Obiagelli:
With the current fall in oil prices, in submission i have decided to show how better Gej and Okonjo Iweala would have done better than bubu the dullard.
I will be highlighting the measures taken by the past administration in similar but better circumstance APRIL - MAY 2015

FG borrows N473bn to pay salaries – Okonjo-Iweala

“We have serious challenges,”
Finance Minister Ngozi Okonjo-Iweala
said in an emailed statement.
“Things have been tough since the
beginning of the year and they are
likely to remain so till the end of the
year.”

www.pmnewsnigeria.com/2015/05/06/fg-borrows-n473bn-to-pay-salaries-okonjo-iweala/

Today we are not borrowing to pay salaries


Economic Crunch: Nigeria’s GDP Declined By 2.08% In Q1 2015

Data released by the National
Bureau of Statistics has shown
that the growth of the
country’s Gross Domestic
Product slowed down by about
2% in the first quarter of 2015,
with a fall from 5.94 per cent
at the end of the fourth
quarter of last year to 3.86 per
cent.

bizwatchnigeria.ng/economic-crunch-nigerias-gdp-declined-2-08-q1-2015/

HuH? this has got lai mohammed written all over it.

danmasani101:
Its better than you, who is collecting peanuts for each post your make on the social media.

The current president benefited from it by collecting 2 bulletproof SUV.

anonimi:


......and $300,000 the zombies would like us to forget but we won't.



www.nairaland.com/attachments/3206894_tmp30566fbimg1450529509545914443311_jpeg4c3407a2efe4a93f64218f856abf9b9a



www.nairaland.com/attachments/3191654_1239200310207040029852596885005702579760607n_jpeg655e00798ae6d4674d9087bb4277b198

Bizibi:
The minister of finance won't last in that seat.......

Obiagelli:
With the current fall in oil prices, in submission i have decided to show how better Gej and Okonjo Iweala would have done better than bubu the dullard.
I will be highlighting the measures taken by the past administration in similar but better circumstance APRIL - MAY 2015

FG borrows N473bn to pay salaries – Okonjo-Iweala

“We have serious challenges,”
Finance Minister Ngozi Okonjo-Iweala
said in an emailed statement.
“Things have been tough since the
beginning of the year and they are
likely to remain so till the end of the
year.”

www.pmnewsnigeria.com/2015/05/06/fg-borrows-n473bn-to-pay-salaries-okonjo-iweala/

Today we are not borrowing to pay salaries


Economic Crunch: Nigeria’s GDP Declined By 2.08% In Q1 2015

Data released by the National
Bureau of Statistics has shown
that the growth of the
country’s Gross Domestic
Product slowed down by about
2% in the first quarter of 2015,
with a fall from 5.94 per cent
at the end of the fourth
quarter of last year to 3.86 per
cent.

bizwatchnigeria.ng/economic-crunch-nigerias-gdp-declined-2-08-q1-2015/

HuH? this has got lai mohammed written all over it.

Obiagelli:

Since you live there you can tell us how many times you have died.

thenationonlineng.net/un-hails-nigeria-over-fight-against-boko-haram/

oyinkinola:

why?

dechriscool:
Half knowledge is more dangerous than illiteracy.Apc apologists always display their ignorance in a bit to show how enlightened they are.A bad work man always quarrel with his tools.
Buhari economy policies is what is killing Nigeria not the activities of the past administration.Gej administration had the best season technocrats and administrators.Their innovations and activities,the present government is building on and enjoying.They have not added anything to it.
Noi and her team always have austerity measures to tackle any prevailing economic problems in the country.During the fuel subsidy saga.There was palliative measures to cushion the effect on the transport sectors.
Before banned on any products importation.Those goods must be locally produced and,self sufficient.But in bubu case just ban without thinking through the repercussions.The multipliers effect is the rise in dollar.

chinchum:
He wouldnt have, GEJ devalued Naira twice in 2015. From 155 to 168, and from 168- 197, as at then the economic crunch was not this hard, we had a better buffer with reserves, and even oil price was in the neighbourhood of 50usd/barrel., the biggest fall in reserves was during those period.

dechriscool:
Half knowledge is more dangerous than illiteracy.Apc apologists always display their ignorance in a bit to show how enlightened they are.A bad work man always quarrel with his tools.
Buhari economy policies is what is killing Nigeria not the activities of the past administration.Gej administration had the best season technocrats and administrators.Their innovations and activities,the present government is building on and enjoying.They have not added anything to it.
Noi and her team always have austerity measures to tackle any prevailing economic problems in the country.During the fuel subsidy saga.There was palliative measures to cushion the effect on the transport sectors.
Before banned on any products importation.Those goods must be locally produced and,self sufficient.But in bubu case just ban without thinking through the repercussions.The multipliers effect is the rise in dollar.

Bizibi:
she is not the type that can boldly make right decisions.......I was expecting them to bring in mr soludo

Obiagelli:

Make no mistake about it, we will continue to blame them, nobody has forgiven Ibb for SAP till today. You can't wish it away.

Progressive01:
Worst part of all this is their morbid hypocrisy. They don't want us to blame Jonathan and PDP for anything yet want us to give credit to them for every positive news that comes out of the present government.

They can only keep wishing that happens, but hell it won't!

arewafederation:


Mention one "austerity" measure taken by NOI to tackle the then prevailing economic problem?

dechriscool:
Half knowledge is more dangerous than illiteracy.Apc apologists always display their ignorance in a bit to show how enlightened they are.A bad work man always quarrel with his tools.
Buhari economy policies is what is killing Nigeria not the activities of the past administration.Gej administration had the best season technocrats and administrators.Their innovations and activities,the present government is building on and enjoying.They have not added anything to it.
Noi and her team always have austerity measures to tackle any prevailing economic problems in the country.During the fuel subsidy saga.There was palliative measures to cushion the effect on the transport sectors.
Before banned on any products importation.Those goods must be locally produced and,self sufficient.But in bubu case just ban without thinking through the repercussions.The multipliers effect is the rise in dollar.

anonimi:


Eight of those years had the APCshit navigator in charge, not so

Gabbysky:
Honestly, I like the sufferings Nigerians are facing today... Next time they will crucify anyone that mentions apc to them.

kuuljay:
Which Nigerians Do that election a thousand times again we will vote for bubu,if the Jonathan was still on the reins this country would finished by now,the people shouting the most are election loosers like you,none of us who voted for change has regretted because we knew the depth of Roth and would not xpect a miracle fix keep if you like repackage your hero and bring him back in 2019 he will still loose against Buhari,period!!!

chukwudi44:

Madam sofly sofly for your lies!! The naira never went above 220 throughout GEJ's regime

obailala:
There is no doubt that something is not being done right about the economy by the current administration, but considering the fact that 95% of the vociferous attackers of Buhari today are individuals who are of the opinion that GEJ would have done better under these sorry circumstances, we cannot help but compare the performance of both men.

First of all, it is plain ignorance for anyone to compare an oil boom Jonathan of 2013 to an oil glut Buhari of 2015/2016. The closest we can get to a fair comparison is comparing the Jonathan of late 2014 (when oil crash started) till May 2015 (when GEJ handed over).

Now just a short story of what happened when the oil prices began to crash, just between October 2014 and May 2015 (GEJ handover):

(1) The Naira fell from N166/167 to N220 to $1, meanwhile oil still sold at about $65/barrel as at May 2015.
http://abokifx.com/previous-rates-2/

(2) The nation's foreign reserves dropped from ~$38.5bn to $28.7billion, that's a drop of about $10billion in 7 months, with oil still selling at about $65/barrel as at May 2015.
http://www.cenbank.org/intops/Reserve.asp

(3) Nigeria's GDP growth rate which was hitherto maintained at an average of 6-7% suddenly dropped to its lowest since 1999 of 2.3%.
http://www.tradingeconomics.com/nigeria/gdp-growth-annual

(4) Due to a severe cash crunch occasioned by fall in oil prices, the Nigerian government had to borrow about $2.4billion dollars early in 2015 to pay salaries. The FG could not also pay accumulated arrears of fuel subsidy since August 2014 to petroleum importers (this led to the fuel scarcity in May 2015 just before the handover and Lai Mohammed also blamed this owed fuel subsidy as the reason behind the fuel scarcity late last year)
http://www.vanguardngr.com/2015/05/nigeria-borrows-to-pay-salaries-with-cash-crunch-worsening/
http://www.channelstv.com/2015/12/21/lai-mohammed-blames-fuel-crisis-on-past-administration/

All of the above happened at a time when oil still sold above $65/barrel; today oil sells for about $30/barrel

Now I do not want to imagine the kind of economic humanitarian crisis that would have enveloped Nigeria had GEJ continued in his usual manner of dipping his hands into the forex reserves; only God saved us as a nation else we would have been standing on long queues by now to receive one cup of rice daily from charities just like the venezuelan situation.

kuuljay:
Which Nigerians Do that election a thousand times again we will vote for bubu,if the Jonathan was still on the reins this country would finished by now,the people shouting the most are election loosers like you,none of us who voted for change has regretted because we knew the depth of Roth and would not xpect a miracle fix keep if you like repackage your hero and bring him back in 2019 he will still loose against Buhari,period!!!

DelGardo:


I will encourage resident wailers to make up their minds on their line of attack. One minute it is "Buhari has no economic policy" the next second it becomes "his bad economic policies are killing the economy".

Please settle down so that we can benefit from an enriched quality of national discourse.

The OP has done a great job by placing the two administrations side-by-side, can we just have an intellectual outing? Not some Mountain-of-fire-like prayer session (I mean how can God run somebody's life like Buhari is running a country? Are oil prices falling in heaven? The last time there was a battle in heaven it had nothing to do with Boko Haram, but even to that prayer I say Amen) and wild musings.

Progressive01:
Exactly what I wanted to ask him when I saw the post, but on a second thought, judging from his poor grasp of english, I imagined he doesn't even know the meaning of the word "austerity".

And the boy go go sleep thinking "damn, I just made one badt point on the forum".

danmasani101:


Your hypocrisy stinks......

May Allah lead your life the way the current president has been leading Nigeria & may your children tell lies like Lai Mohammed

We in the north are tired of this current government, its no news you can visit to confirm.... I learnt you are from the SW.

Bizibi:
oh,she is from sw,not surprised.......

anonimi:


......and $300,000 the zombies would like us to forget but we won't.



www.nairaland.com/attachments/3206894_tmp30566fbimg1450529509545914443311_jpeg4c3407a2efe4a93f64218f856abf9b9a



www.nairaland.com/attachments/3191654_1239200310207040029852596885005702579760607n_jpeg655e00798ae6d4674d9087bb4277b198