₦airaland Forum

zinosleek:
unfortunately it will, but prices have to be paid at times. lets hope job get created in other sectors

Keeping people in jobs/ protection of people's livelihood is one of the foremost responsibilities of any government.
It is one of the strongest indices in assessing performance.

Yes the TSA is a good idea which was already being implemented in a gradual manner.

I just think if it was continued that way it would have a less drastic effect.

Yet the Borno state governor was busy inspecting 4. 2billion naira building in far away Abuja yesterday.

While these unfortunate people are languishing due to lack of care.

You are spending billions to erect a luxury building so that you can always get away to Abuja and relax while your citizens are ravaged by Boko Haram.

These are among the governors who sat by and did nothing to curb Boko Haram but were always quick to blame the FG during GEJ's tenure.

Now their hypocrisy is manifesting.

If the chapel is that close to the president's room as stated then it's use should be restricted to the president's family and essential staff.

Since most if not all are Muslims that shouldn't pose a problem.

Another season of failure for Manure.

Flets:
Nigerians should not get carried away

Due to the fall of crude prices, shale oil production has become unproductive. As such, US has resumed increased import of foreign crude oil but at a pre-agreed cheaper rate than global prices.

The US resumed crude import came at a price. The first is sales at rates cheaper than global prices and the second is the installation of Ex Mobil Director Kachikwu as NNPC GMD to protect American interest.

A careful look at the write-up indicates that the onshore crude being purchased is Mobil's Qua Iboe crude (american interest) and the other unsaid story is that its currently being sold at $29.60 below global prices of $45+.

Enough of the noise, Nigeria aint gaining.

Someone with a brain finally comes along.

asha80:
I actually disagree..it should be done now

I know.

I am just saying that it should be done gradually.

Maybe over a period of 6months to one year.

Good intention but may yield an avoidable negative economic outcome due to the drastic mode of implementation.

It will be better carried out in stages to cushion the effect it will have on the already strained liquidity.

Will the 60, 000 people that lost their jobs eat pictures?

Nice move by Toyota. Possibly wooing the army since the Police decided to patronize Nissan lately.

seacoast:
Don't come back empty handed.. At least buy non alcoholic wine

Wine is alcoholic by default.



Meanwhile Buhari I beg you Hollande is the president's name but you are going to France.

Do not call him president of Holland please.

If that is the only thing you remember please do.

Why the confusion

Rochas is an insensitive rogue.

Imo state is in its worst condition ever since creation.

All the infrastructure is decaying, workers and pensioners are being owed salaries.

Yet he jets off to Turkey with a plane load of his sycophantic supporters accruing estacodes running into millions.

MizMyColi:
So what you're saying based on your submissions on this thread is that the GEJ led government was right to have called their bluff in January as have the Buhari government just recently?

This is a question that all zombified Sai Buhari chanters will avoid like a plague.

Initially when this issue came up they quickly rushed to open threads to blame GEJ claiming that the warning was issued in January.
https://www.nairaland.com/2596304/buharis-administration-not-responsible-jp

They were floored in that lame argument.

Now they have started proclaiming that the delisting is the best thing to have ever happened to our economy.

How pathetic and laughable.

[quote author=omonnakoda post=37984067][/quote]Stop clutching at straws.

You know nothing about economics.

I bet you were shocked to discover that China, India and Brazil which you mentioned as not needing "western economics " were listed on the JP Morgan Chase index.

Learn to accept what you know nothing about.

Rochas used and dumped.

omonnakoda:
JPM is a very big bank no doubt ,It has a Market Capitalization of $230 billion


Its financial accounts lists assets of $2 .57 trillion and liabilities of $2.34 trillion on its balance sheet
The difference is $230 billion = roughly the value of JPM today
Now I will advise you that you are not talking to your ignorant villager so please stop spouting falsehoods and inanities
Let me school you a little;

The difference between the the Assets and liabilities reflects the stockholders equity or current market valuation which you can compare with the Market Cap.
http://finance.yahoo.com/q/bs?s=JPM+Balance+Sheet&annual

Nigeria's GDP is about $500 billion . 100 times that is $50 trillion.
According to you JP Morgan has assets NEARLY $50 trillion this is a stupid lie you can refer to their balance sheet where they only have
TANGIBLE ASSETS of $175 billion dollars


In other to make comparisons you must compare like with like. Quite why you choose to compare ASSETS of JPM on the one hand with GDP is a bizarre conundrum . Compare TURNOVER with GDP and Assets wit Assets
Last Year JP Morgan had a Turnover of $91 billion compare to Nigeria's GDP of $500 billion.
Also you fail to mention liabilities.
JP morgan is valued by the Market today @ $231 billion.
Why did you not mention Nigeria's "Assets" what is the value of the oil in the ground in Nigeria ? Proven reserves of 37 billion barrels not to mention other assets.


Assuming everything you said was all true about the value of JPM(It is bulllshitt mostly) It would change nothing about JPMorgan's right to tell Nigeria what to do. Quite simply it is irrelevant. That is like saying because Dangote is so rich he can tell a Restaurant how to run their business. Crazy logic

JPMorgan's Bond Index is about 10 years old .Government bonds have been around for ever. You are the one that needs to learn how government bonds work.
Nigeria does not need JPM's imprimatur

I see you have gone to Google to get some enlightenment.

Unfortunately, you still lack the capability to articulate your findings and make a relevant argument.

You claim JP Morgan index doesn't matter yet you spent all your energy making Apple and orange comparisons of JP Morgan a bank and Nigeria a country.

Meanwhile we have lost billions in the stock market for getting delisted.

When you finish you can do bank of China and HSBC.

But I really advise you to avoid any thread that has to do with analytical economics.

omonnakoda:
In other words you have no idea or understanding.
JP Morgan is a correupt and tainted organization.

Anyone interested can search JP Mogan + scandal OR corruption


There is no non Western country that has prospered without a home grown economic blueprint. The blueprints of the likes of JP Morgan do not work in China,India,Brazil etc.


There is no strategic benefit to this listing. JP Morgan lacks the credibility to tell Nigeria what to do

Lol!

JP Morgan chase is the largest bank in the USA and the fifth largest in the world and their assets run into trillions of dollars almost 100 times Nigeria's GDP.

The statement above clearly shows you know absolutely nothing about government bonds and how they work.
If not you would have known that JP Morgan GBI-
EM Broad index includes: Brazil, Chile, China, Colombia,
Hungary, India, Indonesia, Malaysia, Mexico, Nigeria,
Peru, Philippines, Poland, Romania, Russia, South
Africa, Thailand, and Turkey.

Unfortunately Nigeria will be struck off that list soon.

China, India and Brazil are on that list.
I advised you to read the link but you refused and put your ignorance on display.

Repeating the same thing he criticized. Body language and picture taking president.


I hope his visit yields fruit.

Day by day it becomes clearer that APC has nothing good in stock for Nigeria other than to seize power.

eromspete:
I have a few questions mister/miss

- Don't you think that 20,000 accounts spread across many commercial banks is too much for effective financial performance of public funds given the prevalence of corruption in the country?
- Is Buhari taking the money abroad?
- Can't you understand that the money will be approved and distributed through a main channel? (CBN in this case)

Even a seasoned economic team that is honest will see that this has a good potential for proper structure and accountability.

FYI.. Buhari is not acting alone. He's responsible for signing and approving decisions but people do advise him although its not public in the form of Ministers yet.

Please respond with valid response/argument. And no insults please (many peeps have high tendency to insult on here)

The point is, you do not do something that drastic at a go, if not it will cause disequilibrium.

It must be done systematically in stages.

Who are these advisers?
Are they seasoned economists?
Are they constitutionally empowered to take certain decisions and partake in negotiations or give out relevant information to the international media that will help to bolster investor confidence.

PDP plays mature politics.


A warm welcome accorded to the VP as deserved unlike what Roguechas did to GEJ.

omonnakoda:
Why is being listed in Nigeria's interest? Why is being delisted a strategic disadvantage to Nigeria

Please refer to the link and read the full article.

Yet another aspect that we have backpedaled under Buhari.

Very sad.

Warn to inform someone in advance of a possible danger,
problem, or other unpleasant situation.


Warning
something (such as an action or a statement) that
tells someone about possible danger or trouble. : a
statement that tells ...


http://www.thefreedictionary.com/warning

We were warned in January of the possibility of being delisted.

However, Buhari in the past 4 months DID ABSOLUTELY NOTHING to forestall that action from occurring.

The delisting was not inevitable.
It was rather avoidable if the correct policies were put in place.

How can one put in place such policies when there in NO ECONOMIC TEAM on ground.

Buhari is responsible for the present state of the economy.

Nigerians continue to demonstrate the continual deterioration of the intelligence quotient of the country.

It seems to be an APC curse.
Points have been raised and one expects an intelligent discussion to refute or buttress them.

Instead what we see are lobotomized youths programmed to shout "wailer".

Over 60, 000 jobs have been lost in 4 months.

Billions of dollars have been lost in the stock market following our delisting by JP Morgan Chase.

The naira is at its lowest ebb and may plunge further.

The government is threatening to pull 2. 6 trillion naira from the commercial banks all at once which will be suicidal to an economy that her liquidity is all but gone.

To crown it all no economic team on ground to steer the ship to safety.

Soon one senseless goon will call me a wailer for showing genuine concerns for our economy.

modath:
@Barcanista or na TonyeBarcanista,
Thought you left to boss up on twitter/FB

Why on earth did you return Dem @Toluogunlesi, @eggheader @omojuwa @ediong @kayodeogundamisi making it impossible for you to find a place.. Sorry for that...

For the inanity you have up there, keep wailing, eight years is a lonnnngggg time!!!

No matter how bad/evil you try to paint PMB, Nigeria can never be worse off than it was during GEJ/PDP's 16years.,

They set the bar so low......

Focus on the message.

Focus on the points raised and leave this petty mudslinging that is characteristic of unintelligent minds.

How has the Nigerian economy performed since Buhari took over, are we progressing or retrogressing?

Buhari!
Dullard!!
How many times will you be told to get a seasoned economic team.
What do you think will happen to the banking sector if you pull out 2.6 trillion.

This man will kill Nigeria.

StOla:
The only difference is the South will give it more media coverage, but the victim will not get justice anywhere in Nigeria.

Despite the fact that political offices and power is transient, Nigerians are already wired to be tyrannical when they find themselves having authority over others.

Labour Minister Emeka Wogu once wondered why labour will be daring a whole federal government during the subsidy protests.
He made sure to separate the leadership from the followership, saying "We don't have to explain to the people we rule".

I don't fully agree with you.

Remember the "go and die" incident.
Even though Oshiomole was carrying out "official duties" and the warning had been sounded repeatedly against street trading making the victim in that case liable to some extent, the massive outcry from the public (due to the crude words used) forced his hand to thread humanely and reach out to the victim whom he eventually helped financially, for me that is some form of justice.

Like you rightly pointed out this is because of more media (esp social) coverage

Recall also the incident of the lady that was stripped in Lagos by military officials.

The quota system of admission makes a mess of the quality of graduates being churned out.

calcal:
if na USA the governor GONE, na opposition part will finish the job immediately.

Very true, but it is time Nigerians rose up to their responsibility of protecting our rights.

Sorry to say but if this happened in the south it is more likely that the victim will get justice.

Northern Nigeria is used to blind servitude.

Notice that no single one of them has come out to condemn this act and you wonder why northern Nigeria remains backward.