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Nairaland Forum / Nairaland / General / Politics / Most Foolish President: How Buhari Set Tinibu Up For Disgrace (4350 Views)
North Have Set Tinubu Up For Disgrace / Buhari set to retain 70% of ex-cabinet members in new ministerial list / President Buhari Set To Dissolve Cabinet (2) (3) (4)
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Tinubuderanged: 11:54am On Jul 19, 2023 |
Dafresh:don't mind those idiots, they believe that everyone that speaks against the evil policy of tinubu is an Igbo man. I am a northerner I want them to come to the north and see how northerners are cursing tinubu. Infact many people prefer to have Buhari back instead of the high surfering that tinubu put them into. Every commodity has skyrocket to a price that only the Rich can afford. |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Dafresh: 12:08pm On Jul 19, 2023 |
Tinubuderanged:They are afraid to say the truth |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Lifestone(m): 12:09pm On Jul 19, 2023 |
nnamdi640:Importing petrol is a big shame |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Sageez(m): 12:36pm On Jul 19, 2023 |
Lifestone:The policies ain't the problem here but the timing. He should have first ensured that refineries were running perfectly before removing the subsidy 1 Like |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Penguin2: 5:23pm On Jul 19, 2023 |
SOSinNigeria:Unfortunately his supporters are still playing the ostrich; pretending everything is good or that those criticizing the biting hardship are enemies. By the time they realize what they have done to themselves, it will be too late to be redeemed. 2 Likes |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Mantul: 5:47pm On Jul 19, 2023 |
onumadu: If tinubu wants he can fix the issues with his kabal but no their interest is topmos |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by ChybuzzDD(m): 5:48pm On Jul 19, 2023 |
judatech: as ehh, the op finished work there. There's nothing else left for any sensible person to say. 3 Likes |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Mantul: 5:49pm On Jul 19, 2023 |
onumadu: If tinubu wants he can fix the issues with his kabal but no their interest is topmost |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Zxcvbnmghtr: 5:51pm On Jul 19, 2023 |
Majority of the post here against BAT is by the same person using different monikers. Op chai you are jobless oh. |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by basty: 5:57pm On Jul 19, 2023 |
The mouth tour snails used to curse a diety, you will use to rub the ground. |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by fijiuba: 6:39pm On Jul 19, 2023 |
onumadu: 1 Like |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Nobody: 7:02pm On Jul 19, 2023 |
SOSinNigeria: Who is "Tinibu", do i know him? |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by SOSinNigeria: 8:16pm On Jul 19, 2023 |
Skyview01: Did you just crept out of a hole? Who doesn't know the drug lord, impostor and mandate thief? Even people in faraway Austria know him as a drug lord. |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by APCNig: 8:19pm On Jul 19, 2023 |
Your biological parents that are not foolish, please list their life achievements here |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Biodun556(m): 8:20pm On Jul 19, 2023 |
Lifestone: Atiku and Obi would have done what Tinubu is doing. They said exactly the same thing during campaign. |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by stacyadams: 8:32pm On Jul 19, 2023 |
nicedayontop:continue |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by stacyadams: 8:38pm On Jul 19, 2023 |
forexprophet:...lol. The guy has no atom of cell working in his brain |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by LordAdam16: 9:18pm On Jul 19, 2023 |
Penguin2: When we drew attention to this then, his lackeys tried drowning those concerns with "he can take bold and tough decisions". They are mute now. Nigeria is not Lagos. If he fails to nip this downward spiral in the bud, he'd be a one-term president. By September, parents will start grappling with high university tuition. Same parents who have parked their cars over #600 gasoline. -Lord 1 Like 1 Share |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Nobody: 10:19pm On Jul 19, 2023 |
SOSinNigeria: Tinubu is the president of Nigeria. I don't know a "Tinibu". You may need to go to spelling classes. |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Penguin2: 11:27pm On Jul 19, 2023 |
LordAdam16:Sometimes you can’t help but feel pity for them because they are operating on the level they know and can grasp. They are like lower animals with poor mental development that remote controlled and told what to say and how to say them all the time. And being lower animals, they have no rational ability to question the orders handed to them neither are they interested in counter-facts to what they are told. It’s a pathetic life they are leading. 1 Like |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by Padipadi: 11:35pm On Jul 19, 2023 |
SOSinNigeria:calm down |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by grandstar(m): 12:55am On Jul 20, 2023 |
LordAdam16: Yes, not every policy can be rushed. Some need very sound execution like the student loan scheme. It needs lots of tweaking and fine tuning. The end does not always justify the means. However, I support his action in respect of the fuel subsidy removal. About the Naira float, the appointment of a very competent CBN head should sort that out. Most importantly, the government is barely 60 days old and has dealt a blow to the oil subsidy, a monster that held the economy in a stranglehold for decades in a matter of days. The ending of the multiple exchange policy which Nigeria de facto practised for the past 8 years due to Buhari's incompetence was demolished in less than 30days. There's a lot of turbulence in the market. The country experienced worse under Buhari. The government needs more time. It is too early to pass judgment. You wrote about when the Naira declines to 512 to a dollar if I am correct while the official rate was 199. That was probably first quarter of 2017. The currency had been dropping rapidly for weeks. It made a sudden rebound. I ad clients who wanted to purchase a house and were unhappy that the Naira was firming up as they wanted in bring in dollars (convert to Naira) to pay for it. The Naira suffered a free fall under Buhari a number of times. Similar drop was experienced in late 2021 (when the CBN banned sales of forex to BDC's) and even late last year (due to the Naira redesign and swap policy), It actually happened a 4th starting around mid June when the Naira started a rapid fall from around 365 around early second quarter 2020 hitting around 480 by November. I might be wrong here. The official rate remained at around N310 It should even be 5 times if we include the free fall that happened when Buhari assumed office. By January 2016, the parallel market rate was 310 while the official rate was stuck around 1999. That man was a disaster. 1 Like |
Re: Most Foolish President: How Buhari Set Tinibu Up For Disgrace by LordAdam16: 11:32am On Jul 20, 2023 |
grandstar: Osinbajo, Atiku, Obi would have carried out a less chaotic implementation. Heck, Tinubu self-sabotaged himself. His own policy documents, manifestos, and experts had it all laid out in plain terms. Why have experts if you would not listen to them? Most importantly, the government is barely 60 days old and has dealt a blow to the oil subsidy, a monster that held the economy in a stranglehold for decades in a matter of days. The ending of the multiple exchange policy which Nigeria de facto practised for the past 8 years due to Buhari's incompetence was demolished in less than 30days. There's a lot of turbulence in the market. The country experienced worse under Buhari. The government needs more time. It is too early to pass judgment. Buhari ended subsidy, albeit briefly. When he raised the price to 145 then 165, NNPC made profits on each liter sold. Then the oil price surged and he decided to reintroduce subsidy because the country had suffered through a recession and was just getting back on its feet. The multiple exchange rate policy had the same impetus. Again, many of the pains were self-inflicted. Like starting a tussle with the creeks when oil was at a decade low price. But the facts were that revenue was low across the board and a triage had to be done. There is no such thing as a perfect economic policy. There are always pros and cons. Round-tripping was the con of the multiple exchange rate policy, but there's a reason why Nigerian policy makers tend to turn to it when we're in dire straits. You wrote about when the Naira declines to 512 to a dollar if I am correct while the official rate was 199. That was probably first quarter of 2017. The currency had been dropping rapidly for weeks. It made a sudden rebound. I ad clients who wanted to purchase a house and were unhappy that the Naira was firming up as they wanted in bring in dollars (convert to Naira) to pay for it. The Naira suffered a free fall under Buhari a number of times. We've had two epochs of declines. From the tail end of Jonathan's tenure to when Osinbajo unified the rates during Buhari's extended bed rest in London. The second was triggered by the once-in-a-century pandemic. Within these epochs, there were lulls and periods of rapid declines, but the overall trend was negative. Again, Buhari had to work with sh*t fundamentals. He didn't cover himself in glory and he often worsened the economic downturn, but he stuck religiously to his fiscal socialist tenets. Which is that even if we only have little, Nigerians should get a morsel. That was the thought behind the variegated social programs including NPOWER, school feeding program, TraderMoni, reintroduction of the FX and gasoline subsidies. The downside of course is that it resulted in a boon for connected blue bloods to pilfer. I don't approve of this. I'm more of a fiscal conservative. The EFCC/DSS raids on BDC outlets, the banning of abokifx, the naira redesign, and many more moves instigated by Meffy were not for show. They were desperate attempts to manage the chasm between the divergent rates and inflation, while supporting his principal's economic position. Tinubu is a fiscal liberal. You do not switch a country's driving economic policy overnight or in a month. You need first-party access to the data and your experts need to run their models and what not. He didn't do that. And it's blown up in his face. Parallel market rate is 870 as of this morning. Official I&E closed at 793 (intra-day high of 853). And we're about to regularize monthly allocations of N2T, courtesy of the depressed FX rates. So where will he see the stubborn oaf of a CBN governor who'd say he'd want to make the naira appreciate by over 20% and cut their allocations by over N400B. Even the opposition will scream blue murder. And we've not broached the 10,000-pound whale called inflation. The West pretty much took a sledgehammer to their economies to stall spiraling inflation. Our floor is 20+% (compared to theirs of ~3-5%). And we As I said self-sabotage. There's a thread that opined that Buhari set Tinubu up. I think Tinubu stuck a fork in an outlet himself. You're saying it's still early days. But you don't put out fires by spraying accelerants. And that's what he is doing. Why has it taken him 6 weeks to put together a ministerial list? Why is he engaging in early policy reversals on the N500B conditional disbursals? I never had high hopes for him. But I at least figured he'd be better than Buhari. Like that's an easy bar to clear, right? And yet, he is flailing about. He can still turn this around but he has to get on it pronto. You have the policy, you have the experts, you have the backing of the entire political establishment, you have the press in your corner, what else does he need... Anyway, it'll be a good thing if he implodes early. Like Buhari, his lifelong ambition of being the GCFR has been achieved. Rather have 4 years than 8 years of maladministration. -Lord 3 Likes 1 Share |
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