₦airaland Forum

SPINA101:
You drink water with goat! Seriously no different between an abokì man with a goat because u guys act the same way Y complain?

Tell them abeg.

Wetin concern me?

Boo Hoo

Expensive and poor internet service

The incoming rivers governor, I hail you baba.

Rivers is sure

Nonsense

OkuDiOver1:
speak for yourself biko. Igbos hate him ke. We love him. He is my governor and he will continue till 2019. Pdp is dead and buried in imo state.

Which Igbos love him? You must be deluded!

Delusions. This time around, there will be 4 million votes from Kano alone.

Economies are properly managed by the central bank of Nigeria and not the minister of finance.
Oby will be a disaster.

Abagworo:
What has Fayose done for Yorubas? I believe he is rather a nuisance rigged into power. Okorocha is a man loved by his people and riding on his popularity amongst the poor masses instead of compromised elite.

What has okorocha done for the Igbos? Nobody loves Okorocha again, he's now a nuisance. Igbos are tired of his Buhari and northern/muslim âss licking. He's a traitor and we no longer need him as a governor in Imo state.

If Buhari abandons the YouWin project, then he'll be shooting himself in the foot.

Okorocha is to Igbos what Fayose is to Yorubas as at today.

You're right

Honestly, even as a GEJ supporter, I won't trust GEJ with anything Nigerian politics.
He's a poor excuse for a politician. The future belongs to people like Akpabio (Fayose and Wike).

The truth is that Buhari is bound to fail, in other words, he won't "perform" better than Goodluck (who is perceived to be a failed president).

It is impossible for a new president to make any meaningful impact in the first four years. Obasanjo, couldn't, Yar'Adua couldn't and Goodluck couldn't.

The problem is that these presidents have only three years to perform before proper judgements and assessments are made.

Buhari has only three years to perform. The 2015 budget has not been passed and we are in April.

Nigerians are typically very impatient people, and after two years if the administration of Buhari has not achieved meaningful, then there'll be a serious call for his sack.

Buhari's failure within the next four years will cement my belief that it is impossible for Nigeria to have a performing president.

Delusions.
Nigeria cannot be super power with the current type of economic, governmental and socio-political systems and structures that runs in the country.
Lets stop deceiving ourselves.

omonnakoda:
No we are talking of the Federal Government Finances which re quite different form the state.The sttes are entitled to demand their money but the FG Was running a budget with a $70 benchmark so what that means is anything over the benchmark shoud be saved on the FG side while the states collected their. Where is the FG share. State cannot FORCE the FG to spend their share if the FG wants to save. Like I said she ran a deficit budget meaning they not only spent it all but even borrowed more!!!
What happened well the breeze has blown and we have seen the fowl's whatnots. We can now see that Obasanjo is the one who deserves credit for the debt repayment etc as borne out by SOludo's critique of NOI recently.
The state governments can only demnd their share they cannot make the FG spend what was not budgeted but that is exactly what happened.Her regime was marked by a lack of transprency and an asymmetry of information.Government should be open with information but they were not.
What do you mean by "restructured" that is just a word.
You mention IGR have you got any data? again just words. She was gv=giving exemption after exemption costing government money. She has been a disaster. When you say she has done well . What is the IMPACT on the lives of Nigerians.Unemployment is at a record level. I agree with everything Soludo said about her.She has been a catastrophe

Replying you will be an utter waste of my precious time.

Abokkis of course. What do you expect from grossly uneducated human species?

asha80:
then I pity rivers state

No need to pity us. We like ourselves

asha80:
Op never pray for a wike governorship in rivers if you are a non indigene

Wike is already governor. Even Amaechi knowss that.

I wish 70 percent of Nigerians were atheist.

4Play:
I usually don't engage with the Nairaland naifs due to lack of time but I thought I spare some time today. You have not only spouted idiotic comments, you are now uttering downright falsehoods. NOI has little to do with foreign reserves as this is managed by the CBN. The Finance Minister has little or no operational control over the actions of the CBN governor. But to illustrate how you are symptomatic of the qunitessential Nigerian ignoramus, even using your moronic metric of assessing the Finance Minister's impact by reference to foreign reserves, NOI still passes with flying colours.

NOI was first appointed FM in July 2003, at the time foreign reserves were $7.6bn, and she left office in June 2006 when reserves stood at $36.5bn. An increase of $28.9bn. See source, at page 17: http://www.bmsa.us/admin/uploads/s0mYKb.pdf

She returned in July 2011 when reserves stood at $31.7bn and right now reserves are at $29.7bn, a fall of $2bn. Sources here: http://allafrica.com/stories/201107010445.html & [url]http://www.cenbank.org/IntOps/Reserve.asp?MoveDate=4/3/2015%207:08:27%20AM[/url]

In effect, her 2 tenures in office have seen a net accumulation of $26.9 billion dollars in reserves. So by your own metric, admittedly an economically illiterate one, NOI has been a success as far as Nigeria's reserves position is concerned!

You talked about paying off debt, are you talking about NOI's debt relief under OBJ? If you want to make a political argument that OBJ was better than GEJ, that's entirely different. I prefer OBJ to GEJ myself, but to spout this odious dross that NOI is incompetent beggars belief.

Just another word on reserves, what matters is the rate of change not the absolute price of crude oil. When prices increase significantly, reserves increase as well. The reason why reserves went up significantly between 2003 and 2008 is because of the huge leap in oil prices, OPEC benchmark price went from $28.1 per barrel in 2003 when NOI was appointed to $61 in 2006 when she left, a more than 100% increase. Prices were $107.46 when she was reappointed in 2011 and are now $49.22 - See source here: http://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/

As for the subsidy brouhaha, I will leave that for another day. What should be noted is that anyone who thinks Nigeria's oil subsidy was only 300bn Naira before she was appointed and suddenly leapt to 1.3 trillion Naira is hopelessly naive. Even more laughably, that 1.3 trillion Naira figure you cite was already news on the 4th of July 2011, NOI became minister on the 11th of July 2011


- See source: http://www.vanguardngr.com/2011/07/fuel-subsidy-gulps-n1-3-trillion-in-2010/#sthash.edABpqwn.dpuf

Exactly what I'm telling these ignorant people on this forum.

omonnakoda:
Well we can see governments can't pay workers now that oil prices have crashed and government has no savings and if they tried to borrow now it would be more expensive. If workers are not getting paid they are not spending I would guess the impact of that on aggregate demand and growth would be obvious to any rational mind. Finally dwindling reserves means weakening of the naira, with rising prices in our import dependent economy. Again rising prices for unpaid workers is not quite a recipe for economic boom

You should remember that it was under the administration of Okonjo Iweala in Obasanjo's government that our excess crude and foreign reserves shot up.
So what changed?
Have you ever asked why the federal government couldn't save much when crude prices were high? Did you know that it was state governments that demanded that savings in the ECA be shared among the three levels of government?
Blaming only Okonjo Iweala for the poor management of our foreign reserves reeks of ignorance. It is the central bank that manages our foreign reserves and the primary blame for poor mismanagement goes to the CBN governor and not the minister of finance.
States governors and commissioners of finance should be blamed for the mismanagement of their state revenues.
Under Okonjo, our economy has been restructured, various sectors of the economy have been properly assessed and valued.
Our IGR has also increased immensely.
The woman has done very well.

omonnakoda:
Rubbish

You're calling Aganga rubbish? SMH for you.

omonnakoda:
Her Deficit budget strategy and failure to save while oil prices were high.Her renewed borrowing as well

And how did they negatively impact the economy?

Alphonsocapone:
I dont understand why u keep calling NOI a better economist while her policies has almost dwindled nigerias economy.

Be specific. Which of her policies are dwindling the economy and how?

okosodo:
What will be the benefit if an ibo man becomes a senate president

Absolutely nothing! There is no gain whatsoever if an igbo man is senate president or even vice president.

Rochas the abokì you can go and die! You are leaving the imo state government house next week.

Delusions.
How can you be world power with the heavy tribalism, the quota system, the poverty, the illiteracy and ignorance, the insecurity etc

I don't see Nigeria, with our current flawed governmental and socio political structures becoming anything close to a world power in the next 100 years.

There's nothing he can do. Its now in the hands of private investors. He can only build a better transmission network