mekaboy:


You get the picture. There will certainly be a reshuffle.

Saturn213:


On the basis of what will there be a reshuffle? You have a Chrystal ball and you have concluded that she will fail?

I understand the idea behind your skepticism but when you use words like "there will certainly be a reshuffle", it shows you did not open the thread with a bias free mindset.

Personally, I am not comfortable with her too. Not because she attended a glorified secondary in London but because I just don't know her enough to make a judgement. I have heard her speak and she seems to have a conservative approach to public finance, however she also comes across as flexible and ready to utilise innovative methods in solving problems.

Contrary to popular perception, Solving Nigeria's economic problems is not rocket science. We have a lot of advantages like human/ natural resources, market and a base to become to next China. What we need are structural changes. A situation where over 50% of senior public officials are richer than the President of the US can and will not enable Nigeria achieve her potentials.

Economic progress is no longer dependent on mundane concepts or wizardry in financial modelling. What is needed is a full commitment to effect change and lay a framework that all economic actors have to abide by.

A good sign is the proposed restructuring and diversification of the economy. The reliance on oil proceeds and importation has destroyed the Nigerian economy. In the US and Europe, farmers are wealthy and contribute to the productivity of their nations. African farmers face a lot of discrimination and unfair practices by their wealthier counterparts. When will Nigeria start challenging this status quo?

GEJ tried to galvanise the Agric sector into action but as always, corruption became a bottleneck.


I like the noise from the administration, but it all depends on the implementation.

Ballmer:
blaming everyone else but the guilty does make her a saint

Was it the governors that were praised for the excess crude saving during Obj era ? If they are not why should they now be blamed when the account got depleted under Okonjo ? Think before making an argument.

ofenmanucom:
Who dragged the FG to court because they wanted to share money from the ECA?

mekaboy:


First you have to understand where Nigeria is at the moment. Revenue droped by 4% inflation 9% unemployment on the rise. Deficit on 2015 budget. That alone is enough for one to be worried. Not to talk of fleeing investors and it effect on our economy.

Then you talk about the powerful cabal that GEJ spoke about. PMB said he will fight corruption to stand still. He belongs to nobody and belongs to Everybody.

Today the langauge is changed. He is now talking about the same powerful Nigerians.

Now there is a level of confidence you have when you have worked with highly respected world organizations like world bank. This enables you confront some of the corrupt cabals without fear.Even though NOI mother was kidnapped to subdue her zeal.

Secondly you are exposed to contacts that can point investors your way.

Now Still under the no nonsense PMP REMITA still collected over 25billion as commision for the TSA.

Can Kemi comfront the cabal or will she consult Tinubu in decision making? Can she influence foriegn investors to come in?

At this critical stage of the economy, can Nigeria survive and experiment?

I have weighed her qualification and experience against the challenges facing this nation today and found her wanting.

Let me pray i am wrong.

Ballmer:
Did the court ask the money to be shared or how am I to blame for the failures of a weakling and his minister ? How my governs dare such under OBJ and how many governors will dare that under Buhari and how many even dare that under Yar'dua ?

banki:
@op
So did nigeria under okonjo iweala not borrow money this year to pay salaries?

The same people want a younger generation to take over, the same people critisize her before she even starts work, are you aware that there are a lot of people in the background that you won't see?

Ballmer:


You do not have to pray that you are wrong. You are totally wrong. Okonjo started from no where under Obj until she was able to assert herself. We are talking about a former commissioner of finance here. What investment did Okonjo bring into the country ? When the Europeans n Americans were afraid to invest in Nigeria and OBJ had to solicit investors from South Africa with the coming of Shoprite, MTN n co what investment did Okonjo bring from the world bank ?

porka:


lol...

Okonjo-Iweala was already a VP in the World Bank Group before she joined Obasanjo's government. You are not saying that is proportionate to Ogun State commissioner for finance, are you

porka:


lol...

Okonjo-Iweala was already a VP in the World Bank Group before she joined Obasanjo's government. You are not saying that is proportionate to Ogun State commissioner for finance, are you?

BTW Emefiele was the MD of Zenith Bank before his appointment, are you happy with the monetary policies now?

Ballmer:
Igbo OP I guess if tomorrow Okonjo Iweala dies tomorrow Nigeria will have to die follow her.

We're there no finance minister before her and please what exactly is the achievement of Okonjo in finance ? Was that not the woman that told us to buckle our seat belt Less than 3 months into the fall of crude prices after almost 4 years of crude sale at over $100 ?

I would rather we bring back Soludo who pioneered the economy when countries like Spain UK went down the drain. I am yet to see a single thing NOI achieved as a minister exception her supervision of the plundering of the country's finances.

Ballmer:
Did the court ask the money to be shared or how am I to blame for the failures of a weakling and his minister ? How my governs dare such under OBJ and how many governors will dare that under Buhari and how many even dare that under Yar'dua ?

mekaboy:


The role of finance minister is mostly to advice. She had no power to stop governors from sharing the funds in the excess crude account if they decide.

Didnt u follow the events between her and governors then?

mekaboy:


Dont get me wrong this is not a tribal issue. Because money matters affect every Nigerian.

This is about experience. yes ogun is not the only state, but i expect that the person that will handle the finance of the nation will use his or her state resources as an example. Since she was opportuned to handle the state finances.

Okonjo warned governors of both pdp and apc of the importance of saving for the rainy day. They all said they wanted to share the excess crude funds. Iguess most of them used for campaigns.

Find out how much was saved from weeding out ghost workers using biometric verification.

Find out how much less we paid in subsidy. etc.

She adviced against subsidy and Nigerians wanted to kill her and Gej. Today sanusi is saying it should be removed.

That our economy is standing at all on one leg today is because of the policies she managed to implement, if not...

Investors are already deserting Nigeria and Kemis profile wont boost investors confidence.

Soon you will hear that her ministry is spending billions on consultancy without anything to show.

wytecat:
What about the missing billions under Ngozi okonjo iweala?

Only foolish Yoruba would join you in this thread to talk about what you know nothing about especially when your overrated sister almost destroyed the country, and you are writing this from a place of pain that Yoruba is in that position now.

She has to be tried first. No one knew what we were getting ourselves into under Ngozi Okonjo-Iweala when we brought her in, and no other finance minister can be worse than her.

1wolex85:


Do you save when you have infrastructure deficit or you invest in infrastructure to attract investment?

mekaboy:


You invest in infrastructure like the abandoned rail project amechi wasted billions on. Or upgrade websites with 78m to attract investors.

If they have not shared the money, the pressure would not have been much on the naira to be devalued.

They used the money for campigns, cant see the infrastructure.

So where are the lnvestors they attracted? The ones leaving or calling for devaluation?

1wolex85:

Guy, calm down, why the harsh tone?You do not seem to get the point of my post, I am in no way justifying the misuse of funds. Ideally, it is not sensible to save when you have huge infrastructure deficit. Will you keep money in the bank when your family is hungry? We are talking economic policy here and not whether the Govs use it judiciously or not. You can as well say we should save all our income since the Govs will 'eat' the money anyway.
Your mind was already made up before you opened the thread so I wonder why the question mark in the topic giving the impression you wanted to stir up a debate.

mekaboy:


I am calm, we r just discussing. Your mad was already made up that my mind was already made up before u commented on this thread.

I am saying between saving as adviced and the so called infrastructure deficit the money was spent on, i think the saving wld av been better.

1wolex85:


You have the benefit of hindsight! We can't continue to say because of the risk that the money won't be used judiciously, we just keep it in the bank when we have glaring NEEDS! Our focus needs to be on fashioning out ways to ensure public funds don't go into private pockets. I know NOI went to Havard and all, but saving money when you have serious needs and not wants just doesn't make any sense to me at all. If I ever get to meet her, that is question I would like to get clarity on. I will also like to ask her, how an economy which in her opinion would have crashed in 2012 if subsidy payments were continued, moved to being very buoyant as was said during the campaigns earlier this year.

Lastly, I don't understand what you mean by, 'so called infrastructure deficit'. Are you saying our infrastructure deficit which is glaring to the blind should take a back seat?

mekaboy:


You keep talking about infrastructure deficit as if excess crude funds are meant for infrastructure. Every country has a reserve, this ensures they stay afloat in times like this.

Every state gets their normal allocation which they should use for whatever infrastructure needs. They could also have ppp projects to tackle that.


The aim of countries with vision is to grow their reserves. Investors will take u more seriously if u have enough in your reserve.

Will a bank give a loan to someone who is broke? Do you know that Nigeria will have to pay more for loans as investors dump our bonds?

We have always had infrastructure deficit that is why ppp is encouraged.

Now the reserves are down and the infrastructure deficit is still glaring. So whats the use of sharing the excess funds that could be used to boost our currency ?

maupe:
Despite the fact that Kemi is my big sister, I have to be truthful and honest. Aunty Kemi has only a first degree in economics from the University of East London, not even Oxford or Cambridge or even Kings college. She was initially an investment banker in Lagos before being made the commissioner for finance in Ogun state. She has no clout in the international business world and little or no contacts. To nominate her as a successor to NOI, is a big mistake, for those are shoes to big for her to wear. Also, these are perilous times for experimentation. In the wake of the JP Morgan delisting and the inevitable Barclays followup, what we need is someone who has friends in high places and can liase with these institutions for a common ground, Aunty Kemi does not have such influence. This was a mistake by the President. I won't be surprised if there is a cabinet reshuffle six months down the line.

mekaboy:


Why not arrest her or invite her for questioning if your sure about the missing billions. The change is here, so no sacred cowes.

ayindejimmy:
First, you can't take Utomi and take Kachikwu.
Secondly, what did Okonjo-Iweala' s do for us. PDP left the mess for APC to clean... And that got people blaming Buhari in just 5 months.

To answer the Ops. If we give her the leverages, she'll perform.
Ogun is not the only state that needs bail out.
What's Akwa Ibom business with bail out fund?