₦airaland Forum

Renowned businessman and founder of Coscharis Group, Cosmas Maduka, has stated that Peter Obi would not have implemented policies different from those of the current administration had he won the presidential election.

Speaking in an interview on Mic On Podcast with Okinbaloye via YouTube on Saturday, Maduka asserted that Nigeria is moving in the right direction despite the challenges, emphasising that critical economic policies, such as subsidy removal, would have been inevitable under any government.

“People have asked me, will Peter Obi have done anything different if he won the election? I said no. He would have removed subsidy from day one also,” Maduka stated.

Addressing the concerns surrounding the naira’s value and economic hardship, Maduka acknowledged the difficulty in making such statements as a wealthy individual but maintained that the government’s priority should be reinvesting the savings from subsidy removal into infrastructure development.

“The government should be more disciplined to use the money they have removed in the subsidy to put it in infrastructure so that people that you have taken from, those who have been flying private jets from subsidy money, their businesses fall. But if you collect that money from them and put it in ventures that favour the general public, then there is progress,” he explained.

He further cautioned that if the government fails to channel the funds into productive ventures, the country will remain stagnant.

“If you move from one tomb to another, you are still in the same graveyard. You haven’t gone anywhere,” he remarked.


Maduka also touched on the country’s debt situation, noting that borrowing itself is not the problem, but rather the purpose for which funds are borrowed.

“The borrowing of a country is not a problem. What is the problem; Are you borrowing for capital development? Are you borrowing for infrastructural development? Because it will pay back itself. But if you are borrowing to take a second wife, if you are borrowing to share money for poverty alleviation, you are deepening the hole that, after we get inside, nobody can bring us out,” he said.

He emphasised the need for fiscal discipline in governance, urging the government to curtail excessive spending and ensure that resources are directed towards projects that will benefit Nigerians.

“There is some level of discipline that is required to curtail excesses from the government. Are we in the right direction? Yes,” he said.

mrvitalis:
Honestly speaking anyone who believes subsidy has been removed is not smart or lying because it's so obvious we are paying more subsidy now than ever

The policy are the same the implementation is different... What actually killed The economy was the attempted floating of naira that Tinubu did

Obi was clear... That's he would 1) borrow lump some 15 billion dollars 2) devalue the naira to the amount he knew he could easily defend for a while... Because in currency economics trust us everything
3) he said he would invest in human capital development and SMEs would get a huge chunk of that 15 billion in areas we have comparative advantage in

Borrowing and investing in infrastructure right now with our economic situation is foolishness... It's like a man struggling financially then borrow money to build a village mansion


Economics is not hard our people just don't read

Bobodee09:
Is nice to know you economics better than maduka.

I know you are Billionaire and just hiding your identity.

yarimo:
The agulu fraudster will make sure everyone is drunk

mrvitalis:
Honestly speaking anyone who believes subsidy has been removed is not smart or lying because it's so obvious we are paying more subsidy now than ever

The policy are the same the implementation is different... What actually killed The economy was the attempted floating of naira that Tinubu did

Obi was clear... That's he would 1) borrow lump some 15 billion dollars 2) devalue the naira to the amount he knew he could easily defend for a while... Because in currency economics trust us everything
3) he said he would invest in human capital development and SMEs would get a huge chunk of that 15 billion in areas we have comparative advantage in

Borrowing and investing in infrastructure right now with our economic situation is foolishness... It's like a man struggling financially then borrow money to build a village mansion


Economics is not hard our people just don't read

mrvitalis:
google :argumentum ad verecundiam

Commerce and macro economics are world apart oga... I have post BSC degree in the field so I can hold myself down

No body in Tinubus cabinet is more qualified in the matters of macro economics than me and that's ok period 100%

BreconHills:
He would borrow from whom and at what rate? What is the lead time for those "production" infrastructure programs?

How does Nigeria settle it's immediate $7bn due debt, and make allocation to states during that time?

Is it the 15bn he wants to use to defend the naira? Who will give him money to defend the naira? Where will they get their interest and principal payments from.

Sometimes you just have to say people who believe in that guy are 🤡🤡🤡's with a capital C

franchasng:
No need focusing on Peter Obi now, he has left the stage for Yorubas to battle it out with their Northern masters led by their former god El Rufai.

Please Ronu Terrorists should direct all their ogbunaigwe to the right place; El Rufai and his ever increasing Northern alliance for 2027.

Osetigo

tutudesz:
Seriously So all his economy adviser's with years of experience are not smart
Post Bsc degree or Post Graduate degree a post graduate degree holder wouldn't say a Post Bsc degree.

LegendHero:
Ibo minority should observe how Yoruba majority interact with the Hausa majority.

Na only people wey don win presidential election fit talk.

El-Rufai na our boy. Jagaban sabi how to treat neophytes like him.

You don see any strong Northerner backing El-Rufai from APC? Because they know he is just a rabble rouser.

kettykings:
One of this country’s biggest problems is its obscene overhead costs. Even the United States is slashing its own. Meanwhile, Nigeria burns cash on wasteful governance.

If Peter Obi had managed resources, every minister would have driven Nigerian-made cars, sat on Nigerian-made furniture, and slashed their bloated entourages by over 90%.

The result? Nigerian companies would have built vehicles for government use, furnished government offices, and the outrageous Aso Rock budget would have been redirected to industrial and agricultural development.

There would have been no pointless universities in Osun and Ekiti—just another reckless drain on resources. No vanity coastal highway, another billion-dollar ego trip. Instead, Nigeria would have actually invested in its future.

Those extra universities and barracks which are pure waste of funds should be canceled by Tuesday next government

franchasng:
Yes oh, let the Yoruba majority slug it out with their Northern masters, we the Igbo minorities have left the stage for you majority tribes.


Thank God IBB published his eye-opening book at the right time, making the world to understand that Awolowo like MKO Abiola sponsored the 1966 coup they turned around to erroneously tagged Igbo coup.


IBB made it clear that Igbos made mistake fighting for Yorubas, that it was Igbo people's mistake of trying to stand for the Yorubas that made North to turn against Igbos.


Same way the North and Yorubas came for Igbos for standing up for Goodluck Jonathan an Ijaw man.


We Igbos are learning from history and from our mistakes of the past.

Ojukwu tried to fight for Ogundipe to take his rightful position as Head of State instead of his Junior Gowon.


Nzeogwu and co tried to help Awolowo fight his political battle with Akintola, Ahmadu Bello and Belewa and it bounced back against Igbos.


The best thing Igbos should do now is to remain onlookers while focusing on their entrepreneurship and business growth worldwide and let Yoruba majority tribe slug it out with their Hausa-Fulani masters this time.



We wish you enemies of Nigeria's progress whatever you people wished for Igbos and Nigeria in your innermost hearts

mrvitalis:
Honestly speaking anyone who believes subsidy has been removed is not smart or lying because it's so obvious we are paying more subsidy now than ever

The policy are the same the implementation is different... What actually killed The economy was the attempted floating of naira that Tinubu did

Obi was clear... That's he would 1) borrow lump some 15 billion dollars 2) devalue the naira to the amount he knew he could easily defend for a while... Because in currency economics trust us everything
3) he said he would invest in human capital development and SMEs would get a huge chunk of that 15 billion in areas we have comparative advantage in

Borrowing and investing in infrastructure right now with our economic situation is foolishness... It's like a man struggling financially then borrow money to build a village mansion


Economics is not hard our people just don't read

Dongquai:
my question is if he is this savy economically, why couldn't he apply it during his governance in anambra that poverty increased under his watch after 8 years of governance?

LegendHero:
Shey na me you come type this long epistle for?

okosodo:
The only problem of an igbo man is another igbo man

Killerofpigs:
E hard you to read?

When educated people smash your conehead with facts..you become mute with foolish rebuttals.

mrvitalis:
Honestly speaking anyone who believes subsidy has been removed is not smart or lying because it's so obvious we are paying more subsidy now than ever

The policy are the same the implementation is different... What actually killed The economy was the attempted floating of naira that Tinubu did

Obi was clear... That's he would 1) borrow lump some 15 billion dollars 2) devalue the naira to the amount he knew he could easily defend for a while... Because in currency economics trust us everything
3) he said he would invest in human capital development and SMEs would get a huge chunk of that 15 billion in areas we have comparative advantage in

Borrowing and investing in infrastructure right now with our economic situation is foolishness... It's like a man struggling financially then borrow money to build a village mansion


Economics is not hard our people just don't read

mrvitalis:
google :argumentum ad verecundiam

Commerce and macro economics are world apart oga... I have post BSC degree in the field so I can hold myself down

No body in Tinubus cabinet is more qualified in the matters of macro economics than me and that's ok period 100%

mrvitalis:
Mention one Tinubu appointee that have a masters in macro economics or 5 years experience in a macro economics position and get 100k I dare you

That's if you know difference between micro economics position and macro economics positions

Lmaooo same basic mistake Buhari made Tinubu doubled down on it... Packed micro economics everywhere

Like inviting a pharmacist to do surgery Lmaooo