Hey, guys, are welcome and good even name to another space with me.
My name is carlu Aja. I'm gonna be your host for the next
three hours maximum. Of course, in this space we're talking to economy,
personal finance, and money. Anything that talks about money you get here.
Every week we make it personal to you. We take the big topics to
make it relevant to your bald That's our goal here. This week we have
a very very geeky subject so that we talk about all the time, but
perhaps don't have a real understanding of the subject. We want to tackle this
this week. It's about the I m F. I might say that I
am the gold band and what's going on in everyone? Since I've grown up,
I hear what what was happening right? I was here, I m
F, I am floor. I was here this SAP and I was just
wonder what the IMF force? What did he do? Why was it so
d africano? Why is it so powerful? Why are all the problems in
our paper all to do with it? IMF? So I didn't mind reselved
a long long time ago, but the Kenyan situation bousing back to the forefroms
of what we're talking about if what's happening in Kenya. Following essentially KAS passed
a budget with what they call the twenty twenty four Finance Bill. Now that's
fine as a finance actors included a lot of provisions that have to increase revenue
between take taxes off and don't want to reform people how the power supplifle pricing
care. That's the summer Finance bill go off? Why is Kenya because in
taxes? But because k has no from the IMF And of course you saw
issues use to protest the killing sactly and it does draws back to this.
You showed the IMF once bor again very huge rios over over SAP, the
Structural Adjustment Program. But then I did understand what it was all about.
What had a huge vile set out when the capital was moved to our Bunja
really at that time because it was that encompassive with the SACK. So let's
just talk. You speak about I am sad and see really I am myth
it's getting a badge back or really I am if it's a problem. That's
what I'm talking about is say allow me, let me say about five ten
minutes lay out the framework of what I am f I'm well. In nineteen
forty four, rights, just as the Second World War was wrapping off,
really in the business contusion, the world met in New Hampshire in America and
this sort of tried to find out what had cost the war, you know,
what cost the war in the world. And what they did find out
was that Germany, after the First World War economy had crash, German economy
crash, and then even that Germany, German economy to a German gather them
simply printed a lot of money. They printed trillions and trillions of dotschemat if
you look at those pures of inflation, mega inflation. He's from generalis the
German taking battles of deutschmern to buy from Prayer. It came from there.
It was that printing, that hype by inflation, that colt of the economy
that led ultimately to it back called Hitler saying that he solved the problem and
getting elected. So you can you can see why the monetary policy now became
a national consecuted issue. But one of the economy fails. You didn't allow,
should we say, populists to come to power, who can then start
to prove what happened in Jermany. So based on this listen, listen word
of framework, what have a frame going on going forward in Africa? That
would essentially say that we are going to control how we're going to be created.
We're going to control maybe we're called exchange it and would go to should
have one country does not become so economically should we say in chaos like the
least education another go to mad Man? Right, That's what they did.
So the IMF and the world background created what we called the Breton Woods.
That's them of the place, right, so we called the Britain was position.
The IMF itself is put like a finance company. Like the finance company.
So if you look at your country like like a company. If your
company, yes, revenues extend, your company has no let's say it's expecting
cash from it's it's consumer and the type of pay want to room and I
say, hey, you're gonna work out to my Crossum must say that's fine.
But what if your company can't get any loom from any bank, So
your company can't get a loan money bank, no body to your company?
What will happened? What do your stuff being angry? They might brand.
The company might get angry, beat your cross public nuisance you know. Oh
the Iron is like that, and lens going to your company because your company
has no money. You never no bank will lend your money, so that
I end up coming lending the country, let the company the count. Now
I have to stop that, so the contract, reorganize itself and then move
forward. The World Bank is more or less like what rules building school,
giving you a longer term rules for those. That's what the World Bank does.
What the Iron is the answer what they did when I was formed just
let fifteen members. Their focus was on exchange it so it said the who
how to the link? Whenever you men? It was of course how to
link occurrences to the US. The US dollar was then links to gold,
so I said, you could have a high point in the ship here jermy
or because the Germans and the Italians the currency the bar link to go so
they don't print any leader. You couldn't print any marks anymore because you don't
how to export printing Deutsche marks or liras or whatever it was. That's the
structure of the world had from forty five. All good about the seventies.
You always close that you don't understand, you must not has a huge advantage
because the US is the one getting a printing dollars and the best thinking that
pret the dollar. But who dollar is building to go? There's not enough
Google to link to dollar. So essentially the US can print what you want
if you wants to finance the steps by simply the coupling the dollar, which
is what next thing did. So the next thing took the goal from the
dollar coupled. So now the US dollar a dollar and like this this look
at it. You'll tell you take this dollar to the and that's cool,
it's right there. But you move what is not. It's called the fate,
the full faith of the U S governments. When you hold the dollar,
you're holding a piece of paper. It's a promise and an IPO.
You It's that cool, doesn't I? So let's move for to what that
means? To go down now the world it's more waring to go. We
means the I American broger has a rule, right, So what did they
do? The first The boss said, if you're in African country, commutes
to get the long tend development loan from the war to be a member of
them, so to get a loan to be schools in Abia, and I
just don't in the loon. We still have to drink the IMF to get
that. Look from the renumber two, I am transitted away from your exchanging
vol we call surveillance and giving loans. So the IMPS to the world and
Stisen, We're going to start to solvelle and record your economies every year every
quarter. So I'm like a credit people. They would come to your conscience,
hear, how are your experts, are your imports or are you spending?
What's your inflation? They can't cut it everything and then they put out
the reports out there every year. They do it. So even if you
don't know the Miami flaw, you want to ensure that the report that IMP
has produce forul you is good because it's based on that I AM report that
to vent your money. That's the whole idea. So even if you don't
ones and I AM flan, you have to have anything, you will still
dissor veil. So you want to make sure that your economy is good.
Is good? Why do you want to measure economy going? Because you still
have to borrow. That's why I AM. If you go to Chase Man
having to borrow money, would look at your iron met report and see how
good is this country? And of course the concast has a bad report,
they increase interest rates for good report, and so interested. That's the general
framework of how the IMF, the World Bank and the banks are now hiring
into this borrowing, which means in Urkenia and who wants to borrow and you
have already borrowed from the eurobonds, you've already broken eurobonds, which means you're
like that company that no longer gets loans from the commercial markets. Okay,
and no do that what was going to be a year going now could no
longer get olds because it really borrowed from the neuroborwth market, just like my
Juia who really borrowed with Maximize and the experts and is from Kenya. I'm
authorizing. But the costs in Cana, the cost of salary, the costal
or the governments arising, no more will lend you money without IMF sitting.
So what does IMF say, Well, the process supports on you and we
will give you an IMF loan. This is where it gets interesting, guys,
when I follow closely whether im gives you a loan they keep you called
the conditionality collection. That means that you will take that loan days on conditions
that you must then implement your look at the company. Those conditions are the
same as you guys would know it would be in every new subsidies. It
is will be set of government focused on their exports. If he notices those
constraints that designed to create revenues revenues in the economy to repay the IMF.
So but why it's Nigeria, but it's thailandized Kenya. All the constances have
wanting go create revenues for the revenues by making the economy efficient. Guys,
you are in trouble, then you go to the IMF. It's not that
puts you in trouble. Kenya was in trouble. That's why I went to
the im It's not all the way around. Because no bank will lend you
money in dollars on till the CI reports. You have to go to the
im for that short term loom, get the conditionalities and implement them. When
the whin I see you implementing the g is exactly what happened in Kenya about
supertone from the IMF right and Washington, and he has that he was going
to or signals grow to implement this new finance. At what happened. They
released him, So the up front they have to then go back and past
this conditioner. That's the funny thing. Why was campaigning im going on?
And they knew that they were saying doing their campaigns would not work because they
are signing an IMF loan that says you are going to increase taxes. But
they signed knowing that down the line they have to increase taxes. And they
tried to increase taxes and pushed back on them. That's why they're so insistent,
because they don't get this I AM financing. They can't go anywhere else.
Literally, the europe bond that KNA issued, they issued a new eurobond.
They used the new eurobondes issue to pay off the mature europones issue in
June, so not that they have to borrowed. We're taking the money in
a advance. I'm paid of the existing room the new issue, you know
issues. It's a signal because i m F has said being a little plastic
conditionality which are in that finance. Connected scientist finance at you get trouble.
That's the connection and that's why you don't see people right now limited I ms
I didn't think. So you are in trouble, then you go to the
I meant did not cause Kia's politicians to pay themselves. Have become the highest
paid politicians on planet pap capital kings are the highest thing. They beat my
injurior to that record. So that's the framework. Samely with Mygeria. Probably
the exact same thing doesn't have an imposic. But I am a person to
call a pol support instruments p SCI. What a perscie is is you can
say I don't from them, but I want to upreate my economy. Onder
the guide bout what kind of considers good. So if you do it p
s I, you pretend as you want to bow and they know your economy
as if you are that efficient. Put this week that from the back.
The bank will tell the stop. You must form you cash, you must
measure you all the technique a bit quarters must high accountants. Now the company
can say I'm not going to money all the band to our impediment because they
are so they just say we're going to the news of this, Why so
there's more to pay pay back? Im My Jersey, we're going to increase
tax, why so there's no more money to take back? Those allies are
designed by the IMF to extract the revenues from the local economy so that when
you pay after im if you see now that you can't give back international models,
that's the whole idea. That's why I see there's no iron. If
you would come the psy we're increasty, were moving some today on fuel Mara.
All these things are all quote unquote I am construti. We don't have
to borrow, but you have to create that powered in such a way then
get those ratings from Moodies, from S and P. So the questionally was
onto this it's after giving the IMF bad round africass getting too trouble, then
they have to go to the IMF. It's not all the way around.
So cal ask question has the end of parting success stories? Well, because
you're saying this, but I'm faults. Is Africa's fault? Yes? Look
at Asia, Look at Thailand militia, like I suppose the currency extenriting institution.
Look at what they in the contre Thailand Shia. When have the Asian
crisis usimbcause being I also came in unstabilized and they moved on. Right,
those courses are doing better now because the economy is the structure that of those
countries I did it ACS with. The infrastructure is already set, so I
rest to repent to what they were really not to do with the exchanguries.
If you come to the country like Evangeria and you don't do what iron policy
to increase your Saturdays, sabtidays, increasing unity the pastor that is very very
easy because just outside legos they are the roads. So you said, removed
the subt today on the PEMIS. The PMS subject moval is supposed to generate
more revenues to the government to the but once the government gets regones has to
go immediately and pay to the five thousand two poor people because the economy is
to ancient to inefficients to understoo first to what economies. That's what's going on.
The guys that wrote the Economy sect we did not believe in the country
that exports crew oil will not have pass life. So when the rite of
theories, they don't think about that a country like that is the lanes was
content in Africa, which is the last year likes to common Africa were off
an economy without real lines. There are no real lines when measure is worth
all the government of sound are all the ruggage only agalty. But on the
standard page there is a country that's the largest exporter of crudel from nineteen seventy
to date. Has no real lingual Baities has no standard really language, no
sound, has no parts of life into four seven. No one writing economies
tells in nineteen forty seven as d this was possible the immediately a genuine were
bomb after the Circondportan war. But now even that you have power supply.
But they did not believe that they can't you so far for thirty years with
no parsipply let back noon for the civil war. They have power supply.
So this will be a guy. So let me stop talking. Guys want
to speak. Kind of lots of games are hearing, So let me get
dollar dollar How you doing Fastia to go go go for it? What's the
thing I'm not already have Tom of dal Brady kind of just to be clear,
to be does Nigeria have an I am a flow or not. That's
a good, good question. I know from the records I'm seeing Nigeria has
no existing I am a floor per se. What IMF did was that when
we had the COVID crisis, I am to give a support literally all opposed
the difficult countries across. It's not a normal I hadnfluent per se. It
was his cool is support that hecame and of course a major for a part
of it. And in the last before I saw from the death win the
office measures that presses about that. He took from that love from the aromals.
So we don't have the rule that say what it's just as fastility.
The last bow we had I believe was two to and the year two thousand
thousand last low the Nigeria got from the IMA. We did the SAP with
his SAP, which is structure program, but we did take the iron fluce
work. Why did the work but I did? Was his rand the economy.
He really not to posterity. He did what I met with that acting
to do without. I am fluent per se. App a what you do
I can't take. So was the gool friend. So I was really going
to bring on maybe started answering the question, I think that it doesn't really
hurts Africa. Africa when when you when you have troubles asked when you goes
I have are you ready to look too far? The largest Siberians flaws Indian
at the moment and the standing loans have been training down for India last just
three years. And I forget that these critic how to say is that they
have one place all we get, which doesn't really work when the bos those
are those markets. The economic structure is a fort, not a post quick
as you do the work in basible, but they don't take into the nuances
of the economy, especially enough and the policy and not just policies. And
it's not uniful like in European Westerner, but they don't seem to have that.
Maybe they do, but they don't. They are enforced that doesn't go
all the way when it comes to honestly, they have the requirements. How
these pledges are limited in an interview and you have Canada where for high access
and accesses and hares to make sure they can get back to it works.
But when you look at the situation the crowd, it's it's not something that
yeah, but that's like that. I will be by critique where it comes
to at least the policy. So and it doesn't work. They have it
doesn't work. They didn't money of swins in principles work. But you have
to get into the fact that different conditions issues just as you do. Well,
they have that doesn't work. Yeah, ixt it this way? Yeah
you expected, really I do with you, but that the nuance this lost
when they get to Africa. Right, But if you look at them and
said, let's for example, the brutal was campaign at the same time they
want I should an I M a flow and at that one they have told
them already this is what I want you guys to do. Number one,
that implement its new tax policy will just increase taxes. Number of three,
you have to scrap subsidies including your services. Number three you have to do
power can be propable. So was boring and that you that make it like
what's called band all I kind of stopped making them up to the re costure.
Tis right, but to in the campaigning was telling King, I'm gonna
give you free for I'm gonna give you free broadband, all that kind of
announsense. But he knew he knew that I was gonna sign this this now
from the iron and based on his his commitment to sign the IMF sixty million
dollars, he got mess txt million dollars. You know that I was gonna
sign. And I woke went to turn and said, yes we've reviewed king
as a policy and yes they're going to the power in for so we the
finas Adam was already up. They need to saw the act already. It's
like the five So now now all in arms, and they should because what's
happening here. They can't. You are saying, listen, you're not costing
your cause, you are increasing that passes. They have valid argument the politicians
now and then the people would still come back and blind that I am for
what they are, what we would do, and numerous back in Africa,
most is the problem. Look at Sack Africa, Look at Sack. Every
Nighterian, no start, you'll tell you I am a new liberal policies.
The same work in Uber uber policies Niger and Africa. What is it?
Nine junius kings have drawn there, coming to the ground that the peopeople brought
it over. I wouldn't let you. Most the last lender office. No,
I agree that maybe I'm not taking responsibility from most of the most of
them, especially when Nigerian's very's issues primary from those corruption about politicians just telling
based factors that naturally occurred. But there's one of the few places I'll say
politicians are actually primarily responsible for our coming situation. So I'm not thinking I'm
taking supposed to use yours. I agree. Reference is not the bog just
blame and I'm willing to get because you're alternative. It's a technic where it's
so my it's where what is that contract going back? Yeah, you know
what, you know exactly why I'm going to everyone want to blame baference far
worse where you know, very sorry my question, things get worse really clinically
have So it's uh, it's nothing. It's I don't think the reason that
I should say current situation for them. That's so, that's definitely I mean
that. I mean it's called the one buying private jets because I mean I
didn't buying private jets. You know, get my share, but it's my
junior find privates and yours and stvs where the one's doing it where they was
taking up because you know what I am as an exchange That's how it was
started, exchange money. So when your balance of tree starts to get this
stepping because you're a little bad, So that that's some more from us,
jount, don't speaker, Johnson handerly, how you doing? So? Where
are you calling from? Yeah? Mallow, excellent, go for Fox.
It's an opportunity to speech. And we as Africans we must suspected foreign loans.
And I'm so coldly, I don't know whatever is I will medical for
us. My question is why pro because the free we have everything on its
own izations, We've got more good. Why don't do some better on major
system that is realing force Africans instead of relying on foreign moons? Question?
I remember the speechure of someone Musia for a president of the Big is.
He said, in order for someone to understand the capacity and the objective for
the enemy, you must have constant or ideology of how to deal with you
the enemy. We must have a proper how you and African provid I'm always
saying that why generally have h industrially freditional, but that won't be able to
puceed it about these economic chas because I'm with it's been there for how many
years. I don't know which contes with him. For me ask question,
I don't think there's any African nation that has had a good experience. Is
why is this eceptional? I am convi with trouble, but the point is
that trouble comes that I am in common. They're like Chris and am poor.
When you have trouble, she comes, but she doesn't create the problem.
And if you look at Africa, three countries are not born. I
am in three countries. Number one Libya, Libya, no idea is not
born. All money, but they're not born. When I am number two.
Very sure, that's like not career. I don't printing why anybody that's
number two? The number three you got Botswana, and Botswana has been brought
in. They run the economy the expert diamonds and they pay very very good
economy. So again got among legion cod countries doing the two clean countries to
balls. This is the thing, this thing that I tried to explain that
very top right. So Botswana is going to run the economy as if it
was borrowing, but it doesn't borrow. It doesn't that way to have a
good credit rating. They're not borrowing, so they would they say, hey,
we're going to do that budget. We're going to be transparent, We're
going to be things that I am is asking for. But they do to
borrow. They have those borrow the every sausage country. They have been investized
us perfectly. Back to the economy zero Crossia great rule of law that puts
it to sound and then the people. You can't say the same for many
of the hub resauce wach and I'm gone the same. That's the thing.
So I am ever Totswana to to to give them money. When I come
to Zambia. You're from from Zambia, so you're from Malami. Malawi.
Your president became good guy. He dropped in Pritain in this first year.
Now they've got I amant to borrow from. That's Malawi. I know the
first time he came on. Didn't know that. I end up give him
on an he goes, what's very very luminous. The same thing is gonna
happen in Malami. It's new guys are going to give you guys to Malawi.
It's gonna be the same thing in Chris taxes moves off to this because
I want to back. They are not a developments back. I was a
bank also a finance company. World Band could give you ten year loans.
So it's it's the same question as you say, why do we have africam
but we have one back. But I guess you show us are the best.
Maybe Africa academy China, maybe at the all I am development knows without
these stranger conditionalities, perhaps because you don't have well, yeah, where I'm
sitting that now and where I'm studying that now is that Africa. It's like
a beautiful girl grateful everyone who want. We must forget on the line on
foreign forces. We must decide to build ourselves, to depend and the drive
on our own, the see mentality and the seeing ideogus saying, let's see
level Russia. This shift our I go to call it our alliance to China.
This is the one that is is affecting us. China doesn't mean Google,
so first and in the field compared to the in China, very different
people saying disciple and so we must have people their own as affident good space,
and I agree, I agree, good speech, but I'd just say
you something right if China was not in Africa. I doubts who would have
seen any standard transcontinental in Africa as we speak. And that's that's the irony
of it. I ape what you're saying, we should build our own,
But without them, I don't know whether when Africa would have been today.
I'm a temple. I'm just saying that, you know what is wrong with
I'm agreeing with you. What's wrong with Africa that it has to take China
to come here? Channel was something farming in nineteen seventy eight main whatever visited,
they had a farmine. But now they're taken over Africa. They're building
really with building rooms Africa. Your building was built free of flood by China
and Africa. I have n area and the building. Yeah good place.
Did you just starting to rescue something? Are you sure? Chinese? The
building of see what you're calling again? You will be for free? This
is good for free. It's all the same on many that was. That
was the takings seeing from Africa. Give an example is the easy exporting crow,
which is a row China creating jos. Do you know what this gas
area? They're buying jims, plant and group metals. Their bye, but
when they come goes to China and the day in the parim and the different
types of metals. So we're talking about doing things for free as Chinese were.
Because we Afghans, the ones feeling we Africans and the ones feeling Russia,
we are the words feeling America. You can say, okay, we
must have only our only old college ideology on how to run this continent without
the line offer social for thank you commented with thanks so much? How is
the found? How is the how is how? What's happening to you?
To see what body find his find find excellent? Today? Sir? What's
your day? You did a little of us a little big people. Even
the concept of I never designed, has never and I am to have any
under the block country to come out of expanancial progress or help or in any
way. I've never been a discribinization of fact from Africa completely has been the
being of our fund government. In some countries, like for example, before
the introduction of South look at all our industry, look at fair I used
to manufact to as contract us lookers say, do you look at books and
legals? There were some pullaying truck structures and so on and so forth.
On the return into into houses due to the structional adjustment books and the who
is Africa contius remakecause perpetually people and turned on their own resources, on their
own finish goods. They take materials from Africa, they been by fish products.
Why don't they set the industries here, we're using the law materials and
we have a lot advantage. You look at what is happening, and and
and in major look at they have uranium did not have a single power power
one member words, but the whole of Europe. This is a text person
acting persons of intels, the uranium to power the dandagy so on and so
forth. How would you give somebody you loom a package. Let's say,
let's say, for example, you need somebody one billion dollars loom for a
project. He spends six hundred million dollars for the size for these sers and
so on on. The villion goes back to the US, the European nations.
I've never said them they actually have any comment of the woods. It's
never there. Also on the implications of a contribution to this a lot also
this have been married out from for some such a long time. On this
since I listen and see her the question. The question as this when sa
who who brought up? I broke up my vires brou because those in the
vision true the industries are talking about stairs and an uncle. They failed.
It failed. Then I m f king it was a competition. That's the
point I made Hannah that if you google this, if you go back and
pep listening hand asked that if you if you if you go back and look
at the history, I don't said, look at the history Bangad that was
present austerity program with men that were broke. Hence we had to do austerity.
But they then said, why do you do austerity? Why don't you
restructure the economy to take this from the consumptionisting consumption to production was from the
bancade. That's time. So we said we're no longer going to import that
stir you're talking about would in c KD and couple in about you and then
usage. They said, no, little to backward integration. There's the impulsustitution
and make the local materials for stair about pizza that just bringing the feud reports
and then use this stir in Nigeria. That was the one I there who
were broken. You don't have to give you the yes was producing. There
was no producing flatship. But Hannah, what is the difference. But Hannah,
is the part I'm making sad was because Nigeria was broken. I imagine
not give sad that we became broke. That's the part I'm making where the
timeline has to be established. Once in the timeline right, that is faster.
You can't google this one day. That was the most scarity program because
we could not pay for the imports before Bangda essential commodities. I grew up
lying not to buy a shoot the milk and Nigeria essentials. We could not
pay for the imports. So SAM was to allow it to get looms believe
at the irons room. But was the structure of the economy to allow the
to access foreign canter? That's factual Nigeria Nigeria I did didn't take you a
result. Did take the exactly because what do you need to do? But
it is a pretty for they do is cool? This is the timeline that
the web said something you want to access this? This had the police ground
I do this, So what can this? This? This? This this
cent ware advice. I spend time with man but when did manators look at
the totument down to the spy would you kick thinkers? We were totize to
the first book industry. I will assess us as still like because I said
the would advice, you will have to go on. I guess you're walking
to sovialization. Okay, so what did I am not telling you? One
umber one increase the more tax lemol Nigeria was more collecting quote unquote, and
I'm doing very flippant taxes by getting money for foil. So fow, how
can Hannah, how can I help? How can know everything economy from taxation?
Everything? Every Western national taxes station taxes. You can argue with the
mechanics, every initial taxes, every initial taxes, the initial to be like
Malaysia, every nation basically was free. There was no TAXI the government.
It is import people don't have to work in so sunset when we were structural
structure adjustment to tech Nigeria from an import to many local manufacturer. That was
all sample. Consumption was important to consume. We had no dollar, we
could be four dollar. It's passive. I am a stopped the inport.
I am saying it cannot afford import. Hence increase your times to host the
local pot too many for so it had local height tech a local heightench and
came because SAP came and stopped the important parts. These are not important.
More part into nager again. You now have to like all local heighten local
today and today you not have the eno sense and the world the conatus.
It the issue of the south, the issue will not do it properly.
If we're going properly, would have had Ino sing in nineteen seventy Ino say,
it's local. One is German. So they have huge constructures in the
Harperst culture. That war is band is still here. One is pretty c
k d to do legals to I said, that's what's taking up. So
I am, I said, you can't afford important more. You have to
do more local inc this is important. Still it's amazing or who killed Jack?
I am who killed a jug? It was faster, but the worst
thing I decided the Russians build and about the west still Russian? Did I
give you the cont that was from the stuff all night rosa. I joke
that to use their pulls, so I just I was to steal without the
bonness. It's not true how they are jumping the so you know what I
talk about that why did we have the tack? Why do you have it?
Why? Why do we have a tackma man? Why is that?
Yeah? Why we habits? Why do we have it? This one is
why the habits? Now? Coo, why would that? Nigela? I
don't want money? Why do we habits? But I don't want go ahead?
You know? Why do we have no question? Asking? Is that
a DNA cannot use Nigerian iron ore? We have to create the idea iron
Google because okay, let's go there. You go answer the question sir in
Nigeria iron, I don't call Njulia has an intire can cannot walk with a
jacutar, So I don't have to build. Then you have iron company to
iron. That's why we do that to make money from the process. So
instead of selling that, they have to help mine incorporation to be spending the
role as tout as a company. Now. So the comment answer those louis
noir. That is a con to move on. We have to move on
starting their life from the word from the companies. They said the company adventure.
There must be a first for this, so that you do and you
know is company not that I don't know we'll just be there because it was
such as the company now and the independent of the as of the mining because
of the Mining Corporation Commission supposed to take classic class for us. What's not
is completely use to produce whatever we want. Flash. You had listening,
so let me let me try to do this. Hold on listening, so
let's miss up. I listened plants when I so, why do we want?
So what we complaining? I move on? When like yeah, I
was looking for song to do and I still the plans. We went to
the west, the west signal Russia, I did, I didn't have there.
Russia abait to give Nigeria in noom to build a ja quota, give
it to Russia to build. Then Nina found oil. Because Nigeria found oil.
Where back to the best Salami sucks. I'm just finished salami. No
no shot play that finished the poka Google is took good. Nigah went back
to work to west to try to get contact to the west to do because
the Russians came back and told Nigeria that the iron or in Nigeria is capable
of being used to mix steel in child cut and they have the technology to
use it I don't hope in Nijera because the problem that then the West I
am in Nigeria cannot miss steal the Russians cannot consays no, it has this
technique and make it based on that. You give the contact to child Quota
where the Russians to count the Jacota they started to build it. They didn't
market nine out the plans later on the power more from then the guys found
the found out that this was a huge scown and it was too late.
That's why Russians built Adacota that you have spent five still plants. None was
given to the Russians even at jac guitar the Indurianblus and then give me to
the Italians and they are I'm going to build in a jug didn't give Russia
any other contracts in the Russians are important dates into a juct to next Still
I don't know in Fied to next still it cannot make still needs to go
policy they want to now because se country has improved now is in the same.
I don't that the Russians papers they want a cralal now, but it
is after twenty twenty years back then not possible. What that said howd on,
let's move on. Well, let's go on, hond on, move
hang on, how no, we have to move on. We have to
move on. Howd let's move on. Let's move on. So let me
get I am appreciate that jump such I won't speak Lucky you before Lucky Lucy,
sorry about something? Lucky ahead, Lucky Green walking twice at doing mister,
and then I this glass, Yeah, Lucky ahead, okay, Wise
where you come it from? Lucky go ahead? Yes? Yeah, I
find you that? What exactly like? Call? He'st you find out that?
Okay? That you know? Who is day Lucky drop? I can't
hear him again? Can looky? I can't Lucky mister edky he lets go
ahead? What's evan? I think you dropped off? And guys his mistake
first Piet around you guys speak please dip oh more year listen, Hi,
thank you very much to everyone to say everyone want listening. I'm trying to
work. We are diversity covers. Yeah, and that was the focus of
designs up said I, you know during usual health time, because I'm trans
forcing us like someone who always to fat, always telling you I'm like that
close you get take help me? Is that the gift of the shows that
all the excessis of the politicians to do conditions that rests. So if ye
conditions we're talk to politicians, okay, mytage, put yourself on really somebody
before stop stop ahead now and still okay, trying to help us. But
when everything you want to keep generally you know you're goodtroduce. The chance is
to step the masses, is to punish the mass, to punish the common
man. So I don't think you got that idea that they are how to
dis Africa. I don't think they are at work because it looks like it
so like like there's a thing that reality tragedy buying in the I think something
was around. They may exporting exporting massive so it's not about moving from consult
to put, from consultion to exporting it like ye're exporting massively before there before
who doing get school southwarets to goloptoring schoogle. So we are so das now
that they are so lazy and don't do anything, and that is really for
us and speak look a look at the point, Look at the point,
Look at the point. Southwest was exporting cocoa. That was a problem so
more cocoa prices fell, the Suber's economy fell, like at every economy in
Nigeria, they wouldn't have the project complements. Crist Woman had no for rights
to pay for him. But because by exporting the row mater supposed to say,
don't exp cocoa, export coco powder, Cristy lookal jobs with that,
cuco locally create jobs column from locally. Then export is finished yourself an adjustment
program from being an expert in known that was exporting Grandmars cocoon. Like you
said that was the good idea of sud. It's is like expect your policies
are conscious against the purses. I don't look about because they're not making more
possons. We have leadership in Africa. Where's the gains in three months?
Somewhere you can just go the the is good going is he's like listen one
there this one first what I mentioned this over one thousand okain that permination it
would sports. Lets you look up the experts, experts exports, proper exports,
what was it doing? A good says with a goody and there's who
have pocumney still have and we are going back to mon noo afterciations, business
or what you wanted from him, head them or nothing. But the stars
aren't cant to the masses. So when they bring these policies like subsidy during
the election, where people are saying subsidi school, I was just so I
would to get people said standing place. I agree you said when you say
that, why doesn't they ask can I when you said the well, don't
they at the position not to pay themselves salaries? Good point that you.
That's not a fantastic point that you phrased. Why didn't they tell the canon
for fooding themselves salary your men moments? I think I said, excellent point
if you don't mind that, get edding in. But I've taken the not
of that com Yeah, because yes, I can think one of the bist
probably have en Africa is that we what's the fun time to get in the
west and limits if you're going to business schools, in a business school,
there's about policies from g So I'm also no Afrika if a Frika rights to
become a complicated the Philippines at the mod and now, when I when I
think about the problem we have got into, I don't want to see from
the how about review points of you. I don't want to see from my
view point of view. I don't want to see from Osford point of you.
I don't want to see a problem from Karmas or those who characterist of
you. What am I saying this? And it's because it has to be.
He tells that somebody is printing this is of paper. People are printing
papers or creating us some digital numbers and return for them. They are demanding
threat or resources from musphere. They are demanding that we sell a product.
There is sheep and they are if this is of pay man they send us.
So I'm not taking it from the economic process of it. I'm taking
it from logical sense of it. Mf get the this is of paper,
bring them or read us some money and we turn we are selling our resources
very cheap and paying back for that. This is a favor, that's a
that's what the moment most of their economy is based. They can print as
much paper as they want. The Europeans can much as they want, and
then it's leaving us give our resources. So from my time, if you
want to try to say invest me, why don't they but give us paper.
Why aren't they give us machine ary like you guys were talking about your
Jucuta and new brand new machine motive. MA shape is not less A ten
told us to pro produce tale. And now don't I been in this idea
that when we talk about it, for example, guys about decision we can
for free, we can, we can even sell one there are using to
produce sheep product and lest so I'll have to put the shot the thing.
I'm trying to get us into thinking that we have to take the last nay.
But I just think that somebody's painting that this paper I'm giving us,
and we're selling sheep products, and you think our own products. I want
your exers and pay for that paper. You know. But I hear nobody
has stop stopped us some blue saying not bad. This is the better trade
than to hide first to harry the sugar. Nobody has stop us from saying
take a printing presses and track us. Nobody has talked us nobody, okay,
we're not doing That's when this takes us. Well, it was not
before them, well before them, Yeah, trying for the fact. Go
to somebody in London, and this is increasing inflation those policies. Is you
ready inflation goes to dig that's an issue. Yeah. Again, I'm not
saying that again you have to ask the question. Came a show that you
can't go to the king and increase tarists. You know they are showing that
that they won't take it. But Nigerians in the last the last movie eight
years, price have been growing, tax, tax, tax, that's vast
part. Everything's got a price. People are saying, that's pray. Let's
us prayer. You know. So again you are I'm agreeing with you,
but I'm coming home to say nothing. You are saying this can neither no
country has said or you can't do will give you machinery for your country has
said that. So I'm clings and I'm asking why haven't we doing this?
I'm making so I'm talking with yourself. Let me let me just like I
said, why happen? You need this? Currently needs a consulting, SI
run some projects to do some industry and I do do you know? You
head? Did you happen? Is the edge and as far as they curs
cheap because you can't project the camp find because then the keep on passing off
the energy price is so terrible because lising, that's not to run the amthing.
You need to tell, you need to need to, you need to
come to touch take you five years. You have to do some complation that
to create us and for that edge. But if you come like keep for
the price of getting for free in Nigeria, it's free because of pay,
free is free. If the government can come to their senses and bring down
the price of energy, let's tell the saucy let's like I said, have
done that. They can have energy face pride for so many five years.
Then production but is so complex. But to avoid this it's too let us
have you chienergy in the area. We can't get anically chip energy. We
can be speaking and then pray also doesn't move on to so we have gas
that we're saring. So we have so much pass in Nigeria that we have
one we said, yes something that we have expensive at any tank story for
the coming let me get a doctor there. Yeah, so if you're going
to get cyrus, cyrus, how may become very well? You think it's
very much conversation. I know I was on the listener sasion, so let
me join a most checking one of us. I think the big issue about
I am it's a love to based on the stand. If it's an international
you know, you know, and they deal with create facilities usually last results,
but you know, compared to on the bus, you know, so
they don't know they they found me when everything that's been broken and something to
say. And that's I mean some of that comes response to them. I
likedational in getting iron flew on the iron flow and every other doment that backs
by the way Gay Week issue people facility these on certain conditions. So now
it's not somethis imposed to you. You're gonna face down your float. You
have to look at the colisally, you know, time to public find us.
And I think there's one part A lot of people are talking aunt here
because you know, when we make certain station or masera ass option, we
always the fact that they need to probably find us in certain decisions. You
know, so you given a concessional low exstle's also look at it tols down
what is you know the insual you know, this particular economy was the fine
algy popular economy as technology or whatnot. But in Africa here it probably as
you know a lot of people try to make the exeology, go bake it
in a matter of you know what not is that we not to manage police
find very well. Most of our ven news, you know, in terms
of comedy, do not come from the pos of three, which is an
effect to us starts like you know, people exerting H three or economic activities
and repayments of the government. What's man about financially is techinly you know,
coming today after the goverment. So for example in Naga we aud and government
so good. In the US, it's not like that people are involved in
one chaine of the economy. A different activity of that becomes to you the
econdists, and then it is exerted to see a reg government. So we're
gonna be there to be engineer our our talking for a social way that it
is geared towards productivity, geared to those trade, geared towards in social traditional
alarms. So we'll take to many of these, you know comments of companies
that are very very efficient, very very efficient. I remember when I go
to a game something. Let just me this last point. I remember a
way to give he tried to raise about I think the five statehold COMI I'm
probably make him work for about thirty years, and I think that God lost
in anyway a member of all I was saying, it was a little better
about there more so you could see the probably after time from the same because
remember economie about cuts the end of the day, there's no more to go
out. And if you if, if, if you do not have the
the right moment, makes of the economy are okay because you know you is
successible to all of these. Now, what I have really forced many counties
to do if to find their way to induce spending on the resturgy job.
I'm also increasing when you are to modicals, but private polization the good you
know, to boost us for the economy because even if you want to come
to almost every after their conty have also took about your counter. If there's
no money, you are not gonna even if you want to move your jersey
to be the mon in charge of steal in charge of any So I don't
think it's fair to play iron or anything from that part for that matter.
For they like their own personalities. If you know, we have charities,
they are county that turn manas now to see after the country coming to it's
like here China and don't let us, says the complete They also have their
own conditions. They have their own conditions, many disciplomental passes down conditions.
So I don't think it is faint. That was the visual to money and
find us and we have to engage and thank you precious, but we can't
believe that I am a positions allowed the take it or leave it or get
your house in order. There you're in the composition. Thanks for being here,
sir. You've hearing about I am connationalities. I didn't help you know,
hurt in Africa. How can you help us? How they hurt us?
What are comments of the girl? Why said let him gets welcome to
It's uh, he's a very very well. So where are you calling it
from? Excellent? You go the floor. My own contribution to words on
grand desire from the historical aspectis I would say after the colonials left, After
that they try to bring the instruments in Africa and then to make sure the
definitely colonized. So when they left, the makeuse our economy on the western
and the menu of the name over the I am a bank to the Lanize
Africa. We are giving the resources PRIs if you want now in in Africa
d C. So that in pay I mean, I know, I mean,
okay, okay, question for you, I mean right now, thank
you, right now, let's speaking to him to do you have power?
Right man? Power plant in your house? Who now do you fellow?
False? Of course mm hmm. I mean the point that you get to
excite mean in the end with your tax? Are the your tax being that
pop build with your power? It's your pa. You'll hear your own past.
But paying the government to paint the power set up? You have no
power in your house. I can't really blame it. I really play the
government for that. Can't believe a party for that of pop. Okay,
there no reason why we can blame the government. Because let's take the answers
as a cast when we made them, Massis said, for answer the brutality
of the police for than the list. What are we having a protest?
You now? What protects? I don't know? Yes? Before now lesser
to take ninety nights nineteen eighty con true? Do you know the the exudation
the movements? When improvements would I moved to the so you see waiting when
keep when they keep the shots? You have people say and the like today,
all right, we gotta do so that I M so prepacious. It's
a I've got covers on I m if you say sometimes conspiracy, I get
that. I mean, you go, it's appreciate shopping doctor, and you
are ready to speak now wasn't going to It's the acme of doctor very ready
to speak? Or mister, how are you? Sir? You had meant
something that I am A yeah, what's a take on this? I mean
it is that I am appy to call you. But I pointed ended up,
we're not putting to the cause of the politicians. A part from that
is there a case that I am happy to blame for africas you should I
when you want basically doing ourselves. He goes, I'm bullying and I love
the right to the game worth because and I'm borrowing and working. You know,
I find this so far as iron man, I am not concoct with
irons South Korea, Singapore, Malasia, Laicia and now even in a we
are very five actual Yeah let them and there's nobody whose like that I have.
It's not means I have, In fact I have appally there I actually
go to resources. I am there that's like a global instriution that which is
the gup between SUSI between it and district between and the rest. Most of
them first with that level of very highly improbies economic deficity course always going to
go and borrow, and of course he goes you cannot go to you're going
to do if you think a lot, it's everything that commercial percent that I
do when you go to both the carmatic to bring you. But if you
don't want to do your fay, you can go go go with your problem.
So lament that they but I am who should look in and ask ourselves
discuss just goes to have the wrong way in this culture they manage well who
should actually be? Because I alone word Parlon, how what have you?
I was? I guess on the writing this, I was this am issue.
Several of our problems come from corrupture and corruption, from the projecting sions
that call you you are economy starts. It is some that's when I go
to your page. So the pas you make it everywhere you're right, you
make it. It's so simple that people of my level as part round with
expence interesting a part of that as you are supposed to be on your page
learning and then I have to be talking to those super part leaders to the
apes are using you. I saw some singles just like you. Most of
everybody is talking to it to leaders. What I makes idea is an economy.
There are two economy, the physical and the boy said, and what
is the rule of the physical policy? If two policies are yours alp of
mets us to spending using this taxation to achieved do that impass politically on the
weather of the massive moltary policies that they are to do with ass of the
podcaster. Where the monetary policies are Nadia, you will be blittering the pulums
of money. You would have economy to also is stable financial that'stabulated e CO.
That'stabulation. Now you look at it from what point you always saying this
Nigeria, he said, very fun how we put it into if we are
actual chart most of the first that would be taking from my man from black
ages from back to do what is supposed has been done in this country this
country by now will be in that country. But to the global to the
global community as that today look at I said, they want to podcast listen
if we are continued, I intrage do the United sibility and the exime of
the interview was to be the last Satia was like billion. The last who
had got know on that he read to they who are being stuber and the
cold has over to myself. The lasts food point to fifty three billion the
last we actually left the world doesn't becaush now want to in two do it
has tod or that's to do because they happy on this contry coustoms liberating how
they were their whole the motley or the highest all ever, how do the
clapping last question? They haven't imports pulom that year. The last thing is
they did two billion the last. Now we don't costoms and respect departments that
if and there the fist regius pisi to depend on who they have to PLEMONI
so they have even INTI through across of whos have common in this country on
the adverts mostly costs. We don't know the levels to sixteen period the last
because I look at because they're so what happened to look at all? And
we gonna asks improve this if the manager wis well, if we provide solely
have sound complimentary policy physical play in that year. We have no business and
we have no business with water. But what are they I raised more funny
as I said, I will see they said for that to see our frastructure,
we need to this is a meeting it and look at and people that
look that standing all the Indian's thousand and seven other way with the word back
this country develops in global fast develo. That clearly the sector said what we
need to do to lose our infrast decision the level economy that we have the
word do the second world and the black line was the lasses for hundred bag
document get priment. I'm sure ninety nine percent of those doverment you grab life
smit for and that government was the idea a me investments of bred Fiel your
glass over the staty which is four point four or billion and filure to be
happy. You talk this economy and physic this is it. In the housing
sect we will speak on most about sixty six fire never nobody can from the
health sector. We pas sector to power to what else we know what to
do? We need apples on the advertis the business investments in floor for the
billion glass and mondyono. You can look on my sat they go and this
partically a flute. It is not going to come by the sec unfortune that
happens Acon and their abs of governments. It's not going to be coming from
pricing to loose or passing to share, or going to loose or go into
shop. It's only going to come through physical and monetary policy in public fast
my DISI play a craatability and transpamacy. My brother, you're did a great
job that I can tell you for a sure you're real. That's basic to
that spacing. But who understands who want to understand basic econolices, Who wants
understand high ecologies? And who wants the full lane? It was God at
the end of the day. And if it's when they come back to have
people listen the fact that's supposed to live. Have we finished adustice? They
usiglit among themselves and they begin to debate hap to ofcause we know in that
area political office and political office do not see call to serve. I said
this relate I'm pumising as the exciting fantasis. Then as it maine to look
to see and the fire stay out and down this you know, sometimes as
when I say I give us money or when I say what I forgot that
they I do even know that this moe is a good different that the way
what they give us them. He didn't know what they give us. You
didn't know that. I think it's another form I see this would be I
see that because it does not make taste to me. You do as a
person, Where are your prefrom? Because the one I just think you can't
not in the family. You know, somebody give you money will force you
know in my violage where you have any responsible storm who always that this work
people doing improvised? It was a fool infensive getting something that has stay it
possible get into money and then thin that that try discovery reverses as listener,
it's called on the head. When I ended up in pompolishing the rest of
the sty it is they who FEUs. Then I aver because I see so
sad. I saw afrik South Kootias from South Kolia in ninety seventy who's two
days SuDS Kodia. It's catching going for this is Africa. Listen still,
how do you see them get out there? That's for dogs And I'll be
willing who who works this day for a figure had leave off this day.
It's that year has leaves on the expotations. Who having all this Russia Africa
from it? Im from this triangle, dude, when our field Africa,
when our father was I'm the call fake. I learned the problem what may
what the problem? That business? This is how did so? And then
I'm thank you always a pleasure having a big fact and passion. And we
actually when you came and when you leave, you gave us a lot of
So I pretty a chilly here I see olet you a rise. I've shared
it. If you can please jump onund listen to it is very very was
very like happyple you. I was comments by John and that yeah, just
doing the first uh aligned with were oil prices correct? That was the correct
def correctly have the oil boom. Yeah, we had the oil boat.
After we had the injury war with oil went in private. That was a
lot of money. Also, we increase salaries, we increased spending. Then
oil prices crashed. We had a deficit. It's all of Nigeria to don
the sending deficitsis simply went and borrowed to maintain the lifestyle. Is frank,
welcome to the bast hellos. Let's speak frank now all right, let me
get but that was that was the when I'm making. When we spent,
we had high oil prices, most oil prices po down nineteen that did not
adjust. Instead of for us to stop the spending, we simply borrow to
spend. It got to the point that you had no money to go to
pay for imports, which is why we have to didn't go to the ad
came well comes this belief because and I think people understand to take effen in
our inta s general, I didn't try. I think can go on.
We had this nothing of the plans, yeah from you know City Nigeria had
the Bland plans, Yes, we had it from nineteen sixty wesh plans,
go one had nothing plan. It was a world that want to create.
If you made those plans, that's why you see them saying bills, universities,
bills go from here, Goggle, go Google. It is very very
detailed because there was a plan to develop Nigeria consul as a framework even before
NINETEA and nineteen sixty. If you can go and google the master plan for
Northern Nigeria, for Eastern Nigeria, for Western Nigeria. This is a detailed
plan. Not had a plan to contact the entire or one entire of all
what you see people of Niger, it's not Nigeria. They had a plan
to fun that place into region. I would not deal with imports of the
exports. They had agro allied, agricultural equal slightly petureion industries all stot up
in that place. You export mo finished styles, belief, all that thought
was all in the planet. This so before as you had independence, they
had the plan written back to the British, they were start to implement it,
implemented then crudel king. That wasn't the issue, but the real issue
was this fiscal peralism. Typically the tax powers from the states to the federal
That took the incentive of states to actually have an economy. States don't taxonize
you a living. Federals collect all the parties that distribute the incentive. Or
it'st by canoe to have Granmar pyramids whenever they go to the federal and they're
going to be shared across the federation. That's what we have. Bro that
was technically start and sort of targeted and economic there is always interesting so you
can't it's attached. We're playing want to keep on as well as inducation.
In a version of Commons, you can't. You shall have a plan for
that. Money agrees and resolutions and we sure seeing now shots spends any stops
inefficiency markets. You're playing your kidding, but you're kicking the ball down the
world and your version respect for us. It doesn't create it doesn't create any
productivity games. It's also stay. Yeah, it makes maybe exactly, but
I even say that that's that's amazing. I was like, I don't have
this both trying to like was sticking to a plant, but about half the
plan. Don't steak into a long plan that ending elucy. I'm not wanting
to just go through paying for point decisions or natural micro facts. That is
kind of like a continue oil price crash was an excetality. The effect of
the country no way to go through the pain and wanting to try a frog
hope your problems to your own designs around that decision. This is actually where
we're falling short. And a lot of think countries goes to the city and
maybe because he ties into politicians want to make sure they stay for re election
or even that a lot of countries such as back since the eighties. So
maybe that's that we're going to have a discussion. But no, no,
no taking these catch shows with no plan, no actual real plan to development
on me. But the fact is probably you have been able to speak well,
yes, a problem, you know. Fantastic. Thank you so much
everyone. I mean this, I've just stumbled into this, into the space,
and I'm really really happy. Thank you so much for the work you
do. I mean, I follow you on to that, and I follow
your commentries, the positions that you push anything like brother doctor Bary said,
I mean, I like the simplicity and the way you just bring me down,
but regretted it again. I don't amplimented and put this lamentation about the
kinds of people that sometimes being such irritating and there's asperating comments over things and
that so so simple or similarly so siple because they don't understand the leg those
issues and changing of people. Now I'm going to just the last speaker from
the last few speakers, to my mind, have largely touched upon to say,
I'm just stand by. I put this in perspective. Question you asked
me, Jeeves, is iron helping pert in Africa, and I'm saying I
don't put any blame on IMF put the blame on Ward Bank. I cannot
n blame when the latter or persons usually end Upward in their relationship with Africa
or with Laura in Asia. That's no business like me, it's not very
much interested in com development. I have a a privilege of my office and
to share. I'm an experienced part. When President Passenger was looking for the
leaf between two thousand and three and two thousand and six when there was a
brief to help guests get to leave and then also tail her death in the
resting share. A lot of you are aware of this, President Bush of
the United States, what's the big player that America never saw us the dead
to push for death? Really the said, no, that's right, we're
cured for specifics. And that's the fact that out of control was the because
of corruption and to keep the deaths of people the courage corruption he refused,
and instance it was the lord of blow and the parent's law again because of
it. On this that among the Passenger, people like Obviasquity, people like
Google Jowler and they need the quality the papinented ben quality that they would see
very consulting efforts to be performed. And so it's supported and less supported,
the Chancellor College supported, and the French recovernment at the times supported and all
that that by little multiple positions around the world. And that is why I
needed to come look badly, are sick. That's the we're wrong to put
you the Parican government right, because if you look at it today, that
ilief not to relate the fact that there was a leadership and the team not
understood what it actually don't applying themselves in your religious people. You really need
the difference that was made at the time, creating as from account which was
eventually read there you rediate to this day made you feel for and does not
exist an isolation. There are rules and revelations that government, global government consistently
not worth consistently good. All right, it is the day and there's nothing
our president conduct or the conduct of our governments in shows that we understand that
we want to say result spudit for the close the choices that we make as
a country and as a people. Listen and in this not many people.
I don't know what a tad people here, but I would just take out
of mynds back there was a time in this country when it static. Leader
seventies said the Nigeria's problem wasn't what I would spend it, and how did
we choose to spend it? We chose to spend it by inviting the old
commands who adverse it, you know, but in our nation invited. That's
why we chose to spend the money. And since then we've had a cycicle.
You know, I'm based on a rising the right war onto. Since
then, what have we learned? What have we done? As I've said,
and I said, it's a seams of looting and looting and looting and
ustart living somewhere else. That was quite believing. Colonia business Man is a
No. These guys have been gone for over sixty years. In some cases
we felt without people have been in charge. But it is not the fault
that we don't have to discipline. It's not that choice. It's not a
fault that you're on hit to understanding because I make the right leadership choices that
were people to remain on the bath of progress. No, we cannot give
the fault. We cannot be good questions see this so to me all the
companies that have made progress cloally, No, that's miss progressed by accident.
It is through it is this pross has been the product of very dis leadership.
It's you know, it's of lightense of change. This name is it's
this progress made on account of ancism or majiocrity or religious excreasy. It's no.
This this progress around the world has been made on the leadership of individuals
who will concerned the place of the countries on that this son, this son,
and today this progress wholly continued made when I'm on an interview business now
it's only look good in business. But it's only family basis. It's only
a country basis, or it continued to basis, it's going on the basis
of discipline and disapline the vitality there for like the girl whose pictures of the
world has to speak need the reference to those development plans that was crafted see
in Western people. So please, that's so true that I mean I made
this points over against I'm gonna mention this answer that Nigeria, if you go
back and look at the plants that were created in the region of the regions,
the detail we create power to employ people are going to use the natural
resources for this region to grow jobs, create wealth. It was then built
by Nigerians and we actually did it absolutely. The question is this right?
So why is it that I see you following up to that? Like I
said, I know where your address are, I know assess your asking and
everything is there is there very good to see. But look, you know
I mean not doing the personal license. I'm not going to get this specific
reference. But let me say something. There was a time at the second
terms I am the first of this bilateral restitution of transitions were actually got to
a close and it seems like no, what you need it because we are
sure that through careful and disciplay management of polic nature, we could guide the
nation to the path on the path recovery and the nateral indeed recover. And
I'm so close put to the party saying so much which was splandid within how
many years complete on accountest and this the mania continues today as to any period
of prosperity. We are not. We are not. We are not.
And so you're asking yourself what a man of leadership who is so unmindful and
oblivious to everyday to be on the pass a continuity. Look at this national
asking for goudness, say happen and in actions are fact in the nation and
don't get you as as as as as politically listen, what is the difficulty
understanding it? Do you listen to that? All listenerious people? Excuse me,
but I'm really getting that right now? Do there some people understand what
you say? Practice about what national look is? Do you really want this
sad? You saw also that man on on channels. What's asking the people?
Still you listen to? Have you listened to that? Have you listened
to the study president? Have you listened to you? Have you listened to
others? Because of conversational technique to the madery at this time is where we
are in mission? Anybody speaking. I was dating I think executive participants for
the games and I've made this statement a state and he was listening. And
first problems the policy problem, because as you have when it's from forties,
fifties, sixties, SCE, you name it, we've had with policy almost
about everything on the sun. It's not it's not a policy problem. There's
nothing I want things today that we don't already have. All we need to
need to take it find the people with the charcastity and pray for them to
have the discipline of me to to to bestution. It is a problem.
It's a leadership. So I'm gonna go take more time because people have spoken
at lens and I think I'm basically gust really for stage asking today. It's
a leadership challenge in Africa. It's a leadership challenge. It's not being challenge.
I don't blame the US, don't blame the West. Don then anyway,
because I read around whatever we are about this conversation with no one has
tooken out from the solution for the problem. We are walking around the problem.
Size on everything that position and that is in Africa. Okay, that's
a tell you what probably have a lesson, you know, I mean,
I haven't a problem. We're not a problem. So what I'm concerned about
id one life to this conversation. I'll lift your conversation and I go back
and where or attribute when I wrote, and we're looking up deciding online the
problem. But it's okay with that, which is agree you know, in
a prestival whenever respectful agree with you. And so I'm the cost business right
every country you have a national leadership, right, the government in places?
The government in place? All right, But as a citizen, what would
you have? What? What? What life? Is my role? My
role of that circumstance is to be a goal system. What does he need
to be a good citizen. I like to feel my sailing judis and americanstabilities.
I'll like to be able to hold the government accountable. Right and when
you speak, if you have anywhere, so somehow we're gonna be a good
season. These are retution so that we can speak for you. But we
have in coming. Thank you, thank you, thank you, thank you.
I want to space when I'm not craziz. That's I'm want to face
contro motly better for the nation that I'm on the space. Yeah, okay,
good see you said, but you can't if you didn't call you up,
you will have to speak. So are you You've been called up?
Go ahead. So that's the way I promised value. That's praising this space.
That's what I'm going to do for the creation of the space. Pass
the great practice. I'm okay o destroyed the roping nation. You go bes
of INRS. You can't used there without this function and could help the amation
on thinking that the development I was going on. But now I don't want
to do that. I was interesting, it's okay that yeah, but I
don't think that's not saying don't do that? Who end up? Now let's
look at you have nations. The heading I think we should implement in this
contract all is speaking about his education. We don't tally forget that's the nation
to grow then in need for astound the development of education, which the UNS
was striking. And remember a couple of years back, whereas it doesn't even
every increasing. Yeah, yeah, that's a jama. I couldn't ere his
composition was fright, that's a jama in it's like in sense to that man,
I'm an educationist. That's about I was a shared over gone. I'm
like, wow, really that's what. There's nothing else because because again happy
taking down the points even get the lar human ability and that hours of shouting
that feels the education the red the new point for anybody. Alswer Gama is
looking like and yes it's the problem. It matters legal and I can't say
this. And they got to this guy the best in every area of education.
Also of the inpos here everybody has out of the bats in it.
Do you go to the average in anything where you said, I got of
the I am ambers of the problem and translation is normally making and it's all
true and don't think that good and everything about the structural forget this says one
of the slots important. Okay, sea and okay, everybody educated. Medication
is not about four more. I am recording was in program invest action plan.
We don't really need to system go down. They did me. So
many killing people want right now you're educating after here right now on so many
issues, and they that is the trend that I realized that acasta, I
have a stuff that I never stop. Realized that the estates and had to
purpose that from forward from naturalizing and we asked the tenders of African country.
All do is content I we colonized because all the doom that I was aware
slavery there the different life sense if we're in that ship myself to shaming all
that live the interests I remember, I know the level. Just to go
back to the king issue. So the essentially saying that their petitions they protected
before the bill was passed. They give points points debates party that leaders per
said you can't sign this sign this passing those points happens caught down your own
expenses points and then relaership listening to them the afric like okay, okay,
what are these? What the salary? This sid this salary, I think
you've got to let's talk about these salaries of the m MPs are higher than
any country on earth by capital party. Can why didn't they reduce their salaries
when they increased taxes? They didn't do that? Can they do that?
Carriers? So what you're saying is that So what you're saying is that what
you're saying is that Kenyan politicians invested to serve the people by the by demanding
the highest salaries on earth. Let me repeat myself to say I'm not being
misquoted. If you google it a capital a GP, the Kena empties are
the highest place empties. So what you are doing, I don't look that
from the reason why I mean to find anybody anyone I have to do legistis
I think it's education very good. I agree with that. You you have
maybe a minit to saf you don't mind for the right and tell me that
young original I am ready to get them. Yes, and what you done
perfectly. Everybody everything all right, God, just because an argument is because
you are the Christy asking people to protests on what you think it's might to
protest. Nobody tends to tell anyone what is for. It's called it the
crazy because everybody went towards you can peacefully worked for you work for your government.
I'm never getting you. You can like you for the foodlotes. On
the last speaker's comments, I was getting a bit worried about the prescipation.
Thank you. The first wanted to speak was when the legality and I don't
think that it's really balanced to that conversation, and I believe a lot of
everyday that I just if youse those to that. Now the problem and I've
studying coloniality strategic studies, gloom. The problem is not not the good.
I'm not an international not a doubt. The problem is how leadership has engaged
with these institutions and engaged with the domatics constances to build a nation. And
this is not all that cross. You know, they cannot at least contests
that we require that you have to do. People become on me is what
is lacking? Like like what you have said, the very say nobly that's
so essentially, do not understand craft. And if you're not to say craft
in the time, how you deal with what is it? Yes? What
is the examples of context? This is your statistic ex termines? How even
you whether we in West Africa for sank did you West Africa? What role
does leg play in a game between energy Western world scrap? If that means
how you struct problem? Basically how you structure the country? You know?
So if you look back at this and called didyl osperity, this happened to
govern us and tell me what subject stupid and not polically we leave more or
the recaclary for also us and we can come I said the time this is
so this no, they is for a reason. If you don't have the
need to borrow money, then we cannot tell you what conditions or has to
put your column. But we run, you know, and then we scream
at their conditions. So that that's the problem. So I can look by
seeing that if if your house is in discorder, you can't really blame the
snliness outside of your case for the problem you have in house. Or to
begin to think stays have to begin to think tibut to people who are running
our affairts like what is happening here? Heres? Like you you know that
you cannot do you want people, if you will want to be we to
sacrifice me to serious man that people run your initials. You can't blame anyone.
Thank you, sir, Thank you, sir. Thanks listening, Zacha
exactly where you're coming from. I'm coming from your excellent You've got the floor
go for all right. First, I want to thank you. Understand that
I'm getting myself on the economics. Thanks to you for this. I want
to point this week problem. It's who would not have anybody to problem?
Prom is just we get this loan, mismanage it and we have to live.
Take them of the room. Then the people that are supposed to speak
out, they don't steak out, and at the end blame the people that
are we to get this all. I don't know if you're that so they
take class. Solution is we as a people have to speak up. We
have to speak of to our leaders. We have to speak of a come
from the solution assets. I I don't want to blame oh if I am,
because clear leaders to bi them. You come to if if you come
to anyone to take a look, if you have to live with your friends,
they are bigness their money making organizations. So if you go the responsibility
to tell you how to make use of your money, that would like that
interests so they give you, get them to put them it just in a
way get their money back. So I believe this is two points I want
to look is what we as people need to understand. That's one the leaders
are to make decisions on our behalf and we have to put them in order.
We have to correct them. I like what sched that people are doing.
Seriously, I like what they are doing. This is a decime.
No, no, it's time for people to write to leaders and helping this.
You're doing this if you're thinking this noon and you're ready not spoking.
We are taking this because who wants using for your personal development? We will
ain't. It also spans the period of time should be tend to see this
loan to be able to hold people make dount to this what was it used
to? So it is interesting we don't do that, they keep doing giving
them should not believe anyway. That's all nothing more to say about I am
to believe. I believe organizations to keep you interesting. Thanks engineering. It
doesn't make sense, young guys. IMF world banks are polices around this,
more national institutions. I mean it would see what's happening. I'm in Nigeria
and in Africa. Let's put this narrative that I am is here to,
you know, put Africa down instead of the English past conditionality that you must
take if you want to borrow. And those conditionises are designed to extract efficiency
and resource from the host economy to be able to start to repay so the
commercials can then come back. You go to IMF where you are in trouble.
You don't get into trouble. You get a point in trouble and you
go to the I But I'm that pushed in trouble. Just put that context
out there for folks. Equals your stuff. Where is you gentlemen? And
you're saying school, thank you? Oh? I say that the people departments
and I am are the troubles. The people have responsibility to hold your man
Accountact department has responsibility to manay the resources of the people. Okay, And
I am then has this school I'm gonna does not exist in solution, just
like an organization has exclusive before I give the country. They have to come
into agreements with the country and then they will discuss on how this country is
going to overcome the problem for which it is seeking financial assistance from the Okay,
this is why I said, I am, this is part of the
problem because I miss, I don't have a gain knowledge tier for twkey years
and they are saying this discuss questions. They have the data. This is
everything they can see clearly. Every other person now it would have been giving
them to the country, and you are saying that they're not pleasing those rules.
You are seeing in this is. You're seeing the data, you're seeing
the inflation. You're saying about this is and you have responsibility, as I
am, to make sure that these countries you're giving loon to get address the
problems with killing low. So anybody that's coming here and telling us that a
problem, it's basic. We're not gelling at the truth. Okay. EM
has its own responsibility. It's just like everyone, even bang and a company
approaches for your loan. I know that the country has been back up several
times. Are a going to give the company? The company was a mess
of the not so police. Usually loan you have to do that I did
really have not the dean and for a number of times, I don't think
the responsible confessional decision. Will you loan because I'm not giving grants you That's
why I said, I am it is the problem. You know your time
is almost I thank you guys just for that should come to country people trying
to know their cod ended up people. All right, we're gonna interesting people
ship, all right, oxy all go for it. Some of how do
you lose your mic? Some of that just love to my yeah, okay,
like go ahead and okay, okay, thank you said so my my
ye, how I am sayah, business you know development and every business to
you know form to provide for quant for people that are from what a big
over parenting has a really less you go back, I will give you the
commodition or their cap presa if you don't miss condition whatever the condition is about
products. So the work back. Let's well, let's be overlos can atutionaf
already do you say right? We had an applises applies that the US able.
You know you're not wanting a column by virus party. It was in
the end you know what it talks is that sous so once was that once
you have teaching you Yeah, because that's that I say, that's a really
grow So even the experiences to get in Africa, I really you know,
you don't go. You don't want to be there. You know they give
you and maybe two or it is a very fast for you and and you're
not whups and ex conditions they are said after said I see Africa, they
glow member. So so they're taking you from what go back that I am
like my voice is they say press probably produm if you are ready to bet
that that's what you mean you get you know, so the problem is known
as let's not sit down there blame. I would have a leadership from them.
Remember I am to give you what the hot that you have to spend
it over there by you connect to qualify you of them. You can't decide
to use to buy an aircraft, well I don't know how. I don't
know how to what is see what you are supposed to use that can use
it in there either gos college or or and they have awful over what happens.
They first fans maybe software or maybe finansos or technology from somewhere. That's
that's what that's what's doing Nigeria. Some fans who not hand you go back
useful fascia that you're just study commit to background. Okay, you want to
to do? You want to be in a can you want to do?
When they'll go through Matamas, they will be to ship, the company will
be the sheep, you know, do all the things that they want to
make them. Also put the car you don't yal you are and you start
satisfying rowing they can involved and what sage to help you to do these reasons
you want to do? So then it is not really and let me let
me try to read between the lines. Frank Briker Junior was here, but
let me try to live between his lines. When you have the administration that
had quality on the playing field, those are offers that we're not taking.
Now. It's almost like every week I open a paper, I see a
new long as a new one for humanitarian. I believe that we're borrowing money
in dollars to get Myra and I don't know what was taking. I don't
mind it if Nigeria borrows a billion dollars an actualitics twenty five town on Ira
and actually gives you poor people to go out country to buy better than it
honestly or syllablis charity. I would not mind. The problem is that the
poor people are not getting that fi thousand, the money to buy. That's
the problem. If that money has actually go up to the villages in my
village, in your village where they have four people, and those people who
consume, that generates demand that creates jobs in factories in the cities, that
then creates wealth, so that borrowing, you know, translate into economic activity.
You borrow do as five fully million dollars you give people in that joy
to spend oo. See right now, doesn't take about your village and think
about if somebody in your village gave every poor person in your village every month
twenty five thousand in your they just take your mind back to your plage.
What is it up to your village if everyone yours, if I it with
five thousand, how is their food there? Air kids go to school,
they will buy in your clothes, they will buy food, they'll buy TV.
Look at a demand that would call in those villages would not have to
build the go because the village now now has people that can spend. So
a cur color was saying let's put a small the usual center near Afford Cura
Cola. They can afford the sailer. They can afford that, so you
would actually see a stimulative effect on that borrowing. Oh, we gonna do
it. The money is taking the lady that to them, this is not
ruble bility, Yes, he has said. The recombat nearly fifty billion from
the twilities, Yes, is not ruble okay combat The body pleased that The
body was saying, legally, why there is jail today? The risky that
was spraying bloods in Ki that was spraying spraying is he's all marror. His
fraid is he's in jail. You recoverb fifty billion from tillities were they you
know invertation place? So making my money in the point is very simp we
have In the UNI seven night which was final with one of the he said
that the money most directly into into that pot. So maybe my ready,
what I remember that is to do to I say this attle this money you
know elsewhere, wise we will not keep you. I either aptitude to spend
or whatever they're like. It looks to me like, you know, Colonias,
you don't want to Also, you know you know because used that to
account and targeted to watch project I can go to stick with that. Listen,
Jack, you've got the floors. Thank you the box name Jack too
much everyone because it's very weakly. I think that you know nineteen beautiful,
but with every other person you know said ourselves as people, as the people.
Oh for me, I will not pay any national organization. That's not
a phasing for a little bit. You know. The lights of the point
is very simple. I think we don't just lacking the ship. We also
like fast one and then we have sighted people you know this country, particularlydos
that are founders. That's gonna be let supposition. You see. I I
other day I shout about the family that there is no country in this in
the world that can operate the that not procurement laws, the system we operas
in an idea long afford. It's not possible. I mean, how do
you run a country that contrast attacking thought by one understand that nobody's talking about
it. We have too many great people deter everywhere. People really don't care
about it's going to be really like everyone, they just want to see what
they can get off the country. And this is not just a point for
the government. It thinks that they go to the local government every single personal
in life, even in summer. So when you won't look about the those
people, let's evolve the loose the discuss you know, the the resourcesful generates
in papery as a leisure here from uh you know, the the money toy
way from group and you know customs bands, you know they Someone was talking
about the stabilities that we're not reportant, you know or going into the intercreationional
account the eng area. But I don't know how true that is when you
look at megy the this shop top, like will we operate this thing?
All go on? And it's not sustainable. There is no way will move
forward like this and this is why and it's so off. So more concerned
about the kind of leadership we're going to do in the last election cycle.
I'm going to talk about. Look, if everybody is going to go here
and talk about you know, you know, if you were able to figure
leadership in this country and we are to get people that will be you know,
I mean, how could any any anybody any this country? Yes,
administration, people people actually get all right, I got you, I got
you. I want to keep the focusing not sliver. You know, I
wanted to discussing get leadership. Then we have just to wait a time.
That is not the point. Okay, all right, cats can'ts go for
it? Cats go for it everyone, Yes, sorry, fun financing this
stays to eat that will be as potential perspective or protect. The point is
that there is a need. So the country is already in a very bad
shape and it applies to the fund for financing in some cases contes that it
will be a bad shape. In the newsolitics and finance and of pieces and
the examples of countries that are successfully used on financing to solve a few PEO
programs, and I didn't see anybody pleased in the fund for in these countries.
So when you know, back in the fond when we have countries that
have not successfully us on finance and just for their PEP problems with the balance
of parents. Yeah yeah, yeah, the FUNDA is finances. That's the
gason why the funds finance now alike many countries, yeah, have those problems
arise on natural disasters in Africa and Africa. In natural Kenya, a big
problems are largely lost by facial and discipline and right. So when countries are
always going very backship going to the fund, but the funders that gives them
head from some physical headroom quite provide momen, then you then that they give
all adjucments that they would need to undertaken those problems. So when you blame
the food for a bad situation, to me, it just seems like understanding
of white fund exists. So what the funders and then financing those of the
financing of the fund prohaps Interestingly, two weeks ago there was a big bad
and also organized posically one of the impact organizations, and that's a lot of
device perfect ski ples gaming and defending dim right, So that's just yours have
if standing your decisions actually is perfect skin posing and defending the so you know,
people will so understand why their fences and why why is finances It's very
different from the world, but very different financing as balances problems and that's the
people who's why you finance. That's when country comes to diabect. It's in
the pactice and are just says that those things are all conditionalista really adjusting that
the country has to make in any case to care about those problems, so
so so we need to I think ed you keep ourselves on what the fund
does right and then as you know, help pers to know that you it's
excellent. Point is made right. I think we said at the top of
the space say that. Listen, you go there when you're in trouble.
Well, I want to ask it's only commented a long time ago, it
says out, Why doesn't it Why doesn't I am a public conditionalities? The
government trinity is expensive, the god I should not spend what based on pre
qualities? Why is it only like the subsidy side. PA decided you have
an excited to commit to find question right, I didn't pursuit that the government
of the government. And you also remember that these countries are sold to them.
You know it's not that stuffign is it in the country company says we
cannot because when you go to the iron it is you cannot get a load
anywhere else. So in quote unquote quote unquote, then you'll say quote unquote
maybe harsh word, but at that point of letting you, if you have
the power, you canna say you must stay this load. You cannot decrease
salaries, you cannot buy any private. Yet you cannot go for training tours
and things like that, even though it's even a spiorative or symbolic. But
why do you put it in there? Okay, pub financial management, right,
but at the end of the commitments and it's really for the government to
take ownership comments gotcha it said, I hear you. And just since you're
talking, paper like this final paper and it's called the Adjustment of Nigeria's Selected
Market Variables to the Iron Conditionalities from nineteen eighty six till twenty sixteen is done
by the Universitive of that's really investing, OCCA, by professional and Marcato and
call both of them did look at their finders. I am as controlsy has
no significant effect on GDP of Nigeria. I am a construnty has no effect
on gross CUP condition and I m F has no coportunity, has no simple
effect on national states of national economy. So effect that pipecting me why I
in the WRAN but try to remove the increase the eighty or sub today is
that's still living with that whole PSI framework for IMF. So okay, all
right, I'm not thinking that this. In the end, they they do
what they have on paper and then what led yous practice since sometimes diversions and
again I think it because the total gap in infrastructure. Because these guys,
I don't think you're they don't assume that the country as big as theirs,
as rich as Nigeria would not really move through by road which grow food by
rainfall and maybe just has no power supply its part in us. They don't
assume these states would be real that Nigeria surely would have moved on an gender
power. You know, it's it's amazing if you think about it. Well,
we live in Niger are used to it, but we run our power
with generators. You have to leave Niga for it for a long period of
time. So the stud that Nigeria is not a functional economy. You can't
run an economy with generators. But the Nagina standard practice was it deils genital
big four giant generators for every institution. The presidency neper be sure that everybody
has to night. Everybody yes to the point that I'm a finance and enable
the country. So it's not in its violence of well ta okay, well
taken point for to take care. Let me let let's get Muhammed, Mohammed
and a lot of times handy man a real bait. But Mohammed and you
got the floor. Stuff is go ahead, can pre share those comments very
very well taken. Go ahead, Mamma, mamma and Lena speak about not
letting you so let me move from some people. Some people Mommed if you
if you get us all, just put you back. And some people you've
got the floor, okay, we Hammed, go for it. You can
speak, good for it. I couldn't hear you, still can't hear you,
all right, that's gets uh the around martage media, viral media.
What I have to say is this, I can't completely blame IMF and gold
Bank, but in the way I can still blame them as well. Blaming
the IMF is like seeing the gambler and believing the patent company for them.
You understand the gambler has the responsibility of petting and you know responsibly yeah yeah,
oh. In that case, I can't completely blame IF. But the
Christian is this, Who's to pay from the downfall of those that are playing,
that are following the morney, which is mostly more than the old countries?
Who to believe? Who are those behind the IMF and World Bank.
Who are he wants in control? You understand. So we need to look
at the the better factors of these rules that are being placed onto the countries
that grow a lot of money. So when we look at that to be
able to understand the situation better. So for the solution, I think the
solution is on boots, the people and the leaders because when if I talk
to have made Igerians and I kind of see the rationalized the kind of leaders
that he puts into position, I know that we are not there. We
are not theirs because and have really Nigerian who first consider religion and ethnicity before
anything else. They don't even look at confidence. They look at the religion
an ethnicity, then the contest on common consum the moment we get to your
points where we can look away from religion and ethnicity, things we start to
change and people start to make the right decisions to putting the right people into
power who won't be addicts or gamblers, but people that enter and change the
system, into the system where you won't be dependent on experts, foreign age,
bolling and all the stuff. Thank you, gotcha, gotch sorry coming
if if you see gamblers. Almost all low income countries who are useful for
I give finance get finances from their answer. So the VE makes sure money
for them. So I think things is more. It's true, you know,
financing them is important because we don't go back to why im up is
created. I mean it's manly about the money. The iron up was created
because of the First World War issue. Second World War ensuing had a post
journey that high inflation that then led to this functional particular system that led to
the tenth right right. So the work that travels to say we want to
stop countries doing a picture evaluations they show killed the economy. So for them,
it's like if we can come in at the division that have balanced applemented
issues and sold there, then we have let's say lancers less so many.
That's what they're trying. Yeah, exactly. We mean that Nigeria's protistans could
say, because we don't have any money, what do the debut and I
have to ten thousand to one because we want to sell more cocoa. That
would be that find us We're rush Nigry to buy coco for Nentaria. I'm
not too cool for Organa because it's cheaper in Nigeria. But what will that
all call is that the cover in Nigeria will crash so much, I feel
like will rise off. There will be crisis. They will have to come.
I'm sending sixty TMS and costomer money. So that's what I mean is
trying to do. But you know, because they it's like when you have
my Laia, you take clue Quin Coquin is very very bitter, but you
have Maliia. That's I think that's really all right. You're right, I
appreciate that. Yeah, you're right. Okay, that's such augusting. The
guy's got my testimist to go to shut down the space. Right, great
topic. I'm learn a lot, Thanksgarres for being here. But about testiment.
So take all the convers get up at the music, you know,
learn that's what we do here on the floor, go for us. Thank
you so much. That's good information for me. But all those mad this
shore for some time, they also say the im is the body. They
have their roles to play. They will not force you to take those.
So as a country, you go to there, they don't give me that
conditions, just like they don't own banks who have been awa what you do
with the money. If you're editing in government, is your it's your own
cup of tea. They're not the babysits you Becauditions are called with those those
are normal. Just let banks in the Nigeria. But they want to go
to you and the conditions you don't have to take this money. Second,
i'm sure jating that today are also going from the iron seeing how demand that
will been there last say about the same mood I entered as perform and how
the intuition figures have come around. So basically it comes down to how manage
and sources in times no christ natural crisis like this. It's common sense.
You don't size cross so I don't think it's buying less to be epy so
much where they're borus make any sense to me and not blows them to the
Basically you keep saying we'll let it go together. This is this is a
lot of gay signs. I mean, people need to live well. If
it is well, yes you can come as a government and this is a
bad. It doesn't make any sense for me to studying lucious and buying jeeps
and buy a play that's what de pay. Of course, if you manage
it because don't know well and it falls around because people cracks you in care
where they're doing because they not the ones that was in future. To what
I always try to say, gods don't pay back to those people pay back.
So if the government borrows, it pays that. Yeah, identiinize is
the biggest borrower from the I am a testy one billion. That's what I
the time didn't have for but then got the incita. That president he's got
it. I mean you saw him on that jet. He was flying conventional
to go see his girlfriend. People said, oh, it's it's a strong
but it is the is the way he's he's communicated that. Listen, I'm
going to cost personally. So in my drea, we have the same inflation,
but we are buying in private. Yet the contrast could not be stronger.
Argentina has inflational yet you know the guy's flying commercial on a private basit.
But that yet we're also buying presention. We don't need a new presdential
jet. If the jet has has his part, actually should send the great
Oh we're not gonna spend on this jets. Take the money and put it
to a student lo and then do they have one big one that can go
int continental? There as all this small small private jet than will be in
an Africa. But they gave this ten we ab to mo wrapping it's too
much, or or convert everything to an airline and then put it commercially.
You have the man wants to fly, he takes his player and flies,
or what is not flying? If you do legal to Buja, make revenues
for the nation, That's what I think you You just give it to airpiece
or whoever's wrong. When man wants to fly, you can quite explain that
you fly combat, pay airpiece, airpiece to pay tax. We'll move on,
you know, let's just move on. Just just take it all that
after after Hassan mamas, how much you s welcome to the plane. So
I'm not appreciate you come it from. Yes, sir, I think you
about the play. Yeah, when is commisation on the trophic is or Africans
search? Well, yes, but I believe the African continent, the hot
medium control that situations so that if he's stopped and well managed, that you
can as far and get a value for aristoles. That doubt. It depends
on whether nation the greatest challenge. How is that policy construction? We need
to have politics at life and rather change the Futinuar Africans say have bottom billion
county continent. That's my take. I'm most like that you Yeah, most
like I got back what type explains that? Uh, in the African continent.
Were put on the continent that has one six So that's that each time
tween we can be cross pass continent and that's what I need. I agree
with you. So I said, I just wanted to borrow if we simply
because our house and older we're exporting, how about this will be broke because
I'm not broke. Completely agree with Yeah, content, Yeah, we bro
You know you've got the floor, go ahead and shoot. Okay, thank
you for your I've listened to polos. Because of multiple sides of this discussion.
Uh, for uh, the IMF cannot be seen. Uh it's okay.
So for me, the IMF cannot be saying to be a problem.
You know, it's just a lazy man's way of doing things. Uh.
You going into someone to get as alone is based on the fact that you
require the financial assistance at that moment. So if that person gives you the
loan, mood conditions. It is left up to you to decide to accept
or reject. So you cannot accept loans based on setting specified conditions then come
back afterwards and says and say the conditions are a problem to me, so
we should we should just drop that discussion. The IMF is not this problem.
I've also listened to our multiplesiblic A suf about our leaders being the problem
and our leaders that do not understand stakecraft. Yeah, so I would like
us to focus on bet on that. According to the Constitution of Nangiera and
most constitutions around or the security and warfare of the people should be the primary
responsibility of government. So if you have a situation where the country is unsafe,
people who cannot move around freely, people cannot see there is actually then
the government has failed. So if we're going to be looking for the problem
or even know the problem, the problem is the government also sensive government.
We're not gonna say, won't name the current government because what we are currently
is just a resubstance of several years of mismanagement. So the problem has been
leadership or this world. So we all know the problem, and I believe
it's quite easy to say to tell the solution exchanging political and geology or exchanging
police politician. I wouldn't want to make this space to political, but we
should just be clear with ourselves. No, if we won't get things done
right, we all have to get involved, like actively involved and determining political
outcomes. No, you need to get the right people in place. The
laws are the economic clause. The policies out there. If you go to
the presidential as, you have lots of policy ideas that have been drafted.
No, we just need people competent and willing to execute these policies. We
need people competent and willing economy close. So we shouldn't be dragging the discussions
from multiple sides. Simple, Yes, all right, that's out. Thank
you, You're welcome mono, Okay, thank you. Yeah, Hello,
mammy. Where you calling from? Yeah, yeah, I'm calling from New
Delia. Thank you for the opportunity. And I've been following this space very
wonderful and very insightful. I just have two things to share. Because of
the time I think I am AS or any other corporation that are you know,
assist in countries or rather in the you know, developmental side of things
shouldn't be played. The first thing is for any country, like you know,
every combination, have a decisive framework because of all the strategy of where
I'm taking the loan and you know they appropriate childs to you know, put
this loan to. Secondly is the issue of representation. You know, you
cannot have people representing you to you know, access the loans or whatever.
And number one maybe the eternity is to put into active. And secondly also
the you know competence. I've read in a book where you know, it
was clearly stated that you know, for organizations like i'm evers or in Africa,
you know, there's dispassion of you know, whether you know they're taking
advantage of the African countries and so on. But when you go through the
Asian side of the world for example, I've you know, stayed in China
and all that, they have a system of nutritiously you know, the viewing
or whatever it is that's put it to the table to them. For example,
you know, for corporations like I'm ever soon, whenever you want to
you know access you know firms or you know, loan or whatever you might
call it, they try to negotiate and make sure that they do the whole
terms of you know, a loan or the film they're trying to access,
to make sure that it aligns with the you know, frame of all the
policy of their own country. And they stay on the negotiation table to discuss
with they you know, I am a corporation, is that this is what
we're trying to achieve and this is what's there in your tougment. And from
there, you know, they can carry to you know, what best interest
in the country. At the end of the day, I'm like any other
you know, corporation also also have their own interests. They're not the charity
organization, you know, So this is a second thing and entirely you know
a lot of the people that are spoken have spoken about this is that you
know, when you're drown inside the water, someone of course you can help
your hand to throw you out and sometimes you know, all you have to
do is ground the hand and then after coming out you try to you know,
uh, save yourself from the crowning Dicky. But I think here is
where you know, you're a lot of the African countries to plan out the
previously. Thank you very much. This is more than you see this is
also it's uh, it's coming, you're gonna go you go. Also those
people that I'm India, I've love taken any final shot. Het Hi,
mister, I didn't hear you, but I don't care any other person can't
hear any Please, I can hear you. All just han't that India hasn't
taken any final Uh hello, all right, go ahead, go ahead?
This is Ebo? Was it? Ebon was speaking? He bore decern you
as who else? What about to go for a go ahead so I can
hear you. I'm here, sorry about that. Yeah, my mine was
he's gohad side, Okay, good evening, please, sir, I'll be
very big. I'm listening to the conversation and so far I was thank you
for this together. It has been very enraging and educative. There are just
three points. There are three points. I want to drop. The reason
why I am mephis off my scape good if I find me find me at
first, it's their existence. Some liberalization then stands on privatization, and there
is extends on balance physical plans, which is the man touched the touch from
them and don't like that, they say the reason Gurus, there's no nation
that doesn't have need for grow. But when you go to Guru, there's
a book its content our globalization and its dis context. It was our lives
today that when you go to Guru the I m F who is sister you
sign on? You signed to liberalization, privatization and austerity and these things of
from theytn are very bad for countries. So most of the time, this
is why the imf I I was ascribed to the argument that they don't end
up helping Africa countries because at the end of the day, we need to
grow and most of the time we have pads of payment problems because we the
structure, the industrial structure and the productivity is low. So we end up
going to them to grow. And when we go to Guru, they don't
the evondationalities they attashed, they don't help our economics, you know, to
moving the right direction. So I think they have been part of the blading
and the leadership, the structure of leadership and auditi leadership we have in La
boundaries also we take it part of it taking well. I mean the conditionalities
are basically reformed that you have to get the can come back to the part
of liquidity and creating revenues, not as the paper in the IMF, but
to put back your own external predators. I think that's valid. And if
you are broke is because you over spent all your reforms involved. Your structure
was spileful general worth. I think I am the first to more than block
that stipefulness. Sorry, you can't be so, Yeah, I think I
guess it did this ebon, We've got the floor. Quiet you wrong than
a little about saying about ten minutes to go guys, ive got the floor.
They want little ticket ticket evenings when we go into Is that the principle
of the Scotch Yeah, I can hear you. Ya get everyone out the
space. Yes, I actually came. It's regards to do I would yeah,
I would love its regards to the problems and the results, Yes,
I can hear you. I don't spos to hold the weak. It is
as a resource of this management of live resources that spoke to, of course,
and if they would automatic automatic automatically becomes a stable and that they will
set up because on the shouters African countries would have to advise by them.
But yeah, loans collected the African countries. You would want to ask You
would want to ask the nadrans the case and point us utilition shal recklessness and
in putlay by public officeholders of course, who would want to blame iron If
and late dans can afford milk and did they go ahead to buy they make
it propositions by exidential jets and special one to house close to one man that's
the vice president, and several other financials and ground and you would want to
also blame iron If for the the resents us at seeing out on all the
timeline we're our top racial has crossed over future percent for the first time.
All of this is supposed in place, really and of course you you don't
want to blame my ms when when you have several linkages in your in things
that should tell you endings in forests, forest things. Can you hear me?
Yes? And you got a little goo okay okay, And I lets
you I would want to happen something because I had someone said that personal King
of any saying something about the kings with the way they went house to protest
and stabs the short gross economy, and I was shocked to hear that and
also trying that to politicians and policism similar to any career as a medicaltel so.
And when you hear some statesmens and you will say the leadership is our
problem. Oh yes again followership opposed to become a major problem. Were there's
such opinion follow us and all the space. That's what that excellent guys because
they said two more that we're just found the space we've been here for fear.
I was appreciate everyone's going to speak. Uh, we've got to the
floor. I don't everybody need to team pleasure and privileged spirit to us because
mind is a solution. I think we did the way though what we tend
to look so much better the world lending directly thing. You know there's country
that conserved. But my situation is we we should look more towards the export.
If I personally am one of the best plain bangs, I cover South
South Africa, it's for the Desi violence and basically go fostain countries and I'll
tell you you know all the decas. It's for really biginess work with beside
the likes of the most latter around the ADS, the ETF and then TVB.
In East Africa, we don't have any strong one within Recycrica that's own
by recyclabbus and the same thing goes fast acred it. Let's just see the
regular we we see across Africa is the life you gave the French one BPI,
the Daladia one e DC. We don't see homegrown, homegrown UPBC.
So so there are yeahs. This is my stgestion. We can as a
wave on a home no matter how money who wants deceive ourselves as the people.
People like you have strong outreach, you can you can reach out of
your friends in the private center and let them look for people who can performs,
because that's simul the way we can blely financing the first FRAC development.
You don't want stuff that will help the people move the direction moto. Let's
let's look in at the version opens you further conversations in the future. I
mean, because I believe I don't want to science issue studies, original integration.
I can tell you for sure that that's the way to first Africans.
We should given to just the Nigerian storary. We will have them. We
will have the same. So the difficulties across West Africa and indeed across So
she's looking at integration is more realistic and full resources. Africa has a whole
those five percent of traits global traits, yes, of the world trade organsations.
So let's let's look iterations and don't come to people in the capital follows
government policy more like so, if the government has the polty that as rule
of laws protectional patents, the implation raised to know, you know, just
constructed environment, capital flows in. So the point I'm trying to make is
that there has to be that posed by because they want to attract characters are
coming to the country, right and that we want to double the devalue with
the depreciation denira to make it quote unquote cheaper for more inpact, do more
agree and disapprobay about saving the bush cultures, the samese that we we shouldn't
be looking at the Dreid dangerous excluded. But we let's see how we can
push the ratato from other countries to training. We have the you know,
the the guys that have been really gradual and the take generous pretty pretty the
same in terms of air force. You know, people like this can help
us mounts pressure on policy makers. And and then we were looking at the
story of the singing shanging in Rustle. I think we we can actually want
to with we coll operation one of let's look at the Dreid rooms. I
think that's the one. What what what do you want to look at?
What comes you look at? Sorry? What countries should look at? Uh?
Detuality? We do? What's that out? First? Present? Lots
of investments. So I for sure this year I'm away of about all six
dollars has been closet. I'm saying that I'm saying Nida should do, should
do better. We were we were making how much of what were in six
six seven percent people into in two thousand and three? Yeah, well being
with f people. Nigeria has been the only sub sahan African nation and the
j more bonding there there who won back box? We were losing markets,
not losing with loss, with lost. We lost the market, publishing the
market. Those guys for my Bractice position, every financing and the table,
everyone said, point is I think pushing policy. You and I know that
we should be pushing for integration in Africa. We can talk to and I
don't. I don't be a wet blanket. But if you if you go
on the road from Nigeria to toal just on the border Nigeria side teenty checkpoints.
The side has no checkpoints. The Nigerian roads are bad, then roads
are good. So in the end we have the best policies but actually has
to go do his job, which you don't have checkpoints tenenty checkpoints in Nigerian
side with bad rooms we should not have. But that's a problem we've got
to do. It's smooth from its smooth from okay, well, I don't
before this was selling the right labels and before the post. It's when you
came to when you came to the Senate that go down to the degree.
And it's funny you may not know this local want pills the world you have
from go don't know, well not entirely, but the backs from the back
and send yeh is the eighties. So im that'sial press. And I'm just
saying, let's not sleep money and think that because its the mess. We'll
just keep one. I find it and this is one of the first thing
that we can because here's someone than that. But I just think we should
take it upon ourselves and make it up ten years and making Happle because I
released active this key films. So if we see back. You know,
win policy, so we can push you know, we can only two way
and and that's trying. Yes, thank you, yeah, y'all I speak,
I saw you. So let me think the key post again from King
which I was some prefact once the way, they reallygious guys came up and
said it with spoblic kids they tribes. Wanna said, with support the kids
the costs, I said, with support of kids. Also, nowhere for
the positions to hide. They couldn't hide them, not try. They don't
handle out of the courts. They don't hide on their army. Everyone say,
with support the kids. I don't send the kids this out. They's
the final points I think we need when you need the vocals, we see
your team that got around us. So we we don't realize that people.
And that's why he be christ about that. Allright, we need these to
keep cool positions, all right, perfect perfect apologized if not suspey, there
was just no time. We're going to shut it down three hours. We've
been talking about the IMSH interventions in Africa, looking at the structural programs.
Well, but the history of it all, Where where is the ims coming
from? Are the bad local for Egeria, I mean the spaces. I
agree that it's not the imf per se, is the implementation and the honesty
at the competence of the local politicians, the Metermians. If I am at
policies work or don't work, they haven't worked most times in Africa and Nigerian
particularists. I've worked in Asia Asian crisis. I am up in the good
job there. So we really can't blame all those farms for We're going to
get act together if we are borrowing, which use those fund for what they
I am marked for developing the infrastructure, creating wealth within Nigeria for Nigeria so
that we can then be able to go back if possibly An attacks in Nigerians
to generally pay those two notes iron it's not split in my opinion. You
guys are also giving your own opinion. That's what the cope is all about.
We give opinions, we share and we learn. Thanks for being here
guys for nearly three hours. We'll be here again next week. Sit on
the topic we're talking about, of course, your money, your economy and
your finance and how that's going to be personal to you know other guys.
I'm an answer if you want to get my book, it's on an Amazon.
Let's talk about your money. It's all pestal finance during two years experience
US and America, from crypto to savings, to real estates to ETFs,
all in there. How you can do it in my simple language with pictures.
Are those like pictures? Another guys, I'll see you guys next week.
Keep it simple, give it simple. Guys. Have a good one.
Love your b