maclatunji:


Jonathan Was Not Interested In Saving Nigeria’s Resources – Okonjo-Iweala

Former Minister of Finance, Dr. Ngozi Okonjo-Iweala, yesterday said that her former boss, former President Goodluck Jonathan was not interested in saving Nigeria’s huge earnings from oil and other sources between 2011 and 2015.

She said the absence of political will to save under former President Goodluck Jonathan is responsible for the hardship facing the country currently.

Speaking on “inequality, growth and resilience,” at George Washington University, the former minister said the World Bank and the International Monetary Fund (IMF) must seek means to embed savings in national constitutions devoid of political manipulations.

Okonjo-Iweala added that Nigeria was able to save $22 billion under former President Olusegun Obasanjo, which saved the country in 2008, from global economic meltdown.

Speaking on the Chilean saving example, Okonjo-Iweala said: “We tried it in Nigeria, we put in an oil price based fiscal rule in 2004 and it worked very well.

“We saved $22 billion because the political will to do it was there. And when the 2008 /2009 crisis came, we were able to draw on those savings precisely to issue about a 5 per cent of GDP fiscal stimulus to the economy and we never had to come to the bank or the fund.

“This time around and this is the key now, you need not only to have the instrument but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but zero political will.

“So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in. Along with so many other countries.”

Source: http://leadership.ng/news/518286/jonathan-not-interested-saving-nigerias-resources-okonjo-iweala

maclatunji:
The message of this thread can be summarized thus:

1. GEJ got us into the economic mess we are in and is still contributing to it with his affiliation to criminals in the NigerDelta.

2. President Buhari and his government are fixing the rot, it is an ongoing process that is yielding results already. These results will take time to spread to the generality of Nigerians.

3. Wailers should shut up and eat humble pie while true progressives implement the reforms needed for Nigeria's greatness.

You can quote me anywhere.

maclatunji:
I have seen a lot of ignorant or dubious people try to portray NOI as being GEJ's star minister that drove Nigeria to El Dorado. However, let us read what she has to say about Nigeria's economy under former President Goodluck Jonathan.

DickDastardly:
This hopeless jihadist again. GEJ is blessed forever....no bearded muslim fanatic can curse.

Senseless bigotted hate laced topic as usual.

maclatunji:


Thank you for the compliments, Oya address the issues raised by NOI in the post.

APCHaram:
[size=18pt]Aregberascal the Oliver twist long throat parasite lamenting on the 2014 oil benchmark
[/size]
Said he: “If there is anything my state does not have now, its money. We are managing with 40 per cent reduction in our allocation from the Federal Government. It is not as if I even enjoy saying I depend on the federal allocation, but the truth is that there is no magic that I would have done to suddenly take our state out of dependence on the federal allocation.
“It is important for us to know that there is no justification for that 40 per cent reduction in our allocation. The price of crude oil has remained almost the same at $108 per barrel, and the benchmark, according to them, is $75 per barrel”.
http://www.informationng.com/2014/04/theres-no-justification-for-40-reduction-in-osun-federal-allocation-says-aregbesola.html
This goat and his co travelers in the APC who threatened to block the passage of the 2014 budget if the oil benchmark was not increased.
This same goat was part of the APC parasitic governors who took the Federal Govt to court over the Excess Crude Account.
And you this malctunji has the audacity to blame Jonathan?
Take your nonsense back to that mosque section

Jirate:


Insulting GEJ in an attempt to justify voting Buhari is senseless and morally reprehensible. APC should think of how to move Nigeria forward not backward.

MadamExcellency:
Goodluck Jonathan is gone for good and now we have Buhari.

The pain of Buhari's failure is driving this gentleman crazy.

Watch it before it generates to insanity.

Why did Buhari contest 2015 Presidential Election when he had nothing to offer?

maclatunji:


[s]You are arguing from an irrelevant standpoint, the governors during GEJ's tenure realized that not only was his government wasting federal allocations but they had started dipping hands into the state's share of revenues as well. That is why all state governors regardless of party affiliation went to court against the federal government under GEJ.

Now, the next question is what did GEJ do with excess funds at federal level? Evidence shows that budgetary funds and excess funds were simply looted by any and every means possible.

You cannot counter GEJ's 'Coordinating Minister of the Economy' on this one.

She has almost all the facts, you have nothing but dubious speculation.
[/s]

maclatunji:


You are arguing from an irrelevant standpoint, the governors during GEJ's tenure realized that not only was his government wasting federal allocations but they had started dipping hands into the state's share of revenues as well. That is why all state governors regardless of party affiliation went to court against the federal government under GEJ.

Now, the next question is what did GEJ do with excess funds at federal level? Evidence shows that budgetary funds and excess funds were simply looted by any and every means possible.

You cannot counter GEJ's 'Coordinating Minister of the Economy' on this one.

She has almost all the facts, you have nothing but dubious speculation.

juman:
Obasanjo government was also very bad.
He was focusless, confused and very insincere.

He spent 16 billion dollars on electricity without any headway.
He also spent billions of dollars on other areas without result.

Election rigging was his way of life.
Infact he is a disgrace to yorubas.

APCHaram:


Rubbish.

The only way they got a court order on the ECA is because it was never part of our constitution.

The ECA has its roots in the first gulf war windfall setup by IBB.

Obasanjo fought tooth and nail (even ignoring court orders) to ensure the ECA remained.

GEJ's only flaw on the ECA is that he obeyed the court order favoring the state governors stand on the illegality of the ECA.


At the end of the day, what did Aregberascal and co do with their share of the ECA?

You have no argument but only hatred and diversionary blame to spread here with your rubbish.

APCHaram:


Rubbish.

The only way they got a court order on the ECA is because it was never part of our constitution.

The ECA has its roots in the first gulf war windfall setup by IBB.

Obasanjo fought tooth and nail (even ignoring court orders) to ensure the ECA remained.

GEJ's only flaw on the ECA is that he obeyed the court order favoring the state governors stand on the illegality of the ECA.


At the end of the day, what did Aregberascal and co do with their share of the ECA?

You have no argument but only hatred and diversionary blame to spread here with your rubbish.

maclatunji:


He might be gone but the decay he left behind is still with us. Thankfully we are not in Venezuela's condition because of President Buhari's prudence, the current Minister of Financ., Kemi Adeosun is conducting deep institutional and structural reforms that are diffusing to state level as well.

So, unless you are dubious or ignorant, you will know that President Buhari is doing a great job with our economic challenges.

vanbonattel:


And yet Goodluck did not waste his time to complain and wail against obasanjo, he rolled up his sleeves and worked his socks off, the economy prospered under him and things were beginning to look good for Nigerians.

Then came buhari the vengeful and sad leader who branded everyone a thief just because we dared to prosper. His only leadership style is to blame everyone except himself.

maclatunji:


Insulting? No O, just laying the facts on the table so that we know how we got to where we are.

I dont die .... i multiply .... back to continue where my prodecessor stopped

StOla:


Why would Jonathan complain when he had a large till of reserves already piled up by Obasanjo and Yar'Adua to squander.

Did the 2 above presidents sell crude oil at such high and consistent price as Jonathan did?
Why did Jonathan not build up the reserves like his predecessors? Or what infrastructure did he spend it on? Was it to attain the 4000MW power OBJ already achieved in late 2006?

What did Jonathan do with our moneys earned before him, despite earning much more in his own regime?

He rolled up his sleeves and stole the nation dry.

Jirate:


The issue now is What is Buhari doing, focus on Buhari now. He has the Highest office in the land now, he is the pilot now, not any one else, the ship called Nigeria is sinking, where is the Captain?

maclatunji:
I have seen a lot of ignorant or dubious people try to portray NOI as being GEJ's star minister that drove Nigeria to El Dorado. However, let us read what she has to say about Nigeria's economy under former President Goodluck Jonathan.