₦airaland Forum

gassdon:
What do you expect from a man that has only mud houses in 21st century as assets.

PMB inherited mud houses from his late father and elder and he is proud to keep those Legacy Assets.

But because you have been blinded by prejudice & hatred, you did not see the other assets in Katsina, Kaduna & Abuja that he also owns.

sunnyb0b0:
The buck stops at his table. He takes d credit and d blame.

Meanwhile, his foreign exchange control policy is so 12th century.

But you have not given him any credit thus far.

You should find out why countries like Switzerland and China intervene in their foreign exchange market to keep their currencies appropriately priced.

sunnyb0b0:
Kachikwu has come out openly to say fuel subsidy should go and that he would have sold the refineries but for Buhari’s refusal.

Buhari is not good at formulating economic policies.

Just because PMB disagrees with specific policies, does it mean that he micromanages NNPC?

PMB believes that the Naira should not be devalued further, does that mean he micromanages CBN?

If an appointee of the president makes a good policy, the appointee takes credit but if he makes a not so good policy, It's the "dullard" that takes the blame.

dexpee4life:
There is always an excuse by the Presidency

And there is always something to blame the Presidency.

sunnyb0b0:
The policy was not formulated by Kachikwu. It's PMB's brainchild.

Buhari has overruled most of Kachikwu's proposals like selling off tge refineries and stopping fuel subsidy.

Which leads me to believe that even if PMB appoints Ministers, you will still accuse him of overruling them.

No matter what PMB does, you will find reasons to fault him.

Ebubeslym:
The difference between six and half a dozen is in our minds......

Welcome to reality Baba.

I agree. For instance, one can choose to see that Foreign Reserves has increased under PMB from $28b+ to $30b+ or one can choose to see that it has reduced from a peak of $31b+ to $30b+.

Emekamex:
->Buhari should stop interfering with economic policies, that is not his work to do; rather, his ministers and advisers are the ones solely responsible for this.
->I have observed that Buhari is trying to convert Nigeria into a socialist country, and from lessons learnt from others that have practiced it, we all know that socialism doesn't grow an economy.
->Countries in modern time are trying to become purely capitalistic at the same time Nigeria is hurriedly depreciating into socialism. It is quite worrying to say the least.

If the ministers and advisers are responsible for policies, why do you now blame PMB for a policy formulated by the GMD-NNPC.

Most countries have political parties that are driven by socialist & capitalist ideologies. The US has Democrats (S) & Republican (C). The UK has Labour (S) & Conservatives (C). Nigeria has APC (S) & PDP (C).

The difference in ideologies of these parties provide balance in the system. They both have their advantages & disadvantages, and the electorate will tend towards one depending on the exigencies of the time.

ishiamu:
Premium times confirmed it was official too so?

My point is that the story could not have been sponsored by the Presidency or APC. So blaming them for an opinion of a newspaper on the Nigerian Mission is misplaced.

I don't get why PMB or APC is being lampooned here. The Presidency came out to offer an explanation on why they missed the meeting, claiming that the meeting was not official and important.

The Cable newspaper later comes out with a story saying that the Presidency lied, and they presented facts that the meeting was not just official but also strategic to Nigeria's interest. They then claimed that the Nigerian Mission in the US jumbled up the president's itinerary that caused him to miss the meeting.

Folks are now only focusing on the part of the story that blamed the Nigerian Mission, just so that they can have something to criticize PMB and APC. Now they have put a name (Joy Ogwu) on it to sensationalize it even more.

Nobody is talking about the part of the story that said that the Presidency LIED. Or did they also sponsor that negative propaganda? That was a newspaper report and should simply be taken as such, nothing more.

Very alarmist article.

First and foremost, the writer assumes that each station employs about 20 persons. Secondly, the writer assumes that if the NNPC pulls off from the stations, then they will automatically stop operations. These were stations owned by independent marketers but merely enjoyed franchise from NNPC.

The New GMD has seen that the licensing of these stations didn't follow due process, and also the distribution of products to these stations is fraught with corruption.

“Once the President and the Senate leadership sit on a round table with a resolve to re-oil the wheels of democracy for national progress....”

If the President can meet with the HOR Speaker more than once and yet completely fence off the Senate President for over 4 months, then it's not difficult to see where the President stands on the issue of the current Senate leadership.

laudate:
Are you saying it is impossible for them to build the institutional capacity, or put in place surveillance systems?? Mr. Open mind, please tell us what would happen to the remaining 480 stations that would be shut down once NNPC revokes their licenses, and how the after-effects of fuel queues and scarcity would be mitigated once these stations, stop their operations!

Maybe they can build such institutional capacity and maybe they cannot. It all depends on whether such investment is consistent with their strategic business model.

I cannot speculate on what would happen to the 480 stations, however, it is my guess that they might be sold to independent marketers. This way, products to these stations will be subject to the same conditions as with other independent marketers, and not the current system which is fraught with corruption along the cycle.

kindly ignore the "Open Mind" jab.

laudate:
Can you imagine??! This decision is stupidity with a capital 'S'.

Instead of stepping up surveillance and using tracking systems that can be monitored remotely to prevent fuel diversion by the oil marketers, as well as increasing DPR's powers of enforcement, they want to scrap 500 petrol stations! A move that will lead to fuel scarcity in many areas, and will bring back the queues.

Not only that, the existing 20 stations will now engage in hoarding or round tripping in order to make more money! smh... _*chai*

Maybe if you read the article with an open mind, then you would have found the quote "How do you grow from 20 to 500 in two years without institutional supports?"

Obviously, the NNPC never had the capacity for such surveillance as at the time they were giving out these licenses indiscriminately.

Dear President, enough of the media trials already. Please get me a competent Attorney General who will start prosecuting these criminals immediately. While you are at that, also get me a competent Finance Minister & Economic Team to properly articulate government Fiscal Policies.

Now that we've heard the truth about how the Nigerian Mission in the US embarrassed you and the country by jumbling up your itinerary, can you please come back home and immediately send your Ministerial list to the National Assembly for screening.

The population of Singapore and Hong Kong are 5.5m and 7.2m respectively. Yet they have total exports of $415b and $438b respectively. This translates to Export per Capita of approximately $75k and $60k.

Nigeria (even at $60 oil price and production level of 2m bbls/day) will have total export of less than $50b. With a population of about 170m, this translates to Export per Capita of approximately $300. Giant of Africa indeed!

Our creative and productive capacities have been thrown to the dogs. This is what you get when a society promotes & celebrates cheap wealth without hard work. When a society promotes corruption & Impunity, then young persons won't believe in hard work anymore - especially when politicians "make" more in a month than you will earn in a lifetime.

If this were to be in Nigeria, we would be throwing tantrums on the president.

engineerboat:
It takes him 4 months to complie saints ministers list, now you want Senate to sreen them for two days, very very funny indeed,

No need to send the names to the senate for approval then, if you are trying to force the senate to approve the list under duress of announcement october 1st promise

We are watching, we are watching

And where was it written that he intends to force the NA to approve the list? He said the list will be ready by September 30. It's up to the NA to decide when they screen and approve the ministers to start working.

criminalmindz:
WHO SAY BUHARI NO DEY FEAR?
THE ALLISONS VS BUHARI
"Why Has Buhari and His APC Attack Dogs Quietly Retreated From Attacking Diezani Alison-Madueke?What does Buhari want to be kept a secret concerning his cowardly withdrawal from the media lynching of the former Petroleum Minister and first female OPEC President?As you may be aware, Alison-Madueke's husband is Rear Admiral Allison Amaechina Madueke, a retired Nigerian naval officer. He was military governor of Anambra State from January 1984 to August 1985, and then of Imo State until 1986.The husband of the former Petroleum Minister is a retired General just like Buhari and the whole attacks on his wife by the APC finally came to a head about a month ago.Madueke booked an appointment to see Buhari and Buhari was happy to see him thinking he wants to come and beg, so they can carry news of their meeting as propaganda as this irresponsible government often does.When he got to Aso Rock, Madueke warned Buhari over the attacks on his wife.Sources in Aso Rock say, Buhari was apologizing, that he didn't send anyone to do what they are doing. Madueke said that if they think his wife went to school for nothing they are mistaken. Or that in her 5 years in the petroleum ministry she didn't uncover corruption during Buhari's time, then he is mistaken.That if he hears one more assault on his wife from Buhari and the APC, in any format, he will personally call a world press conference and expose all their dirty oil deals dating back to the very beginning of discovering oil.He threatened that when he exposed how the Northern has raped this country's petroleum resources, they can kiss Nigeria goodbye, because the people of the Niger Delta will know the extent of the injustice done to them by Northerners.People who witnessed this meeting say Buhari was shaking. Begging, that he never attacked Diezani. He never sent anybody to write anything. The man told him off, saying, "But you read those reports that said my wife was running after you in the tarmac, that she greeted you and you did not answer her greeting?! Did you disclaim them?!! Did you tell people it did not happen?!" They said, Buhari was apologising that Madueke should calm down.Madueke finished what he had to say and walked out. Buhari's aides were stunned.Since then, nobody has even tweeted anything about oil, Diezani, etc.

We know the Apc e rats won't love this story. But we are daring Apc to go the media and make just one noise about madueke

Booked.

The part that talks about embracing transparency is very much welcome. However, I must admit that I am very disappointed to be hearing about 30% production from our refineries. Now I think APC must slow down on the propaganda they are spawning out.

FULL STORY:

The Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC) ,Dr Emmanuel Kachikwu on Friday said the corporation would urgently embark on a transparency operation to regain its lost credibility.

In his first interactive session with journalists in Lagos since his
appointment as GMD, Kachikwu said the transparency operation would start with an audit of the corporation’s finances, which was last audited in 2010‎.

He said the corporation’s finance would not only be audited and brought up to date, but would also be made available to the general public.

The NNPC GMD said the transparency operation would also involve posting of the corporation’s activities on its website regularly.

He added that along with the regular data, there would also be a weekly broadcast of issues concerning the corporation on its website from now henceforth.

Contracts will be made open to the public and we will choose the best module that works for us and that helps us save money. Also, we need to clean the system and carry everybody along. The concept of what is right and wrong will take us very far,’’ Kachikwu stressed.

According to him, though, there are huge challenges in driving the corporation forward but they will be surmounted with good planning and efficiency.

The NNPC GMD said the challenge of cleaning NNPC would be a bumpy, exciting ride, which would eventually yield positive results.

Commenting on the state of the nation’s refineries, he said they were currently working at 30 percent capacity, which was unprofitable.

Kachikwu noted that for the refineries to be profitable, they needed to attain a minimum of 60 percent operation capacity.

Personally, I will have chosen to sell the refineries, but President Buhari has instructed that they should be fixed. After they are fixed, if they still operate below 60 per cent, then we will know what to do.

“The 90-day ultimatum for the refineries to be fixed will end in December and Port Harcourt Refinery looks like the only one that will meet the deadline, but we will wait and see what happens at the end of the 90 days,’’ he said

Globally traded Brent futures were at $48.54 per barrel at 0639 GMT, up 37 cents from their last close. U.S. West Texas Intermediate (WTI) futures were at $45.32 a barrel, up 41 cents.

This is nothing to be excited about. Crude Oil prices are still lower than our budget benchmark of $53.

Nothing should distract or detract us from vigorously pursuing diversification of the economy. We cannot continue to allow our economy to be totally dependent on a single commodity, of which we are not even in control of the price.

Finally, something objective and reasonable is heard from the camp of the flat-heads.

PMB is doing a great job representing Nigeria internationally. However, I think it is high time he starts focusing his attention back home. He should constitute his cabinet immediately and stop dilly-dallying.

The economy is nose-diving for no fault of his, but it will be all his fault if he does nothing to reverse the trend. I have seen that the CBN Governor is part of that trip. I hope they have strategic business/economic meetings to engage in while there.

On another note, for those who think that Amaechi will not be a strategic part of this government are deluding themselves. Whether as Minister or not, I do think PMB will keep him close to his "kitchen cabinet". Baba knows how to reward loyalty and how to punish traitors.

PMB is doing a great job representing Nigeria internationally. However, I think it is high time he starts focusing his attention back home. He should constitute his cabinet immediately and stop dilly-dallying.

The economy is nose-diving for no fault of his, but it will be all his fault if he does nothing to reverse the trend as quickly as possible. I have seen that the CBN Governor is part of that trip. I hope they have strategic business/economic meetings to engage in while there.

On another note, those who think that Amaechi will not be a strategic part of this government are deluding themselves. Whether as Minister or not, I do think PMB will keep him close to his "kitchen cabinet". Baba knows how to reward loyalty and how to punish traitors.

donbrowser:
So we should depend more on Imports?

Thanks for pointing that out bro. I actually meant IMPORTS. My bad.

The CBN Governor is trying to use Monetary Policies to buy time for Fiscal authorities to get their act together. This is a big indictment on PMB.

Chigold101:
bros I no be fan of Saraki... I don't care what happens to him... But I don't believe it until I see it...

PERIOD!

Shockingly, I'm sure there are many things/events you believe even without seeing them. So it's still down to choice of belief about what fits your prejudice.

I rest my case.

Chigold101:
my brother not in this age where everybody have camera phone.

If someone can take a video of Osho baba 'go and die' what of a high profile matter like Saraki's.
Abeg leave matter for Mathias. An event that would have taken more than minutes, is what you are talking about "spontaneous" funny sha...

That thing never happen at all because there were journalists around that ground to cover the event because the governor and the emir come there...

It is another APC lie and cheap propaganda

As I said, it is up to you to choose what to believe or not. It may well be propaganda and it may well be true. But at least you are not debating that he was called "ole".