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Nairaland Forum / Nairaland / General / Politics / Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo (17978 Views)
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Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by nedu666: 1:22pm On Apr 14, 2021 |
PataAlhajaKeji: You said nigeria is broke and poor. How does a broke and poor country commit $1.5billion to repairing refinery, $500million to digitization of nta, 789billion to fixing abuja-kano-kaduna, 42billion to repairing national assembly, 30billion to building cbn car park. The country might be broke but Nigerian leaders are similing home everyday 2 Likes |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by Indispensable85(m): 1:27pm On Apr 14, 2021 |
Sometimes our political leaders are just mere hypocrites. My question to Obaseki is: has he stopped collecting his monthly security votes of 750million in the face of the so called economic downturn?Hahaha. ...when it comes to delivering for the masses,they'll always shop for excuses not to deliver but no matter how bad the economy is,all their allowances, salaries, etc are intact.They're never affected. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by orisa37: 1:30pm On Apr 14, 2021 |
HE HAS BEEN PRINTING MONEY SINCE DAY ONE FOR MACBAN AND BOKOHARAMS. WE ARE NOW ASKING HIM TO N20BILLIONS FOR EACH OF OUR 36 CONSTITUTIONAL STATES SO THAT WE CAN HAVE SOMETHING TO GIVE LOCAL ARTISANS. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by orisa37: 1:31pm On Apr 14, 2021 |
HE HAS BEEN PRINTING MONEY SINCE DAY ONE FOR MACBAN AND BOKOHARAMS. WE ARE NOW ASKING HIM TO PRINT N20BILLIONS FOR EACH OF OUR 36 CONSTITUTIONAL STATES SO THAT WE CAN HAVE SOMETHING TO GIVE LOCAL ARTISANS. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by chrisxxx(m): 1:35pm On Apr 14, 2021 |
PHijo:You can never convince anyone who supports APC. I dont know what they ate. They behave so unusual. There might be less blame voting Buhari in 2015. The hyping was much but I was not swerved. There is no way I can vote someone who does not know how to save an information on a computer to be a president in a 21st century Nigeria. My children would not forgive me. 2 Likes |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PHijo(m): 1:42pm On Apr 14, 2021 |
chrisxxx: Very true! I have never come across people like that before. People who will throw away commonsense for some utopian dream. E reach to ask Buhari which do d jazz for am? Lol 1 Like |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by jayaim: 1:48pm On Apr 14, 2021 |
Some people are shocked but am not cuz am exposed. 2008 economic melt down around the world was caused by this. Robert kiyosaki also wrote a book on it also. Is not new, that's why bitcoin was born but some will never understand. American government has been printing money over the years |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by themanderon: 1:50pm On Apr 14, 2021 |
When they said "next level" the people that voted them never asked next level to what? well get ready for what's coming. 2 Likes 1 Share |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by hayoholla(m): 1:51pm On Apr 14, 2021 |
Dpharisee: What's with the obsession of trying to prove yourself right, must you bring tribal sentiments to this again. And tell me from which tribe is the person in charge of economic regulations. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PHijo(m): 1:55pm On Apr 14, 2021 |
PataAlhajaKeji: 1. If you are not subsidising petroleum products there will be less pressure on the Naira 2. If you don't have multiple exchange rates and difficulty with fund repatriation FPIs will flow in 3. If the CBN is not "defending" the Naira there will be enough funds to import critical machinery 4. If there are no bottlenecks at the ports of entry and exit Nigeria can generate more revenue without raising taxes or duties 5. If there is a deliberate procurement policy towards procurement of local goods much of the pressure on USD can be avoided 6. If foreign loans are used to enhance Nigeria's ability to export or reduce imports it will not be in a dire condition. 7. Most of those financial experts you listed did not "fail" due to a lack of ideas, they failed because politicians like Buhari refused to implement their solutions for political, ethnic, religious reasons or even their fear for the labour union. Claims that Nigeria's problem is lack of money or overpopulation are excuses made by lazy minds. Poverty is prevalent in Nigeria because of people like you who support the status quo and are too lazy to think! 5 Likes |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by chrisxxx(m): 2:07pm On Apr 14, 2021 |
PHijo:My brother I dont know! My cousin lost his job after 2015. He supports APC. He had no job even in 2019. I could not believe my eyes when my cousin thumb printed again for Buhari 2019. I stopped assisting him. APC supporters are truly hypnotized. You can never never never convince them. Never especially their grassroots supporters. 2 Likes |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PataAlhajaKeji(m): 2:16pm On Apr 14, 2021 |
PHijo: Nice one. Trust me, I'm in support of these your "IMF" policies. And I'm sure the government would love to implement them but the social and political costs are the major deterrent. GEJ was bullied into withdrawing his subsidy-removal initiative in 2012. Buhari sef dey fear to remove subsidy completely. The policies listed above are very sound but will take a long time for the average Nigerian to reap their benefits. Nigerians are very impatient people. Remove subsidy today, declare a floating exchange rate regime and hell will be let loose. Dem go start to dey insult Buhari life. NLC sef go threaten Nationwide labour strike. #BuhariMustResign go trend on Twitter. We are not ready yet. Democracy ain't for all countries. It'll take a benevolent dictator to change the fortunes of Nigeria for good. Lee Kuan Yew did it in Singapore. Nice submission from you. 2 Likes |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by hayoholla(m): 2:17pm On Apr 14, 2021 |
pansophist: No Nigerians do not pursue the wrong thing. @the bolded has done so much at least to repair our already dented image all over the world. Our export, in terms of entertainment should be a thing worthy of giving kudos of, even without government intervention, until in the recent years, a trend which started from the Jonathan administration, which had the government taking so much interest in the entertainment sector. This sector has rose without government influence, even at times crossing paths with government's ideologies, which most times warrants sanction on such artist brand, (you can ask fela). This sector has rose on its own to give a new image to Nigerians abroad and even Africa as a whole. Talk about the emergence of Afro music which has given the Africans a voice, and a unified consciousness and a sense of brotherhood among, Afro music brought to life or kind of rekindled the African spirit in us to see Africa in a new way and strive to develop it, we even tag it the "Motherland" a kind of surreal connection to the earth upon which we live, work and eat. Afro music has allowed foreigners to see also Africa in a new way, not just about dirty and hungry stricken children littering the continent. It has displayed a beautiful Africa inspite of her scars. Her rich and varying culture. Fela was among the first set of export, a vocal one, which he was indeed good at. He chose the political aspect of music to touch on issues particular to Africa, and how it can be solved using African methods. Only few and daring artist chose this path fela chose, he was derided by his own, but he stood tall like a Colossus. And the antecedent of the Afro music, one which fela birthed, we are reaping it's fruit in terms of our image, even though it does not translate to economic reasons to fill our pockets, it has atleast given us a sense of pride. You can see the way Nigerian celebrated burnaboy Grammy win. If you think entertainment has not translated into meaningful economic activities, I wouldn't blame you, but for the angle which you view it. If it's not a goldmine, and a source of income generation, past and recent governments wouldn't suddenly develop interest overnight. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by DedeNkem: 2:20pm On Apr 14, 2021 |
ableguy: Spoken like a proud ignorant! |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by DedeNkem: 2:22pm On Apr 14, 2021 |
This is what happens when you have an incompetent tribalist illeterate m*oron as president! |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PataAlhajaKeji(m): 2:30pm On Apr 14, 2021 |
chrisxxx: Are you saying Nigeria wouldn't be in this state if GEJ had won in 2015? Are you aware Nigeria was borrowing to fund recurrent expenditure months before GEJ was voted out? Despite the excess crude oil revenue windfall in his tenure. A lot of childish brains here. Macroeconomics must be hard for you all. Are you aware Buhari is the best President when it comes to infrastructural development since 1999? Are you aware Buhari is the best President since 1999 in terms of social welfare programmes? The economy is in shambles, no doubt. Inflation rate sef dey vex. He has his own blames, no doubt but he is powerless. He's not a magician. Our major FOREX earner, crude oil has lost value and I don't think he's doing bad in terms of diversification of the economy. It will take time for the positive effects of his policies to manifest. Nigerians are very impatient lots. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PHijo(m): 2:32pm On Apr 14, 2021 |
PataAlhajaKeji: I think the social costs are overstated. The truth is Buhari wouldn't have faced similar reactions but like you rightly pointed out he is/was afraid to act. In addition to that the policies must be backed up with counter measures. Politicians and civil servants should not be allowed to feed fat on the resources of the country. If it requires locking up labour leaders the needful should be done. Nigeria has been retrogressive for close to 40 years. Not because there is a dearth of ideas but because to a large extent the Nigerian state lacks the legitimacy to follow through. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by ableguy(m): 3:00pm On Apr 14, 2021 |
DedeNkem:Bros goan fight your leaders you and them are the ignorant ones here, nothing about Nigeria will move me again. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by Yusufisraelj(m): 3:04pm On Apr 14, 2021 |
ddippset: It's obvious you are not aware of recent developments. You still think we have a mono economy, you are not so different from the analyst. Countries that have overcome like new Zealand and China, how did they do it? Don't be talking like someone who support "poor" performance. 1 Like |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by chrisxxx(m): 3:23pm On Apr 14, 2021 |
PataAlhajaKeji:You made good points. However I can observe the elements and traits and trace of APC supporters in you. You guys hardly make comments without raining abuses on your addressees or audience. You said all when you mentioned that I knew little in Economics. You are right. My only indices to gauge a performing economy is how frequent people complain of hunger. Complain of hunger these days has become ubiquitous. People are going hopeless and if this continues we will flood to your house to share with you like we did during the EndSars Campaign. 2 Likes |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by GenerationNext: 3:27pm On Apr 14, 2021 |
Ayeong:Pay Nairaland advertisement fees you cheat. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by Emmani360(m): 4:01pm On Apr 14, 2021 |
For those saying they aren't worried, if hyperinflation take place in Nigeria, that N2million in your account might not buy you food for 1month. Your 1 month salary might only buy you bread for 3days. We all in Nigeria should be worried unless you have a very rich and generous relative staying outside the country that will be throwing dollars at you from time to time |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by edoairways: 4:09pm On Apr 14, 2021 |
nedu666:Help me ask them |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by Latvin: 4:20pm On Apr 14, 2021 |
PataAlhajaKeji: Truth is our mono product economy was bound to take a hit from the twin calamities of falling oil prices and more recently covid 19. The best economists would have done only slightly better given similar circumstances. Lack of economic diversification in the past is catching up with us and it will take some time to resolve. This govt could do more but it is taking steps to diversify the economy. Results will take years to fully manifest. In the mean time, it has to take measures open to it, majority of which will not be popular. Weaning the populace of import dependency, removal of subsidy on consumables such as fuel, increase in taxes to fund budgets, paying cost reflective tariffs on power to make the chain work etc. As the theory of the above sounds easy it is not so in practice as the Buhari govt is finding out. So it has to play a delicate game between economic theories and public sentiment and outrage from the fallout. A big lever available to govt is to increase its social investment spending and ensure it reaches the most vulnerable. This is what richer countries badly hit by the pandemic are doing. They borrow tons of money and print money through Quantitative Easing methods to cushion the impact, though doing a lot to keep inflation in check. This is where we can really learn from them. In summary, we need to diversify, diversify, diversify and importantly improve local productivity. 1 Like |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by okoroemeka(m): 4:23pm On Apr 14, 2021 |
Dpharisee:a very interesting observation,not only that he left office in 1984,buhari has been chief of army staff,governor,minister of petroleum,ptf chairman and twice president,all are lucrative positions that will make him an employer of labour in his numerous companies,but what he has is some cows and a few herdsmen looking after them,it is said that by their fruits we shall know them. 2 Likes |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PataAlhajaKeji(m): 4:27pm On Apr 14, 2021 |
Latvin: Thank you very much. Oil plenty well well for your head. You too much! |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by gbemishile: 4:28pm On Apr 14, 2021 |
I wonder how a democratically elected governor would depend heavily on the allocation coming from the government,when there are ways u can create a strong IGR for ur state. what I see is a man trying to divert our attention to the federal government while he loots government allocation |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PHijo(m): 4:28pm On Apr 14, 2021 |
PataAlhajaKeji: Yes, I can confidently tell you it would have been much better if Jonathan remained in charge till 2019. You don't diversify the economy by getting a loan of $1.5. Billion for a refinery. You don't diversify the economy by exploring for oil in Chad. You claim to be informed on economic issues but you just expose your bias for Buhari and his failed government. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PataAlhajaKeji(m): 4:30pm On Apr 14, 2021 |
chrisxxx: I'm sorry for the insults. Na my way o. Na so I dey insult my pals too if we dey argue politics or football. FYI, there are a lot of hungry people in New york, Paris and London too. |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by PataAlhajaKeji(m): 4:46pm On Apr 14, 2021 |
PHijo: Jonathan wey bin dey borrow to pay salaries months before them vote am out? Bros, why na? Only $ 500 million of the funds will be borrowed for the refinery project. The remaining $ 1 billion will be appropriated for. And what's wrong in revamping a moribund refinery to increase the supply of petroleum products in the nearest future and thereby, consequently reducing their prices? Kindly educate me, please. The government can still diversify while simultaneously prospecting for oil and gas in other areas of the country. Crude oil is a non-renewable resource, you know. As you dey extract, e dey dry up. That's the reason OPLs are regularly granted to oil companies in oil-producing countries all over the world. The world is going green, no doubt, but oil and gas will forever be in demand. That is just the fact. And FYI, I am a Buharist. I don't even hide it but we are all humans and prone to err. Buhari is not perfect and I don't hesitate to call the old Nigger out anytime he fuccks up! 1 Like |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by ddippset(m): 4:47pm On Apr 14, 2021 |
Yusufisraelj:China and New Zealand did not do it in 4 years or 8 years. They did it over a long span of time, over 20 years.. So stop loving PDP and blaming Buhari. Blame them all! |
Re: Federal Allocation: Why Obaseki’s Revelation Should Worry Us All - Oke Umurhohwo by DedeNkem: 4:48pm On Apr 14, 2021 |
ableguy: Every Nigerian should be worried about what's going on in Nigeria. Playing ignorance is reckless and unacceptable! |
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