omokab:
You missed another genuine point. She increased our foreign reserve from 29 billion US dollars to 45 billion US dollar when the price of crude oil dropped 30 dollar, now about 70 dollar compare to wen oil was selling at 110-130. She really try on

Meanwhile at N65 subsidy for crude at $80/barrel you lots are screaming, now imagine the massive subsidy GEJ was paying for you and myself at N87 and crude at $120/barrel?

Increased foreign reserve by $15b but nations debt increased by $35.6bn..

ashacot:


Don't come here to start giving us voodoo economic analysis. Our economy doesn't need savings and it needs infrastructure yet all through Ngozi time, Recurrent expenditure was almost double our capital expenditure.

If Ngozi was on cos, she would never had asked us to braise up for tougher times and possible recession that we eventually entered.

She even lamented after she left that one of the reason we couldn't avoid recession was because of his boss lack of WILL to save for the rainy days.

If They had saved, we would have cushion the effect of low oil price.

...yes.. a very good economy is one where savings rate is low nd spending rate is high.....
yes, sh lambasted politicians for not saving for the rainy day, dat does not mean save all d money like adeosun advised her boss. savings shld b low does not mean savings shld not exist,cuz it's accumulated savings dt eventually forms capital..
sh advice d country to brace up for d harsh times ahead, adeosun never spoke to Nigerians to brace then up for wot is ahead... recession was with us even wen Ngozi was around. but sh shielded the country from it.adeosun foes nt know Hw to do dt.

now wot is recession..? it is a situation where the index of GDP of an economy fails to increase over two quarters of a financial year.

what causes, d GDP not to grow..? it is simply failing aggregate demad...

what causes this fall in d demand for goods nd service ( aggregate demand) to fall...?. it is where there is shrinking volume of money in the economy...

Hw is money being pumped into the economy..? through reduction of the CBN bank rate or the reduction of income tax, or the massive award of infrastructure contract by the govts...

remember what 1st task buhari undertook when he came to power..? he stopped all govt contract ongoing across the country. and he did dt for over 18 months...

so u now understand how buhari caused recession..?at that same period taxes on bank operations above 100k was introduced. same time, fuel price was raised, same period, acc govt acct was synchronised thru TSA nd all fed govt monies were withdrawn from the system nd never pump bak into the economy for 18 months...

hope u now understand clearly how adeosun's advice to the president killed lots of nigerians...the woman is an amateur..sh knows nxt to nothing about practical application of textbook theories...

sh messed up with our lives

TRUTHTOPOWER:

Wipe your horribly wailing eyes. The writer said TSA started under jonathan and yielded about 103 billion in 6 horrible years of GEJ and NOI. But under 3 years of PMB and Kemi it has yielded 7 trillion. Nobody needs you to believe this. In fact, the sane wolrd needs you as a specimen of ignorance to discourage teachable people.

TSA saved 7 trillion or TSA deposits increased to 7trillion? It's a zero sum game. PMB pulled all government money from banks in one fell swoop which I believe is the trillions quoted. She didn't save the government any money. She just moved it from the banks. The money was not missing in the first place. Did you mention the number of jobs lost due to the hurried implementation and the impact on the economy?

bigpicture001:
..brother if ur very good in politics, beleive me,i would nvr quote u,cuz I know nxt to nothing abt it..but to say it makes more sense for ur dad to save up 1million naira in d family account wen u, his child is in need of 650,000 naira for a life threatening sickness is not sensible for ur dad, ppl build foreign reserves becuz of the rainy days. now in the mist of the rainy daiz. usage shld be encouraged and loans collected. adeosun single handedly killed thousands of nigerians through endless frustration rising from result of her sense policies.......

that's how your daftness and intelligent reach. We are talking about economy, saving for easy trading between our dear country and the rest of the world and you are talking about if I know politics. So your dad don't know how to save but to eat with all his ten fingers. Many of you don't know the difference between savings and borrowing. Loan management is what matter most while you borrow to finance your capital budget. Not in a situation of okonjo that was depleting our foreign reserves and at the same time borrowing to pay workers salary and still telling us to be expecting hard time in the country. Even you as a working a working class(tat is if you are) while would you borrow money from bank or government to buy car or build a house when you have a salary coming in every month. At the same time you will still be saving from your balance after paying your monthly loan. Just because it will take you a longer period to save money and buy the or build the house. We also have what we called time value of money. 1naira you have today is not the same 1 naira you have tomorrow because of some economic factor like inflation. Let me stop here.

TRUTHTOPOWER:
@Dr.Joe Abah on Twitter

1. Full implementation of the Treasury Single Account. When the TSA was piloted under the previous govt, it saved the government N103 billion between 2010 and 2013. With full implementation from 2015, TSA had saved the government N7 TRILLION as at April 2018! Argue with facts!!

2. Voluntary Asset and Income Declaration Scheme (VAIDS). This raised the number of tax payers from 13 million in 2015 to 19.3 million in 2018.
3. Efficiency Unit of the Federal Ministry of Finance saved the govt N34 billion in Travel and Transport alone in 2017 compared to 2016

4. Efficiency Unit saved the govt N24 BILLION on Staioneries and Consumables in 2017 alone compared to 2016.
5. 5. Mrs Adeosun instituted the 22 conditions for states to get bail out funds which improved fiscal responsibility. Admittedly, this wasn’t perfect and needs more work.
6. The Development Bank of Nigeria was established and made operational.
7. The Whistleblower Policy led to the “blowing of 8,000 whistles”, which has led to 10 prosecutions, 4 convictions and the recovery of N14 billion. N440 million has been paid out to 14 people as a result.
8. Linking the BVN to the government IPPIS Payroll System has seen the uncovering of nearly 50,000 multiple salaries. These are not ghost workers but public servants collecting multiple salaries. In one case, one public servant was collecting 20 salaries!
9. Mrs Adeosun instituted the Presidential Initiative on Continuous Audit which sought to clean out the personnel records of government Minsities, Departments, agencies and parastatals. Ironically, it exposed many people with fake degree certificates who were shown the door.
10. The linking of BVN with IPPIS meant that, for the first time, we are able to identify who is benefiting from the creation of ghost workers. We now know who is collecting the salaries. More than 100 people re now being prosecuted by the EFCC for benefitting from ghost workers.

Amazing! But she faked Nysc

She [the Yoruba woman] came from United Kingdom with British accent, obtained fake NYSC certificate and spoke herself into the juicy office of Minister of Finance. She made her billions, drove the economy into recession and inflation, rendered 10 million Nigerians unemployed and wrecked the county into the international headquarters of poverty. Not done, in 3 years, she ran Nigeria into a whopping debt of N11 trillion. And she made her billions. And guess what? She just ran back to United Kingdom. Tell me what else they call YAHOO YAHOO.

omokab:
that's how your daftness and intelligent reach. We are talking about economy, saving for easy trading between our dear country and the rest of the world and you are talking about if I know politics. So your dad don't know how to save but to eat with all his ten fingers. Many of you don't know the difference between savings and borrowing. Loan management is what matter most while you borrow to finance your capital budget. Not in a situation of okonjo that was depleting our foreign reserves and at the same time borrowing to pay workers salary and still telling us to be expecting hard time in the country. Even you as a working a working class(tat is if you are) while would you borrow money from bank or government to buy car or build a house when you have a salary coming in every month. At the same time you will still be saving from your balance after paying your monthly loan. Just because it will take you a longer period to save money and buy the or build the house. We also have what we called time value of money. 1naira you have today is not the same 1 naira you have tomorrow because of some economic factor like inflation. Let me stop here.

.....

Mr economist, I am a very insulting person, but I hold made not to unleash him on u,so we can discuss as educated,persons, but ur fast to add all manner of insults on ur quote...plz dnt tempt me..

back to the topic at hand.they tell u in textbook that cash crops are those grown for export in exchange for money, does it mean cash crops can't be processed in ur own country for ude..?.thats the same thing for foreign reserves, the money belongs to u,and is serve a purpose among OTHER purpose, to show a nation credibility for enhanced international trade, but remember I said among other things.

foreign reserves can also be used to build infrastructure, it can be used for loan management like OBJ did. so my man, dnt b restricted by just textbook, that's kemi's mistake.

ministers are policy makers nd not law makers, iweala met an economy that is xterised,by very high public servant nd narrow private sector..sh started he process of narrowing Recurrent expenditure by introducing the monetization policy.if u studied labour economist, u wld hv known that massive relief of workers of their jobs is a no no,it has to be don gradually, sh increased VAT to raise revenue, sh created the TSA to guard against leakages...nd suddenly their was a massive dwindling of govt revenue...if it were u and ur adeosun, u wld choose to do wot kemi did and send millions to grave,

no iweala, borrowed, to kip people alive yet announced to then to tighten thier belt as salaries may start delaying, sh introduce tax for the wealthy etc.

the difference btw iweala nd adeosun is dt iweala knows that economy affects ppl nd harsh policies myt kill humans in d economy whilst kemi is too theoretical abt her management..it is on record that iweala bed the govt at the gov forum to plz save for the rainy day,which they refused cuz of greed.....
iweala, created you win to grow investment, kemi crested n- power to pay more salaries.

iweala invested on joint private nd govt transport busses, inscription of fed,govt,assist,mass transit.. to alleviate the high cost of transport, do that ppl wld allow her deregulate nd reduce govt spending...kemi deregulated without thinking about the people...

if u must know,nigeria I'd nit an empty land, it us full with ppl,so theoretical textbook,policies can hv a delay effect on people.thst wot kemi never realised....

insult me again mr working class. I know all this cuz I read,eat,sleep econonics,nd hardly contributed to any other sector..i teach economics at a federal university..so don't think ur chatting with a great age boi......

Listen pips,

The best Defense for Kemi Adeosun is to encourage her to, further to her resignation, present herself for trial. She should be bold to face the consequences of her actions or inaction as a citizen and as an adult.

Today, I'm grossly disappointed in Dr. Joe Abah

I present you below another spirited attempt at her Defense, but I maintain that she must take the full haul to redeem herself

https://donseze./2018/09/18/in-defence-of-kemi-adeosun/

Yyeske:
Question should be what was the condition of the economy when she came in

are you sincerely asking yourself that question?

bigpicture001:
.....

Mr economist, I am a very insulting person, but I hold made not to unleash him on u,so we can discuss as educated,persons, but ur fast to add all manner of insults on ur quote...plz dnt tempt me..

back to the topic at hand.they tell u in textbook that cash crops are those grown for export in exchange for money, does it mean cash crops can't be processed in ur own country for ude..?.thats the same thing for foreign reserves, the money belongs to u,and is serve a purpose among OTHER purpose, to show a nation credibility for enhanced international trade, but remember I said among other things.

foreign reserves can also be used to build infrastructure, it can be used for loan management like OBJ did. so my man, dnt b restricted by just textbook, that's kemi's mistake.

ministers are policy makers nd not law makers, iweala met an economy that is xterised,by very high public servant nd narrow private sector..sh started he process of narrowing Recurrent expenditure by introducing the monetization policy.if u studied labour economist, u wld hv known that massive relief of workers of their jobs is a no no,it has to be don gradually, sh increased VAT to raise revenue, sh created the TSA to guard against leakages...nd suddenly their was a massive dwindling of govt revenue...if it were u and ur adeosun, u wld choose to do wot kemi did and send millions to grave,

no iweala, borrowed, to kip people alive yet announced to then to tighten thier belt as salaries may start delaying, sh introduce tax for the wealthy etc.

the difference btw iweala nd adeosun is dt iweala knows that economy affects ppl nd harsh policies myt kill humans in d economy whilst kemi is too theoretical abt her management..it is on record that iweala bed the govt at the gov forum to plz save for the rainy day,which they refused cuz of greed.....
iweala, created you win to grow investment, kemi crested n- power to pay more salaries.

iweala invested on joint private nd govt transport busses, inscription of fed,govt,assist,mass transit.. to alleviate the high cost of transport, do that ppl wld allow her deregulate nd reduce govt spending...kemi deregulated without thinking about the people...

if u must know,nigeria I'd nit an empty land, it us full with ppl,so theoretical textbook,policies can hv a delay effect on people.thst wot kemi never realised....

insult me again mr working class. I know all this cuz I read,eat,sleep econonics,nd hardly contributed to any other sector..i teach economics at a federal university..so don't think ur chatting with a great age boi......

my responds did not insult you except where I also used your dad as an example base on what you used. Theoretical or practical all have meaning to the economy base on your assumption and findings. Micro from household to macro the larger economy. All government of the day must have one policy or the order but how to utilise those policy for effective and efficiency on economy is what matter most. Any reserve is meant for a purpose. And it must have a long span. Ypu are saving for the raining days ahead. Not that you can not take money from foreign reserve but you must be very careful because it will affect a lot of things which may bring down the economy. Thank GOD you said okonjo said we must save because she knows the important of saving. Any economy that is not saving is a not a good economy. That economy may be going at a high speed but it must collapse one day and it may a longer day before recovery which is one of the reason we are here today. Just like somebody that have 1m in his account and he started wasting the money maybe on dating girls and drinking beers. No savings at all. After some month he now realise that he left with just 20k then he started looking for where to give money to his girl friends and buy beers so that people will not see him as a poor man, mind you maybe he collected loan to build house initially but he has wasted the money on another thing. Please where, how, and when did you want him to get that money back? Maybe in the next three years after servicing his loan and get another one. Another area you mentioned is revenue getting to TSA by raising tax. Kemi has done well with this together with fowler. Okonjo initiated tsa but not fully implemented it. Kemi saw the policy and worked better on it. Those that refuse to join before are now part of the tsa. Our tax have increased tremendously to the revenue we are generating to thetsa more than any previous government. I'm sure you know this as an economist or can get this on Internet by comparing the past with present using ration analysis. More so this government is notowing salary of workers and not short paying talkless, of retrenchment. Lastly, I like ideal analysis than abusing words as many of nairaland used to do. You should also consider one factor in nigeria that is too much love of money. This led to looting of our resources and tsa have help a lot to reduce it but not to the expectation. With time it will still improve. Thank you.

Esseite:
These are just riddles...

She saved, she saved, she saved.. yet our debt went from N9tr to N22.7tr

thats the new form of corruption..save in the the bank to tell people you are clean, then acquire loans and embezzle it

TRUTHTOPOWER:
@Dr.Joe Abah on Twitter

1. Full implementation of the Treasury Single Account. When the TSA was piloted under the previous govt, it saved the government N103 billion between 2010 and 2013. With full implementation from 2015, TSA had saved the government N7 TRILLION as at April 2018! Argue with facts!!

2. Voluntary Asset and Income Declaration Scheme (VAIDS). This raised the number of tax payers from 13 million in 2015 to 19.3 million in 2018.
3. Efficiency Unit of the Federal Ministry of Finance saved the govt N34 billion in Travel and Transport alone in 2017 compared to 2016

4. Efficiency Unit saved the govt N24 BILLION on Staioneries and Consumables in 2017 alone compared to 2016.
5. 5. Mrs Adeosun instituted the 22 conditions for states to get bail out funds which improved fiscal responsibility. Admittedly, this wasn’t perfect and needs more work.
6. The Development Bank of Nigeria was established and made operational.
7. The Whistleblower Policy led to the “blowing of 8,000 whistles”, which has led to 10 prosecutions, 4 convictions and the recovery of N14 billion. N440 million has been paid out to 14 people as a result.
8. Linking the BVN to the government IPPIS Payroll System has seen the uncovering of nearly 50,000 multiple salaries. These are not ghost workers but public servants collecting multiple salaries. In one case, one public servant was collecting 20 salaries!
9. Mrs Adeosun instituted the Presidential Initiative on Continuous Audit which sought to clean out the personnel records of government Minsities, Departments, agencies and parastatals. Ironically, it exposed many people with fake degree certificates who were shown the door.
10. The linking of BVN with IPPIS meant that, for the first time, we are able to identify who is benefiting from the creation of ghost workers. We now know who is collecting the salaries. More than 100 people re now being prosecuted by the EFCC for benefitting from ghost workers.

All of these where plans laid down by the GEJ's administration. What did she conjure on her own.... NOTHING