He said, “We sat here in this country and saw the monetary authorities literally printing money.
“And to prevent us from getting to where we are today, that was why we had an explicit clause that prevented the Central Bank from lending recklessly, granting ways and means to the federal government.
“This particular government inherited a dead economy from a micro economic point of view; this government inherited a dead horse that was seen standing but people didn’t know that it was dead. I think it’s important for Nigerians to understand this.”
“This particular government inherited a dead economy from a micro economic point of view; this government inherited a dead horse that was seen standing but people didn’t know that it was dead. I think it’s important for Nigerians to understand this.”
Emefiele really do rubbish sha. He managed the economy badly and remains the worst CBN governor till date.
ReplyDeleteIt’s well
ReplyDeleteJust keep shut jare..if you don't have anything to say..
ReplyDeletePelu Tinubu ATI iwo, no be all of una gather dey spoil this country
🤣🤣🤣 Aswearughad, if he has nothing tangible to say or contribute, he needs to zip it. Is he better than Elelefe Abi Elewele 😁.
DeleteSoludo is entitled to his opinion.
DeleteI am shocked at your comment.
The respect i had for you just disappeared.
You have done absolutely nothing to build Nigeria. You are an untaxed adult who is gaining far more from the system than you can put in. If the budget were to be divided equally among all Nigerians, each person's share would be around 30,000 Naira a year. Is that enough to run public schools and a primary healthcare system? Is that enough for roads? What do you produce to shore up the currency?
DeleteIt's shameful for adults to just gather to continue to complain everyday about problems they refuse to help to solve. The alleged Miracle workers you claim won the election have all their assets living in other countries and building economies there only to import finished goods to further drain the countries currency value. The country is borrowing to pay back debt which was consumed on fueling cars and Chinese goods by those complaining the loudest. You were even too indisciplined to build an economy around has which would have been cheaper. The party is over and the debt collectors are here. There is no short cut to developing a country of people who refuse to understand economics: even Stella was wondering aloud why we can't just print currency as of our recent economic history is not a clear lesson. Ask the Malaysia and Singapore and UAE and India s of the world: to grow, bills went up, loans had to be paid and the free goodies had to stop. People had to be filing serious taxes.
Are you ready to build yourself up to the level where you are breaking even or even pouring into Nigeria? Are you ready for the kind of tax bill paid in other countries? Can you compare Soludo or Tinubu's contribution to Nigeria to yours? Development takes time and comes with a cost. Look at the road network today and compare it with 20 years ago. Look at the number of hospitals and schools both private and public, the growth in private sector jobs and the number of Nigerians excelling in IT, arts and entertainment. Look at the vehicle assembly plants increasing in number, the rate of growth in aviation and rise in IGR AND FDI across industries. Even for those who Japan, there is enough money, like 30 million for a family to raise to change base which most citizens in the country they are heading to cannot afford.
The cup is half full. Get to doing your part.
What have you provided for the people that you want to tax... I laugh in Chinese, tax and steal, who is untaxed in Nigeria, if the government don't know how to go about effective collection of tax, whose fault is it, my Grandma? Inherited bad economy from who exactly, I thought you pride yourself as being a veteran in politics and economics, do your job and stop crying more than citizens
DeleteRoads: this is rather obvious as the network keeps expanding and repairs keep going on
Deleterail: both light rail and standard guage which we didn't have expansion or improvements on during the military years
hospitals: compare the cost of surgery and even medication in government hospitals to other countries even in west Africa: this is the recruitment ground for those who want to japa after enjoying much subsidised training. An appendectomy, c section or transplant is far cheaper and safer in government hospitals
security services: if you think they are not doing anything, ask yourself if you can manage to live a full month like it was when the ENDSARS protests were hijacked with looting, rape, arson, etc nonstop in many state capitals. They are far from perfect but their absence will mean lights out for the country.
,subsidised education: the least qualified teacher in a government school has an NCE and these schools, depending on added state support, still make it to the top ten of external exams. They have a far better literacy rate than most inner city schools in the USA where literary in some areas is as high as 2/3. This includes the highly subsidised tertiary education that guarantees the guy who starts with moping floors as an immigrant in developed nations the chance to transit to a white collar job with certain certifications or a masters. You would have an idea what a university degree costs in our neighbouring countries and even across the world and how accessible it is for the average citizens there. Talking to the average guy where I schooled, most of them didn't have the chance for an offer and their entire extended families didn't have the means to support them for even a semester. Previously in the USA, even the loans when more affordable back in the day were not easy to qualify for. Today's student loans would set you back at least 70k.
subsidised electricity: compare the price/ kwh in Nigeria with any developing country and you will realise we get far more than we are charged and will not have stable power till we face the real cost. People grew up not paying these bills and the little money remitted was sometimes embezzled without digitalisation. How then do you want to maintain a grid? California is now facing this reality and rationing electricity in some areas. Same in some Australian states.
Yet, All these and more with just 30k per head, most of this borrowed!!! Haba!!! Even in super developed countries like Switzerland, welfare is taxed. In some Scandinavian countries, you must continually show proof of being unable to work or find work and to be in training for your benefits to continue and only for a certain period after which OYO. Irish MPs are proposing that people not making themselves employable with training should not be prioritised for housing and financial benefits but Nigerians would see all these free with the meagre resources they didn't contribute to and still be dragging with Somalians and Sudanese people for who suffer pass.
Nigeria is a country were about 8 out of 10 people keep all of their income and yet lie that the government is robbing them.
Which came first: the taxes or the improved infrastructure and services in developed nations? Of course you need the money to pay for the soft life. You need an extensive tax base and proof of accountability before any serious lender will bring out the big bucks. If not, you buy money ie borrow at a higher rate than it would initially cost and that will ensure that you remain impoverished and your currency is weakened like has been our case. This is why the economically educated in the USA see the need to end the FED that continues to tax the citizens by printing notes to pay debt which is automatic inflation.
DeleteThe government reforms over the years have made business easier to do but it's always a work in progress. Lagos did not transform until a certain bespectacled man with a signature cap insisted on people paying for service instead of postponing their responsibility and impoverishing themselves further in the name of awoof way day run belle.
The mindset of nothing being done reveals a terrible and misguided sense of entitlement that has crippled people mentally and prevented them from doing well for themselves.
There's no free lunch. You get what you pay for. Let's get to building.
The blame game continues.
ReplyDeletekai
ReplyDeleteHmmmmmmmm
ReplyDeleteIt's well with Nigeria
Who made you the mouthpiece of APC or Tinubu. Like all of you are not the same.
ReplyDeleteStop the useless blame games and start working.
So ludo should keep quiet. We are waiting to count his projects in Anambra. The man talks a lot.
ReplyDeleteAss kisser!!! See as he was treated as a boyboy at the inauguration
ReplyDelete