bushdoc9919:
It is not Okonjo Iweala's fault that the oil prices dropped...but it is her and her govt's fault that they never got us off oil dependency.

anonimi:


Her govt has been in office since 2010 i.e. five years and made PROGRESS in diversifying our economy. If Buhari and the other rulers before Jonathan had done same we would have been much better.

bushdoc9919:
Problem is....we have not made progress on the electricity front. Forgive my impatience....but we should be moving much faster.

anonimi:



Can one take that as a grudging acknowledgement of PROGRESS under Jonathan/Sambo in the last five years of the needed diversification away from Niger Delta crude oil

bushdoc9919:


Problem is....we have not made progress on the electricity front. Forgive my impatience....but we should be moving much faster.

The fact is...Nigeria's economy has been hit by our over-dependency on oil over the decades. And the painful thing is that Okonjo-Iweala knows this...and even knows all about how resource dependent economies do not do well when the price of the resource they sell is falling.(which is also the reason why Agric will not save us.....ask Burkina and mali how their dependence on cotton is working for them...and Malawi...that depends on tobacco...and has its budget written for them by the loan sharks called aid agencies! ).

If I was running this country....half the budget will go on power, technical education and railways. Everything else can take care of itself. And the fuel subsidy will have to go.States should also be ready to take a 30-40% cut in allawee too.

If we do not get off oil as a matter of urgency...life and death....in the next few years we will continue to take loans. Then in five years time....we might as well move the HQ of our Ministry of Finance to the World Bank.

Even APC has no idea how to get us off oil(we will build roads, and give everybody money we do not have!)...but neither does the PDP.

uselessgoat:



Stop wasting your time on that paid idiiot who has mortgaged his future generations for peanuts. He is locked in a room in Abuja and paid to spread propaganda. You can never convince him cos he is ignorant

bushdoc9919:
Not so fast.

We are producing about 3500mw of electricity for an installed need of 12500mw.

No...we are moving at a snail pace. We need to move at light speed pace.

progress

noun

1. a movement toward a goal or to a further or higher stage:
the progress of a student toward a degree.

2. developmental activity in science, technology, etc., especially with reference to the commercial opportunities created thereby or to the promotion of the material well-being of the public through the goods, techniques, or facilities created.

3. advancement in general.

4. growth or development; continuous improvement:
He shows progress in his muscular coordination.

5. the development of an individual or society in a direction considered more beneficial than and superior to the previous level.


From: http://dictionary.reference.com/browse/progress

Editor1:
GEJ, go ahead and borrow any amount u want...

The S-south has given u the go-ahead. Afterall, wen its comes to repay the loans, its still the oil money from south dat is used....not the rotten onions from North!
Its our money...we spend it as we wish.

Meanwhile its GEJ till we find a better replacement!

mashnino:


look at this ignorant idi.o.t

look at this idi.o.t

look at this fool

can you just shut up and leave party sentiment aside and see what is befalling us..

idi.o.t !!!!! My God!!

GENTLETEE:
This woman is misleading GEJ. Hope she will not sell this country one day!

ammyluv2002:
Borrow borrow make us rich

Ammy? Can't believe you could comment on a thread as this

peteonline:
Only if this would create more jobs. I support her if this will boost the economy more to the first 20 in the world. She is an expatriate in this field.

Ilekeh:


What an idi.ot!

Please tell me that you're not of voting age.

chronique:
What's all these nonsense you guys are screaming about? Is there a country in the world that doesn't borrow?

America's debt profile is 17 trillion dollars with a foreign reserve of 129 billion,Britain's debt profile is 9.5 trillion dollars with a foreign reserve of 139 billion,China's debt profile is 3.8 trillion dollars with a foreign reserve of almost 4 trillion dollars. Nigeria's debt profile is 47 billion dollars with a foreign reserves of 32 billion dollars. Out of this 47 billion,9 billion makes up our external debt,which is about 5.5 billion up from 2005 when NOI left the Obasanjo govt. When she left,domestic debt was around 14 billion dollars. As at now,the federal govt owes about 6 billion of the external debt while the state governments owe the remaining 3 billion.

Our debt to GDP ratio is 12.51 percent,which is much lower than the 26 percent benchmark set by international standards for countries in our category. So what's all the big noise about? That being said,I know it's not a yardstick for us to keep accumulating debts but these debts come in different packages via bonds and treasury bills and some of them are being used to control money supply in the economy so as to reduce inflation,amongst other things.

The way Nigerians react to issues bothering on economics at times,could be so embarrassing. Most Nigerians act like we're the only nation in the world that borrows money. You guys should try and update yourselves on certain issues at times before debating on them.