nobaga:
Economic Blackmail By Foreigners And Their Protegees



http://newsrescue.com/economic-blackmail-by-foreigners-and-their-protegees-by-farouk-martins-aresa/#axzz44Esly7jb

In short, it will be 1986-1999 all over again.

This administration must remain steadfast & not cower to bullying tactics from the western superpowers...

This write up makes very little sense.

We service our external loans in dollars from our foreign exchange earnings, not in Naira.

Funny that the writer never questions why we need a foreign loan shore up a bloated and padded budget in the first place, rather than saving the same amount by trimming the cost of governance.

Devaluation, in Nigeria's particular case, allowing the Naira to trade at it's already established fair MARKET value at the black market, would discourage ostentatious imports and consumption of imported goods.
Necessity is the mother of invention.
Unless Nigerians are compelled to, we cannot ween ourselves out of import dependency voluntarily.

Market forces must compelled us to either change our consumption patterns or innovate with local manufacturing and EXPORTS.

Where in the world, which school of economics ever indulges in the clearly schizophrenic and voodoo practice of raising Interest Rates at the very time you are desperate to stimulate the economy ?

wristbangle:
Wonderful and Insightful article



Did u read the article?

Why not?
You think in isolation. All the problems are connected. It is just another APC supporter looking for excuses.
Did GEJ not face problems that had to be solved? Be it security, economic or whatever?

When has our currency never been under pressure?

Govt is meant to tackle whatever problems arise, not keep blaming other people for everything.

High oil price or high foreign reserve or strong currency is never guaranteed or promised to any govt coming to power.

thank you so much for this article.

this is what we've been trying to tell them. Nigerians should understand that there are international forces that want to keep this country and its citizenry in perpetual poverty.

but some are soooo blind all they can think of is a Fulani man is president.

we should thank God we have him at this point in the nation's history.

for those still supporting okonjo madam gele because she is your kinswoman, keep it up. the karma that is going to visit you will be unprecedented.

AreaFada2:


Why not?
You think in isolation. All the problems are connected. It is just another APC supporter looking for excuses.
Did GEJ not face problems that had to be solved? Be it security, economic or whatever?

When has our currency never been under pressure?

Govt is meant to tackle whatever problems arise, not keep blaming other people for everything.

High oil price or high foreign reserve or strong currency is never guaranteed or promised to any govt coming to power.

I agree with the bolded

Hitler is here.

This was how Hitler started his campaign against thr Israelis who made his country great.

I hope buhari dont send europeans packing like zinbabwe's Mugabe.

However, the article above is the truth of the matter. Mobil especially are milking us dry. Nigeria dont know the real quantity of oil exported by Mobil. The government only kbows what they declare.

However, Buhari's government is sacrificing the citizenry. We are bearing all the brunt of our economy while the ruling class enjoy like paradise.

Either we devalued or not, there is no difference for the masses because we pay more for dollars, we earn too little for dollars, fuel scarcity, no electricity, tax tax and tax on everything.

Even without devaluation, there is report of inflation and the government is adding to our hardship by mopping up money from circulation.

No conviction yet on criminals and no declaration of any money returned to the government coffers.

The proposed chicken change voted for loans towards industrialization was given to the Bank of Industry to manage. An institution with close to 1 trillion naira or more in her coffers and with nothing to show for it.

The Bank of Industry has been our problem with industrialization. Successive governments gave them all the money inbthe world to industrialize Nigeria but they cut deals with the rich and share the loot.

This government must start delivering.

This is a known fact. GEJ refused to play the American script, ACN lead by yorubas as always ran to their foreign partners, got the strategy to work against the govt. magnified all the flaws of the govt. followed this same foreign script got GEJ out and brought PMB hoping he will play their script, thank God PMB know their tricks. soon they will look for the same group to use and destabilze this govt. US foreign policy is simple, use their people against their govt. to our economic benefit. Until Africa break away from foreign control, we will never progress

This has always being in my mind.... Don't know why Africans especially Nigerians think this people got love for us or our economy.

Quakertellicus1:
It is a good article.

Devaluing the naira now would exhaust our forex reserves.....making things more difficult for us..and weakening the naira badly.

Devaluing the naira will not deplete the foreign reserves, government is actually paying more forex to keep it as it is... fact

very insightful article from the author

am against naira devaluation
we need to be an export driven nation/economy.


we need not to be a pawn for those multinational corporations who don't do the real investment here but come here to make money for their parent companies aboard alone

See the new set of people they are blaming? APC una try, blame everyone but yourselves.what happened to consuming made in Nigeria? Must we consume foreign goods? What happened to giving loans to boost agriculture and agro allied industries? What is wrong in having sardines, custard, cornflakes produced in Nigeria? What is wrong if the president and nigerians eat made in Nigeria rice? What is wrong if we drive innoson motors? They will have defects, we will criticize till innoson meets the standard we want.finally, APC have you blamed GEJ today?

Firefire:


The stupidity of this government is unlimited, let the buck passing continue, 4 years go soon reach.

Bros , when the suffering hits Nigerians hard and bites them .they will voice out. Right now let them keep suffering and smiling ,while Femi adeahina ,garba shehu and others keep smiling to the bank every week

dumodust:


Devaluing the naira will not deplete the foreign reserves, government is actually paying more forex to keep it as it is... fact

U get time . Let them keep fooling themselves .

100% of foreign companies in Nigeria get away with murder. Starting from evading employment laws, racist and preferential treatment of expat staff (the non Nigerian nationals live in luxurious estates and are chauffer driven to work with armed Nigerian millitary personnel), they evade tax and are never sanctioned because Nigerians in power have interests in them hence shield them, foreign companies in Nigeria.

AreaFada2:


Why not?
You think in isolation. All the problems are connected. It is just another APC supporter looking for excuses.
Did GEJ not face problems that had to be solved? Be it security, economic or whatever?

When has our currency never been under pressure?

Govt is meant to tackle whatever problems arise, not keep blaming other people for everything.

High oil price or high foreign reserve or strong currency is never guaranteed or promised to any govt coming to power.

written by farouk martins aresa



what did you expect to see in an article written by a nairaland apc zombie.

Very ignorant write up. This was the line of thought in the 1950s, but thats nolonger the case.
Most business are driven by profit and not politics anymore.

Gh0stFreak:
written by farouk martins aresa


what did you expect to see in an article written by a nairaland apc zombie.

Lol.

onatisi:

Bros , when the suffering hits Nigerians hard and bites them .they will voice out. Right now let them keep suffering and smiling ,while Femi adeahina ,garba shehu and others keep smiling to the bank every week

This lies and wicked propaganda of this government is alarming and insulting.

They made enough deafening noise about recovering Trillions of Naira from PDP looters, to mention the amount recovered the fraudsters are bringing up some baseless excuse, meaning either the recovered loots is subject to 're-looting' or the amount and Trillions mentioned is a hoax.

On the economy: the hardship and daylight robbery of this administration is unprecedented.

Official pump price of PMS is N87/L, while Nigerians are paying as much as N150/L to get the product.

A simple arithmetic (N150 - N87 = N63 extra per liter paid by the suffering masses) multiple by the daily fuel consumption in the country, you will see the amount of loss accrued to Nigerians.

Why is this government so insensitive and wicked ?

sheunsheun:
And you expect me to read all that? Abeg mk person summarise the whole tin

i hope you were joking when you said we do not expect you to ead all that.

I would encourage you to try to read certain write ups like this. It is helpful in tremendous ways.

importation is as easy as A,B,C while exportation is like a camel passing thru the eye of a needle

JSayin:
100% of foreign companies in Nigeria get away with murder. Starting from evading employment laws, racist and preferential treatment of expat staff (the non Nigerian nationals live in luxurious estates and are chauffer driven to work with armed Nigerian millitary personnel), they evade tax and are never sanctioned because Nigerians in power have interests in them hence shield them, foreign companies in Nigeria.

Sounds like you reside in PH or the South-South. The situation you painted is glaring there.

craziebone:


i hope you were joking when you said we do not expect you to ead all that.

I would encourage you to try to read certain write ups like this. It is helpful in tremendous ways.

I hope reading through will fill ma Generator

Firefire:



This lies and wicked propaganda of this government is alarming and insulting.

They made enough deafening noise about recovering Trillions of Naira from PDP looters, to mention the amount recovered the fraudsters are bringing up some baseless excuse, meaning either the recovered loots is subject to 're-looting' or the amount and Trillions mentioned is a hoax.

On the economy: the hardship and daylight robbery of this administration is unprecedented.

Official pump price of PMS is N87/L, while Nigerians are paying as much as N150/L to get the product.

A simple arithmetic (N150 - N87 = N63 extra per liter paid by the suffering masses) multiple by the daily fuel consumption in the country, you will see the amount of loss accrued to Nigerians.

Why is this government so insensitive and wicked ?

Dont blame the government,blame the people. A government is a direct expression of the people they govern. There can never be a bad government as this in power if majority of Nigerians are sensible ,responsible and hold the present government accountable but in a situation where the larger majority still believes the past is to blame for the present government inadequacies,it only shows and proves to the government that the people are yet to get their thinking right.

sheunsheun:
And you expect me to read all that? Abeg mk person summarise the whole tin

Indolent

onatisi:

Dont blame the government,blame the people. A government is a direct expression of the people they govern. There can never be a bad government as this in power if majority of Nigerians sensible ,responsible and hold the present government accountable but in a situation where the larger majority still believes the past is to blame for the present government inadequacies,it only shows and proves to the government that the people are yet to their thinking right.

Let them continue in their suffering and smiling status, I pray it does not get to the level of 'eating' their children for food.

AreaFada2:
APC blamed GEJ for everything since 1914!

Did APC think governance is a walk in the park and they will not have to solve problems?

Did they not realise that they are not magicians before making outrageous promises?

I can see..... the only problem you have is APC. Bro check yourself

dumodust:


Devaluing the naira will not deplete the foreign reserves, government is actually paying more forex to keep it as it is... fact

It would....and it would make goods expensive because imported materials,including the imported raw materials for our local industries,, would get more expensive.

nobaga:
Economic Blackmail By Foreigners And Their Protegees



http://newsrescue.com/economic-blackmail-by-foreigners-and-their-protegees-by-farouk-martins-aresa/#axzz44Esly7jb

The truth is that we are operating in a global economy. Our major source of foreign exchange is oil which is subjected to a lot of geo political considerations most of which are beyond our sphere of influence. To meet up with the advancement in technology and infrastructural development we need a lot of foreign direct investment (not portfolio investors) who will be willing to stay for the medium to long term. Business is not based on nationalistic sentiments, money will always flow in the area of stability and security.

While we can blame past administrations for opportunities lost and mistakes made, we need to steer our way through based on logical and rational decisions devoid of sentiments. Let the present administration rise to the challenge and take bold decisions. Just like the surgeon who takes make or mar decisions that affect the life and destiny of people, duty beckon on PMB

GOD help us all

**** and you will tell Nairalanders you are educated

Integrityfarms:
We voted a government for change and should be able to live up to expectations and not coming up with bull craps to blame the citizenry!

You must be from abia or anambra. Ipod bigots, by their comments we shall pin-point them

Firefire:



This lies and wicked propaganda of this government is alarming and insulting.

They made enough deafening noise about recovering Trillions of Naira from PDP looters, to mention the amount recovered the fraudsters are bringing up some baseless excuse, meaning either the recovered loots is subject to 're-looting' or the amount and Trillions mentioned is a hoax.

On the economy: the hardship and daylight robbery of this administration is unprecedented.

Official pump price of PMS is N87/L, while Nigerians are paying as much as N150/L to get the product.

A simple arithmetic (N150 - N87 = N63 extra per liter paid by the suffering masses) multiple by the daily fuel consumption in the country, you will see the amount of loss accrued to Nigerians.

Why is this government so insensitive and wicked ?