The State Of The Nations Economy,Austerity Measures and Failure of Nigerians By Olugbenga Pelumi. I really dont know how to start here because whichever way I think of, The thoughts of Jonathanians not subscribing to facts disappoints me.They believe anybody that criticizes the administration of Jonathan is being paid by APC,They are being oblivious to the fact that CRITICISM is what makes a good and responsible government, Even barrack obama of USA is hated by 60percent of Americans presently, I challenge all Jonathan supporters to go to their search column on facebook, Type Republican National Committee or The Tea Party These are the two main opposition parties in the United states of America, I follow these pages and they give Obama a run for his money,They criticize,condemn and even insult him everyday there,I challenge you people to go to these pages and see how americans are insulting obama, I also challenge you people to go to YOUTUBE and watch the video of a CNN reporter calling obama a PSYCHO! I further challenge you guys to go and make your research on how theyre planning to impeach obama for making the USA borders porous to illegal immigrants. If it was in Nigeria they call Jonathan a psycho or a dunce,They will almost kill you but in America today,They stay in front of white house everyday calling Obama names,Thats the work of the opposition,They shape the incumbent! If you guys needs proofs, I will send you screengrabs, Lets get back to Nigeria now. To those who know, The Economy of Nigeria presently is a living dead due to dwindling oil prices, A barrel of crude oil now goes for 73dollars whereas it was being sold at a higher price before(100dollars).This has crumbled the economy of Nigeria,A country that depends mainly on crude oil. The minister for finance and the co-ordinator of our economy,Ngozi Okonjo Iweala announced austerity measures on sunday,Before I move further,Let me clarify or if you like,let me define the term austerity, According to INVESTOPEDIA,An online economical and financial dictionary,It defines Austerity as a state of reduced spending and increased frugality in the financial sector. Austerity measures generally refers to the measures taken by governments to reduce expenditures in an attempt to shrink their growing budget deficits. INVESTOPEDIA EXPLAINS Austerity measures Austerity measures are generally unpopular because they tend to lower the quantity and quality of services and benefits provided by the government. Now,For those who are not well versed,Austerity goes like this. 1.There is a downturn In the economy. 2.the money going out is more than what is coming in. Basically spending more than you earn (akotileta). The sensible thing to do, Cut waste,tax the wealthy,reduce the salaries of ministers,senators and others, and only concentrate on the essential. Waste like constituency projects, Abuja tower,selling of the several private jets in the presidential fleets,reduction of salaries and allowances of ministers,senators,governors and house of reps memebers,closing down or handing over all the rubbish glorified landing strips(airport )reducing the number of ministries and getting rid of political jobbers like the assistant to the assistant deputy assistant to the minister of education. What they(Our Minister for finance and those managing the economy) will actually do : 1.Nothing about the waste and corruption 2.remove Subsidy but continue to award Subsidy 3.borrow borrow but it will all end in foreign banks 4 the number of private jets will continue to increase 5.they will start selling government properties to themselves for peanuts ( refineries, railways, government buildings, airports etc 6(..........put anything want in this space............... 7.They(Ministers,President,Senators,governor) will never take pay cut,Including our minister for finance. What will happen 1.your petrol prices will rise, expect N150 per litre. 2.expect to pay more than N200 for $1 3 Everything imported into the country will get more expensive like rice( that one for ekiti). Since we make almost nothing,you will become poorer.for instance, most nigerians are more or less 21% poorer than they were 2 months ago due to the recent devaluation alone. You will be paying 20 naira more for every N100 you spend. 4.predictable,the useless civil service will go on strike, The whole economy would be brought to its knees. Before I continue, Let me point out these facts and set the records straight, To make a better Nigeria,There must be room for criticisms,One thing about me is that I love telling people what they dont want to hear and what I will tell you people now is that,If we dont stand up today and speak in one voice, By the latter stages of December, Most Nigerians will start feeling the heat of the collapse of our economy,Most people wont be able to live a good life again, I wont be suprised if you end up not celebrating the yuletide to your satisfaction when there wont be enough money in circulation and the prices of commodities would increase outrageously! Our fininster for finance said they will withdraw 2billion dollars from our ECA(Excess Crude Oil Account),She said they want to use the money to cushion the economy, Now they want to bankrupt Nigeria with their own failure, For several years now,Nigeria has(or should I say HAD) been enjoying high crude oil prices,what have they done with the money??? They only wasted it on private jets,luxurious items and materials, Now that the economy is on its knees,They now remember Nigerians exists, How much is Okonjo iweala earning??? I learnt they pay her in dollars(imagine a minister for finance adding to the devaluation of naira),Let her receive pay cut! When Jonathan was travelling with 500delegates and I complained,They said am making noise, Now this is the end result, The devaluation of the naira and dwindling crude oil prices has placed Nigeria on the axis of an economical bermuda triangle. Today,I told one of the numerous ill informed Jonathan apologist that the president has 11 private jets,He said what if he has 20, That he worked for it!!! I didnt know what to say,Someone uses billions of TAX payers money to buy luxurious jets and instead of you to lead protests to aso rock,You said he worked for it, No wonder wole soyinka said Nigerian Youths are the most useless set of people on earth Now I know better, Even if Jonathan uses all the money Nigeria has to buy private jets,Some gullible and demented Nigerians will still not care, The masses must not suffer for their failure,when they were enjoying high oil prices,Instead of them to utilize it with prudence,They lavished it anyhow,Now the oil price has come down,Theyre asking the poor to pay for it,Let all of them take pay cut,The yorubas would say Omode peku,Odaje,Opa eran,Odaje,Owa pa arogidigba,Owa gbe ka awon obi eh ninu ile,Eni ti o je gbi kole ku gbi Its sad our leaders keep taking us for morons and we keep doing like zombies! #Am really pissed@our lack of actions!
Posted on: Tue, 18 Nov 2014 19:14:07 +0000
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