₦airaland Forum

Naijiant:
You ain't making much sense. Contracts of over 200bn naira were awarded. There was nothing to show for it when the PTF was scrapped.

Who is the god of mismanagement and who are his ass lickers?

I'm sorry, this issue has been thrashed severally in the past so I'm not ready to go into any back and forth with you. PTF is the only govt intervention agency of its type that ever made an impact in Nigeria; from tiny cottage hospitals to roads to schools, go do your research. The only hospital in my interior village has PTF labels all over all the equipment till date. It is only individuals wallowing in chronic ignorance that would say PTF did nothing in Nigeria under Buharis leadership. Before elections the story was that "Oh yes he did something but it was 70% in the north".. now the story has changed to "he did nothing." What a confused lot...

Nuff said, you are free to keep decieving yourselves.

https://www.nairaland.com/2071401/ptf-shining-gloom-buhari-success

MonPro:
When you hammer a zombie's skull on with the truth, he will run away with tails between his legs.

Who is the zombie here? You or your father?

Naijiant:
See link above. Obasanjo described the conditions of infrastructure when he took over in 1999. The infrastructure, including health facilities, were meant to be improved with PTF funds. Buhari squandered 135bn naira and could not even fix the hospital in Daura for his own use!

Kindly remind us how much the typical budget of ptf was and what was the mandate of the PTF that you expect all the roads and schools and hospitals in the entire federation to be fixed by ptf because it was headed by a miracle working buhari?

Meanwhile isnt it ridiculously ridiculous that the very people making lame attempts to accuse buhari of mismanaging ptf funds are all ass lickers of the god of mismanagement himself?... tufia! Abeg I'm outta here!

Naijiant:
The PTF awarded contracts over 200bn naira.
https://www.nairaland.com/2959740/how-buhari-ran-ptf-full

The PTF mandate included improving health institutions in Nigeria. Daura is in Nigeria and Buhari did not improve the healthcare facilities in his hometown!.

Who said there isn't a hospital in Daura? It is not in good condition. The governor said last year that hospitals in the town are occupied by rats and lizards.
http://sundiatapost.com/2016/04/23/katsina-masari-decries-poor-state-medical-facilities/

This thread is about Buhari and PTF. Who said Jona did anything for Otuoke?

Kindly remind us of what century buhari ceased being head of ptf?

Naijiant:
No infrastructural development like a decent hospital in Daura after 4 years as PTF Chairman!

Is Daura the only city in Nigeria?.... how much money was available to ptf for you to expect a decent hospital in every locality of Nigeria courtesy of ptf?... kindly remind us of what the mandate of PTF was?.. was it purely to develop the village of the chairman?...

And by the way, who told you there isnt even a hospital in Daura?... can you prove the validity of your claims by providing any links?

Lastly, Jona who spent 5 years spending and sharing billions and private jets, is there a motorable road to Otuoke?.. is there even drinkable water in Otuoke?... does that make Jonathan a dullard?

Naijiant:
Like he is doing exceptionally well as president.

Give him the resources and he will do very well, unlike some other leaders we know who are given all the resources in the world but all we get in return are a handful of billionaires flying about in private luxurious jets without any infrastructural development to show for the massive resources.

Naijiant:
Many Nigerians don't know that as PTF Chairman for 4 years from 1994-99, Buhari was responsible to fixing hospitals in Nigeria with PTF funds.

What if he used the money for what it was intended for? Would he be missing in action in London today for 4 weeks and counting?

More: http://www.naijiant.com/articles/absentee-president-buhari-one-authors-misfortune/

Buhari did exceptionally well as the PTF chairman.

Chaii... a further 100k squeeze!

OBAGADAFFI:
LOL,

That case was in courts during the elections.

But if you feel the President got no Obligation to talk to his people so be it, nobody should complain if another set of politicians do same.

But that's exactly what i'm saying... The aggressors shouted and shouted and shouted but were roundly ignored, they were so badly ignored to the point where they started doubting their own existence. Out of the frustration, some took it upon themselves to take the matter to court; they were still ignored mercilessly until long after the election and handover before president decided to consider their plight.

omenkaLives:
Lol. Bro i swear, where i work, i turn down financial gratificatiOn/inducement from men, and the "other one" from women ALMOST EVERYDAY!

I say this with every sense of sincerity in me. Believe that.

Two persons, or lemme say three, on this forum know what i'm saying.

Lol.. right

OBAGADAFFI:
No he got lawyers and went to court .

That was long after election... After he had won and settled in, and then he decided to respond to noisy rants of the losers.

owobokiri:
Studies have it that Jonathans administration ballooned the middle class more than any other administration since the war... Essentially, Jonathans administration created the biggest middle class growth in this country through pure free market instruments and you know what? The biggest quantity of people that moved into the middle class full time during this time was the igbo. That was due to their activities in the informal sector of the economy were enhanced liberal policies that deregulated a lot of trading/manufacturing areas favored them to no end. That, you can notice by the recognizable improvements in the living standards of the aveerage igbo during this period.., new houses, new cars and greater ability to provide needed consumables to their families.

I wont go into his across the board "open-minded" policies that favored the igbo a lot in those areas as recruitment in the army, immigration and the civil service.., something that never happened since the war. . In the end, the igbo didn't vote for him because he is igbo, he is not! Neither did they vote for him because the other ghoulish guy is a fulani, Yaradua was! Igbo voted for Jonathan because to a relative level, he resembled a candidacy that wanted a level playing ground for all ethnic groups in the country. Igbo culture thrives on fair competitions.

Those of you that always heckle the igbo for voting Jonathan haven't explained to us how/why you voted against buhari three times, only to see the angel in him the fourth time! Osibande

First of all, it is not only yorubas that supported the removal of Jona, I am from the land where the sun rises but I dont buy into the GEJ-is-God euphoria which resonates in the east. Also, whilst you myopically think osinbade was the reason the SW voted against jonathan, how does this your wisdom explain the SW voting Jonathan in 2011 against the very same Buhari who ran with a 'TUNDE'?

Now to answer your question about why a Buhari who was rejected thrice was considered the fourth time, the answer is commonsensical, it is the same reason why an Atiku who has been rejected for over a decade is now being considered by a large section of people. The answer is simple, GEJ flopped and his weak leadership was disappointing and uninspiring.

Without having to digress too much, I asked you to name the projects done by GEJ in the SE which makes you think the south-easterners who supported his removal are fools, I didnt ask you for on-paper statistics and economic indices which were purely a reflection of high oil prices. Oh Yes! the economic indices looked good in GEJ's time despite the unforgivable monumental lootocracy that prevailed, but that was all a function of high oil price and excess forex in the system. The consequence of the prodigal handling of the economy then could have only been seen when the oil boom subsided, and unfortunately for Buhari, he's simply reaping the consequences of those indiscretions.

OBAGADAFFI:
He should have pushed the same Ignore button during the campaigns.

He did exactly the same when jonathanians were busy asking for 'buhari certificate' instead of campaigning for Jonathan.

owobokiri:
Few days after calling a meeting to rally igbo elites to support buhari till 2023, then this Is this man thinking at all?? Rochas brought this to himself and should be held totally accountable for this... The marginalization of the south east under buhari is now getting out of hand and those of them that supported him and fought for him and rigged elections for him in the SE have to be held TOTALLY responsible for what is going on. They carried on against all advice as if there was something they knew we didn't know, but events have proven that they did what they did for personal gratifications. To mortgage the interests of the SE just because you want to support your political friends is not the reason imo people elected Okorocha. Onu, Okorocha and Ngige need to explain what came over them..

The marginalisation in the SE today, is it worse that what happened under the last admin which many brainwashed people in the zone still revere as God-sent? Kindly mention the projects that were built in those 5 years of massive income of the last admin which makes you think it was better than this one with regards to the SE?... And please dont tell me nonsense about appointing Igbos to go fill their personal pockets in govt offices, I need tangible projects.

If you cant name at least 5 tangible projects then we would know who the real fools are between the many who wanted to kill themselves to perpetuate Jona or the ones who said they were tired and wanted to try something new.

grandstar:
And you think that an official rate of 305:and black market rate of 500 makes sense? Market mechanism is being frustrated because the president is instinctively anti-market. Thats whats causing the scarcity. The "artificial scarcity" is caused by the lack of market forces.

Why can't manufacturers get dollars? Why is our debited cards limited to $100 monthly? Why are there online exchangers trying to help people circumvent the official rates? Why is Sanusi unrelenting in condemning Buharis forex policies?

Forex reduction need not lead to the dollar shortages plaguing the country. The fault stops at Buharis door. I was there in 1984/85 and his economic incompetence is still undisputed

Supply of forex into the country crashed by almost 70% and you are still asking why there isnt enough to give to manufacturers or why the banks have to reduce the amount of fx it gives to you via your debit card?.... or are you probably insinuating that buhari is swallowing the fx which he has refused to five to manufacturers?... I understand your inclination to just view this myopically from the political angle but then, shouldnt this be common sense?....

Try and understand what Sanusi was referring to. Like I said b4, Yes the peg is affecting confidence of foreign investors bringing in their fx into the economy, but the fact remains that this fx from foreign investments makes up far less than 10% of the total fx inflow into the country. So I am yet to understand the wisdom in your insistence that Naira peg is the main cause of forex scarcity and not oil price/reduced oil production volume.

grandstar:
Nigeria is not the only oil exporter that suffered from the oil price collapse. Russia and Kazakhstan are 2 prime examples.

Both experienced massive depreciations in their currencies but without any scarcity developing! The rouble has lost about half its value but no scarcity.

If the value reflects the 60% drop in oil prices, demand will drop naturally to the new market realities. Those who can't afford the new price, will forgo buying or reduce the quantity demanded.

A point will even occur when there'll be surplus forex in the market

Also,oil only accounts for most of the country's export earnings .

However there are non exports sources such as foreign investments and remittances. Each were around $20b each in 2013.

Foreign investors have now taken flight as they are not ready to bring in dollars and exchange at the underpriced official rates. Remittances too have crashed for the same reason

Lol... You quote the demand and supply theory but you apparently dont even understand it. The value of a currency is typically hinged on demand and supply; you just said the rouble lost half its value but you strangely claim that a scarcity (reduced supply) didnt cause that? I am keen to know what factors you think exactly led to that reduction in value of the rouble since you claim a reduction in supply of fx didnt occur.

To cut the story short, a reduction in supply of fx led to a 'scarcity' which in turn forced down the value of the rouble because more roubles are now chasing fewer fx.

Now back to the Nigerian situation, the russian story is exactly the same in Nigeria but the reason Nigeria is seriously hit is because over 90% of our fx comes from oil and then Nigeria imports virtually everything.

With the value of the dollar at N500, you do not think that has reduced the demand?... Dont you think the number of people schooling or holidaying abroad has reduced?... Whilst the demand for the dollar has certainly reduced, even at N2000 to a dollar, we would still have no choice than to still have a high demand for fx because Nigeria imports virtually everything it needs including 'air'

Non-oil sources of fx make up less than 10% of Nigeria's fx supply, that's virtually a drop of water in an ocean. And something you need to note is that virtually every other source of fx inflow is also influenced by oil fx. Diaspora remittances which isnt directly affected by oil price has increased massively since the value of the Naira dropped.

OLADD:
Are you saying this because you're a fan of the president or simply displaying traits of arrogance? Can you imagine a United States president rendering himself incommunicado amidst rumour of death simply because he's on vacation? Is this how Nigeria wants to catch up with first world countries?

I'm saying this simply because I understand very well, the motive behind the questions.

grandstar:
Nice write up.

However, the uneconomic peg is the prime cause of the scarcity.

There is a difference between a reduction in dollar inflow and scarcity.

The scarcity arose by pegging the naira at a price which did not reflect market realities and especially at a time when oil prices were experiencing a free fall.

Those with dollars refuse to supply the market because its underpriced and there is excessive demand because its cheap. This mismatch caused the scarcity. If the price reflected the true market value, the scarcity will disappear.

Around June 2016, a new forex market was introduced which was supposed to enthrone a floating exchange.

The naira swiftly dropped from 197 to 367 or so before it shot up to around 310. Obviously "someone" prevented the market from doing its job.

As long as that job is left undone, the scarcity will continue.

I have written off the economy as early as June 2015 when I noticed these statist policies

Sorry brother, you are wrong. The primary cause of the scarcity is simply because there's been a more than 60% reduction in the supply of forex into the country.

At the last check, about 92% of Nigeria's forex comes from oil; oil prices crashed by over 60% and Nigeria's oil production crashed by over 50% all through 2016 due to resumed militancy. These 2 factors are principally responsible for the mess and you dont need much mathematical or economic analysis to see the clear picture.

Oh yes, removing the pegs would open up some avenue for some extra forex to come into the country via foreign investors and while that would be a very helpful thing to do now, the fact remains that no amount of foreign investments within this short time period can match the sheer volume of forex inflow which the nation is currently losing due to the oil crisis. So I fund it quite weird and out of place for anyone to think that a couple of people hoarding dollars is more responsible for the scarcity than the oil price/volume issue.

1wolex85:
Why are you wasting your time with this guy? He likes opening useless threads. Imagine blaming APC for a mistake that is clearly the fault of daily post, just imagine!

I'm actually enjoying the pointlessness of his wailing banters.

OLADD:
How did you know it was a mistake by Daily Post and not a connivance with Buhari Media Organisation? When did you become a pseudo spokesperson for the president?

So when did you become pseudo spokesperson for Daily Post abi na ApC?.. yeye dey smell.. smh

OLADD:
Is the President's sickness so precarious that he can't make a 2-minute direct conversation with his people at home? Besides, I thought Lai Mohammed and Femi Adeshina said he's "hale and hearty"? Wow! You can do better than this.

Lol... he is not going to call anyone oooooo!! If I were him, I would make sure I never call because the people who keep wailing over this call (as if their lives depend on it) are actually the people who wish buhari was dead. The real motive behind the desperate requests for the president to speak to Nigerians is just so as to know/confirm when to start the wild jubilations and street parties.

Like I said before, if I were oga president, I would totally press the ignore button; there is a capable Ag. President who is doing very well in the absence of his boss. If you have any urgent issues, go to him.

zuchyblink:
The only way Niger Delta can make headway is to be in control of what belong to them,anything short of that remains a big joke

The first step towards making headway is actually that moneys appropriated and released for developmental projects in the Niger Delta should never be allowed to end up in the pocket of few individuals; that is the biggest problem in the region which has crippled it's development since the past 15 years.

OLADD:
Which people ? Am I the Daily Post that carried the news?

Is apc Daily Post that carried the news?... What's the brain behind this your thread?

OLADD:
Project Buhari's image as being a listening leader. You and I know Buhari doesn't give a hoot about Nigerians' feelings. A president that went on vacation two days after 236 citizens were "mistakenly" killed by the military could be described as a callous leader.

Lol.. you guys take your opposition to ridiculous amusing levels. The president is sick and is attending to his health, any complaints should be channelled to the Ag. President, that's why you have an Ag. President.

Besides, on a personal note, if I were Mr President, I wouldn't make a single attempt to speak to anyone under these circumstances until I return. Anyone who says they would die if they don't hear my voice, such a person should kindly do the needful with a wet NEPA transformer. The hard truth about this whole 'where is the president?' saga is that it is coming mainly from people who wish the president dead... They just want confirmation of answered prayers.

abouzaid:
here is the link www.vanguardngr.com/2016/11/okorocha-commission-1125-hectares-land-cattle-business/

So what part of that report says Imo state is giving land to fulani herdsmen?

OLADD:
Just listen to yourself again, how can opposition elements plant a story to project the image of the ruling party? That story was concocted to reduce tension about Buhari's health.

Project which image?... Saying the president 'MAY' speak to Nigerians?... How does that project what image exactly?

@OLADD, there you go with your answer by the way....

ezivision:
@ Op, you are missing it, haters may be behind the twist in the news so as to make noise when Mr Presidio that not make any phone call, pls advice your people oooo

abouzaid:
that is the most painful part, okorocha also did the same in imo.

Lol.. Don't let lies and propaganda from dubious haters deceive you, Okorocha did not give any land to any herdsman. That issue was clarified as fake.

OLADD:
How do we know if Daily Post has not become a willing tool for falsehood and propaganda just like The Nation Newspaper.

How are we sure it wasn't one of your opposition colleagues who masterminded that report in Daily post?

I have said it before, if these new high speed trains are going to last long and serve Nigeria efficiently, the government should take its hands off its management; the trains should be immediately concessioned to private establishments that can run it as a profit making venture, not as another government liability.

Where did Bayelsa see 1200 hectares of land to 'donate' to people?

grandstar:
The dollar scarcity commenced before the bombings by militant. Letters of Credit were not being honoured by August/September 2015.

The scarcity commenced because of the pegging of the naira at 197 to the $. Soludo was first to condemn this statist and Sanusi has followed up unrelentingly. His hatred of market forces is well known.

Also the FG is not the only source of dollars.

In 2013, the country received $20b in foriegn investment,$21b in remittances and $10b from non-oil export proceeds. Last year, only about $6b came in as foriegn investment with complaints about the incomprehensible firex policies. Earnings from non exports had collapsed to $4b by 2015. Nobody will export and accept to change his dollars at official rates

Oil is the largest source of Nigeria's forex (over 90%), let's not forget in a hurry that oil price crash dealt a blow to the forex supply even before bombing of pipelines started. Regarding the drop in forex inflow from non-oil sources, you should note that forex from oil also influences the inflow from other non-oil sources and I would explain how.

The crash in oil prices which was complimented by reduction in exports (courtesy of bombings) led to a major forex scarcity. The scarcity started way back before even the new government came in and the CBN churned out over a billion dollars monthly to checkmate the scarcity (this led to a sharp drop in reserves from $38.5bn to $28.5bn just before May 2015. Despite this disbursements by CBN, the Naira still crashed from 160 to 230 even though oil still sold over $60 at the time. Of course the continued disbursements wasn't sustainable as oil prices continued to crash, hence forex restrictions started. FOrex restrictions exacerbated the scarcity and this further nailed the naira.

Foreign investors don't rush to take their money to economies at the brink of a crisis, they wouldn't take their money to economies where there is a shortage of forex to repatriate their profits and that's mainly due to the fear of their profits being trapped (several foreign airlines lamented this problem before leaving). Even the common early morning akara & akamu seller wouldn't want to take her wares to a poor neighbourhood where she may either struggle to get sales, or may be owed by her clients; this is simple logic and it explains the primary reason why foreign investors avoid Nigeria today.

The pegging of the Naira value of course isn't helping matters (except of course for the round-trippers), but it definitely isn't anywhere close to the main cause of the forex scarcity.

Oyind17:
I am beginning to hate this man

I'm sure you expected him to say the Naira was crashing because buhari is a dullard. Sorry bro, your hatred doesn't change anything, it only eats up your soul.