₦airaland Forum

FG pursuing wrong economic policies -Sanusi •Laments suspension of NERC Board

http://www.tribune.com.ng/index.php/front-page-news/8950-fg-pursuing-wrong-economic-policies-sanusi-laments-suspension-of-nerc-board

Written by Leon Usigbe, Abuja
Thursday, 29 July 2010

CENTRAL Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido, says the Federal Government is not pursuing the right economic policies and, therefore, no amount of reform in the banking sector could revive the economy.

He also observed that the about N500 billion yearly subsidy on petroleum was discouraging investments in refineries apart from piling up debts for future generations of Nigerians to pay.

The apex bank’s boss, who made the assertion in an interview with State House correspondents just before the commencement of the Federal Executive Council (FEC) meeting in Abuja, on Wednesday, also regretted the suspension of the Board of the Nigerian Electricity Regulatory Commission (NERC), which, he said, had left the power sector without a regulatory body.

According to him, “we are spending N500 billion subsidies on petroleum products and nobody will invest in refineries if they believe that their business model is predicated on government subsidy. We are borrowing N500 billion on subsidies every year, we are borrowing money and we are leaving future generation to pay the debt and the benefits of these subsidies are far outweighed by the long-term cost to the economy.”

Sanusi, who spoke of efforts to recapitalise the banks and improve their balance sheets, pointed out that the capital market was recovering as government was making progress with reforms.

However, he observed that “the reality is that the government is not pursuing the right economic policies and nothing in the banking reform will fix the economy, unless you fix policy and I say this as an adviser to the government.”

He added that “what is happening is that there is a difference between the real sector and the financial sector of the economy. We are doing what we need to do on the banking system and the banking system is stabilising and with the Asset Management Corporation (AMCON) and once we recapitalise the banks it will improve the balance sheets of bank and the banks will be back up.

“The capital market, as you can see, has been recovering and the government continues to make progress as far as the reforms are concerned. Having said that, the financial system does not live in isolation, you have got to fix the issues of the economy and the CBN is not responsible for that.

“You have an economy in which you do not have power. If you don’t have electricity you cannot attract investors; you cannot improve production. We don’t have power, because the reforms that ought to have carried out in four years have not been done. We keep talking and talking and talking and we have not yet created the right environment and we don’t even have a regulator for power,” Sanusi noted.

Speaking specifically on power, he regretted that the NERC Board, which was suspended last year, was yet to be reactivated thereby denying the power sector of a regulatory agency.

“There is a regulatory agency, NERC, but the commission has been suspended for how many years? It’s not functioning. And how can you have a sector like power when you don’t have a regulator? It has been suspended for how many years?” he wondered.

He also advocated the deregulation of electricity as he noted that the current tariff charged in the country was too low and unsustainable.

“I am saying we have got to have a regulator; we have got to have good input for gas pricing. It will encourage investments, deregulate electricity prices, this N7 is a myth because nobody gets power at that price. Ghana is paying N22. If we increase it to N22 and you increase gas prices, investments will come into power. We have not done. That is the issue,” he declared.

Some people see this as a joke. They talk about other states and how many people Tinubu employ. In slavery, there was also full employment and some people were comfortable because they were house n1gers. That is why the whole of Nigeria will never move forward because too many people worship vagabonds like Tinubu.

You know what? Just watch how Tinubu is going to choke on this. People are boiling mad, none Lagosians are happy because he used you to get to where he is.

I am waiting for the tole both to open, people will just hear the ground shake when everything is blown up. People can only take so much.

I do not know why a true Lagosian will bury his head in the sand as if nothing is going on. Many people have become so selfish, they only look out for no. one ie themselves.

At the rate Tinubu and Fashola are going, Russian revolution is next.

* July 09, 2010

JOINT HOUSES OF THIEVES RULE A GREAT COUNTRY

Farouk Martins Aresa

When you have notable Nigerians as Professor Nwabueze calling for bloody revolution, while reactionary like General Danjuma that had spilled blood called for caution because it knows no friends or foes, those of us crying for change may not be crazy after all. But there are others that think we have the greatest Country in the world. No matter what our differences are about Nigeria, there is no greater place like home than African countries.

The debate amongst us usually fall along what Africa was when we were growing up and the state it is today. Those who grew up in the days of Nkrumah, Zik, Awo, Kenyatta and Toure may express some degree of satisfaction different from those that went through the tough time of Albert Luthuli, Mandela, and Joshua Nkomo. It is even a marked difference to the days of our children that have never known any good old days.

Whichever way we look at Nigeria, some people are counting their blessing while others see their lives as half empty. We complain about lack of power for electricity, there are far more people enjoying electricity than ever and the number of people who can afford constant supply either by generators or otherwise are more than the good old days. So if we are going by share numbers of people, ignoring those without, Nigeria made progress.

The number of cities, beautiful buildings and rapid road/transport system throughout the Country cannot be compared to the very few we had during the good old days. The big homes, highways, skyscrapers and the number of cars have never been greater for those that can afford to use them or live there. There are so many of these amenities that were not available in the good old days some of us talk about.

There are many people making more money than ever, even beggars do not take small change anymore. If the cost of everything including food and housing has gone up as a result, that is also true anywhere in the world. You cannot buy fish and chips or burgers for the same price you paid in the good old days overseas, so do not expect to pay less in Nigeria. People are spending money at restaurants buying assorted bush meat and fresh fish nonstop. May God never let us do without saki, abodi, edo, bokoto. If you do not have money, say so. That is a different problem jo.

Look at our educational system, we used to have only one university at Ibadan for the whole Country. Today, we have universities and colleges in every major city and international high schools everywhere. Unlike those good old days when only university elites used to rule us, that discrimination has vanished. It is now optional because more schools do not mean better common sense. So, all you have to do is finish primary school and get into some vocational or military academy. You are set to taunt your qualifications and experience to rule the whole Country.

We used to be pagans and kaferi, thank God that rubbish is history, we are now the most religious Country in the whole world. Our Christian and Moslem religions have made us more compassionate and caring people throwing crumbs to the poor that worship us. The days of civil war is gone, Nigeria is united today because we believe in one country indivisible. Let us be serious, ethnic qualms cannot be compared to the days of civil war. Ethnic conflict is better because it is more of a nuisance compared to civil wars.

Nevertheless, some people will complain like anywhere else. Even Americans and British people complain about their own countries. Please do not be fictitious with cynicism, we are not saying we cannot do better but let us be grateful for what we have. Not even Rome was built in a day. If Nigeria is that bad, foreigners will not be making it here. If they have to hold their nose while making the money, it means it so worth it they risk fine offering bribes. Can we make the kind of money they make in Nigeria in their countries?

There is no doubt that there are poor people in Africa, Nigeria is not an exception but if you look at our fingers, it is obvious that they are not equal. Most poor people are lazy and would rather depend on handouts. Those of us, who have traveled out, have seen worse countries than Nigeria, which is why we never stay too long outside the Country. Ask Umaru Diko, there used to be a time when you would not see people pick food from the garbage as they do in America. But time has changed, it is the fault of lazy people.

As you read this, do not get sick to your stomach and it is not funny either. The glory or misfortune of our blood and state may determine how individuals see African countries. If there are Nigerians who hardly see anything good about the Country, they are part of the problem. They are talkers and evil doers. A little faith in God’s time will solve problems. We need to pray more.

When we were growing up our parents’ responsibilities were easier burden to carry. They provided for their families and relatives. As onerous as it was for our parents, it was not impossible otherwise they would not have cared for so many people. It is completely different these days, there are more people expecting manna from heaven to feed their children. The poor have children and the rich have money. People are out to dupe you if you try to help. Poverty has to do with their attitudes.

In sports, our soccer teams have improved considerably. We used to have the Adebajo Babes, Stationary or Enyimba boys and Kano XI. Only a few international soccer players like Thunder Balogun and Onyeali, compared to today with so many of them all over Europe in different teams. If we can bring all of them together with the best talents at home, Nigeria would win the World Cup. That is why we always have foreign coaches.

Haba, how can anyone say there is no progress in Nigeria when we are having the best of our time? Some people who are too lazy to make it blame others for their misery. All they do is complain and never see anything good about us. We know where we are coming from and how far we have reached, it was not a short journey.

We better warn the good old Professor Nwabueze seriously, those that have seen action like General Danjuma, must have repented after knowing better. Please do not encourage some hungry thugs to snatch our lives and happiness away, abeg. We no wan die o!

* July 09, 2010

JOINT HOUSES OF THIEVES RULE A GREAT COUNTRY

Farouk Martins Aresa

When you have notable Nigerians as Professor Nwabueze calling for bloody revolution, while reactionary like General Danjuma that had spilled blood called for caution because it knows no friends or foes, those of us crying for change may not be crazy after all. But there are others that think we have the greatest Country in the world. No matter what our differences are about Nigeria, there is no greater place like home than African countries.

The debate amongst us usually fall along what Africa was when we were growing up and the state it is today. Those who grew up in the days of Nkrumah, Zik, Awo, Kenyatta and Toure may express some degree of satisfaction different from those that went through the tough time of Albert Luthuli, Mandela, and Joshua Nkomo. It is even a marked difference to the days of our children that have never known any good old days.

Whichever way we look at Nigeria, some people are counting their blessing while others see their lives as half empty. We complain about lack of power for electricity, there are far more people enjoying electricity than ever and the number of people who can afford constant supply either by generators or otherwise are more than the good old days. So if we are going by share numbers of people, ignoring those without, Nigeria made progress.

The number of cities, beautiful buildings and rapid road/transport system throughout the Country cannot be compared to the very few we had during the good old days. The big homes, highways, skyscrapers and the number of cars have never been greater for those that can afford to use them or live there. There are so many of these amenities that were not available in the good old days some of us talk about.

There are many people making more money than ever, even beggars do not take small change anymore. If the cost of everything including food and housing has gone up as a result, that is also true anywhere in the world. You cannot buy fish and chips or burgers for the same price you paid in the good old days overseas, so do not expect to pay less in Nigeria. People are spending money at restaurants buying assorted bush meat and fresh fish nonstop. May God never let us do without saki, abodi, edo, bokoto. If you do not have money, say so. That is a different problem jo.

Look at our educational system, we used to have only one university at Ibadan for the whole Country. Today, we have universities and colleges in every major city and international high schools everywhere. Unlike those good old days when only university elites used to rule us, that discrimination has vanished. It is now optional because more schools do not mean better common sense. So, all you have to do is finish primary school and get into some vocational or military academy. You are set to taunt your qualifications and experience to rule the whole Country.

We used to be pagans and kaferi, thank God that rubbish is history, we are now the most religious Country in the whole world. Our Christian and Moslem religions have made us more compassionate and caring people throwing crumbs to the poor that worship us. The days of civil war is gone, Nigeria is united today because we believe in one country indivisible. Let us be serious, ethnic qualms cannot be compared to the days of civil war. Ethnic conflict is better because it is more of a nuisance compared to civil wars.

Nevertheless, some people will complain like anywhere else. Even Americans and British people complain about their own countries. Please do not be fictitious with cynicism, we are not saying we cannot do better but let us be grateful for what we have. Not even Rome was built in a day. If Nigeria is that bad, foreigners will not be making it here. If they have to hold their nose while making the money, it means it so worth it they risk fine offering bribes. Can we make the kind of money they make in Nigeria in their countries?

There is no doubt that there are poor people in Africa, Nigeria is not an exception but if you look at our fingers, it is obvious that they are not equal. Most poor people are lazy and would rather depend on handouts. Those of us, who have traveled out, have seen worse countries than Nigeria, which is why we never stay too long outside the Country. Ask Umaru Diko, there used to be a time when you would not see people pick food from the garbage as they do in America. But time has changed, it is the fault of lazy people.

As you read this, do not get sick to your stomach and it is not funny either. The glory or misfortune of our blood and state may determine how individuals see African countries. If there are Nigerians who hardly see anything good about the Country, they are part of the problem. They are talkers and evil doers. A little faith in God’s time will solve problems. We need to pray more.

When we were growing up our parents’ responsibilities were easier burden to carry. They provided for their families and relatives. As onerous as it was for our parents, it was not impossible otherwise they would not have cared for so many people. It is completely different these days, there are more people expecting manna from heaven to feed their children. The poor have children and the rich have money. People are out to dupe you if you try to help. Poverty has to do with their attitudes.

In sports, our soccer teams have improved considerably. We used to have the Adebajo Babes, Stationary or Enyimba boys and Kano XI. Only a few international soccer players like Thunder Balogun and Onyeali, compared to today with so many of them all over Europe in different teams. If we can bring all of them together with the best talents at home, Nigeria would win the World Cup. That is why we always have foreign coaches.

Haba, how can anyone say there is no progress in Nigeria when we are having the best of our time? Some people who are too lazy to make it blame others for their misery. All they do is complain and never see anything good about us. We know where we are coming from and how far we have reached, it was not a short journey.

We better warn the good old Professor Nwabueze seriously, those that have seen action like General Danjuma, must have repented after knowing better. Please do not encourage some hungry thugs to snatch our lives and happiness away, abeg. We no wan die o!

Be serious guys. How about about BNigwerian girls falling all over for Ghana boys?

Any takers, niger women it's your turn. No discrimination, Yoruba, Hausa or Igbo will have to pay for those goals on behalf of all Africans.

Eagles warn Kaita - Don't go back to Nigeria

Thursday, 24 June 2010 05:00 Tribune.com

THE Super Eagles teammates of Sani Kaita have asked the Russia-based midfielder to return directly to his base in Europe rather than head for Nigeria following threats to his life by some angry fans on account of his red card against Greece in a Group B match last week.

Kaita’s red card opened the way for Greece to fight back from a goal down and win 2-1 to throw Group B wide open, before South Korea finally edged the three-horse race to join group leader, Argentina, in the knockout stage of the World Cup on the final day of first round action.

Kaita received death threats to his email following this dramatic red card, forcing the Nigeria Football Federation (NFF) to notify FIFA.

“It’s too dangerous for Kaita to return to Nigeria and that is why most of us told him to head straight to Europe now that we have been knocked out of the World Cup,” warned one of the most senior players in the Eagles who is based in England.”

“We may all be treating these threats lightly, but if something bad happens to him now, we will all be sorry that he did not take necessary precaution,” added another player.

Kaita himself has insisted that as a Muslim, his religion teaches him that only God has control over his life and that he was not scared of the death threats.

It used to be worse but today they are more "civilized" in three piece suits. If you are black, they deny you means to live. You have the highest unemployment in good or bad times. Your homes are taken over without a man, usually more of them in prison than in colleges. In short, they castrate you slowly to death.

At least in Nigeria corruption is a club leaving out no ethnic group.

By the way, they have no clue how Obama got in and they are doing their best to kick him out.

Beaf:
Tell me where in todays Europe or USA you can find the equivalent of the massacres in Jos? The best examples might be Rodney King or things Stephen Lawrence, but they pale compared to our regular Boko Harams, Helen Ukpabio's etc. We are much worse than we think.

They have been say Nigeria is finish, may be before some young men were born. Do not give up so easily.

If this is true, Jonathan rule will have to be elongated to allow for voters' registration. There is no way INEC can be ready for the election anyway.

So why do you think they establish their own newspaper?
For their opponents to diminish their interest and propaganda.