₦airaland Forum

Solid branding.

Correspondence:
English newspaper, The Economist, has undertaken a review of the newly constituted cabinet of President Muhammadu Buhari, with a verdict that the Minister of Finance, Mrs. Kemi Adeosun, who has an Economics degree from the University of East London and a Post Graduate degree in public financial management from the University of London, is poorly qualified to manage the nation’s economy.

It however described the Minister for Trade and Investment, Mr. Okechukwu Enelamah, as “a respected businessman”, but feared that he “may lack the clout to stand up to the president”.

According to the publication, “Africa’s biggest economy, which relies on oil for 70% of its revenue, is sputtering as prices fall. Economic policy has been adrift since Mr Buhari came to power, and investors complain about the central bank’s use of trade controls and import restrictions.

“However, the new finance minister, an accountant who cleaned up the books of one of Nigeria’s smaller states, is poorly qualified for the job.

“Her counterpart in the investment ministry is a respected businessman, but he may lack the clout to stand up to a president with statist leanings.”

The report further quoted the lawmaker representing Kaduna central senatorial district in the National Assembly, Senator Shehu Sani, as describing the cabinet as “a government with local professionals and without superstars.”


Source:http://dailypost.ng/2015/11/20/kemi-adeosun-poorly-qualified-to-be-finance-minister-the-economist/#.VsYdvfv6fTw.facebook

Stale. E be like you dey aim to make front page again abi?

https://www.nairaland.com/2751095/kemi-adeosun-poorly-qualified-finance

InyinyaAgbaOku:
Aside IMO, no SE state is owing regular workers

And when last did you hear of Osun regular workers complain or grumble about unpaid salaries? Abeg make una face una side jo. Hypocrites.

abdulkayus:
Nothing like hypocrisy for here abeg. petersje8 is telling you the truth and u have to accept the bitter truth. Am a Yoruba like u and wouldn't support someone like Aregbesola who has made Osun state a laughing stock. 4 south west states and 3 south east states are all among the states that require for bailout, there shouldn't be need to chest beating here

Guy, do you have comprehension problem? ? Did you read the report at all? The report didn't even mention any single state that is asking for another fresh bailout, if at all they really are. The list you are referring to is not even complete. And like I said, all the SE states got bailout the last time except for Anambra, so they are in no position to be pointing fingers, that's the point. If you don't get that, that's your problem and not mine.

petersje8:
My dear. We all should be ashamed of ourselves. A state like Osun shld be condemned. If Osun collects N40m monthly and given another bailout, it means he will not have any allocation from FG going forward. We shldnt be tribals here on NL. If we go by the way yorubas carry sophistication this and that for head, then every SW states should be like lagos if it is their own making. But that is not the case. U know wat, even war thorn states are doing better than Osun. Think abt it bro. Borno and Yobe are not worst hit but Osun is. Condemn him bro. As for Rochas, he is a disgrace. I hate and condemn him for messing up my state.

Akuko! I hate Hypocrites like you. You all feasted on this thread to run down the SW while sparing your reginon, until I came to even the scores. Save your sermonette for next sunday service coz I ain't buying your bullshty. It stinks to high heaven.

@MCMLXXVI:

ikeg7416:
Story!!!!!
Delta is neck deep in which debt? Delta debt is not even in the level of your miserable South West. Hungry people.

As I said, the hunger emitting from your Southwest and imo announcing they are broke after aligning with you thieves is evidence for proper survival, do not listen or follow Una "sophisticated" politics. I'm just grateful none of us fell for Una BS and the ones that did such as imo is suffering from it

Delta state owes more than all the SW states combined, including Lagos. Yes I said it.

http://www.vanguardngr.com/2015/06/i-inherited-n636bn-debt-okowa/

Bayelsa (PDP oil producing) is broke and can no longer pay workers, and Delta [PDP] (the third largest oil producing state) also received bailout and has more debt than all SW states. I only say what I know bro.

ikeg7416:
Are you seriously accounting IMO brojemess to SE Igbo. IMO PS broke because they stupidly aligned with yoloba. What that state went through is an evidence that any SE or SS group that joins you yoloba so called "sophisticated" politics will become a piece of shit in matter of years. The only thing you people are good at is media politics.

I recall how you Southwest kept telling us how veriable you all are. How advanced your lands are. How you aren't dependent on FG and oya yansh open, apart from Lagos, the entire sourhwaste needs bailout.

In SS, there's not one depending on FG.. thank you God
In SE, excluding Abia and Ebonyi, the rest are functional alright excluding the one that stupidly followed Una.

The difference between SE and South West they never sugarcoated how bad Ebonyi and Abia is but you Southwest, I thought Osun has the highest GDP in the entire south. Wetin happen?

Guy abeg go and sleep. Go and preach at church and not to me. Bayelsa (SS) just practically declared Bankruptcy. Delta state (SS) is neck-deep in debt. Imo is broke as fvck. Enugu complained of not receiving enough bailout. Abia also said the bailout won't be enough to cover all outstanding bills. What tha hell are you talking about? ?

MCMLXXVI:
No wahala oh, while your Osun state will continue to be NIGERIA'S posterchild for how not to govern a state.
Widespread wretchedness brought about by a man who wouldn't qualify as a Primary 3 class prefect on a normal day.
Now ranking below war-torn states like Adamawa and Borno in WASSCE even with Opon Imo

Pele ooo

MCMLXXVI:
Yeah, they're hungry and impoverished, but they're still not IDPs begging for food like Almajiris
When you losers were chanting APC's praises while bragging about being progressive, where were you?
Osun state is so DEAD, it's allocation can't even pay electricity bills anymore. BWAHAHAHAHA!

And for the record, Osun will always be the target and the bullseye, you know why? Because APC made it the target. It was the very state APC branded as its model state, so no vex when people make it the object of ridicule. Osun is the state people will keep going back to for reference on APC's style of leadership and what they plan to export to the national level. And if you're honest with yourself, the signs are far from encouraging.

No problem. And for the record, Imo state will continue to be the poster-child for SE prolifigacy coz it is an Oil producing state, with the highest GDP in the entire SE, and receives the highest allocation as well.

MCMLXXVI:
Eiyaaaaah!
No more weapons to defend yourself with.

This is your Aregbe Lizard initially bragging while his gullible supporters were cheering...

2011:
"I Don't Need Federal Allocation To Pay Workers" - Aregbesola
http://www.thisdaylive.com/articles/aregbesola-i-don-t-need-federal-allocation-to-pay-workers/103799/

2015:
"Aregbesola Blames Drop In Allocation For Inability To Pay Workers"
http://pulse.ng/local/aregbesola-osun-gov-blames-drop-in-allocation-for-inability-to-pay-workers-id4011110.html

BWAHAHAHAHAHAHAHAAAHAHA!!!!

So sad that we are comparing Osun to an Imo (your region's best state), that is how bad it has gotten for your region.

http://www.communitywatchdogng.com/index.php/news/1000-shocker-imo-pays-n500-million-monthly-to-service-debt.html

http://www.thisdaylive.com/articles/okorocha-puts-imo-in-chains/224147/

Where are the promised 'industry, industry, industry, job, job, job, employment, employment, employment' ? ? ? .

MCMLXXVI:
OkutaNla, here's the link:

"Imo Signs Pact With NLC, Recalls Suspended Workers.
http://www.ngrguardiannews.com/2016/02/imo-signs-pact-with-nlc-recalls-suspended-workers/

Oops! There goes your only ammunition getting extinguished.

Imo is still broke. Ask Rochas to 'recall' that statement then come back and we can talk.

MCMLXXVI:
All those workers were RECALLED on Friday, boy. Look for something else to say.

Imo can never be as wretched as Osun, and that's a bitter fact you must learn to accept.
This is the detailed research from BudgIT running on reliable stats:
https://www.nairaland.com/2732630/latest-ranking-states-financial-sustainability

Bros, no churches have come to donate food to Imo workers like Syrian refugees and Borno IDPs oh.
Imo is still not tanking at the bottom behind Boko Haram states at external exams oh.

Know when to walk away, bros. Don't do this to yourself.

Imo is still broke (Rochas has not 'recalled' that revelation -- a broke person can't afford to pay his bills) and will continue to owe salaries because that was why he fired so many people in the first place.

Imo workers are still hungry and impoverished. It's not my fault that some churches chose to donate to Osun workers rather than Imo's. The Imo Labour leaders themselves said it that their workers are hungry and impoverished.

http://themoment.com.ng/news/19-national/563-labour-to-rochas-imo-workers-re-hungry-impoverished-call-of-strike

Just face your fvcking states and mind you business for goodness sakes. How hard can that be? ? ?

MCMLXXVI:
Bros, abeg no vex, but no repeat that bolded part again o.
As bad as things may be, both states can NEVER be as bad as Osun state at the moment.
You want us to count the ways?

Do you mean Osun state that is SO indebted, that the creditors now deduct from the state's monthly allocation, to the point that only 55 MILLION ends up getting to the state? the raw, cold and bitter facts are there with the National Bureau of Statistics if you want them. We're talking real facts here, not conjecture.

Even as indebted as Imo state is, they don't have churches and Senators ALL THE WAY FROM BAYELSA donating money to buy them food like refugees. But we all know Osun's story, don't we?

Agreed, the three states experienced profligacy at the hands of their governors whp betrayed them. That's a fairly good point from you.
But abeg, don't attempt stretching it to say Imo and Abia are anywhere close to Osun in spine-chilling "sufferheadism", because na there you go chop L.

Say whatever you like but Osun NEVER FIRED 3000 WORKERS!!!!! None of you have so far mentioned Imo's sorry plight (the RICHEST SE state for that matter and highest Oil producer in the region). You are all a bunch of hypocrites and I am here to terminate your propaganda. Face your own indebted states abeg.

petersje8:
U can imagine a whole state collecting paltry N40m monthly. I can even give them that one. Too bad.

It's not as bad as an Oil producing (Imo) state that has gone broke. At least we know how much Osun collects, please how much be Imo own, since Okorocha has come out to tell us the state is broke. Why not address that? At least Imo is in your region.

http://www.dailytrust.com.ng/news/general/imo-is-broke-okorocha/131102.html

MCMLXXVI:
Enugu and Anambra are not in the list.
Hmmm...

Interestingly, all the "sophisticated" states are well represented there except, of course, Lagos.

What are you celebrating? There is no list of states requesting fresh bailout in the report. The list of states up there was from the last bailout which includes every other SE state (even though the incomplete list left out Enugu) except Anambra.

Mckennedy:
Sophisticated only on pages of News papers covered by brown envelope journalists, that's why they're willing to die countering anything Biafra in other to keep covering their failures & shame.

Guyman, Imo, Abia, Enugu, Ebonyi collect bailout too o. Okorocha said Imo is broke o. Those are Biafran states o, not SW.

PedroJP:
Dem go soon dey trans come East come beg.

Lol. That will be the day! First try to convince your almajiris to remain in your region or successfully convince the millions earning a living in the SW and North to return first, then you all will be taken seriously. Any other yarn na usual hype.

Knowledge9000:
Remove Non yorubas and Multi-Nationals from Lagos, it would be like any other yoruba states.

Remove Peter Obi's prudence and Anambra will be in the same boat as the rest of the SE. Remember even Obiano has started borrowing to complete projects -- e don spend all of Obi savings finish Your SE with the exception of Anambra isn't any better than the Yorubas states you are running down. Even Osun is far better than Imo and Abia which are oil producing and a market state. Abi dem no be Igbo/SE states again? Abi na aliens or Yorubas dey rule those states? What did Rochas do with all the Oil money? Osun never fire workers like Rochas did o.

This trash again? Webometrics dey measure online presence and not what is obtainable on ground.

Omo, no more Valentine for these robbers o.

[quote author= post=42907990];DD
10:00 am is my service, I'm inviting you [/quote]Lol.

[quote author= post=42907853]Mind you bell out funds to your states are not included oh ;DD

Your aspersion, ok add 10b to 11b what did you get? Compare that to your verious states[/quote]Guy man, abeg go to Church and seek forgiveness for being clueless, today na Sunday. There's more to life than hyping Anambra. Truth.

[quote author= post=42907853]Mind you bell out funds to your states are not included oh ;DD

Your aspersion, ok add 10b to 11b what did you get? Compare that to your verious states[/quote]Guy man, abeg go to Church and seek forgiveness for being clueless, today na Sunday. There's more to life than hyping Anambra. Real talk bro.

[quote author= post=42907088]Emerging your sources
Ulli Beier: There was a short time in Nigerian history — between Independence and the first military coup — in which we lived through a period of great optimism. Financially the people of Nigeria were relatively well off, and they assumed that with independence, things were going to improve steadily. In the West, people believed in the benefits of universal free primary education. They were proud of being the “First in Africa” to have set up a television station. The University of Ibadan was functioning and had a good reputation. Night life was boisterous; people could afford to go out, drink beer and listen to really good bands. Even in Osogbo, which then had 120,000 inhabitants, one could hear three or four bands at weekends. The Yoruba Travelling Theatre was booming. A decade after independence, Biodun Jeyifo counted about a hundred Yoruba theatre companies —all managing to survive somehow off their performances. People actually preferred the theatre to the movies. But then, those were the days of Ogunde, Ogunmola, Duro Ladipo and the Orisun players. Where in the world could you find a comparable constellation?
Wole Soyinka: There was ferment!

Ulli Beier: There was no official planning; little government interference. It was a natural growth. If you now think back to this period, how do you view it with hindsight? Why does it appear to us now as a “golden age” rather than a mere beginning? (From Ulli Beier in conversation.)
Hmmm. Really. Why would a period that was supposed to be our beginning appear to us as actually the golden age? If the take-off of an aeroplane is the only memorable moment of the flight, then that journey is not just a farce, it is a tragedy. When a people have nowhere else to turn to with pride but the past, then they do not need to be reminded that generations after that “golden era” have all failed. And I am not talking about Nigeria now. I am talking about the old Western Nigeria from Ikeja through Benin to Sapele. Nothing can be more devastating for a pupil whose reputation of being the constant first in class is shredded by a distant competitor.

Ex-governor Peter Obi of Anambra State got me thinking. Two weeks ago, he was giving an account of his eight years stewardship and he announced some figures: N75 billion as credit balance in the state’s accounts and no debt over-hang. That figure, he said, included balance in savings and in investment. Then the big one: Anambra State under him invested in bonds issued by other state governments. Since he made that statement, I have not heard anyone say he lied. It was a combination of these that actually got me thinking —Anambra State that was not paying salaries post 1999, pre-2003; Anambra State of war and lawlessness in Chris Ngige era; the same Anambra that was home of violence and inexplicable crimes. Obi said the state he was leaving behind was not owing anybody a dime; rather, the state invested in bonds issued by other states! Then, I remembered that out of the six states in the South-West, only one has not gone to the Capital Market to take money through bond issuance. What has that told me? It means that my South-West is indebted to South East’s Anambra State — and that is serious. I know some partisan fellows will say ‘and so what?’ They can say so because for such fellows, the only reference they make to the past is using it to cover up the eczema of today[b]. None of the founding fathers of Western Nigeria would ever imagine that a day would come when Yorubaland would owe Iboland.[/b]

Some international financial experts have warned that the current craze for bonds by African countries, including PDP’s Nigeria, will soon lead to what they call “Eurobond curse” just as the continent is wracked by “resource curse.” Some queer commentators would say the warning was directed at national governments. At the state level, the alarm bell should really sound louder. A recent report quoted Joseph Stightz, a Nobel prize-winning economist, as warning that “the financial sector loves to find people to prey on and their most recent prey are governments in developing countries.” The same is happening at the domestic level. Cash-strapped state governments should know that there are no friendly financial institutions. They are in business to make money and it does not matter how.

I do not know what economics is behind the current craze for bonds. Some are even saying bonds are no loans. What are they? Gifts? Won’t they pay back? And at what interest rate? They would even pay costs of the transaction — they call it ‘issue costs?’ Are there consultants packaging these bonds? If there are, who are they? What are their fees?

Yoruba land currently suffers unprecedented, unfortunate and insulting, venal shut-out in the affairs of the PDP Federal Government. The alternative regimes in the states ought to give reasons for hope, not debt over-hang. Nothing should be done by anyone to bond the race to a future of criminal servitude. Governments have to provide amenities, yes. But have we forgotten what our ancestors said about he that eats benefits derivable from a child even before that child is born? Exactly what Niyi Osundare described as “eating tomorrow’s yam today ”!
http://www.tribune.com.ng/columns/inside/monday-lines/item/1849-the-crisis-of-yoruba-s-future/1849-the-crisis-of-yoruba-s-future[/quote]WTF is all this? ? Did the Anambra state Assemby recently approve a 10billion naira loan to Obiano or not? ? Google your state's debt profile if you don't know about it and quit acting a fool. You're pathetic bro. You can't even refute any of the assertions I made up there and instead you're copying and pasting unrelated shyt. FACT: Oyo state TKO's Anambra in every ramification. Be it contribution in revenues to the national commonwealth, GDP, you name it. Debt no stop Oyo from supplying Anambra Poultry and Fish.

[quote author= post=42906414]What ever that rock your boat!
I hope you know your state is indebted to us [/quote]Which stvpid debt are you shouting? Abeg which state no owe debt? Anambra state sef get debt profile just like others so quit sounding like a broken record already! No be Peter Obi dey accuse your governor of squandering N75billion he left him and is already borrowing money?

http://www.odogwublog.com/2015/11/anambra-house-approves-10-billion-naira.html - Assemby approves 10 Billion Naira loan for Obiano

America has more debt than any other country in the world yet it is still the 'Big Kahuna'. Uk get debt, Japan get debt so abeg make we hear word. Ibadan/Oyo till today still supplies the entire SE their day-old-chicks which grow to become her poultry meat and lay eggs, so says Obiano the great:

http://www.yohaig.ng/newspapers/the-punch/anambra-firm-sign-mou-on-n13bn-poultry/

“At the moment, all the day-old chicks sold in the South-East are brought in from Oyo State."

On top of that, no less than 60% of all the fish sold in Onitsha are sourced from Ibadan

https://www.facebook.com/permalink.php?story_fbid=1397911306901737&id=312716338754578

Professor Omaliko disclosed that at least 60 per cent of the fish sold in Onitsha markets come from Ibadan.

Your hype can only fool gullible fellow South Easterners and not the rest of us abeg.

This is serious! I don't envy that man right now. Some African customs are insane. Can't the late wife's family make an exception under the circumstance? ? Na wah o.

Naija9090:
You are not getting my point...let me say this in CAPS...MR. EMEFIELE AND KEMI ADEOSUN ARE NOT QUALIFIED TO BE THERE...SIMPLE!

And I put it to YOU that you are NOT QUALIFIED to adjudge them as unqualified. You are a mere arm-chair critic with no credibility whatsoever. Beyond this handle on this forum, who are you? Who knows you? What have you achieved professionally to qualify you to appraise their qualification? I bet that your type will do anything to defend your recommended replacements after others start calling for their heads a few months into their own tenure. Go to sleep bro.

Naija9090:
Not sure I get your logic. Is Emefiele also responsible for fall in oil price? Is Buhari responsible for the fall in oil price? They are not and neither is Kemi Adeosun. The point is...We need people with tested economics and treasury background who can articulate monetary and fiscal policies to get us out of this mess. They are not mutually exclusive, Finance (fiscal) and CBN(monetary ) have to work to together to effectively get us out of this conundrum. If it means ban on some importation to boast local production to shore up our currency value to counteract the fall in oil price visavis oil revenue, that's where the Fiscal aspect comes in, and such policies have to be articulated.

Guy, Buhari's govt is barely a year old, Adeosun is barely 3-months in office. Emefile is a carry-over from the previous admin but still I feel the situation is beyond his control. It will be height of irresponsibility to replace Emefiele and Adeosun under the pretext that the incoming replacements will perform magic. How long will your recommended replacements be given to perform before others too start calling for their heads? It's obscene and the height of insanity to judge this less than a year old administration on account of a situation that wasn't their making.

THose calling for Finance Minister's head are being mischievous. Is the Finance Minister responsible for the fall in oil prices? The Naira slide coincides with the fall in oil prices, and even Iweala acknowledged that much when she absolved herself from responsibility for the slide as far back as 2014. Even Emefiele and CBN have little options. It's either they allow the naira go on a free-fall against the dollar, or try to cushion things as they're currently doing. Folks that know next to nothing are just here talking crap.