Voodoo economics: Buhari Administration looking at “option to sell assets and later buy-back those assets when situation improved” is insanity! – Tola Adenle

September 24, 2016


 ” The government is exploring several options in the asset sales proposal including repurchase options, which would make provision for buy-back of those assets when the situation improved”

Nigeria’s Minister of Budget & National Planning


By the way, Buhari should release the names of those who “have been willingly returning stolen money” with amounts against their names and let Nigerians have the total.

Udo Udoma, how much will Nigeria have to pay to “buy back” these assets when it decides to exercise its “repurchase option” and who has read the Nigerian palm as to how it would finance the buy back?

Sheer insanity!

While announcing that government “will not sell ALL assets”, Udoma might have given away the impression when one examines the finality of the wording of his press statement. It does appear the deed may already have been done and no amount of protests can change what had possibly been done before the theater of the absurd of the past week staged to deceive Nigerians was put on.

President Buhari is happy with his “change begins with me” which is on in earnest; Saraki is a very happy man; so is Dangote and/or his “be it Chinese”; so is Udo Udoma, Always Looking Scared & In Over Her Head Adeosun must be happy and, of course, States’ governors with fresh funds … until next time, Nigeria.

Once governors collect their allocations, salaries would still accrue; infrastructure that the president announced to the world were completely absent, et cetera would most likely still be absent … BECAUSE $10 to $15 billion is not really much when we talk about all the fancy things Adeosun claims whatever we realize from this unfortunate fire sale that has apparently happened FOR A COUNTRY.

What do we sell next: Nigerian masses would be sold during modern slavery?

“$10 or $15 billion to fund the 2016 BUDGET” with about three months left in the year spells great danger to the same economy Buhari & his men want to revive!

Can anyone spell p-r-o-c-u-r-e-m-e-n-t-s? It’s also called supplies in Nigeria.

The euphoria of mid-week that saw  a Central Bank Governor reduce what should be a sober submission by the country’s top financial institution’s head reduced to what I described as beer parlor language AND the Finance Minister let slip “Quick Wins” for the economy from the sale of their homeland’s china, can best be understood in these circumstances.

Why,  in the world, would feeding Primary 1,  & 3 be of great importance in a country that wants to find a quick solution to a recession? How could that feeding “mean a lot” – as Adeosun claims – to a parent, for example, with a child in one of those classes and two others in higher classes? Even a non-economist like me knows that if salaries are paid, parents can feed their children, and more important is the fact that government should not start a program which requires not only long planning but continuity once it starts.

Even as President Buhari keeps quiet on the sale of assets, Osibajo’s leadership of the economic team that includes all governors have told Nigerians loud and clear where Buhari stands: that any/all/whichever assets that would provide a quick rush for the rulers – like a credit card in the hands of a spendthrift – MUST BE SOLD.

It is a national calamity.

I will end this essay like the one preceding this but amending the title of  the post by Senator Sheu Sani’s opposition to the sale of Nigeria’s assets:

Dangote, Saraki, Others [who have apparently sold ] any Nigerian assets are economic predators”.

FG will not sell all national assets – Udoma

SATURDAY, SEPTEMBER 24, 2016. 11:50 p.m. [GMT]

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2 Comments on “Voodoo economics: Buhari Administration looking at “option to sell assets and later buy-back those assets when situation improved” is insanity! – Tola Adenle”

  1. emotan77 Says:

    Sep 25 (2 days ago)

    ‎I agree absolutely with you, Aunty. They are simply vagabonds, rogues in power! I hope Nigerian people would rise up in an unprecedented manner to resist this worst government in Nigerian history so far!

    If this is what the Nigerian so-called progressive politicians can offer Nigeria, then this country is doomed! But mass action, hopefully, would stop their madness!

    Femi Aborisade



    • emotan77 Says:

      emotan77 Says:
      September 27, 2016 at 4:26 pm e
      Thanks, Femi.

      I think Nigerians will act this time and not wait for the unions or other groups to do it while they wait for things to blow out because things won’t blow out, at least not before the masses and their families have been sent into the deepest penury.

      Can you believe the game being played by Buhari and his economic people on sale of national assets: yesterday, it’s sell-off these assets, today, it’s 5% of the purported 49% owned by government …

      If a strike is called, Nigerians – workers, market men and women, et cetera, must endure whatever sacrifices need to be made before complaints of “we cannot go to the bank …” start surfacing. Two weeks of total stay-at-home would bring any government – except the Asads of this world who care not if all their citizens are killed and all their homes and infrastructure are destroyed – to their knees.

      Nigeria will prevail but if those who want it otherwise except their way say ‘no’, we’d go our different ways.

      Sincere regards,



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