Blazetrailer:
LOL!!
This government has lost it.

Economy cant stabilise, its is gone for another 20-25 years

Who are the ones advising this man?? Its either his advisers are not being honest with him and giving him wrong advices so they could cash out, or, he is dumb and senile not to understand some implications of the advices, or, he brazenly rejects good advices and sticks to his crude and archaic ideas that can only work in a place like Lagos state where everyone is his lackey and he controls the revenue/expenditure processes from his house. It must be one of these 3.

His audience that he calls the economic advisory committee are his "choir boys" who will sing "on your mandate" for him whenever they meet. The advisory committee lacks real intellectual composition to get Nigeria out of the current socio-economic mess Timubu plunged it to.

Now, this idea of injecting funds into an economy is most useful when you need to boost a flagging economy via increased production, as done in the US in 2008/09 by Obama to fight the global recession and in 2012-2014 by Late President Shinzo Abe of Japan(Abenomics), to resuscitate the dwindling economy of Japan that was having a negative growth. These funds are channeled as stimulants to the productive sectors(manufacturers/agriculture) and then bought back through commercial banks using a specific method called "Quantitative Easing" when the economy stabilises and interests rates have dropped to a certain level. Notice that such stimulus is not pushed to the service or intangible sectors like banking, consulting, financial institutions, etc., because of the belief that growth and recovery can come quicker from those 2 sectors(Mfg./Agric), much faster that other sectors due to their multiplier effect capacities.


Beside those economies being productive ones(large manufacturing base), the idea(stimulus) worked because Japan, USA and those others that tried it successfully were austere in their spending, focused on budget tightening, disciplined in the application of the stimulus, and very strict in ensuring that the recipients complied with the requirements for the stimulus package, and them ready to buy back when interest rates drop, all traits that are far from this Tinubu Govt.

Contrast that to Nigeria where the major driving forces behind the economy are extraction (oil, other mineral resources) and services(banking, bureaucracy, consulting, rent seeking, etc.), with next to zero manufacturing and comatose agricultural sector. The 2 trillion will only further fuel inflation and mess up whatever little gain CBN has had in restraining inflation from blowing to more than 200%. At best, it might end up like the Anchor borrowing of Emefiele/Buhari misadventure. That idea(Stimulus package) can not work in a non productive economy. NEVER!!. A year 2 University economics undergraduate would know this, talk more of a so called" brilliant stategist/ chartered accountant"

In addition, this type of money can only come from one source: Borrowing. As it stands, foreign lenders are reluctant to give more loans to Nigeria because according to IMF, the reforms were not adequately carried out. If this channel of foreign loan is blocked, Tinubu has just the options of either increasing taxes(fiscal) or borrowing from local sources(more debts) or through the much maligned "Ways and Means" they castigated Buhari's administration over. Given the volume of public debt, feared backlash against further taxation(Kenya's case has taught them some lesson),the most feasible option is the "Way and Means" which amounts to printing more currency. if this happens, Zimbabwe's inflation will be a small play compared to what will happen in Nigeria.

Somebody just went to copy a stimulus program from somewhere and gave it to him to regurgitate, and just like he foolishly did with the advice to devalue the Naira, I'm not sure he has asked the right questions.

This Government is so confused, it is fighting itself in terms of economic policies. While the CBN is trying to fight off hyper inflation using various monetary means, the Central government seems to be encouraging inflation through various discretionary spendings, bloated budgeting, etc.

Just like I stated when he decided to devalue the naira and some peole were jubilating calling it "necessary reforms" (they said he was floating it not knoeing they were devaluing the currency in the crudest method, hoping itbwill invite more foreing investment), this policy will backfire and worsen the current situation. It is not well thought out and has been hastily passed on to him to mouth out as if he has any brain or idea how to correct the mess his brazen arrogance and stupidity have put his government and millions of Nigerians.

Nigeria is in a deeper shit with this man. Soon, you all may have to beg Buhari to come back

I totally disagree. At least it's a plan. And it's better than doing nothing than sharing palliatives as if we were at war or in an IDP like we had in his first year. The plan does not have to be perfect but if there's sincerity, it can be improved upon. No idea us perfect but the important thing is to have the right tools to calibrate the idea and make changes as the plan goes on.
The economy needs a stimulus program no doubt about that. Buhari's mistake was handing that responsibility over to the CBN instead of his MoF and his VP who had shown interest in championing such. At least Tinubu has not made that mistake so it's a good start. I agree the package is too small and needs to be targeted. But we can't just throw the baby away with the bath water

Justiceganduje:
Wanna be useful in life? Hurry up ok.

Leave that slave jere, nothing useful dey him body😂

Not sure you understood the implications well. This and the palliatives will give you same result. Borrow and throw the money at unproductive sectors= worsening the current situation.

By the way, Buhari, in refusing to devalue the currency under pressure has been a better manager of the economy than "what" is there now.

Ojuntana:

I totally disagree. At least it's a plan. And it's better than doing nothing than sharing palliatives as if we were at war or in an IDP like we had in his first year. The plan does not have to be perfect but if there's sincerity, it can be improved upon. No idea us perfect but the important thing is to have the right tools to calibrate the idea and make changes as the plan goes on.
The economy needs a stimulus program no doubt about that. Buhari's mistake was handing that responsibility over to the CBN instead of his MoF and his VP who had shown interest in championing such. At least Tinubu has not made that mistake so it's a good start. I agree the package is too small and needs to be targeted. But we can't just throw the baby away with the bath water

Blazetrailer:
Not sure you understood the implications well. This and the palliatives will give you same result. Borrow and throw the money at unproductive sectors= worsening the current situation.

By the way, Buhari, innredusibgvti devakur the currency under pressure has been a better manager of the economy than "what" is there now.

Which of these sectors are unproductive? I need you to educate me pls

“The song of that very important exercise is that a N2 trillion package involving N350 billion funding for Health and Social Welfare; N500 billion funding for Agriculture and Food Security; N500 billion for the Energy and Power sector and general business support of about N650 billion.
“In addition to a range of[b] policy measures and tax measures[/b], there is a range of executive orders which Mr. President has signed and which are being gazetted to[b] ease the cost of doing business[/b] at this particular time”, he said.

The way I burst out laughing after reading this caption 😂

edian:
Experts Please how will this help

If you give your kids lunch money, do you expect to generate profit from that?
You don’t need an expert to know it is a dull plan.

None of them had any good idea. They were just lucky that Nigeria's elections are not usually won on debated ideas or scrutiny of your programmes alone but on religious and ethnic sentiments.

Just like Tinubu stated in his manifesto that he would put in ideas that woukd reduce the exchange rate to N300 to a Dollar, people just swallowed that without somebody asking him how he will do it? If that question had been asked and he mentioned devaluation, he would have been found out immediately that his ideas were just paper ideas ot at best, a wishful thinking.

Did you bother to find out the details of how Atiku will raise the $10bn? By printing more money? Borrowing? Or taxing people more? He just mentioned something and you swallowed it hook line and sinker. No wonder criminals and senile and inept people keep finding their way to power with gullible and shallow minded citizenry like this.

Ojuntana:
2trillion naira at today's rate is a paltry sum less than $2bn. Atiku proposed to inject $10bn in his manifesto. Tinubu wants to borrow that idea but the best he can come up with is $2bn?
I said it before elections that regional sentiments aside, Atiku has the best ideas of the three front-runners

Read my post again, answers are there.

No one is also asking how these funds will be administered. The basic question. People just applaud the nonsense these people throw at them eithiut being critical.

Ojuntana:


Which of these sectors are unproductive? I need you to educate me pls

Blazetrailer:
Read my post again, answers are there.

No one is also asking how these funds will be administered. The basic question. People just applaud the nonsense these people throw at them eithiut being critical.

Well, I read your post and you think the govt is just throwing money at areas that will not yield much benefit to the economy. That's what I summarize from your post. I now ask if those areas highlighted will not yield benefit for the economy.

Secondly, I believe this committee's job is to decide how best to administer the stimulus package. So i think you should just try and remove bias and be objective. Like I said, it's not perfect but with sincerity, the plan can do a lot of good for the economy. My advise to you is if you know any small business owner, they should try and get registered with CAC so they can have the chance of benefitting from whatever is going to be done with the money. Don't just be skeptical with everything.

...shallow

Ojuntana:

Well, I read your post and you think the govt is just throwing money at areas that will not yield much benefit to the economy. That's what I summarize from your post. I now ask if those areas highlighted will not yield benefit for the economy.

Secondly, I believe this committee's job is to decide how best to administer the stimulus package. So i think you should just try and remove bias and be objective. Like I said, it's not perfect but with sincerity, the plan can do a lot of good for the economy. My advise to you is if you know any small business owner, they should try and get registered with CAC so they can have the chance of benefitting from whatever is going to be done with the money. Don't just be skeptical with everything.

Blazetrailer:
None of them had any good idea. They were just lucky that Nigeria's elections are not usually won on debated ideas or scrutiny of your programmes alone but on religious and ethnic sentiments.

Just like Tinubu stated in his manifesto that he would put in ideas that woukd reduce the exchange rate to N300 to a Dollar, people just swallowed that without somebody asking him how he will do it? If that question had been asked and he mentioned devaluation, he would have been found out immediately that his ideas were just paper ideas ot at best, a wishful thinking.

Did you bother to find out the details of how Atiku will raise the $10bn? By printing more money? Borrowing? Or taxing people more? He just mentioned something and you swallowed it hook line and sinker. No wonder criminals and senile and inept people keep finding their way to power with gullible and shallow minded citizenry like this.

1. I'm not sure you read the manifestos of the three candidates. I did. Tinubu never mentioned exchange rate of N300 to a dollar in his manifesto. He mentioned that in a speech not in the manifesto.

2. If you read Atiku's manifesto like I did, you will know he proposed selling of some assets and shares in NNPC to raise the money and he clearly detailed how the money was to be spent, majorly on SMEs which i saw as a very brilliant idea if implemented. Our SMEs getting a $10bn lifeline will catapult the economy immeasurably. One guy here mrvitalis has been advocating that for ages.

3. Again, don't just criticize. At least be informed. Atiku's manifesto was actually written by scholars drawn from world class learning and research institutions and it was really rich in my opinion. Take your time to source for it and read it. N2trn is too small. But if properly managed, i believe it can yield some benefit

Blazetrailer:
...shallow

How do you mean?

..LOL!!

What is the difference in a policy statement and a manifesto In fact, people take the policy statements more seriously than mere programmes shared on the pages of paper. It's the reason that in advanced countries the news focus on statements made at rallies and campaign tours much more seriously. common man, think!!!!!

Sell NNPC and other assets to fund a stimulus ??

No point in engaging you further abeg.

Ojuntana:

1. I'm not sure you read the manifestos of the three candidates. I did. Tinubu never mentioned exchange rate of N300 to a dollar in his manifesto. He mentioned that in a speech not in the manifesto.

2. If you read Atiku's manifesto like I did, you will know he proposed selling of some assets and shares in NNPC to raise the money and he clearly detailed how the money was to be spent, majorly on SMEs which i saw as a very brilliant idea if implemented. Our SMEs getting a $10bn lifeline will catapult the economy immeasurably. One guy here mrvitalis has been advocating that for ages.

3. Again, don't just criticize. At least be informed. Atiku's manifesto was actually written by scholars drawn from world class learning and research institutions and it was really rich in my opinion. Take your time to source for it and read it. N2trn is too small. But if properly managed, i believe it can yield some benefit

Another promissory approach.

Restructuring of nigeria will solve many issues, can't he just go and take the 2014 confab conclusion and take step to apply the outcomes

Starting with reviewing allocation percentage and state police formation


$atanic people

Ojuntana:

1. I'm not sure you read the manifestos of the three candidates. I did. Tinubu never mentioned exchange rate of N300 to a dollar in his manifesto. He mentioned that in a speech not in the manifesto.

2. If you read Atiku's manifesto like I did, you will know he proposed selling of some assets and shares in NNPC to raise the money and he clearly detailed how the money was to be spent, majorly on SMEs which i saw as a very brilliant idea if implemented. Our SMEs getting a $10bn lifeline will catapult the economy immeasurably. One guy here mrvitalis has been advocating that for ages.

3. Again, don't just criticize. At least be informed. Atiku's manifesto was actually written by scholars drawn from world class learning and research institutions and it was really rich in my opinion. Take your time to source for it and read it. N2trn is too small. But if properly managed, i believe it can yield some benefit

nigeria must be Restructured, the main reason I support Atiku, I can see the fire 🔥 burning in him

He has written, spoke and discussed restructuring in many forums

Nigeria can't be governed same way it was when we were 20m now will are over 200m

lereinter:


nigeria must be Restructured, the main reason I support Atiku, I can see the fire 🔥 burning in him

He has written, spoke and discussed restructuring in many forums

Nigeria can't be governed same way it was when we were 20m now will are over 200m

My main issue is if he can be trusted to do what he says. But he has shown a good grasp of Nigeria's socio-economic challenges and practicable solutions since 2019

Blazetrailer:
..LOL!!

What is the difference in a policy statement and a manifesto In fact, people take the policy statements more seriously than mere programmes shared on the pages of paper. It's the reason that in advanced countries the news focus on statements made at rallies and campaign tours much more seriously. common man, think!!!!!

Sell NNPC and other assets to fund a stimulus ??

No point in engaging you further abeg.

So what is wrong in selling NNPC shares and other assets to fund a stimulus? You obviously don't know what you're talking about

lereinter:


nigeria must be Restructured, the main reason I support Atiku, I can see the fire 🔥 burning in him

He has written, spoke and discussed restructuring in many forums

Nigeria can't be governed same way it was when we were 20m now will are over 200m

Restructuring nigeria now won't work

Money that will still be stolen from back door.🤷‍♂️

Injection ko, medication ni

Good one!

After striking Nigeria with great disease by removing fuel/dollar subsidies.

Now you're giving Nigeria injections from the so called money you made from subsidy removal.


Only a fool will believe that Nigeria will ever be good with this fvcking structure.


Release Nnamdi Kanu now!

Continue printing money, Zimbabwe will soon happ to you

Just remove the subsidy on petrol as promised and things will stabilize

Address the issue of energy (fuel), crash petrol and Diesel to #300, and #500 per litre respectively and see the price of everything reversing like a car in an emergency situation.
God, bless Nigeria.

Story for the gods
Enough of this bullshits
Try and error government
Nigeria is a failed state

Na statistics we go chop

Good development to say the fact