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My problem with @OfficialPDPNig is, it applies propaganda when intellect is needed and strategy where propaganda is needed. The last #VPDebate2018 affords intellectuals in PDP to prove their worth but instead they allow @APCNigeria pseudo intellectuals fact-check
My problem with @OfficialPDPNig is, it applies propaganda when intellect is needed and strategy where propaganda is needed. The last #VPDebate2018 affords intellectuals in PDP to prove their worth but instead they allow @APCNigeria pseudo intellectuals fact-check
The #VPDebate2018 was and is an opportunity to tear into the policies of @MBuhari administration and show the world how and why those economic policies have failed. I tweeted about these policies in the past and made their job very easy.
I stated in the past in a discourse with @DemolaRewaju how @MBuhari killed the oil and gas industry. The oil and gas industry which deals with importation of PMS was the only industry with high economic profit but @MBuhari and @ProfOsinbajo in their wisdom decided to kill it
The oil and gas industry was a major employer of labour- @MBuhari and @ProfOsinbajo decided to kill it by ensuring that NNPC became the sole imported of PMS- a role which the NNPC has no advantage as regards core competence. This ensures that we buy fuel times 2 the price....
....This ensures that we buy fuel times 2 the price & still pay more subsidy than was paid in the past. Now an industry with high economic profit is dead and still the comparative advantage of NNPC importing as against oil marketers is so low and negative, all thanks to @MBuhari
The other aspect is that of high CAPEX in Buhari’s budgets. As at a time we had low revenue due to low prices of crude oil @MBuhari and @ProfOsinbajo decided that the best economic policy was for us to have high CAPEX (capital expenditure) when we clearly did not have advantage
An high CAPEX at a period of low revenue, simply means we will be spending more of our money outside of the Nigerian economy than inside because we do not have the technology nor technological know how- but @MBuhari and @ProfOsinbajo in their wisdom thought is wise to do this.
Go and find out, for every capital projects in Nigeria, heavy duty machineries are imported into the country &we bring in expatriates- what does this mean? Isn’t it that money is leaving our economy to another? That is what CAPEX is doing to us thanks to @MBuhari & @ProfOsinbajo
Economics is all about flows and income and if we are spending more outside of our economy because of capital expenditure when our revenues are low wouldn’t we be recording deficits? Yet @MBuhari & @ProfOsinbajo haven’t thought this through. Isn’t it better we invest HCD?
By HCD, I mean human capital development, isn’t it better we develop our people’s potentials in STEM to enable us invest in the technology needed to bring about heavy machines needed for CAPEX and reduce our import of expatriates? So how is this @MBuhari policy not wrong?
There are many aspects of how @MBuhari and @ProfOsinbajo policies are killing our economy and I will still point it out in different threads but we have to allow others donthe right thing. The next thread will be on other aspects. Drops mic and bounces out!
