₦airaland Forum

according to Sanusi

Political uncertainty has no impact on the economy

see thread below for details

https://www.nairaland.com/nigeria/topic-408661.0.html

according to Sanusi

Political uncertainty has no impact on the economy

see thread below for details

https://www.nairaland.com/nigeria/topic-408661.0.html

according to Sanusi

Political uncertainty has no impact on the economy

see thread below for details

https://www.nairaland.com/nigeria/topic-408661.0.html

according to Sanusi

Political uncertainty has no impact on the economy

see thread below for details

https://www.nairaland.com/nigeria/topic-408661.0.html

according to Sanusi

Political uncertainty has no impact on the economy

see thread below for details

https://www.nairaland.com/nigeria/topic-408661.0.html

according to Sanusi

Political uncertainty has no impact on the economy

see thread below for details

https://www.nairaland.com/nigeria/topic-408661.0.html

according to Sanusi

Political uncertainty has no impact on the economy

see thread below for details

https://www.nairaland.com/nigeria/topic-408661.0.html

"I have said this repeatedly, and I will continue to say it, that we do not have any problem," Mr. Sanusi said.

A situation where we have a dying substantive President who governs by proxy and an indefinite Acting President is not a problem for Mr Sanusi.

This man is a phony character

Is it possible that an air of political uncertainty will have no impact on the economy and foreign investment in any country?

This man compiled a wrong list of debtors, they blamed it on the Banks!!!!

This man created an unemployment catastrophe, they blamed it on his predecessor!!!!

This man has a bill before NASS to set up AMC without any mention of cost !!! we are yet to hear who they will blame it on, may be the lawmakers who can't read!!!!

Now this man is telling us that political uncertainty have no impact on the economy?

Na wa oh!!!!!!!!!!!!!!  Someone needs to chase this Bull out of the China shop.

Political instability not affecting economy, says Sanusi
By Bassey Udo and

Oluwaseyi Bangudu


March 4, 2010 03:44AM
  print  email   




The Central Bank of Nigeria (CBN) says there is no correlation between the performance of the nation's economy and the current political impasse resulting from the inability of President Umaru Musa Yar'Adua to perform his duties as president.

The bank's governor, Sanusi Lamido Sanusi, told NEXT in Abuja on Tuesday that there are no indications of any negative impact on the economy as a result of the president's poor health, which had made him stay outside the country for about 94 days for medical attention in a Saudi Arabian hospital.

"The Economy has been growing. Exchange rate has been stable. Interbank rate has been low. We have continued with the banking reform," Mr. Sanusi said.

The central bank Governor also said Acting President Goodluck Jonathan is satisfied with the operations of the bank.

"The activity of government continues. We have continued to get approvals from the Acting President, and consult with him at any point in time.

"We, at the Central Bank, at any point in time, have not felt that there is any difficulty in getting things done.

"I have said this repeatedly, and I will continue to say it, that we do not have any problem," Mr. Sanusi said.

Asset Management Company

On the status of the bill seeking to establish the Asset Management Company (AMC), Mr. Sanusi expressed optimism that, given the pace of the legislative process at the National Assembly, the decision on the matter will be made within the next few weeks.

"As at last week, the three committees in the House of Representatives laid the report before the full house. As of today, the AMC Bill has been tabled for the second reading at the Senate. We expect that all things being equal we can get it passed within two weeks, after all the committee processes, before the harmonisation of any differences, and then presidential assent.

"We are on track to get the AMC Bill approved within this quarter. We are on track for making rapid progress on the final resolution of the policy on capitalisation of the banking industry in the second quarter and for getting all shareholders' approval in the third quarter. By September 30, all issues with all the affected banks would have been resolved," he said.

Analyst differs

However, Victor Ndukauba, an analyst at Afrinvest, a finance and research firm, disagreed with the central bank governor's position saying that the political impasse has increased investment risks, as the political risk rating of any economy is a high determining factor for investment.

"Most investors, external investors particularly, are looking at political risk while considering economies for investment. They look at the whole political setup, the transition, the instability and the impact of all on industry and business" he said.

Mr. Ndukauba told NEXT in Lagos that "In the absence of a president, one of two decisions usually lies pending and one of these is in terms of direction and policy making and how these would impact on businesses and investments. It begins to raise a concern to any investor who would begin to factor this as a major point for decision making.

"He (President Yar'Adua) was away for about 93 days and then it was reported by foreign and local media that he returned.

"We were told that an ambulance, along with an escort headed to the seat of power, (Aso Rock) none of the media saw him, he is yet to grant an address to the public either by national address or any form of public discourse.

"This scenario creates a lot of uncertainty and that is not good for the investment climate of the nation. In my opinion, I think this would worsen the situation because while he was away, the legislature had found a way to make the Vice president act as the president, foreign players and other counterparts were more assured of the stability of the nation under one man but this recent uncertainty makes it challenging for investors" he said.

Labour warning

The Trade Union Congress of Nigeria, in the early days of the president's return, had warned that "Unless the situation (political uncertainty) is properly managed, self serving politicians who have fuelled the tension in the polity thus far over this issue, are capable of adding political, sectional and religious connotations to the whole issue and this is capable of causing serious problems for a fragile country and our fragile economy and our overall stability."

Infrastructure challenges

Speaking on infrastructure challenges in the country, the CBN governor said all the 24 bank chief executives identified, power, transport infrastructure and agricultural development as the three key areas of intervention by the banking sector that can positively impact the economy.

He said the Bankers' Committee has constituted a technical committee to work in consultation with state governments to identify bankable projects that require funding as well as other issues, such as approval to accept bonds issued by well managed states for liquidity.

He also said the CBN would encourage states to access the capital market to source for funds for their projects, pointing out that one window is the deployment of the excess liquidity by banks with the apex bank to the state governments for 10-15 year bonds through the capital market for financing long-term infrastructure development activities such as power projects.

"It's a combination of working with the banks and the government to ensure that the projects are commercially viable; pushing the advocacy for capital market reforms (like the tax), which is awaiting the president's signature," adding that this would open up the bond market to the private sector and direct lending through consultation and appropriate advice.

http://234next.com/csp/cms/sites/Next/Money/Business/5535344-147/story.csp

he is surely not one of the rest of us because he has access to the seat of power

he is either part of those manufacturing these lies

OR

he has simply chosen not to speak out in the face of illegalities.

I think from now onwards he should spare us his righteous sermons.

Has anyone heard from Sanusi in the last 90 days?

This man had before now taken part in National debates of all subjects that no subject is off limit for Sanusi

So why has he not said anything on the Yar'adua debacle?

we have over loaded seaports in lagos and ph

we are even unable to transport electricity plants to where they can be installed

we should stop being selfish in Nigeria.

Nigeria has started a vast operation to dredge the River Niger to enable boats to carry goods from the Atlantic Ocean to remote villages in the interior.

The 36bn naira (£140m, $233m) project will remove silt from hundreds of miles of the river - Africa's third-longest.

The government says it will bring communities together and secure the flow to hydro-electric plants.

Activists have previously said the dredging could damage the livelihoods of villagers along the river.

The BBC's Chris Ewokor, in Abuja, says the project has been in the pipeline for four decades, but has been put off by successive governments.

At the signing-off ceremony in Lokoja, President Umaru Yar'Adua said the dredging - which is expected to take six to eight months - would ensure "all-year-round navigability".



"It will provide an attractive, cheaper and safer means of haulage of goods, while engendering linkages and promoting trading activities between adjoining communities," he said.

About 572km (355 miles) of the river will be dredged - from Baro in central Nigeria to Warri in the Niger Delta.

Our correspondent says the build-up of silt on the river bed has reduced the Niger's retention capacity, resulting in floods and limiting the possibilities of transportation.

Officials are also concerned that the silt build-up is limiting the amount of electricity generated by the Kainji dam in north-western Nigeria.

yar'adua's intentions for nigeria were never pure and that is why he appointed his kinsman as COAS

obasanjo as president never appointed a yoruba man let alone ogun state man CDS or CAOS

This is dumb politics

What is the benefit of suspending the River Niger projects which benefits all of Nigeria?
There is need to decongest Lagos and PH seaports
The North and South East hold the project dear.

If he truly cancels this project or starves it of funds then he is in trouble.

I am personally begining to loose faith in Jonathan

Sometimes I ask why was it not Donald Duke in his shoes?

What I am asking is why nobody has asked the Minister of State for Education how a man she claims just 10days ago was excersizing 25minutes everyday in Jedda and running up and down the stairs could come back in an ambulance?

Why is it so easy for public officials to lie in Nigeria?

Why is nobody asking Aisha Duku to defend her statement or resign?

How wicked can people be?

This man's lifeless body is being used as a political tool

they are desecrating Yar'adua's body for political reasons

story story oh story

US did not tell IBB anything its pure propaganda

If Jonathan is not interested in running he will handover to Donald Duke / El-Rufai

aieromon:
I thought they said the dude was ''taking exercises'' in KSA.Why come back to Nigeria in an air ambulance at night where people can't see you physically?
I think it is a shame that since he came back,nobody has given the Nigerian people a true situation report of our President.I believe the guy is dead or just a vegetable waitng to be unplugged.What i don't understand is what Turai stands to gain from this confusion

If Yar'adua is no longer President or buried the ADC will be redeployed back to the army.

Na you go go service her for Katsina?

Turai has a policy of keeping Col Yusuf Tilde always within 50 yards

Onlytruth:
For where? She go simply remarry!
This should serve as a warning to men who cling to power to satisfy the whims of their wives. Protect your health first. That woman will be under another man in a twinkle of an eye if you die!

I personally believe somebody is already servicing her

The full blooded Col Yusuf Tilde is my number one suspect.

Fulani women like it nice and rough from the back and trust a Tiv boy any day any time. Only God knows what may have been happening in King Faisal Hospital in the last 3 months.

snowdrops:
But then the US has always been Nigerias' largest crude oil trading partner even when most of our leaders since independence have come from the north. We dont have a choice but to trade with America. Where else would we head to?

The dynamics of world politics and peace has changed since then and US has new threats to their National Security
Their threats are no longer only from Russia but from a stateless terrorist group driven by religion and most times found in countries where there vast oil resources.

So Nigeria of the 1990 and Nigeria of 2010 has changed a lot and surely the west is reviewing its Foreign Relations towards Nigeria.
Besides the West is tired of the fact that they have backed the Muslim north for 50years and yet Nigeria is failing on all fronts and looking more like a country getting set to be breeding ground for Al-Qaeda. Abdull-Mutallab, BokoKaram, Danish cartoon killers.

The world is getting tired of your mediocrity and have chosen to change course. So you guys have the choice to be like Moderate Muslims in Indonesia, Malaysia  . . . . .or radical Muslims like Pakistan, Afghanistan

sjeezy8:
Tired of everyone crying northerners dominate the army while southerners themselves indulge in militancy and not the army- to level the playing field.

Common sense would tell yorubas, igbos, ndeltans to up their ethnic groups in the army - so they all can be somewhat equal.
Im just wondering why are southerners sooooo DUMB?!

Evereyone wants to leave Nigeria as if its easy, the easiest thing to do is enlist jobless youths across the south in the army and increase pay to make it more attractive. duh
look at obj when he became president from 99-07 what did he do?

Northern domination is by design and not by choice

people from south apply but not all are allowed to sail through. there are double standards in the recruitment process

snowdrops:
Hmm interesting. What do the USA stand to gain by undermining Yar'adua and the north?

so that another set of vast oil resources will not fall into the hands of the Muslim world

The world is already tired of Iraq, Iran, Saudi,  . . . . .to allow another set of Al-Qaeda worshiping terrorist wannabe people control Nigeria and its vast oil resources is a danger to world peace and balance of power.

especially when the oil itself is not in the muslim north

the terror blacklist is part of the strategy to undermine yar'adua and the northern hegemony

The composition of the Army does not mean much to me
What I do know is that treatment of Jonathan in the last 3 months has put an indellible hole to the Northen claaim for wanting ONE Nigeria. Is it not clear that it is now the case that One Nigeria was simply an empty propaganda to sustain their hegemony.

A one nigeria where an ijaw man is a lesser nigerian than a hausa/fulani man

another addition to their long list of dishonest diplomacy towards Nigeria? where have they been all this while?

Thank God for the Americans, they decided that its time to have a totally different Foreign Policy towards Nigeria. They may have reasoned that their interest is not necessarily threatened if there is justice in Nigeria.

But Britain up till now continued to maintain their colonial era thinking towards Nigeria. 'Ensure power remains in the hands of those they have historically controlled at all cost and then use them to control the rest of the country'.

Shame on their imperialist diplomacy. It is simply outdated.

nex:
Asari Dokubo is just a silly fat child. Was he or his forefathers consulted before the Ijaw tribe was formed?



Sometimes forgiveness is not good. Look at this common criminal opening his mouth to speak to a Nigerian diplomat. Who even asked him whether he was a Nigerian or not. This is the stupidity that will not allow other Nigerians leave oil money to us. These sorts of fools may start using the funds to print Ijaw passport and spend billions of dollars in hosting the Sovereign National Conference.

Talk about slave mentality.

He is simply making the point that neither himself nor his forefathers were consulted when Nigeria was created. I don't think he does not have a point. I think he has a serious argument.

The foundations of our country, Government and constitution are weak. A manifestation of this fact is the last 90days. Those were his point.

You can either choose to apply reason and think of how to work through his arguments or continue to live in denial.

The phrase ONE Nigeria is one huge big propaganda built on nothing. The foundations are weak