Kelvin30286063:
The only face I see in this is Jonathan who agreed to sign a contract that will supply a company with oil for 20 years!
You promised them oil for 20 years! Are you the maker of the oil! It's like promising rain continously for 20 years. It's a natural resources! Why promise what you can't make!

Na wao ... some of you are just so daft and undeserving of a response.
First, did you read the story?
Where did you read that Jonathan signed the contract?

alezzy13:


Shouldn't your darling GEJ be called to explain how as second in command such a deal of such humongous amount was passed?

And pls spare he was 'held hostage by cabal' BS

unfortunately the project started under mr jonathan's boss(late president yar'adua) when jonathan was treated like shit) even when he was in power the cabals disrespected him and treated him with little or no respect. as a gentle man who's not power drunk handed over to our over sabi presidente, (mr know all) he was busy tryin 2 fulanise Nigeria, when he had good option to settle this debt as government is a contineous business. since he's watin for who to blame he allowed Nigeria to plunge to unnecessary debt.

chozzy:



Na wao ... some of you are just so daft and undeserving of a response.
First, did you read the story?
Where did you read that Jonathan signed the contract?

I don't have to read the story, I read the story in 2015 when it first came out. I know the details of the contract that was signed with P&ID. That Nigeria government will supply them with crude oil for a period of 20 years. If you need a copy of the agreement, I can send it to your email.
The reason why we are here today is because Nigeria went back on the agreement. They stopped serving P&ID oil since 2013 even after collecting millions of dollars upfront.
Every time I see this story again, I feel like the government of this country is chasing yahoo boys when they should be looking inward. It was pure scam.
And please the next time you want to use the word daft on people, look at the handle very well, you can wake up tomorrow and open your eyes in a police cell.

I pray make the debt enter $500bn sef. Make oyinbo garnishee all our money. Shebi una nor wan get sense.
It was all going to be embezzled by corrupt politicians and their children anyway.

phineas:



GEJ salvage attempt was unpatriotic. That said GEJ was an economic buffon.This is clear and will forever be clear to all generations.The comparative indices of his reign to other reigns in Nigeria and globally will forever judge him. That is a key part of legacy. He is the example of how leaders must keep an eye on a Nations treasury in their reign

To be precise. GEJ agreed to that deal when oil was at an all time high ever! But staff in Nigeria were being Owed salaries on a massive scale with no bail out, our foreign reserve, and ECF were massively depleted and at the lowest recorded ever.Nigeria did not have a job to spare. the question is why did he sign the agreement.

Do not quote GEJ here

we understand your hate for GEJ but thats not the bone of contention. the write up was clear on the genesis of the contract, Umaru Yar Adua. As we have today also, Some goats under him toom advantage of his predicament by sidelining his Vice. Infact, we are all aware of the fact that they didnt even want him to assume his principals position upon his inavailability. Thank God for doctrine of necessity. GEJ prevailed and he enquired about the contract. They already messed it up. He changed some key players and knowing they wouldnt win in the courts, he arrived at an 850million agreement. and if thats not plain to you, you can keep hating o.

emeijeh:
And so?!
Is this the reason Buhari developed 2 extra legs "in Japan" ?


[img]http:///media/12-24-2016/E1c7QP.gif[/img]

You wicked die...

maasoap:


You are the one who we're supposed to be asking if you're mad or something. Why didn't Jonathan pay the settlement since he was the one who signed the settlement agreement? Wasn't there money? If you were Buhari, would you just start paying 850 million dollars just like that? Your hatred for Buhari is not allowing you to think straight

U are still proving further that there is something wrong wit u. U are still saying it's better to pay 9.6 billion dollars than to pay 850 million dollars.

Ur blinded followership for buhari isn't allowing u to think straight.

Forcefully use ur head if ur head is the one using u

obailala:


Just before GEJ handed over power to PMB, does anyone need any special tonic to remember that oil price had allready dropped rapidly, and was still significantly dropping?

The nation's income had dwindled so bad that FG had to borrow to pay salaries for the first time in decades,
the foreign reserve was dropping rapidly (it had dropped by up to $10bn within 6 months to a critically low value less than $30bn), Naira value was falling rapidly too, within that same period it had dropped from N160 to N220/$.

Of course, in the last 3 quarters prior to handover, the effects of the above were already clearly evident in the gdp growth rate which had constantly dropped from highs of between 6-7% to about 2% as at the time of handover. Meanwhile all of the above happened only for a drop in oil price from ~$100 to~$60; but after handover oil price progressively dropped further to even less than $30.

Only a person who is either genuinely unaware of the above events, or who is aware but deliberately chooses to feign ignorance of the above event, would claim that all was rosy at the time of handover. Recession doesnt happen in a day; people who understood how the economy works such as NOI already warned Nigerians to tighten up their belts and brace for impact as early as in December 2014. No one needs a reminder that the primary factor (oil price) which led to the above events became even much worse after handover (continued dropping from ~$60 at handover to less than $30 a few months later)

On the above topic, at a time when a major forex crisis was imminent, it would have been very stupid of any president to pay that $850million out of the country under any guise. GEJ wasnt stupid, that's why he didnt pay that money before exiting.

""gdp growth rate which had constantly dropped from highs of between 6-7% to about 2%""


Bloody Afonja liar...

Bring proof of this

0gaGist:



Source; https://punchng.com/faces-behind-deal-that-landed-nigeria-in-9-6bn-mess/amp/

How come Buhari that was quick to commission Abuja-Kaduna rail project didn't pay attention to this?
Why are they quick to claim glory but point accusing fingers when the trend changed?

If the present administration felt that the amount was too much why don't they renegotiate and bring it down? Useless government blaming the past for their failure than looking at the future for progress and good governance. This government have just intentionally sold Nigeria and maybe wants a part of the deal for themselves. Period.

phineas:


So why did he sign the agreement? Where was the money supposed to come from.

I believe the sensible thing to do was to first agree to the lower settlement, then keep negotiating forever. As far as I'm concerned, it would be stupid of Nigeria to pay that money, irrespective of the indiscretion of whoever signed the original dubious contract.

alezzy13:


Shouldn't your darling GEJ be called to explain how as second in command such a deal of such humongous amount was passed?

And pls spare he was 'held hostage by cabal' BS

so you don't know what and how cabals hijack the govt when yaradua absence in sick bed. jinathan was treated the same way osibanjo is been treated now by Abba kyari and co. northern ruling continues because the south continue to fight themselves. if u know u know

Where are the Yoruba elders??

maasoap:


Aye nse yin sir. And you equally have eye problem. Chronic hater

Why would Jonathan who was part of the administration that signed the contract, a man who negotiated the settlement and understood the implications of the settlement agreement transfer the liability to the incoming administration that would be naturally sceptical about the original deal and the final settlement agreement? Did that mean there was no money to settle the agreement he entered with the firm?
The same way he organised the National Conference and had final reports on his table for many months before leaving office but refuse to sign the reports for implementation. But you, his foolish followers started shouting at Buhari to implement it.

Ignorance o! National conference resolutions were mainly constitutional issues o! It's not something a president could just sign and implement! The NASS must review and pass into law for implementation and you know what our NASS can be like once it's something that will touch on their ethnic interests.

Negotiation was reached early 2015. He handed over May 2015. What stopped Buhari from further reviewing and negotiating or at least set up a payment plan that would not be too heavy on Nigeria?

He can come and claim construction of rail that he did not facilitate in any way but cannot, in the spirit of continuity, pay off existing debt abi?
All these ones he is signing and borrowing now, I hope you will call him to pay 10-20 years down the line?

PrecisionFx:


""gdp growth rate which had constantly dropped from highs of between 6-7% to about 2%""

Bloody Afonja liar...

Bring proof of this

Like I said before, only a person who is either genuinely ignorant of events, or one who is aware but deliberately chooses to play dumb (for the sake of politics), would claim that all was rosy at the time of handover. Recession doesn't happen in a day, it builds up! The chart below is the trend of Nigeria's GDP growth rate in the last 5 years (2014 - 2019). Nigeria is an oil dependent country and oil price has the greatest impact on economic activity.

The chart shows how the GDP rate began dropping from mid-2014 when oil prices started dropping; as at May 2015, the rate was 2.4%. Nigeria hit recession officially in 2016 (when oil price bottomed at $28) due to a combination of bad government policies and of course, the low income from oil. But I wouldn't expect one who has access to the internet but prefers to get info only from beer parlour analysis and Radio Biafra facebook page to know any of this. Handover was at Q2 2015. I'm sure even with this info, you will still return with the very same argument.

https://www.ceicdata.com/en/indicator/nigeria/real-gdp-growth
https://tradingeconomics.com/nigeria/gdp-growth-annual
https://nigerianstat.gov.ng/elibrary

Meanwhile, only people with poorly developed brains jump into silly tribal banters when simple issues of facts and figures that can easily be verified are discussed. I believe this doesn't describe you, so I simply crossed off the foolishness from you above comment.

obailala:

I shake my head and laugh whenever I see this clever by half spinned up analogy being peddled about. He didnt pay to avoid suspicion indeed!

A president who had no problem or "fear of suspicion" when pulling off hundreds of millions of dollars illegally from the CBN to execute elections, is the same president whom some persons are now claiming deliberately did not pay a legally recognised judgement debt becasue of "fear of suspicion"?

GEJ deliberately did not pay that money, but not because of the above poorly fabricated political excuse. The reason GEJ did not pay was because GEJ wasn't stupid; for a country facing an imminent forex crisis, dwindled foreign reserves, progressively dropping oil prices/income and on the brink of possible recession, only a stupid leader would dole out $850million to ship outside the shores of his country at that time for a contract not even executed.

freeze001:


Beyond the questionable signing of the deal which, take it or leave it, Jonathan had no influence over, you can attest to the actions the GEJ government took when he became substantive president. He reviewed it, found it unsuitable for Nigeria and sought to revoke it. It went to arbitration, a negotiated sum of $850 million was arrived at early 2015. To avoid unnecessary suspicion that he'd diverted almost $1 billion for elections, he left it for his successor even after elections were over and he conceded. Is Jonathan also supposed to take responsibility for the failure of Buhari and crew to quickly take action on these issues? Is he the one that asked Buhari not to appoint intelligent ministers in good time since he is obviously too slow to read and decipher/interpret his handover notes? Was it Jonathan that asked him to foolishly remain silent without reaching out to the company until they had to go back and get a substantive judgment against Nigeria inclusive of accrued interest?

Why didn't you answer the questions asked?

Where is Yemi Osibanjo there If a whole Vice President with a SAN title could not go through such documents since the President himself could not read and interprete the agreement till date, which means we don't have a focus government. Let them continue to blame PDP administrations forgotten that they promised to come and right the wrong.

mushystuff:

Why didn't you answer the questions asked?

Firstly, the question you refer to wasn't directed at me, and secondly, it's my prerogative to choose what I want to answer. I didn't even read the so called question cos whilst I was breezing through the comment, I came across an erroneous assertion which caught my attention, i.e. "fear of suspicion" being the reason why GEJ didn't clear off the debt before leaving office. My comment if you read it properly was specifically to correct the flaw in that assertion.

Meanwhile I'm not here to pass political blame back and forth, elections are long over. In my comment, I blamed absolutely no one for the debt mess so leave me out of your political argument.

obailala:
Like I said before, only a person who is either genuinely ignorant of events, or one who is aware but deliberately chooses to play dumb (for the sake of politics), would claim that all was rosy at the time of handover. Recession doesn't happen in a day, it builds up! The chart below is the trend of Nigeria's GDP growth rate in the last 5 years (2014 - 2019). Nigeria is an oil dependent country and oil price has the greatest impact on economic activity.

The chart shows how the GDP rate began dropping from mid-2014 when oil prices started dropping; as at May 2015, the rate was 2.4%. Nigeria hit recession officially in 2016 (when oil price bottomed at $28) due to a combination of bad government policies and of course, the low income from oil. But I wouldn't expect one who has access to the internet but prefers to get info only from beer parlour analysis and Radio Biafra facebook page to know any of this. Handover was at Q2 2015. I'm sure even with this info, you will still return with the very same argument.

https://www.ceicdata.com/en/indicator/nigeria/real-gdp-growth
https://tradingeconomics.com/nigeria/gdp-growth-annual
https://nigerianstat.gov.ng/elibrary

Meanwhile, only people with poorly developed brains jump into silly tribal banters when simple issues of facts and figures that can easily be verified are discussed. I believe this doesn't describe you, so I simply crossed off the foolishness from you above comment.

Afonja liar, bring proof from Nigerian newspapers that Nigerian GDP was ever 2% before GEJ handed over to bubari.

Don't ever send me any useless information from any of those idiotic blogs n websites. Show me vanguard, punch n premium times.

baratech:



Keyword you used: 'second in command'

The foolish man is trying to just blame Jonathan...he should have also mentioned osibanjo

PrecisionFx:



Afonja liar, bring proof from Nigerian newspapers that Nigerian GDP was ever 2% before GEJ handed over to bubari.

Don't ever send me any useless information from any of those idiotic blogs n websites. Show me vanguard, punch n premium times.

I see you struggling to preserve your precious ignorance. I gave you a link to the E-Library of the National Bureau of Statistics which is the official repository for such statistical data and a link from TradingEconomics which is a global unbiased repository of such info but you call them blogs and prefer me to give you Vanguard and IgbereTv news? See upside down logic.. Lol... Why didnt you ask for Ikebe Super magazine too?

Okay here's a direct link again from NBS website, and a link from you darling Vanguard; extract from the NBS report even shows the decline in GDP rate prior to handover much more clearly. I know I'm torturing you with these because your type prefers ignorance just like BokoHaram!

http://nigerianstat.gov.ng/download/398
https://www.vanguardngr.com/2015/08/gdp-growth-declined-by-1-61-in-q2-2015-nbs/

Why did Ebele not go out Yarduas agreement so Buhari don’t have to handle his failure ?!

DIKEnaWAR:
The only face that should be up there is that of Buhari who refused to honour the initial agreement and pay pittance(compared to what we'd pay now) He did this in 1984 to the Lagos rail project started by Pa Jakande and he has repeated it again.


In a sane society, Buhari should have been confined to the bush with 3 cows(he can't manage more than 3) and a stick. A man who does everything with sentiment, instead of logic will fail, always.

obailala:
I see you struggling to preserve your precious ignorance. I gave you a link to the E-Library of the National Bureau of Statistics which is the official repository for such statistical data and a link from TradingEconomics which is a global unbiased repository of such info but you call them blogs and prefer me to give you Vanguard and IgbereTv news? See upside down logic.. Lol... Why didnt you ask for Ikebe Super magazine too?

Okay here's a direct link again from NBS website, and a link from you darling Vanguard; extract from the NBS report even shows the decline in GDP rate prior to handover much more clearly. I know I'm torturing you with these because your type prefers ignorance just like BokoHaram!

http://nigerianstat.gov.ng/download/398
https://www.vanguardngr.com/2015/08/gdp-growth-declined-by-1-61-in-q2-2015-nbs/

See this mufu, u are even shooting urself on the foot without knowing it. Ur charts points that Nigerians GDP was over 4.0% in the 1st quarter of 2015 (in March, just before GEJ handed over 2 months later).

The writeup u uploaded also states that Nigeria's GDP percentage in 1st quarter of 2015 was over 4.0.

Reread what u uploaded

Recession came in the first quarter of 2016 stop being clever by half.Anyway isn't this a case of pennywise pound foolish now.From $850m to $9.6m.Your type will make excuse for Buhari even if he is guilty of raping your wife.

agabusta:


So if you are just sworn in as president, the first thing you'll do is to pay 800 million dollars for a project that was never executed.

800 million dollars! Out of the economy of a country in recession. Oga, think deeply.

Nigeria is not paying that silly fine for one useless abstract dagbo project put together by internal saboteurs and their willing foreign counterparts.

No need to be talking conclusively. The whole thing will be renegotiated.

aolawale025:
What an irony. The people that neglected to settle are those probing.

. Don't mind them, they take Nigerians as fools

PrecisionFx:



See this mufu, u are even shooting urself on the foot without knowing it. Ur charts points that Nigerians GDP was over 4.0% in the 1st quarter of 2015 (in March, just before GEJ handed over 2 months later).

The writeup u uploaded also states that Nigeria's GDP percentage in 1st quarter of 2015 was over 4.0.

Reread what u uploaded

1st quarter?... Who is talking of Q1?... Did GEJ handover in March 2015?... Mumu!... I definitely knew you were going to return with some mumu abi na mufu argument. Even an infant or blind Bartimeaus would have clearly seen the downward trend which I explained, but like I said before, the hardest man to wake is the one feigning sleep, the hardest to teach is the one who is deliberately refusing to learn. I know he will still return again with another mumu argument.

aolawale025:
What an irony. The people that neglected to settle are those probing.

You wanted a new government in recession to just settle a foreign company $860 million for a contract they didn’t execute? Why are you igbos so shameless?

247Dior:
so you mean your buhari was right to discontinue the deal knowing that we're going to be in more problems?

Keep quiet, is he paying into his own personal account?

Oga this your report is neither here nor there

baratech:



Keyword you used: 'second in command'

Sometimes I wonder if you Gej fanatics think at all,so he's always blameless and faultless in every mistake that happened while he was in the helm of affairs,but you're quick to attack and condemn the present government even for past mistakes committed by others jeez no wonder this country is regressing

Jeezuzpick:


Isn't that what happened?

Some of us can remember o.

Maybe you have forgotten how documents were being ferried to Saudi Arabia for signature!

Well, we haven't.

How sure are you that the entity you're quoting wasn't a toddler back then?