Dpharisee:
Since nobody is willing to borrow us more money to pay salaries, the FG has resorted to printing paper and calling it money which is not backed up by commensurate commodities and services, the after effect is the ongoing spiralling inflation. In the past when you are broke you go and drink Garri to hold belle, today Garri is more expensive than peppered Suya.

When Igbos were screaming that Buhari will run down the economy we castigated them out of tribal and religious sentiments.
Their reasons been that a man who left office in 1984 and didn't establish a single business, not even an ordinary Zobo or Kunu processing factory, did not belong to the board of any company, did not start a foundation even if it's for Almajiri or nomadic education for his Fulani tribesmen to engage in modernized ranching, did not even use his spare time to write a single book can never handle an economy like Nigeria with 200m citizens, now I can see that they have been right all along as me that is writing have just lost my job, I open Nairaland as a way of reducing pressure and removing my mind from my current situation.

I can't even go to farm now which used to be the last resort if you are unemployed as herdsmen destroy crops in my area unchallenged due to fear that they could trace your house at night and inflict harm.

As a way of generating revenue the already over taxed residents of Abuja have just been informed about the commencement of Park & Pay scheme in every street of the city for vehicle users in addition to the hundreds of VIO and LG revenue collectors roaming all over the city even with fewer new businesses opening to employ the teeming youths.
Many big people are quickly buying and storing their money in domicialiary Dollar accounts, so what happens to the average citizen whose money in Naira is losing value daily?
Which way Nigeria?

that's the pattern of Islamic countries!!!!

PataAlhajaKeji:


How did Buhari run down the economy?

Pray, tell me.

Is he the cause of of the dwindling oil revenues? Did he cause COVID-19?

Talking about diversification to other sources of revenue like agriculture, solid minerals mining, gas exploration, utilization and export, I will definitely score his government high.

Majority of the world economies are presently passing through economic and financial quagmire instigated by COVID-19 and dwindling oil revenues. Why should Nigeria be an exception?

If the country was moving well, and security issues was well attended to, you would have said, Buhari is doing well and improving the status of the nation.

But now that things are bad, you are trying to shield him from the issues on ground, while he is still the father of the nation.

The truth of the matter is, once you are the head of an institution, the rise and fall of the body is solely on your conscience.

Whether you accept it or not, it doesn't matter.

You don't come out and say "it's my effort which has brought the good results and then you celebrate. And if the results are bad, you start heaping blames and counter-blames on the past administration."

Minjim:
I just don't know the word to describe this Buhari.
He is bereft of ideas and he won't accept advice from anyone other than those from the North.

This is what happen when you have a Northerner as Minister of Finance.

She is not even qualified to work in any department of a Financial institution.

The sad thing is that, las las, they will steal money and go. Then the masses will suffer it

OH Do we still have a minister for Finance and Economic planning?
I dont think i have heard anything from that office in the past 6 yrs of buhari.
I pity this country called Nigeria.

PataAlhajaKeji:


How did Buhari run down the economy?

Pray, tell me.

Is he the cause of of the dwindling oil revenues? Did he cause COVID-19?

Talking about diversification to other sources of revenue like agriculture, solid minerals mining, gas exploration, utilization and export, I will definitely score his government high.

Majority of the world economies are presently passing through economic and financial quagmire instigated by COVID-19 and dwindling oil revenues. Why should Nigeria be an exception?

The only good things u are talking about is exploitation of solid minerals and Rail infrastructure. Agriculture is only skewed to favour the north, herdsmen are making life difficult for farmers here in SW, I was a victim and never in my Life I will spend a dime on anything farming, his Government lack effective economy policy. Look at the security, is this how he met it?? Alot of company were packing to neighbouring countries due to bad economy policy and insecurity. There was no covid19 wen we experienced first recession, inflation was around 16.1% at the last quarter of 2020 and now around 18% in 2021 which is a very dangerous trend. The fact is that if federal government failed to embark of constitution amendment and fully set the mechinery in motion to start Fiscal federalism this country will collapse in due time. El rufai practically disengaged 4,000 civil servant and I can assure u in coming months other governors will follow the trend all because he spend too much on recurrent expenditure and their is no means to do that rather than to retrenched the workers.

We need Fiscal federalism

We need slashing of jumboo allowances in all arms of Government across board (first thing Uhuru kenyata did wen he assumed office in Kenya)

Disengagement of unnecessary Government official aids, some Governor have almost 1,500 aids practically doing nothing and receive allowances every month.

Total overhauling of NASS, they award millions of Naira to themselves all in the name of allowances and they were collecting their money independently from federation account every month, just imagine those billions of Naira been wasted away without no economy input.

The basic fact is that if we are continuing like this, no future for this country but my biggest problem is that our Leaders and major stakeholders don't believe we av problem or they take it with Levity.

Fix the problem of power and insecurity which is fundamental, this will automatically boost industrialization and reduce unemployment, it's not a magic we can achieve it if we av a sincere leadership.

PataAlhajaKeji:


How did Buhari run down the economy?

Pray, tell me.

Is he the cause of of the dwindling oil revenues? Did he cause COVID-19?

Talking about diversification to other sources of revenue like agriculture, solid minerals mining, gas exploration, utilization and export, I will definitely score his government high.

Majority of the world economies are presently passing through economic and financial quagmire instigated by COVID-19 and dwindling oil revenues. Why should Nigeria be an exception?

Same nonsense you said it 2018 before Covid19 came.. same nonsense you will say in 2023 after Covid19.
suffer no dey tire you?
Buhari that spent billions looking for a non existent oil in lake Chad.
Same Buhari that under him thousand are living agriculture due to insecurity?...
If you are scoring Buhari govt high in any of those you Listed then I make a bold claim to say .. you're as dull as the dullard.

This man have not said anything in my opinion, just some hulabalu, what does he mean government should increase local output and bring sensible policies.

The challenge I see with most Nigerians is that they love highlighting problems without commensurate solutions. Government should do A, B and C. That's how to talk not making Randy old statements, oil revenue is less than 50% of the revenues generated in the country yet he still thinks we are oil dependent. What an analyst.


@Dpharisee
You have highlighted serious issues anyways, absolutely it's a leadership problem in this country and making strategic inputs that will better the live of citizens. I wrote something on that here - https://www.nairaland.com/6467998/bold-solution-nigerian-woes

I foresee more hardship if good economic policies are not put in place, for me I've started building shields against this recklessness in the implementation of policies that strangles the average Nigerian. It is well God will help us.

Dpharisee:
Since nobody is willing to borrow us more money to pay salaries, the FG has resorted to printing paper and calling it money which is not backed up by commensurate commodities and services, the after effect is the ongoing spiralling inflation. In the past when you are broke you go and drink Garri to hold belle, today Garri is more expensive than peppered Suya.

When Igbos were screaming that Buhari will run down the economy we castigated them out of tribal and religious sentiments.
Their reasons been that a man who left office in 1984 and didn't establish a single business, not even an ordinary Zobo or Kunu processing factory, did not belong to the board of any company, did not start a foundation even if it's for Almajiri or nomadic education for his Fulani tribesmen to engage in modernized ranching, did not even use his spare time to write a single book can never handle an economy like Nigeria with 200m citizens, now I can see that they have been right all along as me that is writing have just lost my job, I open Nairaland as a way of reducing pressure and removing my mind from my current situation.

I can't even go to farm now which used to be the last resort if you are unemployed as herdsmen destroy crops in my area unchallenged due to fear that they could trace your house at night and inflict harm.

As a way of generating revenue the already over taxed residents of Abuja have just been informed about the commencement of Park & Pay scheme in every street of the city for vehicle users in addition to the hundreds of VIO and LG revenue collectors roaming all over the city even with fewer new businesses opening to employ the teeming youths.
Many big people are quickly buying and storing their money in domicialiary Dollar accounts, so what happens to the average citizen whose money in Naira is losing value daily?
Which way Nigeria?

Bro I'm beginning to think Ibos should be employed as advisers in all institution. Those guys can really see future. I don't if it bc they are into business or God speaks to them. They are doing well in terms of diving into the future

Antoeni:
The Present CBN Governor, Is The Most Dullest of All CBN Governors to Have Emerge .
Charles Soludo I hail Ooo

It not that he is the dullest but our president's hotspot it on and u know his status in dullity nah

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0 8 0 8 6 3 7 3 0 1 2

Buhari is really working overtime to destroy the country

Terrible

The only thing that makes me worry is that I am yet to step out of the zoo. Once I do I`ll not waste my precious mind to worry about this damned country and its politicians.

Even the politicians and government workers knows say the country go soon scatter,
So na to pack what you can now..
Steal all you can and move your family abroad...
Oil is gradually loosing value...
Very soon they won't be able to pay salaries to workers including police and armed forces...
War and anarchy is looming...

PataAlhajaKeji:


How did Buhari run down the economy?

Pray, tell me.

Is he the cause of of the dwindling oil revenues? Did he cause COVID-19?

Talking about diversification to other sources of revenue like agriculture, solid minerals mining, gas exploration, utilization and export, I will definitely score his government high.

Majority of the world economies are presently passing through economic and financial quagmire instigated by COVID-19 and dwindling oil revenues. Why should Nigeria be an exception?

@bolded - what are you saying this man, if you are a father bkos other families are struggling it's then okay for your family to struggle? Abeg leave that thing.

Buhari's government have made good plans and there's evidence of diversification, my challenge is with how they implement these policies, there is no strategic approach to it.

Look, there are two things that brings a country out of poverty.

1. Economic prowess - industrialization is the key here in 2015 his administration should have revived ajeokuta steel plant and facilitated the growth of industries that will develop items that the west African peninsula would need and sell to them, bkos we play strategic roles in this region, we would use our influence to make sure they buy, these could be items ranging from military vehicles, sales of steel plates, vessels etc. (These are items we currently produce in the country FYI)

Equally his administration should look into the production of items we have in abundance which we could convert into finished products and through the (African Continental Free Trade Area) ensure it sells like mad with strategic concession to countries so that they buy. I know it's easier said than done, but look thinking is not what we need now what we need now is strategic thinking that will help internal growth and make us global players let me stop here before I type too much.

2. Military and intelligence superiority - this is that ability of a country to identify, isolate and contain threats before they happen or even when it does, they contain it quickly and bring relative peace. Well equally let me stop here, there's a lot to type here.

Dharniel600:
from the very beginning of this Government, Buhari supporters will always put it the blame on something else. Just look around the country and tell me if the situation of this country is not worrisome. You will also blame the insecurity of this country on covid 19? You people should enjoy.

The situation of the country has always been worrisome, even prior to Buhari.

Why heap all the blame on Buhari?

The old nigger has failed when it come to security of lives and properties, though.

StaffofOrayan:


Hehehe
Are you really dumb or playing dumb?
There is no diversification hence the govt is pan in hand broke, so they have resorted to printing paper, now you are too slow to realize that any money you have saved in any Nigerian bank is slowly but surely losing value, because the paper being printed has no value!
At this stage if you are still thinking APC and PDP then you are sick in the damn head

Where did I mention PDP or APC in my submission?

E be like say you want make Sango strike you dead.

PHijo:


If you don't know how he destroyed the economy then explaining that for you may be near impossible!

1. The delay in appointing a cabinet for 6 months
2. Appointing at best mediocre ministers
3. Starting an unnecessary ego driven confrontation with Niger Delta militants
4. Making tanker vessels owners see Nigerian ports as less secure through his policy that could make them lose their tankers under the pretext of fighting illegal bunkers
5. Assuming the role of CBN governor, petroleum minister and president.
6. Failure to remove fuel subsidy in 2015/2016
7. Abuse of power that made foreign investors feel their investments could be stolen
8. Failure take advantage of the relationship Nigeria had with countries like America and China to her advantage
9. Increasing recurrent expenditure
10. Supporting his Fulani Fulani kinfolk in all their crimes, this reducing Nigeria's agricultural output
11. Citing projects through his mindset that is driven by bigotry, thereby robbing Nigeria of potential revenue
12. Failure to address issues as if they are urgent
13. Refusal to redirect his wrong steps
14. Increased focus on revenue generation instead of income generation
15. Hostile attitude towards investment, trade and capital

The list of his failures is endless. A pandemic is not an excuse, the primary problem is Buhari. There are lots of things Nigeria could have done differently if she had the right kind of leadership.

The issue is not CBN printing money, the issue is what it was used to do. If it was used to boost non-oil exports or reduce Nigeria's reliance on imports for many things that could be produced locally that would have been understood.

I almost forgot their multiple USD rate!

This government is not not just an embarrassment to Nigeria, it is an embarrassment to the entire Black race.

Even if he didn't do all you listed there, the economy would still remain as it is today.

A lot of you guys are so dumb to realize that Nigeria is broke. Our major foreign exchange earner is being bedevilled by glut in the oil market and the Corona virus pandemic. Where do you guys expect the country to earn money from?

If dem increase VAT and CIT now, una go still blame Buhari.

I taya for una o.

Even if Jesus comes down to rule Naija, the economy no go improve. Nigeria is a poor country as it stands.

xorojinxx:


If the country was moving well, and security issues was well attended to, you would have said, Buhari is doing well and improving the status of the nation.

But now that things are bad, you are trying to shield him from the issues on ground, while he is still the father of the nation.

The truth of the matter is, once you are the head of an institution, the rise and fall of the body is solely on your conscience.

Whether you accept it or not, it doesn't matter.

You don't come out and say "it's my effort which has brought the good results and then you celebrate. And if the results are bad, you start heaping blames and counter-blames on the past administration."

A lot of European countries are presently in recession. Does it mean their leaders are incapable?

Some things are just beyond control. Like a Force Majeure or something. SMH.

AnonPoet:



https://m.facebook.com/story.php?story_fbid=10221927761916568&id=1034960068&sfnsn=scwspwa

Na U.K them dey print una money. They spend money to print money.

OK...they finally took our Jagabans advice to print more money,...jagaban is wise so we shouldn't be worried

PataAlhajaKeji:


Even if he didn't do all you listed there, the economy would still remain as it is today.

A lot of you guys are so dumb to realize that Nigeria is broke. Our major foreign exchange earner is being bedevilled by glut in the oil market and the Corona virus pandemic. Where do you guys expect the country to earn money from?

If dem increase tax now, una go still blame Buhari.

I taya for una o.

Even if Jesus comes down to rule Naija, the economy no go improve. Nigeria is a poor country as it stands.

If anyone is dumb it is you! Crude oil has remained the major foreign exchange earner because of dumb people like you. My people in the Niger Delta suffer all sorts of abuse and environmental issues because of crude oil addicts like you.

Fixing the economy does not require rocket science. Once a president has the support of critical groups in the society he can get that done. Buhari had support or at least those who opposed him gave him chance to succeed but he refused to succeed or lacks the ability to succeed.

A market driven exchange regime would bring in the much needed foreign exchange in the short term. In the medium term what he had to do was to remove fuel subsidy, use those gains from fuel subsidy removal to support electricity generation, decentralize power distribution. Commercialize NNPC's JVCs or privatise NNPC itself. Make sure the roads to ALL PORTS are functional. Reduce bottlenecks at ports.

Reading down the comments I am so shocked at the level of ignorance of basic economics being displayed by the so called "future of Nigeria"!

This President of Destruction should be impeached already!

It is no longer an issue of party loyalty, but the only patriotic thing this foolish NASS can do to save this nation.

Politicians has damaged Nigeria economically.

One day Nigeria will become like Venezuela, Argentina or Zimbabwe where one loaf of bread is sold at N1,000.00

LEADERS IN NIGERIA SHOULD NOT POLITICISE THE ECONOMIC REALITY THAT NIGERIA IS FACED WITH.

Rather there should be a change of method to address Nigeria economic problems.

Many of these methods to address Nigeria 's economic problem had been expressed in the social media in the past..

COST OF GOVERNANCE IN NIGERIA IS VERY HIGH: There should be a drastic cut in the cost of governance.

AGRICULTURE/SOLID MINERALS: Nigeria must explore agriculture and solid minerals to general revenue.

RESTRUCTURING: Each state in Nigeria must produce a products that can generate revenue rather than wait for federal allocation from Abuja

DEVOLUTION OF FEDERAL POWERS: The federal government must devolves powers to the states to grow on their own strength.

Most of the items on the concurrent list must be taken away.

PHijo:


If anyone is dumb it is you! Crude oil has remained the major foreign exchange earner because of dumb people like you. My people in the Niger Delta suffer all sorts of abuse and environmental issues because of crude oil addicts like you.

Fixing the economy does not require rocket science. Once a president has the support of critical groups in the society he can get that done. Buhari had support or at least those who opposed him gave him chance to succeed but he refused to succeed or lacks the ability to succeed.

A market driven exchange regime would bring in the much needed foreign exchange in the short term. In the medium term what he had to do was to remove fuel subsidy, use those gains from fuel subsidy removal to support electricity generation, decentralize power distribution. Commercialize NNPC's JVCs or privatise NNPC itself. Make sure the roads to ALL PORTS are functional. Reduce bottlenecks at ports.

"Fixing the economy does not require rockect science ..."

Fix am na!

You must be smarter than the CBN Governor and guys like Professor Soludo, Professor Doyin Salami and Birsmark Rewane, members of the presidential economic advisory team. Abi you think say dem dey sleep.

If I ask you what should be done to better the economy, I'm sure you will go numb.

Nigeria is broke and poor. No matter the economic expertise of the leaders, poverty go still dey everywhere, no thanks to our overpopulation.

Market driven exchange rate? So you can further blame Buhari when the dollar goes as high as 900 Naira. Or you don't know the mixed exchange rate regime is why average Nigerians can buy dollar at a cheaper CBN rate for their BTAs and PTAs.

You no get sense at all.

PataAlhajaKeji:


Where did I mention PDP or APC in my submission?

E be like say you want make Sango strike you dead.

Yeah you can only unleash your impotent anger on your fellow citizens, but to you the govt is doing well, Olofo eda

nnamdi640:
That is what you get when you elect a dullard to be the president of a country like Nigeria. Zombies have not seen anything yet, soon they will ask us to give out part of our money in the bank in order to save this nation, meanwhile the dullard is somewhere in London wasting our money. What the so called 5% saw then is now gradually becoming a nightmare to the 95% that voted for him.

97%

Yusufisraelj:


@bolded - what are you saying this man, if you are a father bkos other families are struggling it's then okay for your family to struggle? Abeg leave that thing.

Buhari's government have made good plans and there's evidence of diversification, my challenge is with how they implement these policies, there is no strategic approach to it.

Look, there are two things that brings a country out of poverty.

1. Economic prowess - industrialization is the key here in 2015 his administration should have revived ajeokuta steel plant and facilitated the growth of industries that will develop items that the west African peninsula would need and sell to them, bkos we play strategic roles in this region, we would use our influence to make sure they buy, these could be items ranging from military vehicles, sales of steel plates, vessels etc. (These are items we currently produce in the country FYI)

Equally his administration should look into the production of items we have in abundance which we could convert into finished products and through the (African Continental Free Trade Area) ensure it sells like mad with strategic concession to countries so that they buy. I know it's easier said than done, but look thinking is not what we need now what we need now is strategic thinking that will help internal growth and make us global players let me stop here before I type too much.

2. Military and intelligence superiority - this is that ability of a country to identify, isolate and contain threats before they happen or even when it does, they contain it quickly and bring relative peace. Well equally let me stop here, there's a lot to type here.

You're just typing nonsense English.

No economy can survive destruction of pipelines and covid 19. Especially a mono economy like us.

If you like go and bring the best economists from Europe and America.

We have to suffer now for refusing to diversity and grow our economy since 30 years ago.

How dem wan use attract foriegn investors wen na dem be banits

edoairways:

What you see is paper diversification

Every time agriculture. If agriculture under this govt is doing great then why has the prices of garri, maize, rice, beans, sorghum, plantain, palm oil, yam, fruits, poultry feed gone up.

If mining is doing well, why is it not reflecting in the revenue and job creation. Zamfara mines gold and pockets the proceeds, dangote mines limestone and increases cement to an all time high.

StaffofOrayan:


Yeah you can only unleash your impotent anger on your fellow citizens, but to you the govt is doing well, Olofo eda

Obo iya ẹ!

OBASEKI SHOULD JOIN HIS FELLOW GOVERNMENTS AND LEGISLATURES TO REMOVE BUHARI AND FIGHT HIM TO A STANDSTILL TO LISTEN AND GOVERN WELL.