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"Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng - Politics (6) - Nairaland

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Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by anonimi: 7:19pm On Apr 14, 2016
TheGoodJoe:
Did I talk of Fuel? The economic growth figures were fake. The actions in the reserves and ECA showed the truth. The worst part was that we sold Crude over a $100. How she mismanaged such a windfall beats me.

The 36 governors who did not mismanage, please tell us what they had to show for it.
Thanks.
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by anonimi: 7:20pm On Apr 14, 2016
tbaba1234:
OBJ saved even with pressure from governors because there was the political will.

There was no political will in GEJ regime. This is coming from a person who served as the finance minister for both parties.

The Ebola Owu was a useless mini dictator while Jonathan was a democrat.
The Federation Account is JOINTLY owned by the

- 774 LGAs
- 36 states and
- the federal government.


anonimi:
[size=14pt]Tinubu Tackles FG, CBN On Excess Crude Oil Sales Account[/size]
Feb 22, 2001









The Lagos State Governor, Senator Bola Ahmed Tinubu, yesterday joined issues with the Federal Ministry of Finance and the Central Bank of Nigeria (CB N) over the recent face-off between the different tiers of government on the excess crude oil sales reserve account of US$ 1. 8 billion which is about N198 billion.

Expressing concern at the impression being created that the economy is rudderless, Tinubu argued that the central issue transcends the release or non-release of the fund into the Federation Account.

In his words: “The fundamental issues and principles at stake go much deeper. They are more broadly about the rule of law and the supremacy of the constitution on one hand, and the need for cooperation and coordination in a true federal structure, as a basis for sustaining and strengthening our fledgling democracy on the other hand”.

Governor Tinubu [size=14pt]disagreed with the CBN's position that release of the excess crude reserves to the states and local governments, though legitimate, [/size]would lead to inflation; cause a rundown of the nation's foreign reserves; weaken the exchange rate further and run counter to agreements reached with the IMF.

The Governor contended that "in a period of excess capacity and low purchasing power, there should not be undue inflationary pressures from an injection of funds into the economy. Instead, such a development should be beneficial to economic activity and growth, despite the fact that there are supply rigidities and inefficiencies which would limit the potential benefits”.

On the purported likely impact on foreign reserves, Tinubu argued that "in an import-dependent economy such as ours, it is inevitable that an upturn in the level of economic activity would engender a fall in foreign reserves. This is not necessarily a bad thing. Rather, it would be immoral to appear to be building up high foreign reserves in the midst of grinding poverty”.

He stressed further that if the N198 billion released is matched by an equivalent US$1.8 billion, there should not be a fall in the value of the Naira as the supply of dollars would be in place to match any increased demand”.

Tinubu also said it would be unfair for the federal government to agree unilaterally to commit revenues due to other tiers of government, to an agreement with the IMF or anyone else.

Attributing inflationary pressures in the economy largely to the federal government's overspending and printing of money to finance such expenditure, Tinubu said "It is hardly fair for the FGN to overspend and then seek to correct the inflationary effect on the economy by starving other tiers of government of their rightful funds”.

Stressing that there is no basis for CBN or any authority to flout the constitution and deny states and local governments their own share of the Federation Account, Tinubu noted that "the excess crude reserve account is itself an illegality, carried over from the military era, as there is no provision in the law or the constitution for federally - collected revenues to be diverted to such an account”.

Advocating constructive dialogue on the management of the economy Governor Tinubu said "it is time for us to sit down and dialogue about how to move from where we are now, to where we need to get to, while respecting true federalism in fiscal and other matters”.

From: http://asiwajubolatinubu.com/archives/news/2001/02/22/20010222N01.html
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by TheGoodJoe(m): 7:23pm On Apr 14, 2016
anonimi:


Since when did 2013 come AFTER 2014?
Maybe in zombie land aka BuhariSTAN grin



The Federal Government withdrew the sum of N606.12bn from the Excess Crude Account within the first three months of this year(2013), the Budget Monitoring and Evaluation report prepared by the Ministry of Finance has revealed.



https://www.naij.com/43372.html

2 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Nusaf: 7:25pm On Apr 14, 2016
anonimi:


The Ebola Owu was a useless mini dictator while Jonathan was a democrat.
The Federation Account is JOINTLY owned by the

- 774 LGAs
- 36 states and
- the federal government.


Is this the defense for the cluelesness responsible for our present woes?

5 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by TheGoodJoe(m): 7:36pm On Apr 14, 2016
9jatatafo:


You mean she withdrew the funds without the number citizen's consent? How come she has so much powers?

With or without his consent, that money was meant for a rainy day like we are facing now. The Governors agreed under OBJ to save it and they continued under GEJ.

When once they noticed that the Federal Government was not saving it, they refused to continue saving.

5 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by AnanseK(m): 7:38pm On Apr 14, 2016
Thunder fire this shameless woman who presided over the economic destruction of Nigeria. Corrupt and wicked heartless witch.

4 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by shaqhead: 7:39pm On Apr 14, 2016
maupe:

You ply the Apapa Oshodi expressway everyday and you still complain about the "failure" of GEJ.
You watched as Nigeria's economy grew by 6% and yet you mocked the President's economic team
You bought fuel consistently, without queing and yet you blamed him for subsidy payments.
President Jonathan, was no lee kuan Yuew, given, but he was pretty close to that.
Dont worry, Paul Nwabuikwu, will help clarify her statement tomorrow.
Son, I admire the fact that you ddnt discountenance any of my stated facts, not even the one to do with your gender identity crisis.

For a start, that's commendable, but it is worrisome that you had to do what you and your co-travellers do when boxed to a corner-throw up so much nonsense in the hope that some sense wl stick out.

Son, nonsense is nonsense! I mean what you wrote is nonsense and has no bearin whatsoever on this discourse!

You have every ryt to compare GEJ with whomever dts ur headache but the vast majority know his signature moniker!

If only this was the first pot shot NOI has taken on d GEJ admin which she served under in which she is no less complicit in the ills of the last govt, we wd hv waved it off, but this is actually her second prodding of ur Lee kwan Yuew clone! Paul shd know d first!

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Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Satex(m): 7:41pm On Apr 14, 2016
You see! If NOI really said so, then those who are always "glorifying" her on this forum should bury their heads in great shame. And those who are intellectually dwarf will not want the past regime to be blamed for Nigeria's current economic woes. What we are facing today is the cummulative effect of lack of vision of the immediate past regime. They really messed up. I really pity PMB. He will suffer. But he will definitely succeed in fixing the damage. God will not abandon PMB and honest Nigerians. Finally, let me warn saboteurs of the present regime: God's judgment is imminent. We can't continue to live in error! Enough is enough!

6 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by tbaba1234: 7:50pm On Apr 14, 2016
anonimi:


The Ebola Owu was a useless mini dictator while Jonathan was a democrat.
The Federation Account is JOINTLY owned by the

- 774 LGAs
- 36 states and
- the federal government.


A "mini dictator' that saved us from a crisis in 2008 by saving is better than a democrat that lacked the political will to save, causing us to go through an economic crisis.

OBJ had the leadership to manage the governors pressure, GEJ didn't.

8 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Nusaf: 8:01pm On Apr 14, 2016
tbaba1234:


A "mini dictator' that saved us from a crisis in 2008 by saving is better than a democrat that lacked the political will to save, causing us to go through an economic crisis.

OBJ had the leadership to manage the governors pressure, GEJ didn't.
As someone pointed out above, GEJ merely reigned, he never presided over this country.
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by anonimi: 8:06pm On Apr 14, 2016
tbaba1234:
A "mini dictator' that saved us from a crisis in 2008 by saving is better than a democrat that lacked the political will to save, causing us to go through an economic crisis.

OBJ had the leadership to manage the governors pressure, GEJ didn't.

It is this type of messiah-is-needed mentality that ensures we Africans will NEVER develop.
Why can't we COLLECTIVELY have the value of saving for the rainy day instead of waiting for a FAKE messiah to flog us into line while he is STEALING us blind?
Do you see the IRONY?

Africa does NOT need strong men. It needs strong INSTITUTIONS.
~ Barack Husein Obama, POTUS


...F A C T.. C H E C K ...

'Obasanjo and Atiku in 8 years built one UNIVERSITY each for themselves....Bells and ABTI.
They built NONE for Nigerians.

Jonathan and Sambo in 4 years built 14 (FOURTEEN) new universities for all Nigerians.
NONE for themselves.

NOTE: OBJ and ATIKU are now consultants/sponsors/piloters/members of APC....





Sourced from: https://www.nairaland.com/2146237/why...ive/4#30711260

1 Like 2 Shares

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by banio: 8:12pm On Apr 14, 2016
boujaye:
f NOI truly said so, then she is right. Amaechi and co, never wanted the Excess Crude Oil reserved to be saved, they will go to court and be over ruled "share the money". Today everybody suffers the repercussion.

Very true. Amaechi and his cohorts won even at the supreme Court. The verdict was " Share the Money"

1 Like

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Codes151(m): 8:31pm On Apr 14, 2016
jojomario:
Even a member of a past government blaming the former boss. It shows how clueless the the former president was to see beyond the present.

Have u served? Go and finish school! I u have, start again! She wasn't blaming GEJ... Re read. Or STFU. U and ur likers
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Nusaf: 9:06pm On Apr 14, 2016
Codes151:


Have u served? Go and finish school! I u have, start again! She wasn't blaming GEJ... Re read. Or STFU. U and ur likers
But she was blaming GEJ administration which is responsible for our present hardship. So , what's d difference?

1 Like

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Atittude: 9:19pm On Apr 14, 2016
Unfortunately people don't understand how things work in the ministries or companies. Okojo Iweala does not have the will power to save on her own without an agreement between the president and the governors.Besides , I remember how Oshiomole and Ameachi were on air insulting her and calling her all manner of names because of their personal interest and greed. She is not to blame my only regret was that GEJ lacked the strong will to silence Ameachi and co , knowing that Nigeria was Paramount.
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by ChikezieU(m): 9:22pm On Apr 14, 2016
gifsCEC:


Fortunately for both of us, NOI who wore the shoes and knew where it pinched doesn't hold your view.

Her verdict is simply LACK OF POLITICAL WILL.

That's the one I chose
and what is politcal will plus the substance sorrounding it
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by amazon14: 9:25pm On Apr 14, 2016
Amechi and you see your life? Let's save for raining day you don't agree .now we are all suffering it
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by TrebleChamp(m): 9:47pm On Apr 14, 2016
dukie25:
[size=13pt]The facts remain:[/size]
Governors Fashola and Amaechi went to court demanding our savings be shared, today they're both ministers.
NOI did allude to the role played by those govs in the unadulterated version of her speech . I read her full speech.
Lagos and Rivers State share of the ECA was 0.7% each (24% divided by 36 state), compared to FG's 56%. What did Jonathan and Okonjo do with their 56% share?

5 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by DrLuv: 9:50pm On Apr 14, 2016
setting all political sentiment or religious sentiment apart, we nigerians still do npy want to admit to the fact that the bulk of our problem in this present day is as a result on gross miscalculation and financial misconducts of the immediate past government.except we want to display our ignorance....the economy was already in recesssion..deeply ...this is just been made manifest now.so I wonder why some still display ignorance whenbthe present goverment has not done some substantial changesvin the last one year..believe me..nigeria has been dead..for a while..they are only making attempts at resurrecting it and not resusitating her.this latter statement is just to reflect the fact that if the cabals, stakeholders and "principalities" in niger allows..this may get better soon but if not. ..we are in for a long struggle...believe me majority of stakeholders only have their own interest at hand..they dont give a damn about what happens to any orther person..so far..they smile into the bank.

2 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by tbaba1234: 9:50pm On Apr 14, 2016
amazon14:
Amechi and you see your life? Let's save for raining day you don't agree .now we are all suffering it

Still roping in Amaechi, inspite of NOI clearly saying the the government lacked the political will... continue!!

2 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by gifsCEC: 10:08pm On Apr 14, 2016
ChikezieU:
and what is politcal will plus the substance sorrounding it

Dr Ngozi Okonjo Iweala, a former MD of the world bank, 2 time finance minister and coordinating minister of the economy said it in relation to her tenure in office.

Don't you think we should trust her conclusions and if you still wish to argue, ask her further?
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Deen77: 10:29pm On Apr 14, 2016
TheGoodJoe:


Where did I talk of Petrol? You are just trying to evade the fact that the economic figures were fake.

If you want to celebrate importing Petrol, please do. I am waiting to celebrate us building refineries.

They don't know anything about economy, how can you be importing what you can refine locally if we have a refinery.

Is like a man who beg for food instead of asking for work, for how long are we going to continue Importing when we can build a refinery and employ our youth and keep our income for more important products and saving.
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Deen77: 10:35pm On Apr 14, 2016
ba7man:
How could we save when GEJ was dashing out yams to all and sundry?

Oil bunkering m illitants were being awarded multi billion Naira contracts left and right.

Mass looting was going on around him but he chose to defend the actions.

A f00l that sees Politicians and political affiliates buying private jets as a sign of a prosperous economy.

Do people think PEJ didn't know what she was saying when she said "The money we are sharing will go around" or some daft statement like that.

The Governor's saw all that and demanded their share of the loot or else, no one would have the guts to approach GEJ for money the way they did.

Madam peace statement "don't vote Buhari if you don't want to give your husband food in d prison"

Is pregnant with meaning.

2 Likes 1 Share

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by MarrisManah(m): 10:43pm On Apr 14, 2016
[quote author=TheGoodJoe post=44700634][color=#000099]So, when Ngozi Okonjo-Iweala talks about Nigerians having zero will to save, who are we to blame? Goodluck Jonathan, Governors?

Ngozi Okonjo-Iweala was the Coordinating Minister of the Economy.

She was in the driving seat to direct the Nigerian Government. During a windfall of Crude Oil Sales at over $100, the person who was to save the money, dipped her hands in the reserves, without the knowledge of those who owned the money.

She went on to deceive people that the FAAC backed it but later the FAAC denied her claims.

She shifted to GEJ that he ordered her to withdraw from the ECA to pay for Subsidies.

That was where we lost the will to save. Our Crude Sales were mismanaged during a time of plenty and we resorted to paying for Subsidy from the ECA.

She was the one to find a way and show to Nigerians that we were to save but she was the one who first dipped her hands into the ECA without appropriation.
I don't think you understand what exactly is the meaning of POLITICAL WILL Ngozi cannot as a minister withdraw or spend without an express approval of his boss...
Also ,she cannot as a minister enforce savings explaining why it was possible during Obj's time but impossible during Gej...
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Unkl(m): 10:45pm On Apr 14, 2016
those that are objective know this already. with all due respect madam noi u all led us to this quagmire.
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Nairadays: 11:03pm On Apr 14, 2016
Distinguished Ladies and Gentleman, I hereby present you the report as your honourable returning officer of the Nairaland Online Ward:

After almost 182 - 192 commented ballots cast, I hereby declare that the Zombies for and on behalf of the present government have successfully led the Wailing Wailers, an anti government group to the cleaners and are still yet to finish it off. Will they bounce back? Stay tuned to find out.

Prominent and vociferous Belligerents

For the Zombies - Pro Government
thegoodjoe
- great aggression and factual
nusaf
- great quotes and clinical finisher

For the 5% Proud Wailers
maupe
- very constructive and non abusive
anonimi
- great resurgence and constant

Excerpts:
Nice run of brickbats

Final Comment:
Nigeria will get better.

God Bless all the contributors.

2 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by WATCHOVER(m): 11:10pm On Apr 14, 2016
Now I know most APC support comment without thinking
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by WATCHOVER(m): 11:10pm On Apr 14, 2016
Now I know most APC supporters comment without thinking
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Bgorgeous: 11:15pm On Apr 14, 2016
Noooooooooo it's Buhari
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by Sheggy13(m): 11:31pm On Apr 14, 2016
anonimi:


The 36 governors who did not mismanage, please tell us what they had to show for it.
Thanks.
Thank God you're a bit wiser than the other blind wailers singling out Amaechi and Fashola only for blame, by using the word "36 governors". NOI simply compared the two bosses she served under -OBJ and GEJ and stated in clear terms that one had the political will while the other didn't despite Crude oil selling at the highest under him and he depleted our foreign reserves that others before him helped to grow. She has clearly indicted GEJ with her statement and vindicated PMB when he said that the immediate past government had plundered our Commonwealth like no man's business, hence the current hardship we face. To say this is the same man some id!ots including you unfortunately celebrate as a hero just because he conceded defeat in an election he clearly lost goes to show some people's stupidity is simply irredeemable.

4 Likes

Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by nortcentrallord(m): 12:35am On Apr 15, 2016
modath:


Una don start bah?

NOI talked about LACK OF WILL , check the meaning & "USAGE" before trying to engage in discuss far above your comprehension....

Amaechi, The all powerful arm twisted the 52% federal share out of Hero IB's control as well?

Like the ECA is even constitutional... undecided

Abegiii, exit stage left with your Amaechi induced Paranoia.......


Who were those who took the federal govt. To court over the sharing of the excess crude oil account? Back then a lot of you guys supported them hollow headed governors but today everybody is looking for a convenient individual to dump the blame. Okonjo doesn't need to call names or go into details. Her message is to be comprehended by the wise. A Lot of people only understands the style of apc speech which is filled with name calling and mud slinging. This woman is much more advanced than all of you guys put together so am not surprised comprehension is an issue for you lot. Peace.
Re: "Nigeria's Problem; Lack Of Will To Save Under GEJ .. Okonjo Iweala ... Cableng by adconline(m): 12:49am On Apr 15, 2016
Out of every N100 shared between FG and state govs, Govs kept N48 while FG kept N52.. Govs blew their money while FG later bailed them out. Why are govs like Rochas, Aregbesola, Oshiomole, Fayose broke??

1 Like

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