Buhari Should Beg Ngozi Okonjo Iweala 
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
