Eazybay:


Before you run all over the thread, trying to explain away incompetence, I also need to let u know that this govt has

Removed subsidies
Raised taxes
Plugged Leakages
Raised interest rates
Steady oil income
Eliminated corruption.

Still we have over borrowed for just 1 budget!!! We still need to borrow for the second budget! We have sold oil above the budgetary benchmark hence we have excess crude account increasing.

The painful thing is, there is NO commensurate infrastructural development.

9jakohai:


More the fault of our economy which has been dependent on the sale of raw materials, and importation of lots of finished stuff from the revenues of those raw materials.

This leaves us at the mercy of

1.Falling prices of whatever resource we sell.

2.Policies of manufacturing nations. A manufacturing nation like Japan, Korea or Germany can devalue their currency. to benefit their domestic manufacturers..and as a result, we need to pay more for the stuff we import

We need to go industrial. No choice.

Captain1Nigeria:
Yes boss

9jakohai:


On that climate thing...all we need to do is end gas flaring, and aggressively plant trees in the far North.

eee777:
Nigerians 99% of you folks deserve the kind of leadership bedeviling the cesspits called Nigeria. Instead of joining force together to fight the common enemy "politicians" that is not up to 500,000, you are there arguing about parties, ethnicity, If at 2017, you still do not know that all politicians in Nigeria are the same, you are the BIGGEST FOOL on planet earth

Make una dey there dey talk bubu-jona

They divide u fools on media & enjoy themselves in real life. Same stories of good road, education, health care, electricity, pip borne water. Let them be fooling you with fighting corruption

sinistermind:
When i see such things, to comment go just weak me.

obonujoker:
Lol... I thought Buhari is saving money??

Duru009:
Am travelling to biafra tomorrow. Am tired of Nigeria and Nigerians!!!

ayzTIGER:
No Hope for Nigeria. Is it not time they lay this country 6ft beneath the earth

new2020:
Hausa-Fulani and Yorubaa will destroy this country...they are just scattering everything like babies.

agitator:


Only the ones in PDP are thieves, APC are saints taking us to the promised land.

4Play:
The rise in the FG's debt mirrors the rise in Ogun state's debt under Adeosun's stewardship. For those who attribute Nigeria's present economic malaise solely to Buhari, this is wrong.

You can blame Buhari for the lack of structural reforms, e.g., exchange rate policy and failure to privatise as key examples. But the fiscal policy reflects a view amongst the likes of Adeosun and Udoma that you can "reflate" the economy in the midst of a currency crisis and that Nigeria's infrastructural needs justify a massive debt expansion. This will prove misguided as any debt expansion must be sustainable and anchored on a policy framework that allows the private sector to take a leading role. There is no reason why our railways, air and sea ports ought to be run by a government that has proven incapable of managing anything efficiently.

The government bears the default risk on debt used to finance projects which will be delivered, if at all, way over budget.

All this actually assumes the debt is used to finance capital expenditure, in reality much of it goes to recurrent expenditure which makes prospects much worse.

TheLordIsGr8:


I'm in support of an end to gas flaring. Gas could be used more productively.


I was at a flow station sometime during my school days. This station was being powered by a gas generator. But they still had excess gas to flare. Meanwhile, there is a community nearby that can't boast of 2 hours of electricity daily.

That's the kind of country we live in. Where govt hamstrings everyone and itself.

Before the advent of man, there has been ice ages. Come and gone. Not a single man on earth. Yet ice formed and melted.
But man in his bloated sense of significance wants to claim that his activities can actually influence the climate. Common. Give me a break. Like what percentage of the earth is covered with water? Like 70% or more. Of the 30% we have to inhabit what percentage are we living on?

Man feels too important. Climate change anti-science is driven by greed of politicians like Al Gore and plays on the ego of the virtue-signalling crowd.

See Leonardo di Caprio and Elon Musk jetting all about, even though they are self-proclaimed climavangelists. See Obama's entourage on his visit to Italy. Did he even consider the carbon footprint of such an entourage? Nope. Climate worries are for the little man, right.



A warmer planet makes a greener planet. Plants love it. Animals love it. Food becomes abundant. Glaciers melt and supply more fresh water. And everybody is happy.

baralatie:

using excess gas to power turbines is a good idea but implementation is gonna be somehow

9jakohai:



1.I take issue with your comment that I am explaining away incompetence.

2.Rather, on the contrary, I am explaining why we have problems, and why we need solutions.....now.

3.My solution is simple. Nigeria needs to take the long and hard road to become an exporter of manufactured goods. You know...that' how China went from backward nation to lender to nations.

4.Not all critiques of the govt begin with 'Buhari is a XYZ...or PRQ'.

ivandragon:
bottom line is that PMB does not have the administrative acumen to maintain let alone improve an economy that requires nurturing & constant adjustments.

borrowing in itself is not an issue, but when you borrow without any commensurate infrastructural & broad based economic growth, it is a problem.

as much as the past government was wasteful to a worrying extent it could point to capital projects such as roads, rail lines, power stations, educational institutions & some others.

it also had to expend resources on debatable but equally essential recurrent expenses like the war on terror, 100% increase in wages, massive subsidy payments, defending the naira, encouraging local industry growth (agriculture, automotive industries, local content in the oil & gas sector) & attracting FDI...

yet, it maintained a relatively stable polity with all the so called massive corruption & 'cluelessness'.

fact remains that PMB is inept & has surrounded himself with inept people.