₦airaland Forum

Welcome, Guest: Register • Login • With Google • Trending • Recent • New

Stats: 3,344,736 members, 8,513,453 topics. Date: Thursday, 05 November 2026 at 03:08 AM

Toggle theme

Obailala's Posts

Nairaland Forum › Obailala's Profile › Obailala's Posts

1 2 3 4 5 6 7 8 ... 179 180 181 182 183 184 185 186 187 (of 589 pages)

Politics › Re: UK Targets Nigeria, Others Over ‘dirty Money’ by obailala(m): 1:10pm On Sep 17, 2018
£100 billion moved into their economy annually from corrupt individuals alone. The UK is obviously very happy about this.
Politics › Re: Ngozi Okonjo-Iweala With Mark Dorsey, Twitter CEO by obailala(m): 2:01pm On Sep 16, 2018
shizzle1:
[s]Nonsense analyses from a known buhari zombie degenerate. Did Nigeria's debt profile increase or not without any commensurate infrastructural development/achievement or not under kemi oluwole adeoshi?

@bold, You should at least have some respect for your father and family, allow them to rest peacefully. [/s]
If you read what I wrote earlier, and you had a functioning brain in your skull to comprehend it, the first quetion you should have asked yourself is if Nigeria's debt profile increased or not without any commensurate infrastructural development/achievement under NOI/GEJ even at a time when Nigeria earned 400% more than what it earned during the time of Kemi.

LordAdam, please come carry this bingo
Keep describing your family there. Ezi ohia!
Politics › Re: Ngozi Okonjo-Iweala With Mark Dorsey, Twitter CEO by obailala(m): 10:29am On Sep 16, 2018
LordAdam:
@Throwback and obailala, can you forward your complaints of NOI's incompetence to Mr Dorsey. Do quick oo, and remember to coPy Standard Chartered.

BTW, I heard your Adeosun the certificate forger fled the country like a fugitive. grin grin grin

-Lord
Even though I know you aren't, let me just assume you are an adult with a functional brain and clarify my points once again. Maybe you will comprehend my English this time and quit chasing me around like a frustrated child who's desperate to feel good about himself by teasing supposed enemies.

1. I never said NOI was incompetent. So I'm not sure why you keep running around town with that (it probably just makes you feel good). NOI is a renown economist who already had a great profile before joining government in 1999. Her CV would give her a job anywhere in the world.

2. The keypoint in my argument is, no matter how competent you might be, the team you work with matters a lot to your success. That explains why the same NOI who had a wonderful record of achievements in her team with OBJ (including clearing Nigeria's debts and growing our reserves massively), ended up screwing up in her team with GEJ by depleting Nigeria's reserves and returning Nigeria to a debt pit totalling between $50-60billion. NOI personally lamented this several times both in speeches and in her book.

3. The origin of all this banter was when you and several others on the other thread missunderstood the English of Amina Mohammed and kept dancing around on how Kemi was the one responsible for bringing Nigeria back to a debt pit of over $70bn. FYI, Kemi met between $50-60billion in total debt stock by the time she stepped in, and that striking amount was accrued under the nose of NOI most ironically at a time when Nigeria enjoyed unprecedented income.

shizzle1:
these two you mentioned are degenerates
You must be describing your father and your family there. Sorry boy, I'm not your sibling.
Politics › Re: Buhari Appoints Zainab Ahmed As Finance Minister, Accepts Adeosun's Resignation by obailala(m): 1:49am On Sep 15, 2018
jayson87:
You are still leaving in the delusion of what Buhari and Osinbajo told you, the facts are there and the indicators are there to tell who is a better manager.
You are the one livving in the delusion of politicians. In all i said, I quoted economic indices and verifiable figures, not the words of any politician. When you're given figures, it's left for you to use your head to run the analysis yourself.
Politics › Re: Buhari Appoints Zainab Ahmed As Finance Minister, Accepts Adeosun's Resignation by obailala(m): 12:51am On Sep 15, 2018
LordAdam:
NOI grounded the economy and still created more net jobs than your Adeosun who waterboarded our economy and in connivance with recession-in-chief took us into a recession as well as send 15m jobs to purgatory. While doubling our national budget and debt profile in only 3 years.

Korofo accountant. Go and tell Twitter, Standard Chartered, Gavi, Lavarde, and ACN that she grounded Nigeria's economy. Go and tell the UN DSG who served with her both under OBJ and GEJ that she grounded Nigeria's economy. Go tell the AfDB President that she grounded Nigeria's economy. Rants of a nobody.

You guys think it is still 2015. Propaganda will only get you so far. Nobody takes you guys seriously anymore aside your fellow jobless 30k propagandists.

-Lord
Oga, when $400bn flows into an economy, even if the leaders are idiots, the economy will have a semblance of flourish regardless of whether the money was spent wisely or not. But then, the only way to know whether the money was spent wisely or not is by observing what happens when the excess money stops flowing. The speed with which Nigeria's economy nosedived as soon as oil prices just began to drop is the greatest indicator of how wisely or otherwise the income boom was handled.

From late 2014, contractors weren't paid, oil importers weren't paid, $2billion had to be borrowed early 2015 to pay salaries, $10bn was eroded from the meagre reserves to defend the naira but it nevertheless fell from 160 to 230; reserves they met at around $45bn was wrecked to $28.6bn, gdp growth rate instantly began falling uncontrollably the moment oil income started dropping, less than N20bn was budgeted for the entire ministry of works in 2015 meaning that zero capital projects were to be done in 2015, of course as contractor werent paid, retrenchment of workers started. For all these to have happened instantly from the moment oil money started reducing, it was clear evidence that the whole boom in the economy between 2010 - 2014 were just a smoke screen function of high oil prices.... Air head wouldn't understand this though.
Politics › Re: Buhari Appoints Zainab Ahmed As Finance Minister, Accepts Adeosun's Resignation by obailala(m): 12:33am On Sep 15, 2018
famosh:
Man, the person you're quoting is the most deluded thing on this street! You'd furnish it with facts but it'll still delude itself with its own deluded opinion! Save your strength!
The guy is a known online troll, there was a time I promised myself never to respond to him. I dont even know why I bother today.
Politics › Re: Buhari Appoints Zainab Ahmed As Finance Minister, Accepts Adeosun's Resignation by obailala(m): 12:31am On Sep 15, 2018
famosh:
The daft Jonathan sycophants want to rewrite recent history for us like say we no follow dey this country! They think we've forgotten how the previous finance minister, Okonjo-Iweala, under Ebelemi, plunged our GDP growth from 7.68% to just 2.35% when Ebelemi left office in May 2015, plunged our foreign reserves by over $22bn, disgracefully plunged our foreign direct investment, all these despite the oil boom! Yet, the dunces want Kemi to do more than the good work she did with oil hovering around prices as low as $29/barrel within the first month of her resumption!

The daft Jonathan sycophants think we've forgotten how they scammed our youths of our hard earned N1000 & even brutally killed a lot of them in the processes under the guise of giving them immigration jobs. They think we've forgotten how Okonjo-Iweala oversaw the Dasuki-ing of our savings for elections where they were eventually disgraced!

They must be daft to think we miss those demonic vultures & want them back to destroy this country again! Never again!
Its pathetic the way many of those jonathanians clowns think. They wanted a miracle from Kemi. A feat which even more renowned persons like NOI could not achieve in times of mega unprecedented income, that's what the buffoons accuse Kemi of not being able to achieve with $28 oil price, $28bn reserves and less than 1m bpd oil production. NOI/GEJ earned almost $400bn in oil income but ended up accruing debts upon debts after crashing reserves. Kemi/Buhari earned less than $100 but even almost doubled the reserves, and were able to stabilise the economy, yet the clowns think a 400 vs 100 comparison makes any sense.
Politics › Re: Kemi Adeosun's Resignation Letter (Full Text) by obailala(m): 12:23am On Sep 15, 2018
Adekdammy:
Breaking of the rule is breaking of the rule. Forgery is forgery whether clearance cert or degree cert.
Oya go and arrest her.
Politics › Re: Buhari Appoints Zainab Ahmed As Finance Minister, Accepts Adeosun's Resignation by obailala(m): 12:21am On Sep 15, 2018
LordAdam:
One person does not determine the direction of an entire economy... Well except NOI ba?!

Stop writing all these long epistles in hopes of getting me to debate with you. Not happening. I'd continue rubbing it in.

NOI--Gavi, Lazard, ACN, Standard Chartered, Twitter.

Adeosun--Certificate Forger disgraced out of her post. A leprous patient no one will touch anymore.

Dazall!

-Lord
NOI boosted Nigeria's economy under OBJ but grounded Nigeria's economy and left us in great debt under GEJ. For anyone with any level of intelligence, it should be obvious that the team she worked with matters. I'm probably overestimating your intellects. Good night!
Politics › Re: Kemi Adeosun's Resignation Letter (Full Text) by obailala(m): 12:18am On Sep 15, 2018
Adekdammy:
The worst punishment for forgery is jail term or option of fine and not resignation .
For a clearance cert?... You think we're talking about contract papers for huge sums here?.... Even in developed climes, the worst that even happens to a person who deliberately uses a fake university degree is to be disgraced out of office. Here we talking of nysy clearance?... you even have to start by proving she did it intentionally.
Politics › Re: Buhari Appoints Zainab Ahmed As Finance Minister, Accepts Adeosun's Resignation by obailala(m): 12:10am On Sep 15, 2018
LordAdam:
Wetin concern me concern who dem appoint?

I vote for Buhari? As far as I'm concerned, the man can do whatever he likes. We warned, you guys didn't listen. We said Adeosun would be a disastrous wannabe, you guys said she'd do better than NOI. Amina Mohammed was snapped up by the UN even after serving under OBJ, Yar'Adua, and Jonathan (the so-called 3 demons of corruption). In fact, she got her first appointment at the UN after her time ended in GEJ's government. You guys think propaganda is all it takes to deliver good governance. Look how the cookie crumbled.

You guys said Buhari and Adeosun would change Nigeria. We have seen the change. There was nothing wrong in being part of the economic team whose incompetence contributed to the loss of 15m jobs when they promised they'd add 3m net jobs annually. Shey you see your life?

Next you'll tell me there's nothing wrong in Buhari's performance as President. Joker!

-Lord
Oga, there's nothing wrong with Kemis performance; quit hating on her as if she snatched your lollipop. One person doesnt determine the direction of an entire economy. You cant blame her for the recession in Nigeria, except you wanted her to perform miracles. She was appointed during the recession.

She isn't the one who killed all the refineries in Nigeria and ensured Nigeria imports it's entire 1.2 billion litres of petrol monthly. She wasnt the one who made Nigeria an import crazy nation to the point of importing palm oil, toothpick, handkerchief etc... She wasnt the one who didnt diversify Nigeria's economy for decades, she wasnt the one who ensured that Nigeria, a country of 180 million people depended on only one volatile unpredictable commodity for all its income, and neither is she the one who brought down oil prices and crippled Nigeria's economy.

She was appointed at a time when Nigeria's economy was already in the abyss with oil prices rock bottom at $30; within 2 months of her appointment, Nigeria's oil production was down to less than a million barrels. None of these was her fault so I wonder why you keep blaming her for not performing magic or comparing her with people who were in office when there was robust harvest. Even when oil prices were still up to $70, the world class NOI was already fidgeting, asking Nigerians to prepare for doom, borrowing to pay salaries, running down the reserves to save the Naira which was already crashing, owing contractors across the nation, owing fuel importers etc. And of course Nigerias gdp raye was already nosediving. Yet you think a younger Kemi who was brought in when Nigeria was already in a pit is an idiot?... You're simply a bitter hater.

In summary, kemi got into the office when Nigeria's income was down by over 80% but somehow, she was able to manage things, prevent total collapse, and oversaw the rebound from that abyss. She did well and besides hating economic illiterates, I am yet to see any seasoned economist within or outside Nigeria thay has labelled her incompetent.
Politics › Re: Kemi Adeosun's Resignation Letter (Full Text) by obailala(m): 11:39pm On Sep 14, 2018
Adekdammy:
Twisting facts to suit your favourite, you won't type these if another party were to be in govt.

She knew what she had, hence her doing the biddings of the legislooters
But like I said, she's already received the worst possible punishment.
Politics › Re: Buhari Appoints Zainab Ahmed As Finance Minister, Accepts Adeosun's Resignation by obailala(m): 11:13pm On Sep 14, 2018
LordAdam:
@obailala, make I taunt you again!

Comparing butterfly to bird. Una no c ppl like Adesina to appoint, na riff-raff like Adeosun.

grin grin grin

-Lord
Make I tell u again, there was nothing wrong with Kemi's performance as finance minister. The work of finance minister isn't to perform money doubling magic.

Okay as dem done appoint another mallam to the post, hope we're all happy now?
Politics › Re: Kemi Adeosun's Resignation Letter (Full Text) by obailala(m): 10:57pm On Sep 14, 2018
seborrhic:
Story.
The only reason Kemi resigned is because she I'd a British citizen too and the forgery would have had an adverse effect on her when she travels back to Britain.It has nothing to do with this goverment.
She knows and must have been adviced that this government would last at most another 4years,of which she isn't sure of being in the cabinet again,but her long term future in the UK and her family could be jeopardized if she doesn't admit to the forgery, only that she should blame it on her naivety.
Please when will she be charged to court?
She would have absolutely no issue in the UK. Even here in Nigeria, the worst that can happen to her is what just happened; i.e. giving up her appointment.

People saying she should be charged to court, how exactly can it be proven that she intentionally used a fake nysc clearance?... Under the circumstances, the worst punishment for the offence is what has already happened.
Travel › Re: Air Peace, Boeing sign $1.1bn aircraft acquisition, order 10 New 737 MAX planes by obailala(m): 6:11pm On Sep 14, 2018
Wow! This is massive and commendable. Abeg when are they commencing the London route?... And I hope they get a space at Heathrow.
Politics › Re: Amina Mohammed: Okonjo-Iweala Got Nigeria Out Of Debt, But We're Back There by obailala(m):
Shayetet13:
"As at May 2015, Nigeria's GDP growth rate had already dropped to 2% (from its average 6-7%); at the rate it As at May 2015, Nigeria's GDP growth rate had already dropped to 2% (from its average 6-7%); at the rate it was dropping, getting to zero (recession) was inevitable especially given that the primary factor causing the drop (low oil price and meagre reserves) was getting much worse. was dropping, getting to zero (recession) was inevitable especially given that the primary factor causing the drop (low oil price and meagre reserves) was getting much worse."
provide a reference to the above unfounded statement.
Like I said before, oil prices began to crash from mid-2014. At the time, Nigeria's GDP was between 6-7%. At the time of handover in 2015, GDP growth rate had nosedived to 2.35% and with the forces which caused that still being very active and even worsening (oil price drop), hitting zero was inevitable... Of course many Nigerian youths don't know this, all they know is PDP vs APC rants and some textbook fairy tales from magician economic analysts.
2Q 2014, Nigeria's GDP growth rate was 6.54%,
3Q 2014, Nigeria's GDP growth rate was 6.23%
4Q 2014, Nigeria's GDP growth rate was 5.94%
1Q 2015, Nigeria's GDP growth rate was 3.96%
2Q 2015, Nigeria's GDP growth rate was 2.35%

www.nairaland.com/attachments/5411323_gdp_gifa9b921e6218c89d27c14de9cfcfe7d21
https://tradingeconomics.com/nigeria/gdp-growth-annual

Because you could not find Angola in recession anywhere, you called it pointless and ignorance. Forgetting that despite the fact that the oil drop hit countries hard, but only Nigeria slipped into recession. Why? The decision to delay devaluing Nigeria's currency meant many businesses struggled to get foreign currency to pay for imports, which had a cooling effect on the entire economy. The Buhari's govt latter after serious pressure allowed the naira to float, which should have been done much earlier.
The reason I called it pointless and ignorant was because the Angola you mentioned was a very ridiculous and laughable example which exposed your ignorance. Since the oil price slump, Angola's economy hit the rocks, they are still yet to recover from the recession even in 2018. But of all nations, it was Angola you chose to mention as example?... It's sad that you have access to internet data but can't do simple research with google, sad!
https://d3fy651gv2fhd3.cloudfront.net/charts/angola-gdp-growth-annual.png?s=angolagdpyoy&v=201808291220x&d1=20140414&d2=20180914&type=column

And point of correction, Algeria never used $100bn to fight recession, i dont know where you get this your road side economics. Algeria spent so much cos of high import bills.
The primary cause of Nigeria's recession was the scarcity of forex due to the low inflow from oil sales during the oil price drop, coupled with a lack of adequate forex savings in our reserves to meet Nigeria's massive import . When there's such a reduction in forex inflows, countries fall back to their foreign reserves to meet up with their forex needs to prevent the sort of crisis Nigeria faced between 2015 and 2017. Here's a brief excerpt from a reuters report on Algeria's reserves:

"Reserves were $97.3 billion in December 2017, down from $114.1 billion the previous year, $144.1 billion in 2015 and $178 billion in 2014, when crude oil prices started falling, until partly recovering this year."
https://www.reuters.com/article/algeria-reserves/algerias-forex-reserves-fell-by-73-billion-in-jan-may-pm-idUSL8N1TP0M8

Like I said before, Algeria's reserve dropped from about $194billion (January 2014) to about $97billion in December 2017; a reduction of almost $100billion to ensure the economy wasn't strangled by the kind of forex crisis which Nigeria faced. Here's a little chart of the foreign reserves for Algeria.
https://d3fy651gv2fhd3.cloudfront.net/charts/algeria-foreign-exchange-reserves.png?s=algeriaforexcres&v=201804091419x&d1=20080101&d2=20181231&type=column

[s]Thats on record. Nigeria had sufficient internal elements to prevent it from slipping into recession only if the govt did the right things when the oil crisis hit. It is well known that countries have economic crisis, even the united states of recent times, but they hardly slip into recession. So blaming Nigeria's recession of the previous government that passed out several months before recession hit is dumb. Cos those months after the oil crisis were more than enough to put solid policies that will revive the economy of any nation talkless of a large economy such as ours[/s]
If you are interested and if you're ready to pay me for more of my time, I can show you a breakdown of how Saudi Arabia spent about $200billion within the same period to stabilize their economy and prevent the economic crisis/recession. Every single country that's dependent on purely oil for their forex went through some form of crisis; only countries with substantial reserves survived it. Even Nigeria attempted to fight it between 2014 August and March 2015 with almost $10 billion take from the reserves; but with our reserves dropping to a dangerously low level (below $30billion for an import thirsty nation of 180million mouths) and with no hope of oil prices climbing any time soon, we couldn't plough further into reserves, and therefore forex hoarding hit the streets and destroyed everything. The previous govt was just lucky to bailout when things were about to get really nasty.

Education is key, and it doesn't end in the classroom. With the internet data you have, you really don't have an excuse for being unable to conduct a little research before coming online to label people liars whilst exposing yourself.
Politics › Re: Nigerians React To Kemi Adeosun's Resignation Over Fake NYSC Certificate Scandal by obailala(m): 3:48pm On Sep 14, 2018
LordAdam:
@obailala, you see your life?

See the korofo wen mk u no 1 let me hear word. Resigned for forging NYSC certificate. This is the thing that's better than NOI. It's her mate that is the current UN DSG. Continue supporting incompetent wannabes, your cup go full...

-Lord
I never said Kemi is better than NOI; the latter is obviously more experienced. But the criticism and blasting Kemi has received over performance is nonsense. It makes no sense comparing the performances of 2 finance ministers when one oversaw plenty whilst the other reigned during a time of drought; it's an unfair and imbalanced comparison and such can only be done by inconsiderate trolls.

Another factor you have to also look at is the boss of the minister. The same NOI who performed wonderfully well under OBJ returned under GEJ and ruined her profile; of course many are too myopic to have noted that.

2 days ago a thread was opened making one of those thoughtless comparisons bothering on how NOI cleared Nigeria's debts down to $3bn and how Kemi came in and pushed our debts to over $70bn. Of course majority of those commenting on the thread were too myopic (or should I say too dumb) to just ask the vital questions. The question that should have been asked was, the NOI who was hailed for her debt reduction feat under OBJ, to what level did she grow Nigeria's debt profile between 2010 and 2015, a time when Nigeria earned unprecedented income?... The narrative on that thread made it seem like Kemi grew the debt from 0 to over $70bn.

There is nothing unusual about people borrowing to survive during times of income drought. Between 2010 and 2015, Nigeria earned almost ~$400bn from oil sales but between 2015 to early 2018, Nigeria earned less than $100bn; in both periods, Nigeria borrowed massively. Does much need to be said about this?
Education › Re: Covenant University Sex Scandal: Photos, Audio Of Adooh Emmanuel by obailala(m): 8:35am On Sep 14, 2018
This dude was a real dumbass. After winning his case in court, was it even necessary coming out in public to spew trash?... Especially to the point of lying against and calling out the names of people who knew the truth? .. what sort of pathological stupidity makes one to do that?

Now the idiot has just give the authorities of CU the right to invade the privacy of real innocent students.
Politics › Re: Buhari Appoints Yusuf Magaji Bichi As New SSS Director-general by obailala(m): 2:12am On Sep 14, 2018
This one weak me I swear... This aboki is just irredeemable undecided

Crime › Re: Jones Abiri Wins FG In Court, Awarded N10m Damages by obailala(m): 3:04pm On Sep 13, 2018
Just 10 million? undecided
Politics › Re: Amina Mohammed: Okonjo-Iweala Got Nigeria Out Of Debt, But We're Back There by obailala(m): 12:51am On Sep 13, 2018
wirinet:
Don't mind wailers (pdp and it's allies), if Okonjo-Iweala and Jonathan were still in charge of the economy when crude crashed to $30, the recession we faced under Buhari would have been child's play. We would have been worse than Venezuela.

Wailers should tell us, which oil exporting country that was not adversely affected by the oil crash.
Its really sad that people still come up with the senseless argument suggesting that the immediate past government was any good in terms of financial responsibility.

Under the last five years of PDP, Nigeria made almost $400bn from oil sales but still ended up borrowing massively and even running down the country's reserves from about $45bn to $28.6bn. Under the present government, Nigeria has made less than $100bn from oil sales but reserves have been built up marginally to about $47.

It's acknowledged that the debt stock is pretty high and disturbing, but given the above scenarios, only a capital buffoon would think the last govt was better than the current in terms of debts accrued.

I wouldn't even want to talk of the ignoramuses who keep coming up with the silly argument that Nigeria was economically robust prior to handover. With Nigeria's GDP growth rate nosediving from over 6% to 2% in the periods prior to handover (due to oil price drop), only illiterates would argue that the current govt ALONE was responsible for the rate hitting the zero mark even when it was obvious that the uncontrollable economic factor which led to the crash (i.e. oil price drop) kept getting worse.
Politics › Re: Amina Mohammed: Okonjo-Iweala Got Nigeria Out Of Debt, But We're Back There by obailala(m): 12:35am On Sep 13, 2018
modik:
So three[3] years after, where are we now?

Those who rescued Nigeria from PDP's perceived "Mismanagement and looting " can we safely conclud they are now more skilled in mismanagement and looting, hence impoverishing Nigeria the more?

Sad!
Mr A borrows during a period of plenty. Mr B borrows during a period of drought. Only an unwise person attempts to compare both scenarios.

Under the last five years of PDP, Nigeria made almost $400bn from oil sales but still ended up borrowing massively and even running down the country's reserves from over $40bn to $28.6bn at the time of handover. Currently under the present government, Nigeria has made less than $100bn from oil sales but reserves have been built up marginally to about $47.

Any sympathiser of the last government who sees this $400bn vs $100 comparison but still thinks it makes sense to mock the current govt and then praise the last govt over debt issues must really need help.
Politics › Re: Amina Mohammed: Okonjo-Iweala Got Nigeria Out Of Debt, But We're Back There by obailala(m): 12:21am On Sep 13, 2018
Shayetet13:
Your earlier statistic is crap and unfounded. Show me a link to such unfounded statistics. However, it was true that the oil price was going down and then i ask, and so what? Was Nigeria the only country that its oil price was going down? Why didnt Angola go into recession? Why didnt algeria go into recession? Since they too were dependent on oil
Unfounded?... Can you kindly point out the exact sentences you want me to provide reference for?... I'll be glad to provide references for every single word I typed above cos I didnt type rubbish.

By the way, your references to Algeria and Angola not falling into recession are very watery and pointless comparisons. Different countries have different buffer measures against economic shocks such as the loss of value of their main trade commodity. A country like Saudi Arabia for instance with 1-sixth of Nigeria's population had 25 times more forex ($750bn) stored in their reserves for eventualities like a drop in oil prices. Similarly, Algeria with just over 1-fifth of Nigeria's population had about $195bn in forex reserves prior to the oil price drop. As at 2016 ending, Algeria's reserves had dropped to less than $100bn; that is to say it cost the Algerian central bank about $100bn in reserves to prevent a recession.
https://tradingeconomics.com/algeria/foreign-exchange-reserves

Your country has over 180 million mouths which are fed only by oil. By mid 2014 when oil prices crashed, how much did your expert leaders have in reserves to counter the impending recession?.... Oh sorry I forgot, Buhari should have manufactured forex to prevent recession...

By the way, your comparison with Angola as one of the countries not affected by oil price plunge is obviously out of ignorance, my apologies.
Politics › Re: Amina Mohammed: Okonjo-Iweala Got Nigeria Out Of Debt, But We're Back There by obailala(m): 11:49pm On Sep 12, 2018
Shayetet13:
What was her performance under GEJ? Did she lead Nigeria to recession? Oh, i remember, Nigeria became the largest African economy during GEJ
Yes she did; Nigeria was already on the pathway to recession by the time she and GeJ bailed out of the sinking ship in 2015, only for the new captain to come in and was punished with 100% of the blame.

As at May 2015, Nigeria's GDP growth rate had already dropped to 2% (from its average 6-7%); at the rate it was dropping, getting to zero (recession) was inevitable especially given that the primary factor causing the drop (low oil price and meagre reserves) was getting much worse. Also, Nigeria's forex reserve was dropping rapidly (it dropped from ~$40bn to $29bn within 7 months), exchange rate had also dropped from N160/$ to N220 just in early 2015, virtually nothing was allocated for capital expenditure in the 2015 budget (e.g. the Works ministry got less than N20bn for the whole country in 2015), the government was so badly short of cash that over $2bn had to be borrowed in Feb 2015 for things like salaries, fuel importers were owed subsidies running over $2bn in the last 8 months prior to handover, etc etc.

All of the above happened when oil even still sold for over $60. But we all know how oil prices plunged further to less than $30 and how production volumes dropped by over 60% after the new govt took over. But still we have people who think and argue that all was rosy when NOI and GEJ handed over... Wouldn't even know whether to call this ignorance or just.
Politics › Re: Amina Mohammed: Okonjo-Iweala Got Nigeria Out Of Debt, But We're Back There by obailala(m): 11:21pm On Sep 12, 2018
I see a lot of wailers foaming in the mouth over this report.

NOI/OBJ reduced Nigeria's external debt to $3bn and even saved over $60bn for Nigeria in forex; that was very commendable.

But a simple question for the the numerous clowns blasting Kemi on this thread; during the 5 year period between 2010 and 2015 when Nigeria made unprecedented high income from oil to the tune of almost $400bn, how much debt did NOI/GEJ incur for Nigeriahuh?... What was Nigeria's total debt stock as at May 29th 2015?.....

No need to even talk of the forex reserve that was depleted to less than $30bn even during the years of plenty, or the fact that Nigeria under GEJ/NOI borrowed over $2bn in February 2015 to offset recurrent bills including salaries. Someone also forgot the over $2.5bn (over N500bn) in subsidies owed to fuel importers which had to be offset by the new govt.
Education › Re: Olumuyiwa Oludayo: Sex Scandal Covenant University Lecturer Chat Leak By Student by obailala(m): 11:41am On Sep 12, 2018
HigherEd:
Dr Oludayo isn't just any lecturer, he is the Registrar.
Women likes him and he also likes women... As long as he isn't forcing anyone, i don't think it's much of a deal.
As I understand, the only reason this chat was released or why this is even news is because this very school actually expels students when they find such harmless adult to adult chats in the private facebook or whatsapp messages of their students.

I hear a student who is suspected could be asked to surrender the user details and passwords of their private social media accounts for the school authority to interrogate if they've engaged in 'inappropriate' communications or acts. Once caught, the student faces disciplinary actions and can be expelled. It's even more intetesting when you know that this very man has expelled several persons for the very act he's involved in.
Politics › Re: Omosede Igbinedion Congratulates Femi Otedola As "Next Governor Of Lagos" by obailala(m): 9:00am On Sep 12, 2018
Can Ambooo really be removed?... Too many jokers around.
Politics › Re: Eket Senatorial District Mega Rally For Buhari And Nsima Ekere. Pics And Videos. by obailala(m): 7:15pm On Sep 11, 2018
Everyday politicians just pull out these massive crowds from their homes, even in the middle of the week?

There's really a severe unemployment crisis in Akwa Ibom state.
Politics › Re: IPOB September 14 Sit-At-Home Order: Police Speak, Vow To Arrest Lawbreakers by obailala(m): 7:04pm On Sep 11, 2018
marvinsync:
first of all u have no proof that the miscreants are directly related to ipob , this is igboland , some youths make take it upon themselves to enforce the order that they strongly believe in . nothing to do with ipob. cause like u said they existed b4 ipob


secondly I just gave u paragraphs where the he police said they would put on a "show of force" to warn ipob members and that they'll "stop"(?) the order

they are clearly attacking and targeting ipob and their members and yes I know they aren't gonna arrest people in their homes ( of course)
When I say they existed b4 ipob, do you need special tutoring to understand that I referred to Massob?... or arent you aware that massob existed b4 ipob?

Why do I even bother responding to these kind of directionless emotional arguments?.... Abeg sorry! My bad!... The youths and street urchins who rampage about to enforce IPOB orders are OPC members, not ipob. Also, the police is intemding to go and arrest individuals who chose to sit peacefully in their houses. We will not take it!!!!

Okay Bye!

1 2 3 4 5 6 7 8 ... 179 180 181 182 183 184 185 186 187 (of 589 pages)