Stella Dimoko Korkus.com: Emir Of Kano Sanusi Lamido's Thowback Interview As CBN Gov

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Saturday, 17 September 2016

Emir Of Kano Sanusi Lamido's Thowback Interview As CBN Gov

You need to watch this video if you can..It was a speech by the Emir Of Kano in 2012 when he was CBN GOV...He saw recession coming.I wish someone had listened to him and taken him serious.....




This man is so brilliant....I wish he can Educate the Present government of how the way forward should be....




68 comments:

ANGELRAY4SDK said...

He's indeed intelligent.

Bell Jacks said...

OK o..we hear.

Nwa AMAKA said...

Sanusi is a very intelligent man. Well learned.
Don't expect anyone to listen to him. His made. His kids are made. His generations are made. Insult him from now till tomorrow the man is a made man and says the truth not minding who is hurt.

Anonymous said...

He sponsored boko haram he's one of the many problems in the north

LUCILE COCONUT OIL ABUJA 07059605320 Pin- 2BC6235E said...

We haf heard

Ms. Nicey said...

We like theory too much in this country. Practical Na zero.

Anonymous said...

I love me an intelligent dude.

Anonymous said...

I've been saying this, even posted the link some time ago. Okonjo iweala, with all her supposed economic know how, did not heed his advice. I won't even call jonathan, what does that one know. They're part of the reason we're where we are today.

All those calling jonathan hero now are the same people who were insulting sanusi when he said $20 billion was looted under their hero.

And what did their hero and economic witch do? They sacked sanusi illegally for saying the truth and replaced him with an economic imbecile whose sole purpose was to aid them in their looting.

Anonymous said...

God punish okonjo iweala, GEJ and all those who helped to bring nigeria down. May they never have peace

calabar Chick said...

OK!

Rhoda Rex said...

😢😢😢😢😢😴

Anonymous said...

This is similar to how Jehovah's witnesses are busy warning pple that this system of things is about to end...but no one is listening.just d same way they didn't listen to Noah in time past.

Abaraonye Nonye said...

Oh this man is intelligent..so all of you shouting buharinomics...this man was the wailing wailer but you guys turned deaf ears..Nigerians hate hearing the truth and love the lies..thats why sometimes we deserve the kind of leaders we have..this administration inherited a huge debt no Thanks to PDP..But posterity will judge everyone that brought us into this mess...

Anonymous said...

Wow I respect his intelligence... U now see how the past administration finished 9ja

Anonymous said...

Wow I respect his intelligence... U now see how the past administration finished 9ja

shirley said...

He was CBN GOV he knew what was goin in and out of Nigeria account. Jonathan and his co milked this country dry.God help us through the suffering

Dat awesome gal said...

The guy make sense die.Very intelligent.Enough respect.#truth be told.

Toye crown said...

make those learner consult the oracle(Sanusi).

Anonymous said...

Oh so he is brilliant now??!! When he blew the whistle on missing monies and excessive spending with no savings in GEJ's tenure, the social media and commenters called him all sorts of names. But now he's brilliant. Shame on you all

ideal cakes 07054561379, BBM C001661C3 said...

And here we are in recession. Quit the blame game and diversify now. It was predictated, no one listened. It was starring us in the face but we decided to be gullible.
The pain will be so deep but we'll come out strong if we can put aside our differences, come together and lift this country up. This is the only country we have Nigeria.

Anonymous said...

I like this comment. I keep saying...If Jonathan was still the president of Nigeria, we would have been like Venezuela perhaps even worse. Where we would have started trading our crude oil for drugs from India. Nigerians are just like the stubborn children of Israel. Complaining even when their prayers are being answered by God in his own way and for our benefit.

Joy Nwigwe said...

ῳơῳ... ῳơơɛཞ...ῳơῳɛʂɬ! ʂąŋųʂı ʂơ ཞıɠɧɬ ʂơ ɬཞųɛ ąŋɖ ʂų℘ɛཞ ıŋɬɛƖƖıɠɛŋɬ.
ı ʝųʂɬ ཞɛąƖıʂɛɖ ɬɧąɬ ŋıɠɛཞıąŋʂ ąཞɛ ɬɧɛ ơŋɛʂ ɖɛʂɬཞơყıŋɠ ŋıɠɛཞıą.
ɧɛ ąʂƙɛɖ ą զųɛʂɬıơŋ ɬɧąɬ " ąʂ ą ℘ཞı۷ąɬɛ ơཞɠąŋıʑąɬıơŋ Oᖇ ıŋɖı۷ıɖųąƖ ῳɧơ ʂąყʂ ɬɧąɬ ɬɧɛ ɠơ۷ɛཞŋɱɛŋɬ ıʂ ƈơཞཞų℘ɬ, ɧą۷ɛ ყơų ŋơɬ ıŋ ơŋɛ ῳąყ ơཞ ɬɧɛ ơɬɧɛཞ ცཞıცɛɖ ą ɠơ۷ɬ ơʄʄıƈıąƖ ცɛʄơཞɛ?" ῳɧıƈɧ ıʂ ʂơ ɬཞųɛ.
ıŋ ʄąƈɬ ąɬ ą ℘ơıŋɬ ı ʂɬąཞɬɛɖ ƈཞყıŋɠ ąŋɖ ƈųཞʂıŋɠ ɬɧơʂɛ ɱąཞƙɛɬEᖇᔕ ɬɧąɬ ῳɛཞɛ ɠı۷ɛŋ ʂųცʂıɖıɛʂ ცųɬ ıŋʂɬɛąɖ ơʄ ცཞıŋɠıŋɠ ıŋ ɬɧɛıཞ ℘ɛɬཞơƖɛųɱ ℘ཞơɖųƈɬʂ ɬơ ơųཞ ƈơųŋɬཞყ ɬɧɛყ ɖı۷ɛཞɬ TᕼEᗰ ɬơ ɬɧɛ ŋɛąཞცყ ƈơųŋɬཞıɛʂ... ῳɧąɬ ῳıƈƙɛɖŋɛʂʂ
ıʂ ıɬ ɬɧɛ ŋıɱąʂą ơʄʄıƈıąƖʂ ɬɧąɬ ƈơƖƖɛƈɬ ɱơŋɛყ ɬơ ɱąཞƙ ɬɧąɬ ą ۷ɛʂʂɛƖ ɧąʂ ცɛɛŋ ცཞơųɠɧɬ ıŋɬơ ɬɧɛ ƈơųŋɬཞყ ʄཞơɱ ɬɧɛ ℘ơཞɬ ცųɬ ơŋƖყ ʄơཞ ɬɧɛ ۷ɛʂʂɛƖʂ ɬơ ცɛ ɬąƙɛŋ ɬơ ơɬɧɛཞ ƈơųŋɬཞıɛʂ... ı ῳɛɛ℘ ʄơཞ ɬɧɛ ῳıƈƙɛɖŋɛʂʂ ơʄ ɬɧɛᔕE ცųʂıŋɛʂʂ ɱɛŋ ąŋɖ ῳơɱɛŋ ıŋ ɬɧıʂ ƈơųŋɬཞყ.
ɬɧɛყ ɬąƙɛ Ɩơąŋʂ ʄཞơɱ ɬɧɛ ცąŋƙʂ, ɠɛɬ ʂųცʂıɖıɛʂ, ცཞıŋɠ ıŋ ơཞ ɖı۷ɛཞɬ ɬɧɛıཞ ℘ཞơɖųƈɬʂ ცųɬ ɖơŋɬ ℘ąყ ცąƈƙ ɬɧɛ ცąŋƙʂ, ɬɧɛཞɛცყ ƈąųʂıŋɠ ɬɧɛ ცąŋƙʂ ɬơ ცɛ ɖıʂɬཞɛʂʂɛɖ ąŋɖ ɬɧɛŋ ʄơƖɖ. GOᗪ ᗯIᒪᒪ ᒍᑌᗪGE TᕼEᗰ.

sassychick *i am stelladimokokorkus best friend* said...

Brilliant man that was sacked by their supposed hero for saying the trth

sassychick *i am stelladimokokorkus best friend* said...

Don't show your stupidity here

sassychick *i am stelladimokokorkus best friend* said...

God bless you for this...Jonathan destroyed Nigeria.

sassychick *i am stelladimokokorkus best friend* said...

God will really punish all of them..and their blind supporters. .who see the truth and still pretend

Anonymous said...

People like Queen and boss, even if Jonathan puts a loaded gun to dere head, they will still support him and blame Buhari.
They are all one and d same, few years from now u will see Jonathan and Buhari sipping Palm wine in Otuekue abi ow dem d spell d village, together.
I blame right from Babangida, Abacha o, Abdul Salam o, Obj, Jonathan, Buhari for the mishaps in dis country, no one is excempted.
Stop supporting ppl dat don't give a fuck about you, or d common man on d street.
Leaders rule bcos they want to govern and alleviate the sufferings of d common man. The Nigerian counterparts are strictly in it for power and embezzling of funds. Nothn concern them with common man.

sassychick *i am stelladimokokorkus best friend* said...

The shame is on Jonathan's supporters

sassychick *i am stelladimokokorkus best friend* said...

All the Jonathan's otimkpu on this blog won't come and watch this..after they will all run out like disabled chicken and he talking trash about buhari

cakes by Bella's, Abuja. 58DA8ADF, 07080305132, instagram @cakes_by_bellas ,twitter @CBellaabuja said...

It is well. What's the way forward now ?

Anonymous said...

God help us

nsikan davies said...

HMMN....IT'S ONE THING TO GO TO SCHOOL AND IT'S ANOTHER THING TO BE EDUCATED. THIS IS HARDCORE CRITICAL THINKING.

Anonymous said...

Difficult times ahead IS NOT the same as recession ahead .

Anonymous said...

Shut up

Anonymous said...

See Nigerians with their Foolishness. Did Anyone bother to no the Event where he made this Speech and What it was about. This Speech was made when GEJ Govt was letting Nigerians see the need to Stop Fuel Subsidy and Invest. But Who are those that Marched The Streets and Went to Court against the Savings and Subsidy. #Tinubu, #Amachi, #MyopicNigerians, #Buhari, #El-rufia, and All The People Now in this Govt. The People in Govt Now has never Meant Well for Nigerians and will Never do. They are Only interested in Theirselves. Even Now More Corruption is going on than Nigeria has never experienced by the Very Same People Who Instituted Corruption in Nigerian and Started Still in Millions of Dollars in 1979 TO 1985. #Obasanjo, #Buhari, #ShehuYaradua, #Atiku, #Saraki, #TYDanjuma, etc.

Anonymous said...

Over intelligent, well spoken.
I hope the idiots and illiterates blaming and pointing accusing fingers at Buhari can see what the past administration has done to Nigeria.
We need Revival.

Lala said...

Boo of life!

Anonymous said...

The truth will always come out. Those who are smart and know what economics and governance is all about knew and said it all along that Jonathan and his government destroyed Nigeria. And if he had continued to be president, Nigeria will be begging Niger republic for food by now.

White Diamond said...

Lmao @ disabled chicken. Abegi I no fit laugh, the sun too much.

#WhiteDiamondOut

Anonymous said...

You're the foolish one here, always looking for one excuse or the other.

1). Sanusi said jonathan looted in Billions of dollars, you didn't address that. Did the people in government now also make jonathan sack sanusi?

2). It seemed to have skipped your mind that even though jonathan knew what was best for the country, he was still too weak to implement it. Did any court give him the order to stop?

3). You can make any accusations you like, just like you said there's more corruption now. You can even say buhari drinks human blood daily to stay alive. It's all mouth. You can only spew so much BS in your attempts to defend the incompetence of the previous regime.

4). If marching in the streets stopped him from removing subsidy then what stopped him from diversifying the economy? Did he not think that he'll still be president today and therefore shouldn't he have planned for the future?

I can quote so many of jonathan's statements that further show his incompetence but I won't waste my time on you. You've already shown that you blame this government for everything and consider those who disagree fools as your first sentence implies.

Anonymous said...

Pardon me but is being in a recession not considered to be a difficult time or are you from the school of stealing is not corruption

Anonymous said...

See Nigerians with their Foolishness. Did Anyone bother to no the Event where he made this Speech and What it was about. This Speech was made when GEJ Govt was letting Nigerians see the need to Stop Fuel Subsidy and Invest. But Who are those that Marched The Streets and Went to Court against the Savings and Subsidy. #Tinubu, #Amachi, #MyopicNigerians, #Buhari, #El-rufia, and All The People Now in this Govt. The People in Govt Now has never Meant Well for Nigerians and will Never do. They are Only interested in Theirselves. Even Now More Corruption is going on than Nigeria has never experienced by the Very Same People Who Instituted Corruption in Nigerian and Started Stealing in Millions of Dollars way back from 1979 to 1985. #Obasanjo, #Buhari, #ShehuYaradua, #Atiku, #Saraki, #TYDanjuma, etc.

Ifeoma1010 said...

@Nonye : Did you understand that video at all? That was the interview sanusi, ngozi and dezianni gave to educate Nigerians on the need for total subsidy removal. The Jonathan administration which those three represented saw what was coming and they knew subsidy removal was imperative as far back as 2012. Why do you blame PDP and GEJ when the video was about preparing the people to embrace 2012 subsidy removal? You need to blame the people in power today who prevented subsidy removal from happening back in 2012 when it was the safest time to do so.

Ifeoma1010 said...

How did the past administration finish naija? Did you understand that video at all? Or is your case that of he more you look the less you see...lolol?! The video you just watched was the interview sanusi, ngozi and dezianni gave to educate Nigerians on the need for total subsidy removal. The Jonathan administration which those three represented saw what was coming and they knew subsidy removal was imperative as far back as 2012. Why do you blame PDP and GEJ when the video was about preparing the people to embrace 2012 subsidy removal? You need to blame the people in power today who prevented subsidy removal from happening back in 2012 when it was the safest time to do so. How can a country be paying petroleum subsidy of almost N1trillion? Is that sensible. They saw this and wanted to remove it. But Nigerians refused. As sanusi himself, the GEJ could continue paying subsidy till 2015 but the next administration would feel the impact. Had Buhari known in hindsight what the result to their foolish opposition to 2012 subsidy removal would cost him today I am sure he would have had a rethink. Na him dey power now so it is good he and his cronies feel the result of their actions on the last government. A man shall always reap what he sows. That is a fact that is always constant.

Ifeoma1010 said...

Indeed you are very foolish. How did the past administration destroy naija? Did you understand that video at all? Or is your case that of the more you look the less you see...lolol?! The video you just watched was the interview sanusi, ngozi and dezianni gave to educate Nigerians on the need for total subsidy removal. The Jonathan administration which those three represented saw what was coming and they knew subsidy removal was imperative as far back as 2012. Why do you blame GEJ when the video was about preparing the people to embrace 2012 subsidy removal? You need to blame the people in power today who prevented subsidy removal from happening back in 2012 when it was the safest time to do so. How can a country be paying petroleum subsidy of almost N1trillion? Is that sensible. They saw this and wanted to remove it. But Nigerians refused. As sanusi himself said, the GEJ administration could continue paying subsidy till 2015 but the next administration would feel the impact. Had Buhari known in hindsight what the result to their foolish opposition to 2012 subsidy removal would cost him today I am sure he would have had a rethink. Na him dey power now so it is good he and his cronies feel the result of their actions on the last government. A man shall always reap what he sows. That is a fact that is always constant.

Akinwale Peters said...

The wise and reasonable spoke well and those that will continue to show how stupid people think also spoke defending the gathering where what was said. I will continue to pray for Nigeria youth who's parent refused to instill proper values IN

Ifeoma1010 said...

@Anon 18:07. You are one real mugu who likes to type long nonsense.

Did you watch that video properly? If you did not, go and watch it again and digest each and every word sanusi said before you post nonsense here.

In that video, sanusi mentioned key points that should stick out to a discerning mind.

(1) Nigeria's subsidy payment had jumped to over N1trillion which was over One third of government expenditure. It was not sustainable.

(2) Great corruption was going on with subsidy payments as the system had been structured to operate like that. It was so structured to make even an idiot rip off the government as a petroleum marketer. If you had sense you would know that this structure was built and entrenched during the military regime by those who held sway during the military era. Sanusi called those that exploited this structure rent seekers. To get rid of such idiots, the smart thing to do was to end subsidy payment and let trade economics handle the rest.

(3) From the video, it was apparent that government had no verifiable tool to checkmate the corruption going on in petroleum product importation. Instead of wasting resources and time to build a new structure the smart move was to remove the cheese from the rat a.k.a remove subsidy.

(4) The biggest thing sanusi said which you obviously missed was that, the global economy was slowing down. The engines of global growth that brought about increase in exportation of crude oil where slowing down e.g China, Brazil etc. So therefore, government needed to respond and plan ahead. He also said one important fact, subsidising petrol import created jobs for people in countries that refine petroleum products and not Nigerians. On the other hand removing subsidy, would tilt the balance and encourage creation of refineries in Nigeria which would in turn create jobs for Nigerians.

(5) Corruption. Sanusi pointed out that corrupt practices abounds in government sector because private sector dudes love to bribe government officials (which is a fact). If you continue subsidizing petroleum imports. You give rent seekers more money in hand to bribe government officials. Remove subsidy so that all man will find for himself.

Hope you grab now?

Anonymous said...

Anon 12.53, ur daftness is beyond redemption.

cathy said...

Ifeoma thank you, people don't take their time to read and reason before responding to that which is being discussed.

cathy said...

This government should do the needful bring people who knows what they are doing whether they were in the past government or not, get down your high horse and bring back our Nigeria

Anonymous said...

Spot on @ Ifeoma! Y did Stella not upload all that the various speakers said! All those commenting rubbish didnt even know the essence of that gathering. Even wen the govt made attempt to save what happened. Maybe Adams, Rotimi etc can explain better. Pls Ifeoma dont waste ur time educating them. Nigerians n hypocrisy are like 5 n 6.

Anonymous said...

Spot on @ Anon. 15:53 n Ifeoma. I know of the facts spoken above so Let anon 18:07 keep fooling himself n his likes.

Anonymous said...

Ifeoma1010, you are even too daft to realise APC or Buhari weren't there in 2012.

If you indeed listen, you'd hear what he laid out was the corruption going on under GEJ's govt. Fuel subsidy was just one of them and even after laying it bare for GEJ, your hero did nothing! He was still offloading PMS into Atlas Cove that was 3 times bigger than the it's capacity and NOI was Approving and Paying.

Like Sanusi said, he wanted to be popular rather than decisive thus corruption was allowed to fester uninhibited.

Anonymous said...

@Anon 18:11 is truly from the camp of stealing is not corruption indeed.

Anonymous said...

Ifeoma1010 you are indeed without ability for critical reasoning.

1. How did subsidy payment jump to 1 Trillion from 250 Billion? Was it not due to the incompetence and corruption of GEJ?

2. The system wasn't structured to operate like that. Subsidy was there under OBJ and Yar'adua and was about 250Bln. GEJ corrupted the structure and corrupted the system and stole us blind.

3. GEJ had no tool to checkmate corruption! You really are a nutcase! Was EFCC not there or were Police on leave? DSS were sent to Hajj or what? But he had the tools to unconstitutionally sack Sanusi right, you are a case mehn.

4. Apparently you missed the biggest import of us earning high Revenues from oil sales that GEJ should have invested in Repairing the Refineries to create jobs for Nigerians. Did you miss that?

5. Tell me whose responsibility was it to nab corrupt persons? Me, You or Govt?


You indeed need a brain reset because sentiments has skewed it in its present state.

Anonymous said...

Ifeoma, Abeg stop with your stupid explanations already. It's sickening and to say you went to school.

Anonymous said...

Ifeoma, stop showing your ignorance on every comment.
Anonymous 18.07 well said.

Anonymous said...

Ifeoma your stupidity is out of the world. Please get your self out of people with intelligence comments. Mumu

Anonymous said...

Ifeoma1010 you just typed long nonsense without saying anything. I understood clearly. Answer my questions if you can.

Questions 1, 2 and 4 please then you'll be taken seriously.

number6 said...

And the way Diezani was fanning herself with that book, you'll just know she was stealing all the money. 🙄

sisi eko said...

Indeed. Skillful and articulate. He applied his intelligence to his work hence he was able to clean up nicely without a trace. Hmmm

Yes, Sai Sanusi, Sai SLS

OK bye

sisi eko said...

Oh la la

sisi eko said...

Shuoooo abeg o. Time never reach for that side biko. Lol

Hyphen Pharmacy said...

@Anon 17: In your mind you'll think you have commented something reasonable now. I really laugh at all you over sabi Nigerians. Una no get progressive sense.

Let me school you. One of the best methods to use in check mating corruption in a government enterprise is through privatisation. No government enterprise in the world can escape corruption for the singular reason of a lack Of personal accountability. Governments of great economies in the world don't run private enterprise as it is not sustainable. Our colonial masters (Britain) understood this in the 1900's and undertook large scale privatisation under the Margaret thatcher regime. Corruption & Government enterprise na like 5 & 6 in any part of the world. Government has no business in running private enterprise and it's futile sending Interpol to chase corrupt government enterprise when the smart and cheap thing to do would be to sell them to private investors and tax the living daylight out of them. This is sensible practise.

Let's come to Nigeria. The military regime knew privatisation was the right thing to do and as far back as the 1980's they held soft adverts about the need for correct petroleum pricing. But that was where it ended for them. They instituted the subsidy structure and corrupted it over time. Subsidy payment was number one corruption for Naija.

Subsidy removal was attempted three times in different guise's in the Obasanjo regime so that Nigeria could move from petroleum product importation to petroleum product production, but these three times met foolish resistance from people via Adams oshiomole led labour. Instead of labour to go on strike for increase in minimum wage they kept holding OBJ's hand on subsidy removal. Had OBJ removed subsidy then, Nigeria would have been an economic power today. Guess what, OBJ was operating using the economic blue print of his minister of finance, Ngozi Iweala. Removal of subsidy was to go along with issuing licenses for building up of refineries. He also sold our old refineries' to Blue energy (a consortium formed by dangote. This was reversed by yardua, one of yardua's mistakes). OBJ set up EFCC, but EFCC was not the answer to the corruption in the subsidy regime. It was an economic problem that needed deft economic solution and this solution was subsidy removal.

Enter GEJ. GEJ was even nice with his own. He had his officials hold town hall meetings and wide consultations on what he was about to do (OBJ would do none of that). The video you just watched isvan example of one of those meetings (surprisingly Nigerians back then claimed one reason for their resistance GEJ to 2012 subsidy removal was that he did not sensitize people enough)

During GEJ era, subsidy payment had jumped to almost N1 trillion due to a combination of corrupt practices, exchange rate fluctuations etc. It was not sustainable. Sending EFCC to pursue corruption in subsidy payments that started since military regime and had ballooned to this extent is laughable and foolish. The answer was subsidy removal.

It was an unpopular policy but GEJ stock to it (This was strange to me as no Nigerian government likes to do something unpopular because of their greed. They would rather continue with status quo, chop and clean mouth). I later realised there was probably a personal angle to GEJ's move. I wager that, GEJ, being a bayelsa man knew that the Niger delta would benefit the most from subsidy removal. He knew that it would open up that area to an unprecedented level of economic prosperity. He also saw first hand how Northern Oligarchs weild almost 90% power over resources of the Niger delta and where milking the thing via subsidy payments. Subsidy removal would have changed the balance and tilt this in favour first for the Niger delta people and secondly for the average Nigerian Entrepreneur. It would open the way for a petrochemical industry that would have been massive. But alas, Nigerians blew the chance to smithereens.

Ifeoma1010 said...

@All those against my first comment please receive sense with this my answer as Una no get 1 atomic molecule of progressive sense. Read below:

One of the best methods to use in check mating corruption in a government enterprise is through privatisation. No government enterprise in the world can escape corruption for the singular reason of a lack Of personal accountability. Governments of great economies in the world don't run private enterprise as it is not sustainable. Our colonial masters (Britain) understood this in the 1900's and undertook large scale privatisation under the Margaret thatcher regime. Corruption & Government enterprise na like 5 & 6 in any part of the world. Government has no business in running private enterprise and it's futile sending Interpol to chase corrupt government enterprise when the smart and cheap thing to do would be to sell them to private investors and tax the living daylight out of them. This is sensible practise.

Let's come to Nigeria. The military regime knew privatisation was the right thing to do and as far back as the 1980's they held soft adverts about the need for correct petroleum pricing. But that was where it ended for them. They instituted the subsidy structure and corrupted it over time. Subsidy payment was number one corruption for Naija.

Subsidy removal was attempted three times in different guise's in the Obasanjo regime so that Nigeria could move from petroleum product importation to petroleum product production, but these three times met foolish resistance from people via Adams oshiomole led labour. Instead of labour to go on strike for increase in minimum wage they kept holding OBJ's hand on subsidy removal. Had OBJ removed subsidy then, Nigeria would have been an economic power today. Guess what, OBJ was operating using the economic blue print of his minister of finance, Ngozi Iweala. Removal of subsidy was to go along with issuing licenses for building up of refineries. He also sold our old refineries' to Blue energy (a consortium formed by dangote. This was reversed by yardua, one of yardua's mistakes). OBJ set up EFCC, but EFCC was not the answer to the corruption in the subsidy regime. It was an economic problem that needed deft economic solution and this solution was subsidy removal.

Enter GEJ. GEJ was even nice with his own. He had his officials hold town hall meetings and wide consultations on what he was about to do (OBJ would do none of that). The video you just watched isvan example of one of those meetings (surprisingly Nigerians back then claimed one reason for their resistance GEJ to 2012 subsidy removal was that he did not sensitize people enough)

During GEJ era, subsidy payment had jumped to almost N1 trillion due to a combination of corrupt practices, exchange rate fluctuations etc. It was not sustainable. Sending EFCC to pursue corruption in subsidy payments that started since military regime and had ballooned to this extent is laughable and foolish. The answer was subsidy removal.

It was an unpopular policy but GEJ stock to it (This was strange to me as no Nigerian government likes to do something unpopular because of their greed. They would rather continue with status quo, chop and clean mouth). I later realised there was probably a personal angle to GEJ's move. I wager that, GEJ, being a bayelsa man knew that the Niger delta would benefit the most from subsidy removal. He knew that it would open up that area to an unprecedented level of economic prosperity. He also saw first hand how Northern Oligarchs weild almost 90% power over resources of the Niger delta and where milking the thing via subsidy payments. Subsidy removal would have changed the balance and tilt this in favour first for the Niger delta people and secondly for the average Nigerian Entrepreneur. It would open the way for a petrochemical industry that would have been massive. But alas, Nigerians blew the chance to smithereens

Ifeoma1010 said...

@Anon 17: In your mind you'll think you have commented something reasonable now. I really laugh at all you over sabi Nigerians. Una no get progressive sense.

Let me school you. One of the best methods to use in check mating corruption in a government enterprise is through privatisation. No government enterprise in the world can escape corruption for the singular reason of a lack Of personal accountability. Governments of great economies in the world don't run private enterprise as it is not sustainable. Our colonial masters (Britain) understood this in the 1900's and undertook large scale privatisation under the Margaret thatcher regime. Corruption & Government enterprise na like 5 & 6 in any part of the world. Government has no business in running private enterprise and it's futile sending Interpol to chase corrupt government enterprise when the smart and cheap thing to do would be to sell them to private investors and tax the living daylight out of them. This is sensible practise.

Let's come to Nigeria. The military regime knew privatisation was the right thing to do and as far back as the 1980's they held soft adverts about the need for correct petroleum pricing. But that was where it ended for them. They instituted the subsidy structure and corrupted it over time. Subsidy payment was number one corruption for Naija.

Subsidy removal was attempted three times in different guise's in the Obasanjo regime so that Nigeria could move from petroleum product importation to petroleum product production, but these three times met foolish resistance from people via Adams oshiomole led labour. Instead of labour to go on strike for increase in minimum wage they kept holding OBJ's hand on subsidy removal. Had OBJ removed subsidy then, Nigeria would have been an economic power today. Guess what, OBJ was operating using the economic blue print of his minister of finance, Ngozi Iweala. Removal of subsidy was to go along with issuing licenses for building up of refineries. He also sold our old refineries' to Blue energy (a consortium formed by dangote. This was reversed by yardua, one of yardua's mistakes). OBJ set up EFCC, but EFCC was not the answer to the corruption in the subsidy regime. It was an economic problem that needed deft economic solution and this solution was subsidy removal.

Enter GEJ. GEJ was even nice with his own. He had his officials hold town hall meetings and wide consultations on what he was about to do (OBJ would do none of that). The video you just watched isvan example of one of those meetings (surprisingly Nigerians back then claimed one reason for their resistance GEJ to 2012 subsidy removal was that he did not sensitize people enough)

During GEJ era, subsidy payment had jumped to almost N1 trillion due to a combination of corrupt practices, exchange rate fluctuations etc. It was not sustainable. Sending EFCC to pursue corruption in subsidy payments that started since military regime and had ballooned to this extent is laughable and foolish. The answer was subsidy removal.

It was an unpopular policy but GEJ stock to it (This was strange to me as no Nigerian government likes to do something unpopular because of their greed. They would rather continue with status quo, chop and clean mouth). I later realised there was probably a personal angle to GEJ's move. I wager that, GEJ, being a bayelsa man knew that the Niger delta would benefit the most from subsidy removal. He knew that it would open up that area to an unprecedented level of economic prosperity. He also saw first hand how Northern Oligarchs weild almost 90% power over resources of the Niger delta and where milking the thing via subsidy payments. Subsidy removal would have changed the balance and tilt this in favour first for the Niger delta people and secondly for the average Nigerian Entrepreneur. It would open the way for a petrochemical industry that would have been massive. But alas, Nigerians blew the chance to smithereens

Anonymous said...

Will you fuck off @Ifeoma1010, you're all over the post like a bad rash. Don't you have anything better to do. Filthy goat know it all bitch

d33ve said...

I couldn't believe I watched the full 26 mins and wasn't bored.

The guy has always been a hero.I'm not surprised

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