Agriculture remains the instrument of choice for our policy makers if we are really serious about diversification. Yet, paradoxically, the hard up method of exploring oil in the North raise a palpitating questions on the lips of Nigerians 'Are we still serious about divisification of our economy'? Blame games have become the rule and not the exception in contemporary reality in Nigeria. Of the recent comment about the state of the economy by the finance minister and the president about ''patience, change is a gradual process', you then asked ''if truly Nigerians should believe in the word gradual process, why are Nigerian oblivious about this administration Long and short term policies? I can rightly say that 95% of APC chieftain's, supporters are not aware of their parties economic policies, that is why we have varieties of conflicting defence in the media. It takes a trust to build a Nation, if Nigerians are fully aware of the economic policies of this government, our information minister dont need a rocket science to convince us. However, diversification into agriculture requires both a long and short term policies to cover both the present and future needs. We are yet to see a published details of both the long and short term policies for agriculture. No research centres, no credits loan, no indigeneous input management, no stimulated job for agricultural graduate's. Then i asked, where does the word 'change is gradual comes from?

If APC has that,

Nigerians Wud have known dat by now.

Which means they do not have

Borrow money from sukot banks and use it to compensate their bokos.

Their short term goal is to kill Nigerians, while their long term goal is to take us to hell. Awon oloshi

Loot recovery . . .

It is very STUPID to be asking about policy.
The policy is clear in the budget and MTEF. It is discernible in the import ban. There have been many press conferences on it.

I have come to the conclusion that Nigerians left within Nigeria are the dumbest black people in the world. All the stars have left the country. Everybody is just shallow and dumb and trying to hide it by using meaningless expression.

Asking for economic policy at this time is like asking a woman having sex with her boyfriend what style she likes. The style is already on display.

If the economic policy is useful to you, send me your business idea I will do a feasibility study for you based on current ONGOING policy and how it might affect it.

short term policy is to blame Jonathan, whlie the long term is to blame PDP

Adminisher:
It is very STUPID to be asking about policy.
The policy is clear in the budget and MTEF. It is discernible in the import ban. There have been many press conferences on it.

I have come to the conclusion that Nigerians left within Nigeria are the dumbest black people in the world. All the stars have left the country. Everybody is just shallow and dumb and trying to hide it by using meaningless expression.

Asking for economic policy at this time is like asking a woman having sex with her boyfriend what style she likes. The style is already on display.

If the economic policy is useful to you, send me your business idea I will do a feasibility study for you based on current ONGOING policy and how it might affect it.

Well said.

I think the long term is well covered and bodes well, however, the short to mid-term considering our current situation is not well articulated/thought-out, one would have thought with all the campaign they had it all covered . . . probably, lately the recent consultations with the likes of Bismarck Rewane, Bode Augusto, Akpan Ekpo, Ayo Teriba, Badayi Sani MAN,LCCI and others, would bring something tangible to fruition on the short-mid term.

The Below are key points emphasized . . . and my grouse with this administration is, acting too late, too sluggishly even though the direction is right.

1. MORE FUNDS FOR STATE GOVERNMENTS

According to The Nation, the bill seeks to amend certain laws, such as the Universal Basic Education (UBE) Act 2004.

The UBE Act states in section 11, sub-section 2, that “for any State to qualify for the federal government block grant pursuant to sub-section (1) of this section, such State shall contribute not less than 50% of the total cost of projects as its commitment in the execution of the project”.

With most states cash-strapped, the bill seeks to overrule this section, and allow states access about N58 billion “stuck” in UBEC’s coffers.

If the bill sails through, interested states would have N58 billion to spend through this economic crisis.

2. BOOSTING THE FOREIGN RESERVES

Nigeria’s foreign exchange reserves fell to an 11-year low on August 19, 2016, standing at $25.7billion.

With such depleting reserves, following a plunge in crude oil prices, the government is seeking to get emergency powers to sell and/or lease government property to raise $50 billion to shore up the reserves.

3. STRENTHENING THE NAIRA

With reserves in good shape, it would become immediately easier for the Central Bank of Nigeria (CBN) to defend the naira, and shore up its value in the face of dwindling oil prices.

A vote for this bill by the national assembly, may lead to a stronger naira against the dollar, an end to forex scarcity, and some stimulation in the Nigerian economy.

4. CREATING EMPLOYMENT

According to the Nigerian Bureau of Statistics report for the past three quarters, at least 1.5 million Nigerians have become unemployed.

The president and his team promised employment, and have not effectively delivered on that.

However, with the new bill, funds will be allotted for many capital projects, which will in turn generate employment.

With states having access to the UBE fund as stated in the bill, the school feeding programme of this administration may kick off and create employment in Nigeria’s vibrant informal sector.

5. EASIER PROCUREMENT

The Nigerian procurement act has been reported time and again as cumbersome, stalling the speed of implementation of government projects.

This bill seeks to also “support stimulus spending on critical sectors of the economy; make orders to favour local contractors/suppliers in contract awards”.

6. DUBAI-LIKE VISA PROCESS

Nigeria is desperate for foreign investment; foreign portfolio investment had declined by 86 percent in the past year, while foreign direct investment had plummeted by over 50 percent.

Osinbajo, who confirmed this at a presidential policy dialogue in Lagos, said the government was working on policies aimed at reducing fiscal and forex imbalances, boosting dollar liquidity, lending to the real sector, and increasing “FDIs and FPI by sustaining enabling policies”.

The bill, according to reports, seeks “to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country”.

This visa process, similar to that of the United Arab Emirates (UAE) and Ghana’s newly-adopted system, is to ensure ease of movement by investors into Nigeria.

7. BETTER EASE OF DOING BUSINESS INDICES

Nigeria has lagged many developing countries on the ease of doing. The bottlenecks are enormous, the laws are strenuous, the tax policies are repetitive.

The bill seeks to address some of these issues and improve the ease of doing business in Nigeria.

The office of the vice president, when contacted, neither confirmed nor denied, the existence of the bill.

*Culled From The Cable

The poster above..... Am amused by your ambivalent position...... APC has no agenda yebo

989900:


It must be fun for you playing my b!tc.h -- you'd still need a brain though.

As your father's age mate I will advice you to text your message to your biological father and see his response....

989900:


Absolutely.

Ok.

989900:

Truth be told APC was expecting a far easier ride and were hoping to manage to impress. They didn't come on board with well thought out plans. Their main focus was to reduce corruption. That's great but in times like this the people need aggressive education on how to sail the waters of reccession.
Let them know their taste for foreign goods is killing the system irrespective of policies.
Let them know they have been enjoying subsidy for every single imported item for so long and that right now there is no means to sustain the dollar subsidy.
Let them know what they stand to gain by exporting their services and products.
Let the know what the gain by buying made in Nigeria products.
Let the know how dollar system works and how govt has been 'padding' it.

APC was formed at a time when Nigeria enjoyed an unprecedented boom in oil income. As at the time, the biggest problem hindering Nigeria's development was corruption, impunity and general mismanagement. Several beautiful policies were formulated but were unfortunately never implemented because of the same issues of corruption, impunity, cronyism and general weak management. It was painful standing by the sidelines watching how a nation which had every reason to progress remained stagnant. Corruption was just about the biggest problem and this was the main monster to be tackled by APC.

Unfortunately, as soon as APC came on board, oil price crashed, the nation was plunged into instant recession and even though the corruption and mismanagement (which was identified in those boom years as the biggest problems) has now been curbed reasonably, there is currently a bigger problem being the oil price related recession. Truth is that Nigeria presently needs high level brainiacs to speed up the process of salvaging us from the current recession, and that's a quality the current leadership doesn't obviously have in its CV; APC wasnt prepared or armed for the present situation.