₦airaland Forum

Babacele:
the temporary empty stomach was caused by una pilfering and no sane Nigerian would go 'jewish' blaming this Moses from freeing us from una slavery.......something greater than food is in our bellies; it is called dignity. we shall defend it ,fight for it and protect it. Didn't we , empty bellies, removed the belleful thieves in 2015? Sai Buhari!

poiZon:
do u know why there is benchmark of oil price in every budget?
go back check the benchmark of oil price in gej budgets of the 4yrs he reigned n also compare to the benchmark states adopted for their budgets too.
I wont spend time educating u on the effects of benchmark.


trillions too will be looted under the illiterates watch, just keep listening n be prepared cos soonest u will start hearing news.

plaetton:
Unbelievable.
Your poor comprehension skills and intellectual paucity is a source of embarrassment to me right now.

And this is someone who opens a thread for 1.6 million Nairalanders to read.

But, on the other hand, Coming here to spank arrogant kids like you makes my Nairaland hobby worthwhile.

Firstly, read this.
http://www.tradingeconomics.com/nigeria/external-debt

Being challenged in comprehension skills, let me help you by highlighting the important points.

" Since 2008, Nigeria's external debt has Averaged about $6.3b, peaking at $10b in the fourth quarter of 2015 and a RECORD low of about $3.6b in the first quarter of 2009. "


As per your reference to SUBSIDY payments ballooning to N2 trillion , well, do the math.
Use your brain for once.

SUBSIDY payments ballooned for 2 main reasons.

1. Yes, the number of cars on Nigerian roads has been steadily increasing over the past 16 years along with the biggest expansion of the Nigerian middle class in well over 3 decades,..a middle class expansion Shepherded by the PDP led government.
Those are FACTS, stubborn facts.

2. Simple arithmetic, dummy.
The higher the price of crude, the wider gap in international prices and Nigerias government regulated pump price.
Therefore, I hope you're following, the government pays more and more in SUBSIDY for ever litre of fuel consumed in Nigeria.

And yes, as with everything distinctively Nigerian, there was fraud in the fuel SUBSIDY system.

Does that answer your questions ?

plaetton:
My dear friend,
How far?

I don't know why people get sentimental over simple issues of fact.

What exactly do you surmise that I am defending here?

I am here simply rebuking someone who came here to publish outright lies and innuendos.

Facts are facts, opinions are opinions.

If anyone wants to promote Buhari or wants criticize GEJ, let them do it with FACTS.

For example, look how the liar stated that Jonathan left behind an external DEBT of $63b.
A big fat, shameful lie.

Should I have just looked away and allow him to publicly hawk lies?
Remember, there are very impressionable people, young and old, on Nairaland.

Have a good day.

plaetton:
Oh gosh, I am getting really embarrassed debating with intellectual Lilliputians.

Every government in Nigeria has inherited Debts and other liabilities from the previous government.
That is the nature of governance.
Daahhhh!!

Government is a super dynamic entity.
Buhari is no exception.
We are simply tired of this Cry Baby.

What exactly did Buhari expect when he was campaigning against the previous government so that he could lead?

What is the purpose of political campaigns , if not to take a bad situation and make it Better ?


Shame shame shame.

plaetton:
Like I told you the other day, facts are stubborn things.
They bite hard at liars.

The OP has obviously ran away, just like yoy did the other day, because he has met with real FACTS.

Now, take this UNICORN meat , run away and go play with your other intellectual toddlers.

plaetton:
Premium Times first quoted an obviously biased chairman of the transition committee, whom, the former finance minister had to come out publicly to refute and correct.

Now, if the OP did not have serious comprehension problems, or had been more honest, he would also noticed and acknowledged that both officials were referring to the total DEBT stock that includes both external and domestic DEBT, the external being $10b and the domestic being the bulk.

Another important FACT that OP's jaundiced analysis deliberately skipped is the portion that where the former finance minister stated that GEJ government's contributions to the total sum of the DEBT stock was $21b or a third of the total.
The rest were accumulations from all previous administrations going back all the way to 1960.

FACTS are stubborn things.
They always come to bite hard at liars .

Elose11:
The op lied in his figures on our external debt. Nigeria's external debt in Dec 2015 is $10.7b. Are you saying Buhari paid off about $50b from the $63b you are alleging as the external debt Jonathan left behind. Please let us know what happen to the difference between your $63b and the officially acknowledged $10.7b. At least make google your friend before making unfounded allegations.

seunmsg:
OBJ'S first budget was N800 billion. The minimum wage as at that time was less than N4000 before he increased it to N7500. So, times are very different. Nobody, not even OBJ can do any miracle with Nigeria's economy if crude oil price remain as low as we've seen since last year.

plaetton:
Lol.
What a joker.

How dare you quote Premium Times to me as your source for economic facts.

Premium Times is a tabloid, not a source for real economic facts.

I suggest you get an education to help you know the difference between external DEBT and Total debt stock that includes Domestic DEBT.

Stop embarrassing yourself with your half-baked knowledge.

Gosh!
Talk about dishonesty and buffoonery.

Firefire:
.

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.

DropShot:
Dear Mynd44 Lalasticlala Seun, may I kindly and humbly request this thread to be taken to fp once more.

I was going to do a similar thread to remind us of the type of economy inherited by PMB as a counter to the thread on recession currently at the fp when I realized we have this beautiful thread here.

Please send this as a counter please. Thanks.

The statement read in part: “It is absolutely not true that the administration of President Goodluck Jonathan squandered the nation’s reserves.
The facts are clear and indisputable. At the end of May 2007, Nigeria’s gross reserves stood at $43.13 billion, comprising the CBN’s external reserves of $31.5billion, $9.43billion in the Excess Crude Account, and $2.18 billion in Federal Government’s savings. “These figures can be independently verified from the CBN’s records. “Secondly, it is a misconception to think that reserves are immutable or cast in stone.
The reality is that since May 2007, the reserves have fluctuated in line with developments in the international oil market, rising from $43.13billion at that time, peaking at $62billion in September 2008 during the Yar’adua/Jonathan administration, when oil prices reached a peak of $147 per barrel, and falling subsequently to a low of $31.7 billion in September 2011.
This fall in reserves was largely a result of the vicissitudes of the global economy and oil market which caused the CBN to intervene, using some of the reserves, to defend the value of the naira.
[/b]

JeffreyJamez:
He Hit is head doesn't mean he's dead na!!... Who Certified him dead?!....

Person wey them go rush go Igando General hospital!

adorablepepple:
excuse me? How did she get a head injury? by hitting herself I guess Abi you didn't see that in the report,pls be smart and think before typing your comment.

So how did water get into her head, Abi she drowned herself ni? Be rational in your thinking Biko. And this report doesn't exonerate him.

It also revealed that water clustered in her head. Again, the report which was reportedly signed by one Dr. Shoyemi, a Pathologist at the Lagos State University Teaching Hospital, LASUTH, Ikeja, disclosed that late Ronke Shonde died as a result of respiratory seizure. But it ruled out the possibility of her death due to violent marks on her face

FOLYKAZE:
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.

otukpo:
I laugh at the desperation of some people.

Is saraki now the problem of the masses?

Is saraki the reason we are having constant darkness in Nigeria?

Is saraki the reason pms is now officially 145 and still sold at 180-200 naira in filing stations even in Lagos?

Is saraki the reason prizes of food stuffs have gone up by about 100%?

Is Saraki the reason PMS is still scarce?

Is Saraki the reason the naira is now 385 to a dollar?

Saraki is obiviously not my problem.

Mynd44:
https://www.nairaland.com/3111687/suspected-militants-bomb-agip-gas

BLINGZ88:
Nigerian government is so concerned about what other countries ( especially) USA thinks about them. When they included us in their state terrorist list, gej panicked nd was pleading with everybody until our name was removed, nd now this news, pmb will consider this as a good thing, but one thing is clear, USA is not all that important to our national interest, if European union or china says something wrong about us, then we can panic cos we the buisness with them the most. But 4 USA, no thanks

BLINGZ88:
stalker alert. So u didn't read what I said abt gej. Display ur stupidity for the world to see nd yes, I'm anti buhari

TippyTop:
How can Lagos be "officially" Oil producing state when they're yet to produce one barrel of oil?

manny4life:
You should ignore his type, he calls you IPOD but has no way of proving you one, you suggest to him to prove it or go through your history, all of a sudden he's too busy, ignore the dude.

dunkem21:
Now, this is what I call KOBOKO

manny4life:
You should ignore his type, he calls you IPOD but has no way of proving you one, you suggest to him to prove it or go through your history, all of a sudden he's too busy, ignore the dude.

TippyTop:
Am not even gonna attempt to disprove you.
If you had any brains you would have gone through my 7yr profile on Nairaland before spewing trash.

Then a again there's a reason we call your ilk zombies.