Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

Sunday, January 3, 2021

The Hatchet Job on "Lagos in Motion" Photo Book That Failed

The Hatchet Job That Failed

A fellow Nigerian went on Amazon Books to dismiss my photo book, "Lagos in Motion" that was selling for only US$3 and advised that  Amazon should not sell such a complete waste of money. I am sure he must have celebrated his hatchet job and waited for the book to be dropped. But the book is still on Amazon and selling for US$20 and others are selling it for more than US$32 per copy. And guess what! A book trader is selling the same book for US$404.00 (+ $ 111.39 shipping) a copy! 

https://www.amazon.com.mx/Lagos-Motion-Africas-Largest-Megacity/dp/1536934925

The intellectually ignorant Nigerian did not know why I published the photo book of selected photographs from my "Lagos in Motion" documentary film. It is to document the making of the documentary film and not to compete for the World Photography Awards or other competitions. The book is for the foreign tourists and visitors to see my positive images of Africa's largest megacity and not the usual  horrible living conditions of Makoko and other slums in Lagos state.

 

I was born and bred in this dynamic city that is one of the most resilient cities in the world and the dynamic economy has made Lagos the 4th largest economy in Africa.

- Ekenyerengozi Michael Chima.

Monday, July 18, 2011

Islamic Banking is Good for Nigeria

So much noise is echoing over the planned introduction of Islamic Banking in Nigeria, but making the loudest noise does not mean you are making sense or wise.

I have seen that the so called Nigerian Christians who are afraid of Islamic banking are just ignorant of the facts, because they have failed to read and research to find out the truth about Islamic banking.

The notorious North versus South dichotomy destroying the stability and unity of our common sovereignty is now threatening the prospects of Islamic banking in Nigeria.
It would be good if we separate politics from Islamic Banking and address the economic benefits to the masses of the Nigerian population.

There is absolute nothing wrong with Islamic Banking and far from the misinformation of the Nigerian Christian clerics, it does not translate to the Islamization of Nigeria.

Read the report on the Constitutionality of Islamic Banking by the University of Ilorin on
http://www.unilorin.edu.ng/publications/abikan/CONSTITUTIONALITY%20OF%20ISLAMIC%20BANKING.pdf

May I also recommend the report on Ethica Trains 100 American Imams in Islamic Finance published by Nigerians Report.


Tuesday, June 14, 2011

Secretary of State Hillary Rodham Clinton at African Union, June 13, 2011, Addis Ababa, Ethiopia



14 Jun 2011 14:15 Africa/Lagos




Remarks by Secretary of State Hillary Rodham Clinton at African Union, June 13, 2011, Addis Ababa, Ethiopia

WASHINGTON, June 14, 2011/African Press Organization (APO)/ -- Remarks by Secretary of State Hillary Rodham Clinton at African Union, June 13, 2011, Addis Ababa, Ethiopia


SECRETARY CLINTON: Good afternoon. It is a great honor to join you here in Addis Ababa and to address the African Union. I want to thank Chairperson Ping, members of the African Union Commission, ambassadors to the AU, representatives of United Nations agencies, and, most of all, representatives of the nations and people of Africa. Thank you for the opportunity to be here with you. It is good to be back in Africa, and it is a singular honor to address this body.


During the past few days, I have traveled to Zambia, Tanzania, and now Ethiopia, meeting with leaders and citizens who are rising to meet challenges of all kinds with creativity, courage, and skill. And I am pleased to come to the African Union today as the first United States Secretary of State to address you, because I believe that in the 21st century, solving our greatest challenges cannot be the work only of individuals or individual nations. These challenges require communities of nations and peoples working together in alliances, partnerships, and institutions like the African Union.


Consider what it takes to solve global challenges, like climate change or terrorism, or regional ones, like the African Union's work in Sudan and Somalia. Your efforts to end the brutal campaign of the Lord's Resistance Army, your push to create a green revolution for Africa that drives down hunger and poverty, the challenge of helping refugees displaced by conflict, the fight against transnational crimes like piracy and trafficking: These are diplomatic and development challenges of enormous complexity. But institutions like this make it easier for us to address them, by helping nations turn common interests into common actions, by encouraging coalition building and effective compromising, by integrating emerging nations into a global community with clear obligations and expectations.


That is why, as Secretary of State, I have emphasized the work of regional institutions throughout the world, in Latin America, in Asia, in Europe, and in Africa. Now, regional institutions, of course, may differ, but increasingly they are called upon to be problem solvers and to deliver concrete results that produce positive change in people's lives.

To solve the problems confronting Africa and the world, we need the African Union. We also need Africa's sub-regional institutions, all of whom must help lead the way. Because the results you will achieve will shape the future, first and foremost, of course, for the people of Africa, but also for the people of my country, and indeed for people everywhere because what happens in Africa has global impact. Economic growth here spurs economic growth elsewhere. Breakthroughs in health research here can save and improve lives in other lands. And peace established here makes the world more secure.


So the United States seeks new and dynamic partnerships with African peoples, nations, and institutions. We want to help you accelerate the advances that are underway in many places and collaborate with you to reverse the dangerous trends and encourage political, economic, and social progress.


Today, I'd like briefly to discuss three areas, which are areas of emphasis for you and for us and where I think we can make particular progress through regional institutions like the AU. They are democracy, economic growth, and peace and security. These are, of course, the core areas of focus for the African Union, and that's for a reason. All three are critical for a thriving region. All three must be the work both of individual nations and communities of nations. And all three present challenges, opportunities, and responsibilities we must address together.


First, democracy. Let me begin by saying this is an exciting time for African democracy. More than half the countries in Sub-Saharan Africa have embraced democratic, constitutional, multi-party rule. Now, some, like Botswana, Ghana, and Tanzania, have spent decades building strong institutions and a tradition of peaceful, democratic transitions. (Interruption to audio.) When things like this happen, you just keep going. (Laughter.) (Applause.) Now, those countries that I mentioned are models, not only for their neighbors, but increasingly for countries everywhere.


Other African nations have been also making important advances. In Nigeria, President Jonathan was inaugurated 15 days ago after what many have called the fairest election in Nigeria's recent history. Benin and Malawi both held successful elections this spring, building on previous successful multiparty contests. Kenya's democracy got a boost from last year's referendum on its new constitution. The vote took place without violence, and the constitution, which includes a bill of rights and limits on executive power, passed by a large margin. Niger and Guinea, both of which endured recent military coups, held successful elections in the past year. And in Cote d'Ivoire, the crisis that followed the 2010 elections was finally resolved two months ago with the help of the AU, and the elected winner is now serving as president.


These are just a few examples of Africa's recent democratic gains. A complete list would fill all the time we have today. In several nations, the institutions of democracy are becoming stronger. There are freer medias, justice systems that administer justice equally, and impartially, honest legislatures, vibrant civil societies.


Now, much of the credit for these hard-won achievements rightly belongs to the people and leaders of these countries who have passionately and persistently, sometimes at great risk to themselves, demanded that their leaders protect the rule of law, honor election results, uphold rights and freedoms. But credit is also due to the African Union, which has prohibited new leaders who have come to power through military rule and coups from being seated in the organization. The AU and Africa's other regional institutions have also played a pivotal role in ending crises and creating the conditions for successful, democratic transitions, with the AU's work to monitor elections being an especially important contribution.


But, even as we celebrate this progress, we do know that too many people in Africa still live under longstanding rulers, men who care too much about the longevity of their reign, and too little about the legacy that should be built for their country's future. Some even claim to believe in democracy – democracy defined as one election, one time. (Laughter.) (Applause.)


Now, this approach to governing is being rejected by countries on this continent and beyond. Consider the changes that have recently swept through North Africa and the Middle East. After years of living under dictatorships, people have demanded new leadership; in places where their voices have long been silenced, they are exercising their right to speak, often at the top of their lungs. In places where jobs are scarce and a tiny elite prospers while most of the population struggles, people – especially young people – are channeling their frustration into social, economic, and political change.


Their message is clear to us all: The status quo is broken; the old ways of governing are no longer acceptable; it is time for leaders to lead with accountability, treat their people with dignity, respect their rights, and deliver economic opportunity. And if they will not, then it is time for them to go.


Every country in the world stands to learn from these democracy movements, but this wave of activism, which came to be known as the Arab Spring, has particular significance for leaders in Africa and elsewhere who hold on to power at all costs, who suppress dissent, who enrich themselves and their supporters at the expense of their own people. To those leaders our message must be clear: Rise to this historic occasion; show leadership by embracing a true path that honors your people's aspirations; create a future that your young people will believe in, defend, and help build. Because, if you do not – if you believe that the freedoms and opportunities that we speak about as universal should not be shared by your own people, men and women equally, or if you do not desire to help your own people work and live with dignity, you are on the wrong side of history, and time will prove that.


The United States pledges its support for those African nations that are committed to doing the difficult but rewarding work of building a free, peaceful, and prosperous future. And we look to institutions like the African Union, that are dedicated to democracy and good governance, to continue to encourage countries to walk that path or risk isolating themselves further.


Now, of course, creating the conditions that allow people and communities to flourish in a democracy cannot simply be a matter of holding elections; they are a necessary but not sufficient condition. Good governance requires free, fair, and transparent elections, a free media, independent judiciaries, and the protection of minorities. And democracy must also deliver results for people by providing economic opportunity, jobs, and a rising standard of living.


Now, here, again, the map of Africa is lit up with success stories. Six of the world's 10 fastest growing economies in the last decade are in Sub-Saharan Africa, and that percentage is expected to grow in the next five years. At a time when investors everywhere are hunting for promising new markets and worthy new ventures, Africa is attracting attention from all corners.


But a prosperous future is not guaranteed. Several of Africa's highest performing economies are dependent on a single industry or a single export, often a commodity, which we know can have both good and bad consequences. It can discourage the rise of new industries and the jobs that come with them, and it can concentrate a nation's wealth among a privileged few. Meanwhile, even while growth rates skyrocket in some countries, in others they are rising too slowly and it can take too long for growth on paper to translate into jobs that are spread across a country. But it is this desire that is especially urgent among the youth of Africa that cannot be ignored.


When we saw the uprisings first in Tunisia and then in Egypt, they were about both political change and economic change. Too many young people said they had studied, they had worked hard. The tragic story of the young vegetable vendor who finally, in great frustration – because no matter how hard he tried, a corrupt regime would not give him the chance to have the sweat of his brow translated into economic benefits for himself and his family. More than 40 percent of the people living in Africa are under the age of 15. It rises to nearly two thirds if we look at under the age of 30. These young people are all coming of age at once and they are all connected. There are no more secrets because of social media, because that incredible technology can inform a young person in a rural area, where there are no roads, but there are cell phones, what is going on in his capital or in neighboring countries.


Creating jobs and opportunity for these young people is an enormous challenge, and one that I know the African Union is committed to addressing. Your summit later this month is focused on youth empowerment for sustainable development. You are right that young people must be brought into this work themselves, otherwise your hardest working, your best and your brightest, will either be frustrated and act out against the leaders of their country or they will leave to find opportunities in other lands. After all, the people who are speaking out most passionately across Africa are doing so with an eloquence and an advocacy that should, as the older generations, make us proud. These are young people who want to make something of themselves. All they need is the chance to do so.


Countries such as Zambia, Mali, Ghana, and Rwanda have had strong successes with their approaches to development. They have diversified their economies and created jobs across many sectors, which has helped to decrease poverty. They have continuously reinvested in the foundations of their economies, building roads and power plants and expanding access to financial services so more people can start or grow businesses. Based on lessons we've learned from our work around the world, the United States wants to deepen our partnerships with countries that take a broad-based, inclusive, sustainable approach to growth.


Now, I will be the first to admit that too much of our development work in the past provided only temporary aid and not the foundation for lasting change that helps people permanently improve their lives and communities. But the Obama Administration is taking a different approach. Our goal is to help countries' economies grow over time so they can meet their own needs. Ultimately, we believe that the most effective development programs are the ones that put themselves out of business because they spark economic activity, they help create strong institutions, they nourish a private sector that, unleashed, will create more jobs.


And at the same time, we are asking our partners to do their part. How? Increased transparency, strengthen tax systems, fight corruption. Every bribe paid to a customs official or a government employee represents a hidden tax on the cost of doing business and a drag on economic growth. We are making this a priority in our diplomatic engagement, and we look to our partners to take concrete actions to stop corruption. One of the possible benefits of technology is doing what's called electronic government, e-government, putting government services online so you don't have to go through so many hands to get that permit to start a business. And we are encouraging and will work with countries interested in pursuing that kind of opportunity.


We're also putting a new emphasis on trade. I spoke about this a few days ago at the AGOA Forum in Lusaka. During the past decade, Africa's non-oil exports to the United States quadrupled, and we've only begun to tap the potential. We can and we will trade much more with each other. In fact, we are establishing, with a $120 million commitment over the next four years, trade hubs to help businesses write business plans; to learn how to market their products; to get the kind of technical advice that would not be affordable for a small or medium-sized business.


Trade should not only, however, increase across the ocean or the sea to Europe and the United States. Trade has to increase across this continent. There is less trade among the countries within Sub-Saharan Africa than within any other region in the world, and yet there are consumers and there are producers, but there are barriers – tariff barriers, non-tariff barriers, longstanding suspicions that have to be overcome in order to take advantage of the economic engine that Sub-Saharan Africa can be.


I commend those countries and institutions working to accelerate economic integration, such as the East African Community. And last year, the United States became the first country to nominate an ambassador to the EAC, and we are pursuing a partnership to help build a customs union and a common market. And we applaud the efforts that began with the meeting in South Africa, last week, to discuss a tripartite free trade agreement that will lower trade barriers across dozens of countries.


And the vision of an African common market is worth pursuing. This approach is reflected in our Millennium Challenge Compacts, which form partnerships with developing countries devoted to good governance, economic freedom, and investing in one's citizens. You can see it in our Partnerships for Growth Program: We picked four countries in the world that we thought could put all the pieces together, and two of them are in Africa, Tanzania and Ghana. These nations have made strong commitments to democracy, to their own development progress, and we're stepping up our economic relations with these top performers.


Another example of our new approach is our Feed the Future food security initiative. We're investing $3.5 billion in 20 focus countries, including 12 in Africa, to revitalize agricultural sectors so you can increase food production and availability, raise your farmers' incomes, decrease hunger and under-nutrition. And through the Feed the Future, we are supporting the AU's Comprehensive Africa Agriculture Development Program, which, we think, has laid the foundation for more effective agricultural policies across the continent. By investing in agriculture and strengthening nations' food security, we will see economies grow and stability increase.


There's another important element of sustainable economic development, and that is improvements in health. Right now, several African countries are making great strides in bringing life-saving health interventions to more of their people. Zambia has significantly reduced mother-to-child transmission of HIV. Nigeria has made great progress in fighting polio through renewed vaccination efforts. And Ethiopia has mobilized an army of 30,000 health workers to bring a basic package of care to remote regions. We are backing these kinds of improvements through our Global Health Initiative, which supports country-led programs and helps countries unite separate health programs into one sustainable health system.


So we are combining our efforts through PEPFAR, through AID, through CDC, and other U.S. Government approaches, because we think health is a critical element of a nation's security. When epidemics are prevented from occurring or ended or controlled quickly, when people can get life-saving care when they need it and return to their jobs and their lives, families are stronger, communities are stronger, and nations are stronger.


And finally, when it comes to economic opportunity and development, we must empower the continent's women. The women of Africa are the hardest working women in the world. And so often – (applause) – so often what they do is not included in the formal economy, it is not measured in the GDP. And yet, if all the women in Africa, from Cairo to Cape Town, decided they would stop working for a week, the economies of Africa would collapse. (Applause.)


So let's include half the population. Let's treat them with dignity. Let's give them the right and responsibility to make a contribution to the 21st century of African growth and progress. And the United States will be your partner, because we have seen what a difference it makes when women are educated, when they have access to health care, when they can start businesses, when they can get credit, when they can help support their families. So let us make sure that that remains front and center in the work we do together.


And finally, let me address peace and security. In recent years, a quiet storyline has emerged out of the security challenges that have developed on the continent. More and more, the African Union and Africa's sub-regional organizations and African states, working alone or in concert, are taking the lead in solving Africa's crises. In Somalia, AMISOM, the African Union's peacekeeping mission, thanks to heroic efforts by Ugandan and Burundian soldiers, has helped the Transitional Federal Government make remarkable security gains in Mogadishu over the past couple of months. Al-Shabaab, an affiliate of al-Qaida, is finally on the defensive, and we see that because they are increasingly resorting to suicide bombers and the targeting of civilians, a sign of desperation.


Now, we expect Somalia's Transitional Federal Government to create political and economic progress to match AMISOM's security progress. It cannot continue operating the way it has in the past. We look to the TFG to resolve their internal divisions and improve the lives of the millions of Somalis who continue to suffer, and we know that the AU will be their partner in doing so.


In the Democratic Republic of the Congo, we remain concerned about the continued violence against women and girls and the activities of armed groups in the eastern region of the country. Every effort by the AU and UN will be necessary to help the DRC respond to these continuing security crises.


And then there is the situation in Sudan: South Sudan is less than one month away from becoming the world's newest state. And the governments of Sudan and South Sudan have made laudable progress in implementing certain provisions of the Comprehensive Peace Agreement. But recent developments along the border, particularly in the Abyei region, are deeply troubling. The parties must resolve the remaining CPA issues peacefully through negotiations, not violence. And again, the African Union has played a critical role in facilitating negotiations in Sudan. And I also want to thank the prime minister of Ethiopia, our host country, for everything he has done and is doing as we speak today.


I will have the opportunity later this evening to meet with representatives from both the North and South to add my voice and that of President Obama and my government to the chorus of voices saying the same thing: Resolve your differences, settle the problem in Darfur. And we got some good news out of Doha today that we hope will translate into real progress. But come together and make it possible for both of these countries to have peaceful, prosperous futures.


And there is, of course, another country whose security matters to all of us, and that is Libya. Libya has been the subject of many of our discussions during the past few months. And I believe there is much on which we can agree. There is little question that the kind of activities that, unfortunately, have affected the Libyan people for more than 40 years run against the tide of history. And there is little question that despite having the highest nominal GDP in Africa, thanks to oil, Libya's wealth was too concentrated within Qadhafi's circle.


But of course, all the countries here are not in agreement about the steps that the international community, under the United Nations Security Council, have taken in Libya up to this point. Having looked at the information available, the Security Council, including the three African members, supported a UN mandate to protect civilians, prevent slaughter, and create conditions for a transition to a better future for the Libyan people themselves.


Now, I know there are some who still believe that the actions of the UN and NATO were not called for. And I know it's true that over many years Mr. Qadhafi played a major role in providing financial support for many African nations and institutions, including the African Union. But it has become clearer by the day that he has lost his legitimacy to rule, and we are long past time when he can or should remain in power.


So I hope and believe that while we may disagree about some of what has brought us to this place, we can reach agreement about what must happen now. For as long as Mr. Qadhafi remains in Libya, the people of Libya will be in danger, refugee flows by the thousands will continue out of Libya, regional instability will likely increase, and Libya's neighbors will bear more and more of the consequences. None of this is acceptable, and Qadhafi must leave power.


I urge all African states to call for a genuine ceasefire and to call for Qadhafi to step aside. I also urge you to suspend the operations of Qadhafi's embassies in your countries, to expel pro-Qadhafi diplomats, and to increase contact and support for the Transitional National Council. Your words and your actions could make the difference in bringing this situation to finally close and allowing the people of Libya, on an inclusive basis, in a unified Libya, to get to work writing a constitution and rebuilding their country. The world needs the African Union to lead. The African Union can help guide Libya through the transition you described in your organization's own statements, a transition to a new government based on democracy, economic opportunity, and security.


As we look to the future, we want to work with the African Union not only to react to conflicts and crises but to get ahead of them, to work together on a positive agenda that will stop crises before they start. And I think we can find many areas for collaboration.


On youth engagement, which is a priority for both the AU and President Obama, we seek to pursue a specific work plan with you. On democracy and good governance we already work together to monitor elections across Africa. Now we need to do more to help countries strengthen democratic institutions. On economic growth and trade the AU plays a major role in building Africa's sub-regional architecture, and we stand ready to support you.


So I want to commend Africa's institutions for what you have already accomplished, and in some cases, just a few years after your creation. And I will pledge my country's support as you continue this work. Whether you seek to deepen the integration among your members, improve coordination, or reform your operations, we will be with you.


A good example that the chairman mentioned is what we can offer in the work we are doing to help reform the UN's support for the African Union here in Addis Ababa. The UN and the African Union asked the United States to identify ways their work together could become more effective and strategic. We said yes, and now there are people at the State Department focused on this issue working closely with many of you in this room.


And as has already been announced, we are rejoining the UN Economic Commission for Africa, another sign of our commitment to engaging with Africa's regional institutions. (Applause.)


On this trip to Africa, I am reminded every hour that for every challenge now facing Africa, a solution can be found somewhere in Africa. (Applause.) You do not have to look far afield to see political, economic, and social success.


Earlier I mentioned the Arab Spring, a name that suggests the blossoming of something new. And what is now blooming across the Arab states has already taken root in many African nations, commitment to democracy, recognition of human rights, investment in economic health and education programs, and an emphasis on meeting the needs of our young people.


Across this continent the work is underway, but there is a long season ahead. So I urge you not to be impatient; do not grow weary while doing good. Keep showing leadership. Keep building a path to a future worthy of the talents and aspirations of the young men and women of Africa. The United States believes deeply in these values. We believe passionately in the promise and potential of pluralistic democracies, of free markets. We welcome to our shores immigrants from every country represented here, and we can see the success stories that so many of them have built in the United States. But I have never met an immigrant from Africa who has not said he or she wished they could have done the very same in their own country, among their own people, close to their family, eating the food, smelling the flowers, seeing the sights that are in their blood. I want to see that for Africa, where people are coming home to Africa because this is where opportunity for the future resides.


Thank you and God bless you. (Applause.)


Source: US Department of State


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Thursday, May 19, 2011

Half of Americans Unlikely to Vote to Re-Elect Barack Obama


President Barack Obama's killing of Osama bin Laden is not enough to re-elect him

19 May 2011 16:19 Africa/Lagos


President Obama's Job Rating Unchanged Since Early May, but Half of Americans Unlikely to Vote to Re-Elect Him

Employment/Jobs and the Economy still most important issues for government to address

PR Newswire

NEW YORK, May 19, 2011

NEW YORK, May 19, 2011 /PRNewswire/ -- While President Obama's job ratings may not have changed much from the gain they saw after the death of Osama Bin Laden, there are some shifts the White House probably should worry about as they pertain to his re-election numbers. Currently, 45% of Americans give the President positive ratings for the overall job he is doing while 55% give him negative ratings. Earlier this month, right after the death of the terrorist leader, 46% gave President Obama positive ratings and 54% gave him negative marks.

(Logo: http://photos.prnewswire.com/prnh/20100517/NY06256LOGO)

There are two groups that give President Obama higher ratings. Among regions, 54% of Westerners give him positive marks compared to 40% of Southerners, 42% of Easterners and 44% of those in the Midwest. Almost two-thirds of those with a post graduate degree (64%) give the President positive ratings as do 49% of college graduates and half of those with some college education (50%) while just one third of those with a high school diploma or less (34%) give President Obama positive ratings.

These are some of the results of The Harris Poll of 2,184 adults surveyed online between May 9 and 16, 2011 by Harris Interactive.

Congress, which did not get much of a post-Osama killing bump, also hasn't seen their ratings change much in the past two weeks. Earlier in the month, 13% of Americans gave them positive ratings while 87% gave them negative ones. Now, 12% of U.S. adults give them positive marks while 88% of U.S. adults give Congress negative ratings for their overall job.

Also slipping downward slightly is the direction of the country. Just under two in five Americans (38%) say the country is going in the right direction, down one point from earlier this month. Slightly over three in five say the country is going off on the wrong track (62%), up one point from early May. One reason for this overall sense of dissatisfaction is still the economy. One-third of Americans (33%) say that employment/jobs are one of the two most important issues for the government to address, unchanged from January. One in three U.S. adults (29%) says the most important issue is the economy overall, up from 24% who said this in January. Rounding out the top five most important issues to be addressed is healthcare (18%), the budget deficit/national debt (17%) and gas and oil prices (12% up from 1% who said this in January).

It is this worry and concern over the economy that may be driving the numbers the White House is starting to care most about – likelihood of the American public to vote for President Obama again next November. Half of Americans (49%) say they are unlikely to vote for Barack Obama if the election for president were held today, up from 47% who said this in early May. Just over two in five Americans (43%) say they are likely to vote for him, down from 46% who said so earlier this month. Even more concerning for the re-election committee is that one in five Democrats (20%) say they are not likely to vote for the President while 7% at not at all sure.

So What?

The death of Osama Bin Laden brought the country together, but the question was always how long would that cohesion last. So far, the overall job ratings for the President are holding steady, but at this point in the election cycle President Obama and his advisors are not just thinking about the current job he has, but of extending it for another four years. Come next November, voters will be asking themselves if they are better off than they were in 2009. If the answer isn't yes, there could be issues for the re-election chances of President Obama.


Click here for all the details

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Tuesday, April 19, 2011

Congratulations President Goodluck Jonathan, but tackle National Security Fast


President Goodluck Jonathan

Mr. President, Congratulation for Winning the Presidency, but we must now win the National Security Battle and here is how to do it in Nigeria.

Mr. President, let Security Revolution becomes a top agenda for the new Presidency and here is how to we can aggressively execute it in Nigeria. Sir, we must do this with full boldness or chutzpah and we must leave no stone unturned irrespective of sentiments. Sir, remember time is short as there is so much to do. Just ask your friend, President Obama he will tell you the term runs fast!

The Nigerian society will soon see the promises of the new Presidency. The new president and the in-coming administration should aggressively pursue strategies and methodologies that could put a real control to problems of national security and anti-democracy as they relate to assassinations, armed robberies, bombing, arson, corruption, unemployment, poor infrastructure, financial waste, institutional slothfulness, and ethnic/religious divide.

If this type of executive route is taken the road to a security revolution would have begun! The new President should aggressively bring in new perspectives and ideas through non-old hands which should include proven business/entrepreneurial/professional Nigerians both in the country and from the diaspora.

Nigeria remains heavily depended on governmental democracy and public styled management systems with the heavy weight of continuously using the same used-up ideas known throughout the nation’s ministries and para-public agencies.
Surely, this is not the way or mode of growing economic democracy.

By the nature, spirit and tradition of our nation, Nigeria is a pro-ecological, entrepreneurial and industrial nation; as such achieving our economic potential will only occur when the people are free to uncover their capabilities under a much more improved secured environment.

National security also involves labor stability. The Nigerian working atmosphere is much more damaged as many private and public workers only put in a quality time of 3 to 4 hours daily into their works due to electricity shortage and fear of darkness which continues to looms in everyone’s mind.

A good security revolution also involves the national leader and his administration providing an environment where a few cannot continue to personalize the elements and processes of governance. This quandary or problem could be worked on by seeing that family ties, friendship links and personal loyalties does not represent the mount piece through which appointments, policies and agendas are made.

Nigeria is an executive democracy where the nation’s President should be able to give maximum attention to issues in the mode of strategic growth in all areas of public and private economies.

Nigeria’s problem is not mainly about godfatherism /godmotherism or political manipulators as all societies are ingrained with this type of emotional sponsorships.

What we ought to be preoccupied with is seeking out workable ideas and proven concepts from any one irrespective of its source as long as such probable solutions are very realistic to our nation’s growth and prosperity.

To better bring in a secured economic and political environment the right people with successful outcomes across various areas of business or occupation should overwhelm the next administration. These people will be the ones to help the country work out solutions to security problems like unemployment among youths as well as finding ways to provide temporal monetary help to give them seek applied training and jobs.

National security could quickly be ensured with the erection of privatized educational, vocational and professional systems, and State-based universities (public and private). These entities should be made to come under regional accreditation or non-governmental agencies that are basically professional associations that could grant recognition to a higher institution for its demonstrated capacity to meet predetermined criteria for recognized standards. This type of private or non-governmental agency should also be put in place to give accreditation to Hospitals and every other Health care organization. This idea is highly essential for the sole purpose of ensuring a more timely supervision and efficient monitoring of these vital systems.

The new president should have in place contracted procurement specialists working on behalf of the federal government for the purpose of supervising grants and providing contracts as they relate to federal tasks(e.g. super-road works, health care system,water/electric supply).

National security will come in a more healthy way by putting systems in place to move our disabled or physically/mentally challenged populations into work training, job counseling as well as assisting them with temporary disability insurance. These acts could give them pride to contribute to the national development as we just saw with the participation of many of them in polling places casting their vote on election days.

In a society where police personnel, prison workers and court officials are not well paid and given adequate living remuneration, insecurity tends to climb up and as a result local businesses and international investments suffer.Also, the national interest in the area of law and order could be served much better with the establishment of State police systems as different state governments are more likely to abundantly take interest in protecting its people and properties.

It is time to develop a new curriculum at all levels of schooling;exclusively designed to place fresh emphasis on the ethical aspect of the institutional health of the nation as it could help build anti-corruption attitude and mindset at an earlier stage of life.

With less Federal/State owned organizations running services there could be is less room for national security insults like wastage, corruption, neglect, greed, violence, pain, apprehension and suffering.A new and newer Nigeria is possible and let us hope it comes sooner with this new-fangled presidency!

~ By Dr. John Oshodi

John EgbeazienOshodi, Ph.D., DABPS; FACFE; is a Licensed Clinical/Forensic Psychologist; Diplomate of American Board of Psychological Specialties; Fellow of American College of Forensic Examiners (For Psy); Former Interim Associate Dean and an Assistant Professor of Psychology, Broward College - North Campus, Coconut Creek, Florida. joshodi@broward.edu



Friday, September 10, 2010

Immigration Hostility Widespread in U.S. and 5 Largest European Countries

10 Sep 2010 11:35 Africa/Lagos


Immigration Hostility Widespread in U.S. and 5 Largest European Countries

Many people in all six countries see negative impact on economy, jobs and public services

NEW YORK, Sept. 10 /PRNewswire/ -- A new Financial Times/Harris Poll finds that immigration is widely unpopular in the United States and in all of the five largest countries in Europe. The survey asked about immigration generally and not about illegal immigration. Majorities in four of the countries and pluralities in the other two believe that immigration makes it harder to find new jobs. Majorities in three countries and over 40% in the other three believe it has a bad effect on education. Majorities in four of the countries and 40% or more in the other two think it has a bad effect on health care services. Americans, even though they live in what has been described as a nation of immigrants are not, in general, any less hostile to immigration than Europeans.


(Logo: http://photos.prnewswire.com/prnh/20100517/NY06256LOGO )
(Logo: http://www.newscom.com/cgi-bin/prnh/20100517/NY06256LOGO )


These are some of the findings of a Financial Times/Harris Poll conducted online by Harris Interactive® among 6,098 adults aged 16-64 within France (1,004), Germany (1,036), Great Britain (1,099), Spain (1,032), U.S. (989) and adults aged 18-64 in Italy (948) between August 18 and 25, 2010.


The main findings of this new poll include:

-- Majorities in Britain and Spain, and large minorities in the U.S.,
France, Italy , and Germany think that immigration has a bad impact on
the economy;
-- Majorities in the U.S., Britain, Italy, and Spain believe that
immigration makes it harder to find a new job, as do 45% in France and
46% in Germany;
-- While most people who are working do not believe that immigration has
had any effect on their pay, those who think they are paid less
greatly outnumber those who say they are paid more;
-- Only minorities, between 13% in France and 40% in Italy, believe that
immigration has made it more affordable to hire services such as
cleaners, builders or plumbers;
-- Majorities in the U.S., Britain, France and Spain and over 40% in
Italy and Germany believe that immigration makes the level of health
care services worse; and,
-- Majorities in the U.S., Britain and Germany believe that immigration
has made public education worse, as do over 40% in France, Italy and
Spain.


Overall, many people in all six countries believe that the current level of immigration makes their countries worse places to live in , varying from 64% in Britain, 60% in Spain, and 57% in Italy to 49% in the U.S., 44% in Germany, and 43% in France.


So What?


This survey underlines the political problems that confront governments and politicians when they are addressing issues of immigration, and the easy opportunities for populist leaders to win votes by advocating anti-immigration policies. And of course the issue of illegal immigration, that was not addressed in this survey, is much more difficult.


TABLE 1
IMPACT OF IMMIGRATION ON SALARY
"Thinking about your current salary and immigration, do you think you
are paid any less, more or no differently as a result of current
immigration into Europe/the U.S.?"



Click here for the complete report




Tuesday, December 22, 2009

USA - Will she Remain on the Top or Topple?

22 Dec 2009 15:56 Africa/Lagos


USA - Will she Remain on the Top or Topple?

AHMEDABAD, India, December 22/PRNewswire/ -- The economic history of U.S., like its history has its roots in European settlements of the 16th century. These successful colonial economies grew into small independent farming economies which after 1776 became the United States of America. A central feature of the U.S. economy is the freedom of the private sector. The period of 1930 saw the great depression from which U.S. emerged strong and that between 1960 and 1990 saw the fiscal policy being replaced by monetary policy as a regulator of the overall pace of economic activity. During the last 230 years of its existence, USA has grown into a huge integrated industrialised economy that represents about a quarter of the world economy.


Today, the U.S. is in a unique situation; no other nation has the same amount of power financially, politically and not least, military. The country has incredible influence over the world. Her national & international politics are of paramount importance to the entire world because it reflects upon her relationship with other countries.


Since 2001, U.S. has been embroiled in conflicts as well as tough & demanding situations straining her economy. She underwent a housing market correction, a sub-prime mortgage crisis and a declining dollar during 2008. On December 1, 2008, the NBER declared that U.S. was in recession. Recession in the U.S., is a very bad news for a lot of countries. With experts like former Federal Reserve Chairman Paul Volcker feeling that the economic growth will remain pretty sluggish, and a lot of people seeing U.S. as a fading superpower hobbled by the recession, let's see what Ganesha has to say regarding the U.S. with the help of astrology (http://www.ganeshaspeaks.com); because her actions in next few years will decide much for the future.


Natal Horoscope (http://www.ganeshaspeaks.com ) of USA


3rd July, 1776


Philadelphia (Pennsylvania)


http://www.ganeshaspeaks.com/blog_The_Horoscope_of_the_United_States_of_A merica_2222.jsp


(Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. Remove the space if one exists.)


Leo (http://www.ganeshaspeaks.com/horoscopes/leo.jsp), the rising sign is in the second quadrant of the constellation Purva Phalguni (The Fruit of the Tree). Sun, the lord of the rising sign is conjunct with Jupiter, Venus and Mars in Gemini (http://www.ganeshaspeaks.com/horoscopes/gemini.jsp), the 11th house of gains. Mercury, the lord of wealth & gains, is conjunct Rahu in Cancer (http://www.ganeshaspeaks.com/horoscopes/cancer.jsp), the 12th house of loss. USA was formed in the period of Mars-Mars-Mercury.


Presently, Ketu (South node) is transiting over natal Sun, Jupiter, Mars and Venus through Gemini, the 11th house of gains indicating negative impact on gains for a period of about one and a half years, while Rahu's (North node) transit over the 5th house will cause unpredictable fluctuations in the stock market. Saturn's transit over the 2nd house, of finance and economy will cause reduction and undue delay in the influx of funds.


She is undergoing the major period of Moon and sub-period of Ketu (South node). Moon, the Lord of 12th house is placed in the 7th house of War. Ketu (South node)is placed in the 6th house representing debts and hidden enemies. Moon placed in the constellation of Dhanistha (The Star of Symphony) presided over by Mars, indicates that she will be determined to fight and to tackle terrorism; a cause of concern ever since U.S. entered major period of Moon in August 2001. This means, an increased expenditure on defense & security, further impacting the economy.


With Jupiter transiting through Aquarius ( http://www.ganeshaspeaks.com/horoscopes/aquarius.jsp) after 19th of December, 2009 when it passes over her natal Moon, she will find strength to withstand this onslaught. However, the Saturn-Jupiter opposition will bring significant changes in U.S. and its position as a super power.


Thus Ganesha feels that the struggle for U.S. is far from being over, and economy will continue to remain limp for about an year and a half, till October 2011. In short, U.S. is on the verge of beginning of a whole new era and that might change the whole global political scenario in next couple of years.


Dharmesh Joshi & Tanmay K Thakar


The GaneshaSpeaks Team (http://www.ganeshaspeaks.com/gsteam.jsp)


Profile Of GaneshaSpeaks


GaneshaSpeaks was launched on 25th April 2003, with an idea that the astrology industry can be organized and its potential unlocked. Today, GaneshaSpeaks handles more than half a million visits on a monthly basis while its call centers with the help of 300 astrologers ( http://www.ganeshaspeaks.com/celebrity.jsp) handle more than 30,000 telephonic consultations daily. They specialize in mundane predictions, Cricket, Football, Tennis, stock market indices and have a record of more than 80% accuracy. Hemang Arun Pandeet, a techno-entreprenuer with an engineering degree in 'Electronics and Communications',and the MD & CEO is the driving force behind GaneshaSpeaks.


Contacts public - S.Balasubramanian (Head Corporate Communications), Tel: +91-79-65221416 Extn: 305, Email s.balasubramanian@ganeshaspeaks.com


Source: Siddhivinayak Astrology Services pvt. Limited

Contacts public - S.Balasubramanian (Head Corporate Communications), Tel: +91-79-65221416 Extn: 305, Email s.balasubramanian@ganeshaspeaks.com


Monday, March 2, 2009

The Way To Self-Run

THE WAY TO SELF-RUIN

By Aderoy
South West England, UK

I wake up every morning with the thoughts and prayers of the potential greatness of my beloved in my heart. The thoughts ran in my heart through the day hoping that the decadence in my beloved will be uprooted with systematic equanimity. How did I allow my beloved to get so enmeshed in the evil of national prostitution laden with evil vice that were uncommon among her founding fathers. These were the thoughts from a caring and yearning heart.

Just 3 days ago I read that Merrill Lynch ranked Nigeria as the World's Safest Economy. Although this did not come as a surprise to me given the sustained improvement in the Nigeria's fiscal management for the past 3-4 years. The statistical calculation in Merrill Lynch's results does not however take into account other factors (or economic variables as others may refer to it) such as social unrest, prevailing poverty level, infrastruture, GDP, etc. (Source 1: http://www.thedeal.com/dealscape/2008/11/nigeria_the_safest_place_to_in.php), (Source 2:. http://www.thisdayonline.com/nview.php?id=128275). I so much proud my self in the self-belief that that singular report coming from one of the world's leading financial management and advisory companies has boosted Nigeria's image positively in no smal terms. It's no small means that Nigeria's horn in financial revolution- Prof. Soludo, along with other world renowned economists and financial analysts was recently appointed to a United Nation's high-level task force reform global financial system.

"Safest Economy" declaration is a huge image laundering for Nigeria, and rightly so given the "brutal revolution" (albeit with a positive mindset and positive results) of the banking sector introduced by the CBN management headed by Prof. Chukwuemeka Soludo. We must not rest on our oars but must extend this "brutal revolution" to all sphere of the economy. Need I reiterate that the political terrain in the country still leaves a lot to be desired although with signs of improvement given the latest democratic proceedings as in the case of the new Edo State Government elect-Comrade Oshiomole. My assertion is based on realistic facts emanating from the EFCC that the management has suspended its Director of National Finance Intelligence Unit (NFIU) over "alleged" complicity in illegal transfers of millions of illegal funds from Nigeria's coffers with his full knowledge (Source 1: http://www.efccnigeria.org/index.php?option=com_content&task=view&id=475&Itemid=34), (Source 2: http://allafrica.com/stories/200811200872.html). What on earth is going on? Can't we get our acts together and do the right thing as a nation? I was ruminating so hard on this thoughts when I stumbled on a piece of article "Only The Best Is Good Enough For Us" on nairaland (Source: http://www.nairaland.com/nigeria/topic-195700.0.html ) then I mumbled under my breath (Oro pesi je)?

That article touched my bone marrow to say the least and I retorted "if only we have ears and the minds of a wilful change as a people". But come to think of it what is stopping my bride to dig deep into her conscience to rejuvinate those cultural and morale values taught in the early days. The morale values of my beloved bride have gone to the dogs and we now celebrate superfluous mediocrity in the name of celebrity and overnight get-rich affluence. I am quick to say here that I am not a cynic but a realist and I am one of those to stand up and offer foreigners explanation of the true situation in Nigeria and of most Nigerians in the face of the fact that most foreigners have been fed with news that all Nigerians are "potential" (in the strongest of terms) scammers. I have had to provide non-professional explanation and advice via e-mails and phone to foreigners (mostly Europeans) after posting an article http://www.saharareporters.com/www/letters/detail/?id=349 and another comment on http://www.africanloft.com/can-the-nigerian-mobile-phone-companies-handle-the-46-million-subscribers/

I recall an ensuing discussion with a young Belgian chap after reading one of my articles on scamming and had supposedly been "hypnotised" into thinking he's got a cute Nigerian lady online he intends to marry within months. The lady by the name Stella Gibson (allegedly a "guy") claims to be a Nigerian-American raised in Ashebury in North Caolina and had come to Nigeria to take care of her ill mum. I have had to ping pong e-mail and telephone conversation with the Belgian by arranging a private investigation on the identity, address and location of Stella Gibson. She (allegedly) provided the Belgian with her home address somewhere on Opebi Road Ikeja and I called for a search party of friends and family members in Lagos to verify the identity of this suspect. It will be a disservice to Jean (the Belgian) to outline results of the investigation here in this context. However the taking from these is that there a large number of Nigerians (especially young Nigerians) who engage in nefarious activities in a get-rich quick scam such that there activites tarnish the image of Nigerians at home and abroad.

The yahoo yahoo business has so much grown in the belly of my beloved country and unfortunately among teenagers - the fruit and future of her womb. I am sick to my stomach to see young boys and girls of tender age who can't even make a complete statement in their indigenous language let alone in English spending time in cyber cafes to send scam e-mails. And Oh "yahoo yahoo don pay oo" that is the sort of response you get from these confused teenagers bred by the societal norms they found themselves. If you take time to discuss with any one of them (at least i have on numerous occasion), the general belief among these young chaps is, to put it in their own words, "the are trying to get back all the money the white man has stolen from Africa" (sic). It baffles my imagination that sycophants in the name of popular musicians are now glorifying such nefarious activities in Nigeria as though its a thing of joy. Else how can one explain songs like "yahoozee" by Olu Maintain and "maga don pay" by Kelly Handsome. (Source 1: http://www.youtube.com/watch?v=WQ1YLL9mvBU ), (Source 2: http://www.youtube.com/watch?v=_7iJzgxoFiM )

Basking in the euphoria of my seeming success with a few of those I have advised on the issue of scam, I took a trip to Paris to meet with a friend (I wouldn't want to use the word 'client' as I do not do it for profit) to whom I have been introduced few months back and was subjected to ridicule at the UK airport on the return leg of my trip. My offense (I should have known better) is I carry a green passport. I must quickly add here that I wasn't referring to the "American Green passport" but an official Nigerian passport. I was subjected to "special guest" treatment to put it positively while other passengers walked past giving a deep thorough gaze towards me as if asking rhetorically "what have you done?" To say the least, I was filled with bile but I took the under control, asking another Immigration Officer pertinent questions as to how enjoyable she finds her job (as if I was "toasting" her in my Nigerian parlance), while her colleagues carry out thorough primary and secondary searches on my hand luggage. I played the cool as though I was in the dark as to the motive of the search.

A few days later I read through some Nigerian and International online newspapers as usual to learn of how a renowned Nigerian Pastor was subjected to outright ridicule at an airport abroad (Source: http://www.sunnewsonline.com/webpages/news/national/2008/oct/15/national-15-10-2008-003.htm). Going by the revelation I just had to rest my case that if a man of his status could be suspected a fraudster (until proven otherwise) who am I to complain of my harrowing experience in the hands of those O' level holding Immigration Officers.

Is my bride on the way to creating a healthy and wealthy nation or she is head-rolling down the hill to self ruin, I wonder. Nigeria can be and will be great, my heart resounds, but the question that beats my guts out is WHEN? We have all collectively in one way or the other seek untenable alibi as a nation in letting our beloved nation stoop so low into a state of despondency. Someone once retorted, "Starve the people of information and you'll be able to take them captive" I stand to be corrected on my next statement and unapologetically so (at least at the time of writing this article from a hurtful heart); the Nigerian system has systematically withdrew valuable information from its citizens in order to impoverish her 150 million population. Nigerians have been starved of quality education and the void has been replaced with the belief that one can only get rich by cheating the system.

Few years back, I learnt among other things the famous Karl Marx's statement that "religion is the opium of the masses". Having been born and bred in Nigeria before striving hard to top my education with a Masters studies in the UK, I began to carry out societal and cultural comparison between Nigeria and other countries. The religious clout on the psyche of Nigerians is so powerful that we all (annoyingly so) attribute our collective failures to the will of God. While engaging in a discussion with a friend recently, I mentioned that wouldn't it be good for Nigeria to assess the level of poverty vis-a-vis the population and promulgate a law to limit the number of birth per family to, say x-number of children. True to my pessimism in asking the question, I got varied answers, a lot of which has religious intonnation from both christians and muslims alike. I began to question my sanity at that moment - Do I think differently from these chaps and if in the affirmative, WHY? Why can't we look at facts and figures of the population vis-avis the poverty level and take a positive approach (although may seem radical) to stem the skyrocketing population growth, which should benefit every Nigerian in the next 20 - 50 years, for example. We are so enmeshed in our religious clout and fail to take hard-decisions as a nation to better future generations. We (both christians and muslims) are culprits in this crime - Do we continue to quote religious verses in support of "staying glued to old norms, bearing children like guinea pigs without adequate plan for those children?"

I sometimes laugh my head off when Nigerians (in our show of undeserved pride) refer to ourselves as the giant of Africa. I would gladly support the notion that we are potentially a great African nation but not the empty, undeserved and unsubstantiated claim of being the supposedly "Power House of Africa". Are we a happy nation? Yes. Do we have a military power house to be reckoned with in Africa and the world? Yes of course, we do and I pay my respect to the men and women in the Forces who put their lives on the line for the good course of stabilising other nation in Africa. Oh the Nigerian military? No, no, no, that is a monstrous national cult and a law unto itself. I will leave the Nigerian military to another article premise. I must not however fail to give a hint of some nefarious activities of the men in "kaki" uniform. Some senior army officers wilfully deduct from the salaries of junior officers right before the monthly salary payment, or is it the usual "take this money to buy plantain in the market, take it to my house to cook" statement from male senior officers to junior female soldiers in the rank and file of the Force - the Army being a major culprit.

Can someone answer a painstaking question: Is it in the Armed Forces Decree for senior officers to treat junior officers like a piece of trash? Is it in the Forces decree for a male officer to issue command (sic) to a female officer to go and cook in his house or that she should be remanded by a "red neck" (those in Nigerian military circuit will understand this term) in a guardroom for disobeying that order. My heart bleeds for a structured, institutionalised, corrupt and morally bankrupt Nigerian military. The canker of corruption has eaten deep into the fabric of the military to an extent they parade themselves as gods. For those who may be seeking for evidence of my allegation, I must state clearly that I am a son of a retired officer and was partly raised in the barracks. I have friends, some of whom have served and are still serving in the Force - both the military and the Police. Ah The Nigeria Police keh!! "That one na another case". Just a hint here on the extent of canibalism of this monstrous institution called the Nigerian Police: It is on record that NPF is the least paid Force in West Africa let alone comparing with other Forces in the whole of Africa. Again this is not surprising to me given the extent of canibalism in the Force to such an extent retiring Police Officers cannot and will never get their gratuity and pension claims unless they pay "egunje" and guess who they have to make such payments to? Colleagues in various Departments of the Police Force of course (Source 1: Close confidants whose parents have served Nigeria only to be trapped in the cabal called the Police), (Source 2: http://www.thenationonlineng.com/dynamicpage.asp?id=70001 )

"Giant of Africa we are", someone retorted in order to bring out a serial dose of venom in me. Right to his thinking I snapped - Yes we are giant of Africa when it comes to epileptic roads and electricity, non-functional education and health care system and institutionalised corruption, Giant of Africa when it comes to looting public coffers in broad day light and using same proceed to oppress the same people that elected (sorry, selected) politicians into offices. We are giant of Africa when it comes to putting perfection to silencing journalists for raising the power of their pen against the power that be. I think I should allow Sahara Reporters to put flesh on this bone (http://www.saharareporters.com). What a show of shame to be called "The Gaint of Africa".

We are, as a nation, going the way of self-ruin either as result of blatant denial of the complexity of our problem or in submission to the same religious creed we have always retorted to in the phrase "one day, one day e go better by the grace of God". Do not get me wrong, I do not in anyway suggest religion to be taken out of the equation. Far from it, the clime is we have bastardised religious belief in Nigeria to such an unprecedented scale that we now attribute everything that we ought to sort out by careful and purposeful planning to God. We seize every opportunity to add religious undertone to common sense issues we ought to sort out as any sane being. Pastors and Imams in churches and mosques have not helped matters as well. So many have led their followers to debacle of misguided religious ideologies, withdrawing vital information to set them free while feeding them with radical and obsessive religious doctrines that "keep them (the followers) coming for more" while they surfer in penury at the expense of affluent "bigmanism" lifestyle of the Pastors/Imam.

Let's take a critical long-overdue assessment the "Bride (or is it the Giant) of Africa" and let each one of us ask him/herself "Are my actions or inaction putting my beloved Nigeria on the way to self-ruin?" As my mum will always say, he who has ears let him take heed.


Roy
aderoy01@yahoo.co.uk


Monday, January 26, 2009

NEWSWEEK Cover: I Got It Bad


In the February 2 issue of Newsweek (on newsstands January 26), "I Got It Bad (And That Ain't Good)," Newsweek's Fareed Zakaria writes about the challenges President Obama will face in order to fix the economy and restore America's credibility. Plus: Daniel Gross on our "Yes, We Can" president in a "No, We Can't" economy; Somali-Americans recruited for jihad; what makes some people survive; what Obama's presidency means for racial equality; and Newsweek's Oscar Roundtable with six Hollywood stars.(PRNewsFoto/NEWSWEEK) NEW YORK, NY UNITED STATES 01/25/2009

25 Jan 2009 17:04 Africa/Lagos

NEWSWEEK Cover: I Got It Bad

President Obama Needs To Act Quickly and on a Massive Scale To Fix the Economy

"We Have Not Turned the Corner. In Fact, We Can't Even See the Corner Right Now."

NEW YORK, Jan. 25 /PRNewswire/ -- In an essay opening the February 2 Newsweek cover package, "I Got It Bad (And That Ain't Good)" (on newsstands Monday, January 26), Newsweek International Editor Fareed Zakaria writes that President Barack Obama will have to quickly start planning for a set of more extraordinary measures to pull the United States out of its current, unsustainable economic condition. "The American financial system is effectively broken. Major banks are moving toward insolvency, and credit activity remains extremely weak. As long as the financial sector remains moribund, American consumers and companies -- who collectively make up 80 percent of GDP -- will not have access to credit, and economic activity cannot really resume on any significant scale. We have not turned the corner. In fact, we can't even see the corner right now," he writes.


(Photo: http://www.newscom.com/cgi-bin/prnh/20090125/NYSU001 )


"President Obama faces a terrible dilemma. He needs to act quickly and on a massive scale," Zakaria writes. Without large scale action, the financial system will keep bleeding, but the American public believes that we have already spent far too much on bailing out the banks. Zakaria argues that the economic fact is that we have not spent enough. Even worse, "this current crisis has resulted in a deep erosion of American power that we have not fully understood. Even in the depths of the Iraq War, when much of the globe was enraged by George W. Bush's unilateralism, people everywhere believed that the United States had the world's most advanced economy and that its capital markets in particular were the most sophisticated and developed." That system is now seen across the world as a sham, and the attitudes of officials and businessmen range from shock to rage at what they see in the United States.


"When he began his run for the White House, Barack Obama thought he could restore American power and leadership by righting our foreign policy, winding down the Iraq War, closing Guantanamo, ending torture. These are all important policies, and I am glad that he is pursuing them. But right now, the most important way for him to restore America's credibility and influence in the world is to rescue the American model," Zakaria writes.


Also in the cover package, Senior Editor Daniel Gross writes how more and more companies and firms are deciding to forgo the work of restructuring their finances, and instead selling off their inventory and closing. "Rather than soldier on, many operators have opted to simply fold, returning money to investors. Companies, homeowners and money managers willing to quit rather than fight is both a symptom of the nation's deep economic woes and emblematic of the challenge the Obama administration faces," Gross writes. "Our 'Yes, We Can' president is going to have to fix a 'No, We Can't' economy."


(Read cover package at www.Newsweek.com)

Cover: http://www.newsweek.com/id/181407

The Quitter Economy: http://www.newsweek.com/id/181264


Photo: http://www.newscom.com/cgi-bin/prnh/20090125/NYSU001
AP Archive: http://photoarchive.ap.org/
AP PhotoExpress Network: PRN1
PRN Photo Desk, photodesk@prnewswire.com
Source: Newsweek

CONTACT: Katherine Barna, +1-212-445-4859, of Newsweek


Web site: http://www.newsweek.msnbc.com/

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