₦airaland Forum

Mogidi:
@the emboldened, would Buhari appoint ministers considering they're "distractions"?

saintopus:
It will not be too long Buhari will be a thing of the past too.

Adminisher:
JONATHAN AND MADUEKWE WILL EVENTUALLY END UP IN PRISON. IF BUHARI DOES NOT DO IT ANOTHER GOVERNMENT WILL.

48noble:
[size=14pt]Mr. Buhari however said his government would not accept such a demand. [/size]

“They wanted us to release one of their leaders who is a strategic person in developing and making Improvised IEDs that is causing a lot of havoc in the country by blowing people in Churches, Mosques, market places, motor parks and other places,” Mr. Buhari said.

SeverusSnape:
Bad idea, That shouldn't be done. A bomb 'expert' is too dangerous to be let loose.

maestroferddi:
[s]I really don't blame you.
You have since cultivated this predilection for making idiotic and asinine comments.[/s]

For the record, no true Igboman goes cap in hand begging for appointments. We respect Buhari as the president of the country but it transcends the realm of commonsense to suggest that the Igbo nation nay intelligentsia would fall over themselves to curry the favours of a man who, to all intents and purposes, is a provincial president.

[s]We proved our mettle and then some over the Awolowos, the Ahmadu Bellos, the Danjumas, the Gowons and other manifest traducers of Igbo interest.

The Igbos are only demanding their constitutional rights. Buhari is the least of our problems... [/s]

Bevista:
Well said. It could easily boomerang into deeper economic crisis.

However, Restrictive Fiscal Policies in times of economic slowdown could also easily lead to an "Austerity Trap". In most developed economies, social spending increases during recessions. This helps increase the disposable income for households. This extra income will increase consumption and hence Aggregate Demand.

The problem in less developed countries is corruption and lack of institutional capacity to implement such spending. In these countries, most of the money will find its way into private pockets rather than the citizens.

4Play:
There are no free lunches in economics.You cannot defend a currency if you have insufficient foreign reserves. If you try to, you will either deplete your reserves or cause a huge divergence between the official and parallel exchange rates. A more recent and apt example was the Abacha era: 22 and 85 Naira to the dollar at the official and parallel markets respectively.

If the CBN persists in an Abacha style forex policy, forex will become scarce and the demand for forex in the official market will have to be rationed. This rationing will cause prices to go up as the previously imported goods can no longer be imported and as many importers source their forex from the parallel market. So the inflation and job losses will happen anyway. Abacha economics simply delays the inevitable, creates distortions and an attractive avenue for round tripping.

By allowing the market to set the exchange rate as has been recommended by JP Morgan, the increase in import costs curbs dollar demand naturally whilst making Nigeria an attractive destination for foreign investors as the cheaper Naira denominated assets prove a lure. It is by this means that equilibrium is achieved as the Naira finds it natural rate at a better level than would be the case if a ham-fisted attempt is made by the CBN to fix a level.

All this will be obvious in due course.

Whynotthetruth:
His monetary policy on liquidity(dollar policy)... which forced JP Morgan sanction and for which SME's(engine of every economy) are hurting now, downsizing, closing shop etc ...

Whynotthetruth:
BTW oil price reduced by about 50% average... so don't get it twisted plz...

Buhari isn't crucified because oil price collapsed but because he's destroying SME's and killing investments cum investors with negative policies...in all damaging the economy...

Whynotthetruth:
Roof shattering indeed ...Now did you read this;



So what's the issue?

Whynotthetruth:
Rawani ...what do you think?

Bobbystanley:
We all Know that election in Rivers State was free and fair.

Just that APC want to be in charge of at least one oil Rich State since PDP have occupied others.

They even had to disguise themselves as soldiers to go and Say that their was no election in Rivers State in the ongoing tribunal.

But they have failed.. Nyesom Ezenwo Wike (NEW) is the face of Rivers until 2023.

Even if another election is held today, PDP would defeat APC in Rivers State.

The oil Rich states are for PDP while APC owns the dry Lands.

hinwazaka:
I'd rather play golf than write a 3 page essay to someone who never attended a class of Eco 312. That would be equivalent to a physicist explaining the nature of quantum physics to a kindergarten student. You have to crawl before you leap. If you couldn't understand or see the relationship between SAP and the new stringent conditionalities implemented by the CBN, then why should I waste my time.

hinwazaka:
That's what Buhari and his finance minister told us in 84 about SAP. It was not until our economy crashed and we could no longer handle the depression, that IBB kicked him out and implemented a poorly altered form of the programme. As I said both you and the OP know nothing about economics. You and him just search the web and put out here disjointed views of some school of thought.

hinwazaka:
Do you even understand anything the OP wrote in this flimflam piece. The OP was simply jabbering about things he knows nothing about. Take for example the section that dealth with the JP Morgan' issue. The real concurrent reason for carrying out their threat was the poor feeders they were getting from this government.A directive they had issued out since January was not returned with a reply or a whiff of action. And you and the OP are here absolving the government of blame and claiming the action taken by the firm won't affect us. Don't worry, by the time you start eating breakfast at night your eyes will receive sight

ba7man:
So far no one has countered the points on this thread.

Symphony007:
do not do this! Do not defend the indefensible! If this government had any economic thoughts they would know that Nigerian does not have the luxury time! We are the largest economy in Africa for christ sake, that means a lot of responsibility. What did they do in their over 2 months transition period? What do you think a transition period is for? Do plan and hit the ground running on the first day in office to avoid any shock in the economic system. The president of the United states has a personal staff of over 2000 working in the white house and the eisenhower executive office building, not to talk of the thousands of other staffs in departments, agencies, etc but do you see them allowing office pile dust when a new government arrives? Goodluck jonathan as acting president and subsequently president had a lot of ministers in his cabinet who opposed him being president as vice when Yar adua was sick, chief among them was attorney general Micheal andoakan, but did he sack them in mass and left govt. In limbo? Pls, i'm tired! Nothing is will rave about on this forum will get to muhammadu buhari so he can do what he likes, my condolences lies with fellow Nigerians.

Symphony007:
utter rubbish! Essentially you are telling me that if you have a headache you cut off your head? Have you no heard of "walking and chewing gum"...you can't put all the machinery of government in place and still reform government? what sort of world do you think we live in? Investors have time for nonsense? Once they see unseriousness they run to the next alternative, of which there are many today both on and outside the continent. This month of uncertainty has lost nigeria trillions and for what? What is that major change in the structure of the Nigerian government before ministers are appointed and policy articulated?