₦airaland Forum

Ogbeni Emelife....Buhari will start by collecting the money you, your boss, GEJ and his ministers stole... we can realise 6 trillion naira from that. Why should we sell all and become tenants in our own house?

The cluelessness syndrome seems to have affected everyone GEJ appointed.

CHESSBOARD:
but I tot you said nothing was left, you said not even a dime was left in the reserve

I wonder where they got dat frm,u hear say naija money finish b4?

major466:
Wake up. You are living in a dream world.

You go back to sleep! You're useless awake!

Trouble dey sleep, inyanga dey march im tail, oga Godwin my hand no dey o !

[size=28pt]eba mi ki gbe OLE O OLE O

Even thief go dey follow shout OLE
Okonjo Iweala too go dey follow shout ole
FFK too go dey follow shout OLE
Diezani Alison-Madueke too go dey follow shout OLE
Bode George to go dey shout OLE
Farok Lawan too go dey shout OLE
Godwin Emefiele too self they shout OLE O
[/size]

I dont understand some of these people who are supposed to be highly knowledgeable in the field of economics, what is this man trying to do to us? is it now that the price of shares in oil related ventures have crash that we as a country should now sell our highly valued stakes in these oil companies cheaply, no sir no sir, the price of oil is set to rise 18-24 months from now, the slimming tension btwn russia and eu will eventually boil over, and the republicans r bound to win the next US election, oil is bound to rise again. please the new govt should look inward 4 money saving, they should try and cut out as much corruption and internal waste as possible, most of the major importers friends and family of Pdp do not pay import duties there is so much waste in the system, the major tasks needing solution is dismantling NNPC, attracting immediate investment in refining and associated industries, passing anti corruption bills (all federal and state govt post must require publicly declaration and registering of assests as a prequisite of office) security bills, kidnapping, terrorism armed robbery death sentences etc, Nigeria needs some major adjustment if it is going to progress into a stable viable modern state

skj1377:
I think this new CBN governor is senseless, not in tune with the realities of Nigeria. By now, I guess he should have known that the problem is not raising money to spend but the judicious use of moneys already raised. Selling your assets so you can raise money to spend is as dumb as possible . well I don’t expect much from a man appointed by a clueless and wasteful administration.
Just yesterday they raised money to spend by removing so called subsidy on petroleum and what did we have all manners of sham projects and wasteful expenditure. Then they raised money to spend about $1bn for security only to curb book haram and what did we get more insecurity. Besides, they have raised money to spend on projects like ZTE police telecommunication infrastructure worth $500million but never worked 3 years running, also $400million for Abuja metropolis cctv never worked 4 years running . Mr CBN governor please keep quite at least we will not know how dumb you are.

dont mind them..they are just looking for more money to steal...

WE ALL KNOW,THIS MONEY WILL NOT BE USED ON US,BUT WILL LAND IN THEIR POCKETS....

when leaders continue to play common text book economics of comparative advantage which have never worked and will never work for black nations. we keep doing as the western world says rather than as they have done.

Nigeria needs to stop exporting raw materials while importing industrially finished products such as clothes and food, we also need to stop trying to increase oil revenue through whatsoever means, the oil revenue should be a cushioning effect for the economy owing to the fact that we have population and intellect.

what the cbn gov should be advising are policies that would encourage true indigenous industrialization in different regions of the country rather than encourage more investors in the sector that continues to cripple the nations ability to manufacture.

lure oil magnates with wealth to divest in other fields so as to spread the wealth and open up other regions of the country. the wealth that has been looted is still within the pockets of the thieves, encourage them to reinvest with juicy tarrifs and policies, instead of creating more cash that runs the risk of being looted.

Pebcak:
[size=28pt]eba mi ki gbe OLE O OLE O

Even thief go dey follow shout OLE
[/size]

This is a terrible idea!! When the 14 trillion finishes, then what next? Nigeria stands to gain more holding its stake than selling it!

This CBN guy is ONLY thinking about now and not the future. It's a bad business advice.

It's better to hold the 55% stake indefinitely and have major influence on the deal. The money it generates continously is more than enough to make a huge difference in infrastructure.

The ONLY good time to sell your stake in any business is when you realise the business is going under and can't be resuscitated.

NobleG1:
This is a terrible idea!! When the 14 trillion finishes, then what next? Nigeria stands to gain more holding it's stake than selling it!

This CBN guy is ONLY thinking about now and not the future. It's a bad business advice.

It's better to hold the 55% stake indefinitely and have major influence on the deal. The money it generates continously is more than enough to invest in infrastructure.

Spot on !

Honestly, these people don't think !

they want to ensure that Nigeria is bankrupt with nothing left for the future generations!

barcanista:
What a silly advice that will only solve short term problems. What happens in the long term after the N14.93 trn has been exhausted? It means less revenue for us and more problems in the future. Oga CBN Governor, I beg no try am o... This is NOT good for us in the long term.

u get brain

This is the type of people we have in Government in Nigeria.

What an advice.

GMB should be watchful. They are
scheming to make him fail from day one.

For once, the general sentiment is right. This is a terrible idea. Even if you want to sell the stakes, this is the stupidest time to sell them.

My goodness! what an idea in a country where corruption has run rife and at a time when petroleum resource value sits in a dip.
Mr Emefiele, go ask nations like Qatar, Algeria, Kuwait, UAE how they got it right in the management of their natural wealth.
I would prefer to believe this was misconstrued and not his actual suggestions as a confirmation of this would entrench my doubt for his knowledge of societal wealth management.
The current joint operating body (JOB) sharing formula in Nigeria is the worst I have seen in about 12 countries I know of as an oil professional.
Take Algeria as a case study. No individual owns petroleum assets and multinationals only come in for technical partnership with a sharing formula that allows for investments over a timed development period. This arrangement forces efficiency as you would only get a share of your achieved profitability. Algeria has more than 190 Billion US Dollars foreign reserves and a growing proven petroleum reserves.

Emefiele means "do no wrong". Please stand by your name sir.

Gosh!!!

http://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves

Emefiele were is our foriegn reserve? we want our money back!were are u when Zonah & d 40 thieves are dipping their kleptomanic fingers in2 our $ reserves,when all those looted fund are recovered we will hav enuff money 4 dev.

There is no need for that mr CBN governor,

all the general need to do is block the leakages from the crude account, through which money are being syphoned into corrupt pockets.

How about we all take a breather and think very critically on the present situation of our economy viz a viz our embezzled stolen wealth which are domicile in the hands of a very tiny few and stashed in their private storage facilities and of course not in our local currency.

The economy has been deliberately and subtly dollarized such that our politicians have depleted our foreign reserves and mopped up the value of the naira in circulation such that when you go through the cash flow in terms of naira in our economy and the books of the respective banks you'll begin to see how Buhari shouldnt be envied with the huge task ahead in terms of saving the economy.

The effect of the wanton dollarisation of our economy has simply rendered our local currency worthless and to the benefit of the stealing politicians.

Just thinking aloud tho,my head wan burst.

Go n advice Jonathan ur gods fada n leave us alone. Wat kinda of useless advice is dat.... Emefiele abi wetin b dat ur name sef, c mind ur busines abeg n.....se

stronger:
Well, selling off now is the right thing to do ONLY if the GMB govt will be responsible. If they spend the funds wisely, it's better to sell. Even if they don't sell, they'll still loot if they want to. Not selling doesnt stop that.

u made an excellent point.I was xpecting d cbn gov 2b thinkin in terms of better investments 4d future, savings and advocating better accountability not just outRight selling.as long as d assets are still bringiin income u don't sell xcept they bcom a liability.as a former bank MD he shud no better.am a bit disappointed

Lmao!

Who made this m0ron the head of a country's CBN? When other countries are nationalising assets, to maximise investments and have something for future generation - this obtuse bell is trying to sell off parts of the assets the country has mismanaged since independence, with low stakes in.

This is akin to selling ya assets to buy clothes, shoes, and cars - just to look fly with swag for the time being. So what happens when all those clothes are worn out?

They might as well sell the whole country and hand the folks in there some crumbs to eat, so that future generations can become slaves lol.

Where do they pluck these educated illiterates from, though? Lool

Seun:
For once, the general sentiment is right. This is a terrible idea. Even if you want to sell the stakes, this is the stupidest time to sell them.

gbam..thank you...

By the time you sell and share the proceed to State Governors as required by law, there's no guarantee this fund will be judiciously expended on capital projects as some states like Osun and Benue might use it to clear the backlog of salary arrears.

Yet, this move might lead to a revamping of the non-oil sector assumming it is possible to do so within a short time frame.


It's a choice between continuing to develop at snail pace or seeking accelerated development through foreign investments and this'll mean relinquishing some of our hold in the oil sector in exchange for quick cash. Could be the much talked about catalyst for a drastic paradigm shift in Nigeria's fiscal policy.

I don't think what we need now is to sell off our most priced asset..If BUHARI needs Money
1)Let Buhari Force all corrupt officials both in PDP and APC to return all looted funds at least 90% of such funds with 100Billion achievable target,including the World Bank Confirmed Looted Funds
2) Remove all import waivers and appoint KPMG the accounting auditor for Nigerian Customs Service,NNPC,FIRS and other revenue generating agencies
3) Reduce by 40% Salary,Pension and Security Votes for all Governors ,MPs and Even the President and Vice-President
With these steps fully implemented you don't need to sell any asset to generate money...CONSERVATIVISM IS THE WATCHWORD

In simple terms what Emefiele is saying is thet Nigeria is seriously broke as GEJ and his cohorts have drained the treasuries and ruined the economy. What an admission!!

Somebori break down dis grammar fo lay man English joor

Buhari is not as dumb as GEJ. To imagine that these are the calibre of people Jonathan had by his side one cannot help but but rejoice that he lost the election. Nigeria would have been doomed under another 4years of his clueless, incompetent rule

Billyonaire:
This is a policy somersault that is capable of re-defining Nigeria as we know it. If Nigeria is to sell off its 55% Equity in the Oil Sector just to raise N14.9 trillion; Where will the Federal Government raise the Monthly Allocation she shares to the States every 4 weeks ? What if the N14.9 trillion is misused and the country goes broke, then we become another Greece.

May be this is a way of making the States think of how to raise funds to cater for their needs instead of parasitic dependence on the Federal Government, but its a grave idea to have people richer than the Government. This is extreme Capitalism that Nigeria can not afford to buy into. This is NOT USA where Tax regimes and brackets are strong and enforced. This is a single bullet that can destroy Nigeria economically.

Emefielie by this singular suggestion should be made to resign from CBN, because illiterate Buhari might buy into this idea and its going to be the end game for the contraption called One Nigeria.

buhari have to be very wise,to lead nigeria....or else he has no chance....

and i mean "very wise"...

i am tsdarkside...

Having just recently unbundled the power sector by opening it up to foreign direct investment, with the recent privatisation of NEPA/PHCN, I'm at a loss as to why the government would still need to invest heavily in power?


I say this because Ebonyi State for instance, as beneficiary of this unbundling, is partnering BET, a power company to generate some 4000 megawatts through a PPP arrangement with the State government providing only abount 20 percent of the counterpart funding.

Other States need to think outside of the box as well to see how they can have similar arrangements with government creatingg a level playing field and making minimal financial input.


Rushing to sell "our oil" (note our oil in quote)l, a resource "we" could fall back on in the event of an unforeseen contingency might not actually be the best idea.

Foe this statement alone this fool should be tried and jailed for life

i say every state,create their own constitution,their own meaning of ruling.......

lets be serious for ones....the igbos are right...if your leader in such a high position is suggestion something like this,then nigeria issss a failed state...sorry,this is my own one kobo...