Take a look at this chart very well and please try to understand what Meffy is doing.
In 2019, the $14bn he sold to BDCs was MORE (bold, underscore, uppercase, red font) than he sold to actual companies and importers via official interventions.
I don’t like to talk about Meffy again because I’ve genuinely run out of words and ways to describe what that guy is doing at the CBN. It is criminal. 🤷🏽♂️
I know some of you are pretending not to hear me so let me say it again.
Meffy has commandeered all the dollars entering the Nigerian economy. He has the power to decide who gets $$$s and who doesn’t.
He sells more $$$s to BDCs than to people who want to import machines etc
I wrote this more than 4 years ago. Don’t laugh- but do you know what the ultimate banter will be? Buhari going to prison a second time. It sounds crazy but finkabourrit link.medium.com/rCh4w32YF9
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Really promised myself never to comment on him or his stupid business anymore to avoid brain damage to myself. But his stupidity is just everywhere and hard to avoid
I always say - Nigeria’s demographics are an important consideration. Since the country is so young, you can safely guess that a majority of the current population were born since the return of democracy in ‘99. This guy has been the richest Nigerian in that time
Yesterday the Adamawa governor, completely unprovoked, posted a video of him enjoying his holiday abroad (now deleted). I will say Nigeria is probably going through one of its toughest economic crises since the 90s right now
I won’t say I’m an expert on Asian economic development, but increasingly, the thing that stands out to me as a *stark difference* between Asian and African leaders is the amount of pressure leaders are under to deliver. It is, to put it mildly, disturbing
Buhari was a useless president, that is not in doubt. But as someone who lives outside Nigeria, one of the worst things about his presidency has how he made Nigeria completely irrelevant outside of Nigeria. A big country no one cares about
This last election really brought it home to me. Barely any coverage, no one cared at all. Had it not been for Obi who added a dimension of interest, I shudder to think how much worse it would have been.
Consensus was something like - you guys just do your elections, as long as you don’t start fighting and create a refugee crisis, you can do whatever you like. See you again in 4 years.
1. He is not Buhari - Simplistic as this sounds, there is at least 1% economic growth available just because the person in Aso Rock is not Buhari - a congenitally mentally lazy fellow who put in at most 1.5yrs of actual work in his 8yrs in office
With some initial buzz here and there, he can make one or two useful things happen. Subsidy removal is the big and obvious one - painful but should give the govt some breathing room for about 5 mins. He may waste it, of course, but the opportunity will be there
1. Obviously his age and health. He is in reality around 80 and visibly mentally diminished. This body, ravaged by time and self inflicted wounds, is now about to collide with the pressures of the Nigerian presidency. His body will not win.
I expect him to land in hospital for an extended period within 6 - 12 months. This is not wishing him ill. He has essentially been in retirement for 15 years. Now he gets a full time job. We can use travelling as a practical example
Throwback to this goodie from 4 years ago - Tinubu accurately predicting the 2023 presidential election results (1/2)
2/2
As I’m sure you know, my summary of Tinubu in terms of governance is a simple one - he’s just a thief. But I will concede one thing - he’s the most gifted (gifted as it’s not something you can learn) politician of his generation. That is in terms of raw retail politics