₦airaland Forum

maestroferddi:
Are you for real?

COGENT REASONS

1. The finance minister lacks the leadership presence to superintendent the economic ship of the nation. The looks ill-prepared for the onerous task of charting a clear-cut economic direction for the country.

2. The economic flip-flops or sheer directionlessness of this administration shows that Nigeria has, at best, a nominal/figurehead finance minister who is afraid to affirm her convictions even if they cost her the job. Put in another way, the finance minister is merely a passenger in Buhari's cabinet who appears hardly perturbed that she is not adding any value.

3. The finance minister is increasingly looking clueless with the spate of scandals and blunders that have come to characterise Buhari's administration economically speaking. Where was the minister amidst the horrendous budget melodrama? Which policy enactment can the minister point at after being in office for over four months?

4. What exactly has the minister done as the economic helmsperson of the nation to stem the zero gravitational free-fall of the naira? What is our defence against the onslaughts of the green backs? Is the CBN increasing the money supply of hard currencies so as to manage their demand? Or is the government stimulating manufacturing and exportation so as to attract foreign currencies? What is exactly is the policy thrust or position of this government.

5. To what extent has the minister been able to mine other people's intellect? Which egg-heads are in her economic team/retinue? Which connection can she boast of to enable Nigeria get out of the woods? What was she able to salvage from the visit of eminent persons to Nigeria like that of IMF boss Christine Lagard other than looking like a hapless and diffident PA?

Do you need more?

muzzol:
They are incompetent in your opinion...but miles better than 1) Labaran Maku who claimed GEJ brought Facebook to Nigeria and claimed Book Haram was politically targeted at GEJ 2) NOI who announced austerity measures and economic depression barely 45 days of crash in oil price after managing 5 years of unprecedented oil boom 3) Who was even the Defence Minister under GEJ who supervised Nigeria losing over 20 LGs to terrorists. I think the most active Minister under GEJ was Pastor Ayo ( unofficial Minister for religious affairs).

IyaIode:
Kemi Adeosun is a fantastic minister, she will do wonders. Her had work has made Ogun the number one industrial hub.

Btw Fashola is to Buhari what Ngozi was to Jonathan's administration. Adeosun won't be all over the place.

Ecoterrorism:
No policy direction from them before the budget is passed

2rutalk1:
. It is so glaring that you are not in touch with the realities on ground or maybe you lack understanding of the workings of a nation's economy. It is equally obvious that you know little or nothing about economics. If I may take you back to elementary Economics; We have fiscal policy and monetary policy. The Central Bank of Nigeria is in charge of monetary Policies (money supply), while the government - Finance Ministry is in charge of Fiscal policies (e.g taxation and government expenditure). Like I mentioned earlier, what we are suffering today is liquidity freeze, which can be ameliorated through reduction in taxes and increase in government expenditure. This is the responsibility of the government - Finance Ministry. Before you blame Emefiele, just understand that should CBN pump in money into the economy without corresponding increase in output, there will be stagflation. Even the dollar problem is as a result of low productivity leAding to low/no export of goods and services. infact, I have no time to waste for you. Go back to school before you start defending your Madam.

Orikinla:
Even heaven knows many of the Ministers appointed by President Muhammadu Buhari are incompetent.
Their appointments were not based on merit, but on being the loudest loyalists of the new ruling party, All Progressives Congress (APC).

Majority of them are either incompetent or overwhelmed by the great responsibilities of their big portfolios.
The most apparent are the Minister of Finance, Minister of Education, Minister of Information and Culture, Minister of Defence and Minister of Foreign Affairs who has an impressive resume, but does not even know how to assist the President on the best foreign policy for Nigeria.

The worst is the Minister of Finance who should be sacked or should be given a superior adviser like the best Minister of Finance Nigeria has had since independence, Dr. Kalu Idika Kalu whose proven expertise in finance and decades of experience in private practice and public service will be of great benefit to the current Minister of Finance.

maestroferddi:
Are you for real?

COGENT REASONS

1. The finance minister lacks the leadership presence to superintendent the economic ship of the nation. She appears ill-prepared for the onerous task of charting a clear-cut economic direction for the country.

2. The economic flip-flops or sheer directionlessness of this administration shows that Nigeria has, at best, a nominal/figurehead finance minister who is afraid to affirm her convictions even if they end up costing her the job. Put in another way, the finance minister is merely a passenger in Buhari's cabinet who appears hardly perturbed that she is not adding any scintilla of value.

3. The finance minister is increasingly looking clueless with the spate of scandals and blunders that have come to characterise Buhari's administration, economically speaking. Where was the minister amidst the horrendous budget melodrama? Which policy enactment can the minister point at after being in office for over four months?

4. What exactly has the minister done as the economic helmsperson of the nation to stem the zero gravitational free-fall of the naira? What is our defence against the onslaughts of the green backs? Is the CBN increasing the money supply of hard currencies so as to manage their demand? Or is the government stimulating manufacturing and exportation so as to attract foreign currencies and diminish their demand? What exactly is the policy thrust or position/direction of this government?

5. To what extent has the minister been able to mine other people's intellect? Which egg-heads are in her economic team/retinue? Which connection can she boast of to enable Nigeria get out of the woods? What was she able to salvage from the visit of eminent persons to Nigeria like that of IMF boss Christine Lagarde other than looking like a hapless and diffident PA?

Do you need more?

2rutalk1:
It is so disheartening that a sensitive Ministry like Finance should be mortgaged on the alter of ethnicity/tribalism. Even a first year Economics Student knows quite well that the Madam cannot handle that Ministry considering the economic debacle we are facing today. If not for tribalism, somebody like Charles Soludo who understands the rudiments of expansionary fiscal policies should have been appointed by Buhari to resuscitate this comatous economy, which is dieing of liquidity freeze. Just like John Maynard Keyness, Soludo is one Nigerian Economist alive who can save this country in this period of recession. There is a unique medicine for every ailment.

muzzol:
They are incompetent in your opinion...but miles better than 1) Labaran Maku who claimed GEJ brought Facebook to Nigeria and claimed Book Haram was politically targeted at GEJ 2) NOI who announced austerity measures and economic depression barely 45 days of crash in oil price after managing 5 years of unprecedented oil boom 3) Who was even the Defence Minister under GEJ who supervised Nigeria losing over 20 LGs to terrorists. I think the most active Minister under GEJ was Pastor Ayo ( unofficial Minister for religious affairs).

Wallade:
Let me first ask if you understand the principles of separation of powers, portfolio and departments. I am not holding brief for her but let me address your positions:
1) You said "she appears". Well, looks can be misleading. It is about your intellectual and managerial skills, not looks. Also note that she is not the economic coordinating minister so to what extent can she control her colleagues.

2) The budget should determine the direction of the govt but unfortunately, they messed the presentation up so it is glearing that we have some incompetent hands at the budget and planning ministry. I will excuse the minister because it is the first major assignment which was majorly done by staff of the ministry, given the time they resumed at their various offices, the minister probably had less time to scrutinize their jobs hence the national disgrace and embarrassment we have today.

3). She is Minister of Finance not the minister of budget and planning. I remember that the leader of Bring-back-our-girls initiative complained about the separation of ministry of finance and the budget office (which is now with the ministry of budget and planning). I guess she is right after all. Don't outrightly blame her for poor job that is not majorly her responsibility.

4). Instead of you to query the CBN management or governor for that aspect of the monetary policy, if you are confused, you would rather query the finance minister. For now, I have little or no issue with the government policy with respect to the FOREX. I only have issues with restrictions on FOREX purchase for foreign schooling and medical treatments.
We can only manage the onslaught of the greenback, it was inevitable. Naira must fall as a result of the greenback onslaught.FOREX reserve is majorly going down because of the crashing crude oil price and that automatically limits availability of FOREX to the CBN. You may not understand the lots of challenges the CBN and ministry of finance are engaging.

5 . Don't be too quick to judge her on that aspect, the federal government has an economic team to which she is a pry member. They are working on the lots of challenges to Nigerian economy, they are developing strategies and planning to elevate the economy. Stop being a doubting Thomas, wait and see.

Thank you for your criticism, it will bring out the best in them.

Best regards.

menix:
No minister should be compared with Minister of Finance, that woman nah confirm Bakery accountant..

Buhari!!!!!! Pls wake up from ur slumber b4 Nigerians start buying Agege bread for 1k...

Orikinla:
Even heaven knows many of the Ministers appointed by President Muhammadu Buhari are incompetent.
Their appointments were not based on merit, but on being the loudest loyalists of the new ruling party, All Progressives Congress (APC).

Majority of them are either incompetent or overwhelmed by the great responsibilities of their big portfolios.
The most apparent are the Minister of Finance, Minister of Education, Minister of Information and Culture, Minister of Defence and Minister of Foreign Affairs who has an impressive resume, but does not even know how to assist the President on the best foreign policy for Nigeria.

The worst is the Minister of Finance who should be sacked or should be given a superior adviser like the best Minister of Finance Nigeria has had since independence, Dr. Kalu Idika Kalu whose proven expertise in finance and decades of experience in private practice and public service will be of great benefit to the current Minister of Finance.

Godsonkemz:
The past administration relied on expertise such as Ngozi Okonjo Iweala, Adesina, Prof Nebo, Onuyebuchi Chukwu among others while the incumbent government relies on incompetent party loyalists some of which have heavy load of money laundering allegations still hanging on their neck.

casto:
Adeosun didn't do much in Ogun state dear. Ogun state is very close to Lagos so Industries n companies are moving to a less congested state. She doesn't even have plans 4 nigerians. If she has let her tell us..., the hardship is too much.

obailala:
Isn't it funny that some think the Finance Minister is incompetent because value of naira is falling? And the person who thinks in this manner thinks he's making any sense?

I will attempt to make a little case for the finance minister. When we had a world renown economist in the person of NOI as our Finance Minister and Minister for National planning, what happened to our economy immediately crude prices started crashing?

All of the above happened right under the nose of a world class economist as the finance minister even at a time when oil was still selling above $65/barrel; today oil sells for about $30/barrel.

Now we have a relatively unknown finance minister managing the economy with oil selling for less than half of what it sold for as at the time a world class economist handed over. The FG has not had to borrow to pay salaries, it bailed out the states and even paid off subsidy arrears owed to oil importers since the days of the world class economist. Furthermore, the FG has been able to maintain virtually the same forex reserve that it inherited till date; remember the world class economist sanctioned the crash of the nation's foreign reserves ~$10billion in 7 months of oil price crash. Only God knows where we would have been by today if that trend continued unabated.

And here we are, about to crucify the new finance minister for being incompetent, obviously because her name is not being mentioned here and there on CNN. I personally do not know who Kemi Adeosun is, I don't know her pedigree, but I think it is misplaced and outright silly to judge her capabilities at this time.

The naira may drop to N1000 to $1 tomorrow in the black-black market, but the fact remains that that amount doesn't really represent the true value of the Naira. The super-high black market value today is due to a deliberate hoarding of forex by the FG/CBN in order to deprive/discourage Nigerians from their thirst for foreign goods and foreign leisure trips; the actual value of the Naira at the moment should be in the range of N260-N280.

obailala:
Isn't it funny that some think the Finance Minister is incompetent because value of naira is falling? And the person who thinks in this manner thinks he's making any sense?

I will attempt to make a little case for the finance minister. When we had a world renown economist in the person of NOI as our Finance Minister and Minister for National planning, what happened to our economy immediately crude prices started crashing?

All of the above happened right under the nose of a world class economist as the finance minister even at a time when oil was still selling above $65/barrel; today oil sells for about $30/barrel.

Now we have a relatively unknown finance minister managing the economy with oil selling for less than half of what it sold for as at the time a world class economist handed over. The FG has not had to borrow to pay salaries, it bailed out the states and even paid off subsidy arrears owed to oil importers since the days of the world class economist. Furthermore, the FG has been able to maintain virtually the same forex reserve that it inherited till date; remember the world class economist sanctioned the crash of the nation's foreign reserves ~$10billion in 7 months of oil price crash. Only God knows where we would have been by today if that trend continued unabated.

And here we are, about to crucify the new finance minister for being incompetent, obviously because her name is not being mentioned here and there on CNN. I personally do not know who Kemi Adeosun is, I don't know her pedigree, but I think it is misplaced and outright silly to judge her capabilities at this time.

The naira may drop to N1000 to $1 tomorrow in the black-black market, but the fact remains that that amount doesn't really represent the true value of the Naira. The super-high black market value today is due to a deliberate hoarding of forex by the FG/CBN in order to deprive/discourage Nigerians from their thirst for foreign goods and foreign leisure trips; the actual value of the Naira at the moment should be in the range of N260-N280.

oshiiteoku:
Infact shame don dey catch me small small,all my friends are now laughing at me because i didnt let them rest wt my trust in buhari,i made so much noise that buhari has the magic wand,bubu ,pls dont let them run me out of town wt shame,pls do what u have to do to make nigeria work,pls.infact i am suspecting obama and co because u rejected their perverted laws

obailala:
Isn't it funny that some think the Finance Minister is incompetent because value of naira is falling? And the person who thinks in this manner thinks he's making any sense?

I will attempt to make a little case for the finance minister. When we had a world renown economist in the person of NOI as our Finance Minister and Minister for National planning, what happened to our economy immediately crude prices started crashing?

All of the above happened right under the nose of a world class economist as the finance minister even at a time when oil was still selling above $65/barrel; today oil sells for about $30/barrel.

Now we have a relatively unknown finance minister managing the economy with oil selling for less than half of what it sold for as at the time a world class economist handed over. The FG has not had to borrow to pay salaries, it bailed out the states and even paid off subsidy arrears owed to oil importers since the days of the world class economist. Furthermore, the FG has been able to maintain virtually the same forex reserve that it inherited till date; remember the world class economist sanctioned the crash of the nation's foreign reserves ~$10billion in 7 months of oil price crash. Only God knows where we would have been by today if that trend continued unabated.

And here we are, about to crucify the new finance minister for being incompetent, obviously because her name is not being mentioned here and there on CNN. I personally do not know who Kemi Adeosun is, I don't know her pedigree, but I think it is misplaced and outright silly to judge her capabilities at this time.

The naira may drop to N1000 to $1 tomorrow in the black-black market, but the fact remains that that amount doesn't really represent the true value of the Naira. The super-high black market value today is due to a deliberate hoarding of forex by the FG/CBN in order to deprive/discourage Nigerians from their thirst for foreign goods and foreign leisure trips; the actual value of the Naira at the moment should be in the range of N260-N280.

Orikinla:
Even heaven knows many of the Ministers appointed by President Muhammadu Buhari are incompetent.
Their appointments were not based on merit, but on being the loudest loyalists of the new ruling party, All Progressives Congress (APC).

Majority of them are either incompetent or overwhelmed by the great responsibilities of their big portfolios.
The most apparent are the Minister of Finance, Minister of Education, Minister of Information and Culture, Minister of Defence and Minister of Foreign Affairs who has an impressive resume, but does not even know how to assist the President on the best foreign policy for Nigeria.

The worst is the Minister of Finance who should be sacked or should be given a superior adviser like the best Minister of Finance Nigeria has had since independence, Dr. Kalu Idika Kalu whose proven expertise in finance and decades of experience in private practice and public service will be of great benefit to the current Minister of Finance.

Orikinla:
Even heaven knows many of the Ministers appointed by President Muhammadu Buhari are incompetent.
Their appointments were not based on merit, but on being the loudest loyalists of the new ruling party, All Progressives Congress (APC).

Majority of them are either incompetent or overwhelmed by the great responsibilities of their big portfolios.
The most apparent are the Minister of Finance, Minister of Education, Minister of Information and Culture, Minister of Defence and Minister of Foreign Affairs who has an impressive resume, but does not even know how to assist the President on the best foreign policy for Nigeria.

The worst is the Minister of Finance who should be sacked or should be given a superior adviser like the best Minister of Finance Nigeria has had since independence, Dr. Kalu Idika Kalu whose proven expertise in finance and decades of experience in private practice and public service will be of great benefit to the current Minister of Finance.

obailala:
Isn't it funny that some think the Finance Minister is incompetent because value of naira is falling? And the person who thinks in this manner thinks he's making any sense?

I will attempt to make a little case for the finance minister. When we had a world renown economist in the person of NOI as our Finance Minister and Minister for National planning, what happened to our economy immediately crude prices started crashing?

All of the above happened right under the nose of a world class economist as the finance minister even at a time when oil was still selling above $65/barrel; today oil sells for about $30/barrel.

Now we have a relatively unknown finance minister managing the economy with oil selling for less than half of what it sold for as at the time a world class economist handed over. The FG has not had to borrow to pay salaries, it bailed out the states and even paid off subsidy arrears owed to oil importers since the days of the world class economist. Furthermore, the FG has been able to maintain virtually the same forex reserve that it inherited till date; remember the world class economist sanctioned the crash of the nation's foreign reserves ~$10billion in 7 months of oil price crash. Only God knows where we would have been by today if that trend continued unabated.

And here we are, about to crucify the new finance minister for being incompetent, obviously because her name is not being mentioned here and there on CNN. I personally do not know who Kemi Adeosun is, I don't know her pedigree, but I think it is misplaced and outright silly to judge her capabilities at this time.

The naira may drop to N1000 to $1 tomorrow in the black-black market, but the fact remains that that amount doesn't really represent the true value of the Naira. The super-high black market value today is due to a deliberate hoarding of forex by the FG/CBN in order to deprive/discourage Nigerians from their thirst for foreign goods and foreign leisure trips; the actual value of the Naira at the moment should be in the range of N260-N280.

obailala:
Isn't it funny that some think the Finance Minister is incompetent because value of naira is falling? And the person who thinks in this manner thinks he's making any sense?

I will attempt to make a little case for the finance minister. When we had a world renown economist in the person of NOI as our Finance Minister and Minister for National planning, what happened to our economy immediately crude prices started crashing?

All of the above happened right under the nose of a world class economist as the finance minister even at a time when oil was still selling above $65/barrel; today oil sells for about $30/barrel.

Now we have a relatively unknown finance minister managing the economy with oil selling for less than half of what it sold for as at the time a world class economist handed over. The FG has not had to borrow to pay salaries, it bailed out the states and even paid off subsidy arrears owed to oil importers since the days of the world class economist. Furthermore, the FG has been able to maintain virtually the same forex reserve that it inherited till date; remember the world class economist sanctioned the crash of the nation's foreign reserves ~$10billion in 7 months of oil price crash. Only God knows where we would have been by today if that trend continued unabated.

And here we are, about to crucify the new finance minister for being incompetent, obviously because her name is not being mentioned here and there on CNN. I personally do not know who Kemi Adeosun is, I don't know her pedigree, but I think it is misplaced and outright silly to judge her capabilities at this time.

The naira may drop to N1000 to $1 tomorrow in the black-black market, but the fact remains that that amount doesn't really represent the true value of the Naira. The super-high black market value today is due to a deliberate hoarding of forex by the FG/CBN in order to deprive/discourage Nigerians from their thirst for foreign goods and foreign leisure trips; the actual value of the Naira at the moment should be in the range of N260-N280.

2rutalk1:
. It is so glaring that you are not in touch with the realities on ground or maybe you lack understanding of the workings of a nation's economy. It is equally obvious that you know little or nothing about economics. If I may take you back to elementary Economics; We have fiscal policy and monetary policy. The Central Bank of Nigeria is in charge of monetary Policies (money supply), while the government - Finance Ministry is in charge of Fiscal policies (e.g taxation and government expenditure). Like I mentioned earlier, what we are suffering today is liquidity freeze, which can be ameliorated through reduction in taxes and increase in government expenditure. This is the responsibility of the government - Finance Ministry. Before you blame Emefiele, just understand that should CBN pump in money into the economy without corresponding increase in output, there will be stagflation. Even the dollar problem is as a result of low productivity leAding to low/no export of goods and services. infact, I have no time to waste for you. Go back to school before you start defending your Madam.