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Why Is Everybody Afraid Of Buhari's Presidency - Politics (5) - Nairaland

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Re: Why Is Everybody Afraid Of Buhari's Presidency by Nobody: 12:13am On Jun 19, 2012
[size=18pt]Buharinomics - General Buhari’s economic program marshaled out to salvage the nation in 1984
( - - - - Continued part 2)[/size]


http://www.elombah.com/index.php?option=com_content&view=article&id=5720:is-general-buhari-the-problem-with-nigeria&catid=36:pointblank&Itemid=83


To cut down on government expenses, the federal work force was cut by 30% and imports for 1984 pegged at 4 billion pounds (mostly on basic foodstuffs, spare parts, and raw materials for local industries), against 14 billion pounds spent in 1983. To ensure that Nigeria remained respectable on the international business world, Buhari committed to honoring Nigeria’s debt payment schedule irrespective of the limited earning potential of Nigeria. In August 1984, Buhari was on one of his meet-the-people nationwide tours, which he began as soon as the administration got on its feet. Everywhere he went, the people embraced him, coming out en mass and ushering him tumultuous cheers and unreserved applause.

Re: Why Is Everybody Afraid Of Buhari's Presidency by DaLover(m): 3:14pm On Jun 19, 2012
GenBuhari: ^
It is precisely because of constant non-stop lies like this, that I have been posting news archives to show those who are too young to know the truth, what the truth really is.

Abacha was one of our best presidents and Buhari had good reason not to criticise him, he in fact never actually looted and was maliciously discredited bu Obj IBB and world bank, who have since gone on to ruin Nigeria.


Abacha was one of our best presidents
WOWWWWWW are you for realll


Buhari had good reason not to criticise him
The good reason was that Abacha gave him appointment...or is there somthing else I don't know?
Re: Why Is Everybody Afraid Of Buhari's Presidency by DaLover(m): 3:20pm On Jun 19, 2012
kingoflag: May the Almighty God, who is in charge of the future and well being of the innocent children, not allow you and anyone else that chooses to tell lies and ignore the truth---- because of the evil in ur heart caused by tribalism and bigotry--- ever see peace or achieve any kind of success in life until u start telling the truth. Amen. This is the prayer I will start asking the lord for bas*tards such as urselves because I am sick and tired of people like you. You deserve to die horrible deaths because you do not mind condemning innocent people to their deaths for ur own myopic reasons. Imagine the crap u just put up there. If u were in front of me, after headbutting u, I would then go ahead and wring ur scrawny neck. He fraternized with Abacha? Oh yeah? Ok, that's one man, do u mind telling us who GEJ fraternizes with you im*becile? What's wrong with two Muslims being in charge if they are qualified? Ehn, tell me you piece of sh*it whose generations was destined for poverty? I repeat again, people like you deserve to die horrible deaths. This is why I hope that country splits because every side has a different moral code. . . . You guys are freaking disgusting. The mere fact that you can't see the truth and speak it tells it all about your kind.

I can understand how you would want to act with so much violence against somebody with a contrary opinion...afterall your mentor is a solid advocate for violence...if it doesnt happen my way...then there must be blood shed...and you dont seem to have any problem with that.....

go through my list one by one and tell me which is not true

DaLover:

This is someone who cannot say very directly without mincing words "boko harem is evil and bad". He always wants to tie it to politics.

This is someone who presently leads a tribal party

This is someone who didn't see anything wrong with two Moslems ruling Nigeria.

This is someone who situated majority of ptdf projects in northern nigeria

This is someone who fraternised with Abacha very closely....and cannot even criticize Abacha publicly......

This is someone whose party cannot presently show us the difference they brought to the leadership in the few states and LGAS they presently govern....


Please take away this tribal bigot from out consciousness....

Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 3:32pm On Jun 19, 2012
jerseyboy: Nor be this man put FELA for JAIL? Devil bend him neck.
Because Fela can't stop smoking Ganja a.k.a drugs and that is against the law.
He can't stop wearing just his pantie underwear out in the street, exposing oneself is also against the law. grin grin
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 3:39pm On Jun 19, 2012
dmainboss:

What kind of silly question is that? Be serious my friend. What we are discussing is a serious issue.

1. Buhari didnt fight any corruption. I was very much aware of that when he ruled. He was just a weak military dictator hiding behind a strong deputy. Very much like Abacha hiding behind the dark shades.
2. Strenght and weakness is not determined by a man's ability to shout and act and put up a face to deceive. It is in making tough decisions to help society and sticking to it. Much like GEJ is doing.

So sorry i wont fall for that. Try something else.
If you give all these credit to his deputy, just remember when the discussion turned to his so-called human right abuses and make sure you give the same deputy the credit too. Don't cherry pick.

1 Like

Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 3:45pm On Jun 19, 2012
dmainboss: Buhari wants total Sharia in Nigeria


http://iuhuru.com/2011/02/archives-buhari-total-sharia-nigeria/
Why didn't you reveal this top secret to Pastor Bakare, his deputy last year, that he was about to forced to become a moslem?
Okadigbo/Umezuoke, his past deputies must be so blind/stupid not to have realised this his sharia projected secret plan you kept only to yourself until now.

1 Like

Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 3:49pm On Jun 19, 2012
Riba_man: Buhari would have made a good president, but he ruined his chances with his past utterances and actions.
He was not a bad GOC in Jos, in fact he was known to be fair and straightforward. (How I take sabi? I be an ex-BB)
He has loads of baggage, e.g his fellow Hausa Fulani elites think he has an axe to grind with them, on account of how they flocked to IBB as soon as Buhari was overthrown.
Down South, the Southerners are very distrustful of him and his mien. He looks like he has agenda to pursue, an agenda that has religion and bigotry written all of over it.
The Middle Belters don't trust him at all, at all. Why He is part of a Northern establishment that specialized in using Middle Belt Officers to do their hatchet jobs. He is also viewed as one from a place that has sent the highest number of Middle Belt Officers to the gallows.
Even if the election is conducted a 1,000 times, BUharia and IBB will always lose in the Middle Belt. The reason is very simple, this zone has a very high number of retired military men who saw and/or know the so-called Buhari and IBB first-hand. It will take a non-military connected northern candidate to win the votes of the Middle belt, as things stand. Should anyone doubt the power of ex-soldiers, go and read the role of the ex WW 2 veterans in the struggle for independence in Africa and other places.
Is the above a truthful facts or just a conspiracy theory in fancy english or simply how you personally feel?

1 Like

Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 3:58pm On Jun 19, 2012
dmainboss:

I like ur assessment but will also like to add the following

I was a grown up when Buhari seized power in 1984. The guy could not even speak English well. He was from he school of elite Hausa/fulani who thought ruling Nigeria was their birthright and the fact he still wants to rule almos 30 years later is a clear proof. Please tell me who Buhari has mentored that is a leader of thought in Nigeia today. He is a selfish, self serving brat.

He came up with War Against Indispline and flogged people to stay in queues. That was a colonial era and sharia style mentality in display. Tell me, today we all stay in queues in banks and other places. Who whips us into queues? Nobody, because we dont need whip to stay in queues. We needed education and enlightenment and Buhari doesnt get it. He is from the school that believes the poor should not go to school so they can be ruled forever.

It would have been a shame if a man in the calibre of Buhari rules us in 2011. A big shame.

Are you sure you are a grown up in 1984, because you don't sound like it. Minutes ago, you claimed that it was his deputy that was ruling and now, you also with the same mouth claims that he introduced war against indiscipline and you forgot his deputy this time.
Now you que in your banks? really? Can you please extend this queing to Iddo or Ojuelegba?

1 Like

Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 4:02pm On Jun 19, 2012
olyivy: It is only nairaland GenBuhari and musiwa that can single handedly take a thread to ten pages in 2 hours!

Phew!

@Post, If buhari is better than other candidates, he woulda won.

He is simply not good enough!
So who is this best among the best you gave your vote last year?
Re: Why Is Everybody Afraid Of Buhari's Presidency by DaLover(m): 4:03pm On Jun 19, 2012
Eziachi:
So who is this best among the best you gave your vote last year?
Simple : GEJ
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 4:05pm On Jun 19, 2012
executinal: Nothing for Buhari till he join his ancestors, Nobody is afraid of him simple. Lagos state traffic jam he caused it till date, he is a man that thinks of today and doesn't care how tomorrow will be.
I thought it was his deputy that was ruling?
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 4:08pm On Jun 19, 2012
austin2002: Because the Biafrans, Yorubas,Delta people. All Educated Southern and Eastern people are tired of being ruled by cattle rearers and carmel pushers from the north.These devils have destroyed our way of living and it's time you guys go back where you guys come from afterall cattle rearers from the north do not belong to that land if we open up the history book. Look at what is going on these so called religion of peace.Yep for sure it's the religion peace. The so called Northerners have had their own share of the government and they never knew how to handle it because you cannot expect a cattle rearer to lead no matter what. You put an illiterates in the office for 50yrs what do you expect? They only thing they know how to handle well are dunkey,sheep, cow,carmel etc,
I now get it.
You have exchange a cattle rearer (a sin) for a fisherman and now everything is heaven?
It seems the same to meeeeeeee!!!!!! except that one is familiar with grazing grass and the other float on water.
By the way when you speak about Biafrans I do hope you are speaking for yourself?
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 4:16pm On Jun 19, 2012
publisher: [size=15pt]OH Get real,BUHARI IS NEVER GOING TO BE NIGERIAN PRESIDENT.
Or who's going to vote for a 70 something year old man in 2015?
If Buhari is a true leader,he's suppose to be grooming and mentoring a younger man who can be presented to Nigerians in 2015.
The hallmark of a true leader is being able to mentor younger leaders into greatness.

Obasanjo may be an A$$ according to many Nairalanders, but he has been able to mentor two people into becoming Nigeria's preseident ( Yaradua,Goodluck).
A leader who believes that ONLY he alone can effect the desired change in Nigeria (at his old age) is a stvpid 'Mugabean'. [/size] grin
The last time I checked you voted for OBJ who is in his 90s without any qualms and you are also enjoying in abundance the fruits of OBJ's school of mentorship is rolling out.
With the first graduates being Yar Adua and Jonathan. He must be very proud.
Re: Why Is Everybody Afraid Of Buhari's Presidency by Nobody: 4:17pm On Jun 19, 2012
[size=18pt]Buharinomics - General Buhari’s economic program marshaled out to salvage the nation in 1984 (- - - continued part3)[/size]


In one of his speeches to the people (this one in Owerri), he reiterated Nigeria’s commitment to honoring its debts, the dire economic situation notwithstanding. "The task of this administration is how to persuade Nigerians to understand that for a number of years to come, we would be paying debts, the roads may be long and thorny but we believe that on our shoulders lies the responsibility to save our fatherland from devastation that has resulted from mismanagement" (Newswatch, February 18, 1985).

Buhari could not have been any more correct in his statement above. Assuming Nigeria took no further loans, its breakdown of loan repayments was as follows: 3.9 billion naira ($4.4 billion) in 1985, 3.7 billion naira ($4.19 billion) in 1986, 2.8 billion naira ($3.2 billion) in 1987, until a decrease to 703 million in 1991 (Concord Weekly, May 6, 1985). Nigeria’s precarious financial situation made it impossible for it to finance capital projects and meet up its balance of payment obligations. With oil export pegged at 1.3 million barrels per day by OPEC, borrowing from external sources became necessary. To this effect, Nigeria proposed borrowing 1.795m naira to finance its capital project from the IMF. The patriotism with which General Buhari handled Nigeria’s dealings with the IMF was the highlight and beauty of Buharinomics.

In order to qualify for the loan, IMF gave Nigeria certain conditions which must be met. In 1984 when the naira exchanged for $1.34, the IMF demanded a minimum of 60% devaluation of it. Buhari refused, agreeing only to a "crawling peg"—a mechanism whereby government would realign the currency gradually, forestalling or minimizing economic and social dislocations because of such drastic devaluation of its currency. In addition to the devaluation of the naira, IMF demanded that government took other drastic actions: (a) The government must remove its subsidy on petroleum. (b) It must curtail its expenditure. (c) Government must rationalize its tariff structures. (d) It must put a freeze on its wages. (e) It must put a total end of non-statutory transfers to State governments, (f) Government must at least institute a 30% raise on interest rates—government resisted this because the decline in its revenue earnings and its debt obligations made it almost impossible to raise interest rates without triggering inflation (West Africa, May 14, 1984).

Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 4:24pm On Jun 19, 2012
GenBuhari: I do not see how educating people is a bad thing, whether you consider it spamming or not, it is still informative. It is definately a necessity in a forum where there is a lot of lies and confusion being spread, and where the majority of people are too young to know the truth.
That not education and I don't think I need any education from you. Stop posting this spams, its difficult to deal with, and its counter productive to what I knew you honestly wants to achieve by posting them, Can I say that I despise them?
I will rather you put the links.
Re: Why Is Everybody Afraid Of Buhari's Presidency by DaLover(m): 4:30pm On Jun 19, 2012
^^^
Ok the guy handsome..
Re: Why Is Everybody Afraid Of Buhari's Presidency by Nobody: 4:38pm On Jun 19, 2012
Eziachi,
You do not need the education, because you were an adult during Buhari's reign.

Can you say the same for most Nairalanders?

Do you realise that 80% of the people on this forum do not cannot distinguish between the truth and the numerous lies that are spread?
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 4:40pm On Jun 19, 2012
DaLover:

This is someone who cannot say very directly without mincing words "boko harem is evil and bad". He always wants to tie it to politics.

This is someone who presently leads a tribal party

This is someone who didn't see anything wrong with two Moslems ruling Nigeria.

This is someone who situated majority of ptdf projects in northern nigeria

This is someone who fraternised with Abacha very closely....and cannot even criticize Abacha publicly......

This is someone whose party cannot presently show us the difference they brought to the leadership in the few states and LGAS they presently govern....


Please take away this tribal bigot from out consciousness....

Stop spreading this misinformation unless you had been on holiday to jupiter, if not you didn't hear Jonathan saying that there is Boko Haram in his cabinet?
Bamanga Tukur saying that Boko Haram were fighting for justice?
The Ndume guy on trial now for sponsoring Boko Haram is a PDP bigwig? How does Buhari feature here?
What are these PTDF majority projects and you said he situated them in the north but not in his personal foreign bank account?
When the same kind of money was given to the likes of Ibori, your felow saintly southerner, he situated nothing anywhere but situated into his pocket, buying himself nice houses/cars all over the world.
Buhari is still living in his own pension built small house in Daura.
Tribal bigotry blind most of you to notice the difference between white and black. I am not a supporter of Buhari but it makes me weep for Nigeria people are so blind and used by the wicked/careless political elite to spread untruthfulness against this man. He may has his fault, I don't know, but most of the stuff said against him are not just lies but wickedness.
Nigerians, you really do know how to love your real enemies with passion.
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 4:48pm On Jun 19, 2012
DaLover:
Simple : GEJ
Really? no wonder you are now in paradise of fresh air and still moaning.
Re: Why Is Everybody Afraid Of Buhari's Presidency by Nobody: 4:49pm On Jun 19, 2012
^It is pricisely because all the lies, that I started posting archive news stories. because most people under 45 years old, have little or no memory of Buhari in government and cannot distinguish between the lies and the truth.
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 4:55pm On Jun 19, 2012
GenBuhari: Eziachi,
You do not need the education, because you were an adult during Buhari's reign.

Can you say the same for most Nairalanders?

Do you realise that 80% of the people on this forum do not cannot distinguish between the truth and the numerous lies that are spread?
Like I said, I know what you trying to do but its counter productive. Its not about being adult or a baby during the time. Just post the link, if they want to learn, they can follow the link.
Anyway, educating Nigerians, especially the wasted masses, is like wasting a precious diamond on a pig, they will still go back to what they are comfortable with- lies and to be lied to, deceit, tribalism and inconsistency. Unless you enjoy wasting your precious time, then carry on Sir.
Re: Why Is Everybody Afraid Of Buhari's Presidency by DaLover(m): 4:56pm On Jun 19, 2012
Eziachi:
Stop spreading this misinformation unless you had been on holiday to jupiter, if not you didn't hear Jonathan saying that there is Boko Haram in his cabinet?
Bamanga Tukur saying that Boko Haram were fighting for justice?
The Ndume guy on trial now for sponsoring Boko Haram is a PDP bigwig? How does Buhari feature here?
What are these PTDF majority projects and you said he situated them in the north but not in his personal foreign bank account?
When the same kind of money was given to the likes of Ibori, your felow saintly southerner, he situated nothing anywhere but situated into his pocket, buying himself nice houses/cars all over the world.
Buhari is still living in his own pension built small house in Daura.
Tribal bigotry blind most of you to notice the difference between white and black. I am not a supporter of Buhari but it makes me weep for Nigeria people are so blind and used by the wicked/careless political elite to spread untruthfulness against this man. He may has his fault, I don't know, but most of the stuff said against him are not just lies but wickedness.
Nigerians, you really do know how to love your real enemies with passion.

Buhari features here because he has the support of the almajiri, and if he mobilises them, they will root out the boko harem,...but he prefers to be quiet, and see how boko harem will chase away GEJ so he can control the oil resources....I have not seen how spectacularly he is handling CPC, or the states and LGAs he controls...he want to be president and the lives that are lost don't matter....what matters is to get his hands on the oil money...by hook or crook
Re: Why Is Everybody Afraid Of Buhari's Presidency by honeric01(m): 4:59pm On Jun 19, 2012
GenBuhari: Eziachi,
You do not need the education, because you were an adult during Buhari's reign.

Can you say the same for most Nairalanders?

Do you realise that 80% of the people on this forum do not cannot distinguish between the truth and the numerous lies that are spread?

Nigerians have been programmed on self-destruct so there's nothing you can do to save them, they love lies so let them enjoy their reward.
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 5:09pm On Jun 19, 2012
DaLover:

Buhari features here because he has the support of the almajiri, and if he mobilises them, they will root out the boko harem,...but he prefers to be quiet, and see how boko harem will chase away GEJ so he can control the oil resources....I have not seen how spectacularly he is handling CPC, or the states and LGAs he controls...he want to be president and the lives that are lost don't matter....what matters is to get his hands on the oil money...by hook or crook
Ethnicity, tribal lineage and face facts, you will be in a real mind set when you finally figure out your real enemies.
What does the word almajiri means?
Boko Haram was there when Yar Adua was in-charge. Wasn't it?
Jonathan claimed to be with Boko Haram inside the same cabinet (His own claim, not mine)
Jonathan claim to know the sponsors. Boko Haram is equal PDP, so its dog eat dog. Its PDP /boko haram that is chasing him away.
CPC is a political party and not limited liability company of Buhari.
What are about the lives lost in Akwa Ibom during the same election period? Who is responsible? How many lives and property lost? Still people like you seem to pick and choose lost lives that suits propaganda project of owners of Nigeria.
Wake up! And stop being a slave to project one Nigeria by the elite and for the elite.
Re: Why Is Everybody Afraid Of Buhari's Presidency by DaLover(m): 5:15pm On Jun 19, 2012
Eziachi:
Ethnicity, tribal lineage and face facts, you will be in a real mind set when you finally figure out your real enemies.
What does the word almajiri means?
Boko Haram was there when Yar Adua was in-charge. Wasn't it?
Jonathan claimed to be with Boko Haram inside the same cabinet (His own claim, not mine)
Jonathan claim to know the sponsors. Boko Haram is equal PDP, so its dog eat dog. Its PDP /boko haram that is chasing him away.
CPC is a political party and not limited liability company of Buhari.
What are about the lives lost in Akwa Ibom during the same election period? Who is responsible? How many lives and property lost? Still people like you seem to pick and choose lost lives that suits propaganda project of owners of Nigeria.
Wake up! And stop being a slave to project one Nigeria by the elite and for the elite.

Stop beating around the bush...

With the ground level support Buhari claims to have in the north...can he mobilise popular sentiment of the average hausa-fulani man against the boko harem scourge or not?
I believe he can...but because he wants his hands on the oil money...he wont...you are the one viewing things from a myiopic point of view.
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 5:26pm On Jun 19, 2012
DaLover:

Stop beating around the bush...

With the ground level support Buhari claims to have in the north...can he mobilise popular sentiment of the average hausa-fulani man against the boko harem scourge or not?
I believe he can...but because he wants his hands on the oil money...he wont...you are the one viewing things from a myiopic point of view.
The same guy you claimed Jonathan beat or ran neck to neck in the north?
Is he the commander in chief of the armed forces or the chief security officer as they are called?
Is majority of the governors, senators, reps and big wings from north not all PDP?
You still consider it Buhari's job to stop Boko Haram? on what ground?
The same man you claimed to be weak in govt, now you want him to act as tiger outside power and stopBoko Haram for you bare-handed?
That is what is beating about the bush means and inconsistency.
Jonathan/PD/inec claimed he won many parts of north including Buhari own backyard in Katsina, so let Jonathan mobolize that millions that voted for him in the north.
Or are they all dead?
Free your self from this slavish mentality and use your God's given brain and not tribal or sectional laden brain.

2 Likes

Re: Why Is Everybody Afraid Of Buhari's Presidency by DaLover(m): 5:31pm On Jun 19, 2012
Eziachi:
The same guy you claimed Jonathan beat or ran neck to neck in the north?
Is he the commander in chief of the armed forces or the chief security officer as they are called?
Is majority of the governors, senators, reps and big wings from north not all PDP?
You still consider it Buhari's job to stop Boko Haram? on what ground?
The same man you claimed to be weak in govt, now you want him to act as tiger outside power and stopBoko Haram for you bare-handed?
That is what is beating about the bush means and inconsistency.
Jonathan/PD/inec claimed he won many parts of north including Buhari own backyard in Katsina, so let Jonathan mobolize that millions that voted for him in the north.
Or are they all dead?
Free your self from this slavish mentality and use your God's given brain and not tribal or sectional laden brain.
Solved....GEJ won so let boko haram deal with him....thanks for the usefull contributions
Re: Why Is Everybody Afraid Of Buhari's Presidency by Eziachi: 5:56pm On Jun 19, 2012
DaLover:
Solved....GEJ won so let boko haram deal with him....thanks for the usefull contributions
SUDDENLY YOU'RE LOST FOR WORD?
Let GEJ mobilise the millions that they claimed voted for him in places like Yobe against Boko Haram.
They can't be all dead, don't expect the person you labelled as unpopular man Buhari to mobilise a majority population that hated him.
That is call common sense.

1 Like

Re: Why Is Everybody Afraid Of Buhari's Presidency by DaLover(m): 6:01pm On Jun 19, 2012
Eziachi:
SUDDENLY YOU'RE LOST FOR WORD?
Let GEJ mobilise the millions that they claimed voted for him in places like Yobe against Boko Haram.
They can't be all dead, don't expect the person you labelled as unpopular man Buhari to mobilise a majority population that hated him.
That is call common sense.

CPC won in 12 nothern states, I tot you said you were not tribal? You can see now that burahi cannot rule this country..he is a tribal champion...
Re: Why Is Everybody Afraid Of Buhari's Presidency by ladylucky: 11:48pm On Jun 19, 2012
WE DO NOT WANT BUHARI. Nigeria has spoken pls stop giving us a headaoche abeg. This is democracy a govt by the pple for the pple. We chose Jona pls deal wit it. Na by force. If he must rule let him form almjiri republic of buhari, but as loong as SE/SS/SW n middlebelt r in nigeria he has said his farewell to aso rock. even Tinubu knows Buhari cant win in 2015. Stop giving us headache abeg u guys might as well campaign for MR Ibu he stands a better chance of winning.

1 Like

Re: Why Is Everybody Afraid Of Buhari's Presidency by Detongue: 12:36am On Jun 20, 2012
Who will not b afraid of a VAMPIRE
Re: Why Is Everybody Afraid Of Buhari's Presidency by Nobody: 2:58am On Jun 20, 2012
[size=18pt]Buharinomics - General Buhari’s economic program marshaled out to salvage the nation in 1984 (- - - continued part 4)[/size]

The Nigerian government and veteran economists in Nigeria (like Aluko, Onosade, Okigbo, etc) could not make sense of being asked to devalue its currency when Nigeria’s imports were in dollar and its export (fixed quantity of oil) was also in dollar. The implication of devaluation was that Nigeria would pay more to import lesser quantity of goods than it did prior to any devaluation. It would also export the same amount of oil it exported before any devaluation and derive lesser revenue than it received before any devaluation The impacts of it debt payment would have harsher effect on the citizenry if the naira was devalued. This did not make any economic sense to Buhari; it struck him as an insult on the intelligence of the African. Finance Minister Onaolapo Soleye and Alhaji Abubakar Alhaji who led the Nigerian delegation to the last negotiation in Washington were chewed out by US Federal Reserve Chairman, Paul Volcker, for presenting the Nigerian governments rejection of most of these recommendations.

For rejecting the IMF conditions and the loan, the Buhari administration got into the black book of Washington. Already, it had earned the dislike of 10 Downing Street for cutting down Nigeria’s imports from the UK by about 350%. In any case, without the IMF loan, government was still in a bind as to how to finance capital projects and pay for imports, especially spare parts for local industries, food items, etc. At this juncture, the genius and resourcefulness of Buharinomics illuminated to the delight of the African.

First, the administration sent Oil Minister Tam David West to OPEC to seek a raise in the quantity of oil that Nigeria could export. If OPEC agreed, Nigeria would expect to generate extra revenue in the long run from any increase of its oil quota and this would assist tremendously in augmenting the shortfall in the nation’s purse. Professor West came back empty handed—the US and Britain had put pressure on their puppets in OPEC (like Saudi Arabia) to refuse Nigeria’s request.

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