Racoon:
Any sane and we'll informed fella, should be able to smell and decipher APC lies, deceit, falsehood and propaganda from a distance. You can never defend anything under APC without sounding stupid.

The mumu Ajuri don chop. How e no go defend him employer? All the things Lai Mohommed criticised as apc spokesman, he is defending worse scenerio now. Trust these politicians at your own peril.

TonyeBarcanista:



Tonye Barcanista is a political analyst and social commentator. He writes on Nairaland.com and @TonyeBarcanista on Twitter

This guy is just yearning dust, just to score a cheap point. He forgets to tell us how the oil price went from over $120/barrel in PDP's time to $20 in APC's time, he forgets to tell us there was no pandemic and shutdown during PDP's time, he forgets to tell us that the inflation in the world was not this bad - to have saved a paltry $2 during oil boom and no visible advancement or infrastructure development is the REAL deal and biggest corruption....All the government allocation/budgets for infrastructure and development, where did they all go?

The greatest defeat and undoing of this government to me is SECURITY, they failed to protect the lives and properties of the people. I know how pre-pandemic was, how post-pandemic has even been for someone like me that's not in Nigeria. The difference is that, the structure is in place and people are condemning or protesting much but everyone is feeling it. The infrastructural deficit is canceling out the people's drive to make ends meet, without depending on the government. In the western world, many of my friends who lost their jobs during the pandemic are still unable to get new one, so many companies have only start recovering.

My take, his analysis shots PDP in the leg. Unless there is a good explanation to Nigerians on why same PDP during OBj and Jonathan were unable to fix power, and all the roads in Nigeria. At least by now, I knew many tailors, vulcanizers, carpenters, printing press, photocopying outlets, hairdressers that could not continue because the could not afford diesel or petrol and had to become okada riders. In the urban areas, people cn afford the charges as such the service providers can equally get the money for diesel or petrol, but in the rural areas, your prices have to be cheap, and with that, you will be running at loss.

APC are bandits

Thieving bandits

A party that thrives on lies and propaganda ! Ajuri does his job well, smooth talker and quick thinker but still a liar unlike say Ogunlesi who will be darting his eyes left and right and say ahhh… ummmm … issa… emmu emmu… then not give a direct answer

Yet they claim to be borrowing to sustain the budget and infrastructural development.
Wat a wicked APC government !

dettolgel:
Oga I did not see how the things you wrote there are direct response to the issue presented by the op.

Let me help you, for instance the op gave the amount of bench mark for 2021 and 2022 as 40+ and 60+ dollars respectively. A reasonable response would be "either is figure are correct or wrong." if wrong you present the actual figures.

The op gave the figures for the prices of crude oil for the 2 years he listed month by month. Your counterpoint would have been providing figures that counter that if you believe he was wrong.

But nope, you chose to write something that brings no fact to the table.

Given how some of your guys reason it is now clear to me why our politicians have been able to pull the mess they pull year after year because most of the people can even reason themselves out a problem.

As for op what I find problematic is the fact that he used just 2 years oil prices to buttress his point. Though I am not aware what the benches marks and price oil were between 2015 and 2020 but omitting it might be an indication of the op keeping away information that might undermine his position on the issue.

If I were you that is where I will start rather than the full text of nothingness that you wrote.

No wonder some people go write full book collect extra sheets for exam still get D.

I am actually against PDP and APC's misrule...

Just like you said, he carefully shielded data from PDP's rule... especially during GEJ era, when crude oil per barrel was touching almost $120 per barrel....and yet, the country was in total mess before he left office.

My point is..it would be very difficult for any government to increase savings in Excess Crude Account, when the State Governments cannot even pay salaries.

Subsidy scam is real...he should stay on it...but bringing the depletion of ECA matter into his argument no cut am for me...no way ECA would have increased.

ADecadeAddict:
One question: Are you Igbo?

One question are you a graduate?

Because it seems most Tinubu supporters are so tribalsitic it affects their reasoning. They resort to tribe at every corner and assume all Peter Obi supporters are Igbo.

Jokers

What this shows is simple. The subsidy regime is a means of siphonig off money. That is why it has to be removed, and it has to be removed now.

End of story. The sad thing is that neither PDP nor APC showed the decisiveness needed to remove fuel subsidy, which is why we have ended up with losing trillions of naira every year because...subsidy.

Remove the subsidy. It will benefit the country in the long run and starve the cabals and looters .

Ajuri who used to grill politicians on Channel TV in order to extract hard facts from them is now misrepresenting facts and has forgotten objectivity in journalism while Keyamo who used to be an activist has thrown away his activism for dirty politics,that is the style of Nigerian politics.

TonyeBarcanista:



Tonye Barcanista is a political analyst and social commentator. He writes on Nairaland.com and @TonyeBarcanista on Twitter

What was the amount of ECA Jonathan met and how much did he leave? Your $2b figure is right as how much Jona left in 2015 so how much did he meet in 2010 when he took over?
Secondly what was the reason governors asked for the ECA to be shared? You see the problem with Nigeria is that even knowledgeable people are full of sentiment

TotalRunter:


What was the amount of ECA Jonathan met and how much did he leave? Your $2b figure is right as how much Jona left in 2015 so how much did he meet in 2010 when he took over?
Secondly what was the reason governors asked for the ECA to be shared? You see the problem with Nigeria is that even knowledgeable people are full of sentiment

Did facts stated take away Ajuri's misrepresentation of facts?Because your questions seem to be finding a soft landing or excuses for Buhari's economic blunders.

Handsum64:
May PDP never have the opportunity to fool us again

APc is worse

though both parties have failed

it's time to try another

TonyeBarcanista:
APC holding to straws

You even pitied them small,

With that stupendous sum paid as subsidy, oil was supposed to sell at #56 to #70 per litre,

Or wasn't it subsided for us to buy it cheaper

IgboNiile:
Ones met Chamberlain Usoro of Channels TV on flight from Lagos to Abuja he told me point blank that Ajuri is a big scam like Buhari . I asked him why he said time will tell that Nigga came to Nija to chase money not to help. He doesn't care . I now understand why he said it .

most of them are hustlers.

TonyeBarcanista:



Tonye Barcanista is a political analyst and social commentator. He writes on Nairaland.com and @TonyeBarcanista on Twitter

Ajuri didnt misrepresent any facts, you simply got your calculations wrong... Accruals into the ECA isnt just a function of oil prices alone. Did you consider production volumes in your calculations? Obviously NO!

While the oil price may currently be above the budget benchmark, Nigeria's oil production volume has been far below benchmark; i.e. the volume of crude Nigeria has been selling in the last few years has been less than 50% of the targetted volume. Nigeria isnt even meeting its OPEC quota.

ZombieTAMER:


APc is worse

though both parties have failed

it's time to try another

Which party is the other option?

israelmao:


Did facts stated take away Ajuri's misrepresentation of facts?Because your questions seem to be finding a soft landing or excuses for Buhari's economic blunders.

What Ajuri said is the truth.

Despite the higher oil price, ECA hasnt grown because Nigeria isnt producing and selling as much crude as it should.

adioolayi:


I am actually against PDP and APC's misrule...

Just like you said, he carefully shielded data from PDP's rule... especially during GEJ era, when crude oil per barrel was touching almost $120 per barrel....and yet, the country was in total mess before he left office.

My point is..it would be very difficult for any government to increase savings in Excess Crude Account, when the State Governments cannot even pay salaries.

Subsidy scam is real...he should stay on it...but bringing the depletion of ECA matter into his argument no cut am for me...no way ECA would have increased.

He was actually right to bring ECA. APC usually jump to emphasis depletion of ECA without telling anyone it was their governors led by renegade Amaechi in NGF who pushed for sharing ECA and even threatened to go to court on the issue. What you must know about ECA is that it actually an extra-constitutional fund. It has no legal framework supporting it. OBJ's govt instituted it then based on overriding public interest. So, it's obvious that if the NGF had gone to court, they would have won and the account would summarily cease to exist. The amount in the ECA before it was shared was over $35bn. Note that after it was shared, GEJ's govt used part of the FG's share to create the SWF which has also been depleted by this govt.
On the issue of borrowing to pay salaries, know that even this govt is doing same. Just that they are smart enough to not come out to say it. The bailout given to states when Buhari first resumed was from NLNG dividends he met in FG account. Go and see what is left of that now.
APC are worse managers of the economy than PDP. You all use low oil price and covid to justify the recession we had under them while the new excuse is inflation is global. What you won't remember was during the global financial crisis of 2008, Nigeria was one of the few countries not affected because of smart management of the economy under PDP.
Don't just swallow the 16 years and nothing propaganda. It's an attempt to lower the bar so their failures can be masked.
APC is a mega failure

obailala:
What Ajuri said is the truth.

Despite the higher oil price, ECA hasnt grown because Nigeria isnt producing and selling as much crude as it should.

You see what I'm saying?
More excuses. APC govt does not believe in solving problems. They are only good at highlighting it. May I ask whose responsibilities it is to ensure we produce as much crude as we should?

Agboriotejoye:

You see what I'm saying?
More excuses. APC govt does not believe in solving problems. They are only good at highlighting it. May I ask whose responsibilities it is to ensure we produce as much crude as we should?

I'm not a member of the APC govt. I was only passing bye and saw people brandishing false figures and analysis; all I did was to point out the error in the analysis.

So please tell me, how is that a bad thing? Is that what you term as "making excuses for govt"? Would it have made me a better man if I saw wrong figures and simply kept quiet because I dont like the govt?

Kingozymandias:


One question are you a graduate?

Because it seems mos Tinubu supporters are so tribalsitic it affects their reasoning. They resort to tribe at every corner and ssume all Peter Obi supporters are Igbo.

Jokers

The question answers itself


Enjoy your bitterness

TotalRunter:


What was the amount of ECA Jonathan met and how much did he leave? Your $2b figure is right as how much Jona left in 2015 so how much did he meet in 2010 when he took over?
Secondly what was the reason governors asked for the ECA to be shared? You see the problem with Nigeria is that even knowledgeable people are full of sentiment

Furnish us with the reason why the governors asked for ECA to be shared and also how much was there when Jonathan took over and how much it was before the governors asked to share it. Share your knowledge

ADecadeAddict:
The question answers itself


Enjoy your bitterness

You didn't answer the question.

obailala:
What Ajuri said is the truth.

Despite the higher oil price, ECA hasnt grown because Nigeria isnt producing and selling as much crude as it should.

Did Ajuri mention that Buhari administration has made N9trn in subsidy payment in 7years some of which was unjustified according to stated facts?This is the same Buhari who referred to subsidy fuel payment as a fraud to prior his election as a democratic president.Big oil thieves are having field a day with collusion of some political elites in this administration and you expect ECA's growth?

obailala:
I'm not a member of the APC govt. I was only passing bye and saw people brandishing false figures and analysis; all I did was to point out the error in the analysis.

So please tell me, how is that a bad thing? Is that what you term as "making excuses for govt"? Would it have made me a better man if I saw wrong figures and simply kept quiet because I dont like the govt?

Like I said, we are doing comparative analysis here. No one asked PDP govt to create ECA. OBJ did it of his own initiative based on the unsavoury experience he had with Western leaders when pursuing debt relief and also the examples from UAE and Saudi's wealth fund investments. When Yaradua took over, Nigeria's crude oil production was abysmally low due to the Niger Delta crisis. The crisis was threatening to even send IOCs out of Nigeria. He went about solving the crisis and returning confidence in the investors. That's how govt should work. Solving problems. So many oil wells in Nigeria are dormant now, not even because of Niger Delta crisis but because of the obnoxious offshore bill signed in 2020. It has led to IOCs divesting seriously from Nigeria. A good number of them have moved to Angola.
So when you raise the point of oil production level, you should be patient enough to find out why exactly that is and why this govt is unable to resolve it. Without doing that, you're making excuses for the govt.

israelmao:


Did Ajuri mention that Buhari administration has made N9trn in subsidy payment in 7years some of which was unjustified according to stated facts?This is the same Buhari who referred to subsidy fuel payment as a fraud to prior his election as a democratic president.Big oil thieves are having field a day with collusion of some political elites in this administration and you expect ECA's growth?

The numbers he quoted were correct, that is the point.

Agboriotejoye:

Like I said, we are doing comparative analysis here. No one asked PDP govt to create ECA. OBJ did it of his own initiative based on the unsavoury experience he had with Western leaders when pursuing debt relief and also the examples from UAE and Saudi's wealth fund investments. When Yaradua took over, Nigeria's crude oil production was abysmally low due to the Niger Delta crisis. The crisis was threatening to even send IOCs out of Nigeria. He went about solving the crisis and returning confidence in the investors. That's how govt should work. Solving problems. So many oil wells in Nigeria are dormant now, not even because of Niger Delta crisis but because of the obnoxious offshore bill signed in 2020. It has led to IOCs divesting seriously from Nigeria. A good number of them have moved to Angola.
So when you raise the point of oil production level, you should be patient enough to find out why exactly that is and why this govt is unable to resolve it. Without doing that, you're making excuses for the govt.

I wasnt analysing the what's or the why's or the political argument bordering on whether this govt is good or bad. Everyone knows the govt is a failure but that isnt what my comment was about. All I was doing was pointing out the error in mathematics by the OP; ECA isnt a function of just oil price.

obailala:
I wasnt analysing the what's or the why's or the political argument bordering on whether this govt is good or bad. Everyone knows the govt is a failure but that isnt what my comment was about. All I was doing was pointing out the error in mathematics by the OP; ECA isnt a function of just oil price.

The op was responding to the narrative pushed by a government functionary who sought to turn facts on his head by employing the narrative that APC have overall done better than PDP in the management of the economy. That's the crux of the argument he's trying to make. For example, when he says Nigeria was earning over 100 per barrel through the years of the PDP, he conveniently leaves out the fact that between 2006-2008, the Niger Delta militancy was at its peak. Oil production was also low then yet, ECA grew.
ECA is a function of oil price. It is excess crude account. Before a govt proposes budget benchmark for crude price, they sit down and calculate the projected BPD for the year. It is based on that they give a benchmark price and excess on the price is moved to the ECA.
Don't get it twisted, this is not the first time oil price is exceeding the benchmark price in this administration.
Between 2018-2019, oil price also exceeded the benchmark price yet the ECA did not grow. Go check it out.

Agboriotejoye:

The op was responding to the narrative pushed by a government functionary who sought to turn facts on his head by employing the narrative that APC have overall done better than PDP in the management of the economy. That's the crux of the argument he's trying to make. For example, when he says Nigeria was earning over 100 per barrel through the years of the PDP, he conveniently leaves out the fact that between 2006-2008, the Niger Delta militancy was at its peak. Oil production was also low then yet, ECA grew.
ECA is a function of oil price. It is excess crude account. Before a govt proposes budget benchmark for crude price, they sit down and calculate the projected BPD for the year. It is based on that they give a benchmark price and excess on the price is moved to the ECA.
Don't get it twisted, this is not the first time oil price is exceeding the benchmark price in this administration.
Between 2018-2019, oil price also exceeded the benchmark price yet the ECA did not grow. Go check it out.

You still dont get the point do you? I'm not here to argue PDP vs APC. The OP said ECA was a function of oil price and querried why ECA was dropping despite higher prices than benchmark. My point focuses strictly on that; I pointed out that in addition to oil price, ECA accruals are also influenced by production volumes. Production volumes have been far below expectation in the last few years owing to different factors (pipe vandalisation, COVID19, govt failures etc.)

Once again, I'm not here trying to argue PDP vs APC or whether it is govt's fault that production volumes are down. All I tried to point out is simply that oil price alone does not determine what goes into the ECA; oil production volume is also an important factor which the OP obviously failed to recognise.

Kingozymandias:


You didn't answer the question.

I'm a graduate.


Now answer