THE National leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu, on Wednesday, told President Muhammadu Buhari led Federal Government to urgently review the monetary policy that would reflect positively on the market and ordinary citizens.
He made this known in Abuja, while delivering the lecture at the National Defence College (NDC), Course 25 titled: “ Strategic Leadership: My Political Experiences”.
Tinubu who gave a donation of N10 miliion to the College, said the profound lesson he learnt in public life is the need to remain faithful to an achievable, well-articulated vision. Then develop practical strategies and tactics to progress toward that vision.
According to him, “the monetary policy must be consistent with the environmental need of our domestic requirements, you cannot hold on too much or too tight to a policy, let me give an example. What they call security reserve today in the bank at 27 percent, you have to be able to bring that one down, if the government have to be able to host its treasury bond at 18 percent upfront, effective rate of borrowing is at 23 percent.
“What am I doing if I have a billion, and you are ready to give me 180 million, that is 18 percent upfront, do I have to work or do anything again? So those are the factors that they have to look at quickly to ease the burden, you have to stimulate this economy, you have to spend yourself out of the recession and you cannot do that by consistently stifling the banks of the liquidity that is required, it’s their money, it’s a savers money”, he stated.
The APC chieftain said the leadership of the All Progressives Congress (APC) must be able to criticize certain policies of the government.
He drew inferences from his political journey and the strategic role of the military in peace keeping and building democracy.
“Government when the need arises. “We have to criticize ourselves when it is necessary, speak truth to the power, we are the power, we will talk the truth to ourselves.
“Where we see contradictions in the policy, we are going to talk about it, this is a democratic country and this is our government, we are not like the other party that will invent one lie to bury a lie and other mistakes, we tell you the truth, where we are weak, must identify it as Nigerians and tell the truth, they have a monetary policy team, they must look into it, we need a constant evaluation, how does it affect the market and ordinary people as well.
“If there is no liquidity in the economy, the banks will price out the ordinary man and when you look at inflation, growing at 18 percent, we are talking of recession, the danger is there that it might get to 20 something, if you are over squeezing or you are too tight”, he said.
Tinubu said Nigeria would benefit more if there is consistency in the policy, “ This is the bane of our political economy. We have so much talent in the nation but it has not been engaged and engineered to function in unison. Fiscal policy does not mesh with monetary policy. Trade policy undermined industrial policy, thus ease of doing business is inhibited. Overseas peacekeeping missions do not always harmonize with core foreign policy interests. A nation in progress seeks to minimize, not harvest additional contradictions, otherwise its leadership strategy is doomed to fail,” he said.
Tinubu said the decline of high oil prices threatens to be a long-term phenomenon adding that strategic objectives must be to re-engineer the economy from the bottom-up approach. “Strategic objectives during this period of economic uncertainty must be to re-engineer the economy bottom up, diversify the economic base, strengthen our industrial base, modernize infrastructure, enhance agriculture, and provide employment. And of course, ease of doing business.
“The lower oil prices also reduced hard currency earnings. This undermined the naira, causing a steep rise in the cost of imports. The higher prices have suppressed aggregate demand, causing a decline in business activity. The challenge before us is a difficult but not impossible one. If we stick to the progressive beliefs of the APC, we shall overcome these difficulties to place the economy on surer permanent footing,” he said.
The Commandant of the College, Rear Admiral Samuel Alade in his opening remarks described Tinubu as a national icon and astute administrator. He said the history of the return to democracy and the struggle to build a stable democratic governance cannot be complete without the courageous role played by Tinubu. “ That is why we have invited him to give a lecture on Strategic Leadership because every country requires a well-developed leadership and there is no time Nigeria needs this more than now,” Alade said.
In his lecture, Tinubu praised the NDC describing it as “special place where the best talent in the military may engage in fertile intellectual exchange with some of the brightest in our civilian institutions and from other nations.”
Tinubu said, “Some of the best minds in our nation are found in the military. No military can be successful over the long-term unless it has the intellectual agility to adopt its doctrines and practices to the challenges of a dynamic and chaotic world as we have today. Like any large organization, a military overly resistant to change will find itself on the wrong end of history. It will not answer the questions an incessantly changing environment places before it”.
He praised the military for winning the war against Boko Haram but cautioned against lowering the guards. “ I commend the Nigerian military for what it has achieved against Boko Haram. You have battled and bested this evil enterprise. You have done as well as a military can in putting down this amorphous danger. I must say here, however, that we cannot lower our guard.
“We have learned cardinal lessons from the Boko Haram crisis. First, we must govern justly and for the benefit of the people to prevent the recurrence of violent extremism in the future. Widespread poverty caused by an unjust allocation of income, wealth and resources provides fertile ground for extremist ideologies that run contrary to the inclusive democracy we seek to perfect” he said.
Speaking on electricity, he said nothing has been more germane to industrial growth in the last 1,000 years than constant supply of electricity, he said he believes in the capacity of the Minister for Power, Babatunde Fashola but there are complex issues that must be resolved.
“ We have enough gas to fire this country’s electricity but there are so many complex issues attached together that this government must remove, we must work harder, if the workload is too heavy, we must re-examine it, if the privatization is given to incapable hands we must revisit it, this cannot lock down our future,” he said.
End
THE National leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu, on Wednesday, told President Muhammadu Buhari led Federal Government to urgently review the monetary policy that would reflect positively on the market and ordinary citizens.
He made this known in Abuja, while delivering the lecture at the National Defence College (NDC), Course 25 titled: “ Strategic Leadership: My Political Experiences”.
Tinubu who gave a donation of N10 miliion to the College, said the profound lesson he learnt in public life is the need to remain faithful to an achievable, well-articulated vision. Then develop practical strategies and tactics to progress toward that vision.
According to him, “the monetary policy must be consistent with the environmental need of our domestic requirements, you cannot hold on too much or too tight to a policy, let me give an example. What they call security reserve today in the bank at 27 percent, you have to be able to bring that one down, if the government have to be able to host its treasury bond at 18 percent upfront, effective rate of borrowing is at 23 percent.
“What am I doing if I have a billion, and you are ready to give me 180 million, that is 18 percent upfront, do I have to work or do anything again? So those are the factors that they have to look at quickly to ease the burden, you have to stimulate this economy, you have to spend yourself out of the recession and you cannot do that by consistently stifling the banks of the liquidity that is required, it’s their money, it’s a savers money”, he stated.
The APC chieftain said the leadership of the All Progressives Congress (APC) must be able to criticize certain policies of the government.
He drew inferences from his political journey and the strategic role of the military in peace keeping and building democracy.
“Government when the need arises. “We have to criticize ourselves when it is necessary, speak truth to the power, we are the power, we will talk the truth to ourselves.
“Where we see contradictions in the policy, we are going to talk about it, this is a democratic country and this is our government, we are not like the other party that will invent one lie to bury a lie and other mistakes, we tell you the truth, where we are weak, must identify it as Nigerians and tell the truth, they have a monetary policy team, they must look into it, we need a constant evaluation, how does it affect the market and ordinary people as well.
“If there is no liquidity in the economy, the banks will price out the ordinary man and when you look at inflation, growing at 18 percent, we are talking of recession, the danger is there that it might get to 20 something, if you are over squeezing or you are too tight”, he said.
Tinubu said Nigeria would benefit more if there is consistency in the policy, “ This is the bane of our political economy. We have so much talent in the nation but it has not been engaged and engineered to function in unison. Fiscal policy does not mesh with monetary policy. Trade policy undermined industrial policy, thus ease of doing business is inhibited. Overseas peacekeeping missions do not always harmonize with core foreign policy interests. A nation in progress seeks to minimize, not harvest additional contradictions, otherwise its leadership strategy is doomed to fail,” he said.
Tinubu said the decline of high oil prices threatens to be a long-term phenomenon adding that strategic objectives must be to re-engineer the economy from the bottom-up approach. “Strategic objectives during this period of economic uncertainty must be to re-engineer the economy bottom up, diversify the economic base, strengthen our industrial base, modernize infrastructure, enhance agriculture, and provide employment. And of course, ease of doing business.
“The lower oil prices also reduced hard currency earnings. This undermined the naira, causing a steep rise in the cost of imports. The higher prices have suppressed aggregate demand, causing a decline in business activity. The challenge before us is a difficult but not impossible one. If we stick to the progressive beliefs of the APC, we shall overcome these difficulties to place the economy on surer permanent footing,” he said.
The Commandant of the College, Rear Admiral Samuel Alade in his opening remarks described Tinubu as a national icon and astute administrator. He said the history of the return to democracy and the struggle to build a stable democratic governance cannot be complete without the courageous role played by Tinubu. “ That is why we have invited him to give a lecture on Strategic Leadership because every country requires a well-developed leadership and there is no time Nigeria needs this more than now,” Alade said.
In his lecture, Tinubu praised the NDC describing it as “special place where the best talent in the military may engage in fertile intellectual exchange with some of the brightest in our civilian institutions and from other nations.”
Tinubu said, “Some of the best minds in our nation are found in the military. No military can be successful over the long-term unless it has the intellectual agility to adopt its doctrines and practices to the challenges of a dynamic and chaotic world as we have today. Like any large organization, a military overly resistant to change will find itself on the wrong end of history. It will not answer the questions an incessantly changing environment places before it”.
He praised the military for winning the war against Boko Haram but cautioned against lowering the guards. “ I commend the Nigerian military for what it has achieved against Boko Haram. You have battled and bested this evil enterprise. You have done as well as a military can in putting down this amorphous danger. I must say here, however, that we cannot lower our guard.
“We have learned cardinal lessons from the Boko Haram crisis. First, we must govern justly and for the benefit of the people to prevent the recurrence of violent extremism in the future. Widespread poverty caused by an unjust allocation of income, wealth and resources provides fertile ground for extremist ideologies that run contrary to the inclusive democracy we seek to perfect” he said.
Speaking on electricity, he said nothing has been more germane to industrial growth in the last 1,000 years than constant supply of electricity, he said he believes in the capacity of the Minister for Power, Babatunde Fashola but there are complex issues that must be resolved.
“ We have enough gas to fire this country’s electricity but there are so many complex issues attached together that this government must remove, we must work harder, if the workload is too heavy, we must re-examine it, if the privatization is given to incapable hands we must revisit it, this cannot lock down our future,” he said.
End
THE National leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu, on Wednesday, told President Muhammadu Buhari led Federal Government to urgently review the monetary policy that would reflect positively on the market and ordinary citizens.
He made this known in Abuja, while delivering the lecture at the National Defence College (NDC), Course 25 titled: “ Strategic Leadership: My Political Experiences”.
Tinubu who gave a donation of N10 miliion to the College, said the profound lesson he learnt in public life is the need to remain faithful to an achievable, well-articulated vision. Then develop practical strategies and tactics to progress toward that vision.
According to him, “the monetary policy must be consistent with the environmental need of our domestic requirements, you cannot hold on too much or too tight to a policy, let me give an example. What they call security reserve today in the bank at 27 percent, you have to be able to bring that one down, if the government have to be able to host its treasury bond at 18 percent upfront, effective rate of borrowing is at 23 percent.
“What am I doing if I have a billion, and you are ready to give me 180 million, that is 18 percent upfront, do I have to work or do anything again? So those are the factors that they have to look at quickly to ease the burden, you have to stimulate this economy, you have to spend yourself out of the recession and you cannot do that by consistently stifling the banks of the liquidity that is required, it’s their money, it’s a savers money”, he stated.
The APC chieftain said the leadership of the All Progressives Congress (APC) must be able to criticize certain policies of the government.
He drew inferences from his political journey and the strategic role of the military in peace keeping and building democracy.
“Government when the need arises. “We have to criticize ourselves when it is necessary, speak truth to the power, we are the power, we will talk the truth to ourselves.
“Where we see contradictions in the policy, we are going to talk about it, this is a democratic country and this is our government, we are not like the other party that will invent one lie to bury a lie and other mistakes, we tell you the truth, where we are weak, must identify it as Nigerians and tell the truth, they have a monetary policy team, they must look into it, we need a constant evaluation, how does it affect the market and ordinary people as well.
“If there is no liquidity in the economy, the banks will price out the ordinary man and when you look at inflation, growing at 18 percent, we are talking of recession, the danger is there that it might get to 20 something, if you are over squeezing or you are too tight”, he said.
Tinubu said Nigeria would benefit more if there is consistency in the policy, “ This is the bane of our political economy. We have so much talent in the nation but it has not been engaged and engineered to function in unison. Fiscal policy does not mesh with monetary policy. Trade policy undermined industrial policy, thus ease of doing business is inhibited. Overseas peacekeeping missions do not always harmonize with core foreign policy interests. A nation in progress seeks to minimize, not harvest additional contradictions, otherwise its leadership strategy is doomed to fail,” he said.
Tinubu said the decline of high oil prices threatens to be a long-term phenomenon adding that strategic objectives must be to re-engineer the economy from the bottom-up approach. “Strategic objectives during this period of economic uncertainty must be to re-engineer the economy bottom up, diversify the economic base, strengthen our industrial base, modernize infrastructure, enhance agriculture, and provide employment. And of course, ease of doing business.
“The lower oil prices also reduced hard currency earnings. This undermined the naira, causing a steep rise in the cost of imports. The higher prices have suppressed aggregate demand, causing a decline in business activity. The challenge before us is a difficult but not impossible one. If we stick to the progressive beliefs of the APC, we shall overcome these difficulties to place the economy on surer permanent footing,” he said.
The Commandant of the College, Rear Admiral Samuel Alade in his opening remarks described Tinubu as a national icon and astute administrator. He said the history of the return to democracy and the struggle to build a stable democratic governance cannot be complete without the courageous role played by Tinubu. “ That is why we have invited him to give a lecture on Strategic Leadership because every country requires a well-developed leadership and there is no time Nigeria needs this more than now,” Alade said.
In his lecture, Tinubu praised the NDC describing it as “special place where the best talent in the military may engage in fertile intellectual exchange with some of the brightest in our civilian institutions and from other nations.”
Tinubu said, “Some of the best minds in our nation are found in the military. No military can be successful over the long-term unless it has the intellectual agility to adopt its doctrines and practices to the challenges of a dynamic and chaotic world as we have today. Like any large organization, a military overly resistant to change will find itself on the wrong end of history. It will not answer the questions an incessantly changing environment places before it”.
He praised the military for winning the war against Boko Haram but cautioned against lowering the guards. “ I commend the Nigerian military for what it has achieved against Boko Haram. You have battled and bested this evil enterprise. You have done as well as a military can in putting down this amorphous danger. I must say here, however, that we cannot lower our guard.
“We have learned cardinal lessons from the Boko Haram crisis. First, we must govern justly and for the benefit of the people to prevent the recurrence of violent extremism in the future. Widespread poverty caused by an unjust allocation of income, wealth and resources provides fertile ground for extremist ideologies that run contrary to the inclusive democracy we seek to perfect” he said.
Speaking on electricity, he said nothing has been more germane to industrial growth in the last 1,000 years than constant supply of electricity, he said he believes in the capacity of the Minister for Power, Babatunde Fashola but there are complex issues that must be resolved.
“ We have enough gas to fire this country’s electricity but there are so many complex issues attached together that this government must remove, we must work harder, if the workload is too heavy, we must re-examine it, if the privatization is given to incapable hands we must revisit it, this cannot lock down our future,” he said.
End
THE National leader of the All Progressives Congress (APC), Senator Bola Ahmed Tinubu, on Wednesday, told President Muhammadu Buhari led Federal Government to urgently review the monetary policy that would reflect positively on the market and ordinary citizens.
He made this known in Abuja, while delivering the lecture at the National Defence College (NDC), Course 25 titled: “ Strategic Leadership: My Political Experiences”.
Tinubu who gave a donation of N10 miliion to the College, said the profound lesson he learnt in public life is the need to remain faithful to an achievable, well-articulated vision. Then develop practical strategies and tactics to progress toward that vision.
According to him, “the monetary policy must be consistent with the environmental need of our domestic requirements, you cannot hold on too much or too tight to a policy, let me give an example. What they call security reserve today in the bank at 27 percent, you have to be able to bring that one down, if the government have to be able to host its treasury bond at 18 percent upfront, effective rate of borrowing is at 23 percent.
“What am I doing if I have a billion, and you are ready to give me 180 million, that is 18 percent upfront, do I have to work or do anything again? So those are the factors that they have to look at quickly to ease the burden, you have to stimulate this economy, you have to spend yourself out of the recession and you cannot do that by consistently stifling the banks of the liquidity that is required, it’s their money, it’s a savers money”, he stated.
The APC chieftain said the leadership of the All Progressives Congress (APC) must be able to criticize certain policies of the government.
He drew inferences from his political journey and the strategic role of the military in peace keeping and building democracy.
“Government when the need arises. “We have to criticize ourselves when it is necessary, speak truth to the power, we are the power, we will talk the truth to ourselves.
“Where we see contradictions in the policy, we are going to talk about it, this is a democratic country and this is our government, we are not like the other party that will invent one lie to bury a lie and other mistakes, we tell you the truth, where we are weak, must identify it as Nigerians and tell the truth, they have a monetary policy team, they must look into it, we need a constant evaluation, how does it affect the market and ordinary people as well.
“If there is no liquidity in the economy, the banks will price out the ordinary man and when you look at inflation, growing at 18 percent, we are talking of recession, the danger is there that it might get to 20 something, if you are over squeezing or you are too tight”, he said.
Tinubu said Nigeria would benefit more if there is consistency in the policy, “ This is the bane of our political economy. We have so much talent in the nation but it has not been engaged and engineered to function in unison. Fiscal policy does not mesh with monetary policy. Trade policy undermined industrial policy, thus ease of doing business is inhibited. Overseas peacekeeping missions do not always harmonize with core foreign policy interests. A nation in progress seeks to minimize, not harvest additional contradictions, otherwise its leadership strategy is doomed to fail,” he said.
Tinubu said the decline of high oil prices threatens to be a long-term phenomenon adding that strategic objectives must be to re-engineer the economy from the bottom-up approach. “Strategic objectives during this period of economic uncertainty must be to re-engineer the economy bottom up, diversify the economic base, strengthen our industrial base, modernize infrastructure, enhance agriculture, and provide employment. And of course, ease of doing business.
“The lower oil prices also reduced hard currency earnings. This undermined the naira, causing a steep rise in the cost of imports. The higher prices have suppressed aggregate demand, causing a decline in business activity. The challenge before us is a difficult but not impossible one. If we stick to the progressive beliefs of the APC, we shall overcome these difficulties to place the economy on surer permanent footing,” he said.
The Commandant of the College, Rear Admiral Samuel Alade in his opening remarks described Tinubu as a national icon and astute administrator. He said the history of the return to democracy and the struggle to build a stable democratic governance cannot be complete without the courageous role played by Tinubu. “ That is why we have invited him to give a lecture on Strategic Leadership because every country requires a well-developed leadership and there is no time Nigeria needs this more than now,” Alade said.
In his lecture, Tinubu praised the NDC describing it as “special place where the best talent in the military may engage in fertile intellectual exchange with some of the brightest in our civilian institutions and from other nations.”
Tinubu said, “Some of the best minds in our nation are found in the military. No military can be successful over the long-term unless it has the intellectual agility to adopt its doctrines and practices to the challenges of a dynamic and chaotic world as we have today. Like any large organization, a military overly resistant to change will find itself on the wrong end of history. It will not answer the questions an incessantly changing environment places before it”.
He praised the military for winning the war against Boko Haram but cautioned against lowering the guards. “ I commend the Nigerian military for what it has achieved against Boko Haram. You have battled and bested this evil enterprise. You have done as well as a military can in putting down this amorphous danger. I must say here, however, that we cannot lower our guard.
“We have learned cardinal lessons from the Boko Haram crisis. First, we must govern justly and for the benefit of the people to prevent the recurrence of violent extremism in the future. Widespread poverty caused by an unjust allocation of income, wealth and resources provides fertile ground for extremist ideologies that run contrary to the inclusive democracy we seek to perfect” he said.
Speaking on electricity, he said nothing has been more germane to industrial growth in the last 1,000 years than constant supply of electricity, he said he believes in the capacity of the Minister for Power, Babatunde Fashola but there are complex issues that must be resolved.
“ We have enough gas to fire this country’s electricity but there are so many complex issues attached together that this government must remove, we must work harder, if the workload is too heavy, we must re-examine it, if the privatization is given to incapable hands we must revisit it, this cannot lock down our future,” he said.
and then