₦airaland Forum

Thatdave:
Buhari may have integrity but obviously doesn't understand economics and oil market

That's a fat lie. The way he handled the oil market during his regime has been unmatched by any other administration.

WhiteTechnology:
Let's be sincere for once.

The reason naira is unstable is because we get most of our dollar from crude oil sales

If we diversify our economy, naira won't be facing issues like this.

The fastest way to diversify our economy is by encouraging

Resource control

Fiscal federalism

Privatization


These 3 Buhari won't support because it will deprive his Hausa Fulani people so many opportunities



This is the truth you must know


Even the SW will not experience true poverty eradication.


My good friend this is the truth

If I am sure Buhari would implement this, I might consider him.

But that will mean going against his ethnic group which will spell doom for him especially a coup .

Those are not the fastest way to diversify the economy. It's basically pursuing an industrialization objective. Why hasn't our oil production output grown over the years? Why do we not refine the crude we produce? We sell 1.8m bopd and import 500,000bopd in form of 35million litres of petrol - You don't expect your naira to appreciate when this happens. How do you industrialise when there is no power? Why don't you institute a public works program rather than giving inflated contracts? These are things that need to be done. Not the divisive subject of resource control!

WhiteTechnology:
Why was the dollar at the parallel market $1.70 almost twice the official rate $0.894

When you understand the article below, you will know.

Having decided not to devalue or to rush into privatization and liberalization Buharism still faced an economic crisis it must address. There was pressure on foreign reserves, mounting foreign debt and a Balance of Payments crisis. Clearly the demand for foreign exchange outstripped its supply. The government therefore adopted demand management measures. The basic principle was that we did not really need all that we imported and if we could ensure that our scarce foreign exchange was only allocated to what we really needed we would be able to pay our debts and lay the foundations for economic stability. But this line of action also has its drawbacks.

First, there are political costs to be borne in terms of opposition from those who feel unfairly excluded from the allocation process and who do not share the government’s sense of priorities. Muslims for example cursed Buhari’s government for restricting the number of pilgrims in order to conserve foreign exchange.

Second, in all attempts to manage demand through quotas and quantitative restrictions there is room for abuse because there is always the incentive of a premium to be earned through circumvention of due process. Import licenses become “hot cake” and the black market for foreign exchange highly lucrative. This policy can only succeed if backed by strong deterrent laws and strict and enforcible exchange rules. Again it is trite micro-economic theory that where price is fixed below equilibrium the market is only cleared through quotas and the potential exists for round tripping as there will be a minority willing and able to offer a very high price for the “artificially scarce” product. So again we see that the harsh exchange control and economic sabotage laws of Buharism were a necessary and logical fallout of its economic theory.

whitecat2:
So it's one of their made up stories Ohhh! I'm tired of these saTANist!

Yeah it is. Totally made up by the writer of the opinion piece.

Whynotthetruth:
The APC presidential candidate; Alhaji Muhammad Buhari, to me would have been appreciated more by my kind, if he remained an elder statesman, and kingmaker than positioning himself in the front burner of politics.
He may end up according to my calculations ruining the integrity and respect he enjoys from some Nigerians hitherto now. His supporters believe that he is the messiah to rescue Nigeria. But in truth, history shows that he won't dare confront the menace of corruption. Why

1) Politics all over the world is undertaken with money; which Buhari is telling us that he doesn't have. This implicitly means he will depend on others(APC governors & stakeholders) to sponsor and bankroll his campaign. This is corruption already. How? The cash these governors will use to sponsor him are state funds and not Buhari's fund or the governor's personal fund. Isn't it corruption already? How will he fight them later??.

2) For Buhari to have before now, publicly exonerated the Abacha's of corruption means he is going to repeat the event of first time in office where he practiced selective prosecution. How Remember, after his coup d'etat, he kept Shagari under house arrest and jailed his deputy; Ekwueme. Why Is the "boy" more corrupt than "his boss"?


3) Will Buhari after being sponsored by the likes of Jagaban turn around and prosecute him Impossible. He won't have that moral right.

4) Remember, the case of 53 suitcases linked to an emir. If he never prosecuted those then; how will he now? I heard he blamed Atiku(the then controller general of custom) for that. Is it Atiku that was the head of state?? is it Atiku that will prosecute the emir?

5)Buhari may not have enriched himself as PTF boss, but his cronies did. Most staff of PTF under him did. So is same scenario not going to play out if elected again

Thank You...Ichie B.

Why don't you write on why your president is not fighting corruption?

There is a list here you can start with: https://www.nairaland.com/2053988/great-nigerian-robbery-2011-2014

whitecat2:
Do you understand what you copied there You obviously didn't get it. What Soyinka was saying in there is Buhari is great and all, but we should still extract more from him by asking questions about what he tends to do, since he's not god. So jonathan is dead and doesn't even come a distant option according to the Prof. Go through it again and read it slowly.

I agree he is dumb. But Soyinka didn't say what's in that article.

WhiteTechnology:
So why did he say he would stabilize oil market when his last approach was oil barter

Pls enlighten us the more

At least he had an approach that countered both the external and internal forces. What's your government's approach today? This election is not a referendum on Buhari. It is one on Goodluck Jonathan who has shown himself incapable of leadership or making hard choices.

WhiteTechnology:
What was the oil price as at June 1982 and why didn't he stabilize the oil market then

He may not have stabilized the market then but he was able to win a concession to increase Nigeria's output by 150,000 barrels per day when everyone wanted a cut or at least quotas should remain stagnant which obviously helped in managing foreign exchange.

LAGOS, Nigeria, Nov. 7— Nigeria will maintain its over-quota pace of oil production for the foreseeable future regardless of cuts other OPEC members have made, according to Nigeria's oil minister, Tam David- West.

''I will not cut,'' he said in an interview today in his office at the Nigerian National Petroleum Corporation.

Members of the Organization of Petroleum Exporting countries agreed in Geneva last week to lower the group's overall production ceiling from 17.5 million barrels a day to 16 million. By restricting production, they hope to reduce the world oil glut and bolster sagging prices.

Many Western oil analysts had expected Nigeria to make at least a token output cut in line with the OPEC decision. But Mr. David-West insisted today that ''Nigeria is not cutting production.'' He said Nigeria would continue to produce more oil than is allowed under its official OPEC quota.

We could defy OPEC if we wanted. Compare it to today where everyone wants to tow the line of the Saudis even though their economy is dying.

danjumakolo:
Simple economics teaches arbitrage opportunities.So for dollar to go high at the black market.it isn't a surprise because traders will get it at official rate and go out to sale.

The dollar fell by 107% during buhari does not stop the poor man having a decent per capita income in 1983.

The percentage change from 0.7 to 1.5 is 107% but have u looked at the price of goods at that time?

Did u bother to know the reason why it moved from 0.7 to 1.5?Guy there is what is called a monetary policy which cbn always adopt to reduce the pressure on Naira.Currently the cbn devaluated the Naira from 165 to 194 mainly to mop up liquidity and reduce the Naira pressure..

OLODO

Inflation was stable then,interest rate was single digit.

There was a closed Market economy in order to bring down those hiding goods.

Your arguments are right. But the truth is the naira didn't even fall by 107%.

Obiagelli:
Let him continue to play smart. Its a pity the mods brought this nonsense to the front page. Anything to dent buhari

Exactly. Anything to dent him. The truth will always prevail.

datolee:
See it this way, The official exchange rate of naira to dollar according to CBN is 168 (selling) 167 (buying) as at december 18 2014..http://www.cenbank.org/rates/ExchRateByCurrency.asp

However, you and I know that, you cannot get this rate at any bank in Nigeria (in fact, according to http://www.exchangerates.org.uk/, it was 184 naira to a dollar on December 18 2014).. the price you get at the bank which is from 180 up is the parallel market (PM) which is the true value of naira

So what was this rate when GMB assumed office. It definitely wasn't 0.724.

Secondly, the Nigerian economy was hemorrhaging when he took office. It was a period of low oil prices and he went to work stabilizing the economy. What comes to mind is the US crisis when Obama took over. He had it bad but things didn't turn around until his second term and now the dollar is appreciating against major currencies. You can't compare this to Yaradua/Jonathan whose government took substantial savings from the OBJ regime and experienced a period of sustained high oil prices.

And the sad part is when GMB wins in February 2015, he will have to spend some time correcting the wrong of the past and making tough calls to shore up the Nigerian economy. 1983 all over again!

Datolee,

What was the parallel market rate in 1983. You can't compare official exchange rate in 1983 to parallel market rate in 1985 and say the naira lost 107%. Compare like for like.

F22RAPTOR:
but if by some freak of nature he does; three months into power he will kick the bucket and the rccg pastor will become president....simple

We will be better off either ways.

ProfCorruption:
Thank you. The OP did it deliberately to support his parochial interests. Soyinks does not have a facebook, istagram and twitter accounts. His mode of communicating with the public has always be through articles, press release and interview.

Exactly. This will now be the new slogan on the forum. They have succeeded in lying that Babangida said Buhari failed exams. The next one is Soyinka said we should stick with Jonathan. And the way it is preached people believe and fly with it.

This is Soyinka on Dec 1

Addressing journalists on the state of the nation at the Freedom Park in Lagos titled King Nebuchadnezzar – The Reign of Impunity, Soyinka chronicled Jonathan’s abuse of power and described him as totally alienated from the reality that has engulfed the nation.

“That a national leader should go campaigning on the platform of ethnic support at a time when priorities dictate a united national engagement for survival, is a grotesque undertaking,” Soyinka said, referring to Jonathan’s visit at the Obafemi Awolowo University last week while Boko Haram is wreaking havoc in northern Nigeria.

Jonathan has continued to degrade the political system by endorsing lawlessness and supporting lawless appointees, not minding the chaos Nigeria is going through, Soyinka said.

“Nothing is more unworthy of leadership than to degrade the system by which one attains fulfilment, and this is what the nation has witnessed time and time again in various parts of the nation, the recent affront against the legislative chamber being only the most blatant and unconscionable,” Soyinka said.

When was this new statement made that we should stick with Jonathan?

Otenestbestyaho:
I know it is hurting you badly, just do me a favour, drink acid and die, I will not miss you at all!

I don't do favours for fools.

retepmurt:
The same Jonathan referred to NEBUCHADNEZZAR by Prof Soyinka.
Soyinka has the right to vote and it is only ONE vote.He should cast his vote for Jonathan and leave us to make our own decision.

Dude, I doubt Soyinka said anything. The writer is possibly deluded or was fed with one of the TANoids talking points bearing Soyinka's name. They are known to lie like the not yet forgotten Wendell Simlin

rozayx5:
so you know buhari got it wrong
eyahh.

The same way you know Jonathan has gotten it wrong. For every one Buhari goof, I give you 3 of Jonathan.

Calculia:
IBB endorse GEJ... GOOGLE is ur fiend

What I found was IBB and Obasanjo shunned GEJ declaration. They obviously didn't want to be pictured with a failure. Words can be denied but pictures and videos don't lie.

rozayx5:
is it true abacha never stole

Is it true that MEND did not carry out October 1 2010 bombing?

Is it true the Chibok girls were rescued?

Is it true that stealing is not corruption?

Amanwulu1:
only d likes of soyinka, who do not want to go to jail, as empty heads like u will have us believe dat any person who does not support d noerthern aspiratn must have been corrupt n there4 afraid of being sent to jail.

Show us what Soyinka said. People quote him verbatim. This is a reference to something the writer thinks we are privy to.

Otenestbestyaho:
My greatest happiness in life will be;
1. Buhari was killed in a bomblast in mecca
2. Earthquake wiped the whole of sokoto, kano, bruno,kastina,bauchi,zamfara,all the core norht and 60 million muslims died.
3.The moon fall on the middle east and kill all of them excluding israel.
4.Nations are banning the practice of islam.
5.Pakistan atomic bomb exploded amd kill all of them.
I will be very happy and I will drink bear that daym

Your English and spelling is pathetic. My greatest joy will be if you improve it. Idiota

Calculia:
IBB also advice against Buhari.

Did u know Buhari is pro Abacha? He said Abacha was the only President that did not steal.

IBB advises now via hopefornigeria Facebook page. You TANoids are just desperate and will go to any length to make a lie truth.

Calculia:
The link to This Day national newspaper is at the top and bottom of the authentic news. ur not blind o

This is an opinion piece referencing what Soyinka said. What did he say and when? The piece was written by Okey Ikechukwu, it's not a news article. U r not stupid o

olapluto:
People do not read! NO where in this op-ed did Soyinka say anything!

I'm wondering too o. I'm googling and searching for the swipe. If there was a swipe, trust TANoids to have brought it to our notice the moment it came out. All we have is a columnist referencing something no one has seen or heard.

This swipe, where was it advertised and what's it about? Who has a link to the original or is it fiction like TANoids have been known for. They have lied in Soyinka's name before.

What is dictatorship? Let me tell you...

It is when you use words like you don't give a damn!

It is when you go on national TV and threathen a state to withdraw military personnels and see if they will survive one month!

It's when despite calls for resignation/probe of ministers like Diezani and Stella Oduah, you turn a deaf ear!

It's when over 200 girls are kidnapped and you deny its reality!


It is when the army you command wake up one morning and decide to impound newspapers cos the stories don't favour them and you kept quiet!

It is watching regions in a country you oversee decimated by a ragtag group of individuals and you sit down and feast!

It is having a wife who feels it's her place to summon the IG of police and ministers at her will!

It is choosing to use a commissioner of police to attempt to ridicule a state governor because he doesn't tow your line!

It is declaring a person with 9 votes winner and 16 votes loser!

It is granting pardon to a convicted criminal and fugitive from the law (alams)

It is giving power to a drug pusher running from the law just because you want to spite your perceived enemy.

This is dictatorship and this is what we've seen in the past four years. Nigeria should not fear Buhari. They should fear the clownish devil currently in Aso Rock.

What is dictatorship? Let me tell you...

It is when you use words like you don't give a damn!

It is when you go on national TV and threathen a state to withdraw military personnels and see if they will survive one month!

It's when despite calls for resignation/probe of ministers like Diezani and Stella Oduah, you turn a deaf ear!

It's when over 200 girls are kidnapped and you deny its reality!


It is when the army you command wake up one morning and decide to impound newspapers cos the stories don't favour them and you kept quiet!

It is watching regions in a country you oversee decimated by a ragtag group of individuals and you sit down and feast!

It is having a wife who feels it's her place to summon the IG of police and ministers at her will!

It is choosing to use a commissioner of police to attempt to ridicule a state governor because he doesn't tow your line!

It is declaring a person with 9 votes winner and 16 votes loser!

It is granting pardon to a convicted criminal and fugitive from the law (alams)

It is giving power to a drug pusher running from the law just because you want to spite your perceived enemy.

This is dictatorship and this is what we've seen in the past four years. Nigeria should not fear Buhari. They should fear the clownish devil currently in Aso Rock.

aze:
How Our Grandpas and Fathers Squandered the Commonwealth of Today's Youth and Generations Unborn. Nice One Op. documented for Posterity sake.

I hope it comes to bear when you decide who you vote in 2015.

Isryl02:
Shebi na robbery yhu call am no be corruption nw

Robbery is stealing but stealing is not corruption.

Dblack:
SMH FOR 9ja.

You get scared the mind boggling corruption that we know of in the past 4 years and zero reaction.

How much more has been stolen but not accounted for in this administration?