*WE WERE WARNED*

"Over 20 billion dollars unremitted to the Federation account, and if nothing is done by 2015 upward, Nigeria will know what economic crisis is"
*~ Emir Sanusi Lamido Sanusi*

"Whoever wins 2015 will NEVER find it easy to govern. Over 30 trillion is mismanaged, unaccounted for or missing under Jonathan."
*~ Prof Charles Soludo*

"Our reserve is depleted and our savings are squandered. Our nation is in trouble."
*~ Dr Oby Ezekwesili.*

"For seven months, NNPC did not remit any money into federation account. When I called as a sitting governor and major oil producing state, Deziani Alison Madueke refused to pick my calls."
*~ Godswill Akpabio*

"I told them to save ahead of eventualities but Jonathan had no political will to do so and this is the reason why we are in crisis, because we squandered our boom."
*~ Okonjo Iweala*

"Okonjo-Iweala, Sanusi urged us to save but we state Governors refused to save for the unseen future during the tenure of Goodluck Jonathan, despite warning from economic experts."
*~ Peter Obi*

"Jonathan is a blessed ATM machine that doesn't have secret pin number"
*~ Bala Mohammed*

Blame my fada instead.

If I talk now

Toh I know go talk again

But Jonathan ruined our economy

You play politics if you exonerate APC. The ex-governors who challenged Federal Government when Ngozi admonished them to save are in this government. Saraki is there. Amaechi is there. Add Akpabio. Truth is that we were behaving as of we were drunk. Some people were throwing government money at every passers-by while we applauded them.

Very yeye analysis. Na wah o, na soh Buhari take waka?

!

Op, GEJ IS to be blamed 4 1983 too i supposed?

stop all these bullz n own up! Some1 has a very bad omen, stinking boDy odour!


Vampire in human flesh!

RiteBlog:
The ruins of Jonathan is NOTHING compared to the ruins Obasanjo met.

A failure will always have an excuse, even if heavens come to the earth.

The thing with strewpid excuses is that they wud alway bring ur legs out in d long run

www.nairaland.com/attachments/4851740_4398902wpidimg20150321132723jpeg25e52f7758700608bc9bfe087c4e93a8_jpegfd0a5ce40c2dce89bb22c84ac981ed3f

This viral image captures the predicament of broke and looted Nigeria.

HARDDON:
Op, GEJ IS to be blamed 4 1983 too i supposed?

stop all these bullz n own up! Some1 has a very bad omen, stinking boDy odour!


Vampire in human flesh!

Be logical in your argument. We're talking about the current recession you can take it from him with all this revelations he is to be blame. Forget 1900 we are talking in the now

kITATITA:
You play politics if you exonerate APC. The ex-governors who challenged Federal Government when Ngozi admonished them to save are in this government. Saraki is there. Amaechi is there. Add Akpabio. Truth is that we were behaving as of we were drunk. Some people were throwing government money at every passers-by while we applauded them.

I don't understand your stand in your argument. The point I got clear is everybody you mentioned then were all PDP so you agree with the op.

pafra:

Be logical in your argument. We're talking about the current recession you can take it from him with all this revelations he is to be blame. Forget 1900 we are talking in the now

U ignore ,isolate history n hope to make a headway?

Where do u think from, you bum? Werent u warned?

*************************************

"The choice before Nigerians in the coming election is simple: A choice between going forward or going backwards; between the new ways and the old ways; between freedom and repression; between a record of visible achievements and beneficial reforms – and desperate power-seekers with empty promises…
Our political opponents shall assail us with the fury of their desperation to win power. They will use every means – intimidation, false accusations, hostile media and more. Do not descend to their level. We must stay focused on the mission at hand – to secure Nigeria’s future.”
Jonathan's acceptance speech to run for second term at Eagle Square in Abuja, Dec, 2014

pafra:


I don't understand your stand in your argument. The point I got clear is everybody you mentioned then were all PDP so you agree with the op.

Did Amaechi and Saraki change because they swapped their PDP cards for APC?

kITATITA:

Did Amaechi and Saraki change because they swapped their PDP cards for APC?

Is that the line of argument We are saying the PDP caused it. I don't care which party they belong to now. Your problem is comprehension be clouded by party politics. Be objective in reasoning

Can your bad English be blamed on your parents?

pafra:

Is that the line of argument We are saying the PDP caused it. I don't care which party they belong to now. Your problem is comprehension be clouded by party politics. Be objective in reasoning

I am saying that the political class caused it. The governors who went to court to challenge FG included Fashola, Akpabio, Amaechi and Saraki. I don't belong to any party; though I'm a Buhari supporter. There are no clear cut difference between the two. People don't get clean by changing political alliance.

In a nutshell, three policy blunders destroyed the economy of the nation. And PMB was DIRECTLY responsible for all the three blunders. And, nope, the drop in oil price was not part of it.

1. Failing to unite the country; and provoking the Niger Delta uneccessarily

PMB, without any due consultations, terminated the survilence contract that had been handled by ND youths for years now. (By the way I heard that he had reawarded the contract to a notherner). As if that was not enough he cut down the budget for the armnesty programe and threatened to terminate the program altogether.

Of course this was after dividing the country into 97% and 5%. Mind you, sane people from around the world (and even here on NL) warned the govenment about its economic suscide mission. But they were too sturbborn and arrogant to listen to the voice of wisdom.

In fact they actually bombed ND with impunity, forgeting that there can never be prosperity where there is no peace. By the time the ND youths were done avenging whatever, the oil production had been virtually grounded. The country's major source of forex had just crumbled. And that was for several months.


2. Instigating massive capital flight and demolishing investors' confidence

Trump had 90% of his team up prior to his inaugration. But PMB took nearly six monrhs (AFTER his inaugration) to setup what can be termed Nigeria's worst cabinet since 1999. He even called them "noise makers" before their assembly. This delay in setting up the country's executive team made foreig direct investors to start looking elsewhere.

And by the time the presidency started demonizing and threathening everyone, the foreign investors started flying away in droves.Now add this to the fact that up till now this government does not have a seasoned economic team nor direction. This shows why official inflation rate got shoot up by more than 100% in a little over 1 year. (You certainly do not want to hear the unofficial rate).

3. Erratic approach to foreign exchange terms and other related policies.

First the govt. woke up one morning and decided that folks could no longer withdraw or deposite forex over the counter, thereby creating massive panic, confusion and more erossion of investor confidence. In fact many companies were blocked from accessing their funds in forex. But the govt. suddenly reversed this policy after creating nedless confusion. Talk of trial and error.

Later the case of needful devaluation (or free floating) of the Naira came up. But the presidency vowed that it would never happen thereby sending the remaining investors away.

Of course the govt. later shifted their position (after doing the damage) and claimed that they had adopted a free float system. But guess what? It's all a lie. Naira is still being pegged, though no longer at N199. However the investors are not fooled. So they are still not here.

Plus, when the import dependent economy could no longer be fueled with the scarce forex, the cost of production soared and so did the inflation, thereby crippling the production and GDP generally. Yet, all the while, interest rates remained high and wages were either slashed or owed.

And, mind you, while most manufacturers and importers could not access forex at reasonable rates and were therefore closing down their shops, some religious and connected folks were getting the stuff from the govt. at some obscene and insanely subsidized rates.

That's how we got here in a nutshell.

In conclusion...

Of course there is no way the previous govetnment (of seasoned technocrats) could have made any of the above three mistakes. And mind you those three mistakes are not actually distinct from each other. One simply led to the other until they translated to the vicious circle they are now. Unfortunately folks like you keep taking the night for the day.

Diamby:
People who criticize the present administration for the economic recession we are should tell us what the ousted government of GEJ would have done differently to halt the recession. We all know that i was the sharp drop in oil prices and lack of savings that threw us into this recession.Does jonathan have the powers to regulate international oil price? Nigeria is largely dependent on its earnings from crude oil for survival as such the oil prices affected our dollar earnings thereby causing the devaluation of the naira.I also ask what has previous administration done about diversifying the economy,building new refineries or revamping the old ones.power sector reforms as i know was a mess as most of the power infrastructure were handed over to those who have no capacity to manage them hence the eratic power supply we have now. The present govt might have its own issues about sound economic policies but i must say no foundation was built for the present government to build on so its like nigerian is just been nutured from the begining. Guys feel free to critise and add your own comments on how we found ourselves where we are today.Nigeria problem is structural.

https://www.nairaland.com/3609426/gej-stopped-recession

[s]

pafra:
*WE WERE WARNED*

"Over 20 billion dollars unremitted to the Federation account, and if nothing is done by 2015 upward, Nigeria will know what economic crisis is"
*~ Emir Sanusi Lamido Sanusi*

"Whoever wins 2015 will NEVER find it easy to govern. Over 30 trillion is mismanaged, unaccounted for or missing under Jonathan."
*~ Prof Charles Soludo*

"Our reserve is depleted and our savings are squandered. Our nation is in trouble."
*~ Dr Oby Ezekwesili.*

"For seven months, NNPC did not remit any money into federation account. When I called as a sitting governor and major oil producing state, Deziani Alison Madueke refused to pick my calls."
*~ Godswill Akpabio*

"I told them to save ahead of eventualities but Jonathan had no political will to do so and this is the reason why we are in crisis, because we squandered our boom."
*~ Okonjo Iweala*

"Okonjo-Iweala, Sanusi urged us to save but we state Governors refused to save for the unseen future during the tenure of Goodluck Jonathan, despite warning from economic experts."
*~ Peter Obi*

"Jonathan is a blessed ATM machine that doesn't have secret pin number"
*~ Bala Mohammed*

[/s]

Buari is a bad market remove him today the economy will bounce back, if he remains two things will happen he will either kill nigeria or nigeria will kill him both are in life support now who will die first nigeria or buari

RECESSION:

* Tompolo was paid 13Billion.
* Ex-CDS,Alex Badeh dug a pit toilet to hide $32m.
* Patience Jonathan is claiming $31m, she has sued the Nigerian state.
* Femi Fani-Kayode took 740M.
* Dasuki used trucks to load over $35B from the CBN.
* Olisa Metuh took 400M.
* Aziboala, GEJ's cousin took 6B naira.
* Nenadi Usman took 3.5B naira.
* Fayose took 3B naira.
* Obanikoro took 4Billion naira.
* Olu Falae took 100M naira.
* Tony Anenih - 400M naira.
* Oritsejafor - $35M
* Former Air Chief Amosu - 2Billion naira.
* Lucky Igbinedion-16B naira.
*Bode-George and Dabo -100B naira
* Jolly Nyame-2.4B naira.
* Joshua Dariye-700M naira.
*Nyesom Wike stole #4b.
* Diezzani with $20 billion missing oil money?
15 billon dollars missing from arms fund, 10 billion naria, converted to dollars and given as gift to delegates of PDP Nation convention, Bafarawa collected 3 billion for spiritual purposes , 12. 7 billon naria for deceased NEPA staff grew wings and disappeared, 20 billion dollars missing from NNPC accounts, 23 billon naira as bribe to INEC staffs to rig the general election. The list is endless. They only left what they can't carry or unable to lay their hands on. The list continues.....
Recession didn't just happen, people looted Nigeria into RECESSION happening....

NOW HEAR THE THIEVES:

1. I acted based on Jonathan's instruction - Dasuki

2. I didn't give order - Jonathan

3. I collected 350M from Dasuki for consultation - Iyorchia Ayu

4. I only collected $30,000 from Dasuki not N100m - Bode George

5. I got N4.6b from Dasuki for spiritual purposes - Bafarawa

6. I got N650M from Dasuki for my Abuja burnt office - Thisday Obaigbena.

7. I got N2.1b from Dasuki for publicity - Dokpesi

8. I got another N100m from Yuguda he didn't tell me from where - Bafarawa.

9. I gave N100m each to Odili, Jim Nwobodo Bode George and others - Yuguda

10. The president asked me to change N10B to foreign currency for PDP delegates - Dasuki

11. My boss asked me to get $11M from the CBN - Dasuki's account officer.

12. I got order from above to pay Tompolo N13B for Maritime university land. - Nimasa DG.

13. 950m was shared in my house -- Shekarau

With all this looting and many more revealed, some people are still shouting no sign of change yet, they even say it's political persecution.

But I believe, it is the right thing to do.
If you believe too, send this to other people to garner more support for the fight against corruption and looting in our nation. There must be consequences for such crimes otherwise Nigeria will not d

Baba recession has done what he usually do.

Dude no one blames this administration for the recession.

The recession was inevitable with the dwindling oil prices, we BLAME this administration however for how they managed the recession.

Their lackadaisical attitude, inefficient and ineffective polices and divisive leadership.

Get your facts right dude.

I can see APC has renewed the contract of their online zombies.
Dudes welcome back.

rose54321:
Dude no one blames this administration for the recession.

The recession was inevitable with the dwindling oil prices, we BLAME this administration however for how they managed the recession.

Their lackadaisical attitude, inefficient and ineffective polices and divisive leadership.

Get your facts right dude.

I can see APC has renewed the contract of their online zombies.
Dudes welcome back.

We were full in recession about the middle of last year I am too sure that will be out by the last quarter of this year all things been equal .

I also agree with the handling of the whole issue they can do better

I