₦airaland Forum

TheGoodJoe:

Six percent growth on paper. If we were growing six percent as you say, why were our reserves depleting and Ngozi Okonjo-Iweala withdrawing from the ECA.

I guess you also bought fuel on paper back then

Was it Saraki that was responsible for him jumping the gun, when he reported the judgement of the appeal case of Akpabio, before the judge had given his judgement
http://www.nigerianbulletin.com/threads/saharareporters-apologises-to-nigerians-over-misleading-report-on-akapbios-verdict.152750/

shaqhead:
Son, all this semantic rigmarole is all hooey!

This your analogy has no bearing on this matter because if the governors ddnt want to continue saving they wd have opted out from the beginning but they did until....

Please tell me am wrong to the following questions:

Did the governors go to court to stop the savings in the beginning? NO!
I guess you know their adduced reason for takin that decision!

Did the governors stop the Executive arm from saving its own share of the ECA saavings? NO! ( So u kno d govs only had a 30% stake)

Are the governors responsible for the depletion of our foreign reserves? NO!

Her words are as clear as day.....she mentioned OBJ admin and compared it with the last admin where i know that Amaechi wasnt the president and if you keep pushing the Amaechi stale gibberish, you only indict your hero as nothing less than the various epithets he has been called in different fora!

You can lie to yourself all you like, jst as u- a male claimed to b "female maupe" of channels but this glaring facts you cant deny!

You ply the Apapa Oshodi expressway everyday and you still complain about the "failure" of GEJ.
You watched as Nigeria's economy grew by 6% and yet you mocked the President's economic team
You bought fuel consistently, without queing and yet you blamed him for subsidy payments.
President Jonathan, was no lee kuan Yuew, given, but he was pretty close to that.
Dont worry, Paul Nwabuikwu, will help clarify her statement tomorrow.

nightmile:
What idea please?

Economic liberalism and political sportsmanship

omenka:
The West can publish all the reports they like, Nigeria will still feels safer with the Chinese than those predators. And we will cut deals with them whether Washington or the people down 10 Dawning Street like it or not.

It is a report, not an indictment.

insecticide:
And I ask, where is the 50% or 52% of the FG?

It is on your roads, rails, traffic lights and stability of the economy, despite being in a global economic slowdown. Take a trip to Zimbabwe, and see the difference

omenka:
Let me rephrase in case my question didn't get across properly: what aspects of the faults in the economy can we blame them for??

If you tell me "absolutely nothing, they were perfect", I'd still take it.

Economic brilliance

Nigerians are too obsessed with media warfare and the social media. That is why, the common sense senator keeps scoring vital points against the APC media support machinery. We should learn to listen and borrow from him, what is right, and criticise with etiquette, what is wrong. Strong language and silly comments will only show the frustration of the FG's media sponsored team

If we are not careful, we will become the next Zimbabwe

tbaba1234:
OBJ saved even with pressure from governors because there was the political will.

There was no political will in GEJ regime. This is coming from a person who served as the finance minister for both parties.

OBJ had the strength of being a two term president. Also, his political power had been increased by his supposed conquest of the western region. Goodluck on the other hand, was a VP turned President: Read the history of Lyndon.B .Johnson, Gerald Ford and also George Bush.Snr. President Jonathan did not have the political might of OBJ, and also time will tell if GEJ was the smarter one. Machiavelli died in poverty, but the legacy of his ideology is still being studied today, because he had an idea. Goodluck had an idea, and so, posterity will show if he was indeed clueless or not

omenka:
Let me ask you a simple question in the hope that you give me an honest straightforward answer: what exactly can we hold NOI and Jonathan accountable for in he last admin?

You can hold them accountable for overplaying their hand, and for failing to understand that economic development without mastery of politics is a recipe for disaster. The Goodluck administration tried and did deliever, but failed to play politics the right way

tbaba1234:
No one said Obama lacked the will to nominate.

Here, NOI is saying there was no political will to save. Meaning, the government did not take saving seriously.

Obama has already nominated Merrick Garland, but the Congress has refused to give him a hearing, not to talk of a confirmation. In 1989 President George Bush Snr got elected on the basis that he would cut taxes, but when the congress became dominated by Democrats, they made sure that he could not accomplish this. At the next election, he lost to Bill Clinton, for failing to fulfil his promise. Did he lack political will. Infact he went on live tv shortly after his election, and stated the famous "READ MY LIPS, NO NEW TAXES" speech. Governance is not a bed of roses

tbaba1234:
This is an indictment of the government, she served under, not Amaechi.

She said, there was no political will to save. Who does the saving? Is it Amaechi or the federal government.

Obama is currently being denied his right to nominate and confirm a supreme court judge, by the Republican congress. Will you hold Obama responsible for that. Remember the President was forced by a judgement from a federal high court to release the funds.

It was indeed a big shame, the attitude displayed by the FG today, in their attempt to stop the group from being heard by the government. They should not forget so soon, the efforts of the BBOG in getting the President elected.

omenka:
What does she want us to do with this admission when the deed is already done??

There is no admission of guilt in her statement. She merely stated what she has always said: That the governors and some members of political parties frustrated the efforts of her and the executive to save for the future. The only thing she did was to leave that part out. It is inconsequential to mention the names of Fashola and Amaechi in a lecture at an American College

Mynd44:
He might get 2/3 in the senate. He cant get half from the HOR. Not with Gbajabiamila as Majority Leader there

He will get it in the HOR. Political survival in the legislature is more important than scoring political points and salvaging the lagos leader's pride. Gbajabiamila can only try

I am suprised that most people don't know that Saraki must have thought out every angle of this plan, and probably has a contingency plan. Those who think that Saraki will not be able to muster the required 2/3rd majority needed to cancel the President's veto, and thus sign the bill into law, should think again. The fact is that Saraki is here to stay.

I am.suprised that most people don't know that Saraki must have thought out every angle of this plan, and probably has a contingency plan. Those who think that Saraki will not be able to muster the required 2/3rd majority needed to cancel the President's veto, and this sign the bill into law, should think again. The fact is that Saraki is here to stay.

Mynd44:
It is not treason. It is comical really.

The senate has forgotten that laws are not retro-active meaning even if they get that bill signed, it does not apply to Senator Saraki's trial.

Plus the President is not going to sign, they can't get 2/3 of the HOR to effect a veto.

This is a waste of legislative hours

That is where you are completely wrong. Saraki will get the 2/3rd majority needed to pass this into law. The Senate knows that if the President and the Lagos leader have their way now, nothing will stop them from trying it again. The Lawan group may not like Saraki, but they know that they don't have the clean slate to cast a stone at Saraki, and live to tell the tale

This is democracy at it's best. Politics is for those with valor and brains, not those with muscle and spit. I hope the HOR concurs with this, and not play to the gallery. Such laws will help limit the arsenal of the next administration, if they intend to play the same game as the Lagos National leader

karimusa:
I don't know why some people like living in darkness. Open ur brains for once. A president is seeking a way to facilitate trade between the 2 countries and ease the pressure on dollar and some wet brains are still vomiting rubbish...

At what expense. This deal, may be beneficial in the shortrun, but eventually this deal could become our most disastrous policy ever

Gentle2015:
...so, nothing for the local manufacturers? What about the exporters? Please how do we grow our economy with everything you've listed above?

At the end of the we shall be forced to accept Yuan as our legal tender. Maybe China are trying to....

That is China's gameplan. They did same with Zimbabwe, and now Zimbabwe peddles various currencies on their streets, while the Zimbabwe dollar is as worthless as toilet paper. When they struck out Zimbabwe's $40 billion dollar debt, Mugabe was rejoicing, and he thought he was the smarter one Fastforward to present day, and see who is the smart one

This government is playing with fire. The Chibok girls saga was the Achilles heel of the last administration. The President should know that the whole world is watching

The Ekiti state govenor is right. This deal is disastrous and could destroy our economy. This deal could turn us to the next Zimbabwe. The President should have a rethink. Even the IMF chief warned us, but the FG disregarded her advice and has gone ahead in it's desperate attempt to produce economic magic. May God save us

Though i disagree with Oby on so many issues, i have to say it is unfair of the FG, to treat the BBOG in such a manner. The group was very helpful and was instrumental in President Buhari's electoral victory. They should be accorded some respect and should be given atleast a chance to air their views. If not, then this government is being hypocritical and ungrateful

Ever since the announcement by the FG that the Chinese Yuan will be allowed to flow freely amongst the Nigerian banks in a currency deal, i have being reaching out to varuous friends(and even foes), in a bid to understand the implications of this deal to our economy in the short run and the long run. After much of my research i have finally come to the understanding that it is indeed a bad deal. The deal is synonymous with the President's earlier shoddy quick-fix monetary flops that all ended up making the Nigerian economy worse off.
According to various economic experts the deal is a win for us because it would help to take off the pressure of the dollar on our Naira and thus help stabilize our exchange rate, focusing more on the CBN official rate of N199/$1. This could, like the earlier domiciliary policy by the CBN, help in the short run, but could be disastrous in the long run. Many economists fear that this could lead to an overdependence on the Yuan, thereby destabilizing our Naira. Also there is the issue of our markets being overrun with Chinese standard and even substandard goods. This policy, like all other policies by the President, is aimed at fixing the monetary aspect of our economy, while neglecting the productive aspect of our economy. It is like a farmer who instead of tilling the land, and then sowing, wastes his time in only stocking his home with all manners of seeds. Another issue which most economists fail to look at is the aspect of foreign business relations. Quite given the Chinese are prevalent in mass production and some level of technology, but they are poor in innovation and planning. There are countless reports on CNN, ALJAZERA and even CCTV on the inability to see and forecast ahead. The Chinese economy is witnessing a slowdown and is even expected to fall lower in the future. This slowdown has been attributed to their poor planning and inexperience in financial intelligence. It would be very dangerous for us to rely on the Yuan, in light of this, for if it is not as stable as the dollar. If the Yuan experiences a crash like the Russian ruble of the eighties, then our economy will go into shock.
Another aspect is the ignorance of our government on the importance of the JP Morgan's influence. According to some experts, it has been said that unlike the western listing firms, the Chinese will not direct our spending and allocation of resources to projects. This has been said to be a breakaway from colonialism. But is that really true. Would it be wise for foreign investors to drop money into the laps of a 3rd world country, without knowing or directing what it is used for.
Another very critical aspect is the attitude of the Chinese and their gameplan. The Chinese hope to spread their Renmibi and Yuan into other countries, as a way of causing problems for the US. They are not really looking at the advancements and developments of developing and underdeveloped countries. So should be looked and treated with caution. I would have liked for the government to treat the Chinese with the same yardstick as used by the previous government of GEJ. The administration of President Jonathan did countless deals with the Chinese, but never one as one way and precarious as this current deal. The Zimbabweans previously did something like this, by swapping their Zimbabwean dollar with the Yuan, but so far it has not produced anything successful. Infact, it can be argued that it has further complicated Zimbabwe's monetary policy and has worsened their economy.
http://thediplomat.com/2016/01/zimbabwe-chinas-all-weather-friend-in-africa/
The Federal government, should be very careful with this deal, and should balance it with shoring up our balance of trade with the Chinese, by making sure that our productive capacity is improved, and some of our goods make it to the Chinese markets, for if not, then this deal will backfire and be another flipflop by the FG. The FG should borrow from the previous administration's attempts to improve the local productive capacity of our country, instead of constantly looking for a foreign quick fix to our problems. That would be disastrous

This man is about to crash our economy like Mugabe did Zimbabwe, with his yuan swap, and people are still sharing his selfies

Goke7:
Supplementary budget? Excuse me are you aware that the present budget isca deficit one, so you want the debt profile to go up, no need of supplementary nonsense, the lawmakers should reallocate the money they have allocated to town halls and keks marwa to the needed infrastructure of relevance. Thanks

The senators, be they Northerners or Southerners have every right to navigate the budget in the allocation of resources towards needs that will help their reelection campaign. That is politics

More talk without action will make Mr President appear to foreign investors and organisations, like a useless big drum with no water in it. The Executive should be spending their time in the situation room putting their heads together on the best way forward to nip this in the bud once and for all, instead of playing the Gen Patton card. The chinese are not stupid, and they already know if Buhari is serious, or if he is just being a clown.

I don't think there is much of a disagreement. The NASS should just take a united front and go along with the Senate's decision. The Executive should pass the budget into effect, and should include in a supplementary budget, anything it feels is important to its developmental projects. What it should not do, is create confusion and chaos in the legislature. This would be totally unforgivable, and would in the future, come around to bite them.

omowolewa:
Which kind death be that? I reject it In Jesus Name.

See this man o! My name no dey CBN list, I no follow Dasuki chop money, Société Générale ni give me loan! Wetin con be my own?

You and your friend are wrong. Dogara is more subtle, but Saraki is more meticulous, strategic and more dogged. Saraki is a far better politician than Dogara. Dogara got to the post of speaker by chance and luck, Saraki got here by planning, scheming and determination.

omowolewa:
You nailed it!

There is no need drawing an unnecessary battle lines out of petty issue which should have been party Affairs ordinarily. If you are against your party [APC] you're against them.

You and your friend are wrong. Dogara is more subtle, but Saraki is more meticulous, strategic and more dogged. Saraki is a far better politician than Dogara. Dogara got to the post of speaker by chance and luck, Saraki got here by planning, scheming and determination.