₦airaland Forum

PhockPhockMan:
Colonial masters in 1962?

The British were very present in our country and handling affairs. At the year, the top hierarchy in the army was still occupied by the British.

Recall Nigeria became a republic in 1963. History books widely available in local libraries can be your guide.

luckynzo:
Let's pray the Federal Government is serious about this. Development for the region should top the list of demands by the NDA.

Do you think these criminals actually want development? Have you seen the conditions they are demanding for? This is an avenue to cash in on criminality.

Development indeed!

I have to be honest and be clear with my opinion on this. Despite my huge respect for government's decision to engage in negotiations with this militants or I prefer to called them "Economic Terrorists", I don't not support the negotiations.

My reasons are very clear. We are dealing with sophisticated criminals and not freedom fighters. These frequent negotiations only continue to legalize criminality within the Niger Delta and jeopardize governments effort.

I believe government has been extremely generous with the Niger Deltans. These criminals have been granted amnesty and are being paid monthly stipends for doing nothing despite the training program being undertaken by the militants. These criminals have refused to be productive and help grow our country but engage in illegalities and destroy infrastructures.

Negotiations will only buy transient peace and after these criminal elements are bored or broke, they will continue again. We cannot continue to tolerate criminality and illegality in the country.

The government must learn from "Escobar and the Extradites" and Columbia on how tolerating and negotiating with criminals could have a negative impact on a country. Foreign countries who are pressuring the government to negotiate will never negotiate with criminals on their soil.

These criminal elements are requesting outrageous conditions and making the government ineptitude. However, my advice to government is to continue with the negotiations since government has agreed to it, but outrageous demands must not be agreed. Also, government must invest in technology during the transient peace period that would follow the negotiations, to monitor and police the Niger Delta region and likewise, track down criminals within the creeks.

Oil prices could surge above $85 a barrel by the end of this year, according to analysis by Michael Rothman, considered to be one of the most astute oil experts on Wall Street, CNBC reports.

Rothman heads the research firm Cornerstone Analytics, through which he advises governments from all over the world, the oil-rich Saudi royal family and its affiliates, and energy firms.

Barrel prices hit a 13-year low on the 11th February this year. Last week, they surged to above $50-the first time they have done so since July last year.

The Nasdaq price for a barrel of Brent oil stood at $50.20 on Monday.

The Qatari head of the Organization of Petroleum Exporting Countries (OPEC) has said previously that new investment in the sector requires barrel prices to rise above $65.

OPEC has made no strides in accelerating price growth over the past two months.

Two separate pushes to reduce oil production in an effort to force prices upwards have been rejected by Saudi Arabia, who fears Iran's rise if it does not join the proposed freezes.

Russia, the 13-member bloc's rival, said OPEC has "practically stopped existing as a united organization" before the proposed freezes failed to get approved for a second time on 2 June.

Iranian officials have made it clear that they will not participate in production halts as the government works to restart the country's economic engine. International sanctions lifted earlier this year had locked Iran out of the global oil trade for years.

Under the present circumstances, the government and the Oil Ministry have not issued any policy or plan to the National Iranian Oil Co. (NIOC) towards halting the increase in the production and exports of oil," Rokneddin Javadi, who heads the state-run National Iranian Oil Co. (NIOC), said last month.

Recent reports suggest the Shiite-majority country is on the verge of achieving pre-sanction export levels, with its shipments reaching European and Asian nations.

http://www.businessinsider.com/rothman-oil-will-hit-85-dollars-by-end-of-year-2016-6

Thebachelor:
Hol up!!!

So demanding that our President produces a document dat is a pre-requisite for his job is a misplaced issue?

I'm at a lost at your reasoning.

I'm a supporter of PMB,but if l can defend him when he's right l think it's only fair that l criticize him when he's wrong. And in this case he is.

What certificate are you actually demanding for? I think your own reasoning is illogical construed and schemed to think backwards. If you are well read and you follow up with events in this country, you would probably have read in one of the dailies where this issue has been resolved. Hence, it is still shocking that a couple of illogical youths like yourself still continue to engage and dissipate wasteful energy.

Also, there is something called "Research" if you have ever heard of the word or know what to do. I have been privileged to associate myself with the Military and I know how disciplined, even with its shortcomings, the military is in terms of recruitment. If you tell me that Buhari failed certain subjects in his school leaving exams I would agree with you because, during his generation, those who joined the army were not considered intelligent enough. However, the insistence that our President, a General in the Nigerian Army, has no certificate, is an insult to the Military profession and likewise bringing to disrepute the highly disciplined profession. Also, recall, if you are old enough that the President's coursemates were recruited by the British who were still colonial masters at that time.

Hence, these sponsored youths should stop acting like their sponsors and be intelligent to pursue to a good course.

Love Machine:
How can they utilize it?Besides the police don't have maintenance culture.

Do you intend to give criminals some hope? Why don't you put the system to test? This is a welcome development in view of the fact that kidnapping is slowly being institutionalised in this country.

The spread is very important in order to end rent seekers and biased speculations. Probably a 5 percentage point should be okay.

The Federal Government has approved a new debt management strategy to guard government’s lending from 2016 to 2019 with a nod for more external borrowing, Nigeria’s Finance Minister, Kemi Adeosun said Wednesday.

This is to allow local banks focus on lending to Small and Medium Enterprises (SMEs) for accelerated infrastructure development.
Nigeria’s external debt profile is expected to increase. The Debt Management Office, put the country’s external debt profile at $11 billion as at October 2015 as against the $ 9.4 billion recorded in March 2015.

Already, the government plans to borrow N984billion from domestic sources and N900billion from foreign sources to finance the capital component of the 2016 expenditure.

To get more forex to be able to pay up the debt which will mostly be longterm, government intends to carryout reforms of strategic policies that will make for ease of export of made in Nigeria goods especially agricultural produce and solid minerals.
“government recognises that for the next 3 years to really stimulate this economy and to provide the infrastructure that we need, we would need to be borrowing.

“We need to borrow at the most cost effective rate and at the most cost effective and beneficial terms. And also the government recognises that there is a need to stimulate the private sector, for the private sector to really grow banks must lend to the private sector so we don’t want government borrowing crowding out the private sector.

“Government has taken a strategic decision that where possible we would borrow more externally. That is the external debts in dollars or in any other currencies because the interest rates are cheaper, the tenures are longer and there is more room for banks to lend to the private sector especially SMEs,” minister Adeosun said.

“FEC made it very clear that we must make sure that our costs are low and manage the foreign exchange risks. They agreed that it is cheaper to borrow externally but we must manage the risk involved” she added .

Briefing newsmen after the Federal Executive Council meeting which was chaired by Vice President Yemi Osinbajo, Adeosun alongside the minister of state for budget and national planning, Zainab Ahmed, said the new strategy was approved after much debate.
Nigeria’s debt would now be moved to dollar components as government plans to focus more on non oil exports and discussion was held around how to make export easier.

“There was a lot of discussions around reforms that we would be needing in customs and other ministries to make it easier to export Nigerian goods and agricultural produce and solid minerals that there is demand at the moment.

Some of the bottle necks that exits in customs and those under quarantine need to be removed. If we do this that would create foreign exchange earnings so that these borrowings which are in dollars when they need to be repaid we would have dollar revenues to pay them” the Finance minister said.

Council also discussed the issue of multilateral loans from agencies like the World Bank, African Development Bank (ADB) and so on, noting that most of the agreements were not optimal. She said Nigeria should be confident enough to negotiate with some of these multilateral agencies to make sure that “those loans we take either from the world bank or ADB are on terms that are advantageous to Nigerians. FEC unanimously supported us and mandated the ministry of Finance which is the main negotiator that henceforth such loans will need to be structured so that they benefit Nigerians”.

FEC also agreed that there will be new instruments in the domestic market, particularly sinking bonds, infrastructure bonds and inflation linked bonds to deepen the domestic market and create greater opportunity in the domestic market.

http://businessdayonline.com/2016/06/fgs-external-debt-profile-to-increase-as-it-shifts-focus-to-allow-local-banks-lend-to-smes/

I hope these two Banks will be able to mop up to some extent the sacked staffs of previous Banks.

Owodiran1:
The question now is are we going to be buying things from foreign site now like pandawill.com or oppomart. Com

Yes you can. With this guideline, the restriction will be lifted hopefully and genuine transactions will be honoured by Banks.

biggie73:
...it implies $1 will likely be #1,003 before 30th June,2016.

Laughs. This is a possible deduction if market forces permit it. However, I don't think it might get to that because one of the positive implications of this guideline is to increase the supply side of the foreign exchange. Since the government insisted that it would not devalue the currency to reflect currency economic woes, foreign capitalists refused to bring in their funds, this resulted to FX scarcity and the scarcity, in turn, gave rise to the present black market rate.

Another positive implication is the reduction of rent seeker and speculators through the introduction of primary FX licensed dealers. My only concern is how would these guidelines curb money laundering. I know EFCC is doing a good job and now politics is not as interesting as it used to be in the past under previous administration, however, there may be room for money laundering.

These guidelines will reboot our manufacturing sector back to Pre-Buhari emergence as president, please I did not say boost, but bring back to that point and hopefully, the frequent job losses will cease a bit.

Please see full guidelines as released by the CBN. I retract my previous statement on over-the-counter Futures. This is very good for hedging FX fluctuations and I support that a formalised market be established for it. Welcome development.

However, for those who would not read it. It is official. Nigeria has devalued its currency in view of its economic challenges and illiquidity in the FX market.

New guidelines for the operation of the Nigerian Inter-Bank FX Market

1.0 Introduction

In line with the objectives of enhancing efficiency and facilitating a liquid and transparent, Foreign Exchange (FX) market, the Central Bank of Nigeria (CBN) hereby releases the revised guidelines on the operations of the Nigerian Inter-Bank FX market towards the liberalisation of the market.

2.0 Guidelines

The CBN shall operate a single market structure through the autonomous/inter-bank market i.e. the Inter-Bank Foreign Exchange Market with the CBN participating in the FX market through interventions (i.e. CBN Interventions) directly in the inter-bank market or through dynamic “Secondary Market Intervention Mechanisms”.

Furthermore, to promote the global competitiveness of the market, the inter-bank FX market will be supported by the introduction of additional risk management products offered by the CBN and Authorised Dealers to further deepen the FX market, boost liquidity and promote financial security in the market.

Additionally, to further improve the dynamics of the market, the CBN shall introduce FX Primary Dealers (FXPDs). These shall be registered Authorised Dealers designated to deal with the CBN on large trade sizes on a two-way quote basis. amongst other obligations as stated in the FXPD Guidelines – (Guidelines for Primary Dealership in FX Products). The FXPDs shall operate with other Authorised Dealers (non-FXPDs) in the Inter-bank market.

2.1 Inter-bank Foreign Exchange

Market 2.1.1

Participants in the inter-bank FX market shall include Authorised Dealers, Authorised Buyers, Oil Companies, Oil Service Companies, Exporters, End-users and any other entity the CBN may designate from time to time.

2.1.2 Authorised Dealers shall buy and sell FX among themselves on a two-way quote basis via the FMDQ Thomson Reuters FX Trading Systems (TRFXTConversational Dealing), or any other system approved by the CBN.

2.1.3 Authorised Dealers may offer one-way quotes (bid or offer) on all products and on request to other Authorised participants via the FMDQ Thomson Reuters FX Trading System (FMDQ TRFXT – Order Book System), or any other system approved by the CBN.

2.1.4 The maximum spread between the bid and offer rates in the inter-bank market shall be determined by FMDQ OTC Securities Exchange (FMDQ) via its market organisation activities with the Financial Market Dealers Association (FMDA).

2.1.5 Proceeds of Foreign Investment Inflows and International Money Transfers shall be purchased by Authorised Dealers at the inter-bank rate.

2.2 HEDGING PRODUCTS

2.2.1 To further deepen the FX market, in addition to the already approved hedging products referenced in the CBN “Guidelines for FX Derivatives and Modalities for CBN FX Forwards”, Authorised Dealers are now permitted to offer Naira-settled non-deliverable overthe-counter (OTC) FX Futures.

2.2.2 OTC FX Futures’ transactions shall be nonstandardised with fixed tenors and bespoke maturity dates.

2.2.3 OTC FX Futures sold by Authorised Dealers to endusers must be backed by trade transactions (visible and invisible) or evidenced investments.

2.2.4 FMDQ will provide the appropriate benchmarks for the valuation and settlement of the OTC FX Futures and other FX derivatives.

2.2.5 FX OTC Futures and Forwards will count as part of the FX positions of Authorised Dealers.

2.2.6 To promote market liquidity, Authorised Dealers may apply FX Spot transactions to hedge Outright Forwards, OTC FX Futures and FX Options etc.

2.2.7 Settlement amounts on OTC FX Futures may be externalised for Foreign Portfolio Investors (FPIs) with Certificates of Capital Importation. Such settlement amounts shall be evidenced by an FMDQ OTC FX Futures Settlement Advice.

2.2.8 Furthermore, FMDQ will be developing detailed registration and operational regulation on FX Options and will drive, with the market, the development of other risk management products and attendant guidelines.

2.3 Foreign Currency Trading Position

2.3.1 Further to the CBN Circular Ref: TED/FEM/FPC/GEN/01/001 dated 12th January 2015, Authorised Dealers, (FXPDs and non-FXPDs) are hereby notified of a review in the daily Foreign Currency Trading Positions of banks. Consequently, Authorised Dealers shall have maximum limits of +0.5%/-10% of their Shareholders’ Funds unimpaired by losses as Foreign Currency Trading Position Limits to support their obligations as liquidity providers at the close of each business day.

2.3.2 Where an Authorised Dealer requires a higher position limit to accommodate a customer trade, the Authorised Dealer shall contact the Director, Financial Markets Department. Where the request is assessed as valid, the Director shall communicate immediate approval by text or email to the Authorised Dealer. Thereafter, the Authorised Dealer must, with 24 hours, write to the Director, Financial Markets Department who will thereafter communicate an approval in writing. The Director, FMD shall exercise discretion on the duration of the temporary position limit depending on the estimated defeasance period of the transaction size.

2.3.3 Returns on the purchases and sales of FX shall be rendered daily to the CBN by Authorised Dealers.

2.3.4 Inter-bank funds shall NOT be sold to Bureaux-deChange.

2.3.5 The forty-one (41) items classified as “Not Valid for Foreign Exchange” as detailed in the CBN Circular Ref: TED/FEM/FPC/GEN/01/010, remain inadmissible in the Nigerian FX market. 2.3.6Applicable exchange rate for the purpose of import duty payments shall be the daily inter-bank FX closing rate as published on the CBN website.

2.4 CBN INTERVENTIONS

2.4.1 Participation in the FX market by the CBN shall be via: i. The Inter-Bank FX Market ii. Secondary Market Intervention Sales (SMIS)

2.4.2 Intervention Through the Inter-Bank FX Market

The CBN reserves the right to intervene in the inter-bank market to either buy or sell FX Spot upon the receipt of valid two-way quotes on the standard amount as defined from time to time in the FXPD Guidelines.
CBN may also intervene in the inter-bank market by placing orders for non-standard amounts in the FMDQ TRFXT – Order Book System., or any other system as approved by the CBN.
There shall be no predetermined spread on FX Spot transactions executed through CBN intervention with the FXPDs.
The CBN reserves the right to intervene in the inter-bank market to either buy or sell FX Forwards upon the receipt of valid two-way quotes on the standard amount as defined from time to time in the FXPD Guidelines.
To enhance liquidity, CBN shall also offer nondeliverable OTC FX Futures (bid or offer) daily on the FMDQ OTC FX Futures Trading & Reporting System.
The OTC FX Futures shall be in non-standardised amounts and different fixed tenors which may be sold on any date thereby giving bespoke maturity dates.
FXPDs may purchase OTC FX Futures for their own accounts or sell to other Authorised Dealers and end-users. viii. There shall be no maximum spread on the sale of the Forwards and OTC FX Futures purchased from CBN by FXPDs to Authorised Dealers and endusers
2.4.3 Secondary Market Intervention Sales (SMIS)

The CBN may, at its discretion, intervene in the FX market through the sale of FX to Authorised Dealers (wholesale) or to end-users through Authorised Dealers (retail) via a multiple-price book building process using the FMDQ-Thomson Reuters FX Auction Systems, or any other system approved by the CBN. All SMIS bids shall be submitted to the CBN through the FXPDs.
SMIS – Wholesale:

All FX Spot purchased by Authorised Dealers are transferable in the inter-bank FX market.
CBN may offer long-tenored FX Forwards of 6 – 12 months or any tenor to Authorised Dealers. o Sale of FX Forwards by Authorised Dealers to end-users must be tradebacked. There shall be no predetermined spread.
FX Forwards purchased by Authorised Dealers are transferable in the inter-bank FX market.
SMIS – Retail:

All FX Spot purchased by Authorised Dealers for end-users shall be for eligible transactions only upon the provision of appropriate documentation.
FX Spot sold to any particular end-user shall not exceed 1% of the overall available funds on offer at each SMIS session.
CBN may offer FX Forwards to endusers through Authorised Dealers and may limit the amount sold to an individual end-user o All FX Forwards sales to end-users must be trade-backed.
There shall be no maximum spread on the sale of FX Forwards by Authorised Dealers to end-users.
3.0 Execution and Reporting

2.5 To ensure effective monitoring of the FX market, all Authorised Dealers and end-users are required to trade only on FMDQ-advised FX Trading System(s). All transactions not executed on the Trading Systems shall be voice reported on the Trading Systems.

2.6 All FX transactions by Authorised Dealers are to be reported to FMDQ via the FMDQ-advised FX Reporting System. CBN will be granted access to this system.

4.0 Sanctions

Authorised Dealers are enjoined to comply with the provisions of these Guidelines, failing which appropriate sanctions shall be imposed, including suspension of the FXPD, Authorised Representatives of the Authorised Dealer, suspension of Authorised Dealer from the FX market and/or withdrawal of the Authorised Dealership Licence.

For the avoidance of doubt, all Authorised Dealers are to refer policy issues in respect of which they are in doubt to the Director, Financial Markets Department, Central Bank of Nigeria for clarification.

5.0. Primacy of the Guidelines

These Guidelines supersede:

Circular Ref: TED/FEM/FPC/GEN/01/020 dates October 28, 2014 titled “Guidelines on the Operation of CBN Interventions in the Inter-Bank Market through the Two Way Quote System”.
All other prior Circulars and Guidelines on the subject matter. Please be guided
Issued 15th June 2016

This is ridiculous. If certain youth in this country continue to fall for this and demand for this then what a future this country has. I am amazed that considerable effort is put on misplaced issues.

The youth should be demanding for economic prosperity, public accountability and transparency and also inclusion in governance.

I shake my head.

When you elect a joker as governor this is what you expect. A governor who should be sorting out the issue now has no clue and intend to join in the strike. A sign of failed leadership, yet this man has the effrontery to speak ill against the president when he cannot handle his local issues.

A shame

What is the essence of introducing over the counter FX futures, when there is over the counter forwards?

It is good that non-oil exporters are allowed into the FX market to increase the supply side chain of FX. This will allow inflow of FX currency especially the dollar to come into the country. However, the CBN must finalize arrangement for yuan trade.

Allowing market forces to determine the exchange rate is good. We hope these measures enable the naira to gain considerable strength, but I doubt that given our trade deficits and huge import dependency. However, this may assist to reduce round tripping frequently perpetrated by Banks and politicians who have unrestricted access to the dollar.

Now the CBN should make effort to streamline our interest rate to reflect the economic recession we are facing as they have done for the FX. Once this is done, we may begin to see short-long term economic boom

CyerSeries:
The thing is that no State can meet these requirements so, its as good as saying no bailout again and owed workers will still go home without salary.. Regionalism or fiscal federalism is the way to go.

Then it is a shame. These conditions are not extremely difficult or cannot be achieved. It is like telling someone to go and clean his dirty house or room. Only someone who has something to hide would avoid implementing these initiatives.

What I would ask citizens to do is to monitor state governors who speak against or avoid implementing these conditions, including those asking for true federalism, they are the real enemies of development.

chukzyblingz:
Is this a better option than True Federalism? This is like assigning more power to the center. Buhari is looking for a way to reduce power of governors.

Please ask yourself what is true federalism? Federalism is the devolution of powers or sharing of powers between the state/regions and the center. Can we be honest enough with ourselves and ask if we can truly give absolute powers to states in this country, given the frequent abuse of powers by state governors and politicians. We have witnessed state governors rigging elections with the military, abuse of state funds.

On the other hand, are we also inferring that our states are not autonomous enough or cannot survive on their own? Yes some of them would not survive because they lack innovation and rely on monthly allocation.

However, we should not continue to deceive ourselves with the concept of true federalism, when politicians are only interested in stealing funds and they are poor in governing. We should be concerned with implementing good governance and public sector scrunity just like these initiatives. We should be more concerned with public sector accountability and disclose of public sector information.

What has these governors done with the funds at the disposal presently? What will resource control achieve for states especially the Niger delta states with high level of impunity, militancy, insecurity and corruption?

If the governors are serious enough and implement these initiatives, they will be credit worthy and have access to a wide range of funds to implement their projects.

How can states be bailed out previously, only for them to return back for more bail out funds? Do they understand what a bail out fund is?

This is by far the most beautiful and important indirect policy action ever conceptualized by any government in this country and I am thoroughly impressed with Kemi (Minister of Finance) because it appears to be her initiatives.

On the other hand, this should not be applicable to bail out funds but also conditions precedent to qualify for monthly state funds because emprically most states in this country survive on monthly allocation from FG, no initiative, no innovation, just conduit pipes for spending and stealing.

These initiatives promotes good public sector accountability and governance. It also focus on public sector information disclosure which will enable citizens ascertain what their governors are doing with state funds. In the long run, it will enable states to access a wide range of funds from international markets and God bless them that they use such funds for private aggrandizement, they will only succeed to bankrupt their states and be disqualified in the future.

I am very very happy with this and it is a welcome development. Also, the FG must do the same in terms of disclosing information.

anyicash:
I advice you prioritize your wants according to your needs..someone is asking your hand in marriage, and he is comfortable but your heart is on the other guy who cares less..marriage is good but it is not a bed of roses, but in this situation i suggest you give a space, pause a little bit, study your suitors and consider ur needs. engage in some social activities, pray always and watch how things go.

You must be married because this is wisdom talking here. The OP is still immatured and accordingly, still lives in fairy tales world.

She is accusing the young man of infidelities without any proof whilst roaming in the world of admirers and brooding potential suitors.

OP my advice is that you reexamine yourself and sort out your insecurities. You are not ready for a relationship or even marriage. Deal with yourself first, before you invite someone else into your life.

Taking a cue from the comment above, life is not a bed of roses, likewise marriage or relationship. It is tough work and serious commitment. It is not where you expect things to be handed to you or go your way or where you lick ice cream all the time.

Just sort out yourself please

igwegeorgiano:
is you laptop manufactured in ife? the all the ami on the alphabet is amazing. how did u achieved that feat

I think he has Yoruba conversion for his word processing app

absoluteSuccess:
It's Yoruba time to arise and shine.

God bless Ooni who's making us proud.

We shall possess the gates...

Why? Because he went to a lawmaker chambers in the US. Blackman mentality.

I don't know what gate you thinking of possessing, but it is certainly not the gate of house of congress or whitehouse gate.

This man disgust me with his cheap talks. The same gimmicks he used as governor of Lagos is what he is trying to do.

Mark my word. As long as Fashola continues to be minister, we shall have no power or housing

Who are these fools who don't know how to settle their issues but to come on social media

Why did she hide the guy's face? Publicity stunt!

OhMyG0d:
Pull outta CAN and then what? Will they Stand Alone or join MAN??
Politics has entered into Church, Church has entered into Politics.
I say: KONTINU.

Correction: Church is politics. It has its root very deep in politics. Please go and research

TPAND:
TOMPOLO is way too rich to be hiding in the creeks. This report is fake. This is conjured by insular minds that have not travelled out of the southwest. They don't hide in creeks.

Many south western persons don't even have an imaginary picture of what a creek looks like, if you know, then you will agree to what am saying.

Tompolo has a private jet, has a private island, has investments in 5 countries. He made well over $5billion from legal contracts awarded to him by NIMASA. You think with all this, creek is where he will choose to live. Sambisa forest is bigger than the creeks. One area surveillance will bring out hide outs of the militants.

He is right there in the creeks coordinating the attacks. That is the only place he can feel safe for now. He would be fished out in any country he runs to

The more this man speaks the more I continue to suspect him

They intend to make Nigeria ungovernable by polluting their environment and creating health hazard for themselves

Rapsainot:
Dead artiste gon be thinking beefing stars can revive there dead on arrival, unknown career. Who's Baba Dee? It's time we EPP someone

Rather say you were young during his days because at some point some kid would be asking who is Davido

Is it the Chinese or the state governor that would implement it? If it is the Chinese then it would work, otherwise it is a failed project.

WriteBoy:
I agree with everything you have said so far; your reasoning is sharp and analysis spot on. However, I'd like to know on what basis you make this assumption. Government funded healthcare is a reality in a lot of countries with even fewer resources than Nigeria at disposal. How do you envisage low-income earners who constitute a major chunk of our population being able to afford healthcare? Again, I agree with everything you say, but healthcare, food and shelter is a right of every citizen regardless of their financial wellness. Throwing healthcare at the foot of capitalism and market forces will have too many dire consequences for the poor.

The government should not fund healthcare, but subsidised healthcare and put policies in place for efficiency distribution of good healthcare system. I agree with hospitals being privately managed and likewise, health insurances companies providing plans for health consumers.

attackgat:
If Buhari was a novice who got elected to power, one would be tempted to exonerate him as someone who is still 'learning the ropes'. But the truth is that it is not Buharis first outing as head of state and one would have thought he would have learnt not to repeat the same mistakes he made in first outing a second time. But the age old saying goes that a Leopard can never change its spots. Buhari fought in the Biafran war, he faced Oil price fall as Military head of state, he faced Militancy such as Maitatsine and others, he saw the division of the Country. But what did he do when he came in? He divided the country much worse than he met it, increased Militancy, made the Oil problem worse, caused the Biafran agitation to be much worse. He then reverted to his true nature as a Military man, brought out guns to solve problems that dialogue could have done. Today, he is now fighting with everyone, Boko Haram, Shia Muslims, Niger Delta Avengers, IPOB, MASSOB, the so called Bakassi Militants. All of this because Buhari cannot reason like a democrat. Declaring people to be '5%', northernising Goverment with his appointments, endorsing the shooting of unarmed protesters, lying to the people that he is fighting corruption while all he is doing is 'debt recovery' while corruption is still common place, using military force where he should be using dialogue, desecrating oath of office he took.

Buhari is the only core Notherner to be thrown out of office by his fellow core northerners because of incompetency. The man has been a disaster for much of his life and anyone hoping for anything good to come from the man is wasting their time. As a leader, Buhari is a disaster.

I like the bolded. The administration totally failed in just revealing the amount it has recovered without including the names of the perpetrators. According to Lai Mohammed, the government does not want to lose the goodwill that it is enjoying from corrupt persons returning their loot. I cannot believe the excuse, do these corrupt persons have a choice rather than forfeit what was stolen and still serve their prison time. Are these corrupt persons more powerful than the government?

This administration has exemplified that corruption is a good business and depicts its unseriousness on the fight against corruption. I must confess that I supported the administration, but I am having a rethink, in fact, the administration is unserious and probably would fail.