₦airaland Forum

ruggedtimi:
It was the magic of Ngozi Okonji.

happney65:
You think Obasanjo is a tribalist like the current ones in power? Absolutely NO. OBJ doesn't care where the hell you are from as long as you can do the Job. Go Ahead.

And that is why since 1999,He had the best economic indices. These ones now blaming themselves didn't even have it worst as we did in 1999.

I keep on wondering what they would have said if they were the ones that took over in 99. They would have simply sold us off to China or somewhere else

Awọn Oluya

P.S
The Obasanjo years were even a period of very low oil prices. Yet,he still increased minimum wage that had been stagnant for years. This post deserves FP.
Mods over to you

Felimax:
No one has it as good as Obasanjo.
He knew the task ahead and was ready to face it head on.

One beautiful thing about Obasanjo I so much love about him is he not tribalistic and you cannot even fashion him to any religion.

He was the president for everybody, Yar'Adua also to an extent.

happney65:
You think Obasanjo is a tribalist like the current ones in power? Absolutely NO. OBJ doesn't care where the hell you are from as long as you can do the Job. Go Ahead.

And that is why since 1999,He had the best economic indices. These ones now blaming themselves didn't even have it worst as we did in 1999.

I keep on wondering what they would have said if they were the ones that took over in 99. They would have simply sold us off to China or somewhere else

Awọn Oluya

P.S
The Obasanjo years were even a period of very low oil prices. Yet,he still increased minimum wage that had been stagnant for years. This post deserves FP.
Mods over to you

chopnaira:
Very true. Unlike the agulu man.

chopnaira:
You are correct.

Felimax:
You are so sick of him right?
May God heal you of Obi syndrome. The disease is really going viral. E pele!

chopnaira:
High oil prices actually.

CodeTemplarr:
Better than that scam published yesterday. Also of importance is debt and major money saving policies like subsidy removal. Imagine if refineries had been privatised too. More savings.

004gist:
What magic did obasanjo did that helps us grew the reserve this fast?

EXTERNAL RESERVES SINCE 1999 — BY GOVT

🟢OBASANJO — grew by 845%
May 1999 — $4.99 billion
May 2007 — $43.17 billion

🔴YAR'ADUA — dropped by 6.6%
May 2007 — $43.17 billion
Apr 2010 — $40.32 billion

🔴JONATHAN — dropped by 29%
Apr 2010 — $40.32 billion
May 2015 — $28.57 billion

🟢BUHARI — grew by 20%
May 2015 — $28.56 billion
May 2023 — $34.39 billion

🟢TINUBU [Ongoing] — grew by 19%
May 2023 — $34.38 billion
As of 20 Aug 2025 — $41.05 billion

chopnaira:
High oil prices actually.

004gist:
Honestly they carefully removed OBJ tenure and made it look like tinubu is achieving more.

Whereas its OBJ that achieved wonders even with little income from oil and huge amounts of debt facing him

aribisala0:
Describing it as magic indicates that you are clueless about what Foreign Reserves are
I understand many people see the words Reserves and think it is some kind of savings account or money set aside for the rainy day
It is none of those things
It does not even belong to the government
It belongs to the Central Bank
Some might say but is it not the government that owns the bank
Yes
Just like other owners own other banks the other bank owners do not own the cash or deposits in their vaults

The Foreign reserves are like those deposits and the holders of Naira are the depositors if the depositors continue to import without exporting the Reserves will shrink and vice versa

If you have Naira in your account you are a shareholder of those reserves

The NAIRA IS A CBN DEBT OR PROMISORY NOTE A CBN LIABILITY
THE R3SERVES ARE CBN ASSETS THAT BALANCE THE LIABILITY
Without reserves the Naira is an empty promise

When Foreign airline talked of trapped funds what they meant is they have Naira and want to change it for dollars and there is a delay on the CBN SIDE

004gist:
..

So what is your point now?
Because am asking how come obasanjo was able to grow the reserve to over 800% from 4billion to 40+ billion within 8 years despite low oil prices

happney65:
You people can lie. As in pure blatant lie. There was no time oil prices reached $100 mark under Obasanjo. Haba. Infact OBJ meet it at $17 per barrel and it went to about $65 by the time he left in 2007.

It was only during GEJ that it went to $100 per barrel and pass the $100 mark

Like we tell you people, propaganda doesn't do government. You can win with propaganda. You can't rule with it because your ineptitude can't be hidden.

Eyin Opuro oshi.

https://www.thecable.ng/fact-check-no-oil-price-wasnt-100-per-barrel-between-1999-and-2019-as-buhari-claimed/

chopnaira:
You have Google on your phone. Use it.

I do dont have time to explain right now. but I posted the output from two AI. Check out the number one answer of both.

1. Chatgpt
2. Grok 3.

Perhaps, you would accuse chatgpt and grok 3 of propaganda too.

helinues:
There is something mutual about those who increased the FX they met. They all have political will.

President Tinubu is just 2 years old, oil price have not been that high but still saving .I am just imagining what our FX would be by 2031.

And to those who have been shouting it should have been more than that because if the subsidy removal, how about the state governors that their money have been increased for over a year now? How about different projects across the Nigeria regions?

Nigeria is in the right direction with president Tinubu