₦airaland Forum

anonimi:
You should VERIFY what oil boom is Soludo talking about then come back here to discuss further. Okay

Meanwhile in case you missed it, let me serve it to you again:

The oil boom he is talking about is when price of oil per barrel was around and above $100. Instead of Jonathan saving more than his predecessors, he was squandering what was in the reserve, eating up the massive income and also borrowed even more than the previous regimes. Also poverty rate increased in the mist of plenty.

That is reason why immediately there is a decline, Jonathan is having problem funding budget, paying salary, etc. The summery is that Jonathan has mismanaged the economy - So why then should we reelect such incompetent individual to preside over Nigeria especially when we are on the brink of economic collapse because of his inefficiencies?

Nigerians need Buhari - a man who will Not tell us that stealing billions and trillions is not corruption. Vote for Change.

Jonathan is a Zoologist. So is your Child an animal for you to send him/her to one of Jonathan's Zoo? God forbid.

@OP, Nigeria has more pressing need for good leadership - all of PDP's distractions, gossip and frivolities will not stop us from replacing these failed and clueless hands piloting the affairs of Nigeria.

Vote for Buhari for a positive Change.

anonimi:
Where/How did you get the information that our economy is in a downward trend?
Please share the details.

Here is Soludo's response to the bold:

"The parallels with the Shagari regime are troubling. First, at the time of oil boom, Nigeria again went on a consumption spree such that the budgets of the last five years can best be described as ‘consumption budgets’, with new borrowing by the federal government exceeding the actual expenditure on critical infrastructure.

Second, not one penny was added to the stock of foreign reserves at a period Nigeria earned hundreds of billions from oil. For comparisons, President Obasanjo met about $5 billion in foreign reserves, and the average monthly oil price for the 72 months he was in office was $38, and yet he left $43 billion in foreign reserves after paying $12 billion to write-off Nigeria’s external debt. In the last five years, the average monthly oil price has been over $100, and the quantity also higher but our foreign reserves have been declining and exchange rate depreciating.
I note that when I assumed office as Governor of CBN, the stock of foreign reserves was $10 billion.

The average monthly oil price during my 60 months in office was $59, but foreign reserve reached the all- time peak of $62 billion (and despite paying $12 billion for external debt, and losing over $15 billion during the unprecedented global financial and economic crisis) I left behind $45 billion. Recall also that our exchange rate continuously appreciated during this period and was at N117 to the dollar before the global crisis and we deliberately allowed it to depreciate in order to preserve our reserves. My calculation is that if the economy was better managed, our foreign reserves should have been between $102 –$118 billion and exchange rate around N112 before the fall in oil prices. As of now, the reserves should be around $90 billion and exchange rate no higher than N125 per dollar."

"Fourth, poverty incidence and unemployment are also simultaneously at all-time high levels. According to the NBS, poverty incidence grew to 69% in 2010 and projected to be 71% in 2011, with unemployment at 24%. This is the worst record in Nigeria’s history, and the paradox is that this happened during the unprecedented oil boom.

One theme I picked up listening to the campaign rallies as well as to some of the propagandists is the confusion about measuring government “performance”. Most people seem to confuse ‘inputs’, or ‘processes’ with output. Earlier this month, I had a dinner with a group of friends (14 of
us) and we were chit-chatting about Nigeria. One of us, an associate of President Jonathan veered off to repeat a propaganda mantra that Jonathan had outperformed his predecessors. He also reminded us that Jonathan re-based the GDP and that Nigeria is now the biggest economy in Africa; etc. It was fun listening to the response by others. In sum, the group agreed that the President had ‘outperformed’ his predecessors except that it is in reverse order."

First, my friend was educated that re-basing the GDP is no achievement: it is a routine statistical exercise, and depending on the base year that you choose, you get a different GDP figure. Re-basing the GDP has nothing to do with government policy. Besides, as naira-dollar exchange rate continues to depreciate, the GDP in current dollars will also shrink considerably soon.

We were reminded of Jonathan’s agricultural ‘revolution’. But someone cut in and noted that for all the propaganda, the growth rate of the agricultural sector in the last five years still remains far below the performance under Obasanjo. One of us reminded him that no other president had presided over the slaughter of about 15,000 people by insurgents in a peacetime; no other president earned up to 50% of the amount of resources the current government earned from oil and yet with very little outcomes; no other president had the rate of borrowing; none had significant forex earnings and yet did not add one penny to foreign reserves but losing international reserves at a time of boom; no other president had a depreciating exchange rate at a time of export boom; at no time in Nigeria’s history has poverty reached 71% (even under Abacha, it was 67 -70%); and under no other president did unemployment reach 24%. Surely, these are unprecedented records and he
surely ‘outperformed’ his predecessors! What a satire!

"One of those present took the satire to some level by comparing Jonathan to the ‘performance’ of the former Governor of Anambra, Peter Obi. He noted that while Obi gloated about ‘savings’, there is no signature project to remember his regime except that his regime took the first position among all states in Nigeria in the democratization of poverty—-mass impoverishment of the people of Anambra.

According to the National Bureau of Statistics, poverty rose under his watch in Anambra from 20% in 2004 (lowest in Nigeria then) to 68% in 2010 (a 238% deterioration!). Our friend likened it to a father who had no idea of what to do with his resources and was celebrating his fat bank account while his children were dying of kwashiorkor. He pointed out that since it is the likes of Peter Obi who are the advisers to Jonathan on how to manage the economy (thereby confusing micromanagement which you do as a trader with macro governance) it is little wonder that poverty is fast becoming another name for Nigeria. It was a very hilarious evening."

"My advice to President Jonathan and his handlers is to stop wasting their time trying to campaign on his job record. His record on the economy is a clear ‘F’ grade. As one reviews the laundry list of micro interventions the government calls its achievements, one wonders whether such list is all that the government could deliver with an unprecedented oil boom and an unprecedented public debt accumulation. I can clearly see why reasonable people are worried."

EUROBOMBER:
With the falling oil prices, how does Buhari intend to generate/raise the money needed to do all these?

1. Cut down the cost of running government. Buhari has already promised to work with the National Assembly to review the earnings political office holders across board. Currently over 80% of the budget go in for salaries while only about 20% is left for capital projects and development.

2. Buy diversifying the economy, government can earn better revenue to develop Nigeria.

3. Buhari also has promised devolution of power so that States can have power and control oven internally generated revenue. This will encourage healthy competition among State to generate additional revenue. Remember that the Tax Code will be uniform so that some State Government will not be exploiting the masses.

A vote for Jonathan is a continuation of his failed economic policies that have not impacted positively on the masses.

While a vote for Buhari is a strong statement that we want change and set of new competent hands to take progressive measures that will benefit every Nigerian (rich or poor).

Vote for Change, vote APC.

While Jonathan is busy searching for certificate he knows exist, looking for phone numbers and preparing for marathon with his opponents, Buhari have been busy outlining his plans for Nigeria.

On Economy:
- Diversifying the economy by exploring and boosting other sources of revenue for the government.
- Investing and developing other sectors like Technology, Agriculture, Mining, etc to boost revenue.
- Curtail Corruption in the system to help prevent funds that are blatantly looted by government officials and re-invest them in capital projects.
- Make funds available to new and existing small-scale businesses in order to empower Nigerians to grow economically.
- Review all existing Government economic policies to streamline them for better implementation.
- Open up mining exploration across Nigeria for job opportunities.
- Invest in Education and Healthcare delivery as a long term effort for Human Capital Development.

These and many more. You can read more at www.thisisbuhari.com and get updates on https://twitter.com/ThisIsBuhari

As lawyers don't they know the way to the court?
#Political-Jobbers

This February it is Sai Buhari - no going back! Jonathan start packing.

Jonathan's supporters mumunizing in lies and falsehood.

Change is what we want and a Positive Change we will get. Sai Buhari.

Nigerians have rejected Jonathan - FACT.

Come this Valentine 2015 is the day of confirmation and a day of joy. Gate fee = PVC.

liberty300:
why? Because they're doing their jobs? That's weak even for your type

Because they are sending IGP on a yeye errand when they should have gone to court if they believe the lies they have been brandishing.

AlfaSeltzer:
We will never do the bolded. Not yet anyway as that's what APC wants.
We have buhari by the balls as admitted to lying under oath. If he actually is involved the forgery of that released result, then he is done for.

Shame on you. Now you agree it is all political propaganda and have nothing to do with fact. PDP character assassinations will not stop Jonathan from getting kicked out the FeBuhari. Go mark my words.

Bernard Ogedengbe and others were international drug traffickers. They died buy firing squad. The only contention was if the law should have applied to them. But the fact that they were guilty, is not in any contention.

Tomorrow when Buhari arrest and put Terror Sponsors and SheCow on trial, don't forget to come and tell us that the highest punishment should not apply because when Boko Haram killed over 15,000 Nigerians Buhari has not been elected President.

eaglechild:
Who verified the story above.

These people were jailed without due trial.

Liar. Even Jonathan when he came to Enugu to campaign clearly said Jim stole money but that the $5.1 million was not even enough to buy a Peugeot car. You should start intensive treatment with Anti-Corruption medication, you are getting contagious.

Jonathan is extremely corrupt to be defending this.

So instead of going to Court to challenge the authenticity that Buhari have requisite Certificate, the PDP are now sending the IG of Police to journey of insanity. Is this another Tambuwal 2.0

No threats and distractions of PDP will stop Nigerians from kicking the Failed Zoologist.

Mbag:
what is de latest about de CERTIFICATE sarger ?

If by now you are still asking this, then PDP still have you in a corner man-handling and abusing your senses. Please librate yourself. What you have to know is that Buhari is qualified to contest. The courts are open for PDP.

What is important to Nigerians now is how to elect Buhari to fight corruption, build infrastructures, create job opportunities, revive and diversify the economy and empower Nigerians to be better. PDP distractions will not stop us from voting out the failure we are into.

OP always add link or Source.

Come this Valentine, it is Sai Buhari all the way. We choose quality leadership over sentiments and excuses. Time to revive the economy, build infrastructures, stop corruption, create real jobs, improve Healthcare, Education among others.

www.nairaland.com/attachments/2054179_genbuharisbigfamily_jpeg47bd24f3ed2efb9ede220106739aff28

Sai Buhari this Valentine.

[img]http://storage.jumpshare.com/preview/So6u6pS2igBBwJM-9KlCWisH1nnxCKFET0_Hhl9KCYI9XDwGF-aZ_Q2BCOHrQvAL_89bmg1m-ggHqp4w28fanw[/img]

ayukdaboss:
This type of throw back news about Buhari never hits FP.

If it was one concocted lies, it will be rushed. I hope the mods will do the needful.

God bless Nigeria!

This FeBuhari, is all about Nigeria. To God be the glory.

Good and comprehensive piece.

Once Buhari is elected, his major task will be to put together a competent "Team Nigeria" to rescue this nation from the ugly mess we have sank into. I wish men like Soludo will be part of it.

Sai Buhari. Help on the way.

[s]

mikeansy:
In case you did not notice my previous point is still life and clear if you scroll up and all man can read it

I really dont understand the wisdom of taking the pains to duplicate someone's post and the cancel the duplicate while the original is still clear on the world wide web for all to see?

smh!!!!!!!!!

[/s]

NEXT!

[s]

masterpower:
APC SHOULD BE PREPARED FOR THIS WAR THEY ARE INVITING.

THE APC WILL CERTAINLY PAY FOR ALL THESE. IF YOU WANT TO JOINT THEM PLEASE DO BUT IF I GET YOU, I WONT SPARE YOU.

[/s]

Stop disgracing yourself. Leveling allegations here and there makes you a dunce. The police exist for a reason, let them do their jobs.

[s]

mikeansy:
someone that could not create any known business since being retired from the army?

you cant give what you dont have.

You dont have to be President to create jobs

Buhari has no business nor does he support any NGO, he does not have to wait to be elected before creating jobs. I can not trust his to create any jobs if elected.

[/s]

How many grams of Coal did Jonathan mine in over 4yrs? Or is it the 25yrs Bridge Toll Gate that will make us vote for him?

Curlieweed:
And the coal industry will support 1 million jobs? Will they dig for the coal with spoons just to create jobs for that many people?

Buhari is an embarrassment to mumus.

You are definitely ignorant of the process, workforce and opportunities available in Coal Mining. Years of PDP suppressing your curry brain is taking a great toll on you.

The job opportunities the Coal Mining in Enugu will provide is more than One million jobs. It is not limited to the Mines.

He promised to revamp huge coal deposits in Enugu State. Anyone that know will tell you that in the Old Eastern Region, Coal Mining was the largest employer of labour in Enugu - second only to Civil Service.

Always Future Tense. E.g: Boko Haram will soon be a thing of the past.

Is it currently in full capacity OR Yet to?

OP when did you Space Shuttle land?

Reality on ground is in favour of Buhari as the next President of Nigeria. Nigerians are ready to vote for Change.

- Unresolved party primaries hitting PDP.
- Mass defections hitting PDP
- PDP Presidential candidate yet to articulate a single plan for the future
- Jonathan's supporters contacting clueless infections.
- All the heavy-weights deserting Jonathan.
- His crowds in rallies dwarfing.
- GMB overtaking him online too; from twitter to nairaland, etc.
- Rejections, even his footprints swept all over Nigeria whenever he visits.
- His wife banned from entering Bayelsa.

Jonathan/PDP are getting serious beating left, right and centre.

www.nairaland.com/attachments/2044388_apc_jpegac400acfc063c990eecab1effb6ce5fc

Nigerians are united, Jonathan Must Go - Sai Buhari

changes1:
I agree with you o. but I can't even reach the costumer care agent..

By the time the answering machine tells you to press 1 for bla bla bla, press 0 to speak with an agent, and then you wait for the agent to pick, its already 5 mins and then the call ends.

I've tried it several times..

Thanks.

Since you are online, try Live Chat - http://www.gloworld.com/ng/support/customer-care-channels/
Also you may consider email, twitter and FB.

Really don't which will work, but compose you message and try all the possible option. All the best.