Friday, December 19, 2014

"THE TEN REASONS WHY THE NIGERIAN NAIRA WILL CONTINUE TO DEPRECIATE AGAINST THE DOLLAR"

Firstly, the value of the Nigerian Naira is based on the global demand and the supply of the goods and services that Nigeria has to offer to the world. Secondly, the only product that the global market buys from Nigeria is her oil. Thirdly, the drop in the global price of this oil is an indication that Nigeria's oil is now less in demand. Fourthly, the decision to devalue the Nigerian Naira by 8% recently has not safe the Naira and has failed to prevent the rapid fall of the Naira against the American dollar. Fifthly, the periodical method of using the Nigeria's foreign reserves to support the Naira is not the answer and is not working. Sixthly, the Naira will continue to fall and the Nigeria's foreign reserves will also continue to be depleted. Seventhly, another major reason why the Naira will continue to crash is because the Nigeria's economy is almost 100% import oriented. Eighthly, all the basic things that Nigerians need and use are all imported. Ninthly, the importers need the American dollar to import those goods and services from the international markets to Nigeria. Tenthly, more Naira is now chasing fewer American dollar in the banks and the black market of Nigeria.

How then can Nigeria safe her economy and the Naira? Firstly, the government should allow the Naira to fall freely without supporting it until it founds its own level in the hands of the economic forces of demand and supply. Secondly, Nigeria must now diversify her national economy from the oil export into an economy than depends on taxation, agriculture, manufacturing, international tourism, solid mineral prospecting and export based. Thirdly, Nigeria must cut down the cost of governance that consumes about 30% of the annual federal budget to about 15%. Lastly, the leakages in the national economy must be stopped immediately, such as, official corruption, resource wastage and mismanagement, oil theft, money laundering, over-invoicing of imports, tax loopholes that corporations and wealthy Nigerians use to escape payment of their taxes and the shady import duty waivers ‪#‎HowToSafeTheNigerianNaira‬ 

Thursday, December 4, 2014

"THE REASONS WHY AMERICAN JURY SYSTEM IS FAILING TO DELIVER TRUE JUSTICE"

The use of the grand jury in the America's judiciary system did not indict the white police officer, Darren Wilson over the killing of the unarmed black teenager, Michael Brown in Ferguson last week. The similar type of jury also failed to indict the white police officer, Daniel Pantaleo who choked Eric Garner to his death in New York city. The jury system in America will never give the true justice that the affected families of these dead men and most Americans are looking for in many of these cases for four main reasons. Firstly, the grand jury operates in secret. The evidences that are normally put before the jury by the local district prosecutors are not made public. The local prosecutor solely guides the entire operation of the grand jury.
Secondly, the local district attorney decides what charges to be brought or not to be brought before the grand jury, which in the final analysis will determine the final outcome or decision of the grand jury. Thirdly, there is a big conflict of political interest between the local police departments and the local district prosecutors across United States. The local police departments across America work hand-in-hand with the local district prosecutors as law enforcement partners in the prosecution of all the local civil and criminal cases in their jurisdictions. The police provides the local prosecutors with those evidences that they need to successfully prosecute all the local cases in their jurisdictions. 
The office of the local district prosecutor is an elective position in many states across America. Most of the elections of these local district prosecutors in America are normally supported and sponsored by the local police unions and fraternities. Lastly, It is almost impossible for a local district prosecutor to bring up charges before a jury that will indict a police officer in his or her district. It is like a case of a house that is divided against itself. The only hope for true justice will be from an outside intervention like the United States Department of Justice that has no conflict of interest‪#‎NoJusticeNoPeace‬ 

Tuesday, November 25, 2014

"THE COMMONSENSE ECONOMIC POLICY THAT NIGERIA NEEDS TODAY"

I am not an economist by training, but a physicist. I know how to make the Nigerian economy stronger and her Naira powerful. I am ready to give the inept, visionless, mediocre and the corrupt Nigerian government this advice free of charge. Firstly, Nigerian government must fight the cancer of official corruption, state resource mismanagement, money laundering, tax evasion by corporations, over-invoicing of imports, smuggling of goods across our porous borders, oil theft via oil bunkering and the shady import duty waivers to their death.

Secondly, the size of the government and her expenses must be drastically reduced. The government must cut the huge salaries and allowances that are paid to the Nigerian state officials, including their foreign vacations and foreign health care expenses. Thirdly, the government must diversify the Nigerian economy from the present oil-dependent into the agricultural, manufacturing, solid mineral, international tourism, export-dependent economy and tax-based revenue generating economy.


This type of economy will feed the Nigerians without any need for food importation. This type of economy will create millions of good paying jobs for Nigerians that cannot be outsourced abroad. The type of economy will provide the needed raw materials for our local manufacturing sector. This type of economy that is tax based will generate more reliable revenue for the government than the oil-dependent economy that is always subjected to the global demand and supply for oil. Finally, the security of life and properties of all Nigerians will be needed to grow this type of economy that is not from the IMF, World Bank, London Club and Paris Club.‪#‎CommonSenseEconomicPolicy‬

Friday, November 21, 2014

"PRESIDENT BARACK OBAMA DESTABILIZED THE POLITICAL AGENDA OF GOP CONGRESS"

The decision of President Barack Obama to invoke his executive power that is granted to him in the American constitution to announce the several new measures that will address the immigration crisis in America has a lot of political implications and consequences from now till 2016.

How will the GOP controlled US Congress react to this huge political development? Will GOP enact its own immigration law to make the Obama's new immigration policy of no effect, null and void? Will GOP response with an impeachment move on this President? Will GOP go ahead to shut down the federal government again like the way they did in 2013 over Obamacare? Will GOP continue to be the obstructive party in the US Congress that will not pass any bill into law nor work on any compromise bill with this President? Will GOP continue with their political agendas, such as, the Keystone XL pipeline proposed project, privatization of social security, medicare and medicaid, defunding of Obamacare and providing tax reform for the big corporations and wealthy Americans and without touching the comprehensive immigration bill?

No matter what the new GOP controlled US Congress decides to do with their majority in the US Congress for the next two years will not prevent their party from paying the huge price for refusing to do nothing with the immigration reform bill at the polls in 2016 and for many years to come from the highly disappointed Hispanic-American voting bloc that is now the fastest growing voting population in America #ObamaIsAShrewdPolitician

Tuesday, November 18, 2014

HOW IN THE WORLD DID JONATHAN GOODLUCK BECOME THE PRESIDENT OF NIGERIA?

This man is totally helpless on how to truly lead this great nation as its leader. This man continues to make flimsy excuses for his own failures and his inability to solve our important national problems as a nation for the last four years in power. This man runs away from all his constitutional responsibilities as our President. This man lives in the direct fear of some of the Nigeria's most dubious businessmen, oil thieves and the corrupt politicians. This man does not deserve another term in the Aso Rock villa in 2015. This man is not the messiah that Nigeria needs. A vote to reelect this man is a vote to destroy Nigeria further. This man has no solutions at hand to address the menace of the Boko Haram terrorism, the massive official corruption in Nigeria under his watch, the mammoth state resource mismanagement, the massive illegal oil bunkering and the huge youth unemployment in Nigeria today.
Here are some of the responses of this President to a CNN interview in 2013:"Oil theft is not done by petty thieves but by big people and exporters, to end it, we need the assistance of our foreign country friends and refiners to stop accepting stolen crude. In addition, we have committees on the issue who meet regularly"
"People who talk about corruption in oil industry are mainly those who fail to get oil blocks, contracts and favours"
"Corruption is not our No 1 problem. Some people are taking stealing money as corruption, when you steal money you are a thief"
"Those who are calling for probe of Abuja massacre do not mean well for Nigeria"
"Minister of Defence is not important, it is the service chiefs who handle defence"
"People that say that (Nigeria is bankrupt) are playing politics with what they should not play politics with"
"You don't just wake up and say we are bankrupt as a senior citizen. You must say the parameters you used"
"I did not expect ASUU strike to last 3 months, I think politics is creeping into ASUU"
"Crisis in a developing country will continue. These are things you expect in developing countries"
"On the over all, before the PDP administration even directors had no mobile phones but with the PDP admin of Obj all have phones"
- Sunday Iwalaiye/CNN

Monday, November 17, 2014

"HISTORY MAY SOON REPEAT ITSELF IN NIGERIA IN 2015"

Jonathan Goodluck, the President of Nigeria is now playing a similar script to the one that Alhaji Shehu Shagari played as the President of Nigeria in the second republic. That democracy under the leadership of Alhaji Shehu Shagari was marred with huge official corruption, mammoth state resource mismanagement, unabated oil theft, smuggling, over-invoicing of imports, shady import duty waivers, money laundering, massive electoral fraud, rising national debt, collapsing state infrastructures, health care and social services, all forms of anti-democratic practices, lawlessness, rapid depletion of the Nigeria's foreign reserves, depreciation of the value of the Nigerian Naira, workers working unpaid for months, rising national poverty rate and unemployment rate, falling rate of the standard of living of Nigerians, unabated inflation rate on goods and services, waves of national insecurity to life and properties of Nigerians and a collapsing national economy with austerity measures firmly in place. I hope this government will not end up like the government of Alhaji Shehu Shagari. Time will surely tell. ‪#‎AMomentOfDeepReflectionOnTheFutureOfNigeria‬ 

"NIGERIA FACES BIG FINANCIAL CRISIS AS THE PRESIDENTIAL ELECTION OF 2015 DRAWS CLOSER"

The oil-dependent economy of Nigeria is now collapsing under the corrupt, spend-thrift, inept, insensitive and mediocre presidency of Jonathan Goodluck. The price of one barrel of oil in the international markets has now dropped from about $100 a barrel to below $80 a barrel because the global oil supply is now more than the global oil demand.
Nigeria's savings or her foreign reserves is rapidly declining side by side with the falling oil prices. The value of the Nigerian Naira is also depreciating against the major international currencies of the world. The Nigeria's foreign debt which is rated in American dollar is also rising. Borrowing of more money to run Nigeria by mortgaging the future of this nation to the international lenders is the only viable option on the desk of this visionless President of Nigeria
This President has mismanaged the Nigeria's economy in the last four years through the culture of official corruption, state resource mismanagement, oil theft, over-invoicing of imports, shady import-duty waivers, tax evasion by corporations and big businesses, money laundering through Nigeria's banks, Malibu oil scandal, the missing $20 billion oil money from the NNPC and the huge cost of governance (many foreign trips by this President and his officials, foreign health care expenditures of state officials and huge salaries and allowances that are paid to Nigerian public officials).
The tens of millions of ordinary Nigerians should get ready for those tough economic realities that await them as we approach the year 2015. Remember that Nigeria is not a manufacturing or an agricultural economy. Nigeria is 100% import-based economy and 100% consumer-based economy. Everything that Nigerians need and use on daily basis are all imported from toothpicks to petrol. The prices of goods and services will go up. Salaries of Nigerian workers will stay the same. The cost of living will rise and the standard of living for the tens of millions of Nigerians will drop. There will be social crisis in the families across this nation. The trade unions will go on strikes, law and order will collapse gradually with the rise in the state of insecurity as well as the menace of the Boko Haram
The ruling PDP and this President have both failed Nigerians. The best practical solution to these problems is for Nigerians to vote out Jonathan Goodluck in 2015 and vote for a responsible, honest, transparent, frugal, patriotic and accountable leader in the person of General Muhammadu Buhari ‪#‎AStitchOnTimeSavesNine‬