Economic Policy

[emmanuel ewumi]

Egg heads in the house what do we have to say about the economic policy of Umar Yar Adua.Does he really have any economic policy that will drive the economy as a whole.ls our economy growing,static or retrogressing.
Does he have a world class economic team,what is the quality of advice he gets from his advisers.
lf we are employed as his advisers what will we tell him to do in order to better the lot of the common man.Although this site is devoted to the capital market,but l can tell you that any thing that affects the economy will surely affect the capital market.
Let us rub minds on how to move this country forward.
Contributions on this thread will be highly appreciated.

[threecrown]

Emmanuel,God bless you.
Thank you for bringing this up and i hope members will share there deep thoughts. It just occur to me that i cant even think of any policy that this adminstration is excuting apart from the so called rule of law. Its been too quite in the corridors of power this days which is unusual in our country.

[Michael]

These days economics is it. If the news does not affrect your pocket, then it is not news.
Someone needs to get Yaradua to subscribe to this blog. If he does he will not need most of his school book economic advisers

[emmanuel ewumi]

Originally Posted by threecrown

Emmanuel,God bless you.
Thank you for bringing this up and i hope members will share there deep thoughts. It just occur to me that i cant even think of any policy that this adminstration is excuting apart from the so called rule of law. Its been too quite in the corridors of power this days which is unusual in our country.

God bless us all.
lf the President does not do something about the economy in the shortest possible time.Am not sure if we can still be referred to as the giant of West Africa,although we used to be the giant of Africa.

[nwoyearoh]

Originally Posted by emmanuel ewumi

Egg heads in the house what do we have to say about the economic policy of Umar Yar Adua.Does he really have any economic policy that will drive the economy as a whole.ls our economy growing,static or retrogressing.
Does he have a world class economic team,what is the quality of advice he gets from his advisers.
lf we are employed as his advisers what will we tell him to do in order to better the lot of the common man.Although this site is devoted to the capital market,but l can tell you that any thing that affects the economy will surely affect the capital market.
Let us rub minds on how to move this country forward.
Contributions on this thread will be highly appreciated.

The only policy I see him pursuing now is that of active subsidy (rice, petroleum products, cement, just name it!).

We all know from Econ 101 that these are palliatives - they do not in any way connote economic progress, instead they elevate economic dependence to an art!

What was wrong with Naira denomination, I ask?

Nothing except that his entire Economic team (with exception of the CBN Governor) did NOT understand it hence it had to KILLED for now. Talk about square pegs in round holes in a country that have professors and management gurus plying their trades in the best Business schools all over the world!

The economy is defintely retrogressing - no doubt about it.

The foreign palyers are waiting to see a direction (any direction) in Yardua's economic policies before making moves again. The initial enthusiasm brought about by Baba's policies are wanning.

If I were one of his economic adivisers I will promote:

HALTING the sharing of excess crude, over half is laundered and the other half is putting undue pressures on inflation.

Spending on developmental projects that will provide some measures of guarantee for the survival of future generations of Nigeria (Dubai style)

Fiscal discipline from all tiers of government particularly at the state level where billions (not our forum member o ! ) are made available with abosulte no real audit. You go to prison if you overspend without adequate consultation from the Central government.

Human Capital development : ensuring that adequate monies are budgeted (and properly spent) for Education and make reading/studying at all levels worthwhile for the nation i.e. quality/world class education. We will gradually expand jobs by gradual building up of industrial capacities to absorb some - the rest talents to be exported; proceeds from these will eventually trickle back to Nigeria inform of remitances from the Diaspora, in billion of dollars, this will inturn lubricate the economic engine for more productivity.

.........................etc.


(in short just make me minister)

[nezvest]

Originally Posted by nwoyearoh

The only policy I see him pursuing now is that of active subsidy (rice, petroleum products, cement, just name it!).

We all know from Econ 101 that these are palliatives - they do not in any way connote economic progress, instead they elevate economic dependence to an art!

What was wrong with Naira denomination, I ask?

Nothing except that his entire Economic team (with exception of the CBN Governor) did NOT understand it hence it had to KILLED for now. Talk about square pegs in round holes in a country that have professors and management gurus plying their trades in the best Business schools all over the world!

The economy is defintely retrogressing - no doubt about it.

The foreign palyers are waiting to see a direction (any direction) in Yardua's economic policies before making moves again. The initial enthusiasm brought about by Baba's policies are wanning.

If I were one of his economic adivisers I will promote:

HALTING the sharing of excess crude, over half is laundered and the other half is putting undue pressures on inflation.

Spending on developmental projects that will provide some measures of guarantee for the survival of future generations of Nigeria (Dubai style)

Fiscal discipline from all tiers of government particularly at the state level where billions (not our forum member o ! ) are made available with abosulte no real audit. You go to prison if you overspend without adequate consultation from the Central government.

Human Capital development : ensuring that adequate monies are budgeted (and properly spent) for Education and make reading/studying at all levels worthwhile for the nation i.e. quality/world class education. We will gradually expand jobs by gradual building up of industrial capacities to absorb some - the rest talents to be exported; proceeds from these will eventually trickle back to Nigeria inform of remitances from the Diaspora, in billion of dollars, this will inturn lubricate the economic engine for more productivity.

.........................etc.


(in short just make me minister)

Man we for make you the team leader of Yaradua's economic advisers but you don't seem to have the tribal mark

[Michael]

Originally Posted by nezvest

Man we for make you the team leader of Yaradua's economic advisers but you don't seem to have the tribal mark

I Knew we had Financial advisers, I didn't realize that we have Social & Political Economists too

[waaan5]

Originally Posted by Michael

I Knew we had Financial advisers, I didn't realize that we have Social & Political Economists too

You guys have forgotten that Yar-Dua is an unrepentant Socialist! He was a king pin of PRP back in the old days. He wants to 're-distribute' the yet to be made national wealth! I do not know whether to weep or cry at the economic slide of the country!

[emmanuel ewumi]

Originally Posted by waaan5

You guys have forgotten that Yar-Dua is an unrepentant Socialist! He was a king pin of PRP back in the old days. He wants to 're-distribute' the yet to be made national wealth! I do not know whether to weep or cry at the economic slide of the country!

No wonder he cancelled the privatization of the refineries,the labour leaders were happy when he cancelled the sale of the refineries ,now he is planning to increase the price of fuel.Energy tarrif has gone up.
l do not think this Man believes in the free enterprise concept.Can we point to any government owned enterprise privatized recently,l doubt if there is any.Rather we are investing more money in these prostrate organizations.
ls our environment conducive for business,what are we doing with the proceeds from excess crude oil.
May God help us.
GOD BLESS NIGERIA.