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Nairaland Forum / Nairaland / General / Politics / OBJ - Nigeria Was Debt-free When I Left In 2007. (1442 Views)
Nigeria No More Debt Free: Federal Debt Up By $18bn Under 4 Years- Daily Trust / OBJ - Nigeria Was Debt-free When I Left In 2007 / OBJ - Nigeria Was Debt Free When I Left Office In 2007 (2) (3) (4)
OBJ - Nigeria Was Debt-free When I Left In 2007. by Deiok(m): 7:27pm On Aug 29, 2012 |
OBJ - Nigeria Was Debt-Free When I Left In 2007 Former President Olusegun Obasanjo has scored his administration high, saying he achieved all that he set out to do as President between 1999 and 2007. Obasanjo said this in Lagos on Tuesday after delivering a lecture titled, ‘Leadership foundation and underpinning’ as the guest speaker at the forum of the Nigeria Leadership Initiative. He said after observing that Nigeria was at the precipice and under heavy debt, he focused on holding the country together, securing debt relief and improving the image of the country. When asked if he had regrets concerning his two cycles of political leadership of the country, Obasanjo said, “When I was military Head of State, my main concern was how do we forge a united country and a self reliant country? So, the constitution was very important. We established a constitution that helped us to achieve that. “When I came back in 1999, some people came to me and said I will be the last president of Nigeria. There were different groups at that time; there were the Egbesu Boys, the OPC and the Arewa. Some people thought the centre would not hold together. The need then again was how do we hold the people together and how do we pay off our debts?” He added, “Nigeria was a pariah state, which nobody wanted to touch. But by the time we left, Nigeria was the darling of the world. So (for that) I don’t think there was anything I wanted to achieve that I didn’t achieve.” He however admitted that his administration did not succeed in fixing the power sector, but blamed it on paucity of funds. “If I had had money, I would have started working on power earlier than we started. People have forgotten that when I came in, there was little funds to do much. But then we started the National Integrated Power Project and the oil companies that were supposed to assist us were not forthcoming. I think it was only Agip that built something,” he said. To buttress the achievement of his administration, Obasanjo said when he became President in 1999, Nigeria’s reserve was $ 3.7bn and the country was spending $3bn every year to pay interest on debts. “At the time we owed about $ 35bn. But by the time I left, our reserve was about $45bn. We had paid all our debts. Our debt sum, all that we owed was about $3bn. And we had about $35bn in what we call the excess crude account for a rainy day. And when we left they said the rain has come and cleared the account,” he said. Obasanjo also stressed the need for training of leaders in Africa to effectively respond to the global challenges and opportunities of the 21st Century. |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Deiok(m): 10:21pm On Dec 25, 2013 |
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Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Ikengawo: 10:25pm On Dec 25, 2013 |
It was also ranked the #3 most corrupt country in the world... 2 Likes |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by kfasian: 10:45pm On Dec 25, 2013 |
AND TODAY YOU ARE CAMPAIGNING FOR MORE DEBTS BY ASKING THE PRESIDENT TO APPROVE LOAN FOR AMAECHI. 4 Likes |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Kachi188(m): 10:53pm On Dec 25, 2013 |
So the $16b he squandered on that phony power project fell from the sky, or he found it by the wayside...#Na So 1 Like |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by owobokiri(m): 11:12pm On Dec 25, 2013 |
You also spent over 300 billion on roads that looked worse after |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by luvinhubby(m): 11:15pm On Dec 25, 2013 |
owobokiri: You also spent over 300 billion on roads that looked worse afterAnd that was in the first 3yrs of his regime. This man is suffering from dementia. That he forgot does not mean we will also. 1 Like |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by theoctopus: 11:50pm On Dec 25, 2013 |
Being debt free is not the same thing as being in good financial state. A third world country like Nigeria trying to develop and with the population we have, is not expected to be debt free. America is not debt free. The few countries in the world that are debt free are low population countries. What is important is how much development you put in place, not how debt free you left the country. Nigeria would have been better off with constant power, world class hospitals, transformed education, an industrial revolution and $50 billion debt when he left, than being debt free. 5 Likes |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by owobokiri(m): 12:02am On Dec 26, 2013 |
Ask him what he did for Nigerians after 8 years in power with high oil earnings and it has always been the same answer; paid Nigerias debt nd 'gave Nigerians GSM'...That is it. You paid your foreign handlers their thank you package for killing you opponents and helping you to Aso Rock and we wont hear word again. 1 Like |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by agbameta: 12:08am On Dec 26, 2013 |
theoctopus: Being debt free is not the same thing as being in good financial state. A third world country like Nigeria trying to develop and with the population we have, is not expected to be debt free. America is not debt free. The few countries in the world that are debt free are low population countries. What is important is how much development you put in place, not how debt free you left the country. Nigeria would have been better off with constant power, world class hospitals, transformed education, an industrial revolution and $50 billion debt when he left, than being debt free. Not debt free means you get saddled with $ Billions in interest payments every year and this holds you back in terms the same development you are talking about. Debt free gives frees us Billions to do other things like the same world class infrastructures you are talking about. Your primary concern should be the fact that we are not only heavily in debt today, we are also saddled with billions fleecing away via theft from subsidy fraud to pension fraud, oil theft, gross wastage and incompetence, administrative fraud via the likes of Oduah and the list goes on. Your dullard president can not do anything in terms of development without borrowing from left and right, even his budget comes with over N500 billion budget deficit loans and borrowings.. I do know you are ignorantly and foolishly defending your reetardeen, but do it with a little common sense and that's even if you are capable... 9 Likes |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by agbameta: 12:08am On Dec 26, 2013 |
owobokiri: Ask him what he did for Nigerians after 8 years in power with high oil earnings and it has always been the same answer; paid Nigerias debt nd 'gave Nigerians GSM'...That is it. You paid your foreign handlers their thank you package for killing you opponents and helping you to Aso Rock and we wont hear word again. We know he saved Nigerian taxpayers $Billions by eradicating our debt and leaving behind a very green and healthy bank account which today is history. We know he built more power plants than any government in the history of Nigeria. We know he helped our society and economy greatly by bringing in Cellular phone activities We know he brought us in from the cold by eradicating our pariah and despot status We know till this very second, he's a powerful force on the world stage unlike the weak, uninspiring and incompetent president we have today Stay away from ignorance... 6 Likes |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by globalaid(m): 12:23am On Dec 26, 2013 |
Baba I may not be your fan but on this I am with you. Jonathan is taking us to another slavery cause of debt again. 2 Likes |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by OmoTier1(m): 1:02am On Dec 26, 2013 |
owobokiri: Ask him what he did for Nigerians after 8 years in power with high oil earnings and it has always been the same answer; paid Nigerias debt nd 'gave Nigerians GSM'...That is it. You paid your foreign handlers their thank you package for killing you opponents and helping you to Aso Rock and we wont hear word again.How I wish we could say one thing tangible GEJ has done like the GSM 1 Like |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by ikeyman00(m): 1:06am On Dec 26, 2013 |
@@@ globalaid(m): 12:23am
the same with lagos state |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Brimmie(m): 1:10am On Dec 26, 2013 |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by bloggernaija: 1:19am On Dec 26, 2013 |
agbameta:Why are you bothering yourself with that person. |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Nobody: 4:56am On Dec 26, 2013 |
Please stop this GSM as an achievement. No one can claim credit for this global phenomenon. The whole world has GSM. Every country got it at t he same time. Nigeria later than many others. Besides ours is one of the worst in terms of quality and cost to consumers. Obasanjo, you are a man with little or nothing in accomplishment other than you ruined Nigeria for 12 years. |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by 99100(m): 7:32am On Dec 26, 2013 |
Obj is a clown and his supporters foolish. |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Nobody: 7:34am On Dec 26, 2013 |
jerseyboy: Please stop this GSM as an achievement. No one can claim credit for this global phenomenon. The whole world has GSM. Every country got it at t he same time. Nigeria later than many others. Besides ours is one of the worst in terms of quality and cost to consumers. Obasanjo, you are a man with little or nothing in accomplishment other than you ruined Nigeria for 12 years. Wonderful. I was about to make the same remark about the gsm thing. From the first day I heard 'obasanjo brought gsm to Nigeria' I was like---> wat.da.444kk. even if Abacha was still alive till the gsm boom we would have got it at about the same time, we may have had different service providers though. Other than this, OBJ did well for a president. Nigeria is in debt, America is in debt, Russia is in debt. . . abeg WHO DEM DEY OWE? |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Nobody: 8:28am On Dec 26, 2013 |
We all know what Obj did or did not do. But kindly show us any thing of benefit that Gej has done. 1 Like |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by koboko69: 8:29am On Dec 26, 2013 |
n.oxide: Hello sir! Restart your brain.... The countries you mentioned are living in luxury. How pathethic is it for u to be in heavy debt and you still suffering. Im sure your brain knws that the growing Nigeria debt is not tantamount to developments in Nigeria. 1 Like |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by kel4soft: 10:55am On Dec 26, 2013 |
kfasian: AND TODAY YOU ARE CAMPAIGNING FOR MORE DEBTS BY ASKING THE PRESIDENT TO APPROVE LOAN FOR AMAECHI. Give me your source? By the way. Didn't the President approve loan for Lagos State Government and his home state Beside Amaechi has asked the Minister or whoever is in charge to reward the contract to any contractor of their choice. OBJ has never asked GEJ to help Amaechi borrow any money whatsoever. Do you know the losers in all these? Both of us that are not in Govt. |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Deiok(m): 10:56am On Dec 26, 2013 |
tpacalipse: We all know what Obj did or did not do. But kindly show us any thing of benefit that Gej has done.Gbam. Nigeria is More like a country without a president. |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by solomon111(m): 11:26am On Dec 26, 2013 |
tpacalipse: We all know what Obj did or did not do. But kindly show us any thing of benefit that Gej has done.So all these numerous projects that are always being highlighted on nairaland are not of benefit? May you remain blind to GEJ's achievements. |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by Nobody: 11:29am On Dec 26, 2013 |
solomon111: So all these numerous projects that are always being highlighted on nairaland are not of benefit? Name one or two.... |
Re: OBJ - Nigeria Was Debt-free When I Left In 2007. by solomon111(m): 12:12pm On Dec 26, 2013 |
ilugunboy:No need for that. Go and click on sincere9gerian's profile and read till you're satisfied. |
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