chronique: This is a pure lie. Oil prices fell up to $70 in 2010 and Jonathan wasn't borrowing to pay salaries then.
Under President Goodluck Jonathan, the Federal Government has borrowed a total of N2.57tn. Thus, the Federal Government’s debt profile rose from N4.18tn as of June 30, 2010 to N6.75tn as of June 30, 2012.
Analysis of the debt increment between June 30, 2010 and June 30, 2012 shows that the Federal Government borrowed an average of N107.08bn every month for 24 months or a total of N1.285tn per annum.
He wasn't paying salaries in 2010, but he was borrowing N107.08bn every month between 2010-2012, so please tell us what he was doing with the N107.08bn every month?
So, with Jona borrowing such huge amount in 2010 when oil was selling for $70 according to you, so, why expect to be eating chicken, turkey and drinking champagne when oil sold for $27 and depleted reserves when PMB took over?
You people can not even keep up with your ignorance and hypocrisy
Xander85: Messed up which economy? You must be referring to a Nigeria in a parallel universe!
Nigerias' economy was on an upward trajectory when GEJ and Okonjo-Iweala were in charge. Almost all socio-economic indicators were positive. This kwarruption-kwarruption you numbskulls keep on parroting about just to try and deflect blame for Buhari and APC gross incompetence and running the economy aground....you know Nigeria performed better in the corruption perception index during the time of GEJ? Even regarding security, can you actually say Nigeria is more secure today than when GEJ was President? Wasn't the naira better valued during the GEJ years than it is today with you 'man of integrity' in power? The present job losses nko.....can you compare the present job data to those of the GEJ years?
Come to think of it, since your 'saint' is now in power and corruption has purportedly been reduced to its barest minimum...since the price of oil has been above the budgeted estimates for at least the past two budgets....since the Buhari gov't has recovered all the billions of dollars they say GEJ gov't and PDP stole since 1999...since all this is now the case shouldn't we be experiencing economic boom and happiness?
You guys are so annoying walahi!
Okonjo-Iweala warns of economic recession
ON JUNE 14, 2012
Abuja — Minister of Finance and Co-ordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, has warned of a difficult time ahead as she told the Federal Executive Council meeting in Abuja, yesterday, that “government should buckle up and prepare for a possible recession” in the economy.
Nigeria: Austerity - We're Ready for the Worst - Okonjo-Iweala
More By Kingsley Ighomwenghian (Lagos), David Agba (Abuja) and Igoniko Oduma (Yenagoa) Despite what some have termed the looming doom hovering over the nation's horizon as a result of the crash in oil price, Co-ordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Thursday assured of Nigeria's readiness to weather the storm, should the price slide further at the international market.
Brent crude oil futures fell below $74 per barrel on Thursday after the group decided not to cut production, despite global oversupply.
FG introduces austerity measures ON NOVEMBER 17, 2014
ABUJA—The Federal Government, yesterday, introduced some austerity measures and scaled down the crude oil bench mark for the 2015 budget. In a bid to insulate the economy from falling crude oil prices the federal government announced far-reaching policy measures to deal with the crashing crude oil prices, cutting 2015 oil benchmark from $78 to $73 per barrel. Crude oil prices dropped to $77.76 per barrel, some cents below the $78 earlier proposed to the National Assembly as bench mark for the 2015 budget.
Nigerian govt borrowing billions to pay salaries – Okonjo-Iweala May 6, 2015
In the face of dwindling oil revenues, Minister of Finance, Ngozi Okonjo-Iweala, said the Federal Government has borrowed about N473billion to pay salaries and fund the 2015 budget.
1. The incompetent woman warned us about recession back in 2012. Why? Was this under PMG or Jona?
2. The same incompetent and Jona introduced austerity back in 2014 when oil was selling for $78. Why? Was this under PMG or Jona?
3. The same incompetent woman and Jona borrowed money from 2012 till Jona's last month in office/May 2015.
She was practically borrowing hundreds of billions to pay workers salary.
4. The same incompetent woman was the economic coordinator, but she was so dumb, clueless and colluding with looters that she left a battered and unversified economy.
5. The so-called finance minister couldn't even account for every kobo of public funds. The whole economy was leaking funds from NNPC and other money-generating agencies looting funds and refusing to remit funds into federal accounts.
6. Madueke opened dozens of illegal accounts and looted billions of dollars under her nose, but the incompetent woman looked the other way.
7. The same incompetent and clueless woman and Jona stole $2 billion and gave it to DASUKI ATM to share with their crooked and corrupt PDP cronies.
So, the useless woman managed our economy so good that she was prescribing recession, introducing austerity, borrowing hundreds of billions till her last day in office to pay workers salary.
She was so good that she left us with a battered and undiversified economy, depleted ECA and foreign reserves.
You people are just too ignorant and clueless, you think we arrived at this stage by accident.
This woman introduced austerity measure and asked you to get ready to suffer when oil was selling for $78, but you want to like like a king when oil is selling for $27.
Benbellamor: I knew See What you guyz are reduced to, pressing the IPOB BUTTON....Eemi Laye mi..
Olodo rabata oju eja lomooje See your life i am a yoruba man,(lati ilu ikere ekiti) and i can tell that you are a yoruba Muslim who would impose on yourself the right to tell who is an 'omo yoruba gidi' and who is not, A useful idiots and accursed slave of the fulanis your slavemaster..FFK
yusufisalazyboy let him stop using free money but rather work with his hands e pain amm
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STFU with your ignorant and unintelligent ipob rant and poor bitter, disgruntled and frustrated village losers. Who is the president's son collecting free money from and how much is he collecting from anybody's father?
When you wake up tomorrow, make sure your broke ass go to the back and collect money with your akpu amebo story...
Only lazy and jobless losers like you sit on the internet, gossiping and troubled about other people's lives.
Now, ipobs are going to dictate to a grown man what to do with his own life. Is he dictating to you what to do with your gossiping, busybody and amebo life?
Worry about your own shadow and destiny because hatred, bad bele, bigotry, and bitterness can not put bread on your empty table.
cosmatika: Who takes a stupid jealous afonja serious. If u like dig up all d comments I've made on NL, I don't give a hoot abt a lowlife like u. Mudafuka
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lmao @ fake, imaginary and fantasy village doctor....
What's happened? Village doctors spend their days and nights on NL spewing afonja and tribal nonsense on NL instead of treating village patients with rashes and akpu overdose?
tonex360: The only thing you know how to say is unintelligent ipob, but am 100% sure that their level of intelligence can not be compared with you and your easily brainwashed dullered malams, aboki shine my shoe..
PMB should have achieved in 3 years what you crooked, corrupt and clowns couldn't achieve in 16 years even with all your looting, stealing and DASUKI ATM secondusk your boss stole our money from...
Abeg remains inside the graveyard Nigerians ut you inside..
cosmatika: U think every member of NL is lowlifes like u? I'm a medical doctor, and I have colleagues from medical school, Housemanship mates, fellow corper doctors and PLAB groups members. FYI, young doctors re leaving this shithole on dly basis
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cosmatika: Buhari the tribalistic, nepotistic,terrorist, corrupt, fura-sipping baboon
cosmatika: Even Afonjas know. They wish they have someone half as courageous as NK. Unlike Awo the sniper king
cosmatika: I read somewhere dat he advised Trump to give more Yorubas visa, den start producing Amala & Ewedu. Dat earned him d sack
cosmatika: DinoMayLie, the slayer of Tinubu & Afonjas, I hail u. Ngeneukwenu & Omenkadies & Sarrki will not like dis
STFU, you are nothing but a worthless raving village ipob loser and tribalistic bigot so stop forming.
The above quotes says a lot about your ignorant and unintelligent existence.
Lazy mentality fake and imaginary villager doctor. Who dash you?.
sexyanyabubakar: This Dictator that is shouting Recession, only to secretely pay himself and his ministers millions of dollars each month. His son Yusuf spends 56million naira on bikes. An unemployd confirmed Billionaire stayin at home. Zimbabwe and South african youths did not wait for the next election, because this lazy politicians will like to enjoy free money and will manipulate INEC results
Lazy Nigerian youth sitting online, gossiping and spewing baseless rumor with zero facts like market women...smh
naijaking1: River state have people, human beings, and their culture despite all the political hoopla. Buring the dead by sacrificing animals is a well established Igbo tradition you will find all over Igboland. Chituru Amadi's burial is no exception. It's only the uneducated that look down and call other people's culture backward, barbaric, or archaic. A little lesson in anthropology or sociology will do you a lot of good.
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The fact that your ancestors used to do doesn't mean you should in 2018 perpetrate the same thing. This is 2018, not 1809 or 500BC..
Back then when they bury kings, they used to bury their slaves alive with the king to serve them in the afterlife, but are they still practicing such evil and barbaric cultural nonsense today? No, they don't.
From cutlass carrying thug and backward governor carrying cutlass and threatening to kill his own people or the daily slaughtering and cult activities all over the state,.
Used to think Rivers state is a major and cosmo place, but it's safe to conclude that it's just another backward, barbaric, archaic and stone age village.
Cjrane2: 10 reasons why Buhari will lose 2019 elections
I will take time to write brief summaries on these issues which will weigh heavily on the chances of Buhari continuing as Nigeria's President after May 2019. For a variety of Nigerians, the decision to vote for Buhari can be summarized into one of the bullet point below. The question is whether our hopes in Buhari has been met or dashed. Do we feel fulfilled or disappointed with the President's activities and methods?
1. The Jonathan mismanagement that contributed to 2015 victory Under President Goodluck Jonathan, cabinet Ministers went wild with looting of government resources. The frustration was largely the seeming inability of GEJ to remove or punish the erring Ministers. The Petroleum Minister, Diezani Madueke easily comes to mind. A lot of sordid acts happened in NNPC that the former CBN Governor, HRH Emir of Kano Alhaji Sanusi Lamido Sanusi had publicly announced that about $20 billion dollars were unaccounted for at the NNPC. The regime of Jonathan practically swept the issue under the carpet and inadvertently allowed such percieved corruption to go unpunished. This weighed much in the determination of some Nigerians to show Jonathan the "red card" at the pools
2. The broken promise by Buhari to belong to all One of the most laudable things President Buhari did during his inauguration was to declare that he belong to all Nigerians. This statement rekindled some hope of national unity after the bitter but peaceful change of power from a Niger Deltan to a far northerner. Buhari's proclamation as many others he did turned out to be mere empty words of propaganda. From his appointment of cabinet Ministers, Service Chief and finally his speech at the United States Institute for Peace in July 2015 where he revealed his deep grudges against Nigerians he described as 5% who did not vote for him. Therefore, should not expect much from his regime. This statement drew a lot of reaction from the regions he made reference to as the 5% (Southeast and Southsouth). The low tempo agitation for independence of Biafra took off and gained mainstream relevance led by charismatic Nnamdi Kanu and the there was an explosion of sabotage activities in the Niger Delta by the Avengers. All of these actions impacted negatively on the economy and helped tilt the balance into an economic recession for the country. Things could have got worse and escalated, but it appeared seasoned former Heads of State had advised Buhari on the futility and risk of all out military action and the need to use the civil society in the regions to douse tensions. This was also tempered by the behind the scenes work of notable Nigerians to reverse the "Quit Notice" on the Igbos and we dodged the bullet as a country. Again, the immaturity of Buhari as a leader had pulled us into a recession and almost into a civil war in a short span of 2 years.
3. The mismanagement of the the anti-corruption crusade The war on corruption started on a great promise. Buhari had declared that all looters would be made to give up their loot, and the government would transparently publish the recovered loot and the names of the looters. The novel idea of whistle blowing was launched and indeed many people started giving up their loot rather than go to jail. Then it became clear that those pursued for looting were simply members of the opposition PDP and if a corrupt politician crossed over from PDP to APC, they would be "forgiven" and allowed to keep their loot. Many corrupt politicians immediately left PDP and registered as APC members and so the anti corruption war no longer had anyone to arrest or force their forfeiture of ill gotten wealth. That became the end of the hitherto promising "war on corruption" under Buhari. The worst part was that Buhari's personal friends such as the former Secretary to Government and others were furiously looting the national treasury through ridiculous contracts to import grass etc. The deputy Minister for Petroleum Ibe Kachikwu out of frustration listed that NNPC had not remitted a whopping $25 billion dollars fraud! The NNPC Group Managing Director Maikanti Baru and Kachikwu were invited into the Presidential villa villa and ordered to "hush" the issue. As we saw under Jonathan, the issue was swept under the rug and no respectable independent panel of external auditors were invited to investigate the issue. Till date, nobody has heard anything about the missing $25 billion dollars.
4. The mismanagement of the economy When President Buhari took over, there was a lot of hope that the economy would soon blossom. Indeed, the price of oil dropped due to circumstances beyond the control of President Buhari. However, we know regimes of President Obasanjo, Babangida and others had seen oil prices less than $40 dollars per barrel. Yet, Obasanjo was able to pay off Nigeria's foreign debt and embarked on a lot of laudable projects to boost the economy including completion of NLNG project amongst many others. President Buhari's immediate reaction to the lower oil price was to artificially restrict the flow of dollars and peg the Naira exchange rate at N200 to $1. This created a worse economic nightmare for CBN that had to sell dollars at below market rate to banks, who in turn gave the dollars to "selected" customers who had clearly bribed the bank managers. These customers went ahead to sell these cheap dollars at the true market rate in the black market and made huge profits while the CBN was depleting our foreign reserve to defend Naira at N200 to $1. When it became obvious that we would soon deplete our foreign reserves and there would be nothing left to defend the artificial exchange rate, Buhari reluctantly agreed to allow the naira depreciate and stop the practice of giving dollars to banks at ridiculously lower exchange rates. Unfortunately at that point, serious damage had already been done to the national economy which is still felt by every Nigerian till date. Again Buhari borrowed massively during this period which blew up the eternal debt from about $6 billion to more than $15 billion today.
5. The silence on creating jobs for the youths The youths were exhilarated that Buhari would bring back jobs and therefore voted massively for him in 2015. This was not the case as Buhari soon abandoned his promises to drive industrialization, develop the petro-chemical industries, stabilize power to improve ease of doing business and generally improve national infrastructure. The result of lack of any of Buhari's electoral promises was the rising incidence of armed robbery and banditry in the country. Nigerian youths traveled in droves through the desert in a futile attempt to reach Europe. Many of these youths were sold as slaves and horribly abused in Libya and other places for many years. It took the intervention of CNN to exposing these atrocities and shaming the Nigerian government to send planes to rescue her trapped youths in Libya. In the face of failure of the promises of new industries, foreign investors and new businesses to employ youths, Nigerian youths are taking to crime, drug abuse and prostitution to simply survive.
6. Impact of Buhari health issues One of the controversies of Buhari's candidature was his true age and when he actually finished secondary school. Buhari's official age was said to have been much younger than Buhari's younger sibling's age and the age of his peers in the army. This led to speculation that Buhari could have been much older than he told Nigerians. In a few months into his presidency, the effect of old age on governance was obvious. Buhari first complained about partial hearing loss and then he had to embark on two long periods of absence. In his long absence, governance feel apart and he was even rumored to have been in coma or died. Since Buhari hid his medical condition from Nigerians, he didn't want to give proper executive hand over to his Vice President. Therefore people like Maikanti Baru and other corrupt government officials simply flew to London and came back with purported signed contracts from the President from which billions of dollars were stolen from Nigeria. Under these circumstances, it was unclear who ran the country and massive corrupt practices happened in this period. It is noteworthy that nobody has been held to account for anything out of the fear of giving the impression that the president's long absence negatively impacted the country.
7. The failed promise to stop Boko Haram insurgency
In his iaugural speech, Buhari put Boko Haram on warning declaring the defence headquarters would temporarily be deployed to the northeast to neutralize the bombing of Boko HAram. These all happened to be mere words as the invasion of Sambisa forest was postponed again and again to allow Boko haram time to escape. When the invasion finally came and the President declare Boko Haram had been technically defeated, the insurgents replied him two days later with massive bombing on several locations simultaneously in the northeast. Since that day, like everything else, the fight against insurgency has been shrouded in secrecy. Nobody knows for sure what progress if any had been made. But the recent request for about $1 billion dollars and nearly constant bombings by the insurgents clearly tell Nigerians that Boko Haram is till alive and kicking despite the lies that we have been told.
8. Corruption and looting has continued in Nigeria Sadly, corruption had continued unabated under Buhari. Nigeria had indeed become one of the reference countries for corruption in the world under transparency international. This issue and it's impact on the economy had already been discussed above.
9. Fostering deep national divisions and disunity (The Fulani Herdsmen agenda) Through his actions and inactions, the avoidable clash between farmers (Mainly southerners and Fulani herdsmen- mainly northern fulanis) had led to several deaths. The seeming inability of Buhari to use the Nigerian armed forces against armed herdsmen who were killing villagers enmass and destroying their farms had led to deep national divisions and again threatening our unity. Highly respected Nigerians including President Olusegun Obasanjo and Gen Theophilus Danjuma has at various times openly urged the President Buhari to protect Nigerians living in their villages from the invading herdsmen. In frustration General Danjuma openly called on the villagers to defend themselves rather than fold their arms and be slaughtered. The fact that the invaders are Fulani who belong to the President Buhari's tribe and the victims are not the President's tribesmen has been used as explanation why the President would not act to punish tha invaders and save the victims. Instead, the President has called on the victims to cede their land as "Grazing zones" for the invaders.
10: Lack of responsibility for anything. (The blame game: Blame Jonathan: Blame PDP: Blame Nigerian youths: Blame Nigerians in diaspora etc)
The most outstanding attribute of President Buhari's regime is "Blaming game" If the blame isn't on Jonathan, it is PDP or oil price. More recently, the blame has shifted to "Nigerian youths" who have been declared as lazy and unable to engage in any economic venture. While some of these can be true, the overwhelming majority of Nigerian youths are extremely hardworking and innovative. In fact, Nigerian youths perform at par or beyond their counterparts when they go abroad. Nigerian youths created a music industry that still dominates Africa, a movie industry that is 3rd largest in the world and have excelled in numerous endeavors too numerous to count here. If the government of Nigeria especially under Buhari can be compared to Ghana or other African countries in terms of innovation and good governance, Nigeria would definitely have taken off as a great nation by now.
Finally, Nigerians must get their personal voters card (PVC) and make sure nothing stops you from participating and voting in the next round of elections. Stay in your polling station until results are announces, then use your phone to take pictures of the pasted result sheet and post here on NL and facebook. This is the only way we can collectively help to make Nigeria a better place and give red card to any bad government that had caused so much pain and suffering to Nigerians and their families.
If you do not vote and defend your vote by posting results, YOU HAVE NO RIGHT TO COMPLAIN LATER.
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Your village votes did not matter in 2015 and it definitely won't matter in 2019.
Even sef, SE, and SS votes won't be block votes because worthless Jona the unifying factor is now irrelevant and his own ijaw people cannot even stand him.
tonex360: Mr. I know your type, claiming to know all but never achieved anything, only to speak empty grammar. Elementary school ko.. am pretty sure you haven't got any degree not to mention masters.
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Can't be bothered with another typical ignorant and unintelligent ipob..
cosmatika: I know at least 5 nigerian medical doctors that are below 30yrs that left Nigeria for UK ystday. The failed shithole is driving our best brains away. The only reason I'm still here is because I'm waiting to vote Bihari for 2nd tenure so that those that wanted to punish d Igbos by voting him in d 1st tenure will continue the suffering
You don't know and have never met any 5 Nigerian doctors exiting Nigeria.
What happened? All 5 of them came to you to narrate their ordeal and future plans to you? They even gave you their age, travel plans, and date of departure?
You ipobs can lie sha.
We know you ipobs rejoice at any kind of negativity and anti-Nigerian sentiments, but must you lie and fabricate rubbish and silly nonsense just to display your hae and bitterness against Nigeria?
tonex360: Stop consoling yourself cos you are among those he's talking about, if someone attribute those things to u then what are u? I should be telling u to be mentally wise.
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Go back to elementary school for the proper understanding of the word lazy
You can not substitute your own ignorant meaning, opinion, and translation with what was never said or asserted by the President.
This is how lazy, illiterate, incompetent and ignorant Nigerian youths fail WAEC.
It is not a debate that Nigerians are fed up with the present administration of Muhammadu Buhari
Speak for yourself and stop generalizing.
Inioribo Tamunotonye is the National Secretary and SouthSouth Coordinator of Nigeria Youth Project and also the National Coordinator of Peoples Democratic Party National Youth League. He writes from Abuja. https://politicsngr.com/markarfi-credible-alternative-nigeria/
I see you don collect cash and carry brown envelope title and positions..
E be like say PDP still get money left to pay internet town cryers and essay writers.
TonyeBarcanista: Oga PDP remains the only party that is firmly rooted in every nooks and crannies of the 774 LGAs that makes up Nigeria.
Election for Presidency is different from Big Brother Naija contest, this one has to do with grassroots and PDP is the ONLY party that is known by all Nigerians.
The same crooked, worthless and incompetent PDP Nigerians trashed inside dustbin?
Well, to dream is free of charge, so carry on. e go do you life film trick all over again..
tonex360: Simple question please. Can u simply tell us what those statements tells, if laziness didn't summerise them.
Laziness is your own personal opinion since the President uttered no such thing and what the president asserted carries so many meanings from lack of will or initiative, not being proactive or creative and so on and on and on...
Confining yourself to a single story or narration is mental laziness and lacking in intellectual curiosity. .
trillville: your comprehension skills are seriously lacking. I gave an analogy, an extreme one to make my point and neither called the president a drunkard nor his beautiful daughters prostitutes.
I am a buhari supporter. I just simply realise that him and his generation lack the ability to make the changes necessary to improve Nigeria. As much as I like Buhari, I love Nigeria more. If this is a crime, then I am guilty as charged.
By the way, although I do not support secession or even restructuring that gives resource control to the ND, I tend to like Nnamdi Kanu because I believe he is (was) passionate about improving the welfare of everyday Igbos. Where I disagree with him is in how he was going about getting what he wanted.
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You are not making any sense.
Just because many Nigerians are unruly and difficult to manage doesn't mean the president is nod doing a great job.
Nigeria is many times better and on a better path than where we were 3 years ago and the fact that many of you are raving mad because the president stated the obvious truth about a segment of our population means nothing.
For any leader to make changes, he or she must first honestly recognize and acknowledge the problems and realities on the ground and this is what the president was driving at, this is the mark of good and honest leadership even though I know many of you like and are used to the lying politicians and crooks sceeming and lying to you while they ignore your problems and worries.
If you really like your country more than the president, why is it so difficult for many of you to deal with the truth?
Or would you like me to show you so many stats and data out there depicting the same thing the president asserted or even worse?
Politics › Re: Ngozi Okonjo-Iweala's Revelation About Donald Duke & Omoyele Sowore In Her Book by deomelllo: 7:53am On Apr 23, 2018
