A civil society organisation, Rescue Nigerian Economy Project has called on President Muhammadu Buhari to as a matter of urgency redeploy Nigeria’s Finance Minister, Kemi Adeosun to another Ministry in order to save Nigeria’s economy from going into recession.
In a statement made available to Daily Independent on Tuesday, its Executive Secretary, Dennis Alamu- George said Adeosun’s handling of the Finance Ministry since her appointment has proven that she is a rookie who is not qualified to proffer solutions to the myriads of problems confronting Nigeria’s economy.
While also calling on Adeosun to resign honourably if she finds the task too daunting, the group said the minister ” through her inactions in the past few weeks has confirmed the verdict by the Economist that she is poorly qualified to be Nigeria’s Finance Minister”.
“President Buhari does not know Kemi Adeosun from Adam. She was recommended to her by the incumbent governor of Ogun state under which she has served as Commissioner for Finance. From her performance so far, the Minister has proven that the management of Nigeria’s economy is a different ball game when compared to that of Ogun state”.
“While there is lack of economic direction from the federal government, the Minister has not come up with any concrete plan aimed at salvaging Nigeria’s economy, which is in a state of coma. Foreign investors are leaving in droves while millions of Nigerians have had their money stuck in the capital market”.
“If Nigerians can criticise the contents of the 2016 budget and President Buhari has written to the National Assembly seeking its withdrawal, he should also realise the mistake he has made in the appointment of Mrs Adeosun and redeploy her to another ministry as a matter of urgency”.
“If there is any ministry that requires a thoroghbred professional with vast experience, it is the Ministry of Finance. It is not a ministry that anybody should experiment with, especially now that we are grappling with sharp decline in oil prices.Competence should take priority over political affiliations” the group said
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http://dailyindependentnig.com/2016/01/economy-downturn-redeploy-adeosun-finance-ministry-group-tells-buhari/

It is well.

They should also redeploy buhari to efcc chairman and Osinbajo to be at the helm of affairs.

The 5%centers that never wished Buhari as the President nor wish him well are now giving him advice on how to run his government.

Mrs Adeosun must be removed or redeployed to another ministry for the good of our economy. She does not understand the direction of our economic projectile.

I wonder what the President is still waiting for

id911:
Mrs Adeosun must be removed or redeployed to another ministry for the good of our economy. She does not understand the direction of our economic projectile.

I wonder what the President is still waiting for

What exact are you expecting her to do elaborate so I can believe you are an objective critic.

She has to be redeployed just because you don't like her face?

Is she the one that made oil price low, Is she the one that made $ to gain weight against the naira, Is she the one that told our past leader not to invest when we got everything we needed to, Is she the one who told Dasuki to steal our borrowed money, Is she the one that brought economic downturn ni?

Group, go on break.

pharmagba:

What exact are you expecting her to do elaborate so I can believe you are an objective critic.

Guy it's like you don't leave in this country or you don't understand economic indices very well. If you do you won't ask that question

omowolewa:
She has to be redeployed just because you don't like her face?

Is she the one that made oil price low, Is she the one that made $ to gain weight against the naira, Is she the one that told our past leader not to invest when we got everything we needed to, Is she the one who told Dasuki to steal our borrowed money, Is she the one that brought economic downturn ni?

Group, go on break.

For the simple fact that she failed to successfully prepare a national budget even with GEJ and OBJ budget expos...

pharmagba:

What exact are you expecting her to do elaborate so I can believe you are an objective critic.

After that joke of a budget, Buhari or Osinbanjo's head should be the one rolling not this innocent (bewildered) woman.

It was Osinbanjo that said "there would be no coordinating minister of the economy". And they said he is a professor of law. Nigeria's economy is presently a joke.


Meanwhile, Emifiele should be banished to the north-pole

See, we have Minister of Budget a department under MoF but now separated from Ministry of Finance, we have coordinating person for economy.

Budget is not MoF's sole responsibility, we have inputs from different sources/MDAs, we have political policies been interpreted through budget. Remember we are just running a Zero Based Budget for the first time, a policy prescribed even before she became the honorable minister. We have human factors too
We have imported issues which we are still battling with in our nation so we have to take every point at a time.

Hers is to formulate fiscal policies of which she is still gearing on at.


(am responding because we are on social media where anybody can take you serious) Cool down

adconline:

For the simple fact the she failed to successfully prepare a national budget even with GEJ and OBJ budget expos...

but seriously have the country felt any impact from this young mrs finance minister since her job began?

#justaskingtho

but seriously have the country felt any impact from this young mrs finance minister since her job began?

#justaskingtho

I wanna know.

omowolewa:
See, we have Minister of Budget a department under MoF but now separated from Ministry of Finance, we have coordinating person for economy.

Budget is not MoF's sole responsibility, we have inputs from different sources/MDAs, we have political policies been interpreted through budget. Remember we are just running a Zero Based Budget for the first time, a policy prescribed even before she became the honorable minister. We have human factors too
We have imported issues which we are still battling with in our nation so we have to take every point at a time.

Hers is to formulate fiscal policies of which she is still gearing on at.


(am responding because we are on social media where anybody can take you serious) Cool down

"Hers is to formulate fiscal policies she's still gearing on at"? For how long? Do you know our economy is seriously going down south?

Do you people really understand what's happening to our economy at the moment? Everything shouldn't be politicized or done on sentimental ground. The president needs to urgently take another look at the Finance Ministry

Eledan:
The 5%centers that never wished Buhari as the President nor wish him well are not giving him advice on how to run his government.

5% or 97% or whatever that means.. The economy has fell off a cliff and the citizens are in difficulties.

adconline:

For the simple fact the she failed to successfully prepare a national budget even with GEJ and OBJ budget expos...

Kai, you goofed.

There's now a ministry ofbudget planning. This ministry is tasked with planning everything that has to do with budget and medium and longterm expenditures.

I must say though, none of buhari's ministers had a hand in the creation and design of the much maligned 2016. As you may have noticed, none of them is saying anythingabout it cos they know Buhari goofed bigtime. This budget was created by agroup of trusted hands who Buhari picked himself.

Eledan:
The 5%centers that never wished Buhari as the President nor wish him well are not giving him advice on how to run his government.

pdp destroyed naija for 16yrs, n u want them to advice ur olodo president on how to govern?

id911:


Guy it's like you don't leave in this country or you don't understand economic indices very well. If you do you won't ask that question

He asked you a simple question and you about ranting. Answer the question or forever remain silent.
Its too easy to criticize without having a shred of idea of what to do.
Is Nigeria the only country investors are leaving? Investors are not silly. They will take their money to more matured/secure environment (the US economy in this case because the US is just vexing trashing everybody - largely because of the contribution of their sales from oil)
Is it only the naira that is losing value? Have you checked out how mush canadian dollar, austrailian dollar, Rusian ruble, Chinese yen and many more advanced economy have lost to the USD? by your theory, all these countries should also fire their finance ministers abi?

Just provide a solution as you were asked or forever remain silent.

omowolewa:
She has to be redeployed just because you don't like her face?

Is she the one that made oil price low, Is she the one that made $ to gain weight against the naira, Is she the one that told our past leader not to invest when we got everything we needed to, Is she the one who told Dasuki to steal our borrowed money, Is she the one that brought economic downturn ni?

Group, go on break.

wat is the way forward, instead of going to the past..

omowolewa:
She has to be redeployed just because you don't like her face?

Is she the one that made oil price low, Is she the one that made $ to gain weight against the naira, Is she the one that told our past leader not to invest when we got everything we needed to, Is she the one who told Dasuki to steal our borrowed money, Is she the one that brought economic downturn ni?

Group, go on break.

apc said oil will fund just a chunk of the 2016 budget, wat they meant was thateven without oil, nigeria will still survive. so ur reasoning in respect to is it her that said oil shud be 20dolls is rubish.and also is it only oil that we hv as mineral resource in nigeria?
she didnt tell dasuki to still arms money sure, and was arms money meant for the economy? does buying arms equate building bridges or roads?
adeosun is incompetent n super clueless, someone that managed ogun economy even during oil boom but the state govt still required bailout to pay salaries is not fit to manage nigerian economy not to talk of finance.

Okonjo iweala irrespective of whatever is the best person to get us outta this problems now, you can sue her after but she understands finance and economy more that many. She just have to work without anybody harassing her for her to focus.

TheArchangel:
Okonjo iweala irrespective of whatever is the best person to get us outta this problems now, you can sue her after but she understands finance and economy more that many. She just have to work without anybody harassing her for her to focus.

She has been the minister of finance TWICE!!
Where has she led us to?
For me I believe this gov should be given a fair chance to work. I don't even remember the last time we had a budget that didn't rely heavily on oil. Let alone the last time we have a budget that focus more on capital project. Even if the price of oil goes down to $20/barrel, it still won't affect the financing of the budget that much (provided we are able to maintain a reasonable amount of sales).
So when people begin to criticize without giving any peculiar reason and worst still without any solution, it shows they are just being bitter over GEJ's loss

She's incompetent, ill educated and unprepared for such enormous task and hence should be relieved of that post. Her track record as a former ogun state fc leaves noting to desire nor to merit such exalted position as Nigeria finance minister.
The earlier bubu jettison his military-i know it all mentality and nepotism and take soludos advice and appoint somebody competent enough, the Better for him and the rest of Nigeria.

gists:

She has been the minister of finance TWICE!!
Where has she led us to?
For me I believe this gov should be given a fair chance to work. I don't even remember the last time we had a budget that didn't rely heavily on oil. Let alone the last time we have a budget that focus more on capital project. Even if the price of oil goes down to $20/barrel, it still won't affect the financing of the budget that much (provided we are able to maintain a reasonable amount of sales).
So when people begin to criticize without giving any peculiar reason and worst still without any solution, it shows they are just being bitter over GEJ's loss

Well...I proffered my own solution. Ngozi Okonjo Iweala. Both OBJ and GEJ are clueless when it comes to economy and they had to involve NOI. A lot of things distracted NOI but with the dictatorial stance/ demeanor of PMB , i think NOI can work without any political harassments from individuals with perverted vested interest in Nigerian economy.

This will keep happening when political affiliation is given far more preference than competency.

omowolewa:
See, we have Minister of Budget a department under MoF but now separated from Ministry of Finance, we have coordinating person for economy.

Budget is not MoF's sole responsibility, we have inputs from different sources/MDAs, we have political policies been interpreted through budget. Remember we are just running a Zero Based Budget for the first time, a policy prescribed even before she became the honorable minister. We have human factors too
We have imported issues which we are still battling with in our nation so we have to take every point at a time.

Hers is to formulate fiscal policies of which she is still gearing on at.


(am responding because we are on social media where anybody can take you serious) Cool down

My guy, it seems like you never received the memo and that is why you are here trying to teach IPOD wailers and children of hate basic sense. No one takes those guys seriously on NL any more and they are generally ignored because everyone knows they hate Buhari and pretty much everything that moves and is not Igbo. Good luck trying to talk sense to a people only targeting Adeosun because of her ethnic group and not because of reasons which can be borne out by logic. The woman has already announced her solid and sound thinking publicly and any sensible Nairalander or Nigerian would know she cannot perform miracles for where Nigeria finds herself today courtesy of the PDP.

The irony of the matter is that these hateful elements you are wasting your time with are the same folks who supported GEJ blindly for the 5 years he was President and even gave him 100% of their votes to continue for another 4 years yet they are already preaching that Adeosun, only a few months in office, should be removed. Dude, learn what Nairaland is about lately and learn to ignore the children of hate and their impotent rants and ultimatum. Everyone who loves Nigeria is getting on with the job at hand while they are busy trying to settle scores 24/7. How will any sane or objective person ask for the removal of a finance Minister who has only being in office for three months? Is that fair or logical? This alone shows the motivation of those calling for her sack when they rabidly and blindly supported Okonjo Iweala, for many years, while she only made a big mess of Nigeria under GEJ.

gists:

He asked you a simple question and you about ranting. Answer the question or forever remain silent.
Its too easy to criticize without having a shred of idea of what to do.
Is Nigeria the only country investors are leaving? Investors are not silly. They will take their money to more matured/secure environment (the US economy in this case because the US is just vexing trashing everybody - largely because of the contribution of their sales from oil)
Is it only the naira that is losing value? Have you checked out how mush canadian dollar, austrailian dollar, Rusian ruble, Chinese yen and many more advanced economy have lost to the USD? by your theory, all these countries should also fire their finance ministers abi?

Just provide a solution as you were asked or forever remain silent.

Stop mentioning all these countries because even with the severe strain they seem to be experiencing, there are clear policy directions by the managers of their economies to absorb shock and keep them afflot.

Please kindly tell me the ones we currently have or you perpetually remain silent whenever enlightened people discuss issues affecting the welfare of Nigerians

TheArchangel:
Okonjo iweala irrespective of whatever is the best person to get us outta this problems now, you can sue her after but she understands finance and economy more that many. She just have to work without anybody harassing her for her to focus.

Are you for real? Have you been living on another planet for the past 5 years not to know that NOI is a weak-minded and unscrupulous woman who abetted and rubber-stamped all the financial impropriety and recklessness the GEJ government got away with that has now gotten Nigeria into the horrid mess she is in today? You guys are something else honestly.

SAI baba keep on keeping on while the wailers and witch hunters fighters continue to wail!!!

TheArchangel:
Okonjo iweala irrespective of whatever is the best person to get us outta this problems now, you can sue her after but she understands finance and economy more that many. She just have to work without anybody harassing her for her to focus.

Are you for real?... Are you aware that the same NOI was still the finance minister as at May 29th 2015?... Ignorance is no excuse in this matter, go and read about how bad things had already fallen as at the time of handover when oil was even still selling above $60/barrel. You obviously started taking note of how bad things were after the polity had calmed down following handover.

As at the 2nd quarter of 2015, the much touted Nigeria's GDP growth rate had already crashed to 2.3%, that's like it's lowest since 1999. Also in just a few months of the oil price crash (from November 2014 to May 2015), the Naira had crashed from about N170 to $1 to about N220. I wouldn't want to mention the steady decline in the nation's forex reserves within this same period and the fact that as at February/March 2015, even the FG had to borrow money to pay common worker's salaries. It was also within this same period that the FG could not pay subsidy arrears (since August 2014) and that led to the fuel scarcity we had in May 2015 and also the most recent fuel scarcity because even the new government delayed in paying off those debts. Now within this period in view, oil prices still sold above $60/barrel and you really think NOI was such a miracle worker?

Make I find trouble small.. Yoruba women are very very clueless and incompetent, so I'm not surprised

TheArchangel:
Okonjo iweala irrespective of whatever is the best person to get us outta this problems now, you can sue her after but she understands finance and economy more that many. She just have to work without anybody harassing her for her to focus.

The same incompetent NOI that partly got us into this problem? Seriously, what's wrong with some of you? She managed the economy when oil sold for over $100 and still, we have nothing to show for it and here you are advocating for her to come back again.

Kemi and the present economic team are doing a great job. With time, the economy will witness a turn around.