₦airaland Forum

amtaken:
If you wish to consult me to provide solutions to the issues affecting the country you do it officially.


I cannot give my well researched ideas here and someone else will go tender it as his/hers.


Buhari's economic policies as regards to forex, abrupt ban on importation of most goods without prior notice or alternative plans, indecision as regards to subsidy payment or lack of it, banking policies etc are affecting our country negatively.

Flexherbal:
No to corruption, this is the biggest of them all.

charliboy654:
do u kw foxcon, largest manufacturer of apple product, is in China. the Chinese manufacture good quality product, it is Nigerian importers that orders for inferior goods. currently we don't have the infrastructure to start manufacturing. wen u talk of Nigeria product I begin to imagine wat u talking abt. most of Nigeria product are just assembled product.

tuale4u:
[size=14pt]Buhari Economic policy is very sound and Pragmatic[/size]

The truth is dat this Buhari govt actually had d most well defined economic policy in d last 10years. A good acronym to define and sumarise Buhari economic policy is DOTE ( Diversification Of The Economy)

The economy policy is so clear. Yet many people just shout for nothing because they dont understand the meaning of economic policy. Budget is d major part of economic policy. And this 2016 Budget is d most well defined economic policy in d last 10 years that try to integrate every strata of d country.

Below are d economic policy of Buhari govt:
Note: These are not Campaign promise. These are things already in d aprroved Budget by NASS.

1. Job creation through massive infrastructural projects worth over 1.5trillion naira. This is d first time in Nigeria history infrastructure will be more than 1 trillion naira. These include massive spending on rail, road, power, housing and airport.

2. Poverty reduction through social intervention. This includde 23000 to 25000 naira per month for 500,000 graduate volunteer teachers. 50000 naira each to 1 million market women. etc

3. Extreme poverty management and social integration and intervention through 5000 naira stipend to 1million Extreme poor widow , handicapped and aged people. Feeding of over 4Millions pupil one meal a day from primary 1 to 3.

4.Diversification through Agriculture and solid minerals. The govt has already sign alot of MOU with many countries on these regard. This is one of d reason d president have b travelling alot. This is aim at import substitution which will help to save foreign exchange and boost naira stability.

5. On d monetary policy, d govt monetary police is saving Forex for essential commodities. Thus dual exchange rate. 199 for essential goods and 325 for non essential goods. This policy is well defined and deliberate by d govt. Usually all over the world, monetary policy are dynamic and not static. Expecially in d aspect of money supply. Most times, monetary policy is reactive rather than proactive all over the world. so monetary policy could be changing per quarter in Minor details. But the main Objective is stable for atleast 6 months. The main Objective of dis govt foreign exchange policy is saving foreign exchange for critical and real sector of d economy.

6. Nigeria China $6billion investment agreement. This is the best form of foreign aid Nigeria has signed in the last 30 years. This model of agreement with china has be used successfully by Ethiopa. And Ethipia economy became strong as a result of it. I will like to thank Ngozi Okonjo Iweala for this. Most of these china agreement were initiated by Jonathan govt through initiative by Ngozi. However due to lack of political will on d side of Jonathan, these agreement were not implemented. In addition, we must commend Buhari for providing the required leadership that will ensure these agreements are implemented. Paraphrasing Nogozi Okonjo Iweala "sound technical tools and ideas is a waste without strong political will". We must understand that the $6billion deal with china is not a loan in d true sense of it. Most of the project will be done on "Build, Operate and Transfer". That means the projects after being completed are expected to generate some part of the investment.


* To those opposing the social intervention/welfare for the poor in this economic policy should re examine thier position. America with the highest form of capitalism in the world, still have welfare and socialist input like food stamp, some free basic healthcare in public hospital, foster homes for children, some homes 4 homeless people, cheap public schools etc. We must understand dat a society that does not have any regard for the poor can not have peace. The rich in such society will continue live in perpetual fear with high fence, bullet proof door, etc as we have in Nigeria today.



Below is definition of Economy policy



http://www.cliffsnotes.com/study-guides/economics/introduction/economic-policy

From the definition above it is clear d govt have economic policy clearly defined.

1. Spending and Taxation: The govt spending plan is clearly defined by d Budget. A deficit budget with about 1.5 trillion on Insfracstructure. In terms of Taxation, the govt have clearly make thier priority the increasing of tax base to more companies, persons and product. This has clearly be shown with d plan recruitment of 1250 professional staff by FIRS.

2. Distrubution of income from Rich to the poor: This part of economic policy, is clearly shown in d budget with the 500 billion social intervention fund. This will be used for 500,000 vokunteer graduate teachers, 1million exreme poor widow and aged, 1 million market women with 50k granr each and d 370,000 training of artisans.

3.Supply of Money. This means monetary policy including forex. This govt have deliberate choose to use dual exchange exchange as a way of preventing rapid decline of foreign reserves. Thus by so doing, d future is protected. It is an indirect saving technique.

Below is Well defined Medium term Economic plan of this govt.




http://thenationonlineng.net/jobs-cash-coming-govt-plans-n350b-revival-pill/

The question now should be how far can this govt implement this economic policy? We may have to wait till June 2017 to December 2017 to clearly say whether they failed, or succeeded or are in d right direction.

Chukzyfcb:
Very true, links are littered online that says a portiion of our dollar reserve is converted to yuan. I dnt think naira is the currency converted.

Huasamafia1:
amina dont worry zaki gani we will deal with them they robed us Gombe an idiot is saying that its fulani dominated area so what didn't APC win in president but because the APC governor is a hausa man they said the gov told his hausa brother that his govt will be for the hausas imagine Fulani this year we will take back our land and kingship

Goddex:
[size=14pt]What a confused government?

Obviously, the worst government since independence[/size]