₦airaland Forum

Bros kindly identify the part(s) of the economy where there's positive growth especially that part that affects the people directly. Inflation rate? Exchange rate? GDP? ASI? ROI? Please explain. Thanks.

PassingShot:
How long it takes the economy to exit recession depends on some policies and strict adherence to them.

The good news is there are positive growth in some part of the economy already and that indicated aan upward journey out of recession.

slimmdree:
Brodaly ur not getting it, no one says PMB doesnt have hes fault, but what the guy is saying is if GEJ had done the needful then, we wont be in this situation right now.

when obama took over from bush he didn't go about blaming bush, he went to work. Americans were losing their homes and all that, but obama went to work. The thing is, what has this government done to right the wrongs of gej? The answer is nothing. Instead they have made things worse for the common nigerian with their policies.

izombie:
nobody is wishing away anything. Yes gej time wasn't the best but its been 2 years already since he left. Leave the guy alone. Buhari's policies are making a bad situation worse.

I guess all the reported speeches and quotes, backed up by link, didn't mean anything to you.

Do you even remember NOI saying Nigeria should prepare for tough times ahead in early 2015?

What does tough time mean to you?

Unfortunately most Nigerians are too dumb to understand what OP wrote. They only know what's directly in front of their eyes. The current educational system does not encourage critical thinking, so I'm not surprised by the responses.

The worst part is, if you criticize Jonathan, they think you're defending Buhari and start frothing at the mouth. It's like, physically impossible for them to conceive that you can criticize one without defending the other. APC or PDP. Black or white. Yes or no. Good or bad.

Abeg. I have better things to do.

StOla:
TonyeBarcanista is a man pretending to be asleep, you cannot awaken him to a reality he is hiding from.

Imagine claiming Jonathan relieved Stella Oduah of office due to corruption in the BMW saga. How many months after that and the fake Master's degree scandal was she shuffled out of the cabinet with praise? Where was the prosecution that was supposed to follow? The same party gave her a senatorial ticket.

Just like they want us to believe Andrew Yakubu was relieved as NNPC GMD due to corruption without prosecution, as opposed to the actual power tussle with Queen Diezani of Corruptia.

Cry Cry baby

zaimeg:
Exactly what I had in mind.
This particular BMC staff does not live in Nigeria.
People failed to realize that 2015 was an ethnic struggle.
The earlier people realize that the problem is bigger than APC or PDP, the better.
Nigeria needs reorientation and restructuring.
The current system is designed to fail, encourage corruption and injustice.

ramblings ramblings and ramblings, yet no one has countered what OP just wrote with supporting quotes. Numbers cannot lie ,they are FACTUAL! If 1 + 4 = 11 then we must know for sure that something ain't adding up somewhere.

Dieumerci1:
Bros kindly identify the part(s) of the economy where there's positive growth especially that part that affects the people directly. Inflation rate? Exchange rate? GDP? ASI? ROI? Please explain. Thanks.

Non-oil export part of GDP has started to increase. Local production of rice and some other agric products have increased. A simple research will reveal,more but I'm out now.

All i could see here is PassingShot Vs embittered Ipob miscreants; A typical case of a reasonable intellectual trying to educate some pack of wide horse.

As usual they never fail to disappoint with their small minds and crash ignorance.

luvinhubby:
After all the long epistle, the summary is who multiplied Nigerians suffering?

Ans - Buhari.

Classic illiterate! You dont have the capability to counter OP so......ramblings ramblings as usual. Illiterates everywhere!

Boleyndynasty2:
let's go der

where do we start from,, drop me ur link somewhere safe

PassingShot:
This is not about any politician. It's about separating facts from lies and distortions

leave Nairaland and go look for better work. put this better energy into a productive enterprise.

omenkaLives:
I would have done this but long lost the zeal to write articles due to the preponderance of stupidity on the politics board these days; seems some alien beings who lack the capacity to think like normal humans do have hijacked the board and you see them crawling all over threads, messing them up soon after they are created.

Great rejoinder Passingshot. Much respect as always. Keep that flame burning.

GBAMEST! !!!!!

Aufbauh:
AllAll i could see here is PassingShot Vs embittered Ipob miscreants; A typical case of a reasonable intellectual trying to educate some pack of wide horse.

As usual they never fail to disappoint with their small minds and crash ignorance.

It's a pathetic situation. Their sense of reasoning is affected by their ignorance and hatred for PMB.

azzima:
ramblings ramblings and ramblings, yet no one has countered what OP just wrote with supporting quotes. Numbers cannot lie ,they are FACTUAL! If 1 + 4 = 11 then we must know for sure that something ain't adding up somewhere.

Are you also a paid hack? I am neither a wailer nor a zombie. Prove that you are neither also then we discuss the way forward for Nigeria. Otherwise, please don't quote me or I won't dignify you with a response.

Nukualofa:
who is arguing with you when rice is 20k

Comot for here jare

how many seed of rice did your ineffectual buffoon planted before leaving office?

luvinhubby:
Speculation

Rice was 9,000 per bag before Buhari, today it's 20,000, that is all that matters to 170 million Nigerians.

ILLITERATES! !!!!

Wiseandtrue:
Passingshot use an illustration of a sensible man who knows what to be done.
Does Buhari know what he is doing
What is the blue print What is his plan

He keeps talking about growing Nigeria when he and his ministers are going abroad.

Is Buhari's car made in Nigeria Or that of his ministers or senates or HORs That amongst so many items I won't want to mention because of space.

This century is drifting away from oil or so they made us believe then the same government is spending billions of dollar searching for the same oil in the north

Or is it the annual budget, is passingshot claiming that he is not aware of the re-occurences or repetition in the budgets as reported in the media

My brother I tire to dey argue with some people no wonder they were termed "zombie"

this your memes ehn



Arguing with them is draining because they refused to open their eyes to reality

Austin4lif:
leave Nairaland and go look for better work. put this better energy into a productive enterprise.

This is what we say about childish behavior of some of you.
Do you know me or know anything about me to know that I need a job?

And if I tell you I earn well beyond your imagination, what would you say?

Tonyebarcanister and omenkata right now!

PassingShot:
Not for his own sake. He surely knows what he's doing is for politics being a politician.

It is for those he wants to misguide and deceive. For our common good.

the difference between passingshit and bastardniggar is that they work tirelessly different corrupt politicians.

PassingShot:
Only if there was honor among thieves!

In response to the thread by TonyeBarcanista, it is important to constantly remind him and those like him who have demonstrated to be gifted with short memory, how and why we are in the sorry state we are.

Without wasting time, let’s liken Nigeria to a young family man who worked for sixteen years on very decent monthly salary of N1,000,000. In the sixteen years he earned N1M monthly, the said man has acquired taste for luxury life, living in a duplex in Ajah Estate with all the good things life could offer. This man was living large and had little or nothing in savings. Then one day, he lost his high-paying job and could only manage to secure another one which offers a third of what he used to earn. His new job only pays N300,000 monthly!

Without being told or advised by anyone, the man must realize that he can no longer house his family in the Ajah duplex they’d lived for sixteen years even if there was savings let alone when there is no reasonable savings. He must therefore scale down on EVERYTHING about his living and that of his family. He will need to change his children’s school. He will need to move into a 2 or 3 bedroom flat in Ikorodu or Agege. He will need to ride a smaller car. If his family used to go on weekly/monthly picnic, that also must stop. His and his family choice of food will change. In fact, he must engage more in DIY (Do It Yourself) than ever before for some tasks. Such man will have no one to blame for needing to scale down on his living except himself!

If we all agree that the man in the example above must cut back on his spending with a lot of sacrifices, there should be no reason why any reasonable person will fail to understand why Nigeria is in the current economic mess or what sacrifices Nigeria must make to weather the storm.

OBJ, with all his flaws, managed to build decent external reserves ($45bn ), created and built the excess crude account (above $20bn) for rainy days and was able to hand over good economy to Yar’Adua. Yar’Adua was on the same trajectory before his creator decided to take him away.

GEJ inherited $47bn in foreign reserves plus another $20bn+ in ECA. During the over five years he spent as president, crude oil which is the major source of income to Nigeria (responsible for more than 90% or our dollar earnings) sold for an average of $100 per barrel, yet the hugely incompetent man from Otuoke found a way to plunge the reserves to an abysmal level of $29bn as at the time of his exit and went on borrowing spree (which was also looted) even when there was no need to. In fact, GEJ and his gang r@ped Nigeria without mercy such that the FG had to borrow money to pay its workers in Nov 2014 and March 2015 just because crude price crashed from $100 to $76 a barrel. Sane minds can only imagine how such regime could have fared, or how much we would have suffered, if they were in charge of our affairs when crude crashed further to $27 a barrel.

Let’s not even talk about the ECA which his supporters will be quick to blame the governors for asking it to be shared. Though they will pretend not to know that the request of the governors made perfect sense for the fact that GEJ and Ngozi were fond of stealing from the account which jointly belonged to the FG and the states, they know in their mind that there argument lacks merit.

Is there anything happening in Nigeria today that was not foreseen, predicted or that we were not warned about? The answer is a resounding NO.

Let us refresh our memory with the warnings and predictions about today’s hardship and economic woes perhaps a few minds will be more objective and more reasonable.

1. OBJ warned Jonathan in Nov 2014: Extracts from the report:

"Sooner or later, the Naira will have to be drastically devalued without any advantage to our one commodity economy but with horrendous disadvantage to already impoverished Nigerians. We will all sink deeper in poverty except for those who have corruptly stashed money abroad and who will start to bring such illegal and illegitimate funds back home to harvest more Naira. All the economic gains of recent years and the rebuild of the middle class may be lost.”

“In the end, more businesses will close down, business men and women, entrepreneurs and investors will incur more debts. Foreign investors may temporarily stop investing in a downturn economy.
“Because of the Naira depreciation, workers, particularly in the public sector, will ask for pay increase, which may be justified but will sink us deeper in the swamp.
“The scenario, which may sound alarmist, is hard to imagine but the signs are there and it would appear that those who should act are dancing slow foxtrot while their trousers are catching fire”.
http://thenationonlineng.net/obasanjo-warns-jonathan-economy-is-in-big-trouble/


2. Sanusi, the then Governor of Central Bank warned too!

“Over 20 billion dollars unremitted to the federation account, and if nothing is done, by 2015 upward Nigeria will know what economic crisis is.”

When he was invited by the Senate to substantiate his claim, he said"

“It is established that out of the 67 billion dollars crude shipped by NNPC between January 2012 and July 2013, $47 billion was remitted to the Federation Account. It is now up to the NNPC to prove that $20 billion unremitted either did not belong to the federation or was legally and constitutionally spent. There is no dispute that $20 billion out of the $67 billion has not been paid into any account with the CBN,” he said.
http://icirnigeria.org/sanusi-insists-20-billion-is-missing-nnpc-denies-allegation/

We all know how Sanusi the whistle blower was sacked by the fisherman.


3. Oby Ezekwesili sounded the alarm bell in 2013: “Our reserve is depleted and our savings are squandered. Our nation is in trouble.”
She later stated: “The key FACT is that even by the time of that crisis when Soludo had to defend the Naira with our Foreign Reserve, he spent about $15b of it and still left behind about $45b when he departed as Central Bank Governor in 2009!!!
Now imagine that since that time oil prices have averaged between $95-$100 per barrel and we export an average of 750 million barrels per annum. How then can the Foreign Reserve only now be starting to grow back to the same size it was in 2009 after such hefty earnings of the last 4 years? The FG numbers do not add up at all and we need to know why!
The citizens need an explanation and that’s why I called for accountability. It is simply a patriotic call which should not result in the name calling by officials of government."

http://dailypost.ng/2013/03/08/oby-ezekwesili-now-that-sanusi-lamido-sanusi-has-admitted-fiscal-leakages/


4. Jonathan Lacked Political Will to Save – Ngozi Okonjo Iweala

And madam Gele finally agrees to her and her boss’ gross incompetence by saying:

The former finance minister and World Bank president, who spoke on “inequality, growth and resilience,” with Chile as an example of a country with a saving culture, said:

“We tried it in Nigeria, we put in an oil price based fiscal rule in 2004 and it worked very well. “We saved $22 billion because the political will to do it was there. And when the 2008 /2009 crisis came, we were able to draw on those savings precisely to issue about a five per cent of GDP fiscal stimulus to the economy, and we never had to come to the Bank or the Fund. “This time around and this is the key now, you need not only to have the instrument, but you also need the political will. In my second time as a finance minister, from 2011 to 2015, we had the instrument, we had the means, we had done it before, but zero political will. “So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in, along with so many other countries.

http://www.vanguardngr.com/2016/04/nigeria-had-no-political-will-to-save-under-jonathan-okonjo-iweala/
For the “video or Idontbelieve it” crew, it is available on YouTube as well.

[b]Now that we have seen that today’s economic mess was created by GEJ and his thieving gang, it makes no sense for anyone to blame PMB for the current situation. If anything, PMB deserves commendations for being able to provide bailouts to states owing salaries before he came on board, for being able to provide additional budget support due to reduced allocation to state, for being able to increase our foreign reserves despite that crude price is still at around $50 per barrel, for being able to build roads that those who earned billions in dollars couldn’t touch, for being able to start N-Power project employing hundreds of thousands unemployed youths, for being able to complete abandoned Kaduna-Abuja rail project, for being able to restore life in the NE that was ravaged by Boko Haram due to GEJ’s incompetence, for being able to bring some past looters to justice (Dasuki, Andrew Yakbu, Diezani, Bafarawa, Akpobolokemi, etc), for being able to restore some sanity in our ultra-corrupt judiciary, for ending fuel subsidy scam, for working towards self-sustenance in rice and other staple food production, for working to make Nigeria refine her own crude locally by 2019, etc., etc.[/b]

GEJ and his gang of looters raped Nigeria without using condom or any form of protection. The product of such violation is today’s economic hardship.

Had PMB not become president, Nigeria would have completely failed. I have no doubt about that happening and it’s based on what have now been revealed in the numerous looting of our common wealth.


God Bless PMB/VPYO
God Bless Nigeria

your write up is emotion laden with little or no fact, this is just a vicious attempt to discredit the Jonathan's regime and make it look as if he is the root cause of Nigeria's problems. Meanwhile what we suffer today is a cumulative effects of over 40 years of pummeling, squandering and siphoning of our Commonwealth by both civilian and military regimes which buhari is part of. you said that oil provides for 90% of the country's revenue, still you praised Obansanjo, Yar-adua and even buhari who did nothing and is still doing nothing to diversify the economy. Buhari is simply an illiterate who doesn't have what it takes to lead even a local govt in at this information age, he is vindictive and a tyrant. I don't know if its Jonathan that is killing people all over the country for exercising their rights to peacefully organize and express their displeasure, you will soon realise that you employed the services of a town crier to do the job of a pilot.

/
Nigerians are dealing with the unknown.

A bus heading from Lagos to Abuja, got to Lokoja and another driver took over and got it to the final destination.
Yet the passengers are claiming that they didn't know the destination is Abuja.

GEJ supervised the squander of your commonwealth. What you are living now is the aftermath. $2.1b given to Dasuki alone is more than the 2016 budgetary allocations of Abia, Adamawa, Anambra, Bauchi, Enugu, Ekiti, Gombe, Katsina, Kogi, Kwara, Niger and Nasarawa states combined.

Yet some of you pretend that they don't know the truth.
/

Jesusloveyou:
how many seed of rice did your ineffectual buffoon planted before leaving office?

See i beg you with anything you worship to stay away from my mentions because i don't want your bad tenses to add to the headache I'm having right now

Nukualofa:
Done what? The truth about people like you is that they can't eat their humble pie and tellus that they were deceived by the broom wwielding demons of Change.


Buhari has showed us that you can fail in 1984 and also fail in 2015 and you will be applauded by zoneBs

CAN SOMEONE ON ANY PLANET PLEASEEE COUNTER OP'S FACTUAL POINTS ??and not all these pedestrian and dumb ramblings by wailers.

zaimeg:
Exactly what I had in mind.
This particular BMC staff does not live in Nigeria.
People failed to realize that 2015 was an ethnic struggle.
The earlier people realize that the problem is bigger than APC or PDP, the better.
Nigeria needs reorientation and restructuring.
The current system is designed to fail, encourage corruption and injustice.

All those quoted are from the South apart from Sanusi who blew the whistle because he was CBN Governor then.

You have any proof I work for BMC?

Aufbauh:
All i could see here is PassingShot Vs embittered Ipob miscreants; A typical case of a reasonable intellectual trying to educate some pack of wide horse.

As usual they never fail to disappoint with their small minds and crash ignorance.

A 1000 ipob youths will do wonders teaching western education to Zamfara Gombe and Jigawa combined. These Ipob youths are miles ahead of your region

PassingShot:
This is what we say about childish behavior of some of you.
Do you know me or know anything about me to know that I need a job?

And if I tell you I earn well beyond your imagination, what would you say?

i am just advising u becos you spend better part of ur day here. if you are really busy, you won't be here 24/7.

God Bless you for for standing by the truth--Why are people defending incompetency--in the past two years--this is the first time nigeria is proposing the highest budget but nothing is seen out of its implementation--in the past two years -is there any increase in workers salary,, but every month the present government is taking 52% of the total allocation,,,,This government is the first to received from NLNG account all the money accrue from the agreement made by OBJ to use their tax for building new trends,,,This same government has increase fuel price,light bill,Tarrifs,,they have Ban importation of several commodities,,they have received so much fro MTN,TSA,,,They said much have been recovered from loots----why are they not making any different in the services to the common nigerians---thing are getting worse--they dont have any excuse---i cant understand when you promise twenty five million jobs in a year but about 5 million jobs are loss and i should listen and celebrates that type of government---let be truthfull for onces and face facts--Nobody is hating Buhari but the common man is not happy--there is no hope--that is why people are killing people anyhow --to sell their parts for rituals[[CHECK IT OUT IN THE WESTERN PARTS OF THE COUNTRY]--IT WAS NOT LIKE THIS SOMETIMES AGO---tHEY ARE BORROWING EVERYDAY BUT THEY CANNOT PUT IT TO GOOD USE--WHAT IS HAPPENING--They came with so many promises but for two years now nothing is fulfill---instead is about blaming the past administration which 90% of those serving in this government were in the past administration either as Governors,past ministers etc.To buy a tokumber car now is a big issue because the price of that same car three years ago is three times today because of wrong policies in place.that was meant for the

izombie:
what is wrong with some of you? Yes gej has come and gone but you guys are still on him after 2 years. The 16 years you are referring to, most of the people that were destroying naija in those 16 years are in apc now continuieng their destruction of naija. The problem with this government is not past administration but their policies. Companies have sacked workers or folded up because of buhari and his policies. Other companies have relocated to other countries. You talk about cutting down on costs and spending but i ask you, has buhari cut down on anything? The presidency has been allocated more allowances, the senate and house of representatives have also more allowances. The president that budgeted billions for one hospital in aso rock finds it appropriate to travel to oversea just for check up. The feeding allowance for aso rock is almost 2billion now. The worst part is that these people do not even have any plans on how to solve the problems they have created. No matter how you try to defend and twist these things, buhari is the worst president ever in nigeria. You should be ashamed of yourself for trying to defend this. Buhari has failed woefully.

another round of the Blame Game, mtcheew

PassingShot:
It couldn't have been better immediately under PMB. The damage will run its course before things return to normal.

It could have been worse than this if GEJ had been re-elected based on the facts already stated above.

I have just one question. If you are to be in Buhari's shoes and you have just one thing to do that will make great direct impact in the lives of citizens of this country, what would it be?

azzima:
CAN SOMEONE ON ANY PLANET PLEASEEE COUNTER OP'S FACTUAL POINTS ??and not all these pedestrian and dumb ramblings by wailers.

Nobody is crazy enough to join in a walk of Shame with the Op so it's best for this piece to be dumped ina garbage can