CSTR2:
I have never wished her to fail na.
Pessimism is not the same as wishing someone evil.

grandstar:


I am apolitical. I don't care about GEJ. If you read my comments , you would realize they were constructive. Buhari is a honest man but his poor understanding of economics is his greatest weakness. I write about different countries.

jomoh:


Obviously like most Nigerians, you're lost on the motive behind the currency restrictions.

In fact I too was until I read this article and it made some sense which is the only meaningful thing about the post.

As said in the article, the restrictions were to safeguard the economy fro further dwindling. It was to reduce what Nigerians spend our reserve on. To curb the spending pending the time they get their economic team online and working.

It is obvious Nigeria is not earning much from crude sales again which is not the fault of the present administration. So it is only logical that our expenses be controlled too.

I have never for once doubted the Ability of this government even if I didn't understood the motive behind currency restriction then.

Dbboy:
That woman from ogun was given finance minister to placate OBJ because they are both from the same state.

Bgino:
misplaced haters makes disgraceful racists

Johnpaul2k2:
This Position is solely for the Educated Region ..............SOUTH EAST

South West and Miscalculations oooooooo

I pray it wouldn't happen to her

billyG:

He knows economy he has economic advisers,he knows what d rest of us dont,in due course this economoc dip will soon curve upward,very soon investors confidence will boostup,knowing we mean Biz,no more bribes,little graft,nothing drives shares prices up like investors confidence & corruption free biz environment.

chuna1985:



buhari is a known chief.

politricks:
These people should let me hear word. What did NOI the 'political heavyweight' and 'experienced' woman did to our economy except blowing grammar and dishing out statistical lies from God knows where. NOI made us think our economy is like barcelona when in actual sense it's like Chelsea all in a bid to give the impression that we are doing fine while carting away our money. Only a fool tries the same thing everytime and expects different result. Let us give this woman a chance oun no o ni fe te.

jstbeinhonest:
.Its disgusting when i seen tribalistic comments on the first page of a front page topic and nothing is done about it....Says a lot about Nairaland moderators.

Gbawe:


I agree with you. The main thing Ministers need is the ability to provide solutions innovatively allied with the bravery and uncompromising resolve to implement these solutions. The character, integrity, political will and 'body language' of the President of the day matters immensely also. GEJ was an innately weak, unprincipled, compromised and dishonest man who gave every Minister the impression they too could/should be crooked and indolent. Those who were not thieves by character and had the initial will to serve Nigeria quickly began taking part in the free-for-all looting because everyone was doing it and Mr.President, his wife and affiliates were also helping themselves copiously.

Under that system even like NOI became a lying mouthpiece given to deceiving the world with crap like "Nigeria is now Africa's biggest economy after GDP rebasing" along with hogwash about "economic robustness" and "good economic health" when some of us argued that she was lying given simple indices like dwindling allocation to States and borrowing $1 billion to fight boko haram when Nigeria had disbursed over $12 billion for the same purpose in the past without needing to borrow.

All in all, a talented novice can perform wonders under a president like Buhari whereas under GEJ the most brilliant "heavyweight" , with the biggest reputation, could become an unconscionable crook, like Allison_madueke, who will loot Nigeria mercilessly to impoverish many and destroy the future of millions.

jomoh:


Obviously like most Nigerians, you're lost on the motive behind the currency restrictions.

In fact I too was until I read this article and it made some sense which is the only meaningful thing about the post.

As said in the article, the restrictions were to safeguard the economy fro further dwindling. It was to reduce what Nigerians spend our reserve on. To curb the spending pending the time they get their economic team online and working.

It is obvious Nigeria is not earning much from crude sales again which is not the fault of the present administration. So it is only logical that our expenses be controlled too.

I have never for once doubted the Ability of this government even if I didn't understood the motive behind currency restriction then.

grandstar:


I know the motive but it won't work! 1 + 1 will always be 2 no matter your motive.

The best way to manage the situation is a devaluation! That is how you manage forex when it becomes scarce. This makes it less affordable and your imports dearer.

India has been down the route Nigeria is taking now and it failed them greatly. We even when down that route in the early 1980's when the oil price crashed. There was import licensing. It didn't work. Going back to one's vomit isn't wise

Gbawe:


I agree with you. The main thing Ministers need is the ability to provide solutions innovatively allied with the bravery and uncompromising resolve to implement these solutions. The character, integrity, political will and 'body language' of the President of the day matters immensely also. GEJ was an innately weak, unprincipled, compromised and dishonest man who gave every Minister the impression they too could/should be crooked and indolent. Those who were not thieves by character and had the initial will to serve Nigeria quickly began taking part in the free-for-all looting because everyone was doing it and Mr.President, his wife and affiliates were also helping themselves copiously.

Under that system even like NOI became a lying mouthpiece given to deceiving the world with crap like "Nigeria is now Africa's biggest economy after GDP rebasing" along with hogwash about "economic robustness" and "good economic health" when some of us argued that she was lying given simple indices like dwindling allocation to States and borrowing $1 billion to fight boko haram when Nigeria had disbursed over $12 billion for the same purpose in the past without needing to borrow.

All in all, a talented novice can perform wonders under a president like Buhari whereas under GEJ the most brilliant "heavyweight" , with the biggest reputation, could become an unconscionable crook, like Allison_madueke, who will loot Nigeria mercilessly to impoverish many and destroy the future of millions.

Themonster:
[s][/s]

Bastard you know more than Forbes

hopeless amala eater

jomoh:


Am not saying it will work and I don't think even PMB and CBN governor too does.

I think its only a temporary step to avoid the economy slipping into recession. Devaluation on the other hand is a permanent step that cannot be reversed once taken.

The two are like tablets and injection. Devaluation is the injection while the restriction is the tablet. Taking a wrong tablet can be reversed by an induced vomit but injection goes strait into the blood stream. The tablets works slowly which makes it reversible but the injection goes straight into the blood making the reversal impossible.

Nigeria cannot afford to devalue our currency anymore after towing the part at least twice already in a space of less that 4months.

The west knows that devaluation is a permanent move that cannot be reversed and will take the country sometime to gain its ground again. This keeps their economy running since they know that the little they get from us will be gotten cheap and they get to refine the raw materials and resell to us at a seemingly higher rate owing to the devaluation.
These are things that keep countries in their 3rd world country status. Much to the benefit of the developed nations. What PMB is doing requires a very disciplined economic team to pull off and no one can say PMB is a weakling.

How many times do you hear all these developed countries devalue their currency? They simply don't. Not because their economy don't enter recession but because they know the long term effect of devaluing the currency. They will rather find an excuse to place ban on some foreign products.

Kastonkastroll:
At the highlighted. That's what we have been telling the wailers, but they don't want to listen.

BTW is been long I saw your post on this forum. You are welcome back sir...

Kastonkastroll:
The writer of this junk is a fool. How can this fool blame buhari for the ineptitude of the past administration? Some of these so-called journalists don't deserve to be address as journalists.

And what did the so-called "experience" okonjo achieve as the finance minister under Jonathan? Aside from destroying our economy and lying to gullible Nigerians that they are the biggest economy in Africa, what has madam NOI achieve or what positive thing has she impacted on our already damaged economy?

Kemi will be 1000 times better than that madam NOI who joined forces with diezani/Jonathan to steal our $20billion....

Lyoncrescent:
I hope for Nigerias sake that she performs well.

In other news,Please vote for my ITIL BLUES Video in the ITIL Global Contest Video. See Link Below

http://www.omnikron.com/itil-global-video-contest

Thanks

voltron:


Hope is a prayer in hell.. we all need to decide whether we should take our leaders to the task or sit on the fence and watch for another 4 years without any active involvement (as usual)

Themonster:
[s][/s]

Bastard you know more than Forbes

hopeless amala eater

Johnpaul2k2:
This Position is solely for the Educated Region ..............SOUTH EAST

South West and Miscalculations oooooooo

I pray it wouldn't happen to her

Johnpaul2k2:
This Position is solely for the Educated Region ..............SOUTH EAST

South West and Miscalculations oooooooo

I pray it wouldn't happen to her

politricks:
These people should let me hear word. What did NOI the 'political heavyweight' and 'experienced' woman did to our economy except blowing grammar and dishing out statistical lies from God knows where. NOI made us think our economy is like barcelona when in actual sense it's like Chelsea all in a bid to give the impression that we are doing fine while carting away our money. Only a fool tries the same thing everytime and expects different result. Let us give this woman a chance oun no o ni fe te.