Ezemust:
i shouldn't have quoted u.

barcanista:
You seem not to understand macro economics and governance.

1. The Price of Oil was off-shooting than what was obtained during Obj's era. Yet we didn't experience any growth in Foreign Reserve
2. When Yaradua took over, price of Oil was HIGH and our reserve was going higher and Higher to peak at all time high. It started to dip during the recession, when the oil fell at $30 per barrel. Even at that it wasn't that depleted, and the Change in External Debt was $4 Million
3. Jonathan took over power, the Oil price was soaring, rather than reserve to soar like other regimes, it deepened. Rather than him to take care of external debt, he borrowed more.

Who is the worst administrator?

automaticcars:
^
^^
^^^

The three posters after op are very stup.id. Why attacking the op instead of saying any disagreement they have with the data the op has given us?

You guys are very fooli.sh. Dumb and fooli.sh indeed.

Opiosko:
Lol! It's not about having access to more money, but what u are doing with the money. How much has GeJ used to reform ur amajiri terrorists recruitment camps to rescue northern children and give them a future?.. How much has been spent in reforming our military to help counter Buhari islamic insurgency?.....

Chris95:
If u ask me Obasanjo did more looting dan anyoda administration.... did u knw dat during his tenure dia was a tym USA came and bought crude oil worth over $100 billion dollars 4rm Nigeria and dat was when Nigeria's external reserve shot up, pls take note...its nt as if he did any magic. And he ended leaving $45 billion dollars I wonder wat happened to d oda $55 billion dollars :/

dahmelawlah:
if there is no percentage change in spending year on year from OBJ to GEJ, then why is there so much percentage change in budgetary allocations?

barcanista:
I am a fool because I am taking my time to educate Nigerians? We all know who the fool is here

Mogidi:


Not forgetting the other presidents didn't have the same dynamics GEJ is governing under.

Nigeria did not become Africa's economic power house because Gej is imprudent.

Odutodaiwa:


Barcanista, seriously how do you cope dealing with all the brain dead ediots you are responding to. Honestly, I do not have the patience to respond to the TANoids and saTANists. I cannot teach dullards even if you offer me all the billions in this world. For me, what I owe Nigeria is to mobilise my household to kick out this mad man of a president come 14th February 2015.

Enough is enough.

datolee:


Please Sir, I'm not a spokesperson for GEJ. My stand is that we must play politics devoid of distorted fact, in worst cases outright lies and selling them as truth. Moreover we should stop re-packaging old time coupist as the Messiah of our time

datolee:
First of all, I must thank barcanista for presenting facts, My position has been, if you must campaign, please do so with facts and not some lies. (Please lets cut out insult and debate like matured people, we will have so much to learn, the only winner here is Nigerians who will become more enlighten and take our government to task)

I'm not here to defend the government, but lets go

1. Before talking about external debt, we must first talk about the revenue and expenditure under these government. We must know that Nigeria's expenditure has been increases on yearly bases, has revenue kept the same pace?

Lets talk about aggregate expenditure from 2004 (the one I could get my hands on)

2004 expenditure was 1.79 trillion

2005 = 1.799 trillion Naira

2006 = 1.876 trillion naira

2007 = 2.266 trillion naira

2008 = 2.492 trillion

2009 = 2.870 trillion

2010 = 4.608 trillion

2011 = 4.226 trillion

As a matter of fact the total expenditure on recurrent expenses was more than the total expenditure in 2007

http://www.slideshare.net/statisense/emperical-analysis-of-nigeria-budget

So my point is this, we have more commitment now than we had during Yaradua and Obj times yet the revenue haven't so much increased (I haven't the fact right now). So the increase in debt is because the government is faced with more expenses, GEJ expended in 2011 about 2 times the expenditure of OBJ in 2007.

By the way, from your post, I would think that GEJ have not done too bad in terms of external debt and here is my analysis

After paying off Nigeria's debt through the paris club whatever, OBJ still borrowed $3.3 billion

Since 2009 that GEJ has been in office, the FG has borrowed $2.42 billion (6.36 - 3.94)

2) When we talk about external reserve depletion, we must look at the value of the Naira! By refusing to devalue the Naira during the tennure of SLS as CBN governor, Nigeria has been using the external reserve to defend the naira... case in point http://www.nigeria-news-world.com/2013/09/i-will-defend-naira-with-reserves-sanusi.html#.VFxC7_mUf-E

As a matter of fact, using external reserve to defend the naira was the brainchild of SLS so much so that the external reserve started raising again once he was removed from the office https://www.nairaland.com/1847921/aftermath-sanusis-sack-foreign-reserve

Here is naira exchange to dollar history https://www.nairaland.com/498412/nigeria-exchange-rates-dollar-history

So let me recap my point

1) External debt increased because we have more expenditure and revenue haven't kept the pace (still trying to find Nigeria's revenue history) plus the issue of theft of crude and output disruptions http://www.bloomberg.com/news/2013-10-31/nigeria-finance-ministry-says-revenue-gap-may-reach-12-billion.html

2) GEJ haven't done so bad with borrowing, infact, OBJ borrowed more than him

3) External reserve was deplated because SLS prefer defending the Naira with external reserve than devaluing the naira

I hope we will as usual, keep it a clean debate. Thanks

AdeCisco:
@barcanista " Never argue with fools 'cos people in the rear view won't distinguish the difference between you two" ( in Jay-Z's voice)

Take substance over form always!

Being right or being wrong is a function of time. Just save the thread and pray for life to know the answers in future.

We are just as good and intelligent as the leaders we follow.

God has given the rulership of this world to the devil for some time so why argue your life to death? It is God that has used the foolish things of this world to confound the wise. If not who is GEj?

karlmax2:
that is their behaviour they hate facts because they thrive on falsehood.when they are presented with facts that they can't disprove they result to insult.this reserve his shouting about was shared between fg,state and local government but instead of him to ask his state and local government that is closer to him who he voted into power to provide all his basic amenities to account for the share they collect from the reserves. his trying to lay the blame of the doorstep of fg.

Opiosko:
Macro econs or Micro econs, my point is that these presidents faced different challenges and GeJ's is one that has not been seen before. How much have we spent on military hardwares alone to upgrade our military in the past few yrs?..

barcanista:
The person you quoted was being sarcastic. It is either you can't comprehend or you have no clue. The progressives are attentively READING and their positions will be known. You and your likes should stop Cheer-leading without any substance

viczing:
Whats shall it profit barcanista after all this post come feb 14 gej wins again. I hope you don't show up your sorry ass again here on NL.

You fighting to make a point why not go to TV organised forum and table that making silly thread that your fellow janjanweed will only support you. Get a life.

Obiagelli:

You must be a clown, you talked about recession hitting government hard in 2011 and i asked what the price of crude was in 2011, lets see how hard it hit our government.
I see you like shadows a lot, blanket statement don't do it for me. Bye

Barcanista, he is all yours.

Firefire:
Bacanista,

I am here to support my comrade Detolee.

datolee:


Be guided, the budget wasn't for purchase or arms alone!! it is total defence budget for a year which in all honesty isn't very much when you compare to other countries and the devil we are currently fighting.

If we must ask questions, where are the weapons purchased under OBJ and Yaradua,.. the simple answer is that when you minus the recurrent expenditure, there is little left to buy modern weaponry

Ifebazz:

'Am' before 'I'. Don't APC teach you guys English before feeding you with anti Jonathan cum PDP lies at least?

LouisVanGaal:
.. be guarded as well..have you forgotten that it was under these C-In-C that BH grew rapidly in leaps and bounds; boasting of Sophisticated
weapons and APC's in their ranks FACTS: They were stolen from the Military, under your C-In-C's nose

LouisVanGaal:
.. trying to educate a dunce like you is akin to doing civic duty! Until you and I start grasping the correlation between Micro/Macro- Economics and Governance; then the Govt would stop 'calling' figures for us, as NOI is doing...we've the best Economy on Paper, but is it reflecting on the situation of the Average Masses Think TANoids!

Opiosko:
U are really working hard spending sleepless nights to earn ur next pay. I wish u could channel such effort to something that's worth it.

InvertedHammer:


Minimal fund was expended to upgrade the military.
Their book said billions was spent. But the military said the got nothing and had resorted to running than I facing BH.

The idiotic thing is that you are defending an administration that cares less if you live or die. When you are done, you can pat yourself on the back and continue to live in squalor while your future and the future of your children are mortgaged to economic hawks.

By the way, GEJ just got additional billions to fight BH, extra-budgetary if I may add.

I don't live in Nigeria. I have never belonged to any political party in Nigeria. My take on the issue is an objective appraisal of the issues at hand from a neutral standpoint.

I think APC folks lack common sense if they think Buhari can win any election in Nigeria. In 2015, Nigerians have a tough choice to make between a slow-poke and a religious bigot. None of them should have been fielded in the first place if we consider the quality of other better alternatives that lack the wherewithal, conviction and "balls" to contest.
/

datolee:


Valid question, Do I want change.. hell yes, but I have my conditions

1. I would rather GEJ continue than Buhari

2. If we must criticize this governement, let's do so with facts not lies

3. and if you must promote your candidate, please don't sell lies

I'm clear now sir?

karlmax2:
i hope you know that a countries external debt includes those borrowed by states ? And Nigerians know the states that has mogaged the life of their unborn children with loans to service the ego of a certain Tinubu.this debt includes the one FASHOLE collected for school project he didn't do and ran to court when asked to account for it the one fayemi used to buy that 50million naira bed was also part of the debt and the ameachis private jet too.
So don't make it seem as if the debt is federal government alone .it includes the loans fg signed off for states