BE OBJECTIVE IN READING THIS. MAYBE IT MA Y MAKE SENSE FOR ONCE
"Under President Olusegun Obasanjo, the highest price oil sold for was $60, and production was less than 2mbpd for the most part.
He parted with $12 billion to settle foreign debts, and still left FX reserves of $43 billion, out of which $9 billion was excess crude savings.
Under President Umaru Musa Yar’Adua, oil went up and down, hitting $147 per barrel at some point, and sinking to $31 at its lowest.
With that, Yar’Adua raised FX reserves to $62 billion by September 2008 — the highest in our history.
This is where the Jonathan team loses the argument.
Oil sold for between $70 and $120 during his first four years in power (2010-2014) before the downward slide to $50 in 2015, when he left office.
If our reserve management was anything like what we had under Obasanjo and Yar’Adua (when, by the way, Professor Chukwuma Soludo was the CBN governor), Jonathan could have left at least $100 billion in the reserves.
If Buhari had inherited such a heft kitty, the naira would not be gasping for breath today.
Clearly, our failure to build an FX war chest in the time of plenty exposed us to the infectious diseases we are battling with today.
Why couldn’t Jonathan build robust reserves?"
-Simon Kolawole, Thisday Newspaper
Most Nigerians don't realise we've been living in The Matrix.
This subsidy removal is the red pill that may wake us up to reality.
We are poor.
We are broke.
We've been raped, pillaged, looted and left for dead.
All these years our economy has been sustained on the junk food of corruption.
We have kwashiorkor but because we look chubby we think we are healthy.
Those two bedrooms in Abuja going for N700 million. Those make up artists charging 500k and pre-wedding photo shoots for 700k. Aso ebi for 90k.
Buying Rolexes and Ferraris.
Range Rover Sport all over Lagos like keke napep.
It is all fake.
It's all a mirage.
We've all been living off the spoils of corruption.
That's why the country is so hard now. No money circulating.
Because no money to steal and rent flats and shops for girlfriends.
For civil servants to pay bogus tithes of N500k.
For senators to spray dollars at their daughters' weddings.
For Lagos BIG Boys to spend N2m every Friday night at nightclubs and AY Live & other Comedy Shows.
It's time to face reality.
The party is over. Now we may see the real Nigeria and Nigerians.
Now that money will go into our roads and bridges and hospitals.
It will benefit those who don't have a rich corrupt uncle with connections in oil and gas.
Those who can't travel to Dubai to celebrate birthdays.
Those who don't know what Coldstone ice cream tastes like.
Hopefully the Real Estate markets will surely crash.
The theives with 15 houses in Abuja FCT with uncountable fleet of luxury automobile will definitely be forced to sell them fast for cash.
I would prefer if EFCC seized and auctioned them, though.
All those in the service industry will have to revaluate their pricing.
You can't charge 500k to paint faces anymore; free money don finish.
Welcome to the REAL world.
THE PARTY TRULY IS OVER!!!
you keep going back to that Vomit called savings, where you not alive when the FG then was taken to court to share teh savings? where you not? my advise for you Ask your own state Govt what they did with thier own share. I am tired of this raining day savings matter.
oduastates: Putting 4 five million dollars locomotives on rail tracks rehabilitated and paid for by his predecessor is nothing to be thankful about. Show us one thing he paid for out of the $500 billions
So upgrading all the lines from narrow gauge to standard gauge cost $4m,you recon yeah??
Wtf has he done to the railway service except buying about nine extra wagons for them? What is so special about buying something that costs roughly about$30,000 each?
If you guys have never seen a train in your life or have one pass through your backyard. ...then sorry about that
But the railways have been working as far back as i know them and i know they were a constant nuisance all through my high school when they passed through every Wednesday even to the point we were made to pay N10 fine per student as far back as 2003 when a recalcitrant student stoned the cargo for Peugeot Nigeria carrying some exotic cars from Lagos to Kaduna.
So you guys can STFU. The rails are still damn slow and takes an eternity to get to your destination. There are constant breakdowns. No new improvement from what it was 60 years ago. No online booking. No onboard entertainment. For Goodness sake they still use the N1 ticket they have as far back as the 1990s as proof of payment.Just the same old slow jalopy.
If this is what you want to celebrate as an achievement then goodluck to you.
But they got to start from somewhere. NB flash back 2001, Ealing Broadway station had no ticket barrier.Trains still brake down in teh Uk, Home of the railway.
Adminisher: IGNORANCE is thinking there was no railway in Nigeria before Jonathan came. Jonathan's impact on the railway system in Nigeria is less than 5%. A lot of the noise was just LIES. There was a railway network of thousands of miles BEFORE Nigeria was even founded . The youth of this country have been lied to too many times and they just stupidly absorb it . These cattle from Zamfara is neither Buhari or Jonathan's doing. The man to thank is a half educated but tough leader guy called Lord Lguard
Upgrade your reasoning a bit and be clued up about modern days argument. what you had then was Narrow gauge rail line and that's gone out of existence.I believe you know we changed into standard gauge rail track in Nigeria since the PDP govt came into be hence we are all making noise
oduastates: Just like Jonathan brought 1 Facebook to Nigeria , 2 increased the GDP from 0 to the largest. 3 Made Nigeria into the world largest rice exporter with farms that do not exist Bunch of Villagers
Trains running from lagos,new York city to Toronto in 2009
The clown was looking for low hanging fruits to campaign on after stealing or wasting $500 billions with nothing to show for it. He put a few trains on ancient track paid for and rehabilitated by Abacha,Abdusalam, Obasanjo,yar adua. He then went around town shouting transformation even though it had nothing to do with him apart from the 6 locomotives he bought. Nigeria has been buying locomotives since I was born. The only constant is the snail trains and epileptic services .The main problem persist(It is an antiquated problem). . The damn train breakdown, constantly derail until the next batch of locomotive is bought. Not until obasanjo rail Road map did something Nigeria start to get serious. He set the ball rolling with Kaduna Abuja standard rail project. The road map was essentially derailed by the looting of the treasury by Jonathan and his 49 thieves. Buhari has brought the rail Road map back on track.
Oga you and the 100 people who liked your post should relax and understand the world arround you B4 making such statement cos you sound a bit silly, Check that video you posted, it was all narrow gauge rail track, which the world no longer use, hence previous govt could not even buy used trains to replace the dead ones,it was during the PDP led govt of OBJ/GEJ that the tracks where all upgraded to Standard gauge hence we are all making noise .the reporter even highlighted it on the 2nd video, the so called dead trains GEJ bought would never have ran on the Old narrow gauge same as this one conveying cattle.So for the benefit of those of you who used railway in the 80s you where on a narrow gauge track simple.
herzern: Thouqh......The Church took it to the extreme buh Tithe-payinq is necessary....
Read the book of Malachi....
The Church pays tithes from the tithe they also collect.....they feed widows and orphans!..... 8
ATHEISTS.......PLEASE DONT QUOTE ME
Check whom the thites where paid to.was it not the levites.now ask who are the levites of today?? it should be of free will . Also check the meaning of widows might
herzern: Thouqh......The Church took it to the extreme buh Tithe-payinq is necessary....
Read the book of Malachi....
The Church pays tithes from the tithe they also collect.....they feed widows and orphans!..... 8
ATHEISTS.......PLEASE DONT QUOTE ME
Check whom the thites where paid to.was it not the levites.now ask who are the levites of today?? it should be of free will . Also check the meaning of widows might
thedarkside: i can definitely asure you that this new toys were not bought in the time of jonathan...
buhari is already in charge for nearly two years....many things changed in two years..they people that needed the money are receiving it directly from the goverment...
jonathan is a democratical-tout...
SO you still hooked on this issue of procuring arms for teh NA? seriously, has it not occurred to you yet that it was all politics? and indeed that past FG bought all you see today? let me state here the present FG has bought nothing for the NA if not thay would have broadcast it on CNN.These you see where the supposedly equipment that where not bought by Dansuki gate, btw, where is the Dansuki? heard a pip from him again since they asked him to come testify?
Oche211: Even though u might want to condemn this open display of force, u might also want to look at it 4rm another angle. It's to show the citizens that d soldiers ve got their backs nd d criminal elements that there's a new sheriff in town nw. End of honeymoon. #OpsCrocodileSmiles
that should be moved to Bayelsa and Delta.Nah there the Avengers dey.
Mrs Akinjide doesn't want to spend some time in Kuje Prison. Little wonder she returned d FG yam illegally eaten.
so to receive campaign funds is now a crime . Or am I missing something here . Did any of you follow the Obama election campaign ? For the past 20 years the only person sponsoring his campaign by himself in the USA is Trump .
adedayoa2: but you know when you date this one, date that one, you end up getting over twentt boyfriends before you finally get the one, hmmmmmmmmmmmm, they are counting o.
well is that not the world we now live in? if we go by the way you put it, U need to know and trust a person b4 marriage and teh process of doing that is called dating.So go fru uncountable boyfriend or say yes to a guy you like and get married, which way?
adedayoa2: she doesnt need a personal experience, you dont force yourself to love anybody. Moreover, all those couples that kill each other these day, maybe their love was one sided. I cant marry a man I dont like, love too much sef
last time I checked u don't get approached on street for marriage it's always after months of dating . Now if you know in ur mind u can't marry this person Y continue with the relationship . This is where it gets messy
Ok a Lil brain teaser . Who amongst you ladies is above 35 years and not married here ? Who is brave enough to admit it??Let's see your frame of MIND . WHO ?
Nori: Lol. It's just quite irritating when men feel that women must always accept their advances because we are women and should be desperate. Everyone has a right to chose. And I don't belief a man is better because he is richer or more handsome, neither is a woman better because she is more beautiful. Its called having a choice.
This brings back the question in the Nigerian context 6 pack or 6 cars
Precel1: hmm simple fact is that's it's actually true but a reasonable fact is ... should a girl marry a guy she doesn't see herself loving in the next couple of days, weeks or months? #f*ck that shit of love grows with time o
love actually grows and the reason to see if you will love someone is a reason you should date.
Nori: Is it by force to accept advances from a man?? Is it not better to be single than marry a man you don't love? What your saying doesn't make sense at all, and what makes u think the person u married is even better, because she is more beautiful. Maybe she was just more desperate.
God to will give the girl a more handsome and richer guy who is better than you
all what you said is all well and good BUT girls have expiry dates . That's when no one prizes ur mkt . Wen fat time comes U become despirate not u per say .
GoldenJAT: what has dollar got 2 do with our currency?is it dollar we are using in nigeria?how u de even reason?
see your own reasoning na backward one.the true value of the money can only be valuation via stable currency ie dollar cos the price of raw materials and imports and export are quantified in dollars