Nigeria real net oil export revenue: 2010-2015 (under President Jonathan)

Oil price $110 per barrel average
Stable oil production at 2.4 million barrels per day

2010-$70 billion
2011-$99 billion
2012-$94 billion
2013-$84 billion
2014-$77 billion
2015-$21 billion (January-May)

Total-$445 billion

Source: OPEC Revenue Fact Sheet and Energy Information Administration (EIA), a statistical arm of the US Department of Energy for various years; and my estimates.

Outcomes in 5 YEARS:

a) External reserves declined from $47 billion in 2013 to $29 billion in 2015;
b) Savings depleted from $21 billion in 2010 to $2 billion in 2015.
c) Federal Government borrowed $2 billion to pay salaries.
d) 24 States of the federation bankrupt -could not pay salaries of workers, could not repay debts and other contractual obligations.
e) accumulated arrears of workers salaries and pensions, running into billions of Naira.
f) accumulated contractors debt such that all major construction works stopped.
g) NNPC technically bankrupt.
h) Foreign Direct Investment (FDI) at its all time low. Declined to $3.1 billion in 2015 from $8.8 billion in 2011
i) Nigeria's Credit Rating downgraded
j) Massive capital flight: industries relocating to neighbouring West African countries.

Nigeria real net oil export revenue: 2015-2017 (under PMB)

Oil price $45 per barrel average
Loss of 1.2 million barrels per day due to disruption by the Niger Delta Avengers

2015-$16 billion (June-December)
2016-$26 billion
2017-$10 billion (January-April)

Total-$52 billion

Outcomes:in 2 YEARS

a) External reserves boosted to $31.22 billion from $29 billion in 2015;
b) Savings increased to $2.29 billion from $2 billion in 2015.
c) Federal Government stopped borrowing to pay salaries.
d) 24 States of the federation bailed out- to pay salaries of workers, repay debts and other contractual obligations.
e) Settled fully accumulated arrears of workers salaries and pensions, running into billions of Naira.
f) Settled fully accumulated contractors debt such that all major contractors are now back to site.
g) settled fully oil importers claims amounting to $400 million.
h) NNPC restructured and now solvent and liquid.
i) Foreign Direct Investment (FDI) steadily picking up.
j) Agricultural revolution taken off such that we now have small holder farmers millionaires.
k) Looted funds recovered running into trillion Naira mark and ploughed back into the budget.
l) TSA the plugged loopholes of waste and swindle of public funds, now N4 trillion.
---to mention just a few

Bottom line:

a) Those looking for a magic wand, here it is. Using $52 billion or 12% in TWO years to achieve what Jonathan could not achieve with $445 billion in FIVE years.

b) Only an incorrigible hater will say that Nigeria is not making progress under the PMB administration with the acute resource constraint and the multiplying challenges facing the country.

Copied

Wish u know wettin dey pain me. I listened to 2shot and nigga raw song. There was a part he said he bought one cup of garri at 20 naira m and the nigga still dey complain. Now cup of garri is about 300 naira or so......... No wonder people faint in peace easily these days

Trash! Contractors on Lagos-ibadan express way are no more on site,buhari government is more useless than gej own

It was because of the failure of GEJ that APC was chosen among others cos they promised to stabilize world oil prices and make the naira equal to dollar

But unfortunately they didn't come to move us forward, they came with intent of living large, when they saw that the money is not enough, they turned to blame game

Obasanjo came in after massive undocumented looting by the military, oil price was below $30/bbl, with huge debt profile and almost zero infrastructure but he didn't blame Abacha, he engaged technocrats devoid of quota system and 97% votes and turned the country around from the dark days of military rule.

Stop comparing, if you can't do the work, get ready to be booted out

That is why GEJ and all the ministers who served under him have to be locked away for life.

ITbomb:
It was because of the failure of GEJ that APC was chosen among others cos they promised to stabilize world oil prices and make the naira equal to dollar

But unfortunately they didn't come to move us forward, they came with intent of living large, when they saw that the money is not enough, they turned to blame game

Obasanjo came in after massive undocumented looting by the military, oil price was below $30/bbl, with huge debt profile and almost zero infrastructure but he didn't blame Abacha, he engaged technocrats devoid of quota system and 97% votes and turned the country around from the dark days of military rule.

Stop comparing, if you can't do the work, get ready to be booted out

stop being clever by half, there is dip in revenue generated and you expect economy not to be affected.is buhari a magician
Buhari has proved to be financial prudent even with the economy crises the present administration rolled out palliatives to states in order to offset salary backlogs.
Before you compare obasanjo regime with $30 per barrel you can as well tell us the population index of 1999 compare to 2016 ,cost of governance 1999 to 2016,
Give Buhari same field playing level and watch him dwarf Obj,yar adua,Gej achievements all together

Op this mathematics can only be good where Adeosun and Oshiomhole are concerned.

Why will you play down on the borrowings of your paymaster Buhari within the two years.

Lai Mohammed has taught us to look twice before believing.

To me, Yar Adua was even a better manager than both of them so far, looking at his statistics he left larger external reserves. There was progress from Obj to Yar Adua and then to the first few years of Jonathan. But Jonathan was most fortunate of all with a more stable oil price on the average and of course higher prices.
Jonathan must be congratulated on other aspects though. He had some creative ministers like his minister of agriculture, and also he invested better in infrastructure, he was just way too carefree and was greatly destabilized by BokoHaram.

And I ask again, was it Jonathan that crashed world oil prices?

Because I can't understand why this administration has been crying and wailing about how Jonathan sold oil for above 180 dollars.

Did this administration fight to win the presidency just on the sole purpose of selling oil above what Jonathan sold it? These guys are just dreamers

The only time to know good administrations is during tough times, breeze don blow, we have seen the rump of the chicken.

Btw, these guys should all resign and hand over power to Shonekan if they don't know what else to do apart from hoping on high oil prices.

This isn't a skewed analysis.

SonofDevil:
stop being clever by half, there is dip in revenue generated and you expect economy not to be affected.is buhari a magician
Buhari has proved to be financial prudent even with the economy crises the present administration rolled out palliatives to states in order to offset salary backlogs.
Before you compare obasanjo regime with $30 per barrel you can as well tell us the population index of 1999 compare to 2016 ,cost of governance 1999 to 2016,
Give Buhari same field playing level and watch him dwarf Obj,yar adua,Gej achievements all together

So why can't Buhari reduce the cost of governance, at least we should start from there

ITbomb:

So why can't Buhari reduce the cost of governance, at least we should start from there

Exactly.

The information contained in this post are facts supported by verifiable figures. It is just that APC haven't shown any sense of seriousness in moving Nigeria forward. That is their only sin. Jonathan dealt with Nigeria no be small.

[s]

successmatters:
And I ask again, was it Jonathan that crashed world oil prices?

Because I can't understand why this administration has been crying and wailing about how Jonathan sold oil for above 180 dollars.

Did this administration fight to win the presidency just on the sole purpose of selling oil above what Jonathan sold it? These guys are just dreamers

The only time to know good administrations is during tough times, breeze don blow, we have seen the rump of the chicken.

Btw, these guys should all resign and hand over power to Shonekan if they don't know what else to do apart from hoping on high oil prices.

[/s]

Some times your ignorance insults the dumb ... it will do you a world of good to shutup when you have little capacity to comprehend the topic of discussion.

Never knew we still have zombies left.

Op you are one of the few zombies still roaming.

Achiles:
Nigeria real net oil export revenue: 2010-2015 (under President Jonathan)

Oil price $110 per barrel average
Stable oil production at 2.4 million barrels per day

2010-$70 billion
2011-$99 billion
2012-$94 billion
2013-$84 billion
2014-$77 billion
2015-$21 billion (January-May)

Total-$445 billion

Source: OPEC Revenue Fact Sheet and Energy Information Administration (EIA), a statistical arm of the US Department of Energy for various years; and my estimates.

Outcomes in 5 YEARS:

a) External reserves declined from $47 billion in 2013 to $29 billion in 2015;
b) Savings depleted from $21 billion in 2010 to $2 billion in 2015.
c) Federal Government borrowed $2 billion to pay salaries.
d) 24 States of the federation bankrupt -could not pay salaries of workers, could not repay debts and other contractual obligations.
e) accumulated arrears of workers salaries and pensions, running into billions of Naira.
f) accumulated contractors debt such that all major construction works stopped.
g) NNPC technically bankrupt.
h) Foreign Direct Investment (FDI) at its all time low. Declined to $3.1 billion in 2015 from $8.8 billion in 2011
i) Nigeria's Credit Rating downgraded
j) Massive capital flight: industries relocating to neighbouring West African countries.

Nigeria real net oil export revenue: 2015-2017 (under PMB)

Oil price $45 per barrel average
Loss of 1.2 million barrels per day due to disruption by the Niger Delta Avengers

2015-$16 billion (June-December)
2016-$26 billion
2017-$10 billion (January-April)

Total-$52 billion

Outcomes:in 2 YEARS

a) External reserves boosted to $31.22 billion from $29 billion in 2015;
b) Savings increased to $2.29 billion from $2 billion in 2015.
c) Federal Government stopped borrowing to pay salaries.
d) 24 States of the federation bailed out- to pay salaries of workers, repay debts and other contractual obligations.
e) Settled fully accumulated arrears of workers salaries and pensions, running into billions of Naira.
f) Settled fully accumulated contractors debt such that all major contractors are now back to site.
g) settled fully oil importers claims amounting to $400 million.
h) NNPC restructured and now solvent and liquid.
i) Foreign Direct Investment (FDI) steadily picking up.
j) Agricultural revolution taken off such that we now have small holder farmers millionaires.
k) Looted funds recovered running into trillion Naira mark and ploughed back into the budget.
l) TSA the plugged loopholes of waste and swindle of public funds, now N4 trillion.
---to mention just a few

Bottom line:

a) Those looking for a magic wand, here it is. Using $52 billion or 12% in TWO years to achieve what Jonathan could not achieve with $445 billion in FIVE years.

b) Only an incorrigible hater will say that Nigeria is not making progress under the PMB administration with the acute resource constraint and the multiplying challenges facing the country.

Copied

If we continue this slow but steady progress under PMB
this country will be better for it.

okay oo

Ekinematics:
Never knew we still have zombies left.

Op you are one of the few zombies still roaming.

Must you trivialise every sensitive discussion? If you can't comment sensibly, keep your foul mouth shut. You don't argue verifiable facts and figures.

So under GEJ, the oil got $21 billion in 2015 in five months while the next seven months in the same year under PMB got $16 billion (June - December) even when there wasn't disruption.

What a stupid and most political induced computation.

Tufiakwa

@OP, source ASAP if available, please.

Achiles:


Must you trivialise every sensitive discussion? If you can't comment sensibly, keep your foul mouth shut. You don't argue verifiable facts and figures.

Sensible people don't debate a deliberate stupidity.

It doesn't make sense rather it corrupts.

Well, poster has a point, but still, PMB regime dey mess up total

docadams:
@OP, source ASAP if available, please.

Source: OPEC Revenue Fact Sheet and Energy Information Administration (EIA), a statistical arm of the US Department of Energy for various years.

omoalaro:


If we continue this slow but steady progress under PMB
this country will be better for it.

yet he is ruling u 4rm London,doz campaign promises has he achieved any,he claimed no money was left for him as GEJ left yet he gave 36 states billions of saved funds from GEJ administration so bobo can u also c

my surprise is that the op is a youth, may God abandon you the way Buhari abandon this country and be collecting salaries and allowances since may


comparing a govt that was subsidizing virtually every commodity for the masses with this anti people's govt, you are a wicked fellow

by this time in 2012, 10-lane Abuja airport road was completed

by this time in 2012, 10-lane A.Y.A-Zuba road was completed

by this time in 2012, minimum wage was increased to N18,000

by this time in 2012, NYSC Allawee was increased to almost 20k from a paltry 9k

by this time in 2012, renovation in all the airports had begun

built almajiri schools with free meals targeted at taking almost a million kids out of the streets

and many more

richidinho:
my surprise is that the op is a youth, may God abandon you the way Buhari abandon this country and be collecting salaries and allowances since may

Amen!

richidinho:
my surprise is that the op is a youth, may God abandon you the way Buhari abandon this country and be collecting salaries and allowances since may

What has that got to do with his arguement and the data he presented?

richidinho:
my surprise is that the op is a youth, may God abandon you the way Buhari abandon this country and be collecting salaries and allowances since may


comparing a govt that was subsidizing virtually every commodity for the masses with this anti people's govt, you are a wicked fellow

by this time in 2012, 10-lane Abuja airport road was completed

by this time in 2012, 10-lane A.Y.A-Zuba road was completed

by this time in 2012, minimum wage was increased to N18,000

by this time in 2012, NYSC Allawee was increased to almost 20k from a paltry 9k

by this time in 2012, renovation in all the airports had begun

built almajiri schools with free meals targeted at taking almost a million kids out of the streets

and many more

Please just tell us the address of one almajiri school, just one.

Your hero saw fuel subsidy move from N250b to N1.3t in one year, without stable supply of petroleum products nor astronomical growth in number of vehicles and you call that an achievement?

Wailers sha. So shallow

[quote author=richidinho post=59447523]my surprise is that the op is a youth, may God abandon you the way Buhari abandon this country and be collecting salaries and allowances since may


comparing a govt that was subsidizing virtually every commodity for the masses with this anti people's govt, you are a wicked fellow

by this time in 2012, 10-lane Abuja airport road was completed

by this time in 2012, 10-lane A.Y.A-Zuba road was completed

by this time in 2012, minimum wage was increased to N18,000

by this time in 2012, NYSC Allawee was increased to almost 20k from a paltry 9k

by this time in 2012, renovation in all the airports had begun

built almajiri schools with free meals targeted at taking almost a million kids out of the streets

and many more
[/quot



You don't have to be this stupid and naive. Jonathan was a curse and God's punishment to this country. You sound so naive that you can't discuss basic economic without name calling . God has abandoned your entire generation. Bastard.

Cooked lies everywhere!