₦airaland Forum

modath:
It's make or break time, if this doesn't revive the economy then deliverance is the next line of action.

This will not FIX all the problems with the economy

We still have deep structural problems, power, transports road etc and a system of govt than will lead to failure even with d best of intentions


After a year of experiments, using Nigerians as lab rats, hundreds have lost there jobs Buhari is finally listening

Like feyi said in ds article PMB is back in office a second time to LEARN economics

Hope he will EAR now when sound advice is given

Sons and daughters of APC top shot are employed in FIRS and CBN earning upwards of 200k

Nigerian youth are offered 23K N- power jobs

Nigerian youths, here d bitter truth APC or PDP they don't care about you, union against a common enemy

mikolo80:
now shall we begin

Now homosexual, son of a goat this my last back and forth with you

Cos I don't care how you or anyone else run Nigeria a falling state populated by un cultured animals, religious extremist and ISIS folks like u

Again I refuse to be your teacher, u should have learnt dt in school

But then again u are dullard, a fool your world starts and ends with your koran, can't see beyond it

Finally be sure to visit ISIS camps in malaysia after all ur ambition in life is 72 virgins LOL

When you get to hell, hoop up with your harlot mother see needs u to f**k her pussy

Burn in hell

mikolo80:
I said what's the difference.
That's a qsn genius
And I'm very sure Wo don't know
Hence your transparent attempt at bluster.
You don't have a case (if not you would have stated it)
Insult is all you've got. Nothing else.
Reminds me of orubebe.
All the gragra won't change nathing till you can convince majority
This latest outburst shows that you're failing at this badly

I don't need to convince you or any majority!

Frankly I don't care what you or any other incompetent folks in APC or PDP do with Nigeria

I don't know the difference between a parliamentary system and Presidential system?..see this hausa boi born in 1980

Am no illiterate like you, who can't cope in Harvard, Stanford or Oxford but runs off to one under d bridge school in Malaysia

You started the insults on the thread and did showed your ignorance

Now I guess u are back to you senses, cos u seem to have dropped d insults

I believe we have driven some sense into you by now

Have a nice life!

mikolo80:
SMH very very slowly
You can't even read.

Show me where I said Malaysia runs presidential system. slowpoke
Show me the first insult you bastard.

You foolishly said there not difference between a parliamentary system and Presidential system

Need I school you on this?

What a waste...

You have been wasting your corrupt bastards hausa parents money in Malaysia

mikolo80:
who will debate with an slowpoke

What!

I have been debating a dumb head illiterate. Who does not know Malaysia runs a parliamentary system with a Prime - Minster as head

They don't run a presidential system in Malaysia FOOL

You where d first to throw insults here, now u crying

Go read your books, empty head

mikolo80:
Malaysia has 4 million hectare of Palm oil worth about two trillion naira. Only goodness knows how much it makes with value-added. (soap, food additives etc)

How does railways concern states planting food and cash crops.

Is dangote using nepa? Yet states cannot build industrial estates ?
Only oil is in exclusive legislative list?
We sell oil 100 a barrel and oyinbo beer value 1000 dollars a barrel.

You foolishly ignore the opportunity to build refinery and earn 900 and instead focus on 100 lazy no investment dollars?

Do you know what ignorant means?
Can you fiNd it in dictionary or even google?
That's how handicapped you are?
Mentally handicapped and yet you think you sound knowledgeable but you sound retarded insulting someone who did not insult you.
I insulted someone who chose to insult me FIRST.
SO YOU CAN SEE THAT YOU ARE A BASTARD slowpoke FOOL.

Am very happy for Malaysia.

However Nigeria is not Malaysia, clearly we do not have parliamentary democracy with a federal constitutional monarchy as d case in Malaysia

Here its practically impossible for one man to hold such powers

Planting cash crops is not the only route to develop Singapore did it without planting much crops

Yes Dangota used NEPA and generators before he finally switched to generating his own power ( all ds have a huge cost implication)

I agree with you on point state govt are not imaginative or creative enough

Like I said u are d intellectual handicapped one here, u shamelessly throw Fashola's name around, if u must know he an advocate of True federalism

His efforts were continually sabotaged by d over bearing FG he partially succeed cos he has a large economy to leverage/ bargain with, unlike most other state

Your harlot mother certainly did not train you child, better face you studies in Malaysia.

NB: Homework 4 u : Go get d 1999 constitution and read

Read up on Tinube/ Fashola's tenune in Lagos

Study Federal structure in Germany, Canada and United States

Then u and I can have a debate

mikolo80:
so which part of the ''system ''should be blamed for this laziness

Ever heard of the exclusive list in the 1999 constitution
Power
Railways
Telecommunication
Mining etc are in d exclusives lists all this limits the states

I would have give the sections of d constitution, but hey make that your take home homework!

U are d ignorant one here throwing insults

NB: Stop shouting Fashola's name he is just one of the so many stars we have in SW, some it will be Ambode on ur lips

presidency:
The newly launched Jobs portal of the Federal Government "NPower.gov.ng," has recorded over 400,000 successful registrations since it opened for submissions at on Sunday, June 12, 2016, according to the Job Creation Unit in the Presidency.

“We have been very impressed by the enthusiastic response to the call for applications. As at noon on Monday June 13, only 36 hours after the launch of the portal, 403, 528 applicants had successfully registered on the site and were in the middle of completing the application process,” said Mr. Afolabi Imoukhede, Senior Special Assistant to the President on Job Creation.

“We are also very pleased that the registrations have been taking place without any hitches or system failures, considering the volume of response.”

All together the website has received over 35 million hits since Saturday midnight.

The Jobs Scheme, known as ‘N-Power’, is one of the five initiatives of the Social Investment Programmes of the Federal Government of Nigeria, described by President Mohammdu Buhari in his Democracy Day Speech as “by far the most ambitious social protection programme in our history.” A total sum of N500B has been provided for the programme in the 2016 Budget, an unprecedented development in Nigeria's budget history.

N-Power is designed to help young Nigerians acquire and develop life-long skills to become solution providers in their communities and to become players in the domestic and global markets.

It will provide employment opportunities for 500,000 graduates as teachers, agriculture extension advisers, healthcare assistants, and civic and adult education instructors in communities across Nigeria.

There will also be a pool of 100,000 software developers, hardware service professionals, animators, graphic artists, building services professionals, artisans and others.

Applications for the Scheme commenced on Sunday June 12 on the portal: www.npower.gov.ng, and will open until [insert date], after which screening and shortlisting will be carried out.

The Buhari presidency assures all Nigerians that this application process would not only be structurally robus, transparent and fair, the selection process that will follow would also be based on objective criteria that has nothing to do with party affiliations.

Unemployed Nigerians both graduate and non-graduates would be drawn from across the country on state by state basis in the final analysis.

Laolu Akande
Senior Special Assistant-Media & Publicity
In the Office of the Vice President
June 13, 2016

400K applications in just 36 hours!!

We have a monumental problem in this Nation. For me 23K jobs wouldn't solve it

We need to re- Train graduates for entrepreneurship, IT, constructions in Mass housing scheme, Transportation, small scale manufacturing etc

By the way how true is this:
500,000 Teachers’ Recruitment Portal Crashes On Day One | Sahara Reporters http:///234jItz

megainvest:
Of course. The volumes being smuggled out of the country have drastically reduced because the incentive has been removed.

According to globalpetrol prices.com Nigeria sill has one of the cheap pump price in the world

http://www.globalpetrolprices.com/gasoline_prices/

Thus smuggling is still very much attractive

This drop is largely due to changing consumer habits and poor state of d economy

Most states are owing salaries

mapet:
with your bad grammar, it will be overtly generous to ask you to be a teacher on the scheme

I know u are frustrated due to you lack of employment.

Hurry alone child and apply for N-power 23K a month will go along way in your life cos of d crushing poverty you and your family find yourselves

mapet:
with your bad grammar, it will be overtly generous to ask you to be a teacher on the scheme

This is so typical of APC and PDP nairaland, children personal attacks

U are d unemployed one here, d joke is on you go face that N-power teaching job, with no prospect for career growth and development

Son of a harlot, your life will forever be meaningless. U shall labour like an elephant and eat like an ant

Slave of slave

APC stawards have there kids in CBN
....Just say

While they ask other folks children to be teachers

Boring crap

State House clinc has a bigger budget than all teaching hospitals in Nigeria yet nairaland children in APC and PDP are not outraged!

modath:
.


No two ways about this, before we become another Angola or Venezuela.

This is devaluation!

Which should have been done last june

When some of us asked baba to devalue we where called agents of PDP same goes for subsidy removal

An economy is run, based on logic and not strong man ego

[b][/b]Price is up due to the canadian wild fires and disruptions in Nigerian not thanks to ND Avenges

By the way there was a new attack few hours ago

Niger Delta Avengers Says it Blew Up Chevron's Escravos Tank Farm Main Electricity Pipeline http:///1ViZB9H

989900:
CBN Hire: Like I said in the past, I DO NOT care about the CBN hire issue, because that is the least of the problems facing this country, and if you know the kind of rot going on in the CBN that is costing the country billions of dollars (I have written a good number of articles both here on Nairaland and on other platforms calling out many of the CBN's attrocities), the hire thing will be the least of your worries.
That said, there is little or nothing you. I, or anyone can do about favouritism in job hire, it happens almost everywhere . . . it shouldn't be so but it is not a theocracy -- even in a theocracy God still favours some people over others.
It didn't start with Buhari it won't end with him, neither do I have proof that Buhari ordered the CBN to hire those people - some of them were hired even before Buhari became the president. Mind you, folks without 'connection' get hired by the CBN too.

The CBN is not even a major employer of labour; how many can they hire? It is an injustice I care less about when other things are pressing . . . Nigeria is a work in progress, such things can get more transparent in the longer term.

Lai Moh'd: It is never wise to comment on a developing story that keeps changing . . . I read 3 versions of the same story in less than 3 hours, I'd be f00lish to say something about something that I can't verify or place a handle on . . . I try to have the closest to true facts behind my 'opinions'.

Alleged FX rackets: There are many allegations flying around, if you are expecting me to comment on unfounded gossips, you will have to wait for forever. OTOH, allegations or not, go through my articles and posts, I have been screaming from forever about the FX racket going between the CBN, banks, BDCs, and some companies and friends of CBN and government . . . I've called out the CBN governor for connivance and the President for docility about currency racketeering too many times on here, and over 6 other platforms.

My dear, you DO NOT know me, I have taken stands against my own mother vs friends, against my own mother vs relatives, against my relatives vs friends, against my friends vs neighbors . . . I might not always be right ATEOTD, but I have always made my decisions in the fairest way to the best of my ability/perception according to the info available to me at the time.

To suggest I blindly support the President (whom I have no personal relationship with) is a far cry from the truth, I support him on many of his decisions because my sense of logic says he is damn right, and I condemn him on some others . . . and I am not legally or morally bound to comment on every single issue either . . . these are simply my 'opinions'. I only want the best for the country, because that is best for us all individually.

It's a good thing our articles and comments are kept on here for a long time and anyone can go over them at will, I'll suggest you go over mine before stereotyping.

You want the best for Nigerian yet too timid to speak the truth, when it involves APC/PMB that hypocritical

You keep making excuses, as to why u will not condemn this wrongs going on under the watch of PMB

Am biased towards APC, but I condemn Lia mohammed, his letter was aimed at achieving a corrupt intent

CBN illegal hire is wrong and should be reversed

CBN Governor should be tried in court alongside Dasuki for obeying an illegal order for the GEJ. Now that's true justice!

How do we make progress as a nation then? Its not just happening now it happened in d past so let's just fold our hands and watch abi?

Before you and your friends here condemn misguided IPOD youth, bigot, trialist and corruption glorifying PDP youth LOOk into the mirror..you are not any better.

989900:
It will help if you can point out the part that I've been subjective.

PMB is not perfect, I've praised his successes and criticized his failures likewise.

What is your point again?

Am waiting for Criticism of:
CBN illegal hire
Lia mohammed's loan request ( which is against civil service financial regulation)
Alleged FX racket by a presidential spokesman
Etc

Blind loyality killed d failled GEJ presidency, u and ur friend are not doing PMB any good with such

U and others should be a progressive in the true sence of it

Thank you

modath:
: http://www.vanguardngr.com/2016/05/the-enemies-within/

Suddenly u are becoming a little more objectives

Now that's been progressive, loyalty to progressive ideals and thinking and not some BLIND loyalty to individuals

Keep it up

Could this sudden change of urs be due to PMB disappointing u and 98990 lately...LOLZ

AreaFada2:
My friend, you know it takes an intelligent person to recognise another intelligent person.

Have you ever seen an olodo supervising the dissertation of a genius?

Well fact is its prosible in Nigeria

Am olodo GEJ persided over Nigeria with brilliant nigerians helplessly looking

A less intelligent PMB is president over a superb brain, Professor Yemi Osinbajo

989900:
These things are shrouded in more than meets the eye.

The same reason lawmakers wanted to know why the over 20 companies, which were expected to commence construction within two years and full refining operations in four years, are yet to take off, even though their owners continue to enjoy tax breaks and import duty wavers plus crude allocations at at time.

The four national refineries gulped billions of Naira during Obasanjo's tenure for nothing . . . and there is more to that . . . well he had to sell them at the tail end of his tenure.

Excuses are failures alibi.

Unlike you who is not ready to speak against CBN illegal hire.
Am bold enough to say OBJ is no saint, corruption was the order of the day in his govt

OBJ was an hypocrite when it comes to corruption same with PBM ( but I will pick any of them over GEJ any time)

However he did lay a good foundation, which others leaders where to short sighed to see

[b][/b]

modath:
This is sound but..

1.How would the funds be administered?

2. Any distinction between that and 13%?

3. What about the constitutional ammendment that it would require

4. In a place where there is multi ethnicity, how would the inevitable land grabbing/communal clashes be solved (offshore)

I personally would love this, Gold and other minerals abound in SW......


*nostalgia about what Cocoa proceeds got SW before the black gold curse turned everybody into a nation of laggards*

1.How would the funds be administered?

The host communities create a trust fund, each family and household is identified and catered for this way.

In fact this all ready exist in ND ask any one working in oil and to tell u
2. Any distinction between that and 13%?
13% derivation goes to state, as oil producer state, compare to other nations with oil this is to small

What we need is true federalism, the American govt does not control oil found inside Texas

3. What about the constitutional ammendment that it would require

Yes a constitutional amendment is needed

4. In a place where there is multi ethnicity, how would the inevitable land grabbing/communal clashes be solved (offshore)

There where civility and education comes in...

NB some of u are call ur self progressive only in name, u are not ready for the bold ideas that will truly move Nigeria forward

That's why PMB took one year to remove subsidy (which cripples the economy)

I ear he finally what's to devalue now

989900:
Obasanjo is "hot in economics", but could not see the fundamental relevance of self-sustenance in locally refined petroleum products to an oil producing mono-economy population of over 160 million (at the time).

He issued over 20 new refinery licences with virtually none actually starting zilch.

We are paying for your failures old man, and Buhari is going to be the 'fall guy' if he does not get "hot in economics" ASAP.

"Hot in economics" ugh .

OBJ privatised the refineries, someone else with poor foresight reversed the sales

He licenced new refineries again someone else with poor foresight did not provide the right environment for this to take off

OBJ is not your problem. He has done his part

Like I told u once PMB tried to go against economic logic and he just fail

It will be sad if my dear APC fail, does to strong man logic and not strong economic logic

Strength without sense, strategic thinking and tactics is failure

989900:
1. I don't do party stuffs, but that doesn't mean I won't call out PDP or APC for their actions or in-actions.

2. I would have loved you answer how devaluation has helped us in the past: from 65 kobo to $1, and more recently, from N155 to 199?

3. What rate would you want the Naira devalued to?

4. Have you factored how that skews our foreign debts repayments against us.

5. Can anyone guarantee with the same oil prices or lower, the same racketeers and saboteurs won't play their hands, and the black market/official rate wide gap resurfacing?

By and large, the budget and direction is what the economy needs, the corruption in the system amplifies the wide margin between the BM and CBN rates, I mentioned the same in my earlier post. The CBN has been expected to come up with reforms; since January nothing yet . . .

And just to mention, banning importation has little or no effect in this equation, our biggest Forex guzzler at 40% is refined petroleum products, I think we should ban that first (by far the most senseless imports into this country . . . but see where we are . . . stuck with it) before banning other imports that suck averagely 20-30%. While repatriation of funds and other settlements account for the rest. If the right policies and infrastructure are in place, we wouldn't need to be importing palm oil, rice, tooth picks, eggs and other weirdos in the first place, rather, we should be exporting those, we would have real sector investors coming in with 'hard currencies' = less pressure on the dollar.

Devaluation won't stop all that, it hasn't so far, it would only encourage smuggling . . . like I said earlier, once you devalue, there is call for wage increase which triggers 'further inflation' and makes available money to buy 'the same now more expensive imported goods' = pressure back on the dollar = back to square 1.

Devaluation in our 'peculiar scenario', is a lazy man's approach to a fundamental problem.

P.S. About the 'hiring thing' . . . sorry, that's just my 'opinion' -- it might not make it right, but like I said, we have 'biggggerr' problems.

1. Everyone has a bias toward a party, ours is clearly toward APC like me
However like most guys here u seem to have a blind loyalty
NOT GOOD

2. Past devaluation fail primary due to lack of economic reforms or reforms that did not go far enough

3. Naira should be devalue towards an equilibrium between CBN rates and parallel market.

4. YES..in any case our debt to GDP ratio is healthy

5. That's why we voted PMB to deal with saboteurs..govt should its job

On 40% of FX going to oil import...

Fix the local refineries ie NNPC joint venture with investors

Support dangote's lekki refinery

Build up local strategic reserves

By 2019 dangote's refinery should be up and running so this good for us

Ur failure to call out CBN/APC/ PMB on CBN betrays what you posted about “calling folks out”

It shows bind loyalty which I don't expect from someone who post ds intelligently

modath:
Why should she have resigned? We were rich on paper & that's all that matters!!




1.2016 budget= PMB replaced key projects like rail lines, federal roads & agric development plans with Town halls & Keke Napep.

2.CBN illegal hire= Bubu gave the waiver & he is also the CBN governor..

PMB's economic policy (FX restrictions)= When you become president of a nation in almost financial distress, give FX to importers to bring in plastics & hand fans to be shared at Owambe!

De listing of Nigerian from JP Morgan etc= Bubu won't devalue, IMF go taya, then G n D.. EoD

Am too old for the childish APC v PDP rants that u what to drag me into. I leave that to nairaland juveniles

U have not been objective enough and that betrays your progress stand.

Progress ideas is not about blind loyalty, its about been creative at problem solving

You the executive is partly responsible for d blunders of budget yet turn a bind eye

Same goes for CBN

The bulk stops at the presidents table stop been ridiculous like a typical PDP folk

You are not a true progressive until u learn d art of objectivity and logical thinking

989900:
I posted the below some days ago:


The frustration is real, no doubt.

The present frustration is largely due to our 'no-budget' situation.

Once the budget is passed and the government shows direction in implementation and other policies, things would ease up a bit -- only then can investors (foreign and domestic) make decisions, as it is, the country is in a state of perpetual limbo. And, it's making rate of repatriation of funds much higher than investment of funds -- we have a problem!

Then we have energy issues: the less electric power served, the more fuel we consume/import, the more dollars we require for imports, the more dollar scarcity created = higher exchange rate as felt in the past 2 weeks . . . customers using their bank cards online or at ATMs outside the country can testify to this.

The recent massive importation of fuel recently, siphoned more dollars off the market!


http://naija247news.com/2016/04/how-naira-yuan-currency-swap-deal-will-ease-pressure-on-nigerias-fx-market/

It's a shame we 'technically' do not have refineries . . . heard those should start working part time some time soon, but we've heard that a million times now.
However, we do have pipeline vandals who ensure we do not have power supply, and crude supply to the partially working refineries, nor product supply to the few resuscitated depots.

Then we have hoarders, racketeers and profiteers, aided by senior CBN and bank executives. Now this is the part I blame Buhari for (his stance would definitely create this kind of scenario, now, what are the checks and balances he had in place . . . forget CBN's autonomy . . .).
As for Emefiele and the other CBN deputy governors, they are as crooked as scoliosis -- they are part of the reason why the situation is amplified.

The below is an excerpt from another thread:




Now my questions are:

How will devaluation automatically put an end to all these, I mean it hasn't since 1986.

I want a quick fix, we all want a quick fix, we are all affected; apart from the temporary relief devaluation might bring, how does it solve the 'causes'?

Can anyone guarantee with the same oil prices, the same racketeers and saboteurs won't play their hands, and the black market/official rate wide gap resurfacing?

When do we put a kibosh to the causes?

Fine, pump prices are presently headed for N200/litre averagely albeit temporarily, are we ready to make that permanent -- devaluation guarantees that.

Inflation is presently @ 12.2% (which is an abomination), with devaluation comes agitation for wages increase, comes further inflation -- are we ready . . . ?

Nigerians appetite for foreign goods (which is actually just averagely 25% of the country's demand for forex) will not automatically die with devaluation, rather, there will be call for increase in wages, so we can continue where we left off! We've been doing that since time immemorial. BTW, who bought 36 Landcruisers?

We need to think outside the box to bring the BM rates closer to the CBN rates, some economists have suggested some alternative ways -- the government needs to look into those and get something started already -- a direction!


P.S. About the CBN hire thing, honestly, I DO NOT CARE: we have bigger problems in this country, and if our problems were 1-1000, that will be number 901 -- it's been happening for decades, and will continue to, it happens in most other countries too, if there is a vibrant economy, most of our youths will care less about the CBN.

My frustration with nairaland is in two folds
1. PDP folks here are very un inspiring, and lack depth of knowledge
2. APC folks are entrapped into defending govt position no mater how ridiculous they are

Hence we have long threads lacking in depth, reasoning, sound logic, therefore nothing to gain but bigotry and hate

You are an exception, but u should do more to raise the bar, stop getting in this childish APC vs PDP rubbish- we can do dt in 2019

Now to ur post,

Devaluation is a necessary quick fix, (folks are hurting) workers are due for a wage increase anyway

Let's devalue and follow up with economic reforms, ban importation of what we can produce here

This 1: 320 rates only feeds the saboteurs and folks in govt, while fuelling more corruption

The road to hell is paved with good intention, mugabe had good intentions for his people, see how it ended up

This FX policy has frozen up capital, its not working.

On CBN hire

You should care, isn't that why we voted PMB?

Nepotism and corruption are twin sisters, who in breed to conceive even greater corruption

modath:
Mynd44 lalasticlala

I honesty blame NOI for not resigning.
Facts are sacred, if we blame NOI and GEJ only am afraid we haven't learned

By the way u and 989900 haul ur stones at NOI but are dead salient on the blunders of PMB

Can you an objective article on:
2016 budget
CBN illegal hire
PMB's economic policy (FX restrictions)
De listing of Nigerian from JP Morgan etc

The following links might be helpful

1. http://budgetoffice.gov.ng/pdfs/2016pro/T…

2. http://budgetoffice.gov.ng/index.php/comp…

Kindly show me where the Lagos-Calaber rail line is itemised

A minister coming with an amended version of a budget?

Where is that done?

What does the constitution say about appropriation?

We should tell this govt when it wrong

Relax, did BudgIT get their version directly from the Presidency or from NASS?

Start from there first , that makes more "sense" before throwing visual impairment around!

Visit the Budget office website
And download the Budget your self

Or do I have to help u with a link?

No mention of Lagos- Calabar in the budget, unless it has hurriedly just been added!

[quote author=modath post=44590254]https://www.nairaland.com/3041068/people-working-buhari-lying-2016#44588856

Check the last tweet on this link, Jibrin Admitted to what they inserted!!

Check & see..

You shoud also check this site www.budgetit.com they independently Confirmed that Lagos - calabar was not included in what PMB presented

We should start asking question not not defend blindly

Its April already for crying out loud!