₦airaland Forum

major466:
It appears the APC e minions have decided to console themselves with another thread to lament over yesterday's massive defeat at the hands of King datolee.

anonimi:
Like Bill Clinton, the comparison made here- not so

anonimi:
All the scandals you mentioned are being investigated and when completed prosecuted. Most of them have been discussed here on NL.
He did NOT pardon a fugitive. Alams had already served his punishment in Nigeria. Bill Clinton who was paid $750,000 by Fashola to show up briefly in Lagos pardoned worse cases as president. Below is just ONE example =>



Kindly note that I do not support Alams' pardon.

I thought it was Tinubu who forfeited his bank balance for drug money laundering.
Did I miss something

the bid to meet the water demands of people living in Lagos State, the State Governor, Babatunde Fashola, has said that the state is set to increase its water generation level.

Lagos presently produces about 210 million gallons of water per day from its various water plants which is far below the demand of the residents estimated at 540 million per day. As a result, majority of the residents rely on boreholes for their water needs.

Major public waterworks run by the Lagos State Water Corporation (LSWC) include Adiyan Waterworks targeting about 72 million gallons p/d; Iju Waterworks with capacity for 45 million gallons p/d and Ishasi Waterworks producing about four million gallons p/d.

These are aside other mini and micro waterworks scattered across the state, some not producing at all and some producing at far below installed capacities.

But Governor Babatunde Fashola said the target was to produce 745 million gallons per day to exceed demand which is expected to rise to about 733 million gallons by 2020.

The governor, who gave the assurance after inspecting on-going construction in the massive Adiyan Waterworks, said the project was designed to put an end to scarcity of potable water supply to the residents.

anonimi:
You better stop spreading these your propaganda lies, you hear me so!
Just one report showing more than 50% decrease in the outflow of corruption $ under this administration =>



Is the improvement not in sync with what Transparency International reported that our country's corruption index globally has also improved from 144th in 2013 to 136th this year

Can this be a manifestation of the SYSTEMATIC fight against corruption by the federal administration of Jonathan/Sambo that follows Law & Order as in any CIVILISED society even though slow but produces LASTING results?

Mogidi:
Nigeria didn't become the 26th richest economy under Dr Jonathan because of mismanagement.

Nigeria didn't become the largest economy in Africa because of mismanagement.

One Good term deserves another.

Vote DR. Goodluck Jonathan for continuation.

oziegbe2015:
and yet two big eyeballs women that control gej with lipstick, would come and start speaking terminology, after they cripple our country they would go to us. Do u knw that none of both iweala and deaziani families live in nigeria(from husbands to children and extended family) they dont care about nigeria thats why ngozi asked to be paid in dollar currency instead of naira to 'serve her fatherland'. Vote for CHANGE

Adminisher:
He will not get our votes. To be fair to Jonathan, I don't think he realized what was happening under Okonjo with her borrow and spend agenda. Too many shady consultants are confusing the govt with figures that are skewed against truth. We shall respond with our votes.

lacasa:
The facts are unadulterated.


Only eediots support the govt of Jonathan

While some indicators improved in the early post military era, many have now nose-dived, as no conscious effort has been made to skew policies in favour of socio economic wellbeing. Some examples:
Life expectancy is just 54 years, eight years lower than in Ghana and 20 years lower than in Brazil.

The rate of childhood malnutrition is 24 percent, more than eight times the rate in Mexico.

Basic literacy among 15- to 24-year-olds is just 66 per cent, compared with 99 per cent in South Africa.

Official estimates of poverty rate vary from 41 per cent to 56 per cent, depending on whether the poverty line is drawn at 2,500 calories per day or at US$1.25 per day. However, according to a recent study, 74 per cent of the population lives below the economic empowerment line. This is a more stringent definition than “poverty line”. As a result, there are still 32 per cent of the population that are above the official calorie-based poverty line but are not “economically empowered”.

Infrastructure continues to be a major challenge: electric power, transportation infrastructure, telecommunications infrastructure and Internet and broadband access is limited. Water and wastewater systems are nonexistent outside a few cities.

Reputation for widespread corruption remains high, ranking at 139th out of the 176 countries on Transparency International’s 2014 Corruption Perception Index.

World Bank governance and business environment indicators are much weaker than for oil exporting or African peers. Nigeria ranks 158th out of 189 economies for trading across borders. Global Competitiveness Report of the World Economic Forum for 2013-2014, ranked Nigeria 120th out of 148 countries in the Global Competitiveness Index
Nigeria’s budgetary process is now adjudged one of the weakest in the world. In the annual “Open Budget” Survey, Nigeria’s ranking has declined progressively since 2006, and in the latest ranking for 2012, Nigeria scored 16 per cent. This does not compare favorably with the performance of South Africa (90%), Uganda (65%), Ghana (50%) and Angola (28%).

During 2009-2013, the first five years of President Jonathan’s administration, real GDP growth averaged 6-7 per cent, a fact often touted by the government. But this record is much lower than that of the first five years of civilian rule (1999 – 2005), when growth averaged 11.1 percent. (Figure 1) This is despite the fact that oil prices were much lower at that time than now, and foreign investors’ appetite for Nigeria was not as strong as now. The difference, it seems, is in the leadership and policy choices of the different periods. Therefore, President Jonathan’s achievement can hardly be said to be “unprecedented”. It’s actually poorer than his predecessor’s achievements in less benign circumstances.

Fiscal balances: Nigeria’s fiscal balances are much weaker than at any time since the beginning of civilian regime. In the first five years of President Jonathan, the fiscal account was in deficit, on average by 4 per cent of GDP. During the first five years of civilian rule in contrast, the fiscal balance was in surplus, on average, by close to 2 percent of GDP. (Figure 2) Again, this is despite much lower oil revenue earnings during the earlier period. Even though the Jonathan fiscal deficit remains small by international standards, it is still higher than that of many oil exporting countries which are all accumulating surpluses rather than deficit and using the opportunity of high oil prices to invest in long term infrastructure. What is becoming clear to critical observers is that the budget deficit is more or less contrived through an unrealistic oil benchmark price. With lower revenue and higher expenditure projections, the result is a deficit balance. DMO is then required to “borrow” at excessive cost “to finance the deficit”. But with the usual less than 70 percent implementation rate of the budget, nobody has bothered to find out why there is still a deficit if the budgeted amount was not spent and why the need to accumulate new debt!

Public debt: Public debt stock is much higher than at any time since the Paris Club debt exit of 2006. In 2007, total public debt fell to N2,678b ($3.5b external debt from $36b, and N2.2b domestic debt). But as of end 2013, public debt has increased by more than 300 percent to N8,423b ($8.2b external, and $60b domestic). (Figure 3). If AMCON debt and other agencies are included, the total debt burden is now over N1 trillion. By end of 2014, Nigeria’s total debt should easily approach over $100b, most of which were accumulated in the past 6 years. Given the well-established negative correlation of debt and economic growth, how has growth been so strong?

Debt service: According to 2013 federal budget data, close to 20 percent of recurrent expenditure is devoted to servicing debt alone, a contrast to 2007, when only around 10 percent of recurrent expenditure was spent on debt service. The major conundrum is the lack of clarity on why debt accumulation should be so high in the presence of historically high oil prices, and what exactly the debt is financing. Furthermore, government’s policy of accumulating debt at average interest rates of 13-15 percent when the same government is receiving less than 3 per cent on its savings (foreign reserves) beats economic logic. Why not use some of the savings to finance the needs and save 10 percent? It will also be interesting to find out why debt accumulation is bad in 1999-2007, but is now a good thing.

Foreign reserves: Nigeria’s foreign reserves have followed a pattern similar to the other indicators since the beginning of civilian rule. In the Obasanjo and Yar’Adua periods, reserves high enough to finance, on average over 7 and 10 months of imports respectively. However, in the six years of President Jonathan, it has declined to about 6.3 months of imports. (Figure 4). When compared with other oil exporting African countries, in the first two periods, Nigeria’s foreign reserve accumulation was stronger than those of other countries. However, in the recent period, Nigeria is just about catching up with others. Although stabilization funds exist, the federal government has struggled to replenish them, despite high oil prices.

Whynotthetruth:
Now bro, common sense a times isn't common...no offence plzz....Now, take note of the population of those countries mentioned as against that of Nigeria...weigh it against our resources via per capita income.....
Let me draw an analogy to help you here...if I give 5k as business capital to your family of 50 men to share and work with...and same 5k to another family of 10 men to use for same purpose within same time frame ceteris paribus...who will have more disposal income in the short run among them? But in the long run which family do you think will come out better, stronger, fulfilled and formidable Have you wondered why they still group China and India in world's countries with high rate of poverty?? Population bro....do not wish yourself evil to win election(to have campaign points)...do not be a pessimist or harbinger of bad news##word##

Whynotthetruth:
Malabu oil deal we will get there...sector by sector...Remember, Buhari was in charge of PTF and under him his cronies & staff were looting us dry maybe on his behalf...Have you wondered how a man who said he has only 1million in his account with no known means of income has been perennially contesting presidential election every quarter...who is funding him or how does that magical 1million naira replenish itself without end...is buhari the new biblical zarephat woman...can holy buhari jail jagaban or almakura or wamakko or amechi for corruption offences

Whynotthetruth:
Wow...are you the only one in "Israel" who doesn't know what is happening GEJ has his "transformation agenda" which has been his template for guided integrated development strategy. It's that same "TRANSFORMATION AGENDA" that is manifesting in the new "industrial revolution master plan"...in the new automotive policy which has seen auto giants scrambling to set up new plants here(have you heard about even our own innoson)... agricultural transformation which saw our food import cost drastically run down from 1trillion to around 634billlion and is still going down...ask flour mills, dangote,etc who are setting up farms what is driving them ....have you seen our transport sector master plan and the accompanying revolution Even international agencies like KPMG acknowledged it yet you and Buhari are yet to wake up to reality.... Do you still want me to continue?? show me buhari's economic blueprint and magic wand....am waiting

In spite of the new found status of Nigeria as the largest economy in Africa, the country has been ranked not only as one of the world’s least prosperous countries in 2014, but also one of Africa’s poorest nation beaten by smaller countries like Niger, Benin, Mali and Cameroun, an annual global prosperity survey released this week has said.

According to a report released by a UK based Legatum Institute, a research organization that documents annual prosperity indicators around the world, listed Nigeria as the 125th out of 142 countries surveyed.

Whynotthetruth:
Bro, I am not interested in lies and propaganda. By posting that link, you saying that PDP is not bad after all because the years in review there are all under PDP rule But by the way; Which Bello are you showing me his write up here? Bello who got the uncommon opportunity of being agric minister for almost 7years with no tangible achievement which statistics is he showing a magical 6.5% parallel growth in all parts
Under who did we have 14billion fertilizer scam under who did we see portfolio farmers and abuja farmers?
I challenge you to take a trip to the local farmers for a first hand information not lies and propaganda in the media...
There's a thread on that already in Nairaland...go feed your eyes and calm flaired nerves...
About your thread, I stated that GEJ is taking it one at a time...not being jack of all trades master of none...we take it sector by sector....since agricultural sector is settled; guess our next port of call...its all continuity bro

atlwireles:
Responsibility lies with all of us. I have not heard any party come out and tell us how they intend to refinance our public budgets. Instead they want to fix the price of oil.

Whynotthetruth:
I keep saying it that ignorance is tooooooo bad. Where is Buhari's manifesto for his 2015 presidential election? Where is his economic blueprint and magic wand Let him empirically tell us exactly where we are now using verifiable data and where he is taking us to if elected and how GEJ transformation agenda is a micro extract of PDP manifesto. Where is that of Buhari We need to weigh it using standard gauge. By the way, this your utopian APC manifesto is simply unrealistic. I don't have time to xray it here and now. It is full of utopian and unrealistic academic write up. Why has they not achieved those their listed agenda(mission) in the APC states??.?. Or is it only feasible to them at federal level? They wanted devolution of power what was their stand on it at the national confab which they grudgingly attended without any clear cut agenda??

WhiteTechnology:
I have read it


No because PDP North is opposing it and I know APC North will oppose it.

atlwireles:
Our morbid refusal to adjust our taxation policy is responsible for it. A country overrun by freeloaders and parasites. That's why everybody is crying about oil prices.

atlwireles:
For the size of this economy, it is a crime against humanity, that Nigeria still depends on oil and gas, for 80% of government spending. The economy is diversified already. Oil and gas represents only 18% of the GDP.

Whynotthetruth:
Which former minister? kindly clarify This thread is about Buhari's incapacitated nature to fight his one point agenda manifesto which is corruption... Open another thread for GEJ...let's meet there...thank you

WhiteTechnology:
Mine is better because I recognize the role States LGAs and Private sector can play why your GMB method focus entirely on FG input alone.


It is not PDP but the North that opposed decentralization of Nigeria .


And it cuts across parties.

major466:
Exactly. The value of the naira had always been artificially supported by crude oil prices. That has always been the case since 1970s.
The way forward is for government to increase its diversification drive and allow market forces determine the true value of the naira. Its better to have a strong economy and a weak naira than have a weak economy with a strong naira supported by the nation's reserve.

barcanista:
My problem is more of the Admin or Mod that pushed a misleading figure to the FP without confirming its veracity or otherwise. It is more heartbreaking when one is to put into factor that credible info doesn't enjoy such promo all in the name of politics.

Firefire:
I made comparison likes for likes and in whatever form, GMB era is full of harsh economic woes.

check the percentages in relative terms

WhiteTechnology:
It seems you don't understand our call for decentralization of Nigeria, fiscal federalism Privatization Resource control , political federalism etc

If we create laws that empower States, LGAs to provide their electricity and encourage them to use a huge percentage of royalties/ tax etc generated within their territories to encourage industrialization with the help of the private sector, naira won't be witnessing issues like this because of the diversification we would witness in our economy.

Firefire:
@ Doyin2,

see that Buhari government is worst and Buhari is a very bad economic manager

GMB (1983-1985)
Official Rate 0.724
Official Rate 0.89 23% Devaluation
Parrellel Mrkt 1.5 40% Official Rate @ devaluation vs Parrallel Market
107% Initial Official Rate vs Parrallel Market


GEJ (2014)
Official Rate 155.0
Official Rate 168.0 8% Devaluation
Parrellel Mrkt 185.0 9% Official Rate @ devaluation vs Parrallel Market
19% Initial Official Rate vs Parrallel Market

so what the datolee have shown represent the facts and nothing but the facts.

Whynotthetruth:
Seriously I wanted to ignore you because of your usage of the word; "your president". Are you not Nigerian?? I am Nigerian and I am proud he is my president. But since, I am interested in your soul, let me honour you with a little answer.
The thread is about Buhari, who you guys is repackaging as incorruptible and that he has a magic wand to solve all Nigerian problems though you and him all refuse to tell us what this magic wand is
At least to substantiate that GEJ is doing something about eliminating corruption... Why not take a trip to see local farmers and ask them about e-wallet and fertilizer distribution system. I believe you were aware of the extent of scam and rot in this sector before now
GEJ is being realistic and taking it one at a time...I don't believe in putting all fingers in the mouth at once...take it sector by sector and get it right once...that's why we need CONTINUITY!!!

WhiteTechnology:
Correct me if I am wrong

From the article , the high exchange rate was due to the few minority that got it by influencing the sellers to sell at higher rate so as to easily get dollars


But the fact is


Did Buhari diversify our economy.?

If yes , what method did he use.?