Did President Buhari Reduce Kemi Adeosun, To A Glorified Figurehead? - Politics (2)

Did President Buhari Reduce Kemi Adeosun, To A Glorified Figurehead? - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Did President Buhari Reduce Kemi Adeosun, To A Glorified Figurehead? (3533 Views)

1 2 Reply (Go Down)

Re: Did President Buhari Reduce Kemi Adeosun, To A Glorified Figurehead? by NavierStokes(op): 7:33pm On Jan 24, 2016

wirinet:
Yes the excess crude account is unconstitutional. It is not the sharing of the excess crude account that was the main problem of the governors, it was the unilateral withdrawals by the Jonathan's administration without permission from the governors that caused mistrust between the FG and states. Nobody could trust Okonjo Iweala and Jonathan with their share of federal allocations.

The governors share of the excess crude account is only about 24% while the FG's share is about 52%, why did the FG andnot save some of the FG's share in a special account for the rainy day. Was it the states that was responsible for the FG not being able to save it own share of allocation and still run a deficit budget?

I will make a few pointers here, how much was the minimum wage at the time compared to other administrations? How much was the budget say compared to 1999 or earlier? How much was the corpers allowances compared to other administrations? How much was spent by the cbn in defending the naira over the period? Just to add expenses skyrocketed with the price of oil so in the actual sense we can not say that the jonathan administration was hugely at am advantage compared to other administrations. Based on your response and if you are interested, i could give you links to the activities of a one time cbn governor, as well as post a chart showing the comparison of global growth and oil price so you see that they are hugely proportional. (Growth is proportional to spending and other economic activities).

Re: Did President Buhari Reduce Kemi Adeosun, To A Glorified Figurehead? by wirinet(m): 8:01pm On Jan 24, 2016*

NavierStokes:
I will make a few pointers here, how much was the minimum wage at the time compared to other administrations? How much was the budget say compared to 1999 or earlier? How much was the corpers allowances compared to other administrations? How much was spent by the cbn in defending the naira over the period? Just to add expenses skyrocketed with the price of oil so in the actual sense we can not say that the jonathan administration was hugely at am advantage compared to other administrations. Based on your response and if you are interested, i could give you links to the activities of a one time cbn governor, as well as post a chart showing the comparison of global growth and oil price so you see that they are hugely proportional. (Growth is proportional to spending and other economic activities).

You did not respond to my submission that the main reason the governors were on war path with the FG's creation of the excess crude account was the lack of trust and transparency on the part of the FG. You cannot be comfortable with someone who you mistrust holding your money.

You have a point in explaining the hike in public expenditure under Jonathan, but what you stated is only half the reason. Corruption accounted for up to half of the reason Jonathan was unable to save. There was massive corruption in the fuel and kerosene subsidy regime, so much so that the cost of subsidizing petrol and diesel was almost half our national budget, and it was not budgeted for by the national assembly. Then there was was the import waiver regime where Okonjo Iweala made Nigeria lose hundreds of billions of naira in subsidy waivers for such stupid items like rice, luxury cars and even oil imports. The NNPC could not account for how much crude it sold and how much it remitted. There is customs, NLNG, immigration and even CBN, all these agencies were not remitting money to the FG.

The other revenue streams are avenues for raising income into the federation account from where the states are supposed to get 24% of their share and yet they get nothing. The same FG cheating the states of these revenues would then come back and propose that it wants to help the states save a portion of their share of the oil revenue. If you were a governor, would you agree?

Re: Did President Buhari Reduce Kemi Adeosun, To A Glorified Figurehead? by NavierStokes(op): 8:35pm On Jan 24, 2016

wirinet:
You did not respond to my submission that the main reason the governors were on war path with the FG's creation of the excess crude account was the lack of trust and transparency on the part of the FG. You cannot be comfortable with someone who you mistrust holding your money.

You have a point in explaining the hike in public expenditure under Jonathan, but what you stated is only half the reason. Corruption accounted for up to half of the reason Jonathan was unable to save. There was massive corruption in the fuel and kerosene subsidy regime, so much so that the cost of subsidizing petrol and diesel was almost half our national budget, and it was not budgeted for by the national assembly. Then there was was the import waiver regime where Okonjo Iweala made Nigeria lose hundreds of billions of naira in subsidy waivers for such stupid items like rice, luxury cars and even oil imports. The NNPC could not account for how much crude it sold and how much it remitted. There is customs, NLNG, immigration and even CBN, all these agencies were not remitting money to the FG.

Amico, most of these components you mention pale in significance as against the amount frittered at the CBN, On the issue of subsidy I will give you an account which you might have never come across, do you realize that the challenge with subsidy arose in 2010/2011 and as at then we had a cabal running the system, and what did happen was that along the line, the acting president got into the system in the midst of this debacle, where people were making subsidy claims here and there (2010 =NGN 673bn, 2011 = NGN1.3 trillion revised to NGN2.19trillion), and what did the young president do? he called for a cancellation of the subsidy, his reasons being that there was a cabal that was holding the nation to ransom, but some people gathered in Lagos, called themselves an SNG, leading the occupy Nigeria protests and the rest you know . I will stop here, dinner calls
That administration wasn't as bad as they made a lot of us feel, NNPC 49 or 20 billion USD is a matter for another discussion etc.

Re: Did President Buhari Reduce Kemi Adeosun, To A Glorified Figurehead? by coolscott(m): 12:09am On Jan 25, 2016

ifelovemi:
You people should STFU, can you honestly tell me what kemi as done wrong since she became the finance minister that warrant you people saying she doesn't have the experience, she is barely 3 month into her tenure and all hell has been let lose from people like you that she does not have the required experience. What did we get from the experience of Ngozi or Soludo in the last 16 years, we are where we are today because of there so call stupid experience.

I think its is high time Igbo people stop this "I better past my neighbor" attitude. For me you are only castigating kemi because she is not from your side, because i don't see what magic anybody could have done in 3 month to turn the fortune of Nigeria overnight as you expect her to do. When we had the opportunity, your lord and experienced Ngozi could not do jack.

So please lets try our local inexperience Minister, since all international experience had failed us.

God bless Nigeria

It is not about if she is technichally competent or not.
It is about

1) Can she stand up to Buhari when he wants to do what he wants to do with the economy? Buhari is no finance expert and we know he loves to have his way even if he has experts around him.

2) Has Buhari set up the ministries to be less powerful and less efficient than it should be? How effective can she be as finance minister since Budgeting and Planning are not under her jurisdiction?

3) Has the arrangement by the president from the word "go" set her up to be a glorified figurehead?

1 Like

1 2 Reply

PDP Attacks Osinbajo, Calls Him A Figurehead • Nigeria Hungry For Infrastructure, NOT Iphones - Adeosun To World Bank • Jibrin Advises Adeosun To To Halt The Payment Of Reps Running Cost • 2 • 3 • 4

Please, What Exactly Are They Saying In This Video? • Nollywood Actor And Lawyer Andy Okeke Storms Court To Defend Nnamdi Kanu • Mock Election Ongoing On Twitter: Buhari Vs Opponent Result In Pic