₦airaland Forum

ShowYourCertificate:
What you wrote in the bolded is a big lie that you manufactured from space. The government didn't say they were paying contractors that were owed. Rather they were paying "contractors who have laid off staff" in the past. Those contractors will need to tell the government "how many Nigerians they are going to PUT BACK to work as a result of this money”

ShowYourCertificate:
This is a poor decision. Adeosun is certainly not capable of improving our economy. She'll end up destroying it. How can you just dole out cash to contractors simply because they sacked their workers? So you think that cash will make the contractors bring back those that were sacked on a permanent basis? Don't you think the company will still sack those workers when the money given to them expires?

The wise question should have been, "why did those contractors lay off those workers in the first place?" Poor infrastructures such as erratic power supply? Bad roads? Inefficient water supply? Bad government policies such as multiple taxation? Forex policy? Inadequate security? And so on. These are the aspects the government should address with the so called N350bn (that money is too small sef to stimulate an economy such as ours).

The government needs to fix our basic infrastructures, security and implement policies that are favorable to our indigenous firms. In so doing, they'll create millions of jobs for our youths. This is the Lagrange Multiplier effect. Does Adeosun know this? I doubt. Is Buhari knowledgeable on Economics to decipher when Adeosun is derailing? I laugh.

ShowYourCertificate:
This is a poor decision. Adeosun is certainly not capable of improving our economy. She'll end up destroying it. How can you just dole out cash to contractors simply because they sacked their workers? So you think that cash will make the contractors bring back those that were sacked on a permanent basis? Don't you think the company will still sack those workers when the money given to them expires?

The wise question should have been, "why did those contractors lay off those workers in the first place?" Poor infrastructures such as erratic power supply? Bad roads? Inefficient water supply? Bad government policies such as multiple taxation? Forex policy? Inadequate security? And so on. These are the aspects the government should address with the so called N350bn (that money is too small sef to stimulate an economy such as ours).

The government needs to fix our basic infrastructures, security and implement policies that are favorable to our indigenous firms. In so doing, they'll create millions of jobs for our youths. This is the Lagrange Multiplier effect. Does Adeosun know this? I doubt. Is Buhari knowledgeable on Economics to decipher when Adeosun is derailing? I laugh.

udemzyudex:
Like av always said here, without the government spending, the country will be in a mess... They are the biggest spender, releasing #350b into the economy will go a long way in making things a bit easy, that's if all the money will be use in doing what it's meant for...



The government is not spending money, that's why everything is in a stand still, I pray they pass the budget soon..

Wonder why this administration is delaying things, the masses are suffering ooo.

989900:

LOL . . . so the gov't is gifting them money, right?

So, you are not aware many contractors are owed, and many contracts/constructions are presently suspended?

My man, I admire your comprehension skills.

ShowYourCertificate:
Even if that money is used judiciously it will not improve the economy but would rather worsen it on the long run. What they are doing is a cosmetic approach. It will certainly wash off.
.

Otenestbestyaho:
you said it all, clueless and useless finance minister and federal govt.

ShowYourCertificate:
This is a poor decision. Adeosun is certainly not capable of improving our economy. She'll end up destroying it. How can you just dole out cash to contractors simply because they sacked their workers? So you think that cash will make the contractors bring back those that were sacked on a permanent basis? Don't you think the company will still sack those workers when the money given to them expires?

The wise question should have been, "why did those contractors lay off those workers in the first place?" Poor infrastructures such as erratic power supply? Bad roads? Inefficient water supply? Bad government policies such as multiple taxation? Forex policy? Inadequate security? And so on. These are the aspects the government should address with the so called N350bn (that money is too small sef to stimulate an economy such as ours).

The government needs to fix our basic infrastructures, security and implement policies that are favorable to our indigenous firms. In so doing, they'll create millions of jobs for our youths. This is the Lagrange Multiplier effect. Does Adeosun know this? I doubt. Is Buhari knowledgeable on Economics to decipher when Adeosun is derailing? I laugh.

greatiyk4u:
Did u comprehend the article?

Emmy4Naija:
This to be sound like paying contractors money owned them by Government so that they can go back to work and re-engage workers.
If you read inbetween lines, the use of the word "re-engage" is a confirmation by Federal Government that many Nigerians have lost their jobs.

It's also disappointing that nothing was said about the passage of the budget, which when passed expectedly should drive MDAs spending. That brings the question; under which legal instruments are they going to release the N350 billion Naira?won't the money be appropriated for? Could it be as a bailout or payment of contractors debt?....looks like the latter.

Nelkoko:
Will 350 billion remedy d damage done? 4 d economy to move to d permanent site buhari shld jejely resign cos dats our only solution

ShowYourCertificate:
This is a poor decision. Adeosun is certainly not capable of improving our economy. She'll end up destroying it. How can you just dole out cash to contractors simply because they sacked their workers? So you think that cash will make the contractors bring back those that were sacked on a permanent basis? Don't you think the company will still sack those workers when the money given to them expires?

The wise question should have been, "why did those contractors lay off those workers in the first place?" Poor infrastructures such as erratic power supply? Bad roads? Inefficient water supply? Bad government policies such as multiple taxation? Forex policy? Inadequate security? And so on. These are the aspects the government should address with the so called N350bn (that money is too small sef to stimulate an economy such as ours).
These are contractors owed by government and because they are owed money, they are not operating again.
Must you critize even when you don't know wht to say.
The government needs to fix our basic infrastructures, security and implement policies that are favorable to our indigenous firms. In so doing, they'll create millions of jobs for our youths. This is the Lagrange Multiplier effect. Does Adeosun know this? I doubt. Is Buhari knowledgeable on Economics to decipher when Adeosun is derailing? I laugh.

freeze001:
Yes I did. Do u have a different take or opinion perhaps?

udemzyudex:
Like av always said here, without the government spending, the country will be in a mess... They are the biggest spender, releasing #350b into the economy will go a long way in making things a bit easy, that's if all the money will be use in doing what it's meant for...


The government is not spending money, that's why everything is in a stand still, I pray they pass the budget soon..


Wonder why this administration is delaying things, the masses are suffering ooo.

ShowYourCertificate:
Can you show me an excerpt in that news where it was stated that the N350bn is for Contractors who were owed? Let me know who's comprehension skills should be admired.

FG to inject N350bn to stimulate economy

The federal government has outlined plans to revive the ailing economy in the next three years.

To stimulate the dwindling economy, the federal government has announced its readiness to inject a total of N350billion in the next few months.

This was contained in a communique reached at the end of a two-day retreat on the economy by the National Economic Council (NEC) at the presidential villa in Abuja.

Finance minister, Kemi Adeosun; her National Planning counterpart, Udoma Udo Udoma; chairman of the Nigerian Governors’ Forum and governor of Zamfara State, Abdul’aziz Yari, and his Anambra State counterpart, Willie Obiano, made these decisions known to State House correspondents at the end of the retreat.

The finance minister stated that part of the money would help offset the debt owed local contractors who had been forced to lay off their workers for lack of funds.

According to her, the state governors were also advised to reduce the number of their political appointees and aides as a way of reducing the cost of governance.

When Minister of Power, Works and Housing, Babatunde Fashola said the Federal Government owes N1.0 trillion to road contractors handling over 200 on-going projects in the country during the 2016 budget defense session the other day, that staggering amount of debt actually should stagger the mind of any Nigerian. But the fact that the projects are on-going and that the original debt was three time that amount, meaning that government has already paid N2.0 trillion or about 66.67 per cent of the real contract amount is some comfort, albeit in need of explanation.

ShowYourCertificate:
This is a poor decision. Adeosun is certainly not capable of improving our economy. She'll end up destroying it. How can you just dole out cash to contractors simply because they sacked their workers? So you think that cash will make the contractors bring back those that were sacked on a permanent basis? Don't you think the company will still sack those workers when the money given to them expires?

The wise question should have been, "why did those contractors lay off those workers in the first place?" Poor infrastructures such as erratic power supply? Bad roads? Inefficient water supply? Bad government policies such as multiple taxation? Forex policy? Inadequate security? And so on. These are the aspects the government should address with the so called N350bn (that money is too small sef to stimulate an economy such as ours).

The government needs to fix our basic infrastructures, security and implement policies that are favorable to our indigenous firms. In so doing, they'll create millions of jobs for our youths. This is the Lagrange Multiplier effect. Does Adeosun know this? I doubt. Is Buhari knowledgeable on Economics to decipher when Adeosun is derailing? I laugh.

freeze001:
In not spending,they create the impression of saving so they can have huge billions to declare as 'saved' compared to the 'wasteful spending' of the previous administration. It doesn'tmatter to them though that they owe people who have done legitimate business.

veraponpo:
I petty the likes of you hating for no reason.

As far as o am concerned, she is the best so far , probably after Chief Awolowo. My reasons are:

She is the first to make 30% allocation for capital projects in the last 25years

In the face of dwindling revenue, she refused to borrow to pay salaries, yet she did not owe any federal worker

She looked inwards to raise more revenue through stamp duty and with an insignificant amount that everybody can afford, yet it has shored up FG's revenue in the meantime.

She quickly pruned down her bills by removing ghost workers running into billions of naira to achieve spending efficiency

She is the first minister of finance that does not bow to pressure to devalue naira and has kept our foreign reserve despite our unfavourable balance of trade due to internation low prices of oil.

She has been applying her knowledge accurately on our needs and not the desire of IMF or World Bank.

She will achieve more.

freeze001:
Will this piecemeal release of what appearsappears to be 'bailout' funds be feasible in the long run? Are they going to continue like this? What is in place or has been resolved to get the economy function optimally without the need for these government interventions?

What is needed is structural rather than cosmetic reform. Asking for guarantee from contractors as regards how many people they will be re-engaged before the release of the funds is laughable.

Should we say the government is now resorting to bribing contractors to engage people? That should be something that flows naturally when necessary infrastructure are in place with a conducive environment for business. If the FG owes contractors then pay them and don't make it contingent on how many people they will re-engage. The emphasis should be on timely delivery of high quality contract projects which will serve members of the public.

telltimes:
http://punchng.com/fg-to-stabilise-economy-with-n350bn/

989900:
My dear, somethings are just not within your 'wheelhouse'.

Every Tom, Dick, and Harry is aware of the debts owed, and the cancellation/suspension of some contracts -- if you don't, then this thread is definitely flat-out beyond your comprehension (lookup the word 'common-knowledge')



http://www.leadership.ng/news/511359/hope-rises-oil-price-hits-41pb



http://allafrica.com/stories/201603210245.html

I'm thinking we should ask you to "showyourcertificate"