₦airaland Forum

prettyboi1989:
y should u be so glad to profit from a system where which its founder was jailed for scheming people. well i guess money is everything to u, the end justifies d means so far u are making money whether by hook or by crook right?
Dont know why people will be supporting a system that lacks credibility. just waiting to hear people wail when the lose their hard earned money to this scheme.

What is this MMM thing all about? Where do they get the money and pay people.

'VOODOO' ECONOMIC POLICIES: Sanusi warns Buhari to retrace his steps

BY: MADUABUCHI NMERI­BEH (KANO) 25-08-2016 05:17:30 AM

· Says Govt. creating forex billionaires
· Cautions against ‘unlicensed drivers’ of the economy
· Faults FG’s borrowing to pay salaries

The Emir of Kano, Alhaji Sanusi Lami­do Sanusi II, known for saying his mind very frankly on various na­tional issues, has reviewed the economic policies of Pres­ident Buhari and warned that the government was moving in the wrong direction.

He said the Buhari ad­ministration was being run by “voodoo economists” who were running the Nigerian economy like unlicensed drivers behind the wheels of a brand new car so it would be idiotic to expect that such unqualified drivers would not crash the economy.

Sanusi, a former Governor of the Central Bank of Nigeria (CBN), warned of an impending economic doom in the country if President Buhari continues with the current economic policies which he described as anti-investment and detrimental to national development.

Sanusi spoke in Kano on Wednesday during a lecture he delivered at the second day of the 15th Joint Plan­ning Board and the Nation­al Council on Development Planning organised by the Ministry of Budget and Na­tional Planning, in collabo­ration with Kano State Government.

His words:
He said: “The first thing I would like to say is that there are many voodoo economists parading around and many of them are not economists, they are demagogues.’’

Sanusi, who delivered a lecture titled: “Nigeria - The Search for a New Growth Model”, declared that while the immediate past admin­istration of Jonathan created “oil subsidy billionaires”, the Buhari government was churning out “forex billion­aires.”

He said: ‘’If this govern­ment continues to behave the way the last government be­haved, we will end up where Jonathan ended. You may not like it, but that is the truth. Any system that allows you with one telephone call, you make N1 billion without in­vesting one kobo, that sys­tem is wrong. It is unsustain­able, no matter how you think about it positively.

“We created billionaires from oil subsidies in the past. We are making the same mis­take with forex subsidy,” he said in an apparent reference to the dual exchange rates in operation at the CBN.

“As an Emir, I can sit in my garden and make phone calls to access $10 million at N197 per dollar and then sell it off at nothing less than N300,” he said.

After taking an overview of the economic policies of the Federal Government, Sa­nusi concluded that nothing has really changed under the administration of President Buhari – while his govern­ment continues to blame the previous administration of Jonathan for its current woes.

Sanusi lamenting that the incumbent administration had not learnt from the mis­takes of those before it.

Sanusi’s knock on the eco­nomic policies of the gov­ernment came a day after the Manufacturers Associa­tion of Nigeria (MAN) and other members of the Or­ganised Private Sector (OPS) had accused the incumbent administration of grounding the economy.

The OPS operators assert­ed that the economic policies of the government had led to massive job losses, closure of over 272 companies and trap­ping of $10 billion overseas.

Sanusi advised the mem­bers of President Buhari’s eco­nomic team to retrace their steps and formulate policies that can grow the economy, pointing out that the current economic situation is forcing untold hardship on Nigerians.

According to him, the current economic policies and their inconsistency do not favour businesses and in­vestments in the country. He advised the Federal Govern­ment to embrace the Lagos State Government’s model to bail the country out of its cur­rent economic woes.

He lamented the overde­pendence on oil, pointing out that more investments in ag­riculture, power sector, man­ufacturing and infrastructur­al development and attractive incentives to investors will enhance the growth of the nation’s economy.

The eminent monarch and economist accused the government of making the same mistakes as its predeces­sors and refusing to listen to the wise counsel of concerned Nigerians.

He continued: “I just saw that we are always blaming the past administration, but we have also made mistakes in this administration. The problem is that there is noth­ing we are facing today that we do not know how it hap­pened. That is the truth.
“We made mistakes, many of them deliberate. We ig­nored every single warn­ing. Not building roads, not building power plants and other necessary infrastruc­ture that can boost the econ­omy and the development of the country.

“We are spending 30 to 40 percent of every Naira we earn servicing debts. The new borrowings were simply recy­cled into much higher recur­rent expenditure. The Gross Domestic Product (GDP) was growing largely due to con­sumer items.

“In 2010 when I was Gov­ernor of the Central Bank, the government increased mini­mum wage to N18, 000. I pro­tested but they went ahead and borrowed money to pay. In 2012, as Governor of CBN, I said that this is an unsus­tainable wage bill. We need to reduce the size of the pub­lic service, which fell on deaf ears.

“I believe we have started retracing our steps and we have to retrace our steps. If a policy is wrong, it is wrong and it has to be changed,” he stated.

Sanusi urged Nigerians to bury ethno-religious sen­timents and put heads togeth­er in salvaging the economy, adding that, ‘’those who are clamouring to break up the country because of oil should desist from that agitation as oil would soon be nothing. The world is already devel­oping alternative sources of power, like solar energy, bio-gas and a host of others.”

Taking up the drivers of the nation’s economy, Sanusi described them as unlicensed drivers who are behind the wheels of a new car.

Sanusi said: ‘’If you take a brand new car and hand it over to a driver who doesn’t have a license to drive it and you are involved in an acci­dent, you can’t say you are sur­prised, unless you are some kind of idiot.”

He urged the government to revisit its borrowing style, as he said: ‘’The funny thing is that you did not stop bor­rowing; all you have to do is borrow the right amount and apply them to the right purposes. It doesn’t matter whether it is consumption spending or investment de­mand. GDP will grow.

‘’We made a choice of what we wanted. Do we want votes and popularity or we want palliatives. So long as people are getting high min­imum wages, they will keep quiet about all the ills in the economy that we have been talking about,” he said.

Sanusi said that those who are advising the government not to devalue the naira were benefitting from it.

According to him, ‘’We are not devaluing because if we do, the poor people will suffer, the people profiting from this are the people telling the gov­ernment that if you devalue people will suffer. Meanwhile, they all bought the dollar at N179 and price their goods at N300.The poor pay the price of a devalued currency, while the rich skim off the profits.’’

http://www.authorityngr.com/2016/08/-VOODOO-ECONOMIC-POLICIES--Sanusi-warns-Buhari-to-retrace-his-steps/

Toeyoursea:
The banks violated the TSA agreement and they should be made to face the wrought of the law. The price hike is the price the government will have to pay for doing the right thing and I think it is worth it. They will learn to take Nigeria serious next time; THE ERA OF IMPUNITY IS OVER.

Foolish. Soon it will hit hard those that feed you by then your eyes will clear.

Osyabj:
jonathan and pdp will go down in History as the MOST corrupt criminal organization in the history of the planet. Yet suppoters of these theives are wailing..."people are hungry, dying"

If 170 million Nigerians were to share this $10 Billion dollars or $2 Trillion Naira theft by this pdp/jonathan front, Ms Maduake, alone, all of us will get about N2,000,000,000.00 (Two billion naira) each!!! will there still be hunger in the land? ofcourse not!!!

Shatap! Zombie! That was how you believed a certain man who did not have school cert will make $1 to N1 for you and you voted for him as you'd President. If Buratai can buy a mansion in Dubai worth millions of dollars with his salary and savings, this woman also bought hers with her salaries, allowances, savings and loans. Zombies like you are the reason why they think every Nigerian is a fool just like all of you.

You wrote nonsense. Zombie!

Pavore9:
APC influenced Fayose and Wike to get Sheriff on board.........see reasoning!

They got him on board yes,his in-law and other Brother APC leaders felt it's their opportunity to destroy PDP and Sherrif started dancing to their tune and the leadership of PDP noticed it immediately, that is why they want him out. If I ask you to come and work for me and later I said I don't want you to work for me again, what should u do?

What op said is true especially about customer care in telecoms. In MTN, last year they handed over half of their online customer care to ISON Bpo, an Indian company. They slashed their salaries by 50%, moved them to Ibadan, Ilorin and Abeokuta, there they also increased their working hours. The remaining customer care agents in Lagos(Apapa, VGC and Matori will also be handed over to same ISON BPO by Oct 1 2016. The contracts of CNSSL & MACTAY which all MTN's online customer cares are under will expire by 30th Sept 2016. So those who can accept salary of N47k will go with ISON to Ibadan, if you feel the money is too small considering about N100k and little above it you use to earn then you resign. Many of these customer care agents have worked for MTN up to 10years, some 8yrs, some 6yrs. So op is right, don't make any career with customer service in telecoms in Nigeria. They will use you, promise you they will make you a full staff from contract staff based on your performance but they will never do it. When they feel they are OK they will dump you. My cousin who n MTN has spent 9years in Apapa call centre and now she is regretting.
She should've followed her husband's advice earlier and resigned because there is no future in the job.

YBNR:
Call 0806 226 2215

Thanks. Will call you.

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Kindly post your contact so we can talk if you can do the job well

Bad market for Sherrif and his PDP faction

Hello guys, I need specialist in Lagos who can convert my Mercedes Vito bus from Right Hand Drive to Left Hand Drive with no issues thereafter.
Kindly post your contact so we can talk if you can do the job well.

jahsharon:
This guy is a nonentity and he thinks we are also. Tinubu led ACN, ANPP, CPC members to persuade IBB, Obasanjo, Abdulsalam, new PDP, e.t.c to come and work together and form the APC. Remember that Shagari, IBB and Obasanjo were very bitter enemies of Buhari, but Tinubu brought them together. The then new PDP consisting of Amaechi, Saraki, and co did not beg to join APC, instead APC persuaded the new PDP and others to join them.

So, you fool should have known that if you go and persuade someone to work with you, you cannot turnaround and ask that person for bribe again. Only Jonathan has done that in the history of the world, he appoints you into a position and ask for monthly kickback for you to remain in the position.

****Do you know this man, have you in your life met him before that you are calling him a fool? Because of social media **** you hide behind internet to curse and call a man who is old enough to be your father a fool meanwhile what the man said does not concern you. Na your Papa form APC? Why can't you make your own points why you think what the man was saying is not true if you so much knew how APC was formed.

Na lie. Who does not know EFCC and their media propaganda. Asi ocha!

mrkayusfit:
I really pity IPOB yoots who are pro PDP They criticize and abuse Buhari thinking the PDP is their prized possession. The northerners will always have each others back unlike the divided south. The Biafrans with all their hatred for buhari and northerners at large have no choice than to vote for a northern PDP candidate in 2019. It's a win win situation for the north. The question is when will it be the turn of the igbos? Will they continue to be a political pawn in the hands of every region? Time will tell

All those years North has ruled Nigeria, what have you the Northerners gained from it? You people still come to igbo land to serve the Igbos, polish our shoes, do gateman for us, do drivers and other menial jobs for the Igbos so what is your gain?

pedrilo:
whatever gave nigerians the guts to vote out a govt with okonjo iweala as the head of economic team still amazes me.
#singin fela
9ja,
u go suffer,
u go taya,
u go quench
u go shiit for bodi u no go know

It's ignorance, selfishness and hunger. Have u forgotten how Buhari promised them heaven and earth including free meal, paying unemployed citizens and promised them he will make $1 to N1. No be all Nigerians were deceived by all those I mentioned, the proudly 5% did not vote the Dullard coz they already know his incompetencies.

It is good this case is reopened. Also Funsho William's case should be reopened too.
We know the reason behind the reopening of this case. Zombies will say one after the other, after Bola Ige's case, Funsho's case will follow. They forget that Police can handle many cases as these at same time, that's their Job not the Precidency so no reason for keeping Funsho's case to a later date.
Bola Ige - pointing to Omisore, Funsho Williams - Pointing to Tinubu.

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It has not started yet, APC are the people that will bring themselves down. This is just the begining. Law of KARMA never fails.
The evil that men do live with them no longer after them.
Dino has been a a radical politician who talks hard at a slightest provocation and when he use to insult GEJ, Patience Jonathan and other PDP members who did not even argue with him not to talk of calling him "MAD DOG" you people were rejoicing, calling it "CHANGE". Now the CHANGE is CHANGING direction of the arrow.

Very soon news from EFCC will be like:

-$150m from Dasuki's aide traced to Dubai account belonging to Dino Melaye
-N700m cash discovered in Dino's guest house
-A 5star Hotel in China belonging to Melaye was built in 6months from Sept 2015 March 2016
-Dino Melaye's aide was caught with $500,000 cash at Lagos Airport

Trapnews:
It was a big gamble because there was no better candidate during the last election. If at the end of 2019, Buhari failed to deliver, we will try someone else. Yes! we will continue to try and try until we get it right!! GEJ had his chance and he blew it, lets hope Buhari does not regret too. That's the truth wailers should deal with it

You see una life? Tha is why we call you people ZOMBIE!!
A wise man does not gamble especially with issues like this. He analyses his options to arrive at the best one that suits his needs. On cases like choosing who becomes your president, you saying you people were gambling showed really how foolish all of you were. If you want to choose a good leader, there are things you have to check and consider like past recoords, level of education, level of exposure, integrity, age etc. Of all these I mentioned, your Buhari failed in all but due to the fact that you people do not know better, you felt the only option you have was to gamble, you think it's Baba Ijebu. Now you have seen the result of your gambel so enjoy it.. You people keep displaying high level of ignorance everyday.

FlamesD:
Was going through twitter and stumbled on this tweet by the APC handle does the party still feel the same way two years on ........

The naira as at today is the third worse performing currency in the world

https://www.thecable.ng/its-official-naira-now-africas-worst-performing-currency-of-2016



The Federal Govt has declared that it has no money for capital votes , the much publicized budget of "change" has only seen about 3 % implementation.
But I thought they found 1 billion Dollars in the soak away? What happened to the pseudo loot recovery

http://www..ng/2016/07/15/dont-money-release-capital-projects-fg/




Food scarcity is at an all time high Kano indigenes are already swapping their children for bags of rice, not a grain of corn or tomato seed was provided to farmers . Fertilizer subsidy taken away and handed back to ex-military men the entire work done by Dr Akinwumi Adeshina has been destroyed in less than 1 year and the ministry of Agriculture has been reduced to a unit for grass importation.

http://ynaija.com/man-uses-son-collateral-bag-rice-kano/




For over 1 year the man did not construct a single kilometer of road the only construction to his credit was a helipad in Daura.

http://www.thebreakingtimes.com/buharis-daura-helipad-could-cost-nigeria-500000/

APC promised 20,000 MW of electricity, they doubled tariffs but Nigerians end up paying double for darkness

http://www.pmnewsnigeria.com/2015/02/02/well-generate-20000mw-of-electricity-in-4-years-says-buhari/

In healthcare not even a single Ward wad added to any Hospital in Nigeria, except for the fact that the one who promised no to go abroad for treatment went to the UK to treat an ear infection.

The APC promised to create 3 million jobs per annum sadly in just 10 months of their govt 4.3 Million jobs were lost according to the National Bureau of Statistics.
The only job APC created were the illegal spaces they created for Children of their leaders in CBN
FIRS etal


Nigeria dropped from No.1 Investment destination in Africa to No. 27 before South Sudan. How we started competing with South Sudan is something that has defied any explanation, Africas Biggest economy shrank from a GDP growth of about 7% to -0.36%, the fastest decline in the world since record began sending us into recession for the first time in 3 decades.

http://www.vanguardngr.com/2016/03/22-45m-nigerians-unemployed-job-loss-hits-710693/




APC will be quick to shout that PDP stole all the money but let's check the facts on ground

Buhari was handed over:
- $30billion in our Foreign Reserves,
- $2.5billion Sovereign Wealth Fund,
- $1.4billion in the ECA,
- $4.65b back taxes from NLNG.

- $2.1billion world bank loan.
- $850million Grants from UK, USA and Europe.
- Excluding crude oil sales, Joint Venture profits, Royalties, Income from Customs, NIMMSA, NPA, NACHO ......
- 3trilion on TSA


The APC has no excuse for such a terrible score card,

APC leaders are more interested in propaganda and media crucifixion than delivering on their promises , sadly many Nigerians have become willing vessels for promotion of falsehood and
Strangulation of the truth , it is only in a country like Nigeria that man like Oshiomole a leader in the ruling party will blame a Former President for his inability to visit this village despite his party being in power for the second year !

Today those who voted because of the 5000 fake monthly stipend have seen the consequences of their actions, those who used their kids as poster children for the Free School meal are witnesses of the free chicken and fried rice being shared to children in public school's.

As Nigerians continues to bear the excruciating pains of the inhumane policies of the APC especially the conscienceless increase in pms & kerosene pump prices, gluttons like Femi Adeshina who are now conversant with eating free food at aso rock cafeteria must refrain from further provoking citizens with unguarded utterances and foolish blabbing.

Nigerians are strong people, they have survived many tyrannical regimes in the past and they will live to tell this story, I just hope we will learn this time and take this tweet advice from the APC.

May the Monarch of Heaven continue to Bless our great Nation Nigeria.


Main Source: www.twitter.com/APCNigeria

Can someone please dispute these facts. This is what I call constructive criticism not verbal abuses that is so common in this forum.

They have all gone into hidding, Omenka, Obailala and co, were una dey abi them never pay una or dem never send to una wat to post?

We said this back in 2015 before the election but Nigerians did not listen. GEJ said it that the choicr if moving this country forward or backward lies in the votes of Nigerians, that you better go for "TRANSFORMATION" instead of "CHANGE" because change can be positive or negative. My greatly s worry is that many people after seeing what is s happening still lie to themselves that Buhari is doing well. Nigerians should bear the hardship and suffering coz that's what they chose.

wirinet:
It seems hatred has destroyed the neurons of some people. Please show me where "verbal abuse" is in our laws, sections and chapters. Don't forget to quote the punishment.

Please do not twist the story making rounds on social media. Mr Dino Melaye was alleged to have attempted to physically assault Mrs Tinubu but was restrained by colleagues, while Dino accused Mrs Tinubu of verbally assaulting him by calling him a mad dog. Notice the difference between verbal and physical (attempted) assault.

I weep for the youths of this country, the so called leaders of tomorrow. It's a pity that many Nigerians are so misinformed and unexposed that they do not even know their right, punishable offences against them and how to tackle such cases and you are an example. Since Mrs Remi Tinubu knows Dino assaulted her, let her sue him.

aressssa:
[s][/s]





Stop trying to convince me that you love wife, women beater and rapists because we know this already and the fact that such is allowed in your village doesn't mean it's allowed in other places..

Adamu. How does what you wrote here relate with what I said that you quoted. That's why you could not pass use of English. You have problem reading and understanding what you read. It is because of you people's ignorance and biased mind emanating from the fact that you reason with your anus that made you voted for this Dullard and this useless APC party of undilluted rogues. See how they are bringing shame to Nigeria, disgracing Nigerians in diaspora. Since to you, Mrs Remi Tinubu is right, may ur son marry a woman of same character with Remi Tinubu, if you don't say "Amen" to this, Shame unto u!!

aressssa:
And people like you worship crazy men and habitual domestic violence offenders who beat up and rape women...


Birds of the same feathers..

Zombie, I don't blame you. Do you know what is called "verbal abuse"? Don't you know it's a punishable offence like physical abuse? They abused each other and if ther's any disciplinary action that would be taken it should be for both of them. What goes around comes around. Mrs Tinubu has been disrespecting her fellow honourable members in the floor of the Senate feeling her husband is what? You called someone's father and husband, to you nothing is wrong with that and when you were paid back with your own coin you started crying. May your son marry a woman that has same character like Mrs Remi Tinubu, if you insists that Remi Tinubu is right, shout " Amen" to this.

wirinet:
So because Mrs semi Tinubu insulted Obanikoro in 2004, Dino Melaye should therefore retaliate in 2016 by attempting to beat her up and threatening to rape. I do not really understand the point of the post.

How can u understand when your mind is full of envy and wickedness. People like you who have chosen to worship your fellow human beings are d problem of this country

Recently a lot of people are advertising of needs for dump trucks of different sizes asking owners of such vehicles to hand the management of the trucks over to them as they always have steady jobs for these trucks which they pay the owner certain amount weekly or every month. Some promise to pay returns as high as N400k to N500k monthly for a 20tons dump truck.

Please is there any of us here that have handed his/her truck over to any of these guys and what's your experience with them like?

IamLeslie:
The problem is our Legislature does no the extent of the power they possess ,, that is why the deputy senate president can write to the Un nd Eu when they possess all the power they need .. Why would the Ag Fed refuse honouring the invitation of the senate in the first place .. The senate have all the constitutional powers to summon anybody in the country to answer questions ,, even the president .. So I am sure some persons need to educate our quack nd illiterate legislators so that there can be true federalism ,, seperation of powers / check and balances ..

Tell them. My biggest fear in this country is the youths. They don't read they don't learn. The rely on information, hearsays and lies gotten from some old politicians who twist stories to favour them. Can you imagine somebody here saying NASS has no right to summon AGF, I wonder who are now the leaders of tomorrow, this class of present youths? I bet you that 90% of people in Nigeria today between the ages of 18 to 45 do not know the system govt being practiced in Nigeria today.

Omonigeriarere:
Who told you that Fashola is not doing his work? Since you know the terms of contract, why can't you show us the the terms of payment that made Contractors to leave the work abandoned ?

A government has not paid up to half of a project and you are attributing the project to such administration: where did you get your logic from? It is high time you address the analysis done with figures and stop blabbing.

You are still doing blind arguement, that's the major issue in Nigeria today. The youths have refused to learn.

rhymaholic:
I hope his visit doesn't distort the case in court. Personally, I see no reason why he should even honour the invitation in the first place. If they arm -twist him to withdraw this case, then I'd finally agree that we are not ready to the right thing in this country.

Did u study "Government" as a subject in secondary school? If not go and read "Principles of Govt" to understand fully the powers of the Legislature, the meaning of true federalism and the principles of Separation of Powers. This is one thing Buhari does not know because he did not attend secondary school.
When the AGF said he will not appear before the Senate, I was laughing because he thought the legislators do not know their powers but after what happened yesterday, no be person tell am say there's fire in the mountain.
Senate summoned him not for anything but for explanation just d same way Kachikwu's and other ministers were summoned but he started showing to Nigerians that NASS has no right to summon him. He for stay house na..

Omonigeriarere:
I don't know why you are arguing blindly back and front. A project was estimated to cost 167bn: 25bn was paid to contractors in 2014 for the project to take off: 50bn was projected in 2015 budget to be paid to Contractors which contractors abandoned due to inability of government to pay.

So, the total amount being paid out of 167bn could have been 75bn assuming previous administration paid 50bn without owing the Contractors which is not even half of the total cost of project.

So, how can a government that do not pay for the half of a project claims the glory of such project? Irrespective of political party, we need to be thinking objectively.

You see your life? Who is arguing blindly here? Do you know how to execute a contract, do you know the terms of payment as contained in the agreement signed? We are talking of initiation of a big project like that and set it going which even OBJ could not do not who is discharging his duties as he suppose by making the contractors' money available to them to continue from where they stopped. Why is it difficult for our youths to comprehend simple process of doing things. As far as am concerned Fashola is only doing his work, nothing more.