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External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations - Politics (11) - Nairaland

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Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:35am On Nov 07, 2014
Obiagelli:

cheesy cheesy
Did you see it? He obviously was defeated here
barcanista:
Let us go with your logic:
Sanusi defended it, Reserves was $37.3 billion as at June.
Emefielle "devalued" it it became $40.02billion
As at Today, the reserve is at $38.2BILLION http://www.cenbank.org/intops/Reserve.asp are you saying that the reserve still went down after Emefiele devalued it? what is the point
demdem omenka obiagelli
Let me add, the COST OF OIL was relatively high and ABOVE The benchmark since GEJ took Over. Meaning More Money
Subsidy was partially removed from the Budget by GEJ- Meaning More Money.
Isn't the Reserve supposed to appreciate? Or did he also further indebted us to "defend" the Naira?
He wants to discredit CBN's report. hahaha

6 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:36am On Nov 07, 2014
Demdem:


Again, this reason is also a foolish one.
Those that "loved " democracy, how have we performed under them.
Ask ur fathers, Shagari was a mess and the people were tired. u aren't more Nigerian than him.
He has every right to contest and if he hates democracy he won't keep going to law court anytime he is being robbed.

You have no idea who my father is, so you can't say what you thinks of Shagari administration. The question would, why didn't Buhari give a timeline for the return to civilian rule after correcting the anomalies of Shagari? What he did was to proscribe people from discussing anything politics. All his actions and decrees was anything but democratic. He is a tyrant and should just rest. Give us Fashola or Kwankwaso and GEJ will be returning home, but Buhari, I pray heaven.. GEJ till whenever Buhari stops contesting election in this country

11 Likes 1 Share

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:37am On Nov 07, 2014
datolee:


You have no idea who my father is, so you can't say what you thinks of Shagari administration. The question would, why didn't Buhari give a timeline for the return to civilian rule after correcting the anomalies of Shagari? What he did was to proscribe people from discussing anything politics. All his actions and decrees was anything but democratic. He is a tyrant and should just rest. Give us Fashola or Kwankwaso and GEJ will be returning home, but Buhari, I pray heaven.. GEJ till whenever Buhari stops contesting election in this country
Guy no run, you claimed the website is FAKE, do you still hold such claim? and respond to this
barcanista:
Let us go with your logic:
Sanusi defended it, Reserves was $37.3 billion as at June.
Emefielle "devalued" it it became $40.02billion
As at Today, the reserve is at $38.2BILLION http://www.cenbank.org/intops/Reserve.asp are you saying that the reserve still went down after Emefiele devalued it? what is the point


Let me add, the COST OF OIL was relatively high and ABOVE The benchmark since GEJ took Over. Meaning More Money
Subsidy was partially removed from the Budget by GEJ- Meaning More Money.
Isn't the Reserve supposed to appreciate? Or did he also further indebted us to "defend" the Naira?

2 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 11:38am On Nov 07, 2014
jmaine:
Datolee, EldaTimba et al., it's evident this thread has been defeated already, all the proponents are doing is engage needlessly in a tail chasing episode.

Can we move on to other things on the menu grin
were waitin . For him to cook up another story
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by atlwireles: 11:40am On Nov 07, 2014
datolee:


Again your line of argument is what i do not understand. What is unusual in the progression of the budget? can we do it by percentage or number? So lets do the difference and see the anomaly

2005 - 2006 = +100 billion

2006 - 2007 = + 400 billion

2007 - 2008 = +1.2 trillion

2008 - 2009 = +200 billion

2009 - 2010 = + 900 billion

2010 - 2011 = (-) 120 billion

2011 - 2012 = +220 billion

2012 - 2013 = +290 billion

Please Barcanista, check these and tell me where the anomaly is

Yaradua increased the budget the most, GEJ was the only governemtn that had decrease in budgeting from the preceding year. Now this is your link, please tell us what you see there that make GEJ this bad

I don't mean to laugh, but please don't dig your own grave... grin

This is enough to close this thread. grin grin grin grin

5 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by jmaine: 11:40am On Nov 07, 2014
karlmax2:
were waitin . For him to cook up another story

In due course of time all cooked up stories will be decimated. Una just dey promote a defeated thread grin

3 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Abok1(m): 11:41am On Nov 07, 2014
datolee:


Sorry but your argument is very out of place. I never talked using external reserve to bail bank or subsidy!

My one and only sustained argument is that the external reserve was used to defend the naira. You asked, but other government defended the naira too, The answer is yes but not as much SLS led CBN. and here is the figure to prove

Within 4 year period, Soludo only defended Naira with $57bn while SLS withing the same 4 years, spent $117bn to defend the naira. if you just can't see the difference, i'm sorry but i can't help you out
shocked shocked shocked

datolee:


Thank you, but please know that the recession of 2007 started with private sector with government pumping money to save the private sector, by 2011, the effect had gotten to the government sector. Please read here about the five stages of the recession from 2007 to 2011

http://www.theguardian.com/business/2011/aug/07/global-financial-crisis-key-stages

I ask the same question, was Naira under stress more than it was under OBJ and Yaradua? the answer is yes

Was the external reserve used to defend the Naira, the answer is yes

I will believe my Government except you can provide us any link what other uses the external reserve was used for.



It is not even up to 3 hours and you are already denying what you wrote? Trying to perform an estrapde since your act of sphallolalia has failed cry

9 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by EldaTimba(m): 11:42am On Nov 07, 2014
jmaine:
Datolee, EldaTimba et al., it's evident this thread has been defeated already, all the proponents are doing is engage needlessly in a tail chasing episode.

Can we move on to other things on the menu grin
[b]Seconded[b]
I wonder why it is difficult to understand simple Fact. SLS spent whooping $100 billion dollars on naira defense while soludo spent about $50 million dollars. QED

1 Like

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:42am On Nov 07, 2014
Abok1:

shocked shocked shocked

It is not even up to 3 hours and you are already denying what you wrote? Trying to perform an estrapde since your act of sphallolalia has failed cry

This is fatal my friend, please help me tell whether that link of CBN was cooked or not. Because the guy is mumbling and humbling http://www.cenbank.org/intops/Reserve.asp

enter the date and click GO

5 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 11:44am On Nov 07, 2014
datolee:


You have no idea who my father is, so you can't say what you thinks of Shagari administration. The question would, why didn't Buhari give a timeline for the return to civilian rule after correcting the anomalies of Shagari? What he did was to proscribe people from discussing anything politics. All his actions and decrees was anything but democratic. He is a tyrant and should just rest. Give us Fashola or Kwankwaso and GEJ will be returning home, but Buhari, I pray heaven.. GEJ till whenever Buhari stops contesting election in this country
and ask him why buhari ran away from oputa panel to come and defend his tyranny. And they call him an upright man. An upright man that ran to court to stop nigerians from asking him question on his well documented atrocities he and his co traveller ibb. He ran to the same court he set aside for his numerous draconian decree

1 Like

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:44am On Nov 07, 2014
barcanista:
Guy no run, you claimed the website is FAKE, do you still hold such claim? and respond to this

When you go on needless argument, Please where did i call your link fake? I just reported what i saw in the link. Thankfully you have guided me on how to move around it.. but please refrain from lies, I didn't say your link is fake

12 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Abok1(m): 11:44am On Nov 07, 2014
barcanista:
This is fatal my friend, please help me tell whether that link of CBN was cooked or not. Because the guy is mumbling and humbling http://www.cenbank.org/intops/Reserve.asp

enter the date and click GO



Works like a charm

4 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Demdem(m): 11:45am On Nov 07, 2014
datolee:

Give us Fashola or Kwankwaso and GEJ will be returning home, but Buhari, I pray heaven.. GEJ till whenever Buhari stops contesting election in this country

So u think both fashola and Kwankwaso can defeat the current curse in aso rock right?
Good to know that u see them as better candidate than the drunkard sha.

6 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Ezemust: 11:46am On Nov 07, 2014
barcanista:
Guy figures don't LIE.
The Reserves APPRECIATED during Yar Adua's era when Oil Price was Increasing

The Reserve APPRECIATED during OBJ's era when Oil Price was soaring from virtually nothing to something Tangible, while he paid $18 billion debts and cleared $12 billion

The Reserve is depleting in Jonathan's era despite increased Oil Price, relative High Production and the debt isn't helping.

Yar Adua only borrowed few Millions of Dollars during all this time. Jonathan has borrowed over 3 billion dollars. Leave Obasanjo out of this, he set the foundation, He Yar Adua was building WHAT ABOUT JONATHAN? Are we progressing or retrogressing>?
ague with facts biko. y r u so desperate?

6 Likes 1 Share

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Iykopee(m): 11:46am On Nov 07, 2014
Demdem:


Fool, if it is illegal, why haven't they all being prosecuted? There is a reason why the constitution is always suspended when they come in.
Again fool, certain fundamental rights are restricted in military regimes all over the world and Nigeria was no exception.
Jonathan is a curse to the Nigerian Nation.


^^^ in ur summation, military regime is neva illegal? @ this juncture i can't continue running 360 with a dumb by nature.

3 Likes 1 Share

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by atlwireles: 11:49am On Nov 07, 2014
datolee:


No i didn't derail, you started changing the goal post by talking about performance.

I agree with you, let stick to FG alone... please answer this question

From the yearly budget, who increased the budget the most using year on year bases? What is the difference in the change of year on year budget of the three administrations?

You see, you cannot defend your argument. I never derail, however, i will always answer your detorted fact with actual fact

Keep this in your notes for future reference.

HOW SANUSI LAMIDO SANUSI SPENT $117 BILLION TO DEFEND NAIRA …BUT STILL LEFT NAIRA WEAKER AND VULNERABLE
http://emerge-ng.com/newsletter-editr/?success=1

4 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:49am On Nov 07, 2014
datolee:


When you go on needless argument, Please where did i call your link fake? I just reported what i saw in the link. Thankfully you have guided me on how to move around it.. but please refrain from lies, I didn't say your link is fake
bro you seem to be cunny, please not with me.

Respond to this...
barcanista:
Let us go with your logic:
Sanusi defended it, Reserves was $37.3 billion as at June.
Emefielle "devalued" it it became $40.02billion
As at Today, the reserve is at $38.2BILLION http://www.cenbank.org/intops/Reserve.asp are you saying that the reserve still went down after Emefiele devalued it? what is the point

Let me add, the COST OF OIL was relatively high and ABOVE The benchmark since GEJ took Over. Meaning More Money
Subsidy was partially removed from the Budget by GEJ- Meaning More Money.
Isn't the Reserve supposed to appreciate? Or did he also further indebted us to "defend" the Naira?

2 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:51am On Nov 07, 2014
Abok1:




Works like a charm

I am still waiting for him to respond to what I asked him
barcanista:
Let us go with your logic:
Sanusi defended it, Reserves was $37.3 billion as at June.
Emefielle "devalued" it it became $40.02billion
As at Today, the reserve is at $38.2BILLION http://www.cenbank.org/intops/Reserve.asp are you saying that the reserve still went down after Emefiele devalued it? what is the point

Let me add, the COST OF OIL was relatively high and ABOVE The benchmark since GEJ took Over. Meaning More Money
Subsidy was partially removed from the Budget by GEJ- Meaning More Money.
Isn't the Reserve supposed to appreciate? Or did he also further indebted us to "defend" the Naira?

2 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 11:51am On Nov 07, 2014
atlwireles:


Keep this in notes for future reference.

HOW SANUSI LAMIDO SANUSI SPENT $117 BILLION TO DEFEND NAIRA …BUT STILL LEFT NAIRA WEAKER AND VULNERABLE
http://emerge-ng.com/newsletter-editr/?success=1
hahahahah their cluless hero
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:52am On Nov 07, 2014
Abok1:

shocked shocked shocked





It is not even up to 3 hours and you are already denying what you wrote? Trying to perform an estrapde since your act of sphallolalia has failed cry


What you quoted, did you see when I wrote that the Government used external reserve to save private companies?

What brought the argument. This is what I wrote Maku added: “This fall in reserves was a result of the vicissitudes of the global financial crisis which caused CBN interventions in the currency market to defend the value of the naira.

You countered that the financial crisis started in 2007 so why didn't the external reserve depreciate during that time
Pray tell, which global financial crises could be as massive compared to the one the world witnessed between 2007 - 2009 (during Yar'Aduas time) and Yar'Adua still managed to increase the foreign reserve to 62 billion in September 2008...

to which I answered that yes the financial crisis started in 2007 but most in private sector, it was only in 2011 that it got to government sector neccessitating the need to use the external reserve

What is the denials?

3 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Demdem(m): 11:54am On Nov 07, 2014
Iykopee:



^^^ in ur summation, military regime is neva illegal? @ this juncture i can't continue running 360 with a dumb by nature.

Fool, legality of military regimes is inconsequential during those years because they were common govt all over the world accepts them unlike what we have these current years. As at then, they were acceptable.
That was the norm especially in Africa.
Does that mean i currently support military regime? Of cos not.
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 11:56am On Nov 07, 2014
datolee:


Oh God, i'm sorry but you are intelligent by half really. What you quoated, did you see when I wrote that the Government used external reserve to save private companies?

What brought the argument. This is what I wrote Maku added: “This fall in reserves was a result of the vicissitudes of the global financial crisis which caused CBN interventions in the currency market to defend the value of the naira.

You countered that the financial crisis started in 2007 so why didn't the external reserve depreciate during that time


to which I answered that yes the financial crisis started in 2007 but most in private sector, it was only in 2011 that it got to government sector neccessitating the need to use the external reserve

What is the denials?
Are you aware that we are in 2014? The Price of oil as at 2009 was as low as $35 per barrel.. Meaning less money
for yar Adua

While that of 2010 was $89 per barrel and 2011 was $107 per barrel in 2011, meaning MORE money for Jonathan.

Yet Yaradua did not r@pe the Reserve and The External Debt like Mr. Jonathan did. Infact, Musa added to the Reserve, Jonathan rather than add, depleted it. Is that progression?
Meanwhile, I am awaiting your response to that poser

1 Like

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:04pm On Nov 07, 2014
Datolee I am waiting...

2 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:04pm On Nov 07, 2014
barcanista:
bro you seem to be cunny, please not with me.

Respond to this...

Your question is very shallow.. So far in this thread, I'm the only one who answer question one by one.. all you do is just messing around and never answered not one question.

You always missed my point, Emefiele also used reserve to defend the naira, the question.. do he think that it is sustainable? No! But he was forced to do so just like Soludo, Only SLS think that it is sustainable to defend the naira

http://businessnews.com.ng/2014/10/02/cbn-restates-commitment-defending-naira/

9 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Amisec: 12:06pm On Nov 07, 2014
I am really ashamed here, calling on three soldiers to defend just one Army ( grin grin grin grin grin grin) that cannot be defeated.


Following the pass two threads, I have made my conclusions.

I now understand that APc defenders have a clear motive, I almost got the fever.

It is clear to me how Militancy is being compared to Boko, high rate of bunkering, sustaining Amnesty and etc, in terms of expenditures.


I think for myself and do not follow the mainstream, with all the bashing and hatred for Get that I have heard and seen this year alone, I am surprised he hasn't spent nor looted half of the treasury.

If I have to vote, my mind is made up on who to vote for.

4 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by blym4real: 12:11pm On Nov 07, 2014
Opiosko:
Lol! It's not about having access to more money, but what u are doing with the money. How much has GeJ used to reform ur amajiri terrorists recruitment camps to rescue northern children and give them a future?.. How much has been spent in reforming our military to help counter Buhari islamic insurgency?.....
You want to compare it with what president yaradua spent on the amnesty program.
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Abok1(m): 12:12pm On Nov 07, 2014
datolee:


Oh God, i'm sorry but you are intelligent by half really. What you quoated, did you see when I wrote that the Government used external reserve to save private companies?

What brought the argument. This is what I wrote Maku added: “This fall in reserves was a result of the vicissitudes of the global financial crisis which caused CBN interventions in the currency market to defend the value of the naira.

You countered that the financial crisis started in 2007 so why didn't the external reserve depreciate during that time


to which I answered that yes the financial crisis started in 2007 but most in private sector, it was only in 2011 that it got to government sector neccessitating the need to use the external reserve

What is the denials?



Firstly, I take an exception to your choice of words, because never in my submission did I insult you as a person. Since we are clear on this, we can continue in our discuss.

You just performed skoptsy by your own admission, and no amount of twists can change what you wrote.

First you quoted Maku on

datolee:
"This fall in reserves was a result of the vicissitudes of the global financial crisis which caused CBN interventions in the currency market to defend the value of the naira."



and you further posited that

datolee:
to which I answered that yes the financial crisis started in 2007 but most in private sector, it was only in 2011 that it got to government sector neccessitating the need to use the external reserve




At the bolded, "necessitating the need to use the external reserve " to? ..... crickets ...... (your guess is as good as mine)....... To save the private sector.

You linked the fall to the global market, which we all know didn't affect Nigeria's earnings from crude oil; Rather, it increased it. so my question is this, which sector was the external reserve used to save if its not the private sector. This is based on your submissions and factual occurrences in Nigeria as a case study.

You can't deviate from what you wrote, because for you to cite someone's explanation in your defence, you certainly agreed with the person's position. Your principal lacks tact and finesse laced with a massive dose of inferiority complex which has an underlining traits of paranoia. This has led you to consistently defend someone whom even Robert Gibbs would become frustrated in defending. Don't you ever get tired of your principal's lumpy policies?

8 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:12pm On Nov 07, 2014
datolee:


Your question is very shallow.. So far in this thread, I'm the only one who answer question one by one.. all you do is just messing around and never answered not one question.

You always missed my point, Emefiele also used reserve to defend the naira, the question.. do he think that it is sustainable? No! But he was forced to do so just like Soludo, Only SLS think that it is sustainable to defend the naira

http://businessnews.com.ng/2014/10/02/cbn-restates-commitment-defending-naira/
Wait let get something straight...
Under Yar adua regime, the Naira was defended, yet we had increase reserve
Under Obasanjo regime same thing, yet we had increase reserve
Under Jonathan same thing yet we get depleted reserve

At a point the Naira was devalued in EVERY regime... But it was necessary at that time. It wasn't perculiar to Jonathan. Yet his case is different.

Meanwhile:
The Oil Price under Objs started at less than $20 per barrel in 1999 and peaked at $90 in 2007

That of Yar adua peaked at $147 perbarrel, as at then the reserve was $64billion, ALL time hgh. It only slipped when the oil price dropped to $35 during the economic meltdown. He also rescued banks. Yar adua still had to bear the burden of the extra subsidy bills

Jonathan's Reserve have been going downward, he has been enjoying a good Oil Price at $88 to 107$ for the past 4years.. Something non of his precessors enjoyed. Jonathan had the privilege of Subsidy removal since 2012. Instead of his Reserve to GO UP, it is depleting.

Only Jonathan BLEEPED our debt without Mercy.

My friend How do you explain this? Remember to use EVERY economic indices. You keep dodging this interesting part of OIL Market Price. You are very funny bro

3 Likes

Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Djicemob: 12:17pm On Nov 07, 2014
Give us Fashola or Kwankwaso and GEJ will be returning home, but Buhari, I pray heaven.. GEJ till whenever Buhari stops contesting election in this country - datolee

Who in their right thinking mind would place Buhari ahead of Fash and kwankwaso to rule nigeria biko? These are proven and tested men.For crying out loud Buhari is old,anti-democratic,manifesto-less,negatively inciteful,a sharia supporter,serial election loser and always appears unintelligent which can be noticed from his various pre/post election statements... to mention a few. Damn!
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:18pm On Nov 07, 2014
Abok1:




Firstly, I take an exception to your choice of words, because never in my submission did I insult you as a person. Since we are clear on this, we can continue in our discuss.

You just performed skoptsy by your own admission, and no amount of twists can change what you wrote.

First you quoted Maku on

and you further posited that



At the bolded, "necessitating the need to use the external reserve " to? ..... crickets ...... (your guess is as good as mine)....... To save the private sector.

You linked the fall to the global market, which we all know didn't affect Nigeria's earnings from crude oil; Rather, it increased it. so my question is this, which sector was the external reserve used to save if its not the private sector. This is based on your submissions and factual occurrences in Nigeria as a case study.

You can't deviate from what you wrote, because for you to cite someone's explanation in your defence, you certainly agreed with the person's position. Your principal lacks tact and finesse laced with a massive dose of inferiority complex which has an underlining traits of paranoia. This has led you to consistently defend someone whom even Robert Gibbs would become frustrated in defending. Don't you ever get tired of your principal's lumpy policies?


Apologies for the choice of word used, i will withdraw that.

However, my argument still stand.. Financial crisis started in 2007 but nobody touched the foreign reserve because it was affecting mainly the private sector however, by 2011 when the crisis got to the goverment sector, and the currency value was being affected, the External reserve was used to defend the naira. At no point did i say that external reserve was used to bail out private companies.

4 Likes

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