₦airaland Forum

Emilogistblog:
Who is really in charge of Nigeria’s economy? Is there a coordinating and/or harmonisation point? Who do we really hold to account for the challenges facing the economy? Yes, we know we elected a President and a Vice-President who ultimately should be held accountable for overall policy decisions. But we also know that we did not elect an economic guru, a professor of economics or Nobel Peace Prize winner to be at the highest echelons of governance. Thus, ministers, advisers and assistants who have the technical knowledge are required to advise the President to make economic decisions that are in the best interest of the country.
It is imperative to assert that coordination is central in any venture that hopes to succeed. There are various push and pull factors headed in different directions which ordinarily should contribute to the realisation of governmental objectives. But if the various decision-making points are allowed to proceed in a staccato fashion, confusion will reign and the overall goals will not be achieved. During the Jonathan administration, we had a coordinating minister for the economy and an Economic Management Team. But the current administration is not modelled along the same line. The administration asserts that the current EMT is serving the purpose of steering the economy out of crisis and regularly meets to take relevant decisions.

However, recent decisions and altercations of monetary and fiscal policy authorities seem to suggest that the EMT may not be meeting or if they are meeting, they are not discussing the issues critical for the proper management of the economy. Before the last meeting of the Monetary Policy Committee on September 19 and 20, the Minister of Finance, Kemi Adeosun, had urged the MPC to bring down the Monetary Policy Rate. She spoke like someone who had no official channel of discussing with members of the MPC or an opportunity of a place where decisions on both the monetary and fiscal sides can be reviewed and eventually harmonised and made to work for the realisation of larger governmental goals.

In Communique No. 109 that came out after the said meeting of the MPC, it was clear that there was no meeting point between fiscal and monetary policies. A few quotes from the Communiqué will speak to this assertion. The first is under Domestic Economic and Financial Developments Output, it stated that: “Recognising that the conditions which precipitated the current economic downturn were not essentially sensitive to monetary policy interventions, the MPC again renewed its call for urgent complementary fiscal policies to resuscitate production and engineer aggregate consumption”. The second is under the Committee’s consideration: “The Committee acknowledged the weak macroeconomic performance and the challenges confronting the economy, but noted that the MPC had consistently called attention to the implications of the absence of robust fiscal policy to complement monetary policy in the past”. Thirdly, the MPC stated that: “While the imperative for ensuring financial system stability remains, the MPC reiterated the fact that monetary policy alone cannot move the economy out of stagflation”.

Fourth, the MPC stated that: “The MPC considered the numerous analyses and calls for rates reduction but came to the conclusion that the greatest challenge to the economy today remains incomplete fiscal reforms which raise costs, risks and uncertainty”. Fifth and finally, the MPC stated: The urgency of a monetary-fiscal policy retreat along with trade and budgetary policy, to design a comprehensive intervention mechanism is long overdue”.

What do these quotes show? It creates the Achebe picture of turning and turning in a widening gyre, where the falcon cannot hear the falconer. Things are falling apart and no one seems to be the coordinator or in charge. Different agencies which should have used their mandates to anchor and stabilise the economic ship of state are working at cross purposes. The communique clearly confirms what many enlightened Nigerians had long foretold. If there was a plan and a comprehensive intervention package, the MPC would not be calling for one. The administration had been called upon from the outset to come forward with an economic policy. But it has failed and refused to bring out any. Or, does it lack the capacity to draw up an economic blueprint?

Yet, we have an EMT that claims to be working, Pray, what exactly do the members discuss in the EMT meetings? What mechanisms exist in the EMT to harmonise policies? What information, knowledge and capacity are available to the EMT to make informed decisions? It is clear that the economic ship of state is floating like flotsam and jetsam in the ocean of lack of coordination. Nature abhors a vacuum and something fills up any available void. Are we still surprised about the present economic recession? The MPC warned about our getting into a recession around July 2015 but no one including the fiscal authorities listened. Indeed, there were no ministers as of that time, only the President and his lovely civil servants; this was within the time the President described ministers as “noise makers”.

For the MPC to consider fiscal policy flaws as the greatest challenge facing the economy after reiterating several times that the blame for the economic disaster lay more with fiscal policy and calling for the design of an intervention package says it all. Nigerians are no longer surprised at the quality of the interventions recommended by the EMT to get Nigeria out of recession – sell assets. It is just a knee jerk reaction that evidently is not well-thought out. Sell assets today to implement the 2016 federal budget? After selling the assets today, which ones will be available to be sold to implement the 2017 federal budget and 2018, etc?

The economic challenges of today are beyond the politics of the present actors. Nigeria can afford to do much better if we tap the competence, knowledge and capacities of Nigerians spread all over the world. Nigeria can do better with greater coordination. This muddle through approach is outdated and will not work. This is a wake-up call and challenge to the EMT to prove what value they bring to the Nigerian economy. But the bottom line is that we need to galvanise the team, add and subtract to its membership. History will not forgive the members of the EMT if in these times of grave national economic crisis, they continue to play politics without dedication to their job.
http://emilogist.com/no-one-is-above-…onathan-says-apc/

Dutchboy:
http://punchng.com/sale-national-assets-needed-fund-2016-budget-fg/



APC are a bunch of scammers!They plan on selling National Assets to fund the 2016 budget. Will they sell Nigerians into slavery to fund the 2017 Budget?This is the problem with Africans and the black man, inherently corrupt and short sighted.
Behind the scenes the arrangement has already been concluded and the price tag of $15 billion re-echoed by Dangote and CBN Governor Emefiele for the assets has been finalised.The conspiracy is now in the next stage to implement to sale regardless of the fact most Nigerians oppose it,that is why Buhari wants Emergency powers.
The money Dangote,Saraki,Wale Tinubu,David Mark that was exposed they were hiding in Panama Central America earlier this year through briefcase companies in the leaks to avoid paying taxes and storing their loot will be used to purchase the assets at rock bottom prices.

Shym3xx:
Lol.

The illiterate homoerotic numbnut who does for.eplay on himself and Iweala the utter failure's biggest fan boy is back again. You're a gift that keeps on giving. And this is the last reply you'll get from me.

1). I bet you ignored the aspect of my post where I cited that there are "nuances" between Nigeria and Russia because you're an obtuse scammer with selective reasoning in voodoo economics. The same way you ignored the part of my posted which showed that the US reduced interest rates to stimulate its economy due to recession and that's contrary to what your Emefiele posited here: "Emefiele said the Federal Government should toe the line of other developed countries such as the United States that adjusted its tax policy during the period of economic recession to stimulate consumer demand."

Now back to Russia: why did it increase its interest rates in 2014? Was it to stabilise its economy and reduce inflation - or for a short-term gamble aimed at keeping the ruble afloat due to sanctions, and capital flight while everything else is being sacrificed?

Forbes has the answers:



2). Now that the sanctions have been eased and all the sanctions should be lifted by the end of the year, with the country still in recession - what did Russia do in a proactive way to shift focus away from the artificial padding of the ruble, to its economy ?



CNBC business has the answers:



4). And your floating policy of an utter weak currency in a dead economy heavily dependent on imported goods that has plunged the naira to an exchange rate of almost N500 to $1 is the answer, yes? I thought you said the naira won't fall beyond £250 to $1. How come it's almost N500 to $1 within three months and it's still falling? You're a circus clown who dwells on throwing useless economic terms around.

Russia got into the recession due to economic sanctions and the sanctions specifically targeted the ruble, hence the need to defend the ruble at all cost at the expense of its economy. And now that the sanctions are being eased due to how international relations between Russia and the west have improved lately - the focus has shifted back to the country's economy which has been in the doldrums for over 18 months.

However, that didn't happen with Nigeria and the naira wasn't targeted by anyone. The country's biggest problems are its economic woes and it started with the last administration and the failed policies of this administration exacerbated it. And to solve the problem - the economy has to be the priority. I bet you won't understand something as simple as that since you dwell mostly cramming junk, with garbage in and garbage out, like a robot.

P.S: look at the sources I referenced: Bank of England headed by the supreme Mark Carney the one with the magic touch, Forbes, ABC business, CNBC business, and CNN business - compared to the rags fo.replay referenced: shitty IBtimes, businessinsider, and a blog on reuters. Hysterical. Voodoo economist.

Shym3xx:
Lol.

So all the village idiots and voodoo economists who supported the disastrous floating and are in the habit of throwing around vacuous economic terms are back again to support the disastrous high interest rates.

Bunch of clowns.

4Play:
If as you acknowledge the MPR does not reflect the real cost of lending (with banks lending at circa 33% when the MPR is 14%), then you effectively agree with the gist of my post: the CBN cutting the MPR would not improve economic conditions in Nigeria as the reduced rate would lead to the increased money suppy being used for currency speculation/hedging.

What is driving economic deterioration in Nigeria is inflation: banks would not be lending at 33% if inflation was circa 2%. Cutting the MPR will not lower inflation, to the contrary. If inflation is say at 30% (the NBS's inflation stats are probably an underestimate), no bank will lend to you at 14% as their lending rate has to offset the loss of the naira's purchasing power. It will be irresponsible for the banks to lend at rates which are a substantial discount to the rate of inflation - their very survival and that of the economy will be imperilled.

The debate in this thread is somewhat pointless as people are confusing the CBN's benchmark rate with the interest rates charged businesses in Nigeria. The latter is driven by inflation, reducing the former would have little or no effect on the latter. You may have in mind that the government - perhaps the CBN - should regulate or mandate lower lending rates to businesses but as with most government price-fixing diktats, it would backfire spectacularly causing greater scarcity of bank lending.

I understand the connumdrum about a lack of investment in Nigeria, you seem to think that inflation in Nigeria can be curtailed by producing more goods locally. However, underinvestment in Nigeria is a supply-side constraint reflecting the general business environment: poor infrastructure (electricity, transportation,e.t.c), weak human capital, insecurity, inadequate regulatory environment, e.t.c. The CBN's monetary policy tool is a crude and ineffectual instrument to solve a problem of underinvestment which has gone on for decades. As much as I disdain Emefiele, banging on about the MPR as a solution to our long-running problem of weak local manufacturing or investment in general is rather misguided. Improving the investment/manufacturing environment in Nigeria is a long-term project requiring major policy reforms, the CBN's benchmark rates (the MPR) is not the policy instrument that will help.

This discussion also reveals an underappreciation of how markets work; if there was a viable business in lending to businesses at below present market rates, investors/banks would lend at lower rates to gain market share from other banks. Further, if there was a viable business in producing goods locally, money will find its way into the manufacturing sector in Nigeria (bypassing the banking sector if need be).

I am also not sure why people who go on about the cost of lending in Nigeria do not realise that the FG affects the costs of lending. The FG by announcing and proceeding with record borrowing plans in 2016. 2.2 trillion naira at the last count, is driving the costs of lending up. This is because the FG's borrowing - by adding to the demand for credit - increases the cost of credit. When the FG competes for credit with the private sector, the FG wins hands down driving up the cost of credit and "crowding out" the private sector. This is an FG that is embarking on oil exploration near Lake Chad and purportedly spent over a billion on the Change begins with me campaign (not to mention the billions wasted on the presidential fleet or the National Assembly).

For now, we need to curtail inflation which is being driven by our currency crisis. Cutting the MPR would make the currency crisis worse. People are forgetting that the CBN cut the MPR to 11% in November last year. Look what happened below:

4Play:
"High" interest rates in Nigeria are a product of high inflation. If you reduce interest rates, the increase in the rate of inflation will usually offset the reduced interest rates (in reality, banks will not pass on the reduced interest rates to borrowers).

The reason why I put the term high in inverted comma in the above comment is that a central bank's interest rate is high if the rate is higher than the Wicksellian natural rate (the rate at which inflation growth stabilises). Interest rates in Nigeria are lower than the rate of inflation, i.e., the real rate of interest rates are negative. Hence, the CBN's interest rates are actually stimulative and too low given the rate of inflation.

People keep saying that Nigeria is suffering from a "lack of money" and that we need to inject more money into the system. What Nigeria is actually suffering from is a supply shock (lower forex inflow) which is causing high levels of inflation. The average Nigerian is suffering today from the resulting increase in the costs of living - this is a crucial distinction we need to bear in mind. So increasing the money supply (the supply of Naira without increasing the supply of dollars) in the midst of an inflation spiral will make matters worse! This is why when months ago when people were saying that once the 2016 budget is passed, we will see an improvement in the economy, I thought that was hilarious. Since the budget was passed- injecting more money into the economy - things have gotten worse. Think of it, at the current rate of inflation vis a vis the CBN's interest rates; the manufacturers selling prices are increasing faster than their borrowing costs.The CBN's interest rates is not what is deterring investment, it is the inflation/currency spiral and injecting more money is like a dog chasing its tail. The more you inject, the higher the rate of inflation.

The search for lower interest rates reflects the penchant Nigerians have for looking for shortcuts and easy solutions (a magic bullet). But as economists say, there is no free lunch in economics. What policy makers need to do first is to stop this currency/inflation spiral. In fact, the FG is better off implementing fiscal austerity. I do not know of any country that got out of a currency crisis by lowering interest rates. People are confusing a supply-side shock (as in Nigeria) with a Western-style recession which is a demand-side shock. The difference is that in a demand-side shock, the rate of inflation collapses and the economy faces deflation (price of goods fall). This is what happened following the 2008 financial crisis. To address this, policy makers had to reduce interest rates and when that proved insufficient, they did fiscal stimulus and quantitative easing (arguably still insufficient).

Nigeria has the opposite problem and we should be careful not to further impoverish ourselves: I recommend that people read more about currency crises (google and read about first and second generation currency crises if you have the time)

PS: To summarise: High inflation is driving hardship and this is driven by our currency crisis - disequillibrium between the demand for dollars and the supply of Naira. If you increase the latter (by cutting interest rates for instance), you increase demand for the former. You need to reduce demand for dollars and or increase dollar supply first. Talk about solving our problems by pumping more naira is dangerous wishful thinking.

OBAGADAFFI:
Lower taxes is better than lowering interest rates.

When you lower interest rates, you automatically have more money in circulation chasing fewer products. And most Bussiness will prefer importing thier products due to the high cost of manufacturing.

What the government needs to for on is the reduction in the cost of manufacturing in Nigeria,and lowering taxation can achieve that.

Chukzyfcb:
yes it should reduce. the interest rate was increased by just 2%, so if I used to take loans from banks at say 25% now it means bank will charge me 27%.
so if I am given a tax incentive, let's say I used to pay a tax of 10% on any imported raw materials, let's say I was given tax free import. it means I'll will say 10% of the actual cost of my business.
can't you see that the impact ought to be felt in the price of commodities. but the cost of production is high in Nigeria not only because of high interest rate, other factors too I mentioned above

AZeD1:
Actually, you are the one that is wrong. There's no way the economy can move forward at 22% interest rate.
What the CBN governor should do is reduce interest rate, coarse the government into allowing banks that lend to the real sector have access to funds in the TSA.
The poorest of the poor(hawkers and market women) in this country don't pay tax so how does reducing tax help them?
Most states have not paid salary so even if you reduce tax, it doesn't help people who will not see the money.


We need to generate jobs and improve the manufacturing sector, we can deal with inflation later.

blueto:
Buhari is indeed a socialist. How can you compel the banks to reduce interest rate and suffer lost? This will no longer motivate banks to give interest rates, is like doing business that isn't lucrative, with time you abandon such business. I thank God that Emefiele and the 10 committee members stood their grounds and declined such irrational directives from the “poorly qualified” finance minister.

MadCow1:
He can have the refineries.. But the NLNG should never be considered.

I hope those vultures in the Senate and House of Reps will block the sale of our LNG plants.

GenBuhari:
Cut salaries of Senate and House members Federal Ministers and their Aides by 65%. Sack all expat executives.

Magically you find you have your $15bn

Never sell national assets why not lease them out for 2years terms renewable and raise money that way

MadCow1:
Not only is Gas the future, we are apparently sitting on an insane load of deposit in Nigeria..

tiwiex:
They frittered away many opportunities while blaming GEJ. Let's face it, we are in trouble. Was there a plan to sell these assets before now? It means these people are reactionary and have no long term plans else they would have seen this scenario when all those noise of capital control and TSA was going on. There is no ingenuity in this govt.. Anyone could have sold assets to raise money. The new sherriff noise seems to be over now. They did TSA, zombies hailed him. He said he will attack Niger Delta, they hailed him. He said no de-value, hailing continues. Una don see the outcome? No progress but decline for a year and more. Now na to dey sell our assets. But, this is a dangerous script. Obasanjo's privatization was planned, yet we had some issues but still good. This one is not planned oh. Yet people will say we have a man coming to fix the mess of the past. What mess are we talking about? This sale could have been avoided if Buhari hit the ground running and was still not campaigning after election. Now, they will keep reminding us how GEJ made them sell the assets. That is the story for the next one year. Like I said, it is a script.

MadCow1:
The Joint Ventures are not working..

The FG never fulfills its part of the J.V Agreement and ends up stiffing the IOC's through shady 'cash calls'.

The F.G should rather focus on developing and owning its own Oil Companies that are into exploration and exploitation.

seunmsg:
They can sell the presidential jet and the three useless refineries. However, they must not touch the country's investment in NLNG and the joint ventures with oil companies.

kaboninc:
Crap!!!!!

As usual. Lol.

I'm really trying hard not to go back to my old ways. I've got people who expect some form of civility from me especially in public. However and sadly too people like you makes it very difficult.

You may employ the best brains but you make useless their efforts. Same blunders you made in the subsidy thread...same blunders you're making now. Maybe you should tell us how the government can liquidate the CBN reserves and give to you.

"You can not borrow to fund stimulus packages"


"We are not borrowing to fund 'stimulus packages' which includes 'bailouts' and recurrent spending - increase in wages, etc. We are borrowing to fund 'capital investments'. The odds are for us when it comes to our 'economic state' - growing, strong, dynamic youth population, strong growth population, an untapped middle class, a very large informal sector, etc. These are the variables investors consider before risking their money."


Yet after using my analogy you called it ridiculous....what can be more ridiculous than you?

You must be daft!

trillville:
Haha ha, very funny.
Whether you directly incapacitate them or not, they are still going to get incapacitated. The naira trading at 420 on the black market now. As the naira falls in value, both public and private workers are getting poorer. Considering government's current policies, this will continue for the foreseeable future.

Einstein defined insanity as doing the same thing over and over again expecting a different result. Nigeria has been in this very position in the past. The naira went from 1 naira to a dollar, to 80 naira to a dollar over a 10 year period. That's an 8000 percent devaluation in the value of the naira.

What caused the event in the 80's? New technology which led to deep sea exploration.

What has led to this event. New technology which has led to horizontal drilling.

Both times we had little or no savings due to the inept governments of Shehu Shagari and Goodluck Jonathan respectively.

In the 80's, we devalued the naira crippling the private sector and privatised government establishments. To this day, we suffer as a result of our actions.

Presently, we are devaluing the naira also crippling the private sector.

Private sector jobs are harder to create than government jobs because a private citizen must have a concrete motivation to start a business, but the government can employ people for whatever reason.

Dunlop left nigeria for Ghana and hasn't come back. How many companies do we have to lose this time?

When a recession occurs in the developed world, it is usually caused by businesses believing that there is more demand for a product or service than truly exist. The common term for this is a bubble. The realisation that demand is much less than anticipated, forces the businesses to reduce their workers and production levels to meet the accurate level of demand.

We have government workers who produce nothing but consumption. Do we keep subsidising their lives at the expense of the private sector. Must both sectors die together?

I guess I am Kim Jung Un. At least, I have the courage to make tough decisions. Tompolo's father's leg was recently amputated to save his life. Unfortunately, he still passed away. By amputating his leg, the doctor gave tompolo's dad a fighting chance at surviving. Such decisions are very tough to make. I guess the doctor is also Kim Jung Un.

PS.
Just read that dangote is advising the fg to sell it's shares in nlgn saying government has no business in business. Seems like the privatisation strategy we started in the 80's. While I admit that there are inherently weaknesses in government owned and runner businesses, this is no solution out of our present predicament.

Firstly, the Chinese government owns lots of businesses, and so far is doing an amazing job at running them.

Secondly, a few months ago, during the hottest period in the venezuelan crisis, the venezuelan government had over $50 billion in its foreign reserve, yet it's currency kept falling.

Having more money in our reserves will certainly help us in the short term but we may be in a period of low oil prices for up to 20 years.

kaboninc:
Is there any 'productive' country or company that does not need a bailout (borrow)? If there are any, it will be less than 3% - that is just to be conservative. Bailouts can come in different forms - borrowing, debt write off (full or partial), etc.



What could possible push us into recession? Recession is a cycle and happens all the time in the life of any nation. It could be triggered by so many factors one of which is a sharp reduction in revenue to sustain consumption (in our own case) or development. What matters most is the duration of the recession.

We are not borrowing to fund 'stimulus packages' which includes 'bailouts' and recurrent spending - increase in wages, etc. We are borrowing to fund 'capital investments'. The odds are for us when it comes to our 'economic state' - growing, strong, dynamic youth population, strong growth population, an untapped middle class, a very large informal sector, etc. These are the variables investors consider before risking their money.

Like I said, you borrow to finance capital expenditures and repayment will be from the cash flow generated by the project. For example, lets say you borrow to build a five lane road that will link two or more states together. By tolling the roads, you generate income which would be used to repay the loan.

Then again, we keep talking of reserves like it is 'something' that can be taken and just spent. The major component of the reserve is owned by the CBN, not you nor I nor the government. People should understand that. The other components (which I believe is not more than $5 billion) could said to be owned by the Federation (and another component which I think is owned by the FG). So the FG can lay claim to less than $3 billion. Most people just think the reserves can be taken and plugged into the economy. It cannot. So when you talk of liquidating our reserves, maybe you should explain more what you mean.

And talking about corruption proceeds, lol......



Oga, people round trip in other countries only that ours is more pronounced, our systems and structures are weak and hence people exploit these weakness for gains. The Central Banks of these countries always intervene to save their currencies either through purchase or sales just to make it very unprofitable for people to exploit. Also note that 'forex trading' as a form of round tripping albeit, more sophisticated.

All your comments are always laced with 'na only me know pass', insults and worst of all, ignorance.

DeleteNonsense:
Kanu even tried, for me Nigeria is useless. I have suffered uncountable things just because I'm a Biafran. For your info i was once a "one Nigeria" chanter until I was treated unfairly in a government ministry just because of where I came from. God will judge all of you squarely.

trillville:
http://www.premiumtimesng.com/news/headlines/209699-nigerian-govt-caused-economic-recession-emir-sanusi.html

Since you feel I don't know what I am saying, please read sanusi's submission on the way out of this mess. What I share with sanusi is that we both do not talk from a political angle. We state the solution without much consideration of the effect on a particular individual. Our advice may not always be practical, as we live in a political world, but should never be ignored. Have a good read.

trillville:
In as much as government uses human beings to transfer the money to manufacturers or suppliers, there is a very high liklihood of round tripping.so far a huge difference exists between the rates.

kaboninc:
The source of the money to be "pumped" into the economy do not necessarily have to come from "oil". We can "borrow" from the international community. These borrowings will be tied to specific infrastructural developmental projects that are viable and capable of generating enough cash flow to repay the debt.

Creating a pool of forex without strong institution, processes and systems will still lead to abuse. Experience has shown that what we need now is not a "pool" of forex but an open market that is regulated by a strong financial institution, supported by solid financial structures.

Bailing out a company that is still productive would not be the best solution. But providing incentives such as tax reduction or suspension, reduction or cancellation of import duty/levy whenever there is an importation of essential machinery, access to finance with low cost, among others are what the government should do.

Your solution to round tripping is really not tenable. The same procedure you outlined is the same as Letter of Credit or other international means of payment. These procedures only create a form of security for parties in a transaction. However, not all international trades are backed by Letter of Credits. Besides, what is the guaranty that I can't arrange with the supplier to bring back the money back to Nigeria?

Reference:
That is exactly what I am saying. Years of free oil has spoilt us. If oil runs out comlpetely, what are we going to do. We are not just prepared for development. The fact that we produce oil, does it mean we should not pay the right price for it. The US produces oil, why is gasoline not sold for 10 cents a litre there. They pay international prices though they produce. I often say, the day a yam farmer develops an inordinate taste for yams and he is not willing to pay the market price for yams or the fulani herdsman who loves suya and sells his cows to himself at half the price are both bankruptcies in the making. Next time you meet a Japanese, ask him how much he buys a Toyota or Honda vehicle?. This is the mentality we need to have. The Niger - Delta crises is the wake up call, the school teacher of Nigeria, strict, but in years to come will be praised for making us develop. So let them bomb happily. I'm 100% in support. I don't regard it as suffering but a learning curve to nationhood. As a person I don't fear leaving home for the first time to seek my own livelihood. Most Nigerians are petrified simply because they have absolutely nothing to offer.

lexyclasy:
Your analysis is as good as the one from the pit of Hell.....Thrash

DeleteNonsense:
It's a pity at this juncture somebody is still asking the chains of bandage Biafrans are passing through.

Stingman:
Continuing from the article "Injustice:why Are They No Rail Projects In South East?",

I want to seek public opinion, on why major federal government projects in SE are by public private partnership while those of other regions are done all by the federal government. For example, in SW, Lagos third Mainland bridge was constructed and repaired by the federal government, Lagos- Ibadan express road is being handled by the federal government with a N50billion budget, Oyo-Ibadan road is undergoing repairs, in the north, the Ilorin-Jebba road is undergoing repair, as well as Kaduna to Maiduguri road...and other road and bridge projects...

In SE, the 2nd Onitsha bridge is being expanded under PPP, and the terrible Enugu-Onitsha roads is being considered to be repaired under PPP with a Chinese firm...

Mind you this type of depravity was not corrected under by GEJ either...and also note that these has nothing to do with leaders of SE, as I'm referring the federal projects and not state issues...

The questions are:

1. Is SE Nigeria not part of Nigeria?

2. Why do successive goverment treat the SE like a leper colony?

3. Is there a hidden/secret document given to any Nigeria president, not to touch the SE territory?

4. Does the secret document, say that the SE and affected Igbo people from parts of Rivers, Delta, Benue, Cross River will merge and form a new nation, so no need to develop the SE like other regions...Or if the government must assist, the SE people most pay part of the projects?

5. An exception seems to be the Enugu AIA airport built by GEJ and Stella Oduah... but people have seen how GEJ and Stella have become some of the most hated Nigerians...for giving the SE international airport (though work in progress)

6. Would people still accuse the youths of the Nigeria for migrating to other zones or for wanting their own nation state?

Please no insults...Can we put our minds to these...as what is happening is not coincidence...

euchaaria:
See What An Interviewer Sent To Me!i Have Suffered.


I am literally in tears...
Went to an interview yesterday, answered all my quesiand was feeling like tuface and was really expecting a call up from the firm..
I checked my mail this morning and saw this nonsense from one of the interviewers..



What has this country turned into...
Joblessness + being broke one of the things that make people think twice about life

* I cropped his mail and number..



Cc:izzou

playboy99:
I support Mr. Donald J. Trump’s presidential bid
because he has admitted publicly that the American-
inspired removal of Arab secularist leaders like Saddam
Hussein, Muammar Ghadaffi, Hosni Mubarak and,
more recently, the attempt to remove Bashir Al Assad
were wrong, short-sighted, counter-productive and
have led to nothing but chaos.
How many politicians, from either side of America’s
political divide, have that level of vision and
understanding of world affairs?
How many have the courage to admit that succcesive
American Presidents, including George W. Bush who
was a Republican like him, were wrong on this issue?
Hussein, Ghadaffi, Mubarak and Al Assad were/are,
though dictators, moderate Muslims who fought and
supressed the Islamist terrorists and islamic
fundamentalism in their respective domains.
Since the time they were removed or bogged down in
fighting a civil war, as is the case with Assad, the
Middle East, north, east and west Africa, Europe and
indeed the world has become a far more dangerous
place.
The Obama/Clinton/Kerry administration (whom I
often refer to as the “evil triumverate” or the “unholy
trinity”) helped the islamist terrorists to spread their
violence and evil throughout the world more than any
other government in the entire history of the United
States of America.
The questions that those that doubt my assertions
need to answer are as follows:
1. Why did it take the Obama/Clinton/Kerry
triumverate literally three years to designate Nigeria’s
Boko Haram as a terrorist organisation and why is it
that they waited until over 100, 000 innocent
Nigerians were killed before they did so in 2014.
2. Why did the Obama/Clinton/Kerry triumverate
impose an arms embargo on Nigeria when President
Goodluck Jonathan was in power and why did they
stop the entire western world, including Israel, from
selling us arms to fight Boko Haram? Who benfitted
from that policy more than Boko Haram itself and
those in Nigeria that were using them to discredit and
fight the government?
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3. Why did the Obama/Clinton/Kelly triumverate
encourage their closest Arab allies, including the Saudi
Arabians, the Qataris and the Turks, to fund islamist
terror groups like the Al Nusra Front and ISIS in Iraq
and Syria?
4. Why was Mubarak removed and replaced with the
Muslim Brotherhood in Egypt? How could this have
been allowed to happen? It could only have happened
under the rulership of the triumverate.
Mubarak’s Egypt was America’s greatest ally in North
Africa and the Arab world and she was Israel’s best
friend. When the Muslim Brotherhood came to power
they got it so wrong that the Egyptian military had to
do a coup, topple them and come back.
I am sure that the Obama administration were not too
pleased with that because they were very comfortable
with the Muslim Brotherhood and they welcomed their
islamist agenda and anti-Israerli-sentiments.
5. How can the Obama/Clinton/Kerry triumverate
justify the mess in Libya? They ensured that they
toppled Ghadaffi through their Libyan and Gulf Arab
state surrogates and European allies and after that Al
Qaeda and ISIS moved in and flooded the place.
Libya is now in anarchy, turmoil and chaos and the
terrorists control more parts of it than the government
does.
6. Why did the Obama/Clinton/Kerry triumverate bring
the relationship between Israel and the U.S. to such an
all-time low that, for the first time since the creation of
the Jewish state in 1948, an Israeli Prime Minister, Mr.
Binyamin Netanyahu, visited America in his official
capacity without seeking or being granted audience by
the President of the United States?
Those that think Clinton will not continue the evil that
she and Obama started seven years ago in the name of
political correctness and the subtle promotion of
radical islam and terror are either dangerously naive
or ignorant or both.
Trump has declared that his foreign policy will be
focused on one thing: the elimination and destruction
of those that espouse terror and radical islam and the
protection of those that are victims of radical islam
and the jihadi terrorists throughout the world.
He has rejected the Obama/Clinton/Kerry approach of
trying to appease the terrorists.
That is good enough for me. That is the only way
forward if we want a better and safer world.
On 25th August 2016 Mr. Babatunde O. Gbadamosi
wrote the following on his Facebook:
“Trump must win. Kerry and the Democrats see
Southern Nigeria as Fulani conquered territory, and
the Fulanis as our masters.
I say a prayer for Donald Trump today: May the Lord
of hosts grant him resounding victory in the US
Presidential elections, in Jesus’ name”.
I say a big “amen” to that. The complicity of the Obama
administration in what is going on in our country is
self-evident.
They have weakened, undermined and further divided
our nation by interfering in our internal political affairs
and by encouraging and supporting an incompetent,
sectional, dictatorial and essentially islamist
government whose intention is to intimidate, bully and
brow-beat our people into a cowering and grovelling
silence, submission, slavery and captivity.
The support that the Obama administration and the
Democrats generally appear to be offering the Buhari
administration and the dark forces that they represent
makes it imperative for any right-thinking person that
believes in the secularity of the state, the plurality of
our nation, the sanctity of our constitution and laws
and the equality of all religious faiths and ethnic
nationalities in our country to pray for Trump to
prevail.
That the Obama/Clinton/Kerry triumverate and unholy
trinity assisted President Buhari to come to power last
year is no longer disputable.
That they had nothing but contempt and disdain for
President Goodluck Jonathan simply because he
refused to be their puppet, he refused to work for the
CIA and for the establishment of a demonic “new
world order” and he rejected the notion that gay
rights and gay marriage should be given pride of place
in our laws and his policies is a matter of fact.
That Obama’s campaign manager David Axelrod was
paid large sums of money (which according to some
reports ran into 10 million US dollars) to assist the
Buhari campaign is no longer debatable.
That the Obama administration has turned a blind eye
to the massive violation of human rights and civil
liberties in our country and the perpetration of mass
murder, ethnic cleansing and genocide against our
people cannot be denied.
That the CIA, through its various fronts and surrogates
in the international private sector, is quietly selling the
idea that the hausa language ought to be the lingua
franca of Nigeria and the indegenous language that
our nation ought to be identified with is increasingly
obvious.
That John Kerry came to Nigeria a couple of weeks ago
and insulted the collective sensibilities of the entire
south and every self-respecting Christian in the
country by visiting the Sultan of Sokoto, a handful of
core northern Muslim governors, an “Arewa-loving”
Buhari and no-one else is irrefutable.
Not only did the Christian Association of Nigeria
condemn this in very strong terms but such was the
angst that it provoked that Mr. Kingsly Okah, a
respected essayist and political commentator, was
constrained to write the following:
“John Kerry came for the Sultan of Sokoto’s birthday
and not a state visit. He came to perfect the western
seed of discord foisted on us by the ouster of President
Goodluck Jonathan. He came to lay credence to the
American support of an Islamic agenda in Nigeria. He
came to endorse genocide being commited by some
reprobate Muslims whose foot soldiers are Fulani
herdsmen and their grand patron Buhari”.
To butress the point Mr. Galadima of the Christian
Information Network went further by writing the
following to its members. He wrote:
“This is such a significant event that minority
nationalities and Christians all over the country MUST
digest and act.
1. John Kerry has just confirmed that spiritually,
Nigeria is now an lslamic State.
2. His inspiring attacks on corruption, bad governance
and all that stuff are thrilling but only a facade. He and
the government of the United States of America are
here to divert attention from the real thing.
3.They are pushing the absurd narrative that we
should blame past governments, who they claim did
not tackle poverty etc., for the rise of lslamic terrorism
in the north and that the Sokoto Caliphate has always
been the region which provides Nigeria with decent
human resources for good governance.
Haba!! Please somebody advise me to halt for now.
These diversions should be rejected and resisted. The
legality of using lslam to kill and destroy in Nigeria
must be challenged. This Network should keep this
fight alive and on the front burner of national
discourse”.
Can anyone seriously dispute the veracity of both
Okah and Galadima’s assertions? Are they not
absolutely right?
In a country that is multi-racial, multi-religious, multi-
cultural and multi-lingual and in a nation in which the
south rightfully believes that it is presently under siege
and in the process of being systematically enslaved,
these things cannot be defended, rationalised or
justified under any circumstances.
Not only is it utterly reprehensible but it also confirms
the fact that Obama and his triumverate are not only
partial to the Muslim north but that they also have a
hidden agenda to further divide Nigeria along religious
and ethnic lines and perhaps cause another major
conflict just as was done in Syria.
A vote for Clinton is a vote to continue this shameless
and utterly dangerous policy. Worst still a Clinton
victory would ultimately cost Nigeria dearly.
Donald Trump, who is well known for his disdain and
contempt for radical Islam, his rigid opposition to
islamist intolerance and jihadi terrorism and his
concerns about the activities of those that seek to
establish a new world caliphate where sharia law is
applied to all and where Christians and non-Sunni
Muslims are slaughtered and killed, would have none
of that.
And neither would he, his Republican party or the
evangelical Christian movement in the United States of
America, who are solidly behind him, support or
engender such an evil agenda. (TO BE CONTINUED)

http://ynaija.com/nigeria-implications-donald-trump-presidencypart-1/?platform=hootsuite

feelamong:
Let him continue to spray the cash...

he is lucky that those Scavengers did not hit his oil coy back like they did to my brother , Phillip Ihenacho of Seven Energy

http://punchng.com/forcados-qua-iboe-shutdowns-hit-seven-energy/

Seven Energy International Limited, an integrated gas company in south east Nigeria with upstream oil and gas interests in the region, has taken a serious beating from the shutdowns of Forcados and Qua Iboe terminals.

Seven Energy said it lifted no oil from the OMLs during the first half of the year, compared to 1.8 million barrels last year

Thunder Fire Tompolo and all his Scavengers..