The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri - Politics - Nairaland
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| The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by NwaNimo1(m): 11:01pm On Sep 06, 2020 |
At least three major UK-based companies appear set to deliver a fatal blow to Nigeria’s economy due to the cluelessness of the Muhammadu Buhari administration. P&ID is already an infamous example of how having an inept leader is about to cause Nigeria to lose almost $10 billion from our foreign reserves, or other foreign assets, simply because Buhari did not set up his cabinet for six months after being sworn in, and left government to his unelected cabal, who were more interested in lining their pockets. Additionally, Buhari erroneously thought the P&ID contract was signed under former President Goodluck Jonathan. So he dragged his foot and instead approached a US court for a subpoena, which he got, to search for hidden accounts held by Jonathan. Alas, he found none (because none exists), and it was belatedly brought to his attention that the contract was signed under former President Umaru Musa Yar’Adua, and specifically by Rilwan Lukman, who ironically was a crony of Buhari. And now, due to a mix of tribalism and ineptitude, Nigeria is stuck with a $9.6 billion judgment debt. And then there is the Azura power purchase agreement (PPAs) and loan guarantee, which former President Jonathan wisely refused to sign, but which, unlike the former president, Buhari agreed to sign. By signing an indemnity clause for a World Bank loan, President Buhari has now saddled Nigeria with a compulsory monthly payment of $30 million a month, whether or not the plant takes off and delivers as scheduled. And now, for the latest one. Another European company, Eurafic Power Limited, has secured a judgment debt against Nigeria because the Buhari administration mishandled a simple contractual agreement. As you read it, they are in the process of placing a lien on 33 assets Nigeria has in the United Kingdom. Why do these gaffes keep on occurring and reoccurring on Buhari’s watch? This is not the first time this is happening. Nigerians in their 40s and above would remember that in 1984, General Buhari also unilaterally and without thought to the consequences, cancelled the Lagos Metro-Line project of the Lateef Jakande-led civilian administration, and incurred a judgment debt to Nigeria of the whole sum of the contract, as punitive damages. In other words, we paid for the project, and we still did not get the project. It is precisely because of Buhari’s ineptitude that Nigeria went from being the world’s third fastest growing economy, in 2015, to the world headquarters for extreme poverty today. Buhari is a plague, a cancer, a cankerworm and a disaster that should never have befallen Nigeria or any other nation on Earth. And these unforced errors are taking a toll on Nigeria’s finances. The rats have sensed that we are sinking under Buhari and are abandoning ship. There has been an unprecedented exit of foreign investment from Nigeria. We have lost our place as West Africa’s top recipient of Foreign Direct Investment to Ghana. And the reason for this is not #COVID19. Ghana also suffered from the coronavirus. By the end of the second quarter of 2020, foreign investment inflow into Nigeria was ₦ 143.65 billion. That may look good on paper until you factor in the fact that outflow stood at ₦287.57 billion. The inconvenient truth is that Nigeria experiences a negative FDI flow of ₦143.92 billion. And the government’s recent actions show that the penny has not dropped for them. Rather than stimulate the economy, they are taking measures that will ensure the ruination of the economy. America plans a new $2 trillion stimulus for citizens in the wake of #COVID19 (this is in addition to the $2 trillion they have already given). Ghana has been paying utility bills for citizens for months. And Nigeria’s answer to COVID19 is increasing electric and fuel prices? Instead of a September to remember, Buhari has given Nigerians a September to dismember their hopes, dreams and aspirations. Nigeria badly needs a new occupant in Aso Rock! On September 1, 2020, the National Electricity Regulatory Commission, NERC, increased electricity tariffs and the Petroleum Products Pricing Regulations Agency, PPPRA, also increased fuel prices. In a country that is already the world headquarters for extreme poverty. How much more can Nigerians take? This is the same country that wanted to spend $500 million renovating the Nigerian Television Authority (NTA). If the government has such careless money to throw around on an unnecessary expenditure (who even listens to NTA), then why burden citizens with such burdens as this recent increase in tariffs? And to make matters worse, the All Progressives Congress released a statement blaming the Peoples Democratic Party for the new fuel price increase. Five years in power and they are still bowling? When will these people ever take responsibility for their actions? Meanwhile, true to his Taqiyya nature, Buhari lied during the 2015 campaigns that he would sell off our Presidential jets and cut down on the running costs of the Presidency. This is his fifth year in power, and he has not sold even one plane. Instead, his children use Presidential jets to attend private functions! Imagine what would happen if ex-President Jonathan had done that! And to crown it all, you have a President that cannot manage his own home (his wife and his relations fight publicly at Aso Rock), that can’t manage the Boko Haram war, or the economy, or our relationship with Ghana, yet he wants to use CAMA to manage the affairs of churches that are managing their affairs better than his? Is Buhari even okay at all? It makes more sense for him to call on the churches he wants to manage to come and manage both him and his government. Who should be managing who? This is a man who signed a document where his name was written wrong. You can’t manage your name, and you want to manage their game? All of these remind me of something former President Jonathan said on Wednesday, December 10, 2014: “The choice before Nigerians in the coming elections is simple: A choice between going forward or going backwards; between the new ways and the old ways; between freedom and repression; between a record of visible achievements and beneficial reforms – and desperate power-seekers with empty promises.” Was Dr Goodluck Jonathan wrong? Nigerians are now in a position to make an informed judgment. Reno’s Nuggets The very first income you enjoy in life is your mother’s breast. Two of them. Not one. Again, I repeat, not one! From the day you were born, nature was teaching you never to rely on a single source of income. If one breast does not produce milk, the other will. If your mother had only one breast, and that single breast fails to produce breast milk, you would have perished. The reason you are perishing now is because you are depending on only one breast, in the form of salary. You need multiple breasts to suck on. If salary fails, then you suck the breast of business!   #FreeLeahSharibu #RenosNuggets https://www.thisdaylive.com/index.php/2020/09/06/the-financial-costs-of-buharis-cluelessness/  5 Likes 1 Share |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by MalcoImX: 11:04pm On Sep 06, 2020 |
Reno who is bankrolling you? The key to political success: Reno (also known as Wendell Simlin) is a charlatan. 1 Like |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Racoon(m): 11:07pm On Sep 06, 2020 |
This is not the first time this is happening Nigerians in their 40s and above would remember that in 1984, General Buhari also unilaterally and without thought to the consequences,cancelled the Lagos Metro-Line project of the late Chief Lateef Jakande-led civilian administration.Abeg give it to Reno.Always on point, precise and factual Bubu's cluelessness & incompetency that zombies are defending today started since antiquity.A failure is always a failure.Never reinforce failure. 16 Likes 2 Shares |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by horsepower102: 11:09pm On Sep 06, 2020 |
Reno never misses. He comes with his facts. 11 Likes 1 Share |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Racoon(m): 11:11pm On Sep 06, 2020 |
“The choice before Nigerians in the coming elections is simple: A choice between going forward or going backwards; between the new ways and the old ways; between freedom and repression; between a record of visible achievements and beneficial reforms – and desperate power-seekers with empty promises.”Deja vu or karma-which side do you find yourself? Many are already repenting but next level still remains three solid years. 9 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by softeeg: 11:13pm On Sep 06, 2020 |
mockery kills faster than covid, is that true? |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Nobody: 11:15pm On Sep 06, 2020 |
Buhari Government fast making the saying that goes "forward ever and backward never" to need a rethink, please take the economy back to the way you met it when you came Lower fuel price, bag of rice #8000, #5 was still useful ( now #5 is like a puzzle, if you have one you have to look for another somewhere in others to use it) and so on.... 3 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by obami007(m): 11:18pm On Sep 06, 2020 |
This Reno doesn’t come to the table with fables. He knows his onions 7 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by PlayerMeji: 11:21pm On Sep 06, 2020 |
How Baba... I don tire for this country |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Nobody: 11:29pm On Sep 06, 2020 |
Wow! Reno and his facts. 5 Likes 1 Share |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Vyzz: 11:50pm On Sep 06, 2020 |
You can never see simplyleo and the BBQ guy here.... Our darling daddy can't be dumber... 7 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by GamalNasser: 11:54pm On Sep 06, 2020 |
I would put the financial cost of Buharis incompetence on Nigeria since 1983 at 500 billion dollars 6 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Brandstudio01: 12:19am On Sep 07, 2020 |
The guy above wish he could occupy the entire post so people won't voice out their frustration 2 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by MASTAkiLLAh(m): 12:38am On Sep 07, 2020 |
General Muhammadu Buhari is the greatest disaster ever to befall this country since the civil war... Fact  7 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Iwanttoto: 1:21am On Sep 07, 2020 |
Nairaland nuisance() will avoid this thread like Covid-19 6 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Saao(m): 1:49am On Sep 07, 2020 |
Buhari just destroy Nigeria 4 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by NGpatriot: 2:22am On Sep 07, 2020 |
FG borrows N473bn to pay salaries – Okonjo-Iweala Listen to this crooked, fake, lying, fraudulent and identity thief fake pastor, is he talking about the economy that they wrecked when they declared austerity measures when oil was selling for $77/barrel or the one they were borrowing hundreds of billions every month to pay workers salary? Loot at the date in red, just days before handing over to PMB, they borrowed to pay salary till their last days in office, they didn't even bother to release 1 kobo to fund capital projects, I repeat, not even 1 kobo for capital projects. So, if the economy was so good, why borrow billions every month to pay salary and not 1 single kobo to fund 1 inch of road or 1 single classroom? If the economy was so good, why declare austerity measure as far back as 2014. These clowns really think we have amnesia and we did not witness their looting is not stealing economy on the brink they left. behind, even countless abandoned projects. This crooked wendell simlin and no church having fake pastor need to shut up sometimes.. 3 Likes 1 Share |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by NGpatriot: 2:30am On Sep 07, 2020 |
Reno olodo aka wendell simlin, is Rivers state still not paying for Amaechi's monoral that Wike the overfed buffoon stopped and refused to complete? Your useless boss spent 6 years in office but did not start or finish 1 single project, oh I forgot, almajiri classroom. Oponu hypocrite. |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Achuwa1(m): 3:04am On Sep 07, 2020 |
NGpatriot:Where did Reno lie ? Coz all he said was true & you are busy giving credit to bubu on projects Jonathan almost finished before they ganged up against him but your bubu is trying to take credit for all those projects when he didn't even start a project in his tenure. 6 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Achuwa1(m): 3:10am On Sep 07, 2020 |
Bubu Negative achievements in focus are; Ungodly taxes,fuel hike, electricity hike,job losses,China concessions that have bought Nigeria soveirenity. [b]Bubu positive achievement's in focus are; [/b]Giving out Zara & Hana for marriage to his wealthy cronnies. 4 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by kalu61(m): 4:45am On Sep 07, 2020 |
danielconstant:Telling my president to take things back the way he met them is future impossible tense. If he can do it, it's a big achievement for him despite not doing anything to add to what he met on ground. 5 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by MANNABBQGRILLS: 4:48am On Sep 07, 2020 |
NGpatriot:You've said it all patriot. For the 16 years of locust, looting and waste, The last 2 presidents and their cronies looted our national treasury dry and out. The Excess Crude Account was looted dry. Foreign reserves drawn down. Federation Account, emptied. And the economy was set on an irreversible path to recession. And they say; don't talk about it. Focus on the present and the future only. How we miss Fela Anikulapo-Kuti. He would have said: "I go shout o, I go shout plenty o." If we don't focus on the past, we are then liable to make the same mistakes. "Those who cannot learn from history are doomed to repeat it." (George Santayana). Truth is bitter. There was a country! May God punish them all. May they all never end well in life. We Rise! https://www.nairaland.com/6101135/ex-government-officials-spent-p-id#93634229 1 Like 2 Shares |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by MANNABBQGRILLS: 4:53am On Sep 07, 2020 |
All the small thieves, aka, supporters of criminals and looters never saw this thread that was on Frontpage some hours ago to comment on, but see them bleating all over here. Number one Characteristic of wailers : HYPOCRISY!! https://www.nairaland.com/6101135/ex-government-officials-spent-p-id#93634229 In March this year, Nigeria discovered payments to the woman’s daughter of US$4,969.50 on 30 December, 2009, and US$5,000 on 31 January 2012 respectively. In her first statement, the official says that at no time did she provide illegitimate assistance to P&ID. In her second statement, she clarifies what she had previously said about the deposit in her bank account on 19 and 20 August 2010 and explains that it represented the proceeds of sale of a number of vehicles and a plot of land.And these is what some children of hate, frustration and perdition are castigating sane, honest and hardworking Nigerians that voted out these criminals and their principals? Sane Nigerians, You can see how these bastards ran our nation for 16 years of failure, despite our country making the highest revenue during the 16 years, we have nothing to show for it as a nation. They rather took us 60 years back with their blind looting. We will continue to hit them with hard truths. There was a nation! May it never be well with any politician that looted our National treasury, no matter the party they are. Along with their supporters. PassingShot:You've said it all. Some of them aren't actually kids, They are just hypocrites who willfully want to be blind to the truth. They are only pained now, because the corruption money they depend on and see freely is no more circulating for them. Lazy ass mofos they are. We know good and real Nigerians when they speak out about what is not going on right in our country. We know those that are genuine when they speak about the ills of our society. Which must be addressed. We rather stand with those kind of people, Than some wailing losers. Patriotic Nigerians Do not Waste time Arguing with Buhari Haters We are not talking about critics who are genuinely concerned about a better Nigeria, You will know them because when they see good efforts of government they applaud. But the others, the one who swore on their lives Buhari will never be president, the enemies of the nation, are the ones we are talking about. Again, There was a country! 1 Like 2 Shares |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by complexBoss12: 4:54am On Sep 07, 2020 |
the problem is that most people just read this as news without realising that the smallest decision of the weak vegetable up there is affecting even the price salt in the mrkt The moment we realise that these things have a direct impact in our daily lives, the better. 3 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by NGpatriot: 4:56am On Sep 07, 2020 |
Achuwa1: COmedians, are you people not tired of spewing this almost finish nonsense? What exactly did Jona started that he almost finiheed after 6 years in office? Does your irrelevan rubbishh alter the fact that upt till a few days befofe jona hand over to PMB, he was borrowing hundreds of billions every month to pay workers salary and not 1 single kobo was released for capital projects? So, after borrowing hundreds of billions to pay workers salary and not 1 single kobo for capital projects, exactly how was he going to start and finish anythng? By money for capital projects dropping from the sky? 6 years of jona did not start and finish 1 single project. 6 years of jona did not start and finish any project in the whole of SW and SS, only almajiri classroom in the North even though Nigerian earned more from oil under Jona than any other adminsitration in the history of Nigeria. The $2.3 billion he stole and gine to Dasuki to share with his cronies like Fayose, Metuh and others was enough to build 2 Lagos Ibadan railway that PMB started and almost completed in less than 3 years. It's not by force to comment. 1 Like 2 Shares |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by NGpatriot: 5:09am On Sep 07, 2020 |
Austerity - We're Ready for the Worst - Okonjo-Iweala This was back in 2014 when oil was selling for $74, GEJ declared austerity measure and his useless and incompeten salary borrowing finance minster carry megaphone to cry and yell that the worst is coming, but this lying buisance, crooked and fake pastor is triying to fool himself and his gullible ipob followers that they left a good economy when in fact they left a comatose economy and a country full of abandoned projects everywhere, a government that was on life support with borrowed billions to pay salaries till their last week in office. Liars and scumbags.. 1 Like 1 Share |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by NGpatriot: 5:14am On Sep 07, 2020 |
post=93657197: Well said. If th economy was so good, why delare austerity measure? If the economy was so great, why borrow bllions every month to pay workers salary. If the economy was so great, why was it so difficult for them to release 1 single kobo for 1 inch of road? If the economy was so good, how come they did not commission anything meaningful after 16 years in power? Of course, they were busy looting, stealing and sharing. 1 Like 2 Shares |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by ivandragon: 5:32am On Sep 07, 2020 |
Some chaps are obviously pained that PMB is going against everything they used to praise him in the recent past. PMB has exposed their 'mumu' nature & they feel the best thing is to attack the previous administration for the same things this rudderless administration is doing worse... https://www.vanguardngr.com/2016/06/fg-borrowing-pay-n165bn-civil-service-salaries-adeosun/ 3 Likes 2 Shares |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by History555: 5:54am On Sep 07, 2020 |
You cancelled a mono rail project only to pay the full costs as penalties. Would it not have been better to reverse the cancellation and ask they complete the project This is beyond financial recklessness, this is sadism on a whole new level 4 Likes 1 Share |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by ZKOSOSO(m): 5:58am On Sep 07, 2020 |
Shameless children of terrorists ravaging Nigeria economy with impunity are still bold enough to even write in defence of clear illiterate managing the destruction of a same Country he's supposed to develop better than he met it in 2015.... Shame on all defenders of BuhariAPC 4 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by Achuwa1(m): 6:02am On Sep 07, 2020 |
NGpatriot:The money stolen & looted under this regime cannot be compared to even the Abacha loot tht we are still recovering after 20 years. Is it the one ongoing under NNDC,is the one they found at Amaechi house at ikoyi & claim is for NSA,is it the one they found at Kaduna airport,is it the one in NEDC,is it one snake swallowed ,is it the one they just discovered in NNPC,intfcat it seems is now all ministry under this govt tht is involved include Lai.mohammed ministry.etc Warri-itakpe rail was started & almost completed by GEj,Abuja-kaduna rail was started & almost completed by GEj, second naija bridge started & ongoing before GEj left. The only rail line bubu started was the one he borrowed from China & concessioned our soveirenity to China ..I think thts lagos-ibadan. Bubu borrowed money no regime has ever borrowed since the almagamation of Nigeria & even our creditors IMF are the ones now dictating what happens in our country ,even we don't know when China will start their own wahala. 5 Likes |
| Re: The Financial Costs Of Buhari’s Cluelessness - By Reno Omokri by JAMO84: 6:17am On Sep 07, 2020 |
Reno Omokri is a clown thriving on the emotional destitution of Mr Jonathan's supporters. He knew they are yet to recover from the thorough beaten of Jonathan by Buhari in 2015 and they are always excited whenever Reno gives them a consolation in form of falsehood and outright lies. Whenever Any PDP official or supporter says the economy was doing well in their time, I would just laugh and shake my head. Even in your household, if you cannot pay the salaries of your gatekeeper, Cook, Washman, house help, Drivers and other domestic staff except you borrow from friends or take loans from your employer, only morons would believe that you are doing well financially. I AM DONE TALKING 1 Like 1 Share
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