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Re: Pessimists Versus Atiku: History Can Change by bajosky: 7:57am On Mar 10, 2019 |
dukeprince50:YOUR FACTS on Crude oil prices ARE NOT ACCURATE (LIES) The average oil price in 1999 when President Olusegun Obasanjo returned as Nigeria’s civilian president was $17.80 per barrel. Our official foreign reserves that year amounted to just $5.4bn. GDP size was $50.48bn which at then exchange rate of N92.69/$ was only N4.6trillion. Throughout Obasanjo’s first term, the highest oil price was $26.10 in 2000, with slight declines to $24.50 and $25.40 in 2001 and 2002. In spite of relatively low oil prices, Obasanjo grew FX reserves to over $10bn in 2001 before falling to around $7.5bn in 2002 and 2003. The exchange rate depreciated by 30% by 2002 falling to N120.97. On the policy front, the main economic achievement of Obasanjo’s first term was telecommunications sector deregulation which transformed Nigeria’s telephony and later internet/data sectors. No rational person will deny Obasanjo the credit for the over 150 million active lines in Nigeria today. He also established the EFCC and ICPC. Obasanjo’s main political achievements in his first term were stabilizing our democracy and re-establishing Nigeria in the global community. Obasanjo recorded more significant economic achievements in his second term, enabled by the arrival of Ngozi Okonjo-Iweala, Charles Soludo, Fola Adeola and others into economic positions. The most important milestones were pension reforms, banking consolidation and the revolutionary Paris Club Debt Write-off. Okonjo-Iweala introduced the oil price rule that enabled the accumulation of “excess crude” savings in addition to our foreign reserves. The “Excess Crude Account” (ECA) starting from nil in 2003 was $24.36bn by December 2006 while foreign reserves were over $42billion totaling over $66billion of sovereign savings. In 2003 average oil prices were still below $30 per barrel and GDP size was only $76.64! It was only in 2006 and 2007 that oil crossed $60 per barrel. The effect of Obasanjo’s reform cabinet on FDI manifested for the first time in 2005 (not surprisingly AFTER (!) the Paris Club Debt Write-off as foreign investment jumped to $5.1bn and $7.7bn in 2005 and 2006 respectively N/B All other achievements of APC listed below by u were blue print initiatives of Pdp led Gej govt (ie, railway, agriculture & diversification ) N/B the best Minister in Johnathan Cabinet was the Agric Minister Akinwumi Adesina whom APC drafted as Nigerian representative and President of African Development bank (AfDB) |
Re: Pessimists Versus Atiku: History Can Change by Nobody: 9:21am On Mar 10, 2019 |
Chikpat: What is shameful is seeing people uphold corruption when it favors them. |
Re: Pessimists Versus Atiku: History Can Change by Nobody: 9:22am On Mar 10, 2019 |
Chikpat: How do you know Buhari is better than Atiku? |
Re: Pessimists Versus Atiku: History Can Change by Chikpat(m): 10:26am On Mar 10, 2019 |
soulpeppersoup: That is exactly why it is a shame they want Atiku to be President of Nigeria |
Re: Pessimists Versus Atiku: History Can Change by linusbnn(m): 11:00am On Mar 10, 2019 |
Chikpat: You are insane. |
Re: Pessimists Versus Atiku: History Can Change by Chikpat(m): 11:26am On Mar 10, 2019 |
linusbnn:data is cheap.
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Re: Pessimists Versus Atiku: History Can Change by citizenY(m): 12:45pm On Mar 10, 2019 |
Lakside1955: Don't bother to reply. The figures for and against , speak for themselves. Anybody who is not happy should join the race. Even those who cannot promise to stop taking sneak peeks at ladies will make such accusations. |
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