Good News! Buhari Breaks 50 Years Economic Record - Politics (2)

Good News! Buhari Breaks 50 Years Economic Record - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Good News! Buhari Breaks 50 Years Economic Record (6343 Views)

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Re: Good News! Buhari Breaks 50 Years Economic Record by Mologi(m): 10:02am On Jul 31, 2016

oyo teachets are suffering...AJUMOBI

Re: Good News! Buhari Breaks 50 Years Economic Record by joes11(m): 10:50am On Jul 31, 2016

Only God can save Nigeria

Re: Good News! Buhari Breaks 50 Years Economic Record by joes11(m): 10:52am On Jul 31, 2016

Only God can save Nigeria

Re: Good News! Buhari Breaks 50 Years Economic Record by oyinkinola: 11:58am On Jul 31, 2016

shadeyinka:
I wonder if we have any so-called economic experts in this country. Our problem is NOT FOREX, its not liquidity, it is not Interest rate or lending rate.

Our problem is simple.
1. We import more than we export.
2. We don't produce the consumables we use. We depend on other nations.

Solve these two problems and Nigeria is made.

...atimes I very anoyed about economists because of their dead theories:
1. We import more than we export.
2. We don't produce the consumables we use. We depend on other nations.
.....why not are we the producer?
also the step taken by this government is working and in the nearest future we will ripe the fruits!
why can't you people appreciate?

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Re: Good News! Buhari Breaks 50 Years Economic Record by mekaboy(m): 12:03pm On Jul 31, 2016

Our problem is ignorance at the top. Lack of understanding of economics

If they top understood economics, there would not have been delay in appointments.

There would not have been delay of devaluation.

What we are suffering from is accumulation of bad decisions.

Re: Good News! Buhari Breaks 50 Years Economic Record by oyinkinola: 12:05pm On Jul 31, 2016

Mologi:
oyo teachets are suffering...AJUMOBI

....oyo teachets need to be suffering as far as oyo state of okeogun tagged with the food basket of nigeria can't produce anything for export to get shelter from economics down.....who is to bame?

Re: Good News! Buhari Breaks 50 Years Economic Record by ashjay001(m): 12:46pm On Jul 31, 2016

shadeyinka:
I wonder if we have any so-called economic experts in this country. Our problem is NOT FOREX, its not liquidity, it is not Interest rate or lending rate.

Our problem is simple.
1. We import more than we export.
2. We don't produce the consumables we use. We depend on other nations.

Solve these two problems and Nigeria is made.

Unfortunately, we need forex to buy inputs(farm machinery, manufacturing equipments) to improve exports. We need forex to import equipments to produce consumables. We need forex to pay pple with technical-know-how to come from their countries and impart knowledge.

PMB realised this, that's why he succumbed to devaluing d Naira.

Re: Good News! Buhari Breaks 50 Years Economic Record by amuokuko: 2:29pm On Jul 31, 2016

Everfrank:
The slayer of corruption!

Sureu meant Cele-ewa of Corruption...

Re: Good News! Buhari Breaks 50 Years Economic Record by amuokuko: 2:29pm On Jul 31, 2016

Everfrank:
The slayer of corruption!

Sure meant Cele-ewa of Corruption...

Re: Good News! Buhari Breaks 50 Years Economic Record by shadeyinka(m): 4:59pm On Jul 31, 2016

Aristo3146:
And what did you think is the essence of attracting foreign investors?? is its not for the economy to be self sufficient foreign investors(especially in the real sector) burst a countries GDP, reduce undue pressure on forex, Creates employment opportunities and increase government revenue from taxes.

The solution to the so called our problem you mention above is foreign Investment...Take some time to read economic books and listen to analyst before commenting on sensitive topics like this...

Foreign Investors! LOL

Its one of those fallacies we have come to believe. Foreign investors put pressure on Forex, why? They normally take the profit back to their own counties in Dollars.

What has been the direct benefit to Nigerians in terms of Forex to Nigeria from companies like MTN, Mobil, Chevron etc.

They may provide services but they go away with your money? Almost all the profit of MTN goes to the mother company in South Africa.

Don't get me wrong, foreign investment is not entirely evil. It works best in an economy who is building infrastructures. In the case of Nigeria, we are broke!

Re: Good News! Buhari Breaks 50 Years Economic Record by shadeyinka(m): 5:08pm On Jul 31, 2016

ashjay001:
Unfortunately, we need forex to buy inputs(farm machinery, manufacturing equipments) to improve exports. We need forex to import equipments to produce consumables. We need forex to pay pple with technical-know-how to come from their countries and impart knowledge.

PMB realised this, that's why he succumbed to devaluing d Naira.

Technological development is never Transferred. It is either home grown(developed), bought, stolen or cloned. Nigeria should begin to task the brains of Nigerians for home grown technological solutions like China.

PMB did not have a choice about devaluing the Naira. He was against it, but he had to succumb when his economic advisers advised that it was the best solution. With hind sight, is it the best solution?

Of course, not devaluing the Naira would have resulted in the same problem. Our economists don't seem to have a solution.

Re: Good News! Buhari Breaks 50 Years Economic Record by ashjay001(m): 5:22pm On Jul 31, 2016

shadeyinka:
Technological development is never Transferred. It is either home grown(developed), bought, stolen or cloned. Nigeria should begin to task the brains of Nigerians for home grown technological solutions like China.

PMB did not have a choice about devaluing the Naira. He was against it, but he had to succumb when his economic advisers advised that it was the best solution. With hind sight, is it the best solution?

Of course, not devaluing the Naira would have resulted in the same problem. Our economists don't seem to have a solution.

Economics is mostly a theoretical practice. What works in d classrooms generally are ineffective in practice! Socialism, communism, capitalism etc

With d number of policy somersaults by d CBN, even PMB had to confess to trail n error. Hopefully, something will work, something needs to work!

Re: Good News! Buhari Breaks 50 Years Economic Record by ChikezieU(m): 5:46pm On Jul 31, 2016

unicorn meat for zombies they will keep on PLANNING till we all die of hunger

Re: Good News! Buhari Breaks 50 Years Economic Record by shadeyinka(m): 6:14pm On Jul 31, 2016

ashjay001:
Economics is mostly a theoretical practice. What works in d classrooms generally are ineffective in practice! Socialism, communism, capitalism etc

With d number of policy somersaults by d CBN, even PMB had to confess to trail n error. Hopefully, something will work, something needs to work!

You are correct. I call them "Paper Economists". Theories that do not work is what we still use even till today. God help us

Re: Good News! Buhari Breaks 50 Years Economic Record by Ayoola171(m): 7:38pm On Jul 31, 2016

shadeyinka:
I wonder if we have any so-called economic experts in this country. Our problem is NOT FOREX, its not liquidity, it is not Interest rate or lending rate.

Our problem is simple.
1. We import more than we export.
2. We don't produce the consumables we use. We depend on other nations.

Solve these two problems and Nigeria is made. God bless you, truly you're the real Son of your Papa. These what I've being telling people, "If only my arguments are right, it's my fellow Economist and not the crowd I must first convince "

Re: Good News! Buhari Breaks 50 Years Economic Record by revolt(m): 10:16pm On Jul 31, 2016

Aristo3146:
And what did you think is the essence of attracting foreign investors?? is its not for the economy to be self sufficient foreign investors(especially in the real sector) burst a countries GDP, reduce undue pressure on forex, Creates employment opportunities and increase government revenue from taxes.

The solution to the so called our problem you mention above is foreign Investment...Take some time to read economic books and listen to analyst before commenting on sensitive topics like this...

how does increment in cbn interest rates help fdi inflow?

How can u have fdi inflow when ur govt is shying away from fully deregulating ie the govt still wants to control the sectors and play major roles in them, look at subsidy removal as case study, one would think buharis removal of the subsidy was to issue licences to any qualified persons to establish private refineries but NO, he plans to fix our refineries then sell them, his argument being that they would be sold as scrap now if bidded. So hes tryn to make refineries(civil service) work,ofcos we know fed xter and quota sysrem employed refinery workers will nvr be able to make it work. Buhari is scared of private sector taking over and you know why? Cos his northern youths will not be able to compete wth their southern counterparts. Useless almajiris

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