vanbonattel:


You guys keep providing it here everyday.

The only thing buhari and his team of Co travellers came to do was allocate and share oil money? He had no single idea how to generate money or even manage a stagnating economy. As soon as oil went down, the government was cooked

vanbonattel:


And yet Goodluck did not waste his time to complain and wail against obasanjo, he rolled up his sleeves and worked his socks off, the economy prospered under him and things were beginning to look good for Nigerians.

Then came buhari the vengeful and sad leader who branded everyone a thief just because we dared to prosper. His only leadership style is to blame everyone except himself.

vanbonattel:


Twist and turn as you like but your blame game is becoming so stale. How can you still be mentioning a man who buhari can never hope to clean his shoes economically?

Jonathan is so high up there with stellar performances that buhari can only hope to learn and copy.

But just go ahead, continue to blame Jonathan while your god buhari is accumulating hardship on your life.

MadamExcellency:


Don't ever bring a socialist state, Venezuela into comparison to Nigeria. We have nothing in common (both system-wise and structures). We are a capitalist country accept if you want to tell us that APC wants to adopt Venezuelan system.

I remember when you guys were attributing the successes of past administration to "fear of Buhari" until they lasted. Instead of reassurance, discouragement was offered, the Buhari's government weakened both local and foreign investors, killed the enthusiasm of Nigerian business community and abruptly destablized cash flows.

Nigeria is sinking to abyss with no end in sight and you're here hoping on inept cabinet that resonates no trust, no opportunity nor effects the market (Stock Exchange).

We are living in a global village and as far as Economy is concerned, Nigeria has no government, no policy and no direction. Everything is just on autopilot.

We need a total change of cabinet and introduction of effective fiscal and monetary policies with trusted, experienced and visionary personalities overseeing recovery if Nigeria is to avert catastrophic economic and social implosion.

Be there and continue ruminating on Goodluck Jonathan while the poor are getting ready for uprising thereby eating the rich and those in government.

Jirate:


The issue now is What is Buhari doing, focus on Buhari now. He has the Highest office in the land now, he is the pilot now, not any one else, the ship called Nigeria is sinking, where is the Captain?

APCHaram:


Rubbish.

The only way they got a court order on the ECA is because it was never part of our constitution.

The ECA has its roots in the first gulf war windfall setup by IBB.

Obasanjo fought tooth and nail (even ignoring court orders) to ensure the ECA remained.

GEJ's only flaw on the ECA is that he obeyed the court order favoring the state governors stand on the illegality of the ECA.


At the end of the day, what did Aregberascal and co do with their share of the ECA?

You have no argument but only hatred and diversionary blame to spread here with your rubbish.

APCHaram:
[size=18pt]Aregberascal the Oliver twist long throat parasite lamenting on the 2014 oil benchmark
[/size]

Said he: “If there is anything my state does not have now, its money. We are managing with 40 per cent reduction in our allocation from the Federal Government. It is not as if I even enjoy saying I depend on the federal allocation, but the truth is that there is no magic that I would have done to suddenly take our state out of dependence on the federal allocation.

“It is important for us to know that there is no justification for that 40 per cent reduction in our allocation. The price of crude oil has remained almost the same at $108 per barrel, and the benchmark, according to them, is $75 per barrel”.
http://www.informationng.com/2014/04/theres-no-justification-for-40-reduction-in-osun-federal-allocation-says-aregbesola.html

This goat and his co travelers in the APC who threatened to block the passage of the 2014 budget if the oil benchmark was not increased.

This same goat was part of the APC parasitic governors who took the Federal Govt to court over the Excess Crude Account.


And you this malctunji has the audacity to blame Jonathan?


Take your nonsense back to that mosque section

donstevoz:

Hypocrisy is when you question 36 state governors and 774 local govts on how they spent just 48 percent of the ECA and not question how FG that got a whooping 52percent spent its own. The governors were willing to save until they found out that 'hero' and NOI were going behind their back to spend their commonwealth. That's criminal! In any case, what stopped 'hero' and NOI from saving their lion's share of 52% if they really had the will to save? The truth is that 'hero had no willingness to save.

vanbonattel:


And yet Goodluck did not waste his time to complain and wail against obasanjo, he rolled up his sleeves and worked his socks off, the economy prospered under him and things were beginning to look good for Nigerians.

Then came buhari the vengeful and sad leader who branded everyone a thief just because we dared to prosper. His only leadership style is to blame everyone except himself.

vanbonattel:


The governors squandered the ECA to sponsor buharri presidency and now they want to blame Goodluck for obeying court order. Gej was a much more rounded democrat than any leader past or present in this country (I also fear the future) he may be better than any Nigerian future leader without restructuring.

vanbonattel:


You guys keep providing it here everyday.

The only thing buhari and his team of Co travellers came to do was allocate and share oil money? He had no single idea how to generate money or even manage a stagnating economy. As soon as oil went down, the government was cooked

maclatunji:


1. Curbing waste

2. Investing in infrastructure

3. Reforming the public sector and improving the regulation of the private sector.

4. Making increased effort at diversifying the economy.. For example, sorting out the dispute on Ajaokuta steel company.

5. Bailing out states that cannot pay salaries.

6. Ensuring that stolen funds are returned by foreign governments.

7. Encouraging local production, for example, Dangote is now in the rice business.

8. Deregulated petrol marketing without collapsing the economy in a recession (very impressive).

All this ongoing despite saboteurs and criminals destroying pipelines and inheriting a wrecked economy from GEJ.

I hope you are engraving these achievements on your skull the way you bolded this post I am responding to.

omenka:
Of course this is not a state secret- even the most impressionable toddler in every household in Nigeria whose mind hasn't been irreparably damaged by the Red Kuje Albino's doctrine knows it.

Jonathan was a cataclysmic error of leadership that shouldn't have been allowed the thinnest chance to happen- but fate had other plans, it did- but the most ignorant, desperate and conceited decision I've even seen anyone make is Jonathan making attempt at retention!!

What the hell did he intend to come back to do- finish the job of killing Nigeria??

Good thing we rose up against the sham he represented and kicked his bald rump to the curb.

DickDastardly:
Btw, GEJ's Ship sailed long ago .... we rather discuss the locust effect the dulllard's senselessness is having on our once vibrant economy

StOla:

The Nigerian state, during the five-year Presidency of Goodluck Ebele Jonathan, earned a total of N51 trillion from petroleum resources. The money is part of the N96.212trillion the country earned in 58years of crude oil sales.
Of this princely sum, which accounts for about 80 per cent of the country’s revenue, only N12.258 trillion (just about 14% of total) has been paid to the oil producing areas as derivation.
The figure is N35.848 trillion less than the N48.106 trillion the oil-bearing regions should have received as derivation if 50 per cent derivation had not been jettisoned few years after crude oil became the chief revenue earner for Nigeria.
The figures are the outcome of research by Sunday Vanguard, relying on documents from the Petroleum Inspectorate, NNPC, CBN Annual Report and Statement of Account, Nigeria Bureau of Statistics and the Nigeria Extractive Industry Transparency Initiative, NEITI.
In the face of biting contemporary economic realities Nigerians are contending with, there is a consensus that the different tiers of government – federal, state and local government councils – have indeed squandered the nation’s earnings. Even the modest attempts at saving for the rainy day with the creation of, first, the Excess Crude Account, ECA -which suffered mismanagement occasioned by under-hand spending by the Federal Government that was supposed to hold the funds in trust – and, thereafter, the controversial and ineffectual Sovereign Wealth Fund, SWF – which became a subject of litigation and high-wire politicking between the Federal Government and the leadership of the Nigeria Governors’ Forum, NGF – suffered from the typically Nigerian insincere approach to economic management.
A breakdown of the earnings shows that between 1958 and 2007 (CBN Annual Report and Statement of Account, 2008), Nigeria earned N29.8 trillion from petroleum resources. And between 2008 and June 2016, the country generated N66.412 trillion.
Between 1958 and 1966, Nigeria earned N140 million from crude oil; 1967 to 1975, the General Yakubu Gowon got about N11.03 billion; while the late General Murtala Mohammed/ Olusegun Obasanjo military regime scooped about N25 billion from 1975-1979.
In like manner, the civilian administration of President Shehu Shagari earned N36 billion oil money; Buhari, in his first coming as military head of state (1984-85), earned about N25 billion; General Ibrahim Badamasi Babangida, 1985 to 1993, N420 billion; the Ernest Shonekan/Abacha regime (1993-1998), N1.6 trillion; and General Abdulsalami Abubakar regime (1998-1999), N350 billion.
With the return to civil rule, Nigeria, under President Obasanjo realised about N27 trillion from crude oil between May 1999 and May 2007. His successor, Umaru Yar’ Adua, reaped about N9 trillion in his almost three-year rule before he passed on.
The luckiest of the leaders is former President Goodluck Jonathan, whose administration in five years, between 2010 and 2015, earned about N51 trillion from petroleum resources. Since he came to power on May 29, 2015, the President Buhari administration has been able to earn just about N6 trillion from crude.
However, the huge earnings, since 1958, arguably, have translated to little or no improvement on the welfare of the citizenry, especially the people of the oil-producing areas, whose environment – land, water and air, has been adversely contaminated and, in many cases, devastated and polluted.
DETAILS OF EARNINGS AND IMPACT OF EXPLORATION NEXT WEEK
Source: http://www.vanguardngr.com/2016/08/jonathan-nigeria-earned-n51trillion-crude-oil/

APCHaram:
[size=18pt]Aregberascal the Oliver twist long throat parasite lamenting on the 2014 oil benchmark
[/size]

Said he: “If there is anything my state does not have now, its money. We are managing with 40 per cent reduction in our allocation from the Federal Government. It is not as if I even enjoy saying I depend on the federal allocation, but the truth is that there is no magic that I would have done to suddenly take our state out of dependence on the federal allocation.

“It is important for us to know that there is no justification for that 40 per cent reduction in our allocation. The price of crude oil has remained almost the same at $108 per barrel, and the benchmark, according to them, is $75 per barrel”.
http://www.informationng.com/2014/04/theres-no-justification-for-40-reduction-in-osun-federal-allocation-says-aregbesola.html

This goat and his co travelers in the APC who threatened to block the passage of the 2014 budget if the oil benchmark was not increased.

This same goat was part of the APC parasitic governors who took the Federal Govt to court over the Excess Crude Account.


And you this malctunji has the audacity to blame Jonathan?


Take your nonsense back to that mosque section

StOla:


Was it also the governors or the court that got Okonjo Iweala to make ilegal withdrawals from the ECA on Jonathan's ilegal approval?

She initially denied the accusation when made by Oshiomhole, but when he persisted with fact, the liar finally "unlied" and told the truth.

MadamExcellency:
Goodluck Jonathan is gone for good and now we have Buhari.

The pain of Buhari's failure is driving this gentleman crazy.

Watch it before it generates to insanity.

Why did Buhari contest 2015 Presidential Election when he had nothing to offer?

StOla:


The Nigerian state, during the five-year Presidency of Goodluck Ebele Jonathan, earned a total of N51 trillion from petroleum resources. The money is part of the N96.212trillion the country earned in 58years of crude oil sales.



Of this princely sum, which accounts for about 80 per cent of the country’s revenue, only N12.258 trillion (just about 14% of total) has been paid to the oil producing areas as derivation.

The figure is N35.848 trillion less than the N48.106 trillion the oil-bearing regions should have received as derivation if 50 per cent derivation had not been jettisoned few years after crude oil became the chief revenue earner for Nigeria.

The figures are the outcome of research by Sunday Vanguard, relying on documents from the Petroleum Inspectorate, NNPC, CBN Annual Report and Statement of Account, Nigeria Bureau of Statistics and the Nigeria Extractive Industry Transparency Initiative, NEITI.

In the face of biting contemporary economic realities Nigerians are contending with, there is a consensus that the different tiers of government – federal, state and local government councils – have indeed squandered the nation’s earnings. Even the modest attempts at saving for the rainy day with the creation of, first, the Excess Crude Account, ECA -which suffered mismanagement occasioned by under-hand spending by the Federal Government that was supposed to hold the funds in trust – and, thereafter, the controversial and ineffectual Sovereign Wealth Fund, SWF – which became a subject of litigation and high-wire politicking between the Federal Government and the leadership of the Nigeria Governors’ Forum, NGF – suffered from the typically Nigerian insincere approach to economic management.

A breakdown of the earnings shows that between 1958 and 2007 (CBN Annual Report and Statement of Account, 2008), Nigeria earned N29.8 trillion from petroleum resources. And between 2008 and June 2016, the country generated N66.412 trillion.



Between 1958 and 1966, Nigeria earned N140 million from crude oil; 1967 to 1975, the General Yakubu Gowon got about N11.03 billion; while the late General Murtala Mohammed/ Olusegun Obasanjo military regime scooped about N25 billion from 1975-1979.

In like manner, the civilian administration of President Shehu Shagari earned N36 billion oil money; Buhari, in his first coming as military head of state (1984-85), earned about N25 billion; General Ibrahim Badamasi Babangida, 1985 to 1993, N420 billion; the Ernest Shonekan/Abacha regime (1993-1998), N1.6 trillion; and General Abdulsalami Abubakar regime (1998-1999), N350 billion.

With the return to civil rule, Nigeria, under President Obasanjo realised about N27 trillion from crude oil between May 1999 and May 2007. His successor, Umaru Yar’ Adua, reaped about N9 trillion in his almost three-year rule before he passed on.

The luckiest of the leaders is former President Goodluck Jonathan, whose administration in five years, between 2010 and 2015, earned about N51 trillion from petroleum resources. Since he came to power on May 29, 2015, the President Buhari administration has been able to earn just about N6 trillion from crude.

However, the huge earnings, since 1958, arguably, have translated to little or no improvement on the welfare of the citizenry, especially the people of the oil-producing areas, whose environment – land, water and air, has been adversely contaminated and, in many cases, devastated and polluted.

DETAILS OF EARNINGS AND IMPACT OF EXPLORATION NEXT WEEK

Source: http://www.vanguardngr.com/2016/08/jonathan-nigeria-earned-n51trillion-crude-oil/

President99:
[s]Yep GEJ is gone that's cool! but his tenure looting with impunity will always be there for posterity to learn from.
U were suggsesting in the otherthread that PMB should have opted for trade by barter since ur Hero n NOI finished Nigeria's FOREX, bravo I may say- why didn't GEJ go for that rather than wasting our reserve plus oil boom earnings he got.
It's on record, no govt has ever earned half of what GEJ had, yet he was busy dishing out our FOREX to Dasuki n Co[/s]

MadamExcellency:


It will be stupidity to blame GEJ for Buhari's failure for the fact that Ambode is doing great governing Lagos State notwithstanding inherenting empty treasury and unimaginable debt profile from Fashola.

River State is managing to get it, notwithstanding that Amaechi left the treasury empty and even boasted before handover the Gov. Wike will suffer because there is no more money to govern the State.

If Lagos State and Rivers State can survive without reserves, Nigeria can manage with the much Jonathan left for Buhari.

Buhari is just clueless and unstable as the ocean

President99:
Mr man, counter what I said shikena.

MadamExcellency:


ABUJA – THE immediate past Minister/Deputy Chairman National Planning Commission (NPC) Dr. Abubakar Olanrewaju Sulaiman, Tuesday faulted claims by President Muhammadu Buhari that his administration met an empty treasury.

Suleiman said the former administration as at May 29 left behind the sum of US$2billion, adding that the sum would have been higher if not the governors insistence on sharing the fund.

He warned that the former President, Dr. Goodluck Jonathan must not be criminalized and painted a plunderer and looter of the nation’s treasury before the generality of Nigerians.

The clarification was in response to the President’s statement during an interactive session with journalists in Abuja, where he was quoted to have said that his government met “virtually an empty treasury.”

President Buhari reportedly said that it was adding a disgrace that Nigeria cannot pay salaries of its workforce.

Expressing his dismay over the President’s statement, Sulaiman in a statement in Abuja described the report as “unscientific and unfair”, stressing that the immediate past administration “left behind close to US$30billion.”

He said, “Government can’t tell us that there is no Excess Crude Account(ECA), Sovereign Wealth Fund(SWF) or are we saying the Federal Inland Revenue Service(FIR) and related agencies had not in the last one month been generating revenue?

“Until they are able to prove they had no receipts from these government agencies in the last one month before Nigerians can now buy into Mr. President’s claims of an empty treasury.”

He recalled that under the Jonathan’s administration,Nigeria was rated the largest economy in Africa and 26th largest in the world, querying how come such a government would leave behind an empty treasury.

He said”Money made by government is meant to be spent, and this the immediate past administration did responsibly. Every government, even in the so-called western world, including the US which today remains one of the largest debtor nations in the world, government operates on deficit.

“Is it not on record that President Obama inherited US$3 triillion debt, a collapsed banking sector and mortgage industry,yet he never raised any alarm. None of these has happened in Nigeria under Jonathan.

“Under Jonathan,Nigeria became the largest Africa economy and 26th in the world amidst deadly security challenges and dwindling international prices of oil. In spite of all these, the FG never owed salary.

“Upon inception of Jonathan’s administration, it is on record that the price of oil at the global stage was over 100 dollars per barrel and at the close of the administration, it dropped to 46 dollars. Yet, there wasn’t collapse of government and federal civil servants were paid as at when due.

“It will be misleading therefore for our respected President Muhammadu Buhari and indeed the ruling APC to claim to have met an empty treasury.”

He further reminded the new government that “aspiration to governance is a call of meeting and confronting challenges headlong. So, we urge the APC-led government to hit the ground running as promised Nigerians by confronting the challenges.

“We are not in doubt of the capability of Mr. President to do it. He should therefore get to business, put in place structures and personnel to redeem the pledges made to the Nigeria.”


http://www.vanguardngr.com/2015/06/ex-minister-faults-buhari-on-empty-treasury-says-jonathan-left-about-us30bn/

MadamExcellency:


ABUJA – THE immediate past Minister/Deputy Chairman National Planning Commission (NPC) Dr. Abubakar Olanrewaju Sulaiman, Tuesday faulted claims by President Muhammadu Buhari that his administration met an empty treasury.

Suleiman said the former administration as at May 29 left behind the sum of US$2billion, adding that the sum would have been higher if not the governors insistence on sharing the fund.

He warned that the former President, Dr. Goodluck Jonathan must not be criminalized and painted a plunderer and looter of the nation’s treasury before the generality of Nigerians.

The clarification was in response to the President’s statement during an interactive session with journalists in Abuja, where he was quoted to have said that his government met “virtually an empty treasury.”

President Buhari reportedly said that it was adding a disgrace that Nigeria cannot pay salaries of its workforce.

Expressing his dismay over the President’s statement, Sulaiman in a statement in Abuja described the report as “unscientific and unfair”, stressing that the immediate past administration “left behind close to US$30billion.”

He said, “Government can’t tell us that there is no Excess Crude Account(ECA), Sovereign Wealth Fund(SWF) or are we saying the Federal Inland Revenue Service(FIR) and related agencies had not in the last one month been generating revenue?

“Until they are able to prove they had no receipts from these government agencies in the last one month before Nigerians can now buy into Mr. President’s claims of an empty treasury.”

He recalled that under the Jonathan’s administration,Nigeria was rated the largest economy in Africa and 26th largest in the world, querying how come such a government would leave behind an empty treasury.

He said”Money made by government is meant to be spent, and this the immediate past administration did responsibly. Every government, even in the so-called western world, including the US which today remains one of the largest debtor nations in the world, government operates on deficit.

“Is it not on record that President Obama inherited US$3 triillion debt, a collapsed banking sector and mortgage industry,yet he never raised any alarm. None of these has happened in Nigeria under Jonathan.

“Under Jonathan,Nigeria became the largest Africa economy and 26th in the world amidst deadly security challenges and dwindling international prices of oil. In spite of all these, the FG never owed salary.

“Upon inception of Jonathan’s administration, it is on record that the price of oil at the global stage was over 100 dollars per barrel and at the close of the administration, it dropped to 46 dollars. Yet, there wasn’t collapse of government and federal civil servants were paid as at when due.

“It will be misleading therefore for our respected President Muhammadu Buhari and indeed the ruling APC to claim to have met an empty treasury.”

He further reminded the new government that “aspiration to governance is a call of meeting and confronting challenges headlong. So, we urge the APC-led government to hit the ground running as promised Nigerians by confronting the challenges.

“We are not in doubt of the capability of Mr. President to do it. He should therefore get to business, put in place structures and personnel to redeem the pledges made to the Nigeria.”


http://www.vanguardngr.com/2015/06/ex-minister-faults-buhari-on-empty-treasury-says-jonathan-left-about-us30bn/