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Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake - Politics (3) - Nairaland

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Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by HHANDM: 10:32am On Sep 27, 2016
Thumps up for Soludo.

He laid it bare and I hope the FG/the economic management team take note.

2 Likes

Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by Nobody: 10:53am On Sep 27, 2016
yedidiah:
If I hear say PMB no sanction the sale. He is just quiet just like OBJ was during his third term bid.
For the governors to support it shows that it has the imprint of the president all-over it.
The plot: Let others sell it while you stay at the background just in case it doesn't go down well.

You are adding speculation to facts in order to create your argument. The fact from this piece is that the President doesn't want to sell national assets. One of his reasons in this same article is that constitutional provisions would make this unrealizable in the short term.

These are the facts in this piece.

Your speculation is that there is a reason the President is quiet and that this reason is to give him deniability. This is incorrect logic. You can only make deduction where there are no facts or where you have addressed the weakness of the existing facts first.

I am hoping that a few other people will adopt logical argument on NL. It is the only way out for Nigeria. The only thing that can free us from excessive emotionalism and prejudice.

Please accept this in the spirit in which it is offered. God bless.
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by obaaderemi: 11:06am On Sep 27, 2016
2odd:
Well said , this politicians should stop thinking with their butt, but i disagrees with soludo that it will take two years to sell any asset ,those politicians don already steal the money they will use to buy those assets , they will hide under proxy companies to buy those assets afterwards they will share the money again.
assets wey dem don sell collect money share.

1 Like

Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by Nobody: 11:37am On Sep 27, 2016
But finally Buhari is a man! Buhari is a president!!!
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by henryadex(m): 1:08pm On Sep 27, 2016
[quote author=chigoizie7 post=49707535]

Lolz, they way we reason sef.

Why tamper the fund that is in local banks w that boosts financial confidence of the banks but will not tamper the funds in foreign banks? (foreign banks will use it for businesses, generate interests or profits, then plough it back to their economy and it continues to grow). Here u are wanting and clamouring for shrinking the local banks, shrink the local banks and u have automatically shrinked the economy the more. It is better to pump in more funds in the local banks to boost business activities, borrowing from private investors and all that.

My brother is u remove that $7billion from local banks now that the economy is harsh, now that oil is messing them up, then naija is dead.

How do u think advanced countries bail out their banks? Why do u think they bail banks out? U think it is by loans? Or by deposits?

@ this time, we need enough money in circulation.

The money can be accessed by its depositors, but this is not the time.

Besides, that money is part of our foreign reserve, and currently, the reserve is around 24billion, what do u think the balance of payment will look like once this 7billion is pulled out?
Try such nonsense and see naira sell for 1000 per dollar.

In other countries, what they do is pump money into the system, using the commercial banks, here u are clamouring for withdrawals.








Your angle of argument and grammar is incoherent and not understandable to a common man

1 Like

Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by chigoizie7(m): 1:51pm On Sep 27, 2016
[quote author=henryadex post=49714250][/quote]


Onye akwukwo, oya kowabazie
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by sorepco(m): 2:08pm On Sep 27, 2016
NOPE!!
You read but you did comprehend(é). He said if you follow normal procedure its a thing of 2 years. If na anyhow sales na 4 months to sell in my own understanding...
2odd:
Well said , this politicians should stop thinking with their butt, but i disagrees with soludo that it will take two years to sell any asset ,those politicians don already steal the money they will use to buy those assets , they will hide under proxy companies to buy those assets afterwards they will share the money again.
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by 2odd(m): 2:38pm On Sep 27, 2016
sorepco:
NOPE!!
You read but you did comprehend(é). He said if you follow normal procedure its a thing of 2 years. If na anyhow sales na 4 months to sell in my own understanding...
i do understand what He's saying but no b naija we dey where even the president no dey follow due process
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by orunto27: 2:51pm On Sep 27, 2016
Just hear yourself!!!!
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by galantjoe(m): 3:03pm On Sep 27, 2016
papaejima1:
I read Soludo's piece and I was like what the heck is wrong with our ruling class?
This is more like selling your only piece of land to send one of your seven children to primary school!
What then will you do when he gets to secondary level and other six enter primary school?
Armed robbery?

u have simply summarized the prof masterpiece in 2 sentences. Nice postings so far.

Kudos to prof soludo, soludoism
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by jpphilips(m): 4:11pm On Sep 27, 2016
papaejima1:
I read Soludo's piece and I was like what the heck is wrong with our ruling class?
This is more like selling your only piece of land to send one of your seven children to primary school!
What then will you do when he gets to secondary level and other six enter primary school?
Armed robbery?


The question I seem not to understand is where they get all these figures from? you have not received bids yet you have a clear picture of how much you will realize, una be witch? $7b, save the NLNG, no sane person will buy our JV in the Niger delta anywhere close to that amount at scrap value.
They lied to Buhari that floating the naira will bridge the gap between the official and BDC rates, they lied it will attract foreign investors, at the implementation stage, Emefiele did a "dirty float" against "clean float", now look at where we are, the gap was not breached, no investor on sight.
CBN auctions dollar at 308, the banks buy at 350 and sell at a whooping 415, we can see clearly who benefitted from the float.

Emefiele is an economic canker worm, he represents the interests of capitalists, bankers and any other robber in suit.
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by kelvinovie(m): 4:24pm On Sep 27, 2016
“No amount of reserves can stop currency speculation in a poor policy environment. There is much more to confidence than absolute or relative size of reserves.

“Look around our West African neighbours that are doing far better in economic terms and check out the size of their reserves (even as a percentage of GDP).

“Until 2004, Nigeria never had more than $10 billion in reserves, and we have survived oil prices below $10 without selling Nigeria. The British pound has been down for months against major currencies since the Brexit vote in June, while China (with trillions of dollars in reserves) experienced major stock market and currency attacks recently and the Yuan had to be devalued.

“Before the 2008/2009 crisis, Russia had robust reserves but it lost tens of billions struggling to defend the local currency and eventually yielded to the market,”
If only the Nigerian youth's are wiser.

1 Like

Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by mikolo80: 4:05pm On Sep 28, 2016
Tazmode:
The proposed sale is unconstitutional and illegal. U cant just do away with national assets which have been entrusted to d Nigerian government for the benefit of the Nigerian people
yeah like Nitel, nairways, nishipping, nta, nobody, nnpc,ajaokuta,nepa have been benefiting you abi ?

1 Like 1 Share

Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by Nobody: 7:05pm On Sep 28, 2016
mikolo80:
yeah like Nitel, nairways, nishipping, nta, nobody, nnpc,ajaokuta,nepa have been benefiting you abi ?
they were poorly mismanaged, no b my fault. And dats what d law says, no exception
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by mikolo80: 3:30am On Sep 29, 2016
Tazmode:
they were poorly mismanaged, no b my fault. And dats what d law says, no exception
so you believe nlng is well managed abi

1 Like 1 Share

Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by Nobody: 6:54am On Sep 29, 2016
mikolo80:
so you believe nlng is well managed abi
what I believe is not relevant, what d FG does is
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by mikolo80: 1:48pm On Sep 29, 2016
Tazmode:
what I believe is not relevant, what d FG does is
so why you complaining when they deciding to sell it off

1 Like 1 Share

Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by Nobody: 11:40am On Sep 30, 2016
mikolo80:
so why you complaining when they deciding to sell it off
u obviously can't differentiate between a complaint and a criticism. undecided
Re: Buhari Not Keen On Asset Sale, For Soludo, It Will Be A Historic Mistake by omohayek: 12:01pm On Sep 30, 2016
mikolo80:
so why you complaining when they deciding to sell it off

You're one of the few people on here who gets it. There is no point holding on to "national assets" that are highly mismanaged. There is some truth to what Soludo says about fire sales not bringing maximal value, but many of the "assets" held by the Nigerian government are actually losing money, and as such have essentially zero net present value; getting rid of these even at fire-sale prices would be a good thing.

Even supposedly profitable ventures like NLNG might be worth selling off - if private investors can improve their profitably sufficiently, it could even be that the corporate tax gains would outweigh what the Nigerian government currently earns from these "assets".

The benefits and drawbacks of any proposed sale will have to be determined by the specifics of each proposal, but unfortunately most Nigerian hear "national asset" and allow emotions to overpower their reasoning, forgetting how much economic damage past "assets" like NITEL, NEPA and Nigeria Airways did to the country during their existence.

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