Sunday, April 17, 2016

Nigerians confused about Buharinomics should study Islamic principles.

Western finance is Haram.

Wikipedia: Islamic economics
The central features of an Islamic economy are often summarized as: (1) the "behavioral norms and moral foundations" derived from the Quran and Sunnah; (2) collection of Zakat and other Islamic taxes, (3) prohibition of interest (riba) charged on loans.
Advocates of Islamic economics generally describe it as neither socialist nor capitalist, but as a "third way", an ideal mean with none of the drawbacks of the other two systems.
Among the claims made for an Islamic economic system by Islamic activists and revivalists are that the gap between the rich and the poor will be reduced and prosperity enhanced by such means as the discouraging of the hoarding of wealth, taxing wealth (through zakat) but not trade, exposing lenders to risk through Profit sharing and venture capital, discouraging of hoarding of food for speculation, and other sinful activities such as unlawful confiscation of land.
Does this help you understand the President's constraints better? For instance, no loan deal, but investment deals and currency swaps are good. China yes but IMF no.  You're welcome.  Please leave a donation.

Meanwhile,
a few ridiculous faithful people have been about the internet explaining the President's economic moves, plans, strategies...

Minister of Finance, Kemi Adeosun 
http://www.vanguardngr.com/2016/04/nigerias-economic-challenge-surmountable-adeosun/
And so on, click for more
Ms. Adeosun previously wrote on facebook:
Financing our future
By Kemi Adeosun
Writing this, my third article on the economy, I’m keenly aware that the question Nigerians want answered is: what is government doing to address our economic challenges? The first thing to state is that there are no quick fixes, but our strategy is clear and the expected outcomes are pretty compelling...READ MORE

 Vice President, Yemi Osinbajo posted on facebook, on the same day (April 7, 2016):
Consequently, I am pleased to share President Muhammadu Buhari's strategic implementation plan for the 2016 budget.
This Strategic Implementation Plan articulates 6 thematic Strategies and 33 priority actions which will constitute the short-term priority of the Federal Government over the next 12 months.
1. Lasting Changes in the Policies, National Security and Governance...
https://www.facebook.com/professoryemiosinbajo/photos/a.633188840124819.1073741828.633018823475154/868065669970467/?type=3
Read More Here

Follow them on facebook for more strategic plans.  Wake me up when this buffonery is over. 

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