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Nairaland Forum / Nairaland / General / Politics / Yoruba Commonwealth and Politics (690823 Views)
OPC - Faseun & Adams Unite For Security Of Yoruba Commonwealth / SEUN - Re: Yoruba-commonwealth-politics / Goodluck Jonathan Returns From Commonwealth Assignment (photo) (2) (3) (4)
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Re: Yoruba Commonwealth and Politics by omohayek: 10:08pm On Dec 12, 2015 |
tpiar: I'm sure the interviewer knew the right pronunciation - he was just trying to "blow phoneh" ... |
Re: Yoruba Commonwealth and Politics by birdman(m): 10:11pm On Dec 12, 2015 |
omohayek: The issue here is that Nigeria unwisely borrowed during GEJ's term. Letting Naira just rise means we will never be able to pay that debt back, because we borrowed in dollars. The money controls are also keeping bigwigs from laundering stolen cash out of the country, even as it is affecting the common man. Im not suggesting either Sanusi or CBN is right...just that there are more variables that make this far from being simplistic. Buhari's current policy IMO is betting that a low level of indebtedness and recovered loot is a better way to go. Im not necessarily a fan of this, but I see the logic.
You see how much flak GEJ took for trying to remove even a portion of the subsidy? The economic and political pain may just be too much for a country already trying to stabilize. Btw, this is why I am against the #5000 nonsense for youths. Once you start giving freeebies, it is very hard to stop it...stopping subsidy is common sense, but unfortunately the economy is now built to expect it. If you remove it, you WILL wipe out most small businesses. And the last thing you need is another political fight while biafra, bh, corruption are going on If you look at the ECB, Bank of Japan and Fed Reserve, one thing we know for sure is that no one completely knows how to solve economic crises. I would give Buhari the benefit of the doubt here. There are variables that are not obvious to economists that are very obvious to the executive in charge. |
Re: Yoruba Commonwealth and Politics by tpiar: 10:16pm On Dec 12, 2015 |
omohayek: that's probably it. Interesting interview, the Ooni didn't say much about his mum though, also, was wondering about the first 11 days he mentioned, what happened. |
Re: Yoruba Commonwealth and Politics by Funjosh(m): 10:36pm On Dec 12, 2015 |
EkAle ni bi yi o ![]() |
Re: Yoruba Commonwealth and Politics by Aminat508(f): 10:37pm On Dec 12, 2015 |
Ekaale oooooo ![]() |
Re: Yoruba Commonwealth and Politics by omohayek: 10:48pm On Dec 12, 2015 |
birdman: It's true that any private borrowers who have foreign loans will struggle to pay back their debts under a devalued currency, but we have to balance this fact against the reality that a cheaper Naira also means Nigerian businesses will be more competitive on international markets, while Nigerian assets begin to look a lot more tempting for foreign investors. People may say that Nigeria currently doesn't have much by way of exports to benefit from a weaker currency, but if we're ever going to emulate the Bangalore or Shenzhen models, unit labor costs will be a crucial component of the draw for foreign direct investment. China's labor force is both aging rapidly and becoming expensive, and the Chinese manufacturers are already looking for new places to set up shop now that their domestic workers are starting to prefer better paid work, and nowhere in Nigeria is in a better position to benefit from this than the SW, but an overvalued Naira that can't be freely sold for dollars negates the advantages we have. Truth be told, while I think it's important to root out corruption going forward, to ease the cost of doing business and encourage foreign investment, I don't really think any oil money stolen during the Jonathan era is that important, especially when compared to the scale of FDI that we need to attract to attain Asian tiger level growth rates. That's why I think Buhari's seeming obsession with corruption to the exclusion of all else is misplaced - there are more important systemic issues that need fixing (and Fashola is saying all the right things about fixing some of them). birdman: I agree that Buhari's 5,000 Naira pledge was a reckless pledge that will be difficult to remove if it ever becomes unaffordable. I suspect that when he made the pledge, he wasn't really expecting that he'd win the election and actually have to honor his promises. That's the only way it makes sense to me. As for abolition of the fuel subsidies and deregulation of petrol refinement and distribution, I don't doubt that a lot of businesses will be affected by a change to a deregulated regime, but those are only the businesses which are able to get regular, unrestricted access to subsidized oil, and how many small businesses meet such a qualification? Weigh that against the cost to business of having to spend many potentially productive hours queuing for oil, and the cost to worker productivity of the unpredictability of petrol availability, and I'm quite doubtful that as many people will be affected as one might think. The reality is that the biggest beneficiaries of the fuel subsidies are the more affluent city dwellers, as they are the ones who can afford cars and big generators. As politically unappealing as these policies might seem, we Yorubas would potentially be their greatest beneficiaries, just as we benefited the most from telecoms deregulation. The SW could be the first part of black Africa to climb onto the industrialization path that the East Asian countries laid out, but first we have to get rid of populist policies that have strongly discourage investment and growth. 1 Like |
Re: Yoruba Commonwealth and Politics by birdman(m): 11:02pm On Dec 12, 2015 |
omohayek: Spot on. I agree with your analysis, especially that the FDI needed is much more significant than recovered loot. However, corruption is multi-headed in the Nigerian case. The corruption wielded by the Dasuki types is nation destroying - I can understand Buhari's obsession with pruning that as quick as possible. I would not underestimate the capacity of nigerian politicians to fund small private armies. I hope once that is out of the way, let EFCC do its job and not try to throw the baby out with the bathwater just to catch a few thieves.
Fog of war tinz ![]()
I am looking forward to the VP making good on his promises with regards to liberalizing the economy, making it a snap to start businesses etc. If they can do this, I think the amount of wealth creation, especially in the SW will be astounding. Are you a Hayek fan, or is that just a coincidence. |
Re: Yoruba Commonwealth and Politics by omohayek: 11:14pm On Dec 12, 2015 |
birdman: Nicely spotted! Yes, I am indeed a fan of Hayek. I think he said a lot of sensible things, but his reputation suffered unnecessarily because of who some of his other fans were (especially in the United States). If you're interested, William Easterly's book "The Tyranny of Experts" does a good job of rescuing Hayek's reputation. |
Re: Yoruba Commonwealth and Politics by Shymm3x: 12:29am On Dec 13, 2015 |
Anthony Femi Joshua!!!!! Champ!! ![]() 10 Likes |
Re: Yoruba Commonwealth and Politics by tpiar: 12:30am On Dec 13, 2015 |
you don calm down? |
Re: Yoruba Commonwealth and Politics by Ilaje44(m): 7:24am On Dec 13, 2015 |
Afi igba ti won discourage awon omowe ati ojogbon wonyi lati maa jomitoro oro lori itakun yii. Mo ki gbogbo yin sibesibe wipe e ku igbiyanju. Ibere ko loni ise o. E ma dekun lati maa ro opolo nipa bi a se le tun ilu wa se. Alajobi a gbe wa. Aareonakakanfo IlekeHD Modath Katsumoto Shym3x Deola Birdman Omohayek Lagosmayor Firefire 2 Likes 1 Share |
Re: Yoruba Commonwealth and Politics by Funjosh(m): 9:06am On Dec 13, 2015 |
Ilaje44: ![]() ![]() ![]() |
Re: Yoruba Commonwealth and Politics by tpiar: 2:34pm On Dec 13, 2015 |
Ilaje44: Smh. Ajobi on top nairaland. You folks throw heavy curses around so carelessly, one wonders what really the stakes are for you. Jesu ju gbogbo yin lo., fact. |
Re: Yoruba Commonwealth and Politics by Ilaje44(m): 3:23pm On Dec 13, 2015 |
tpiar:Mi o ro wipe o gbadun sha. Ti aja ba ng sinwin, o ye ki o mo oju olowo e ke. Jesu ti o npariwo e yen, se o ti wo e san na? Jesu ko Esu ni. Alarun iganna! 11 Likes |
Re: Yoruba Commonwealth and Politics by hinohsend: 3:55pm On Dec 13, 2015 |
missy89, 1bkay3, 1bkaye, superduperjay, TonySpike, Ritchiee, BlaqCoffee109, mcfarlin, Ioannes, forgiveness, ghostofsparta, dollyak, spicygal, IlekeHD dollyparton1, angiography, honeychild, Femiolarinde, segend, modath, totit, FFKfuckedBIANCA, Shymm3x , tonytony208, OkutaNla, tupacshakur, tevinsolt, yemaldo, katsumoto jaymichael, Scholes0, wizguy69, Rilwayne001, OPCNairaland, Musiwa419, shizzy7, delpee. Laudate, jstbeinhonest,kagawa10,oduastates, iyalode , OAUtemitayo , lagosmayor and the rest..... . YOU GUYS SHOULD COME BACK JOOR...... |
Re: Yoruba Commonwealth and Politics by Nobody: 4:03pm On Dec 13, 2015 |
hinohsend: oh my, oh my. I am very much around o. not going anywhere. how's your Sunday going? |
Re: Yoruba Commonwealth and Politics by hinohsend: 4:31pm On Dec 13, 2015 |
Ioannes: My sunday has been great,it seems u guys perpetually ignoring this thread...i read up what seun did,but, i dont think its enough reason to abandon this thread...seun prob. just felt like reminding us that he's the boss.....nevertheless, u guys shoud come back,this thread gives me joy,i have plans of using this thread to impact positively on yoruba lives,not just online but offline .... This is the sole reason why i visit nairaland....e pada wa ooo. 5 Likes |
Re: Yoruba Commonwealth and Politics by Nobody: 4:35pm On Dec 13, 2015 |
hinohsend: ![]() I will be more active on the thread. no prob. |
Re: Yoruba Commonwealth and Politics by hinohsend: 4:36pm On Dec 13, 2015 |
*Double post. 1 Like |
Re: Yoruba Commonwealth and Politics by Nobody: 5:00pm On Dec 13, 2015 |
Shymm3x: Joshua was born in Watford to a Nigerian mother and a British father of Nigerian and Irish descent. [6] He attended school at Kings Langley Secondary School . [7][8] Amateur career A late starter in the sport, Joshua only began boxing in 2007, aged 18, when his cousin suggested he take it up. His club, Finchley ABC in Barnet , North London, is also home to professional heavyweight Dereck Chisora . Joshua won the 2009 and 2010 Haringey Box Cup. Joshua won the senior ABA Championships in 2010, in only his 18th bout, and later turned down £50,000 to turn professional. "Turning down that £50,000 was easy. I didn't take up the sport for money, I want to win medals." He also went on to win the same tournament the following year. In 2010 his domestic success earned him a place on the GB Boxing team and later the same year he became British amateur champion at the GB Amateur Boxing Championships after defeating Amin Isa. In June 2011 at the 2011 European Amateur Boxing Championships he beat Eric Berechlin and Cathal McMonagle but was stopped by aggressive Romanian southpaw Mihai Nistor after receiving several standing counts. [9] In October 2011 he was named Amateur Boxer of the Year by the Boxing Writers Club of Great Britain. https://en.m.wikipedia.org/wiki/Anthony_Joshua doing us proud. |
Re: Yoruba Commonwealth and Politics by Nobody: 5:18pm On Dec 13, 2015 |
omohayek: hmmmmm... your post is good, though it's a mixed bag for me. I have heard that argument before that Buhari seems to do nothing more than fight corruption. first we need to appreciate that corruption is the major leech sucking the life blood of the country. having said that, I wanna point out a salient fact. buhari inherited a budget from Jonathan's administration and he has had to manage that as best as he can. don't forget that that particular budget was drawn up when our crude was still selling for $100/barrel. Buhari has already gone cap in hand to the National Assembly to ask for funds. How many times before the end of this year do you think he can go again that is if permitted by the constitution anyway. my point is, Buhari's #6 or is it 8 trillion Naira budget for next year is what we should wait for and analyse. we need to see the impact of Madam Kemi Adeosun in that budget. that's when we know that our finances are in the right hands. |
Re: Yoruba Commonwealth and Politics by oduastates: 5:33pm On Dec 13, 2015 |
omohayek: I am sorry to say that you are one like those whose entire arguments is based on economics theories but the lives and wellbeing of their already impoverish citizens are never considered. For 30 naira,you are willing to impoverish the lives of over 100 million people, whose N18000 would all of a sudden become N10000. All this because of the share of a share of forex being round-tripped. Now let me give you an idea of what your prescription did in the 80's. The long term effects of your theory which we are still suffering today. 1 Middle class folk became poverty stricken 2 upper middle class folk disappeared 3 industries and malls closed 4 peak milk became Satchel milk 5brain drain started with many of nigeria's thinking class leaving 6 education started deteriorating 7 area boys became a full time job 8The world left Nigeria behind 9 influx of substandard good 10 Nigeria became a tokunbo country. 11 the rich got richer. All the loot they had stashed abroad fetched more of the devalued naira Abacha maintained,through professor aluko, the most stable currency even though your round tripping was rife throughout his regime. Naira was N80 official but was selling for N120 on the parallel market. It was after Obasanjo got firm hold of the economy and built up the reserves that he allowed market rules of demand and supply to determine the rates. It devalued to N140 and the naira appreciated to N110 at a point. That a few were roundtripping does not mean every one does the same. If that rtpping were as critical, the cabal would simply devalue the parallel market to keep the margin of their scam. Meanwhile, I got more naira for the money I changed last month at the Murtala Airport than from the street. A thorough and competent president will always consider the impact of a policy first and not live the the alternate reality of an economic theorist. Many of the stuffs we waste our limited forex on are either luxuries are mundane stuff which can be easily made at home. It all goes back to the basic necessities of life. Food shelter,clothing and good health. Every other thing is a luxury. I am with buhari for excluding some items for assessing forex. 1 Like 1 Share |
Re: Yoruba Commonwealth and Politics by tpiar: 7:55pm On Dec 13, 2015 |
Ilaje44: you are taking this your ayelala thing too far, you sound like a foreigner. the most you and your cronies can do is arrange another sept 11, you still never pass God and Jesus remains in control, you'd do well to heed him. and stop throwing curses around, e never reach that level. |
Re: Yoruba Commonwealth and Politics by tpiar: 7:56pm On Dec 13, 2015 |
Wbb to translate that crap you typed, i guess you are hyper because you think you are inventing the wheel. |
Re: Yoruba Commonwealth and Politics by Ilaje44(m): 8:34pm On Dec 13, 2015 |
tpiar: I guess the Jesus you are shouting on is a Nigerian isn't it? Mo ji ara re ni. Jesu yi wo mi pe yen, o ti gba re la? Wo je la lo egbogi yi an fun re. Aghinwin! |
Re: Yoruba Commonwealth and Politics by tpiar: 3:55pm On Dec 14, 2015 |
Ilaje44: https://www.youtube.com/watch?v=lNiLiKyAon8 |
Re: Yoruba Commonwealth and Politics by tpiar: 6:22pm On Dec 14, 2015 |
Ilaje44: in case you are not current, look up the meaning of "a ti kaan mo agbelebu". Yet when you look for his grave today, he is not there. Does that tell you anything? ![]() may God help you, you f.ool! |
Re: Yoruba Commonwealth and Politics by nduchucks: 6:25pm On Dec 14, 2015 |
tpiar: what are you people on about? |
Re: Yoruba Commonwealth and Politics by PrincessJaneDoe: 7:35pm On Dec 14, 2015 |
tpiar: You this w.i.t.c.h, you won't leave this thread alone abi. 2 Likes |
Re: Yoruba Commonwealth and Politics by tpiar: 7:37pm On Dec 14, 2015 |
PrincessJaneDoe: |
Re: Yoruba Commonwealth and Politics by zimoni(f): 9:41pm On Dec 14, 2015 |
hinohsend: The Chiefs wanted to take control of the pace of the thread. We got to over 300pages in just one month. They can have the thread now. Now, it's all theirs. 1 Like 1 Share |
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