₦airaland Forum

Felimax:
Rest naaaaw!
No campaign of calumny can prevail against Obi.

Once upon a time I never really liked Obi but to be honest the man has set a standard and as it stands no one seem to be getting it right.

You are talking of Obi and Ngige and don't forget that Ngige is his fellow tribeman. Obasanjo likewise did similar things and that is not because he hates his Yoruba brothers but wanted the best as long as result is concerned.

What you posted about Obi is just so silly. You guys should work harder.
What is ahead of you is so huge.

Did obi play dirty against Ngige, true or false??

What he posted about obi is silly but what you and your folks post about other politicians you hate is what

You all can't really stand what you throw at people.

Kokodeni:
Keep quiet
They actually forgave our debt during obj tenure

You don't need to be aggressive to prove a point sir.

To be fair, you're actually proving his point more and more. With the help of a strategic economic team and an impeccable relationship with the international community, OBJ lobbied and worked tirelessly with foreign leaders for the debt to be written off.

I don't think of any other Nigerian leader that has been able to achieve such feat. Please correct me if I'm wrong.

Goke7:
Obj is now the new messiah 😂

Nigerians get problem sha always feeling nostalgic of the yesterday’s failures

Whenever they feel let down by their current saviours, they always go way back to the past to raise up a 'messiah' they can brag with.

It's sickening that this topic is about the "magic" obasanjo did that increased our foreign reserve. But no, some of you guys have turned it into a smear campaign on Obi.

Una dey craze?!! On top wetin?

Y'all don't worry, thank God all of us go to the same market, una eye go really clear well soon. Continue peddling tribalism, religion bigotry and collecting pennies to sell your soul. My own is that, me and my family will keep moving from heights to higher heights.

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
(Quote) (Report) 3 Likes (Like) 1 Share (Share⤴)



With this information are we still in doubt that APC government is better than PDP government?.

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

How on earth should he not have achieved it? Should he not have done a single tangible thing in 8 years despite his atrocities?

Guestmale:
With this information are we still in doubt that APC government is better than PDP government?.

Lolz, so you didn't have this information before? All this kids

Goke7:
Obj is now the new messiah 😂

Nigerians get problem sha always feeling nostalgic of the yesterday’s failures

Shows how relative the world is.
Nothing is actually good or perfect in itself.

An action you make today will be heavily praised by those around you or those you do them for..
Several years later after encountering much more prolific people who deliver such actions seamlessly and even more.
Your hitherto guaranteed "good deeds" and high praises will now be watered down relative to the new found favours.
We are all a product of our experiences at each point in time and it changes with each experience.

OBJ was heavily BASHED!!
both during his tenure and even much strongly in yar'aduas time.
Only NOI and probably Soludo, Akunyili, Sanusi, Jerry Gana and few others have probably individually remained fairly in the positives during and after their offices.

I will try to keep this short
Oil prices crashed around 1983 and remained low till 1999 when Obasanjo took over apart from a brief spike in 199! Because of the Gulf war

The sustained low oil prices meant Nigerians adjusted to less imports and relied more on home made stuff


Oil price reached a low of $10 in 1998
When Obasanjo took over in 1999 it was $18
Oil price rose after 1999 and never was as low as $18

By the time he left office in 2007 Oil prices had more than quadrupled to $85 and reached $100 by the end of the year

Imagine what it means for Oil prices to quadruple under your watch


Unfortunately that windfall was mismanaged again under poor management of Ngozi Okonjo Iweala
Refineries were not fixed
Power was not fixed
Roads not fixed
Where did all that money go
Okonjo Iweala handed billions to her masters in the West claiming they were paying off debt
Debt that was not properly verified
We went back to the same old habits of consumption now we are importing tens of billions from China because re reestablished those consumption habits

Why was the Naira stable under Abacha despite low oil prices
Simple
Little or no imports

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

Obj govt underwent massive loan pardon campaign from imf and paris club which they got and this had a surge in our foreign reserve and outlook. A lot of countries even gave Nigeria grants being a govt just coming out of military regime which is a norm for UN and world banks.

Under Obj corruption wasn’t loud because we were just being reintroduced to civilian govt having being under almost 2 decades of military govt that won’t allow civilians to loot but only them and they are minute in numbers unlike during Obj and post obj era. Obj even introduced corruption properly through passing bills at the National Assembly, fighting impeachments, vote buying and third term agenda.

When Obj came into power in 2009 he met crude oil at around $10 but within 1 year the price of crude was almost doubled and by 2003 crude oil was already around $30 and up to $40 still be increased fuel price …All these contributed to the massive foreign reserve increament because we don’t have many corrupt politicians like today. Dangote was just starting out, Glo man was just starting out etc the household names then were the likes of FAN( of fanyogo etc).

Minimum wage before obj was like #3500/#500 I think and he increased it to#5000/#7500 for fed employees.

All these contributed to it but we can shy away from the fact that obj had great economic teams.

Crude oil price raised up to $100 per barrel under Jonathan( Gej was one of the luckiest presidents) and we were supposed to have a lot of money to throw around but it went to some peoples pocket. But towards his departure, it declined to about $40. This is one of the reasons Buharis govt had financial difficulties coupled with Covid 19

All in all, every govt has things that give them advantages and what gives them shortfalls. But Nigerians will never know the true worth of any leader until they leave the govt.

NtoAkwaIbom:
wahala,

and Jonathan wan d run again...
person wey Sidon Wen oil sold for d highest...

that guy no try at all

To think some are clamouring for him to come back is a big shock to me.

SMH!

frankson1:
Did obi play dirty against Ngige, true or false??

What he posted about obi is silly but what you and your folks post about other politicians you hate is what

You all can't really stand what you throw at people.

That is not the point sir!
We deal with people regardless of tribe or anything else. Do you get?

At the first instance the post was not about Obi but somehow you manage to wire him into the post out of hatred.

Look at it very well. Ngige is his tribal man and he reserves the opinion why he felt or did what he did towards Ngige if it's true.

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

In as much as Baba had his own shortcomings, but he handed the country to experienced hands

And he allowed most of them to work,

We all remembered how Oshiomole was on his neck all tru his administration

And he brought many young blood into the system

But what we have today is leaders appointing their stooges into offices so as to shut opposition off

Even our Senate were more vibrant then than today, imagine what's going on in Rivers and the Lawmakers, plus the judiciary just fold arms dey look

Even the media are being gagged on their neck now

God help us sha

Paramount01:
But this obvious shows reserve dropped under Yardua

Yes I know! He did just two years.

chopnaira:
Very true. Unlike the agulu man.

Stop being a kid man

We are talking about Presidents here, leave obi out of it

Your lord Tinubu is doing so poorly at the moment, that should concern you more

Reference:
Certainly, because since independence Nigeria has not seen a better tomorrow. A country in constant decline as far as all the indices of life and qualitative living. Just check them out, poverty, security & crime, healthcare, education, justice, etc. Practically nothing is better today than it was ten years ago, twenty years ago, thirty years ago....

Today an inflation rate of 30 percent is seen as normal. Today you sell your car for more than it was bought after significant depreciation. Are these things not weird in a sane society.

That Nigeria has not seen a better tomorrow is not true, the military slowed us down as most of the development we see today would have happened in the 80s if we had no military rule. Telecoms would have been in earlier which would have hasten our drive towards science and technology aided by the private sector. The military made Nigerians to depend too much on govt for most things and destroyed our sense of dignity, self reliance and self worth.

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 of 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

So projects were not done before this government?

Buhari did the Lagos-Ibadan rail project, second Niger bridge, even the completion fo the Abuja-kaduna rail all while paying subsidy and padding the naira as una talk

Still gave the country Npower, and some other social funds

It seems we even underrated buhari Sha

Cos with what bulaba is doing now, light at the end of the funnel dey blurry ooo

Judolisco:
Many of Nigeria's debt were forgiven... So he had time to save

Obj paid over 12 billion dollars debt.

Please note that no government had ever done that

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/

They need to justify their pay now, I used to not believe the fact that they are being paid for this their comments

But recent happenings of defending what's not defendable actually makes me began to think maybe they are actually paying these guys to do all of these sha

Britishpea:
Obj govt underwent massive loan pardon campaign from imf and paris club which they got and this had a surge in our foreign reserve and outlook. A lot of countries even gave Nigeria grants being a govt just coming out of military regime which is a norm for UN and world banks.

Under Obj corruption wasn’t loud because we were under the military govt that won’t allow civilians to loot but only them and they are minute in numbers unlike during Obj and post obj era. Obj even introduced corruption properly through passing bills at the National Assembly, fighting impeachments, vote buying and third term agenda.

When Obj came into power in 2009 he met crude oil at around $10 but within 1 year the price of crude was almost doubled and by 2003 crude oil was already around $30 and up to $40 still be increased fuel price …All these contributed to the massive foreign reserve increament because we don’t have many corrupt politicians like today. Dangote was just starting out, Glo man was just starting out etc the household names then were the likes of FAN( of fanyogo etc).

Minimum wage before obj was like #3500/#500 I think and he increased it to#5000/#7500 for fed employees.

All these contributed to it but we can shy away from the fact that obj had great economic teams.

Crude oil price raised up to $100 per barrel under Jonathan( Gej was one of the luckiest presidents) and we were supposed to have a lot of money to throw around but it went to some peoples pocket. But towards his departure, it declined to about $40. This is one of the reasons Buharis govt had financial difficulties coupled with Covid 19

All in all, every govt has things that give them advantages and what gives them shortfalls. But Nigerians will never know the true worth of any leader until they leave the govt.

Debt relief is what made obj regime looks good. I was in university all through obj first tenure and I can tell you life was hard as hell with incessant strikes and all sorts. The same thing Nigerians complain about today was still the same things being said today; bad roads, poor healthcare systems and poverty. The so called economic team obj was just rhetorics because of the nice cvs of the persons in the govt. That Nigerians were richer or fared better under obj is a mirage

Kingosytex:
OBJ's creativity and excellence was marred by his subtle quest to amend the constitution to make him run for third term.
OBJ is easily the best president Nigeria ever had, the achievements are so visible.

With the nonsense we later had, I think the constitution should have been amended for him to do a third term. Dude was really good with governance!!

Lukuluku69:
1. OBJ refused to share the Excess of Crude sales above the Budget price projection. He set up the Excess Crude Account.

2. Most of the Nations Loan Obligations were nearing the end and as such got many Loan Write Offs.

3. There were actually High Crude Price during his Tenure (On the Average).

On the average as how mr man? U mean highest like 8$, 20$ or 40$?
Remember that he paid over 12 billion debt. Who has ever done that?

helinues:
Why have you people suddenly forgotten about GEJ that you lots claimed was the best then but he's not part of this discussion.

Had the FX depleted, the story would have been different. Just for you people to appreciate the efforts of this government, una go bring OBJ's regime while omitting Yaradua and GEJ

Nigerians now know better, they know whose story to listen to

Nigeria faired slot better under Jonathan than thiefnubuu! Argue with Nigerians!

famouscargo4u:
Combination of Charles Soludo and Ngozi Iweala made it possible. Moreover, there was boom in crude oil price.

There was no boom! You guys are liars!!

Oya show us the evidence there was boom in oil prices!

Kokodeni:
Plus debt relief

Remember he paid 12.5 billion dollars before they forgave us the debt

They prefer to build roads under this government.

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

It's the federal government policies, actions and inaction and business activities that grows these reserves.

And similarly with a not too woke economy ooo

Obasanjo practically headed an entirely manual economy

Now with the advent of tech, we should be blasting 100s of millions sef

But our president friends still want us to believe this is the best for our country

aribisala0:
Obasanjo did not grow it

Obasanjo was never in charge of the CBN
You are making my point
This subject is something you don't understand
It is beyond your knowledge and everything you say reveals ignorance
If you know what foreign reserves actually are you won't be asking this question

What is the purpose of foreign reserves

What are they for?

Do you know?

But Tinubu grew his own according to his supporters right??🤣

Mr peter obi from whatever now to something positively unbelievable in the future

Slawoomir:
I don't agree with no 3.

Compared to Yar'Adua, Jonathan, Buhari, and Tinubu till date, OBJ had the lowest oil prices on average.

This claim is backed by data.

Ok.

But then, he initiated the Sales of many Govt Assets through the BPE. He was the one that Licensed the Telcos. He got loads of Cash from them.