₦airaland Forum

Osyabj:
To rescue the economy after 16 years of PDP plundering of over 38 Trillion Naira, shamelessly shut down the refineries in order to import fuel, sabotaged the power sector in order to sell diesel and generators, thereby poluting Nigerians health, awarding contracts and sharing the money without doing the contracts, ...the list in endless.

BlackSeptember:
Why seeking such powers? Giving a tyrant absolute power can be dangerous so i think that bill will fail.



Who is talking about hatred for buhari? Oga I'm protecting my kids from Mobutu sese seko

Osyabj:
To rescue the economy after 16 years of PDP plundering of over 38 Trillion Naira, shamelessly shut down the refineries in order to import fuel, sabotaged the power sector in order to sell diesel and generators, thereby poluting Nigerians health, awarding contracts and sharing the money without doing the contracts, ...the list in endless.

Caseless:
I'm saying you've read the wrong story and, that's why I'm asking you to know if you were there. No account pre-84 has said the economy under shagari was rosy before BUHARI took over . He came on a rescue mission , but was truncated by the architect of our modern day problems, IBB .

Ok if he destroyed the economy in 1984, how come pdp could not revive it in 16 years?

kahal29:
This is the best economic way to go in this present situation we ve found ourselves. ... .. .. SPEND YOUR WAY OUT OF RECESSION cos their is little or nothing monetary policy by extension CBN can do for us now. We need to reverse the trend through fiscal policy stimulus {Keynesian Economics} which involves massive government expenditure and interventions in the critical sectors of the economy so as to stimulate Aggregate Demand and Lubricate the economy. Hence every bureaucratic bottleneck should be removed.

Osyabj:
To rescue the economy after 16 years of PDP plundering of over 38 Trillion Naira, shamelessly shut down the refineries in order to import fuel, sabotaged the power sector in order to sell diesel and generators, thereby poluting Nigerians health, awarding contracts and sharing the money without doing the contracts, ...the list in endless.

SirJeffry:
These guys confusion don pass "I dey come", na "I don reach" e dey now.

How many functional government property do we have that they want to sell the few?

Maybe it's time for Tinubu and co to buy up the country, thanks to his puppet Osinbajo the economic guru of Westin naijiriya.

Pidggin:
And who destroyed the economy in 1984?

Mynd44:
I hate to bring bad news but we have started importing garri.

We export cassava and import garri from neighboring countries. I dont get it too, its like we just hate ourselves

kenny987:
Crazy stuff. It's obvious this government cannot work within civilian and democratic tenets hence this fire brigade approach. The problem with things like this is heady abuse of powers and obfuscation of processes so that private individuals are at a loss as to what the extant provision of the law is.

We watch n observe.

Osyabj:
President to meet Saraki, Dogara

Bill to rescue economy ready

President Muhammadu Buhari will be seeking emergency powers from the National Assembly to push his planned stimulus for the economy.

The objectives of the action-plan on the economy, which is in recession, include shoring up the value of the naira, creation of more jobs, boosting of foreign reserves, reviving the manufacturing sector and improving power.

Government sources said the decision to seek emergency powers for the President was based on a proposal from the economic team headed by Vice President Yemi Osinbajo. The team reviewed the various policies so far introduced and how they have affected the economy.

The economic team, it was learnt, gauged the mood of the polity and decided that unless there is an urgency which some of the extant laws will not permit, “the recession may be longer than expected and Nigerians will not get the desired respite, which is the goal of this government”.

An executive bill titled: “Emergency Economic Stabilisation Bill 2016” is to be presented to the National Assembly when the Senate and the House of Representatives resume from vacation on September 12.

In the bill, the executive will be asking for the President to be given sweeping powers to set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.

Buhari will be seeking powers to:

abridge the procurement process to support stimulus spending on critical sectors of the economy;
make orders to favour local contractors/suppliers in contract awards;
abridge the process of sale or lease of government assets to generate revenue;
allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly.
amend certain laws, such as the Universal Basic Education Commission (UBEC) Act, so that states that cannot
access their cash trapped in the accounts of the commission because they cannot meet the counterpart funding,
can do so; and
to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to
compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods
Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of
business.
The extant law on procurement does not allow contract award earlier than six months after decision. Part of this is a mandatory advertisement of the contract for six weeks. The economic team has found this to be unacceptable, given our present circumstance.

Although the president has the power to order the sale or lease of any government asset to raise cash, “the procedure is cumbersome and long”. The draft bill is meant to ease the process. The government source said about nine government assets may be leased or sold to generate around $50billion to shore up the nation’s foreign reserves and the value of the naira against the United States dollar.

The source said: “Nigeria may be broke at the moment but we are not a poor country, given our assets and capability.” About N58 billion is trapped in UBEC’s coffers because the states cannot access it as a result of the key condition, which is the payment of 50 per cent counterpart funding. The government is seeking an amendment to the law so that states will pay only 10 per cent as counterpart funding.

The objective is that state governments will have access to cash to develop education. This will facilitate creation of jobs since contracts will be awarded for the projects.

As for contract awards, the government, by the provisions of the law, cannot mobilise contractors with more than 15 per cent of contract sum. This is considered to be undesirable by the economic team given the pace the government wants to move in turning the economy around and in the provision of critical infrastructure. The bill will seek to allow the government to mobilise contractors with 50 per cent of contract sum.

The move to get government agencies to fast tract their operations is to enable foreign investors to come into the country without the current bottlenecks. Consular offices will now be expected to make visas available within 48 hours and visitors, especially tourists who intend to pick up visas at the entry point, will be able to do so. Time wasting at the airport with duplication of agencies screening incoming passengers is to be eliminated. Those leaving the country should go without hassle.

For the power sector, the government plans to truck gas from source to the power plants to enable them get what they need for generation. A government source said: “This may be more expensive but it is a price to be paid for Nigerians’ comfort”.

It was learnt that President Buhari will engage the leadership of the National Assembly before their resumption to solicit support for the bill’s quick passage.


http://thenationonlineng.net/buhari-seeks-emergency-powers-tackle-economy/

Osyabj:
To rescue the economy after 16 years of PDP plundering of over 38 Trillion Naira, shamelessly shut down the refineries in order to import fuel, sabotaged the power sector in order to sell diesel and generators, thereby poluting Nigerians health, awarding contracts and sharing the money without doing the contracts, ...the list in endless.

Osyabj:
President to meet Saraki, Dogara

Bill to rescue economy ready

President Muhammadu Buhari will be seeking emergency powers from the National Assembly to push his planned stimulus for the economy.

The objectives of the action-plan on the economy, which is in recession, include shoring up the value of the naira, creation of more jobs, boosting of foreign reserves, reviving the manufacturing sector and improving power.

Government sources said the decision to seek emergency powers for the President was based on a proposal from the economic team headed by Vice President Yemi Osinbajo. The team reviewed the various policies so far introduced and how they have affected the economy.

The economic team, it was learnt, gauged the mood of the polity and decided that unless there is an urgency which some of the extant laws will not permit, “the recession may be longer than expected and Nigerians will not get the desired respite, which is the goal of this government”.

An executive bill titled: “Emergency Economic Stabilisation Bill 2016” is to be presented to the National Assembly when the Senate and the House of Representatives resume from vacation on September 12.

In the bill, the executive will be asking for the President to be given sweeping powers to set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.

Buhari will be seeking powers to:

abridge the procurement process to support stimulus spending on critical sectors of the economy;
make orders to favour local contractors/suppliers in contract awards;
abridge the process of sale or lease of government assets to generate revenue;
allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly.
amend certain laws, such as the Universal Basic Education Commission (UBEC) Act, so that states that cannot
access their cash trapped in the accounts of the commission because they cannot meet the counterpart funding,
can do so; and
to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to
compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods
Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of
business.
The extant law on procurement does not allow contract award earlier than six months after decision. Part of this is a mandatory advertisement of the contract for six weeks. The economic team has found this to be unacceptable, given our present circumstance.

Although the president has the power to order the sale or lease of any government asset to raise cash, “the procedure is cumbersome and long”. The draft bill is meant to ease the process. The government source said about nine government assets may be leased or sold to generate around $50billion to shore up the nation’s foreign reserves and the value of the naira against the United States dollar.

The source said: “Nigeria may be broke at the moment but we are not a poor country, given our assets and capability.” About N58 billion is trapped in UBEC’s coffers because the states cannot access it as a result of the key condition, which is the payment of 50 per cent counterpart funding. The government is seeking an amendment to the law so that states will pay only 10 per cent as counterpart funding.

The objective is that state governments will have access to cash to develop education. This will facilitate creation of jobs since contracts will be awarded for the projects.

As for contract awards, the government, by the provisions of the law, cannot mobilise contractors with more than 15 per cent of contract sum. This is considered to be undesirable by the economic team given the pace the government wants to move in turning the economy around and in the provision of critical infrastructure. The bill will seek to allow the government to mobilise contractors with 50 per cent of contract sum.

The move to get government agencies to fast tract their operations is to enable foreign investors to come into the country without the current bottlenecks. Consular offices will now be expected to make visas available within 48 hours and visitors, especially tourists who intend to pick up visas at the entry point, will be able to do so. Time wasting at the airport with duplication of agencies screening incoming passengers is to be eliminated. Those leaving the country should go without hassle.

For the power sector, the government plans to truck gas from source to the power plants to enable them get what they need for generation. A government source said: “This may be more expensive but it is a price to be paid for Nigerians’ comfort”.

It was learnt that President Buhari will engage the leadership of the National Assembly before their resumption to solicit support for the bill’s quick passage.


http://thenationonlineng.net/buhari-seeks-emergency-powers-tackle-economy/

Mynd44:
I hate to bring bad news but we have started importing garri.

We export cassava and import garri from neighboring countries. I dont get it too, its like we just hate ourselves

thesicilian:
To rescue the economy from who? These guys are just playing ping pong with our economy. Its like a doctor who starts treating a patient with a simple ear infection, mismanages the patient until he starts convulsing due to acute meningitis, then the doctor is now asking the relatives to sign consent for an emergency brain surgery!

Osyabj:
To rescue the economy after 16 years of PDP plundering of over 38 Trillion Naira, shamelessly shut down the refineries in order to import fuel, sabotaged the power sector in order to sell diesel and generators, thereby poluting Nigerians health, awarding contracts and sharing the money without doing the contracts, ...the list in endless.

BALLOSKI:
Baba , take all the power as much as you want- we are behind you . Not only "emergency power", if there's "drastic power", please , take it . We need you to take anything takeable at this point in time as long as it will set the economy on the right footing again.

Standing5:
Right way to go.
We are already programmed to throw our money outside via import. To reverse it and start mass local production overnight will require capital like any new business venture. We should be greatful we have President who could stop borrowing to pay salary at $45pb- of oil and started saving for projects. This is a big leap from the days of borrowing to pay salary at $55pb+ of oil. Buhari has scored 200%+ already.

Osyabj:
To rescue the economy after 16 years of PDP plundering of over 38 Trillion Naira, shamelessly shut down the refineries in order to import fuel, sabotaged the power sector in order to sell diesel and generators, thereby poluting Nigerians health, awarding contracts and sharing the money without doing the contracts, ...the list in endless.

umarwy:
Most of these are feasible and seems reasonable.

but the one i strongly disagree with is trucking gas from source to power plant, because if we start that we cannot stop it again. cabal will hijack transportation of gas and wont want to stop

Osyabj:
President to meet Saraki, Dogara

Bill to rescue economy ready

President Muhammadu Buhari will be seeking emergency powers from the National Assembly to push his planned stimulus for the economy.

The objectives of the action-plan on the economy, which is in recession, include shoring up the value of the naira, creation of more jobs, boosting of foreign reserves, reviving the manufacturing sector and improving power.

Government sources said the decision to seek emergency powers for the President was based on a proposal from the economic team headed by Vice President Yemi Osinbajo. The team reviewed the various policies so far introduced and how they have affected the economy.

The economic team, it was learnt, gauged the mood of the polity and decided that unless there is an urgency which some of the extant laws will not permit, “the recession may be longer than expected and Nigerians will not get the desired respite, which is the goal of this government”.

An executive bill titled: “Emergency Economic Stabilisation Bill 2016” is to be presented to the National Assembly when the Senate and the House of Representatives resume from vacation on September 12.

In the bill, the executive will be asking for the President to be given sweeping powers to set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.

Buhari will be seeking powers to:

abridge the procurement process to support stimulus spending on critical sectors of the economy;
make orders to favour local contractors/suppliers in contract awards;
abridge the process of sale or lease of government assets to generate revenue;
allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly.
amend certain laws, such as the Universal Basic Education Commission (UBEC) Act, so that states that cannot
access their cash trapped in the accounts of the commission because they cannot meet the counterpart funding,
can do so; and
to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to
compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods
Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of
business.
The extant law on procurement does not allow contract award earlier than six months after decision. Part of this is a mandatory advertisement of the contract for six weeks. The economic team has found this to be unacceptable, given our present circumstance.

Although the president has the power to order the sale or lease of any government asset to raise cash, “the procedure is cumbersome and long”. The draft bill is meant to ease the process. The government source said about nine government assets may be leased or sold to generate around $50billion to shore up the nation’s foreign reserves and the value of the naira against the United States dollar.

The source said: “Nigeria may be broke at the moment but we are not a poor country, given our assets and capability.” About N58 billion is trapped in UBEC’s coffers because the states cannot access it as a result of the key condition, which is the payment of 50 per cent counterpart funding. The government is seeking an amendment to the law so that states will pay only 10 per cent as counterpart funding.

The objective is that state governments will have access to cash to develop education. This will facilitate creation of jobs since contracts will be awarded for the projects.

As for contract awards, the government, by the provisions of the law, cannot mobilise contractors with more than 15 per cent of contract sum. This is considered to be undesirable by the economic team given the pace the government wants to move in turning the economy around and in the provision of critical infrastructure. The bill will seek to allow the government to mobilise contractors with 50 per cent of contract sum.

The move to get government agencies to fast tract their operations is to enable foreign investors to come into the country without the current bottlenecks. Consular offices will now be expected to make visas available within 48 hours and visitors, especially tourists who intend to pick up visas at the entry point, will be able to do so. Time wasting at the airport with duplication of agencies screening incoming passengers is to be eliminated. Those leaving the country should go without hassle.

For the power sector, the government plans to truck gas from source to the power plants to enable them get what they need for generation. A government source said: “This may be more expensive but it is a price to be paid for Nigerians’ comfort”.

It was learnt that President Buhari will engage the leadership of the National Assembly before their resumption to solicit support for the bill’s quick passage.


http://thenationonlineng.net/buhari-seeks-emergency-powers-tackle-economy/

Caseless:
Obama took responsibility for his party and blamed republican where necessary. That was because their system allows alternation of power between the party. But here , Pdp ruled for 16 years since inception of our democracy, who should apc blame?

Just as you were not there or born then , I was also not part of the cabinet too. And I don't think it's written anywhere that you must be part of the cabinet to know what the government is doing. Why I had to ask if you were there in 1984 is because other accounts pre-84 contradicts your line of argument. Besides, you made me believe that you argue based on facts . So when I saw your argument devoid of facts , I was forced to hold you back .

The biggest economy in Africa story is a farce and does not fly. What's the unemployment rate at that time? What was happening in education and health sector? What was Nigeria having under that slogan of "biggest economy"? If it was that rosy , why was the last administration kicked out?

Just like pre-84 where shagari asslickers made us believe everything was rosy until the government was toppled and BUHARI took over , so was the situation before he took over from the last administration; we horsewhiped them out.

Osyabj:
President to meet Saraki, Dogara

Bill to rescue economy ready

President Muhammadu Buhari will be seeking emergency powers from the National Assembly to push his planned stimulus for the economy.

The objectives of the action-plan on the economy, which is in recession, include shoring up the value of the naira, creation of more jobs, boosting of foreign reserves, reviving the manufacturing sector and improving power.

Government sources said the decision to seek emergency powers for the President was based on a proposal from the economic team headed by Vice President Yemi Osinbajo. The team reviewed the various policies so far introduced and how they have affected the economy.

The economic team, it was learnt, gauged the mood of the polity and decided that unless there is an urgency which some of the extant laws will not permit, “the recession may be longer than expected and Nigerians will not get the desired respite, which is the goal of this government”.

An executive bill titled: “Emergency Economic Stabilisation Bill 2016” is to be presented to the National Assembly when the Senate and the House of Representatives resume from vacation on September 12.

In the bill, the executive will be asking for the President to be given sweeping powers to set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.

Buhari will be seeking powers to:

abridge the procurement process to support stimulus spending on critical sectors of the economy;
make orders to favour local contractors/suppliers in contract awards;
abridge the process of sale or lease of government assets to generate revenue;
allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly.
amend certain laws, such as the Universal Basic Education Commission (UBEC) Act, so that states that cannot
access their cash trapped in the accounts of the commission because they cannot meet the counterpart funding,
can do so; and
to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to
compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods
Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of
business.
The extant law on procurement does not allow contract award earlier than six months after decision. Part of this is a mandatory advertisement of the contract for six weeks. The economic team has found this to be unacceptable, given our present circumstance.

Although the president has the power to order the sale or lease of any government asset to raise cash, “the procedure is cumbersome and long”. The draft bill is meant to ease the process. The government source said about nine government assets may be leased or sold to generate around $50billion to shore up the nation’s foreign reserves and the value of the naira against the United States dollar.

The source said: “Nigeria may be broke at the moment but we are not a poor country, given our assets and capability.” About N58 billion is trapped in UBEC’s coffers because the states cannot access it as a result of the key condition, which is the payment of 50 per cent counterpart funding. The government is seeking an amendment to the law so that states will pay only 10 per cent as counterpart funding.

The objective is that state governments will have access to cash to develop education. This will facilitate creation of jobs since contracts will be awarded for the projects.

As for contract awards, the government, by the provisions of the law, cannot mobilise contractors with more than 15 per cent of contract sum. This is considered to be undesirable by the economic team given the pace the government wants to move in turning the economy around and in the provision of critical infrastructure. The bill will seek to allow the government to mobilise contractors with 50 per cent of contract sum.

The move to get government agencies to fast tract their operations is to enable foreign investors to come into the country without the current bottlenecks. Consular offices will now be expected to make visas available within 48 hours and visitors, especially tourists who intend to pick up visas at the entry point, will be able to do so. Time wasting at the airport with duplication of agencies screening incoming passengers is to be eliminated. Those leaving the country should go without hassle.

For the power sector, the government plans to truck gas from source to the power plants to enable them get what they need for generation. A government source said: “This may be more expensive but it is a price to be paid for Nigerians’ comfort”.

It was learnt that President Buhari will engage the leadership of the National Assembly before their resumption to solicit support for the bill’s quick passage.


http://thenationonlineng.net/buhari-seeks-emergency-powers-tackle-economy/

kahal29:
BlackSeptember I have been following your comments, seems to me you're just having fun cos I feel you should know better.. ... the real cause of our economic problems now. The problem is not Buhari’s fault nor Jonathan but it accumulated over the years however while it seems that some blame Jonathan is because we made so much money during his Era but unfortunately we didn't get much out it. Having said that I think we should move on and make the best out this bad situation we ve found ourselves.

This is why I support this present initiative of the government to spend our way out of recession. This is keyenesian economics. The present inflationary threat is not a monetary phenomenon (ie what we call demand pull inflation in economics) and so their is little or nothing monetary policy by extension the CBN can do for us now. The current inflation is cost push in nature, fueled by external shocks (fall in oil prices) which is as a result of the import dependent nature of our economy and the scarcity of foreign exchange to meet our huge import demand Thus, we need fiscal policy stimulus which involves massive government expenditure and interventions in the critical sectors of the economy so as to stimulate Aggregate Demand and Lubricate the economy hence every bureaucratic bottleneck should be removed to fastrack the process.

So I plead with you to support the initiative and not play politics with it. However when the time for politics come you can play it to the fullest. I rest my case.

MrPresident1:
The office of president of Nigeria is powerful enough to implement any radical economic policies, infact, it is even over-powerful to do so. People should open their heads and start reasoning, Buhari is not what you think he is, Nigeria has been surrendered to the NWO.

After seeking emergency economic power and getting it, he will seek emergency security and political powers to deal with 'dissidents' and 'subverters', and that is when your eyes will open.

vedaxcool:
A major sociopolitical transition occured which had a majot impact in the way the economy is run. Mixing issues here wouldn't absolve pdp for a wasted opportunity to break from the past and chart a new future.

Mynd44:
I hate to bring bad news but we have started importing garri.

We export cassava and import garri from neighboring countries. I dont get it too, its like we just hate ourselves

Caseless:
Obama took responsibility for his party and blamed republican where necessary. That was because their system allows alternation of power between the party. But here , Pdp ruled for 16 years since inception of our democracy, who should apc blame?

Just as you were not there or born then , I was also not part of the cabinet too. And I don't think it's written anywhere that you must be part of the cabinet to know what the government is doing. Why I had to ask if you were there in 1984 is because other accounts pre-84 contradicts your line of argument. Besides, you made me believe that you argue based on facts . So when I saw your argument devoid of facts , I was forced to hold you back .

The biggest economy in Africa story is a farce and does not fly. What's the unemployment rate at that time? What was happening in education and health sector? What was Nigeria having under that slogan of "biggest economy"? If it was that rosy , why was the last administration kicked out?

Just like pre-84 where shagari asslickers made us believe everything was rosy until the government was toppled and BUHARI took over , so was the situation before he took over from the last administration; we horsewhiped them out.