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Nairaland Forum / Nairaland / General / Politics / Is Kemi Really Ripe For Finance Minister? (6130 Views)
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Re: Is Kemi Really Ripe For Finance Minister? by Saturn213: 10:03pm On Nov 12, 2015 |
mekaboy: 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. 2 Likes |
Re: Is Kemi Really Ripe For Finance Minister? by mekaboy(m): 10:21pm On Nov 12, 2015 |
Saturn213: 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. 4 Likes |
Re: Is Kemi Really Ripe For Finance Minister? by kingsman66(m): 10:56pm On Nov 12, 2015 |
I believe she can perform base on her record in ogun state as commissioner for finances so she know how to kick the ball |
Re: Is Kemi Really Ripe For Finance Minister? by Kulas: 11:11pm On Nov 12, 2015 |
She is not.IF we must tell ourselves truth n keep politicking n tribal sentiments apart,that sensitive position is too big for her.I was surprised she was given such.She knows nothing and no experience to handle such.Politics everywhere! 1 Like |
Re: Is Kemi Really Ripe For Finance Minister? by idupaul: 11:16pm On Nov 12, 2015 |
No matter how unprepared Kemi is , I am sure she will be light years better than that thieving looting criminal pig called Ngozi Okonjo Iweala who alone was the bad architect that led GEJs govt to hell |
Re: Is Kemi Really Ripe For Finance Minister? by Nobody: 12:20am On Nov 13, 2015 |
Ballmer:Who dragged the FG to court because they wanted to share money from the ECA? 1 Like |
Re: Is Kemi Really Ripe For Finance Minister? by Ballmer: 7:16am On Nov 13, 2015 |
ofenmanucom: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 ? |
Re: Is Kemi Really Ripe For Finance Minister? by Ballmer: 7:28am On Nov 13, 2015 |
mekaboy: 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 ? |
Re: Is Kemi Really Ripe For Finance Minister? by banki(m): 7:43am On Nov 13, 2015 |
@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? 1 Like |
Re: Is Kemi Really Ripe For Finance Minister? by porka: 8:17am On Nov 13, 2015 |
This finance minister pick is making everything looks gloomier. There's no single excitement in the market. The international financial community doesn't seem to know what direction her appointment will lead to. Some are already suggesting she would be under under Udo Udoma. Even Kemi herself said her co-commissioners find it difficult to belief she's a commissioner during FAAC meetings. And to add salt on injury, there's already an ineffective CBN governor who is experimenting his classroom theories using over 140m lives as guinea pigs. The combination of the current CBN governor and Kemi is scary for Nigeria's economy. It's in the best interest of everyone for Kemi to be redeployed as Minister of State - Finance, to oversee monthly FAAC meetings so that someone with better understanding of the precarious economic situation would take charge. Let Buhari and her other godfathers spare Nigerians of the imminent trial and error economic direction. Five months is already wasted. 2 Likes |
Re: Is Kemi Really Ripe For Finance Minister? by porka: 8:27am On Nov 13, 2015 |
Ballmer: It's about the constitutionality of the account. They started the agitation from Obasanjo time with Bukola Saraki as the arrowhead. They started sharing during Yaradua's administration. You are overrating Buhari, no single Nigerian president can withstand the governors when they are united. Ibori and Kalu plotted to remove Obasanjo and install Atiku until he begged them. 1 Like |
Re: Is Kemi Really Ripe For Finance Minister? by thundafire: 8:59am On Nov 13, 2015 |
ask OBJ cs dat man mission to ASO VILLA always will nw rest cs him person dy hold dy economy nw |
Re: Is Kemi Really Ripe For Finance Minister? by porka: 8:59am On Nov 13, 2015 |
banki: banki, there are more than 100 other better qualified youths to choose from, that is if our problem is youth based. By saying there are people on the background to direct her, you are already admitting her deficiency. Taking orders from any 'cabal' will put Nigeria in serious mess. There's nothing wrong if she understudies someone for now. She has started work already. It's 3 days now since she was sworn-in and no TANGIBLE statement from her on even the least issue in the economy. |
Re: Is Kemi Really Ripe For Finance Minister? by porka: 9:12am On Nov 13, 2015 |
Ballmer: 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? |
Re: Is Kemi Really Ripe For Finance Minister? by Ballmer: 9:42am On Nov 13, 2015 |
porka: I meant in terms of being able to assert herself. I knew she was already with the world before becoming a minister but she grew from pulling strings behind OBJ to being able to assert her control n influences during Jonathan not that she was nowhere career wise. The lady should be allow to grow as well. |
Re: Is Kemi Really Ripe For Finance Minister? by mekaboy(m): 9:47am On Nov 13, 2015 |
porka: After reading his comment especially the part that said she started from nowhere under obasanjo, i knew he was ignorant i did not have strength to lecture him for free. Now for emefiele of cbn. He is trying to land a smoking plane without a co pilot. His policies are the only options available apart from devaluation. Buhari as u know must have told him to do anything possible not to devalue the naira like he did in 1985. If the governors listened to iweala and saved, we wld have had enough in the reserves to cushion the effect a little longer to put things in place. If that happened, the harsh policies of cbn will not come at once but gradually, people will then have time to adjust. Also the lack of policy by buharis govt left evryone including foriegn and local investors confused. The current exchange rate of 197 is artificial, they are trying to use the policies to make it a reality . However i think whatever m3asures they are taking is better than devaluation. |
Re: Is Kemi Really Ripe For Finance Minister? by Nobody: 9:58am On Nov 13, 2015 |
okonjo who could not manage the economy when crude sold for $100/barrel. I don't know why people keep worshipping this woman. she is the reason Nigeria is heading towards recession right now. shame! shame!! shame!!! Kemi Adeosun will deliver where NOI failed. |
Re: Is Kemi Really Ripe For Finance Minister? by yem0312(m): 10:42am On Nov 13, 2015 |
@ op and the likes, I am at first surprised that you are still not only defending but also glorifying a distinguished failure.However, I can see that your Enamalah could not get it. Therefore , your recourse to bellitle Adeosun. Know this, she will deliver and succeed. |
Re: Is Kemi Really Ripe For Finance Minister? by dokunbam(m): 10:49am On Nov 13, 2015 |
Ballmer: Good one here Let Kemi try her best first Though I will prefer Soludo |
Re: Is Kemi Really Ripe For Finance Minister? by Nobody: 11:24am On Nov 13, 2015 |
Ballmer:Dont be daft! Our democracy is seriously evolving. What was obtainable during Obj era cannot happen now. During Obj administration there was no Governors Forum for instance. Things are changing. 1 Like |
Re: Is Kemi Really Ripe For Finance Minister? by wytecat: 11:26am On Nov 13, 2015 |
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. mekaboy: |
Re: Is Kemi Really Ripe For Finance Minister? by 1wolex85: 11:28am On Nov 13, 2015 |
mekaboy: Do you save when you have infrastructure deficit or you invest in infrastructure to attract investment? |
Re: Is Kemi Really Ripe For Finance Minister? by mekaboy(m): 9:37pm On Nov 13, 2015 |
wytecat: Why not arrest her or invite her for questioning if your sure about the missing billions. The change is here, so no sacred cowes. 1 Like |
Re: Is Kemi Really Ripe For Finance Minister? by mekaboy(m): 9:48pm On Nov 13, 2015 |
1wolex85: 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? |
Re: Is Kemi Really Ripe For Finance Minister? by 1wolex85: 10:59pm On Nov 13, 2015 |
mekaboy: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. |
Re: Is Kemi Really Ripe For Finance Minister? by mekaboy(m): 8:59am On Nov 15, 2015 |
1wolex85: 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. |
Re: Is Kemi Really Ripe For Finance Minister? by 1wolex85: 10:58am On Nov 15, 2015 |
mekaboy: 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? |
Re: Is Kemi Really Ripe For Finance Minister? by mekaboy(m): 11:24am On Nov 15, 2015 |
1wolex85: 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 ? |
Re: Is Kemi Really Ripe For Finance Minister? by 1wolex85: 1:39pm On Nov 15, 2015 |
mekaboy: Is the excess crude account legal? Is the aim of a developing country to grow reserves? There is also the issue the trust, the govs dont trust the feds to use the funds judiciously, they also believe the money will 'disappear'! Investors do not need you to have a lot of reserves for them to come, they are looking for opportunities combined with the right infrastructure that would enable them exploit those opportunities to make profit. Apart from issues of multiple taxation, bureaucracy, corruption et al, the biggest issue that can chase investors is lack of infrastructure to support their businesses. We can keep going back and forth, but not saving the excess crude cash is not fundamental to the issues affecting our economy. Money in the bank is useless if you have a need and you ignore it simply because that need 'may' not be met due to corrupt officials. |
Re: Is Kemi Really Ripe For Finance Minister? by ekseel(m): 2:02pm On Nov 15, 2015 |
maupe: Did you deliberately omit the fact that she worked with PWC in the UK and rose to Senior Manager before coming to Nigeria or you are ignorant of that fact... Also why not wait for her to fail before you call the appointment a big mistake, judging the book by the cover that led our economy to where it is now with your "influential" NOI. Finally, you also portray your Nigerian mentality that "we need people who know people in high places"... WRONG. We only need competent hands and a serious government with good vision and policies. When you are competent, you earn the respect of people and become influential. Give the "YOUNG" "WOMAN" a chance before you people castigate her. Doubting Thomas! lest I forget, don't famz her with your "Aunty Kemi" because am sure you don't know her. 1 Like |
Re: Is Kemi Really Ripe For Finance Minister? by wytecat: 2:09pm On Nov 15, 2015 |
She is NOT out of the wood yet, makan makan ni oye nkan! It's turn by turn, and when it's her turn to go in the slammer, no purchased job from GAVI or any other place can save her. mekaboy: |
Re: Is Kemi Really Ripe For Finance Minister? by IbokUtoroh(m): 2:11pm On Nov 15, 2015 |
ayindejimmy:and who told u akwaibom needed bailout from the illiterate? Ogun with muchmore industries than plenty states shud hv been bailing states like osun, oyo, plateau, ekiti, benue out but was on the forefront looking for bailout. Demons everywhr, illiterates everywhere, zombies everywhr. |
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