₦airaland Forum

ABUJA (Reuters) - Nigeria's President Muhammadu Buhari is considering closing some embassies abroad, his office said on Tuesday, as public finances have been hit hard by a slump in vital oil revenues.

A committee will review all Nigerian embassies to determine those that are essential, the presidency said in a statement.

It quoted Buhari as telling foreign ministry officials there was no point keeping embassies "all over the world with dilapidated facilities and demoralised staff."

"Let's keep only what we can manage. We can't afford much for now. There's no point in pretending," Buhari said.

With oil accounting for more than 90 percent of Nigeria's foreign exchange earnings and about 70 percent of government revenues, the fall in crude prices and output has hurt finances and the naira currency, with foreign investors pulling out of its stock and bond markets.

The weakening currency has fuelled inflation and driven up the cost of food and other essential imports.

Buhari took office in May after being elected on promises to fight the endemic corruption and mismanagement of public funds that he believes has led to $150 billion being stolen from state coffers over the past decade. http://www.reuters.com/article/2015/09/08/us-nigeria-government-idUSKCN0R82DL20150908

The closing is necessary

chimoskyg:
The closing is necessary

Please explain why amd which ones?

Hehehehehehehe.

Make I no talk anything now sha

Good move.

I can help the President with the list.

biafranqueen:
Please explain why amd which ones?

because some are not jst necessary

chimoskyg:
because some are not jst necessary

chai!! I can't believe am sharing a country with someone thAt has this level of reasoning. Oga, log off nairaland and go to sleep, you're drunk

Anything to facilitate the fall of the zoo to give rise like a Phoenix from the ashes to bring Biafra is allowed

liberty300:
chai!! I can't believe am sharing a country with someone thAt has this level of reasoning. Oga, log off nairaland and go to sleep, you're drunk

Your opinion

And I have got mine

And I still said some are not necessary

[color=#1980BC] Yes.. Yes, good .. [/color]

space booked

liberty300:
chai!! I can't believe am sharing a country with someone thAt has this level of reasoning. Oga, log off nairaland and go to sleep, you're drunk

One of the impacts of the global recession is that it has compelled a number of countries to scale back their diplomatic representation overseas by closing some of their embassies. Faced with the economic and financial realities during economic downturns, governments often have little choice but to cut back on the spending that is involved in maintaining and operating embassies overseas.


Decide who logout

biafranqueen:
ABUJA (Reuters)

With oil accounting for more than 90 percent of Nigeria's foreign exchange earnings and about 70 percent of government revenues, the fall in crude prices and output has hurt finances and the naira currency, with foreign investors pulling out of its stock and bond markets.

Biafra loading

wen dey insulted Ngozi cuz she said Nigeria was broke I thought dey new wat dey were saying n ready for governance...... well I wasn't deceived...... proudly 5%

chimoskyg:
One of the impacts of the global recession is that it has compelled a number of countries to scale back their diplomatic representation overseas by closing some of their embassies. Faced with the economic and financial realities during economic downturns, governments often have little choice but to cut back on the spending that is involved in maintaining and operating embassies overseas.


Decide who logout

thank you besides North Korea closed 1 in 2008 which developing countries close embassies? Well for those that carry stamps plenty in passport book this is not good. For import and export business people this is a nightmare.

HyDee001:

This scenario is similar to something that occurred in my area months back.
When new electric pre-paid meters were brought and fixed for each individual, 25 units was freely granted to each customer.
I however observed that some individuals only switch on their meter between 7pm and 9pm to conserve the free units.
That's what the federal government wants to do. No matter how much you try to cut cost, you will still end up spending, just like no matter how much those people save their units will stop it from being exhausted.
Except this is a short term measure, government needs to create avenues for it to get revenue. Closing this and closing that might give us extra bucks, but then, that does not mean we are getting wealthy. We need diversify from oil NOW and get revenue from other sectors.

Absolutly! This is a similar quick fix it scheme they used at CBN that is now backfiring. I am all for cutting back government spending but this is not how it should be done. Creating revenue, especially by exporting is where they should be focusing. It is not easy to open Embassies for African countries abroad. The backwardness of this administration is appalling.

otr1:
Good move.

I can help the President with the list.

Is that right? Name 5 countries where we should close the embassies down help them out it is obvious they desperately need it!

ichidodo:
[color=#1980BC] Yes.. Yes, good .. [/color]

My Dear friend why do you say, just curious?

dialfa:
Biafra loading

Yes my Dear I feel you, but take into consideration as the country starts to sink they will fight for the last commodity that is filling dey belly. Look what is happening in Awaka Ibom now, we have to use strategy, comrade, brains not blood!

biafranqueen:
Is that right? Name 5 countries where we should close the embassies down help them out it is obvious they desperately need it!

But you're not the President

otr1:
But you're not the President

Trust me since we have no ministers Nairaland is where they come for advise so here is your big shot to land a advisory position, since all the slots are basically open

Close and creat more unemployment.
God punish Satan for giving us an illiterate presidiot

sdindan:
Close and creat more unemployment.
God punish Satan for giving us an illiterate presidiot

They will never think of that, quick fix it's are this administrations specialty!

biafranqueen:
thank you besides North Korea closed 1 in 2008 which developing countries close embassies? Well for those that carry stamps plenty in passport book this is not good. For import and export business people this is a nightmare.

There are quite more to achieve,
A country experiencing insecurity, corruption is the order of the day, economy declining, currency degrading and so on. Closing some will encourage domestic patronage, checkmate outflow of stolen money and more especially insurgence from boarders.

chimoskyg:
There are quite more to achieve,
A country experiencing insecurity, corruption is the order of the day, economy declining, currency degrading and so on. Closing some will encourage domestic patronage, checkmate outflow of stolen money and more especially insurgence from boarders.

I hear you but I gurantee they will not close the embassy in US, UK and other countries where stolen money is transferred.

biafranqueen:
Yes my Dear I feel you, but take into consideration as the country starts to sink they will fight for the last commodity that is filling dey belly. Look what is happening in Awaka Ibom now, we have to use strategy, comrade, brains not blood!

What is happening in Akwa Ibom?

biafranqueen:
[s]I hear you but I gurantee they will not close the embassy in US, UK and other countries where stolen money is transferred.[/s]

You dont live in Nigerian Maam

You dont have the qualifications or experience to contribute towards the greatness of this country

Concentrate on your family and stop crying every where. U have enuf problems with your own life

Dalu

jaytee01:
What is happening in Akwa Ibom?

DSS invaded and ransacked the Governors quarters, intimidating and destroying the whole place. You dey hear?

Yesterday, the AkwaIbom State Government House in Uyowas invaded by
armed men from the Special Squad of the DSS. They invaded the
Presidential Wing of the Government House in a commando-liked manner,
ransacked it, intimidated and harassed the occupants, claiming that
they were searching for bomb and documents!

One wonders when the Government House of Akwa-Ibom State turned to a
factory where bombs are made. Also, we wonder why men of the DSS were
overzealously looking for bomb in AkwaIbom State Government House,
instead of the Boko Haram ravaged North Eastern part of Nigeria.

- See more at: http://www.homelandnewsng.com/other-news/1859-gov-fayose-slams-dss-over-invasion-akwa-ibom-govt-house-demand-dauras-sack#sthash.yNEvD2nd.dpuf

Any economy that is built on austerity will crash. Greece tried it and they found themselves in deep shiiiiit.

Buhari and his handlers should start thinking more of generating more revenue to stimulate the economy not numbing it with cutbacks and threats.

biafranqueen:
Trust me since we have no ministers Nairaland is where they come for advise so here is your big shot to land a advisory position, since all the slots are basically open

I know you're joking! But if by chance you mean it, nobody comes here for advice on how to run Nigeria o.


I'm aware we have more than one embassies in some countries (eg, USA, S. Arabia, S.A etc). I think it's in our best interest to have only one in these countries. Then the ones in Pakistan, Iraq, Kuwait, Syria and Bangladesh should also be closed. That of Somalia should be closed permanently. We should also close all embassies in any African countries without embassy here (if any).

otr1:
I know you're joking! But if by chance you mean it, nobody comes here for advice on how to run Nigeria o.


I'm aware we have more than one embassies in some countries (eg, USA, S. Arabia, S.A etc). I think it's in our best interest to have only one in these countries. Then the ones in Pakistan, Iraq, Kuwait, Syria and Bangladesh should also be closed. That of Somalia should be closed permanently. We should also close all embassies in any African countries without embassy here (if any).

No I am not actually NL is a frequent website that government officials visit. Not that they come for advise but to feel the pulse of the people and to learn about public opionions on certain issues.

So I think we have like 92 and I actually agree with you that we should have maybe only 1 in US and UK etc; As for Somalia I would have to agree on that as well. Your observation makes sense on some points. Kuwait and Iraq actually hire Nigerans and we are doing business with them as well as Bangladesh has thousands of Nigerians in school and working. Maybe North Korea is an option.

But this is not going to make a dent in our expenditures, the way elimanating ghost workers did. We need a sound fiscal policy, not quick fixer uppers that look like we are doing something. If he really wants to make a difference cut the Senators and Governors expenses and salaries in half, that will save billions right way and in the long run.