"Buhari Has Borrowed More Than All The 14 Presidents Before Him COMBINED!" - Reno Omokri

Reno Omokri stated that the president of Nigeria, President Muhammadu Buhari has borrowed money more than all the 14 Nigerian Presidents before him combined, IgbereTV reports.

Sharing a collage photo of President Buhari and Nigeria's past leaders, Reno wrote on Instagram;

"Many Nigerians are blissfully unaware of how indebted their country has become under Muhammadu Buhari. Let me put this into perspective. Buhari is the 15th President of Nigeria. But in six years, he has borrowed more than all the 14 Presidents before him COMBINED!

And what is he using the money for? To build a $2 billion railway in Niger Republic. A country whose entire GDP is less than $14 billion (Google it). Anambra alone has an internal GDP that is three times that of Niger Republic’s. Why has Buhari not built a railway for them? Oloriburuku man!

#TableShaker #BuhariTormentor"

https://www.instagram.com/p/CXpEgiHjkI-/?utm_source=ig_web_copy_link

If only Jonathan's government did what was right with our money instead of buying bra up and down.

Notably, Reno, Fayose, Nnamdi Kanu, Fani Kayode and Ortom are brids of a feather. They talk before thinking. No body takes them serious.

There was a country.. fullstop

Buhari right now

No! I don't believe in this. So Buhari need to Defend himself on this alligation. So....

benuejosh:
If only Jonathan's government did what was right with our money instead of buying bra up and down.

Stop making your stupidity obvious, EFCC has debunked the fake news

Singing in P-Square voice

No be lie eeeh

I say no be lie eeeh

No be every body way sleep for night

Wake up see the light eeeh

Reno go siddon.
Always mentioning igboland. What happened to using your state as reference?


We will not fall for this anymore.


We don't want your pity anymore.
Come to think of it,what did Jonathan, your oga govt did for Anambra and igboland in general?

Reno is a Foolish hypocrite Pastor.

Reno said he will never speak on politics again, he's still showing in politics. The man he's fighting for is good friends with Buhari. The man he's fighting for is working for APC, the man he's fighting for is working with PDP, the man he's fighting for is at peace with Buhari and the man he's fighting for did nothing for igboland (prove me wrong)

He calls Buhari a tyrant but everyone who has a contrary opinion cannot share theirs but gets blocked. I've never seen such hypocrite in my life.

Can he compensate for inflation and cube back and meet me?

He's saying Buhari borrowed. The ones that didn't borrow, where are the projects. Please list all the projects that were completed and I'll show you 5x more abandoned projects even the ones that never started especially that 16bn.

When it comes to the masses direct improvement of life Buhari failed woefully. Insecurity, economy, inflation but truth be told he has done now infrastructure than past presidents combined.

Reno is just a manipulative hater and not a Christian the Holy Spirit has left him a long time ago.

I will tell it to his face and he cannot block me in real life he can only kill me to shut me up from telling him the truth.

Nonsense human being.

The electoral act that he failed to sign is even what is getting me upset, loans can be repayed, but electoral reform would make Nigerian politics standard and remove money factor


.

Look at this dog ...just barking and throwing tantrums up and down



Your igbo backup no dey again

We will bundle you back like that kanu

STFU Reno

Buhari is a yahoo boy

benuejosh:
If only Jonathan's government did what was right with our money instead of buying bra up and down.

Fool like you,

The harsh reason why Buhari is borrowing is simple

The oil price is and has never been at the level we need it to be to adequately fund our budget.

Oil amounts to a small percentage of our GDP but a large percentage of our budget revenue.

In 2012, our breakeven oil price was 122 dollars per barrel. In 2017, it had gone up to 139 dollars per barrel. Now it is 133 dollars per barrel

Oil prices were at 75 dollars per barrel in 2015 when Buhari took over, and have been as low as 20 to 30 dollars at some points since then.

Meanwhile our population and by extension our Forex needs have been growing

The alternative is to raise our tax to gdp ratio from its 6.4% to fund the budget. But that means taxing the 70% of Nigerians who don't pay income taxes due to working in the informal sector.

So we take loans to fund the budget.

Now oil is below 70 dollars per barrel, breakeven is 133 dollars meaning we lose 60 dollars per barrel of oil sold
At one point under Buhari it has been as high as 80 to 100.dollars below the breakeven.

At the end of the day, we tax everyone in this country, including beggars, farmers, and even hawkers, to raise the tax to gdp ratio drastically, or we take loans and more loans to cover the difference between the actual crude oil price and the price it should be at to sustain us.

Because taxing everyone is not politically popular, we take loans instead.


( Buhari is a bad leader, and not someone I would vote for ever, so don't go there. I wish we could get some technocrats in office really


Again, Buhari is a bad leader who has failed in diversifying the economy which could have helped.)

benuejosh:
If only Jonathan's government did what was right with our money instead of buying bra up and down.

Even in death you re talking trash.... Your case is beyond terrible

Reno Omokri can only deceive PDP wailing losers.


Despite receiving the highest revenue since 1914, Dumbluck Jonathan still borrowed massively to pay salary and drink Ogogoro.

benuejosh:
If only Jonathan's government did what was right with our money instead of buying bra up and down.

Shut up!!

backbencher:
The harsh reason why Buhari is borrowing is simple

The oil price is and has never been at the level we need it to be to adequately fund our budget.

Oil amounts to a small percentage of our GDP but a large percentage of our budget revenue.

In 2012, our breakeven oil price was 122 dollars per barrel. In 2017, it had gone up to 139 dollars per barrel. Now it is 133 dollars per barrel

Oil prices were at 75 dollars per barrel in 2015 when Buhari took over, and have been as low as 20 to 30 dollars at some points since then.

Meanwhile our population and by extension our Forex needs have been growing

The alternative is to raise our tax to gdp ratio from its 6.4% to fund the budget. But that means taxing the 70% of Nigerians who don't pay income taxes due to working in the informal sector.

So we take loans to fund the budget.

Now oil is below 70 dollars per barrel, breakeven is 133 dollars meaning we lose 60 dollars per barrel of oil sold
At one point under Buhari it has been as high as 80 to 100.dollars below the breakeven.

At the end of the day, we tax everyone in this country, including beggars, farmers, and even hawkers, to raise the tax to gdp ratio drastically, or we take loans and more loans to cover the difference between the actual crude oil price and the price it should be at to sustain us.

Because taxing everyone is not politically popular, we take loans instead.


( Buhari is a bad leader, and not someone I would vote for ever, so don't go there. I wish we could get some technocrats in office really


Again, Buhari is a bad leader who has failed in diversifying the economy which could have helped.)

Always indirectly supporting this useless government.. Nonsense as usual.

helinues:
STFU Reno

jobless apc miscreant.

But Zombies and Tinubu urchins keeps cheering him on.

Very foolish and stupid idiots.

All for the ambition of Tinubu that will follow him to his grave like Awolowo and Abiola own did.

Jack005:
Always indirectly supporting this useless government.. Nonsense as usual.

This is not a support of the goverment, but a statement of the problem we face.

This is the problem we have faced since independence. Most of our revenues come from what we export. The price of what we export is never at the level we want it to be . So we go into debts

That's why most African countries , not just Nigeria have debts.

The best way to deal with the debts is to diversify the economy and to eventually become industrial. Which your friend Bihari has failed to do, so I don't support him.

My main reason for not supporting Buhari has a lot to do also with the fact that he was voted in to do what he did in 1984. Nigeria is no longer in 1984. We needed someone for today's challenges,not yesterday's.

backbencher:

In 2012, our breakeven oil price was 122 dollars per barrel. In 2017, it had gone up to 139 dollars per barrel. Now it is 133 dollars per barrel

Do you know the meaning of breakeven?

So we take loans to fund the budget.

Now oil is below 70 dollars per barrel, breakeven is 133 dollars meaning we lose 60 dollars per barrel of oil sold

We lose nothing actually!

For future sake. Know that losses are only incurred when production cost is more than sales price.
It cost Nigeria 21 to 30 dollars to produce 1 barrel. Let's go with the higher price.
For how many years under Buhari has oil sold below $30 to warrant your loss narrative?

Buhari is borrowing with recklessness because he can. Nothing more.
He doesn't understand the concept of prudence in government.
For comparison, there is no administration in Nigeria's history that can fund Buhari's
extravagant budget regardless of oil price.

Unfortunately, most of his projects can't fund their own maintenance let alone repay
the loans used in funding them.

Why didn't the same idiots who criticize this complain that PMB is building railway that connects to the sea? The same railway this folks take about have over 90% of its construction in Nigeria but it is the less than 10% that is the focus of this failure par excellence.

A man who stole the identity of a child in the service of thieving administration. That is the sort of man nairaland has given front-page rights.

benuejosh:
If only Jonathan's government did what was right with our money instead of buying bra up and down.

Your excuse sounds lame.

The compound fool fail to demonstrate his point only, only used tribalism and religious fanaticism to support his point. The greatest envy most PDthieves have against PMB is the sheee quantity of infrastructure provided with the little resources. They are prostatitis perpetually in tears.

descarado:
Reno go siddon.
Always mentioning igboland. What happened to using your state as reference?


We will not fall for this anymore.


We don't want your pity anymore.
Come to think of it,what did Jonathan, your oga govt did for Anambra and igboland in general?

You don't need to fall for anything. He stated the obvious. It is your cup of tea if you fall or not.

ivolt:

Do you know the meaning of breakeven?


We lose nothing but I don't expect you to understand simple economics.

For future sake. Know that losses are only incurred when production cost is more than sale price.

1. Breakeven, or the Fiscal Breakeven oil price which is what I mean, is the price we need our crude to be at to fund a budget without borrowing at all.

Or the oil price needed to run a fiscally balanced budget.

If the Fiscal breakeven price is more than the actual oil price,that means a deficit budget. Which is what we have been running basically,and not just under this administration ( it's the same reason why we took loans under GEJ and many a previous admin)

2. Because our oil price is never at the fiscal breakeven oil price we have to borrow to cover the resulting deficit many times.

3. I'm not here to defend Buhari, just to show how our dependence on oil to fund our budget leads to issues.

4. Fiscal breakeven varies from country to country. Nigeria has the highest fiscal breakeven for many reasons.

More information here
https://www.kapsarc.org/research/projects/revisiting-fiscal-breakeven-oil-prices/

Horlufemi:
Reno is a Foolish hypocrite Pastor.

Reno said he will never speak on politics again, he's still showing in politics. The man he's fighting for us good friends with Buhari. The man he's fighting for is working for APC, the man he's fighting for is working what's PDP, the man he's fighting for is at peace with Buhari and the man he's fighting for did nothing for igboland (prove me wrong)

He calls Buhari a tyrant but everyone who has a contrary opinion cannot share theirs but gets blocked. I've never seen such hypocrite in my life.

Can he compensate for inflation and cube back and meet me?

He's saying Buhari borrowed. The ones that didn't borrow, where are the projects. Please list all the projects that were completed and I'll show you 5x more abandoned projects even the ones that never started especially that 16bn.

When it comes to the masses direct improvement of life Buhari failed woefully. Insecurity, economy, inflation but truth be told he has done now infrastructure than past presidents combined.

Reno is just a manipulative hater and not a Christian the Holy Spirit has left him a long time ago.

I will tell it to his face and he cannot block me in real life he can only kill me to shut me up from telling him the truth.

Nonsense human being.

Has Buhari borrowed more than other presidents combined? Yes or no?

Is Anambra GDP more than that of Niger Republic? Yes or no?

Does it make economic sense for Buhari to build railway into Niger Republic, while ignoring a Nigerian state?

Your reason is empty