Jonathan PDP Govt 2010 to 2014

Oil Revenue $381 billion dollars.

Debt increased by $29 billion (From $35bn to $64bn)

Reserves dropped by $6bn ($36bn to $30bn in May 2015)

There was increase in enjoyment due to promotion of consumption and free money.

Buhari APC govt 2015 to 2018.

Oil revenue $112billlion dollars.

Debt Increased by $10billion dollars ($63bn to $73bn)

Federal Reserves increased by $12billion dollars ($30bn in 2015 to about $42bn in 2018)

There is relative increase in hardship due to less free money, relatively less focus on consumption despite low revenue and some focus on capital expenditure.

As a neutral Observer
which of the two above is better in terms of fiscal reaponsibility?.

Main Source of data:

https://www.premiumtimesng.com/news/top-news/292875-nigerias-debt-only-increased-10-billion-since-buhari-assumed-office-osinbajo.html

https://tradingeconomics.com/nigeria/foreign-exchange-reserves


The cry of hardship has not been looked into Objectively.

A drop of oil Revenue from $381bn to $112bn cannot be replaced with magic.

Actually PMB govt has done well with the level of hardship we have today. With the drop in oil revenue shown above, I expected the hardship to be much more than it is today.

One of the reason the hardship is not much relative to drop in revenue is because alot of the money from oil boom during Jonathan era were spent abroad buying houses in dubai, US, Canada etc. Hence the hardship is less compared to the drop in oil revenue because a good portion of the money was not in Nigeria economy.

A drop from $381bn to $112bn is a drop of around $269bn . With our current Fed Govt budget of around $30bn( 9trillion Naira), that drop is equivalent to about 9 years of federal govt Budget.

For those who like comparing with Obj govt.

The govt of IBB, Abacha and Abdusalam from 1990 to 1998 only earn $120bn dollar from oil

Obj/Yar adua from 1999 to 2009 earned $481bn due to higher oil production and increasing price. Nigeria just started deep water oil production during Obj. Hence increased volume of oil export. Currently many of those oil fields( Akpo, Usan, Agbami, Bonga) are producing 50% of thier initial capacity. During Obj most foreign sanction impose in Nigeria by US, UN and EU because of Abacha millitary govt were removed. Higher oil revenue and Sanction relief created the economic improvement under Obj.

And again Nigeria population has almost doubled. From 120million in 1999 to about 200million today with declining resources (oil).

Ngozi Nkonjo Iweala understood how Nigeria economy solely depend on oil price. That was why during Q3 2014 when oil price drop from 100 dollar to 70 dollars, she was already warning us to prepare for recession in 2015. She was already borrowing to pay salary in Q4 2014. During Buhari govt, oil price dropped as much as 28dollars per barrel at its worst though averaged 40 dollars with reduced oil production.

We need aggressive diversification of the economy.

What irks me is the comparison with the government we booted out. Debt isn't bad if there are economically viable projects to show for it. If the debt can deliver good road linking Lagos - Ibadan - ogbomosho - Ilorin axis and Oshogbo - Ibadan axis we can pay it back through electronic tolling in addition if the standard gauge line is active from Lagos - Abeokuta - Ibadan not only are we going to pay back we can start earning revenue from transport outside oil

So buhari's media team should save us the stories on Jonathan and the past.Egypt has added 25,000 megawatts (MW) of new power stations to the national electricity grid during the period from June 2014 to June 2018, resulting in a 25 percent surplus

Are You expecting me to choose Hunger over food on my table?

If I had died of hunger, who would have read your stupid fiscal analysis?

Awol1:
Are You expecting me to choose Hunger over food on my table?

If I had died of hunger, who would have read your stupid fiscal analysis?

Revenue drop is responsible for the hunger. It would have been worse with a more liberal spending govt. because we would have hit the bottom before they realise we need to control free money destroying the country.

Is Buhari and his family also feeling this hunger following the so-called drop in revenue?

Omeokachie:
Is Buhari and his family also feeling this hunger following the so-called drop in revenue?

What we are saying is that, the free spending rent seeking arm of PDP which Atiku represent would be worse under limited Revenue.

Atiku is not a better option under limited revenue because he believes too much on financial patronage of the political and elite class. The Kleptocracy would be worse. Which will further destroy the country future and ordinary Nigerian.

Only a dead man that have no conscience will even imagine a man like Buhari as a lifeless man like himself
Meanwhile just hope you will be alive to tell the story as you welcome him into your life again.Stolkholm Syndrome.

life2017:


What we are saying is that, the free spending rent seeking arm of PDP which Atiku represent would be worse under limited Revenue.

Atiku is not a better option under limited revenue because he believes too on financial patronage of the political and elite class. The Kleptocracy would be worse. Which will further destroy the country future and ordinary Nigerian.

How much did OBJ inherit from the military, and what was the price of oil at the time?
Only a lazy student blames his pen for his inability to pass his exams.

OP, it's night already, go and sleep

OP, it's night already, go and sleep

It's when things are tough and when earnings are low that a manager, a competent leader who is capable of building competent economic team will come and prove his competency just like Obama did immediately he took over from bush, not when all is rosy then you will come to reap glory where you never worked. A good and competent leader accepts responsibilities and tackle challenges Head on and not apportioning blames to the previous government. Let pmb rest so that a competent hand can lift Nigerians out of this wood

Hardship is Buhari's trademark but the yardsticks are more than just what you emphasized.

Allow people make their choices, they're tired of buhari, let them try atiku.

I wonder how any sane human being supports that dullard in Chief.

Buhari APC govt 2015 to 2018.

Oil revenue $112billlion dollars.

Debt Increased by $10billion dollars ($63bn to $73bn)

Federal Reserves increased by $12billion dollars ($30bn in 2015 to about $42bn in 2018)

If debt increased by just $10bn while reserve increased by $12bn as alleged,

-why then did the economy go into recession?
-why are we selling assets to fund 2019 budget?
-Are you aware oil price is at $70/barrel
-Why the wanton sales of bonds and bills?

Please move along with your lies..

Buhari failed to score a pass mark on qualities needed to preside over Nigeria.

Nigeria needs A Unifier

Nigeria needs A Strong Believer in the Seperation of Powers

Nigeria needs A Respecter of the Rule of Law

Nigeria needs a Strengthener of Key Institutions

Nigeria needs a pro-business President

Nigeria needs someone who Understands Pro-Growth Economic Policies

Nigeria needs a Pro-Youth and gender sensitive President.

Buhari's competence and suitability for the office of Nigeria President equals zero

deltaisgreat:
It's when things are tough and when earnings are low that a manager, a competent leader who is capable of building competent economic team will come and prove his competency just like Obama did immediately he took over from bush, not when all is rosy then you will come to reap glory where you never worked. A good and competent leader accepts responsibilities and tackle challenges Head on and not apportioning blames to the previous government. Let pmb rest so that a competent hand can lift Nigerians out of this wood

What did Obama do? Obama increased US govt debt from 11trillion USD to almost 20 trillion USD in eight years to bail out US economy. Obama simply borrowed his way out of recession.

US can borrow so much because the currency for international trade is dollars. Hence US borrowing capacity is not hedge on anything.

Nigeria cannot borrow beyond what oil money can pay for. Lenders wont lend us what oil cannot pay for.

Omeokachie:



How much did OBJ inherit from the military, and what was the price of oil at the time?
Only a lazy student blames his pen for his inability to pass his exams.

The govt of IBB, Abacha and Abdusalam from 1990 to 1998 only earn $120bn dollar.

Obj/Yar adua from 1999 to 2009 earned $481bn due to higher oil production and increasing price. Nigeria just started deep water oil production during Obj. Hence increased volume of oil export. Currently many of those oil fields( Akpo, Usan, Agbami, Bonga) are producing 50% of thier initial capacity.

And again Nigeria population has almost doubled. From 120million in 1999 to about 200million today with declining resources (oil).

We need aggressive diversification of the economy.

Omeokachie:



How much did OBJ inherit from the military, and what was the price of oil at the time?
Only a lazy student blames his pen for his inability to pass his exams.

The govt of IBB, Abacha and Abdusalam from 1990 to 1998 only earn $120bn dollar.

Obj/Yar adua from 1999 to 2009 earned $481bn due to higher oil production and increasing price. Nigeria just started deep water oil production during Obj. Hence increased volume of oil export. Currently many of those oil fields( Akpo, Usan, Agbami, Bonga) are producing 50% of thier initial capacity. During Obj most foreign sanction impose in Nigeria by US, UN and EU where removed. Higher oil revenue and Sanction relief created the economic improvement under Obj.

And again Nigeria population has almost doubled. From 120million in 1999 to about 200million today with declining resources (oil).

We need aggressive diversification of the economy.

This narrative of trying to blame oil prices for the hardship is dead on arrival , Buhari is 200 percent responsible for the hardship and sorrow and hopelessness that has engulfed Nigeria since he arrived ... Nigerian are tired of Buharis actions , inactions , his lack of vision and his dishonesty toward everything that unifies Nigerians ... This video below shows the exact reason why Nigerians want Buhari out


https://www.youtube.com/watch?v=n1Y18fwd7Tw&feature=youtu.be

SarkinYarki:
This narrative of trying to blame oil prices for the hardship is dead on arrival , Buhari

It is fact. There is no magic wand in Nigeria economy beyond oil today until we radically diversify

life2017:


The govt of IBB, Abacha and Abdusalam from 1990 to 1998 only earn $120bn dollar.

Obj/Yar adua from 1999 to 2009 earned $481bn due to higher oil production and increasing price. Nigeria just started deep water oil production during Obj. Hence increased volume of oil export. Currently many of those oil fields( Akpo, Usan, Agbami, Bonga) are producing 50% of thier initial capacity. During Obj most foreign sanction impose in Nigeria by US, UN and EU where removed. Higher oil revenue and Sanction relief created the economic improvement under Obj.

And again Nigeria population has almost doubled. From 120million in 1999 to about 200million today with declining resources (oil).

We need aggressive diversification of the economy.

What census figure are you working with?

Again you stylishly dodged the question...and I repeat.

"How much did Obasanjo inherit from Abdulsalami Abubakar, and what was oil price at the time?"

Diversifying the economy is a no brainer.
Making excuses for Buhari who has plunged us into another recession like he did as military head of state is where we part ways.

I commend the op for this,
This is just a confirmation of what i have be saying that ineffectual buffoon earn $400b in 4yrs,
And Pdp earn $1.1tr in 16yrs,

Buhari earn $94b in 3yrs.

Let the jobless aggressive lazy idiotic pigs of bia-fra terrorist be the judge.

Omeokachie:



What censors figure are you working with?

Again you stylishly dodged the question...and I repeat.

"How much did Obasanjo inherit from Abdulsalami Abubakar, and what was oil price at the time?"

Diversifying the economy is a no brainer.
Making excuses for Buhari who has plunged us into another recession like he did as military head of state is where we part ways.

We are discussing revenue earned during a govt not how much a govt inherited.

A business friend of mine told me, if Buhari wins 2019 he will take his business out of Nigeria. Buhari is badluck

Omeokachie:



How much did OBJ inherit from the military, and what was the price of oil at the time?
Only a lazy student blames his pen for his inability to pass his exams.

this is what i have be saying and op just confirmed it.
Oil was selling @ $30 in 1999-2000,producing 2m barrel per day,
But buhari produce 600-700 barrel per day.

If you don't blame your pen, is it your teeth you will use to write?
At most, you borrow, that is why buhari borrowed to complete the ongoing project after receiving $94b in 3yrs according to OPEC report ,
While Pdp received $1.1tr in 16yrs without a single project.

wickyyolo:
A business friend of mine told me, if Buhari wins 2019 he will take his business out of Nigeria. Buhari is badluck

if thief atiku win i will disappear from Africa,
Thief atiku is bad thief.

buhariguy:
this is what i have be saying and op just confirmed it.
Oil was selling @ $30 in 1999-2000,producing 2m barrel per day,
But buhari produce 600-700 barrel per day.

If you don't blame your pen, is it your teeth you will use to write?
At most, you borrow, that is why buhari borrowed to complete the ongoing project after receiving $94b in 3yrs according to OPEC report ,
While Pdp received $1.1tr in 16yrs without a single project.

You borrow pen to pass exam?

Is it pen you need to pass exam or knowledge?
BMCs are really smart people.

SarkinYarki:
This narrative of trying to blame oil prices for the hardship is dead on arrival , Buhari is 200 percent responsible for the hardship and sorrow and hopelessness that has engulfed Nigeria since he arrived ... Nigerian are tired of Buharis actions , inactions , his lack of vision and his dishonesty toward everything that unifies Nigerians ... This video below shows the exact reason why Nigerians want Buhari out


https://www.youtube.com/watch?v=n1Y18fwd7Tw&feature=youtu.be

Wow,you guys are dense. So a country like Nigeria whose 200% dependent on oil revenues , who went into recession when the oil price dropped,and youre saying Buhari is responsible for Nigeria state.

I havent seen anyone prove life2017 wrong, its just BUHARI!BUHARI!BUHAR!
Illiterates!

Guys , look it up; Nigerias GDP is 70% oil. The oil price is responsible for the misery,not Buhari.

Don't vote for APC/PDP

Omeokachie:



You borrow pen to pass exam?

Is it pen you need to pass exam or knowledge?
BMCs are really smart people.

without pen, will you use your hand to write down the knowledge.

Buhari has proven that his knowledge about the economy surpass the past 16yrs of Pdp,
He was able to manage the little resources of $94b more than the wasted $1.1tr of Pdp.

PortHardcore:
Guys , look it up; Nigerias GDP is 70% oil. The oil price is responsible for the misery,not Buhari.

Don't vote for APC/PDP

vote for lefelendum

I'm surprised that some hustlers on nl are looking for ways to sell the image of the president, the old man has failed,no amount of excuses will make them work harder.they have expended the time that was supposed to use to get money and execute projects but they wasted it fighting saraki,now it is excuses,excuses,excuses.the time they had is gone and they should not bother telling lies because it will worsen their situation..