Dullard has finished this zoo, I don't blame dullard anyway, i blame people that arranged the votes for him. Dulard means garbage in, garbage out. An illiterate cannot turn to a genius over night....#bring back our corruption.[b][/b]

Landloard01:
[size=13pt]This is a similar case of GEj, fed a kid with poison, killed him then handed over the same dead kid to PMB (as a prophet), expecting a miracle to bring the kid back to life.


And for Buhari, a similar case of a famous prophet, boasted of resurrecting the dead, accepted the dead kid, and discovered the kid has died for some days, trying to explain to the congregation that his miracle does not cover such a scenario but still want him to perform a miracle. Epic[/size]



Mind You, I don't do politics oooo. Na the thread talk say make everybody talk him own ooo.

best analogy to explain the whole situation ...

That's why oyegun said they didn't know Nigeria was dead before making their gagatuan promises

And that said one year led to the vast reduction in our foreign reserve that both OBJ and Yaradua built to 45 billion dollars from 2 billion dollars (by OBJ) as well as from 45 billion dollars to 47 billion dollars (Yaradua). Our economy was being run from Nigeria's foreign reserve, simple.

While our reserve was being depleted, income earned from exports was also being spent. Now imagine the total that was used to "stabilise" many things. The price is what we are paying today.

gurunlocker:
Oil price fell to $40 in June 2014 while GEJ was in power, he was still able to manage the economy for 1 year before pmb came to power.... During that one year, dollar was $220 to a Naira and people are not complaining like this.....

PMB resumed May 2015, used 6 months to find his saint ministers, within 1 year and few months, the Dollar is exchanged at double what GEJ left..... and people are suffering except we want to lie.....

The difference, PMB was voted to implement his change, his economy policy and not to blame past administration.... So what we are going through now is PMB fault.

SOLUTION: that is what we need now.

Una no dey tire? Your daura cow lord dat is an airbrain,wai brigade is dis a military era or what money would he pay them? Does buhari think at all?

Both are to be blamed

Blame buhari Blame bokoharam And lastly blame NDA.

if we are to be objective in the blame game, we should start from 1960,but since we want to narrow it down to the immediate past and present Government, I will blame buhari for his cluelessness and trial and error policies

We all can rant all we want online by blaming Buhari and Jonathan , but the truth is that until we rise above tribal, ethnic, regional , religious and self serving interest being cleverly used by our animal in human skin kind of leaders and leadership we parade today in polarizing us as a people for their own selfish interest and demand for equity , justice , equality and accountability we will continuously remain in this nightmare for ages to come. And the ensuing chaos would be a child's play compared to the news of woes we all are well versed with today.

It's Buhari of course. Anyone still looking towords Jonathan is giving excuses for buharis failure. So it's GEJ that made food suff price beyond the reach of nigerians?

Please we are not fools.

It must be Jonathan because he is still in power. If not how come he is still called out as the President when important issues regarding this country is discussed one and a half years later. And with the way the topic is addressed it appears we are better off having the OPEC president in Aso Rock since our hopes lie in oil prices and their ascendancy.

Oga. No matter how you try to wiggle out of this one it is clear who is in charge and who should show he is in charge. If he gets it right no one will need to invite you to blow their trumpet, so just hold on with your defence when no one is attacking. The APC does not even have an opposition party to contend with. When the PDP organises itself then you can both battle it out. I repeat again, a government does not have to explain or defend itself against the people it governs. They are partners, they can see everything. The battle is political not national, between parties and not the people. And it is not time for elections so why the constant politicking with the economy. The APC and its government should just get on with it.

Omooba77:
http://punchng.com/jonathan-buhari-blame-poor-economy/
Rather than apportioning blame, I would consider the factors that are responsible for the economic challenges. There are two major factors to consider – external and internal problems.

The external factors are outside the control of the country but they have serious impacts on our economy. The collapse of the global oil market has a direct implication for the Nigerian economy. About three years ago, a barrel of crude was over $100. Now the same barrel is about $40. Oil is the main source of the revenue of the country.

Also related to this is the crisis in the Niger Delta, which has drastically reduced the volume we were producing a few years ago. We used to export over two million barrels per day. Now, we export 600,000 barrels below that quantity.

Secondly, the United States has become a major producer of crude. That used to be our market. The Nigerian Natural Liquefied Gas is not doing well as it used to because there are many other countries that operate in the market. Apart from that, the global economy has slowed down. If the global economy was doing well, there would be more demand for oil and gas. Demand for both oil and gas has fallen while supply has increased, causing a crisis in the market.
Because of several reasons, the inflow of foreign capital has gone down. That is another extraneous factor that is responsible for the current problems.

But more fundamental are the internal factors. And some of these factors originated from the immediate past administration. That is where I would blame the past administration for part of the problem. One, we did not prepare fully for the kind of economic crisis that we are confronted with now. Both our external reserve and excess crude account reduced drastically during the Goodluck Jonathan administration.

Many of the states are insolvent today because they went borrowing without much check by the Federal Government. Corruption was high while the Petroleum Industry Bill that should have been passed to lay a strong foundation for investment in the sector was stalled. There were challenges.

But the current administration cannot continue to hide under those challenges. We are over a year into the administration of President Muhammadu Buhari. Yet, people are still asking – what is the economic direction of the country? Where is the document that one could look at to see our objectives, strategies and the coordination of the economic programmes that would take us to our destination? I cannot see any concerted effort or blueprint that would take us out of the problems.

Every government meets challenges. The responsibility of the government is not to emphasise those challenges but to bail out the country. President Barack Obama met challenges; the US’ unemployment rate was about 11 per cent when he came into the office. But that has dropped to about five per cent. There were policies and programmes to address the challenges. In the case of the Buhari administration, I have not seen any sense of urgency to get out of the challenges. We expected to see an economic document like the one developed by ex-President Olusegun Obasanjo when he came into power in 1999.

The economic policies (of the government) do not have linkages. Look at the exchange policy. You don’t even know what policy it is. Is it deregulated, controlled or regulated floating exchange rate? We have all kinds of markets; the existence of unofficial and official rates is an indication of the inefficiency of the monetary authority. At the black market, it is about N390/dollar; at the official market, it is about N300/dollar. I understand there is also a window where you can get N199/dollar. That creates uncertainty among investors.

Prof. Adeola Adenikinju (Director, Centre for Petroleum Energy Economics and Law, University of Ibadan)
I do not think this is the appropriate time to blame anybody. We may do that later. Political governance is a continuous thing. President Muhammadu Buhari started where his predecessor, Goodluck Jonathan, stopped.

Jonathan might not have done his best, hence, Buhari was elected to right what went wrong in the six years of Jonathan’s administration.

So far, I think Buhari is doing well. The fight against corruption is a good way to reposition the economy. Also, we need to guarantee the safety of lives and property in order to have a robust economy. I would give good marks to Buhari in the area of security.

Yet, there are certain things I think the President needs to do to fast-track economic recovery. He needs to encourage local production. The economy also needs to be diversified and our infrastructures need to be fixed. So far, we have not seen much effort in this regards.

Abudullahi Etsemeuno (Acting Registrar/National Coordinator, Institute of Chartered Economists of Nigeria)
The economic challenges were caused by the Goodluck Jonathan administration. This is because there were supposed to be sufficient savings for the rainy day. But the administration squandered the savings left by the administration of Chief Olusegun Obasanjo.

The administration, at a point, was borrowing money to survive. That should not have happened.

The current administration inherited problems; it did not know the magnitude of the problems until it assumed power. It did not realise that the country was already borrowing before it came in. when ex-President Olusegun Obasanjo was leaving office, we had about $50bn in the reserve.

When Jonathan assumed office, it was still above $40bn. The administration should have built on the reserve because the prices of oil were still high. But the public officials were busy stealing money when they should have been building on the reserve.

The government did not develop the infrastructure. Yet, it blew away the reserve and started borrowing as soon the prices of oil fell.

Sheriffdeen Tella (Professor of Economics and former Vice-Chancellor, Crescent University, Ogun State)
The current administration is grappling with perennial economic challenges. However, the administration lacks the focus and the appropriate expertise to handle the challenges. The fact is that there is no country that does not have challenges. Every country finds a way to manage its challenges. That is what this administration has not been able to do. There has to be a sound economic team at a critical time like this.

The administration seems to have good economic programmes but it appears to lack competent individuals required to implement them.

You cannot say that you are fighting corruption and you put the economy on suspension mode. The Buhari administration is using military tactics to lead a democratic country. That is the challenge.

For me, the administration has the responsibility to put the economy on the path of growth, which it is not doing. It has continued to complain of lack of funds. What has it done with the loots it recovered from corrupt politicians? That money should have been channeled to the productive sectors of the economy.

Ken Oteje (Economic analyst)
The administration of Goodluck Jonathan did not do what was required to avert the problems we face today. The money the past administration earned from crude some years back was not properly used. The reserve was wasted; that was the money the government should have used to fix the infrastructure and diversify the economy.

But we cannot exclude the current administration entirely. We are like a country that is on a battlefield. You cannot send naval officers to the desert to fight neither would you send those who should be operating fighter jets to the sea to fight and expect a good result. The administration needs to put the right people in strategic positions if we must overcome the economic challenges facing us.

As an economist, I consider economic stabilisation the most crucial in every decision I analyse. We must be able to stabilise the economy. The government needs to sustain the growth we have recorded after which it could think about growing the economy. If the President had put in place his cabinet and put the right people in sensitive positions much earlier, we would have probably averted some of the current challenges.

• Friday Udo (Port Harcourt-based economist/accountant)

Where are these people, rotimi amechi? Oshiomole who refused when ngozi insisted on the saving of excess crude money.she even created sovereign wealth fund to cushion recession shock but the shylock governors forced gej and noi to share all the money.i blame gej for not having that will power which I know buhari has.our leaders deserve to be stoned till they can rise no more.sad situation.

metalDETECTED:
Start from Lugard

Lugard had nothing to do with it. He thought he was dealing with normal human beings. The list of people to blame are;

1. Gowon

2. Obasanjo

3. Babaginda

4. Abacha

5. Obasanjo again

6. Yaradua

7. Gej

8. Buhari again

And not to mention every living and deceased Nigerian born since independence. The fault lies with them the greatest because they don't understand their responsibilities and what is expected of them.

Take it or leave it. Jonathan's presidency was the worst thing to have happened to this country in recent times. We were on a path to steady upward growth from OBJ and Yar'Adua even with very little crude oil price per barrel in the international market until the disaster accidentally became President and depleted our foreign reserves his predecessors helped to build despite record oil prices in the history of the country. I just hope the bigoted nomad whiling away time there now doesn't break his unenviable record. You know a country is in trouble when you have a Jonathan and a Buhari as the main candidates for the Presidency in an election.

Shortyy:

My friend answer my question and stop being phoolish! what has your fvcking messiah done for more than a year?? Every girl menstruates! and i'm fvcking pround of that! so answer my question or quit blaming GEJ for your fvcking Misfortunes!! MAD DOG!!

Its MadCow not Mad Dog.. You see why you need to give the drugs some time to kick in..

You are irrational right now. Maybe when you stop leaking blood from your your vagina, and proper blood flow returns to your brain, you would return to normal, but for now, ignoring you is the best thing I can do for you. I have never seen any chick with PMS as bad as yours right now.

So consider yourself ignored until you return to your senses. Its for your own good.


MadCow1.. _{No Beef, Just Akwara..}

Sheggy13:
Take it or leave it. Jonathan's presidency was the worst thing to have happened to this country in recent times. We were on a path to steady upward growth from OBJ and Yar'Adua even with very little crude oil price per barrel in the international market until the disaster accidentally became President and depleted our foreign reserves his predecessors helped to build despite record oil prices in the history of the country. I just hope the bigoted nomad whiling away time there now doesn't break his unenviable record. You know a country is in trouble when you have a Jonathan and a Buhari as the main candidates for the Presidency in an election.

Well said. Would you believe these knuckle heads are busy trying to choose sides between PDP/APC, or GEJ/PMB. They don't realise that they are all one and the same. Utterly useless.

gurunlocker:
Oil price fell to $40 in June 2014 while GEJ was in power, he was still able to manage the economy for 1 year before pmb came to power.... During that one year, dollar was $220 to a Naira and people are not complaining like this.....

PMB resumed May 2015, used 6 months to find his saint ministers, within 1 year and few months, the Dollar is exchanged at double what GEJ left..... and people are suffering except we want to lie.....

The difference, PMB was voted to implement his change, his economy policy and not to blame past administration.... So what we are going through now is PMB fault.

Quote me 1 million times, I won't respond.

largely due to the savings earlier by OBJ

If you find yourself inside a ditch, the most rational course of action would be to claw yourself out. But if you take a shovel and dig yourself deeper into the ditch, then you will be there for a long time. End result, you are in a deeper mess.

1. Ill timed and ill advised Domiciliary Account Policy.
2. Deadly sudden withdrawal of Public Sector funds from the real sector and converting same into Dead Capital in CBN. Financial death everywhere.
3. Playing the Harp while Rome burns. 6 whole months before starting the act of governance! Appointing Deadwood materials as ministers.
4. De-marketing Nigeria to the world whenever the C-in-C travels outside the country.
5. Appointing Social Media Aides instead of Economic Advisers
6. Laughable Personnel Composition of Economic Team
7. Incoherent and Directionless Economic Policy
8. Mismanagement of Dialogue with the Niger Delta
9. Unnecessary CBN intervention in the FX Market supporting unrealistic exchange rates.
10. Eight months into 2016 and the budget has not been implemented!

These are the facts without bias to anyone or anything. I have put them here in the spirit of dialogue and I am willing to bow to superior argument.

It is lame to be asking this question on front page when you have this thread already https://www.nairaland.com/3288305/under-jonathan-nigeria-earned-n51trillion/3#48495274

13regular:
All of us pretending here!

We all contributed to it!!!

May whatever you believe in bless you richly

dayohope1:
And that said one year led to the vast reduction in our foreign reserve that both OBJ and Yaradua built to 45 billion dollars from 2 billion dollars (by OBJ) as well as from 45 billion dollars to 47 billion dollars (Yaradua). Our economy was being run from Nigeria's foreign reserve, simple.

While our reserve was being depleted, income earned from exports was also being spent. Now imagine the total that was used to "stabilise" many things. The price is what we are paying today.

So by 2018 in 18 months time what will be the campaign issues be, Jonathan still? If you fellows were wise and interested in remaining in government post 2019 (which I hope so that the APC can survive post Buhari under a new identity) you will start distancing yourselves from excuses. Surely there has to be a political cutover time in every administration when responsibility firmly sits on the shoulders of the sitting government if not you folks will go to campaign without a manifesto, that is, absolutely nothing to say. I sincerely warn of this. The APC government should start carving out its own identity fast. Because now it is like an 18 year old boy still in its parents house eating of past glory and complaining of restrictions to his destiny, by next year he will be 22 and by 2018 he will be 30 years old and people will begin to wonder....

Buhari laughing at zombies like...

Wetin u use 6years scatter fit take you 50years to arrange ooo. To scatter easy but to arrange back hard, If I lie ask jonathan

Jobia:
What i do know is that under the supposed 'clueless one' our economy became the strongest in Africa and has now been on the decline since 'our saviour buhari' took over.

maclatunji:
It is lame to be asking this question on front page when you have this thread already https://www.nairaland.com/3288305/under-jonathan-nigeria-earned-n51trillion/3#48495274

That's a very sentimental report.

The contents are not valid to be discussed.

midastouch:
If you find yourself inside a ditch, the most rational course of action would be to claw yourself out. But if you take a shovel and dig yourself deeper into the ditch, then you will be there for a long time. End result, you are in a deeper mess.

1. Ill timed and ill advised Domiciliary Account Policy.

Something had to be done about the Dollar shortage and high demand. The nation had no FX to back the demand, it was only right that some form of Money Policy be put in place to discourage the demand for USD and force people to look inwards to source for certain items.

midastouch:
2. Deadly sudden withdrawal of Public Sector funds from the real sector and converting same into Dead Capital in CBN. Financial death everywhere.

With the corruption in the system where you had some Government Offices and Ministries running and operating multiple accounts some of which were housing diverted funds, this policy couldnt have come any quicker to check that loss. There was one Ministry I learn had over 25 separate accounts in multiple commercial banks..

midastouch:
3. Playing the Harp while Rome burns. 6 whole months before starting the act of governance!

Transitioning was not that easy.. This was teh first time in Nigeria's democratic history that we were casually transitioning across Party lines.. If it was the PDP that won (maybe not Jonathan), the transition process would have been much easier than what the APC had to deal with. First the government had to stop loss, then take stock of what was left and then plan a way forward.. This was never going to be easy and should another Party even the PDP take power again, they would need time to fill up the gaps.

midastouch:
4. De-marketing Nigeria to the world whenever the C-in-C travels outside the country.

You can't 'de-market' a product that was unmarketable..

midastouch:
5. Appointing Social Media Aides instead of Economic Advisers.

I agree a lot of the appointments into the various ministries were questionable, infact, that is why I keep saying I cant wait for the president to reshuffle his cabinet which may happen by October.

midastouch:
6. Laughable Personnel Composition of Economic Team.

You make it sound like those who were there previously were any better.

midastouch:
7. Incoherent and Directionless Economic Policy

.

Pfft.. This Government sadly is yet to come out with a clear Economic direction for the Nation.. I can't even defend them on this.

midastouch:
8. Communication mismanagement of Dialogue with the Niger Delta.

Communication mismanagement?

Please explain further maybe then I can understand how to better present my rebuttal.. Cos on this one, I have a lot to say.

midastouch:
9. Unnecessary CBN intervention in the FX Market supporting unrealistic exchange rates.

These are the facts without bias to anyone or anything. I have put them here in the spirit of dialogue and I am willing to bow to superior argument.

If the CBN did not intervene, by now we would be talking about printing the 2000, 5000 and 10000 Naira bills.. Now that the CBN floated the naira, look at the impact.

13regular:
All of us pretending here!

We all contributed to it!!!

yes ooooooooooo

Blame the plunging oil price and Nigeria's inability to save and invest when we had excess money. As the oil prices go low...so does our revenue go low and if we keep our expenditure as it use to be, we would spend more than we income. Hence we go broke

Obasanjo met $6b is our foreign reserve but no complain.. Shuu