₦airaland Forum

BlackMaria:
Ashewo.

obasiken:
Fool

porka:
Why Is Everyone Ignoring This Inexplicable Fuel Scarcity?

Answer.

It is because the people called the 'MASSES' are nothing more than few loudmouth political (pseudo-political) individuals who give directions to their worshipers.

As long as these MASSES' interests are still being served and they are not disgruntled, the worshipers may even be starving to death and all you hear them say is that 'things would have been worse'.

But let the MASSES' interests be on the line, and a mere RUMOR of fuel scarcity could turn the country into Tahrir Square in few hours. Within days, the whole country could be in flames.

Many of the MASSES are now stakeholders in the government. The worshipers have their back.

PapaBrowne:
Apparently we have the wrong Finance Minister.
In times of Economic crisis, you need the best of heads and this lady doesn't appear like one of them.

Borrow locallyThe question is when the local economy is comatose, how would the populace buy bonds to borrow the FG money. You buy bonds when there is excess liquidity and you want to save long term. There is no money in the system, hence there is gonna be little or no investment in bonds. Worse still, Nigeria has been taken off the Emerging Markets Bond Index, so no Foreign money coming into our bonds. When that happened, the FG said, to hell with JP Morgan.


Economic management is the job of an Economist. This lady, although with a basic education in Economics is an Accountant by experience and nothing more. The ministry of Finance manages our economy. She would have been better off as an Auditor General. Financial Management in economic terms is a totally different ball game. And bad enough, her highest degree is a Post Graduate Diploma.

You set out a 6 trillion Naira budget with an oil price benchmark of $38 when oil is trading at $36 and going downhill. First error.
You decide you will raise a chunk of you finance form custom duties and taxes. You fail to realise that because the economy is weak and dollar rate is high, there would be much less importation, hence reduction in your income from customs.
Also you forget that taxes are on profits, so with a weak economy most companies would declare losses which means they would have no tax to give to you.

I fear for Nigeria. APC has already started out on a terribly wrong footing. First it appear to have no direction at all. And secondly it has the wrong kind of people running its affairs. In a time of crisis, you need the best brains AND especially those fit for purpose. Kemi Adeosun is not capable of running our economy especially in a time like this.
.

Iroh88:


A thread for of Ekpas, by Ekpas, and for Ekpas.

Gather round and console yourselves ye Ekpas. It's been very cold out there lately with Dasukigate, so when a random individual on twitter speaks, since Metuh, Fayose and FFK have gone dumb lately, you can gather round and give yourselves some warmth.

Guess if she had said otherwise, ye Ekpas would have labeled her an alm¤jeri.