I have a wife, 2 children, 2 foster boys and a mother. I am at d upper level professional and I could hardly effectively manage my budget. My son (6yrs) has his needs, so's d daugter (3yrs), worse still my wife. Mind u these needs of theirs may completely be at variance with mine. These more often than not make nonsense of budget so meticulously planned.
My point is money is hard, economics is difficult and humans are impossible. Give ur advice when issue is current; postmortem is (in nigeria) largely fault finding

anonimi:


You must be talking about this =>




www.nairaland.com/attachments/2065934_image_jpeg9f360c5ab7736510df54c882e9dbf188

A Sovereign wealth fund requires a law establishing it at an alteration to the constitution otherwise it is an illegality. The federal government is bound by the constitution to distribute revenue according to a prescribed formula. NOI and the president surely know this. Even a good idea needs a legal foundation. The federal government has scarcely been able to explain the amount it receives from oil sales much less the amount it pays as subsidy, so the states are right to be suspicious and wary.

#change
#GMB
#APC

The real tragedy is not that we have incompetent people in government, but that a country with over 160 million people cannot come up with more suitable alternatives.

Buhari is not going to be a better alternative - simply because he lacks a workable vision for the economic development of the country.

It is sad but true - Nigeria may never be the land of dreams in our lifetime.

When ideals keep showing people power point presentation I was just laughing because all those analysis can only work under an ideal situation. Ours is an erratic and unsustainable state. Nothing good can come out of it. What Nigeria needs is deliverance from all power of devil. If you like go to Harvard university and get prof of economics ,nothing would be change unless we build our economy on TRUTH. When you see people like kolade of sure-p resigning, then you should know there is problem because those people can never compromise their stand.

Personal opinion; AM I BETTER OFF OR WORSE OFF?
As at December 2010, my salary was N100,000. I normally used N15,000 to fuel both car and generator monthly, N30,000 for food stuffs monthly, N15,000 for monthly house rent, then saved the rest for the future and investment purpose. But in January 2011, GEJ administration came up with removal of oil subsidy and a policy called SURE-P, some experts in economics and politics including the incumbent Edo State Governor rolled out the drums to support and celebrate this wishful program. The GEJ administration promised that in six months, proceeds from this program will be reinvested to repair our local refineries to function in full capacity, and by 2013 more refineries will have been built; better infrastructures, job opportunities, good health care facilities, security and quality education will be available to all and sundry. Today, 18th December, 2014, I tried to revisit my budget estimations, N15 000 to fuel both car and generator has increased to 25,000 monthly as a result of increase pump fuel price [PCHN not improving electricity supply], but my dear country is still presently refining crude oil abroad, the CBN has been saying that they been able to maintain inflation level, but whenever I enter the market to buy stuffs, the prices has never been the same compared to my last visit. Monthly budget for food stuffs increased to N45,000, my house rent is now N25,000. My younger sister who was suppose to graduate last year November 2013 [paying her school fees and upkeep], just graduated this year October 2014 after almost a year of the polytechnics strike [the longest in the history of Nigeria]. My cousin brother [staying with me] who graduated in 2010 went for the immigration recruitment exercise last year, lost two of his mates in the unfortunate and shambolic recruitment exercise ever organized in the history of the world by an interior Minister who recently sacked a prison controller and some other staffs for negligence and incompetence in Niger state jailbreak, which his own boss [GEJ] never found in him [still in GEJ’s Cabinets]. My childhood friend who happens to be from Adamawa State [Mubi] cannot travel home for Christmas because where he used to know as his home no longer looks like it. I am due for promotion this year, but my company told me they cannot promote [salary increase] me for now because of the adverse and instability of the country present state of economy [austerity measures]. My savings has continued to drop drastically.
NOW, I ASK YOU FROM 2011 TILL DATE, AM I BETTER OFF OR WORSE OFF?
2015 ELECTION is just two months away, I don,t know the decision to take with my vote. Should I still vote for the Transformation that has left me not BETTER OFF or I should vote for CHANGE which in my opinion its first agenda will be REVENGE? GOD BLESS NIGERIA!!!

tpwealth:
liar!!! U better don,t die in silence

Lol!

That's why I am speaking with my hands by writing the truth.

YES, I've been better off in the last 4 years!

kITATITA:

How many people get treated in your Federal Medical Center? How many of such hospitals exist. Was the President or any member of his immediate family ever treated there? What about enabling policies that affect even the primary medical centers? What quality of graduates are coming out of our universities? Nobody used me and nobody can? I pay my tax. Neither me or my immediate family use government hospitals or schools. But I have several people around me who need government facilities. And the poverty rate is scaring.

you misunderstood my points, we channel every blame to FG, why do we have state govts, state house of assembly and LGs. If we don't have good graduates coming out of Our unis, it means they did not have good secondary school education as well. So state govts are part of the system that produced fake graduates. General hospitals are run by states, how many of them do you know that functions? How many times have you critiqued your state governor? Apportion blame/critique where it's suppose to be, don't just call FG cos you don't like the person at the top. In the 80s in my state we use to have public water at least every weekend provided by state govt, but now nothing like that and I have not seen anybody critique my state governor for that. The governor have hoodwinked everybody to face FG while they loot the state treasury dry. Those governors critiquing the FG on bad federal roads, what % of state roads have they done in their various states.

omenka:
I keep asking myself how we ended up with a guy like Jonathan. Intellectually, the guy is just too damn handicapped. He seems to be absolutely ignorant of the least requirements of leadership, let alone, possess same. Then what baffles me even more is how anyone with a brain of a human could support a guy like this to preside over the affairs of a state.

The quote above summarises all there is to the person Jonathan.

And you want to vote Buhari?

Atleast, Iam happy to hear from some patriotic nigerians who come out at time like this to said the truth,because it is the truth dat can set us free.we need change and God will help us.

.

vigasimple:


Great points you have raised here.

The next logical question for you ( I presume in the change camp)

Is that, if we genuinely want to move this country

where are the 40-50 something year's old tested governors?

You mean them igbinedion and ibori mates?them dey prison for U.K.

d appointment of Ngozi Okonjo-Iweala as minister in charge of d nigerian economy remains to date d biggest economic mistake ever made by GEJ & d PDP. NOI's constituency & economic beliefs ar d same as those of d world bank, IMF & other  agents of neo-liberalism & tricke- down economics. NOI & her school of thought oppose subsidies & safety nets 4 d poor but support waivers & tax benefit 4 big business. Under d PDP d rich gets richer, d poor gets poorer.

PHIPEX:
I hate it when intellectuals keep quiet for something to go wrong before they speak up. I respect Soludo and Utomi alot but it is grossly unfair of them to wait by the corner and watch Iweala confront the politicians alone. I remember my Eco101 tells me that the best economic policies are still subject to political expediency. Why did they not join the fight against our political monsters who wanted every penny shared?

Our politicians are our greatest problem. The national assembly wouldn't want their jumbo pay sliced but will expect the finance minister to do wonders. All what most of them know is there is always money from oil and I keep wondering why none of these political parties is interested in telling us how they will reduce the current bogus overhead expenses of the government.

my man that is why we need a leader that is not weak! Someone that will take a decision without being scared!

Change2015:


A Sovereign wealth fund requires a law establishing it at an alteration to the constitution otherwise it is an illegality. The federal government is bound by the constitution to distribute revenue according to a prescribed formula. NOI and the president surely know this. Even a good idea needs a legal foundation. The federal government has scarcely been able to explain the amount it receives from oil sales much less the amount it pays as subsidy, so the states are right to be suspicious and wary.

#change
#GMB
#APC

Did you read what the JagaBandit head of Thief'nuibu CABAL actually said about the PASSED law or you are just blabbing

More likely that you are trying to distort FACTS and create the usual trademark CONFUSION on which APCheat's wobbly foundation is built and their FRAUDULENT house sustained.


BTW, you should remember this when shouting about reduced reserves ok!

hyfr:
Pat Utomi: "One of the things that strikes me is that,at this age we lack,institutional MEMORY to the extent that we REPEAT so completely mistakes of the PAST".. I got this message loud and clear. Gej for continuity

U dont get it. Gej was compared to Shagari.
Wasteful ppl.
It took a Buhari to sort dt issue out

Vig86:
People turn saints just by criticising GEJ's government. I would like to warn you (saints) that the heaven(APC) u are hoping for will never me a mirage. They have seen that the present government don't give a damn about them.

CONVERSATION BETWEEN SOLUDO AND PAT UTOMI

PAT: Hello, the economist

SOLUDO: my honourable colleague, how are you doing?

PAT: we give God the glory, at least we are still alive.

SOLUDO: Do you follow Nigeria politics?

PAT: are asking dog whether it still eats sh*t? You know that is where we belong.

SOLUDO: I have an idea, we need to seek relevance in the polity.

PAT: Relevance, how?

SOLUDO: I need to go back to the government but since the GEJ's government hardly notice my intellectual, it is better I pinch my tent with the controversial opposition, APC. I have watched their campaigns in the different states of the country and it seems they are gaining ground.

PAT: That is good idea but how do u intend to go about it?

SOLUDO: Criticism! If you watch very well you will see that the only thing that will earn you APC membership is just criticism, criticise GEJ's government and become a saint.

PAT: that is why always call you the "first-class brain" We need it now, we really need appointments if APC wins. Have you come up with anything at all?

SOLUDO: my honourable colleague, facts and figures are there to be used. How many of them are good with figures? Quote anything in percentage and they will agree. At least, we are authorities in the economy.

PAT: the chief economist, put something up let me support you.

SOLUDO: hahahahahahahahahahahaah

PAT: hahahahahahahahahahahahahahahaah

SOLUDO: how is family?

PAT: very good, and urs?

SOLUDO: lovely.
END!

my good broda, this is jst the super story we are watching in Nigeria.
criticism at d pick of election to make themselves saint before us.
please let me set my own record here to. my standard of living is far better than 4 or 5yrs back.
mr prof thanks for ur cricri sa. dont too worry u wil be appointed as minister when gej win second term.

omenka:
I keep asking myself how we ended up with a guy like Jonathan. Intellectually, the guy is just too damn handicapped. He seems to be absolutely ignorant of the least requirements of leadership, let alone, possess same. Then what baffles me even more is how anyone with a brain of a human could support a guy like this to preside over the affairs of a state.

The quote above summarises all there is to the person Jonathan.

Jonathan is right to praise the fact for the first time, entrepreneurs have emerged, as well as middle class. Pat Utomi will be the first to criticize him if he did otherwise. OBAMA, Merkel and Cameron does what Jonathan did daily. Pat Utomi is a failed economics and politician. Just like Soludo. We should lose any sleep over what Jonathan or NOI may or may not have done. The fact is there on record, that Jonathan was nearly impeached when he wanted to lower the benchmark. Remember that the National Assembly over ruled Jonathan/NOI. We are in a constitutional democracy, and must accept situation when it goes wrong. Not shed crocodile tears when oil price falls. Jonathan is in order. Pat Utomi, Soludo, Buhari, Tinubu, Amaechi and APC were wrong and out of order. I advise Nigerians to vote accordingly. Vote for Jonathan who warned about the impending fracas over the economy

Change2015:


A Sovereign wealth fund requires a law establishing it at an alteration to the constitution otherwise it is an illegality. The federal government is bound by the constitution to distribute revenue according to a prescribed formula. NOI and the president surely know this. Even a good idea needs a legal foundation. The federal government has scarcely been able to explain the amount it receives from oil sales much less the amount it pays as subsidy, so the states are right to be suspicious and wary.

#change
#GMB
#APC

am sure the constitution an electoral laws demand from all contesting election to present the least certificate to INEC or did that escape ur good memory, snce sovereign wealth fund is unlawful n unconstitutional.

kaboninc:


Its so easy when we place blames on others and most dangerously on the wrong person.

This issue you just highlighted was the same issue NOI has been shouting, fighting and praying that these politicians will see reasons. Yet it was one of the problems Amaechi had with GEJ in the Governor's Forum.

Its the same issue these ignorant APC goons keep using as a launching pad for the attack on GEJ for 'wasting' the ECA. Now this same Pat Utomi has come up with his own rag-tag analysis. We should ask what did these same Governors do with their own share of the ECA?

See, we do not know what it takes to become a leader until we become one, until we begin to assume a role as a leader and in fact, a very divided, complicated, complex and dynamic society as ours we'll never know or have an idea of how difficult and most times endangering it could be.

Now one question he asked if I am better off as a person in the last four years? My answer to that is YES. How? Roads have been re-constructed and time wastage on roads have been reduced. I ply these roads. Increased economic activity translates to improved bottom line results. Stable exchange rates, stable prices and a single digit inflation rate even in times of low oil prices - I guess he didn't notice it. Reduced food prices as a result of improving Agricultural sector. Crashed cement prices - affordable housing. Improved maternal health, reduced child birth and maternal mortality. As a creative entrepreneur, I get too many options to choose from in seeking grants (loans) from Micro Finance institutions not banks with their high interest rates. Reduced travel time (remodelled, upgraded airports) for international flights into the Eastern part of the country. YES, improved power supply and security especially here in Lagos. And so much more. Oh, increased allowee for Youth Corps members.

So YES, in four years, my life has been better off.

Thanks for ur sermon Kaboninc. To add to ur points, Pat Utomi was here in Nigeria when the governors, especially the APC faction were calling for the sharing of ECA what did he say as an exprd economist? Only d FG stood its ground b4 the governors went to court.
We should see ourselves as partners in progress with d FG irrespective of our political inclination.

GMB 2015

kITATITA:

It is not about Patrick Utomi. It's economics and facts. Is your life better now than four years ago?

. Actually,am worse off. But we can't say the same of GEJ and his camp.

tpwealth:
Personal opinion; AM I BETTER OFF OR WORSE OFF?
As at December 2010, my salary was N100,000.

you mean your income stagnated at N100,000 from 2010 to 2015?
Are you productive to your employers?
Looks like you do not deserve to even have a job.

Splashme:
[size=13pt]1) Pat Utomi was handed the popular Volkswagen Nigeria and he run it aground

2) Same Pat Utomi managed Platinum bank. The bank was weak and forced to merge with Habib to become Bank PHB. Even the Bank PHB, where is it now? We are now hearing of Keystone bank owned by new owners because Patitos gang could not manage it properly.

3) My point is, 'talk is cheap'. Nigerians love to criticise alot especially while outside of government. Pat himself could not manage very minute aspects of the economy to profitability. If Okonjo, Reuben Abati etc where not in govt there would probably be criticising too[/size]

Can you talk base on facts an not been emotional.?
Talkin about Volkswagen..which local automotive industry has been able to survive in during the period that Pat Utomi was incharge...remembered the likes of PAN,ANAMCO,LEYLAND,VOLKWAGEN..,doesn't that tell you that government policy "somersault"were responsible for the failure of those?because the likes of ELIZADE TOYOTA,SCOA NIG HAVE BEEN WAXING STRONG because they just import an sell.

Secondly,you talk about BankPHB..was Utomi responsible was it failures..as in can you proof that..Atuche was the MD of the bank an Kola Abiola was the Chairman..wt did Pat utomi do wrong??..Btw..I have always maintained that Sanusi only succeeded in creating unnecessary panic in the banking,if the banks were insolvent,he cud have just ask the shareholders to recapitalize the bank through "tru right-issues"that was wt SOLUDO did.

Mr. president did not make any mistake. please quit that blablabla

uyplus:


You ommited throwing more light on no3. "fiscal indiscipline and corruption are the hallmarks of this administration. maybe you can explain the missing $20b, $1.3trillion subsidy scam, pension funds, oduagate, 400k oil barrel being lost to bunkering daily e.t.c" He talked about corruption in government and oil barrels being lost to oil bunkering, aside the insecurity challenge the country is currently plagued with. The thing is, Jonathan should never be considered an option. He has failed woefully. If he couldnt achieve much in 6yrs with all the cash he had at his disposal, tell me what he can achieve in 4yrs with less cash inflow.

Honestly you are sick and needs urgent treatment. How do you know someone who has failed? What are your parameters, your criteria, your yardsticks, your performance indicators? What milestones and goals did you set for him?

It appears that question nos 1 and 2 are hog wash. So let me talk about the 3. You talk about $20 billion being stolen...is that not laughable? Even to the person who raised that allegation? That same person came up with $50 billion, then $10 billion, then $12 billion and later $20 billion and with your sick head, you choose to settle with $20 billion? Are you not pathetic? Oh...did he said stolen or missing? Let me help you - properly unaccountable!

You talked about pension scam, ask yourself, the man who stole that money, billions of naira, do you think he won't refund it? He was charged to court under the same law our sitting allowance lawmakers created and was handed a light punishment. Because you're sick you blame GEJ. Was GEJ the one who created that bill?

Was GEJ the one who perpetrated the subsidy scam? When it was made known that subsidy was eating deep into our national purse and causing us huge disappointments in building infrastructures, GEJ again in his wisdom decided to push for the total removal of that component. Is it not laughable and st.upidity for us to subsidise consumption rather than production? Yet it was people like you who kicked fiercely against it and now you open your mouth to talk about the subsidy scam. You're from the stone age I swear. Go and ask the Governors who you so cherish what they did with their own SURE-P funds.

To show how shallow we are in our thinking, we ask the silliest questions. See you asking about Oduagate. Like you really know what transpired. A BMW was purchased at a cost and is to be paid in instalments. The Federal Lawmakers actually approved the purchase in the budget. The problem is the price at which it was bought. But still, Cosharis has come out to say that that was indeed the price.

Let me help you...

Questions you should be asking are questions that have to do with the productivity of government agencies, department and parastatals that have the capability and capacity to generate funds. Ask that these agencies be audited. Push for it. That's your duty not blindly chasing shadows.

kaboninc:


Firstly, you do not even know what happens in Rivers State. You claim Amaechi has been saving? For whom? For what purpose? Why? For elections?

Because I do know that he is constructing a light rail from Mile 1 to Lagos which is JUST 50 NAIRA ONLY using either BUS or TAXI for close to 4 years. Yet GEJ constructed thousands of kilometres of rail lines across the length and breath of this country in 6 years. Now who is deceiving who?

In that same Rivers, GEJ is constructing the East-West road and Port-Harcourt - Owerri expressway. Amaechi said spent close to 100 Billion NGN constructing the Omagwa - Eleme section of the road which of course will be refunded but contested.

If you know what SWF is, you'd be the first to embrace and promote the concept behind it. Its laughable when you say its illegal. You should know its equivalent to the Stabilisation Fund your new comrade Utomi was talking about. Yet it was you Amaechi guy who spear-headed the fight against it.

So long as you're one of these APC fans, you won't be objective.

People give GEJ too much credit for the rail. He didn't actually construct the tracks out nothing. Most of them were existing and had been built several years before and after independence. He just resuscitated them with little maintenance here and there. The Abuja rail is one of the entirely new tracks and in 6years there is nothing concrete on ground as regards the Abuja rail

yhusiee:
loooooonggggg story. Guess I will b back much l8r 2 read it, dnt trust me though

Even if you read it, you'll not understand it. So spend your time at things that are important to you, like taking selfies etc.

Splashme:
[size=13pt]1) Pat Utomi was handed the popular Volkswagen Nigeria and he run it aground

2) Same Pat Utomi managed Platinum bank. The bank was weak and forced to merge with Habib to become Bank PHB. Even the Bank PHB, where is it now? We are now hearing of Keystone bank owned by new owners because Patitos gang could not manage it properly.

3) My point is, 'talk is cheap'. Nigerians love to criticise alot especially while outside of government. Pat himself could not manage very minute aspects of the economy to profitability. If Okonjo, Reuben Abati etc where not in govt there would probably be criticising too[/size]

So instead of tackling the points he raised, you decided to tackle him personally. I don't know you but I believe you can do better than that.

anonimi:



Did you read what the JagaBandit head of Thief'nuibu CABAL actually said about the PASSED law or you are just blabbing

More likely that you are trying to distort FACTS and create the usual trademark CONFUSION on which APCheat's wobbly foundation is built and their FRAUDULENT house sustained.


BTW, you should remember this when shouting about reduced reserves ok!

If you look at sections 7(6), 162(1-, 164 etc of the 1999 constitution, our superior law, you will understand that it provides essentially for the distribution of federal revenues. In the light of that any such purported savings scheme initiated by the Federal government is unlikely to withstand a constitutional challenge, if it involves the withholding of funds due to another tier of government without their express consent.

http://www.modernghana.com/news/370042/1/who-will-deliver-us-from-this-goodluck.html
Femi Fani Kayode - 2012

When President Olusegun Obasanjo was in power we spent 300 billion per year on the fuel subsidy. Under the administration of President Goodluck Jonathan it shot up to 1.3 trillion naira in the last one year alone. Can someone please explain to me how it got so high in 4 years and what exactly they were subsidising with the extra one trillion naira? When the Obasanjo government left power in 2007 the country was no longer in debt and the 30 billion dollar foreign debt that Obasanjo met when he came to power in 1999 was fully paid off.

Today, under the administration of Jonathan, our country is back in debt to the tune of 41 billion dollars (both foreign and domestic) and we are still borrowing. Can someone please tell me what the loans were used for and whether we will ever be able to pay them off? When the Obasanjo administration left power in 2007 our foreign reserves were 80 billion dollars even though when he came into office in 1999 we only had 1.5 billion dollars.

Today our foreign reserves have dropped from 80 billion dollars in 2007 to 33 billion dollars. Can someone please tell me where all the money went? When the Obasanjo administration left power in 2007 23 billion dollars was left in the Excess Crude Account after he built it up from nothing in 1999. Today we do not have one dollar left in that account because the money has been squandered and the account scrapped. Can someone explain to me who spent that money and precisely what it was spent on?
__

Obviously when it comes to managing funds, few people believe the federal government has much integrity. Now we have Soludo and Utomi giving their views on the economy and it's management. It is not only the APC that thinks things could have been better managed. Why rack up debt in the oil boom period? Even Obasanjo has commented on the depleted reserves as compared to his term in office.

#change
#GMB
#APC

(1) The number of Nigerian seeking admission in Benin and Ghana is increasing every day, (2) Nigerian youth seeking jobs inrespective of tne nature are roaming the like of Dubai, Malasia, Kenya, China and South Africa. Just check the traveling section (3) India government believed that 65percent of Nigerian seeking visa to there country is on health issues. ....

tit:


you mean your income stagnated at N100,000 from 2010 to 2015?
Are you productive to your employers?
Looks like you do not deserve to even have a job.

my dear its a pity u av attached ur brain to the amigo hair on ur head; as at december 2010 and december 18 2014 (if u read thru d post) its 4 years which am due for promotion. Go back to almajiri school established by clueless uncle

fritiyo:

am sure the constitution an electoral laws demand from all contesting election to present the least certificate to INEC or did that escape ur good memory, snce sovereign wealth fund is unlawful n unconstitutional.

And in your bitterness have you noted that INEC has said it has no problem with Buhari’s qualifications and that any aggrieved parties may use the courts as they are constitutionally entitled. And by the way a diploma from the USA war college is indeed superior to a wasc certificate but that would be of little interest to you! Education is more than getting the piece of paper, as clearly demonstrated by Jonathans incompetence.

#change
#GMB
#APC