₦airaland Forum

ogwumgbe:
Your write up indicates that your ignorance cannot be compared with human species except monkeys. In your myopic reasoning, Chinese investing all over the world would have only stayed back in China and develop their Country. Some people are not worthy of any attention at all. You idiots that hate igbos out of nothing but just pure jealousy, I prefer to be in one Country with Bokoharam than to share the same Country with you sworn enemies of igbo progress. Just go and sit down, lily livered idiot that have never tried commom coup despite their many high rank army officers. Region of weeping Generals talking where igbos that faced the world powers in the war are talking. Just go and sleep in your brown roof infested cursed under developed towns. Shameless idiots that cannot not reclaim kwara State coming here to make noise, If I were you, I would not venture open my mouth. Idiots that their own person Abiole that won the election point black were denied Presidency in broad day light yet they couldn't do anything about it not to talk of even to venture into war. Cowards pretending as Peace makers.

National Publicity Secretary of the Peoples Democratic Party, PDP, Kola Ologbondiyan, has said Saturday’s visit by governors elected on the platform of the All Progressives Congress, APC, to former President Goodluck Jonathan has further affirmed that Nigeria, as a nation, is better under its government.

The publicity scribe who stated this in Abuja said the visit, “which is a clear endorsement of the acceptability of the PDP administration, also indicates that the APC, in 2015, only created artificial symbols of mis-governance, corruption and other alleged misgivings just to discredit our party and grab the levers of power to achieve their selfish desires.”

According to him, “the Jonathan administration succeeded in office basically because our party understands the nuances of our nation, which we translated into people-oriented polices and programmes, in line with the manifesto of our party, to make life comfortable for Nigerians.”

He continued: “This visit to Jonathan by the APC governors is a direct acceptance of the successes recorded by our party in building a strong nation with a virile economy that was rated as one of the fastest growing economies of the world.

“The visit is therefore a subtle step by APC governors into the corridors of the PDP in agreement that our party holds the solution to the myriads of problems brought to our nation by their APC and President Muhammadu Buhari.

“The PDP therefore receives the visit by APC governors as an apology by the APC to our party and Nigerians over the lies, beguilement and other irresponsible allegations deployed by the APC to grab power, only to lead our nation on a journey to nowhere.

“We therefore caution Nigerians to be watchful of the antics of the APC that have failed in governance and the management of its own affairs.

“For us in the PDP, the unity, stability, progress and development of our dear nation remain paramount and as such, we will not allow the failed APC and its pranksters, who have betrayed the trust of Nigerians, to mislead them once again.”

Some governors of the ruling party including Atiku Bagudu of Kebbi state and Dave Umahi of Ebonyi state were in Jonathan’s Abuja residence, Saturday, to felicitate with him on the occasion of his 64th birthday.

It is with a very heavy heart that I received the confirmation that for the second time in five years, Nigeria has entered into another recession. Heaviness of heart, because this could have been avoided had this administration taken heed to patriotic counsel given by myself and other well meaning Nigerians on cutting the cost of governance, saving for a rainy day, and avoiding profligate borrowing.

Yes, the COVID19 pandemic has exacerbated an already bad situation, however, we could have avoided this fate by a disciplined and prudent management of our economy.

Be that as it may, it serves no one’s purposes to quarrel after the fact. We must focus on solutions. Nigeria needs critical leadership to guide her back to the path of economic sustainability.

We cannot afford hand wringing and navel-gazing. We must act now, by taking necessary, and perhaps painful actions.

For a start, the proposed 2021 budget presented to the National Assembly on Tuesday, October 8, 2020, is no longer tenable. Nigeria neither has the resources, or the need to implement such a luxury heavy budget. The nation is broke, but not broken. However, if we continue to spend lavishly, even when we do not earn commensurately, we would go from being a broke nation, to being a broken nation.

As a matter of importance and urgency, every non essential line item in the proposed 2021 budget must be expunged. For the avoidance of doubt, this ought to include estacodes, non emergency travel, feeding, welfare packages, overseas training, new vehicle purchases, office upgrades, non salary allowances, etc.

Until our economic prospects improve, Nigeria ought to exclusively focus on making budgetary proposals for essential items, which include reasonable wages and salaries, infrastructural projects, and social services (citizenry’s health, and other human development investments).

Additionally, we have to stimulate the economy, by investing in human development, and increasing the purchasing power of the most vulnerable of our population. Only a well developed populace can generate enough economic activity for the nation to exit this recession.

We must invest in those most likely to be impacted by the effects of the recession, the poorest of the poor. As well as stimulating the economy, this also ensures that they do not slip further into extreme poverty.

For example, a stimulus package, in the form of monthly cash transfers of ₦5000 to be made to every bank account holder, verified by a Bank Verification Number, whose combined total deposit in the year 2019 was lower than the annual minimum wage.

Now, how will this be funded? By more profligate borrowing? No. I propose a luxury tax on goods and services that are exclusively accessible only to the super-wealthy. A tax on the ultra wealthy to protect the extremely poor.

A practical approach to this is to place a 15% tax on all Business and First Class tickets sold to and from Nigeria, on all luxury car imports and sales, on all private jets imports and service charges, on all jewellery imports and sales, on all designer products imported, produced or sold in Nigeria, and on all other luxury goods either manufactured, or imported into Nigeria, with the exception of goods made for export. The proceeds of this tax should be exclusively dedicated to a Poverty Eradication Fund, which must be managed in the same manner as the Tertiary Education Trust Fund, or the Ecological Fund.

I further propose that a 1% poverty alleviation tax should be legislated by the National Assembly on the profits of every International Oil Company operating in Nigeria, and international airlines doing business in Nigeria, which should also go towards the proposed Poverty Eradication Fund.

It is inhumane for us as a nation to increase the cost of goods and services that affect the poor, while keeping the cost of luxuries fairly stable. We must flip this, and flip it immediately

And above all, Nigeria must stop borrowing for anything other than essential needs. Again, for the avoidance of doubt, borrowing to pay salaries, or to engage in White Elephant projects, is not an essential need. This is particularly important as we need cash at hand, because the world and our economic and development partners are also focused on helping their home economies overcome effects of COVID19. We must be our own saviours.

The more we borrow, the more we will need cash to make interest and principal payments, and the less cash we will have to make necessary investments in our economy and our people. If we keep borrowing, we stand the risk of defaulting, and that will make recession a child’s play, because we will lose some of our sovereignty.

I urge the administration of President Muhammadu Buhari to swallow its pride, and accept its limitations, so that they can open their minds to ideas, without caring who the messenger is. For as Deng Xiaoping said “It doesn't matter whether the cat is black or white, so long as it catches mice.

“Make them just lock both of them for one room for days

greatmarshall:
I want to do my own give away o

greatmarshall:
I want to do my own give away o