[s]

globe16:

its all about oil for buhari and his zombies what a pity. Buhari met more money in the reserves than obasanjo did? yes or no? Buhari wasted part of the monies GEJ saved on a futile mission to search for oil in the north yes or no? Buhari and the leaders of his demonic APC party revolved against federal govt savings under GEJ, including taking the FG to court, yes or no? Buhari inherited the best economy in Africa yes or no? Buhari singlehandedly dragged Nigeria into recession yes or no? Buhari has done nothing about diversification from oil except looking for more oil in lake chad, yes or no? Buhari does not have a single positive economic policy yes or no? Should I even continue.. What buhari and his zombies need is a working brain and deliverance

[/s]

You are not making any sense. Apart from calling yourself a zombie, I am sure there is nothing else of value in your empty skull.
Can you answer any of the questions I posed to you before I answer your questions, which I am sure the answers are in the public domain?
For a start economic diversification is something that will take years. It is not something you do or achieve within a year. Your best economy that is not by external reserve, not by infrastructure on ground, not by industrialization or diversification, not by youth employment. What is that Best economy based on high oil price, but underpinned by wastage, looting and debt? "Best economy" by re basing the GDP to accommodate Telecom, Nollywood and other sectors that were otherwise not part of Nigeria's GDP is now an achievement for the economic illiterates. You appear very confused. Not knowing your left from your right is your biggest issue right now. Do you sell imported goods from your 2 x 2 shop? Or you are at home unemployed?

deji15:



[s]You are not making any sense. Apart from calling yourself a zombie, I am sure there is nothing else of value in your empty skull.
Can you answer any of the questions I posed to you before I answer your questions, which I am sure the answers are in the public domain?
For a start economic diversification is something that will take years. It is not something you do or achieve within a year. Your best economy that is not by external reserve, not by infrastructure on ground, not by industrialization or diversification. What is that Best economy based on high oil price, but underpinned by wastage, looting and debt? "Best economy" by re basing the GDP to accommodate Telecom, Nollywood and other sectors that were otherwise not part of Nigeria's GDP is now an achievement for the economic illiterates. You appear very confused. Not knowing your left from your right is your biggest issue right now. Do you sell imported goods from your 2 x 2 shop? Or you are at home unemployed?[/s]

deji you are jobless zombie who is a total economic illiterate like your master buhari.. Yes I sell imported goods in my 2 x 2 shops but can feed people like you that voted this fraud called buhari because of phantom 5k monthly payments. I dont have to answer senseless questions from you.. You can say all you want about the best economy being rebased and all during GEJ but the suffering you and your fellow zombies are experiencing now says otherwise.. You can't deny that buhari single handedly dragged Nigeria into recession. It takes years to diversify, but it doesnt take years to waste the monies saved by GEJ to search for oil in Lake chad.. Why I'm I even engaging you in the first place? This is all you need right now

[s]

globe16:

deji you are jobless zombie who is a total economic illiterate like your master buhari..I dont have to answer senseless questions from you.. You can say all you want about the best economy being rebased and all during GEJ but the suffering you and your fellow zombies are experiencing now says otherwise.. You can't deny that buhari single handedly dragged Nigeria into recession. It takes years to diversify, but it doesnt take years to waste the monies saved by GEJ to search for oil in Lake chad.. Why I'm I even engaging you in the first place?

[/s]

He comes back with load of more rubbish. Zombie.. blah, blah, blah. Any other thing in your empty skull?
I provided statistics and figures, he is here with emotions and abuse. FYI, I feed well and I am very optimistic about the economy.

You cannot build an economy with corruption as your working capital. That is what we had under the jibiti Government of Jonathan.
Your mouth like deji.. Your ethnic name is globe16 right? Fake! Fake!! Fake!!!

Buhari is confused.

One Day buhari will ask for 7 heads of virgins to sacrifice to Muhammad and Allah before he can do the work he was rigged in to do. I pity Nigeria.

Osyabj:
President to meet Saraki, Dogara

Bill to rescue economy ready

President Muhammadu Buhari will be seeking emergency powers from the National Assembly to push his planned stimulus for the economy.

The objectives of the action-plan on the economy, which is in recession, include shoring up the value of the naira, creation of more jobs, boosting of foreign reserves, reviving the manufacturing sector and improving power.

Government sources said the decision to seek emergency powers for the President was based on a proposal from the economic team headed by Vice President Yemi Osinbajo. The team reviewed the various policies so far introduced and how they have affected the economy.

The economic team, it was learnt, gauged the mood of the polity and decided that unless there is an urgency which some of the extant laws will not permit, “the recession may be longer than expected and Nigerians will not get the desired respite, which is the goal of this government”.

An executive bill titled: “Emergency Economic Stabilisation Bill 2016” is to be presented to the National Assembly when the Senate and the House of Representatives resume from vacation on September 12.

In the bill, the executive will be asking for the President to be given sweeping powers to set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.

Buhari will be seeking powers to:

abridge the procurement process to support stimulus spending on critical sectors of the economy;
make orders to favour local contractors/suppliers in contract awards;
abridge the process of sale or lease of government assets to generate revenue;
allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly.
amend certain laws, such as the Universal Basic Education Commission (UBEC) Act, so that states that cannot
access their cash trapped in the accounts of the commission because they cannot meet the counterpart funding,
can do so; and
to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to
compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods
Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of
business.
The extant law on procurement does not allow contract award earlier than six months after decision. Part of this is a mandatory advertisement of the contract for six weeks. The economic team has found this to be unacceptable, given our present circumstance.

Although the president has the power to order the sale or lease of any government asset to raise cash, “the procedure is cumbersome and long”. The draft bill is meant to ease the process. The government source said about nine government assets may be leased or sold to generate around $50billion to shore up the nation’s foreign reserves and the value of the naira against the United States dollar.

The source said: “Nigeria may be broke at the moment but we are not a poor country, given our assets and capability.” About N58 billion is trapped in UBEC’s coffers because the states cannot access it as a result of the key condition, which is the payment of 50 per cent counterpart funding. The government is seeking an amendment to the law so that states will pay only 10 per cent as counterpart funding.

The objective is that state governments will have access to cash to develop education. This will facilitate creation of jobs since contracts will be awarded for the projects.

As for contract awards, the government, by the provisions of the law, cannot mobilise contractors with more than 15 per cent of contract sum. This is considered to be undesirable by the economic team given the pace the government wants to move in turning the economy around and in the provision of critical infrastructure. The bill will seek to allow the government to mobilise contractors with 50 per cent of contract sum.

The move to get government agencies to fast tract their operations is to enable foreign investors to come into the country without the current bottlenecks. Consular offices will now be expected to make visas available within 48 hours and visitors, especially tourists who intend to pick up visas at the entry point, will be able to do so. Time wasting at the airport with duplication of agencies screening incoming passengers is to be eliminated. Those leaving the country should go without hassle.

For the power sector, the government plans to truck gas from source to the power plants to enable them get what they need for generation. A government source said: “This may be more expensive but it is a price to be paid for Nigerians’ comfort”.

It was learnt that President Buhari will engage the leadership of the National Assembly before their resumption to solicit support for the bill’s quick passage.


http://thenationonlineng.net/buhari-seeks-emergency-powers-tackle-economy/

Nigeria has always been good with theories . Puts on my spectacle for a lucid view of the goings sha...

globe16:

$1bn dollar in 1999 still has almost the same value as $1bn dollar in 2015 .. Fact is buhari met more money than obasanjo did.. If you want to talk inflation, buhari is still to blame

Ok. If i may as ask, which institution did you finish from.?

deji15:


What about the wage bill?
By 2003, The NASS budget was 23 billion naira. Today, they are grumbling that it has been reduced from N150 billion naira to N115 billion naira under Buhari.
Minimum wage was N7,500 in 1999, now it is N18,000.
With all the debts left by Jonathan, who will pay the debts??

This must be wrong! Literate globe16 said no significant inflation occurred up to 2015, even if there was, it was caused by Buhari

chinnyonwu:

This must be wrong! Literate globe16 said no significant inflation occurred up to 2015, even if there was, it was caused by Buhari

My brother, I tire for guys like globe16 oh.

Dictator Buhari and Fake Pastor Osinbajo must think that Nigerians are stupid. The same 2 men that vowed to make Nigeria ungovernable and have used their clueless powers to wreck the economy, making Nigeria and Nigerians a pariah in the comity of states are now seeking draconian emergency powers to further their evil tyranny? And trying to blind the world with idiotic insincere promises of faster visa issuance? Everybody, anybody and somebody should tell Dictator Buhari and Fake Pastor Fastor Osinbajo that they don't need emergency powers to make Nigeria's foreign missions do their job in issuing visas. These fools should resign since it is clear they are not up to the task of governance, public administration or economic management. Irresponsible pair of liars, thieves and charlatans.

I think Nigerians needs to be educated on the effect of granting such emergency powers as the President has shown that he lacks policy directions so we can't tell what his real intention might be ,, also we should consider what turned out to be the effect of granting emergency powers to the the Adolf Hitler .. #History should not be repeated ..

Who is fooling who? Buhari promptly denied almost all the campaign promises at full glare of Nigerians, zombies inclusive. Now, he can't even do better than a local govt chairman. You see, he started with insincerity and this is where it has gotten us.

Does it mean that a man who made four attempts at becoming a president did not even understand economic operations outside crude oil price? OR did he have in mind that he would blame the past administration if crude price is affected? What was his blueprint for almost 16 years of vying for presidency? High crude price?

To my surprise, some people are in deep suffering but still shamelessly sing the song of buhari; a president who inherited the best economy in africa. Anyone supporting the foolhardy and blind direction of this contraption called FG has lost touch with reality. Such person will even look more stupid if his children ask him a few questions.