Austen Oniwon, group managing director, Nigerian National Petroleum Corporation (NNPC), finally admitted that the Corporation was broke, laying to rest the denials surrounding the dire situation of the state-owned oil firm’s financials which was first brought to the limelight in 2010 by ex-minister of state for finance, Remi Babalola.  Oniwon told a gathering of top oil and gas executives at the on-going Oil and Gas Conference and Exhibition in Abuja that the NNPC balance sheet was in the red.  “We have to suspend increase in remuneration. The account of the organisation is in the negative; corporate failure is imminent unless urgent transformation is carried out” Oniwon told the stunned gathering. Speaking in the same vein, Tim Okon of the Corporation’s corporate planning department said the level of losses recorded by the Corporation in the last few years had hindered its development.


With this do you all think we should still have a PDP Govt? Since Babalola left, the finance ministry has not been impressive in performance. He only, picks issues on some of the error in the banking reforms but bros Aganga could not even stand up to Senators,  Has Babalola not been vindicated? Wahala dey?

Maybe they gave all their money to Jega

And our dear President is busy leaking the backside of IBB.

Babalola already stated the obvious almost 1 year ago. It has taken the clowns in government about 12 months to realize they are broke even when one of the few sane ones amongst them had warned them.

And what did Babalola get from GEJ for being truthful, he got the boot ofcourse. We sure have a president who's past time is to sack truthful technocrats and replace them with morons.

Nigeria stand up and vote out PDP.

[size=14pt]
IT REMAINS FOR MR GOODLUCK TO TELL US THE INEVITABLE TRUTH, THAT NIGERIA IS ALSO BROKE. OR HOW ELSE CAN HE EXPLAIN HIS BELOW FAILURE PERFORMANCE. -1.5/100[/size]

KnowAll:

[size=14pt]
IT REMAINS FOR MR GOODLUCK TO TELL US THE INEVITABLE TRUTH, THAT NIGERIA IS ALSO BROKE. OR HOW ELSE CAN HE EXPLAIN HIS[b] BELOW FAILURE PERFORMANCE[/b]. -1.5/100[/size]

Is that so !

O ma se o!

And why are Nigerians in a hurry to put the blame on the presidency? Babalola came out with an allegation he could not substantiate when the chips were down and as far as I'm concerned, this admission does not vindicate but indict him-at least 4 cowardice, afterall he had the opportunity to come out and say what he knew instead he allowed himself to be intimidated and forced out of govt.
The Finance Minister rightly commisioned an independent audit being led by I think Akintola WilliamsDeloitte instead of making half informed statements like Babalola and with the report due next week, Oniwon is just trying to preempt the report and gather some credibility for himself.
Those of u queuing up to criticize the govt and Aganga are only displaying your naivety as the real credit ought to go to those that commisioned an independent audit instead of making uninformed statements ie Aganga and the Gej government.
Folks, Its not really hard to see Gej's great strides in our nation, just try using your brains a little. Abeg una.

wesley80:

And why are Nigerians in a hurry to put the blame on the presidency? Babalola came out with an allegation he could not substantiate when the chips were down and as far as I'm concerned, this admission does not vindicate but indict him-at least 4 cowardice, afterall he had the opportunity to come out and say what he knew instead he allowed himself to be intimidated and forced out of govt.
  The Finance Minister rightly commisioned an independent audit being led by I think Akintola WilliamsDeloitte instead of making half informed statements like Babalola and with the report due next week, Oniwon is just trying to preempt the report and gather some credibility for himself.
Those of u queuing up to criticize the govt and Aganga are only displaying your naivety as the real credit ought to go to those that commisioned an independent audit instead of making uninformed statements ie Aganga and the Gej government.
Folks, Its not really hard to see Gej's great strides in our nation, just try using your brains a little. Abeg una.

Eeewwoooo! See how an average Nigerian GEJ supporter thinks. O ma se o! Those who laboured hard to send you to school may have wasted their sweat and hard earned money afterall.
Common sense ain't common sha. How I wan blame you sef? Afterall you are probably a product of the decayed educational system which PDP and GEJ have continued to trample upon in the last 12 years.

^^My friend stop ranting incoherently.

wesley80:

And why are Nigerians in a hurry to put the blame on the presidency? Babalola came out with an allegation he could not substantiate when the chips were down and as far as I'm concerned, this admission does not vindicate but indict him-at least 4 cowardice, afterall he had the opportunity to come out and say what he knew instead he allowed himself to be intimidated and forced out of govt.
The Finance Minister rightly commisioned an independent audit being led by I think Akintola WilliamsDeloitte instead of making half informed statements like Babalola and with the report due next week, Oniwon is just trying to preempt the report and gather some credibility for himself.
Those of u queuing up to criticize the govt and Aganga are only displaying your naivety as the real credit ought to go to those that commisioned an independent audit instead of making uninformed statements ie Aganga and the Gej government.
Folks, Its not really hard to see Gej's great strides in our nation, just try using your brains a little. Abeg una.

Stupid post!. .the same audit firms that claimed our banks were ok all these years, my friend pls shut up!
Do you even understand how government works. For Babalola to have the boldness to come out then to talk that cost him his job is rare in a Nigerian Government.

I cant blame you, we wonder why Nigeria is not moving forward, its because of people like you

rebranded:

silly post!. .the same audit firms that claimed our banks were ok all these years, my friend pls shut up!
Do you even understand how government works. For Babalola to have the boldness to come out then to talk that cost him his job is rare in a Nigerian Government.

I cant blame you, we wonder why Nigeria is not moving forward, its because of people like you

Thank you jare.

Useless nation, the nation is also broke, senate just approved $1.3bn loan for the useless govt

blink182:

Useless nation, the nation is also broke, senate just approved $1.3bn loan for the useless govt

Na today?
GEJ has been mortgaging the future of the Nation.

@ 9jaman,

Ma last statement was aimed at that bovine brained buffoon called Wesley80 who was ranting incoherently.

Ibime:

@ 9jaman,

Ma last statement was aimed at that bovine brained buffoon called Wesley80 who was ranting incoherently.

My apologies. I'll take it down right away!

Now that they are all broke let me see how stealing will be financed. . .what the hell i'm I saying. . .bonds will be issued. . .please people we need BB seriously. . .lets have someone that isn't a thief rule us for once. If he should win, before he's sworn in Nigeria will purge itself of corruption automatically. . .I like Ribadu but he's also a no good thief

9ijaMan:

Eeewwoooo! See how an average Nigerian GEJ supporter thinks. O ma se o! Those who laboured hard to send you to school may have wasted their sweat and hard earned money afterall.
Common sense ain't common sha. How I wan blame you sef? Afterall you are probably a product of the decayed educational system which PDP and GEJ have continued to trample upon in the last 12 years.

rebranded:

silly post!. .the same audit firms that claimed our banks were ok all these years, my friend pls shut up!
Do you even understand how government works. For Babalola to have the boldness to come out then to talk that cost him his job is rare in a Nigerian Government.

I cant blame you, we wonder why Nigeria is not moving forward, its because of people like you

Ibime:

@ 9jaman,

Ma last statement was aimed at that bovine brained buffoon called Wesley80 who was ranting incoherently.

This what i get for having an opinion contrary to yours? Problem is too many eediots think criticizing the president makes them sound smart. I really do not blame u lot, its understandable if u're jumping at an opportunity to be thot smart but maybe you ought to try harder cos your folly stinks a mile ahead of u? We've got just too many lunatics on the loose.

wesley80:

This what i get for having an opinion contrary to yours? Problem is too many eediots think criticizing the president makes them sound smart. I really do not blame u lot, its understandable if u're jumping at an opportunity to be thot smart but maybe you ought to try harder cos your folly stinks a mile ahead of u? We've got just too many lunatics on the loose.

Those comments are not just what you get, you actually deserve every single word. You can keep sulking for all I care, it's you who'll suffer the misrule more.

Where is Dora Akunliyi, who was running her mouth some months ago. She was just a few words away from swearing that NNPC was liquid, viable and profitable. There is nothing worse than clueless men, leading others.
Aganga has destroyed d little reputation he has.

wesley80:

This what i get for having an opinion contrary to yours? Problem is too many eediots think criticizing the president makes them sound smart. I really do not blame u lot, its understandable if u're jumping at an opportunity to be thot smart but maybe you ought to try harder cos your folly stinks a mile ahead of u? We've got just too many lunatics on the loose.

If you weren't a troglodyte, you would recognise that you dont even know your own mind, and as a result your attempts to defend GEJ end up as incoherent gibberish.


How do you explain this nonsense you wrote:

wesley80:

Babalola came out with an allegation he could not substantiate when the chips were down and as far as I'm concerned, this admission does not vindicate but indict him-at least 4 cowardice, afterall he had the opportunity to come out and say what he knew instead he allowed himself to be intimidated and forced out of govt.

FYI, Babalola did come out to say NNPC was broke and thats why he was forced out of office.

So it is Babalola's fault for resigning from a hostile Govt? Or is it GEJ's fault for forcing him out for saying the truth?

I dont know how people think in reverse these days.

wesley80:

Folks, Its not really hard to see Gej's great strides in our nation, just try using your brains a little. Abeg una.

The fact you are from the South-South does not give YOU reason to think like a monkey. I dont need to use my brain to see that someone who wasted/pilfered $30bn from ECA and caused us another $30bln to defend the Naira is a incompetent buffoon.

Neither do I need brains to see that any guy who would selfishly return all Governors to their seat, even murderers and despicable looters is a selfish punk who does not care about the people in those states, but about his own inordinate ambition.

I also don't need brains to see that anyone who claims that the 1999 constitution is the best constitution and doesnt need to be changed is an enemy of our people (Ijaw and ND). Did all our agitations over the past 2 decades boil down to this eediot's ambition, or was it about forcing constitutional change that would give our people land rights and access to resources?

Finally, I dont need brains to see that anyone who surrounds himself with Anenih's, IBB's and such is no good for this country.

Can we exchange NNPC's broke account for my own? I will be glad to be a patriotic Nigeria

Hey guys, NNPC is broke, but we are steadily making PROGRESS, (LOL), and things will get better one day! WTF!

wesley80:

And why are Nigerians in a hurry to put the blame on the presidency? Babalola came out with an allegation he could not substantiate when the chips were down and as far as I'm concerned, this admission does not vindicate but indict him-at least 4 cowardice, afterall he had the opportunity to come out and say what he knew instead he allowed himself to be intimidated and forced out of govt.
The Finance Minister rightly commisioned an independent audit being led by I think Akintola WilliamsDeloitte instead of making half informed statements like Babalola and with the report due next week, Oniwon is just trying to preempt the report and gather some credibility for himself.
Those of u queuing up to criticize the govt and Aganga are only displaying your naivety as the real credit ought to go to those that commisioned an independent audit instead of making uninformed statements ie Aganga and the Gej government.
Folks, Its not really hard to see Gej's great strides in our nation, just try using your brains a little. Abeg una.

Babalola demanded that NNPC should pay the money being owed the Federation Account by the NNPC. NNPC group managing director wrote a letter to him that the organisation was not in a position to pay because it was broke. Babalola publicised the letter. That was his undoing. But then, nnpc financial status was only an alibi to ease him out, the real reason was that he was sponsored into government of Yaradua by Alao Arisekola who later backed Atiku instead of GEJ.

akintola Williams Deloitte is the regular independent auditor of nnpc but the ongoing forensic audit you referred to is being done by kpmg and Afemikhe & Co

Will Jonathan now apologise to Remi Babalola for speaking the truth? A president who would rather the truth be hidden from his people - What sort of president is this?

Little did i knw that the pdp is controling the nnpc. ehmmmmm

Nsiman:

Little did i knw that the pdp is controling the nnpc. ehmmmmm

Rude awakening, na today you know

Ibime:




FYI, Babalola did come out to say NNPC was broke and thats why he was forced out of office.

So it is Babalola's fault for resigning from a hostile Govt? Or is it GEJ's fault for forcing him out for saying the truth?

I dont know how people think in reverse these days.




The fact you are from the South-South does not give YOU reason to think like a monkey. I dont need to use my brain to see that someone who wasted/pilfered $30bn from ECA and caused us another $30bln to defend the Naira is a incompetent buffoon.

Neither do I need brains to see that any guy who would selfishly return all Governors to their seat, even murderers and despicable looters is a selfish punk who does not care about the people in those states, but about his own inordinate ambition.

I also don't need brains to see that anyone who claims that the 1999 constitution is the best constitution and doesnt need to be changed is an enemy of our people (Ijaw and ND). Did all our agitations over the past 2 decades boil down to this eediot's ambition, or was it about forcing constitutional change that would give our people land rights and access to resources?

Finally, I dont need brains to see that anyone who surrounds himself with Anenih's, IBB's and such is no good for this country.

These are my major grouses with Mr Goodluck. I was in the early days for Goodluck purely on sectional grounds. A lot of people were disgusted by the attitude of some Northerners in the Yar-adua ill-health scenario so I guess backing Goodluck was a way of getting back at those Northerners. Fine by me. However, its time to wake up. This guy won't lead us anywhere. Now IBB is his father. Guess corruption is his brother, logically.

What can we do? GEJ is going to be the winner of the next election with or without our votes.