₦airaland Forum

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

mekonglobal:
This one got me! I'm an Apc fan but i neva envisage it to be dis bad...anyways we still pray n hope for d best. And for d record i am not in any bondage, cos my bible tells me 'that if the son shall set me free..............

InLoveWithGod:
It is wickedness for a man to convince a woman to leave her husband to come and marry him because her husband could not impregnate her, and after over 8months of getting the woman you are still blaming the former husband for your own inability to impregnate her.

tuale4u:
Oil price is 28 dollar today. It was 100 dollar under GEJ.

GEJ and oil price is to blame.

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

Tokt:
Till date, they make reference to the rot Bush and his cohorts did to the economy.

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

PassingShot:
It's unfortunate that we just have to look back given the present situation of our economy. The situation has been brought about by GEJ's failure to save during windfall from oil sale of average of $100 a barrel. He instead reduced foreign account fromm $44bn in 2011 to $29bn in 2015. The question is, what did he do with the $15bn difference and the excess dollars earned in that period?

Can any supporter of GEJ sincerely answer that what he 'achieved' commensurates with what we earned?

The hardship of today is a result of poor decisions of years past.

I don't envy PMB and his team at all. They inherited a hemorrhaging economy at a time oil price is crashing on daily basis.

lomprico:
After fixing it abi? Why dont the clueless nigerian govt profer solution to the mess pdp made and stop pointing fingers. Bros one dollars is 300 naira today.

momentoftruth:
in other words, you can't blame them for sharing the money?
hahaha see defense.


from your statement, the account would have still been looted, meaning administrations before Gej, looted them hahaha see indictment


remember most of these people from 1999-2011 are now the ones calling shots in APC




may you receive sense, may the spell casted on you end now,


may your rate for Gej subside …


i pray for the day APC miscreants will be delivered.

fitzmayowa:
APC's Modus Operandi


1. When you fail to fulfill your campaign promises blame GEJ/PDP

2. When you are asked for accountability blame GEJ/PDP

3. After running government for 8 months and people are still not feeling the "CHANGE" blame GEJ/PDP

4. When you make bad economic decisions blame GEJ/PDP

5. When you take forever to appoint ministers blame GEJ/PDP

6. When you can't tell nigerians that you won't be able to fulfill some of the bogus promises blame GEJ/PDP

7. When you are in doubt blame GEJ/PDP

8. When you junketeer around the world with no tangible result blame GEJ/PDP

I wonder when APC will stop this blame game and face governance squarely, APC led government has turned democracy to "blamemocracy"


Nigerians elected them to solve the problem of the country and not start throwing blames...SMH

chronique:
Sometimes when I listen to you talk, I wonder how someone can be so ignorant about issues,and still go out to spew gibberish. It's so obvious you do not even know what you're talking about. If your foreIgn reserves has been depleted from $44bn in 2011 to $29bn in 2015 and the local currency has been on the steady slide downwards,what do you expect? You're asking about the difference;is it that you do not know that as the local currency weakens,it takes a toll on the reserves? How much was the Naira to a dollar in 2011 and how much was it as at Dec 2015? How much is it as at today? Help yourself out with this article... You don't even know the difference between the foreign reserves and the excess crude account(wwhich has been replaced with the sovereign wealth fund).


http://sweetcrudereports.com/2016/01/17/nigeria-foreign-reserves-drop-by-396m-in-two-weeks/

CyberWolf:
When GEJ was busy saving for the rainy day and the governors by Amechi was busy shouting share the money share the money, what do you expect? Let APC go and die..

Tokt:
Nop, since day 1 when they took power till date so u lied by saying after fixing it. Yes, it is because the foreign exchange needed to keep it strong has been looted by Jonah-daft and his crooks. Foreign exchange isnt gotten by fiat neither is it gotten by wishing it. we are currently living the consequences of past decisions of yesterday.

EternalTruths:
Is oil the only thing we can sell to get dollars

Tell your Daura Cattleman to introduced True Federalism backed by the constitution in order to encourage states to exploit their resources and exchange it for dollars in order to increase inflow of oil

Otuosowo:
:oWe are in for a long ride, change is here to stay whether positively or negatively. But for how long will APC keep blaming a government that was voted out 8 months ago. Time will tell.

yommys01:
What policy actually affected the naira? Was it not on a downward loop before now?

lomprico:
Am not just talking about FE, yes pdp govt looted a lot,

Good

yes they messed things up.

Excellent

What we need now is solutions to all these problems and yes they cant resolve all at once or quickly but let us see strives,

I agree with u however keep reminding ursef the colored

moves that they are actually changing things for the better

Actually, am seeing moves already in contrast to the past terrible govt. The conception of the proposed budget though not perfect, TSA, less dependency on crude price, corruption fight and above all being able to trust General Buhari with our collective wealth as against jonah-daft etc.

but all we see them do is claim responsibility for the good achievements of the last administration and blame gej/pdp for the wrong policies they brought.

U are wrong. even having told us the genesis of our problems, they still remind us that they are doing everything possible to rescue us from such mess. This has constantly been the core message.

lomprico:
On the coloured, there r no strives only apportioning blames to Gej.

There was an economic boom till 1977, Shagari squandered the proceeds which fueled a coup that dethroned him, who is he supposed to complain to?

You started very well in your comments but as expected of many Nigerian youths, you introduced traders market gossip in your submission.
The ECA was created by the OBJ's administration which is a form of savings from the excess crude account, though the account was in contravention of the constitution, the FG held on to the funds in good faith hence no complain from the governors who by constitutional provision are supposed to be beneficiaries of the funds as well.

Came Jonathan's administration, Okonjo iweala and Jonathan in cohort were withdrawing from the account illegally, a breach of good faith that has upheld its existence in the face of illegality.
The latest discovery was a 1.07T illegal withdrawal that financed Jonathan's 2011 elections and fraudulent subsidy claims by his cronies, on that premise, the governors forum opted to remind the FG the true status of the account by declaring it illegal in court.

That is not where the story ends, after the money was shared, the FG's share was still substantial hence the SWF was created from that amount. Presently, Kolade who was appointed as the manager of the funds resigned saying that he has never seen a kobo since his committee was inaugurated.

So If you had sense these are the questions to ask;

Why did Amaechi demand the sharing of the ECA? If he didn't, what fate will befall it in the hands of okonjo and jonathan?
After the Sharing, what happened to the Fg's share of the ECA?

You may tame your ignorance here

$29b in a $500b economy with crude sales of over $115 per barrel for 3years? you are a fvcktard!!