₦airaland Forum

Skmoda360:
i don't wanna start a baseless argument with you....cuz you seem clueless about what is going on presently in the country..

you are actually the one that is clueless.

You join the bandwagon to shout recession, and when the economic indices says we are out , you still join the bandwagon to say we are in.

Google the meaning of recession before quoting me, nansense

presidency:
Nigeria Is Out Of Recession And President Buhari Is Transforming The Economy.

Around the middle of 2014, when the price of crude oil fell dramatically, Nigeria’s finances became challenged. This is not hard to explain: We’ve historically depended on crude oil for as much as 70 per cent of government revenues and 90 per cent of foreign exchange earnings. The outcome—pressure on government finances—was by no means unusual. A similar fate befell most oil-rich countries around the world.

Where Nigeria possibly stood out was in the fact that during the preceding three years—when oil prices were in excess of $100 per barrel—the previous administration did little in terms of saving and investing for the future. Our sovereign wealth fund—which was established in October 2012 with just US$1 billion—did not receive any further inflow during the oil price boom. Instead, billions of dollars were squandered through corrupt oil and defense contracts.

It is a terrible thing for a country to fall on hard times without a savings buffer. But there was nothing unexpected about our downturn. It was the inevitable result of the choices we made or didn’t make during the years of boom.

What is remarkable—yet not talked about as much—is the way we have worked so hard to exit the recession, reset the economy and reposition Nigeria for a brighter future for present and future generations of Nigerians. President Muhammadu Buhari and his administration are laying the foundations for the kind of economic growth that makes a real impact in the lives of citizens.

The downturn has inspired unprecedented levels of fiscal responsibility, in line with President Buhari’s determination to fight Nigeria’s endemic corruption.

Shortly after taking office, he issued a presidential order mandating the immediate implementation of the Treasury Single Account (TSA) system, consolidating thousands of government accounts scattered across banks into a unified system that is transparent and easy to centrally monitor and track. Under the old system, it was common for government accounts to be converted into personal use, but under the TSA this is impossible. Also, the proliferation of accounts encouraged several questionable practices.

Budgetary reform has also taken a lot of our time and attention. We are pioneering the use of software to prepare our annual budgets, which allows greater transparency and the ability to track changes.

We have insisted on using biometric verification in the deployment of our social investment programme, which includes a job scheme for unemployed graduates; a school feeding scheme for primary school pupils; a conditional cash transfer scheme targeting a million of our poorest citizens; and a micro-credit scheme for artisans, farmers, and traders. In the past, social investment payments would have been made as cash handouts.

A similar insistence on biometric verification for the federal payroll has resulted in the detection of tens of thousands of bogus beneficiaries—or “ghost workers,” as we often refer to them in Nigeria—and savings running into billions of naira every month. The tighter rein on public finances allowed us invest $500 million in our sovereign wealth fund during a recession.

We are pursuing unprecedented cooperation with foreign governments and powers, as part of our transparency and anti-corruption drive. For the simple reason that a disproportionate amount of public funds looted in Nigeria end up in the United Arab Emirates, Nigeria has signed bilateral agreements with the UAE government on extradition, exchange of information, and repatriation of stolen public funds.

One strong demonstration of our political will has been a whistleblowing scheme we launched months ago that empowers citizens to report public corruption. The impact in terms of recoveries has exceeded our expectations: In two high-profile examples, $43 million and $9.8 million in looted cash were recovered from apartments in Lagos in the south and Kaduna in the north respectively.

A lot of the work we have done since President Buhari came to office in May 2015 has been focused on dismantling the old ways of doing things, rebuilding them, and empowering and fortifying our institutions with technology to block loopholes, discourage abuse, and prevent a relapse into the destructive ways of the past.

The new Nigeria we seek will not happen without this kind of foundational reform that imposes on us new ways of thinking and of doing things. The early results are already being seen. A concerted focus on agriculture has seen our rice imports from Thailand dropping by 90 per cent between 2015 and 2016 and being replaced by locally grown variants.

As oil has let us down, we have started to do what we should have done decades ago: Invest in agriculture and mining. Throughout the recession, agriculture recorded healthy growth. As we emerge from the recession, its impact is certain to multiply and position Nigeria for a prosperous future.

The most important elements of any reform effort tend to be the least flamboyant. We are confident that in the months and years ahead, Nigerians and the world will see the full impact of the foundational resetting that the Buhari administration has been focused on since 2015.

There is of course a lot of resistance to reform, by vested interests within and outside the system. But we are not fazed. The work of reform goes on. To borrow a phrase from the Nigerian novelist, Chinua Achebe, it is morning yet on Creation Day. Not very long from now, Nigerians and the world will look back on the recession we have just emerged from, and realize that it was the turning point in Nigeria's journey to true growth and greatness.


By The Hounorable Minister Of Finance,
Kemi Adeosun.

Source: http://www.newsweek.com/nigeria-economy-recession-muhammadu-buhari-693620

Kemi thunder fire u

Madam Kemi, just continue doing your bit for the economy and the nation and God will continue to bless you and our president.
Those children of hate will still continue to hate but don't mind them, we shall get there.

lilmax:
is this woman mad?

Everytime I see her, I ask the same question.

chukzyfcbb:
you are actually the one that is clueless.

You join the bandwagon to shout recession, and when the economic indices says we are out , you still join the bandwagon to say we are in.

Google the meaning of recession before quoting me, nansense

is this one mad?, who quote you? No be you first quote me......i don't have your time cuz if i do, you will lick your yansh with your fugly mouth....idiota

iluvpomo:
In related news, North Korea just won the U17 World Cup ... so happy for Kim Jong Un

lol....on which planet was that played

Transforming which economy , I think its x pocket and friends economy ,he is transforming , abi the transformer reach ur side .. ?

Oh baby Kemi! You don't need to say it twice. It is very obvious. Buhari has actually transformed Nigeria. Just as I saw Shekau with a bible in onitsha market last Friday preaching the gospel.

Foolish Woman! Infact, this woman is a disgrace to her kinsmen and the people she represents both economically and geo-politically

Recession is over n how much is a dollar per naira? I remember it was 150naira/dollar b4 u nd ur clueless APC brought in this recession. 3years is almost gone n all we here is excuses; make una come go abeg.

Femich18:
lol....on which planet was that played

I was just trying to match the thread topic

signature2012:
Just imagine

in fact Nigeria matter don tried me

signature2012:
Just imagine

in fact Nigeria matter don tried me

Nigeria dy fall ds woman dy talk nonsens

What is dis agege bread seller saying again?

I don't know y u pple fail to understand this government
u cannot expect 2years administration to cover up all the mess of 16years of PDP. guys pls wake up and stop complaining. the youth empowerment is on if u go to the nearest bank of industry nearer to u.

presidency:
Nigeria Is Out Of Recession And President Buhari Is Transforming The Economy.

Around the middle of 2014, when the price of crude oil fell dramatically, Nigeria’s finances became challenged. This is not hard to explain: We’ve historically depended on crude oil for as much as 70 per cent of government revenues and 90 per cent of foreign exchange earnings. The outcome—pressure on government finances—was by no means unusual. A similar fate befell most oil-rich countries around the world.

Where Nigeria possibly stood out was in the fact that during the preceding three years—when oil prices were in excess of $100 per barrel—the previous administration did little in terms of saving and investing for the future. Our sovereign wealth fund—which was established in October 2012 with just US$1 billion—did not receive any further inflow during the oil price boom. Instead, billions of dollars were squandered through corrupt oil and defense contracts.

It is a terrible thing for a country to fall on hard times without a savings buffer. But there was nothing unexpected about our downturn. It was the inevitable result of the choices we made or didn’t make during the years of boom.

What is remarkable—yet not talked about as much—is the way we have worked so hard to exit the recession, reset the economy and reposition Nigeria for a brighter future for present and future generations of Nigerians. President Muhammadu Buhari and his administration are laying the foundations for the kind of economic growth that makes a real impact in the lives of citizens.

The downturn has inspired unprecedented levels of fiscal responsibility, in line with President Buhari’s determination to fight Nigeria’s endemic corruption.

Shortly after taking office, he issued a presidential order mandating the immediate implementation of the Treasury Single Account (TSA) system, consolidating thousands of government accounts scattered across banks into a unified system that is transparent and easy to centrally monitor and track. Under the old system, it was common for government accounts to be converted into personal use, but under the TSA this is impossible. Also, the proliferation of accounts encouraged several questionable practices.

Budgetary reform has also taken a lot of our time and attention. We are pioneering the use of software to prepare our annual budgets, which allows greater transparency and the ability to track changes.

We have insisted on using biometric verification in the deployment of our social investment programme, which includes a job scheme for unemployed graduates; a school feeding scheme for primary school pupils; a conditional cash transfer scheme targeting a million of our poorest citizens; and a micro-credit scheme for artisans, farmers, and traders. In the past, social investment payments would have been made as cash handouts.

A similar insistence on biometric verification for the federal payroll has resulted in the detection of tens of thousands of bogus beneficiaries—or “ghost workers,” as we often refer to them in Nigeria—and savings running into billions of naira every month. The tighter rein on public finances allowed us invest $500 million in our sovereign wealth fund during a recession.

We are pursuing unprecedented cooperation with foreign governments and powers, as part of our transparency and anti-corruption drive. For the simple reason that a disproportionate amount of public funds looted in Nigeria end up in the United Arab Emirates, Nigeria has signed bilateral agreements with the UAE government on extradition, exchange of information, and repatriation of stolen public funds.

One strong demonstration of our political will has been a whistleblowing scheme we launched months ago that empowers citizens to report public corruption. The impact in terms of recoveries has exceeded our expectations: In two high-profile examples, $43 million and $9.8 million in looted cash were recovered from apartments in Lagos in the south and Kaduna in the north respectively.

A lot of the work we have done since President Buhari came to office in May 2015 has been focused on dismantling the old ways of doing things, rebuilding them, and empowering and fortifying our institutions with technology to block loopholes, discourage abuse, and prevent a relapse into the destructive ways of the past.

The new Nigeria we seek will not happen without this kind of foundational reform that imposes on us new ways of thinking and of doing things. The early results are already being seen. A concerted focus on agriculture has seen our rice imports from Thailand dropping by 90 per cent between 2015 and 2016 and being replaced by locally grown variants.

As oil has let us down, we have started to do what we should have done decades ago: Invest in agriculture and mining. Throughout the recession, agriculture recorded healthy growth. As we emerge from the recession, its impact is certain to multiply and position Nigeria for a prosperous future.

The most important elements of any reform effort tend to be the least flamboyant. We are confident that in the months and years ahead, Nigerians and the world will see the full impact of the foundational resetting that the Buhari administration has been focused on since 2015.

There is of course a lot of resistance to reform, by vested interests within and outside the system. But we are not fazed. The work of reform goes on. To borrow a phrase from the Nigerian novelist, Chinua Achebe, it is morning yet on Creation Day. Not very long from now, Nigerians and the world will look back on the recession we have just emerged from, and realize that it was the turning point in Nigeria's journey to true growth and greatness.


By The Hounorable Minister Of Finance,
Kemi Adeosun.

Source: http://www.newsweek.com/nigeria-economy-recession-muhammadu-buhari-693620

na God go punish you!

Benz4pimp:
i love your reply,but you don’t need to act stupid by quoting all that...shows how illiterate you are on nairaland!!!please make use of your Grey matter

one mad goat on the loose

timilehin007:
Because of this 3 words u quote the whole post...u are a fool I swear

Another mad goat on the loose

id911:
Madam Kemi, the reality on ground is quite different. Tell your Principal the absolute truth so that he will sit up and effect the needed change so that Nigerians will enjoy the benefits of democracy they sacrificed for.


Nigerians, let's wisen up and ATIKULATE for a prosperous future

You're a youth and you want to recycle these worn out politicians, are you OK at all?

Nightwolf1:
one mad goat on the loose

e pain am

Nightwolf1:
Another mad goat on the loose

U are a fool sincerely...if not u wouldn't quote everything...just imagine urself quote all that post because u want to write "story story story.."

timilehin007:
U are a fool sincerely...if not u wouldn't quote everything...just imagine urself quote all that post because u want to write "story story story.."

If u aren't a bemused bastard suffering from cerebral palsy and Internet hangover u shudnt have bothered about my decision to quote everything along side my rebuttal.

Silly stinking twerp

Benz4pimp:
e pain am

Says an imp

Kemi Adeweria stop lying to self, u are do urself more harm than good. Me and u no. dat u n jebrin are only joking. Ur Father dere!

Nightwolf1:
If u aren't a bemused bastard suffering from cerebral palsy and Internet hangover u shudnt have bothered about my decision to quote everything along side my rebuttal.

Silly stinking twerp

Who are you trying to impress with all these typo-gibberish.....the fact still remains that u are very silly and so childish to av quoted all the post just cuz u wanted to write a word and ur foolishness escalated to the highest order so much that it propelled you to write that same word thrice...

timilehin007:
Who are you trying to impress with all these typo-gibberish.....the fact still remains that u are very silly and so childish to av quoted all the post just cuz u wanted to write a word and ur foolishness escalated to the highest order so much that it propelled you to write that same word thrice...

I'm not trying to impress a despicable twerp drooling saliva all over nl cos my life doesn't depend on it. Stinking brain dead bastard

Nightwolf1:
Says an imp

Eyah!!!!

For another President coming from the North come 2019 will even be worse than Buhari in terms of ethnicity and tribal sentiment and will have no major plan for the country's development.

Nightwolf1:
I'm not trying to impress a despicable twerp drooling saliva all over nl cos my life doesn't depend on it. Stinking brain dead bastard

U are the bastard here....I can see how much my comments are hitting u real bad hence the paranoiding..and I still really don't give a flying fvck about what u think...that space u wasted could have bn used for sensible and palatable contribution...it's not necessary u comment if u don't have anything reasonable to say u should learn to read comments from sensible people instead.. I see u are one of those children whose aim are to make front page or comment first...u really need to grow up kiddo...grow up son

timilehin007:
U are the bastard here....I can see how much my comments are hitting u real bad hence the paranoiding..and I still really don't give a flying fvck about what u think...that space u wasted could have bn used for sensible and palatable contribution...it's not necessary u comment if u don't have anything reasonable to say u should learn to read comments from sensible people instead.. I see u are one of those children whose aim are to make front page or comment first...u really need to grow up kiddo...grow up son

If u aren't a saliva dripping bastard u shudnt have gone mad posting trash about my style of rebuttal. Stupid strabismus eyed homeless goon. Keep living ur whole but wasted life on NL.

Nightwolf1:
If u aren't a saliva dripping bastard u shudnt have gone mad posting trash about my style of rebuttal. Stupid strabismus eyed homeless goon. Keep living ur whole but wasted life on NL.

..
U just needed to be schooled...I saw that u are just a kid hence the reason y did that disgusting thing...u are so lackadaisical and lack home training apparently ur parent are tout because u are graciously displaying ur outlawed attitudes...I still maintain my stand that u are brain dead and ur supposing brain contains kerosene...I won't stop schooling u till u are grown enough to know that u were stupid and such a ninny to have done that u did...u can bring ur shits on..I am always ready to keep schooling you