₦airaland Forum

grandstar:
Truth be told, PMB's exchange rate plunged the economy into a recession.

The economy was already entering a downturn in 2015 but a recession was not certain.

Upon assumption of office,PMB fixed the exchange rate,at 197 to the dollar. It had declined from around 160 in mid 2014 due to rapidly declining crude oil prices which supplied the bulk of the Forex inflow.

Buhari fixed it upon assuming power which was even illegal as the CBN is semi autonomous to prevent the kind of political meddling he did.

This pegging led to massive shortage of Forex which indicated PMB had ocervalued the rate and could not defend it.

The Forex,shortage starved companies of Forex and they could not import raw materials or machinaries and they started shutting down leading to massive job losses and a recession.

Utomi, Soludo and Sanusi condemned PMB policies

Simply Google Utomi or Soludo or Sanusi condemn PMB economic policies.

The man is very honest and has integrity but his economics is lamentable and managerial skills appalling.

I am apolitical and don't even vote.if I was to vote in 2015 though, I would have voted for buhari.

onlinetomola:
They are coming for you like

talktrue1:
Then let him submit the Masters certificate. He should submit whatever he has. You guys should not be supporting what is bad.

People use Awaiting Result to get admission into higher institutions, but after a while the school calls for clearance and you must submit the certificate. If not you will be expeled from the school

phnaija:
No we can't let sleeping dogs lie. That is encouraging bad behaviour. He can't scam his way to the presidency. What example does that set?

WhyMoD:
There's a minimum requirements to being a president of a country. And the last time I checked being in the army wasn't that minimum.

Nigerians should campaign for their candidates on issues and avoid frivolous distractions... Buhari in his military courses surpassed WAEC certificates, we should let sleeping dogs lie please...

https://m2amzwzcvk4tglmo-zippykid.netdna-ssl.com/wp-content/uploads/2018/10/VP-Osinbajo-headlines-SURA-Market-Independent-Power-Project-Commissioning-Lagos.-26th-October-2018-22.jpg


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VP Osinbajo with MD of Rural Electrification Agency, Mrs. Damilola Ogunbuyi and Hon. Min of Power, Works and Holding, Babatunde Raji Fashola, SAN during the SURA Market Independent Power Project tour.

The Vice President, Prof. Yemi Osinbajo, says that Micro, Small and Medium Enterprises (MSMEs) holds the key to the development of the nation’s economy.

Inaugurating the 1.5 megawatts Independent Power Plant (IPP) at the Sura Shopping Complex in Lagos on Friday, Osinbajo urged the private sector to key into achieving the Federal Government’s economic development goals through MSMEs.

He said that the federal government would continue to implement visible improvements, reforms and interventions that would be impactful in people’s lives and businesses across the country.

“This cannot be achieved without government partnering with private sector, development partners and fellow Nigerians after it has created the enabling environment.

“ We are committed to being transparent as we strive to make Nigeria an easier and cheaper place in which to do business. You all have a critical role to play in ensuring that we succeed.

“Sura Shopping Complex now has reliable, affordable power, thanks to private sector and the government working hand-in-hand.

“As a result, the small businesses in this shopping complex will be more productive. We have made another dent in unemployment and poverty reduction.

“My hope is that we can apply the same formula – innovation, resilience, and partnership – to help Nigeria realise its potential,’’ he said.

Speaking at the inauguration, the Minister of Power, Works and Housing, Mr Babatunde Fashola, said that the mini power grid was a clear demonstration of federal government initiative in developing the power sector through solar energy and renewable energy.

He said that the project, executed under Energising Economies Initiative (EEI), was part of the government’s efforts at easing power shortage to over 200,000 MSMEs.

He said that with the mini power grid, 799 generators would have been decommissioned, thereby reducing harmful greenhouse emissions and noise pollution when the project was completed.

He said that besides, the initiative would create over 2,500 jobs and reduce carbon emissions by 25,000 metric tonnes annually.

“Sura Shopping Complex, an ultra-modern complex located in Lagos, has over 11 different businesses.

“It ranges from printing, branding, financial services, equipment maintenance, catering to tailoring services. The complex has 1,047 shops which had been metered,” FasholaFasho.

He said that the project was built and managed by a private sector developer, Solad Holdings Ltd.,

In her speech, the Managing Director of Rural Electrification Agency (REA), Mrs Damilola Ogunbiyi, commended federal government for the EEI which was helping to improve the country’s economy.

“The EEI aspires to increase energy access and economic growth by assisting private sector developers to provide clean, reliable and affordable power to economic clusters, such as markets, shopping complexes and agricultural/industrial clusters.

“Over the next four to five years, we want to reach 500 thousand small businesses within 350 economic clusters. The role of FGN through the REA is critical to the success of this initiative.

“ This includes providing data like Energy audits, programme management support, community relation support and stakeholder management.

“The programme support for this project is also being provided by Power Africa through technical assistance support from Deliotte and Mckinsey. We appreciate their support and contributions,” he added.

Sura shopping complex has 17 equipment maintenance shops, 53 real estate agents, three banks, 43 tailoring shops, 80 law firms, 55 retailers, 47 management consulting offices, 15 printing and branding offices, 22 catering outlets and 5 E-commerce center.


https://www.thenewsnigeria.com.ng/2018/10/msme-holds-the-key-to-nigerias-economy-osinbajo/

emerged01:
Op well done! I cant point at a project PDP started and finished in Lagos. With this project,southwest needs to vote APC again. We can't avoid to go back to square Zero.

buhariguy:
so the work of government is to initiate project and pocket the resources

jaxxy:
And do u think they inherited a perfect situation from the military? Obasanjo did his best based on his knowledge and capacity at the time, they made many mistakes also.

We don’t expect magic from buhari bt it seems despite all he inherited people feel he cud have done much better than what we are getting and if he fought corruption crediblely that would have easily stood for him bt he’s been very partial with it so it now seems like a joke.

We have bad policies and yet corruption is still thriving. Wat does the country gain?

jaxxy:
Jonathan did a bad job agreed[b] bt buhari did worse,[/b] by failing to access the extent of the situation b4 fighting everybody even the militants by trying to declare a senseless war with them ,this lead to the initial oil production crisis, it took Osinbajo to calm nerves and sort the dispute out of not it wud have been worse economic situation.

Then u recovered a lot of stolen funds bt yet did nothing with it, brought out bad/wrongly timed policies. His aides also started their own corrupt practices which he failed to address so is that all Jonathan’s fault?

tizteezy:
This is some fact here

Can Nigerian youths use their brains for once?

Smell the coffee. I'm no politician, but I'd rather Bihari than a PDP led Atiku.

Hungry lions who've been starved for four years sweet taking you and you're buying it. They'd rinse the nation this time. I'm sceptical it'll work for them this time.

When a decent option comes up, I'll support. For now, we're obviously better served in my opinion oooo


https://www.vanguardngr.com/2012/06/okonjo-iweala-warns-of-economic-recession/

Okonjo-Iweala warns of economic recession

ON JUNE 14, 2012

1:22 AMIN NEWS0 COMMENTS

https://www.vanguardngr.com/2012/06/okonjo-iweala-warns-of-economic-recession/

omoranmilowo:
Fashola am disappointed in you with your utterance. Indirectly telling us that Buhari should not concede defeat if he loses the election. As many of you that planned that God will relocate you all by his power because the suffering is too much in the land due to your party incompetency

Yopcity:
So Buhari & co. knew nothing about the state of the nigerian economy when they were promising us change abi ? A bad workman is always quarrelling with his tools. Ok excuse accepted pls pack & go lets try another person, chikena !

donbenie:
Seems you are talking from both sides of your mouth,on the one hand you're regaling us about how the economy was so bad that Jonathan decided to abscond and handed power to the APC and on the other hand you finally concluded by telling us that NIGERIANS kicked out Jonathan..
Maybe you should make up your mind on which is which..

zombieTRACKER:
I think fashola needs help...

His utterances lately reeks of super cluelessness

Okonjo-Iweala warns of economic recession

By Ben Agande Abuja — Minister of Finance and Co-ordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, has warned of a difficult time ahead as she told the Federal Executive Council meeting in Abuja, yesterday, that “government should buckle up and prepare for a possible recession” in the economy.

https://www.vanguardngr.com/2012/06/okonjo-iweala-warns-of-economic-recession/

EXCLUSIVE: Okonjo-Iweala opens up, says Nigeria economy in danger

June 14, 2013 Ogechi Ekeanyanwu

Minister of Finance, Ngozi Okonjo-Iweala

On Monday, June 10, at the third round of the 2013 ministerial platform in Abuja, Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala, spoke glowingly about the Nigerian economy, saying the fundamentals were strong and that the economy was buoyant beyond danger.

But a few hours later, on Tuesday, when all the doors were closed, the minister sang a different tune. She told her colleagues in government point blank that the Nigerian economy is shaky despite the official fundamentals and that drastic steps are needed to save it from collapse.

At Tuesday’s meeting, a presidency source said, the minister painted a gloomy picture of the economy and hinted that there was an urgent need for “stringent budgetary measures” to arrest the downward slide.


https://www.premiumtimesng.com/news/138723-exclusive-okonjo-iweala-opens-up-says-nigeria-economy-in-danger

FG introduces austerity measures ON NOVEMBER 17, 20147:54 AM


By Emma Ujah, Abuja Bureau Chief ABUJA—The Federal Government, yesterday, introduced some austerity measures and scaled down the crude oil bench mark for the 2015 budget. In a bid to insulate the economy from falling crude oil prices the federal government announced far-reaching policy measures to deal with the crashing crude oil prices, cutting 2015 oil benchmark from $78 to $73 per barrel. Crude oil prices dropped to $77.76 per barrel, some cents below the $78 earlier proposed to the National Assembly as bench mark for the 2015 budget.

https://www.vanguardngr.com/2014/11/fg-introduces-austerity-measures/

quickberry:
Even the GSM was initiated by Abacha

NaijaRoyalty:
The GSM you're using to reply me is one of them .

Obasanjo brought GSM to Nigeria.

GSM is one of many achievements PDP got to show .

You wouldn't have dreamt of having a mobile phone right now if not PDP.

Enough said .

jumpandpas:
You should have asked him to show you the projects initiated by GEJ......

forgiveness:
This space at which this project is going on, really baffled me.

Initially, I thought it was usual Nigerian politician propaganda but now I know this government is for real.

With another 4 years, Lagos Kano and Lagos Calabar will be completed if they continue at this rate. Sai Buhari!

NaijaRoyalty:
Why take credit on someone else's Idea ?

Those projects were innitiated and completely paid for by Goodluck Jonathan Government .

Don't be economical with the truth .

Give credit to whom it is due .

jumpandpas:
I know that you're not programmed to be interested in the looting going on under Buhari and APC govnt.

SternProphet:
The Lagos Ibadan rail and it's paced development is 100% due to Buhari.It might have been on a corporate strategic plan of NRC but definitely not this fastpace of work. Pls you guys should stop it, don't even mention Jonathan's name. Portharcourt airport was also credited to him, that airport was left uncompleted for 3 years. That means they initiated dome projects to STEAL the money. PDP is not more intelligent than you and me. That's a corrupt and incompetent party. If done of you have not travelled or seen how things are done then we forgive you but to talk ignorantly is irritating

jumpandpas:
You didn't add the ones stolen by Babachir Lawal, Maina, Gandolar, Aisha and her ADC, Yusuf Buhari Bike, Adeosun, Amaechi at Ikoyi building.

Tell Buhari to show you the handover note given to him by GEJ.

NaijaRoyalty:
All project Initiated by Jonathan Government

Liers

rusher14:
Not all the photos load as they should.

olajizz01:
O boy,all these outburst is unnecessary for now,because if you people loss,guess half of your population will commit suicide, that's why it will be very difficult for you people(flatty)to be elected as President in this country because you have bites more than what you can swallow,between 99 till now,we have produced 2terms president, vp, powerful ministers,and others,the Fulani's are just looking you as mere slave to them now,when the power return to south,you will realise your position in this country.

rusher14:
They have given Npower to 500 thousand Nigerian graduates. Your relation is a beneficiary.

They've paid pensions.

They've completed rail projects, airport terminals, roads.

They've obliterated Boko Haram created by PDP.

Now tell us what Atiku has ever done for Nigeria.

Maxymilliano:
This shows Atiku mean business and ready to hit the ground running ...