Olaolufred:


Okonjo and Sanusi advised saving.

Jonathan and Governors agreed.

Later, the same savings started reducing (about $7billions) without state and Lgs being in the picture.

That called for suspicion that goodluck is not sincere.

So, instead of the FG enjoying the savings meant for all, they demanded ALL ( fg, state, LGs) must have their own share.
Since Goodluck can not manage its own appetite, he is forced to share across board to satisfy everybody.

IF HE DOES NOT TOUCH THE RESERVES, STATE WOULD HAVE NO LEGAL GROUND AGAINST HIM.

A leader is one by being able to stand wise and prudent in such situation.

Obi said the truth in part, but won't say the whole for politics.

moscobabs:
God bless u Peter Obi. only true Igbo man

mykeljosef:



times have changed


and i keep saying it that "no nonsense" mantra you guys hold buhari by when he leaves you'll cry



Nigerians really don't know what is going on


you really need have an insider to know the large scale corruption thats on going


take last year budget into consideration..


i really don't have time to explain to you

obailala:
The last time there was a sharp drop in oil prices was in 2008. The drop lasted barely over 6 months and it cost Nigeria $20billion of its reserves to ensure that the economy wasnt affected. The current drop in oil prices has lasted close to 3 years, I wonder how much of savings would have really saved us. On the contrary, I think aggressive investments in key infrastructure, specifically power infrastructure and refineries is what would have made a lot of difference.

obailala:
The last time there was a sharp drop in oil prices was in 2008. The drop lasted barely over 6 months and it cost Nigeria $20billion of its reserves to ensure that the economy wasnt affected. The current drop in oil prices has lasted close to 3 years, I wonder how much of savings would have really saved us. On the contrary, I think aggressive investments in key infrastructure, specifically power infrastructure and refineries is what would have made a lot of difference.

4Play:


I think the savings issue has become a political football divorced from reality. It's also crucial to distinguish between 2 types of savings: fiscal savings by states/FG and forex reserves by the CBN.

Regarding fiscal savings, no amount of such saving would have saved us from a prolonged oil slump. You are talking of tens of billions - perhaps at least $100bn - for a sustained period. That would have been impossible without removing fuel subsidy and reversing the big increases in public sector wages (remember minimum wage increased from N5k to N18k). There was no appetite for that.

mykeljosef:



times have changed


and i keep saying it that "no nonsense" mantra you guys hold buhari by when he leaves you'll cry



Nigerians really don't know what is going on


you really need have an insider to know the large scale corruption thats on going


take last year budget into consideration..


i really don't have time to explain to you

wirinet:

I agree with you that no amount of savings could have saved us from current economic doldrums, but I disagree with you that fuel subsidy and wage increase were the problems. Fuel subsidy or not, as long as we spend billions of dollars to import fuel, the dollar will always run away from the naira, that is not even considering that we import food and other consumer items.

omohayek:

Actually, 4Play is still correct. You need to account for the fact that without the subsidy, total demand for fuel would have been lower, which would have translated into reduced import demand.

As for the Naira's continuous depreciation over the years, that owes a lot more to a lack of budgetary discipline at the government level than to import demands per se. Much more stringent budgetary discipline could have kept the money supply in check and kept the Naira stronger, but at the likely cost of a severe contraction in the economy.

adonbilivit:
wannan iyamiri ya iya magana. amma Dan me ya shiga PDP? ya shigo APC Dan Allah

Igbo mai kiriki...wannan namune.

YaksonFCA:
The man made alot of senses....How I wish other IPOB people are like him?

Marvel1206:

I was banned
i think it is a clone app
search for mobdro for iphone on google you'll see.
I posted a link that was why

wirinet:

It is more complex than that. Removal of fuel subsidy might not necessarily reduce demand (except corruption demand). What will be the alternative to buying fuel? What ever the price, we need to run our businesses and our homes. Before the last increase, I was spending about N12,000 every week to run my office, now I spend up to N25,000, (this is despite paying NEPA bills of N10,000 monthly without seeing light for days on end.) I am still buying the same quantity of petrol I was buying before the increase.

Now, are you suggesting we park our cars at home and trek to work bease of fuel increase? As long as there are no cheaper, convenient and effective means of public transportation, demand for petrol for our cars will not reduce.

My brother forget budgetary discipline, as long as we do not produce, and have to depend on imported fuel, food, drinks, simple household items like matches, tooth picks, hankerchiefs, etc. The Naira will depreciate perpetually.

DelGardo:



Bla Bla Bla.
You dolts just come here to spew trash. Bring your evidence or shut up.
We now have the whistle blowing act so put it to use; it is your civic duty (assuming you understand the concept, that is).

Your baseless claim that this "corruption" is know only to insiders is even a big step up from the looting cesspit that was Jonathan's government.

APCmyheart:



Why dint they force OBJ to share the money then? GEJ is too soft that's just it...

Jimyn:
Nigerian leaders are too wasteful

Bullhari:



that's my boy. that one of the monster Fulani herdsmen

adonbilivit:
wannan iyamiri ya iya magana. amma Dan me ya shiga PDP? ya shigo APC Dan Allah

Igbo mai kiriki...wannan namune.

APCmyheart:



Bros all na formality make them go sue Buhari now..

adonbilivit:
wannan iyamiri ya iya magana. amma Dan me ya shiga PDP? ya shigo APC Dan Allah

Igbo mai kiriki...wannan namune.

adonbilivit:
wannan iyamiri ya iya magana. amma Dan me ya shiga PDP? ya shigo APC Dan Allah

Igbo mai kiriki...wannan namune.

Godprotectigbo2:




i know say u no understand the news




u just wanna shout ipod

Chiefobdk1:



Why re afonja zombies brain slow . .

Goodluck Jonathan through okonjo iweala and sanusi adviced to save but governors through amaechi and aregbesola aka aregbese refused..

ocelot2006:


You do know that Ameachi & fashola took the GEJ administration to court, right?

Nehemiah459:
So we have a tyrant as president?

APCmyheart:



But he succumb to their demand even before court decide, Like i said Why Governors no try am with OBJ? they try it then but when you are a strong president you will be a good leader..

GEJ too daft and reason they take advantage of him..

make them come try am with PMB now, Soon our reserve will rise beyond our imagination and so will our ECA and let see who will ask him to share the money..

APCmyheart:



You see what we are talking about? GEJ that act democrat lead us to where we are today..

If being tyrant will make us grow and gain back our standard and safe alot for our future am in support of Buhari..

ocelot2006:


No he did not succumb prior to his administration being sued by Amaechi, Fashola, and co. Why do you think NOI established the SWA? Would you have preferred if GEJ flouted the law? Yet we all talk about strengthening our judicial system(s).

Nehemiah459:
Are we now growing?

APCmyheart:



LOL see question oooo, Our reserve have been growing lately abi you no dey read news?

So many infrastructure are ongoing... Bros it take time and we will alll praise PMB..

Even your Hero say 4 yrs is too small for any Govt to fix Nigeria.

Nehemiah459:

Guy talk true oh... Is the growth visible?