GenBuhari: He never paid the debt. It was a scam check the records whether we were debt free in June 2007 when thief Obasanjo left office?

There was no scam. It was public knowledge that not all the debt was paid by Obasanjo but a portion relating to the Paris Club which was a huge chunk as debt servicing was huge and it constituted a drain on foreign reserves. At the point of payment in 2006, Nigeria still owed about $5bn to other lenders including world bank and private sector. As at June 2007, Nigeria owed 926 billion naira (domestic debt) and $3 billion foreign debt. This is about $8 billion in today's money (source: dmo.gov.ng). Contrast that to $64 billion quoted in the OP's post. Our total debt has increased by 800% and still no light. All the hitherto public utility companies have been sold and we are still acquiring more debt with record oil prices. The only scam there is PDP and we need them out ASAP. You don't corner all the oil money and then secure debt to build roads and expect us to applaud you. The oil subsidy scam was one of the greatest heist ever pulled and it was and is still a successful one!

DAVE5:

ehm... so if someone else's situation is worse than your's, you give yourself a pat on the back right, btw the USA you are quoting is in a lot better standing than we would EVER be, good roads, clean, employment, standard of living, electricity, correct strong stable and cheaper network (to browse till mama calls), the list goes on... so pls don't compare...

OK let me xplain more.if we borrow 50 trillion and our power sector become stable wo t U shoit up PDP?point Im trying to rais is debt is a must if development must go on.how and where do U want FG to ger the money to build roads.bridges and support various project.mind you the sole source of income for the payment of civil service os money derived from Oil sales which aint even enough

chemali:

There was no scam. It was public knowledge that not all the debt was paid by Obasanjo but a portion relating to the Paris Club which was a huge chunk as debt servicing was huge and it constituted a drain on foreign reserves. At the point of payment in 2006, Nigeria still owed about $5bn to other lenders including world bank and private sector. As at June 2007, Nigeria owed 926 billion naira (domestic debt) and $3 billion foreign debt. This is about $8 billion in today's money (source: dmo.gov.ng). Contrast that to $64 billion quoted in the OP's post. Our total debt has increased by 800% and still no light. All the hitherto public utility companies have been sold and we are still acquiring more debt with record oil prices. The only scam there is PDP and we need them out ASAP. You don't corner all the oil money and then secure debt to build roads and expect us to applaud you. The oil subsidy scam was one of the greatest heist ever pulled and it was and is still a successful one!

Give is any link to show OBJ ran our cointry at 0naira external debt plz

TonySpike:

Sure, I'm doing fine here. Got any new research as per our old areas of interest?

Nothing at moment, bruddah.

But I will keep you updated.

erico2k2:
OK let me xplain more.if we borrow 50 trillion and our power sector become stable wo t U shoit up PDP?point Im trying to rais is debt is a must if development must go on.how and where do U want FG to ger the money to build roads.bridges and support various project.mind you the sole source of income for the payment of civil service os money derived from Oil sales which aint even enough

However what have they done with the billions they borrowed?

And has this administration completed one project apart from the used two trains they gave a paint job?

erico2k2:
Give is any link to show OBJ ran our cointry at 0naira external debt plz

Can you read what I wrote before you respond? I said clearly at the point of payment Nigeria owed an additional $5bn to world bank and the private sector.

1stola:
You didn't comprehend my post. In the context, I didn't refer to all Niger Delta people...
just like people say ..."Not all muslims are terrorist...

There ia nothing to comprehend U need to realy chill make more research and sturdy how the world works.Have you ever been to the UAE? See if the owners of the land work.I dont wanna know what state U are frm but if not frm the ND tell me what your state contribute to the pocket of Nigeria.Im frm Delta State.my town is the size of Ikeja and we have 42 oil wells.There was nothing to show for the wells if not for the Emergence of our able leaders and the steong will of the youths whom you label as thieves in ur post.

SirShymex:

However what have they done with the billions they borrowed?

And has this administration completed one project apart from the used two trains they gave a paint job?

Realy you cant find anything they have completed?.I do t even live in Nigeria I bet Im more informed

4Play:

It is not popular to say this but public sector wages are higher than the economy can support. The proof is in the fact that we spend 70% of the FG's budget on recurrent expenditure - largely personnel costs.

You can also compare Nigerian public sector wages to wages of other countries who have a similar level of per capita income. You will find that Nigerian public servants are actually and relatively well remunerated.

This is fine if you are a university lecturer or a doctor but 99% of Nigerians are neither public sector workers or politicians.

To get to a fiscally sustainable path, we need to tackle corruption and the state wage bill. The country needs investment in infrastructure and education. When you hear that Ghana needs an IMF bailout, it is the state wage bill that provided the knockout blow.

Inside that 70% is the 25% for our SINators and legisLOOTERS as reported by ex-CBN chief Sanusi. That is understandable if they receive N29 million monthly for doing almost nothing.
It is up to all of us, Nigerians to talk about this until there is SUBSTANTIAL reduction of what can only be classified as their LOOT

anonimi:

Inside that 70% is the 25% for our SINators and legisLOOTERS as reported by ex-CBN chief Sanusi. That is understandable if they receive N29 million monthly for doing almost nothing.
It is up to all of us, Nigerians to talk about this until there is SUBSTANTIAL reduction of what can only be classified as their LOOT

You are right there my friend

ba7man: Has PDP being able to provide any of their states with Portable water??

Will u vote for me if I provide u with Portable water?

Mr Portable water.

Haha this is a typical case of one whom think govt should provide everything.Come ha e a look at the western countries you will realize govt dnt provide portable water.

What type of cretin was Thief Obasanjo to pay debt in cash lump sum at the twilight of his reign whilst no infrastructure was built' and Nigerians had been impoverished ?
That he paid any debt at all was meant to be his redeeming feature and help him get 3rd term - thank God it never worked.

Thief Obasanjo met about $27Bn external debt, and left about $10Bn; But he is so corrupt that his figures cannot be trusted; and it is not clear whether or not he invited IMF and World Bank officials into our Central Bank to manipulate figures to favour him.

It would be unwise to trust any thing that Thief Obasanjo said about debt, economy or money, as he has looted and laundered so money and has deliberately prevented his administration's finances to be audited till this very day.

Any good that could be attributed to him is more than overshadowed by the losses in incurred on Nigeria by handing away oil-rich land in Bakassi to Cameroon without getting permission of Nigerians

chemali:

There was no scam. It was public knowledge that not all the debt was paid by Obasanjo but a portion relating to the Paris Club which was a huge chunk as debt servicing was huge and it constituted a drain on foreign reserves. At the point of payment in 2006, Nigeria still owed about $5bn to other lenders including world bank and private sector. As at June 2007, Nigeria owed 926 billion naira (domestic debt) and $3 billion foreign debt. This is about $8 billion in today's money (source: dmo.gov.ng). Contrast that to $64 billion quoted in the OP's post. Our total debt has increased by 800% and still no light. All the hitherto public utility companies have been sold and we are still acquiring more debt with record oil prices. The only scam there is PDP and we need them out ASAP. You don't corner all the oil money and then secure debt to build roads and expect us to applaud you. The oil subsidy scam was one of the greatest heist ever pulled and it was and is still a successful one!

Vstuffs: Borrow borrow make me Rich

Visit
www.nairaland.com/1788943/get-complete-web-development-video

why not go and access d loan.
Media loan.

I really don't know why GEJ is performing so badly?

I do not think that he is personally a looter , but he is surrounded by a system full of looters. A system that Thief Obasanjo created with is business partner Evil IBB.

GEJ is bit like like President Shehu Shagari 1979-83, who was not personally corrupt but was clueless about how to stop corruption and looting of his colleagues. But at least Shagari seemed more able to defy the views of US and UK on some issues.

Same Thief Obasanjo who selected Shagari in 1979 also selected GEJ in 2007 (though as vice president at the time)

https://www.youtube.com/watch?v=E5hdcfFyahM

anonimi:

Inside that 70% is the 25% for our SINators and legisLOOTERS as reported by ex-CBN chief Sanusi. That is understandable if they receive N29 million monthly for doing almost nothing.
It is up to all of us, Nigerians to talk about this until there is SUBSTANTIAL reduction of what can only be classified as their LOOT

We are getting somewhere, can you also add the percentage taken by the presidency, I am sure by the time we add what the presidency is "looting", we will get to 40% out of the 70%.

erico2k2:
Realy you cant find anything they have completed?.I do t even live in Nigeria I bet Im more informed

You are funny guy. Rather than answer a simple question, you are answering a question with a next one - talking about where you live like I asked you. That is how folks fail exams.

Do I look like I live in naija or have ever lived there? The onus is on you to list the projects the FG has completed.

List them - I'm waiting.

As long as no one comes to ask me for money....I do not give a flying fig.

SirShymex:

You are funny guy. Rather than answer a simple question, you are answering a question with a next one - talking about where you live like I asked you. That is how folks fail exams.

Do I look like I live in naija or have ever lived there? The onus is on you to list the projects the FG has completed.

List them - I'm waiting.

No offence but you are sounding funny.frm my reply U would realize Im using my fone cos Im at wrk wen I get home I will provide links mate

erico2k2:
There ia nothing to comprehend U need to realy chill make more research and sturdy how the world works.Have you ever been to the UAE? See if the owners of the land work.I dont wanna know what state U are frm but if not frm the ND tell me what your state contribute to the pocket of Nigeria.Im frm Delta State.my town is the size of Ikeja and we have 42 oil wells.There was nothing to show for the wells if not for the Emergence of our able leaders and the steong will of the youths whom you label as thieves in ur post.

for your info, I'm half deltan and half Lagosian(badagry)
So, if you guys just want to be lazy and continue to drink from your 82 oil wells, nobody cares. I won't mind if this godforsaken Nigeria just divides. I'm tired all hearing all this "one Nigeria". Let everyone be one their own for us to actualize our potentials.

benswagtt: *dancin skelewu* hw e take concern ma future? Dats dia 4kin cup of tea!!!

soon thr will be no tea for u to drink...olodo.

GenBuhari: What type of cretin was Thief Obasanjo to pay debt in cash lump sum at the twilight of his reign whilst no infrastructure was built' and Nigerians had been impoverished ?
That he paid any debt at all was meant to be his redeeming feature and help him get 3rd term - thank God it never worked.

Thief Obasanjo met about $27Bn external debt, and left about $10Bn; But he is so corrupt that his figures cannot be trusted; and it is not clear whether or not he invited IMF and World Bank officials into our Central Bank to manipulate figures to favour him.

It would be unwise to trust any thing that Thief Obasanjo said about debt, economy or money, as he has looted and laundered so money and has deliberately prevented his administration's finances to be audited till this very day.

Any good that could be attributed to him is more than overshadowed by the losses in incurred on Nigeria by handing away oil-rich land in Bakassi to Cameroon without getting permission of Nigerians

Doubtless, Obj's administration was corrupt. Compared to GEJ admin, Obj was "ordinary stealing". The foundation of our current mess is Obj's doing. However, imagine for a second if the debt was not settled? The information regarding this debt is in public domain. I don't see any reason they should be doubted.

1stola:
for your info, I'm half deltan and half Lagosian(badagry)
So, if you guys just want to be lazy and continue to drink from your 82 oil wells, nobody cares. I won't mind if this godforsaken Nigeria just divides. I'm tired all hearing all this "one Nigeria". Let everyone be one their own for us to actualize our potentials.

I take it you live in Lagos right,

chemali:

Doubtless, Obj's administration was corrupt. Compared to GEJ admin, Obj was "ordinary stealing". The foundation of our current mess is Obj's doing. However, imagine for a second if the debt was not settled? The information regarding this debt is in public domain. I don't see any reason they should be doubted.

They seem to 4get that during OBJ.s time we had nominister of petrolume for 8 years, OBJ was in charge of Oil petrolume

I doubt authencity of Thief Obasanjo's economic figures.
A man that can deceive the nation for 8 years that Abacha looted by conducting fake court proceedings abroad and organising the return of phantom "Loot" that nobody has ever traced in our treasury accounts is capable of any level of deception.

For instance I do not know if any economist can explain how Thief Obasanjo managed to devalue Naira 500% from N22=$1 to N135=$1 whilst hiking fuel prices from N20/litre to N75/litre and still maintain Inflation steady at around 10%??

It does add not add up- his finances needs to be fully audited.

chemali:

Doubtless, Obj's administration was corrupt. Compared to GEJ admin, Obj was "ordinary stealing". The foundation of our current mess is Obj's doing. However, imagine for a second if the debt was not settled? The information regarding this debt is in public domain. I don't see any reason they should be doubted.

Yes,this is always the story of any country led by its worst!

GenBuhari: I doubt authencity of Thief Obasanjo's economic figures.
A man that can deceive the nation for 8 years that Abacha looted by conducting fake court proceedings abroad and organising the return of phantom "Loot" that nobody has ever traced in our treasury accounts is capable of any level of deception.

For instance I do not know if any economist can explain how Thief Obasanjo managed to devalue Naira 500% from N22=$1 to N135=$1 whilst hiking fuel prices from N20/litre to N75/litre and still maintain Inflation steady at around 10%??

It does add not add up- his finances needs to be fully audited.

Cos some people are so gullible and just employ the tactics of follow follow so the feel belonged.Any well Educated plus well informed person would know we are moving forward in Nigeria, we are better than yesterday, I believe any plus is positive however slow,its way better than negative, we seem to 4get all 2 quickly how we criticized the removal of subsidies now see what's happening now.

SirShymex:

You are funny guy. Rather than answer a simple question, you are answering a question with a next one - talking about where you live like I asked you. That is how folks fail exams.

Do I look like I live in naija or have ever lived there? The onus is on you to list the projects the FG has completed.

List them - I'm waiting.

, I have started with few links eh here we go
http://www.cknnigeria.com/2014/01/pictures-of-completed-abuja-lokoja-road.html
AND
http://www.fct.gov.ng/index15_04_14n.html?option=com_content&view=article&id=286:fct-ministers-wife-reaffirms-support-for-the-needy&catid=:latest
AND
http://kaanayo.com/index/blogs/list-of-gejs-achievements-as-president-do-you-agree/
AND
http://www.theinfostride.com/2014/01/giant-of-africa-nigeria-mobilises-700-million-for-trans-sahara-gas-project-says-gej/
AND THE BIG ONE

http://www.goodluckjam.org/?page_id=98

GenBuhari: I doubt authencity of Thief Obasanjo's economic figures.
A man that can deceive the nation for 8 years that Abacha looted by conducting fake court proceedings abroad and organising the return of phantom "Loot" that nobody has ever traced in our treasury accounts is capable of any level of deception.

For instance I do not know if any economist can explain how Thief Obasanjo managed to devalue Naira 500% from[b] N22=$1[/b] to N135=$1 whilst hiking fuel prices from N20/litre to N75/litre and still maintain Inflation steady at around 10%??

It does add not add up- his finances needs to be fully audited.

When OBJ assumed office in 1999, the exchange rate was around N90=$1

erico2k2:
I take it you live in Lagos right,

so

erico2k2:
, I have started with few links eh here we go
http://www.cknnigeria.com/2014/01/pictures-of-completed-abuja-lokoja-road.html
AND
http://www.fct.gov.ng/index15_04_14n.html?option=com_content&view=article&id=286:fct-ministers-wife-reaffirms-support-for-the-needy&catid=:latest
AND
http://kaanayo.com/index/blogs/list-of-gejs-achievements-as-president-do-you-agree/
AND
http://www.theinfostride.com/2014/01/giant-of-africa-nigeria-mobilises-700-million-for-trans-sahara-gas-project-says-gej/
AND THE BIG ONE

http://www.goodluckjam.org/?page_id=98

Blimey!

Really and truly, I was going to cuss you out. however, based on our previous chat about trains in the UK on a next thread and the fact that you live in London(I rate my fellow Londoners) - I'll give you pass. I'm sure by virtue of living here, you should be acquainted with what good governance is. That's if you're not the type that just go to work, and lock yourself inside your house calling naij almost 24hrs a day, like those mums - or those freshies who're always begging it, trying to be more English than the Queen.

Now take a look at the links you posted - with tons of on-going(uncompleted) inconsequential projects, and pray tell me that's the type of life-saving rojects I was alluding to. Water treatment plant in Abuja - like really? Two km roads here and there - are you having a laugh? Even the worst state governors in naij have completed far better projects. And if I were to post the achievements of all the worst despots that ever ruled in Africa - their non-existent achievements would dwarf whatever you posted up there.

Stop messing about - post REAL PROJECTS!

ghostwritter:
soon thr will be no tea for u to drink...olodo.

tel dat 2 dos who cares!