₦airaland Forum

Gnaeusmagnus:
The problem is, they won't listen

If South Africa wants to be proseprous, they have to increase their manufacturing power. This recession came about because they got too dependent on exporting raw materials, and less dependent on exporting manufactured stuff.

Modifed

Part of the problem is that the arphateid government refused to improve vocational and technical education among the black majority. Because they did not want them to get stronger than the white minority. This meant that as a result, when arphateid came down, SA was not really ready for the global market.

SA could have been an industrial superpower on the level of Japan, China and even Germany. Racism failed them.

The ANC government when they took over, made matters worse. Because there was a high demand for welfare from the poor black majority, they immeidately put their economy on 'sell raw materials, earn money, share the money' mode. Chinese exports wiped out vital parts of their economy like the steel industry. At the end of the day, SA became a resource dependent economy.

A big lesson for Nigeria too.

fairfora:
Hmmm, what would you say of south Sudan...more populated than Nigeria? There are other countries I could use as a model or case study in Africa. What of the Central African Republic...is the population also much and why are they not being easy to govern or managed?

sweetjohn:
you said it all, you know nothing

SpecialAdviser:
Great. I really wished Buhari ate the humble pie and appointed this woman into his cabinet.

Everything cannot be politics of bitterness. Good people that can help your government should be considered irrespective of party affiliation.

NGpatriot:
Today we are borrowing money to build Lagos Ibadan railway, but the money she stole with jona and gave to Dasuki to share with their cronies like FFK, Fayose, Metuh and others was enough to build 2 Lagos Ibadan railway.

So, you want PMB to ask her to come back and loot our money or borrow hundreds of billions every month to pay workers salary or or to declare austerity measure again.


Abeg no dey swear for us with that useless woman.

These clueless people sef.

gwafaeziokwu:
Were you aware that Nigeria was not among the countries pencil down for debt relief?
Go and find out how Nigeria managed to be included afterall and then come back and give credit to whom it is due.

0m0nnakoda:
https://www.reactiongifs.us/wp-content/uploads/2013/10/lol_idi_amin.gif

0m0nnakoda:
https://www.reactiongifs.us/wp-content/uploads/2013/10/lol_idi_amin.gif
You folk reason in a puerile manner.
You get a childish idea into your head and it becomes reality

If you have any evidence share otherwise be silent

useurkidney3121:
Good one madam Ngozi,
Buhari crooners will not like this,
Moral of d story: Always appreciate what u have.

NGpatriot:
The way they lie and make up stories is legendary...

Basher8583:
I have already told you. You will be the first to complain if the current government employs Rwandas method of governance.
Remember Buharis style of Government in the 80s? That's your clue.

Africans are perculiar people and cannot thrive under a democratic governance.

If you have a sincere leader with an autocratic style of leadership Naija go betta.
Give Buhari the opportunity to lead with autocratic style of governance and see changes.
You will see people like Atiku, Saraki, Dino, FFK and Kashamu going on exile out if fear

oilPUSSY:
Where is Kemi Adeosun, the yoruba version of Ngozi Okonjo Iwela ?

NGpatriot:
Today we are borrowing money to build Lagos Ibadan railway, but the money she stole with jona and gave to Dasuki to share with their cronies like FFK, Fayose, Metuh and others was enough to build 2 Lagos Ibadan railway.

So, you want PMB to ask her to come back and loot our money or borrow hundreds of billions every month to pay workers salary or or to declare austerity measure again.


Abeg no dey swear for us with that useless woman.

These clueless people sef.

0m0nnakoda:
She failed so there was no need to reappoint her.

In our history no finance minister has had more revenue at their disposal as she did between 2011 and 2015.
What did she do with it?
Much of it was stolen
She failed to save and the moment oil price dropped she was found out.

She started to borrow to pay salaries immediately that happened

Her very first budget in 2012 saw the subsidy scandal.in which subsidy tripled overnight

She released stolen funds to Olisa Metuh, Fayose ,Dasuki


The truth is that under her there was UNPRECEDENTED LOOTING of our commonwealth and an embarrassing failure to DIVERSIFY from oil

gforce5:
Bros, just admit that you despise anyone with igbo blood. Your racism is so obvious that it cannot be hidden. You probably hate Dora Akunyill, Kanu Nwankwo, Okocha, Soludo, Adiche and Achebe despite their achievements simply because of their tribe.

0m0nnakoda:
Truth is between 2011 and 2015 Oil prices were higher than at any time in history and that may never be repeated.


What exactly did she achieve during this window of opportunity.
When Sanusi spoke up against looting she superintended his dismissal.

The looting under her tenure is unrivalled

gforce5:
Bros, just admit that you despise anyone with igbo blood. Your racism is so obvious that it cannot be hidden. You probably hate Dora Akunyill, Kanu Nwankwo, Okocha, Soludo, Adiche and Achebe despite their achievements simply because of their tribe.

useurkidney3121:
Good one madam Ngozi,
Buhari crooners will not like this,
Moral of d story: Always appreciate what u have.

Sanbuchi:
The gods

fairfora:
Na so. But why has elrufai, bagudu, gbajabiamila, ovie omo agege, akpabio and our kano gandollar still hub-nobbing with same Buhari? You made a great mistake by thinking the Buhari was the one in charge of the 80s govt. It was tunde idiagbon who was rolling the show. Buhari was and still a figure head leader. I wonder why he's planning to give a 100 million usd largesse to Bagudu, the American ex-convict who laundered money fir Abacha when he was in government and the same Buhari would say publicly that Abacha isn't a corrupt man..
I think that's the kind of leadership you want.

The problem is, they won't listen

If South Africa wants to be proseprous, they have to increase their manufacturing power. This recession came about because they got too dependent on exporting raw materials, and less dependent on exporting manufactured stuff.

Modifed

Part of the problem is that the arphateid government refused to improve vocational and technical education among the black majority. Because they did not want them to get stronger than the white minority. This meant that as a result, when arphateid came down, SA was not really ready for the global market.

SA could have been an industrial superpower on the level of Japan, China and even Germany. Racism failed them.

The ANC government when they took over, made matters worse. Because there was a high demand for welfare from the poor black majority, they immeidately put their economy on 'sell raw materials, earn money, share the money' mode. Chinese exports wiped out vital parts of their economy like the steel industry. At the end of the day, SA became a resource dependent economy.

A big lesson for Nigeria too.

Basher8583:
Please I will appreciate if you want to discuss with me do so with some intelligence. Using sentiments to argue just exposes you as a lazy youth. If I delegate a task to my vice, how is that a weakness on my own part? Buhari is not like the following pair
1. Obasanjo (pdp) who didn't trust his vice.
2. GEJ (pdp)who had a non functioning vice.

So for you it is now a problem empowering ones vice.
Well it's like you are a kid cuz your reasoning is too shallow.

Well as for the rest of your post, they are just mere sentiment that will consume you.

kutashi:
What did you have? The paper economist that spent everything in reserveduring Jona! The same woman that was borrowing to pay salary abi! I can see you as dumb as your village people! Madam economic rebasing The same people overran South Africa and put them into trouble! She was unable to achieve what Kemi did! Atleast, Kemi cleared her Mess! Under your Madam Paper Economist, ghost workers increased tremendiously and excecutive looting was taken place but couldn't honorably resign but decided to stayed put because of her useless dollar salary! Oniranu gbogbo!

Those people from World bank, LSE, Harvard and IMF are just paper economist! They will do abracadabra for your economy to be at par for a week only to be in recession for the next 5 years.

One of my Lecturer @ UK in a strategic Studies class told me this off record that our leader from were busy implementing nonsense they were thought @ LSE to ruin their economy!

FG borrows N473bn to pay salaries – Okonjo-Iweala

Wednesday, May 6, 2015

The federal government has borrowed 473 billion naira to meet up with recurrent expenditure including paying of salaries while it is yet to release funds for capital projects.

According to Reuters, Nigeria has already used half the borrowing allowance it has budgeted for and has not released any funds for capital expenditure so far this year, as lower oil prices eat into its revenues, the country’s finance minister said on Tuesday.

“We have serious challenges,” Finance Minister Ngozi Okonjo-Iweala said in an emailed statement. “Things have been tough since the beginning of the year and they are likely to remain so till the end of the year.”

The borrowed money has been spent to cover overhead, including salaries, the minister said.

https://www.pmnewsnigeria.com/2015/05/06/fg-borrows-n473bn-to-pay-salaries-okonjo-iweala/

FG introduces austerity measures

ON NOVEMBER 17, 20147:54


ABUJA—The Federal Government, yesterday, introduced some austerity measures and scaled down the crude oil bench mark for the 2015 budget. In a bid to insulate the economy from falling crude oil prices the federal government announced far-reaching policy measures to deal with the crashing crude oil prices, cutting 2015 oil benchmark from $78 to $73 per barrel. Crude oil prices dropped to $77.76 per barrel, some cents below the $78 earlier proposed to the National Assembly as bench mark for the 2015 budget.

Read more at: https://www.vanguardngr.com/2014/11/fg-introduces-austerity-measures/

More austerity measures coming – Okonjo-Iweala
Posted by InvestAdvocate on January 16, 2015


Following the continuous decline of the price of crude oil in the international market, the Federal Government on Thursday said it was preparing additional measures to mitigate the impact of the price drop on the Nigerian economy.

https://investadvocate.com.ng/2015/01/16/more-austerity-measures-coming-okonjo-iweala/

NGpatriot:
It beats me why they praise their useless and incompetent people, especially okonjo who colluded with Jona to steal our security fund and gave it to Dasuki to share with their cronies.

Okonjo and Jona were practically borrowing hundreds of billions every month to pay salary up a few days before PMB.

When oil was selling for $77, okonjo declared austerity measures, imagine her action with oil selling for $27, probable auction off Nigeria.

SA's economy is inside trash, they are in a recession while Nigeria's economy is full steam ahead as the largest economy in Africa.

SA can have that useless and incompetent woman, she can teach them how to steal money for sharing, she can teach them how not to diversify and instead declare austerity.

Good riddance.

Bizibi:
I know I will see this empty drum of a sycophant that supports the dafts in aso Villa.

How Jonathan, Okonjo-Iweala illegally diverted N61.4 billion Abacha loot to NSA, Sambo Dasuki



The immediate past Minister of Finance, Ngozi Okonjo-Iweala, illegally approved the transfer of at least N61.4 billion ($300 million and £5.5 million) from funds recovered from late dictator, Sani Abacha, to the Office of the National Security Adviser, Sambo Dasuki, few weeks to the 2015 presidential election, PREMIUM TIMES can authoritatively report today.

The former Minister signed off on the transfer but then closed her eyes to how the funds were spent, requesting then President Goodluck Jonathan to directly demand accountability from Mr. Dasuki, according to documents seen by this newspaper.

The funds were never appropriated before they were transferred, a clear violation of Nigeria’s fiscal responsibility law.

Mr. Dasuki, alongside the former governor of Sokoto State, Attahiru Bafarawa, and founder of DAAR communications, owners of Africa Independent Television and Raypower radio network, Raymond Dokpesi, are being investigated for their roles in the disbursement of $2.1 billion and N643 billion meant for the procurement of arms to fight the raging insurgency in Nigeria’s north east region.

The recovered Abacha loot are funds returned to the Nigerian government from monies stolen from the country’s treasury by Mr. Abacha.

The late dictator stole an estimated $5 billion from Nigeria and the money is being returned in tranches after agreements with countries such as Switzerland and the United States. It is believed that not less than $700 million has been repatriated from Switzerland alone. It is not clear how much has been recovered in total.

But a letter signed by Mrs Okonjo-Iweala, seen by PREMIUM TIMES, showed that 50 per cent of the recently recovered Abacha loot was allotted for “urgent security need” such as the procurement of arms and ammunition while the other half was set aside to be used for development purposes.

The letter, dated January 20, 2015, which was addressed to Mr Jonathan, revealed that the money was transferred following a January 12, 2015 request by the office of the NSA under Mr Dasuki for funds for the procurement of arms and ammunition as well as intelligence equipment.

“Please find a request by the National Security Adviser (NSA) for the transfer of $300 million and £5.5 million of the recovered Abacha funds to an ONSA [Office of the National Security Adviser] operations account,” the letter read.

“The NSA has explained that this is to enable the purchase of ammunition, security, and other intelligence equipment for the security agencies in order to enable them fully confront the ongoing Boko Haram threat.

“His request is sequel to the meeting you chaired with the committee on the use of recovered funds where the decision was made that recovered Abacha funds would be split 50-50 between urgent security needs to confront Boko Haram and development need (including a portion for the Future Generations window of the Sovereign Wealth Fund),” Mrs Okojo-Iweala wrote.

She added that the letter was to seek Mr Jonathan’s approval for the funds to be disbursed to the ONSA.

However, instead of insisting on overseeing how the disbursed funds were spent as the country’s chief financial officer, she abdicated her responsibility, saying she expected Mr Dasuki to account directly to Mr Jonathan.

“So, by Dasuki’s letter, he has also confirmed that Okonjo-Iweala is privy to spending money never appropriated and therefore criminal, and that cash were being moved contrary to the money laundering act. Just using Dasuki’s own defence, you can see a case of conspiracy has been established between Dasuki, Okonjo-Iweala and all those involved in that transaction,”


https://www.premiumtimesng.com/news/headlines/194870-how-jonathan-okonjo-iweala-illegally-diverted-n61-4-billion-abacha-loot-to-nsa-sambo-dasuki.html

NGpatriot:
[s][/s]



The topic is about the useless borrowing to pay salary paper economist so keep quiet if you have nothing intelligent to talk about..