Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,207,142 members, 7,997,974 topics. Date: Friday, 08 November 2024 at 11:09 PM

BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy - Politics (8) - Nairaland

Nairaland Forum / Nairaland / General / Politics / BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy (30858 Views)

Senators Reject Buhari’s Emergency Powers Bill, Say It’ll Turn Him Into A Tyrant / Economy: Buhari Not Seeking Emergency Powers- Presidency / Emergency Powers Bill: LCCI, MAN, NLC, Others Back Buhari’s Proposals (2) (3) (4)

(1) (2) (3) ... (5) (6) (7) (8) (9) (Reply) (Go Down)

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by happney65: 1:21pm On Aug 22, 2016
omolola15:


The point is you might not like the man and his policies. But this particular news is a way forward. Finding a way to fast track projects is not a bad thing. Helping states with money to develop education is not a bad thing. Most of those states can't pay their salaries and you expect them to come up with their 50% of the money. How will they do that.

When Buhari is wrong, I won't support him. But I see no sense in criticizing him even when he's right. I had to read the news again before posting this. I repeat this is a step in the right direction. And it's not he's forcing it down our treat. At least the house will decide if it's worth passing or not. Have a nice week ma'am.

In the words of Pa.."emergency powers" to fix Nigeria's economy grounded to nothing by his bumbling self? What does that even mean? A man that can not ride a wobbly bicycle now wants permission to fly an Apache helicopter! I bet you that clueless house of incompetents will grant him these unnecessary powers. He is basically saying democracy doesn't work, give me the authority to really f*ck things up! Dark days ahead for Nigerians! I told you so! Yes, I just said it, I told you so! *cycles away sadly*


The same Man who's Stupid Policies brought us here..PM is 400naira as of Today.The same thing he did then is happening all over today again.In a democracy you are asking for so called Emergency Powers..I mean did OBJ ask for such before he brought Nigeria out of the Doldrum it was in 1999 after just a term?OBJ that the southwest could not touch with a six inches pole in 1999,won massively in 2003 all because he knew what he was doing and not running around the Bush..Continue...When it all comes crashing patapata,I think you will then Blame my Dead GreatGrand Mother..

4 Likes 1 Share

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by ndcide(m): 1:33pm On Aug 22, 2016
Only a fool will give buhari absolute powers or even more powers.

I've told people that Oyo state with be approved as grazing reserve. It will be a way of rescuing the economy.

4 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by naijaking1: 1:43pm On Aug 22, 2016
Emergency power, broadened power, super power that's not going to help help fix the economy in a democratic rule. Maybe he needs to think in another direction, those powers he had even as a military dictator never helped him fix the economy then and it wouldn't help him now.
Maybe swallowing his pride and bringing Nigerians of all religious, ethnic and political persuasion is the key.

3 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by HARDDON: 2:06pm On Aug 22, 2016
Jobos:

"May your road be rough" - it another way of saying that not all that glitter are gold. We enjoy smooth ride and never what to face little hardship.
I know that Buhari never establish subsidy , or enact law that place embargo on importation of rice, or tell the past govts ( Jonathan ) not to save for a time like now.
Justfy your accusation by telling us how the last govt help our situation.


Oh, so it is Jonathan that established subsidy?

U folks shld stop beating about d bush n tell urselves just one truth:

I came onboard cos I want to right d wrong! Stop pointing accusing fingers @ d past , wasting today n plunging the nation into further chaos !
No man moves forward looking backwards!

When Jonathan came onboard, there were serious issues too, he didn't start playing blame games! He folded his sleeves up, appointed worthy team n they went to work!
That is a leader that knows his onions.

Not this dictator who has nothing to offer after a year +
U got nothing to offer, sit in ur office n drink tea then, he wudnt. He'd rather fly d whole world with d scarce money that he has locked up with TSA . Brought in quack team that r making mockery of d whole economy with trial n error permutation n combination computations!


Btw,

Did u just drop into dis sphere called Nigeria?
Where were u when amaechi, osho n d likes took him to court when he wanted to save for d rainy days n they won?

past administration tried to diversify the economy, agriculture, education , rail etc with objective developmental goals!
even in the face of the cabal clogs that wudnt live to see any gud thing come out of nigeria, He did his best!
above all, the administration, had listening ears! not this bird with his infected ears buried underground!

Naira was not 0n a free fall like u have now, elections were not inconclusive!
food was no worry to the common man! PHCN didnt charge us extras for darkness they fed us with.
there was no stamp charges, there was no lopsided appointments, there was no division of the nation into 5% and 95%!
police didnt kill protesters even when the nation was shut down close to 2months in the name of #occupyNigeria.
Fuel was btween 86-97 naira .

Foreign investors werent closing shops like u have now
companies werent folding up like u have now


Dude: the past administration is eons ahead of this one.... infact, this is no administration, this is some bunch of fresh graduate doctors trying their hands on an economy scalpel for the very first time! and guess what?

They are cutting the the wrong tissues! even with the high powered biconcave lens of change on their eyes!


this cudnt be a coincidence : how can a second coming be an exact cOPY of his first time around?

bad omen?

3 Likes 2 Shares

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by progress69: 2:34pm On Aug 22, 2016
BlackSeptember:
I've been around and enjoying the past 16yrs. This is the worst year ive ever experience in my biz.



Lord let those 16yrs come back because I'm not a politician that lies through their teeth

Its amazing how one will place a curse on himself.
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by plaetton: 2:54pm On Aug 22, 2016
thesicilian:
To rescue the economy from who? These guys are just playing ping pong with our economy. Its like a doctor who starts treating a patient with a simple ear infection, mismanages the patient until he starts convulsing due to acute meningitis, then the doctor is now asking the relatives to sign consent for an emergency brain surgery!

Bingo.

In as much as the stated objectives seem laudable, it is still funny that the executive arm is going to seek permission from the legislative arm to govern more efficiently.

The real issue is, Do we trust Buhari, with his unabashed NEPOTISM, with more executive powers over the economy, an area that he has perennially failed ?

3 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by plaetton: 2:57pm On Aug 22, 2016
GreatEngineer:
Buhari can't work in a civilian rule. He need degree, so national assembly should give him power to do all those things mentioned up there before he can perform well.
Why did he contest election when he knows he can't work well in a democratic government.

Oya National assembly over to you, Please give Buhari power to do and undo anything without passing through you or due process, so that we will not die of hunger.

We still have a very long way to go.

He he he.

The chicken is coming home to roost.

2 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by gfullmoon(m): 2:58pm On Aug 22, 2016
Saraki this is right time to "negotiate" with PMB /APC.
Drop my CCT and forgery trial or forget it.
Buhari or APC relevant in 2019 is dependence of how the can pull Nigeria from this economic recession and downtown. Even if PDP caused, it that's why APC was voted to correct it. If you cannot fix this battered economy, simply resign no more excuses, we all know already how PDP raped Nigeria before APC came for rescue mission which is almost turning to suicide mission.

1 Like

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by plaetton: 3:03pm On Aug 22, 2016
Osyabj:


To rescue the economy after 16 years of PDP plundering of over 38 Trillion Naira, shamelessly shut down the refineries in order to import fuel, sabotaged the power sector in order to sell diesel and generators, thereby poluting Nigerians health, awarding contracts and sharing the money without doing the contracts, ...the list in endless.

Complete bullshyte.

BTW, what skin color are the PDP, and what skin color are the members of this present government ?
Lol.

It's the same people, the same problems.
Daahhhh!! undecided

The Senate and National assembly scandals are clearly telling us that the APC are a much more brazen and much more desperate set of jackals in office.

3 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Geniro: 3:12pm On Aug 22, 2016
jpphilips:



If you don't know how assets sales improve liquidity, what are you doing in this section precisely?

Zombies like you are totally shameless. If the current dunce in Aso rock can't make do with the enormous powers under his control, he should simply resign.

What nonsense.

3 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by expressglory: 3:29pm On Aug 22, 2016
Pidggin:


I am educated so I can read. Anwser the simple question, who destroyed the economy in 1984?

Who be dis mumu?
Economy was destroyed in 1982-1983...Buhari came to the rescue in 1984...b4 IBB betrayed him to ruin everything and put up the machinery that brought PDP to power. OK?

1 Like 1 Share

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Pidggin(f): 3:37pm On Aug 22, 2016
expressglory:


Who be dis mumu?
Economy was destroyed in 1982-1983...Buhari came to the rescue in 1984...b4 IBB betrayed him to ruin everything and put up the machinery that brought PDP to power. OK?

Stop mocking yourself


https://www.nairaland.com/3259743/overthrew-buhari-because-too-much

1 Like

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by globe16: 3:41pm On Aug 22, 2016
ericsmith:


its buhari turn,.y shuld it b oil or is it his birth rite,,,is dt even a question or meaningless thot...previous govt survived on water abi...if govt talk of diversifying no b one year thing n ofcuz we nid d oil to live on,,thank God our money r now bin saved as against bin formerly looted ...bin on d right path doesnt mean it gonna b easy but nigerians wil pull thru ,,no tribe can hold us dwn
Buhari should start thinking forward and not backwards, simple.. Obama met an economy in recession and lifted the economy out of recession, buhari met a sound economy and dragged it into recession and you are here talking rubbish.. Which money is now being saved? So buhari is diversifying by wasting billions to search for crude in the north?

3 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by globe16: 3:42pm On Aug 22, 2016
chinnyonwu:

I really don't like saying this but you're an illiterate.
So you want to compare inflation and population levels at 1999 with 2015?
Buhari has caused more inflation in one year than all presidents combined in the last 16 years.. Look who is calling someone an illiterate.. lol

3 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by omolola15(m): 3:52pm On Aug 22, 2016
happney65:


In the words of Pa.."emergency powers" to fix Nigeria's economy grounded to nothing by his bumbling self? What does that even mean? A man that can not ride a wobbly bicycle now wants permission to fly an Apache helicopter! I bet you that clueless house of incompetents will grant him these unnecessary powers. He is basically saying democracy doesn't work, give me the authority to really f*ck things up! Dark days ahead for Nigerians! I told you so! Yes, I just said it, I told you so! *cycles away sadly*


The same Man who's Stupid Policies brought us here..PM is 400naira as of Today.The same thing he did then is happening all over today again.In a democracy you are asking for so called Emergency Powers..I mean did OBJ ask for such before he brought Nigeria out of the Doldrum it was in 1999 after just a term?OBJ that the southwest could not touch with a six inches pole in 1999,won massively in 2003 all because he knew what he was doing and not running around the Bush..Continue...When it all comes crashing patapata,I think you will then Blame my Dead GreatGrand Mother..

Did I quote you. Will you get da Bleep outa my mention? I know you typed thrash so I ain't gonna read it. I talk to people that reason with their brain.
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by wristbangle: 3:53pm On Aug 22, 2016
Pidggin:
How I wish 16yrs of PDP rule can be copied by this govt.

Ah! Madam are u alright with this statement coming out from you? Honestly I rather prefer military rule to 16 years of PDP clueless rule and 15 months of conflicting APC policies. I don't pray for military rule anyway but coming 2019, PDP can never be an option to replace APC. Who be PDP, who be APC? No be same set of evil rats?
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by happney65: 4:06pm On Aug 22, 2016
omolola15:


Did I quote you. Will you get da Bleep outa my mention? I know you typed thrash so I ain't gonna read it. I talk to people that reason with their brain.

My Broda,Read,Read and Read...Ahahahahahahaha.. grin
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Newmanluckyman(m): 4:10pm On Aug 22, 2016
Osyabj:
President to meet Saraki, Dogara

Bill to rescue economy ready

President Muhammadu Buhari will be seeking emergency powers from the National Assembly to push his planned stimulus for the economy.

The objectives of the action-plan on the economy, which is in recession, include shoring up the value of the naira, creation of more jobs, boosting of foreign reserves, reviving the manufacturing sector and improving power.

Government sources said the decision to seek emergency powers for the President was based on a proposal from the economic team headed by Vice President Yemi Osinbajo. The team reviewed the various policies so far introduced and how they have affected the economy.

The economic team, it was learnt, gauged the mood of the polity and decided that unless there is an urgency which some of the extant laws will not permit, “the recession may be longer than expected and Nigerians will not get the desired respite, which is the goal of this government”.

An executive bill titled: “Emergency Economic Stabilisation Bill 2016” is to be presented to the National Assembly when the Senate and the House of Representatives resume from vacation on September 12.

In the bill, the executive will be asking for the President to be given sweeping powers to set aside some extant laws and use executive orders to roll out an economic recovery package within the next one year.

Buhari will be seeking powers to:

abridge the procurement process to support stimulus spending on critical sectors of the economy;
make orders to favour local contractors/suppliers in contract awards;
abridge the process of sale or lease of government assets to generate revenue;
allow virement of budgetary allocation to projects that are urgent, without going back to the National Assembly.
amend certain laws, such as the Universal Basic Education Commission (UBEC) Act, so that states that cannot
access their cash trapped in the accounts of the commission because they cannot meet the counterpart funding,
can do so; and
to embark on radical reforms in visa issuance at Nigeria’s consular offices and on arrival in the country and to
compel some agencies of government like the Corporate Affairs Commission (CAC), the National Agency for Foods
Administration and Control (NAFDAC) and others to improve on their turn around operation time for the benefit of
business.
The extant law on procurement does not allow contract award earlier than six months after decision. Part of this is a mandatory advertisement of the contract for six weeks. The economic team has found this to be unacceptable, given our present circumstance.

Although the president has the power to order the sale or lease of any government asset to raise cash, “the procedure is cumbersome and long”. The draft bill is meant to ease the process. The government source said about nine government assets may be leased or sold to generate around $50billion to shore up the nation’s foreign reserves and the value of the naira against the United States dollar.

The source said: “Nigeria may be broke at the moment but we are not a poor country, given our assets and capability.” About N58 billion is trapped in UBEC’s coffers because the states cannot access it as a result of the key condition, which is the payment of 50 per cent counterpart funding. The government is seeking an amendment to the law so that states will pay only 10 per cent as counterpart funding.

The objective is that state governments will have access to cash to develop education. This will facilitate creation of jobs since contracts will be awarded for the projects.

As for contract awards, the government, by the provisions of the law, cannot mobilise contractors with more than 15 per cent of contract sum. This is considered to be undesirable by the economic team given the pace the government wants to move in turning the economy around and in the provision of critical infrastructure. The bill will seek to allow the government to mobilise contractors with 50 per cent of contract sum.

The move to get government agencies to fast tract their operations is to enable foreign investors to come into the country without the current bottlenecks. Consular offices will now be expected to make visas available within 48 hours and visitors, especially tourists who intend to pick up visas at the entry point, will be able to do so. Time wasting at the airport with duplication of agencies screening incoming passengers is to be eliminated. Those leaving the country should go without hassle.

For the power sector, the government plans to truck gas from source to the power plants to enable them get what they need for generation. A government source said: “This may be more expensive but it is a price to be paid for Nigerians’ comfort”.

It was learnt that President Buhari will engage the leadership of the National Assembly before their resumption to solicit support for the bill’s quick passage.


http://thenationonlineng.net/buhari-seeks-emergency-powers-tackle-economy/
...OK, PMB is still "seeking"? Wake me up when naira per dollar is 170, when people are gainfully employed, inflation reduced, health facilities improved, transportation facilities improved, diversification to agriculture and other solid minerals is in full gear.

2 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Pidggin(f): 4:41pm On Aug 22, 2016
wristbangle:


Ah! Madam are u alright with this statement coming out from you? Honestly I rather prefer military rule to 16 years of PDP clueless rule and 15 months of conflicting APC policies. I don't pray for military rule anyway but coming 2019, PDP can never be an option to replace APC. Who be PDP, who be APC? No be same set of evil rats?

Why not speak for yourself na? I really enjoyed PDP 16yrs rule, that's why I said so and I am not a party member but I enjoyed it.

1 Like

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by chaiks: 4:43pm On Aug 22, 2016
Gud. If this I'll turn things around, d leadership of d legislator should give gmb an ear. There are some extant laws in our Constitution that are laddened with unnecessary bureaucracy. The idea that some govt properties I'll be sold or leased is a nice move at this time. I know there I'll be some kind of extortion but it I'll eventually attract investors and create jobs. Investors need to mk profit n people need to be employed as well. D govt should as well engage in more bilateral education agreement with many other countries so that ideas can be quickly diffused more. We need outsiders to come in more. Later we can nationalize.
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by mecks15(m): 5:00pm On Aug 22, 2016
Its a pity how people allow bigotry and hatred to becloud their sense of judgement and reasoning. The president has the right to seek special powers at this critical point of our economy. Most of what the bill wants to achieve is part of the problem of the economy. Who doesn't know the problem of the procurement act which delays contract executions in the country,also the issue of contract mobilization and the money in UBEC lying idle while our schools are decaying and others. The president has moved in the right way, I even expect the national assembly to cut short their recess and reconvene, the economy is in recession, no time for holiday on their part. This government will get it right, the pains won't last, that am sure of.
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by wristbangle: 5:15pm On Aug 22, 2016
Pidggin:


Why not speak for yourself na? I really enjoyed PDP 16yrs rule, that's why I said so and I am not a party member but I enjoyed it.

E be like dem share money give u.. I see. Goatandyam theory tongue

Money no enter pocket again. Sowie oyoyo!
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Decodedp: 5:56pm On Aug 22, 2016
This is the beginning of the end.

I won't say more till the coming days when i expect prominent Nigerians to start airing their opinions.

For now I'll beg PDP leaders to please put their dirty past behind them, resolve their differences and stand up for the Nigerian people.

Because as it stands today no other opposition party has the capacity to match the financial and media capacity of the APC.


IRRESPECTIVE OF WHICH POLITICAL PARTY YOU SUPPORT;

THE FUTURE OF NIGERIA MORE THAN EVER BEFORE IS BLEAK(this much was acknowledged by OBJ) AND WE CAN'T AFFORD A ONE PARTY STATE.

policy directions like this one needs to be critically dissected especially from people with opposing views.

1 Like

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by chinnyonwu(m): 6:07pm On Aug 22, 2016
globe16:

Buhari has caused more inflation in one year than all presidents combined in the last 16 years.. Look who is calling someone an illiterate.. lol
Oga thats not the point. You were talking down on Buhari on the basis of his inability to manage the economy despite OBJ getting even less than he got on assumption of office.
And i still ask you literate, can you compare $1bn dollar in reserves in 1999 with $1b in reserves in 2015?
have you heard of "time value of money"
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Swash042(m): 6:07pm On Aug 22, 2016
Pidggin:


I should also ask you if you were there, or if you were one of his cabinet members. Why is it that someone has to be blamed when Buhari's economic decisions fail? grin

How many people did Obama blame when he took over power?

Buhari met Nigeria as the biggest economy in Africa, in only 18mths we are in a recession, has it been PDP's policies we have been implementing since the last 18mths or Buhari's?
1000 likes

1 Like 1 Share

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Nobody: 7:01pm On Aug 22, 2016
globe16:

Buhari should start thinking forward and not backwards, simple.. Obama met an economy in recession and lifted the economy out of recession, buhari met a sound economy and dragged it into recession and you are here talking rubbish.. Which money is now being saved? So buhari is diversifying by wasting billions to search for crude in the north?

How long did it take Obama to take the US economy out of recession??
Unemployment rate was 7.3% when Obama took over as the President in January 2009. It peaked at 9% by Sept 2011. That is almost 3 years into Obama Presidency. And we are talking of a USA where they have stable electricity and huge infrastructure. Buhari met a very poor infrastructure on ground.
It takes time to rebuild what has been destroyed by previous Govt. It is the nature of recovery. It gets worse before it starts to gets better.

You cannot build an economy with corruption as the working Capital.


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.8 9.8 9.9 9.9 9.6 9.4 9.4 9.5 9.5 9.4 9.8 9.3
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.3 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.7 7.9
2013 8.0 7.7 7.5 7.6 7.5 7.5 7.3 7.3 7.3 7.2 6.9 6.7
2014 6.6 6.7 6.7 6.2 6.2 6.1 6.2 6.2 6.0 5.7 5.8 5.6
2015 5.7 5.5 5.5 5.4 5.5 5.3 5.3 5.1 5.1 5.0 5.0 5.0
2016 4.9 4.9 5.0 5.0 4.7 4.9 4.9
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Babanah: 7:03pm On Aug 22, 2016
This is what you get when a lawyer is the head of the economic management team. A legal solution to economic problems.

1 Like

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Nobody: 7:10pm On Aug 22, 2016
chinnyonwu:

Oga thats not the point. You were talking down on Buhari on the basis of his inability to manage the economy despite OBJ getting even less than he got on assumption of office.
And i still ask you literate, can you compare $1bn dollar in reserves in 1999 with $1b in reserves in 2015?
have you heard of "time value of money"

What about the wage bill?
By 2003, The NASS budget was 23 billion naira. Today, they are grumbling that it has been reduced from N150 billion naira to N115 billion naira under Buhari.
Minimum wage was N7,500 in 1999, now it is N18,000.
With all the debts left by Jonathan, who will pay the debts??

1 Like

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by globe16: 7:19pm On Aug 22, 2016
deji15:


[s]How long did it take Obama to take the US economy out of recession??
Unemployment rate was 7.3% when Obama took over as the President in January 2009. It peaked at 9% by Sept 2011. That is almost 3 years into Obama Presidency. And we are talking of a USA where they have stable electricity and huge infrastructure. Buhari met a very poor infrastructure on ground.
It takes time to rebuild what has been destroyed by previous Govt. It is the nature of recovery. It gets worse before it starts to gets better.

You cannot build an economy with corruption as the working Capital.


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.8 9.8 9.9 9.9 9.6 9.4 9.4 9.5 9.5 9.4 9.8 9.3
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.3 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.7 7.9
2013 8.0 7.7 7.5 7.6 7.5 7.5 7.3 7.3 7.3 7.2 6.9 6.7
2014 6.6 6.7 6.7 6.2 6.2 6.1 6.2 6.2 6.0 5.7 5.8 5.6
2015 5.7 5.5 5.5 5.4 5.5 5.3 5.3 5.1 5.1 5.0 5.0 5.0
2016 4.9 4.9 5.0 5.0 4.7 4.9 4.9 [/s]
you are talking rubbish but keep deceiving yourself. Unlike obama, Buhari did not meet an economy in recession, instead he dragged Nigeria into recession with his dumb economic policies.. Now you are telling us buhari met poor infrastructure, what does that matter to the poor economy he destroyed? smh at zombie logic

2 Likes

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by globe16: 7:21pm On Aug 22, 2016
chinnyonwu:

Oga thats not the point. You were talking down on Buhari on the basis of his inability to manage the economy despite OBJ getting even less than he got on assumption of office.
And i still ask you literate, can you compare $1bn dollar in reserves in 1999 with $1b in reserves in 2015?
have you heard of "time value of money"
$1bn dollar in 1999 still has almost the same value as $1bn dollar in 2015.. Fact is buhari met more money than obasanjo did.. If you want to talk inflation, buhari is still to blame

1 Like

Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by Nobody: 7:33pm On Aug 22, 2016
globe16:

you are talking rubbish but keep deceiving yourself. Unlike obama, Buhari did not meet an economy in recession, instead he dragged Nigeria into recession with his dumb economic policies.. Now you are telling us buhari met poor infrastructure, what does that matter to the poor economy he destroyed? smh at zombie logic

Buhari inherited a mono product economy. Yes or No? The fall in oil price is Buhari's fault, Yes or No?? Jonathan left a a depleted foreign reserve, Yes or No? Buhari inherrited a poor infrastructure, Yes or No? If you are not an economic illiterate in the mold of the 2 x 2 shops that sells second hand clothing or imported goods, you should be able to answer the questions without insulting yourself

Here is what Jonathan inherited, and how he left Nigeria ...
Here is Jonathan score card.

Figures don't lie.
Average yearly crude oil prices 2010 to 2016
2010 = $ 77.38 / barrel
2011 = $107.46 / barrel
2012 = $109.45 / barrel
2013 = $ 105.87 / barrel
2014 = $ 96.29 / barrel
2015 = $ 49.51 / barrel
2016 = $ 26.5 / barrel - Jan & Feb , 2016 average

Foreign Reserve & ECA / SWF

May 2011=$65b
May 2015=$30b

Total debt

Dec 2007 = $22 billion
MAY 2010 = $35 billion
MAY 2015 = $63 billion dollars in 2015..


Algeria was able to save over $160 billion dollars in the past few years from oil sales..That is why they are able to weather the storm of drop in oil price better, even at that they are feeling the heat too.
On the average Jonathan earned over 100 dollars per barrel from oil, squandered the foreign reserve and borrowed more money with nothing to show for it. As at 2014, Jonathan was borrowing to pay salary. Is that sustainable?
Re: BREAKING NEWS: Buhari Seeks Emergency Powers To Tackle Economy by globe16: 8:14pm On Aug 22, 2016
deji15:


[s]Buhari inherited a mono product economy. Yes or No? The fall in oil price is Buhari's fault, Yes or No?? Jonathan left a a depleted foreign reserve, Yes or No? Buhari inherrited a poor infrastructure, Yes or No? If you are not an economic illiterate in the mold of the 2 x 2 shops that sells second hand clothing or imported goods, you should be able to answer the questions without insulting yourself

Here is what Jonathan inherited, and how he left Nigeria ...
Here is Jonathan score card.

Figures don't lie.
Average yearly crude oil prices 2010 to 2016
2010 = $ 77.38 / barrel
2011 = $107.46 / barrel
2012 = $109.45 / barrel
2013 = $ 105.87 / barrel
2014 = $ 96.29 / barrel
2015 = $ 49.51 / barrel
2016 = $ 26.5 / barrel - Jan & Feb , 2016 average

Foreign Reserve & ECA / SWF

May 2011=$65b
May 2015=$30b

Total debt

Dec 2007 = $22 billion
MAY 2010 = $35 billion
MAY 2015 = $63 billion dollars in 2015..


Algeria was able to save over $160 billion dollars in the past few years from oil sales..That is why they are able to weather the storm of drop in oil price better, even at that they are feeling the heat too.
On the average Jonathan earned over 100 dollars per barrel from oil, squandered the foreign reserve and borrowed more money with nothing to show for it. As at 2014, Jonathan was borrowing to pay salary. Is that sustainable?[/s]
its all about oil for buhari and his zombies what a pity. Buhari met more money in the reserves than obasanjo did? yes or no? Buhari wasted part of the monies GEJ saved on a futile mission to search for oil in the north yes or no? Buhari and the leaders of his demonic APC party revolved against federal govt savings under GEJ, including taking the FG to court, yes or no? Buhari inherited the best economy in Africa yes or no? Buhari singlehandedly dragged Nigeria into recession yes or no? Buhari has done nothing about diversification from oil except looking for more oil in lake chad, yes or no? Buhari does not have a single positive economic policy yes or no? Should I even continue.. What buhari and his zombies need is a working brain and deliverance

1 Like

(1) (2) (3) ... (5) (6) (7) (8) (9) (Reply)

Goodluck Jonathan And Wife, Patience Spotted At Port Harcourt Airport (photos) / Protesters At Amnesty International Caught Sharing Money - Deji Adeyanju / Guidelines On Easing Of Lockdown In The FCT

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 123
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.