₦airaland Forum

dinachi:
I am afraid, the judgement of today has been bought by Wike at the cost of 20 billion NGN. The amount involved was why the Chief Justice of Nigeria is the one presiding. APC will not win this case. Buhari, Amaechi and EFCC should as a matter of urgency act now to stop this travesty of justice.

Oga, na you catch the Orubebe virus?

Abeg make them do their thing. You fit surprise say Wike no go win.

-Lord

ISpiksDaTroof:
Aren't you silly?! Here you are telling us that you have an opportunity to become a gazillionaire by 2019, yet you hate the people providing you the opportunity to become wealthy. You are not normal.

I am in a good mood this morning.

Now let me put it in a light that you would understand better. We are talking about seeing opportunities where there appears to be none.

When there is capital flight and the stock values fall, companies underperform. When companies underperform, less people are employed, and there are job losses. Inflation rises and the economy inches closer to depression. Social vices increase. There is increased loss of lives. Everybody screams "The economy is bad" and there is increased frustration for the government of the day.

In all this commotion, wealthy people buy the bad stock, buy real estate in choice locations on flash sales for low prices and wait. Because the economy will always improve, they wait judiciously till it does, then offload the shares and real estate when things get better making huge profits along the line.

re we going to blame the government for the bad economy, sure. But whether the economy is good or bad, smart people always make money.

PMB's government is a disgrace. Nothing changes that.

Have a nice day!

-Lord

ashjay001:
Ur Lordship, I'm an objective zombie! The question is- are u an objective wailer? U av d makings sha. I luv peace n hate when pples lives are sacrificed needlessly! As much as I believe Kanu(ipob) is a charlatan, he is toeing d Mandela path n will definitely come out of prison, more powerful!

Why should one Tompolo now allow his tribe to be harassed because he doesn't want to spend quality time in jail? Asari Dokubo came out from prison a champ, just dat greed won't allow dem to parlay their sacrifice into greatness!

Naija actually needs more selfless heros. Pple like Gani, Fela, Ken Saro Wiwa, Jega, Father Mbaka-

Tompolo is not allowing anyone to be harassed. NDs after decades of neglect in the commonwealth of Nigeria have learned to be thorough about their reactions. This is not the 70s or 80s when we were bent to the whims of the North at will.

We know these corruption charges are 100% political. The corruption fight is a clout to weaken Tompolo's influence and in extension PDP's influence in the region.

Think of it this way. Tompolo's financial accounts were freezed in August prior to the Bayelsa elections for no express reason. He challenged EFCC to court. They did not respond. Bayelsa elections came, he was approached to support the APC candidate and he refused. PDP won. A week later, he was charged to court. Mind you, his previous case is still pending until this day.

Sire, does this scenario not have all the imprints of political harassment? N13b was used to buy the land for a university. It is high, but really how high is it. The average cost to build a government website is no more than N2m. Fayemi is demanding N800m.

In the 2016 budget, The Nigerian Lottery Trust Fund wants to use N500m to BUY LAND for an OFFICE BUILDING. Extrapolate it and tell me if N13b for the land of a university land and N500m for less than 5 plots are not proportional?

Buhari's government is corrupt. And we know Tompolo's search is a clear definition of witch-hunt.

If Dasuki has not been released for being charged with N10b (not the $2.1b being bandied about) even after satisfying bail conditions? Will Tompolo be released?

Buhari should be very careful, he is not dealing with the same region in 80s. We are more self-aware of the antics of the power-mongers. We will stand by Tompolo, not because he is a saint, but because without someone like him, it will only be a matter of time before the region is run over. Imagine the cancellation of a University project already nearing completion?

IBB is not a saint, yet he is respected in his region. Same for OBJ, Bode George. We cannot have saints only in one region and demons in another and have a functional country.

Let the Port-Harcourt, Akwa Ibom and Edo gubernatorial elections be concluded first, before we consider whether we would give Tompolo up. For now, he is useful to maintain the bragging right of the region. We are not kids and certainly not Zombies.

-Lord

TheDevilIsALai:
Remember there is always opportunity to make a buck in misfortune!

You no lie!

Keep the analyses coming.

I just read say National Lottery Trust Fund one use N500m take buy land to build office building. And Buhari dey pursue Tompolo because them use N13b buy land for full standard university. Abeg, wetin be the size difference of ABU and normal LGA secretariat compound?

Who say PMB no corrupt need to go collect form to apply for Devil PA.

-Lord

@TheDevilIsALai, your head dey there. If oil touch $20, I go empty my savings for falling Nigeria stock. The kind gain when diz chairmen go make by 2019/2020 no go be here.

Zombies be they yab wailers say them dey share billions, dey use thousands settle guys. This ones them dey collobi budget, collobi recovered looted funds, increase taxes, kon still buy cheap stock wen go rise hugely in 2-3 years time, and wetin dem use tk settle d zombies, na plate of rice.

The only people I dey pity that some SS and SE people wen vote APC. SW gets what's coming to them. Who dey pity Northerners need to visit psychia.

-Lord

Rainess:
Jews deserve what they have. Being the lowest of Britain's earners, you will still earn more than the average person in India. That doesn't mean you are not poor.

I don't recall saying they do not deserve what they have. But there's a reason Canadians have a better reputation than Americans even though they are equally wealthy, just as literate if not more, and are neighbors.

Definition of "poor" from Google's knowledge graph: 'lacking sufficient money to live at a standard considered comfortable or normal in a society.'

Do you fit this description?

Canada has the fourth largest Jewish community in the world. There are bound to be some outliers (usually half-Jews). But you can't tell me that some of Canada's most powerful men and families are not Jews/Jewish or have Jewish links.

I see no reason why this conversation should have an argumentative undertone. I'm not overly concerned about the attitude because there's no way I could change that, it's just the way it is. And I care less about a race with an irritating level of superiority complex.

It's understandable that you want to straighten out impressions because it is your heritage, but the damage has long been done dear. All you can do is give others a reason to call you an exception. Like is the daily struggle of many black-skinned people worldwide.

-Lord

Rainess:
This thread is so old. Impossible to find a poor Jew outside of Israel? I come from a long line of poor Jews outside of Israel.

The more than one billion hungry people in the world will disagree that you refer to yourself as "poor".

I will give you a chance to enlighten me. Find me a race as pervasive (in all corners of the globe) still wielding enough power, money and influence as the Jews today?

It's a old thread and if you want it to remain in archives, that's alright. I wasn't expecting you to leave a response anyway.

-Lord

Rainess:
Do not generalize like that. You do not fight racism with racism.

True. Except that the poster said s/he paused the support previously had for Jews. Very different from hating on Jews.

I think Jews are quicker than other races to pull the racist (Anti-semitic) flag. Although, that's for good reason.

Personally, I think it makes little sense to hate on a race like the Jews. They've controlled the finance and politics of the West (EU + North America) for over a millennium. One would have a better chance of draining Mississippi with a straw than finding a poor Jew outside of Israel. From Azerbaijan to Zimbabwe, Jews in all countries of the world have mammoth influence, money, and power in their country of residence. Has been so for a very long time.

So, if they come off as condescending or arrogant, I guess it's because they have plenty of reasons in their bank accounts, garages, wine cellars, galleria, and antique collection not to give a darn. Hating on someone for being successful is a demeaning stance. However, that borders on the reason for which I have my reservations for the race--the attitude. I will keep my personal opinions private so they are not misjudged as anti-semitic.

To answer the thread question, I could date a Jewish person if I find her fascinating. I'm not sure why my answer matters to anyone, it doesn't change a thing.

-Lord

Where are those demons that were praising the COAS for the massacre? Una turn go reach.

700 people and the region kept silent. Ever wonder why the North will perpetually remain at the bottom.

-Lord

Amaechi, your fall will be great. Mark my words!!!

I only hope that my fellow NDs would remember to dish out the same treatment you did when it is our turn. Karma will hand us the bat very soon.

-Lord

ashjay001:
Mr Intelligentnista!
Odi happened and nothing happened!
John Togo was hunted and killed and his corpse was exhumed to confirm his death!
Civil war happened and Nigeria still remains one!

PMB(d Bastard) has doubled dared u and urs! He says u're mincemeat compared to BH! The bastards are going to re-organize and deal with u! I'm still waiting for Tompolo's usual boastful reply. He has not even started and d creeks are emptying and ur leaders are screaming ignorance, denials n innocence.

Don't worry, be patient, as Tompolo's time is presently knocking, Larmode's time will surely come!

Nothing more to say since you are been sentimental. Odi was in 1999. Ask OBJ and Yaradua how far with the ND crisis in 2006-2009. Be objective for once.

Anyway, no need for chest-beating just yet. Let us watch things unfold.

-Lord

peacengine:
Was Ojukwu as daring as Jaja of Opobo or the Oba of Benin Kingdom that put up a hard struggle against the British? Niger Deltans are fearless by nature.

The problem with Igbos is their love for material wealth. The elders will never sacrifice their comfort for any struggle

I'm not going to compare them because both Jaja and the Oba met their demise at the hands of the British. I accept that NDs are fearless.

It is okay for Igbos to love their material wealth. The houses in a typical Igbo village are way better than the structures in a typical ND village. Their elders can sacrifice, they have done it before during the civil war.

The major failure of the Biafra struggle during the civil war was because Ojukwu did not consult his people, he did things single-handedly. He had the mentality of current Buhari and let his personal vendetta with Gowon get in the way of sound reasoning and logicality. I don't want to beat up a dead horse. However, I can say with a degree of certainty that one major problem of the east as far as the Biafra struggle is concerned right now is that they are not united.

-Lord

peacengine:
This is the difference between SS and SE, we are more United and fearless in Niger Delta, wetin man dey live in fear for? Igbos have to learn to be more daring

They have to learn to be more united. You can't become more daring than Ojukwu that captured almost half of south south in the beginning of the civil.

They can't have IPOB, two divisions of MASSOB, on one side. Have Senators, Reps, Governors, Assembly members on one side. And have Ohaeneze on another. And the populace is divided along along these three lines. It's f**ked up. If they are united they would go much farther than where they are now.

-Lord

ashjay001:
Its pple like u that require a total breakdown of articles, before u can understand the vagaries.

Nigeria is losing #100m/day due to those bombings. Refineries are shutdown due to those bombings. Most likely, fuel will become scarce, due to those bombings. There will be reduced electric power, due to those bombings.

Pple like u will come to Nairaland and abuse d govt when all these things come into play.

How will strangers or even indigenes carryout such movements, that lead to d bombings and d community closest to it will be unaware(fishermen, farmers, transporters, marketwomen, layabouts etc)?

What the FG requires, is information that will lead to arrests. I can understand village heads not understanding d FG's request, but not the educated youths(u), who is supposed to explain it to their elders.

Incase u haven't realised, d decimation of BH was citizen blind- a lot of civilians were killed indiscriminately! U are on Nairaland, making ignorant statements, while pple in d villages are escaping for their lives, b4 d govt starts another Zaria massacre with their lives. The elders are being encouraged to give them up, before they loose their subjects. Hope u know say, over a month after, enquiry never even start for d Zaria massacre(over 700citizens killed, corpses missing)?

Get real!

I'm replying you because you claim to be intelligent. So are you trying to say that the NA will kill 700 people in a massacre in the SS particularly Ijawland and nothing will happen? When were you born?

The shiites killing is being muted because over 80% of Nigerian muslims are Sunni muslims. For virtually all of the Sunni muslims including the ones on NL, the killing was deserved and that El-zakay had it coming.

But Ijaw people know the Tompolo hunt is ethnic and political so the region will not let any massacre slide. I assure you.

I had earlier opined that though it makes sense for Tompolo to go to court, I wouldn't advise him to. Now, I would rather he never goes to the court. They should do their worst!

It is now undoubtedly clear that those cases are framed to subdue him and the region. If not, why has EFCC not answered the case Tompolo filed against them in August. Why did they seize his accounts in August and then file a court case in December? How long is that? Why have the civil servants and director generals in the agencies in land n survey, bureau of acquisitions, niger delta ministry, ministry of finance, audit agency (apart from the Ijaw NIMASA guy) not being tried and arrested for giving off such huge contracts. Did Tompolo arrange and sign the contracts by himself?

I refuse to be fooled by the corruption tag. Tompolo should resist arrest for as long as he can. Let the military go ahead with razing the communities and let the countdown to the end of Nigeria begin.

They should issue a bench warrant for Lamorde who diverted N1tr. Bastards!

What have we gained from this hellish union that we would be blackmailed by some born-to-rule ethnic group. Screw PMB, APC, the North and the West.

-Lord

TonyeBarcanista:
Yakubu Gowon...... "Vision 1980"

Shehu Shagari.... "Vision 1990"

Sani Abacha..... "Vision 2000"

Olusegun Obasanjo... "Vision 2010" and MDG 2015

Umaru Yar'adua.... "Vision 2020" and 7 Point Agenda

Goodluck Jonathan.... "Vision 2020:20" and Transformation Agenda

Muhammadu Buhari... "Vision 2026"




See as them de use us play draft

You do know that Nigeria was well on its way to achieving the Vision 20:20 agenda started by Umaru and repurposed by GEJ.

Form being the 34th largest economy in the world, we are now the 21st largest economy in the world. *The target was to be the 20th largest in the world.

From a GDP per capital of about $1,900, we are now at about $3,400. *The target was $4000.

I'm sure if you dig deeper you will find how we are getting much closer to the target. (Arguing that most of the gains is due to the rebasing is a fair argument, but there is more that meets the eye).

If the North and SW had not been myopic and selfish, GEJ would have achieved and surpassed the target by 2019.

The problem with lots of Nigerians is that we look at the EU, North America, oil-rich gulf states, and the Asian tigers and want to make huge gains in short times without appropriately weighing the challenges.

Until we learn to be realistic with our expectations we will continue to have leaders that make us appear as though we lack brains.

Make a poll of what Nigerians think constitute the top 5 problems, ways to solve them, how long it would take, and the amount of money that is necessary; and you will find that most Nigerians have their heads in Mars and their bodies on planet earth.

Nigerians are Nigeria's problem. Not corruption, not leaders, not foreigners, not electricity, not [insert problem here]... Nigerians.

-Lord

Good one. I can authoritatively say that the N50 kerosene subsidy scam has been just as rewarding if not more than the petrol subsidy. Every non-NNPC station sold Kerosene for above N50 all these years since that subsidy was introduced.

I am a vocal pro-GEJ proponent and also a Nigerian. All good policies must be appreciated irrespective of the administration.

For all those whining about the effect on the common man. If the "common man" did not bother about buying a liter for over N100 when the government subsidized price was N50, then he should either shell out the cash or go F**K himself now that the subsidy has been removed and price is at N87.

-Lord

Continuation

[quote author=jpphilips post=42225969][/quote]

If you are really of a sound mind like you claim, you will agree its premature to draw the above conclusion at this stage.

I do not agree. And it proves one thing, that have a flawed understanding of the English language.

I made a logical conclusion with a fact-based theory. PMB failed in his first stint as a military ruler. In his 12 years vying for the presidency, he never made a valid economic criticism. Rather he was making assertions that were economically impossible, stabilizing world oil price, and ensuring $1 equates N1. So why did you and every person that voted PMB believe that he would magically transform the economy?

Let me ask you, when a job candidate shows up with fail grading in his/her college certificate, says trash in the interview (performs poorly), do you give him/her the job?

As far as managing an economy is concerned PMB is a failure. History repeats itself. If you voted for him solely because of fighting corruption, then fine. But do not complain about the ailing economy. That is the tradeoff. Lopsided corruption fight for mismanaged economy.

So if you want to wait till 2019 to recognize you made a mistake, be my guest.
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No sound mind believed the statistics Jonathanians were churning out at the time, so it is in your interest to ignore the ruse.

Soludo made this comment about those statistics and NOI never refuted it.


"“What worries me is that this government is the first in our history to attempt to manipulate our national statistics under Okonjo-Iweala. When NBS published the poverty figures in 2011, she felt indicted and incensed. She called upon the World Bank to come and examine the ‘methodology’ and get NBS to ‘review’ its numbers. Oby Ezekwesili (as VP Africa Region rejected the call to try to tamper with a country’s statistics). Once Oby left, the ‘World Bank’ started talking about ‘new figures’, without conducting any new surveys.
I was told about it by a World Bank economist, and I cautioned that it was a dangerous gamble that would damage the credibility of the NBS. If you want to ‘review methodology’, you conduct another survey but you can’t change ‘methodology’ because you don’t like the published figures. No government in our history has tried it: even Sani Abacha allowed a poverty survey that put poverty at 67% under his regime.....Soludo""

Use your brain. The billions of dollars in private investment that were entering Nigeria under GEJ believed and bet their fortune on those statistics. Unless you can show me your manufacturing complex, you can shove your opinion in the pelvic region of your body where the sun does not shine.

Soludo is an attention-seeker and technocrat cum politician who is only minded about his gains. Nigeria's poverty rate is at 71%, what does he want it to be pegged at. The World Bank is the world's leading economic body. I am not saying they can't make mistakes, but I will pick them any day over a tenured consultant. He had his opinion which he stated and was summarily debunked by World Bank officials.

Ask him if the cost of the new survey he is proposing justifies the numerical changes between the NBS figures and the possible realistic figures. If the change was not huge, of what use was organizing a new survey from the scratch.

And to cap it off, why did NOI have to reply him when the World Bank had vindicated her. What more did she have to say. Silence, they say, is the best answer to a ****.
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Elections are over, Jonathan privatized the power sector you said, who built the assets that were privatized OBJ!! that murders the argument right?

Here is the list of Power plants in Nigeria, subtract 4-5yrs from their completion date and tell me how Your Jonathan built them, despite huge oil windfall

https://en.wikipedia.org/wiki/List_of_power_stations_in_Nigeria

Again, your poor understanding of the English language prove you unfit to engage in an intellectual discussion with me.

I said "GEJ's major plan was to involve private partnership and unbundle the sector because the vested interested of the power/diesel generator cabal made it difficult for any government-sponsored efforts to prosper. You can read up on the Roadmap on Power he unveiled in 2010."

Plan of which much was instated but not all and which is still on-going as we speak. I admonish you to read this page so you are better informed http://www.mondaq.com/Nigeria/x/364664/Oil+Gas+Electricity/Power+Sector+Privatisation+in+Nigeria+Opportunities+and+Challenges

If you are attempting to say OBJ should be applauded for wasting Nigeria's money with virtually nothing or little to show for it, then yes show your support for inefficiency, incompetence, wastage, and corruption. OBJ is single-handedly responsible for the glut in the power sector. We can manage the failings of the military rulers, after all they failed in every other sector so there is nothing new. But OBJ had the opportunity, the revenue, and the reason to change things but performed woefully. Unfortunately GEJ who was trying to clean his mess got roped in to take the blame.

About the projects, here is something for you to digest...

https://i1295.photobucket.com/albums/b636/LordAdam/Wikipedia_Incomplete_zpslbrmnjjm.jpg

You want me to waste my time with an incomplete article. Suck It!!!
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I nearly wanted to enlighten you further till I read where you claimed Polio was eradicated by GEJ, I only wish Bill gates, USAID and Emeka Ofor will read that nonsense you wrote

Don't amuse yourself to believe you have the mental capacity to enlighten me. I do not mean to sound disrespectful, but save your enlightenment for someone else, not me. I am above your league.

Then again, I should ask you, who do we accord the praise for ending the BH scourge (even though most of the reclaimed territories were recovered under the last administration, and that PMB did not buy any weapon until the military declared victory a few weeks back)?

Even then, you goofed by greatly misinterpreting my statement, I said "polio was eradicated under GEJ" not "polio was eradicated BY GEJ."

When I used 'under,' I demonstrated tact to show that the polio fight was not a one-man fight or a fight that happened in just one administration. Nevertheless, Nigeria was declared polio-free by WHO when Jonathan was in power after he intensified the fight. Don't be a blind hater. If I had used "by" then it suggests that "Jonathan eradicated polio all by himself, which is not accurate". So your statement is invalid. Try harder next time: Oh wait, there will be no next time.

You can as well say eradicating Ebola was the handiwork of USAID, Doctors without Borders, and many philantrophic individuals/organizations that made donations (both in public and in private). Your hypocrisy and hate stinks to high heavens. HELL has need of your services.

Time and again you have proven your inadequacy to make meaningful points. You should take a bow, re-educate yourself on how to argue points, and, I say this at the risk of sounding demeaning, check your mental status.

Nigerians of voting age should have their IQ checked before they are given Voters cards.
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To every other person (including you jpphilips) that wants to take the tempting plunge of replying me with a rebuttal for any of my post in this thread, know that I will not waste my time to educate you. I have far better things to do. The only reason for my reply in this thread was to inform Bevista of certain facts he may have overlooked while making his conclusions.

Although I anticipated rebuttals from like-minded folks that unfortunately do not have his level of intelligence and insight, I made zero provisions to reply such people. So if you have an opposing opinion, go F**K yourself with it. Don't quote me. I will not reply you.

I have based all my conclusions on facts you too can find if you search hard enough, I refuse to be the one to lift you from your mental slavery.

-Lord

[quote author=jpphilips post=42225969][/quote]A. For some reason, I did not notice your mention earlier.
B. From your post history and your reasoning faculty, you are very different from Bevista. When I replied Bevista, I did so to point out facts seeing that he had the objective capacity to gain a thing or two from them. In contrast, replying you is more like discussing stocks with a palm-wine tapper. However, I will reply your post for the interest of sound minds that may come across it. That said, I will not respond to any other reply from you.

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You claimed in your post that GEJ facilitated the ease of doing business especially the CAC registration, yet you undermined OBJ's input in telecoms revolution, aren't you speaking from the two compasses of your mouth? what changed in 2000 that companies operating since 1994 elsewhere could not make a foot print in Nigeria? Don't you think that some economic parameters must have changed with OBJ for it to attract such foreign investments at the time? Or you think that foreign investors are !diots who roam the universe for fun?

Facilitating ease of doing business and the telecoms revolution are not in the same league. Of course, it will be difficult for you to recognize that. Let me put it simply. Telecoms revolution would have happened without OBJ's input. It was always coming. As a fast growing economy, we needed it, the companies registered intent and OBJ conceded. So yeah, I have every reason to downplay it. Virtually all the input in the sector were from the private sector. All the investments... were from the private sector, so what really was OBJ's achievement aside selling licenses at exorbitant costs and frivolously wasting the money realized?

On the other hand, Nigeria is still 138 out of 190 countries on the Ease of Doing Business List (so yeah, a lot more has to be done). But now you can see why GEJ's input in that area is much welcome, why PMB should consolidate on his efforts, and why it is way better than OBJ's signing papers and calling it a telecom revolution. Yes, it was nice that OBJ let the telecom industry sprout under him, but it is overrated, much overrated. If it didn't start under him, it would have started under Yaradua, if not it would have started under GEJ, if not it would have started under PMB. Telecoms was a wave hitting the world at the time. It is like saying Netflix coming to Nigeria is an achievement for PMB.
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After exposing the so called "rot" in the banking industry, we quickly reminded Sanusi that he was the CBN governor not the EFCC chairman, he agreed and got back to work, these are exactly what his economic Ingenuity proffered.

1) Sanusi bailed out the distressed banks, meanwhile, his predecessor he rubbished created an EDW, so tell me, what is the difference between "A bail out fund and The Extended discount window"? The last time I checked, they are both Government funds loaned to the private sector at low interest rate. Correct me if i am wrong.

2) Sanusi sold the banks, meanwhile Soludo opted for a merger that left investors fund intact, while investors lost all their Funds in Sanusi's acquisition. Intercontinental comes to mind.

3) Sanusi threw government funds at islamic banks meanwhile Soludo licenced them and tasked them to invest their own funds.

4) Sanusi gave us internet banking meanwhile, Soludo gave us ATM cards, ATM machines and Interswitch (as Economic adviser to the president), whatever Sanusi built on those are immaterial.

Can you see from the 4 examples above that Sanusi did not do anything new in the banking industry rather he rubbished Soludo then went back to reproduce his ideas, we are safe to assume that the noise making era of Sanusi is as a result of poor understanding of Soludo's strategy right? I agree with you though that he has a stint for "exposing rots" which makes him a better EFCC chairman than a CBN governor.
Comparing Soludo with Sanusi under any guise should attract a death penalty, please don't make that mistake in public again.

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1. The difference is in the peculiar reason why they are given the fund. You don't seem to think things through before you open your buccal cavity or let your hands do their thing on a keyboard. The entire cost of the bail-out fund for the banks was N3t--http://businessnews.com.ng/2011/09/09/n3-trillion-official-cost-of-bank-bailout-cbn/. That is half Nigeria's 2016 budget. In contrast, extended discount window is a way of telling the banks to continue what they were doing. Let me put it this way. EDW is a way to endorse what the banks are doing, giving them more leeway, and are carried out routinely. Bailouts is money wrapped with a middle-finger and accompanied with calls for reforms. Soludo is one of the major reasons (I use 'one', because the financial crises was another major reason) why we had to spend that much money. If he had done his job, Sanusi would have spent much lower, and less banks would have been affected by the 'Sanusi tsunami'. It's that simple.

2. Mergers and Acquisition is not the same as buying and leasing land, there are many dynamics at play. I am not a financial expert, but I will do my best to use my limited knowledge to prove the fallacy of your statement. Investors did not lose "all their money" during the acquisitions, their stocks were simply revalued.

Same case as in a merger. With acquisitions, the case is simple, if the new company is valuable, the new owners will pay good money for it. If not, they will acquire it for scraps. Instagram was acquired for $1b, Whatsapp for $18b. So acquisition is not a bad thing. If the banks were doing great, why were they sold for scraps? Is it not testament of Soludo's inadequacy to discover the troubles earlier and nipping it in the bud?

Moreover, what is the deal about protecting the investors, why sell sh1t to investor B just to protect the interest of investor A. That is a crime. Soludo's merger plan was so that banks could meet the capitalization request and to reduce the number of paper-weight banks. Sanusi's acquisition plan was to give crappy banks to better banks to manage.

3. If Sanusi really had to give money to the Islamic Banks is debatable. But the real question to ask is if he broke any laws by doing so. He did not. Don't bring your averse for a religion to a logical debate.

4. Listen to yourself. Misappropriating accomplishments. Sanusi did not give us Internet Banking, the banks did. Soludo did not give us ATM machines, ATM cards, or Interswitch; the banks did. Interswitch is a private company like Quickteller and Verve. ATM cards and machines were always going to pop up. The right thing to say is that Sanusi canceled the N100 ATM charge, which the corporate ass-licker Emefiele re-introduced. Sanusi also introduced and pursued the cashless policy with remarkable success.

Now you see that itemizing baseless utterances does not make you intelligent. Sanusi is in a league of his own. Soludo can't come close. I have some reservations with the Sanusi character, but I cannot for the life of me ignore a man's valid contribution to the nation because I don't like some of his attributes. Now Soludo is an accomplished economist in his own right, he has been visiting scholar at the University of Cambridge, the Brookings Institution, the University of Warwick and the University of Oxford and a visiting professor at Swarthmore College (USA). He has also worked as a consultant for a number of international organisations, including The World Bank, the United Nations Economic Commission for Africa, and the United Nations Development Programme. But as far as the Nigerian economy is concerned, Sanusi performed better than him, and he in fact performed worse than was expected of him. He is like Messi. Doing great elsewhere, but failing in national duty.

I am against the death penalty, but to quote you "Comparing Soludo with Sanusi under any guise should attract a death penalty." Sanusi is out of Soludo's league.
============================================================================================================

I agree with you on this part not without some reservations though, first the increased budget threw the big chunk on infrastructural development, it is assumed that the Govt will spend more on infrastructural rehabilitation to stimulate the private sector hence create jobs.
Countries that are equally hard hit in this oil crisis, Russia, Iran and Saudi Arabia have unemployment rates of 5.2%, 11.67% and 5.7% respectively, Nigeria has unemployment rate of 23.9%, while the government claims 8.9% without a comprehensive database, international watchers use 23.9% with a shocking poverty rate of 71%.

You can see clearly that Unemployment in Nigeria behooves a state of emergency unlike the countries that cut budgets in the face of plummeting oil prices.

There is a reason why I always support my facts with researchable valid data. Let me spell it out for you. It streamlines discussion, arguments, and theories. If you dispute the Nigeria's unemployment rate data of 9%, then you can as well dispute the figure on population, size of the economy, number of people that have been killed by Lassa fever. When it comes to data, you don't cherry-pick the ones that suit you and dismiss the ones that don't without providing reasons that hold water. You say our government's data is based on a database that is not comprehensive. And you are comparing the data with Russia that is a communist country, has the largest land-mass on the planet, with tight controls on free-speech and has been repeatedly caught pants down trying to sell a rosy situation when the real deal is much worse. Or Iran that is doing all it can to prove that the US/EU sanctions are not really affecting them that much, or Saudi Arabia that is killing citizens that dare question the regime and runs a welfare scheme that cost tens of billions dollars annually.

Nigeria's unemployment rate is 9.9%, if you don't agree, calculate your own rate and send it to NBS. We deal with facts here not figures you can pull out of your a$$.

With that out of the way. You did not note that Nigeria's case of unemployment necessitates a state of emergency when Jonathan was using virtually all we got from oil revenues to boost the economy. But now, it is okay to borrow to the high heavens because Buhari is there. Shame on you.

Nigeria does not need a N6t budget to fund a N40b ministry of information, create a N800m website, build a N3.8b office building, or use N300m to provide recreational facilities for the president (to mention just a few). If spending is cut and the budget is managed well, N4t will be sufficient until this current storm passes. Every other country in the same situation cannot be running in one direction, and you in another because you feel you are a Sage, or a demi-god. We need better efficiency in spending not bloated budgets that unfortunately thrive on loans.
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Ridiculous proposition, rebasing an Economy is done every 10yrs, Nigeria never did for a long time till Iweala deemed it fit, it was done in 2013 does not mean that all the parameters that contributed to the growth was effective in 2013.
After the GDP was rebased, the following sectors were f!ngered as the contributory factors to the growth.

1) Telecoms sector, Internet and ICT: This is without doubt an OBJ's legacy, according to FI it contributed over 35% in that GDP.

2) Nollywood: As crazy as it sounds, Jonathan made a significant investment there in

3)Banking/Finance: We know it is an indisputable OBJ's legacy. Nigerian Banks that used to fail annually before OBJ metamorphosed to multinational financial institutions after feeling the prowess of Soludo.

4) Oil and gas servicing companies: While Jonathan was busy stealing Assets with his indigenization policy and packaging "Flaring permit" in his much touted PIB, Obasanjo strengthened the PSC that saw the birth of 8 new deepwater oil fields, by 2005, that number grew to 14. According to industry watchers, the PSC is the "TOAST" of the Nigerian oil and gas industry.

5) Low debt/GDP ratio gave a boost to investors that stimulated all the other sectors : Even the devil will give OBJ credit for this.

6) real estate: Jonathan over saw the Amendment of the Land use act that he never signed to law BTW, however speculation fueled by the Bill, stimulated the Real estate sector.

7) wholesale and retail: Nobody can really claim it wholely.


You can see clearly that the economic indicators that grew the GDP is actually a vindication of the OBJ administration.

Again it is of little use educating you because of your depressing deficiency to objectively approach issues. First you've taken my point in an unintended tangent. Even then, I will prove your fallacy, yet again.

When our GDP was rebased, GDP for each year was re-calculated going as far back as to 24 years back (from 2014 when the re-base was done). The rebasing, aside to show the true size of Nigeria's economy, was done to show how each sector contributed to the economy. So my previous point still stands and it also proves how shallow you reason to iterate that I opined that "all the parameters that contributed to the growth was effective in 2013".

Now to the ridiculous statements you made:

1. Telecoms sector: I have made a mess of the assertion that it is OBJ's legacy earlier in this reply, so I do not have to beat up a dead horse. When you say ICT and Internet is OBJ's legacy, I begin to wonder if you ever passed "Qualitative reasoning" when you were in elementary school. Be more mindful of the statements you put out in the public domain.

2. Nollywood: GEJ didn't put something there which is laudable but it is hard to say if the money was utilized effectively. I did read recently where "Mr Ibu" said he hasn't seen any of such money released, a statement echoed round the industry. Nollywood is the sweat of enterprising performers, directors and crew, marketers, and angel investors; don't politicize it.

3. Banking/Finance: Again, I have lambasted this opinion of yours. Nigerian banks are SH1T. The mess in that sector will last longer than 1g of Uranium-238. Nigeria's top bank Zenith is 371 in th world and 6th in Africa. That is the biggest bank in Africa's largest economy. We only have nine banks in the world's top 1000 bank ranking. NINE, when we have the 21st largest economy in the world. So much for "multinational financial institutions."

Soludo did little, Sanusi did more, but a lot more has to be done before we can call transforming that sector an achievement. Last year, CBN forced the banks to display their biggest debtors in the national dailies and you have to imagine the sense of irresponsibility that guided the banks to issue such questionable loans to companies and individuals with questionable track record.

Was Soludo's market recapitalization a good decision. Yes.
Is it enough to tag him/OBJ the saviors of the sector. God No.

4. You call the PIB bill stealing? I am getting tired of replying your callousness. A bill that has been supported round the industry with very little opposition and will increase nationalistic involvement is what you call stealing? Are you high on something? Are you even Nigerian?

The PIB bill is the best thing to happen in the oil and gas sector, and that it has not been passed proves that there are many unpatriotic powers at play.

About the deepwater oil fields. Is it the same oil fields that are been sold/offered for sale by the multi-nationals now. http://uk.reuters.com/article/total-nigeria-sale-idUKL5N0RD4ID20140916

PSC was introduced in 1993, it was edited in 2000 and again in 2005. Even with editing it two times and selling off 22 licences throughout his tenure, he did zilch to plug the rot and huge leakages in the sector. And I do not know why you should call that an achievement.

A. It was not initiated by him
B. What he did is akin to PMB restructuring NNPC. It is nice, but is not a noteworthy achievement.

5. You just had to chip this in right, even though we are strictly discussing sectors here right? Anyway, I am not a blind hater, clearing Nigeria's huge debt profile was a remarkable feat by OBJ/NOI.

6. So according to you the rumor of GEJ's policy fueled the real estate, but you do not want to applaud GEJ, but when you guys were attributing increased power supply to PMB infamous "body language" it was okay? Aside the policy, Nigeria's phenomenal growth, rising middle class, and increasingly favorable environment for doing business was the reason for the rise in the real estate sector.

7. Wholesale and retail: Did you say no one can claim it? Look at this graph again http://www.tradingeconomics.com/nigeria/gdp. Click on max to see the projection over the years and check out how fast Nigeria grew under Jonathan to how it did under every other president or military ruler in Nigeria. The number of malls, shopping plazas, and the ever-expanding wholesale and retail sector may be attributed to many factors, but one of the major factors is GEJ policies.

Now, it may appear that I am trying to ridicule OBJ's achievements, but all I'm doing is place it in perspective to GEJ's achievements, so you can visualize the huge gap. OBJ is one of Nigeria's good presidents, not because he was a PDP president, but because of this fact: Nigeria's fastest growth between 1960 and 1999 when he came back as president was under his 1976-1979 military regime, after which he gave Shagari who oversaw Nigeria's fastest fall. After years of consistent failure under Buhari and GIB, He took over the reigns and again recorded Nigeria's fastest growth until GEJ. So, yeah amidst the dictatorial tendencies, sanctioning of corruption, numerous political killings, he proved himself twice.

Do I really need to spell out PMB's failure? I will wait till his tenure is over.

To be continued...

-Lord

APCLyingBastard:
As at 1975, Nigeria's defense budget stood at 45% of the total budget with an army total size at 250,000. Compared ten years earlier in 1966 prior to the civil war, the Nigerian army had a standing force of just 10,000 and the military defense was far lower than what was allocated to institutions like the police.

The likes of T.Y. Danjuma remarked on the danger of having such a large armed forces during peacetime and called on the Murtala and recently ousted Gowon govt to begin a process of demobilization. The Nigerian army according to Danjuma was the biggest welfare scheme in Africa where soldeirs were dying of old age.

Today, the Buhari govt is intending on expanding the Nigerian military to 150,000 over the course of 5yrs.

Why exactly do we need to house and feed 150,000 men whose only main task is to kill the very same civilian citizens who through tax payments fund their Yeye no handwork career?

If Buhari thinks the only solution to Nigeria's ever complex and increasing political solution is to use military brute force to subdue dissent then he obviously is really daft.

A large standing army in peacetime comes with a lot of challenges both financial and also political. The cost of maintaining a large army and the risk of having the army become more policitized increases with a large standing army.

Rather than recruit more soldeirs to fight the ever increasing boko jihadists why not look at what is driving recruitment of northern Muslim youth to join boko haram?


Buhari should begin to use the small sense he still has in that his gerriatic brain. Instead of hiring more soldeirs why not hire more teachers to provide education to the almajiri youth? Instead of buying more tanks to kill your citizens why not build more schools ?

I agree with you on most issues, but on this I make an exception. Nigeria is the largest economy in Africa (over 40% larger than SA which is the second largest economy). Nigeria is the 21st largest country in the world out of 190 countries. Nigeria's population is the largest in Africa and seventh largest in the world.

Nigeria is the face of Africa.

To protect our vast growing economic interests, entrench our superiority on the continent, and transition from a regional power to the continental power, we need a strong military.

I am a patriotic Nigerian. West Africa is still unstable and as the largest democracy in Africa we owe it to the region and the continent to advance democracy in the continent. Such that despots would think twice before coups, unnecessary election conflicts and other such armed fracas can be squashed or avoided. We can only do that with a huge military.

Moreover, every forward-thinking regional power has concrete plans to have their regions under their influence, US in North America, Brazil in South America, China in South East Asia, India in the Indian Sub-continent, Australia in the Australian continent, Russia in East Europe, Saudi Arabia in the Middle East, Coalition of NATO in Western Europe. West Africa and Sub-Saharan Africa is ripe for the picking (we can eclipse South Africa if we set our mind to it).

Cameroon, Ghana and the other fuckers in the region giving us headache will play cooler if we had a stronger military not simply if we became the largest economy in the world.

So if Buhari likes let him increase the force to 500,000, all the better. North Korea's major bragging power aside their nukes is their 1 million man army. Even Iran and Pakistan.

Look at all the BRICS countries and tell me which has a weak military? If we want to leave the N11 group to enter the BRICS and G20 movement we must establish ourselves as a military power to reckon with.

Not everything is about squashing dissent or fighting BH. Even if BH is squashed another will rise in its place, look at ISIS picking up from where Al-Qaeda stopped. And by the way Russia and China also face home-grown terrorist sects, Chechnya rebels and Taiojing terrorists respectively, and use their massive military to keep the influence of these rogues at the barest minimum.

The main thing is that PMB should work on the economy concurrently, something he is failing to do. But as far as expanding the military is concerned, PMB has my backing. Nigeria is bigger than PMB and GEJ.

-Lord

dammytosh:
They are tested hands. This period, book can not save us besides experience.

They are tested but not trusted. They failed their tests.

Unless you want another PMB experience. PMB failed in his first test in the 80's and is failing again in the 21st century. Nigerians are beginning to accept that PMB is only good for fighting corruption and has zero idea how to run an economy. Now, we are explaining ways to cushion his failings by recommending people that can help cover his delinquencies and form better policies, and you are referring us to the people that placed us in this mess.

Even worse, these people from their recent comments in the public domain show that they have nothing to offer. All Soludo has been talking about is how PMB copied GEJ budget and how NOI mismanaged the economy. What has he recommended to stall the coming recession, nothing?

Madam BBOG was comparing Russia to Nigeria and saying CBN should organize exercise for over 100 million adults in Nigeria to vote on economic policies. Did she even conduct a feasibility study to check out the cost of such an exercise? What about the 100 million adults that know virtually nothing concerning economics.

Is it these failed people you want to give these vital offices to?

If our only option is going back to our vomit, then the future of the Nigerian economy is bleak.

-Lord

dammytosh:
Buhari should sack the CBN Governor

His policies are TRIAL AND ERROR

I also call for the SACKING OF the FINANCE MINISTER.


In this trying times, We need experienced people to be incharge of the Financial sector. Not all this TESTIN TESTING microphones.


Bring Soludo and Madam Bring Back Our Girls.

Abeg, do not call those politicians.

Soludo's only major achievement under OBJ was market recapitalization. He is a corporate ass-licker like Emefiele. And now a politician, we cannot have a politician there who will be doing APC versus PDP with critical monetary policies. His recent utterances prove he will use the position to score cheap political points.

Madam BBOG is another technocrat cum politician. If you read her recent tweet criticizing Emefiele, you will marvel at the level of ignorance she displayed, comparing Nigeria to Russia. She can manage ministry of women affairs not a critical ministry like finance. She will play politics with it.

PMB needs to bring technocrats with very little exposure in the political scenery, preferably with western financial education and experience to hold these lofty positions. Nigeria is the 21st largest economy in the world right now out of 190 countries. We cannot be playing politics or doing hit and miss with our economy. I know we have many of them, (our population is around 170 million, ninth largest in the world, so he cannot say we only have politicians to fill those positions) it is up to him to scour for them.

-Lord

My problem with Emefiele is that he is a corporate (Bank) ass-licker. All his policies have favored Banks in some way, unlike SLS who had the interest of the customers at heart first.

SLS should have nominated his successor himself. Sanusi, even with his failings, is our best CBN governor in a long time.

The mess we are in now is that virtually all the alternatives to Emefiele are also corporate ass-lickers. If PMB can find a Sanusi-like character in the CBN, he should remove this guy...

-Lord

Bevista:
I will not dignify him with a response.
---
First of all, he questions my intellect and my decision to support PMB for the Presidency. Secondly, he used the terms "silly", "senile", "dictator", etc when describing the president. Thirdly, he was obviously desperate to defend GEJ, and saw nothing wrong in his "hero".
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He cannot drag my personality into an economic debate just to have some cheap emotional leverage. And calling the president derogatory names does validate his points or raise his self esteem. I cannot be dragged into such a lowly playground. When he is ready to stick with issues, devoid of personal sentiments & abuses, then, maybe we can have a decent discussion.
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In fairness to him, he raised some sound economic points, which, on another day, and I would have been glad to take him on. Most of the issues he raised are valid but many others are complete bullocks and very refutable.

A. I made valid reasons to question your intellect.

I put it to you. What laudable economic criticism did PMB make in his 12 years running to his current election? Why did you believe he had anything to offer on the plate when he did not make any constructive economic criticism and refused to take part in a debate? Why did you go ahead to vote a person twice who said he would stabilize world oil price and said an attack on BH is an attack on the North?

As I said, if it is solely the anti-corruption fight, then I understand. But then that means you hoped that only the anti-corruption fight will help Nigeria's problem and so have no moral reason to complain that PMB is managing the economy wrongly. That is the hefty price to pay. Lopsided anti-corruption fight for lackluster handling of the economy.

B. Those are words that best describe the actions by the President. Smuggling budget is silly. Senile is a word that best describes the weakness of the president to confront the economic woes of the country. And PMB is a dictator for not obeying court orders.

C. I defended GEJ successfully. If you look through my posts on the forum. Never for once have I said that GEJ is a saint and did no wrong. I was personally infuriated by the Odua scandal, I had reservations with the Sanusi sack, and those are to mention a few. I do not share the characteristic trait of hardcore APC supporters that believe PMB is infallible--a demi-god of sorts.

As a human, GEJ made mistakes. I accept that. But his mistakes do not cloud his achievements, not by a long shot. He is the best Nigerian president, plain and simple. If PMB can beat the tall order he placed is entirely up for speculation now. But from the 8 months I've seen, he is only proving me right that he had no economic plans for this country, he is only back to finish his vendetta.

D. I do not want to have a discussion with you. I only had to point facts for you. I know it is difficult to source facts when it appears that things are not working, or when it is easy to trade blames. So, I had to go through the labor of bringing up the facts and clear up some misleading statements you made. If you still think, with all I have typed, that GEJ is the worst civilian president, then that is totally up to you. However, I know that an objective mind will differ.

E. I am not the most intelligent person in the Politics section. Heck not even in Nairaland. So, yeah my arguments may have flawed parts, but what I put to you is the fact that GEJ has been rubbished because of misplaced political hatred and his achievements have been lambasted because they were enacted by a SS in only 5 years. GEJ will be the only SS president of this country in a long time, maybe two or three decades. He is a legacy of the SS/SE zone, you don't just cast all he has achieved in the mud, exonerate other corrupt leaders (as they are from other regions) and call it logic. I am a patriotic Nigerian and a proud-ND. If May 2015 came again, I would vote GEJ, because between him and PMB, he is a better candidate. My previous post proves that.

Thank you and have a nice day. My apologies if you felt I insulted you.

-Lord

wirinet:
I strongly disagree what GEJ would have been a better manager than PMB. As i pointed out earlier GEJ had the highest earnings in the history of Nigeria and his management of these earnings was at best poor. GEJ did not introduce anything new into the polity , his policies were simply a continuation of OBJ's policies carried over by yaradua, which is mainly hinged on privatization of state asserts.

As for PMB, we have to wait a bit more to see his policy direction. At the moment he is more occupied with the war against Boko Haram and corruption.

Even with the long post I wrote? Well that is your opinion, and as I said, it is okay to have divergent views.

GEJ also dealt with BH. In fact he recorded more gains in the BH war than PMB who hasn't bought any weapon. EFCC and ICPC is handling the anti-corruption fight, unless you are saying PMB should fold his hands and watch the economy sink because of anti-corruption fight.

You are the exact kind of person I do not want to have a conversation with.

Good day.

-Lord

Bevista:
I appreciate your contribution in trying to enrich the discussion. Though I have not quoted your full comment (because of space management), be rest assured I read it fully.
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Though I supported PMB in 2011 and 2015, I have to say that I am somewhat disappointed with his handling of the economy till now. I am most unimpressed with the delay in appointing ministers, the budget controversy and the tight FX policy controls.
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I also want to admit that, in retrospect, it does appear OBJ was the best manager of the economy in the last 16 years. He paid off $12billion debt to the Paris Club, left over $60b in Foreign Reserves and over $20b in Excess Crude Account. The banking consolidation and telecoms revolution all happened during his tenure. All this happened with an average oil price of less than $45 over his 8yr tenure.
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Having said that I think it is completely uncharitable to discredit PMB by comparing the current economic realities with that of OBJ in 1999. Even though oil was $16pb in 1999, do you know what our Federal budget was by then? I'll remind you - it was ~N300b. I admit that the exchange rate was ~N98/$ by then. However, using an inflation rate of 9% over 16yrs, PMB would need oil price at ~$63pb and a meagre budget of N2tn to be on the same economic footing with OBJ in 1999. Sadly, the old man needs to fund a N6tn budget with $28pb oil price. Add that to the fact that our population has grown from 120m to over 170m now, and you will appreciate the weight on the shoulder of the old soldier.
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It is my candid view that, economically, the Jonathan era was the worst in our democratic history. The average oil price during GEJ's 5yr reign was over $90pb, yet the country was left with less than $30b in FR and ~$2b in ECA. One cannot even point to any major economic activity that happened under him. Our power generation stood at less than 4,000MW in 2015, which is about what he inherited in 2011.
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Now, this is not an exercise in blame as that would be an effort in futility, but this is just to offer some perspective to your earlier assertions. As @janellemonae noted earlier, president Obama inherited a collapsed economy from president Bush, yet today, the American economy has witnessed unemployment lower than it has ever been in its recent history (5%). The Stock Market made new all time highs under Obama. President Buhari has a similar situation to turn around the country and write his name in gold. History will not remember what made you fail but simply your success or failure.
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I still firmly believe that, in spite of all his inadequacies, PMB is still a better option to run the economy at this present time. With all the revelations of financial mismanagement, GEJ would simply have been an economic catastrophe with such low oil prices.

Believe it or not, I have read most of your posts in several economic issues and I must say I am impressed by your insight and honesty.

I maintain that it is okay for people to have divergent views, so do not see my reply as anything like a bashing of sorts.

With that said, I want to reply you because from me understanding of the tone the discussion in this thread is going, it appears there is an acceptance that PMB currently lacks the insight to assuage Nigeria's economic woes. That is a position, I have held prior to the election, and I stand vindicated.

However, my reason for replying you is the perceived acceptance that OBJ performed and GEJ did not.

That is unequivocally untrue.

I am not going to compare OBJ to GEJ (OBJ spent 8 years and GEJ spent 5 years). Still, OBJ paid off debts and left billions in the reserves because he did far less than he could have done. All the major sectors under his administration were majorly stagnant.

Even his top 2 achievements are questionable:
1. Telecommunications would have entered Nigeria at one point or the other. That it entered under OBJ is not an achievement. Should we also applaud the Shagari regime for bringing in computers? Did OBJ not oversee the colossal failure of NITEL? Was OBJ MTN, Econet, or Glo that spearheaded the widespread development of the telecommunication sector? What exactly did OBJ do other than sell licenses at exorbitant costs and wasting the government revenues?

2. Nigeria's financial sector is a joke. It has always been. Soludo's market recapitalization did not stop Sanusi from exposing the rot in the sector that led to famous "Sanusi tsunami" that saw several bank executives (most notably Cecilia Ibru) having to vacate their lofty positions. Even Soludo's begrudged "20 to 25 banks supporting the whole nation" is BS. There are over 5000 commercial banks in the US [although the figure has consistently fallen almost exclusively due to market forces and stricter fiscal policies (note not monetary policies)]. Over a quarter of those banks have just one office. They have national, regional, and local banks; a move that Sanusi gravitated to when he became CBN governor.

So what exactly was his achievement in the sector. Despite Nigeria having a larger economy than South Africa, can our banks compete with SA banks? What we need in the banking sector in Nigeria is strict policing of activities over successive regimes not terming one regime a better regime over the other because of myopic furtherances.

How many naira denominations did OBJ introduce?
What about the coins Soludo introduced whose inherent value were more than the face value they held?

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Now let us talk about the OBJ versus PMB scenario.

Did OBJ contest for four times before getting the presidency?

Who asked PMB to increase national budget by about 40% when he knows Nigeria does not have the funds to finance the budget? Every sane country hit by the oil price fall is reducing government spending and PMB wants to increase his. What is his rationality? With a weak reserve, weak currency, and dwindling revenues, PMB is doing exactly the same thing the stupid military leaders (himself included) did when we had oil price fall in the 80's that led us to pile the debts that OBJ canceled. Can the senile dictator not learn from past mistakes.

And come to think of it. This man inherited the exact same situation in his first stint. What do you say about a man that cannot learn from his mistakes or fails a second time for the same condition that he couldn't solve in his first stint?

Before you compare Nigeria's 300b budget in 1999 to 6t budget in 2016, can you for a moment compare the size of the Nigerian economy between 1999 and 2016?

Nigerian GDP at purchasing power parity (PPP) has almost tripled from $170 billion in 2000 to $451 billion in 2012, although estimates of the size of the informal sector (which is not included in official figures) put the actual numbers closer to $630 billion. Correspondingly, the GDP per capita doubled from $1400 per person in 2000 to an estimated $2,800 per person in 2012 (again, with the inclusion of the informal sector, it is estimated that GDP per capita hovers around $3,900 per person).

Culled from Wikipedia

Nigeria's GDP in 1999 was $35.87b
Nigeria's GDP in 2013 was $521.8b
How many percent increase is that?

Look at this graph and see how much of it expanded between 2010 and 2015 compared to 1969 to 2007.

Don't make excuses where there are none. Let's not talk about population. You didn't factor population in your GEJ analysis.

PMB is a failure. He is a disaster. And that you supported him twice (in 2011 and 2015), proves that you believe in fairy tales. At no point during PMB's time as a presidential candidate did he make an enlightened and concrete economic criticism of the government, unlike Atiku. Why did you believe he would have something to offer if he magically held the nation's piloting chair?

His best was that he would stabilize world price and make $1=N1, and an educated person like you voted him? I can stand uneducated illiterates saying they support him because they want to see their hated politicians in jail and that nothing else matters, but when an educated mind (who is able to make sound analysis) picks a man without a high school certificate, who has repeatedly goofed on economic policies to manage the 21st largest economy (by GDP) in the world, I have valid reason to question the sanity of your mind.

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To Jonathan, I don't believe a post would be enough to describe his achievements (actual concrete achievements) but I would try to be abridged.

1. Facilitating a relatively better environment to run a business. I use the world relatively, so that I can compare pre-GEJ days to GEJ days. Let us talk about the Inflation Rate, under OBJ, inflation rate rose from 6% in 1999 to 18% in 2001 (a 300% increase). When NOI took over in 2003, Nigeria's Inflation Rate was 14%, when she left in 2006, Inflation Rate had fallen to 6% (a more than 200% fall). OBJ left the nation with an Inflation rate of 5%, which rose to 13% when GEJ assumed government in 2010. Under, GEJ for the first time in 16 years, Inflation Rate fell continuously year over year to 8%.

Do you know how long it takes to register a company with CAC now compared to 2010?

Every other challenge in running a business in Nigeria now precedes GEJ's regime, and much of it is out of his hands. The National Assembly has repeatedly refused to wade in on how businesses are exploited by state and local governments. Challenges like vandalism that are endorsed by host communities are also out of his reach and the civil service has largely been characterized by an unholy plague of disservice.

Nigeria's GDP per capita increased by over 50% between 2010 and 2014, from approx $2,300 to $3,203. In related terms, it means that our spending power has increased. And is backed by the huge retail sector (malls, brands like shoprite, e-commerce stores like Jumia)...

2. Let's talk about infrastructural challenges since that is where you will gravitate to...

A. Power: Unenlightened people are quick to point out that power only improved marginally under GEJ. What I would want to ask you is if the vision for power under OBJ and GEJ was the same? OBJ believed in government spending, GEJ did not. OBJ invested circa $20b in Power in 8 years and all you can boast of is an increase of around 2000 MW and you are jubilating. GEJ's major plan was to involve private partnership and unbundle the sector because the vested interested of the power/diesel generator cabal made it difficult for any government-sponsored efforts to prosper. You can read up on the Roadmap on Power he unveiled in 2010.

Under Barth Nnaji, much of the reforms were instated and for the first time in Nigeria's history, millions of dollars were pumped in by private interests into the power sector. In 2013, the discos emerged. An the roadmap effect was felt.

Power generation increased from 2800MW in 2011 to 4517MW in 2015.Electricity transmission lines increased from 4,550km in 2010 to 15,760km in 2015. The electricity distribution capacity of the power sectoralmost tripled from 3,658MW in 2010 to 9,200MW in 2014. Transmission substations[b] increased from 121 to 162, with additional 122 projects under construction[/b]. In fact, under him, the first coal-to-power plant in Itobe, Kogi, to be constructed by Zuma Energy Nigeria Ltd was envisaged. As a reference, coal accounts for 39 percent of electricity generation in the US in 2014, and 41% of global electricity distribution. What's more is that we have 2 billion metric tonnes of untapped deposits around the Anambra Basin. Why did OBJ not think of it, since he was better than GEJ? What about the special CBN intervention N210b electricity fund meant to be available for private investors to borrow? Is that not better than just throwing money in the air? In fact to find out more -- check here

B. About roads, rather than just spout figures, I will ask you, can you firmly say that the road network after GEJ left was worse (or as you imply, nothing noteworthy) compared to what it was before he came in. If then, why is Fashola actually applauding the efforts of the past administration on road construction

C. Should we talk about the rail sector? When GMB supporters say GEJ brought in used trains, I like to ask which kind of trains Fashola went to inspect. And when they come up with the FG versus State Government card, I quickly remind them that the cost of connecting Los Angeles to California with a high-speed train is taking $63b and more than 5 years to build. What is the size of Nigeria's budget that you want to the government to invest in such type of white elephant projects? How are the trains in India (5th largest economy in the world), are the Mumbai trains high speed trains or the kind of trains GEJ bought. Should the emphasis not be on fueling growth rather than try to be Japan? GEJ revitalized the rail sector in Nigeria in an amazing way.

3. Let's talk about Education. How many new universities did GEJ launch? How about the massive increase in salary he gave the tertiary institutions.

4. Should we talk about Aviation and his largely successful attempt to revamp Nigeria's foremost international airports. Someone drew my attention to the Calabar Airport and how the renovation was not successful to which I asked, the money was released, contractors were chosen, and the federal aviation agency was tasked to ensure that the project was completed, who should we blame if the contractors effed up?

5. Some say the health sector did not receive any shakeup under GEJ, but he was able to contain Ebola (that killed only 20 people). When lassa fever struck in 2012, 42 people died. Under PMB, lassa fever has struck and 68 people have died under 2 months and the minister of health is busy spreading conspiracy theories of how the states are uncooperative, how it is GEJ's fault, and how it is an act of God. You said nothing happened, but polio was eradicated under GEJ.

About the reduced reserves and depleted ECA account, how would GEJ have fueled all these monumental developments, increased salaries (minimum wage and countless others, a lot of us seem to forget how often there were strikes under GEJ because everyone wanted a cut from the oil boom), and our break-neck growth speed while accumulating a giant reserve? Nigeria is neither Saudi Arabia, Norway, or China. We live in HELL, you cannot be reshaping the country and saving money at the same time. It is virtually impossible. In 2009, after the financial crisis, reserve was around $40b. In December 2014, reserves were around $30b. ECA was shared by all arms of government. Saraki and Amaechi championed the sharing calls by NGF.

Let me stop here. GEJ is better than OBJ, Yaradua, and PMB. Quote me anywhere. Voting PMB is an unforgivable mistake and you know it.

-Lord

wirinet:
Can you tell us that person you know that possesses the soundness of mind to proffer innovative cutting edge ideas to a complex Nigeria. I hope you do not mention Goodluck Jonathan.

Yes. GEJ will be a better manager than PMB of our current economic relapse. However, Nigeria does not have a leader in the polity that fits this description at the moment "possesses the soundness of mind to proffer innovative cutting edge ideas to a complex Nigeria."

My support for GEJ stems from the fact that he is a better evil than PMB.

-Lord

theV0ice:
And why shouldn't you if you feel like it?

The fact that we disagree on some issues shouldn't make us enemies or should it?

Meanwhile I'm surprised you're Muslim..

God bless you too

Nah, it shouldn't. It's okay for people to have opposing views.

I'm not Muslim. I'm non-religious, so I can use any (Allah, God, Jesus...).

All the best!

-Lord

theV0ice:
Weldone dearpreye....all you wrote up there is the truth.

While we play politics with the current realities, its a wise thing for us to individually learn from them and make sensible adjustments.

God bless you bro

Can't believe I liked your post.

Allah bless you mate!

-Lord

arresa:
[s]
I was going to dismiss your post like I did so many times because you hardly make sense or purvey sane and rational argument, in fact, you exhibit gross hypocrisy and you contradict even your own flawed and warped views, but I'll use your own quote to dismiss your flawed and senseless post..






Based on your poor and corrupt GEJ defense, should PMB be held accountable for the actions of the EFCC especially since you hypocritically asserted that GEJ should not be blamed for the actions of the EFCC under Lamorde.

In your thoughtless and hypocritical world, PMB is responsible for the actions of the EFCC while your GEJ was responsible for the actions of the same EFCC under Lamorde.

See how thoughtless, hypocritical, pointless and upside down you sound?


Unlike you and regardless of my support for PMB, he is ultimately responsible for the actions of the people he hired apart from the fact that he is the commander in chief, the president and the chief law enforcement officer.

The buck stops with the president.

Lastly, Dasuki did not approve and took the money from the CBN based on his own authority and it's on record that Okonjo approved the fund transfer to Dasuki's office based on GEJ's consent and authority according to the same Okonjo.

GEJ ultimately stole the money with his authority as the president and commander in chief and gave it to Dasuki to share. The money was made available by GEJ. No money without GEJ's approval and consent. GEJ officially stole the money.


It's on record as asserted by Metuh and Anenih that GEJ gave them the looted funds if I might add.


You really need to confine your empty talk to yourself..




[/s]

Trash!

By saying PMB is ultimately responsible for the actions of people he hired. It is safe to say that you agree that PMB is corrupt.

With that said, I have nothing more to say. At least you agreed that PMB is corrupt unlike your trashy zombie mate.

Since you can't understand English. What was PMB's reply about the trials during the media chat? If he had dissociated himself from the flagrant abuse of power by EFCC, I wouldn't have made that statement. Instead he supported it fully. Look how he dissociated himself from the NASS saga of not wanting to be part of the NSA. Why did he not do so for the EFCC instance of lawlessness?

In GEJ's case, I am yet to find where he publicly supported Lamorde for pocketing N1t. Show me if you have proof? Nonsense!

Next time don't quote me if you cannot understand English.

Nairaland should integrate Google Translate, many of you guys are very poor in deciphering the English language.

ILLITERATE, like your President!

-Lord

What constitution did PMB swear to uphold when he inaugurated?

Does the Nigerian constitution stipulate that rule of law be followed at all times or not?

Hypocrites!!!

PMB is an enemy of the Nigerian constitution, the Nigerian people, and Nigeria!

-Lord

Propaganda.

Tompolo took EFCC to court after his accounts were frozen in August last year. EFCC did not appear in courts.

Now that Tompolo supported Dickson in Bayelsa and PDP won, they have filed for his arrest.

Let EFCC respond to the suit against them, after which Tompolo will give himself up.

-Lord

Anybody could be behind it even Tompolo sef (regardless of if he supports it or not)...

One thing to know in Nigeria is that you should never be quick to confirm anything. The truth will surface in due course.

-Lord