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Nigerians: Time now to decide what not to import

The Central Bank of Nigeria (CBN) recently excluded some goods being imported into the country from the list of items valid for foreign exchange in the Nigerian foreign exchange markets. The implication of this is that those who import these items can no longer buy foreign currency from banks, bureaux de change or any other official source to pay overseas suppliers of such goods. Instead, they have to source their foreign exchange from outside the banks and bureaux de change. These items are not banned but importers cannot access foreign exchange from Nigerian banks.

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Nigeria, time to try new ideas

Nigerians’ expectation from the new government at all levels is that the idea of sharing will be shelved and a new thinking of baking a larger cake for the nation will emerge. But Governors are already at it, talking of excess crude account that is to be shared. They have dragged as usual the yet-to- settle down president into setting up a committee to look into what the governors know too well has been shared. If this government were ready to replace old ways of thinking with the new, the Federal Government would have ignored these jobless governors.

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Re-Governors: No bailout coming from anywhere

This is a shame if the federal, states and local governments cannot be trusted with public funds. No wonder those who aspire to hold public offices always make it a do or die affair. How can they be stealing our monies and show off as if they are gods? All I am waiting to see is the so-called change that APC government intends to bring but if not, it will then be a moral burden on them as so many APC members and those decamping from PDP and other parties to APC in order to protect their ill gotten wealth.

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Buhari, watch out for the cabal

When in 1999 President Olusegun Obasanjo assumed office as President of Nigeria, one of his intentions was to create a state-backed Nigeria enterprise that could compete with multinationals anywhere in the globe. So, Mr Obasanjo encouraged what came to be known as Corporate Nigeria. Many enterprising Nigerian businessmen were brought close to the seat of government. Many used the opportunity to carve for themselves business empires.

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Review operating policies on tanks farms, petroleum distribution

Apapa traffic gridlock is a symptom of much deeper shortcomings in the management of government business. The Federal Government has for long sold the downstream of the oil sector to a cabal who has ensured that the nation’s refineries would never work. This is to give them the lee way to continue to import refined products and line their pockets with ill-gotten wealth. It is to enable the few that have access to government apparatus to import products and claim subsidy.

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APC and Buhari, no excuse for failure, change must be change

Last week, President-elect, Major-General Muhammadu Buhari (retd) surprised Nigerians when he said that he is currently at a loss on how best to tell Nigerians that his promise of turning the economy around quickly upon assumption of office on May 29 may not be feasible. One would have expected the renowned general to know better. He was swept into office by the propaganda of change. Nigerians bought the slogan line, hook and sinker and voted him to power.

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Institute open judicial probe into NNPC

The forensic audit conducted by PWC on NNPC to ascertain the veracity of the alleged missing $20 billion from the Federation account is to say the least, very damaging to the already poor image of the officials of the out-going PDP-led Federal Government. The report was supposedly a fact-finding one but what came out was a smokescreen the government wanted to use to whitewash a very filthy cup for Nigerians to drink with. PWC had qualified the audit saying it did not obtain needed information from NPDC, a subsidiary of NNPC. The qualification of the audit report has cast doubt on the reliability of the report.

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What Buhari must do to move economy forward (2)

To ensure that Nigeria’s growth can be wide, inclusive and sustained, the incoming Muhammadu Buhari administration must focus on building infrastructure, institutions and people. Nigeria has big infrastructure gaps, which represented huge costs to businesses and to people. Over the past three decades, per capita output of electricity in Nigeria remained virtually flat. Only 16 per cent of all roads are paved, compared with 58 per cent in South Asia. The investment needs to address this is in the region of billions of dollars.

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What Buhari must do to move Nigerian economy forward

Nigeria’s economic potential is well known. The country’s considerable resource endowment and coastal location ordinarily should allow the emergence of a strong growth pole for Sub-Saharan Africa. Over the years, Nigeria has realised very little of this potential. Instead, its history has been marked by economic stagnation and associated with declining welfare and social instability.

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