₦airaland Forum

sorextee:
I dont really know much about politics.. But from all indications, among those mentioned, the economy was better off, during obj.

I didnt even bother to read buharis own.

facelessangel:
You need to add the cost of commodities and foreign. Exchange. You are too kind with Buhari's administration.

There is nothing to compare. Bahari is a disaster. What is the cost of food and commodities in this government?

When God wants to punish a nation, he gives them bad leaders

Tokt:
[[s]quote author=TonyeBarcanista post=49008740]
Here we go again. Who said the President should resign? Resign for who? What has that got to do with my position?

Like I opined, the former government flopped and was kicked out accordingly. A new government was sworn in to tackle challenges and not tell us the former flopped. If Obasanjo had towed that line of blaming the military for crumbling the economy and giving us $3.7billion as Reserve and $35billion in debt, he wouldn't have recorded the relative success that he had. Obasanjo wouldn't have achieved $22b ECA, $45 billion Reserve, almost $0 in debt, opened up the banking sector and insurance sector, deregulated the telecommunications sector and strengthening Stock market among others.

Like I said, Nigerians want corrupt officials that mismanaged the treasury PUNISHED not some rewarded (like we are seeing under Buhari). We don't want someone telling us who was at fault even after being in the saddle for 16 months with nothing positive to show for it save the relative peace in North East.

Nigerians need a leader to better their lives not someone repeating who caused their problems without doing anything about it.

BTW though Buhari still got 2.6 Years left, his past 1.4years has been epic fail, and we hope he redeems himself even though there are no plans on ground to suggest that.[/s]

[s]Shut ur trap. What he is basically telling u is this man in question still has well over two years to deliver his mandate. Grouping him with failures that have ended their tenures is senseless.

BeeBeeOoh:
I can bet my left blokos in my scrotum that 99.9% of the commenters didn't/will not read this epistle starting from me..

TonyeBarcanista:
Maybe I was kinda soft on the administration of Buhari but that is because he is a work in progress. I just want to retain the objectivity

IVORY2009:



Demdem, calm down and take time out and read the article, its very informative, u rely does not make sense bro, must u insult all the time...

DLuciano:
why wont you read? I read and many others did too

TonyeBarcanista:
Readers are Leaders

Tokt:
[s][/s]

Lackey, can u swear on ur life that i didnt read? The climax was the fact that Jonah-daft government was the worst. A curse, buhari is currently battling with. he will surely succeed by the end of his tenure.

TonyeBarcanista:
Permit me to take a cursory but holistic look at the administrations of former Presidents Olusegun Matthew Obasanjo, Umaru Musa Yar'adua, Goodluck Ebelemi Jonathan, and incumbent President Muhammadu Buhari, whose administration is ongoing.

[size=13pt]PRESIDENT OLUSEGUN AREMU OBANSANJO (1999-2007)[/size]
When Chief Obasanjo was sworn in on May 29, 1999 as the President of Nigeria after his February 27 (1999) triumph at the polls, Nigerians were expectant of better things ahead. He came, met huge debt of about $35billion (year 2000 figure), with Paris Club Consortium being our biggest creditor with $30 billion payable to them (There was actually nothing to show on ground to justify the ridiculous debt); Our External Reserve was a paltry $3.7 billion, with the country in need of progress, institutions, industries, and need to fight corruption.

President Olusegun Obasanjo almost immediately admitted that Nigeria cannot sustain the huge debt and still move forward, he had a high powered economic team led by Dr Ngozi Okonjo Iweala, who doubled as his Finance Minister, to seek for debt relief particularly from our biggest creditors, Paris Club. The effort paid off in 2005 when Paris club announced that they have forgiven Nigeria of $18 billion out of the $30 billion we owed them. As at May 29, 2007, Obasanjo left a Nigeria with external debt of almost zero. Our total debt was $3.348 billion, which included debts incured by the 36 states of the federation http://www.financialnigeria.com/development/developmentreport_category_item_detail.aspx?categoryid=5&item=174

In 2004, President Obasanjo created an account to save excess crude revenue accrued to the country, called Excess Crude Account. The idea behind the ECA is to save for the rainy day. For those that may not understand, the ECA works with the set oil benchmark for each fiscal year. If the Budget (Appropriation Act) for a given fiscal year set Oil benchmark at $50 per barrel and oil is sold at $60 per barrel, the extra $10 earning will be paid into the Excess Crude Account(of Extra Crude Account according to Prof Tamuno David West). According to Madam Oby Ezekwesili, "its primary purpose was to protect the budget against shortfalls and insulate the economy from shocks resulting from volatility in crude oil prices".The Account was $0 as at time of creation in 2004, but rose to $22 billion in December 2007 ($9.8b earned between 2004 and 2006, and $12.3 billion earned in 2007 alone)http://standardtimespress.org/?p=3362.

In fact, the 36 Governors under the Nigeria Governor's Forum had insisted that the ECA be shared, and even went to court. Obasanjo administration was not moved.

In the area of External Reserve, the Obasnjo government performed extremely well by taking our reserve for meager $3.7 billion to a whopping $45 billion.

All these he achieved when oil price was $30(as at 2003) and it was at $90 when he left. He was faced with militancy in the Niger Delta region, and some pockets of crises across the nation.

He created anti-corruption institutions such as EFCC and ICPC, which recorded relative success, as well as indicted powerful government officials including a former Senate President Adolphus Wabara, former minister Fabian Osuji, former Vice President Atiku Abubakar, former Governors, LGA Chairmen etc.

Obansanjo deregulated telecommunication sector, under his administration banking sector boomed as Banks were recapitalised, he unsuccessfully made attempt to deregulate petroleum sector(was resisted), as well as selling the Refineries to private individuals-which was reversed by his successor.

Most importantly, Obasanjo government successfully FOUGHT the scourge of adulterated drugs by strengthening NAFDAC through the former DG and Amazon Prof Dora Akunyili of blessed memory.

DEMERIT
Despite the good deeds of President Olusegun Obasanjo, he had lots of flaws. His government deliberately refused to strengthen the political environment. He disobeyed court order at will especially the Supreme Court order that instructed him to release allocations belonging to the 20 LGAs of lagos state, which he seized due to political disagreement with Lagos state government under Bola Tinubu. http://www.nigerianmuse.com/important_documents/?u=Obasanjo_lawless_unconstitutional_over_LG_funds.htm

The government promoted illegality by backing the illegal removal of Governors that he wasn't favorable to. Among them were Chief Rasheed Ladoja(Oyo state) who was impeached in a hotel by 18 members of OYSHA instead of minimum 22 as required by the law; Joshua Driye(Plateau state), who was impeached by 5 out of 24 members of PSHA, Mr Peter Obi(Anambra), who was illegally impeached within SEVEN MONTHS of winning his mandate in Supreme Court. The Court reversed all aforementioned impeachment.

Obasanjo also dignified godfatherism and exalted godfathers including late Pa Lamidi Adedibu of Amala Politics in Oyo state, Olusola Saraki(Kwara) and Anthony Aninih(Edo) state. Under President Obasanjo, election was neither free nor fair as there was political thuggery, ballot box snatching, electoral fraud of various kind including open fraud perpetrated by INEC in 2003 and 2007 General elections. Political democracy within PDP was lost as the will of Baba must stand.

Most painful is the fact that Chief Obasanjo refused to fixed power even after spending a whopping $16 billion. I recall the former minister of state for power Chief Liyel Imoke once said Nigerians should not expect constant power for the next FIFTY YEARS.

IVORY2009:
[/s]


Demdem, calm down and take time out and read the article, its very informative, u rely does not make sense bro, must u insult all the time...

TonyeBarcanista:
[size=13pt]PRESIDENT UMARU MUSA YAR'ADUA (2007-2009)[/size]
When the Katsina born Yar'adua was elected, he came with "people" policy and crave in to labour demands by reversing the Kaduna and Warri refineries sales, the Egbin Power Plant sale, and reverted price of petrol to N65 per liter(reversing the deregulation moves of Obasanjo).

Yar'adua came with respect for the rule of law, he initiated the PIB bill and sent to NASS, he forwarded the Freedom of Information Bill that was declined by Obasanjo and pledged to work for it if passed(BTW Obasanjo's decision to veto was simply that the bill be named Right to Information instead of Freedom of Information), he commenced electoral reform process, paid Lagos state government under Raji Fashola the seized LG allocation held by his predecessor.

A total External Debt of $3.48 billion (36 states and FG) as at 2007 was left at $3.94 billion Dollars at the end of 2009(when he fell sick in incommunicado).http://www.dmo.gov.ng/oci/News/docs/Fact%20on%20%20Nigeria%20External%20Debt%20Stock.pdf

He "increased" External Reserve from $45billion to $47 billion in 2009 http://www.vanguardngr.com/2011/03/state-of-nigerias-external-reserves-worrisome-cipm-president/#sthash.cXXdNcoU.dpuf. It was $65billion as at September 2008. Please note that The reserve grew when the price of Crude Oil was $147 per barrel, It Slided in Mid 2008 during the recession, when the crude price fell to $35 per barrel in 2009. http://www.nigerianmuse.com/20090102021223zg/nigeria-watch/nigeria-s-foreign-reserves-dip-to-52-7-billion/.

However, Umaru Yar'adua conceded to the governors and started the SHARING of ECA. The ECA was first depleted from $22billion in 2007 to $20.34 billion By end December 2008, and $6.54 billion by end of 2009 when Yar'adua went ill (CBN Annual Reports for 2008 and 2009) despite the fact that Oil price sold at $147 per barrel in 2008. Yar'adua never considered the future by taking such decision.

Also Yar'adua reversed the anti-corruption gains by Obasanjo when he unceremoneously removed the celebrated former anti-corruption czar Mallam Nuhu Ribadu from his position as EFCC Chairman due to the demand of indicted(now convicted) former Delta state Governor James Ibori, he replaced Ribadu with Ibori's nomineed Mrs Farida Waziri. He refused to take serious the prosecution of all former Governors indicted by EFCC and also openly rigged the Ekiti rerun Governorship election in favor of his Party's candidate Segun Oni(a decision the court reversed).

Yar'adua introduced Amnesty programs for militants in the Niger Delta region which ushered relative peace and increased oil output, he created the Ministry of Niger Delta Affairs to pacify agitating Niger Deltans, and initiated the PIB bill. He fought Boko Haram to standstill when they first raised their ugly head in Maiduguri and under him there was relative peace.

However, the country was very stagnant under his watch, and earned himself the title Baba Go Slow.

AnonyNymous:
I read the whole thing. Great job TonyeBarcanista. Very good post. What I gathered from it is that Obasanjo's administration was the best, compared to the other ones, but he was too powerful. If only baba had left behind a very strong political structure, and had respect for law and order Nigeria would be better than it is today.
Yarauda initiated the death of Nigeria and Good luck Jonathan started burying the country. About Buhari, I don't know, let's wait till the end of his term

StOla:
Jonathan was a failure in all ramifications.

The worst thing that could have happened to a growing economy like Nigeria was to have a dunce as president in the most fruitful years of our nationhood.

Now there is famine and people are still asking for food while celebrating an ineffectual buffoon who refused to store grain for the days of want.

How did OBJ and Yar'Adua manage to grow our reserves but Jonathan couldn't despite unprecedented higher earnings?

Even if he was too dull to grow the reserves, must he be irresponsible to have depleted what sensible leaders before him worked hard to store up?

Even if he was too irresponsible to deplete the treasury, must he be an enemy of the state to have borrowed so much money with only 2nd hand trains and the same 4000MW electricity that OBJ already achieved, as evidence of all the monies expended?




Jonathan! Jonathan! Jonathan! Ko ni daa fun ee.

StOla:
Jonathan was a failure in all ramifications.

The worst thing that could have happened to a growing economy like Nigeria was to have a dunce as president in the most fruitful years of our nationhood.

Now there is famine and people are still asking for food while celebrating an ineffectual buffoon who refused to store grain for the days of want.

How did OBJ and Yar'Adua manage to grow our reserves but Jonathan couldn't despite unprecedented higher earnings?

Even if he was too dull to grow the reserves, must he be irresponsible to have depleted what sensible leaders before him worked hard to store up?

Even if he was too irresponsible to deplete the treasury, must he be an enemy of the state to have borrowed so much money with only 2nd hand trains and the same 4000MW electricity that OBJ already achieved, as evidence of all the monies expended?




Jonathan! Jonathan! Jonathan! Ko ni daa fun ee.

StOla:
Jonathan was a failure in all ramifications.

The worst thing that could have happened to a growing economy like Nigeria was to have a dunce as president in the most fruitful years of our nationhood.

Now there is famine and people are still asking for food while celebrating an ineffectual buffoon who refused to store grain for the days of want.

How did OBJ and Yar'Adua manage to grow our reserves but Jonathan couldn't despite unprecedented higher earnings?

Even if he was too dull to grow the reserves, must he be irresponsible to have depleted what sensible leaders before him worked hard to store up?

Even if he was too irresponsible to deplete the treasury, must he be an enemy of the state to have borrowed so much money with only 2nd hand trains and the same 4000MW electricity that OBJ already achieved, as evidence of all the monies expended?




Jonathan! Jonathan! Jonathan! Ko ni daa fun ee.

King Jonah, She-cow and Bubu son of Hari

1. In the fourth year of the reign of Jonah the Able, Son of Locki as King over the people of Nigira, prosperity was upon the land, and there was grains and tubers in abundance.

2. Thereupon, King Jonah spoke to the people saying ”Lo, I have rebuilt the rails and the roads, and given you abundant bread and grains.

3. In my reign you have not queued endlessly for oil. I have reformed power and made our nation prosperous.

4. Reward me, O great people of Nigira. Let me lead you to further greatness!”

BeeBeeOoh:
izit your time?

Izit your data? Izit your phone? Izit your eyes that I want to read with? Why can't you leave me alone not to read my read

StOla:
Buhari is failing because it takes time to grow cassava to make garri.
Anyone who is hungry yet celebrating Jonathan, should soak sand and drink to quench the hunger.

Every time Jonathan opened his mouth to talk on the campaign trail, the cluelessness that oozed out of that orifice of corruption and gluttony, ensured that Buhari got 10k voters more.

IVORY2009:
lolzzz Jonathan's govt was the worst, but Nigerians where not hungry bro, and you said Buhari is battling to fix the economy, the question is for how long, people are feed up, hunger in the land, how are we sure he will be able to fix the economy especially as he is sorrounded with amature cabinate members!

shammah1:
The zombie in you has the mark of 666. It's permanent

TonyeBarcanista:
It took me time, data, energy and efforts. Enjoy...


Waiting for sensible contribution

TonyeBarcanista:
@Emboldened is one of the problem of this government, BLAME GAME.

The blame is unnecessary, Nigerians sacked the former government because they recognised their failures, and were expectant of change of fortune with Muhammadu Buhari. Nigerians are not interested in someone telling them who is at fault in every forum or who is not, Nigerians want to see those that mismanaged our Common wealth punished, and the new helmsman to change our fortune. But all we get is spiral fall of our means of livelihood, try your luck policies, bringing on board same corrupt elite that participated in mismanagement of our common wealth at all levels, backing of corrupt officials favorable to government, and BLAME GAME ALL ROUND.

The government is not fighting corruption, if it was it would have taking a patriotic stand against inductees within his government and officers like Gen Tukur Buratai. If Obasanjo can take it on Tafa Balogun, his fellow Yorubaman, why can't Buhari on Buratai? See what is happening in HOR with issue of padding, despite the facts from Jubrin the government still look the other way. Even the Emir of Kano had to voice out that the government is promoting FX fraud. Some former supporters had echoed similar sentiment.

You may be a Buharist, but I expect you to be less sentimental if this country is to advance. Lack of economic plan by the government is not the fault of the former but solely on the government.

By the way I'll score the government an E... the E is for tackling insurgency. otherwise a BIG F would do

MaziOmenuko:
The unfortunate death of Umaru Musa Yaradua set us back politically for 21yrs.

StOla:
Jonathan was a failure in all ramifications.

The worst thing that could have happened to a growing economy like Nigeria was to have a dunce as president in the most fruitful years of our nationhood.

Now there is famine and people are still asking for food while celebrating an ineffectual buffoon who refused to store grain for the days of want.

How did OBJ and Yar'Adua manage to grow our reserves but Jonathan couldn't despite unprecedented higher earnings?

Even if he was too dull to grow the reserves, must he be irresponsible to have depleted what sensible leaders before him worked hard to store up?

Even if he was too irresponsible to deplete the treasury, must he be an enemy of the state to have borrowed so much money with only 2nd hand trains and the same 4000MW electricity that OBJ already achieved, as evidence of all the monies expended?




Jonathan! Jonathan! Jonathan! Ko ni daa fun ee.

FastShipping:
It seems Obasanjo 3rd term wouldn't be bad idea at this point.

I was a staunch supporter of Buhari. Looking back now, it was the wrong thing to do. Buhari came in with no economic plan whatsoever. Where are the so called shovel ready Jobs promised by Osinbajo?

Well, Buhari wouldn't be there today if Jonathan had done well.