NIGERIA’S GDP GROWS BY 5.01% IN Q2 2021 + TODAY’S HEADLINES – THE MORNING SHOW

NIGERIA’S GDP GROWS BY 5.01% IN Q2 2021 + TODAY’S HEADLINES – THE MORNING SHOW

[Music] [Applause] we begin this morning with the reported growth of nigeria’s gross domestic product by 5.01 in the second quarter of 2021 is the highest economic growth recorded under the muhammadu buhari administration in six years the national bureau of statistics in its second quarter gdp report said five percent growth rate recorded year-on-year was higher than the minus 6.1 growth rate recorded in q2 2020 and the 0.51 recorded in q1 2021. the mbs said the gdp figures was indicative of the return of business and economic activity levels to levels prior seen nationwide before the implementation of coveting restrictions also president muhammadu buhari has announced the net profit for state-owned petroleum company nigerian national petroleum corporation for the first time in 44 years of establishment the president who doubles as minister of petroleum resources said the company made a profit of 287 billionaire last year this is sequel to the completion of statutory annual audit for the year 2020. the president directed nigeria national petroleum corporation to publish the audited financial statement timely in line with the requirements of the law he reiterated his commitment to ensure transparency and accountability by public institutions take on these two stories well you know i love a silver lining so i’m actually really pleased this morning that we’re not discussing the usual doom and gloom thank god for that a brief respite and you know some little buds of hope here and yes um it’s on the cover of this day that the 5.01 second quarter gdp growth excites nigerians i’m not sure how excited nigerians are because we are not quite feeling the effect yet but it’s a really positive development and we have to congratulate the buhari administration whatever victories even small ones deserve to be celebrated as for nmpc also you know good news you know breaking that long jinx of losses year-on-year and now we have a profit being declared and it’s also um i recall uh medicare’s agenda when he took over the reigns or nnpc last year when um it was was it two years ago tape wasn’t it transparency accountability and performance excellence so we’re also seeing that thankfully you know for a long time all we ever get is acronyms right without results so we’re actually starting to see results even now as nmp services going through the changes that it’s going through being privatized and commercialized i’m actually really feeling positive and optimistic at this point which is a change i have to say that’s a good feeling this morning okay you know i like your optimism and i think that optimism is useful um you know one political leader in nigeria once told me that what is important is to always give the people hope even when the people are so pessimistic they are in despair give them hope and i believe that these two pieces of news current news will give the nigerian people hope the indication that one uh there’s been a growth in gdp and a year yeah that is and that you know this is as a result of activity within the economy within the business sector now but there are some economies who say that look if you look at the statistics that has been provided this is a a result of what they call the deep dive pay base point which means that it is to be expected as useful as it is is as a result of improvement within the economy we are no longer where we were when kobe 19 started uh we are no longer where we were in the first quarter second quarter of 2020 and as a result of that activities in trade in transportation in ict has brought us to this point the major challenge that we face is how do we sustain it how do we sustain it with regard to for example agriculture how do we sustain it for example with regard to manufacturing yeah that’s the big challenge and how do we ensure that 2023 elections because the government is going to go into an election mode very soon now when the country goes into an election mood very soon what effect is it likely to have on the economic prospects of the country the second leg of it is that yes this gdp growth the best since 2015. i mean you can congratulate the brewari administration you can praise them for celebrating it but how does it impact on the ability of the average nigerian to be able to purchase more goods provide more services within the economy and we would like to see going forward those steps those measures that government will take to make sure that okay we have money covered very well but we can also secure the future of the nigerian people that i think is the very big challenge because if you look at where the uh progress has been made it’s in transportation it’s in information technology is in the non-noise sector as you have been told okay can we make the same progress in manufacturing and in also other places so that we can ensure that jobs are created and that you know we achieve eventually the double digit growth that we are expecting now on the question of the nmpc yes the nnpc has recorded profit for the first time we’re told in 44 years big congratulations to the administration that what is this based on is it based on importation or is it based on domestic production or is it based on changes within the global market or do we you know the mercurial nature of the international market with regard to oil so i think that there are nigerians that will say yes it’s good the nmpc has made profit the president has called for another performance to provide clarity transparency with regard to what has been achieved i think that that again is commendable but the question needs to be asked what are the issues about subsidies where are we with that we have the pia that we are told that this bia will not kick into effect in certain regards until about 12 months now what is happening to those loss making refineries can we also raise questions about that and what what is government doing about that all of this will fit into the framework of the request for clarity audit transparency that the president has talked about but i see the administration is excited and that’s good two big positive stories in less than a week with regard to gdp growth with regard to uh the nnpc uh making profit there are other issues that we need to look at and i think that there are enough advisors in government who can do an intellectual unpacking of all of this and advise government as to how to sustain the achievement sustainability in my view is a key and manufacturing is an area that the government still needs to look at before now we had phillips electronics manufacturing home appliances in this country yeah right today the uh phillips electronics are there i think it’s georgia yeah i think the place is there is a bb niger studio how can a country move from manufacturing electronics to becoming a studio warehouses then it became warehouses then even i became students then he became churches you come in a studio for people waiting for a dollar to a bachelor i’m waiting for nina i’m waiting for queen i’m waiting for who is the hottest girl in on the show mariah somebody said maria okay i have maria a ninja okay you know so how did you get to this point there’s a adipower electronics yes that also used to manufacture i wouldn’t be surprised if they were electronics has now become a church so look let us see how we can move things around so that this achievement that everybody is present can be sustained right good good but you need to do more we need to open up those channels you see the reason why people run to the uk and canada is not because they pick money on the streets it’s because they know that in three or four weeks when they get into canada or less than a year or six months they can get a job we want a nigerian economy that produces a lot of jobs and people can get jobs to do when they get job to do good paying job in their pocket they have dignity of working and they can boost their lives and pay their bills jobs jobs jobs good or do more and that’s all on news headline we’ll take a short break now won’t return we’ll have reuters ordering michael wilson aaron and kyle to give us updates on africa global business sports activities across the globe stay with us [Music] welcome back to the morning show here on the rise news our dependable reuters suggeri is here to give us an african business update good morning reuters good morning to good morning rafael good morning uh doctor all right so let’s uh get into those gdp numbers uh shall we uh first off uh with respect to the oil sector again in nigeria’s economy rebounded uh to 5.01 uh you know in the second quarter of this year compared to where we were last year so if you take a look at the uh table in front of you you’ll see gdp growth for this quarter uh what are the excuse me for second quarter 2021 compared to first quarter of 2021 and the second quarter of 2020. so you’ve got quarter and quarter and year on year so if you look at the oyster with the oil sector which has been struggling a contraction of 12.65 in this second quarter of 2021 also a contraction of in fact a contraction all around two percent two point two percent contraction in the first quarter of this year and a six percent contraction when we entered recession uh in the second quarter of last year you’ve got oil production 1.6 million barrels per day in the second quarter of this year 1.7 q1 and then 1.8 in the last quarter of uh of the second quarter of 2020. if you look at oils if you look let’s move to the next slide here the oil’s contribution to gdp the reason why that 7.42 figure is in red is because oil’s contribution to the to gdp actually shrunk uh in the second quarter of 2021. so just a recap in q1 2020 i was 9.5 percent q2 2020 8.9 q3 eight point seven q four five point eight percent lowest contribution in the fourth quarter of 2020 and then first quarter of this year it was about nine percent nine point one so it shrunk to seven point four two so just to emphasize that the oil sector is um is is struggling we move now to non-oil actually where we saw growth and this is where you can actually see what a base effect uh looks like so you’ve got non-oil uh non-oil gdp there’s six point seven four percent growth in the second quarter of 2021 uh compared to 0.79 in the first course of this year and then you can see the contraction of 6.05 that’s your first row at the very top of that table now you can look at the various sectors no need to go through everything but you can see trade bouncing back 22.49 um from a contraction of 16.59 in the in the quarter of uh second quarter or 20 uh 2020. but take a look at something here just just to illustrate this base effect look at road transportation road transportation gdp grew by 92.3 i i mean so so that’s in the second quarter now look at what it was in the uh sec in the first quarter of 2021 just this year again this is to illustrate that this is a year on year comparison in the first quarter of this year 2021 compared to the first quarter of 2020 road transportation contracted by 23.75 in the second quarter of 2020 it contracted by a massive 51.35 percent so and of course it’s obvious because nobody was able to move there was a lockdown and so now you’re now coming to the second quarter of 2020 or 2021 where you’ve opened up the floodgates folks are able to move around that’s why you can see that incredible swing from a contraction of 51 to a a huge jump of ninety two point three percent you’re not going to see that ninety two point three percent uh jump in quarter three and quarter four you just won’t because you’re looking at a year on year comparison now also um uh telcos look at this one more interesting observation look at telecommunications telecommunications in the la in your last uh road to the right was the only sector to post growth of 18.10 in the second quarter of 2020 compared to all the other sectors that you have in front of you showing you that even during the lockdown a lot of people are using for they’re making calls updating you know data and so on and so forth but look at the subsequent shrink uh since then uh the second quarter of twenty the first quarter of this year seven point six nine percent and then the sec this quarter second quarter 5.9 you can attribute that to the uh nin registration and the restrictions that happen in the telco sector so that’s that’s where we are with that just digging into the numbers to emphasize the base effect we moved to the nnpc you’ve already touched on this already president buhari saying um announcing that the 287 billionaire profits first in 44 years is what he’s saying we just want to see the audited accounts that’s what we’re waiting for uh to actually see how exactly nnpc came about now they did say in their press conference that it was as a result of cost-cutting measures um that they made um but you know i haven’t seen the audited accounts we’re waiting to see them i reached out to them yesterday they said that they’ll you know send that over so we’ll have to take a look because again you’ve got a contraction of gdp in 2020 or 1.9 you had opec quarters that restricted how much about barrels of oil nigeria could um could produce uh in in last year due to the um the covid pandemic you had oil prices falling so we really want to dig into those numbers and see exactly how exactly that profits came about um from nnpc we moved to the uh this the we have a new a new lead a new head of the uh uh statistics bureau uh dr harry uh dr simon and um he is actually been appointed by president buhari he’s got about 30 years plus three decades plus experience um he replaces dr yemi khali who is the outgoing statistician general whose tenure exp ended on the 16th of august so we’ve got a new lead and maybe revised requests of a monthly jobs report maybe we’ll get that now finally to education interesting um report from uh uh narrow metrics let’s just take a quick look at a chart here which is a foreign exchange that has been outflowed to edge foreign education in other countries 28 billion dollars is what nigerians spent between 20 11 and 20 20. now there’s a chart with lots of colors there but basically just to break it down easily the blue bars you’re looking at is how much was how much of an outflow went out of the country year on year 28 billion total 2.7 billion in 2011 2.6 in 2012 all the way through to 2020. the orange line you’re seeing at the top is the percentage allocation of an education budget as as against the full budget so it had a high of 10.8 percent in 2015 it fell all the way to 6.3 the argument here is that if the federal government allocates more money to education you might see a reduction in the amount of foreign foreign exchange outflows that go to education in other countries i mean okay i don’t know i hope i’m not the only movie buff around here juju watch field of dreams with kevin costner if you build it they will come that reports about education in nigeria seems to suggest seems to somehow blame the parents a little bit for going abroad and or the capital flight but if you build it they will come in the nigerian context with education if you build good universities the parents will send their children there according to the united nations every country is supposed to be spending 26 of their budget on education now you have just shown us that nigeria will fall way short you’ll recall you and i we’re having a conversation away from here about whether or not you know paying for foreign education is killing the naira you were speaking as an economist i was speaking as a parent i actually see it as heroic self-sacrifice to send your children abroad and it’s unfortunate that we have to it’s really sad as a country and as for dr harry um congratulations to him on his appointment i hope that he can at the very least match the stellar performance of dr khaled in that seat of mbs because the data integrity was top notch as in he was he performed excellently he did a great job in that seat and your chart about the gdp i was dismayed to see yes i’m glad about you know telecoms and what have you transport but i was completely dismayed right at the bottom there crop production is still hovering at 1.38 percent even during the lockdown it was about 1.41 i believe it was percent now that we have life has gone back to normal it’s still 1.3 percent and that just speaks to the insecurity in the country and the lack of food security that’s a problem that is well let me start with uh yemen khaled that’s correct i think yemi khaled deserves congratulations uh for having had his successive successful tenure in office he was first appointed in 2011 by the jonathan administration and when you know his first time expired in 2016 president buary found good reason to give him a second time and i think that he deserves congratulations commendation indeed and he deserves in fact a presidential letter of commendation in terms of how he conducted himself in that office he had to reform the process of recording data in nigeria the data process and and he was very independent very honest and quite confident about how he went about his job you recall that i walked in the nigerian presidency a special advisor to the president of media sometimes some of those documents come to me first and i recall one year when he brought this report about the state of uh statistics in different sectors of the economy and i was very critical of the government you know it was that report was literally putting government down and after revealing it i went to the president and i said uh son we have to start this man is your appointee why is he so negative about this administration but president jonathan said no leave him alone he’s doing his job let us look at the data and see what we can do with the data and i’m sure that that is the same kind of integrity you know uh independent-mindedness that president buhari saw in him and then decided to reappoint him in 2016. as a rule i don’t trust people who grew out with statistics because when i look at the figures what i look at is the market what i look at is my pocket what i look at is the human condition and oftentimes in this country you know i have this attitude that statisticians tend to tell lies but whatever it is they do in their world with statistics with data i think yemi khaled was very consistent and it’s good that he has had a very good run now simon harry is taking over from him as head of the mbs and as a statistician general of the country well dr hari is not coming as a rookie he has been on the job since as far back as 1992 and we just hope that you will be able to sustain uh the independence the integrity the tradition of proactiveness established under dr yemi kaleb with whom uh he worked i think that that is really a very uh uh important in my view so for me uh that’s a big issue this morning but you brought the issue again of the growth in gdp i said earlier that yes the government can celebrate that there has been growth in gdp uh that npc is beginning to make profit but there are other issues this gdp growth is based on deep uh base point drive okay but in any case the big challenge in my view is how do you sustain it how do you grow other sectors how do you grow manufacturing how do you sustain growth in agriculture in the next few months or so will be another season so we’re likely to be told inflation has gone down a little bit we’re having a good harvest there’s more than that what we have experienced what we are celebrating is as a result of the fact that look last year the economy was shut down since uh about august october last year the economy had opened up so the growth that we’re talking about is expected but how do we sustain it that’s a challenge for government and for the agencies of government that work on those issues right okay i got the time to still make a comment yes good real quickly ruthless uh look at those numbers as regards universities look at them critically when you look at them and see how much we’re we’re we’re sending abroad because we can fix our education system here those numbers are poland 28 billion that’s a sizeable portion of you know money we can spend on our local education system and this was not always the case in fact in the 70s 80s americans used to come to universities here that was the case because we had robust universities that they wanted to go to and the quality and the standard was high things started to plummet after that infamous 7980 episode ali musgo and since then year-on-year the spending of education has reduced and that’s why you can see the first brain drain heat us in 83 84 85 leading up to 86 when we started to have currency problems a lot of our best friends left and since then education has been a slippery slope there’s so much potential in the economy to reflect in education to reflect the economy when you check the mbs numbers education growth is very low so just imagine rotus that if we had fixed our universities and out of the 28 billion we’ve taken cumulatively or out of the six billion dollars we put abroad for education in 2020 if we can take three billion dollars and put it in education in nigeria and let that be you know the best point for money circulating education system just see the impact that we’ll have on our gdp and that’s the calls for expansion we keep talking about great it is shocking that currently uh gdp just has 46 sectors that have been highlighted and that all the receipts are taking on to make up the gdp numbers how about we expand education is an important tool scientific innovation another important tool so it is for us to look at data like this put up a narrow metric and say how can we show up the potential because what i’m seeing here is potential and this is just america roses you’re not calculating what goes to the uk that’s another amount entirely no this is total this is this is totals all effects so so what they use narrow metrics use balance of payments for this okay so the balance of money comes in for imports and then money that goes up for for expo so that’s for export so this is total so just look at the possibility this is total across the board yeah the same money could do if it was sitting in this economy because of the possibility it brings when you look at those numbers those are humongous numbers well i mean nigeria tops the list of a report by business insider africa of uh you know foreign students in european universities but i think we should also look at the side of the commitment by president muhammadu buhari at the recent global partnership summit on education where he said that nigeria has committed itself to you know a 50 increase in allocation to education but the bigger question in relation to that would be how would the funds be managed to expect the transformation to achieve the transformation that we expect in the education uh sector because education is the only way in which you can empower or wear one of the ways in which you can empower your citizens and prepare your youthful population for competition in the future we need to build uh a population that does not want to end up as uh well i don’t want to mention some names you know i said managers of uh transport union workers or as uh you know leaders of some other shady groups that live their lives on their on instagram the persons with intellect who can compete internationally that i think is a challenge with regard to education as was the case in this country at a time a country that produced the brightest and the best in the world today we are producing instagram phenomena we are producing a plunkin superstars we’re producing a moto pak stars who get all the best things in the best part of town including the best women available good heavens the rise of anti-intellectualism is always sad to see i don’t know about the women angle thank you roses moving on now to more business updates michael wilson joins us from london good morning mr wilson uh good morning um everything is really focused on the jackson hole symposium in wyoming where america’s central bankers have at least got together i say at least because it used to be a worldwide gathering it now no longer is because of all the usual reasons and it is virtual as well so nobody’s actually there i mean it’s there’s going to be contributions all the way for a way around the world the question is how does the fed actually reverse its easy monetary policy that’s the question which has been hanging over the markets for a long long time thus asian market specifics are all asia pacific finland shares rose very very slightly indeed nikkei has erased some of its losses and that’s just the detail um as far as more broad things are concerned x-paying which is the china electric vehicle maker says it’s on the right side of regulation as chinese authorities as we’ve been reporting for the past couple of weeks uh security and so on x peng is saying that um it’s it’s fine it’s in the right on the right side of regulations it connects an increasing amount of data to train algorithms for autonomous driving and all that stuff um another circle smart features in a car but it says that it has actually reviewed all its data and it feels as though the regulators have nothing to say to it we shall see as far as the united states is concerned let’s just recap briefly uh what happened there a couple of hawkish comments from uh three fed officials have turned things around very very slightly futures on the dow um just up about 19 points um basically it’s how the fed as i said to you pulls back from all this uh money printing that’s been going on and whether it starts to raise interest rates again again just looking for clues really i don’t think we’re going to get that being plain we we never would about that from the fed but there we are and and also we’ll get some inflation figures from the united states these are the the the the the the the the figures that they that the economists actually quite like in the united states called pce and it’s about personal uh personal spending and really it’s looking to see how any inflation is actually going through uh into uh the actual shopping as far as apple is concerned here’s a major policy change for them this is to do with a lot of the examination that they’ve got from the authorities in the united states about competitive practices and what they’re saying is that if companies are in the app store they can do their billing separate away from up fields which uh tend to be uh tend to be asking uh quite a lot and the euro european union is to start its own investigation uh into the the takeover of arm by nvidia um already the uk has uh expressed deep competition worries about that the eu is now getting involved as far as the uk is concerned very very changing landscape here just a quick statistic from this morning it’s lost 83 percent of its main department stores and since uh since covid and undoubtedly um this this kind of data accelerates the need for retailers to think again and whether they actually have department stores or whether they go online oil just the two commodities to come obviously easing very very slightly ahead of what’s happening in the united states around about 68 dollars a barrel and gold well again a lot of safe haven flows into there after the terrible scenes from kabul airport that we’ve actually seen there but it’s clearly locked into this wait and see mode for what we’re going to get out of jackson hole the culmination of that will be uh jay powell’s speech later today which i’ll be talking and to wrote us about again later in today in the global business report that is your global view so far this morning well uh that was quite quick this morning but very quickly uh you mentioned the jackson hall uh what should we expect because jerome powell the chairman of the federal reserve is going to give us a virtual address this morning i don’t know whether on account of time difference that has happened and people have raised concerns about monetary policy the market has been watching what are we likely to expect is the federal reserve likely to ease up on its uh easy approach uh to cover nightingale and stimulus which is something that the markets have been very uh sensitive uh about and with regard to german power does it deserve a second time in your opinion democrats are divided on that issue uh is tenure expires in february but the conversation started as far back as the last month still likely to get a second term approved by president biden and the senate and what will be the implications of his reappointment or non-reappointment for the midterm uh elections uh in 2022 the second issue i would like to draw attention to is high straight ice street has about 237 or there about charts that are now empty abandoned according to uh coaster the uh uh the um information monitoring arm of the consumer sector in the uk what are the implications for landlords what should we expect re-purposing or what indeed is responsible beyond covet for the at the risk of exaggeration what you can call the collapse of high strength right we’ll talk about department stores first of all um it’s not a collapse of the high street what’s happening is they’re changing they’ve been changing for a long time i think the pandemic actually uh moved up that progression fairly quickly so it’s basically your right to to wonder about what’s going to happen to landlords and so on i really don’t know how they’re going to um disperse the properties whether they’ll become officers accommodation depends where they are but clearly a great deal of uses executive change juice has got to be thought through and it’ll take some quite um innovative thinking to actually get that underway i think that changes is happening fairly quickly retail itself is going online i mean we’ve observed that a lot of time however there is still a place for people get out of the house and it’s not all about our hybrid approach to that in in the months and years to come so rj pal is concerned i’ve got no idea what he’s going to say um he’s either going to take the opportunity to make to make a big important speech tonight or he’s just going to shelter behind the sort of ifs and maybe all this there isn’t a great deal he can say quite honestly as i pointed out earlier in my report the difficulty is not so much pushing the money out it’s when to withdraw it and how you actually start to deflate the balloon that’s actually been blown into for all this all this printing money over the past 18 months or so his question therefore is when he knows that inflation is rising he knows it’s either spiking or it’s underlying the debate still out about that what he’s not clear about is the other pillar of his decision which is employment or unemployment again no clear figures we’re going to get jobless figures um you know but they’re so they’re so mixed at the moment it’s impossible to draw any any kind of firm conclusions from them the united states is gradually on the road to recovery he’ll replace him i don’t know really i mean again we’d have talked about this before i think february is a long way off um there will be continued talk about it if i were biden given his problems at the moment i’d go for a safe pair biden’s pushing through the domestic policy reasonably well he’s getting his um he’s getting his infrastructure bill gradually pushed through he’s getting the social spending actually gradually pushed through um he will have to address what he does with his central banker i think the markets quite honestly in as much as they’re happy about anything are happy with powell as as we speak again draw more conclusions about it next week i think it’s going to be the september meeting of the fed that actually starts to put some um to throw up some clues as to where it’s actually going until then i don’t expect a lot but you know we live in hope that we right uh michael one of the biggest economies in asia have finally done that thing most central bank governors will not do they’ve increased interest rate in korea uh what’s your take on that what’s the ripple effect and let’s talk a little bit about the logistical problems a lot of people are not picking logistical job affecting supply chain as a backhaul on the industry you know of uh departmental stores and the likes and uh moving goods around in the uk and this is beginning to impact on the economy this is another headwind that a lot of people did not think will happen but it’s happening now supply supply chains are an incredible headwind on anything i mean it’s right down to empty shelves on supermarkets we talked about this yesterday we’ve talked about the lorry drivers in this country uh there are freight there are hundreds and thousands of containers sitting on freight ships doing absolutely nothing as the as the up as a stick up in in docks continues that’s down to infrastructure projects you know this very well from nigeria and the problems that you’ve already you’ve already talked about over the months about the problems in the ports there supply chains are a real problem the only change that we’re seeing is far semiconductors are concerned and again these are essential little bits of electronic equipment for most things that we actually get now and it looks like many countries are actually exploring ways of ensuring their production of those because they want to reduce their dependence upon supply chains from countries that may may wish to restrict them in the future so that’s the future of that again it’s too soon but it’s absolutely right it is it’s an unfortunate response to to economies that are coming much more quickly as well out of the pandemic shutdown than people thought they would uh as far as south korea is concerned yes an interest rate rise yesterday only a quarter of a percent but then again a quarter of a percent on a very low level is a big interest rate rise what did they do there well they’re used to acting on their own it’s a big it’s a big developing powerhouse i’ve got no need to tell you about that will it give central bank governors um uh you know a look in the mirror to be able to say well we could do this now i’m not sure that central bank go i hope they don’t work like that maybe they do but it’s it’s taken this course because of rising prices and because of a property market that was gradually burning far too hot again we’ll see we can measure the results it takes one doesn’t it we’ll take a look see what happens in south korea and if it works it works if and and then i think you’ll find there is inevitable an inevitability about other central banks joining in as well but again we’ve got to wait to see the defense the big one and it’s really what the mood music about that is sorry about the phrase that we’re going to see in the next few weeks well michael i know you don’t like to comment on politics but i don’t know whether you’ll be tempted to make a comment on what the daily mail uk this morning describes as a tragic price of surrender in afghanistan with the kind of massacre the kills the suicide bombing that we witnessed yesterday how do you think that would have a greater effect maybe perhaps there’s a linkage with economic and global security uh i i i prefer to wait for that question i don’t like talking about politics you’re right there because it’s not my not my favorite subject however um what those scenes terrible no no question about that you’ve covered all that in in your general news i think the question is what who are the taliban and what do they actually want is it is it are these just little chiefs very very serious very very serious indeed in their intent but what do they want do they want to join in with the general system that we are in now where does china stand in all this and where does russia stand in all this because again those are the powers really that we need to talk to because the whole of the world needs to find out about afghanistan and needs to find out what the taliban actually want are they simply a terror organization that exists for itself or have they changed have they changed into wanting to be a significant power in the world they can do what they like with terrorist atrocities i think most people would agree that real power comes from joining economists together it doesn’t come from the occasional bomb however horrific and however horrific these these these attacks actually are it comes from joining in and having a powerful voice afghanistan’s assets are mostly abroad um it has its narcotics illegal narcotics trade it’s got its got its illegal customs duties all those things to me point towards an economy that’s looking in towards itself we shall have to see i i i can’t answer your question all i know is that that it provides um it provides some good headlines like the one in the in the daily mail about surrender and all the rest of it i think the truth is far more complex than that i it may have been a surrender i don’t know i wasn’t there i don’t have access to to all the sources and nor does anybody else um we have to wait to see what is the taliban iv that’s the crucial question thank you very much michael always saying amazing question we all know what the taliban is for [Music] [Applause] [Music]
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NIGERIA\'S GDP GROWS BY 5.01% IN Q2 2021 + TODAY\'S HEADLINES - THE MORNING SHOW

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