₦airaland Forum

Cushion the economy indeed. Àwon akótilétà

Nigerians live in a world of propaganda, they never take time to research.

This is another lame way of responding to germane issues. Is this administration telling us that oil price has being falling since 5 years ago when this administration started ? Wao! So ministry of finalise telling us that all those money and others that have been made has been invested back to the economy? Of what effect is this to the masses? So how much do we have in the sovereign account being quoted by the ministry? Well, this administration has never provided any useful answer for any serious issues ever raised.
Let those that can think properly lay aside there sentiments and do the needful on St valentine's day.

Can they please tell us what development they did to Nigerian economy with the funds?

If they can show us the infrastructure and amenities they spent the money on , then they are free from all the accusations if not, all we are saying and need is CHANGE

#team#GMB/PYO2015#

This clueless govt. think we have no idea on how to run foreign account or Foreign currency account. Ngozi Okonjor Iwala is over rated. she corrupt and causing Nigeria's economy woes. Liars.

Whats concerns oil price with cash already deposited and credited in a foreign currency account perhaps in a foreign country?? The price of oil or exchange rate can only affect the cash in Naira.

Meanwhile, price of fuel has been reduced everywhere in the the world except Nigeria. yeye govt.

Ok

Ngo-baby, the governors said, each time they come for National executive meeting, the ECA is depleted, that's why they opted for sharing the excess crude account- rubbish language, what's excess when Nigerians are suffering?

Cliff notes:

"We didn't squander it! We had many good reasons for spending it all."

SaiBuharii:
They have started giving us endless lies to cover up initial lies. A president is working against you, another one is contesting against you. If they can even tell us what they squandered the reserves on. We will not complain.

Part of the 20b donated is a percentage of our reserves.

We are tayad. We need change.

Jonathan has failed us.

#GMB2015 #SAIBuhari FEBUHARI

vote for gej or die quick

The comments on this page shows that so many Nigerians don't understand how a country is been managed.

PassingShot:
Who did then?

The fact are there for all to see:

1. Crude oil sold for far more than what it did under OBJ and Yar'Adua

2. We earned more under GEJ than OBJ and Yar'Adua

3. GEJ has achieved little compared to what has been spent or claimed to have been spent

4. Add the fact that GEJ met a healthy reserve, we should be in the region of hundred of billion dollars even with the little achievement.

So who is deceiving who?

So we should be piling up cash in our reserves, while we are in dire need of infrastructure and development?
Your state probably has an annual budget of over 100 billion naira which is a hundred times more than what was obtainable during the Obasanjo era. You should be asking your state governor and local government chairmen what they're doing with their allocated funds.

WHAT A STORY

Jonathan met with $60B and $30B ECA when he succeeded Yar'dua when oil was at its peak, right. From 2010 to 2014 oil hover around $105 - $115, so why the depletion of all the reserves?

Did Jonathan build another Abuja or 3rd Mainland bridge?

The foreign loan jumped from $3B to $7B and the reserves are low such that your government is introducing SAP. Story for the gods.

Please, Mr. President, you've misplaced your priority and squandered our resources. You may be a good person, but you're easily decieved by all those around you; you are never on top of events and in command of the resources and the people.

This explanation is straight to the point. if you are an economist with unbiased judgement, its quite understandable

nicflame:
http://thenationonlineng.net/new/fed-govt-didnt-squander-external-reserve/

May the Good God Almighty in Heaven, punish this tyrant leaders with what they all deserves even with there unborn generations with what they can't bear in manifolds for this.

vicadex07:
They didn't squander it now, they only kept it in their own personal accounts for Nigerians until we need them. The same way when we are kids and visitors gives us money and your parents collect it from you with the lie that they are going to save it for you till it becomes plenty.

Meanwhile

ONE HONEST LEADER.

How can a former Head of State who earns 300 million Naira per annum, say he has no N27 Million to buy presidential nomination form? A very pertinent question, I must say. And as someone who believes in knowing the truth before acting, I took my enquiry to the Nigerian ministry of finance and this was the response I got: Yes, it is true, All heads of states collect on the average 23 million Naira every month, apart from General Muhammadu Buhari. He (General Buhari) objected to collecting most of the allowances,insisting they were bogus and therefore amount to corruption. He personally wrote a letter to the ministry to that effect. As a result he collected only N2.3M a month equivalent of 10% of what he is entitled, which he believes is his legitimate earnings!! Imagine how honest this man is!! May God give us the wisdom to accept reality. Please let's vote wisely, we need a leader that can fight corruption. Buhari is that leader.

Investigation also has it on authority that he is the only one amongst past presidents who returns his car after a 4 year cycle for a replacement as required. Others get the new and keep the old. Share with Nigerians.

This is a campaign material please pass on and share within your circle of influence if you align with operation CHANGE....#VoteCHANGE....otherwise, feel free to delete the message.

The fact that he collects anything at all is wrong.

the reserve squandered itself,story for children

Malaysia’s Foreign Reserves Fall 14 Percent to Lowest Since 2011

Anyone notice anything similar about the date 2011? Moving on, see if you also notice anything similar about the reason why


Malaysia’s foreign-exchange reserves dropped to the lowest level since March 2011, a sign the central bank may have intervened to stem a slide in Southeast Asia’s worst-performing currency.

The holdings fell 14 percent to $116 billion as of end-December from a year earlier, Bank Negara Malaysia data showed today. They declined 4 percent from the previous fortnight. The ringgit has weakened 10 percent since June and dropped to a five-year low of 3.5862 a dollar yesterday. It closed 0.4 percent higher at 3.5665 in Kuala Lumpur today.

A slide in global crude prices has put pressure on the ringgit, posing a revenue risk for oil-exporting Malaysia, which is seeking to lower the fiscal deficit to 3 percent of gross domestic product in 2015 from 3.5 percent.....

http://www.bloomberg.com/news/2015-01-08/malaysia-s-foreign-reserves-fall-14-percent-to-lowest-since-2011.html


Nigerians want a strong Naira and an untouched foreign reserve... we should all keep dreaming. The only reason reserves are going up again is because the naira has been devalued, which is the right thing to do at times like this: devalue your currency, pay off domestic debt, and continue capital projects.

Buhari is yet to be sworn in and they have started looking for cover. Meanwhile,

“Nigeria’s reserves during the period were not squandered but used appropriately in the course of normal transactions required for the development of the Nigerian economy.”

Which economy was the monies used for?

Dear FG, we are saying ththat the reserve was squandered, you are saying that it wasn't squandered but used appropriately in the course of normal transactions required for the development of the Nigerian economy.”, please where is the result that we are not seeing? Aren't we saying the same thing?


Two boys saw a Caucasian man...
Boy 1: See that white man
Boy 2: No be white man be that, that man na oyinbo

SeverusSnape:
In as much as I don't believe this(cause I know there is corruption in this government), The OBJ laying the accusation is also not a saint; non of them are. Did he not embezzle public funds himself?... Like I use to say, pot calling kettle black

What has POT and KETTLE got to do with this ?

OBJ says I left X amount in the account without debt.

Now there is debt and the X amount reduced by Y value.

Instead of explaining, they are beating about the bush.

The current amount in the external reserve is not stated in this article.

nicflame:
http://thenationonlineng.net/new/fed-govt-didnt-squander-external-reserve/

Mr. Jonah, how much have you saved in 6 years? Please tell us.

J12:
So we should be piling up cash in our reserves, while we are in dire need of infrastructure and development?
Your state probably has an annual budget of over 100 billion naira which is a hundred times more than what was obtainable during the Obasanjo era. You should be asking your state governor and local government chairmen what they're doing with their allocated funds.

I said, compared to his small achievement he has aided the looting of our reserves. Think before replying me please.

Measure his purported achievements with what his administration has earned. It's so simple.

“Nigeria’s reserves during the period were not squandered but used appropriately in the course of normal transactions [size=14pt] required for the development of the Nigerian economy [/size].”

On the Excess Crude savings, the ministry said it is a component of the reserves, which “was largely used to cushion the economy at the height of the global financial crisis in 2008-2009. As a result, Nigeria was one of the few countries in the world that did not seek assistance from international financial institutions at that time.

REALLYYYYY !!!!!!!!!!!!!!


TEAM CLUELESS, YOU CAN LIE OOOOOOOOOOOOOOOO

I need my lunch. Will all these story help me get it?

story story

PassingShot:
I said, compared to his small achievement he has aided the looting of our reserves. Think before replying me please.

Measure his purported achievements with what his administration has earned. It's so simple.

Think before you talk. The "loot" was shared between your state governor and local government chairman. You are indirectly in the looting yourself. MUmu

SaiBuharii:
They have started giving us endless lies to cover up initial lies. A president is working against you, another one is contesting against you. If they can even tell us what they squandered the reserves on. We will not complain.

Part of the 20b donated is a percentage of our reserves.

We are tayad. We need change.

Jonathan has failed us.

#GMB2015 #SAIBuhari FEBUHARI

APC and OBJ should kindly present the facts to the public if they are not to be declared as desperate liars going about making bogus promises all in the bid to win an election. Very soon, we will start prosecuting people for peddling lies.

Oh my God! Thieves justifying their looting spree. This can happen only in Nigeria. I want a change even if the next person is termed a "devil"

Smh... the way some Nigerians reason ehn, even those that don't understand what external reserve mean will be posting trash...


some people are what we call copy copy...


OBJ to me is a big disgrace to this country, just because the President is not playing to his tune doesn't mean he can say trash about his administration..
Even if he want to act as a watch dog to his administration, he should do it objectively and stop being s1lly..

"vicissitudes", abeg which dog name be that?

Bandits and thieves raping Nigeria since 1914

Good, this explanation is straight to the point.