[size=18pt]2nd March 1984 – ITN NEWS
GENERAL BUHARI VISITS YOLA AFTER QUENCHING RELIGIOUS RIOTING THAT LEFT DOZENS DEAD.[/size]
Nigeria's military ruler, Major-General Mohamed Buhari, visited the northeastern Nigerian city of Yola - in Gongola state - February 29 to assess the extent of damage caused by violent communal rioting two days earlier.

The known death toll from the religious disturbances is nearly 140, with at least another 60 persons injured, some critically. Gongola's acting state governor, Colonel Cyril Iweze, blamed the turmoil on fanatical followers of Moslem fundamentalist Muhammadu Marwa Maitatsine's religious sect. Marwa himself was killed in vicious rioting three years ago, when an estimated 4,000 people died.

In disturbances on February 27, the army was eventually called in to quell resistance from thousands of religious fanatics, at least 715 of whom were arrested by security forces.

General Buhari visited the Yola Specialist Hospital during his one-day tour of the gutted city, and also met with the Lamido of Adamawa, Alhaji Mustapha Aliyu, to discuss the situation.

[size=18pt]16TH APRIL 1984 - ITN NEWS
GOVERNMENT RESUMES DEPORTATION OF "ILLEGAL ALIENS" TO OPEN UP MORE JOBS FOR NIGERIANS [/size]

The Government has held the influx of foreigners responsible for Moslem sectarian violence and for a rise in violent crime. Another reason for their expulsion was to open up more jobs for Nigerian citizens.

Five airliners provided by Nigerian Airways ferried the deportees to their home countries in West and Central Africa. Before flying out they were taken to transit camps at the airport in Lagos.

[size=18pt]18 April 1984 – ITN News
OFFICIAL SUNDAY OPEN MARKET REPLACES ILLEGAL STREET TRADE.[/size]

A new official Sunday open market started trading in Lagos on April 15, on the site of the Marina car park, to replace illegal street vending.The inaugural speech was made by the Commissioner for Local Government and Chieftancy Affairs, Alhaji Lateef Olayinka; the ceremonial ribbon was cut by Lagos State Military Governor, Gbolahan Mudashiru.

Last month a member of the Supreme Military Council, Brigadier Tunde Idiagbon, announced a clampdown on corruption, indiscipline and mismanagement in the country's economy. This included the removal of illegal street trading in Lagos.

Police, operating under a decree from the military government of Major-General Mohammed Buhari, arrested street vendors and confiscated their goods. Commissioner Olayinka said illegal trading created traffic and environmental problems. He said an official inquiry had recommended a new open market was the best solution.

[size=18pt]Buharinomics - General Buhari’s economic program marshaled out to salvage the nation in 1984 [/size]

http://www.elombah.com/index.php?option=com_content&view=article&id=5720:is-general-buhari-the-problem-with-nigeria&catid=36:pointblank&Itemid=83

Buharinomics was General Buhari’s economic program marshaled out to salvage the nation in 1984. He summarized the objective of his economic policy (as articulated in the 1984 budget) as follows: "To arrest the decline in the economy, to put the economy on a proper course of recovery and solvency, and to chart a future course for economic stability and prosperity" (West Africa, May 14, 1984). He had previously done similarly, in March while receiving the visiting Sudanese President, Gaafar Nimeiri. Upon his inquiring of what the new military government had in mind for the nation it then ruled, Buhari said to him: "The priority [of his administration] is for economic recovery, providing employment opportunities, improving people's living conditions, consolidating internal security and ensuring foreign respect" (Africa Now, March 1984). In a nutshell, Buharinomics set out to arrest the decline in the economy and refocus it towards recovery.

Buharinomics was to wean the nation off consumerism and profligacy, while channeling it towards frugality and productivity. To accomplish this, the government was to cut down on its expenditure, engage in more efficient restricting and controlling of foreign exchange outflow, undertake the revival of the country's productive capacity (concentration was on agriculture), and broaden government's revenue base.

The first test of Buharinomics was implemented to revive the comatose banking industry and arrest local currency hoarding. In April 1984, the government ordered a change in the color of the Naira. This action was dubbed the “real coup” by unscrupulous business men and politicians who had almost eliminated the need for commercial banking in Nigeria by keeping their moneys under their mattresses or by trafficking them into neighboring West African countries.

This currency change, which forced all holders of the naira notes into exchanging them for the new naira notes at commercial banks, infused billions that had remained unaccounted for into the banking industry and eliminated counterfeited currencies, which had inflicted inflationary and other nefarious effects on the economy. This measure had an immediate revitalizing effect in the banking industry and was an unqualified success. Banks that were close to collapsing became vibrant again, to the extent that some of them began to hire hitherto unemployed Nigerians.

[b][size=18pt]Buharinomics - General Buhari’s economic program marshaled out to salvage the nation in 1984 (- - - continued part 4)[/size]

The Nigerian government and veteran economists in Nigeria (like Aluko, Onosade, Okigbo, etc) could not make sense of being asked to devalue its currency when Nigeria’s imports were in dollar and its export (fixed quantity of oil) was also in dollar. The implication of devaluation was that Nigeria would pay more to import lesser quantity of goods than it did prior to any devaluation. It would also export the same amount of oil it exported before any devaluation and derive lesser revenue than it received before any devaluation The impacts of it debt payment would have harsher effect on the citizenry if the naira was devalued. This did not make any economic sense to Buhari; it struck him as an insult on the intelligence of the African. Finance Minister Onaolapo Soleye and Alhaji Abubakar Alhaji who led the Nigerian delegation to the last negotiation in Washington were chewed out by US Federal Reserve Chairman, Paul Volcker, for presenting the Nigerian governments rejection of most of these recommendations.

For rejecting the IMF conditions and the loan, the Buhari administration got into the black book of Washington. Already, it had earned the dislike of 10 Downing Street for cutting down Nigeria’s imports from the UK by about 350%. In any case, without the IMF loan, government was still in a bind as to how to finance capital projects and pay for imports, especially spare parts for local industries, food items, etc. At this juncture, the genius and resourcefulness of Buharinomics illuminated to the delight of the African.

First, the administration sent Oil Minister Tam David West to OPEC to seek a raise in the quantity of oil that Nigeria could export. If OPEC agreed, Nigeria would expect to generate extra revenue in the long run from any increase of its oil quota and this would assist tremendously in augmenting the shortfall in the nation’s purse. Professor West came back empty handed—the US and Britain had put pressure on their puppets in OPEC (like Saudi Arabia) to refuse Nigeria’s request.[/b]

[b][size=18pt]Buharinomics - General Buhari’s economic program marshaled out to salvage the nation in 1984 (- - -continued part 5)
[/size]

To counter OPEC’s bluff, the Buhari administration entered into a $2 billion barter trade agreement with four countries.
Nigeria daily bartered 200,000 barrels of oil as follows:

(a) completely knocked down parts for automobiles from Brazil.

(b) Construction equipment from Italy

(c) Engineering equipment from France, and

(d) Capital goods from Austria.

This barter trade took care of the administration’s need to have borrowed money but it intensified the ill will the US and Britain had for Nigeria.

By bartering this oil, Nigeria was:

(a) solving those needs which the proposed IMF loan was geared toward. Doing so without borrowing or feeling the pains of spending the meager amount generated from its OPEC approved 1.3 billion a day oil export is the stuff an economic wizard is made of.

(b) Britain had been cut off as Nigeria’s major supplier of the goods which the countries in the barter agreement sent to Nigeria.

(c) The US usurious money lenders were denied the chance to suck Nigeria dry through the IMF loan.

(d) American and British oil companies were irate that the oil being bartered would flood the oil market, cutting in on their profits.

(e) The oil being bartered was oil that used to be illegally bunkered before Buhari put illegal oil bunkering artist out of business. For once, an African country had put positive economic mechanism in place to salvage its ailing economy without swallowing IMF’s poison pills.[/b]

I think dat buhari is a foolish man by saying dat ,inshort is him an his family ar dogs an baboons , maybe dey 'll sheed dier blood 4 nigeria 2015

Johnbullet1976*:
I think dat buhari is a foolish man by saying dat ,inshort is him an his family ar dogs an baboons , maybe dey 'll sheed dier blood 4 nigeria 2015

ANOTHER SHALLOW BRAIN.

With due respect president GEJ for the past donkey years,you are the worst president this country ever had.Since your assumption in office the acclaimed Africa largest party has been fracmated.You have nothing to write home about.You have succeeded in creating thousands of committee with no results; you have brought chaos, anarchy and hatred among Nigerians.Nigerians have loose confidence in you.I traveled to Bayelsa of recent i thought I would see a new Dubai I am afraid.

ak47mann: @ bolded good that even federal govt can now notice blood thirsty monkeys and baboons living in northern Nigeria ,That is the problem,that is the problem, now they have acknowledge that monkeys and baboons lives among them federal govt should not waste time to silence them,dont worry about their hungry foot soldiers those ones na moi moi

foolish fool, must you quote everything?

felix200: I think most Nigerians still prefer Jonathan to Buhari,,,

Lets face the fact,,,Northernas will never rule again,,, this they know quite alright,,,

Any way,, if they want Nigeria to divide,,, me i dey ready to pack go my Delta state,,,

then blood shed continues