obailala:

Talking about subsidy protest, the reason Nigerians rejected the subsidy removal isnt differ3nt from the reason Nigerians have rejected and protested every single fuel price increase since the 90's. Quit going about for the sake of politics acting sanctimoniously like you were not opposed to subsidy removal in 2012. So all the Nigerians all over the place blasting the government then and creating memes then, who exactly were they at the time (since every Jonathanian now claims they were in support of subsidy removal in 2012)?... Can you swear on the life of your family that in 2012, you @fabre4 were in total support of subsidy removal?

Regarding ECA, a lot of you folks claim PMB and his people are the masters of 'blame trading', but just imaging the ridiculous watery arguments you keeping putting up about AMEACHI being the one who stopped GEJ and NOI from saving. After the FG was caught several times pilfering funds from the ECA, the state governors simply put pressure that the state's share of the ECA be released to them. The only thing more ridiculous and laughable than conveniently mentioning only the name of 1 governor (out of 36) is the fact that in your bid to play the blame game, you also allude that AMAECHI used voodoo on president GEJ which made the FG's lion share of the ECA funds (52%) to also be squandered. Amaechi must really be a powerful juju manipulator acxording to your logic.

obailala:

Lol...
@LadyExcellency, quit trying to be clever by half, you aren't talking to children or dunces. Let's try an expose your deceit, those figures you quoted there, can you kindly quote the dates beside those figures?... The last time I checked, Nigeria's foreign reserves as at May 29th 2015 was about $28.6 billion; so in you post when you said "AS AT NOW", what date exactly was the "NOW" you were referring to? No

By the way, I quoted figures which I am still eagerly waiting for you or anyone to dispute, you should have boldly mentioned me when you made the above post with those fraudulent figures instead of hiding by quoting someone else. Of course you couldn't directly face me to dispute my figures because they are simple facts which can very easily be verified by anyone via a google search.

Meanwhile @Whynotthetruth, the worst form of ignorance is the proud type. If I am wrong, I will be very happy t take correction if presented with verifiable facts and superior argument. You keep blabbing about facts, facts and facts but can't even supply a single one. If you truly have those verifiable figures which contradicts what I put up earlier, a smart person would have simply presented them instead of bleating about with insults. That you even endorsed the deceitful post by @LadyExcellency, that speaks volumes of your own level of knowledge. And you have the guts to think someone else is deluded? Tufia!

LadyExcellency:


I just put it to you that you were lying.

You said Jonathan inherited $60b. Is it true or false.

Where did Buhari got the money for bailout?

NLNG royality made during Jonathan administration was $5 billion. The truth is nobody calculated what we had as at May 29th because it wasn't month ending hence APC wanted Nigerians to think that the purse was empty while the Allocations were monthly based

deomelllo:


He actually inherited $48 billion and degraded it down to $29 billion by May 28 2015. 48-29=18

What did Okonjo and Jona do with $18 billion? This is on top of the Trillions he borrowed and the largest oil earnings in the history of Nigeria.

Even with all that, Jona still introduced austerity measures.

When you borrow, it accumulates. What was the figure he added to our total debt?

What is the figure now that we are not borrowing?

Please note that foreign reserve doesn't amount to savings rather excess crude reserve. The truth is thar the opposition was responsible for sharing the excess crude reserve.

Good, you corrected those incorrect figures you quoted with recklessness.

We measure government policies with effects on the people and there are positives with Jonathan's but everything with Buhari is retrogressive, negative and biting.



The most important question is? Who created the need and necessity for states to be bailed out with government funds?





It doesn't matter how you spin, cut and dice it, fact remains that Jona depleted our reserves down to $29 billion.

Jona was borrowing at least N100 billion monthly from his 1st year in office and by the 2nd year, he's borrowed over N2 Trillion.

By his 2nd year in office when oil was selling at positive peak of $116 and oil windfall, Jona and Okonjo warned us to get ready for recession. Why?

By 2014, Jona and Okonjo introduced Austerity measure

By 2015, Jona and Okonjo borrowed over N450 billion to pay workers salaries.

What about the $2 billion Jona and Okonjo stole that DASUKI ATM shared with their crooked and corrupt cronies.


So, at what point during Jona and Okonjo's term in office was the economy better managed and Nigeria's checkbook was in black, solvent and positive.

What part?

Jona not only borrowed from his 1st day in office, he borrowed till his last day in office and it was so bad that they borrowed to pay salaries.

deomelllo:


He actually inherited $48 billion and degraded it down to $29 billion by May 28 2015. 48-29=18

What did Okonjo and Jona do with $18 billion? This is on top of the Trillions he borrowed and the largest oil earnings in the history of Nigeria.

Even with all that, Jona still introduced austerity measures.

The most important question is? Who created the need and necessity for states to be bailed out with government funds?





It doesn't matter how you spin, cut and dice it, fact remains that Jona depleted our reserves down to $29 billion.

Jona was borrowing at least N100 billion monthly from his 1st year in office and by the 2nd year, he's borrowed over N2 Trillion.

By his 2nd year in office when oil was selling at positive peak of $116 and oil windfall, Jona and Okonjo warned us to get ready for recession. Why?

By 2014, Jona and Okonjo introduced Austerity measure

By 2015, Jona and Okonjo borrowed over N450 billion to pay workers salaries.

What about the $2 billion Jona and Okonjo stole that DASUKI ATM shared with their crooked and corrupt cronies.


So, at what point during Jona and Okonjo's term in office was the economy better managed and Nigeria's checkbook was in black, solvent and positive.

What part?

Jona not only borrowed from his 1st day in office, he borrowed till his last day in office and it was so bad that they borrowed to pay salaries.

fabre4:



Ignorance is a disease... I was against the timing which was January 1st but after listening to sanusi some people were still adamant not minding the consequence yet they still blame Jonathan


One question Did The Governors in OBJ Government do the same thing Amaechi and co did mind you it was amaechi's faction not all the governors that went to court

LadyExcellency:


I just put it to you that you were lying.

You said Jonathan inherited $60b. Is it true or false.

Where did Buhari got the money for bailout?

NLNG royality made during Jonathan administration was $5 billion. The truth is nobody calculated what we had as at May 29th because it wasn't month ending hence APC wanted Nigerians to think that the purse was empty while the Allocations were monthly based.

NB. I wasn't trying to deceive anybody with my figures because I posted a link for verification. Moreover, as much as I want to win a debate, I want us to be factual.

CaptJeffry:
This is disheartening. I know Duke is a mafia but I never knew he could be evil minded towards an SS brother.

Where I've seen Duke and Ben Bruce in Los Angeles isn't a place one sees ordinary men. This is why I smile when people refer to them as nice guys.

poseidon12:
Where did you see them at?

RexTramadol1:
If he cn leak a private conversation without Iweala's consent, he will one day sell the country's destiny for the right price.

Xander85:


Messed up which economy? You must be referring to a Nigeria in a parallel universe!

Nigerias' economy was on an upward trajectory when GEJ and Okonjo-Iweala were in charge. Almost all socio-economic indicators were positive. This kwarruption-kwarruption you numbskulls keep on parroting about just to try and deflect blame for Buhari and APC gross incompetence and running the economy aground....you know Nigeria performed better in the corruption perception index during the time of GEJ? Even regarding security, can you actually say Nigeria is more secure today than when GEJ was President? Wasn't the naira better valued during the GEJ years than it is today with you 'man of integrity' in power? The present job losses nko.....can you compare the present job data to those of the GEJ years?

Come to think of it, since your 'saint' is now in power and corruption has purportedly been reduced to its barest minimum...since the price of oil has been above the budgeted estimates for at least the past two budgets....since the Buhari gov't has recovered all the billions of dollars they say GEJ gov't and PDP stole since 1999...since all this is now the case shouldn't we be experiencing economic boom and happiness?

You guys are so annoying walahi!

Whynotthetruth:


Oil sold for $28 for a reasonable time under Jonathan... Also go and understand the arithmetic of high oil price without deregulation... Finally, ignorance doesn't pay, for how many months did Jonathan borrow to pay? He borrowed to pay for a month salary because budget wasn't approved already by NASS...

chronique:


This is not how to calculate what Nigeria earned under Jonathan. The figure you've mentioned is a gross amount based on OPEC prices. It doesn't represent nor take into consideration, deductions that would be made after the major IOCs take out their share from these figures, it doesn't take into account deductions for cost of operations, etc. Take for example, OML xyz is operated as a JV between chevron oil exploration and the nnpc with a sharing formula of 51-49% or 60-40%. If that field is producing 100,000 bpd and OPEC's selling price is $60,that would amount to about $6bn. $6bn doesn't go to the federal government but would be shared in agreed sharing formula between the fg and the ioc. Fg via the nnpc would still deduct their own cost of production before arriving at a net figure that would be remitted to the fg. There's a lot of misinformation out there in the media and it's killing us as a nation.

rusher14:


Show me one refinery in USA, UK, Korea owned by the country.

States don't run businesses.

How long would take you to understand this simple concept?

DoTheNeedful:
Like you know the nature of what they discussed. Sowore has always reported issues as they relate to the country. Wetin bring undressed wife here. I am done with you. You are inferior!

LordAdam16:
Yes, go call a Secretary of a US Department on a private number reserved for family, have the call hung up on you, then go release said conversation online. And see if you have a job by the next morning.

There was nothing responsible about that Sowore's encounter with her. She has her official line, official email address, she has an address; place a call or send a mail (physical or electronic) to set up a meet or interview like an ethical journalist. If she doesn't respond, you publish your article and cite the fact that she did not respond after multiple tries. Go read PremiumTimes investigative pieces.

By the way, Sowore is beneath her. There are places she enters that Sowore would not dream of entering even if he becomes the president. He is a waste of time, not deserving of any attention, always has been.

-Lord

DWJOBScom:
Finally someone spoke out!
It's sad that people don't research before speaking. The sovereign wealth fund(which Amaechi and co chose to share up and got jets with it) and YES Am on other things we don't know were her brainchild

rusher14:
For one, nobody has given him monopoly.

There are other players in refinery business in Nigeria such as Petrolex.

Secondly, even without the private refineries are we not facing this so-called danger?

SternProphet:


Please stop this. All JV companies still pay royalties and taxes on the oil shared. The true formula ranges from 65 - 85% for JVs but things ar better for ol coys on PSCs.

famosh:


Boy, you should be advising yourself about ignorance & DELUSION not being a plus! So what specific month did the links tell you FG borrowed to pay? Did the links tell you FG borrowed just because budget wasn't ready? Didn't you see the major reason why FG had to borrow to pay salaries? You just copy & paste links without understanding what's there! Your type full Nairaland!

laudate:


Sovereign Wealth Fund was NOT her brainchild. Do your research. Olusegun Aganga during his initial short tenure as Minister of Finance under GEJ, created the Sovereign Wealth Fund (SWF) to formalise a mechanism for national savings in 2011, before he was transferred to the Trade and Investment ministry. The Nigeria Sovereign Investment Authority Act was then signed into law, by President Goodluck Jonathan, with funds drawn from the Excess Crude Account (ECA).

famosh:


Bla bla bla!
Just don't let them catch you during your next drug-peddling trip to Cambodia! You won't be spared & will go down the road of your brothers!

prince3009:


Seun seriously needs to initiate something known as a "Brain Test Survey" for people to fill up and submit before they are given full membership rights into Nairaland because it seems yabaleft escapees just snatch people's phones randomly and the first site they visit is NL and begin to comment.

bekpo:


What is d nexus between subsidy removal and sale of crude oil? That d kind of orientation he brainwash gullible like u, for me most of us r wise and can not allow ourselfs to be deceive

nwakibie3:


U be real mumu if u dont know the nexus between subsidy and sale of oil price. So u dont know the higher the oil price the higher the subsidy govt pays?

anyaekekehinde:


Maybe I am very dull and that's why I don't understand the concept.
But I am not too dull to know the following are state run oil companies with refineries


Saudi Aramco

India Oil

Rosneft

Abu Dhabi National Oil Company

National Iranian Oil Company

China National Petroleum Corporation

Kuwait Petroleum Corporation

Petroleos de Venezuela.


I would have insulted after you mentioned Korea, because it means you have not heard of KNOC which is the national oil company of Korea, read about them and the Oil refinery they have.
Wikipedia will help a bit, but you can research more about their operations

https://en.m.wikipedia.org/wiki/Korea_National_Oil_Corporation?wprov=sfla1

prince3009:


You mean like this your brother Tayo Ayoade pictured below caught doing it on the low in the streets of Oshodi...

https://www.nairaland.com/4229524/road-union-member-134-wraps

Or your sisters (A mother and Daughter) who decided to support the males doing skull mining with their little contribution of selling cannabis in Ogun...

https://www.nairaland.com/3982410/mother-daughter-arrested-selling-cannabis

Should I cite more?

laudate:


Petrolex does not own a refinery. It has a petroleum products depot and tank farm. Its' plans to build a refinery are still on paper, and have not been actualised.

ireneidiva:
You that saw them there, what were you doing there?

rusher14:


Enwerem (Evan or Evans) take your pick;

Okadigbo;

Wabara,

Ayim

All express the solidarity of Biafra.