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External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations - Politics (6) - Nairaland

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Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:09am On Nov 07, 2014
barcanista:
@ Omenka Obiagelli Berem NgeneUkwenu ibnsultan egift and All Progressives, FINALLY someone(A Jonathanian) admits that Jonathan was a FLOP relative to Obasanjo and Yar Adua!!! grin grin grin

Thank God for this day!!!

I join you in the laughter bro grin grin grin grin Jonathan must be kicked out but PDP must stay.... your understanding is legendary grin grin grin

24 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:09am On Nov 07, 2014
datolee:



Final question, did any of these fund taken out of the external reserve? if the answer is NO, then what is your point really?
My friend, you seem to be avoiding my last Post lolsss..
As at Yar Adua's time, There was Positive in the Reserve, it increases with oil Price and reached Amiable 64 billion Dollars. Only Slipped during the recession, when the Oil Price was meagre $30 per barrel. Note that Yar adua bailed the DYING Banks. Yet we have a good external debt. The increase in budget between 2007 and 2008(his time) was due to the fact that he restored the subsidy that Obasanjo had removed in the 2007 budget. In other words, the government paid extra for Fuel.

And he left $45 billion in reserve.


Jonathan's case, Oil Price was between $80-$107, No recession, yet our Reserve was HEAVILY depleted, and our Debt heavily damaged. In normal circumstance, the Reserve Should be going up with good oil price not even stagnant, not to talk of retrogression.

There is no infrastructure on ground neither improvement of our well being.

1 Like

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:10am On Nov 07, 2014
datolee:


Answer to your question.. no I didn't because it is inconsequential to the debate.

I wonder why you people never answer any of my questions, rather you go to next topic. who is paying maradona here?

You are asking why gej's budge is 5 times obj's, i asked if you factored inflation and exchange rate, you are telling me its inconsequential?

If it cost me 10k to feed in 2003, it will cost me 30k today. I hope you get it

Btw those budget figures are in naira (i believe), go and check the exchange rate and stop clowning.

Barcanista, teach this man abeg.

7 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:14am On Nov 07, 2014
datolee:
I will derail a little here.. please forgive me. So from your statements, OBJ and Yaradua were the Messiah of our time?

The last I checked, they were under the PDP... so by extension, the problem of Nigeria is not PDP but GEJ?? I thought your party said that PDP have kept us in darkness for 16 years, I didn't know that alternative name for GEJ is PDP.

I really can't stop laughing... grin grin grin grin grin grin grin

No gej is the worst of them.

1 Like

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Firefire(m): 9:15am On Nov 07, 2014
Bacanista,

I am here to support my comrade Detolee.

3 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by ayukdaboss(m): 9:16am On Nov 07, 2014
Opiosko:
Macro econs or Micro econs, my point is that these presidents faced different challenges and GeJ's is one that has not been seen before. [s] How much have we spent on military hardwares alone to upgrade our military in the past few yrs?.. [/s]
2010 - 2.14billion DOLLARS
2011 - 2.38 BILLION DOLLARS
2012 - 2.1 BILLION DOLLARS
2013 - 2.2 BILLION DOLLARS
TOTAL = 8.82 BILLION DOLLARS
Plus 1BILLION DOLLARS JONA.DAFT JUST BORROWED!

http://militarybudget.org/nigeria
Now Read Below:

Soldiers Revolt In Maiduguri Over Inadequate Weaponry And Poor Condition A ngry soldiers from the newly formed 7th Division of the Nigerian Army in Maiduguri today May 14th revolted against their General Officer Commanding, Major General Abubakar Mohammed , shooting sporadically in the air at Maimalari barracks, which is also home to the Artillery Corps, the Ordinance, as well as army signals in Maiduguri, Sahara Reporters reports According to two soldiers who spoke with SR, the soldier became enraged when they saw the bodies of their colleagues ambushed and killed by Boko Haram men in Chibok, Borno state. The angry soldiers immediately started shooting into the air, complaining that their superior have failed to provide them with adequate weaponry with which to fight the war against the better- armed Boko Haram militants. “We the soldiers don’t have the kind of arms and ammunition that [Boko Haram] fighters have. So everyday, they kill our men anyhow, but it is never published in the media,” said one source. The other source also complained that the commanding officers “are too busy ‘eating’ money. And they do not pay our allowances on time. And once [a soldier dies], nobody knows what happens to his allowances again.” The sources also revealed that also that the mutinying soldiers were fed up that their military commanders have not devised a troop rotation system to ensure that those in combat can get some rest before being redeployed to continue the bloody and frustrating war with Boko Haram insurgents. General Mohammed narrowly escaped out of the barracks to an undisclosed location.
Where did the the military keep these weapons? In your house?

And why the hell is Jona.daft censored? angry

7 Likes 1 Share

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Firefire(m): 9:18am On Nov 07, 2014
barcanista:
He has finally admitted. But we will still get into more of the wastage in another thread.

Admitted what

1 Like

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by EldaTimba(m): 9:18am On Nov 07, 2014
Obiagelli:


You are asking why gej's budge is 5 times obj's, i asked if you factored inflation and exchange rate, you are telling me its inconsequential?

If it cost me 10k to feed in 2003, it will cost me 30k today. I hope you get it

Btw those budget figures are in naira (i believe), go and check the exchange rate and stop clowning.

Barcanista, teach this man abeg.
You are wrong Ma. In 2003, a dollar is roughly 120 naira. 2014, it is approximately 160 naira. This means there is 25% fall in the value of naira(1/4).
By your arguments, should we ha just 25% increase in our budget?

2 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:19am On Nov 07, 2014
Obiagelli:


You are asking why gej's budge is 5 times obj's, i asked if you factored inflation and exchange rate, you are telling me its inconsequential?

If it cost me 10k to feed in 2003, it will cost me 30k today. I hope you get it

Btw those budget figures are in naira (i believe), go and check the exchange rate and stop clowning.

Barcanista, teach this man abeg.
The guy is funny, I will treat the budget Issue in another thread. I deliberately decided to leave it out. He is avoiding this...

As at Yar Adua's time, There was Positive in the Reserve, it increases with oil Price and reached Amiable 64 billion Dollars. Only Slipped during the recession, when the Oil Price was meagre $30 per barrel. Note that Yar adua bailed the DYING Banks. Yet we have a good external debt. The increase in budget between 2007 and 2008(his time) was due to the fact that he restored the subsidy that Obasanjo had removed in the 2007 budget. In other words, the government paid extra for Fuel.

And he left $45 billion in reserve.


Jonathan's case, Oil Price was between $80-$107, No recession, yet our Reserve was HEAVILY depleted, and our Debt heavily damaged. In normal circumstance, the Reserve Should be going up with good oil price not even stagnant, not to talk of retrogression.

There is no infrastructure on ground neither improvement of our well being.
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:20am On Nov 07, 2014
EldaTimba:

You are wrong Ma. In 2003, a dollar is roughly 120 naira. 2014, it is approximately 160 naira. This means there is 25% fall in the value of naira(1/4).
By your arguments, should we ha just 25% increase in our budget?
Inflation @ an average of 10% yearly, did you factor that too?
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by EldaTimba(m): 9:20am On Nov 07, 2014
Firefire:


Admitted what
Are you answering him, HE IS POINTLESS. Their hypocrisy is at its peak. They wouldn't want to discus expenditure but would wish to discus oil price.

3 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Descartes: 9:21am On Nov 07, 2014
ayukdaboss:

2010 - 2.14billion DOLLARS
2011 - 2.38 BILLION DOLLARS
2012 - 2.1 BILLION DOLLARS
2013 - 2.2 BILLION DOLLARS
TOTAL = 8.82 BILLION DOLLARS
Plus 1BILLION DOLLARS Jonathan JUST BORROWED!

http://militarybudget.org/nigeria
Now Read Below:

Where did the the military keep these weapons? In your house?







Thanks. Another hidden facts.Nothing shall be swept under the carpet.

2 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:22am On Nov 07, 2014
ayukdaboss:

2010 - 2.14billion DOLLARS
2011 - 2.38 BILLION DOLLARS
2012 - 2.1 BILLION DOLLARS
2013 - 2.2 BILLION DOLLARS
TOTAL = 8.82 BILLION DOLLARS
Plus 1BILLION DOLLARS JONA.DAFT JUST BORROWED!

http://militarybudget.org/nigeria
Now Read Below:

Where did the the military keep these weapons? In your house?

And why the hell is Jona.daft censored? angry
The Weapons are in my family house in Okrika grin grin

4 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:22am On Nov 07, 2014
barcanista:
The guy is funny, I will treat the budget Issue in another thread. I deliberately decided to leave it out. He is avoiding this...

Btw we have not even started to factor subsidy and sure p.
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:23am On Nov 07, 2014
EldaTimba:

Are you answering him, HE IS POINTLESS. Their hypocrisy is at its peak. They wouldn't want to discus expenditure but would wish to discus oil price.
What expenditure are you talking about abeg?
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Firefire(m): 9:23am On Nov 07, 2014
datolee:


Lets do this exercise once again.

Do you agree that OBJ left $3 billion in debt?

Do you you agree by the time Yaradua left, the debt only increase by about $500 million

If you agree by these, would also agree that as at today, Nigeria debt has only increased by $2.42 billion since Yaradua left office?

Lets be guided...

Bacarnista and APC Team be guided accordingly.

3 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:24am On Nov 07, 2014
Obiagelli:


You are asking why gej's budge is 5 times obj's, i asked if you factored inflation and exchange rate, you are telling me its inconsequential?

If it cost me 10k to feed in 2003, it will cost me 30k today. I hope you get it

Btw those budget figures are in naira (i believe), go and check the exchange rate and stop clowning.

Barcanista, teach this man abeg.

So what is your problem?

Let me recap once more. During OBJ's time, after paying off the debt, he borrowed extra $3 billion

GEJ has only borrowed $2.42 billion..

OBJ paid off our loans through paris club whatever agreement in 2005. http://news.bbc.co.uk/2/hi/business/4637395.stm withing 2 years, he had borrowed additional $3 billion.. If we take it on straight line that every 2 years we borrow $3 billion, how much would be our debt profile by now?

Do the maths while I have my late lunch.. thanks

10 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by luvmijeje(f): 9:25am On Nov 07, 2014
Nice thread.
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:25am On Nov 07, 2014
Obiagelli:

Btw we have not even started to factor subsidy and sure p.
Like I said, the subsidy is in another thread. When you lump them all into one, people may not get all the message. We gotta break them by piece
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Firefire(m): 9:25am On Nov 07, 2014
EldaTimba:

Are you answering him, HE IS POINTLESS. Their hypocrisy is at its peak. They wouldn't want to discus expenditure but would wish to discus oil price.




Funny people... grin





No amount of propaganda by APC and her team of fighters both on the field, online and offline can intimidate Nigeria sovereignty under the leadership of the Lucky one.

9 Likes 1 Share

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:28am On Nov 07, 2014
datolee:


So what is your problem?

Let me recap once more. During OBJ's time, after paying off the debt, he borrowed extra $3 billion

GEJ has only borrowed $2.42 billion..

OBJ paid off our loans through paris club whatever agreement in 2005. http://news.bbc.co.uk/2/hi/business/4637395.stm withing 2 years, he had borrowed additional $3 billion.. If we take it on straight line that every 2 years we borrow $3 billion, how much would be our debt profile by now?

Do the maths while I have my late lunch.. thanks
Stop being Clever by half. Nigeria Loan was $30 billion, 18 billion was cleared by Paris Club, while Obj reduced the rest to $3billion. He still had a Balance of $45 billion in Reserve.

Why are you running away from this?
As at Yar Adua's time, There was Positive in the Reserve, it increases with oil Price and reached Amiable 64 billion Dollars. Only Slipped during the recession, when the Oil Price was meagre $30 per barrel. Note that Yar adua bailed the DYING Banks. Yet we have a good external debt. The increase in budget between 2007 and 2008(his time) was due to the fact that he restored the subsidy that Obasanjo had removed in the 2007 budget. In other words, the government paid extra for Fuel.

And he left $45 billion in reserve.


Jonathan's case, Oil Price was between $80-$107, No recession, yet our Reserve was HEAVILY depleted, and our Debt heavily damaged. In normal circumstance, the Reserve Should be going up with good oil price not even stagnant, not to talk of retrogression.

There is no infrastructure on ground neither improvement of our well being

4 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by omenka(m): 9:28am On Nov 07, 2014
major466:
The more I see post like these, the more I'm made to believe that APC got nothing to offer as far as economic development is concerned.

Every government have a peculiar kind of challenge. Challenge of international trade as it affect world economic activities and the Nigerian economy.
Using international reserves as a yardstick to economic performance without considering other economic indices prior to GEJ administration is laughable.

High external reserve with poor economic indices is as good as nothing.
@ Paragraph 1. Do you mind highlighting the developmental strides PDP/Jonathan has recorded in the last 5years??

@ 2. This is laughable. When Jonathan was going about all over the country promising an eldorado in 2011, was he oblivious of the "economic" indices within and without the country?? Didn't he realise that they weigh heavily on one's ability to make deliveries on promises?? Was he ignorant of the facts as they were or he was just lying or he was just dumb??

@3. Ok, if we were to excuse him on the external reserve, and take him on on the prevailing economic indices (since an administration cannot solely be assessed on that), tell us, what is the average life expectancy of a Nigerian today? What is out per capita GDP/ PPP? What is the level of income disparity? What is the figure of our balance of trade? What is the standard of living of an average Nigerian (reminds me of a documentary where it was revealed that the standard of living of a German sustained by Welfare is more than that of an average American!! shocked). What is our infants mortality rate? What is the inflation rate? How about unemployment rate Are these figures fancier than they were before Jo took over

3 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by ayukdaboss(m): 9:29am On Nov 07, 2014
barcanista:
The Weapons are in my family house in Okrika grin grin
You can imagine someone boldly pointing out purchase of weaponry as a sector Jonathan has allocated funds to with the current situation of the military in Nigeria. These TANoids are the real enemies of Nigeria and we must knock sense into their empty heads.

5 Likes 1 Share

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by frankyychiji(f): 9:29am On Nov 07, 2014
Caveat: This is to warn all janja.weeds (supporters of Apc; new meaning of the word), that the man whose name appears at the beginning of this post is armed and very dangerous and must be avoided by all evildoers. He has extinguished many already. He takes no prisoners! Be warned. grin grin
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by EldaTimba(m): 9:29am On Nov 07, 2014
Obiagelli:

Inflation @ an average of 10% yearly, did you factor that too?
Factoring that still doesn't lead to a 500% increase in budget. What I mean is this: if the inflation is an average of 10%, then the budget should have increased by 314% not 500%. Did you understand?
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by omenka(m): 9:31am On Nov 07, 2014
barcanista:
Oga, I am actually putting it to him on Jonathan's issue. He is being cunny and the issues I have been asking is being avoided, but he has been rumbling since page 1
I wonder why he hasn't responded to my post.
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by EldaTimba(m): 9:33am On Nov 07, 2014
barcanista:
Like I said, the subsidy is in another thread. When you lump them all into one, people may not get all the message. We gotta break them by piece
I will be waiting for you on subsidy thread. wink you can't fool us all the time, we know the truth.

1 Like

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:35am On Nov 07, 2014
ayukdaboss:

You can imagine someone boldly pointing out purchase of weaponry as a sector Jonathan has allocated funds to with the current situation of the military in Nigeria. These TANoids are the real enemies of Nigeria and we must knock sense into their empty heads.
You noticed how they shot themselves like it was only Jonathan that experienced crises

1 Like

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:36am On Nov 07, 2014
omenka:
I wonder why he hasn't responded to my post.
He keep running and running. He definitely have no clue on this but trying to see if he can be cunny. This is the same debate that the FG ran away when challenged by Madam Oby Ezekwesilli
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by omenka(m): 9:37am On Nov 07, 2014
barcanista:
Like I said, the subsidy is in another thread. When you lump them all into one, people may not get all the message. We gotta break them by piece
Good strategy. There are a billion and one things to be said about this indescribably inept and corrupt government. We'd take them bit by bit so those partially handicapped upstairs can keep pace.
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by ayukdaboss(m): 9:37am On Nov 07, 2014
Firefire:





Funny people... grin





No amount of propaganda by APC and her team of fighters both on the field, online and offline can intimidate Nigeria sovereignty under the leadership of the Lucky one.
The lucky one who once had "no shoes and boxers". Things have changed bro...The "I once had no shoes" crooner can now afford a house full of shoes and a billion naira food budget while some Nigerians don't have what to eat. Bro personally I'm from the South and some of us voted for this man but trust me, you have to put a gun on my head before I'll vote for Jona.daft next year. You don't give a theif who knows he ain't coming back another chance to steal for four good years.

4 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:38am On Nov 07, 2014
barcanista:
Stop being Clever by half. Nigeria Loan was $30 billion, 18 billion was cleared by Paris Club, while Obj reduced the rest to $3billion. He still had a Balance of $45 billion in Reserve.

Why are you running away from this?

HAHAHAH barcanista!!! you should take the number 10 jersey off Messi, you fit dribble blindfolded.

Here is what you wrote in the OP

EXTERNAL DEBT:
Inherited: $30 billion
Cleared : $18 billion
Paid: $ 12 billion Dollars
Left: $3,348.22bn-2007


You sir said that OBJ paid $12 billion, Cleared 18 billion... 12 + 18 = $30 billion... So how did you arrived to reducing the debt to $3 billion

It is either that OBJ didn't clear our debt or he did... please which one?

To your question, I have answered it many times. Your questions where, why did our debt increase and why did the external reserve decrease under GEJ... are these not your question? if they are, here is my answer once again

1) External debt increased because we have more expenditure and revenue haven't kept the pace (still trying to find Nigeria's revenue history) plus the issue of theft of crude and output disruptions http://www.bloomberg.com/news/2013-10-31/nigeria-finance-ministry-says-revenue-gap-may-reach-12-billion.html

2) deleted because it is not part of your question

3) External reserve was deplated because SLS prefer defending the Naira with external reserve than devaluing the naira.

It will be a sad day for us all, if you deny your own post, Please man up and answer my own questions

1) Did OBJ clear our $30 billion debt as per your OP?

2) If he did, how can he still left $3 billion when leaving office?

I will test you again, however, like maradona you are, I can bet you will never answer the question straightforward

15 Likes

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