Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,165,302 members, 7,860,737 topics. Date: Friday, 14 June 2024 at 03:16 PM |
Nairaland Forum / Nairaland / General / Politics / "The Economist" Accuses Buhari Of Worsening Nigeria's Economy (34988 Views)
Akiolu Accuses Buhari Of Killing Police As Military Dictator / Tom Marino Writes Kerry, Accuses Buhari Of Autocratic Tendencies / Solomon Asemota Accuses Buhari Of Appointing Islamist Jihadists (2) (3) (4)
(1) (2) (3) (4) (5) (6) (Reply) (Go Down)
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by tsdarkside(m): 11:09am On Jan 29, 2016 |
grandstar: then we shouldnt do it by force..... let it devalue naturaly... fact is: we dont have dollars!!... the naira will devalue anyway....but we must not force it to devalue.... buhari is doing the right thing...let the market will regulate its self.... |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Guyman02: 11:21am On Jan 29, 2016 |
benpedro: You people are part of the proble; why all the focus on foreign investors, the foreign investors cant ignore a country with 200 million consumers. You should encourage NASS to spend that N4.5b on Innoson and other locally assembled cars here in Nigeria and not import totally finished Toyota cruisers. If local assembling plants want FOREX CBN can make it available to them to import essential items that can not be fabricated here. Why do you import a finished car when industries in Aba and artisans in Oshogbo can make car seat covers? No country does that, Iran just signed an agreement with Peugeot in France yesterday for 200,000 cars to be produced by Peugeot in Iran not imported from France. 1 Like |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by NavierStokes(m): 11:22am On Jan 29, 2016 |
tsdarkside: At the momenrt it doesn't seem like Laissez Faire, because as has been pointed out the true value is on the parallel market. if I should add, a lot of people were busy complaining about declining reserves, not knowing that a sizeable chunk of our reserves were actually held by foreign investors who pulled out when things started heading south. I will post a link to an article below, from Sanusi's tenure, please take time to read and I do hope people will stop the hullabaloo of accusing NOI and Jonathan of frittering our reserves. http://emerge-ng.com/newsletter-editr/how-sanusi-put-the-naira-in-trouble/ |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Guyman02: 11:24am On Jan 29, 2016 |
OnyiloG: Google the profile of the company and what they have achieved in the past to know how genuine they are. Ask somebody in that area to investigate the office for you if you are not within PH so that you dont spend your transport travelling from Lagos to PH only to meet GNLD or Tianshi lecture |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by onatisi(m): 11:27am On Jan 29, 2016 |
Less than 12 months in office,everything we predicted about buhari is coming to pass with lightning rapidity. The next issue now in the next couple of weeks will be massive sackings across the nation, from both private and government agencies then more ppl will join the anti buhari group |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Guyman02: 11:27am On Jan 29, 2016 |
grandstar: This is a selfish solution meant to benefit importers and which will not stimulate local production and exports. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by onatisi(m): 11:29am On Jan 29, 2016 |
Guyman02:Why don't you influence buhari to spend the 3.6billion naira he budgeted for BMW cars from Germany on innoson cars in ananmbra? 2 Likes |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Hengineer: 11:38am On Jan 29, 2016 |
NavierStokes: You agree that the OPEC president is typically the petroleum minister of a country. You agree that the petroleum minister is an employee of the president of a country who will typically take orders from his boss. You agree that an OPEC president (an employee of a country's president) can push to stabilize global oil prices. But in your wisdom, you think it is a silly idea for the president of a country to say he will push for a stabilization of global oil prices (obviously through his petroleum minister who is an OPEC president). Don't you think there is something absolutely wrong with your logic? |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Laid2001: 11:41am On Jan 29, 2016 |
I am in full support of the current government policy. I have lived in Asia before and I have read extensively about the Asian tiger meltdown of the late 80s and early 90s. Buhary is mimicking the Malaysian policy of then. Control devaluation, import restriction, encourage local manufacturing and re-orientation of the populace. In fact, the speculative billionaire, Soros, was declared a personal non-grata in Malaysia and many economic saboteurs were sent to jail by Mahathir. The IMF and the world bank were against the policy then!. They asked for Malaysia to allow free Market to determine the currency and for it to borrow ceaselessly from foreign market. It turned out that, Malaysia weathered the storm while the others, Thailand, Indonesia, etc that listened to IMF and world Bank, suffered more. Many of the South East Asian countries now has Mahathir as economic adviser after leaving office as Malaysian's most successful Prime minister. He is referred to as the father of the Malaysian civilization. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by NavierStokes(m): 11:41am On Jan 29, 2016 |
Hengineer: Mr, the assertion was never a push for oil price stabilization, rather it was a declaration, like the countless others he has made on other issues, to unilaterally stabilize the crude price. Nigeria is not in a position to do that Mr man, not when we have a defacto leader called Saudi Arabia. you think if it was that easy we or venezuela couldn't have done that a long time ago. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by oladre: 11:45am On Jan 29, 2016 |
The idiot op that pasted this just give Nairalanders just what he wanted, a one side to the gist. How can u b so partial? Anyone that is educated and can use what is between his ears to really analyse will read the whole talk on http://www.economist.com/news/middle-east-and-africa/21689584-cheap-oil-causing-currency-crisis-nigeria-banning-imports-no The fact is that Buhari inherited a comatose economy. Cheers |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by NavierStokes(m): 12:15pm On Jan 29, 2016 |
oladre: Mr don't go about throwing insults, did you read properly to understand how the thread came about, an initial thread was opened by someone else giving a biased report to how the broadsheet, referred to Ex president Jonathan as a buffoon, and so I decided to come up with the other half of the article, requesting the Mod to put both threads side by side to enable readers see how within one article people can perceive information differently, moreover the link to the whole article was also pasted. Please I beg you don't go about throwing insults at people, you may never be able to do so, to the same person in real life. I do hope you are having a great day sir. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Laid2001: 12:27pm On Jan 29, 2016 |
When the owner of Innoson himself rides BMW and Range! onatisi: 1 Like |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by onatisi(m): 12:29pm On Jan 29, 2016 |
Laid2001:at least he is not a government official and he has invested heavily in the nation moreover his own BMW doesn't cost 3.6billion naira |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by oladre: 12:44pm On Jan 29, 2016 |
NavierStokes: My sincere apologies, I forgot to delete the offending word. I still think u were partial sha. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by NavierStokes(m): 12:51pm On Jan 29, 2016 |
oladre: Okay bro we are all one, on the frontpage are the different accounts. One from another OP laying emphasis on the "buffoonery" and also this account laying emphasis on the present administration's economic tactics. So i will reiterate that the aim is mainly to show how within one article, readers can have different perceptions. One love dear friend. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Zellie: 4:16pm On Jan 29, 2016 |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by PreyingMantis(m): 5:19pm On Jan 29, 2016 |
Bevista:How much exactly is the budget for agriculture and works? How much is the budget for information? This government is not only confused and clueless, it is also run by very wicked individuals who are hell-bent on destroying the country. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Hengineer: 6:17pm On Jan 29, 2016 |
NavierStokes:oh.. now we are shifting grounds?? It's no longer a matter of the statement being silly, clueless and impossible?? its now a matter of it being too difficult for a country like Nigeria to achieve. I thank God we are now understanding ourselves and defining the issue properly. But you would agree with me that over 95% of the people who still laugh at that statement today do not even have the slightest idea that it is possible for anyone to stabilize oil prices; most people still regard it as a gaffe by a clueless Buhari. Now if I may ask, since you think it was a clueless impossible promise by Buhari, did you also think it was a clueless gaffe when Diezani made the EXACT statement roughly within the same period?? I'm sure you didnt think Diezani was clueless but when Buhari made the EXACT same statement, you jumped on the bandwagon and labelled it a clueless statement?? Kontinuu! |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by NavierStokes(m): 6:26pm On Jan 29, 2016 |
Hengineer: No one is shifting grounds here, from my first response to you, i asserted that the OPEC president could "diplomatically" steer OPEC in that direction, but then its a function of your position in the pyramid, we do not have that clout, to unilaterally make the push for a stabilization in the price, considering that even a total shut down of all our production is not enough to clear the glut. Talk of a drop in a barrel, that's where we are and it was outright silly to have made that statement. I will put a link to an article published today on the wall street journal, read down (Paragraph 9, excerpts given here as well) and confirm where it is clearly stated: http://www.wsj.com/articles/crude-oil-prices-up-but-downside-risks-loom-1454049620 Saudi Arabia hasn't wavered from leading a group of OPEC’s most powerful members to keep producing at full tilt to defend its market share amid competition from Russia, the U.S. and other non-OPEC producers. Before this recent trend, OPEC has traditionally cut output to support prices. Most of the recent comments from within OPEC about an emergency meeting to revive that role have come from members without the power to do it. Everyone but Buhari and of course You, knows he can not unilaterally stabilize the oil price. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Bevista: 6:37pm On Jan 29, 2016 |
PreyingMantis:On Information, most people forget that Culture & Tourism are now part of that Ministry. On Agriculture, government will not necessarily be a direct investor but rather invest in improved seedlings/breed and storage. It's more about policy direction and access to low interest funding. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by tsdarkside(m): 10:02am On Jan 30, 2016 |
NavierStokes: i know what you mean...i know... the problem is,you can not explain this to nigerians....we have a hard time understanding this..... we are in love with our oppressors.... |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Hengineer: 12:27pm On Feb 02, 2016 |
NavierStokes:I'm still yet to know where you heard Buhari saying he will do it UNILATERALLY. ...And once again I ask, if Diezani could make the exact same statement at the exact same period and you did not think it was 'an outright silly' statement from her, isn't it obvious that your prejudice for Buhari is taking the better part of your logic?? You even go as far as claiming he meant 'UNILATERALLY,' biko where and when did Buhari discuss the unilateral part with you?? Please when we criticize, let's do so based on pure, logical and mature facts and let's not allow little prejudices pollute our beautiful arguments. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by NavierStokes(m): 12:35pm On Feb 02, 2016 |
Hengineer: "I" will stabilize the oil price, what part of that statement reflects collectitivity, or did you not see the interview when it occurred? You are the one who is being prejudiced or biased to defend that statement. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Hengineer: 12:55pm On Feb 02, 2016 |
NavierStokes:When a leader says "I will build a house," even a primary school pupil knows what he means, it doesn't mean he would carry the blocks and cement himself so please, don't try to tilt the argument in that direction. By the way, you still haven't responded to why you think Diezani wasn't silly but you think Buhari was silly for making exactly the same statement. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by NavierStokes(m): 1:24pm On Feb 02, 2016 |
Hengineer: I have replied you before and I reply you again. what part of the two statements is confusing: "I will push to stabilize oil price" , "I will stabilize oil price". From a linguistic point of view, they are not the same, and also as a technical person in this field, given all the odds I will comfortably assert again to you that Nigeria can not Unilaterally stabilize the price of Oil, but if you are claiming that Buhari and Nigeria can, then We have to hold President Buhari responsible, for being able to stabilize the Oil Price, yet choosing to look away while the country and rest of the world suffers. I posted a link to you from the Wall street journal that was published that same day we were having this discussion, did you look at it? if you didn't then here it is again I will put a link to an article published today on the wall street journal, read down (Paragraph 9, excerpts given here as well) and confirm where it is clearly stated: http://www.wsj.com/articles/crude-oil-prices-up-but-downside-risks-loom-1454049620 I just hope you realize the emptiness of that assertion ("I will stabilize Oil Price". It is an entirely silly thing for him to have said, no other world leader has said that, not even Saudi Arabian Al Naimy, or Russia's Putin or American Obama has said anything close to that. Have a great day my brother. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Oz4realsss: 2:23pm On Feb 02, 2016 |
Bevista:I disagree with you. The caption of this report is very apt. The last paragraph says it all. It did not merely critize the poor FX administration and Imports Policy, but, went further to emphasize how these are making a bad situation worse through the reduction of import trade and the suffocation our nascent industries. Although the report supported the administration's budget expansion including the envisaged theft blockage and fuel subsidy removal, the report never spoke glowingly about them.. Rather, the report fear of about $15 billion deficit that may result even with the removal of fuel subsidy and the potential debt crisis that our high interest rate may plunge us into. More importantly is the emphasis of the report on the likely hindrance the poor FX administration and Import Policy may have on any potential achievement from the expansionary budget. The fourth paragraph explains this in details. In a nutshell, the report only feels that only the expansionary budget may likely work but the poor policies on currencies may erode any of its potential benefits. And this will make an already bad situation worse. Your inclination that the caption is wrong does not hold water. Infact, the caption of the report is right. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by Oz4realsss: 3:22pm On Feb 02, 2016 |
Bevista:I disagree with you. The caption of this report is very apt. The last paragraph says it all. It did not merely critize the poor FX administration and Imports Policy, but, went further to emphasize how these are making a bad situation worse through the reduction of import trade and the suffocation our nascent industries. Bevista:Although the report supported the administration's budget expansion including the envisaged theft blockage and fuel subsidy removal, the report never spoke glowingly about them.. Rather, the report fear of about $15 billion deficit that may result even with the removal of fuel subsidy and the potential debt crisis that our high interest rate may plunge us into. It further emphasized the likely hindrance the poor FX administration and Import Policy may have on any potential achievement from the expansionary budget. The fourth paragraph explains this in details. |
Re: "The Economist" Accuses Buhari Of Worsening Nigeria's Economy by jamace(m): 2:56pm On Feb 04, 2016 |
Yam eaters budget! |
(1) (2) (3) (4) (5) (6) (Reply)
Lagos Police Vows To Stop Tuface’s Planned Protest / President Buhari Arrives Daura For Eid-el-Kabir Celebration (Photos) / Next President Must Be From South - Southern Governors Agree
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 94 |