Buhari it will never be well with you

It will be well. Honestly, we need to blame the immmediate past adm for the misdemenour it committed and left us in this quagmire.

God bless Nigeria and her ppl

More like 800m usd. I no believe dis reserve figure. Digested yams. Btw where d hell is dasuki o

I know this isn't funny but my disdain for this govt...just LMAO. luckily for them, if they continue this way, by 2019 it won't fall again cuz it must have gotten to $0 by then.

We don enter on chance for baba's trailer

Beress:
Buhari it will never be well with you

Zahra come see chomtin

sCun:
Thought they said Jonathan left nothing in the foreign reserves? Is it the dog called Buhari that dropped this one there?

Shut up.!!!

He left paltry $30billion when he supervised oil boom

OBJ- foreign reserve grew from $3bn to $45b while crude was oil was at lowest with that he paid debt of $18b to paris club.

Yaradua - foreign reserve grew from $45b to $63b with crude at $50 per barrel

Jonathief-- supervised the economy after yardaua and the foreign reserve was depleted to $30b during the oil boom at $120-$140 per barrel at maximum



Now use ur brain Who is worst president ever..??

We are not producing anything.

henrydadon:
I knew I will never regret not voting for buhari

Without the huge population of the north buhari
Won't have won that election

And we won't be in this woes we find our self in

We want our good luck back

Which huge population? lol

Gmekx:
Implications anyone?

Nigeria will mostly run to imf for a bailout before it's too late...
He needs to borrow huge sums...

Ugosample:


Which huge population? lol

U no see election results.

I need to leave this country. Please guys, which country is accepting refugees now.

Standing5:
Nothing strange.
Nigeria is like a man who had a well paying job but refused to invest until he was sacked. How will he discipline himself to invest in the shortest possible time and get results? PDP kept eating precious money that could have served us in times like these. Any investment and diversification not done under PDP shouldn't be expected now.

my brother leave PDP out of this one oo, PDP time still better pass dis one .. It isn't about political party any more , it's how to revive it now.. There is hunger in the land

Lighthouseman:

Nigeria will mostly run to imf for a bailout before it's too late...
He needs to borrow huge sums...

But oil prices are above the budgeted prices

united101:
It will be well. Honestly, we need to blame the immmediate past adm for the misdemenour it committed and left us in this quagmire.

God bless Nigeria and her ppl

Well..the past admin should have saved more aggressively.

But here is the thing....it won't have stopped this mess from happening because as long as oil prices stay down,we would eat and eat into the savings.

OkoNDOoBo:


Shut up.!!!

He left paltry $30billion when he supervised oil boom

OBJ- foreign reserve grew from $3bn to $45b while crude was oil was at lowest with that he paid debt of $18b to paris club.

Yaradua - foreign reserve grew from $45b to $63b with crude at $50 per barrel

Jonathief-- supervised the economy after yardaua and the foreign reserve was depleted to $30b during the oil boom at $120-$140 per barrel at maximum



Now use ur brain Who is worst president ever..??

what did they spend money on compared to Jonathan?

onnenka:

Under Jonathan I was earning approximately 20k a month as a Youth corp member while people a year before me earned only N9000, where did the extra money come from?

Under Jonathan, minimum wage for federal workers was increased from 7000 to 18000, where did the extra money come from?

Under Jonathan the FG was paying billions of naira monthly to subsidize petroleum products whose prices kept rising as the price of crude oil rose. A subsidy he tried to remove but was vehemently resisted by the citizens.

Under Jonathan more than 20 power stations costing billions of dollars were completed and made operational. These included the ones Obasanjo left at less than 10 percent completion after 8 years.

Under Jonathan old and dilapidated railways were brought back to life (PH Enugu) and brand new standard guage ones (Abuja kaduna ) were also built. These cost billions of dollars to build.

Under Jonathan, perennial death traps like east west road and Benin Ore road were rebuilt, east west road alone included the construction of several bridges, these cost billions of dollars.

Under Jonthan, 9 new Federal universities were built, OBJ built none.

Under Jonathan some university lecturers began earning like oil company workers. This was done to end the incessant strikes. Where did the money come from?

Under Jonathan, billions of naira was injected into the amnesty program (initiated by Yaradua). This was done to ensure uninhibited flow of oil. The money came from somewhere.

Under Jonathan our military which had been deliberately abandoned since the time of IBB was revamped with billions of dollars to fight boko haram. That money came from somewhere

[size=14pt]US$217.7 Billion Illegally Transferred Out of Nigeria[/size]

The African Development Bank (AfDB) estimates corruption costs Africa up to 50% in lost tax revenues and over $30 billion in aid, annually. As a comparison, Africa receives around $22.5 billion in development aid from industrial countries (pre-2007/2008 global financial crisis figures), according to the Organization for European Economic Cooperation and Development (OECD).

The report on http://www.nigeriansreport.com/2016/08/us2177-billion-illegally-transferred.html

Gmekx:


But oil prices are above the budgeted prices

Yesss.....and Nigeria needs oil to be at $123 per barrel to balance the books.

(The Russians need it at $99 and the Saudis need it at $70).

This is not to justify PMB....but to send him a message...that oil money is not a reliable source of income for the economy.

Quakertellicus1:
Hmmm..from this article


For instance, if there is a decline in oil prices and oil revenue, the lagging and collapsing non-oil export sector will not be able to compensate for the drop in oil revenue while domestic demand for the non-traded goods and imports remain sticky. Consequently, the country will be forced to borrow from the international financial market to compensate for the decline in oil revenue. Over time, external debts will increase and so will the debt service obligations. Even when oil prices go up later and there is another round of oil windfall, it is difficult to correct the earlier damage or distortions created by the initial or previous oil windfall. In some cases, the oil exporting country may be forced to adopt some form of structural adjustment program (SAP) to correct such distortions or imbalances. Some of these SAPs are painful and may increase the prevalence, depth and severity of poverty.[/b]



This is what is happening to Nigeria.

APC.....start walking the talk about diversification. You were not voted in to wait for oil to rise again.

APC was hoping to simply block leakages and fix 50% of the problem. The problem of our system is cascaded in nature and thus has a nasty chain effect that can best be arrested with local production of alternative forex earner. The bitter part is that there is no real capital with which to kickstart this investment and diversification drive as we are all privy to this fact even as far back as 2014.

Which foreign reserve they drop? I thought they said GEJ left nothing? Pathological liars.

You will not find dropshot/passingshot, NgeneUkwenu, omenka, HungerBAD, fulanimafia, QuotaSystem, Tokety7 aka Tokt on this thread

These people said GEJ left nothing in our foreign reserve, my people see as fowl yansh don open

Problem every where

Rogersmith:
I need to leave this country. Please guys, which country is accepting refugees now.

hahhahahaha u wan leave your father land? I thought lots of people here on nairaland always say no place like home?keep praying Nigeria will bounced back before 2019

Quakertellicus1:


Yesss.....and Nigeria needs oil to be at $123 per barrel to balance the books.

(The Russians need it at $99 and the Saudis need it at $70).

This is not to justify PMB....but to send him a message...that oil money is not a reliable source of income for the economy.

I kept druming a similar message when people were celebrating Aregbe for borrowing against oil price projections to build project that won't improve IGR any timd soon. Many states are in varying degree of mess Osun find themselves too but Osun's case is most pronounced of all.

sCun:
what did they spend money on compared to Jonathan?

What else if not looting

I stop reading the shit u tag me with when I saw the part that billions of dollars were spent on nigeria's army

Re u kidding me

Dasuki gate

Boko-haram was holding 20 local govts hostage in borno

7 in yobe state.

Almost everything you listed was part of the budget or supplementary budget..

So what did jona and the 40 thieves do with our treasury.??

Pidggin:
You will not find dropshot/passingshot, NgeneUkwenu, omenka, HungerBAD, fulanimafia, QuotaSystem, Tokety7 aka Tokt on this thread

These people said GEJ left nothing in our foreign reserve, my people see as fowl yansh don open

Stop exposing your intellectual nåkédness. ECA is seperate from Foreign reserve.

ya Allah

Useless confused government.

Standing5:
[s]Stop exposing your intellectual nåkédness. ECA is seperate from Foreign reserve.[/s]

Lol see as fowl yansh don open

Miles300:
my brother leave PDP out of this one oo, PDP time still better pass dis one .. It isn't about political party any more , it's how to revive it now.. There is hunger in the land

How was PDP's time better? PDP was privileged to have oil selling well beyond the project benchmark to sustain our system. If it was truly better why did PDP borrow to pay salary before may 29 2015 hand over?

Naira is heading to 500 , e go be like film .. The rate at which it keep Fallin , adding 20-30 naira sharp .. That should tell u we are in deep recession .. It doesn't even add 2 or 3 naira to depreciate .

tribalistseun:
Buhari will kill this country kpata kpata.

Foreign reserves drop.
Naira drops 40%.
Economic growth drops.
GDP drops back to 2nd in Africa.

...and next frustrated and impoverished Nigerians drop Buhari.