₦airaland Forum

Kennydoc:
Jonathan 'squandered' the foreign reserves in maintaining our exchange rate, and that's why life was easy for Nigerians. What do you think would have happened to Nigeria by now if Buhari maintained exchange rate where Jonathan left it? Let's not also forget about fuel subsidy and the price at which petrol sold under Jonathan. Those are all contributory factors. Also, remember Buhari has borrowed more in 3 years than PDP's 16 years borrowing.

989900:
What was shared was the ECA; not the reserves.

seunmsg:
It was not an achievement while government was building it up. Now that it's going down, Buhari must take the stick for it. Why are you wailers like this?




Crude oil sold averagely for over $100 all through Jonathan's government and not a single kobo was added to the foreign reserve. Instead, what he inherited from Yat'adua were squandered. Buhari met the reserve at around $30billion and has build it up to over $45billion despite oil averaging at around $50 for the past three years but Buhari is the problem. Again I ask, why are you wailers like this?

sanpipita:
Did you read before replying that, did I say it was foreign reserves that was shared, I simply said money was shared through persuasion of then opposition who are now claiming GEJ didn't save

Buterflyle0:
PMB met oil prices crashing to a meager $25 pb at a time but he still was able to ensure he gave states their bail out funds from it and never owed. He still had enough to clear debts in NNPC and commence payments for contracts GEJ awarded on paper with zero funding.

GEJ had oil prices at $130pb at a point yet before he left he rendered about 30 states bankrupt and unable to pay salaries while he ended up borrowing to pay salaries with which is the height of buffoonery.

Great2017:
In 2015. a barrel of crude oil was sold for an average of $49. Stop peddling lies.

989900:
Foreign reserves is the subject matter.

royal200:
But you said Jonathan spent all.. So where does the $30B comes from. Please check your record and tell me when u when last does crude oil average 50$/barrel..

Continue supporting what won't see Nigeria better.. One day your children will leave in same decay country.

IllegalMoney:
Buhari and his Cabal have looted Nigeria dry head of Election

Buterflyle0:
This is how I know I am talking to daft people. It is when they know nothing but act as if they know. People like you.

https://mobile.reuters.com/article/amp/idUSKCN0UT165

https://m.economictimes.com/markets/commodities/oil-prices-may-drop-to-25/barrel-moodys/amp_articleshow/51314544.cms

https://www.bbc.com/news/business-35245133

Great2017:
It is foolhardy of you to support your paymaster with articles for late 2015 and early 2016.
Are you not saying the price of crude oil as at May, 2015 when your paymaster came on board was $25 again? You can only deceive yourself.

Buterflyle0:


PMB met oil prices crashing to a meager $25 pb at a time but he still was able to ensure he gave states their bail out funds from it and never owed. He still had enough to clear debts in NNPC and commence payments for contracts GEJ awarded on paper with zero funding.

GEJ had oil prices at $130pb at a point yet before he left he rendered about 30 states bankrupt and unable to pay salaries while he ended up borrowing to pay salaries with which is the height of buffoonery

Buterflyle0:
Like I said, this is how I know I am chatting with daft people such as which you are.

This is my post below which you hurriedly responded to earlier without making any effort to understand what you read.




Those 2 words in red should have let you know I was not referring to may 2015.

Dummy wailer.

Great2017:
Like I said, you can only deceive yourself with crude oil selling at $25 at a time when what is more important is its average price. Is crude still selling at $25 now? Try and paint the true picture and stop deceiving yourself.

SanusiGworo:
Thieves in Power

seunmsg:
It was not an achievement while government was building it up. Now that it's going down, Buhari must take the stick for it. Why are you wailers like this?




Crude oil sold averagely for over $100 all through Jonathan's government and not a single kobo was added to the foreign reserve. Instead, what he inherited from Yat'adua were squandered. Buhari met the reserve at around $30billion and has build it up to over $45billion despite oil averaging at around $50 for the past three years but Buhari is the problem. Again I ask, why are you wailers like this?

Buterflyle0:
You are actually deceiving yourself by deliberately choosing to remain daft.

When I used the expression CRASHING it showed it wasn't so before and where in my comment did I indicate it remained so?

Even at the highest it is now which is $70 it still is about half what it was at a time during GEJs tenure which was $130pb in 2014 and stayed that high for almost a year before it began crashing and ended up as low as $25 in 2016

Mumu wailer.

Great2017:
If you have any sense left in you, your campaign should have been on the improvement on healthcare , agriculture, road, transportation, housing, education, telecommunication, power, employment, water and the economy since 2015 and not Jonathan.

Buterflyle0:
If you had any sense in you, you would not have shown your daft nature by challenging the truth which I declared and called it lies.

Also you would not have attempted to now try to shift goalposts to agric, telecoms etc. This is not the thread for that.

Open a thread and invite me and let's tackle those.

Great2017:
Stop deceiving yourself with the $25 crude oil price at a time and Jonathan. They are stale. Obama since left office and Trump doesn't use him as his performance bench mark. Tell us the improvement in the real sectors of the economy since 2015 when Buhari became the CEO of Nigeria. Those are the things that affect the lives of an average Nigerian.
I am not a pay/thread sycophant like you. But I will keep exposing your mischief so that your evil agenda will be defeated.

Buterflyle0:
Pmb till 2023 get used to this already so you would not develop undue high blood pressure.

Open a thread here on the issued you listed and invite me and let me school you on them since you have chosen to suffer from self inflicted myopia

Great2017:
You can only deceive your kind with your propaganda and I am light years above your dilusion. I will keep exposing your evil agenda until you run out of steam. The least good Nigerians require of our leaders is good governance that is visible and not Jonathan. I hope this would reform your mindset.

Buterflyle0:
Oga open the thread I asked you to and invite me . can you not do something that simple? If its to run your mouth cho cho cho with beer parlour gossip they would find you in front. Now do something actually intelligent and you are running.

Open the thread

theoldpretender:
1.We can't fund our budget at $50....we need oil to be at $140 per barrel.(Saudi can't fund its budget at $50...and they produce more oil than we do).

2.N8 trillion is not enough for Nigeria. (A fellow Nairalander on another thread even put it that a budget of N9 trillion amounts to N45000 per Nigerian).

3.For instance, university education alone needs N1.5 trillion in extra...EXTRA....funding to keep FEDERAL universites at an even keel (according to the 2009 ASUU fg agreement). This year we spent N800bn on education...ie all sectors including university...alone.

4.As Fitch puts it we need oil to be at $140 ..ie our breakeven price...which is the price we need oil to be at to meet spending demands, and balance the budget. $50 would leave us needing to borrow excessively just to stay afloat (In short...we hand over our economy to the IMF to run for us....).

5.And yes...we need to fight corruption as well. The stealing is bad because it is from a treasury that is already impoverished.

6.China is the world's lender...because in the late 1970's they made the decison to go industrial...and to become more capitalist. South Korea ,and Japan too made that decison...

7.The only rich oil producers are countries like Saudi and Norway and the UAE which have small populations, and in Norway's case...are industrialised nations as well.

theoldpretender:
In response....

Nigeria needs oil to be at $140 per barrel for us not to borrow.

The $45 you mention does not make sense...and even IF there was no corruption....we would still be borrowing.

Here is a list of countries's breakeven oil prices, according to global ratings company Fitch (as at 2017)

Nigeria at $139
Bahrain at $84
Angola at $82
Oman at $75
Saudi Arabia at $74
Russia at $72
Kazakhstan at $71
Gabon at $66
Azerbaijan at $66
Iraq at $61
Abu Dhabi, United Arab Emirates, at $60
Republic of Congo at $52
Qatar at $51
Kuwait at $45

Sauce

OreMI22:
[s][/s]

Bloody liars!

Even if oil is at $50,000 per barrel, Buhari will still ask for $200, 000 for him not to steal.

Again, what has Buhari built in Nigeria with average oil price at $75 dollars? WHY HAS BUHARI CONTINUED TO ACCUMULATE UNSUSTAINABLE FOREIGN DEBTS?
who will pay back these debts?