Nemere2020:
*
https://twitter.com/ynabena/status/1305144787226562572?s=19

Considering the position of a deputy in this country I wonder why anyone would blame Atiku,just as to me it's been mischievous for anyone to blame osibanjo today knowing fully well about the conservative Hawks around buhari,I have no doubt in my mind that on a personal basis Atiku is light years ahead of Nabena n his master,but I don't blame him because his types only think of their next meal.

They are better than the dullard

solmus:


Gbam

Obasanjo had 8 years to make things right but he didn't, even road to Ota is a mess, he had an accident on Ibadan Lagos express road and proudly said the road wasn't that bad

Yar'Adua a perfect President (RIP) had just 7 point agenda and he wanted a sensible Vice President, like Donald Duke, but Baba forced clueless weak Jonathan on us because of his closeness to late Stella Obasanjo

The mess we are in is all the doing of Obasanjo and his 3rd term agenda, and later agenda of controlling Nigeria through a terminally sick man and a clueless guy

Of all the Northern educated folks, Obasanjo single handedly picked terminally sick Yar'Adua and jailed other qualified people with EFCC, of all the qualified intellectuals of Southern Nigeria he picked Jonathan, ... Obasanjo sat and watch Nigeria burn .

Yar’adua was so perfect he kicked Ribadu’s asss around because of Ibori who bankrolled his fraudulent election, just as Amaechi and Aregbesola bankrolled Barawo Bubu’s 2015 election.

What is it about the owners of the Fulani Republic of Naijeriya, FRN, that makes southern leaders easily enslaved by them?

Patrioticman007:


Truth is bitter is a known fact,
The wailing wailers will come after your head,
The Atikulooters prefer stealing as its not corruption.
We dey laugh ooooo.

Oga tell yourself the truth The worse thing to befall this Country is Apc the thieves and so called looters all migrated to Apc plus new wicked signings leave atiku out of this mind you i am not a fan to any political party make you no dey fear to tell yourself truth

Buhari is our biggest error and our cross to carry I still can't stop beating myself for voting him in 2015

Selective amnesia.

cryptotech:
They are better than the dullard.

......... who was/is a close collaborator with the worst, KNOWN looter in our history.



www.nairaland.com/attachments/3040085_abachaaa_jpegb9b6ace1c002846314b86b3375f466a0

Petroleum Trust Fraud
By Ray Ekpu

It is not known to this column how close Brigadier Sani Abacha was to Major General Muhammadu Buhari by December 1983. It was Abacha who announced at the end of a few minutes of martial music on new year’s eve that the government of President Shehu Shagari had been thrown into the dust bin of history. Buhari became the fulcrum of that history as Nigeria’s head of state. On August 27, 1985, there was another game, the Revolving Doors’ game. Buhari was out, thrown out, while Ibrahim Babangida, was in, thrown into the pinnacle of political power in Nigeria. Babangida clamped Buhari into the dungeon for some months where he cooled his feet, while his colleagues were bestriding the Nigerian political and military firmament like they owned the world. Babangida left or was forced to leave the throne after eight years of dangerous foot work. He called Chief Ernest Shonekan, a successful private sector entrepreneur, to come and take the baton of leadership.

He took it and as he was trying to hold it in his hand firmly, Abacha who had been eyeing the coveted prize greedily grabbed it in 1994. He immediately increased the price of petroleum products. The public rolled out a series of protests. As an appeasement measure, he set up the Petroleum Trust Fund (PTF) as an intervention development agency to bring succor to the people especially in the rural areas. He made Buhari the executive chairman of the Fund which he ran for five years (1994-1999).

Why did Abacha appoint Buhari the Executive Chairman of PTF? Was it as an atonement for the sin of standing by while he was overthrown by the Babangida Boys? Or was he just sympathetic seeing that the man had been left in the cold by Babangida since his ouster on August 27, 1985? Or was Abacha simply looking for a fabled disciplinarian who didn’t love money too much or the dirty part of it? Buhari needed that rehabilitation, physical, financial and reputational. He was eager to come in from the biting cold and be seen as a man who, despite the overthrow and detention, had kept his dignity and integrity such that Abacha who was Babangida’s man, could trust him with the big-wallet job.

The Petroleum Trust Fund was to intervene in such areas as roads and waterways, supply of educational materials, rehabilitation of educational infrastructure, food supply, health, water supply, etc. Buhari set up a capricious management structure and appointed Afri-Project Consortium (APC) led by a 42 year old man, Salihijo Ahmad. This Consortium was the sole manager of the PTF projects. Ahmad had admitted to Newswatch in an interview published by the magazine in its April 19, 1999 issue that it was APC that wrote the proposal which defined the mandate of the PTF. It suggested the criteria, procedure for selection and appointment of contractors, consultants and suppliers. It also worked out the monitoring mechanism adopted by the PTF. The APC had some 620 consulting firms reporting to it. It was the sole management consultants to the PTF. Most Nigerians had no idea how the PTF was run. It was when President Olusegun Obasanjo took over in 1999 and set up an interim management committee (IMC) headed by Dr Haroun Adamu to wind down the PTF that the worms crawled out of the can. That Interim Management Committee appointed three technical consultants to investigate various aspects of the PTF management. Their findings conducted independently were damning. When I read President Buhari’s remarks a few weeks ago in which he crowed about the achievements of the PTF under his leadership, I decided to do a facts-check since I knew that Newswatch had done a cover story titled “How Buhari ran PTF” which was published in its March 13, 2000 issue. This story was the product of a thorough investigation into the mammoth fraud as discovered by the technical consultants hired by the IMC. Details of the IMC report are distilled for you here. The findings: N144.51 billion had been given to PTF by the Federal Government during its lifetime; A residential estate was to be built at Wuse, Abuja, for N703 million but the technical consultants hired by IMC put the realistic valuation at about N328 million; Between July 1994 and July 1999, about N25 billion was either stolen or improperly expended; Extension of PTF headquarters was to gulp N650 million; Expired HIV/Aids drugs and kits worth N28 billion was supplied to several hospitals nationwide. This was confirmed by the Nigerian Guild of Medical Directors whose Secretary, Mr. Rowland Ogbonna, asked the Federal Government to withdraw the drugs immediately from all hospitals in the country. Many projects were abandoned while the completion rate of other projects was put at 30%; the sum of N500 million that the PTF deposited in a bank disappeared as soon as the IMC was announced. The bank agreed to pay the money after President Obasanjo read the Riot Act to the bank officials. On taking over, IMC discovered that there were no contract documents, drawings or specifications relating to projects. The APC could and did award contracts and vary the pricing without any reference to the PTF. Mr. Ahmad had asked the IMC officials to come and collect some documents in connection with all the transactions. On the day of the appointment he collapsed and died. The other members of the APC team claimed that they were not in a position to supply the documents.

There were more sordid revelations. The Afenifere did an analysis of the siting of the projects. The consumption of petroleum products by the South was 70% while that of the North was 30%. However, the distribution of the PTF projects was a reversal of the consumption pattern: 70% to the north and 30% to the south. All southern states had 4,440.43 kilometres of roads rehabilitated (24%) while states in the north had 13,870.47 kilometres rehabilitated (76%). Teaching Hospitals’ rehabilitation: South 38%, North 62%; Specialist hospitals: South 29%, North 71%; Food supply: South 17%, North 83%; National Health and Educational Rehabilitation Programme (NHERP): South 0% and North 100%; Vocational Programme: South 3%, North 97%; Primary School rehabilitation: South 12%, North 88%. Haroun Adamu acknowledged the gross imbalances in the sharing of the projects but regretted that his committee could not do much to remedy the situation since by the IMC mandate they could not embark on new projects.

From the findings there was massive fraud in PTF, fraudulently masquerading as achievements. The institution was a government intervention agency but run without the regulatory checks and balances that undergird the implementation of government projects. The Afri-Projects Consortium was just on its own, a loose canon with no authority to check it. Buhari was the Executive Chairman but he was absent-minded and had capriciously surrendered the operational powers of the PTF to APC without diligent supervision. The boys looted the place dry and there was no evidence that Buhari had an inkling of the huge corruption under his feet. Sometime before the IMC takeover, a newsmagazine, TheWeek, had interviewed him about the swirling corruption allegations. He said allegations of corruption against him were false. “My integrity is intact.” His friends said so too and even insinuated that Dr. Adamu was going after Buhari because the former dictator had detained him in 1994. Adamu told Newswatch: “I am not here to probe Buhari, No, that is not our mandate. Whatever happened when he was head of state is long forgotten. He is my friend.”

Buhari’s personal integrity was not soiled by the Petroleum Trust Fraud but he displayed supreme incompetence as a manager. As an Executive Chairman the buck stopped at his desk and no matter how you want to slice it he takes vicarious responsibility for the humongous fraud that took place in that institution. Secondly, the grossly lopsided distribution of the PTF projects between North and South is an awful testimonial for a man of his national standing to whom the nation through the coup makers had given the highest position in the land. His lopsided appointments today constitute a déjà vu.

When I read what he said about Abacha I was sorry for him. He said to a delegation, Buhari Support Group led by Comptroller General of Customs, Hameed Ali. “I don’t care about the opinion you have on Abacha but I agreed to work with him and we constructed roads from Abuja to Port Harcourt, Benin, Onitsha and so on. We also touched education and health. One of the former Heads of State was bragging that he spent $16 billion on power in Nigeria. Where is the power?” The emerging confrontation between the two former dictators, former friends and former allies and now fierce foes, Obasanjo and Buhari, will receive the attention of this column in due course. For now, I think President Buhari’s open veneration of the kleptocratic and autocratic Abacha is a cause for nausea. At the 10th anniversary of Abacha’s death Buhari had given the fantastically corrupt Abacha a clean bill of integrity. Even at that time, Nigeria was running all over the world trying to retrieve the billions Abacha had scattered in several banks in several countries and several continents. The horrifying stories of the elimination of prominent politicians and businessmen by Abacha constitute a notorious portion of our national narrative. No matter how hard Buhari tries, no matter what he thinks of the despicable, despotic Abacha, no matter why he thinks the man was a saint he will never succeed in winning Nigerians to his side. He will only wake up with fleas since he chooses to be in bed with dogs.

https://guardian.ng/opinion/petroleum-trust-fraud/

www.nairaland.com/attachments/7248935_ren1_jpeg915f192b3dbfd25ade7bec395f1e6bdc

Omoslim26:


Oga tell yourself the truth The worse thing to befall this Country is Apc the thieves and so called looters all migrated to Apc plus new wicked signings leave atiku out of this mind you i am not a fan to any political party make you no dey fear to tell yourself truth

Buhari is our biggest error and our cross to carry I still can't stop beating myself for voting him in 2015

It has nothing to do with the President, it is the system of Governance you practice, this so called democrazy, where are the other players in the system, States & Local Government? Until you start holding all tiers of Government responsible, you are only been hypocritical. The Great Fela said it best, as time dey go, things just dey bad”, dey bad more & more, poor man dey cry, rich man dey mess them all crazy”.

solmus:




Gbam



Obasanjo had 8 years to make things right but he didn't, even road to Ota is a mess, he had an accident on Ibadan Lagos express road and proudly said the road wasn't that bad

Yar'Adua a perfect President (RIP) had just 7 point agenda and he wanted a sensible Vice President, like Donald Duke, but Baba forced clueless weak Jonathan on us because of his closeness to late Stella Obasanjo

The mess we are in is all the doing of Obasanjo and his 3rd term agenda, and later agenda of controlling Nigeria through a terminally sick man and a clueless guy

Of all the Northern educated folks, Obasanjo single handedly picked terminally sick Yar'Adua and jailed other qualified people with EFCC, of all the qualified intellectuals of Southern Nigeria he picked Jonathan, ... Obasanjo sat and watch Nigeria burn


.

so is this administration anything near good or have anything to offer Nigeria. if not deeper taking the country into disintegration, diversion
found, embezzlement any manner of insecurity and backwardness is found in Nigeria now so those people you are mentioning at least had a focus in Nigeria forward to an extent what has this administration ever offered Nigeria that is good Nigeria is a dead country disintegrated a forgotten and buried under this very administration rest in peace Nigeria.

olaric:
This stupendous itente acting like he was not part of the party that brought us into this mess. Was APC not part of or borne out of PDP?

The worse of OBJ is better than the very best of Buhari. Who's Nabena self?

Mind them not. Different party names, same members... crisscrossing from one party to the other like prostitutes

anonimi:


Yar’adua was so perfect he kicked Ribadu’s asss around because of Ibori who bankrolled his fraudulent election, just as Amaechi and Aregbesola bankrolled Barawo Bubu’s 2015 election.

What is it about the owners of the Fulani Republic of Naijeriya, FRN, that makes southern leaders easily enslaved by them?

I guess we can say Jonathan Ebele was a Fulani Puppet?

favor914:
It has nothing to do with the President, it is the system of Governance you practice, this so called democrazy, where are the other players in the system, States & Local Government? Until you start holding all tiers of Government responsible, you are only been hypocritical. The Great Fela said it best, as time dey go, things just dey bad”, dey bad more & more, poor man dey cry, rich man dey mess them all crazy”.

Truely said but guy Buhari and his govt have plunged this Country in more trouble and shit dan we can imagine so we will keep calling him out for His incompetency

ozome15:

so is this administration anything near good or have anything to offer Nigeria. if not deeper taking the country into disintegration, diversion
found, embezzlement any manner of insecurity and backwardness is found in Nigeria now so those people you are mentioning at least had a focus in Nigeria forward to an extent what has this administration ever offered Nigeria that is good Nigeria is a dead country disintegrated a forgotten and buried under this very administration rest in peace Nigeria.

You can try North Korea for real change of socialism you crave?, capitalism democracy, dog eat dog, is what we practice here in Nigeria, copied from the Yankees.

Patrioticman007:


Truth is bitter is a known fact,
The wailing wailers will come after your head,
The Atikulooters prefer stealing as its not corruption.
We dey laugh ooooo.

OBJ/Atiku gave you
1: GSM, ATM, Recapitalized bank, 18K minimum wage, EFCC, Nafdac, DMO, ECA, debt cancellatuon.. list wetin ur master do do

getting interesting, the blame game

SmartProf:
Just look at these 'Change' chanters...is it not on the premise of a failing country that you guys in APC begged Nigerians to give u a chance to effect 'Change'. Rather than fulfil that promise, you decided to bury the country in a deeper mess. Right now, the country is so insecure, monumentally corrupt, with high unemployment & poverty rate, and on a very high speed lane heading for doom. Among the list of failed countries today, Nigeria has the gold medal.

Gbam, Nigeria is beyond redemption and is a failed state after the order of Afghanistan, Yemen, Syria, South Sudan, Libya and Somalia and I have long advocated for Nigeria to be auctioned off on eBay or Alibaba to richer western nations, nonsense and Buhari

BigIyanga:

OBJ/Atiku gave you
1: GSM, ATM, Recapitalized bank, 18K minimum wage, EFCC, Nafdac, DMO, ECA, debt cancellatuon.. list wetin ur master do do

I guess we can say Babaginda & Abacha gave us cellphones not9not, Laptops, & internet? Rubbish Mumu Villager.

solmus:




Gbam



Obasanjo had 8 years to make things right but he didn't, even road to Ota is a mess, he had an accident on Ibadan Lagos express road and proudly said the road wasn't that bad

Yar'Adua a perfect President (RIP) had just 7 point agenda and he wanted a sensible Vice President, like Donald Duke, but Baba forced clueless weak Jonathan on us because of his closeness to late Stella Obasanjo

The mess we are in is all the doing of Obasanjo and his 3rd term agenda, and later agenda of controlling Nigeria through a terminally sick man and a clueless guy

Of all the Northern educated folks, Obasanjo single handedly picked terminally sick Yar'Adua and jailed other qualified people with EFCC, of all the qualified intellectuals of Southern Nigeria he picked Jonathan, ... Obasanjo sat and watch Nigeria burn


.

Obasanjo picked yar adua mostly because he was a detribalised Nigerian. Jonathan was also chosen to appease the Niger delta and make them feel included.
After 5 years you still make reference to the past, obasanjo this, jonathan that..
Shebi folks saw all the "rot" in your words and voted for change and removed the"corrupt" former administration. They have been removed and so no more excuses. Provide the change voted for! Abi after 8 years blame game will still be on?

nedekid:

Obasanjo picked yar adua mostly because he was a detribalised Nigerian. Jonathan was also chosen to appease the Niger delta and make them feel included.
After 5 years you still make reference to the past, obasanjo this, jonathan that..
Shebi folks saw all the "rot" in your words and voted for change and removed the"corrupt" former administration. They have been removed and so no more excuses. Provide the change voted for! Abi after 8 years blame game will still be on?

Selfish Obasanjo chose Yaradua because he knew yaradua was dying & was hoping to manipulate him, he chose deputy Governor Jonathan Ebele, because he knew he was clueless, simple.

Patrioticman007:


Truth is bitter is a known fact,
The wailing wailers will come after your head,
The Atikulooters prefer stealing as its not corruption.
We dey laugh ooooo.

In all honesty to yourself assuming you are not a paid troll, is the country better than 5 years ago? Has your standard of living improved, better health care? Are you more secure? Does your money in your porket have more value? Do you earn more money? How about your children and education?
If you are better off then more power to you.

favor914:
I guess we can say Jonathan Ebele was a Fulani Puppet?

If he was enough of that, why did they not let him get his second term, despite building almajiri schools and universities for their region

[quote author=RuudVanNisteroy post=93882923][/quote]

What was missing from your comparative list is the price of crude oil then and size of our foreign reserve. You will totally agree with me you need brain modification to modify your comment because its obvious your studity is now online!

Yekini indeed.

He is rights, they played important rolls in bringing this rot call government to power in 2015.

Nemere2020:
*
https://twitter.com/ynabena/status/1305144787226562572?s=19

. Nobody born from a woman. change African countries including Nigeria for better..Our case in Africa is like a blind man showing the way to a blind man ..All of them are the same in their deception of the masses.

Nemere2020:
*
https://twitter.com/ynabena/status/1305144787226562572?s=19

Nobody born from a woman. can change African countries including Nigeria for better..Our case in Africa is like a blind man showing the way to a blind man ..All of them are the same in their deception of the masses.

wonuks:
Tinubu, Adesina (AFDB) or Peter Obi would be good presidents oh. I'll vote any of them.

oga remove Tinubu from that list.

In other word, they should fold the hands and watch Buhari take the rot to the next level.

All this is saying is that there's no more hope. Can't you just take the message and ignore the messenger? We know Obasanjo shit up byt let's move on now. We are not that daft to carry on a failed state.
Buhari has no plan for this state.

JAMO84:
PDP knew that their Dundee supporters are suffering from voluntarily induced amnesia. They are pretending to have forgotten the miserable record of PDP 'Covid 16' years of calamities, highlighted by the wicked squandering of the highest revenue Nigeria has ever seen.


I AM DONE TALKING

PDP OR YORUBA PEOPLE

Coronabirus:
Under Jonathan, Nigeria earned N51trillion from crude oil
The Nigerian state, during the five-year Presidency of Goodluck Ebele Jonathan, earned a total of N51 trillion from petroleum resources. The money is part of the N96.212trillion the country earned in 58years of crude oil sales.


Of this princely sum, which accounts for about 80 per cent of the country’s revenue, only N12.258 trillion (just about 14% of total) has been paid to the oil producing areas as derivation.

The figure is N35.848 trillion less than the N48.106 trillion the oil-bearing regions should have received as derivation if 50 per cent derivation had not been jettisoned few years after crude oil became the chief revenue earner for Nigeria.

The figures are the outcome of research by Sunday Vanguard, relying on documents from the Petroleum Inspectorate, NNPC, CBN Annual Report and Statement of Account, Nigeria Bureau of Statistics and the Nigeria Extractive Industry Transparency Initiative, NEITI.

In the face of biting contemporary economic realities Nigerians are contending with, there is a consensus that the different tiers of government – federal, state and local government councils – have indeed squandered the nation’s earnings. Even the modest attempts at saving for the rainy day with the creation of, first, the Excess Crude Account, ECA -which suffered mismanagement occasioned by under-hand spending by the Federal Government that was supposed to hold the funds in trust – and, thereafter, the controversial and ineffectual Sovereign Wealth Fund, SWF – which became a subject of litigation and high-wire politicking between the Federal Government and the leadership of the Nigeria Governors’ Forum, NGF – suffered from the typically Nigerian insincere approach to economic management.

A breakdown of the earnings shows that between 1958 and 2007 (CBN Annual Report and Statement of Account, 2008), Nigeria earned N29.8 trillion from petroleum resources. And between 2008 and June 2016, the country generated N66.412 trillion.Between 1958 and 1966, Nigeria earned N140 million from crude oil; 1967 to 1975, the General Yakubu Gowon got about N11.03 billion; while the late General Murtala Mohammed/ Olusegun Obasanjo military regime scooped about N25 billion from 1975-1979.

In like manner, the civilian administration of President Shehu Shagari earned N36 billion oil money; Buhari, in his first coming as military head of state (1984-85), earned about N25 billion; General Ibrahim Badamasi Babangida, 1985 to 1993, N420 billion; the Ernest Shonekan/Abacha regime (1993-1998), N1.6 trillion; and General Abdulsalami Abubakar regime (1998-1999), N350 billion.

With the return to civil rule, Nigeria, under President Obasanjo realised about N27 trillion from crude oil between May 1999 and May 2007. His successor, Umaru Yar’ Adua, reaped about N9 trillion in his almost three-year rule before he passed on.

The luckiest of the leaders is former President Goodluck Jonathan, whose administration in five years, between 2010 and 2015, earned about N51 trillion from petroleum resources. Since he came to power on May 29, 2015, the President Buhari administration has been able to earn just about N6 trillion from crude.

However, the huge earnings, since 1958, arguably, have translated to little or no improvement on the welfare of the citizenry, especially the people of the oil-producing areas, whose environment – land, water and air, has been adversely contaminated and, in many cases, devastated and polluted.

https://www.vanguardngr.com/2016/08/jonathan-nigeria-earned-n51trillion-crude-oil/

The sad story is, many Nigerians hates facts. They better remain in their ignorance than wake up to reality.

Fall in price of crude dealt a major blow.

But we failed to save for the rainy day when Jonathan's period of plenty came.

Allison madueke and all in the corridors of power then were filled.

I still thank God we haven't entered the Venezuelans curve. That would have been worse particularly if those who wasted.#51trillion were still in power.

Yesterday's decisions impacts today.

The effects of today's decisions will be evident tommorow.

Obasanjo killed this nation and took us the wrong direction downhill.

It's funny, but he knew citizens of this nation has mice brains. That's why he will continue to play on our gullibility.

Nemere2020:
*
https://twitter.com/ynabena/status/1305144787226562572?s=19

To mention one thing out of many in the time of Obasanjo and Atiku, there were lots of foreign investors and interest rates were higher in Nigeria than the US. Our foreign debt was cleared.

In the simpleton buhari's tenure, the economy collapsed in his 6 months retarded state of not appointing ordinary ministers. A person that couldn't get his ministers in over 6 months, how on earth will he ever ever do well? A hopeless failure. After that, he implemented a re*tarded policy that only a re*tard can implement. He restricted the deposit of dollar and the withdrawal of dollar. The foreign investors seeing that the chronic failure who was cursed with destroying Nigeria's economy just like he did in the 1980's has got back to work, they immediately started pulling out their dollars from the Nigeria economy.

J.P. Morgan pulled out $65 Billion dollars from the Nigerian economy, other companies followed suit, pulling out their investments. Imagine a country that $65 billion dollars is pulled out from, what will become of that country?

After he successfully crashed the naira in that 6 months, causing the naira to trade over =N=500 to a dollar, he made dollar available at =N=100 to his bureau de change brothers and his Muslim brothers on pilgrimage. Please why won't the economy be destroyed by these actions?

Let me just stop here because there are thousands of things that the simpleton buhari has done that has destroyed this country not to talk of his bokokharam and killer herdsmen.

Olaolufred:


The sad story is, many Nigerians hates facts. They better remain in their ignorance than wake up to reality.

Fall in price of crude dealt a major blow.

But we failed to save for the rainy day when Jonathan's period of plenty came.

Allison madueke and all in the corridors of power then were filled.

I still thank God we haven't entered the Venezuelans curve. That would have been worse particularly if those who wasted.#51trillion were still in power.

Yesterday's decisions impacts today.

The effects of today's decisions will be evident tommorow.

Obasanjo killed this nation and took us the wrong direction downhill.

It's funny, but he knew citizens of this nation has mice brains. That's why he will continue to play on our gullibility.

This is fact. OBJ knows the citizens level of mental inferiority and can be played anyhow that's why he's always saying trash. He's nothing concrete to show.
I dnt blame him I blame indomie generation factor!