gebest:
I JUST LOVE THIS MAN

What for?

alexlee50:
his statement taken from that context could be interpreted the way you did but if you read the full text of his speech, what he actually meant was that his government created oppurtunities and improvement in the quality of life that the richest man in africa came from nigeria.now on the issue which you spoke about which made me take you up, fashola, amechi, saraki, oshoimole and others are the people that brought nigeria to what it is today.they are not saints, let's not make them look like one.nigeria belongs to us all, if the ruling party does something wrong, lets have the courage to criticise them, no matter our love and support for them.that way we will have a stronger and better society

First of all, even in the context of the full speech, the statement is moronic. Even primary school children in the Middle East know that the wealth gap in many African countries is one of the biggest problems these countries have. While the political elites produce people richer than people in well-developed countries, enjoy healthcare abroad and their children are educated in the most expensive schools and universities, the masses suffer.

Secondly, it does not change the fact that while under his administration oil revenues were growing, he failed to establish reserves that would help the country to cope with a falling oil prices. He and his wife stole as if there is no tomorrow. And I am yet to see a leader abroad who gives out platinum cell phones as gifts on his daughter's wedding when the masses suffer.

Thirdly, much needed structural reforms have not been put in place even though he was in the best position to adopt such according to him:
“I am proud to say that while I took over a Nigeria that was the second largest economy in Africa with a GDP of $270.5 billion in 2009, I handed over a Nigeria that had grown to become the largest economy in Africa and the 24th largest economy in the World with a GDP of $574 billion.

Fourthly, he obviously is not aware of the difference between GDP and GDP per capita.

Fifthly, thunder strike me if I defend any of the people you have mentioned above. The day I will defend any Nigerian politician, is the day when they will diagnose me with amnesia. The politician I would defend has possibly not been born yet or at least I have not met such yet.

What is your point?

alexlee50:
that is what you people say when we show you the fhuck up of this government.if you were objective, you will not have displayed your ignorance in your initial post

So in your thinking, I can't criticize Jonathan and Buhari at the same time? Nonsense!

Your former president praises himself for having made ONE man one of the world's richest people when more than 50% of all Nigerians suffer from poverty and you come here to defend him? This is ridiculous.

alexlee50:
so u don't know your state? Tell me your state, make I tell you your governor life history. And above all, I just want you to think.Don't act like a zombie which APC has made you people to be

Anyone who criticizes Jonathan is an APC zombie? Seriously?

For your information, I have never supported Jonathan and I have never supported Buhari.

South Korea's economy grew rapidly under Park. The military leaders, with little previous political or administrative experience, and lacking a developmental program, later turned to the economists and planners for assistance. The Economic Planning Board was established in 1961. A program of rapid industrialization based on exports was launched. The shift in orientation was reflected in the First Five-Year Economic Development Plan (1962-66), and the subsequent second (1967-71), third (1972-76), and fourth (1977-81) five-year economic development plans.

Park's policies encouraged private entrepreneurs. Businesses were given powerful incentives to export, including preferential treatment in obtaining low-interest bank loans, import privileges, permission to borrow from foreign sources, and tax benefits. Some of these businesses later became the chaebol.

Toward these ends, the currency was drastically devalued in 1961 and 1964 and import quotas for raw materials eased. Private saving was encouraged by raising interest rates and funds were borrowed from abroad. Exports also were encouraged by direct subsidies; all taxes and restrictions on the import of intermediate goods that were to be used to produce export products were removed. As the existing industries--textiles, clothing, and electrical machinery, among others--had been stagnant owing to a lack of imported raw materials, these policies produced immediate results.

These developmental programs required enormous amounts of capital. As the level of United States assistance had stabilized, the Park regime turned to "financial diplomacy" with other countries. The normalization of relations with Japan in 1965 brought Japanese funds in the form of loans and compensation for the damages suffered during the colonial era. Park made a state visit to the Federal Republic of Germany in 1964 that resulted in the extension of government aid and commercial credits. The availability of funds and the increasing level of exports elevated Seoul's credit rating, making it possible to increase borrowing in the open international market. Further, the conflict in Indochina stimulated economic growth. Seoul's export drive also owed much to the availability of an educated labor force and a favorable international market.

South Korean businesses discovered that they could successfully compete abroad. As idle capacity was used up and the demand for new manufacturing investment rose, increasing numbers of foreign investors were attracted to South Korea.

Foreign exchange earnings improved as export and foreign receipts rose. The government also took steps to increase tax revenues and stabilize consumer prices. Much of the price stabilization program was carried out at the expense of farmers, who were forced to accept the government's policy of low grain prices. Agricultural development lagged behind until 1971, when the government shifted to a policy of high grain prices and inaugurated the Saemaul undong (New Community) Movement aimed at improving the farm village environment and increasing agricultural production and income.

Official statistics indicated rapid economic growth. Substantial successes were achieved under the first two five-year economic development plans. The manufacturing sector provided the main stimulus, growing by 15 percent and 21 percent, respectively, during the two plans. Domestic savings rates grew and exports expanded significantly. A new economic strategy emphasizing diversification in production and trade proved generally successful in the 1970s. Under the third plan, the government made a bold move to expand South Korea's heavy and chemical industries, investing in steel, machinery, shipbuilding, electronics, chemicals, and nonferrous metals. South Korea's capability for steel production and oil refining rose most notably. Refineries for zinc and copper and modern shipbuilding facilities were constructed; automobiles began to be exported to a few markets. The plan sought to better prepare South Korea for competition in the world market and to facilitate domestic production of weaponry.

The quadrupling of oil prices beginning in 1973 severely threatened the South Korean economy, which depended heavily on imported oil for energy production. Construction contracts in the Middle East, however, provided the necessary foreign exchange to forestall a balance-of-payments crisis and to continue the high rate of growth.

The growth-oriented economic strategy emphasizing exports inevitably produced side effects. Although the government previously had been able to manage these side effects and effectively surmount various economic crises, the situation began to deteriorate in 1978. The emphasis on exports had produced a shortage of domestic consumer goods that was exacerbated by the increasing demands brought about by rising wages and the advance in living standards. Price controls imposed on producers of consumer goods discouraged the manufacture of these goods. Meanwhile, the inflow of dollars rapidly expanded the money supply and inflation became a serious problem. According to a Bank of Korea report, consumer prices rose only 14.4 percent in 1978, but most observers agreed that the actual rate was near 30 percent.

The high rate of inflation continued into 1979. According to a report issued by the Economic Planning Board in August 1979, the average household's cost of living had gone up 26.3 percent from the previous year. Although wages had been rising rapidly during the previous several years--spurred by shortages of skilled and semiskilled workers--the rise in wages began to slow down. The average wage increased 12 percent during the year preceding August 1979.

To address these ills, Park had replaced the economic team in the cabinet in December 1978 and adopted stabilization measures entailing the lowering of the growth rate: a stringent tight-money policy; a switch of investment capital planned for heavy industries to light industries producing consumer products; a reduction of price controls to encourage more production of consumer goods; and assistance for the poor. But these measures caused a recession, produced a succession of bankruptcies among small and medium loan-dependent enterprises, and increased unemployment.

http://countrystudies.us/south-korea/15.htm

alexlee50:
your governor is among the people who took us to where we are today

Which one is my governor?

CollinsMD:
this is one thing I'll slightly disagree with about Jonathan.. Now I'll like u to answer me.. Were u aware wen the governors were bent of sharing the money in the excess crude account? How come u didn't stand with Jonathan then wen he was pleading with the governors to let him save for the rainy days?

When did Jonathan plead with the governors to save money? Source, please.

qtx:


The money was used to provide light, water, rails and trains, stablise petrol supply, build a stable economy before the new administration came to scatter everything again and put us back on square zero.

I laugh in Swahili. The economy was stable? Why then does Nigeria suffer more than any other country from the falling oil price if the economy was so stable? EVERY other oil exporting country put money in their reserves because it is a WELL KNOWN fact that the oil price can fall abruptly and considerably. Mr Ex President didn't know it?

We are back to square zero because the country's ability to react to the falling oil price was crippled by the last administration.

We are back in the beginning only God knows how long it will last.

Indeed because Buhari is not doing the right thing either.

Yseone:

The questions you just asked is synonymous to ones you've been asking ya father..."Dad where were you wen ya mates were making money? and ya dad will be like "Son it's your turn to make money for your unborn children & try to keep a legacy for your generation"...Rubbish post from you indeed.

SO the father says that it the son's turn to make money for his children but it wasn't his job to make money for his children?
Better think before you comment. To comment is not compulsory.

emmasege:
You may direct your question to Fashola & Amaechi (your current ministers and then leading figures amongst the gangsters parading themselves as governors). They may wish to tell you the role they played in ensuring that the excesses were shared among the tiers of Government, even when Iweala warned against such. As usual, your type will always blame GEJ for everything, even for the polluted air in your community.

I will blame all of them instead of defending anyone based on my tribe. GEJ was clueless and so is Buhari.

alexlee50:
The answer is simpe, your governors that have suddenly turned born again led by amechi and fashola screamed that it was unconstitutional to have sovereign wealth fund, excess crude account, infact any other account apart from the federation account was illegal.they went further to scream that there was no point having a huge foreign reserve when there is a lot to do with money.they took the federal government to court, and the rest is history. They shared the money.if they had judiciously used these monies for developmental projects, funding smes, infastructural ptojects which would stimulate gtowth in the economy, most states wouldn't have needed bail out funds.please tell me what osun state needs an airport for? Is there no airport in ibadan? How many people travel by air ftom osun? These and many projects like these replicated in most states are what brought us to where we are today? Saint fashola and his god father ruled lagos for 16years, why couldn't they provide electricity for lagos? When they fall sick, they go overseas for treatment. And yet people like you will idolise them.see oshoimole, who was loved by the masses, he constructed the benin airport road for 8years.All the roads in GRA benin are in a terrible state.even the bail out funds given to the governores were diverted.so you asked what happened to the money, ask the governores. One more thing, when PMB came in, he inherited 30b dollars, 2.5trillion from TSA with oil selling at 38dollar/barrel, let him seat up and work and stop complaining.

My governors?

HirstMOG:



my question to you is, where are the money your dullard said looters have returned? what of the gains from the single treasury account? you and your APC are past duellers, what a shame.

My?

One question Mr Ex-President, where is the money that was made when the economy was booming? Where are the savings that would help Nigeria and Nigerians make it through the rainy days?

Why did other governments build up reserves, why didn't you?

I am not sure who is more clueless, you or Buhari but you have this in common, cluelessness.

jameseva:
China could devalue their currency all day, everyday and retain the strength of her economy.. Reason? She's export dependent and devaluation means cheaper commodities compared to what's obtainable elsewhere. 'Steel' quickly comes to mind.. Nigeria is an import based economy and devaluation will simply mean we pay more naira for goods.. A COMPLETE NO to devaluation until we start exporting goods and services that can help stabilise the Naira

Who told you that?

mineANDurs:
I dont want him to devalue, he shuld do watever magic he has in mind to bring d naira down to d official value and beyond as he promised because we all know dat d naira is un-officially devalued.

Waiting.....

You don't want him to devalue but you want him to bring the Naira down to the official value? Does this sentence make sense to you?

It's Obama's fault.

4C2215131:


What a lot of foks don't understand is that all the heart to heart talk and stuff is meant for ailing relationships; where mutual respect, possibly love exist and for one reason or the other things have gone south. Then there will be a lot of hurting, crying and whatnot which is allowed as it's just the mind trying to let go of something it's become accustomed to.

But with scenarios as described by the OP, you just KILL it! Brutal some would say but it'll augur well in the long run for all parties concerned.

I don't think of it as brutal. I think it is honest and fair and helpful.

hassan85:


"The Naira remained strong against the Dollar
and other foreign currencies until I was removed
from office in August, 1985 and it was devalued.
"But how many factories were built and how
many jobs were created by the devaluation?

April 22, 2016

https://mobile.facebook.com/GarShehu/photos/a.1636528929894525.1073741828.1636468759900542/1730938080453609/?type=3&lul&_rdr

This is not true. The Naira was losing value rapidly at that time. And again, devaluation was not the issue, depreciation was.

Creative and funny.

Slapsticker:
it's easier if you aren't single. you just have to tell her to put herself in the shoes of your gf.

However, if you r single...that's gonna take some wit.

They aren't methods around it. just principles.

- Be relaxed
- Don't crush her ego, or make feel like a slut
- choose your words carefully and be in control of your body language.
- Afterwards, make sure she isn't embarrassed
- Don't leave without telling her how much she means to you.
- A hug will do.

Never ever do that unless you want to torment her. Such a sentence will fuel hopes and she will suffer longer than necessary.

4C2215131:
It's simple!
No need for theatrics and all the heart to heart talk and stuff (you may just hurt her more with all that yapping about bla bla bla).
Just via your body language let her know you're not game. Trust me ladies are very very quick to catch on when a man doesn't want them as they are nimble at knowing when he does.
No replies to her SMS', very formal stance when you're together in fact treat her like you'd a guy that is an acquaintance and not a friend. Note the words I used here 'acquaintance' and 'friend'. Both mean different things.
Do this and you're rid of your problem. Note that there is no easy way to turn someone who has feelings for you down without hurting them especially when you go the face-to-face, heart-to-heart route. You gotta be abrupt, cold and distant. It helps the other party when they develop some sort of hate for you via the way you're ignoring them. Their hurt is channeled via this hate emotion thus healing them quicker. Don't be afraid, they don't really hate you it's just a sort of knee jerk reaction to the whole rejection thingy.

Exactly!

1000000 likes.

swagsguy:
my suggestion is dat buhari should not devalue d naira as crude price is appreciating gradually

It has been falling and rising and falling and rising but the Naira has not gotten any stronger.

,we should focus more on how to improve the production capacity of our refinery and more should be built

It won't change the decline in demand on the world market considerably.

,diversify agriculture,

Agreed.

work more on d power sector

Without money to invest?

swagsguy:
Its high time we accept that we have an enormous problem in Nigeria,thanks to the current administration for letting the public know about it and the need to fashion out a long term solution to it unlike the short term solution the govt has always being applying since early 1980s. so in summary we can link nigeria major problem to FOREIGN DEPENDENCE & DOLLAR {to be candid the above two are either directly or indirectly link with nigerias major problen}. let stop beating around the bush,lets also stop the blame game,face and conquer the problem ones and foreall so that the future generation wont still have to deal with it. so i am using this platform to call on ECONOMIST,TECHNOCRATES,POLITICIAN,ANALYST AND THE GENERAL PUBLIC to all put our hand on desk to assist our govt with a possible solution to our problem.

So if you "unlink" it, the problem is solved right?

Controversialad:


Chai I like you joor, proper research exposes one to good knowledge. Truth is we Africans hate to research and the whites takes advantage of this weakness to make us serve them even when they are supposed to be the one serving us instead.

A weakness it is indeed and the symptom of intellectual laziness.

Volksfuhrer:


Yawns.

Your attempt to make a straw man out of my arguments falls flat on its face. The fundamental reason that made China to fight 2 proxy wars with the U.S is still there. Despite the reforms China has made in recent times, China is still a communist state! The moment China begins to run a western style capitalism and democracy, China may no longer see the U.S as a major threat.

China is no longer a communist state in the traditional sense. In a communist state everything is owned by the government. There is no such thing as private property, private ownership or enterprise. People are not allowed to travel or study abroad. Nowadays, Chinese people have private properties and private enterprise. Chinese people travel and study abroad. The Chinese have adopted the free market theory propagated by the West for a long time, which led to an opening of their markets and closer and stronger bilateral relations with the West.

So the examples you gave about Britain, Spain, Germany and France are abysmally wrong! The last time I checked, Germany was no longer a fascist state: the Nazi's are long gone.

So since the Nazi regime is gone, Germany has no enemies but the fact the the old US presidents retired long time ago does not lead to better China US relations?

I'm sorry you are the one who ran out arguments.

How more sordid can your logic go? You agree that Western countries have more votes in the IMF, but you aren't sure whether the West control the IMF because it has 188 member states! Jesus!

Didn't you say they had about 40% of all votes? It is not even the majority of all votes.

You also stated that "China and the U.S are close allies in opposition to North Korea's Nuclear program". Damn!!! Who exactly do you think has been undermining UN sanctions against North Korea all these years? If you don't know it's China, then you are out of your depths. The West have always known this, except you. China might be miffed at the bogus display of North Korea's ballistic missile tests, but she's not opposed to a secret North Korea's Nuclear program. China is North Korea's godfather!

[b]The United Nations Security Council has adopted five major resolutions since 2006 that impose and strengthen sanctions on North Korea for [/b]continuing to develop its nuclear weapons program and call on Pyongyang to dismantle its nuclear program “in a complete, verifiable, and irreversible manner" and refrain from ballistic missile tests. The first two resolutions were passed shortly after North Korean nuclear tests in 2006 and 2009. The third came a month after North Korea successfully launched a satellite in December 2012. North Korea is prohibited from such launches under previous UN Security Council Resolutions because the technology in a satellite launch vehicle has potential dual use applications to ballistic missile development. The fourth was passed after North Korea’s most recent nuclear test in February 2013. The most recent was adopted in March 2016 after a nuclear test and satellite launch early in the year. The resolutions since 2009 furnished UN member states with interdiction authority, calling upon states to inspect North Korean cargo within their territory, and subsequently seize and dispose of goods prohibited by UNSC Resolutions.

https://www.armscontrol.org/factsheets/UN-Security-Council-Resolutions-on-North-Korea

So where and when exactly did the Chinese make use of their veto to stop sanctions against North Korea?

It's amazing that you don't know the difference between posturing and real intent.
Yes, it's true that China promised to 'monitor' new rounds of sanctions against North Korea: but that's just B.S posturing! You stated that Obama met with Xi over the conflict in the South China Sea, that it could escalate! But Obama did not challenge Xi over the issue. Yet, as we speak the U.S government has continued to ramp up military deployments of troops and hardware in and around the South China Sea to confront China! I reiterate, your international politics sucks.

I am sure Xi himself told you that.

Be that as it may, I stand by my words that the West have been our enemies (adversaries, if you must) and it's time we tried new allies. If that offends you, so be it. But you need not use chicaneries to buttress your point that the West have always had our backs.

Kindest regards.

Where did you read that I have a problem with Nigeria "trying" new allies? And who said that the West had your backs?

Volksfuhrer:


Did you just ask me where I got that from?(!) Are you kidding me?

China fought two proxy wars with the U.S in Korea and later in Vietnam, and you think the Chinese have forgotten! Since those two wars, the U.S government has done everything to undermine the Communist Party in China. So you think all is forgiven because Chinese goods flood the U.S markets. Even as we speak right now, another proxy war with the U.S is probably looming over the South China Sea!

So you actually think that when two countries fought wars in the past then they must be eternal enemies?
So Germany still hates France and Great Britain because the defeated Hitler more than half a century ago?
So you think that Spain hates Great Britain because Queen Elizabeth I defeated the Spanish King?



President Obama and president Xi have met recently to discuss the South China Sea conflict as Obama is concerned that the conflict may escalate but he certainly did not challenge China on this issue. Moreover, China and USA are close allies in opposition to North Korea''s nuclear program.

Gosh!

Your argument about China being an influential member of the IMF is ludicrous because Western countries have been "appointing" the chief executives of this institution for ages. The United States and some Western countries for instance have over 40 percent of the controlling shares in the IMF and the World Bank. In fact, these two institutions operate as extensions of the U.S government foreign policy!

Those who pay more, have more votes. Fair enough. And it does not change the fact that the IMF consists of 188 member states so who exactly has been sabotaging the development in Africa? The whole world?

Your international politics truly sucks. Gerhrarahier meehn!

When people run out of arguments ...

theV0ice:


That's good to know. Pls keep it up.

This years budget is having a deficit of N2.2T which translates to &11B but not all are going to be from external creditors. Internal instruments would be sold to also raise cash. The govt has said this repeatedly and I'm shocked that you of all people are ignorant of this. Even if IMF was going to give us a loan, they weren't planning on more than $3.5B.

Why buhari will want to avoid cash is simple and should be clear to you my friend. Nigerians will chop the money if you allow them. But with a foreign partner playing a major role beyond financing in the projects, you can have some level of confidence in deliverability.

Ask yourself why NLNG works but NAFCON is dead and NNPC is just a devourer and cankerworm in the nation's finances? The simple answer is that partners run the NLNG while Nigerians were solely in charge of the others.

We don't need to get all the money to run the budget today or does FIRS need to get all their projected revenue in the bank before the budget is passed? Buhari wants to use the deficit for only capital projects and as we proceed, more avenues will open up.

He might be wrong eventually but how will we know if he doesn't try?

Lessons learnt.

musicwriter:


Now, I think I have to call it quit, cause this's heading towards insults. Certainly, you're no African. Probably a western troll sampling opinion how Africans feel about our new friendship with China.

Your governments has been scamming Africa since 1425. We're done with the west. Your game is up!.

Goodbye.

Yeah, I am spying on behalf of the Obama administration because Obama has sleepless nights that Nigeria made a deal with China.

musicwriter:


Of course, it doesn't allow you know you're a victim in the first place.

When you let me know what African country and ethnicity you're I'll illustrate with examples.

You have not yet defined what the "true African mentality" is and soon you will ask for my name and credit card number.

Explain what the "true African mentality" is and how I am a victim and stop beating around the bush.

musicwriter:


Beautiful!. But, what this means it that you're already a victim of the system. You don't have a true African mindset because by default western education already strip that away from you.

Go read these books and you'll understand how your mind has been messed up by education.
1. Black skin, white masks- Franz Fanon.
2. The educated African- by Sloan and Kitchen.

However, just let me know what country and ethnicity you're and I've prove you here and now how that is.

NB: If you're questions are mere rhetorics, then you shouldn't expect answers.

How am I a victim?

Gext:
A country of a mere $500b gdp has shaken the western world because she managed to adopt an inferior currency that gets devalued on a whim.
What are these people smoking?
Is this one of the legacies of free and watery education that awolowo passed down.?

Whatever they smoke, I don't even want to come near it. It seems to impair the brain region that is responsible for logical thinking.

musicwriter:


You've not answered the question. You're the one that said you don't understand.

And, by-the-way, stop using that evasive psychic trick of boxing me to questions. I know more about that than you do, but have kept my cool cause I really want to help you see things from an African point of view.

If you want us to have a clean discussion answer questions when asked as I've been doing.

First of all, I am African so I don't need your African point of view.

Secondly, why do you have a problem with my questions when you know so much? Rhetorical question.

Thirdly, this is a clean discussion. I am very matter-of-fact oriented, it would be nice if you joined me.