mcquin:

Drop the excuses. Fashola said power which is critical to an industrialized economy, isn't rocket science. Remind me where we are on power today after 5 years.

Yes corruption bla bla bla, what has Buhari done about first cutting down governance cost? Our recurrent has done more harm than even corruption. Paying so much for an unproductive system?

See Emmanuel Udom taking practical steps to diversify the Akwa Ibom state economy, again what is Buhari doing? Borrowing and raising taxes?

Read my last.paragph please.

I am not excusing Buhari. I am stating the problem, and showing what needs to be done

Thank you.

MyVILLAGEpeople:
Seems this Buhari is a punishment from God to Nigeria.

it is not about Buhari, it is about NOTHERNERSS altogether.

In Benin republic, Notherners there are like Hausa in Nigeria and they are preferred at the helms of affairs than Southern Benin Republic people because they always obey France unlike Southern Benin Republic People.

Any Tribe in Africa that Naturally Submits to those useless France and British people will always be prefered to be in the bells of affairs in the Nation they are.

This is what is actually happening in Nigeria.

It is a long time ago organized way of checkmating tribes in Africa that Figth against Colonial Powers.

The TRIBE THEY HATE MOST IS YORUBAS!!!

obailala:
First of all, no reasonable person takes those kind of campaign statements done prior to elections seriously.

Secondly, Buhari never made that $1 to N1 promise, that was nonsense sensationalism by political reporters taken too far. Also Buhari never said anything about making petrol N40, that was a statement made by an individual called Tam David West.

Diversification of an economy away from a mono product like oil isnt something you achieve in a day; it takes
1. A lot of time
2. A lot of money
3. A clear economic vision /direction
4. Hard political inexpedient decisions (e.g. removal of fuel subsidies, electric subsidies, crashing the Naira massively)

You cant blame the govt for Nos. 1 & 2 as those are somewhat beyond their control. But obviously, the govt has failed woefully in No.3 and 4. Probably with the current IMF strangulation, the govt would finally have to follow the politically inconvenient pathways of No.4.

I heard you.

what do u expect.

Let Buhari resign. We need people like Kingsley Moghalu and other seasoned economists in place to lead this country[b]Let Buhari resign. We need people like Kingsley Moghalu and other seasoned economists in place to lead this country[/b]Let Buhari resign. We need people like Kingsley Moghalu and other seasoned economists in place to lead this country

Let Buhari resign. We need people like Kingsley Moghalu and other seasoned economists in place to lead this country

MyVILLAGEpeople:
Seems this Buhari is a punishment from God to Nigeria.

you are right about that

Yankee101:


I buy treasury bills. How much treasury bills do you have in your portfolio?

When was the last time you saw any treasury bill at 20%? Na your papa bank?

I posted domestic debts for you to see the month after Goodluck took over, to after handover to Buhari till date

At nominal value Buhari has borrowed 120% more than Goodluck in local debt. I'm not pulling numbers out of my a*rse like you're doing

There's no way you can slice it to paint Buhari as a better midwife of the Economy

What exactly is your argument really? Are you just trying to force an argument out of nothing?... Yes the interest rates for treasury bills has dropped massively now, but that was only just very recently. If you truly buy treasury bills, then you should know this.

Pulling numbers out of my arse? The very same DMO website where you pulled your figures from is where I also pulled the figures below from. Only difference in our numbers is that I've quoted the grand totals (in dollars). These are the direct links:

https://www.dmo.gov.ng/debt-profile/total-public-debt/3235-nigeria-s-public-debt-stock-as-at-march-31-2020
www.nairaland.com/attachments/12284462_screenshot20200905223020drive_jpeg59e60f02fece0a14987e7470e5b96292

https://www.dmo.gov.ng/debt-profile/total-public-debt/54-total-public-debt-stock-as-at-30th-june-2015
www.nairaland.com/attachments/12284463_screenshot20200905223550drive_jpeg7231fd8790269b64d9bea3bf036abfe9

So if you claim these numbers directly from the DMO website are from my arse, then your numbers from the DMO website are also from your arse, and I don't have any argument with you any more.

And no! I'm not trying to paint buhari as a better manager of the economy (if that's what's making you go hysterical). All I tried to point out was that it makes no sense, and is probably just pure ignorance for anyone to attempt to heap the blame of Nigeria's current excruciating debt burden on buhari alone. Buhari met a massive debt stock and coming in a time of severely reduced national income, borrowing is inevitable for survival; if you have any other alternatives on how the govt can quickly make money to keep the economy afloat, you should kindly say it.

obailala:
What exactly is your argument really? Are you just trying to force an argument out of nothing?... Yes the interest rates for treasury bills has dropped massively now, but that was only just very recently. If you truly buy treasury bills, then you should know this.

Pulling numbers out of my arse? The very same DMO website where you pulled your figures from is where I also pulled the figures below from. Only difference in our numbers is that I've quoted the grand totals (in dollars). These are the direct links:

https://www.dmo.gov.ng/debt-profile/total-public-debt/3235-nigeria-s-public-debt-stock-as-at-march-31-2020
www.nairaland.com/attachments/12284462_screenshot20200905223020drive_jpeg59e60f02fece0a14987e7470e5b96292

https://www.dmo.gov.ng/debt-profile/total-public-debt/54-total-public-debt-stock-as-at-30th-june-2015
www.nairaland.com/attachments/12284463_screenshot20200905223550drive_jpeg7231fd8790269b64d9bea3bf036abfe9

So if you claim these numbers directly from the DMO website are from my arse, then your numbers from the DMO website are also from your arse, and I don't have any argument with you any more.

And no! I'm not trying to paint buhari as a better manager of the economy (if that's what's making you go hysterical). All I tried to point out was that it makes no sense, and is probably just pure ignorance for anyone to attempt to heap the blame of Nigeria's current excruciating debt burden on buhari alone. Buhari met a massive debt stock and coming in a time of severely reduced national income, borrowing was inevitably necessary.

Guy, no overstress yourself. It is the stupidity of the average Nigerian that when presented with irrefutable facts, they still go about arguing. Most people who argue here just comment on basis of headlines, political lines and ethnic lines. No knowledge of economics or how economies run in a 21st century, where we are all connected by global trade.

Angelfrost:
Let's tell ourselves the truth... IMF and other lenders are on the right track here! Immensely corrupt nations like Nigeria should be constantly and consistently denied loans until they show true transparency, and massive reduction in corruption and wastage!!!

I honestly wish these steps had been taken at least a decade earlier... This nation should have been compelled to sit up economically long ago!

It is a pity most poor Nigerians are going to become even poorer! This is the price to pay for electing criminals into positions of power!!! Imagine over 2 decades of democracy gone down the toilet and cesspit of corruption and misappropriation.

The way back is going to be tedious and horrible! But, there is a way back... If this government can start cutting costs of governance, as it promised to in 2015, putting a lead on embezzlement, and actively generating or boosting internally generated revenue across the nation, etc, there will truly be light at the end of the tunnel! Anything less, and this nation will slip into economic oblivion!!!

IMF, WORLD BANK, and others should demand full and proper accountability with visible evidence of expenditure before doling out any further dime to these useless leaders!!!

Just lovely. We need to come together irrespective of tribe and put better people in power. It's no doubt today that more northerners are poorer now compared to when Buhari entered power. Nepotism and tribalism only benefit the rich 1% circle. Nigerians should stop being blind. Where have these "*my person*" leadership gotten us to? Backward is the answer.

2023 is coming, enough is enough.We say NO.

Mind you, the International likes Nigeria the way it is as long as they're benefiting and would love to keep it that way, it's not their fault cuz that's what best for their respective Countries to grow. The more Nigeria gets better, the more there is competition thus slowing da growth/dominance.

this right here is what Nigerians should make up their mind about. we want good education but we (ASUU) don't want to realistically pay for it.

increase VAT by a little margin we complain whereas countries we love to use in knocking nigeria eg. ghana and co have higher VAT.

foreign exchange is scarce so we need to get off the import bill stuff we can grow here which will help our farmers but we prefer cheaper imports.

anyway I think gradually but surely our brains are being reset that sustainable development will not happen by magic

obailala:
Buhari may be worst in many areas, but are you aware that despite oil selling averagely above $100 in his tenure and the govt receiving almost 3-4 times more revenue than any other administration, GEJ's government in 5 years borrowed just about the same amount of money which Buhari has borrowed in 5 years?... I'd be damned if you know this cos 99% of Nigerians dont. We live and analyse data purely on sensational and political headlines.

If Nigeria couldn't survive without borrowing when oil was $100, then why exactly is anyone surprised that we have to borrow now that oil sells for $30-40? Oh I forgot, it's because Buhari is a dullard.

Oil price is down, country's revenue is down, Nigerians dont want to be taxed, Nigerians dont want fuel subsidy to be removed, Nigerians dont want electricity subsidy to be removed, Nigerians dont want educational subsidies to be removed, Nigerians dont want roads to be tolled, and we dont also want govt to borrow despite the low oil prices/revenue? Are we sure we arent a confused nation? Maybe it's truly Buhari's fault, he should miraculously mint money.

abitex577:
APC has no economic policy, running the economy on trial and error

... and that's a Fact!

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