₦airaland Forum

plaetton:
Op.

You are a big liar.

As of October 2015, Nigeria's external debt stood at around $10b.
In FACT, $8b to $10 had been the average since 2008, long before Jonathan became president.

Therefore, Jonathan did not increase Nigeria's external debt by any significant amount.

It is on record that the current minister of finance is using Nigeria's very low DEBT to GDP ratio as a justification for seeking more external loans this year.

In your lopsided analysis, selective amnesia didn't allow you mention that OBJ inherited a Nigeria that had completely collapsed economically and politically.

He inherited a mere $3b in reserves and $38b in debt and oil price in the teens.
How did he and NOI do the magic?

Buhari inherited $30b reserves, $10b external debt and he is sulking and whining like a spoilt brat.

Be man enough to call incompetence and failure what it is: INCOMPETENCE and FAILURE.

All of you should go and hide in shame.

NOI who had worked as part of the economic team between OBJ lead Govt and GEJ lead govt. She understand the problem than you sitting behind the computer defending the indenfensible.

She was on the driver seat and busy steering the economy. Here is her statement in USA:

Okonjo-Iweala said the Goodluck Jonathan administration differed seriously from the Olusegun Obasanjo administration under whose administration the Nigeria government saved $22 billion, which she said, helped to cushion the dryness that came the way of the country at the end of the last decade.

“We saved $22 billion because the political will to do it was there. And when the 2008 /2009 crisis came, we were able to draw on those savings precisely to issue about a five per cent of GDP fiscal stimulus to the economy, and we never had to come to the Bank or the Fund.

“This time around and this is the key now, you need not only to have the instrument, but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but zero political will.

“So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in. Along with so many other countries.

http://www.vanguardngr.com/2016/04/nigeria-had-no-political-will-to-save-under-jonathan-okonjo-iweala/

ghostofsparta:
Macof, Folykaze will say this image is a propaganda to paint the innocent Fulanis evil.

No mind him, na dem be that.
And you say it with such delight.

??

I have argued on many occasions with my boss who is a fanatical PDP fan and Hausa hating tribal bigot that situation at the moment is not Buhari's fault but stem from absolute mismanagement and massive looting from past government which causing massive hit on our economic system. The wastage and spending spree by GEJ and his croonies make things worse. He is a visionless, clueless and hardened crook. He cared not about saving during the raining days. A small ant is wiser than he is.

But, do I need to continue arguing with a blind person? Make them con sack me wey another oppourtunity no dey?

I often put Government economics with that of private individual on parallel lines. A man who earned 147,000 as a monthly salary will have to take harsh decision when his salary falls to 27,000. Therefore, in order to save face and escape the hard condition, he has to save for the doom days. The standard of living when earning is 147k will be incomparable when earning falls to 27k. So one needs to preprae by saving for the doomdays.

Now on the Government part, Yaradua saved us from experiencing harsh condition in 2008-2009 by saving whooping 67b dollars. He took advantage of the oil boom and saved for the oil fall. His efforts sustained the nation for months running to a year period. This is a man with vision.

Jonathan came in with his voodoo economic team lead by World Bank puppet NOI. They had chances of saving when price of fuel rises to it peak but wasted their oppoutunity. They stole, wasted and shared among themselves our resources and reserve. When oil was selling below $60/barrel, Nigeria was borrowing to pay salaries. This is to show the damages caused on our reserve. We are exposed to harsh hit.

Buhari is a good manager. Even when Oil fell below $30/barrel, he didnt borrow to pay salaries like the fedora hatman did. The damages done to the economy is beyond imagination but he is doing more than enough taking his time and energy to keep us in balance. Nigeria would have been swept away if GEJ had won. I believe in Buhari with time will put Nigeria back on tracks

Shebi na ordinary vomit? Make dem give am mix maggi star in a cold water and give him to drink

That is Arsene Wenger on fire

Na all of them be that? Mtcheeeeeewwwwww. Dem no reach 200k.

Lagos state have more than 21m people living there. 200k or less NLC rogue can not do anything.

When the hand of law is brought in, Ayuba will cry witch-hunt. He is going against the labour law which guide strike. He is also not respcting court injuction which put the strike on hold. How I wish Buhari can order his arrest for causing public disturbance and anarchy.

Their strike means nothing as it changes nothing. They do not have the support

I dont understand why there is a conflicting report reagrding Weklas cross examination. What I read from another thread is entirely different from this. That one said Weklas do not have proof and could not justify his ground with evidence while this one is saying otherwise.

omenka:
Just to digress- guys, if you have a radio nearby, just tune in to 100.9FM2 (a radio station in Enugu) and hear what I call UNDILUTED WAILING!

Igbos no get the slightest love for Buhari or APC walahi. Shiit is real on the street not just on Nairaland!

Last caller on the program was just shouting and barking like a mad dog that he would "never forgive the government until they send an apology letter to Gooddaft Jonathan for resisting subsidy removal back then". Very pained soul. Make him go meet all Nigerians wey been resist the action collect apology letters from them na.

Nonsense and ingredients.

On Adaba FM 88.9 in Ondo State, people are calling in to voice their support for the Federal government.

They can hate over there. . . .their hate wont change anything

Mynd44:
https://www.nairaland.com/3111975/tuc-suspend-strike-while-nlc

Egbon this thing no dey work again.

Good one there.

Now to the stubborn Ayuba NLC faction. They should be ready to accept their sack letter or reduction in their monthly salary if they dare not resume to work this morning. Many Nigerians are willing to take over their offices.

The rest Union group should channel their energy into Salary increment, immediate payment of backlogs and allowances.

hisableplc:
Still open

Is it necessary to finance whole truck or one can partner up?

If one can partner, na I join?

denko:
I pity you, who told you subsidy has been removed what you are seeing is fuel hike. Osibanjo has made it clear that there is still subsidy.

Stop feeding public with your ignorance.

Subsidy has been removed since last year and there was no provision for it in thi year budget. A report from Vanguard stated that Govt saves million of naira daily from the removal.

VP was speaking on the new price regime is not because of removal of subsidy but because of the inability of the CBN to provide exchange for oil marketers.

haabimbohlar:
will appreciate more if you can expatiate more

Subsidy has long been removed and deregulation was set in motion long ago. Subsidy was not budgetted for in 2016 budget and immediately the President signed the budget into law, people must come to reality that Subsidy is gone.

When the President sent the budget to National Assembly, it was reported that there is no provision for Subsidy in the 2016 budget http://sunnewsonline.com/no-provision-for-subsidy-in-2016-budget-pppra/ . The budget lingered for months in NASS and was only passed into law on 6 May 2016. Immediately President accent the budget, the next turn of action is implementation of Budget. Therefore, since there is no provision for it, Subsidy can be declared dead and gone.

Now, on the issue of 145 naira par litre, the reality is that oil marketers have to source their fx from a third party. The expectation of Government is that marketers will source dollar at an average of about N285 to the dollar, (current interbank rate). They would then be restricted to selling at a price between N135 and N145 per litre. Government do not have enough fx to pay marketers as the later will take position of providing around 95% of oil products. The hike price was as a result of 285 dollar rate as against 199 naira officail govt rate. We are only paying more because CBN has pulled out of paying 197 naira per dollar and marketers will get dollar now @ 285 naira. So the difference makes the price drive up to 145 atmost.

The Vice president was right when he said the Government is not removing subsidy. The itch is that many people are not keeping tab with news coming from Presidency. Oil is selling @ 38 dollar. At that rate, there is no Subsidy required to be paid. In January, oil sells at 40 dollar and more and more profit was been made by the government. On a daily basis, government earn N647.2 million daily for removing subsidy. That is at the price of N86.50 per litre in petrol stations across the country, government was making an extra N16.18 per litre (http://www.vanguardngr.com/2016/02/savings-from-fuel-subsidy-removal-rise-to-n647m-daily/). This gave us savings amounting to N18.3bn between the period of six weeks http://nairametrics.com/nigeria-has-saved-n18-3bn-in-six-weeks-after-removing-oil-subsidy/ .

Like Osinbajo stated, Subsidy has been removed long ago and the current new price regime is not because budget was removed recently as believed but because CBN cant afford to provide dollar for oil marketers and the later have to source for exchange from a third party who will sell at 285 naira per dollar as against 197.

I hope this help

holluwai:
But I think the president or his vice should approach Nigerians on national tv and explain this things better to Nigerians so we will know exactly what we will be facing, how long and if possibly which most likely should be, alternatives be provided. They're just forcing this change on people and it's very uncivilized.

The Minister of Petroleum has done that.

And there is this town hall meeting where Ministers and Vice President address people on the condition of the state and economy. The issue of Subsidy removal was discussed there. Lot of Nigerians were attandant and was coverage live. One hold in Lagos and other in Kaduna. Keep tap with news.

haabimbohlar:
of course they will support, to be honest there wont be any strike.


i really want to be enlighten
they keep saying removal of subsidy but the vice president says there is no such thing but the hike in PMS is because there is no enough fund in the circulation at the moment.

What is the real situation?

this is what Mayflowa has as a reply for you.

Because as at that time the subsidy difference was no more than one naira and it was on government favour. At a point government get 6 naira for every litre of fuel you buy.

Right now, the subsidy difference is still not up to 10 naira. We are only pay so much more because CBN wanna withdraw from giving importers of fuel dollars at197 naira. They assume they will get dollars in black market at abt 285 naira. So the 145 naira per litre is to cover unofficial dollar rate.

Hope u get the gist

Mynd44:
https://www.nairaland.com/3110703/breaking-court-stops-labour-going

Catch me if you can.

O lock e ti.


Lol

People are adding their support to the removal of subsidy and deregulation of downstream sector. Many faction of Labour have pulled out and are not ready to crumble the economy. NLC and TUC is a little percentage compare to people in support of the goverment new price regime. Their protest is dead on arrival.

woodboi:
This is what i call change... we are in for deep shit, we can't even exercise our right freely.

Nigerians have right to protest. Afterall, IMSU students protest against removal of subsidy. A Bishop in Osogbo protested yesterday too. These people were exercising their rights freely without been harrassed by the government.

However, NLC and TUC should not be given right to shut down the economy because of the disagreement they are having with Government policy. The protest is senseless and will not serve the nation interest. A grounded economy will make the situation worse. People will suffer needlessly because of griviance Labour union has with the Government.

Labour union represent a microscopic percentage of the Nigerians. Majority of Nigerians are in support of removal of subsidy and deregualtion of the downstream sector. Even, agencies attached to Labour Union have added support to the voice of the people and Government, throwning out the idea of shutting down of the economy. Watch the interview by TV stations and Radio, people are on the government side here. The people have spoken and are ready to endure till the storm is over. Therefore, NLC and TUC is irrelevant in their quest.

No one is stopping them from protesting. But they should not try and shut down the Economy as that will not serve the interest of the general public. If any member wants to go on with the protest, they should be sacked and serious minded people who can do the job should be employed.

NLC and TUC are better of returning to their duty and pray their salary is increased. Plenty body dey wey go take their job if they aint ready to work. We will not watch some pot belly lazy a s s to crumble our economy for their own interest.

Mayflowa:
Because as at that time the subsidy difference was no more than one naira and it was on government favour. At a point government get 6 naira for every litre of fuel you buy.

Right now, the subsidy difference is still not up to 10 naira. We are only pay so much more because CBN wanna withdraw from giving importers of fuel dollars at197 naira. They assume they will get dollars in black market at abt 285 naira. So the 145 naira per litre is to cover unofficial dollar rate.

Hope u get the gist

Thanks for the lecture

The budget was before them for some months. Minister of Petroleum was also in the chamber for his ministry defence. They could have asked him all necessary questions when they realise subsidy was not budgeted for.

No.

With time, the pain will be over. Why cant I bear it if I could endure partial removal of subsidy for four years, scarcity for six months and hiked price between Feb-May? Subsidy should just go. . .it is waste and pipe-drain off our commonwealth.

NLC and TUC should better go and sit down. Nigerians are not moved with their strike that have yielded no tangible result at any point in time. Strike will only make things hard for people. Business people will have their transaction grounded, there would be no room for profit. Those who work to survive on daily basis will not have the opportunity and we have to run their stomach empty for days. Strike would make nothing works as people will be hounded into more pains. We are suffering and Labour should not infringe more pains on the masses.

They should rather call for the increment of their salary, welfare and allowances. Also, state government should pay immediately for their backlogs. I think this would make more sense than subsidy strike as everyone including the masses will benefit from it.

Susidy is dusted and gone for good. NLC and TUC should better proest for increment in their salary and immediate payment of backlogs owned by state government.

Protest against fuel subsidy remover is dead on arrival

NLC and their sister TUC should go and sit their ugly a s s down. They have long lost the little relevance they have. These lazy brats can only bark and I am very sure cannot move Buhari and Nigerians with their silly protest. They should come up with a better idea on how to deal with government rather than this not-working barbaric strike that have done nothing good to both sides since time inception.

This proposed strike will make things harder more for Nigerians. They should rather protest for increment in their salary and immediate payment of backlogs from the federal and state service since prices of goods and services move toward North since Subsidy has been removed. This would make sense and lot of people will benefit from it. It would be a win-win for the people and the Union. The small marketers will sell their good normaly and make profit to survive the harsh time. The Taxi Driver, lil gal selling pure-water, Igbo man selling electornics and the Hausa mai-tea will benefit from this option. Protest and grounding of the economy will make the poor face more with nothing to gain on the long run. NLC and TUC should wise up. Strike wont work and will not be supported by well meaning Nigerians.

ghostofsparta:
Nobody tagged them Fulani, people have known who has been attacking them in their community as Fulanis or are you telling us it was bandits that laid siege to that village of peasants in Enugu, executed the Agatu massacre? Okay please tell us what they bandied away with and what the villagers must have done to these bandits to have them slaughtered ? And do note that you're much in defense of these murderous Fulanis that you fail to realize how sympathetic you're to their murdering deeds by not realizing your quickness to misuse the deceitful term 'rustlers' when you used it in your statement to mean that the attackers who're attacking the attacked are rustlers!!!

So who have I tricked here on NL for you to think me a trickster ? Mind you Eshu is not a trickster as some pro-Abrahamist writer/authors who're bent on rubbishing Yoruba Believe System has unfortunately made the likes of you think, Eshu is a great dialectician.

Eshu is the messenger and guide of the
Orisha, a companion on the road and the guardian .... the dialectician of reality, a cautionary spirit who teaches that reality has more facets than one. source

Where is the evidence that points that those attackers were Fulani?

The picture you people circulate in the internet were gotten from blogs and CNN webpage which is not in anyway related with Fulani but herdmen from Kenya and Ethiopia.

So Mr, you;ve got to prove that those attackers were Fulani and not just junk in the media circle set to blackmail the president and his people.

You are a trickster. . . .no let us discuss that here

ghostofsparta:
Based on their statement, it certainly means the presidency is privy to more accurate information than everyone to know the attackers were not Fulanis then their intel knows the source originating the attackers and their identities, why can't they tell us ? If the presidency reserve the authority to counter mass opinion of people who have known the Fulanis for more than five decades to be bellicose on their host communities, (and recently at Ibadan, Agatu, Enugu, Nassarawa, Jos etc where surviving witness who took safety in nearby town and villages knew for sure who their attackers are) then the presidency should also exercise that same authority to tell us who the attackers REALLY are because if they can authoritatively state the attackers are not Fulanis then they should be able to tell us the identities of who the attackers are.

The attackers are simply Criminals, Rustlers and bandits. Tagging them as Fulani without a tangible prove otherthan pictures from Herdmen in faraway Kenya is a demonic act.

Bros we are in religion section.

ghostofsparta:
and why do you think of me as the incarnation of Eshu ? So you still think Eshu is exactly the same as Satan the Devil of Abrahamic idolatrism ? And you call yourself an Orisha person. I assume you know better that not only is Eshu exactly the opposite of Satan the Devil but also that no other mythological entity throughout the world bears the same attributes or has the role function of Eshu (mind you Eshu like all other Orisha/Irunmoles are not mythological nor fit into the classification of 'mythology'). So as for you mistaking Eshu to call me 'Satan' I won't say you're truly confused yet as some of your responders think of you, because surely you have an explanation, I'm listening.

Wetin concern me with Abrahamic devil?

You are Eshu. . .trickster. Do not belong here or there

macof:
something is really wrong with you.


because I refuse to join you in "fulani butt licking" am now a demon

The presidency says the attackers were not Fulanis. It only demons that breed hate.

How ya side na?

The only ghost I know is Ghostofsparta. He is the incarnation of Eshu.

Macof is a demon. I know that for long

My friend Macof, have you read this report?

Terry68:
Since the west don start oyel production. Make FG allow the south south grounds to relax a bit.

Dem don try... Make we follow use oyel from 'west', develop all part of Nigeria.

What was left in Delta state, Bayelsa and the Niger delta creeks since Oil major companies moved their headquarters to Lagos? Those areas have returned to it shadow.

Business thrive with peace and not violence. Since Lagos offer peace, see every nook and cranny of Lagos feeling the impact of Oyeldollar.

We will develop Nigeria, Chad basin will soon contribute their quota. Ondo state is gearing up. You can go and drink your polluted water. . .Nigeria will live when you are gone

Lagos with his huge economic potential is adding Oyel dollar into her pulse.

The rich getting richer. . .the poor get screwed.