyman:

Buhari has mismanaged the economy.He better get his act right.BTW He is no way better than Yakubu.The same Buhari's presidency cleared a man who "spent"" N270M to clear grass in IDP camp,the same Buhari's administration allocated almost N300M for the construction of a gate house for the VP how exactly is he better than Yakubu

seunmsg:


Do you know how many billions of stolen dollars hidden in secret homes all over the country that are yet to be discovered? Why do you guys like deceiving people with fake statistics once a big fish is caught hands down? Evidence abounds everywhere that Jonathan looted the foreign reserve to fund his election and people like you will rather blame the consequences of his profligacy on Buhari.

Yes, the CBN's policies since 2015 has not really helped matters but the fact remains the current recession is a direct result of the massive corruption of past administrations and the inability of the Jonathan government to save adequately during the oil boom period.

Represented by the Director, Development Finance of the CBN, Dr Mudashiru Olaitan, Emefiele blamed the decline of non oil revenue on the low level of loans to exporters which invariably contributed to the decline in non oil export revenue receipts from $10.53billion in 2014 to $4.39billion in 2015.

For instance, figures obtained by the National Bureau of Statistics stated that as of 2013, the country had a total investment inflow of $21.32bn (N4.2tn). This figure, according to an analysis of the report, declined to $20.72bn (N4.08tn) and $9.64bn (N1.89tn) in the 2014 and 2015 fiscal periods respectively.

The Nigerian economy recorded its worst investment inflow in 10 years with the country attracting a total investment of $5.12bn in the 2016 fiscal period.

ademega:
People now understand why we are in recession

ademega:
People now understand why we are in recession

FuckyourMama:
Afonjas and looting...wether educated or illiterate they steal the same

rusher14:


Allocation is not the same thing as appropriation. That's the reason for vetting by the National Assembly.

Agreed such allocations should ordinarily not make its way into the budget one might think, but details would be nice. I can relate this to the eiffel tower in France around which a glass wall is to be built at 20 million Euros. Some construction costs are perplexing if you don't know the details.

[b]The clearing of grass in IDP camp is one I'm not so conversant with though it is often brought up. If that's the camel that needs flogging in this administration then it might be safe to say corruption is being eradicated or at least suppressed to a minimum.

Comparing Buhari with Yakubu is something most people would only scoff at.

The opprobrium that has greeted Yakubu points to that.[/b]