GenBuhari:
Buhari has a proven track record of almost stamping out corruption during his tenure as head of state.

Bakare has been a pastor who has shown he truely cares for the nation.

Buhari reduced inflation to 5% in just 1.5 years
https://www.nairaland.com/620012/why-vote-buhari-bakare

GenBuhari:
Buhari left the country

Naira so strong that 1N fetched 1$

It was 25k to $1 before he came

9ijaMan:

That's not true. You need not lie to make a point.
Visit the link below to view the historical trend of Naira against the US dollar.
http://en.wikipedia.org/wiki/Nigerian_naira

9ijaMan:

You got  caught pants down and the best you could do was to reference the post of someone else. That's absolutely ungentlemanly. By the way he said it was $1 to =N=1. It was actually $1 to 0.894 kobo.

In fact that increase must have been recorded when IBB came in. Buhari was ousted in August of '85. The article below buttresses my point.
http://dailytrust.dailytrust.com/index.php?option=com_content&view=article&id=12518:imfs-deadly-naira-devaluation-poison&catid=8:letters&Itemid=17

We know you are routing for GEJ, but you need not lie to make your point. You called for civility yer you act the exact opposite in your conduct. It's acts of indiscipline as this that has destroyed our nation and brought us to where we are today.

GenBuhari:
He took over when 31st Dec 1983  (Which is 1984 ) and exchange rate then was N 0.77 = 1 $  with  Naira depreciating fast with great momentum.

After just 1.5years in power  it was still N 0.89 = 1 $ when he left, so there was a slight depreciation but this is negligible considering that there was depeciation momentum from when he took over that had  to be arrested.

Now lets look at how other subsequent governments performed on our exchange rates since Buhari was overthown?

Buhari left exchange rate of    N1 = 1$   (which IBB inherited.)

IBB left office                         N18 = 1$ 

Abacha left office                   N22 = 1$

OBJ left office                    N125 =  1$      Hail OBJ,  Hail PDP  

Yara Dua left office                N171 = 1$

http://en.wikipedia.org/wiki/Nigerian_naira

Thank IBB (started killing us)  and his friend OBJ (finished us off - even with record oil prices) for our current predicament 

Both IBB an OBJ are PDP god fathers.

9ijaMan:

Chief I thought my original reply to you would make you do a bit of extra research. I laid the basis for you to do additional findings and then make your point with facts. Below is a news paper article stating precisely the exchange rate between $1 and the Naira.
http://thewillnigeria.com/opinion/4759-THE-IBRAHIM-BADAMASI-BABANGIDA-SAGA.html

According to that article, $1 exchanged for 0.765 Naira (or 76.5 kobo) when IBB took over on the 27th of August 1985. Admittedly Buhari may have met the dollar exchanging at 72.4 kobo when he took over (but it can as well be said that he met $1 at 0.765 Naira, 'cos he came in on the last day of 1983, which is essentially 1984). It should be noted however that the naira was bound to drop at least due to the political unrest which may have originally been stirred by the military take over. But Buhari kept it constantly at 0.765 Naira (76.5 Kobo) to $1 throughout his tenure.

These evidences debunks your argument that the absence of hard currency contributed to the drop in the value of Naira. In reality the Naira practically did not drop in value compared to the US dollar when Buhari led the nation.

I'll join egift to solicit your apology to the OP, 'cos you have not only lied but slandered against the person of Buhari. At least you'll prove to be a different breed from the regular GEJ supporter!

9ijaMan:


Why are you hell bent on peddling falsehood. You are stubbornly defending a stance that you have failed to provide evidence for. The figures shown in the CBN document in the link you posted showed the exchange rate on a yearly basis without specifically mentioning the months. Buhari came in on the 31st of Dec. 1983 (this can easily be taken as 1984). According to the CBN document, the exchange rate was 0.76 Naira to $1 in 1984 which is very much consistent with the data I provided earlier.
Buhari was ousted on the 27th of August 1985 and the news article confirmed that the exchange rate on that day was 0.765 Naira to $1 dollar. How on earth you came up with 34% depreciation befuddles me. I wonder the sort of school you attended that makes you think exchange rate is a static value which remains the same from the 1st of January to the 31st of November.

Can't you for once in you lifetime be truthful? There is really nothing civil about you blind argument. No one is scoring political points for Buhari. Apparently you are the one who's trying to justify your prevarication. You lied and it was pointed out to you. The best you can do is to apologize else you simply keep mute.

Continuing this way will only further expose your awful ignorance.

I'm glad I forced you to work your brains a bit. At least for the first time a GEJ supporter is forced to exhume evidences and facts from the internet. My disappointment is just that you still wanted to twists the facts! You can proceed in your ignorance and do not think you can fool people by peddling half truths and outright falsehood.

I am not peddling any falsehood.
Your source said that his source is central bank website. I quoted for you what is written in central bank website but you rejected it for an article published in TheWill.

If you cannot get an authentic source for me, then it means your article misquoted. or deliberately used the lower figure because he was trying to put IBB in a bad light.

Can you please get me the source where it was stated that the exchange rate on 27th August, 1985 was 0.765?
The foreign reserve of Nigeria depreciated from 6months import allowance in 1980 to just 2 months at the end of 1985
Moser et al

The exchange rate as at that time was expressed as nominal effective exchange rate (import-weighted basket of currencies) a method very different from the market determined exchange rate used today.
Therefore the exchange rate for a month is the average of the daily exchange rates which in turn was determined by the import vs export ratio of in seven currencies in the weighted basket. It is very clear from the link above and many other sources that Nigeria was importing more than it was exporting which was the reason why the foreign reserve was depleted reflecting huge reduction in govt savings. How could the exchange rate be stable in that condition.

's[b]hort-run fiscal stabilization measures and quantitative trade controls dominated the adjustment efforts, while underlying economic and financial condition continued to worsen'- moser
[/b]
In other words, Buhari did not do any thing economical. His economic policies like I said before were artificial and physical and had no effect on the countries economy.

In this thread https://www.nairaland.com/nigeria/topic-605263.0.html

You argued with your cronies that Buhari was responsible for the 5% inflation in 1985 even though he left office in August. You did not look for the inflation figures per month. You argued that 4 month was not enough to reduce inflation but now you think that 4 months was enough to shoot up exchange rate. You want us to believe that the effect of 4 months exchange rate would have significantly influenced the overall average. May be you provide evidence
to convince me also if you are not being biased in your analysis.

As to how a I came about the % depreciation which should have been 26.4% not 34% is very clear on the table.
He recorded 11.6% depreciation in 1984 and a further 14.6% in 1985. Add that together general.

9ijaMan:


You keep digging yourself deeper and deeper into a complete web of lies. When a person tells a lie, he'll need another 10 lies to cover the first lie if he does not want to get caught and each of those 10 lies would need another 10 lies again for coverup.

I would not want to go into any epistle to show you your level of ignorance and absolute illiteracy when it come to economic matters of the Nigerian state. Below is a link to a write up by the current CBN Governor, Sanusi Lamido Sanusi on the impact of Buhari's economic policies on the Nation.

I hope you read it and comprehend the contents. Ruminate on the article and then figure out where you've peddled lies n you previous posts on this thread and then make amends.

http://www.triumphnewspapers.org/why18112010.html

GenBuhari:

@agabaI23,
Did u miss my last post? I wrote the following:

Buhari took over when 31st Dec 1983  (Which iwe should call 1984 ) and exchange rate then(1984) was N0.77 = 1 $  with  Naira depreciating fast with great momentum left over from Shagari's government.

After Buhari was overthrown, it was still N0.89 = 1 $ when he left, the slight depreciation was negligible considering that there was depeciation momentum from when he took over that had  to be arrested.

This was only a  very small 15.6% depreciation  considering the depreciation momentum left by Shagari and that Buhari had spent his first few months paying off debt left by Shagari.

Buhari left exchange rate of    N1 = 1$   (which IBB inherited.)  Depreciation  16%


Lets look at depreciation under tenor subsequent leaders.

                                                                                                                    %  Depreciation

IBB left office                         N18 = 1$                                                            1700%   

Abacha left office                   N22 = 1$                                                            22%

OBJ left office                       N125 =  1$      Hail OBJ,  Hail PDP                         468%   

Yara Dua left office                N171 = 1$                                                           37%


http://en.wikipedia.org/wiki/Nigerian_naira

Thank IBB (almost killed us)  and his friend OBJ (finished us off - even with record oil prices) for our current predicament 

Both IBB an OBJ are PDP god fathers.

Can you remind me why EFCC has not probed IBB and OBJ?

9ijaMan:

You keep digging yourself deeper and deeper into a complete web of lies. When a person tells a lie, he'll need another 10 lies to cover the first lie if he does not want to get caught and each of those 10 lies would need another 10 lies again for coverup.

I would not want to go into any epistle to show you your level of ignorance and absolute illiteracy when it come to economic matters of the Nigerian state. Below is a link to a write up by the current CBN Governor, Sanusi Lamido Sanusi on the impact of Buhari's economic policies on the Nation.

I hope you read it and comprehend the contents. Ruminate on the article and then figure out where you've peddled lies n you previous posts on this thread and then make amends.

http://www.triumphnewspapers.org/why18112010.html

9ijaMan:


IMO you are the confused person here. Let's just assume your insinuation to the bold statement above is true, just for the sake of argument. How would you compare that with GEJ's numerous gaffes.

We know those who are behind the October 1 bomb blast, with obvious reference to IBB, only for GEJ to make a 180 deg volte-face to now claim IBB is his father who has been advising him since his days as a governor in Bayelsa state.
Perhaps you have also forgotten the statement he made on the same October 1 issue absolving MEND totally off any wrong doing while it is glaring today that he is now trying to prosecute the same MEND.
Abi na the purported text message GEJ hurried showed on NTA news attempting to link Dokpesi with he event,and today Dokpesi is now in his campaign team with all charges against him dropped. The list of his double talk/speak is endless. These are just a few.

So tell me, who's more confused between Buhari and you brother GEJ?
You've been warned to do your findings well before you make unfounded and baseless assumptions, statements or conclusions.

9ijaMan:

IMO you are the confused person here. Let's just assume your insinuation to the bold statement above is true, just for the sake of argument. How would you compare that with GEJ's numerous gaffes.

We know those who are behind the October 1 bomb blast, with obvious reference to IBB, only for GEJ to make a 180 deg volte-face to now claim IBB is his father who has been advising him since his days as a governor in Bayelsa state.
Perhaps you have also forgotten the statement he made on the same October 1 issue absolving MEND totally off any wrong doing while it is glaring today that he is now trying to prosecute the same MEND.
Abi na the purported text message GEJ hurried showed on NTA news attempting to link Dokpesi with he event,and today Dokpesi is now in his campaign team with all charges against him dropped. The list of his double talk/speak is endless. These are just a few.

So tell me, who's more confused between Buhari and you brother GEJ?
You've been warned to do your findings well before you make unfounded and baseless assumptions, statements or conclusions.

GenBuhari:
@agabaI23

So you support IBB?

A man who is a western stooge that wrecked our nation?

Devalued our currency by 1700% ?  

Freed all the corrupt politicians jailed by Buhari and allowed them to keep most of their loot?

Embezzled trillions of Naira?

Next you gonna say that OBJ performed also, abi?  

Na wa for u

No I do not support IBB. In that decision, IBB was realistic.

There was a post I made in 'what we did not know about Buhari' thread. In the post , I said that IBB set out like a good man with good intention when he started. But just a way down the line, he brought out his real colours.
What killed us was corruption. He is corrupt. He stole the country dry and introduced chop make I chop method of embezzlement which brought the economy to its knees. From there the rot continued.

But by introducing Market determined forex, IBB was realistic.
Are you out shock yet?

9ijaMan:

You have not raised any concrete issue in you post except to selectively choose which document to believe in and which one to drop. When you said that I lost hope in discussing with you.

9ijaMan:

.
Nevertheless, the CBN document you provided did not mention what the exchange rate was when Buhari came into power.

9ijaMan:

Secondly it amounts to intellectual deficiency in economics and absolute foolhardiness for you to assume/conclude that the exchange rate for USD is a single figure for a whole year. I showed (and forced) you some evidences and the best you've been able to do is to come up with a CBN document that does not fully address the issue at hand.

agabaI23:

You argued with your cronies that Buhari was responsible for the 5% inflation in 1985 even though he left office in August. You did not look for the inflation figures per month. You argued that 4 month was not enough to reduce inflation but now you think that 4 months was enough to shoot up exchange rate. You want us to believe that the effect of 4 months exchange rate would have significant influenced the overall average. May be you provide evidence
to convince me also if you are not being biased in your analysis.

9ijaMan:


You lied and I repeat for emphasis, you lied when you attempted to turn logic on it's head and came up with some fake/wrong percentage figures to justify your lies.

9ijaMan:


If you really want to make your point, come up with additional evidences which shows precisely what the exchange rate was on the 1st of January 1984 and compare it with what the figure was on the 27th of August 1985. It's will be utter stupidity for anyone to blame Buhari for the exchange rate figure by the end of December of 1985, since he left office over 4 months before the end of the year.

9ijaMan:

Here's another lie from you again:
How dare you come up with this cheap line? Your problem is that you keep jumping from pillar to post yet you have not been able to disentangle yourself from your web of confusion. I hope you've gone through Sanusi Lamido's article about Buhari's economic policies. If someone of Sanusi's status could praise Buhari's economic policies that much, na who you be with this your shallow economics knowledge to make the statement you made above. It's either you are absolutely ignorant or you simply cannot comprehend simple economic indices. This is simply another set of lies you are trying to use to cover your previous gaffes.

9ijaMan:

Yet again you made another gaffe in your attempt at praising IBB's economic policies while you condemned Buhari's.

Even the lamest economists know that IBB's economic policies ruined Nigeria and I need not go into the details of that, as that's not the topic of discuss. You need to do your homework very well instead of dwelling on a single incomplete source of historical data. The internet is awash with tonnes of data and it'll only take you a few minutes to get informed.

Produce data about the average monthly exchange rates during Buhari's rule. It's only when ou are able to do so, your basis of argument is baseless and completely untrue.

GenBuhari:

Buhari's economic poicy that reduced inflation  from 23% to 4% u are questioning?

GenBuhari:


Buhari' economic policy that paid off our debt in 1.5 years?

The observed worsening economic and financial conditions and alleged widespread
corruption led to a military coup at the end of 1983.  The new regime (under General Buhari)
reinforced the austerity measures while additional exchange and trade restrictions were
announced in 1984.  The fiscal and monetary measures announced were aimed drastically
reducing domestic demand pressures.  The government also implemented expenditure cuts
and substantial tax increases.  The expenditure cuts were particularly successful in the short
run and they reduce the overall federal government fiscal deficit to a significant percentage in
1985.  As a consequence, the governmentís recourse to bank credit was virtually eliminated
and inflationary pressures were significantly reduced.
However, the governmentís austerity measures did meat with some setback.  The emphasis
on short run stabilization measures reflected the governmentís belief that Nigeriaís economic
and financial problems were transient and would eventually disappear with a recovery in oil
export prices.  In the event, oil prices did not recover, and it became clear that the
stabilization policies had failed to address the underlying economic problems.  Thus,
crippling import shortages and growing social and political discontent set the stage for
another military coup (under General Babangida) who assumed power in October, 198.  After
considerable popular debate, the Babangida Government adopted in June 1986 a
comprehensive structural adjustment program (SAP) that signaled a radical departure from
previous adjustment efforts.  It emphasized reliance on market forces and deregulation.  The
objectives of the SAP were to restructure and diversify the productive base of the economy
so as to reduce dependency on the oil sector and imports; achieve fiscal and balance of
payments viability over the medium term; and promote non-inflationary economic growth.   10
The key policies designed to achieve these objectives were the tightening of financial
policies; the adoption of a market determined exchange rate; the Liberalization of the
external trade and payments system; the elimination of price controls and commodity boards;
the decontrol of interest rates; the rationalization and restructuring of public expenditure; the
rationalization of the tariff structure and the overall lowering of tariffs; and the privatization;
or commercialization of most federal public enterprises.
During this period, some of Nigeriaís earlier anti-export bias in manufacturing disappeared
with policy reforms, and producers switched from imported to local inputs.  Particularly in
agro-processing and textile manufacturing, there was greater use of locally produced
materials.  The assembly-based manufacturing, which had depended on imported inputs and
been shielded from competition and market signals, contracted.  But the industry as a whole
grew by 3.5 percent per year (1986-1990); similarly, production of traditional food crops and
cash crops increased and agricultural output grew at 4.7 percent per year on average.  
However, the gradual loss of macroeconomic control after 1990 eroded many of the positive
changes that took place in the preceding years and have begun impacting negatively real
economic indicators.  Although significant progress was made in the liberalization of the
economy, specifically through reform of the exchange and the trade system and the freeing of
prices, macroeconomic policy implementation remained erratic and failed to bring inflation
under control.

GenBuhari:


Buhari's ecomomic policy to preserved our currency at better than N1.00 = $1.00?

GenBuhari:


BB has no policy?

The policy is to eradicate corruption.

Fix power sector / electricity

Tackle crime and make streets safer

rapidly industrialize the country

"I will continue to show openly and inside me the total commitment to the Sharia movement that is sweeping all over Nigeria," Buhari said, quoted in press reports.

"God willing, we will not stop the agitation for the total implementation of the Sharia in the country," Buhari said.

9ijaMan:


I'm certain you did not read your post before clicking the reply button. You have based your choice on a simple premise even if you fail to admit it. You are a religious bigot who only cares about the faith of anyone who leads the nation. From your post above you clearly stated that both Buhari and Ribadu have some past records to live on or hype about yet you decided to go for GEJ who does not have any achievement to his name despite being in government in one form or the other for the past 12 years.

In your previous posts you rejected any other evidence as long as it does not come from CBN but you are quick to quote 234next.com in referencing what Buhari did not say.
Below is a link to one of the numerous interviews of Buhari where he explained himself. I hope you won't come back here again and tell us that it was not Buhari who was being interviewed.

[url=
https://www.youtube.com/watch?v=JITI0dRDjD4&feature=related[/b]]http://www.youtube.com/watch?v=JITI0dRDjD4&feature=related[/url]

I told you earlier that you'd be caught when you lie. This is another clear case!

One is only too aware that some Nigerians love to point to Buhari’s agenda of discipline as the shining jewel in his scrap-iron crown. To inculcate discipline however, one must lead by example, obeying laws set down as guides to public probity. Example speaks louder than declarations, and rulers cannot exempt themselves from the disciplinary strictures imposed on the overall polity, especially on any issue that seeks to establish a policy for public well-being. The story of the thirty something suitcases – it would appear that they were even closer to fifty - found unavoidable mention in my recent memoirs, YOU MUST SET FORTH AT DOWN, written long before Buhari became spoken of as a credible candidate. For the exercise of a changeover of the national currency, the Nigerian borders – air, sea and land – had been shut tight. Nothing was supposed to move in or out, not even cattle egrets.



Yet a prominent camel was allowed through that needle’s eye. Not only did Buhari dispatch his aide-de-camp, Jokolo – later to become an emir - to facilitate the entry of those cases, he ordered the redeployment – as I later discovered - of the Customs Officer who stood firmly against the entry of the contravening baggage. That officer, the incumbent Vice-president is now a rival candidate to Buhari, but has somehow, in the meantime, earned a reputation that totally contradicts his conduct at the time. Wherever the truth lies, it does not redound to the credibility of the dictator of that time, General Buhari whose word was law, but whose allegiances were clearly negotiable.

agabaI23 post=29088789]quote author=GenBuhari:

How does the 50 cases dent Buhari's intergrity?
Let us hear what

[flash=600,400]
https://www.youtube.com/watch?v=JITI0dRDjD4[/flash]



One is only too aware that some Nigerians love to point to Buhari’s agenda of discipline as the shining jewel in his scrap-iron crown. To inculcate discipline however, one must lead by example, obeying laws set down as guides to public probity. Example speaks louder than declarations, and rulers cannot exempt themselves from the disciplinary strictures imposed on the overall polity, especially on any issue that seeks to establish a policy for public well-being. The story of the thirty something suitcases – it would appear that they were even closer to fifty - found unavoidable mention in my recent memoirs, YOU MUST SET FORTH AT DOWN, written long before Buhari became spoken of as a credible candidate. For the exercise of a changeover of the national currency, the Nigerian borders – air, sea and land – had been shut tight. Nothing was supposed to move in or out, not even cattle egrets.



Yet a prominent camel was allowed through that needle’s eye. Not only did Buhari dispatch his aide-de-camp, Jokolo – later to become an emir - to facilitate the entry of those cases, he ordered the redeployment – as I later discovered - of the Customs Officer who stood firmly against the entry of the contravening baggage. That officer, the incumbent Vice-president is now a rival candidate to Buhari, but has somehow, in the meantime, earned a reputation that totally contradicts his conduct at the time. Wherever the truth lies, it does not redound to the credibility of the dictator of that time, General Buhari whose word was law, but whose allegiances were clearly negotiable.
-Shonekan

I hope that answers your question?

nduchucks:
And your point is