judondasylva:
those of you that are ranting here should shut up.
after all when the south east refused to vote him
many of you called us all sorts of names that we
always miscalculate political decisions. now who
was right? those that voted him as President or
those refused to vote him as President? I want
you guys to react to my comment. who is wiser?

The wise ones still know what caused this mess we're in. So if you want to rejoice because you voted for a corrupt government to continue that's on you. Oil prices went from $130 to $30 and you guys actually expect everything to be as it was, does that make sense to you? If you go from making N100k/mo to N30k/mo tell me everything will be the same in your household. What some of you think Jonathan would have done differently is a mystery to me, a government that's used to settling themselves before the populace. A government that was already borrowing money to pay salaries at $60/barrel. We'll have had to share $30/barrel with thieving politicians and the rest of us. I keep thanking God for a change of government if not for anything else at least for accountability. Again keep in my mind that even this N350B is meant to offset some of the debt inherited from the past administration to encourage contractors go back to site. I'm sure fact like that is irrelevant to you because that's playing the blame game according to you guys.

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

Wailing Jonathanians...

Okay if Buhari resigns as you wish, what next?

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”

R u saying FG will give out free money? Or u just don't understand what u are saying? Is FG now father xmas?

obailala:
Wailing Jonathanians...

Okay if Buhari resigns as you wish, what next?

So they will ask Uncle Jonathan to come back and destroy the country more. Bunch of corrupt fans.

dklex:


So they will ask Uncle Jonathan to come back and destroy the country more. Bunch of corrupt fans.

Lol

These guys never give up, they never let go. The keep weeping and wailing by the graveside expecting the presidency of their hero to resurrect. It's been almost a year now but they still hoping.

freeze001:
Will this piecemeal release of what appears 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.

Some contractors have been owed by FG since 2012 accumulating bad debt in bank loans. You are here speaking english..

They are being paid for work done and to resume work at site.

Nigeria and Nigerians are in for a long thing and there is no hope insight for the country to develop.
God..who cursed all leaders that emerge in leadership position in this country?. They want to stimulate the economy with such amount
of money as if the trillions they budgeted for this year is flying and moving to the mars and not left in this country?. When will they declare emergency in power sector, so that Nigerians can have stable light and eke their living without disruption?. Give us light and we will create jobs and wealth and stimulate the economy. This is another opportunity to loot money and for those who sponsored Bubu to recover their investments as they failed in their bid to smuggle it into the budget...Omg..

judondasylva:
those of you that are ranting here should shut up.
after all when the south east refused to vote him
many of you called us all sorts of names that we
always miscalculate political decisions. now who
was right? those that voted him as President or
those refused to vote him as President? I want
you guys to react to my comment. who is wiser?

The people who voted out the lootocratic government are definitely wiser. Oil prices were at over $100, your lootocratic heroes were busy doing what they knew how to do best, sharing our collective patrimony, byuing private jets like pure water and not bothering about saving a dime. GEJ met $47bn in reserves (in addition to over $20bn in the ECA account), but despite unprecedented earnings (the highest ever), he left about $28.6bn in the reserves (yet some zombies still argue that this was an achievement).

Even just before GEJ left power, when oil prices began to crash, the CBN forex reserve was crashed by $10bn in just 7 months (Oct 2014 - May 2015), the FG even borrowed to pay salaries early 2015 cos they had already shared the entire liquid cash in the treasury; and all these happened when oil was still selling above $60.

If there is ever anything Nigeria and Nigerians have ever done right, it was the removal of GEJ from power just before oil prices eventually crashed to $30 (it was really an urgent requirement for our survival). I cant imagine what would have become if GEJ was still in power when oil prices fell to $27-$30; Nigerians would have been queuing up and begging for food by now.

greenpasture:

A large proportion of those bailout funds went to bank debts, the rest to the inefficient, over bloated " my friends and relations" civil service.

Your arguments are familiar to me. The basic error behind them is a misunderstanding of where wealth is located within the pyramid and which segment is needed to Kickstart sustainable growth. I can tell tell for sure it's people way down the pyramid, which I understand can be a tad upsetting to the educated, Internet savvy blue blood capitalist. But that's the way this game will play out. Best to adjust to that. Talk again in 18 months. I am off to inspect some cattle.

That's what you guys always say.

You said when Buhari takes over that things would be different, he took over, nothing. You said 'wait till he select his cabinet', he selected his cabinet, nothing still. You again said oh it's the budget, the budget is here - the N350b is in anticipation of the budget.

Now it's in 18 months time ehn?

What you guys do is relying on best case scenarios in your assumptions. Did you bother to check the outlook of the world economy in 3-6 months' time before jumping to 18 months? Do you know what the world would be facing in the next 3 months that would render this 'solution' very worthless?

Contractors have financial obligations to the banks, do you assume the banks would just sit back and allow contractors accounts to be credited by government and just give them everything? That would be extreme foolishness. Again, assuming the banks are able to restructure the facilities, these same contractors would need foreign exchange to re-equip their operations, or have we started producing construction equipment/machinery and their parts locally now?

By the same token, many of these construction workers are expatriates, who will naturally remit their salaries to their families in their home countries. Or do you want to stop them from doing that?

The worst of all is that rain has started. There's little anyone can achieve during the rainy season, most especially on road construction. If you bully them to go against nature with their limited technology you end up getting shoddy jobs from them.

Stop deceiving yourself, there's no wealth that can be created with salary. This money, we are told is to pay salary of contractors' workers and recall some that are already laid off. Some of these stuffs you guys say are not sensible, N350b paid to construction companies at this time cannot create any wealth for anyone. These workers are already down in arrears of house rents. Some borrowed money to pay their children's school fees. Some took loans for sundry household wares, while some have piles of bills including health related issues waiting for the 'bail-out'.

You do not have to wait for a single day in an economy. The stupid delays in the last 10 months have caused us serious problems that they can't handle.

When these contractors were shouting all through last year, urging governments to pay them for jobs completed, you guys didn't see any connections with the economy which we laboured to educate you on then. When they started laying off their staff as a consequence of the non-payment, what was your reaction? A certain government official even resorted to 'begging' them not to lay-off staff. You guys go from one ridiculous level to another.

Actions should be taken on continuous daily basis not on an intermittent sluggish manner like this bail-out.

Plus, you mentioned my bias for the markets. Yes, any analysis or solution outside the markets is foolish. Yes, the markets - the financial markets, institutions, oil market, currency market, Oyingbo market, labour market etc are part of the barometers to measure a nation's economic health. That's how modern economy works. It's not based on wishful thinking.

obailala:
The people who voted out the lootocratic government are definitely wiser. Oil prices were at over $100, your lootocratic heroes were busy doing what they knew how to do best, sharing our collective patrimony, byuing private jets like pure water and not bothering about saving a dime. GEJ met $47bn in reserves (in addition to over $20bn in the ECA account), but despite unprecedented earnings (the highest ever), he left about $28.6bn in the reserves (yet some zombies still argue that this was an achievement).

Even just before GEJ left power, when oil prices began to crash, the CBN forex reserve was crashed by $10bn in just 7 months (Oct 2014 - May 2015), the FG even borrowed to pay salaries early 2015 cos they had already shared the entire liquid cash in the treasury; and all these happened when oil was still selling above $60.

If there is ever anything Nigeria and Nigerians have ever done right, it was the removal of GEJ from power just before oil prices eventually crashed to $30 (it was really an urgent requirement for our survival). I cant imagine what would have become if GEJ was still in power when oil prices fell to $27-$30; Nigerians would have been queuing up and begging for food by now.

Are Nigerians not queuing up for food now? From Winners Chapel distributing food to hapless Nigerians in Osun State since last year to Daystar Christian Center distribution of food to Nigerians in Oregun this past week.

Where did you go?

And these are the reported cases.

porka:


Are Nigerians not queuing up for food now? From Winners Chapel distributing food to hapless Nigerians in Osun State since last year to Daystar Christian Center distribution of food to Nigerians in Oregun this past week.

Where did you go?

And these are the reported cases.

No my friend! Nigerians are not queuing up for food now. If Nigerians are queuing up for food, we wouldn't even be here typing this.

We are luking 4ward 2 this, may it b achievable................

yaki84:




is this money captured in d budget?
if they like inject 3trillion or more but they shud always do d right thing first.

when they don't act,you complained.Now they are trying to do something,same complain.Na wa oooo.The 350b is part of the budget.

disloman:
when they don't act,you complained.Now they are trying to do something,same complain.Na wa oooo.The 350b is part of the budget.

acting with IMPUNITY?
if I may ask is it buhari's personal money he is injecting into the system?

Alwaystruth:
Nigeria and Nigerians are in for a long thing and there is no hope insight for the country to develop.
God..who cursed all leaders that emerge in leadership position in this country?. They want to stimulate the economy with such amount
of money as if the trillions they budgeted for this year is flying and moving to the mars and not left in this country?. When will they declare emergency in power sector, so that Nigerians can have stable light and eke their living without disruption?. Give us light and we will create jobs and wealth and stimulate the economy. This is another opportunity to loot money and for those who sponsored Bubu to recover their investments as they failed in their bid to smuggle it into the budget...Omg..

Pls change your username from alwaystruth to alwayslies, the fact that you hate the FG does not mean you should peddle lies nah

400billionman:


Some contractors have been owed by FG since 2012 accumulating bad debt in bank loans. You are here speaking english..

They are being paid for work done and to resume work at site.

Which is why I said if they were owing contractors then they should pay them and not make it contingent on how many people they will re-engage. When they get their money, they know how many they can hire. Government does not need to make it a condition for payment of debts.

I did write in clear English but obviously, u have profound comprehension issues.

obailala:
The people who voted out the lootocratic government are definitely wiser. Oil prices were at over $100, your lootocratic heroes were busy doing what they knew how to do best, sharing our collective patrimony, byuing private jets like pure water and not bothering about saving a dime. GEJ met $47bn in reserves (in addition to over $20bn in the ECA account), but despite unprecedented earnings (the highest ever), he left about $28.6bn in the reserves (yet some zombies still argue that this was an achievement).

Even just before GEJ left power, when oil prices began to crash, the CBN forex reserve was crashed by $10bn in just 7 months (Oct 2014 - May 2015), the FG even borrowed to pay salaries early 2015 cos they had already shared the entire liquid cash in the treasury; and all these happened when oil was still selling above $60.

If there is ever anything Nigeria and Nigerians have ever done right, it was the removal of GEJ from power just before oil prices eventually crashed to $30 (it was really an urgent requirement for our survival). I cant imagine what would have become if GEJ was still in power when oil prices fell to $27-$30; Nigerians would have been queuing up and begging for food by now.

All these your blame game is that why the new government came to power to blame the past government or to correct those wrongs? when america faced the greatest economic depression in the history the country did Delano resoovelt used the first year to blamed harbat huvar or that he kicked start with the new deal? that's how a reasonable leader works not blame.

judondasylva:
All these your blame game is that why the new government came to power to blame the past government or to correct those wrongs? when america faced the greatest economic depression in the history the country did Delano resoovelt used the first year to blamed harbat huvar or that he kicked start with the new deal? that's how a reasonable leader works not blame.

What do you understand by the term 'blame game'?.... I was responding to a person who asked if it was wise to have voted out the last administration. I simply responded in the affirmative and gave clear-cut reason. That is in no way a blame game, go back and read to understand.

mrmetoo1:


The wise ones still know what caused this mess we're in. So if you want to rejoice because you voted for a corrupt government to continue that's on you. Oil prices went from $130 to $30 and you guys actually expect everything to be as it was, does that make sense to you? If you go from making N100k/mo to N30k/mo tell me everything will be the same in your household. What some of you think Jonathan would have done differently is a mystery to me, a government that's used to settling themselves before the populace. A government that was already borrowing money to pay salaries at $60/barrel. We'll have had to share $30/barrel with thieving politicians and the rest of us. I keep thanking God for a change of government if not for anything else at least for accountability. Again keep in my mind that even this N350B is meant to offset some of the debt inherited from the past administration to encourage contractors go back to site. I'm sure fact like that is irrelevant to you because that's playing the blame game according to you guys.

just read what Roosevelt did as soon as he entered office not blame. Roosevelt took immediate action to address
the country’s economic woes, first announcing
a four-day “bank holiday” during which all
banks would close so that Congress could pass
reform legislation and reopen those banks
determined to be sound. He also began
addressing the public directly over the radio in
a series of talks, and these so-called “fireside
chats” went a long way towards restoring
public confidence. During Roosevelt’s first 100
days in office, his administration passed
legislation that aimed to stabilize industrial and
agricultural production, create jobs and
stimulate recovery. In addition, Roosevelt
sought to reform the financial system, creating
the Federal Deposit Insurance Corporation
(FDIC) to protect depositors’ accounts and the
Securities and Exchange Commission (SEC) to
regulate the stock market and prevent abuses
of the kind that led to the 1929 crash.

judondasylva:
just read what Roosevelt did as soon as he entered office not blame. Roosevelt took immediate action to address
the country’s economic woes, first announcing
a four-day “bank holiday” during which all
banks would close so that Congress could pass
reform legislation and reopen those banks
determined to be sound. He also began
addressing the public directly over the radio in
a series of talks, and these so-called “fireside
chats” went a long way towards restoring
public confidence. During Roosevelt’s first 100
days in office, his administration passed
legislation that aimed to stabilize industrial and
agricultural production, create jobs and
stimulate recovery. In addition, Roosevelt
sought to reform the financial system, creating
the Federal Deposit Insurance Corporation
(FDIC) to protect depositors’ accounts and the
Securities and Exchange Commission (SEC) to
regulate the stock market and prevent abuses
of the kind that led to the 1929 crash.

I like that you're talking about Roosevelt. You just said a lot without saying much. Please how long with all these programs did it take the mighty United States of America to get out that depression?? Please answer that question. For the whole of Roosevelt's first term he was introducing reforms to fight the depression. A clueless person will come and think the economic crisis then was over in 100 days.

If you list all that I can as well say Buhari has reduced ministries from 42 to 24 therefore reducing costs, he implemented TSA to consolidate our earnings and for proper monitoring to reduce corruption. He's fighting corruption which is one of the major reasons we've found ourselves where we are. He's defeating insurgents in the north opening areas to commercial activities that have been otherwise dead in the past few years. When he came in states couldn't pay salaries, the bailed those states out. Oil marketers were being owed from years before, they were paid. They're working on restructuring the messy NNPC.

Let's not sit here and act like PMB isn't doing anything. If some of you guys lived during the Roosevelt years with this attitude you'll have crucified him since before he had the chance to succeed. What we're going through isn't child's play, it won't take 10 months to fix, it won't take a year, it probably won't take 4 years. The most we can pray for is efficiency and for work to diversify to have started in earnest so that we reap the fruits as soon as humanly possible.

mrmetoo1:


I like that you're talking about Roosevelt. You just said a lot without saying much. Please how long with all these programs did it take the mighty United States of America to get out that depression?? Please answer that question. For the whole of Roosevelt's first term he was introducing reforms to fight the depression. A clueless person will come and think the economic crisis then was over in 100 days.

If you list all that I can as well say Buhari has reduced ministries from 42 to 24 therefore reducing costs, he implemented TSA to consolidate our earnings and for proper monitoring to reduce corruption. He's fighting corruption which is one of the major reasons we've found ourselves where we are. He's defeating insurgents in the north opening areas to commercial activities that have been otherwise dead in the past few years. When he came in states couldn't pay salaries, the bailed those states out. Oil marketers were being owed from years before, they were paid. They're working on restructuring the messy NNPC.

Let's not sit here and act like PMB isn't doing anything. If some of you guys lived during the Roosevelt years with this attitude you'll have crucified him since before he had the chance to succeed. What we're going through isn't child's play, it won't take 10 months to fix, it won't take a year, it probably won't take 4 years. The most we can pray for is efficiency and for work to diversify to have started in earnest so that we reap the fruits as soon as humanly possible.

thanks for your response but one question I want to ask you is why did it take him 6months to get ministers? and why the delay in the presentation and passing of the budget don't you thinks its because of his slowness of making decision and excessive traveling? there are many questions I would have love to ask you but I don't think you will answer them.