Congratulations to him. The people of Imo have spoken and their will effected.

Hope they can walk the talk because the very airlines that will bring in those investors are still being owed.

So it boils down to a gbese cycle. Aramco brings in dollars and it is used to settle Qatar Air. Unsustainable.

What we need is a solid policy for long term export earnings. And this is only possible by 1.WE 2.MAKING 3.STUFF. In a nutshell.

WE. Means that the fear of repatriation, capital flight doesn't exist. We keep what we earn. Investment stabiliity.

MAKING. Means we control the factors of production which makes for a better spread of resulting wealth creation.

STUFF: Like the old farmer saying. 'He can never go hungry'. Even if he cannot sell.

Foreign investment is good, internal productivity is better, it is the anchor of sustainable economic progress and if it geared towards import substitution or pure foreign exchange earnings then development is sure.

This government MUST find a way to get Nigeria moving towards a proper productive economy and it stars by a business orientation within government. Policies, programmes and expenditure that are 'business like'.

Now sit back and imagine all government has, is and intemds to spend money on and think which one is business like.

All these reports that continue to strip the CBN naked in broad daylight sef.

We know the CBN is seriously handicapped but the signs are there that they know what they ought to do, just that the government is not helping by policies to ease the pressure on the naira by cutting demand.

I repeat again.
This government since inception has not done anything concrete to either gain this country more FX or cut the present demand.

If it has the markets will have picked the signals and began to act accordingly l.

Crisis news every day. Planned maintenance usually comes with planned build up of reserves in countries where people think.

I won't be surprised that those that buy the stuff abroad will not be affected but for us down here it is one tsunami after another.

The Judiciary needs to raise its game to make this a reality and other institutions of governance need to act responsibly.

Good. Havertz off.
Doesn't contribute anything to this team.
They just want to extract some of that transfer fee mileage from his legs before ejecting hm.
Big market mistake.

Even if he was a ballot box snatcher and the soldiers were responsible, what part of the law says he should be shot to death.

Instead of reforming institutions, evolving systems to prevent these things from happening and generally learning to live decently we rather have a vicious cycle of violence and death from which nothing is learnt, after which nothing improves.

It appears he has not seen the pictures of some fellows caught by the security forces with a bag full of money and shot gun ammo.
Perhaps for game hunting.
Once more. Leaders completely out of touch with reality.
Feeding fat on the feudal systems they run to strip the people of their dignity.
Just look at the poverty that surrounds them as they sit to vote at the polls.
The real things they should be wary of and humbly circumspect about.

They now recognize the damage politics and politicians have done to that institution over the years particularly the past two regimes. Corroding their ability to be the proper, go to economic umpire.

I am sure the complete failure of the Emefiele led currency change crusade shocked them and showed the stark reality that monetary power had been transmitted, lost, capitulated to the black economy and that the CBN's monetary policy was practically worth less than the paper it was written on.

However kudos to the present management for trying to claw back some virtue. This move is commendable and if anyone of them is found hobnobbing with politicians, such should be immediately flushed out.

The CBN is supposed to be a referee in the contest to have the economy of this country alive and kicking. It is not a policy implementer of government neither should it involve itself in farming, road construction or college scholarships like we have shockingly witnessed over recent years. It is a referee, period.

This means that it should be bold to stand up even to the government and show them the yellow card whenever they move to endanger the economy of this country no matter how well intended their moves are. Completely apolitical.

For no matter how your bank manager likes you in person or how valuable our company is to the bank, the bank will not compromise its ethics or change its rules just to suit you. When you err, you will be the first to know. It is in your interest. Same for the CBN to Nigeria.

The Central Bank Manager that stood up to Idi Amin and called his nation's currency worse than toilet paper was infamously taken out by Amin's goons and 'shown what was done to sh..' It was not until 1987 that the Ugandan economy begin to recover, 8 long years after Amin fled.

Experts at winning elections.
Failures at governance.
Regressing nation since 1999.
See them everywhere struggling, fighting to further impoverish their people who cheer them on.

gidgiddy:


I thought the Nigerian Police and Army were intended to be positioned throughout Nigeria. Were they set up for nothing?

The Federal government that insists it holds the exclusive franchise to law and order should be held accountable for lawlessness and disorder anywhere it arises, simple.

Responsibility is synonymous with accountability.
If you tell the people they cannot secure themselves, cannot offer self help, cannot set up their rules of engagement, then they will call you out if they become victims.

If the Federal government knows it cannot do the job, then it should pass the necessary laws to divest from security. Because the services it offers presently are just sketchy at best. lives are being lost needlessly.

Department of Homeland Security the closest Federal body to ours has a total of 240,000 staff, while the State of California alone has a total of 148,000 policemen employed to effect the law. If they depended on the US government they will probably have no more than 30 or 40,000.

Nigerians should wake up.

Na so.
Referees's whistle has been stolen before the game starts....
That is how we roll in Nigeria.
The Negro has a hard time cooking up a viable society.
He simply cannot make anything work decently.

smileyoo:
The basic duty of any government worldwide is for the protection of lives and properties of the citizens, any government that failed in this aspect has lost the confidence of the people that they govern, therefore they had lost the right of governance.
every crime committed without any consequences to the criminals, only served as an incentive for future crimes to be committed by the criminals.
every attack on a farmer and farming is sadly an attack on the food security of the nation, i don't know why this APC government is not given this issue the seriousness it deserves.

It is not about the government, but the people that put them there. The people that employ them without a work plan, employed them at the polls without a clear mandate to solve specific problems.

Ask the folks of that community. They come out and dance when politicians visit them to campaign, they troop out massively to vote in people who are only interested in their personal luxuries.

It is the people that are in error. They don't know how to work out their salvation through the instrument of democracy, period.
And this is the case throughout Nigeria.
A nation that continues to change government, electing leader after leader but of no effect to them at the grassroots.

If my car was faulty and I took it from one auto mechanic to the other without solution, who is in error if the car is grounded, me of course.
It is either I learn how to fix it, or learn where to get it fixed. One sure thing is 'to learn'.

Democracy is a cerebral thing just like cooking, building, driving, painting, any profession or vocation. It has to be learnt and not just operated mindlessly. But look at our society today. Folks don't even know why they elect leadership thoughtless of how to make, how to operate leadership to achieve what they want.

From Mr. Tinubu to the councillor in the ward where those bandits operate, none of them is at the control of the people that elected them. They are just doing whatever they like, whatever they think the people deserve. Who in this world runs his family, his business, his vocation, his life anyhow like that.

People should stop disturbing us with this.
For two decades we have advocated for the establishment of State police and Local government police as the direct solution to bringing law and order to the grassroots like in every nation with our demographics.
By now the people who are at the sharp end of the stick should have been vocal in demanding this and looking to elect leaders who will effect this.
But like most Nigerians they choose to be indolent and ignorant about the quality of their lives and so continue to suffer what they tolerate.
A people that just cannot use the so called democracy they claim to practice to better their lives.

The fact that he can come out to say that shows the level of distrust the institution he leads has fallen into.

Trust that he and his colleagues will sweat to regain over many years of piety and sacrifice.

Is Uzoho going to play.... if he is then i'm not interested.
The chap will manage to bring even a shot going out into his net...... yes, I'm that cynical.

And the Harry Maguire wannabe should be watched closely.... and his phone tapped for contacts from those Asian betting syndicates who must be excited by that revelation.

That is very responsible and respectable of the governor to do that.
It changes everything and I hope will douse the tension substantially to permit proper dialogue on all the matters in dispute.
The governor has taken the moral high ground here.

In order to defend anything (unfortunately to their own hurt) I can see folks here already arrogating enormous, over the top powers to the Legislature and by so doing 'belittling' their own President. That he cannot do anything about how government resources are spent.

So what happened to all the so called 'Executive' powers. The powers by which gasoline subsidies were removed without the approval of the legislature.... the powers by which judicial pronouncements are disobeyed....

Some even suggest he may be impeached.... because he will not allow a legislator to buy a 160 million naira automobile.... see how low some citizens have sunk.....sad.

Where on this earth or in this country will a legislator stand if the government and the people stand together and say NO.

But we are where we are today because everyone, government and the people have agreed that Nigeria must be mismanaged.

DeOTR:

Sense is far from you. I pity you if your own future is at the mercies of Abuja politicians. Sorry, I decide my own destiny.
So in your stupidity, you think the President decides how the NASS spends their own budgetary allocations?
He even said "if the President is not buying the idea".
No be when the NASS sell the idea to you?
Obi still thinks it's the state settings where he can decide not to hold local government election for 8 years.

The are are a million ways the President can stop it of he so wishes. If he has the moral capacity and will to do so.

Just instruct banks through the CBN not to honour such invoices. And if the vehicles are already inbound instruct the Customs Service not to clear them, period.

Force them to buy local, in naira.
But it can only take a President that stands on a moral high ground and is himself walking the talk of prudence or :buy Nigeria'.

But when Mr. Ptesident intends to spend lavishly on himself, family and friends then the cycle of avarice continues.

As a matter of fact it is the NA that fights today to have a wasteful yacht expunged from the national ledger, what a mess.

Failure of moral leadership everywhere you look. No one cares.

If Mr. President says 'no more!!' then it will take a gutsy legislature to do otherwise and then the court of public opinion will certainly bury them. On this matter leadership is everything.

Happy he is coming out strongly to clarify things and totally condemn what amounts to the theft of our collective patrimony.

For it is only in a third world fiefdom that one can see such crass ostentatiousness in the midst of crippling poverty.

It is unimaginable that Nigeria should permit such expenditure on items of administration when those in tiers below them can hardly afford to transport themselves to work on account of the cost of living crises they should be solving.

It is like a man goes to the doctor to treat malaria and his clinic is filthy, full of mosquitos. How come any sane person will support this.

The other day on this forum a man was lamenting that his boss pays half salary yet buys a new car and everyone in unism and without exception condemned it as wicked.

But when it comes to politicians that offer practically nothing some see it as acceptable?? Is that not madness?

Ha.....

meum:
Presidential yacht Dey am abi E no Dey?

7bllion for renovation of house for Oga & him second Dey for the budget abi e no Dey?

1.5billion for purchase of official cars for madam dey the budget abi E no Dey am?

Which one be lie for dia?

Nigerians are suffering yet you guys are spending recklessly. Wetin do that house wey una want use 7billion renovate? Why we go spend 1.7 billion on top motor for Madam? Even if una want spend try spend on wetin go make the suffer reduce no be to buy motor for madam like say she no get motor or renovate house for amount wey fit build the same house. Wetin do the house sef?

The people should continue to hammer on the points stated above,.the misuse of national resources and I am so glad it has become a topic of political discourse.

If other political leaders do not speak up and vocally about these matters the waste and profligacy will only get worse.

Remember how the past regime started with a public show Lipton tea and satchet milk for breakfast only to end up giving out multi million dollar foreign exchange round tripping contracts to family and friends that devastated the CBN.

That is what you get with passivity and acquiesce. The issues only get worse. This government ia not even hiding it's profligacy at dawn. So you can imagine what the situation will be when the rats have become accostomed to the kitchen.

Holding government to honesty and to account is a full time job everywhere democracy actually works for the good of the nation that practices it objectively.

But the CBN Governor has done well so far, I suppose with the tools at his disposal.
Can he/they do more? Sure but it could have been a lot, a lot worse.

Just hope Sir Alex no longer watches this team..... they can send him to the ER.....

Na waoh.
United ravaged.

But what I don't understand.
Didn't United watch what Spurs played even after going down to 9 men against Chelsea.

At least if you are going down, going to lose, go down guns blazing.
Go down fighting with courage.
What is all this lax, time wasting, cowardly, lazy arse football against a B team that has no hope of qualifying.

This club is a shadow of itself.
Miles behind its glory years.

taylor89:
Thats what I keep saying



Any day Tinubu do him tenure finish all these ones asss licking him here will also tell him the truth

90% APC supporters on Nairaland suddenly blamed Buhari for crippling economy

Same Buhari they praised

That is the simple reason why this country is where it is.
THe people's inability to be objective in issues concerning the way they are governed.

Magnoliaa:


Obi never made such a statement, sir. This is a misrepresentation of what he said.

Okay, then the next thing is to escalate the situation.
Let Nigerians begin to raise the matter in public fora if as you say someone is deliberately trying to mislead the public for whatever clandestine reason.
At the end of the day advocacy is the only tool of true change and liberty.
The Labour party should double down on this matter.

GoodGovernance:
This is very wicked journalism.

The full video actually indicated that Peter Obi condemned it!

Fine.
Now make a case of it.
Let the issue be escalated and brought to the front and centre of public opinion.
That is how to get government attention and issues sorted.

What is he saying.
That it is alright to purchase billions of naira worth of vehicles every four or eight years in a sunken economy to do 'administrative work'.
Then what will he define as the cost of governance crises befuddling Nigeria.
Excusing anything at odds with the reality on ground is accepting it, supporting it and defending it, period.

This country cannot continue this way.
We did not get here by mistake but by the few pilfering the resources of the many for their comfort and convenience.
Even if Nigeria by any stretch of the imagination gets better, it only means the wastage will only escalate.

Today Federal Ministers rent Executive jets to go about their duties. In 1999 this was not heard of. They all flew commercial.
It shows things are getting worse not better. The waste is rising, recurrent expenditure almost 100 percent of non deficit budgeting.
How come.

If Nigeria was getting any better then additional administrative costs can be excused but no.
The worse the economy the more comfortable they make themselves and this is why they are completely out of touch with what the man on the street feels.

If Nigerians cannot wake them up then this country cannot be fixed.
This is absolutely disappointing from the so called 'Main Opposition' and the person of the champion of frugality and right sizing of government.

gabicon:
It is increasingly annoying that an individual who wanted to occupy the number 2 citizen seat in our country can be this negative of the likelihood of progress of the country. It shows his character.

Why should we expect more from a man that brought only one value to Obi/Datti ticket which is he is a northerner, if you disagree, name one northerner state he was able to win for the ticket? Even in his Zaria home constituency he could only deliver 3% of the total votes, coming a distant 4th. Peter obi did the hard work, Datti just comes to sound intellectual. Other VP candidates from the 2 top political parties delivered their geopolitical zones, what did oga deliver?

This is exactly what the APC did in 2014/15.
Seems like you folks have all forgotten.
Even if you cannot access past mass media, just scroll back on this forum.
Yesterday's politics is today's negativity according to you.
It is okay to be terribly partisan.
It is better to be circumspect.
We warned you guys back then.
It was the APC that started the so called 'politics of bitterness'.

Once again.
Just like the Ahmed Datti interview, this information will be misunderstood, particularly as headlined.

'Save' in this context does not mean value has been retained.
It simply means more has not been lost.

These are the kind of statements, putrid carcasses vultures on both sides of the political divide will love to feast over, spinning it to suit their defective narratives.

All that has happened is that the rot has slowed.
The patient remains on life support.
This is in itself a major victory.

I don't think there is anything wrong with the Fitch data.
Just that Ahmed Datti is not reading it properly.
Both parties are right.

When you have double digit inflation and single digit growth it simply means a worsening economy and this is what impacts on the man on the street.

In a nutshell, if a man earned N10,000 in January 2023, by January 2024 the real value of such amount with a 20 percent inflation is effectively -N2,000. If growth amounts to 5 percent then that figure expands by N500 giving a nominal balance of -N1500 or N8,500 effectively in his pocket. His situation is effectively worse.

So one can celebrate the fact that by the Fitch data the slide in the cost of living will ease slightly next year, but in proper context a slide is a slide. There is no real progress until the gap between growth and inflation narrows substantially. Double digit inflation remains the ingredients for mass poverty.

So it is up to government to look at that basic binary data with a view to merging them.
This should be the yearning of the average citizen and the yardstick by which they measure the success or otherwise of this government.
Such is what happens all over the world.