seguno2:


True that.
Everything about the Buhari administration is technical. Never the real thing. Technical equals LIES.
Big fat lies.
Technically defeated Boko Haram since December 2015!
Technically lowered inflation.
Even this fake news of higher reserves is another technical propaganda story.
Believe at your own risk and peril.

felixomor:


Should I mention the past presidents who increased both external reserves and cleared debt at the same time?

jomoh:
Yes he did all that with the cosmetic growth Nigeria had with oil price averaging $110 per barrel

Clerverly:
This is the same Foreign reserve ex president Jonathan met at 56Billion Dollars....but with of help Deziani, Dasuki, FFK, Wike and other corrupt economic terrorists, they shared more than Half of the common Patrimony...only handed less than 22Billion Dollars To Buhari.

handsomeyinka:
If na play,make you stop am ooo...The only thing Jonathan did in this country was to declare himself as the most clueless president in the history of Nigeria.

nawtyme:
Previous Govts Initiated ‘Most Of The Things This Administration Is Doing’ – Adesina

A majority of the projects the Muhammadu Buhari administration is working on was inherited from previous administrations, the Special Adviser to the President on Media and Publicity has said.

Mr Femi Adesina said this when he appeared on Channels Television’s special Independence anniversary programme on Sunday.

“Most of the things this administration is doing – 60 to 70 percent of them – were initiated by previous governments,” he said.

“That shows you that in the past a government will come and say ‘this is not our project’ And it will discard what was being done and start fresh ones.”

As a result, Mr Adesina said there are many half and quarter-completed abandoned projects.
But rather than abandon the project, he explained that the current administration will complete it.

An example is the Abuja-Kaduna rail project which the Presidential aide said was up to maybe 60 to 70 percent complete when the last administration left.

“This administration came, completed it and inaugurated it. Then you will still find some people shouting, ‘they are claiming credit for what the past administration started,” he said.

“It shows there is a mentality in Nigeria that makes governments not want to complete what previous governments have started. But this administration is not going that way at all, it is just doing what needs to be done for the good of the country.”

Another example is the Mambilla power project, which has been in the works since 1972, but has now started taking shape under this administration.

In going about its activities, Mr Adesina said the Federal Government follows due process in the awarding of contracts, stressing that projects worth above N50m will require the permission of the Federal Executive Council before such a contract can be awarded.

“One thing this government does scrupulously is to follow due process in the award of all these contracts and projects.

“Anything that is above N50m must come to the Federal Executive Council. Before the FEC will endorse any project or contract, the Bureau of Public Procurement must have signed off on that project that it is worthy to be done and the projections are good, that this government does not joke about.”

https://www.channelstv.com/2017/10/01/previous-govts-initiated-most-of-the-things-this-administration-is-doing-adesina/

jomoh:


Mention them and mention the capital expenditures they spent money on.

Debt clearing is not the most important. the most important is what you achieve. what is the point of clearing debt when you cannot use the money to fund capital expenditure.

Norway has one of the highest Debt in the world but they are one of the richest countries on earth.

Your debt does not define you. What defines you is what you spend the borrowed fund on.

There's hardly a justification you can give to paint this government bad in terms of economy because your first question shows how much you know about economy. Don't take it personal it's not an insult cos like u told you, a chartered accountant friend of mine also asked the same question.

What you don't know, you don't know. There's no short cut and no crime in it.

A lot of things are going on in this government that Nigerians should be very happy about but no we choose to focus on trivial issues of politics that has nothing to do with the growth of the economy rather they divide us as a people.

jomoh:



Because external reserve is not meant to be spent. it is a collateral that the creditors see that your country has the capacity to payback it's loan. The higher your external reserve, the higher the amount creditors will be willing to loan you for your deveopment.

Most people don't understand this. Even my chatered accountant friend shamelessly asked this same question.

The joyful thing about this government is that unlike the previous governments we've had in this country who borrow to fund recurrent expenditures like salaries, this government is borrowing to fund capital expenditures. An example is the Sukuk bond that was handed over to Fasola to constrict roads.

seguno2:


IF you are not a bloody liar like the technical defeat, technical inflation and technical reserve Buhari liar, show us where oil price averaged $110 from 2010 to 2015.
Thanks.

jomoh:


Mention them and mention the capital expenditures they spent money on.

Debt clearing is not the most important. the most important is what you achieve. what is the point of clearing debt when you cannot use the money to fund capital expenditure.

Norway has one of the highest Debt in the world but they are one of the richest countries on earth and one of the best countries in earth you can stay of you have the money.

Your debt does not define you. What defines you is what you spend the borrowed fund on.

There's hardly a justification you can give to paint this government bad in terms of economy because your first question shows how much you know about economy. Don't take it personal it's not an insult cos like u told you, a chartered accountant friend of mine also asked the same question.

What you don't know, you don't know. There's no short cut and no crime in it.

A lot of things are going on in this government that Nigerians should be very happy about but no we choose to focus on trivial issues of politics that has nothing to do with the growth of the economy rather they divide us as a people.

valentineuwakwe:
then why do we want to still borrow.? let the high figure translate to our economictransformation for the common man

seguno2:


IF you are not a bloody liar like the technical defeat, technical inflation and technical reserve Buhari liar, show us where oil price averaged $110 from 2010 to 2015.
Thanks.

IFNOTGOD:
sometimes no dey waste ur strength on some people wen forget their sense for kitchen den come parlour begin mess up

jomoh:
I would have said google is your friend my dear but I know you're an hypocrite and an illiterate one at that.

Here you go. it's even a graph for illiterates like you.

http://nigeria.opendataforafrica.org/iaeapfb/monthly-crude-oil-prices

GavelSlam:


Why does USA owe 19 trillion dollars?

China's debt is 10 Trillion dollars

The Netherlands owes 799 billion dollars.

The South Africa you all run to despite the 'genocide' owes 347 billion dollars.

Nigeria's debt is 13 billion dollars foreign and 14 trillion Naira (46 billion dollars) local debt.

Put together our debt is less than 60 billion dollars.

http://www.nationaldebtclocks.org/

https://www.google.no/amp/s/www.premiumtimesng.com/news/headlines/243644-nigerias-foreign-debt-40-buhari-nbs.html/amp

jomoh:
I would have said google is your friend my dear but I know you're an hypocrite and an illiterate one at that.

Here you go. it's even a graph for illiterates like you.

http://nigeria.opendataforafrica.org/iaeapfb/monthly-crude-oil-prices

IFNOTGOD:


noted now use ur own sense to compare d rate of development of these countries u mentioned to the present Nigerian state, the countries u mentioned are owing yet have a sound economy as compared to ur country owing less, sometimes we shouldnt not always b daft, if dey talk of development now u will bring anoda argument but u are quick to compare wen it comes to negativity, the money u saved from TSA n recovered loot wat was it used for? u need 5.5 billion dollars n u have a savings of 33.5b dollars now minus d 5.5 if u wont still have a sustainable foreign reserve so y borrow now at d detriment of d nation. if u no know something make una try dey shut up

IFNOTGOD:


anoda mumu u have such a high reserve yet ur dollar is still 365, u cant pay workers, food stuff is still on the high side n ur industries are working below minimum capacity, i wonda wen una go get sense, u have such in ur foreign reserve why not collect from there instead of borrowing dat will increase your debt profile, den consider d interest rate to b paid on such borrowing. if i may ask wat is the need to borrow when u have savings acct at 4% interest rate and den u go out to borrow at an interest rate of 10% does it show u are sensible?

try get sense if u thnk ur external reserve amounts to progress of d masses

Ugosample:

Buhari's govt is the worst government since Babangida.
I can't imagine people still hailing this govt

Shame

aolawale025:
When the missing 25b dollars is factored in. Plus some other missing funds here and there, the reserves ought to be approaching 100b dollars. But no. Too many crooks dipping in the cookie jar

jomoh:



Spend from the external reserve? no wonder Nigeria is where we are.

You need $200b for capital expenditure and you have $33b so you spend the whole $33b on it? marvelous.

let me explain to you in a layman's language illiterate.

This is the reason why Dangote is rich. He uses your own money in your account to fund his own refinery through the $9b loan he collected using his Dangote cement worth just over $3b as colateral. Once he completes the refinery, he would have had another asset to use as colateral to borrow another $50b dollars of your own savings to build another project. By the time he is through with that $50b project, he would have had another asset to use as collateral to borrow another $100b. By the time he is through, he would have had about $150b networth. whereas he started with just $3b Dangote cement.


A country's external reserve is the most important factor for any serious nation.

GavelSlam:


The rate of development it seems is directly proportional to debt if you asked me.

You owe less you develop at a slower rate.

jomoh:



Spend from the external reserve? no wonder Nigeria is where we are.

You need $200b for capital expenditure and you have $33b so you spend the whole $33b on it? marvelous.

let me explain to you in a layman's language illiterate.

This is the reason why Dangote is rich. He uses your own money in your account to fund his own refinery through the $9b loan he collected using his Dangote cement worth just over $3b as colateral. Once he completes the refinery, he would have had another asset to use as colateral to borrow another $50b dollars of your own savings to build another project. By the time he is through with that $50b project, he would have had another asset to use as collateral to borrow another $100b. By the time he is through, he would have had about $150b networth. whereas he started with just $3b Dangote cement.


A country's external reserve is the most important factor for any serious nation.

felixomor:


Pls are you trying to use capital expenditures to Justify this govt?

I dont think there is any infrastructure that justifies the capital expenditure of this administration.
Secondly, you claim to know about these things yet you want me to mention the capital expenditures of those presidents in the past
Who 1. Worked with lower budget
2. Funded many agencies that were not yet privatized even from the lower budget.
3. Still cleared debts and yet increased reserves

My dear, there is more explanation for this people to do

IFNOTGOD:


MUMU was it 200b dollars d govt wants to borrow or 5.5billion dollars simple calcualtion 33.5 -5.5=28.5 dat cus still be increased illiterate mufo n i know u will always bring a stupid argument, did u read d interest rate he collected those loans some at 9% and others at 10% now mumu do u know d rate he cud fixed 10billion naira in a bank nothing less dan 13% n den check rate of T-bills now u will see he is wise enuf and not dumb like ur so called sef whats is d interest rate Nigeria is collecting these bonds and loan, guy try get sense cos ur illiteracy just too dey alarming.

whats is ur total budget for the year dat u are talking of 200 billion dollars guy u sure say ur sense dey wit u?

try check google n see d rate those loans were given to dangote if na me i go collect at 10% put am for t-bills or fixed deposit cos those rate will b higher dan d rate u pay as interest on such loans try ask how much interest rate would b paid on 10million dollars in fixed deposit.

How much is ur budget for this yr?

sorry i forget APC n crew are gud at brandishing figures hence the so called recovered loot have not been put into gud use cos dey dish out d figures gullible minds like u rejoice n it ends there till dis moment 10% of ur budget has not been implemented, industries are folding up yet ode like u go rejoice at a brandish figure

very normal for APC n crew to always change d goal post to suit themselves

seguno2:


See correct table below as I requested:


Annual Average
Domestic Crude Oil Prices (in $/Barrel)
Inflation Adjusted to July 2017

Year Nominal Price Inflation Adjusted Price

2010 $71.21 $79.93
2011 $87.04 $94.73
2012 $86.46 $92.20
2013 $91.17 $95.79
2014 $85.60 $88.47
2015 $41.85 $43.22


https://inflationdata.com/Inflation/Inflation_Rate/Historical_Oil_Prices_Table.asp

GavelSlam:


If industries are folding up how come:

Odu'a declared 788 million Naira profit in 2016

Dangote sugar posted 14 billion same year.

12 banks declared a joint profit of 366 billion Naira and that's only for the first half of the year?

Also, the Nigerian stock market for the first half of the year made 2.2 trillion Nairn gain.

https://www.nairaland.com/4069047/odua-declares-n788m-profit-2016

http://www.invest-nigeria.com/twelve-banks-declare-n366-4-billion-profit-h1-2017/

http://leadership.ng/2017/07/03/nigerian-stock-market-records-n2-2trn-half-year-gain/

Clerverly:
May God Continue To Bless President Buhari!

By the time his Tenure elapses in 2023, Nigeria Will Have Been Placed In The Rightful Position Among The Comity Of Nations...

IFNOTGOD:


MUMU was it 200b dollars d govt wants to borrow or 5.5billion dollars simple calcualtion 33.5 -5.5=28 dat cus still be increased illiterate mufo n i know u will always bring a stupid argument, did u read d interest rate he collected those loans some at 9% and others at 10% now mumu do u know d rate he cud fixed 10billion naira in a bank nothing less dan 13% n den check rate of T-bills now u will see he is wise enuf and not dumb like ur so called sef whats is d interest rate Nigeria is collecting these bonds and loan, guy try get sense cos ur illiteracy just too dey alarming.

whats is ur total budget for the year dat u are talking of 200 billion dollars guy u sure say ur sense dey wit u?

try check google n see d rate those loans were given to dangote if na me i go collect at 10% put am for t-bills or fixed deposit cos those rate will b higher dan d rate u pay as interest on such loans try ask how much interest rate would b paid on 10million dollars in fixed deposit.

How much is ur budget for this yr?

sorry i forget APC n crew are gud at brandishing figures hence the so called recovered loot have not been put into gud use cos dey dish out d figures gullible minds like u rejoice n it ends there till dis moment 10% of ur budget has not been implemented, industries are folding up yet ode like u go rejoice at a brandish figure

very normal for APC n crew to always change d goal post to suit themselves