oduastates:
Absolute nonsense..

obj regime.......

Oil production - 2 million barrels a day
Population - 120 million
Average Price / barrel - over $35


A decade later.....
Same thing except
Population is larger, greedier and less educated.
Needs are greater.
The politicians, more corrupt.
The country, more dysfunctional.
More rent seeking "businessmen".
A bloated and more incompetent civil service.

Nigeria is a broken country. A country whose revenues are less than they were a decade ago.Adjusted for inflation, even lesser.
The country is overdue for bankruptcy.
Will clowns allow it or get out to protest for renewal?

What can be done
1 the National assembly has to be cut down to size.
2 Government parastatals workers(NUPENG) earning more than their equivalent abroad have to be cut down
3 The universities must be made self funding and Government scholarship given for science and technology courses only. Federal government colleges should be handed over to states.
4 shutdown unviable airports or handover airports to states. privatised viable airports
5 To reduce imported fuel consumption, cities like lagos should promote cycling.
6 Rail track within city limits should be handed over to states for mass transit.
7 No of government agencies drastically reduced.
......... I can go on

oduastates:
Absolute nonsense..

obj regime.......

Oil production - 2 million barrels a day
Population - 120 million
Average Price / barrel - over $35


A decade later.....
Same thing except
Population is larger, greedier and less educated.
Needs are greater.
The politicians, more corrupt.
The country, more dysfunctional.
More rent seeking "businessmen".
A bloated and more incompetent civil service.

Nigeria is a broken country. A country whose revenues are less than they were a decade ago.Adjusted for inflation, even lesser.
The country is overdue for bankruptcy.
Will clowns allow it or get out to protest for renewal?

What can be done
1 the National assembly has to be cut down to size.
2 Government parastatals workers(NUPENG) earning more than their equivalent abroad have to be cut down
3 The universities must be made self funding and Government scholarship given for science and technology courses only. Federal government colleges should be handed over to states.
4 shutdown unviable airports or handover airports to states. privatised viable airports
5 To reduce imported fuel consumption, cities like lagos should promote cycling.
6 Rail track within city limits should be handed over to states for mass transit.
7 No of government agencies drastically reduced.
......... I can go on

1. Forex availability: When OBJ of PDP took over power in 1999 from military, there was just $3.4billion in our forex account, Buhari on the other hand met $32 billion in the forex account

2. Crude oil price: In 1999, price of crude oil was at $25/barrel. In fact (I stand to be corrected), the highest price of oil in the first tenure of OBJ was $46/barrel in November 2002, by January 2001 it started falling back and by November 2001 it was $26. Buhari met price of crude at over $63/barrel, it then dropped to average of $30 and now hovers about $40.

3. State of the refineries: in 1999, the 3 refineries in Nigeria were at 0%, non was working at all, in 2015, the 3 refineries were working between 40% and 60% output when they were handed over, and they were in the process of being fixed.

4. Militancy: In 1999, militancy was at its peak, you couldn’t walk through the streets of Warri without raising your hands up the creeks were no go areas, expatriates were basically chased out of this country with kidnapping, murder, etc. Things were so bad that at a time, Obasanjo had to bring back some soldiers from Ecomog duties to come and secure the Niger Delta. Oil production output was at a point, less than 50% of our OPEC quota, drastically dropping our forex earnings. Buhari on the other hand have not had to deal with any militancy issues at all.

Debt profile: In 1999, thanks to IBB’s recklessness, Nigeria was indebted to everybody; world bank, IMF, Paris club, etc. we were overwhelmed with debts, but today, our debt profile is so low that even if we borrow the entire 6trillion naira to service our budget, we still won’t be in the red.

“Years of rot”: PDP came into power after 39yrs of “rot”, APC only have 16yrs of “rot”.
Subsidy regime: In 1999, Nigeria was subsidizing everything; petrol, kerosene, diesel, drugs, etc. Today, apart from drugs like anti-retroviral and child vaccines, Nigeria is not subsidizing anything. In fact in the 2016 budget, even the vaccines and essential dugs subsidy have been canceled.
Now, how did they both fare with what they got and the prevailing environment they found themselves?

I can tell you that as of April 2000, Forex was readily available for overseas education, medical tourism and vacation, fuel importation and subsidy payments, importation of raw materials and machinery, OBJ was able to grow the economy, clear our debts and left $64 billion in our forex account after 8 yrs. He increased minimum wage the very first year, he implemented the 13% derivation and even attempted to raise it to 17% for Niger Delta states. Price of goods did not quadruple.

Today, needless to say, prices of commodities have skyrocketed, no fuel, no more forex for school fees, medical tourism and vacations. refineries have been shut down, jobs are being lost, we are heading straight for a double dip recession and worse, there is still no specific blue print as to how we will get out of the current situation.

took 6 months to source them. Buhari cannot be flying around the world and preparing policies at same time. This is why I am really scared of the coming 3yrs.

onavae:
Gbam!

This is what I have been saying. Buhari should stop giving flimsy excuses and get to work. It is not impossible. OBJ did it in 1 year with an empty purse and hostile environment. Buhari is still lost after 1 year even with 30 billion and 0 militancy. That means even if you give him 100 billion, he will still be lost. Remember the good book says "if you cannot be trusted with little things, no one will trust you with bigger things". If buhari cannot achieve anything with 30 billion, then he cant achieve anything with 100 billion.

CC Lalasticlala, Obinoscopy, mynd44.

Front page things joor.

cc luvinhubby, tonyebarcanista, fire fire

oduastates:
Absolute nonsense..

obj regime.......

Oil production - 2 million barrels a day
Population - 120 million
Average Price / barrel - over $35


A decade later.....
Same thing except
Population is larger, greedier and less educated.
Needs are greater.
The politicians, more corrupt.
The country, more dysfunctional.
More rent seeking "businessmen".
A bloated and more incompetent civil service.

Nigeria is a broken country. A country whose revenues are less than they were a decade ago.Adjusted for inflation, even lesser.
The country is overdue for bankruptcy.
Will clowns allow it or get out to protest for renewal?

What can be done
1 the National assembly has to be cut down to size.
2 Government parastatals workers(NUPENG) earning more than their equivalent abroad have to be cut down
3 The universities must be made self funding and Government scholarship given for science and technology courses only. Federal government colleges should be handed over to states.
4 shutdown unviable airports or handover airports to states. privatised viable airports
5 To reduce imported fuel consumption, cities like lagos should promote cycling.
6 Rail track within city limits should be handed over to states for mass transit.
7 No of government agencies drastically reduced.
......... I can go on

jpphilips:


$3.2b in a $35.87b economy in 1999, and $32b in a $500b economy in 2016? now go back and apply a better sense.




Crude price is the positive Forex inflow in the Economy, so the size of the economy and population it caters for makes all the difference, if Nigeria earned 1m bbls of oil in 1999 at the price you quoted, inflow is $25*1m/35.7b(size of the economy aka GDP) which is 0.0007.
Now we earn 1.7m * $35/ $500b which is 0.0001. In Economic outlook alone, Obasanjo earned more money than Buhari in their respective first years in office, if I bring in the population index, you will apologise to Buhari, Like Kachikwu said, "it is a miracle how we survived this long"






I responded because I saw an age limit you gave to the discussion why are you talking like a child? OBJ awarded a TAM contract twice in his administration, one was to Chucks international, You must be a child to think the refineries was dead under OBJ, it was doing between 60% to 70% capacity or more. Nigeria Export Processing Zones Decree 63 of 1992 was set up in part for the "EXPORT OF PETROLEUM PRODUCTS" if the refineries were dead, where did we get the products from? Pet. Products export remained part of EPZ till 1998, how can you claim the refineries were 0% just a year after? does it make any sense to you?

Again, Nigeria was operating a DSO model which stood at 250,000bbls daily given to us free by the oil companies, all OBJ needed was to exchange it for products after the refineries had challenges, as a matter of undiluted fact, Obj's administration had no "real need" for the refineries and he proved that by selling it off.
Obj had no business with fuel scarcity in 1999, yet we still experienced it one time or another till the end of his administration.

Today, Nigeria has no DSO, the 445,000bbls Kachikwu is planning to convert to DSDP (a DSO model) is yet to kick off, the refineries worked at 40% capacity before it was attacked, I wonder whose fault that is? Let me not even compare the population size feeding on the said petroleum products. In 1999 we consumed less than 13m liters of PMS daily, in 2016 it is a whooping 40m liters, I am sure you seem not to realize that Nigeria today is nearly half of Africa by population, to provide for her adequately is not a piece of cake!!





Militancy in 1999? give me a break who are you f00ling? what we witnessed in the early 90's were few agitations by the ogoni people which died down with the death of Saro Wiwa, real militancy started in 2004, peaked in 2007 pick up a book!!
Buhari has spent 6 months of his administration fighting Al qaeda and ISIS affiliated wahhabist radicals of international repute, I dint hear your comments on recent boko Haram surrender, in the face of plumeting crude prices, or You really want to compare militants (rag tag street cult groups) with international terrorists?





Great stride by the OBJ administration and more thanks to prof Soludo the NEEDS convener and okonjo Iweala, you must understand that debt relief yielded fruit in 2005, that was 6yrs into OBJ administration, how long has Buhari spent?
While I applaud the savings made by the OBJ administration, it was only possible with high crude price that gave birth to the ECA, from which the debt was paid, Buhari is yet to enjoy even stable crude price let alone a high one, I tell you what, we need crude to sell above $70/bbl not only for effective budget implementation but also to have reasonable savings.





Apple Vs Oranges, 8yrs vs 1yr is a childish pick





Prove that everything you wrote here is any fault of this government?




This comment took me down the nostalgic lane, I can still rem vividly when the likes of Gani and other Nigerians blasted Obasanjo for several foreign trips, it got to a point where it was calculated that OBJ stayed in the country less than 2yrs in his 8yrs reign, when he handed them a debt relief, everybody buried their faces in shame, what they fail to understand was that Paris club at the time comprises of 20 member states.
Obasanjo was the only democratic president of Nigeria that has ever Chaired the African Union, you may ask what need does it hold today?
Do you know how much Nigeria will save if the whole Au was helping us to fight Boko haram?
They will contribute their funds, military and equipments in an intervention of such, today, we and few lake chad Basin partners are doing it alone.

Nigerians want victory against BH yet they complain about travelling, they forgot that lake Chad basin is made up of 5 Nations, they want Buhari to fulfil his oil price promise forgetting that OPEC alone has 13 member states, they will complain about travelling yet the equipments that gave us near victory in Sambisa was donated to us free by the same people who refused us a bullet in the previous administration, and one of those buhari visited recently.

I tell you what, failures in their respective endeavors have the temerity to criticize Buhari, I dey laugh!!

daylife7:


U just dey speak grammar: the guy is talking about approach of a government in its first tenure to quickly arrest d situation on ground. .....u think nigerian population is increased by 50%. Do u know the dead rate in this country. ....just shout up, if u don't have anything positive to add

daylife7:


U just dey speak grammar: the guy is talking about approach of a government in its first tenure to quickly arrest d situation on ground. .....u think nigerian population is increased by 50%. Do u know the dead rate in this country. ....just shout up, if u don't have anything positive to add

jpphilips:


You can't even construct sentences properly, what justifies the investment your folks made in your education? if I agree with you that Buhari failed as an administrator in just 1yr, then You must agree that you have failed your primary, Secondary and probably your parent's tertiary education investment, to the bizarre gramer you wield, how about that?

OAFMods:


You need to do more of the shutting up, you obviously have nothing to contribute and expect every sensible Nigerian to regret voting out the clueless thief from Otueke with his gang of thieves but alas you have 4 more miserable years to be tormented with the truth till you give up thinking every one will accept the bs the dimwit op posted or simply get a rope and do the needful.

daylife7:

In GST 101, it is called FALLACY (error in argument) if u ever wen to the university. ..you are avoiding the argument. Am not partisan. Read the first paragraph of the article

OAFMods:


To talk about fallacy, errors in reasoning you must first be able to comprehend what precisely reasining is. That is where your lecturers failed. You were obviously thought type of reasoning but lack the intelligence to comprehend what reasoning was all about. If you had taken the time to educate your soul on that your comment of NL won't be as pathetic or appalling. Refer to my first quote of your comment for an astonishing example of what pathetic is.

daylife7:

mind u, The problem of Nigeria is not English language, young man, Buhari cannot write a complete sentence let alone speak it.that's not what we are talking about. in fact the more u know how to speak English the farther u are from becoming a president in Nigeria. I AM EVEN CLOSER TO BE A PRESIDENT THAN U Mr grammar.