₦airaland Forum

kernel501:
APC STOP FOOLING YOURSELF, WHY POST LIES WITH A HYPERLINK THAT SAYS A DIFFERENT THING?
NIGERIANS PLEASE CHECK THE LINK, IT HAS NOTHING WITH THE ABOVE NEWS.

You well so? :-/

I saw a report of interest, and pasted the link for you to verify. What's your problem with that?

Djicemob:
Which kind future article be this?

Dat one mean say Jona has a future in Kuje prison

Mynd44:
As much as I think President Jonathan was ineffective as president, I think the Economist needs to tone it down with the nane calling. Tagging him a buffoon is obviously a way to get more attention and more people to read this article which I must say does not have much (I dare say any) content.

They need to get back to writting articles they are known for like the one that made Nigerian soldiers chase after newspaper vehicles in a bid to stop them from getting to the stands in 2014(or was it 2015?).

And for President Buhari's supporters, dont celebrate, the economist is not known to pick sides. I can bet they will soon throw out another article to diss the president and yes, call him names.

But Buffoon though……ouch.

This is gonna strike some nerves

Bross, d article long wella I just had to cut it short there.

Modified:
Full story posted

zicoraads:
I thought Dino was a 'Progressive?'

Johnrake69:
What is this one saying? Dino is one of the founding fathers of APC. Still trying to decipher what brought PDP into the picture.

He is a key member of the pdp-powered "like-minds".

Without the backing of the treacherous PDP, the likes of saraki, Dogara and Dino would be floor members in the Nass.
APC never trusted them with power because of their chequered, self-centred, past.

It might interest you to know that Melaye openly endorsed Wada instead of Audu in the recent Kogi election.

In mama piss' voice:
Chaai! Ecolomiki, all dis name wey una dey call my husman.... Diariz gorduo

Wailers must hear this!

Jan 30th 2016 | LAGOS

MORE than 30 years ago, a young general swept to power in the fifth of Nigeria’s military coups since independence in 1960. The country he inherited was a mess: bled dry by pilfering politicians within and hammered by falling oil prices without. Last year that general, Muhammadu Buhari, became president again—this time in a democratic vote. The problems he has inherited are almost identical. So are many of his responses.
In the eight months since Mr Buhari arrived at Aso Rock, the presidential digs, the homicidal jihadists of Boko Haram have been pushed back into the bush along Nigeria’s borders. The government has cracked down on corruption, which had flourished under the previous president, Goodluck Jonathan, an ineffectual buffoon who let politicians and their cronies fill their pockets with impunity. Lai Mohammed, a minister, reckons that just 55 people stole $6.8 billion from the public purse over seven recent years.

Mr Buhari, who—unusually among Nigeria’s political grandees—is said to have just $150,000 and a couple of hundred cattle to his name, abhors such excess. As military ruler he jailed, fired or forced into retirement thousands of bureaucrats whose fingers had been in the till. This time, the Economic and Financial Crimes Commission (EFCC) has arrested dozens of bigwigs, including a former national security chief accused of diverting $2.2 billion. The EFCC has a poor record of securing convictions; but a single treasury account has been introduced to try to stop civil servants siphoning off cash. And agencies which may not be remitting their fair share to the state are having their books trawled by Kemi Adeosun, the finance minister.
Such measures are doubly important because the economy is swooning along with the oil price. The sticky stuff directly accounts for only 10% of GDP, but for 70% of government revenue and almost all of Nigeria’s foreign earnings.

Oil’s price has fallen by half, to $32 a barrel, in the months since the new government came to power, sending its revenues plummeting. Income for the third quarter of 2015 was almost 30% lower than for the same period the year before, and foreign reserves have dwindled by $9 billion in 18 months. Ordinarily there would be buffers to cushion against such shocks, but Mr Jonathan’s cronies have largely squandered them. Growth was about 3% in 2015, almost half the rate of the year before and barely enough to keep pace with the population. The stockmarket is down by half from its peak in 2014.
Domestic oil producers are feeling the pinch worst. Many borrowed heavily to buy oilfields when crude was worth more than $100 a barrel, and are now struggling to pay the interest on loans, says Kola Karim, the founder of Shoreline Group, a Nigerian conglomerate. This, in turn, threatens to create a banking crisis. About 20% of Nigerian banks’ loans were made to oil and gas producers (along with another 4% to underperforming power companies). Capital cushions are plumper than they were during an earlier banking crisis in 2009; but, even so, bad debts are mounting and banks that are exposed to oil producers may find themselves in trouble. “It wouldn’t surprise me if one or two went down,” says a senior banker in Nigeria.
The government’s response to the crisis has been three-pronged. First, it is trying to stimulate the economy with a mildly expansionary budget. At the same time, it is trying to protect its dwindling hard-currency reserves by blocking imports. Third, it is trying to suppress inflation by keeping the currency, the naira, pegged at 197-199 to the dollar. Only the first of these policies seems likely to work.
The budget, which includes a plan to spend more on badly needed infrastructure, is a step in the right direction. Although government revenues are under pressure from the falling oil price, Mr Buhari hopes to offset that by plugging “leakages” (a polite term for theft) and taxing people and businesses more. That seems reasonable. At 7%, Nigeria’s tax-to-GDP ratio is pitifully low. Every percentage point increase could yield $5 billion of extra cash for the coffers, reckons Kayode Akindele of TIA Capital, an investment firm. Mr Buhari also plans to save some $5 billion-$7 billion a year by ending fuel subsidies—a crucial reform, if he sticks with it. Even so he will be left with a deficit of $15 billion (3% of GDP) that will have to be filled by domestic and foreign borrowing.

Yet his policies on the currency seem likely to stymie that. The central bank has frozen the naira at its current overvalued official rate for almost a year. The various import bans (on everything from soap to ballpoint pens) are supposed to reduce demand for dollars, but have little effect. Businesses that have to import essential supplies to keep their factories running complain that they have been forced into the black market, where the naira currently trades at 300 or more to the dollar. Several local manufacturers have suspended operations. International investors, knowing that the value of their assets could tumble, have slammed on the brakes and some have pulled money out of the country just as their dollars are most needed (see chart).
Nigeria is fortunate in having low levels of public debt (less than 20% of GDP), but it is not helped by high interest rates, which mean that 35% of government revenue goes straight out of the door again to service its borrowings. It would not take much to push it into a debt crisis.

http://www.economist.com/news/middle-east-and-africa/21689584-cheap-oil-causing-currency-crisis-nigeria-banning-imports-no

No thanks to Jonathan.

Serving under GEJ was enough to convert an angel into thievery.

According to PDP and their like-minds, the only defence against allegation of corruption is to tell Nigerians that you're not the only corrupt person.

This is very typical of a PDP-minded politician. They try as much as they can to rubbish the image of their critic, discredit him and deflect focus from the real issues at stake.

Jonathan and his gang of thieves used this silly tactic and are still using it.
They have taught their herd of hypnotic wailers how to tow this line of ignominy.

No hiding place for criminals in Nigeria.
Wailers can go to hell

anonimi:
Are they not APC members?
Is Buhari no longer the Superman he was presented to be prior to March 28?
Can he no longer fix something as ordinary as excessive pay of his party men in the chambers?
Anyway sha a man who has NO integrity himself cannot dictate anything of such to ther thieves like him who know his secret intot

You know too well that those guys are more of PDP than apc. They were NEVER of the APC.
They were foisted on Nigerians by a pdp which was, and remains, very desperately for powerful allies to defend Their interest and tow their corrupt lines.

Anytime Nigerians are visited with the corruption, arrogange and recklessness of Saraki and his like-minds, we remember the legacies of the PDP.
We loathe the party more and more because they only stand for all things injurious to public interest.

joborskill:
Pot abusing kettle. Refund 16billion dollars power fund first before blabbing. Grand father of corruption

You're entitled to your own opinion. Though the greatest deception that men face is from their own opinion.

TippyTop:
Kettle calling the pot black.

Someone has to speak up.

You can voice your own opinion. Let's see if you enjoy more credibility and wider audience than the man you so love to dismiss.

Apt and accurate!
The arrogance and lawlessness of Saraki and Dogara is becoming too conspicuous and Unhealthy for the nation.

MyGeneration:
This spanishkid stup1d sha.
U are not from Delta and u want to discuss Delta issue, then with ur criminal tendencies u start mentioning the names of non Deltans to come and debate Delta issues for Deltans... EDO people stup1d no be Small.

Your sanity is highly questionable.

Fayose is an abnormal jester. His words and actions are full of absurdities.

Just when I was beginning to think that we've seen the end of their reign of terror.

Way to go.
Let's see how that happens.

I saw this coming.

How can you tell communities that are under siege by bunkerers and pipeline vandals to hand over their captors oppressors? Those guys are well armed!
You think they wouldn't have been rid of those vandals for long if could?

Nigerian authorities always take the wrong approach to solving problems.
I suggest they also order the N'Esterners (and all herdsmen), including all moslems to handover every terrorist among them.

He's under the authority of the catholic church as a priest, and is only being transferred - which is a normal routine.
Don't make it seem like he's being witch-hunted.

bloodykiller:
Nonsense Buhari should make the corruption war transparent
no sacred cow QED anything less than that is a mere jamboree

You're ranting as if you can fathom the true concept of transparency or sacred cow

Anyway, go on with your inanity. You're way too crass for any reasonable discourse.

babyfaceafrica:
OP..you arrangement is poor...you can do better,thank you

Honestly!

bloodykiller:
[s][/s]

Why you wan kee yor sef?

"we are told that part of Abacha loot was relooted in the $2.2billion arms fraud.”

Since 1999, it has always been a culture of looting, relooting, and defending of the traitors who have robbed our nation to near bankruptcy.
No thanks to PDP.

manuelzz:
God bless you immensely... These hoodlums think they can deceive everybody.

englishmart:
if this is not a publicity stunt, why was he pictured ? .

There are people with phones everywhere. Most phones have camera.

This shouldn't be too difficult to understand. Even for a typical daft wailer.

SmartChoices:
Was he ever patient with Jonathan

Jonathan never gave a damn. He is on record for saying that.

When you see a reckless man (like Jona), take actions to stop or correct him.
Your patience will only give him more time to cause chaos, create crisis and mess the whole place up.

My amiable Amaechi has come a long way. He cannot afford not to lead by example.

It makes his haters to wriggle in pain and wish they were not alive to experience his success.

Impressive.

His story epitomise the ascent from grass to grace through hardwork.

Mays his city and its inhabitants experience peace, development and prosperity through his reign.

ihatebuhari:
Lol My Edo is for APC

Wow! Even a Buhari hater knows this.
It's healthy to be realistic.

"Let everything that has breath praise the Lord!"

"I was glad when they said, 'let us go into the house of the Lord.'"

God deserve all our praise and worship at all times.

modath:
Neither am I & I'm no wailer!!!

Thought Pa Oyegun said All should stay back

The numbers and what comes with it is needed...for the election.
Their loyalty depends on the effectiveness/competence of the party's leadership.

Freemanan:
We are NIGERIANS

Yeah right.