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Financial Times calls Nigeria's economic approach the height of foolishness - Politics (2) - Nairaland

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Re: Financial Times calls Nigeria's economic approach the height of foolishness by InyinyaAgbaOku(m): 10:26pm On Jan 22, 2016
omohayek:


The true mark of cluelessness is blaming Kemi Adeosun for two areas of policy over which she has no control. It takes real ignorance to blame the finance minister for an FX policy which is actually set by Godwin Emefiele, the head of the CBN; she also had no hand in the NSE's difficulties, as the CEO of the Nigerian Stock Exchange is a man named Oscar N. Onyema.
But you guys were shouting NOI up and down during her time.

26 Likes 3 Shares

Re: Financial Times calls Nigeria's economic approach the height of foolishness by doctokwus: 10:26pm On Jan 22, 2016
chukwudi44:


Kemi Adeseoun is the leader of the Buhari's economic team
Central bank is an independent institution in nigeria ,the reason why Emefiele can wake up one day and announce absurd policy measures.
Be that as it may,i am not saying adeosun is showing any sign of competence herself.Till proven otherwise,i still think she is not suited for the post of the finance minister.

1 Like

Re: Financial Times calls Nigeria's economic approach the height of foolishness by SMARTKOSSY: 10:30pm On Jan 22, 2016
Chubhie:

We all have friends,colleagues,families who for some reasons beyond logic gets enchanted once sai baba is echoed yet face same harsh economic realities with us. maybe a sexy thunder can do the trick?

I know demdem is already getting excited with having a thunder romp.
lolzzzz thunder romp

2 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by omonnakoda: 10:30pm On Jan 22, 2016
People just spout hot air without any understanding of how economies work.

There is one reality that has existed for the last 7 years many so called investors were able to borrow from the fed at zero interest rate and double their money in the the Nigerian Stock market in double quick time. As long as policies existed that allowed them to round trip their money Nigeria was a darling.

Well the party is over. We need long term investors who will invest in Nigerian rail and roads and Hospitals not the stock market. Dangote is doing a good job but we need more of him.

These so called investors are fighting back with all the tools at their disposal. The government must be resolute. Why are they also fleeing from their own stock markets.

Does anyone imagine that an economy with no electric power or manufacturing base will not suffer significant pain when its main FOREX earner disappears. There is still a lot of pain ahead and that is the case ALL OVER the world. In the case of Nigeria even more because we are so import dependent. The solution is not to be panicked but to be resolute.

Why do these people seem to love Nigeria even more than Nigerians?

Even if oil were to return to $200 tomorrow we should still pursue diversification and import restriction. You do not create jobs by importing

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Re: Financial Times calls Nigeria's economic approach the height of foolishness by omonnakoda: 10:34pm On Jan 22, 2016
doctokwus:

Central bank is an independent institution in nigeria ,the reason why Emefiele can wake up one day and announce absurd policy measures.
Be that as it may,i am not saying adeosun is showing any sign of competence herself.Till proven otherwise,i still think she is not suited for the post of the finance minister.
Any person is more suited than the last one. Any person is an improvement on the last one who received MORE OIL REVENUE THAN ANY FINANCE MINISTER IN AFRICAN HISTORY and failed to save for the rainy day. She ran on the Federal side budget deficit after deficit borrowing for unproductive schemes like Abuja light rail and so on. A complete disaster

Instead of facing her failings she blames state governors for her failure to save THE FEDERAL GOVT SHARE OF EXCESS CRUDE ACCOUNT which she spent without appropriation

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Re: Financial Times calls Nigeria's economic approach the height of foolishness by InyinyaAgbaOku(m): 10:38pm On Jan 22, 2016
doctokwus:

He has a tenured post and there is sth like the senate having to approve his sack,if i am not mistaken.Besides,his ethnic group presents another challenge.
But,pmb is just unnecessarily postponing the inevitable.
Just like the govt seems to be dillydallying with GEJ's arrest,emefiele has several reasons to have been sacked since yesterday:gross incompetence and his involvement in the sleazes under the GEJ govt. If there is one cbn gov that has failed in all aspects of central banking,its Emefiele.Why he remains there is known only to the govt.
To avoid cries of victmization,another Igbo can be appointed and there are countless more competent ones than Emefiele.
If thats the case, igbos have a robust size of economists.
Soludo is a good example. He is more sound than emefiele, tested and trusted. Kemi should go as well

2 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by InyinyaAgbaOku(m): 10:39pm On Jan 22, 2016
doctokwus:

Central bank is an independent institution in nigeria ,the reason why Emefiele can wake up one day and announce absurd policy measures.
Be that as it may,i am not saying adeosun is showing any sign of competence herself.Till proven otherwise,i still think she is not suited for the post of the finance minister.
She is not an economist, she studied accounting

2 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by doctokwus: 10:50pm On Jan 22, 2016
InyinyaAgbaOku:

She is not an economist, she studied accounting
Makes no difference.
The most recent secretaries of treasury of the U.S. have been attorneys,so her field of study has no relationship with her being competent or not for the office.

1 Like

Re: Financial Times calls Nigeria's economic approach the height of foolishness by omohayek: 10:52pm On Jan 22, 2016
InyinyaAgbaOku:

But you guys were shouting NOI up and down during her time.

"You guys"? If you bothered to check my profile, you'd see that I've actually defended Okonjo-Iweala against ignorant attacks in the past. Then again, unlike some people, I'm willing to recognize people for their individual merits, rather than turning every discussion into an opportunity for tribal point-scoring.

1 Like

Re: Financial Times calls Nigeria's economic approach the height of foolishness by Nobody: 10:52pm On Jan 22, 2016
This gov't is like a fisher man whose boat is sinking, and instead of trying to save the boat from sinking first he is busy trying to re-catch the fishes that escaped from the boat.

My people, between saving the economy from collapsing and trying to recoup stolen funds, which one should have been the number one priority of this administration?

6 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by Emekamex(m): 10:54pm On Jan 22, 2016
It seems someone somewhere is limiting the power of the Finance Minister. She should be convincing investors on reason to invest in Nigeria at every given opportunity, not keeping mute and being totally unnoticeable in the eye of the public.

6 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by InyinyaAgbaOku(m): 10:54pm On Jan 22, 2016
omohayek:


"You guys"? If you bothered to check my profile, you'd see that I've actually defended Okonjo-Iweala against ignorant attacks in the past. Then again, unlike some people, I'm willing to recognize people for their individual merits, rather than turning every discussion into an opportunity for tribal point-scoring.
I wasn't talking about noi as an Igbo but as a former minister of finance.
I think we need a better minister of finance
Re: Financial Times calls Nigeria's economic approach the height of foolishness by omonnakoda: 10:55pm On Jan 22, 2016
The last government was an economic disaster despite enjoying the HIGHEST OIL REVENUE IN NIGERIAN HISTORY we have nothing to show for it. We had elections and they were BOOTED out. We have a new government. Ideally I would prefer not to have Buhari but he won and has 4 years to work. His Ministers have been in office 3 months and he has not even passed his first budget. To judge him we must be fair and patient.What I see is unbridled hatred of those who fail to accept that the elections are over and seem to be praying for him to fail. This is shameful and irresponsible. In order to judge him fairly we must allow one full budget cycle to run
The issue of Finance Minister is the height of pettiness. Since when did Finance Ministers become so important in Nigeria?? That only happens when a president is clueless and abdicates his responsibility. I thin Obasanjo said it all when he said the last person needed supervision which Jonathan failed to do and created this irresponsible role of coordinating Minister.
In a presidential system. Ministers serve at the pleasure of the President unlike in a parliamentary system. There are more important and impact-ful ministries in this system of government.
The Finance Minister is NOT meant to be that powerful and I think we are now returning to normalcy

7 Likes 2 Shares

Re: Financial Times calls Nigeria's economic approach the height of foolishness by omohayek: 10:55pm On Jan 22, 2016
NavierStokes:


1.Making a reference to him as "my brother" has got nothing to do with ethnic affiliations but rather as one human to another.
2. The economic policies being brandished by this administration has all been synonymous with cluelessness.
3. I am afraid your responses are coming across as bigoted from the way youtried to shift blames to emefiele and onyema and attempting to shield the finance minister from attacks.
4. My brother do not be intransigent and assert that I am incredible because of differing opinions. The message was delivered exactly "as is" from the source.

No, on the contrary, it's your response that betrays blatant tribalism, rather than any interest in the objective facts. If you're going to blame people for bad policies, why not blame those actually responsible making the policies you're criticizing? That Emefiele and Onyema are responsible for the CBN and the NSE respectively are facts, not tribal attacks. Ignoring said facts, on the other hand, and blaming someone who has nothing to do with the policies, is in fact tribalism of the crudest and most ridiculous kind.

7 Likes 1 Share

Re: Financial Times calls Nigeria's economic approach the height of foolishness by InyinyaAgbaOku(m): 10:56pm On Jan 22, 2016
doctokwus:

Makes no difference.
The most recent secretaries of treasury of the U.S. have been attorneys,so her field of study has no relationship with her being competent or not for the office.
Well, she doesn't know the job obviously and deserves sack.soludo or a tested economist irrespective of origin should replace her.

1 Like

Re: Financial Times calls Nigeria's economic approach the height of foolishness by omonnakoda: 11:00pm On Jan 22, 2016
The person who did not know the job and who deserved sack was the clown who resumed in August and January presented a budget with a more than tripled petrol subsidy as her very first budget and was unable to explain the leap.
The person who received more oil revenue than any Finance Minister in African history and still ran a budget deficit EVERY YEAR

4 Likes 1 Share

Re: Financial Times calls Nigeria's economic approach the height of foolishness by OfoIgbo: 11:06pm On Jan 22, 2016
omohayek:


The true mark of cluelessness is blaming Kemi Adeosun for two areas of policy over which she has no control. It takes real ignorance to blame the finance minister for an FX policy which is actually set by Godwin Emefiele, the head of the CBN; she also had no hand in the NSE's difficulties, as the CEO of the Nigerian Stock Exchange is a man named Oscar N. Onyema.

****

Kemi Adeosun the clueless, is in charge of Nigeria's fiscal policy. The failure of Kemi in strengthening the fiscals of Nigeria has limited the bullish scope our financial directors can operate under.

Another case in point is the preparation of the budget which she has bungled, stolen, replaced. She is a stark illiterate

7 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by Nobody: 11:27pm On Jan 22, 2016
omonnakoda:
The last government was an economic disaster despite enjoying the HIGHEST OIL REVENUE IN NIGERIAN HISTORY we have nothing to show for it. We had elections and they were BOOTED out. We have a new government. Ideally I would prefer not to have Buhari but he won and has 4 years to work. His Ministers have been in office 3 months and he has not even passed his first budget. To judge him we must be fair and patient.What I see is unbridled hatred of those who fail to accept that the elections are over and seem to be praying for him to fail. This is shameful and irresponsible. In order to judge him fairly we must allow one full budget cycle to run
The issue of Finance Minister is the height of pettiness. Since when did Finance Ministers become so important in Nigeria?? That only happens when a president is clueless and abdicates his responsibility. I thin Obasanjo said it all when he said the last person needed supervision which Jonathan failed to do and created this irresponsible role of coordinating Minister.
In a presidential system. Ministers serve at the pleasure of the President unlike in a parliamentary system. There are more important and impact-ful ministries in this system of government.
The Finance Minister is NOT meant to be that powerful and I think we are now returning to normalcy

You should read this


https://www.thecable.ng/.VqE-jw1cd2w.ffacebook


CBN policies boosting the local industry, say manufacturers


3 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by SonOfEl(m): 11:29pm On Jan 22, 2016
doctokwus:

He has a tenured post and there is sth like the senate having to approve his sack,if i am not mistaken.Besides,his ethnic group presents another challenge.
But,pmb is just unnecessarily postponing the inevitable.
Just like the govt seems to be dillydallying with GEJ's arrest,emefiele has several reasons to have been sacked since yesterday:gross incompetence and his involvement in the sleazes under the GEJ govt. If there is one cbn gov that has failed in all aspects of central banking,its Emefiele.Why he remains there is known only to the govt.
To avoid cries of victmization,another Igbo can be appointed and there are countless more competent ones than Emefiele.

Keep fooling yourselves with your bigotry.

2 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by seunmsg(m): 11:29pm On Jan 22, 2016
OfoIgbo:


You sound daft.

Kemi Adeosun the clueless, is in charge of Nigeria's fiscal policy. The failure of Kemi in strengthening the fiscals of Nigeria has limited the bullish scope our financial directors can operate under.

Another case in point is the preparation of the budget which she has bungled, stolen, replaced. She is a stark illiterate


Ministry of budget and national planning is in charge of preparation of the budget. Get yourself educated before spewing rubbish online.

4 Likes 2 Shares

Re: Financial Times calls Nigeria's economic approach the height of foolishness by omonnakoda: 11:31pm On Jan 22, 2016
The Minister of Budget is Mr Udoma Udoma

4 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by grandstar(m): 11:32pm On Jan 22, 2016
NavierStokes:


My brother, i have been very vocal about these "venezuela styled" policies on here, i have seen first hand its effect on her people.
It baffles me how someone can see a failed policy and still go ahead to implememt same expecting a different result.

In all the party has been clueless on the economy as stated by their chairman, where he says they will convey a meeting of policy makers and stakeholders so as to be able to have a clear direction on the way forward, which in other words means they are yet to have a clue on the way forward these past months.
Buhari believes in statist policies. It was this hubris the country experienced in 1984-85 during his regime.

He won't devalue. He hates devaluations. Its like a child that hates the fsct that 1 + 1= 2.

By mid next year, the peoples patience will wrong.

The masses think thay because he is incorruptible that. means he is a financial genius.

1 Like 1 Share

Re: Financial Times calls Nigeria's economic approach the height of foolishness by grandstar(m): 11:37pm On Jan 22, 2016
Tochaigh:
If emifiele was standing right in front of me, with a loaded beratta in my hand. I will send that motherfucker straight to hell.

AhhAhh! Must buhari be so effing slow. Emifiele should have been sacked like yesterday!!!
Emefiele was okay until Buhari showed up! It os Buharis statist leanings that are probl

10 Likes 2 Shares

Re: Financial Times calls Nigeria's economic approach the height of foolishness by SonOfEl(m): 11:40pm On Jan 22, 2016
omonnakoda:
Any person is more suited than the last one. Any person is an improvement on the last one who received MORE OIL REVENUE THAN ANY FINANCE MINISTER IN AFRICAN HISTORY and failed to save for the rainy day. She ran on the Federal side budget deficit after deficit borrowing for unproductive schemes like Abuja light rail and so on. A complete disaster

Instead of facing her failings she blames state governors for her failure to save THE FEDERAL GOVT SHARE OF EXCESS CRUDE ACCOUNT which she spent without appropriation

Your subtle bigotry is a shame to whatever education and morality you supposedly acquired... Anyway, MB has made armchair critics like you chronic....

Fashola gave thumbs up to gejs administration for having the highest road infrastructure project, amaechi said same thing about railway project, adeshina (who credited his success to NOI) is praised today for the agricultural strides made, the entertainment industry received a huge boost under her economic policies...

Dude just go and lick Lassa fever and chill your madness forever.

12 Likes 1 Share

Re: Financial Times calls Nigeria's economic approach the height of foolishness by seunmsg(m): 11:46pm On Jan 22, 2016
grandstar:
Emefiele was okay until Buhari showed up! It os Buharis statist leanings that are probl

You Igbos really need to stop this nonsense. Dollar was already exchanging for N220 at the parallel market before PMB was sworn in. So, how was Emefiele okay before Buhari showed up?

See, the CBN governor is in charge of monetary and forex policy. If he can't fix the problem, let him resign and allow a more competent person to take up the position. This silly idea of blaming the finance minister who only assumed office less than 3 months ago is just crazy. You bigots should blame your clueless Emefiele who has been in office since 2014.

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Re: Financial Times calls Nigeria's economic approach the height of foolishness by SonOfEl(m): 11:55pm On Jan 22, 2016
omonnakoda:

Your mother will die mad. Her madness will never be cured

E pain you sotay e reach your bone marrow... grin....when there is no more reasoning, rants take over...sorry for your life...good morning....

6 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by SonOfEl(m): 11:58pm On Jan 22, 2016
seunmsg:


You Igbos really need to stop this nonsense. Dollar was already exchanging for N220 at the parallel market before PMB was sworn in. So, how was Emefiele okay before Buhari showed up?

See, the CBN governor is in charge of monetary and forex policy. If he can't fix the problem, let him resign and allow a more competent person to take up the position. This silly idea of blaming the finance minister who only assumed office less than 3 months ago is just crazy. You bigots should blame your clueless Emefiele who has been in office since 2014.

The nonsense needs to stop from you the Yoruba bigots....who told you it was emefieles fault to start with! The point simply remains as of now, Nigeria lacks proper economic direction, so whose fault is it? Keep blowing grammar....

10 Likes

Re: Financial Times calls Nigeria's economic approach the height of foolishness by oluwasegun007(m): 11:58pm On Jan 22, 2016
dats wat u get wen u av commissioner of finance as minister for finance...
Re: Financial Times calls Nigeria's economic approach the height of foolishness by omonnakoda: 11:59pm On Jan 22, 2016
SonOfEl:


Cancer done reach my mama bone marrow... na to quench remain....
Re: Financial Times calls Nigeria's economic approach the height of foolishness by SonOfEl(m): 12:04am On Jan 23, 2016
omonnakoda:

My mother will die mad. Her madness will never be cured

1 Like

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