igbeke:
We are aware of it, yet some Nigerians still went ahead to vote him.

Sorry!! went ahead to Rigged him in

Indiaindia:
IF BUHARI IS RUNNING A NO DIRECTION GOVT WHY ARE WE ALL NIGERIANS LOVE HIM VOTED FOR HIM AGAIN? ALL THESE BIAFRAN MEDIA WILL CONTINUE TO TALK RUBBISH

Grammar. Buhari gets the bulk of his support from the intellectually challenged ones. No rational, intelligent Nigerian would support such an incompetent leader.

kjhova:


I would have willingly educated you on why the foreign reserve is far more important to your well being as a citizen than the FX rate. However, observing your language and logic above, I won't waste my time as you appear quite incapable of grasping such engagement.

you dont have anything to say, just keep quiet, or say it now .

Foreign reserve is important to my well being i know, but there is no way you can explain how it will affect the economy if the right policy is not executed.

Have you ever sit down to imagine what it takes to execute the right policy that will benefit all nigerians?
It takes technocrats in the cabinets of the said buhari to achieve that.

Now tell me, mention one technocrat currently in the cabinet of buhari?

I just mentioned that nigeria foreign reserve was $46b in 2012.
In 1999 before obasanjo came into power nigeria foreign reserve was less than $12 billion dollars,there was a temporary recession which lasted at the space of 3 months and ended as a result of the the then military administration of General Abdusalam Abubaka's looting, As a matter of fact, obasanjo did not blame anybody for that failure as buhari is doing now.
By the time obasanjo ended his first term in 2003,he has cleared the $56 billion paris club dept, nigeria foreign reserve rises to $45 billion dollars (google it) .
Not only that, economy was very much stable inspite the recession until it ended.
Why?
Because there were technocrats in the cabinet of obasanjo, people like chukwu emeka chinlelo, Ngozi okojo iweala, samaila saidu sambuwa, Oluyemi Adeniji and Nasir El Rufai .
Not that obasanjo was perfect but because these people stood by him.

Now, mention one person this foolish buhari has choosed as a technocrat to stand by him in this 4 years he has ruled nigeria?
Is it babatunde fashiola who is a lawyer now minister of power and steel or wo works?
How does law correlate with power, works and housing?

You reason that as an educated man lets see??

I dont get it?

grandstar:


This isn't a prayer and how did you prayers stop the Naira from dropping from 155 to 360 to a $ from 2014 to 2019? How has it stopped Bioko Haram?

My forecasts or predictions are personal so I don't understand why you're angry. Supposing your neighbour's teenage daughter is very promiscuous and you warn her parents that her wayward lifestyle will lead to pregnancy and they now wish you bad, are they being reasonable or sentimental? Won't it be best for them to start taking actions against their daughter wayward lifestyle?

Even the Bible has many unpopular prophecies. Have you condemned God for making such predictions?

If you don't like my forecasts, so be it. Stop wishing me bad. Stop shooting the messenger and focus on the message. Let the government start taking proactive action today to forestall things.

The problem with you people who claimed to know all is that when given the opportunity to do it you will start shifting the goal post, you people always like criticizing others forgetting that they are human beings like you and I and let me make this known to you that you might be more educated than the president but must of the policies he embarked on were not his ideas but experts who feels that's the best way to go by.
It is always easy to criticize the coaches and their tactics by the pundits on televisions but when given the opportunity to coach they can't even win a single match if you think I'm lying ask Thiery Henry. We have people who are more than qualified in this administration that are working round the clock to ensure that things return back to normalsy but don't forget it's not everyone you see working with you that wants your progress, in a nutshell I want you to know that 95% of our leaders and our judiciary are highly corrupt thereby making it almost impossible to succeed even when you have a good intentions of making things right because of their greed.
You talk like someone who is educated but I'm surprised to see you talked about the falling of naira against the dollar without mentioning the reason behind it, if I may ask how much was a dollar in 1999? Did the former administration left the exchange rate at how they met it? my problem is that I don't like talking too much but please when ever you want to criticize do it constructively without sentiment. Note that I'm not a politician neither do I intend becoming one before you think I'm defending any party as my own party.

grandstar:


The problem here isn't the West but your lamentable understanding of economics.

The same economics the west has been pushing down our throats that has ensured there is abject poverty in the midst of plenty, your Breton woods economists have failed and you are here glorifying them.... Or how else would you describe the sorry state Nigeria is in Mr economist, voodoo economics ala Ngozi okonjo iweala where we have the biggest economy in Africa yet 70% youths are unemployed,
You guys don't get it, there has to be redistribution of wealth and resources, the poor has to have policies that will alleviate their poverty.

msylva2147:
The problem with you people who claimed to know all is that when given the opportunity to do it you will start shifting the goal post, you people always like criticizing others forgetting that they are human beings like you and I and let me make this known to you that you might be more educated than the president but must of the policies he embarked on were not his ideas but experts who feels that's the best way to go by.
It is always easy to criticize the coaches and their tactics by the pundits on televisions but when given the opportunity to coach they can't even win a single match if you think I'm lying ask Thiery Henry. We have people who are more than qualified in this administration that are working round the clock to ensure that things return back to normalsy but don't forget it's not everyone you see working with you that wants your progress, in a nutshell I want you to know that 95% of our leaders and our judiciary are highly corrupt thereby making it almost impossible to succeed even when you have a good intentions of making things right because of their greed.
You talk like someone who is educated but I'm surprised to see you talked about the falling of naira against the dollar without mentioning the reason behind it, if I may ask how much was a dollar in 1999? Did the former administration left the exchange rate at how they met it? my problem is that I don't like talking too much but please when ever you want to criticize do it constructively without sentiment. Note that I'm not a politician neither do I intend becoming one before you think I'm defending any party as my own party.

My criticism was constructive. I'm apolitical but if I was to vote in 2015, I would have done so for Buhari.

Also, a lot of bad policies were his. The pegged exchange rate was suddenly introduced when he came into office. The ban on 41 items from the forex window was also his idea. He hasn't denies they weren't his.

The problem is precisely that he does not listen to his experts or to use a better word technocrats. Lamido Sanusi said as much. Same thing Amaechi echoed.

The truth is bitter

Everything that is happening to Nigeria's economy today, could have been predicted as far back as 2008. In 2012, it became obvious we were heading to hell and some of us started shouting and screaming that change was necessary to avoid catastrophe. Unfortunately, we only moved from crony capitalism to feudalistic socialism.

Brief summary. In 2008, low income earning Americans were unable to pay their mortgages. These mortgages were backed by banks from across several countries. A crisis of confidence occurred causing a global credit crunch.

Two things are responsible for growth of GDP. Productivity and credit. With lenders refusing to lend to new businesses, the global economy started to slow down. Interest rates were dropped almost to zero percent to encourage lending, but Lenders only gave money to market speculators, so Stock prices rose to unprecedented highs and commodity prices like oil and gold also rose to ridiculous levels.

Market participants sold the story that demand for commodities was on the rise while supply was falling hence the rise in prices.

Around June 2014, interests rates started to rise and with that commodity prices started to fall as speculators shifted their funds from riskier commodities to treasury notes. Countries with commodity driven economies like Nigeria, South Africa, Venezuela and Russia were suddenly exposed to the shocks the rest of the world had been facing since 2008. This is why there is so much anti immigration and also why people like trump are world leaders today. The global economy is really messed up and may be this way for an extended period.

As earlier started, two things lead to the growth of GDP: productivity and credit. Nigeria has never really been a credit driven economy neither has it been a highly productive one. We simply rely on productive countries to buy our raw materials to increase their productivity. Things have to change or poverty will consume us.

As grandstar has stated, the federal government must carryout painful restructuring. Any hope that oil will rise to over 100 dollars again is wishful thinking and even if this were to occur, it probably will not be for an extended period. A focus on primary and secondary education, and healthcare to improve productivity is also necessary.

Good luck to Nigeria.

babyphaze07:


You get problem. People who knows more than you are telling you what you must do to improve, you blabbing here. with Brexit, Britain can never be the headquarter of poverty.
You better go back to school.

You wicked gan! See finishing

grandstar:


My criticism was constructive. I'm apolitical but if I was to vote in 2015, I would have done so for Buhari.

Also, a lot of bad policies were his. The pegged exchange rate was suddenly introduced when he came into office. The ban on 41 items from the forex window was also his idea. He hasn't denies they weren't his.

The problem is precisely that he does not listen to his experts or to use a better word technocrats. Lamido Sanusi said as much. Same thing Amaechi echoed.

The truth is bitter

When he pegged our naira what was the exchange rate? When he now listen to the economist and floated the naira what happened to our exchange rate- why did he have to rush back and peg the naira again? And start to fight to stabilize it- we see and select what suits us- we leave the obvious facts and play oblivious to the facts- when the man asked what do we float the naira against the dollar - what do we export to them, the pound what is our level of trade with them or the Swiss francs - our so called professor of finance just said float it- everybody sabotaging the economy those that had $2k used worth N240k suddenly had N700k - most of them aborted their holidays the man had to come back and peg the dollar at N306 and fight to narrow the difference between the official market rate and the black market all these you people would not see- i just Taya for una for this naija O! My final word: If your organization or business is affect by this administration's policies, check yourself well you have been sabotaging nigeria's economy for a very long timee

omohayek:

Yes, Buhari is indeed implementing socialist policies. The problem is that examples of said policies ever having worked are hard to find. Please, go ahead and point out a single country which has risen to first-world status through the adoption of socialism. Are socialist utopias like North Korea, Cuba or Venezuela worthy of emulation in your eyes? Or would you rather live in capitalist hell-holes like South Korea, Singapore, Japan and Hong Kong, loved as they are by the FT?

It amuses me that you think you actually made an argument in Buhari's favor, instead of damning the old coupist by showing up his poor judgement.

Point out a single first world country that doesn't have socialist programs? You need a mixed economy. Nigeria has never catered for its poor and our perverse version of capitalism (rent seeking) hasn't solved the problem nor made a dent. A strong mixed economy is where the solution resides.

msylva2147:
May your wishes follow you till the end of your life. I People will never pray good prayers for their all they know is to wish the country's backwardness so they can have something to criticize about. Nigeria will get better by the grace of God and not even the expert's prediction can change what God has for Nigeria.

Nobody is wishing the country bad.
Informed individuals are telling you today the plausible consequences of current actions and lack of decisive and well coordinated actions by the government.
Actions have consequences.
Nations are not built by wishing or by praying!

With your disposition to these comments, there is little to wonder about "your rulers" who bribe and rig to enter office ostensibly to serve you but are quick to ask you to pray to God for the resolution of challenges they are meant to resolve or accept same as an act of God. Folks with this type of mindset really deserve these types of incompetent leaders!
Oftentimes it is a burden to know, and to see beyond the present.

To talk about what you see brings ridicule from the ignorant and the partisan, and to refrain from speaking seems selfish and letting people come to harm without warning.