Oil Economies

Central Bank of Libya Statement on Public Finances  published on , 8 December 2014 -

An interesting read even though Libya is still a nutcase, however I trust Nigeria's GEJ,NOI,DAM and the central bank governor will be  reading this  -

 Nigeria's policy measure to contain the adverse effect of falling oil prices,falling foreign exchange  reserves and even lost revenue from crude oil theft to some extent is still lame.

While am not an economist, introducing tax on luxury goods,cutting down on government oversea trip etc I would say is just a  "flash in the pan".

If the government wants to really cut spending - start now and prune the over bloated  expenditure on the executive and legislative arms of governments federal,state and local council levels, and strengthen the institutions saddled with the responsibility to fight and reduce corruption (public and private).

If GEJ is re-elected or GMB elected,Nigerians kiss your beloved petroleum subsidy goodbye.

That's the real target to cut government spending - my take is, if subsidy can go and it should someday, then start the cut by cutting all the frivolous  spending, on and by government officials.

GEJ, President Goodluck Ebele Jonathan 

NOI, Ngozi Okojo Iweala  -Finance Minister 

DAM  Diezani Alison-Madueke- Minister of Petrolum

GMB  General Muhammad Buhari 


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