barcanista:
U don't expect me to be arguing in cycle with clowns. I'm not here to convince any APC troll but to set record straight.

There is $30b reserve and $2bn ECA! Period

The group members are bunch of Iliterates.

They failed to realize that it wasn't jonathan administration that left money in the reserve but it was OBJ and Yaradua administation, Jonathan administration depleted the foreign reserve that was saved by OBJ and Yaradua to $30 billion from about $50 billion.
Despite the administration enjoyed the highest price of crude oil ever in history, one would expect the foreign reserve to grow to a large extent but instead they still went to loot out of the foreign reserve.

MizMyColi:
Waow.
So Saint Buhari Lies Too?

This is interesting...

The group members are bunch of Iliterates.

They failed to realize that it wasn't jonathan administration that left money in the reserve but it was OBJ and Yaradua administation, Jonathan administration depleted the foreign reserve that was saved by OBJ and Yaradua to $30 billion from about $50 billion.
Despite the administration enjoyed the highest price of crude oil ever in history, one would expect the foreign reserve to grow to a large extent but instead they still went to loot out of the foreign reserve.

sheriffman:
It pains me to read Nairaland everyday and see the reactions of many to national issues.like I have always maintained many kids are now here and for the few adults many are still blinded by ethnic and or religious affiliations.That crazy group is saying PMB lied can't handover notes be forged?

And why is it that people who disagree with your point of view are either blinded by ethnic or religious affiliations. ? Is that not the definition of bigotry?

OrlandoOwoh:
saTANoids are yet to answer how a government that now claims to have money in its reserve borrowed, not for infrastructure, but to pay salaries.

God bless the President.

Let me spell it for u hopefully u will get it

Reserve is for the 3 tiers of government
Fg/state /LG can just dip bowl into the reserve it must be shared

Fg account is d only source Fg can dip bowl, storex or anything and spend
Fg pay salaries of workers, contractors, MDAs, pay other appointees, draw salaries and allowance Nd others

Wen oil down dive to $46
Salaries and others didn't decrease and dey must be paid
D allocations is not enough since the govt is nt a bad debtor Lyk aregbe dey borrowed

Baba One Chance should just get to work on delivering on his many campaign promises instead of making FALSE excuses.



https://www.nairaland.com/2275271/buharis-apc.s-campaign-promises





[img]https://www.nairaland.com/avatars/rfpz2aiih02arcv4l0q6myapvub3qyub1364484[/img]




[img]http://1.bp..com/-w3616-MiOlY/VMS-W-IAuUI/AAAAAAAEXj0/puKhCx2TjBk/s1600/1.jpg[/img]

HzRF:

Let me spell it for u hopefully u will get it

Reserve is for the 3 tiers of government
Fg/state /LG can just dip bowl into the reserve it must be shared

Fg account is d only source Fg can dip bowl, storex or anything and spend
Fg pay salaries of workers, contractors, MDAs, pay other appointees, draw salaries and allowance Nd others

Wen oil down dive to $46
Salaries and others didn't decrease and dey must be paid
D allocations is not enough since the govt is nt a bad debtor Lyk aregbe dey borrowed

Thank you for the free education you gave OrlandohOwoh.
Please permit me to reinforce the message by sharing these =>

FG, States, LGs Share N568.4 Billion for Oct
15 NOVEMBER 2013

Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that [size=14pt]the states had requested for $2bn[/size] to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

Tinubu Tackles FG, CBN On Excess Crude Oil Sales Account
Feb 22, 2001

The Lagos State Governor, Senator Bola Ahmed Tinubu, yesterday joined issues with the Federal Ministry of Finance and the Central Bank of Nigeria (CB N) over the recent face-off between the different tiers of government on the excess crude oil sales reserve account of US$ 1. 8 billion which is about N198 billion.

Expressing concern at the impression being created that the economy is rudderless, Tinubu argued that the central issue transcends the release or non-release of the fund into the Federation Account.

In his words: “The fundamental issues and principles at stake go much deeper. They are more broadly about the rule of law and the supremacy of the constitution on one hand, and the need for cooperation and coordination in a true federal structure, as a basis for sustaining and strengthening our fledgling democracy on the other hand”.

Governor Tinubu disagreed with the CBN's position that [size=14pt]release of the excess crude reserves to the states and local governments, though legitimate[/size], would lead to inflation; cause a rundown of the nation's foreign reserves; weaken the exchange rate further and run counter to agreements reached with the IMF.

The Governor contended that "in a period of excess capacity and low purchasing power, there should not be undue inflationary pressures from an injection of funds into the economy. Instead, such a development should be beneficial to economic activity and growth, despite the fact that there are supply rigidities and inefficiencies which would limit the potential benefits”.

On the purported likely impact on foreign reserves, Tinubu argued that "in an import-dependent economy such as ours, it is inevitable that an upturn in the level of economic activity would engender a fall in foreign reserves. This is not necessarily a bad thing. Rather, it would be immoral to appear to be building up high foreign reserves in the midst of grinding poverty”.

He stressed further that if the N198 billion released is matched by an equivalent US$1.8 billion, there should not be a fall in the value of the Naira as the supply of dollars would be in place to match any increased demand”.

Tinubu also said it would be unfair for the federal government to agree unilaterally to commit revenues due to other tiers of government, to an agreement with the IMF or anyone else.

Attributing inflationary pressures in the economy largely to the federal government's overspending and printing of money to finance such expenditure, Tinubu said "It is hardly fair for the FGN to overspend and then seek to correct the inflationary effect on the economy by starving other tiers of government of their rightful funds”.

Stressing that there is no basis for CBN or any authority to flout the constitution and deny states and local governments their own share of the Federation Account, Tinubu noted that "the excess crude reserve account is itself an illegality, carried over from the military era, as there is no provision in the law or the constitution for federally - collected revenues to be diverted to such an account”.

Advocating constructive dialogue on the management of the economy Governor Tinubu said "it is time for us to sit down and dialogue about how to move from where we are now, to where we need to get to, while respecting true federalism in fiscal and other matters”.

From: http://asiwajubolatinubu.com/archives/news/2001/02/22/20010222N01.html

HzRF:

Let me spell it for u hopefully u will get it

Reserve is for the 3 tiers of government
Fg/state /LG can just dip bowl into the reserve it must be shared

Fg account is d only source Fg can dip bowl, storex or anything and spend
Fg pay salaries of workers, contractors, MDAs, pay other appointees, draw salaries and allowance Nd others

Wen oil down dive to $46
Salaries and others didn't decrease and dey must be paid
D allocations is not enough since the govt is nt a bad debtor Lyk aregbe dey borrowed

Learn how to punctuate, for easy understanding. How can you write in up to three paragraphs without a punctuation mark?

conyema12:
Am sorry to say that APC as a Party was built on the foundation of lies.
Such a party will not stand the test of time.
This can be seen in the present day House of Assembly.

Most of their assertions are deceitful. I know the previous administration did carry out some level of financial recklessness. However l feel APC should be more objective in their publicity and claims.

you don't need to be sorry for saying the truth

A presidency obtained through lies must continue to lie and lie to cover up and cover up old lies.
A prepared president would have started making money for Nigeria, instead of coming to the open to talk about the treasury, all aimed to berate his predecessor. Is the era of election campaign not yet over for PMB?

OrlandoOwoh:

Learn how to punctuate, for easy understanding. How can you write in up to three paragraphs without a punctuation mark?

Now u have nothing else to fault in his post,you have to go so low as to fault his writings.

Can't u guys accept defeat without hate,lies or cheap propaganda.

I'm nonpartisan but APC as a party isn't doing to well for democracy with all this lies,cheap blackmails and propaganda.

APC even in government is still playing opposition.Always looking for someone or something to blame and never owning up to take a blame or defeat in good fate.

APC and PMB lead government have not been responsible, Responsibility means 'your response ability'.

PhockPhockMan:



http://www.thisdaylive.com/articles/group-berates-buhari-on-empty-treasury-demands-publication-of-jonathan-s-handover-notes/213030/

All points valid. Thank you for sharing this with us! El Presidente go to work! Stop dulling!

hotice01:


Now u have nothing else to fault in his post,you have to go so low as to fault his writings.

Can't u guys accept defeat without hate,lies or cheap propaganda.

I'm nonpartisan but APC as a party isn't doing to well for democracy with all this lies,cheap blackmails and propaganda.

APC even in government is still playing opposition.Always looking for someone or something to blame and never owning up to take a blame or defeat in good fate.

APC and PMB lead government have not been responsible, Responsibility means 'your response ability'.

How do you expect me to read and understand a post that is not punctuated?

Going by this write up, it said

"what was left behind sum of US$29billion in Foreign Reserve and $2billion in SWF"

This simply means PMB is correct.Means this group led by Aguiyi is made of a bunch of empty barrels.

These monies are not to be spent.They are monies in our foreign bank account that gives the inte community a sense that a country called Nigeria does exist.
But remember also that obj left it at over $70b.So instead of GEJ to build it.He however reduced it to meager $29b...Theives kawai

helpee:
all these your TAN this, TAN that is becoming stale. Ask yourself this question ist, why can't aregbesola borrow? You need to be credit worthy for banks to borrow you money. If FG was expecting money in 2weeks time and they felt as a responsible Govt they couldn't wait till that time to pay their workers they could borrow money. Poor people like you don't know you need to be rich to be able to borrow money. In fact, if you want a bank loan, you will prove you don't need a loan. If you need a loan of one million they will make sure you are worth 3 million. That explains why aregbesola can't borrow...he is broke with an empty treasury. you get it? I know you won't. Oya call me a satanoid and abuse me as usual

Oga, you made my day.

OrlandoOwoh:

Learn how to punctuate, for easy understanding. How can you write in up to three paragraphs without a punctuation mark?

OK

blind mumu read this
Let me spell it for u hopefully u will get it

Reserve is for the 3 tiers of government
Fg/state /LG can just dip bowl into the reserve it must be shared

Fg account is d only source Fg can dip bowl, storex or anything and spend
Fg pay salaries of workers, contractors, MDAs, pay other appointees, draw salaries and allowance Nd others

Wen oil down dive to $46
Salaries and others didn't decrease and dey must be paid
D allocations is not enough since the govt is nt a bad debtor Lyk aregbe dey borrowed

blym4real:


The group members are bunch of Iliterates.

They failed to realize that it wasn't jonathan administration that left money in the reserve but it was OBJ and Yaradua administation, Jonathan administration depleted the foreign reserve that was saved by OBJ and Yaradua to $30 billion from about $50 billion.
Despite the administration enjoyed the highest price of crude oil ever in history, one would expect the foreign reserve to grow to a large extent but instead they still went to loot out of the foreign reserve.

Why insulting each others?? well for me i feel to be real with this issue let PMB publish the handover notes as requested or arrest GEJ for leaving empty treasury it is simple .. we seem to want change and if change is what we want there should be some level of transparency to guide us and make things move forward.. Publish the Hand over notes or Prosecute GEJ

helpee:
I don't need the analysis of any oby. This is simple economics. Tell oby to analyse if for aregbesola so that aregbesola can use the analysis to borrow and pay debt. I am a businessman and I know if you need a good loan you must prove you don't need the loan by showing the bank you are worth more than the loan. The FG must be worth more than the money they borrowed

thank you for creating the time to educate that dumb skull .

Jesusloveyou:
are u not tired for this ur fooolishness? how can u be equating foreign reserve with what gej claim he save? Or is it gej that save d $30b in d treasury, how can he deplete d treasury from $47b to $30b, and he wil stil be claiming,he left $30b, are u d one that kept d $30b there. Instead to hear that u have increase our treasury, from $47b to $67b.

Mr jesus loves u..please practice this. Say truth not because the person is related to you or not..that is our problem in this country .! that is why the politicians play us..we support people based on tribe , religion and party .
let me educate you a little.. no responsible government leaves money in the treasury ..it is saved as Foreign reserve. so Obj left 47bn$ in foreign reserve..GEJ left 29bn$ in foreign reserve. But hope you also realise OBJ did nothing on infrastructure. absolutely nothing.. roads were death traps, hospitals were in shambles, petroleum products were scarce, our Airports were an eye sore etc
GEJ fought BH for 5 years, Establish 9 universities, increase wage by over 53% ...etc. These consumes money..remember when NOI said the army is taking too much money to fight BH..she was shouted to high heavens...
no excuses..i know some level of mismanagement occurred with GEJ ,but so also with all and every government that has ruled us...
Abacha left 9bn$ only to be squandered by Abdul salam within a 9 month period. Maybe you don't know. Go read history
GEJ saved us by investing in agric and other industries ..but whatever he must have done, he is gone ..so let the PMb face work and stop complaining ...tell us what was left and the debt... telling us only one side is not enough..

modath:


You KNOW the bolded but are still accusing APC of lies & asking for objectivity

Nigerians be flip flopping since 15 BC!!

The outgone govt did this country a great disservice & the pussyfooting in order to avoid the "persecution/ witch hunting" tag is not doing the new govt or Nigerians any favour.

We ALL know the thieves & where they are.

Did you think the latest CBN's move of asking importers to go to the BM for their forex needs was done to spite them? Its a no way out move cos the treasury is near empty & there is almost nothing to defend Naira.

The stark illitrate and dunce call Buhari is saying the treasurey is empty, you are, on the hand saying it is NEAR empty going by the fact that you are also an apc member. Am, up till this moment checking and cross checking what exactly is wrong with you apc members? Why have continued to constitute yourselves into nuisance every time? Tufiakwa.

OrlandoOwoh:

E ma lo f'ose yi mi o! Didn't Okonjo-Iweala insist our economy was okay?

this boy sef you get head so? Na your type teacher go ask question say 2+3=? and you mate d show you their five finger you go dey board d draw am oh, black is black if you see white you wan d call am black. Your type d spend 7 years for 5 years course oh. Even if dem give you text book you know go fit even give out d answer. Mofo, ode. Ena.

helpee:
tale. Ask yourself this question ist, why can't aregbesola borrow? You need to be credit worthy for banks to borrow you money. If FG was expecting money in 2weeks time and they felt as a responsible Govt they couldn't wait till that time to pay their workers they could borrow money. Poor people like you don't know you need to be rich to be able to borrow money. In fact, if you want a bank loan, you will prove you don't need a loan. If you need a loan of one million they will make sure you are worth 3 million. That explains why aregbesola can't borrow...he is broke with an empty treasury. you get it? I know you won't. Oya call me a satanoid and abuse me as usual

I even hear say he is about to be impeached. Apc as a whole living in forged live.

conyema12:
Am sorry to say that APC as a Party was built on the foundation of lies.
Such a party will not stand the test of time.
This can be seen in the present day House of Assembly.

Most of their assertions are deceitful. I know the previous administration did carry out some level of financial recklessness. However l feel APC should be more objective in their publicity and claims.

u are right bros.

Shame on PMB for continuously telling lies to the Nigerian people.

sonofananimal:



WHAT IS WRONG WITH YOU PEOPLE
ARE THERE STILL PAYING YOU PEOPLE.


WHY CAN'T YOU JUST SHUT THAT MOUTH OF YOURS AND CONTRIBUTE TO THE SOCIALITY

GO THROUGH YOUR POST AGAIN & SEE HOW DOUBLE DUMB YOU SOUND. ILLITERACY IS EMBEDDED IN APC.

frankyychiji:
At 72, there is little I can do as a president! But at 72, I can lie and a corpse would rise in shocking disbelief!

pls can some one pls tell me why fuel still sells for over 100k

frankyychiji:
At 72, there is little I can do as a president! But at 72, I can lie and a corpse would rise in shocking disbelief!

pls can some one pls tell me why fuel still sells for over 100 naria

frankyychiji:
At 72, there is little I can do as a president! But at 72, I can lie and a corpse would rise in shocking disbelief!

can some one pls tell me why fuel still sells for over 100 naria

helpee:
all these your TAN this, TAN that is becoming stale. Ask yourself this question ist, why can't aregbesola borrow? You need to be credit worthy for banks to borrow you money. If FG was expecting money in 2weeks time and they felt as a responsible Govt they couldn't wait till that time to pay their workers they could borrow money. Poor people like you don't know you need to be rich to be able to borrow money. In fact, if you want a bank loan, you will prove you don't need a loan. If you need a loan of one million they will make sure you are worth 3 million. That explains why aregbesola can't borrow...he is broke with an empty treasury. you get it? I know you won't. Oya call me a satanoid and abuse me as usual

cc : chessboard

disloman:
U don't wanna learn.

you go school, that is how they will be teaching A and you will be saying B. Ode try and learn, call a spade a spade buhari is a BIIIIIIIIIIIIIIIIIG lier, they try to build on propaganda even when electioneering is over.

Mr. President how much did GEJ'S administration hand over to you? I demand an answer.