₦airaland Forum

PassingShot:
TonyeBarcanista and his crew, I need you guys here. Let's argue!

PassingShot:
A cleaner in my workplace earns more than N200k in naira. You need job?

obiageIi:
Reserve grown by how many %
Idiots will always be idiots

PassingShot:
My cubicle office can make me employ you on salary of more than N100k monthly.

You need job? Send your CV to passingshot@gmail.com

luvinhubby:
Buhari Media Centre (BMC) crew reporting live from Utako, FCT.

By their fruits fingers you shall know them.

Jesusloveyou:
so what brought us to this sorry state? If not mismanagement and stealing of the past to the tune of more than 30tr naira.
Can the best economist in the world recover 30tr naira lost within 2yrs? Even if oil is stil selling above 100dollar for a barrel. I mean 2yrs. Not 6yrs or 4yrs.

Austin4lif:
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.

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

dodelight:
.

You people keep referring to past stealing just to justify your support for Mr Buhari. Why not talk about the points I raised there? And address this one too: Most of those who stole the alleged trillions of Naira are now in the ruling party. What saith thou about that?

ehie:
u are giving urself high blood pressure, dont u get it, they are paid to propagate disinformation, no amount of reasoning seeps through their parastitc soul,you are passionate about your nation, dont waste in on them(because frankly, they are time wasters), channel it into more productive ways like escaping this hell hole

PassingShot:
Because you're a defender of corruption. No surprises.

krysto:
Mass looting has always been the order of the day. we need a stronger constitution and institutions. Laws to kill looters either by hanging or express firing squad need to be enacted like in China and other Asian country but who will bell the cat? The current government were voted into government to right the wrongs. we will not welcome further excuses. we want result.

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

KingOfAmebo:
Educated fools will never Learn...you keep pointing at the ills and looting of the previous administration as an excuse for the present economic woes facing the country but fail to ask why this present administration can not seem to have answers to the problems facing us.

how awkward and foolish to think that educated people like you voted for an illiterate to lead a country as big as Nigeria and expect results still baffles sane people.

Was their also a massive looting prio 1985 when Nigeria witnessed her first ever recession under the same man Buhari?

Buhari is synanimus to failure... please point out one possible positive contribution Buhari made after leaving office in 1985 after plunging us into our first ever recession, his second coming would usher us into yet another recession and educated fools like you would still look for excuses to justify his failure.

Every morning we hear huge figures of money stolen, recovered or withheld, evidences of loots, she stole, he stole, they stole yet nobody I MEAN NOBODY is convicted and sent to jail...so, what exactly is the anti-corruption noise about?

Sadly, educated people like you chose to be fooled by a gworo chewing kunu sipping illiterate daura bastard.

Of what importance is education if you can't tell if someone is deceiving you?

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.

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.

cooljude:
Yes the past government was wasteful and that was why they lost the election. You made promises of changing things and making them better, well let's leave that for Nigerians to decide.
This government has spent close to two years in office and they've not delivered on their promises or agenda in short they are making things worse with unnecessary policies causing uncertainty and panic in the system. I don't care about political parties, all Nigerians want are basic amenities and things that would make our life improved.
I know that you are writing to defend your paycheck and stomach but you and others like you are the biggest problem, supporting very useless governments and policies even though you could see the negative effect of such policies around you.
Why would a president wait till 6 months to choose his cabinet, worse still this is one of the most inexperienced, unqualified, and outrageous cabinet ever, If you want to copy China policy of Mao's time, you should also provide the zeal to educate the masses and actually invest on internal industrialisation, if you are controlling FOREX and the use of foreign products, why not be a beacon and rather improve our health sector so that he wouldn't have to travel for medical tourism thereby saving our foreign exchange and boosting the confidence of our local health sector.
As I said earlier, I don't care about any party but it pains me when people like you would call *A* *H*.

PassingShot:
It means you didn't read the article.

The situation is all about cause and effect. You can't sow beans and harvest yam. It can't happen.

Nukualofa:
I refuse to address anything there because it will be futility on my own part because you have been wired to believed anything this government feeds you



Go check Boxer in George Orwell Animal Farm and you will see that you are no different from him.



I'd rather call you out until this thread ends in a trash can



Nonsense

PassingShot:
My cubicle office can make me employ you on salary of more than N100k monthly.

You need job? Send your CV to passingshot@gmail.com

PassingShot:
TonyeBarcanista and his crew, I need you guys here. Let's argue!

wirinet:
The bolded statement betrays your age. Obviously, you know nothing of the massive looting that took place under the Shagari administration. 1983 and 2015 shares many parallels. Both the Shagari and Jonathan administrations supervised massive looting of the treasury despite record oil prices. The both almost bankrupted the nation due to massive borrowings. Immediately Buhari took over oil prices crashed, leading to huge foreign exchange scarcity.

You wailers should thank your stars that Jonathan (and madam world bank) was not president when oil prices remained in the 30s for several months. You people would have known the real meaning of economic recession

PassingShot:
It means you didn't read the article.

The situation is all about cause and effect. You can't sow beans and harvest yam. It can't happen.

soldierdollar:
All hail Buhari
The best president Nigeria ever had
The past administration looted
Your economic policies are superb .
You've created millions of jobs within the last 2 years
You stabilized naira and equated it to dollar
Oh How steady our power supply is
How cheap goods and services have become
You've prosecuted and sacked ministers indicted of corruption
You banned public office holders from receiving medical treatment abroad
You've diversified our economy by exploring oil in the north
All hail Buhari . He spoke with Trump . He's indeed a god.