After listening to the president complain about the status of the national treasury, I thought to myself "what was baba expecting" but for the recent revelation of the Excess crude account ECA at $2 billion and LNG payment at $2 billion got me wondering how low the people can go.

In Buhari's exact words, "I met huge debts, virtually empty treasury ”

From my dictionary, definition of the word virtually
adverb
1. Almost but not quite.
2. Without exaggeration; literally In essence, but not in fact

ECA + LNG payments = $4 billion

I have read a lot from Nigerians including the leaders of the pdp saying the president lied us, I have read threads on Nairaland asking where the president is getting money for bail out from. I wonder who the real illiterate is, is it that we no longer understand simple English? should the President communicate with us in pidgin from now on?

$4 billion in savings for a country with a population of 170 million people is what? if not virtually empty treasury.

Little history

It is on record that former president Obasanjo left the country with $22 billion its excess crude account 2007, how did the Yar’Adua/Goodluck and Jonathan/sambo administration squander this savings despite record oil prices from 2010 - 2013?
our budget benchmark was $80 PB (highest) while crude oil sold for $132 (highest). Where was the excess going to?

forgive the disjointed nature of this write up.

Have you not observed that whenever there is transition from opposition party to another, the treasury is always 'virtually empty'?

#onlyInNigeria.

.

FTC

Why are you not blaming the governors that insisted the money be shared?

That doesn't fit into your narrative abi?

[size=15pt]Governors demand release of one billion dollars from Excess Crude Account[/size]
The Deputy Governor of Sokoto, Alhaji Mukhtar Shagari, disclosed this while briefing State House correspondents on the outcome of the National Economic Council (NEC) meeting at the Presidential Villa, Abuja.

The NEC is the highest economic decision making body presided over by the Vice President with all the governors, Minister of FCT and some key ministers as members.
Mr. Shagari said that though they were aware of a pending Supreme Court case on the excess crude account, they would discuss with the Federal Government on how the money could be released.
“As you know the two tiers of governmentand the local governments, normally share the fund.
“We have had discussion fully on the issue of releasing at least, about one billion dollars from Excess Crude Account to help the state governments to meet up their financial responsibilities.
“Most of the states have contracts that are ongoing and that are very important to the people of this country and they need money for all these so that the contractors will not leave.
“There is this matter in court and there is also the demand by the governors that this amount of money be released.

http://www.premiumtimesng.com/news/110715-governors-demand-release-of-one-billion-dollars-from-excess-crude-account.html

They are still calling it CHANGE. Mofo(s)

Treasury empty and him approve 400 billion naira 4 june salary.....abeg anoda story joooooooor

Mogidi:
Why are you not blaming the governors that insisted the money be shared?

That doesn't fit into your narrative abi?

When did gej start complaining about the sharing?
why didn't Obj share everything
why has Buhari not touch the ECA

Propaganda fused with end time events
Minds confused with confusion.

That yeye girl called Biafranqueeen who lives in America yet she doesn't understand simple Engilsh. Her useless thread was better off ignored!


@Obiagelli, I totally agree with you. The national treasury is virtually empty even if only $4billion is left.

Okonjo and Jonathan must return the money they looted

Nelkoko:
Treasury empty and him approve 400 billion naira 4 june salary.....abeg anoda story joooooooor

You people need to go learn how the country's finances work before rushing to comment ignorantly on NL.

e bawa sor fun won oo! Awon ole alatenuje oo


Money turned even professors to dullards.

virtually empty is not empty o. help us tell them o.

Even the chief alatenuje named barcanista thats forming intellectual join de shout up and down o..

Nope, buhari met CHANGE in the treasury

Beremx:
That yeye girl called Biafranqueen who lives in America yet she doesn't understand simple Engilsh. Her useless thread was better off ignored!


@Obiagelli, I totally agree with you. The national treasury is virtually empty even if only $4billion is left.

Okonjo and Jonathan must return the money they looted

Abi o, I read her thread and I kept shaking my head, she should better ask for a refund for her education. $4billion with debt running into $30billion after Obj did his best to make us debt free

Beremx:


Okonjo and Jonathan must return the money they looted

If after one year those two are still working/flying around that means Baba lied to us or baba is part of them that kept Nigeria where she is now.

I will keep saying it, saTANoids, PDP and the wailing wailers are all blockheads.

seunmsg:


You people need to go learn how the country's finances work before rushing to comment ignorantly on NL.

They are the first to call Buhari illiterate

@ OP if I say ur brain empty, e no mean say small no remain there na?

olabukola:
If after one year those two are still working/flying around that means Baba lied to us or baba is part of them that kept Nigeria where she is now.

Unfortunately I don't think baba would want to humiliate an ex president, I believe their time will come, we have many more years to probe these people.

muhyeenisce:
@ OP if I say ur brain empty, e no mean say small no remain there na?

Virtually?

I met virtually an empty treasury.
I met $2b in ECA.
Which one would you prefer??
I have atleast 1million in my bank account.
I have 1million in my bank account.
Which one would you prefer?
A public officer should be clear and blunt when dealing with the masses.
Newly sworn in governors stated exactly the amount of debt left behind by their predecessors none of them said they met huge debt.
Why should Mr Mouth Action twist the ECA just to score cheap political point from his fellow cows.
Call a spade a spade and not a farm tool.

#I_Hate_Mouth_Action.

Slynonny:
I met virtually an empty treasury.
I met $2b in ECA.
Which one would you prefer??
I have atleast 1million in my bank account.
I have 1million in my bank account.
Which one would you prefer?
A public officer should be clear and blunt when dealing with the masses.
Newly sworn in governors stated exactly the amount of debt left behind by their predecessors none of them said they met huge debt.
Why would Mr Mouth Action twist the ECA just to score cheap political point from his fellow cows.
Call a spade a spade and not a farm tool.

#I_Hate_Mouth_Action.

please explain the twist, is it a case of not understanding simple english

Op let your baba one chance open up and let the whole world know exactly how much GEJ administration left behind verbatim.
He hasn't said anything when he said the treasury is virtually empty.Let him give us figures like Delta state governor did.only then he can be taken seriously or else ?

Useless thread
Ur mates re praying and looking/ embarking and calling on govt on ways to end dis boko haram menace which has killed over 350 pple in 1 week
while u re here fooling ur selves and trivalizing issues dat re not even important now
idiats

Slynonny:
I met virtually an empty treasury.
I met $2b in ECA.
Which one would you prefer??
I have atleast 1million in my bank account.
I have 1million in my bank account.
Which one would you prefer?
A public officer should be clear and blunt when dealing with the masses.
Newly sworn in governors stated exactly the amount of debt left behind by their predecessors none of them said they met huge debt.
Why would Mr Mouth Action twist the ECA just to score cheap political point from his fellow cows.
Call a spade a spade and not a farm tool.

#I_Hate_Mouth_Action.

What most of you guys have failed to realise is that the ECA does not even belong solely to the federal government and it does not represent federal governments treasury. The ECA is a savings/reserve account that belongs jointly to federal, state and local government. The federal government cannot legally spend a single kobo from that account except it is shared among the various levels of government.


The consolidated revenue fund is the federal governments treasury from which it makes all necessary payment and that account was virtually empty as at the time PMB took over. Can an outgoing state governor who left an empty account for his successor claim the anticipated share of the state from the ECA as funds left behind for the new governor?

GEJ left an empty treasury and you guys should stop defending him please.

Most persons here on Nland are plain dumb... especially the wailing wailers..
Some persons still insist Buhari said he'll make $1 = #1 and till date they don't have a valid premise to back up their words...

Persons like Mogidi (especially this moniker) go about spreading false information in view to decieve the gullible who just swallow words without verifying the source of the fabricated lie the Tanoids arw always spewing..

I'd say let the wailing wailers continue to rant...

Obiagelli:

please explain the twist, is it a case of not understanding simple english

Are my to educate you or your just being blinded by hatred for the naked truth?
(1) Obiagelli i found your lost purse and some money in it.
Your question would definitely be how much did i find in your purse.

Are my left or right?

(2)I found your lost purse and #500 in it.

You will thank me immediately.

Okpeke Obiagelli apply close up bikokwa.

#I_Hate_Mouth_Action.

Beremx:
That yeye girl called Biafranqueeen who lives in America yet she doesn't understand simple Engilsh. Her useless thread was better off ignored!


@Obiagelli, I totally agree with you. The national treasury is virtually empty even if only $4billion is left.

Okonjo and Jonathan must return the money they looted

What are you waiting for? Go and collect if from them, For all I care if Buhari kept quiet, it's because he knows they are innocent.

The problem with MOST of us is that our reasoning has been tampered with sentiment.
That we used to have more than $20B in our treasury and now we are left with less than $4B doesn't signify "virtually empty" to anyone? Will ur car wait till it stops before it start giving u the empty signal on ur fuel gauge? Am seriously confused here.
Now that the FG want to share 400B naira and people saying "didn't the president say we are broke", does that mean Nigeria was on a full stop without generating any money since the handing over? Do u know how much Nigeria generate per day?
I really don't know why we like asking senseless questions. Some of us can only read but we are still behaving like illiterate.
OP need to care less about these set of people. They are still suffering from the shock they got from the elections.

BossTtdiamonds:
Most persons here on Nland are plain dumb... especially the wailing wailers..
Some persons still insist Buhari said he'll make $1 = #1 and till date they don't have a valid premise to back up their words...

Persons like Mogidi (especially this moniker) go about spreading false information in view to decieve the gullible who just swallow words without verifying the source of the fabricated lie the Tanoids arw always spewing..

I'd say let the wailing wailers continue to rant...

It's appalling reading comments on the forum these days, the rush for 'likes' is killing the quality of debates.

seunmsg:


What most of you guys have failed to realise is that the ECA does not even belong solely to the federal government and it does not represent federal governments treasury. The ECA is a savings/reserve account that belongs jointly to federal, state and local government. The federal government cannot legally spend a single kobo from that account except it is shared among the various levels of government.


The consolidated revenue fund is the federal governments treasury from which it makes all necessary payment and that account was virtually empty as at the time PMB took over. Can an outgoing state governor who left an empty account for his successor claim the anticipated share of the state from the ECA as funds left behind for the new governor?

GEJ left an empty treasury and you guys should stop defending him please.

Shall it become that mua is arguing Politics with ginwa?
It shall never become.

#I_Hate_Mouth_Action.