₦airaland Forum

maestroferddi:
Are you for real?

COGENT REASONS

1. The finance minister lacks the leadership presence to superintendent the economic ship of the nation. She appears ill-prepared for the onerous task of charting a clear-cut economic direction for the country.

2. The economic flip-flops or sheer directionlessness of this administration shows that Nigeria has, at best, a nominal/figurehead finance minister who is afraid to affirm her convictions even if they end up costing her the job. Put in another way, the finance minister is merely a passenger in Buhari's cabinet who appears hardly perturbed that she is not adding any scintilla of value.

3. The finance minister is increasingly looking clueless with the spate of scandals and blunders that have come to characterise Buhari's administration, economically speaking. Where was the minister amidst the horrendous budget melodrama? Which policy enactment can the minister point at after being in office for over four months?

4. What exactly has the minister done as the economic helmsperson of the nation to stem the zero gravitational free-fall of the naira? What is our defence against the onslaughts of the green backs? Is the CBN increasing the money supply of hard currencies so as to manage their demand? Or is the government stimulating manufacturing and exportation so as to attract foreign currencies and diminish their demand? What exactly is the policy thrust or position/direction of this government?

5. To what extent has the minister been able to mine other people's intellect? Which egg-heads are in her economic team/retinue? Which connection can she boast of to enable Nigeria get out of the woods? What was she able to salvage from the visit of eminent persons to Nigeria like that of IMF boss Christine Lagarde other than looking like a hapless and diffident PA?

Do you need more?

Ecoterrorism:
No policy direction from them before the budget is passed

Ecoterrorism:
This is apt. The ministry I have issues with today are budget, finance, foreign affairs, solid minerals, communication

kyaky:
[color=#990000]

Huffington:
All the plastic components are sourced from Nigeria. He has a plastic factory in Enugu. Stop being jealous because hate will only consume you.

KingRex1:
At least he has taken a bold step. Do u even think a car brand produces all its part?

obstead200:
In accounting, elements of cost is not limited to materials alone. u still have to factor in labour and overhead.

obstead200:
dont beef so much. We all know that it is less than 10% local content. But at least the markup that foreign vehicle manufacturers add to fully built vehicles is avoided.

adimoh99:
As much as some of us still think that this IPOB issue will not see the light of day, we need to look at it critically and stop skimming surfaces. When ICC gets involved I think it will no longer an issue for babies. Let a spade be called a spade.

Buhari has to stand up and treat this issue with the importance it demands and deserves there's no understanding in violence.

Wallade:
My brother, your economics is appalling! I don't agree with your school of thought.
Meanwhile, there is no point itemizing my disagreement with you because you can't understand me.

Best regards.

grandstar:
As a practical econmist. the following should be done:

1. Devalue the Naira. Allow it to float. Let it find its true vslue.

2. End the import restrictions on the 41 products excluded from the CBN window.

3. Slash import duties. High import duties simply rncourage smuggling.

4. Lift all import bans. Same reason as above.

5. Slash company tax to 18%.

6. Pay the monthly allocations to the 3 tiers of government in dollar certificates. This will end the persistent excess liquidity and also lead to a massive slash in inflationary pressure and interest rates


7. And so on

grandstar:
A devaluation will be helpful.

1. If they devalued officially, the rate will converge to between 230-250. The black market will move close to the official rate. That is far better than the 305 that is presently on ground.

2. It will put an end to round tripping. People will no longer be sble to buy at 197 and sell at 305.

3. The CBN will be able to meet all demand for forex. Presently, billions of dollar demand is left unfunded and Nigerian companies are being blacklisted. This has been the scenario since Buhari introduced thesr restrictions.

4. It will encourage an inflow of forex.Most people are not ready to receive funds at the official exchange rate. People wjo receive $100 Westetn Union are complaining.

I for one wanted to go into exportation but because I will have to change my forex earnings at the official rate, I lost interest

If people are not bringing forex in, how will the FX reserves grow.

Foriegn investors are refusing to bring money in and many are taking it out.

There are many reasons to devalue. At best, it makes a bad situation from becoming dreadful as it presently is. The naira is heading to 400 by year ending

HonNze:
Mr. Falana this woman go school pass you, so no need of trying to bring her down. Very smart, you can nail her with all these nonsense points your making.

opeaceo:
1. the cost of a cup is 1.1 unit

2. 10 minutes

3. I don't think it is possible.j

SkyBlue1:
And what is the point of investing money in building and trying to sustain more substandard institutions? Why spread already scarce resources so thin in the name of having the institution in Delta? How many of the Universities built by Jonathan are even African standard talk less of World Class standard? How many Nigerian universities make the top 1000 (not 100) globally? But quality means nothing of course, as long as the ethnic myopia itch can be scratched to your satifaction. We have many universities that deliver substandard education, that is nothing to be proud of.