arewafederation:


My friend, check your facts before advertising your ignorance online.
Ngozi first became minister in 2003 -2006 and price of crude was between 30$ - 65$.

During the global financial meltdown 2008/09, Ngozi was no where close to Nigeria's treasury else, it would have been a disaster... The actors then were Sanusi Lamido(CBN gov) and Shamsudeen Usman (Min of finance).... She was later called to serve (Supervise the highest loot of the nations resources in history) between 2010-2015 when oil price was at an all time high. You can please check Nigeria's debt profile for that period.

It's, thank me

Stop defending a criminal, did oil price make kemi go into forgery to survive economically. So with your tiny mind in a third world country sunk in debt and corruption, feel you know better than international billion dollar organizations that want NOI on their board?

Why didn't oando complain under NOI?

arewafederation:


My friend, check your facts before advertising your ignorance online.
Ngozi first became minister in 2003 -2006 and price of crude was between 30$ - 65$.

During the global financial meltdown 2008/09, Ngozi was no where close to Nigeria's treasury else, it would have been a disaster... The actors then were Sanusi Lamido(CBN gov) and Shamsudeen Usman (Min of finance).... She was later called to serve (Supervise the highest loot of the nations resources in history) between 2010-2015 when oil price was at an all time high. You can please check Nigeria's debt profile for that period.

It's, thank me

Did you acknowledge the fact that oil price was between $30=$65? Please tell the world the price of oil price between 2015-2018. Mind you she brought debt relief.

Okonjo borrowed $10 billion in 6 years under Jonathan, while Kemi has borrowed $37 billion in just three years.

kernel001:



Did you acknowledge the fact that oil price was between $30=$65? Please tell the world the price of oil price between 2015-2018. Mind you she brought debt relief.

Okonjo borrowed $10 billion in 6 years under Jonathan, while Kemi has borrowed $37 billion in just three years.

Why did she borrow at all in a regime that was selling crude at $100/barrel?
Did the borrowing not occur alongside running down the foreign reserves and other government savings?


So why are you then surprised that another regime that met crude oil falling from $50/barrel to as low as $27/barrel, would not borrow more since Okonjo and Jonathan had already made sure to finish all of the savings with the foreign reserves already gasping for breath.

You want to compare oil revenue at $100/barrel to oil revenue at $27/barrel?


If Okonjo Iweala met oil at $65/barrel during her first stint from 2003 to 2006, was that not a good growth she met, considering that was a very good rise in oil prices at that time, having been less that $20/barrel in 1999 when Adamu Ciroma was Finance Minister?

How do you then compare that to Adeosun who had to work with $50/barrel slumping to $27/barrel in 2016, when it was a decline from a previous steady high of $100/barrel from 2010 to 2014?

So how do you compare someone who met an oil price in ascendance to someone who met it in free fall from a very high peak?


What exactly did Okonjo Iweala achieve with Crude Oil selling at $100/barrel from 2011 to 2014, before the oil price decline started?

What did the Jonathan regime achieve with Crude Oil selling at $100/barrel from 2010 to 2014, before the decline?

Where did all the previous inherited foreign reserves go to?

How come previous regimes who did not earn half of what Jonathan and Iweala earned from oil sales, were able to save more and build up the foreign reserves, only to have those ones run all dry despite the immense oil revenue during their wasteful tenure?

Throwback:



Why did she borrow at all in a regime that was selling crude at $100/barrel?
Did the borrowing not occur alongside running down the foreign reserves and other government savings?


So why are you then surprised that another regime that met crude oil falling from $50/barrel to as low as $27/barrel, would not borrow more since Okonjo and Jonathan had already made sure to finish all of the savings with the foreign reserves already gasping for breath.

You want to compare oil revenue at $100/barrel to oil revenue at $27/barrel?

Wait... So because Lagos enjoys large revenue, it shouldn't borrow to improve the state we're needed? Chai! Dubai could borrow to enable her get a vision done, same with America in the face of trillion dollar budget.

kernel001:



Wait... So because Lagos enjoys large revenue, it shouldn't borrow to improve the state we're needed? Chai! Dubai could borrow to enable her get a vision done, same with America in the face of trillion dollar budget.

Then you can see you are just blabbing by comparing borrowing at a time when government revenue is low, to borrowing at a time government revenue was very high.

Jonathan and Okonjo Iweala inherited a sound economy and savings and foreign reserves.

Please tell what manner of economy they handed over to Buhari and Adeosun?


Should we start with the debt factor?
Should we start with the foreign reserves factor?
Should we start with the savings and ECA factor?
Should we start with the oil price factor?

Are you ready to talk facts figures and statistics, as opposed to the emotional history that you have shown you do not even know about, considering you do not even know what exact periods that Okonjo Iweala was in office as Finance Minister during the Obasanjo regime and Jonathan regime?

mekaboy:


She did all this and the opposition APC has found nothing on her, and their own kemi was caught in the act. Lol

NOI Is not a thief, but she allowed thieves to have access to our treasury freely. She was JUST, INCOMPETENT.

kernel001:

Which is wiser? Kemi borrowed more for unseen projects, if you know one, mention it.

Most of Kemis borrowings are not cash, but financing projects. Check all the detais of the loans signed, you will see it for yourself, not CASH to pay SALARIES, or give it to DASUKI （PDP）ATM Machine.

F

Throwback:



Why did she borrow at all in a regime that was selling crude at $100/barrel?
Did the borrowing not occur alongside running down the foreign reserves and other government savings?


So why are you then surprised that another regime that met crude oil falling from $50/barrel to as low as $27/barrel, would not borrow more since Okonjo and Jonathan had already made sure to finish all of the savings with the foreign reserves already gasping for breath.

You want to compare oil revenue at $100/barrel to oil revenue at $27/barrel?


If Okonjo Iweala met oil at $65/barrel during her first stint from 2003 to 2006, was that not a good growth she met, considering that was a very good rise in oil prices at that time, having been less that $20/barrel in 1999 when Adamu Ciroma was Finance Minister?

How do you then compare that to Adeosun who had to work with $50/barrel slumping to $27/barrel in 2016, when it was a decline from a previous steady high of $100/barrel from 2010 to 2014?

So how do you compare someone who met an oil price in ascendance to someone who met it in free fall from a very high peak?


What exactly did Okonjo Iweala achieve with Crude Oil selling at $100/barrel from 2011 to 2014, before the oil price decline started?

What did the Jonathan regime achieve with Crude Oil selling at $100/barrel from 2010 to 2014, before the decline?

Where did all the previous inherited foreign reserves go to?

How come previous regimes who did not earn half of what Jonathan and Iweala earned from oil sales, were able to save more and build up the foreign reserves, only to have those ones run all dry despite the immense oil revenue during their wasteful tenure?

Kemi borrowed to pay ransom. How come we became the world capital of poverty with all her borrowing. Buhari was challenged to list projects he started and completed.

Over 10 Million jobs lost with the borrowing. Didn't APC governors refuse saving advice given by NO I?

godox2:


NOI Is not a thief, but she allowed thieves to have access to our treasury freely. She was JUST, INCOMPETENT.

Yes I guess she did that by the introduction of BVN, .biometric verification of workers to clear ghost workers and attempted to stop subsidy payment that buhari is paying more today via the back door. Even TSA, all these were her ideas. What did keno bring onboard apart from forgery?

kernel001:



Wait... So because Lagos enjoys large revenue, it shouldn't borrow to improve the state we're needed? Chai! Dubai could borrow to enable her get a vision done, same with America in the face of trillion dollar budget.

Are you for real？Borrowing to PAY SALARIES, is for DEVELOPMENT in your Ecnomics during GEJ and NOI？
C H A IIIIIII！！！！

godox2:


Most of Kemis borrowings are not cash, but financing projects. Check all the detais of the loans signed, you will see it for yourself, not CASH to pay SALARIES, or give it to DASUKI （PDP）ATM Machine.

I asked you to mention or show us the site of one of those invisible projects.

mekaboy:


Yes I guess she did that by the introduction of BVN, .biometric verification of workers to clear ghost workers and attempted to stop subsidy payment that buhari is paying more today via the back door. Even TSA, all these were her ideas. What did keno bring onboard apart from forgery?

What stops her from implementing and enforcing those Ideas？It took PMB and Kemi few months to implement and enforce, even giving date line, infact, KUDOS to Kemi and PMB, They have the courage to take TOUGH Decisions unlike your GEJ and NOI awards gatherer.

Throwback:



Then you can see you are just blabbing by comparing borrowing at a time when government revenue is low, to borrowing at a time government revenue was very high.

Jonathan and Okonjo Iweala inherited a sound economy and savings and foreign reserves.

Please tell what manner of economy they handed over to Buhari and Adeosun?


Should we start with the debt factor?
Should we start with the foreign reserves factor?
Should we start with the savings and ECA factor?
Should we start with the oil price factor?

Are you ready to talk facts figures and statistics, as opposed to the emotional history that you have shown you do not even know about, considering you do not even know what exact periods that Okonjo Iweala was in office as Finance Minister during the Obasanjo regime and Jonathan regime?

I understand you're better schoolled in economics more than World Bank, Bill Gates Foundation as well as Twitter. You can take your hate to those establishments.

mekaboy:


Stop defending a criminal, did oil price make kemi go into forgery to survive economically. So with your tiny mind in a third world country sunk in debt and corruption, feel you know better than international billion dollar organizations that want NOI on their board?

Why didn't oando complain under NOI?

I'm not defending anybody here. I have a fair share of respect for both ladies, but NOI was a disaster.

How do you compare someone who supervised a full blown depletion of the foreign reserve, borrowed to pay salaries when oil was $65, to a rare breed who not only increase the reserves by 80% but was able to pay salaries with oil selling for as low as $28 with reduced volume, no thanks to ND militants?

Maka why? Why don't you have even small sense to reason this through?

See

kernel001:


I understand you're better schoolled in economics more than World Bank, Bill Gates Foundation as well as Twitter. You can take your hate to those establishments.

Oga, you want to run away?

kernel001:


I understand you're better schoolled in economics more than World Bank, Bill Gates Foundation as well as Twitter. You can take your hate to those establishments.

So that I mention facts and figures and statistics is hate?

Just admit you are an empty head who does not even know common recent history.

godox2:


What stops her from implementing and enforcing those Ideas？It took PMB and Kemi few months to implement and enforce, even giving date line, infact, KUDOS to Kemi and PMB, They have the courage to take TOUGH Decisions unlike your GEJ and NOI awards gatherer.

She did the ones she could with the available time. The TSA is not what you implement in a hurry, that is what cost millions of job losses in the banking sector making Nigerians poorer. But the one without a certificate and the one with a forged one does not know this.

arewafederation:
See


Oga, you want to run away?

Don't mind the emotional empty head.

I have tabled facts and statistics, he has blabbed and blabbed and even helped to defeat his own argument.

Now he has gone emotional and unable to present his own facts to show us how Adeosun put us in a recession without a global meltdown, as though the oil price slump that has ruined many countries' economy is a global tea party.

He has been unable to show us how Okonjo Iweala helped to manage any global financial crisis that never happened during any of her stints, except for the oil price slump that saw her borrowing to pay civil servant salaries after already running down all government savings and dwindling the foreign reserves she inherited at a time government was making so much crude oil revenue never before made in the history of Nigerian oil production.

mekaboy:
F

Kemi borrowed to pay ransom. How come we became the world capital of poverty with all her borrowing. Buhari was challenged to list projects he started and completed.

Over 10 Million jobs lost with the borrowing. Didn't APC governors refuse saving advice given by NO I?

Enough with this APC governors rubbish.

When was APC formed? Which party had the majority governors from 2011 to 2014?

Which party formed the leadership of the Nigerian Governors Forum?

Why was Okonjo Iweala making illegal withdrawals from the ECA without FAAC approval?

Were the governors (PDP, APC, APGA) not right in saying that the FG was holding on to the ECA funds while already spending out of it without their own approvals?

Was it the ECA savings that was being shared that made the Foreign Reserves drop from $47b in 2010 to $29b/$30b in 2015?

Was it the ECA sharing that made a government that was selling crude at $100/barrel from 2010 to 2014, to borrow billions of dollars during same period.

What did the regime of Jonathan have to show for all the oil revenue, ECA sharing, Foreign Reserves plundering, and borrowing?

Is it the almajiri schools, the new federal universities and 2nd hand trains that gulped all of these funds, minus the sum dedicated to the blessed ATM Dasuki?



Image credit to loannes.

Throwback:



Don't mind the emotional empty head.

I have tabled facts and statistics, he has blabbed and blabbed and even helped to defeat his own argument.

Now he has gone emotional and unable to present his own facts to show us how Adeosun put us in a recession without a global meltdown, as though the oil price slump that has ruined many countries' economy is a global tea party.

He has been unable to show us how Okonjo Iweala helped to manage any global financial crisis that never happened during any of her stints, except for the oil price slump that saw her borrowing to pay civil servant salaries after already running down all government savings and dwindling the foreign reserves she inherited at a time government was making so much crude oil revenue never before made in the history of Nigerian oil production.

Too many emotional blockheads here.

These are the type of women that use their feminism to rise to the top rather than the stuff they are made off. I dont know which godfather pushed her up there.

Ngozi SHOULD provide her own let see,who NTSC certificate HELP.

Kemi Adeosun was just a middle level accountant. https://www.naijiant.com/beer-parlour-gist/kemi-adeosun-best-middle-level-accountant/

Haahaha OP has abandoned his own thread.

They have used hard facts to slap his soul spirit and body

Throwback:
[s]



Okonko Iweala was minister of Finance from 2003 to 2006, when she was removed from Finance to External affairs.

There was no global meltdown during Iweala's tenure, so learn history before you speak rubbish. Rather, she used a period of immense oil revenue that should have improved government savings to pile up debt and run down all government savings. Then later warn us that recession is coming.


Most of the $12b we paid back to Paris club was already saved up during the tenure of Mallam Adamu Ciroma, who was Finance Minister in Obasanjo's 1st term.

Okonjo Iweala has always been a spender and she did not save even 1kobo during her 4 year stint with the Johnathan administration from 2011 to 2015. Rather she increased the debt profile at a time Nigeria earned its highest revenue from oil.

In fact, because crude oil prices had only fallen below $60/barrel just 7months after it had been selling for over $100/barrel since her tenure with the Johnathan regime began in 2011, yet she was already on a borrowing spree to the tune of N470 ($3b then) to pay February, March and April 2015 salaries as revealed by herself.


What did Okonjo Iweala do with all the oil revenue during her tenure when our oil income was 51% of all the oil revenue Nigeria had earned since 1956?

How did our Foreign Reserves drop from $47b in 2010 to $29b/30b in 2015, despite earning more from oil which accounts for over 90% of our foreign reserves, when compared to what was earned by the previous governments of OBJ and Yar'Adua who were able to save more with oil selling at half the price that it sold under Jonathan.

How come the Jonathan government when Iweala was minister of Finance, did not pay the FG share of counterpart funding for JV oil projects totalling over $5b? This resulted in many planned oil development projects being abandoned by the oil firms and leading to lots of job losses in the oil industry and support industries from late 2014 onwards when the oil price crises began gathering storm.

So with Okonjo Iweala during the Jonathan regime, we did not save, we did not pay FG share of counterpart funding, we did not invest in diversifying our economy, we bought 2nd hand trains and overpriced and malfunctioning military equipment, we gave import waivers to government cronies, we over bloated our oil subsidy scheme, we ran down the foreign reserves and all other government savings, she made withdrawals from ECA without approval from FAAC and is on record to have lied about it so many times before finally admitting when Gov Adams Oshiomhole will not let her tell lies peacefully, we borrowed so much, then equipped the blessed ATM Dasuki to be vending out unbudgeted security funds without requiring security PIN.

Embarrassingly, she as Finance Minister had no idea that the NNPC was short changing the FG, and only woke up to her responsibilities when the CBN governor made allegations that about $20b that should accrue to the federal purse from oil sales is missing. Only then did Okonjo Iweala come up with her own calculations that indeed money that should accrue did not, but it was a lesser amount of $10b.

Imagine a Finance Minister who had no clue of missing government revenue. What then was the benefit of her superior education?


All of these were done without any tangible infrastructure to show for all the money spent. Except casual warnings of an impending recession by the very person who should have worked a solution.

That was Okonjo Iweala's legacy as Finance Minister from 2011 - 2015[/s].

Kindly forward this to Twitter, Standard Chartered, Gavi, Lazard, and ANC.

I've debated this pile of hogwash two years ago and can't be ass*d to do so again when no one except fellow BMC propagandists take it seriously anymore. NOI keeps winning. GEJ appointees keep winning. And a thousand wannabes with forged certificates and a million zombies still harping on regurgitated expired propaganda won't change nada.

Premiumtimes hit piece caused Adeosun's sack. Now can you write any credible international medium that'd lead to NOI's sack from her engagements with Twitter, Standard Chartered, Lazard and others?

Didn't think so. Rants of a confused nobody.

Adeosun is a riff-raff compared to NOI. Class is permanent. Remember that!

-Lord

arewafederation:


I'm not defending anybody here. I have a fair share of respect for both ladies, but NOI was a disaster.

How do you compare someone who supervised a full blown depletion of the foreign reserve, borrowed to pay salaries when oil was $65, to a rare breed who not only increase the reserves by 80% but was able to pay salaries with oil selling for as low as $28 with reduced volume, no thanks to ND militants?

Maka why? Why don't you have even small sense to reason this through?

Increased reserves in.a crashed economy. With higher inflation and unemployment. Under kemi Nigerians became extremely poor while debt keeps rising.

How has the increased reserves impacted the life of the average Nigerian?

Increase reserves and borrow more?
Kemi is not just a disaster but a fraud.

Throwback:




Okonko Iweala was minister of Finance from 2003 to 2006, when she was removed from Finance to External affairs.

There was no global meltdown during Iweala's tenure, so learn history before you speak rubbish. Rather, she used a period of immense oil revenue that should have improved government savings to pile up debt and run down all government savings. Then later warn us that recession is coming.


Most of the $12b we paid back to Paris club was already saved up during the tenure of Mallam Adamu Ciroma, who was Finance Minister in Obasanjo's 1st term.

Okonjo Iweala has always been a spender and she did not save even 1kobo during her 4 year stint with the Johnathan administration from 2011 to 2015. Rather she increased the debt profile at a time Nigeria earned its highest revenue from oil.

In fact, because crude oil prices had only fallen below $60/barrel just 7months after it had been selling for over $100/barrel since her tenure with the Johnathan regime began in 2011, yet she was already on a borrowing spree to the tune of N470 ($3b then) to pay February, March and April 2015 salaries as revealed by herself.


What did Okonjo Iweala do with all the oil revenue during her tenure when our oil income was 51% of all the oil revenue Nigeria had earned since 1956?

How did our Foreign Reserves drop from $47b in 2010 to $29b/30b in 2015, despite earning more from oil which accounts for over 90% of our foreign reserves, when compared to what was earned by the previous governments of OBJ and Yar'Adua who were able to save more with oil selling at half the price that it sold under Jonathan.

How come the Jonathan government when Iweala was minister of Finance, did not pay the FG share of counterpart funding for JV oil projects totalling over $5b? This resulted in many planned oil development projects being abandoned by the oil firms and leading to lots of job losses in the oil industry and support industries from late 2014 onwards when the oil price crises began gathering storm.

So with Okonjo Iweala during the Jonathan regime, we did not save, we did not pay FG share of counterpart funding, we did not invest in diversifying our economy, we bought 2nd hand trains and overpriced and malfunctioning military equipment, we gave import waivers to government cronies, we over bloated our oil subsidy scheme, we ran down the foreign reserves and all other government savings, she made withdrawals from ECA without approval from FAAC and is on record to have lied about it so many times before finally admitting when Gov Adams Oshiomhole will not let her tell lies peacefully, we borrowed so much, then equipped the blessed ATM Dasuki to be vending out unbudgeted security funds without requiring security PIN.

Embarrassingly, she as Finance Minister had no idea that the NNPC was short changing the FG, and only woke up to her responsibilities when the CBN governor made allegations that about $20b that should accrue to the federal purse from oil sales is missing. Only then did Okonjo Iweala come up with her own calculations that indeed money that should accrue did not, but it was a lesser amount of $10b.

Imagine a Finance Minister who had no clue of missing government revenue. What then was the benefit of her superior education?


All of these were done without any tangible infrastructure to show for all the money spent. Except casual warnings of an impending recession by the very person who should have worked a solution.

That was Okonjo Iweala's legacy as Finance Minister from 2011 - 2015.

you deserve one million likes.

GEJ really had a lot of cash to write his name in Gold as the greatest president/head of state Nigeria has from 1960-2015,but he totally messed up

Op don't try this nonsense again.

Madam Oluwole can't even measure up with Peter Obi, National Economic Adviser to Jonathan and Chairman SECOND talk more of Prof Soludo and dear NOI.

It is a pity yoruba's best can't measure up to Peter Obi.

vedaxcool:
[s][/s]

$10b in the midst of high oil prices. Abeg when do you plan to start thinking

The liepods are too dishonest for my liking.

OfficialAPCNig:
Op don't try this nonsense again.

Madam Oluwole can't even measure up with Peter Obi, National Economic Adviser to Jonathan and Chairman SECOND talk more of Prof Soludo and dear NOI.

It is a pity yoruba's best can't measure up to Peter Obi.

From the beginning, I apologized for the inappropriate comparison. I know it's wrong, but I am happy that the difference is clear today.

I would not say the world now knows the difference because the world knew NOI's long before now. I think Nigerians are just getting to find out.

The funny part is that NOI saw the dangers ahead of time, warned the governors to save, they refused and share the money because they wanted to fund the campaign and elections of one without a certificate. They brought in the one without certificate, who then brought in one with a forged certificate, then they together ruined the economy completely.

Today the one without certificate has fired the one with forged certificate.

If this is not KARMA, I wonder what is.

LordAdam:


Kindly forward this to Twitter, Standard Chartered, Gavi, Lazard, and ANC.

I've debated this pile of hogwash two years ago and can't be ass*d to do so again when no one except fellow BMC propagandists take it seriously anymore. NOI keeps winning. GEJ appointees keep winning. And a thousand wannabes with forged certificates and a million zombies still harping on regurgitated expired propaganda won't change nada.

Premiumtimes hit piece caused Adeosun's sack. Now can you write any credible international medium that'd lead to NOI's sack from her engagements with Twitter, Standard Chartered, Lazard and others?

Didn't think so. Rants of a confused nobody.

Adeosun is a riff-raff compared to NOI. Class is permanent. Remember that!

-Lord

Who is talking about class when we are talking about a minister who was shouting that recession is coming but was doing everything to ensure that recession did come?

Or is Adeosun to blame that the FG of Jonathan was owing over $5b in counterpart funding for JV oil projects?

Or is it Adeosun that made the Jonathan regime run down the ECA including the illegal withdrawals by Okonjo Iweala that she later admitted?

Is it Buhari that made a regime that inherited foreign reserves of $47b and crude oil price selling at over $100/barrel, to run down the reserves to $29b/$30b despite the immense petrol dollar earned within same period?

Is it propaganda that Jonathan and Okonjo Iweala, ran down government savings rather than build on what they inherited? Or are verifiable statistics propaganda?

Is it Adeosun that was giving import waivers to cronies and signing off unbudgeted funds to the blessed ATM Dasuki?

We are talking of the state of our economy, yet you are rejoicing in a resignation and gloating that someone else cannot be sacked?

Is twitter feeding the Nigerians that started losing jobs in the oil sector from late 2014?

Did standard chartered pay the FG counterpart funding for oil projects that Okonjo Iweala did not pay throughout her regime despite the oil revenue made?

Did your somebody status stop the nobody electorate from sacking Jonathan?

If class was permanent, why didn't Okonjo Iweala try to keep the debt profile, the foreign reserves and government savings and price of commodities permanent at the value she met them in 2011?

Despite the immense income, everything nose dived while the only things that went up were government debt and prices of commodities.