God bless you. People clamouring for the sales of our national assets are same people who bought power plants and couldn't improve power even at double tarrif. The other productive assets is what they now after and when they get it gas of N3,200 per cylinder will be double (N6,400) its price because our weak govt can't regulate their profits. I suggest the govt seats up in managing the assets like other nations do, and borrows against the profit these assets are generating, then pay back the debt gradually. After repayment of debt I can guaranty you the assets will still be alive and generating huge profits.
cuteboy2: As a general policy thrust, you very right. You say Nigerians should start thinking of alternative exports. Basically you mean, we should "start thinking about" diversifying our economy. I don't believe "thinking" is the issue. We have been "thinking" about diversifying the economy since the regime of Gowon, in the 70's.
What is lacking is a sustained economic framework, policies and rigorous implementation to make it happen.
Don't worry Buhari and his govt is "thinking" about it. Adesoun and Lai Mohammed (the economic engine room of Buhari govt) are also mouthing it. Yet there is no cogent implementation framework to make it happen. Go and look at all the vehicles in the President's, Governors, National Assembly fleet. DO you see any vehicle assembled in Nigeria?
Check out the furniture in Aso Rock, the foods consumed in the various government houses, the stationaries, etc. Are they made or even assembled in-country?
Where does your President run to for medical check-up, or when he has common ear infection? Is it not London? And they In May 2019, the President will tell you the result of his thought.
Kpele. Just wait, u hear?
It takes money to make money any action not executed 4-5 years ago can't be executed now. Your focus is 2019 so no need trying to explain further to you.
While the usual suspects come to do their part I want to point out the fact any economic challenge faced today is largely cause by mismanagement and dependence on oil. Most people here are only interested in heaping blame on Buhari and barely understand the extent to which policies can influence a capital-less system like Buhari inherited.
yanabasee: This is how Dangote advised the Koggi government to sell off its cement factory and now koggi's internally generated revenue can't pay state civil servants....
Why can't the FG invoke more funds in rebranding these sectors and JVNs?
This move is to enrich the already rich politicians who will battle to buy off the JVN and NLGN..
So correct! Why not borrow and payoff the debt gradually with the proceeds from the assets. After finishing the payment the assets will still be running and generating employement & profit.
Nigerians are now thinking like black South Africans who initiated xenophobic attacks. Where do you want MTN to move their money to? May be the senate wants them to move it out when dollar hits N1000.
ivandragon: I always maintain that foreign reserves balance is seriously overrated, its important, but overrated.
the west has conditioned us to believe that the more money we save WITH them, the better for our economy.
as mighty as the US economy is, it has less than $300m in reserve.
the main challenge Nigeria has with development is the way it is structured geopolitically & economically. as long as states are not fully empowered to harness their own resources & bear responsibilities for income generation & development, they will continue to depend on free handouts from FG.
Copy n Paste mentality. I hate when people consult textbook like oracle.
After contracting Alfas, Imams, 'Pastors, and all kinds of prayer warriors with arms fund and it didn't work they want us takeover for free. PDP should die ASAP. They are a waste of Ink & MegaByte right now.
I laugh in Naira defence. Nigerians produce next to nothing in terms of quantity and quality so we can't earn dollar forex to satisfy our unquenchable apetite for foreign goods. The habit of flooding fx market with cheap dollar by CBN in a bid to keep its price down A.K.A. Defending the Naira isn't sustainable any longer as petrodollar isn't flowing in in excess for now. Nigerians should start thinking of alternative exports.
Nigerians are now talking like black South Africans who initiated xenophobic attacks. Where do you want MTN to move their money to? May be he wants the them to move it out when dollar hits N1000.
Dutchboy: Dangote is hoping to replicate the colonisation at the National level what Tinubu was able to do the state level when he acquires Nigeria Oil Assets at rock bottom prices. The viable assets NLNG and Joint Venture are managed effiently and effectively by the OICs like Shell,Chevron,ExxonMobil and AGIP. Dangote wants to finally corner our National Assets through his collaborator Saraki and be collecting billion of dollars for doing nothing because the international oil companies will do all the work. These are the people Sanusi described as vested interests and rent seekers
Tinubu took over control of tax collections across these states with the machinery of his private agency - Alpha-Beta Consulting. If what we hear is true: that Tinubu's Alpha-Beta makes roughly 5 billion naira monthly from Lagos state government alone through collection of tax from an estimated N32 billion IGR based on the commison agreement signed.He also got his business partner Lebanese Chaugoury who was convicted in Switzerland in 2002 for laundering Abacha billionions,HI-TECH construction,the contracts to collect tolls from Lagos gullible docile sheeps at three locations. http://saharareporters.com/2013/02/03/lagos-state-finances-and-alpha-beta-ltd-seyi-olu-awofeso
1. The 1,000 hectares of land valued at about N75Billion located at Lakowe near Abijo at Ibeju- Lekki Local Government and given to Lekki concession company [LCC] which is partly-owned by Tinubu and Fashola and being developed as golf course and housing estate by Assets and Resource Management Ltd [ARM] as ADIVA project.
2. The prime land of 157 hectares with 2.5km of Atlantic beachfront valued at about N10Billion. READ ALSO: Officials of Indorama, Intels, insist Wike duped them over repair of East/West Road
3. He paid $20Million [N4.4Billion] to Ibukun Fakeye to commence the project in late 2006. Fashola was said to have released additional funding for this project when he was in power as Lagos State Governor.
4. The 14 hectares Parkview Ikoyi Estate foreshore land reclaimed by Lagos State Government is also believed to be owned by Ahmed Bola Tinubu and its valued at N3Billion.
5. The annex of the Lagos State Guest House in Asokoro, Abuja bought by the State Government in 2006 for N450Million to protect the main house from security breach. Shortly after he left office, the property was transferred to him under the Lagos State pension plan as part of his pension as former governor of Lagos State.
6. 4, 0yinkan Abayomi [formerly Queens] Drive, Ikoyi; A 5- bedroom detached house on one acre of land which was originally the Lagos State Governor’s guest house since 1979 was acquired by Ahmed Bola Tinubu. The property valued at N450Million was signed and released to him by Fashola in 2007 shortly after Fashola assumed office.
7. Tinubu’s residence at 26Bourdillon Road, Ikoyi is said to worth over N1Billion which part of his net worth.
8. The 250-hectares of land valued at about N35Billion and strategically located at the Ajah junction on Lekki Road which was initially meant for a General Hospital for the people of Eti-Osa is now the property of Tinubu currently in the control of Trojan Estate Ltd, a company owned by Tinubu. The property is being developed as Royal Garden Housing Estate.
9. Tinubu also owns some first class luxury cars, one of them is G-Wagon said to worth N600 Million and built with bullet proof and bomb detector apparatus as well as surveillance cameras. READ ALSO: Self Promotion: Customs in massive de-ranking of officers
10. He also acquired for himself sophisticated private jet worth $60Million. One of the Tinubu’s private jet, Bombardier Challenger worth $60Million
The interior of the Tinubu’s Bombardier Challenger 11. The choice property at Lekki- Epe road on which he built the multi- billion naira Oriental HOTEL AND the extension of a multi storey car park beside it is said to worth N120Billion together with the hotel. Oriental HOTEL
12. A Multi-level recreation center by Mobil in Oniru Estate on Lekki-Epe Expressway jointly owned with ARM and Tunji Olowofe is said to worth N25Billion.
13. Another 3.8 hectare of land at the Lagos State Fisheries Office in Victoria Island valued N3Billion is also his property.
14. The Fishery Landing jetty at Badore [where the Ilubirin fishermen were to be relocated] valued at N500Million is another choice property of Mr Tinubu.
15. The entire Ogudu foreshore scheme valued at N5Billion. Adding to the Bola Ahmed Tinubu Net Worth.
16. The Ilubinrin housing estate [which used to house Lagos State civil servants and judges up till 200
Jonathan propagated this same message with N2.1B documentary and still failed. What exactly are you driving at here?
saintkash: haba...for over 5 months now we buy even as low as 138/ltr in kano.... only few stations esp major marketers dat sell at 145/ ltr while majority are on 140-142/ltr and few others 138-139/ltr.
I got about 12 litres for N1700 Three days ago. Their pump read N142 also. By my estimate It was accurately metered.
They say we shouldn't be talking about the past so I can't wait for EFCC to official initiate the beginning of her end and help Nigerians get back to the future.
princemillla: This is no ss se matters, it's a national matter. Pls learn to input sensible comment on a post like this. And if you believe it's too high for u to assimilate, then simply keep shut and flip away quietly
You don't ever force private citizens to spend or change their currency. If tommorow they wake up and decide they need dollars, how do the get dollar to use? You mean they will now go into the fx market and start buying what they were forced to sell or convert at a potentially higher rate. If the FG can guarantee them stable dollar rate, fine, but in the situation we are the govt doesn't have what it takes to influence and thus guaranty a stable dollar rate. It may interest you to know that before now the govt was subsidizing the dollar in a bid to make it stable and thus inspire confidence.
idupaul: This us what is called lunatics economics ...Are you advising the govt confiscate people's dorm accounts and spend it paying an over bloated civil service and political class..
Somebody should let him know that domiciliary account has its place in proper economic set up.
mrvitalis: I know what am about to say is not politically correct.. But one really don't need to be politically correct all the time..
We have over $20bn in Nigeria banks and this money is dormant ... Why don't we put a law banning Nigerians from having domiciliary account for the next 36 months ... Placing an order for the dollars to be converted to naira within the next 18 months.. This will lead to increased dollars supply in the next 18 months, crash the price of dollars, help government build reserves and reduce price of goods.. . This can save our economy
The article was clearly cooked to score cheap political points. How can any serious organisation not know Fulani herdsmen menace is well represented in all fertile west african nations? He gave himself up as a paid hack with that flaw.
hemartins: Boko haram are errand boys to Isis. No comparison.
banmee: Why wouldn't they be deadly when an incompetent, poor trained, poorly equipped army is fighting them. Let them go try it with a country in Europe and America and we'll see if they can attack with impunity as they do in Nigeria.
If BH wasn't number 1 when they were killing hundres of people weekly and ISIS was in its infancy, i wonder why one hungry white drug addict who doesn't realize fulani herdsmen violence spreads accross west Africa will want Nigerian to take his ratings serious.
adekayo1234: Anyone who believes this shit can also believe that #1 will equal £1 tomorrow.... Bullshit
I suspect a paid propagandist is behind the rating. I say this because Fulani herdsmen violence aren't concentrated in Nigerias middle belt, it cuts well across west Africa. The rating appears to me as handwork of some extremely ignorant Nigerians.
Wallade: This episode of MPR, CRR and lending rate is interesting considering the dimensions of the Minister of Finance and CBN government.
The position of the minister and contrary action of the CBN government and MPR committee is a classical display of separation of powers. This is the beauty of democracy and the more reason we may need to rethink the idea of blaming Kemi Adeosun for every negative or wrong fiscal and monetary policy implemented by the federal government.
However, it also indicates the failure of consultations between the ministry of finance and CBN government, by extension as well, the MPR committee. There is a huge disconnect between the FG/ministry of finance and the CBN government. Though we know the MPR committee is mainly constituted by commercial bank management executives who are primarily capitalists, profits driven and selfish; the collective interest of the nation is secondary objective to the commercial banks management.
Going forward, the government should ensure the following: CBN governor, at the expiration of his tenure, is replaced by intellectually sound economists and finance expert with excellent leadership qualities; a person who has the interest of the nation as primary objective.
Stimulate the economy by injecting funds especially on capital projects. Identify the sectors of the economy that has the potential to create employment and wealth in short and long term, inject funds specially to stimulate and empower industries in those sectors.
Never consider the idea of increasing or reducing tax rates, instead focus on taxation drive to capture more eligible tax payers. You will be shocked at the level of tax evasion and avoidance perpetuated in this country.
Empower major revenue generation agencies of the government. Empower the agencies, improve and expand the capacity and human capital required to drive the agencies. Review the welfare and remuneration packages of the agencies to encourage the staff to shun corruption and graft practices and motivate the staff to deliver on the madantes and targets of the agencies. Deploy improved technology and computerization to improve efficiency. Identity the loop holes and avenues of government funds diversion in the system of those agencies and block the avenues and holes. The major agencies are NPA, NCS, FIRS and NIMASA.
Do more in the area of consultation with relevant agencies, bodies, government arms, CBN and private sector industries. Educate the public on efforts to improve the economy and the need for collective responsibility to achieve economic stability, growth and development.
Politics › Re: A Former Dictator Dredges Up Old Social Policies In Nigeria : The Economist by Standing5(m): 3:57pm On Sep 23, 2016
