₦airaland Forum

brain54:
Why did you single out Jonah...?

You can't use only foreign reserve to pass your judgement. The drop during Jonah's time was due to oil price volatility and foreign exchange interventions.

We have had many destroyers the only people excepted ( I personally) are obasanjo and probably yaradua because his tenure was too short lived to pass a judgement.


The rest are a bunch of scallies and that's not judging by foreign reserves alone but how they were generally able to manage the economy!

Amtasiu:
Nigeria's external reserves since 1999 by different administrations

🟢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 Jan 2026 — $46.012 billion ( the highest in history )

CBN/Statisense
(CBN)

Brendaniel:
When I tell Tinubu supporters that though OBJ jad his faults he is by far better than Tinubu and Tinubu has no excuse to blame previous governments for his failure.

How do you measure performance, it is based on what you met and what you left, just take a look at the chart up there for OBJ, imagine if it was Tinubu who met such in 1999 when he became president, just think about the manner of excuses he would have been giving.


And still OBJ paid subsidy throughout his tenure and cleared Nigeria's debts of about 38 billion dollars, and still opened an excess crude oil account and saved over 30 billion dollars within a space of 8 years which was separate from external reserve he grew from 4 billion dollars to 43 billion dollars...

Now I ask them again, What exactly is Tinubu"s excuse? The bad part is a lot of his people hate OBJ and like Tinubu and will tell you that Tinubu is better, why? Tribalism, OBJ is a nationalist, Tinubu is an ethnic supremacist leader

grandstar:
Please note that what was published there was gross foreign reserves and not net foreign reserves.

The net foreign reserves are the actual amount the central bank actually has access to. The other might be encumbered.

Tinubu met $3.99bn in net foreign reserves. Worse, the central bank was owing buyers of forex $7bn. It was a full blown disaster Buhari left behind. $3.99bn could not even cover 1 month worth of imports. The minimum should be 4 months. The severe forex scarcity was what chased ot pursued GSK and a few others out of Nigeria.

Based on this, Tinubu inherited not just the least foreign reserves in real terms but the worst economy ever.

Despite this, when it comes to financial discipline, OBJ deserves top marks. Tinubu is a bit reckless.

However, Tinubu gets the highest marks when it comes to economic policies. If many of the economic policies had been implemented during OBJ's first term in office, the GDP would probably the over $1 trillion today.

Ending the fiscally draining and economic regressive oil subsidy, the floating of the Naira and the present tax reforms are light years ahead of others. The economy is finally moving sway from it's over reliance on crude oil.

Even though Obj isn't a fan of Tinubu, he has been rather quiet regarding his governance. That alone speaks volumes. Obj is known for constructive criticism

Slippy:
Whole point of this thread is for propaganda

Can you do a chart for cost of living from 1999 (Obasanjo) till now?!

This administration is more focused on metrics that has no effect on the common man

Will this data feed the people you have impoverished over the last 11 years?

.
Cry well well

Amtasiu:
Nigeria's external reserves since 1999 by different administrations

🟢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 Jan 2026 — $46.012 billion ( the highest in history )

CBN/Statisense
(CBN)

Brendaniel:
Provide verifiable evidence to your write up or pack all you wrote and thrash it in the bin...

emiye:
46 billion usd is not the highest in history, it got in to the 60 billion usd + in mid to late 2000's

Brendaniel:
When I tell Tinubu supporters that though OBJ had his faults he is by far better than Tinubu and Tinubu has no excuse to blame previous governments for his failure.

How do you measure performance, it is based on what you met and what you left, just take a look at the chart up there for OBJ, imagine if it was Tinubu who met such in 1999 when he became president, just think about the manner of excuses he would have been giving.


And still OBJ paid subsidy throughout his tenure and cleared Nigeria's debts of about 38 billion dollars, and still opened an excess crude oil account and saved over 30 billion dollars within a space of 8 years which was separate from external reserve he grew from 4 billion dollars to 43 billion dollars...

Now I ask them again, What exactly is Tinubu"s excuse? The bad part is a lot of his people hate OBJ and like Tinubu and will tell you that Tinubu is better, why? Tribalism, OBJ is a nationalist, Tinubu is an ethnic supremacist leader

RichBoy247:
.
Cry well well

benardtotti:
Where have you ever heard tinubu give excuses ? Same you forgot tinubu was a governor under same government as obj and met a dilapidated lagos with igr less than 700m and grew it times 2 .

He is replicating same savings and growth model as president, in just 2 years he has done what buhari achieved in 8 years with external reserves, what do you think will be the final reserves if he has done this amount in just 2 years ?

grandstar:
Do a search using Google Ai mode with these keywords: "what was the true state of Nigeria's foreign reserves when Tinubu assumed office in May 2023?"

Amtasiu:
Nigeria's external reserves since 1999 by different administrations

🟢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 Jan 2026 — $46.012 billion ( the highest in history )

CBN/Statisense
(CBN)

Kukutente23:
GEJ paid the hugest subsidy
Tinubu paid next to nothing
You have to factor that in when making comparisons

Love800:
Someone should enlighten me pls.
What's the meaning of external reserve?

bewla:
So jona that did 7and half years is not bad
but Uncle Tinubu
thats not up to 4 years is bad

See bad belle oooooo

Nothing u do will make your hater like a you

I swear nothing I no go see for this E brother hand

Brendaniel:
Why not do it and show me?

I do mine to present as facts when I make a claim....

So please do yours for your claim...

davodyguy:
Under Jonathan, oil price went to $140/Barrel.

So they should have saved more if he was prudent.

Under Buhari down to Tinubu, oil price is yet to clock $100

That's 8 years Buhari plus 3 years Tinubu, oil yet to reach $100

grandstar:
Okay.

OgaSeun:
Ask AI

Brendaniel:
So you want to focus on net reserve, what is the total net reserve as at today, please verifiable data only...

Brendaniel:
You just said the economy was in limbo, explain to me hos that became a clean slate?

What exactly was given to OBJ that Tinubu does not have now that made it a clean slate, please list them out, you can't call something a clean slate without explaining what made it clean.

Image123:
Highest in history, Jagaban for a reason. GEJ dropped it like soap, unforgivable if not for God.

johnmartus:
Jonathan administration really destroyed Nigeria.

Love800:
Jonathan was the must dumbest president since 1999.

He lacked ideas. Was very jittery.

commoditiesnig:
I tell you.