The presidential candidate of the Peoples Democratic Party (PDP) on Wednesday punctured the claim by the President Muhammadu Buhari-led federal government that oil price hovered at $100 per barrel in the 16 years of PDP’s rule, saying it was only sold for that price in two years of former President Goodluck Jonathan’s administration.

Besides, he said his former boss, President Olusegun Obasanjo inherited a crude oil price of $11 per barrel yet took Nigeria out of recession, cleared the country’s foreign debts and grew the economy by six percent.

He stated this while delivering the quarterly business lecture of Lagos Island Club where he spoke on “My vision to get Nigeria working again”, saying the current structure of the country is not working.

He said for Nigeria to develop into a united, prosperous and secure nation, it must adopt a new economic management model and a new political structure “that will cure all the federating units of their addiction to oil revenues”.

Atiku said the present administration came into power and took Nigeria to recession while drawing back the economic gains of the previous administrations under the PDP.

He said though the country is blessed with the human resources to make quantum leap from a third world nation to a developed country, the last four years had witnessed deterioration in all aspects of human development.

According to him, “unemployment has unfortunately been our only booming industry with over 13 million people joining the ranks of people without a job, which now totals 21 million.”

He said the actions and inactions of government had weakened investors’ confidence in Nigerian economy, noting that Ghana with a population of 13 million people attracted more Foreign Direct Investments (FDI).

“In order to reverse the trend, our economic policy would be more coherent, consistent and therefore more predictable by the business community. Nothing could be more threatening to investment flows than an environment that is full of policy flip-flops”, he said.

He reiterated that if elected, he would run a private sector-driven government towards enhancing the capacity of private businesses to create jobs.

According to him, unlike during Obasanjo’s presidency when there used to be regular meetings with Chief Executive Officers of major companies, nothing of such is presently happening.

He lamented that there is no council of privatization in place, saying it stopped during Jonathan’s administration.

“The AtikuPlan recognizes the private sector as the engine of growth of our economy. A strong, productive and pro-growth private sector is needed to create wealth, generate employment opportunities and help fight poverty.

“We pledge to improve government consultations with the private sector in policy design and policy implementation. We will work with the Organized Private Sector to identify ways to reduce the cost of borrowing, tackle incidences of multiple taxations and improve availability of foreign exchange for legitimate production input purchases”.

https://www.dailytrust.com.ng/crude-oil-not-sold-for-100-in-16-years-of-pdp-atiku.html

Buhari and his lifeless team always makes the assertion that crude oil price was at $100 for 19 years. The fact is that you can't compare the obj/atiku administration and this present one.. OBJ administration had all the indices against them..
-price of oil was very low
- they were the first democratic elected president
- huge world debt
- worse infrastructure
-low external foreign Reserves
But they performed excellently with the little resources at their disposal

The undisputable fact is, a whole lot of monies accrued to the PDP led Federal Government between 1999 and 2015..... If such monies were made available to Muhammadu Buhari, then he would have done way better than this...... But in PDP's case, the country ain't really got nothing to show for all these huge monies they got

Cant wait for February to come and gone......







Tired of Atiku say this, Buhari say that...................










Cant wait for BBN 2019 to start



Big Brother Nigeria 2019.....




Like for BBN and Share for Atiku/Buhari

ALL LIARS WILL GO TO HELL FIRE!!
Atiku, the father of LIES!!!

Same person that lied about calling a slain soldiers wife to score cheap political campaign points.

Same criminal that told us his parents died when he was a young boy, and here is a pic of him and his mother after he started spraying his spermatozoam EVERYWHERE as an adult!!

A LIAR CAN NEVER CHANGE!
Mofo CRIMINAL!!

Lol. Blame game even before being elected.

A thief always a thief. We can't reward thievery with Public office.

Thief

How much did Pdp save for that 2 years. If no savings, any projects to back it up?

Ghana has only 13m people but almost world class infrastructures while Lagos with over 21m people and a very robust economy only has ghetto amenities.

And Tinubu is still bent on choosing who will rule over it again.

If Ambode gets impeached, Lagos treasury will be opened like a dam for it's campaign purpose.

100s of Billions will flow out and Lagos might find itself borrowing like Osun.

I pity our mumu APC followers. Over mumu dey worry them.

Oil was never high at 100 dollars during the PDP regime Except in 2008 and 2011 to 2014.

What draws many people's ire is the fact that there werent enough savings during the time of the previous government, which was PDP.

Having said that, the real problem with the Nigerian economy is our over reliance on crude oil, and our sharing the money mentality. Things which I don't see PDP, or APC changing because it means years of harsher austerity measures which don't win votes

check my signature for quality online learning at a giveaway price.

post=75277835:
ALL LIARS WILL GO TO HELL FIRE!!

Atiku, the father of lies!!!

Close your mouth and read before talking trash.



You will go back to your suya business after February 16. . Lazy boy.

Yes we know!

Under pdp we had the best team who managed to save even when crude oil price was almost nothing (massive looting recorded but we had some cash in the coffeer)

Then suddenly there came a clueless one who allowed wastage during the highest shot of crude price ( heavy looting was monitored and nothing to show forth : embarrassing)

Yaaaawwwnnn to this pained junior wailer.
Wait for your senior wailers to comment kiddo.....

Meanwhile, go carry your gala carton and enter street hustle, your mates don dey traffic already, Lazy tin!

Pekele007:


Close your mouth and read before talking trash.
You will go back to your suya business after February 16. . Lazy boy.

helinues:
How much did Pdp save for that 2 years. If no savings, any projects to back it up?

How much did your dullard Buhari meet in the external reserve?



Bmcs are something else aswear

PDP grew our economy in 1999 from less than $200bn to $500bn
PDP grew the reserve from $4bn to about $50bn
PDP increased the minimum wage from less than N3k to N18k a whopping 600% increase.NLC is asking for about 60% increase and APC is crying that it is impossible.
PDP wiped off our foreign debt incurred by military guys like IBB, GMB and Abacha .
PDP introduced GSM technology by connecting over 100m while military guys like GMB and Abacha funded NITEL to only produce 400k lines.
PDP recapitalized banks and allowed over 50m Nigerians access to bank and banking products unlike GMB era
PDP didnt make Naija look like Dubai in 16 yrs, but APC must match these achievement by 25% since they have been in power by 4yrs. Blame cant do these but actions!

And if so?

Pekele007:
Only brainless illiterates and Buhari media cows believed that oil was sold at $100 for 16 years of course.



You can't support Buhari without sounding stupid aswear.

You were probably too young or not alive
Sold over 100$ for complete 4 years

Pekele007:


What has Buhari the dullard done with the little he got? What was he able to do with the loans and debts he accrued


PDP didn't achieve anything yet you are still breathing and using the internet. You need to go back to school asap.

Bubu's problems stem from the fact that his government has not faced the reality that Nigeria is a resource dependent poor nation that needs it's economy to be productive via industry and innovation.

Taking loans is a symptom of our resources dependency. When prices go down, it is either we take loans, or salaries don't get paid. For years

Source: https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/

No need for argument.
PDP continue.

anjigirl:
You were probably too young or not alive

Very good response to that tin!
You know kids online when you see them.
Kill them with facts Anjigirl!

Apc has borrowed twice the amount pdp borrowed for 16 years with nothing to show for it

Who will pay for all these borrowed funds....certainly not buharis children

But your future generation

His supporters do not understand the damage a bad economic policy can bring...leadership is not all about infrastructure...good economy first...before niger bridge!

post=75277892:
Yaaaawwwnnn to this pained junior wailer.
Wait for your senior wailers to comment kiddo.....

Meanwhile, go carry your gala carton and enter street hustle, your mates don dey traffic already, Lazy tin!

So people who enter street to hustle are lazy
Well, it's a proven fact that most Buhari supporters are mentally lazy though.



You can't support Buhari without sounding stupid -----Oshiomole

BigIyanga:
PDP grew our economy in 1999 from less than $200bn to $500bn
PDP grew the reserve from $4bn to about $50bn
PDP increased the minimum wage from less than N3k to N18k a whopping 600% increase.NLC is asking for about 60% increase and APC is crying that it is impossible.
PDP wiped off our foreign debt incurred by military guys like IBB, GMB and Abacha .
PDP introduced GSM technology by connecting over 100m while military guys like GMB and Abacha funded NITEL to only produce 400k lines.
PDP recapitalized banks and allowed over 50m Nigerians access to bank and banking products unlike GMB era
PDP didnt make Naija look like Dubai in 16 yrs, but APC must match these achievement by 25% since they have been in power by 4yrs. Blame cant do these but actions!

PDP knocked down the foreign reserves from 60bn in 2010 to 32 bn in 2015 with oil above 90 USD from 2010 to 14.

APC raised the reserve from 28bn to 40 bn with oil prices below 75 USD in 3 years.

The economy has not been growing because we rely on oil, not necessarily because of what APC did or did not do. Where APC erred is that they have zero idea on how to get us off resource dependency

pinkcottoncandy:
Apc has borrowed twice the amount pdp borrowed for 16 years with nothing to show for it

Who will pay for all these borrowed funds....certainly not buharis children

But your future generation

His supporters do not understand the damage a bad economic policy can bring...leadership is not all about infrastructure...good economy first...before niger bridge!

APC. Is borrowing because since they took over, oil price has been below the level we require it to be not to borrow.

We need oil to be at least 140 USd per barrel before we can run a budget with zero borrowing.Under APC, oil has been below 75 USD and even as low as 30 USD.

(That is why PDP borrowed from 2007 to 14 because oil, being high, was not high enough)

By January 2015, Okonjo iweala was predicting hard times ahead whoever won the election.

I agree APC has no ideas on how to fix our economy, however, if we did not borrow, our economy would have been in even worse shape than it is.

That is the price of living in an oil dependent economy. You borrow and keep on borrowing when the price drops. And you pay heavily when the price rises.

Pekele007:


So people who enter street to hustle are lazy
Well, it's a proven fact that most Buhari supporters are mentally lazy though.

You can't support Buhari without sounding stupid -----Oshiomole

.....says someone attacking people that hustle legitimately!
You can NEVER support PDP without being a chronic liar and a criminal like their Atiku who can change what they say Just in 30 seconds!!
What a lout!

Hmm

True