₦airaland Forum

Atiku, you are a blatant liar. You did nothing as a vice president during OBJ's administration. You can't deceive us again. I pity those your ATIKULATORS.

Think about how many jobs FDI will create? You can't tell investor where and when to take thier money but the benefits that comes from FDI ir enormous that even United States can't survive without FDI. They will even give you green card if you can invest in US..

dat9jaguy:
What assurance do we have that these foreign investors will plough their profits back into our economy?Capital flight is a major problem facing our economy.
Atiku presidency will seriously set this country back.

feddis:
APC is not sharp enough to understand such kind of brilliance/knowledge he, (Atiku) is emitting.

Just because you don't understand doesn't mean other's don't understand.

Why do people post when they lack common knowledge about issues like this?

People saying they should fix power think they can use their keyboards to will it instantaneously into existence?

They seem not to be considering Nigeria's increasingly high debt profile or the lack of sufficient funding required to tackle pressing issues in our country today.

Yes to the untrained eye it seems like a huge gamble but if you look closely and further assess the current economic situation and policies in place this seems like one of the last few options left to take.

I was laughing when i saw people talking about industrializing nigeria

With which infrastructure?

Get it through your thick skulls that you can't industrialize Nigeria in the next decade!

I personally support this strategy so let's see whether if implemented would pan out according to plan

bigpicture001:
...for a very undeveloped country like nigeria,floating the exchange rate which means removal of restriction on both demand and supply side of the foreign currency..this will not end well for d economy. the citizens have insatiable desire for foreign goods nd not much imprt sustitución industries on ground to rival them....

It will eventually kill d economy nd dry up local investment nd employment will rise...

Nations that promote a market mechanism for exchange rate..i.e floated rate are well developed nd hv comparative advantage in international trade...it's certainly not a good idea for naija.....

samblow himself.... respect...

MeanChris:
See all the complex analysis Atiku is making, showing someone with a knowledge of economics.

The only thing Buhari knows and thinks is corruption this, corruption that..

Oya fight the corruption na, He's telling us that a consensus corrupt individual is responsible.

Oga Buhari is done.. he should go and rest, let capable hands handle the country.

Kai to Lifeless FC

I dont support any politician I just observe. I think Buhari really wants to fight corruption but can you see the people in his cabinet? People like Oshiomole, Amaechi, Saraki and others. All they are after is the national cake. They have sabotaged this government by being blatantly corrupt and going contrary to Buhari policy. If only Buhari would have been bipartisan and employed back Ribadu as EFCC boss and set example with even his closest allies. His government would have made an impact. Nigeria's problems are corrupt Governments and its officials.

Ericnrm:
Why do people post when they lack common knowledge about issues like this?

People saying they should fix power think they can use their keyboards to will it instantaneously into existence?

They seem not to be considering Nigeria's increasingly high debt profile or the lack of sufficient funding required to tackle pressing issues in our country today.

Yes to the untrained eye it seems like a huge gamble but if you look closely and further assess the current economic situation and policies in place this seems like one of the last few options left to take.

I was laughing when i saw people talking about industrializing nigeria

With which infrastructure?

Get it through your thick skulls that you can't industrialize Nigeria in the next decade!

I personally support this strategy so let's see whether if implemented would pan out according to plan

Thank you my brother.. with which infrastructure? Number one fix Power and investment will trickle in. No need for mathematics.

xtravanganza:
economic experts should comment not political fanatics.

Exactly

kayfra:
We need to rid off multiple exchanges for sure. But the political palatable way will be to ease into it. Makes a lot of sense in 2020 if Dangote and Adebutu refineries come online. We are way too exposed to the shocks of the oil commodities market. I believe most politicians acknowledge the necessity of implementing this, afterall IMF and world bank sing the tune all the time. It's just a political landmine and we are worse off for it.

I get your point. Interestingly, it isn't even a point worth debating. It's all about the implementation.

The only reason why it doesn't sound politically palatable is because of the government in power. In 2014-2015, the rate was being eased, from 150 to 196 to 223. Reason was because of the oil downturn. The downturn ended in 2016/2017 and the rate should have been fully floated. In that same time, minimum wage should have been increased to absorb the shock. Yet that wasn't done.

As such the government found no issue taking advantage of the devaluated naira to pay half the wage bill of the previous government but didn't simultanously float the rate to ease conflationary pressures nor increase wages to stimulate consumer spending. That's part of the reason why the economy is crawling when it should be gathering pace.

In 2008/2009 when we had the global financial crisis and oil downturn, the exchange rate fell 50%; and in 2011 Jonathan increased the minimum wage by 100%. The oil upswing got underway and we had our best job growth period since 1960.

This is not voodoo. An inept APC will make anything no matter how helpful sound like a detonation because of their crass daftness.

To oversimplify it; when there's an oil upswing, you float to take full advantage of the boom; when it inevitable hits a downturn, you can be a more tight-leashed on the rate; when the downturn ends, float again to get things moving quickly.

Those who are saying Atiku's plan will wreck the economy are the same people who kept quiet while currency round-tipping ruined the markets and the government refused to increase minimum wage despite the cost of most things more than doubling. It's Stockholm's syndrome. When you're so used to torture, you think anyone who wants to end it is out of his mind.

All of a sudden the same rate we floated from 1999 to 2014 will ruin the market, even with evidence to the contrary; while we should continue crawling with 1-2% growth rate until another downturn eventually hits us. The pegging has served its purpose. We should have started kicking things into gear since 2016.

The PDP knows how to run the economy, APC should be an NGO nothing more.

-Lord

The issue is not about FDI coming into the country, but the capability of Nigerians to support such investment to succeed. The citizens need to be given the kind of education that is required in this 21st century, by the time this is faithfully carried out, Nigerians will developed and create businesses that will run the nation.

femiti:
https://www.intelligenteconomist.com/supply-side-policies/

it's really funny how you threw this into this argument. I went studying it and behold its exactly what atiku is proposing.... In theory. Let's stop arguing just for political inclination.

bigpicture001:
........

Plz hw du u yhink u can imprve the supply side of the foreign ecchange market. You thing the FDI will save u in that aspect.. i want u to know that fdi will not grow,rather it wilk be portfolio investment. Thos e arr not investor,but opportunist....it will worses the nations situation....

If you dont know ,the beat way to grow ur economy with large security is when domestic investment exedd FDI..and that us the reason i dont shop at shoprite

we may have to sacrifice the supply side of forexsince were desperately in need of cutting down importation in substitution for local production. Its funny you hzvdnt considered we will still export oil via dollars/forex. More important is the fact that we need FDI influx will help in production and our destructive need for forex/imported goods.

Enice:
rice is 23k now and people are crying. with atiku's super inflation it will become 90k. inshort, venezuala and zimbabwe will be far better than nigeria. the salary increase being fought by labour will be wiped out

why would this happen? Obviously you're hoping we will still be importing forever.

GoodGovernance:
The best way to boost FDI:

1.Ease of doing business
2.Regular power supply
3.Anti Corruption
4.Security
5.Good transport network like railways,roads

If you like float your Naira on the ocean,No FDI without the above.

foreign investments will flow naturally if the above factors are all positive, because of our population and thus huge market.

The same Atiku wants to restructure Nigeria in six months!

Atiku is a scam!


#IStandWithBuhari

you made sense but I can't stand with buhari, maybe I will sidon look, atiku is allowing these voodoo economist to deceive him

revolt:
why would this happen? Obviously you're hoping we will still be importing forever.

even if it is in the short run it's not a good idea

GoodGovernance:
The best way to boost FDI:

1.Ease of doing business
2.Regular power supply
3.Anti Corruption
4.Security
5.Good transport network like railways,roads

If you like float your Naira on the ocean,No FDI without the above.

foreign investments will flow naturally if the above factors are all positive, because of our population and thus huge market.

The same Atiku wants to restructure Nigeria in six months!

Atiku is a scam!


#IStandWithBuhari

gosh.... All these only contribute the major one is deregulation and bills to support ...most of you aren't educated in this. Were all these fixed when we sww massive influx of FDI during objs era.?!!! You don't know why Mtn; dstv even in a recession refused to go? Na wa for the things I read here.

[quote author=GoodGovernance post=73007989]The best way to boost FDI:

1.Ease of doing business
2.Regular power supply
3.Anti Corruption
4.Security
5.Good transport network like railways,roads

If you like float your Naira on the ocean,No FDI without the above.

foreign investments will flow naturally if the above factors are all positive, because of our population and thus huge market.

The same Atiku wants to restructure Nigeria in six months!

Atiku is a scam!


#IStandWithBuhari[/quoteAll these only contribute the major one is deregulation and bills to support ...most of you aren't educated in this. Were all these fixed when we sww massive influx of FDI during objs era.?!!! You don't know why Mtn; dstv even in a recession refused to go? Na wa for the things I read here.

chuckjonesbaba:
Thank you my brother.. with which infrastructure? Number one fix Power and investment will trickle in. No need for mathematics.

if years u like fix power and build all roads ...if you do not deregulate your wasting your time. Ask Russia.

LordAdam16:
I get your point. Interestingly, it isn't even a point worth debating. It's all about the implementation.

The only reason why it doesn't sound politically palatable is because of the government in power. In 2014-2015, the rate was being eased, from 150 to 196 to 223. Reason was because of the oil downturn. The downturn ended in 2016/2017 and the rate should have been fully floated. In that same time, minimum wage should have been increased to absorb the shock. Yet that wasn't done.

As such the government found no issue taking advantage of the devaluated naira to pay half the wage bill of the previous government but didn't simultanously float the rate to ease conflationary pressures nor increase wages to stimulate consumer spending. That's part of the reason why the economy is crawling when it should be gathering pace.

In 2008/2009 when we had the global financial crisis and oil downturn, the exchange rate fell 50%; and in 2011 Jonathan increased the minimum wage by 100%. The oil upswing got underway and we had our best job growth period since 1960.

This is not voodoo. An inept APC will make anything no matter how helpful sound like a detonation because of their crass daftness.

To oversimplify it; when there's an oil upswing, you float to take full advantage of the boom; when it inevitable hits a downturn, you can be a more tight-leashed on the rate; when the downturn ends, float again to get things moving quickly.

Those who are saying Atiku's plan will wreck the economy are the same people who kept quiet while currency round-tipping ruined the markets and the government refused to increase minimum wage despite the cost of most things more than doubling. It's Stockholm's syndrome. When you're so used to torture, you think anyone who wants to end it is out of his mind.

All of a sudden the same rate we floated from 1999 to 2014 will ruin the market, even with evidence to the contrary; while we should continue crawling with 1-2% growth rate until another downturn eventually hits us. The pegging has served its purpose. We should have started kicking things into gear since 2016.

The PDP knows how to run the economy, APC should be an NGO nothing more.

-Lord

PDP knows how to grow economy??
For real?

No wonder Nigerian states were struggling to pay salaries in 2015.

No wonder Okonjo Iweala said Nigerian should be prepared for hard days in 2014.

Sixteen blessed years of high oil price and they can't fixed power supply problems.


They couldn't find a solution to our road networks that turned to death traps.

They could not boost local production.. Nigeria was still importing like mad in 2015. To the extent we were importing toothpicks.

I really don't know what else to say else, but I know what condom would have helped us prevent if someone has used it.

grandstar:
Nigeria's high inflation rate is caused by the Naira substitution policy which an economist Henry Boyo has wailed about and which Soludo was sabotaged from ending.

Every month, dollar revenues from crude oil are shared amongst the 3 tiers of government. This month allocation is paid to them in Naira.

So, let's say Nigeria earned $2b in December , 620b will be shared amongst them. This immediately swells up the money in circulation leading to excess money in circulation.

In order to mop up the excess money, government issues high yielding bonds to soak up the excess money.

Since Nibor rates are the basis of bank loans, lending rates are also high. Now imagine if $3b or 930b was released!. The more the earnings, the more the wahala.

Henry Boyo suggested that the 3 tiers of government be paid with dollar certificates which can be redeemed at any commercial bank.

With the policy, the excess Naira in circulation ends and dollars will begin to chase Naira.

The governors were against it when Soludo was the governor of the CBN. They didn't understand it. Note, they will be paid with dollar certificates and not actual dollars.

Also , CBN colleagues were against the idea and were now in the he position to clip his wings now that Yaradua was now in office.

Yaradua heard their cries and put a full stop to it. An edict was even introduced ensuring it is as dead as a dodo.

What is the meaning of Nibor rates in paragraph 5.?


Do you mean Bond rates but was misspelt Nibor rates.?

No am an errand boy

tinsel:
Are you a gateman?

EternalTruths:
What is the meaning of Nibor rates in paragraph 5.?


Do you mean Bond rates but was misspelt Nibor rates.?

No misspelling sir.

Google it. Its the Nigerian equivalent of the British Libor rate, which is a well known international financial benchment

You have extreme valid points here.

What I commend Atiku for is his ability to lay out such road map towards economic recovery.
Yes, some of it might be a wrong move, but these are all still subject to scrutiny.
Even Trump had a road map that was still re-evaluated and scrutinized. Take for instance his decisions to pick fights with allies over America's economy and security. As much as he intended to use more harsher measures but was still re-shaped to be fairly just.

Hence, Atiku laying out such road map doesn't literally means its going to be implemented the way his words lay the,m out.
We hope for a better Nigeria together.

kingkakaone:
Brother, let's remove political affiliations in our analysis and we'll see that this move is DOA.
Also thinking a VP will influence Atiku and his decisions is a bad gamble because we know how power drunk Africans leaders are.
Imagine how Pence has been silenced in Trump's government, that's to show u that a VP has little or no power to influence a regime.

BTW, This move by Atiku will destroy the economy as all foreign investments will be short term and will expose the country to danger when most of the investors relocate their money abroad.

I expected Atiku to talk more on improving our manufacturing sector and other solid minerals to enhance our local currency and reduce our reliance on imports.

Look bro, so long as our import is so high, this move is suicidal.

revolt:
why would this happen? Obviously you're hoping we will still be importing forever.

obviously party politics has blinded your eyes. in nigeria, when price of one commodity goes up (either import or export) it affects others

If only sense was given to all.

BafanaBafana:
Just because you don't understand doesn't mean other's don't understand.

Speak for yourself and your kindred.

grandexpress:
From frying pan to fire. We are finished!!

It would've protected us from your insanity also.

OAUTemitayo:
PDP knows how to grow economy??
For real?

No wonder Nigerian states were struggling to pay salaries in 2015.

No wonder Okonjo Iweala said Nigerian should be prepared for hard days in 2014.

Sixteen blessed years of high oil price and they can't fixed power supply problems.


They couldn't find a solution to our road networks that turned to death traps.

They could not boost local production.. Nigeria was still importing like mad in 2015. To the extent we were importing toothpicks.

I really don't know what else to say else, but I know what condom would have helped us prevent if someone has used it.

xandy84:
Think about how many jobs FDI will create? You can't tell investor where and when to take thier money but the benefits that comes from FDI ir enormous that even United States can't survive without FDI. They will even give you green card if you can invest in US..

FDI, FDI. na today FDI dey enter d country? most of this investors are only interested in quick money. they are called portfolio investors. 57

We all know who the greater scammer is.
The person that scammed the entire nation with corrupt cabinet members and refused to prosecute any and even joined them by scamming us with ordinary WAEC result.
Buhari is a sham.

[quote author=revolt post=73014269][/quote]

Unfortunately for you, Buhari has deceived and brainwashed your senses. You're in doom.

\

enicid:
Atiku, you are a blatant liar. You did nothing as a vice president during OBJ's administration. You can't deceive us again. I pity those your ATIKULATORS.

quickberry:
See the person that wants to rule us, that would be an economic suicide Mr. Atiku

Don't attack his personality if you need to argue do that based on sound macroeconomics principles or you keep quiet.