By: Emeka Udeh
I know once most people see the title of this thread, they become Sentimental and ethnically hyperactive. But this is not about any ethnic group, religion or political party. This is about the survival of our dear nation.
I can authoritatively say that buhari and the APC have no plans for Nigeria.All they wanted is power, they have got it now and don’t know how to handle it.
President Buhari is hiding behind the fight against corruption to distract Nigerians from his lack of understanding and solutions to Nigeria’s economic problems.
Yes buhari is fighting corruption, but corruption did not start with the past administration. As a matter of fact, I am not sure any Nigerian president has been as corrupt as abacha who he called a saint(story 4 another day).
Does buhari mean well for Nigeria ?Yes . Did Gej mean well for Nigeria ? Yes.
But having a desire without a plan is like building a castle in the air. I can stay in my room and wish to go to America, if I don’t get the required information and follow the application process, I will remain in my room.
That is the situation facing PMB, he is not well informed about our economy. I strongly believe that buhari did not know the content of the budget which he presented, all he knew was the final figures.
Just like the ministerial positions were pened down by the party members who invested billions in the elections, so was the budget. Most of the funds spent in the election is to be recovered through the budget.
That was why the movie surrounding the stealing of the budget occurred. When people criticised the budget, buhari felt embarrassed and withdrew the budget, had a meeting with the APC investors, and they decided to reduce the figures that attracted criticism and move the funds to other area that would not be noticed. All they know is that the must recover their investment through the budget.
Now, the main reason why our economy did well under Gej despite the distraction from bokoharam is not just the oil price, but the policies and his economic team.
Trust me, if Gej had won the elections, things would have been tough in Nigeria but not this tough.
First there would not be the delay in appointing ministers like Buhari did. The economic team would have swung into action to attempt to cushion the effects of the coming economic sunami.
Do you know why I said buhari has no plan or solution to our problems?
1,Buhari is going out there trying to borrow money for an over inflated budget. Is it wrong to borrow? No. But not if you don’t have plans to pay.
2, there is a difference between bringing investors into your country and borrowing money. What buhari is going for is to borrow and not bring investment.
3, The reason why a business man will borrow from a bank to do business, is because he believes that what he will do with the money will generate more money, he will pay the bank and also have profit. Because Buhari and his economic team have no solutions to our economic problem, he wants to borrow without interest. This is because the money that will be borrowed will be diverted to private pockets through the budget.
It is the interest on the loan that makes a business man work round the clock. This is why buhari is going out for the Islamic bond with the UAE which I don’t know the conditions attached.
Buhari, why are you going outside Nigeria to borrow, when Nigerians are ready and willing to lend to you and the APC? Just make the bonds and treasury bills attractive, then watch Nigerians lend you as much as you want. But because most of the money that will be borrowed will end up in the pockets of the party chiefs, buhari is afraid of borrowing with interest. Because he will be forced to pay Nigerians back their money when it matures and there won’t be any money to pay, because they have shared it.
So rather than borrow from the people and pay them with interest if you are sure you have good plans to invest, the govt decides to take from the people by force by Deeping their hands into our accounts and collecting N50 from each transaction.
Buhari and the APC want to short investors out, borrow from the Arab world, and leave Nigerians in debt.
WHY DOES BUHARI NEED OKONJO IWEALA?
1, she understands our economic situation.
2, she understands the fears and desires of foreign investors
3, she can create the balance that will favour both Nigerians and foriegn investors.
Buhari and his economic team are still struggling to understand our economic challenge. Because they don’t understand, they can’t provide a solution.
Buhari and his team believe they can frustrate investors with their policies and then go out their and borrow from the west. No wonder he is going to the Arab world for non interest loan.
But will Nigeria survive without foriegn investors? No. What will happen is there will be a lot of cash for the govt officials to share, but there will be no jobs.
Our foriegn reserves will dry up and there will be hyper inflation. Naira will exchange at over 500 for a dollar.
The entire system will get messed up and we end up like Zimbabwe.
At that time, we will be on our knees begging investors and their terms will be so unfavourable for us. It is better buhari swallow his pride and beg NOI who can bring the nigerian economy and foriegn investors to a table for negotiation and get us a good deal now. If he keeps being stubborn, and messes things up real bad, there won’t be room for negotiation, we will just have to take whatever they offer.
Most Nigerians will say, to hell with foriegn investors, we can make it on our own.
With the kaduna and PH refineries shut down, Nigeria needing to import fuel and pay subsidy, importers needing forex to import. How long will it take before we run out of forex?
Then it will be 10k to a dollar and mega inflation. Buhari better swallow his pride and do the needful before he grounds this nation.
Udeh writes from Port Harcourt
No comments:
Post a Comment