Thursday, February 23, 2017
Add this page to Blinklist Add this page to Del.icoi.us Add this page to Digg Add this page to Facebook Add this page to Furl Add this page to Google Add this page to Ma.Gnolia Add this page to Newsvine Add this page to Reddit Add this page to StumbleUpon Add this page to Technorati Add this page to Yahoo


ideas have consequences

You are here:Home>>Items filtered by date: November 2016
 
DA Article Expo Module
 
AllAfrica News: Latest
All Africa, All the Time.

The former Nigerian President, Chief Olusegun Obsanjo  spoke at the first annual lecture of Akintola Williams Foundation in Lagos and  reacted on the state of the economy . He “said it was uncharitable for the present administration to be blaming past governments that had served since 1999, noting that only a comprehensive framework would save the country. Obasanjo, who spoke on the theme: Nigeria, Yesterday, Today and Tomorrow: Governance and Accountability, observed that Nigeria had the right people, who could be brought together to help device the right economic policy that would get the country out of the current economic woes.”


Chief Obasanjo  words:
“Again, now we are being told the projects will pay themselves when we know damn well they will not. If we borrow some thirty billion dollars in less than three years, we would have mortgaged the future of Nigeria for well over thirty years to come. There may also be the problem of absorptive capacity which will surely lead to waste. A careful scrutiny of the projects with prioritisation and avoidance of waste and taking into account avoiding bunching of debt service in future especially when no one can accurately forecast the global and national economy will indicate less than thirty per cent of the foreign loan being requested as prudent. We must not be unmindful of internal borrowing either. It impacts somewhat differently on the economy but it must not be allowed to crowd out the ability of the private sector to borrow to grow the real economy which is to lead us out of the recession.If we do not fix the economy to relieve the pain and anguish of many Nigerians, the gain in fighting insurgency and corruption will pale into insignificance. 


He continues:
“No administration can nor should be comfortable with the excruciating pain of debilitating and crushing economy. Businesses are closing, jobs are being lost and people are suffering. I know that President Buhari has always expressed concern for the plight of the common people but that concern must be translated to workable and result-oriented socio-economic policy and programme that will turn the economy round at the shortest time possible. We cannot continue to do the same thing and expect things to change. That will be a miracle which normally doesn’t happen in normal national economies. We have people inside and outside who can be brought together to help device the right economic policy and programme to get us out of the pit before we fall over the precipice into a dark cave 



Chief Obasanjo further emphasis:
“The blanket adverse comments or castigation of all democratic administratios from 1999 by the present administration is uncharitable, fussy and uninstructive. Politics apart, I strongly believe that there is a distinction between the three previous administrations that it would be unfair to lump them all together. I understand President Buhari’s frustration on the state of the economy inherited by him. It was the same reason and situation that brought about the cry for change, otherwise, there would be no need for change if it was all nice and rosy



Obasanjo concluded by emphasizing on having a credible  economic policy:


“Now that we have had change because the actors and the situation needed to be changed, let us move forward to have progress through a comprehensive economic policy and programme that is intellectually, strategically and philosophically based. I am sure that such a comprehensive policy and programme will not support borrowing US$30 billion in less than three years. It will give us the short-, medium- and long-term picture.”

credit: Charles Kumolu of Vanguard

Featured Articles and Reports

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15

Strategic Research and Analysis

  • NIGERIA VENTURING INTO NUCLEAR AGE: PRECAUTIONARY MEASURES ARE NECESSARY NIGERIA VENTURING INTO NUCLEAR AGE: PRECAUTIONARY MEASURES ARE NECESSARY

    Nuclear energy and nuclear technology can be of great aid to Nigeria in her endeavor to supply steady, reliable and clean energy for her domestic electric consumption. Without doubt Nigeria at this stage of her industrial stage must do something about the paucity of electricity to power her industries and residential homes. Nuclear technology with its entire prospect has its challenges that must be appreciated and be given the requisite attention...
  • Goodluck Ebele Jonathan writes to President Trump Goodluck Ebele Jonathan writes to President Trump
    Dear Donald J. Trump,

    By the grace of God, President of the United States of America.



    As the United States of America opens a new chapter today, many around the world, myself inclusive, are optimistic that the success you have achieved in your career as one of the world's foremost entrepreneurs will be translated to your life as a public servant and custodian of the trust of the American people.

  • Naira is falling to nearly N500 to $1 Naira is falling to nearly N500 to $1
    Macroeconomic dislocation and the distressed pressure brought to bear on naira is triggering the precipitously freefall of the value of the Nigeria’s currency.  This is now beyond the pale, a disastrous saturation point and if it continues unchecked the naira as we know it will become a worthless currency just like the Zimbabwe currency.

    Since the official devaluation of naira coupled with negative growth of the economy, things are...
  • Britain’s Theresa May on Israel: When a leader speaks from both sides of her mouth Britain’s Theresa May on Israel: When a leader speaks from both sides of her mouth

    The British Prime Minister, Therese May is trying too hard to become the next Iron lady of conservative party in the reminiscent and mode of the late Margaret Thatcher.  But is she the real deal?  Is she willing to do what it takes to deserve the title of the iron lady? When Thatcher took over the helms of affairs, she instituted numerous reforms that brought Britain towards the path to true capitalistic society. She was also loyal to her...
  • RePrint Of Hitler’s ‘Mein Kampf’  Selling like a Hot cake in Germany RePrint Of Hitler’s ‘Mein Kampf’ Selling like a Hot cake in Germany

    Sales of Adolf Hitler’s “Mein Kampf” have soared since a special edition of the Nazi leader’s political treatise went on sale in Germany a year ago, the German publisher has said.



    The book outlines Hitler’s ideology that formed the basis for Nazism and sets out his hatred of Jews, which led to the Holocaust.



    The new edition is the first reprint since World War Two, released last January...
  • Biafra: Can One Kill an Idea Through Coercion? Biafra: Can One Kill an Idea Through Coercion?

    “Injustice anywhere is injustice everywhere”, and “he who holds a man down stays down” (Martin Luther King).  Slowly but steadily, Nnamdi Kanu’s detention in Nigeria, and the IPOB (Indigenous People of Biafra) cause, are beginning to resonate around the world, propelled by the phenomenal presence of the Nigerian and Igbo Diaspora around the world, especially in the US.


    It took a while for Igbo elites in the US...
  • Prince Harry Reveals  ‘I Feel More Like Myself in Africa Than Anywhere in the World’ Prince Harry Reveals ‘I Feel More Like Myself in Africa Than Anywhere in the World’
    Prince Harry may be a British royal, but he feels most at home at a location a little further south.



    That place is Africa, a continent Harry has traveled to (and worked in) multiple times over the past 20 years. His first visit came just after his mother’s death in 1997, when his father, Prince Charles, took him and his brother, Prince William, to clear their heads after tragedy. Now, he makes the trek annually.

  • Anambra State vs Niger Delta Anambra State vs Niger Delta
    Lets look at Anambra state and see why it is more sustainable than most oil producing states.



    There are three major cities that drive the economic prosperity of Anambra state; Nnewi, Onitsha and Awka.



    Nnewi is the industrial city of Anambra State. Nnewi is home to several indigenous industrial manufacturing companies. Nigeria’s first car manufacturing plant is located at Nnewi. Nigeria’s auto part...
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15

Comments

HOUSTON °F
ABUJA °F
LAGOS °F
JOHANNESBURG °F
    Ferienhaus Ostsee
1 DOW 20,812.93
+37.33 (0.18%)    
2 S&P 2,362.26
-0.56 (-0.02%)    
3 NASDAQ 5,829.80
-30.83 (-0.53%)    

Want to Submit an Article?

Or would you like to contact us?

Find more info here>>