₦airaland Forum

greenpasture:
This is an internationally accepted way of reflating an economy without causing inflation. This method ties money to the creation of new value ( roads, bridges, sewage systems, power, water provision etc). The method Nigeria has used through independence is " trickle down" economics by which a few people receive massive sums of money in the HOPE that it will get to the base of the pyramid. This method on the other hand seeks firstly to provide income to the people at the base of the pyramid while financing infrastructure for business. Secondly the amounts being given to these beneficiaries will have a multiplier on other businesses such as food sellers, agriculture production, and other citizens. Thirdly the amounts received by these people in the initial chain is unlikely to become either dollarized or to experience Capital flight outside Nigeria

Some people believe this government has no economic policy and they are wrong. Here is the policy:
1. Reject devaluation of the naira. Devaluation only works for exporting countries not import driven economies like Nigeria
2. Diversify the economy through points 3 and 4 below.
3. Create incentive for local products by defending certain local industries using high import tariffs and low official dollar allocation
4. Stimulate the local economy through intervention funds specially calibrated for the 100m plus Nigerians at the base of the pyramid
5. Reduce deficit through the effective mobilization of cash ( taxes i.e. stamp duty, single government account)
Of course 1-4 disfavor importation and trading which is essentially what goes on in Nigeria. Nigeria is basically an international outpost for the world's goods. This has really hurt Nigeria. The change in policy will hurt a lot of people in the short term. But in the long term creativity and innovation will create new sustainable jobs that profit from rather than being victims of international trade.

The economy is in critical shape and the government has placed a bet on the Nigerian people, not a few oligarchs. Everyone between 21-35 has to stop thinking job and start thinking enterprise. That's where the opportunities are and believe me with a strong business model, partnerships to scale, a well defined customer segment, this age group can take on the world ( IF they stop slavishly following celebrity life and take responsibility for their own lives instead if moaning and doing nothing)

My company funds start ups and I can tell you it's easier to fund in Ghana or East Africa because most young people here either lack fundamental skills or are not creative enough in a positive sense.

I continue to believe though - we've had some successes - and they have been stellar. Avoiding discouragement and a victim mentality is the first step. Afghanistan still makes the world's most expensive carpets but they've been at war for the last forty odd years. It's not the circumstances but the heart and mind.

PassingShot:
Can we do the same for other aspects as follow?

Crude price: GEJ $100 PMB $30

Corruption: GEJ $bn stolen. PMB - 0

Insurgency: GEJ BH seized 14 LGs. PMB - Defeating BH.

Foreign Reserve:
GEJ met $47bn left $29bn despite unrivaled earnings.
PMB met $29bn and has increased it to $32bn despite diminished earnings.

Nigeria Image:
Under GEJ, Nigeria became a laughing stock and got mocked and ridiculed even by Ghana, Benin and SA not to talk of the Western world.

Under PMB, Nigeria is gaining back her respectful place once again.


When will the wailing zombies understand that if you waste your today, you have gambled with your tomorrow?

What you see today with the economy is the result of the INEFFECTUAL BUFFOON's mismanagement of our resources in the five years he ruled. And if una like, make una cry blood, the drunkard is not coming back and NO ONE from that region may EVER smell ASO Rock.

Did I just strike where it hurts?

obaiIaIa:
Ben Llewellyn-Jones who is the Political Counsellor at British High Commission Abuja, asked this very interesting question following the high rate of violence & thuggery that characterized the Rivers state National And State Assembly rerun elections which held over the weekend. Your thoughts?


https://mobile.twitter.com/benllewellynjo1/status/711479002398105600

Foreign Secretary and US Secretary of State joint statement on the Nigerian elections.

Our governments welcome the largely peaceful vote on 28 March. The Nigerian people have shown a commendable determination to register their vote and choose their leaders.

So far, we have seen no evidence of systemic manipulation of the process. But there are disturbing indications that the collation process - where the votes are finally counted - may be subject to deliberate political interference. This would contravene the letter and spirit of the Abuja Accord, to which both major parties committed themselves.

The Governments of the United States and the United Kingdom would be very concerned by any attempts to undermine the independence of the Electoral Commission (INEC), or its Chairman, Prof Jega; or in any way distort the expressed will of the Nigerian people.‎

https://www.gov.uk/government/news/joint-uk-and-us-statement-on-the-nigerian-elections

obailala:
I have long downloaded and read the report and it is filled with political gibberish which negates common sense. 20,500km or roads built indeed, but probably the roads are on Mars cos no one in Nigeria (except maybe yourself) seems to witness these good roads.

obailala:
Very laughable defence/analysis. Total length of Nigerian highways is 34,340.90km and GEJ fixed 20,500km to very good standards, I hail you! Meanwhile you can't point out to me the roads in the entire SS and SE that were fixed to this international standards. All the major roads I have always known since birth to be bad are still in a sorry state, and now you blame it on me for not being a traveller to see GEJ's giant strides. I hail you again!

obailala:
(Alvan Ikoku College of Education) + GEJ Magic (painting of signboard) = (Alvan Ikoku University of Education) Hallelluia!

Meanwhile, Buhari Paid about N407bn in Nov/Dec 2015 to fuel importers as subsidy arrears being owed them by GEJ since 2014. Remember, the delay in clearing these owed arrears led to the fuel scarcity in November last year. And since its payment, there's been no need to pay subsidies any more cos of the low oil prices.

obailala:
Wonderful! I never knew Jonathan was such a miracle worker, from 4500km of fair roads in 2011 to 25,000km of very good roads in 2015. Such a miracle worker for these roads to be built probably on the moon, cos whenever I look around me, all the major bad roads I use in the SE and SS and SW are still as horrible as ever before. From the PH-Owerri road to the PH-Enugu road to the Onitsha-Enugu road to the East-West road to even the Benin-Sagamu road (save for the most horrible stretch close to Ore which has now been fixed, the rest of that road is still a shit-hole jangolova ride). Wonderful I say, wonderful!... Maybe the 25000 roads were built only in the north, cos I haven't gone beyond Abuja since 2009.

If most of the roads you and I use frequently are still like this, abeg tell us where these 25,000km of roads are biko?

obailala:
Coming around from where to where?.. Which reality?

obailala:
Party aside and in all honesty, you have made some good points, but you also spewed some ignorance too (no offence):
1. Jonathan increased power to 5000mw, but the real question is, how much did he actually add to the value he met after spending over $10bn?... If Buhari adds 10mw today and Nigeria attains 5010mw, that will be the highest power generated in history, but is that an achievement that should be celebrated (especially when you consider the amount spent)? Lastly, was there an improvement in your daily supply? (answer honestly)
2. GEJ did not build the most federal roads and Fashola never made that baseless statement. If you are Nigerian, then you should be smart enough not to swallow any rubbish report churned out by dubious blogs.
3. GEJ commissioned many new federal varsities, TRUE!... but changing the name written on the signboard from 'federal polytechnic' to 'federal university,' commissioning it and then celebrating that you have created a NEW university, that doesn't really seem like a stellar achievement to any discerning mind.
4. GEJ did not 'make' Nigeria largest economy in Africa, this ignorance isn't worthy of an educated person.
5. No fuel scarcity throughout his reign, Hallelluia!.. But the question smart people should ask is, at what cost to Nigeria was this fuel supplied?... N2.13trillion blown up in 2011 alone to ensure that there was no scarcity. Good result though, but achieved through a very flawed process which resulted in huge damage to the nation's reserves. This explains why Nigeria earned its highest income in this period but instead of having savings, our reserves fell helplessly. Not a wonderful achievement if you and I must be honest.
6. Reduced ghost workers by 50%?... Someone asked a valid question, "if we dont know how many ghost workers are in Nigeria, how come you know 50% were reduced?" I would have preferred you mentioned the exact number of ghost workers for the sake of comparison because virtually all administrations as well as I can remember have discovered and removed ghost workers.

oludare007:
Mr wailer,

Minimum wage was at 12,500 and not 8k. And the proposal for increase was already in play by ya ardua before he took over.


Corpers allowee increment was necessary and at the same time, an incentive to have them support him. I was a corper then, and we did. What do u expect.

Power generation has never reached 5,000kw under PDP..quote Me anywhere!

INEC has been independent since inception. Did you think the word 'I' in INEC stands for incredible?

Jonathan' administration never built any NEW roads. Roads are built to completion. If comprehension is ur problem, try asking for educational refund.

CORRUPTION is fertilizer distribution was reduced by Adesina. In fact, it was never reduced. I possesses my ID card as a farmer and I never received any text, seed nor fertilizer even when I went to my local govt. We were told to pay 5400 per bag.

How did u knw that ghost worker was reduced by 50% when the numbers of ghost workers is not even ascertained? By the way, Jonathan didn't discover any ghoat workers as much as buhari just did.

Jonathan did not build federal universities in all states of the nation. In fact, there are no new govt universities in Lagos, Ogun, Oyo, ondo, osun or ekiti!

Go back to the nation bureau if statistics and you will see the growth curve of the nation right from OBJ's era. It was pegged at 3% every month..

Fuel scarcity... I bet you forgot the fraud in oild subsidy and the January 1st's gift to the nation. Besides, while this new govt now earn 6naira per barrel from not paying subsidies, even with decreased pump price, your Jonathan claimed to loose 24naira per barrel and thus, increase in pump price.

Sound trains and air ports to international standard?... That is funny and it exposes your penchant to mediocrity. Tell me, where are the new tracts and the new trains? Pls, dnt show me refurbished locomotives and waterlogged runways!

The word, revamped, must have a new meaning. The refineries were proposed to be revamped and was never revamped.

The only achievement here, if u wld love dance around with it is the almajiri schools...but yet, I ask, what else?

babashiko:
in as much as killing in any form is barbaric I think PMB statement is more political than patriotic because the killing in Benue state is more worrisome than the one in Rivers and he is showing more interest Rivers own based on politic. He is yet to strongly condenm the activities of the fulani's on the invasion, killings in the south.

optionB:
The Minister of Information and Culture, Alhaji Lai Mohammed laments over the ongoing rumour that he exposed the failure of buhari’s administration. The minister said I don’t know the reason behind the gross distortion of my comment on radio, but whatever the motive is, he claimed <<<

he never said that the Nigerian economy had gone out of the control of the current administration led by President Muhammadu Buhari.

In a reaction to the reports and criticisms that followed, the minister on Sunday, issued a statement through his special assistant, Segun Adeyemi, in which he said his words were distorted.

The minister described the comment as a gross misrepresentation of what he said when he appeared on the radio show on Saturday.

Speaking earlier on Saturday night at the third Kannywood Award in Abuja, Mohammed had said: “I know we are here for entertainment and glamour, but when a matter of national interest or importance is involved, everything else takes a back seat if only for a moment.

“Earlier today, I appeared on a radio show here in Abuja at which I spoke extensively on the issues affecting our country especially the economy.

“To my surprise, my views were twisted and I was reported to have said that the economy of our country is beyond the control of the President.“

According to him, this is a gross misrepresentation of what he said.
“I could not have said that the economy is out of the control of the President or the administration that he is leading.”

The minister said that the Buhari administration decided to turn the economic disaster that it inherited to a blessing by diversifying the economy.

“I think Kannywood is one of the examples of this diversification.

“I don’t know the reason behind the gross distortion of my comment on radio, but whatever the motive is, Nigerians should disregard such distortion and continue to support our President and his administration to take our country out of the problems,“ he said

fortune1968:
the only option left for anti buhari and the baby factory fools is to commit suicide cause buhari will rule 2nd term .They should continue their blackmail while the progressive majority continue to support our GOD SENT PRESIDENT

winterfell007:
that proposition that Sanusi holds was thoroughly discussed during the last National Conference, but that has been tossed aside by the assumed 'almighty Buhari' who believes he alone can deliver Nigeria to promised land. I keep saying that the biggest problem of Nigeria is not corruption but the structure on which it operates, you don't need a soothsayer to tell you the structure is entirely flawed. we need to revert back to a system that once worked for us. the key to restructuring Nigeria lies in the recommendation that was proposed in National Conference. my humble contribution

Kingspin:
National conference report Una especially you abo.kis no agree, which restructuring is he talking about lazy ants of federal republic of Almajiris.

bloodyBLOGGER:
I woke up this morning to a report credited to a US commander which says boko Haram still holds territory. This statement goes a long way in not just rubbishing the efforts of our Army but also calling our President a liar. Gone are those days when the office of our president can be ridiculed by those most Africans see as superior race. If Commander Rodriguez must say otherwise concerning the gains of the Nigerian Army in the fight against boko Haram, then he should be willing to answer the below questions:



1. Mention the territories occupied by boko Haram.

2. Tell us why people now travel in and out of borno safely unlike before.

3. Tell us why major roads in the northeast of Nigeria that were blocked when boko Haram held sway have now be opened and currently getting plied.

4. Did he set foot in Nigeria or the northeast before he made such statement?

5. Why haven't boko Haram made a propaganda video showing their territories and hoisted flags like they did in the past?

6. Don't he see the gains of the gallant Nigerian Army in the fight against boko haram?

7. Why haven't we heard from shekau the boko Haram commander?

8. Why talk about a situation his country is not willing to provide help for?

9. Is his statement a way of rubbishing the efforts of our gallant soldiers that we the citizens bear witness of?

10. Why is his country fixated on stationing AFRICOM in Nigeria?

LEGALAide:
BEFORE YOU SPIN DUST FROM BEHIND YOUR HEAD, UNDERSTAND THE POST.
OR YOU DON USE YOUR BRAIN BUY SUYA?
DID YOU MISS THE PART WHERE HE EXPLAINED THAT SOME COURSES ARE BETTER STUDIED ABROAD?

YOUR NAME IS ARRESA AND YOU LACK COMMON SENSE!

hollywater:
So nobody care to remind him that one of his minister just died yesterday?Has he finish mourning him?Just asking.

bokohalal:
Much as this is desired, it is going to be tough doing it.

ISpiksDaTroof:
Mad, ignorant, illiterate, Ne'er-do-wells and Programmed-for-failure loonies like yourself never took the time to check the difference between Federal and State Juridisdictions. Instead, you just come online spewing rubbish.

Raziii:
I don't understand u but the truth remains Jonathan was a no no... He failed totally, thats what i meant and not that people will laugh at us literarily.

Raziii:
I think we have too issues here, was it a mistake voting in Buhari, no way! The world would have laughed at us if we voted Jonathan back into power. That for me is case closed! But we have another issue with us right nw. Is the govt currently struggling, hell yes! And they seem not to have a plan at all. And that is where i am bothered!!!

amaechi1:
That is the kind of mistake I wish to make over and over. Far better and purposeful than what we have before. In any case have you heard the TSA have hit N2.9tr? We are almost half the budget.