Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous (1583 Views)
EMT: Osinbajo’s Position As VP Has Become Totally Irrelevant – Afenifere / Moghalu Attacks Osinbajo, Asks Nigerians To Reject Tribalism / Goodluck Jonathan Attacks Osinbajo, Says He Has 'Leprous Fingers' (2) (3) (4)
| Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Ebullience(m): 5:09pm On Nov 13, 2018 |
Former President, Goodluck Jonathan has reacted to claims by Vice President, Prof. Yemi Osinbajo that he left Nigeria with debt and ruined the economy due to the alleged corruption under his watch. The Vice President had during a lecture entitled, “Restructuring and the Nigerian federation,” delivered as part of activities marking the 40th anniversary of Association of Friends in Lagos yesterday, accused the immediate past government of President Goodluck Jonathan, of throwing Nigeria into untold hardship, recession and debt. But reacting in a statement made available to DAILY POST by Reno Omokri (for Dr. Goodluck Jonathan), the former President wondered why Osinbajo, who, according to him, was recently indicted by the House of Representatives for an alleged worse corruption in Nigeria, should point accusing fingers at him(Jonathan). The statement continues, “My attention has been drawn to regurgitated and discredited allegations by Vice President Yemi Osinbajo blaming former President Jonathan of saddling Nigeria with debt and ruining the economy by the alleged corruption of his administration. “How can Vice President Osinbajo, a man who had just been indicted by the House of Representatives in one of the biggest corruption scams ever in Nigeria’s history, have the gall to point accusing fingers on Dr. Jonathan, a man that is celebrated internationally for his efforts at achieving Nigeria’s best rating in Transparency International’s annual Corruption Perception Rating when Nigeria improved 8 paces from 144 to 136 in 2014? “Having read through the sordid details of Professor Osinbajo’s corruption as revealed in the indictment by Nigeria’s House of Representatives, it is easy to understand why Nigeria made her worst ever retrogression in Transparency International’s annual Corruption Perception under him this year, moving 11 paces backwards from 136 to 148. “On the issue of debt, the fact remains that in the entire 16 years that the Peoples Democratic Party governed Nigeria, the total amount of money borrowed was ₦8.06 trillion Naira. These are facts sourced directly from the budget office controlled by the Buhari administration. “However, in only 3 years, the All Progressives Congress-led administration of President Muhammadu Buhari has borrowed a total of ₦10 trillion Naira. With this fact in hand, where does Vice President Osinbajo have the moral authority to point leprous fingers at former President Jonathan? “The claim by Vice President Osinbajo that former President Jonathan left $$63 billion in debt is also a false claim. The Jonathan administration inherited $42.23 billion in debt in 2011 which were debts borrowed by the states and the Federal Government. “Throughout the five years that he was President, former President Jonathan incurred the wrath of several state governments because his administration refused to guarantee their foreign loans. “The reason that Nigeria’s debt has ballooned under this administration is because the Federal Government lacks the discipline that Jonathan had and are thus unable to curb borrowing by both the Federal Government and the states. “For example, on Tuesday, November 13, 2018, the Debt Management Office revealed that in just 2017 alone, the Buhari administration borrowed ₦2.4 trillion to fund their budget deficit. This is besides other loans that they took in 2017 alone. That money is more than the funds borrowed by the Jonathan administration in 5 years! “To show to Nigerians the profligacy and ineptitude of the current administration, I draw their attention to the fact that between July and August 2018, the Buhari administration claimed it had shared $322 million Abacha funds recovered by the Jonathan administration to the poor. Then a week after it made that announcement, the Buhari government borrowed $328 million from China. “The question is this, why would you share out $322 million one week only to borrow the same amount next week? Why not use the Abacha funds to fund government activities instead of adding to the already strained debt burden? “These are questions that Vice President Osinbajo should answer rather than making false allegations against former President Jonathan.” http://dailypost.ng/2018/11/13/corruption-allegations-goodluck-jonathan-attacks-osinbajo-says-vp-leprous-fingers/ 3 Likes
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| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by niskill: 5:18pm On Nov 13, 2018 |
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| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by NaijaRoyalty(m): 5:20pm On Nov 13, 2018 |
“How can Vice President Osinbajo, a man who had just been indicted by the House of Representatives in one of the biggest corruption scams ever in Nigeria’s history, have the gall to point accusing fingers on Dr. Jonathan, a man that is celebrated internationally for his eff  orts at achieving Nigeria’s best rating in Transparency International’s annual Corruption Perception Rating when Nigeria improved 8 paces from 144 to 136 in 2014?After reading the bolded statement, I dare say that osibanjo is a thief . In a sane clime , this lying criminal minded fake pastor , would be In jail. 6 Likes |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by alsudan: 5:20pm On Nov 13, 2018 |
The Leprous Osinbade that was only good enough for reading newspapers in 3.5 years, has been unleashed again during the elections. No man of dignity will suffer the humiliation the fake pastor has suffered as VP under the dullard and his cabal without honorably resigning. So not really surprised at his latest outburst. 2 Likes |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Olatunji1929: 5:20pm On Nov 13, 2018 |
G |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by saaron(m): 5:21pm On Nov 13, 2018 |
What do we expect from a gang of Recessionist? The way this rudderless regime blame GEJ, one will think GEJ had been in power since 1914. Complain and Blame game is the epitome of INCOMPETENCE. 3 Likes |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by BAILMONEY: 5:24pm On Nov 13, 2018 |
OSINBAJO IS AN EMBARRASSMENT TO CHRISTIANS ALL OVER THE WORLD 2 Likes |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by richidinho(m): 5:29pm On Nov 13, 2018 |
d 1 Like |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by bedspread: 5:30pm On Nov 13, 2018 |
Pastor Osinbajo should face the Job! And if He has dropped out of ideas he should Step down!! I have not seen a party anywhere in the world were the Ruling party is the blaming the opposition party Close to 4Years after taking over! I see it as a sign of Being in a position that is more than you... 3 Likes |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by gentlegenius(m): 5:31pm On Nov 13, 2018 |
Everyone around buhari must have one or two ways to prove to Nigerians that Buhari's government is the worst ever in the history of Nigeria. Corruption has gotten worse in this country under buhari, and to say that fighting corruption is the greatest achievement of this administration is an arrant insult on our sensibilities. Their only campaign strategy is telling us how corrupt Atiku is. But we the sane Nigerians know who is really corrupt. 1 Like
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| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by osazeeblue01: 5:33pm On Nov 13, 2018 |
Corruption is at high side since APC and Buhari came into power. 1 Like |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by saaron(m): 5:35pm On Nov 13, 2018 |
NaijaRoyalty:This buhari/Clone APC regime is the epitome of Corruption. |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Chemcrown: 5:36pm On Nov 13, 2018 |
NaijaRoyalty: But do you discover that in all the ranting of the person you quote, he never mention what Osinbanjo was indicted for. All na washhhhhhh. 2 Likes |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by fergie001: 5:43pm On Nov 13, 2018 |
Osinbajo is talking a lot very recently.... And as is known when you talk too much especially for an administration that is averse to the truth,you get involved and talk too much..you begin to swirm in the dance of shame.... I really don't blame him...he has been mandated by the Presidency to appeal to his homebase where the PDP might be making some entrance and with 2023 dangling before him..he must have been cautioned he isn't doing enough.....nothing surprising there... Like I will always say the position of VP is for "smiling,waving hands,and ethnic balancing",the man who calls the shots and signs all the documents is the No.1.....Osinbajo is simply saying what they want to hear... |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by ican2020: 5:48pm On Nov 13, 2018 |
banjo is a certified thief |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by jpphilips(m): 5:50pm On Nov 13, 2018 |
saaron: IS BUHARI TRULY RESPONSIBLE FOR OUR ECONOMIC WOES? A lot have been said about Buhari, how he brought hardship on Nigerians, how he is responsible for all the suffering in Nigeria, is that theory backed with facts and global economic realities or the shenanigans of few individuals basking in the Euphoria of ignorance? Since I must make a choice between our present loud political gladiators, I armed myself with Economics textbooks and news archive, here is what i discovered. Nigeria an oil producing and oil dependent economy suffered a global economic hit called crude oil price shock it is the sudden drop in price of crude oil in the commodity trading market, it has occurred at different times in History nearly every decade. Countries that are hardest hit by crude shock are basically countries that not only produce crude oil in significant amount but solely depend on it as their foreign exchange earner. While oil shocks have asymmetric effects in oil-exporting developing countries; lower oil prices lead to major revenue cuts and ensuing stagnation in the economy, but higher oil prices and accompanying higher revenues do not translate into sustained economic growth. What are the effects of crude shock in oil producing developing economies? Forex scarcity: Most developing economies whether oil producing or not, depend on importation to survive, where foreign currency becomes scarce, industries, individuals that have significant need for forex will likely close shops giving birth to the second problem unemployment then finally the master Recession. Unemployment: When industries no longer have forex to buy spare parts, can no longer afford raw materials, production slows, sales slows, profit eroded, workers sacked, since the volume of activities in the economy is directly proportional to the GDP, the GDP contracts and birth another economic monster Recession. Recession is a chain reaction of unpalatable economic events that shows the economy is not experiencing growth but contracting, lets look at the effects of recession, high energy cost (energy in most developing economies are subsidized one way or another) crude shock and eventually recession erodes government revenues till a point where it could no longer afford subsidies and other things it used to afford. In Nigeria where our Electricity Generation companies are subsidized, petroleum products are subsidized,you will understand that such partial or complete subsidy removal will quickly skyrocket the cost of living generally, transportation, cost of food etc are equally affected that leads to another monster called Inflation. Inflation: is defined as a phenomenon where huge bills are in search of few goods, how is that possible? when the industries that produce goods closed down, imports could not be sustained due to Forex shortages where will the goods come from? the absence of those goods while the bills remain triggers inflation, causes hunger and eventually poverty and devaluation of local currency. Devaluation is when global reserve currencies trade higher than your currency, of course you recall that an economy in crude shock first suffers Forex shortages, that robs the central bank (in the case of Nigeria) the ability to fix the currency at a reasonable exchange rate. The local currency is allowed to float along a band the cbn thinks may not be too hurtful on the economy. Forex ban is placed on certain commodities, debit cards like Visa, Mastercard et al are all placed on monthly transaction limits as a reflection of the reality of forex shortages. Okonjo iweala then finance minister and coordinator of the economy actually warned Nigerians in 2014 long before buhari came that the level of mismanagement will bring hunger to us, read here: https://www.premiumtimesng.com/business/171145-brace-tougher-times-ahead-okonjo-iweala-tells-nigerians.html If okonjo iweala saw this hunger in 2014, warned us about it, how can a sane person accuse buhari of bringing hardship? Between 2015-2017, all these happened in the Nigerian economy, then I asked "are we the only oil dependent economies in the world? why us alone? The answer took me to several countries in the world and I realized that other oil producing countries dont depend on oil alone, countries like Russia though the largest producer of crude oil in the world, has a robust defense industry that contribute significantly to its GDP, Russia equally enjoys large market shares in Gas distribution in Eurasia, by the time crude oil shock hit, Russia had over $400b in reserves, It became clear that the only economic move that could hold off crude oil shock and other global economic shocks is a robust foreign exchange reserves (Savings). Permit me to take you down our economic history, in 2008 during the global melt down, the then CBN governor prof. Chukwuma Charles soludo bragged that the Nigerian economy is immune to global shocks? That would have sounded ridiculous but it is true, what did he do? they launched an economic strategy called National Economic Empowerment And Development Strategy NEEDS. This strategy recommended that once crude oil is sold, the balance above the budget benchmark is kept in an account called the ECA, by the time that government left and another took over in 2007, both the ECA & Foreign reserve account held over $68b in reserves, in a $200b economy at the time, that reserve was significant enough to whither any storm that came the way of our economy, Much later into the crisis, Nigeria later relaxed its exchange rate to 155 to a dollar. now we know that Nigeria had in the past stood resilience in the face of global shocks with a culture of Savings. Global economic meltdown is worse than crude shock because in a meltdown, major economies are affected, capital flight becomes common in developing economies, crude oil customers reduce demand thereby pushing prices lower, the saddest part is that no country has money to borrow anyone during global meltdown, yet Nigeria Survived it with Soludo's brilliant strategy. A strategy that was blatantly refused by the previous administration when suggested by Iweala, recall that Iweala worked with Soludo in that NEEDS team. Fast forward to 2015, Three out of the top four producers of crude oil in Africa by their production, Nigeria, Angola, Algeria and Egypt were all in recession even though Egypt does not significantly depend on oil but her economy was shattered. Algeria escaped recession because by 2014, just like Nigeria in 2008, Algeria had a foreign reserve balance of $90b in a $156.1b economy (57% of GDP in savings).You can see that the Robust reserve of Algeria was their savior in this modern crude oil shock era. The previous administration in Nigeria boasted of leaving behind a paltry $19b for a $500b economy at the time (3.8% of GDP), that amount is not even enough to pay for imports let alone absorb global shocks, so Nigeria can be rightly described in late 2014 as an oil dependent economy with no savings. How important is this savings? Lets take our research to the Second largest producer of crude oil Angola, just like Nigeria with no significant savings, Angola's challenges needs no introduction, let facts speak for itself Angola suffered severe Forex & currency challenges just like Nigeria. According to Bloomberg They not only devalued their currency, they equally allowed it to float like Nigeria's Angola devalued its currency as the OPEC member sought to revive an economy still reeling from the oil-price crash four years ago. The kwanza fell 11 percent to 187.95 per dollar by 3:35 p.m. in Luanda and depreciated 10 percent to 221.75 against the euro. The move came a day after the central bank allowed the currency to weaken in its first auction of foreign exchange since announcing it would end a dollar peg that’s been in place since April 2016.....Bloomberg Borrowing to fund Budget deficits, just like Nigeria, Angola has borrowed to the point of requesting a bail out from the IMF https://www.vanguardngr.com/2018/08/angola-says-to-request-4-5-bn-imf-loan-as-crisis-lingers/ Unemployment Rate in Angola increased to 20 percent in 2017 from 19.90 percent in 2016. https://tradingeconomics.com/angola/unemployment-rate Inflation in Angola was a whooping 23.67 percent in December 2017, data on the national statistics agency's website showed on Wednesday. Price growth on a month-on-month basis rose to 1.47 percent in January from 1.2 percent previously. Poverty in Angola According to Angola's 2001 MPI, more than 77% of the population was multidimensionally poor. ... The latest available World Bank figure for income poverty in Angola, from 2008, shows that 36.6% of the population is income poor. Angola's population is currently estimated at 29.7 million. I can go on and on the list is endless, as a matter of undeniable fact, Angola just like Nigeria are the largest producers in Africa, they practically did not save enough and they were hit hard by crude price shock. to balance the analysis, it will be unfair to discuss those that didn't save without giving kudos to those that saved, like i said previously, Algeria saved a whooping $90b when the going was good, as such its economy was immune to crude shock. Russia like we said though had currency challenges during the period under review ostensibly because of western sanctions, Russia had over $400b in reserves by ending of 2014. Saudi Arabia was immune to crude shock not without little currency & subsidy issues ostensibly because of its huge financing of the war in Yemen, they were sitting on a comfortable $732b by the end of 2014. My country men, you can see that this suffering was brought upon us by mismanagement by the same people that are warming up to continue from where fate has left us, if buhari had $100b in our foreign reserve in 2015, we wont be hungry today, we wont lose our jobs, we wont lose our manufacturing industries, this is the truth that shall set us free! Some even blamed it on Avengers attack of 2016 Niger delta avengers was a non issue, if you noticed, I expunged them from my initial analysis, here is why; We were in crude shock from late 2014, Avengers struck in 2016, since 2014, your GDP wasn't showing any growth but retrogression or doldrums meaning you were heading towards recession anyways as a result of crude shock. If Avengers did not strike, OPEC would have asked us to cut production to boost prices, read: https://www.bloomberg.com/news/articles/2016-09-28/opec-said-to-agree-on-first-oil-output-cut-in-eight-years So Avengers or any form of production cut at the time was a non issue. OPEC gave us production cut waiver because Nigeria has already declared force-majore in most of its crude oil export channels. Nigerian people, what is your present government doing to stem this tide that has shocked the fabrics of our nation to the Marrow? The vice president being the economic manager of the country Launched the ERGP, with it Nigeria even in recession was able to save $47b in our foreign reserve, at this pace, I have no doubt that this money will hit $100b in the next 4yrs, that is a guarantee that our economy will become immune to global shocks once again, not just crude shocks alone. (Algerian model) The moment that money crossed $40b mark, forex shortages disappeared, importers stopped complaining, manufacturers stopped complaining of dollar scarcity, debit cards relaxed their limits etc, that was a killer stroke in our economic recovery strategy, inflation immediately responded to the potency of the ERGP from 18.8% in 2017 to 11.23% in 2018. This reserve will boost investors confidence that the economy is liquid enough for profit repatriation, that is how the jobs will return, job creation is private sector driven, not govt. Among the three oil dependent economies in Africa that landed in recession within the same period, Nigeria was the first to exit recession, that was historical & mind blowing, despite fighting terrorism and with a massive population, we did it first before any other country. By Blocking loopholes Our Federal allocation that used to be a misery 311b naira in june 2016 is between 600-700b naira in presently. This volume if held steady will continue providing liquidity that will surely inflate the economy. Nigeria is building a Gas liquefying plant called the NLNG train 7 project, that will in a way increase revenue from Gas against depending on oil alone, there are other ongoing Gas projects like the AKK projects and other Gas for power projects, rightly put, the economy is being diversified towards gas. (Russian model) https://www.vanguardngr.com/2018/07/nnpc-signs-agreement-for-seven-critical-gas-projects/ As you can see here, Manufacturing is gradually expanding, next will be jobs returning on its own https://www.thisdaylive.com/index.php/2018/07/08/cbn-at-57-0-pmi-manufacturing-sector-expanded-in-june/amp/ We don't need Atiku's stealing to truncate an economic process already in recovery. In conclusion, I can state for a fact that the economic challenges of this country has nothing to do with Buhari under the circumstances he met on ground, we have a chance to fix culpability of blames where it rightly belongs on crude shock, or replace this government whose framework seems promising with another leadership of questionable integrity. Buhari is like a mechanic that was given a car to fix, only for the car owner to accuse him of being the problem of the car when he is yet to fix anything. We shall never go back to past governments whose inaction landed us in this mess in the first place. leadership in the past that we tasked to privatize our establishments, all failed save for the one that ended up in his pocket, yet he claimed to create Jobs? How many jobs were lost in that privatization scam where 56 government entities perished? Where is our NITEL, ALSCON, Nicon Insurance to mention a few? Leadership that claims to create jobs but his company PRODECO folded up? Leadership that claim to create jobs yet it was Buhari that sacked foreigners littered everywhere in his company, does an ordinary logistics company need that much foreigners? Leadership that is a case study for corruption and money laundering by the US Senate committee on Homeland security, Leadership that preaches restructuring but enjoys monopoly in Niger delta sea ports? Atiku is a walking scam, may we not walk into the scam called Atiku because of lies peddled and perfected by the same holocausts that landed us in bondage, every scam comes with a loud noise, say No to Atiku, we cant move from Abacha loot to Atiku loot at this perilous time. It will be very dangerous and retrogressive to have a leader that is in bad terms with the international community, remember that the united states is the Fulcrum of our war against insurgency, one will argue that if America doesn't sell arms to us we go to Russia, the world works differently now under Donald trump, ask yourself, why did Jonathan not go to those people when America sanctioned him under the Leahy's ban? Yet he sat idly and watched Boko haram slaughter tens of thousands eventually took LGA's? American ban is as good as a global ban, recall how South Africa seized funds Jonathan wanted to use for arms purchase, please dont ask me what is South Africa's business with a US ban, that is how the world works. In 2017, the US congress passed a law called Countering America's Adversaries Through Sanctions Act, CAATSA to promote the America first agenda while sanctioning countries that do business with American's enemies. If Atiku (God forbid) becomes the president as much as thinks about going to Russia for help, Nigeria will end up in CAATSA web, and that is when the true Hunger will manifest. Can you live under a US sanction like North Korea and Iran? can you live with a Boko haram that is out of control? A boko haram that once bombed Abuja for fun but Today the once Almighty Shekau is in hiding? what about other support we get from the US like the USAID? free immunization? Polio prevention? HIV and AIDS vaccines? Machinery and oil and gas technologies etc? are you willing to throw away all these because of a criminal whose greed led him to commit atrocities in the United states or hate for Buhari that is built on lies? When faced with these realities, Atiku will never achieve anything, rather he will steal what we have left and disappear like he did in the US. May God help us!! Watch Peter obi summarize this analysis https://twitter.com/i/status/1058007016810123264 4 Likes 2 Shares |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by jpphilips(m): 5:52pm On Nov 13, 2018 |
But reacting in a statement made available to DAILY POST by Reno Omokri (for Dr. Goodluck Jonathan), the former President wondered why Osinbajo, who, according to him, was recently indicted by the House of Representatives for an alleged worse corruption in Nigeria, should point accusing fingers at him(Jonathan). Reno Omokri talks like someone on native drugs, the house of representative did not indict Osibanjo for corruption, they said the emergency funds he approved for NEMA was illegal because it didn't pass through parliamentary approval  Which democracy in the world make emergency disbursements through the parliament? whoever investigated that matter should be crucified upside down, what makes it an emergency if it must go through parliamentary approval? Osibanjo merely referred them to section 35 of the BPE act that empowers him to make emergency approvals, I was expecting the HOR to challenge that decision in court, they never did but Reno is barking about illegality, does the HOR know about illegality more than the courts? let alone a professor of law? If an arm of government thinks there an illegality is committed, what is the right thing to do? challenge the decision in court. Reno chose to run along with parboiled information as usual because he knows he has r@tarded audience. “On the issue of debt, the fact remains that in the entire 16 years that the Peoples Democratic Party governed Nigeria, the total amount of money borrowed was ₦8.06 trillion Naira. These are facts sourced directly from the budget office controlled by the Buhari administration. Reno thinks Nigerians are f00ls, by March 2015 shortly before Jonathan left, Nigeria's total debt was 12T naira, recall that OBJ wiped out most of Nigeria's debt and Jonathan was the head of Yaradua's economic management team, hence, Jonathan was in play from 2007 to 2015. here is DMO evidence https://www.dmo.gov.ng/debt-profile/total-public-debt/62-total-public-debt-stock-as-at-31st-march-2015/file The right question Nigerians must ask Reno is this; why would a government that enjoyed the best of times in revenue earning, borrow as much as 12 Trillion naira? does that make sense? Is that not the amount of money countries borrow in time of crisis? why did we borrow it in time of plenty? even obasanjo with half of what Jonathan earned didn't make that mistake, yet Jonathan claimed to have a PhD but illiterates made better decisions. Still on the facts, Buhari's debt profile today is 22 Trillion, if you subtract the 12 Trillion he inherited from Jonathan, that will give 10 Trillion naira only. The right question to ask buhari just like we asked Jonathan; is this 10T borrowing justified under the circumstances, the answer is YES!! here is why. 1) Most of Buhari's debt stock are specifically tied to capital projects, these projects are expected to generate revenue that will aid the repayment of those loans unlike Jonathan's debt. in the real sense of it, we are not really indebted because we have infrastructural guarantees on these debts. 2) Buhari inherited an economy in crude oil shock with prices at some point in 2015 as low as $30/bbl, within a year of his administration with sustained low crude oil price, buhari's economy nose dived into a recession, from that point, it became imperative that the government must reflate the economy desperately, recession shrinks GDP, that means economic activities will decline, inflation and unemployment becomes imminent hence buhari borrowed to reflate the economy from imminent collapse, Jonathan did not have this challenge to such prolonged extent. Now, what Buhari did is a standard global practice if you wish to call it that, it has worked for several countries and it worked for Us. immediately buhari applied that formula, the economy jumped out of recession the next year. In 2008 when the US was in recession, obama approved a borrowing spending of over $831b due to the size of their economy called the obama stimulus plan to reflate it back, it worked, in 2012, Spain in recession borrowed a record $128b to reflate their economy, it worked, In the same 2012, Italy did the same, in all situations, the economy recovered. Reno omokri and his PDP cohorts must take responsibility for their senseless borrowing in time of plenty. “To show to Nigerians the profligacy and ineptitude of the current administration, I draw their attention to the fact that between July and August 2018, the Buhari administration claimed it had shared $322 million Abacha funds recovered by the Jonathan administration to the poor. Then a week after it made that announcement, the Buhari government borrowed $328 million from China. This is the most ignorant statement I have heard in years, I thought IPOB people are the dumbest, Reno just broke a record. Reno must be high on Black menses. The Swiss government agreed to release the Abacha loot with conditions, one of which is that it must be spent on a world bank supervised project in Nigeria under a tripartite agreement between Nigeria, Swiss and the world bank, now, world bank is already funding and executing the National Social Safety Nets Project in Nigeria since 2016 read about it here, http://projects.worldbank.org/P151488?lang=en So Nigeria had no choice than to expand the project by investing the money there because its a pre-condition for the release of those funds. The $328m Nigeria borrowed from China the next week was specifically for the Mambilla power project, if you divert Abacha loot to that, project who will release the money for you? Is the Mambilla power project a world bank project? Reno is an ignorant buffoon just like his boss!! 4 Likes 3 Shares |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Ojiofor: 5:53pm On Nov 13, 2018 |
Osinbajo is a shameless rogue aka fake pastor. |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Amumaigwe: 5:58pm On Nov 13, 2018 |
NaijaRoyalty: That title fit the man die: Mr. Leprousy |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Amumaigwe: 6:00pm On Nov 13, 2018 |
Chemcrown: It does not change the fact that Osibanjo is leprous and should be quarantined from our collective treasury. |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Chemcrown: 6:17pm On Nov 13, 2018 |
Amumaigwe:OK |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by ImperialYoruba: 6:26pm On Nov 13, 2018 |
Ebullience: Reno Omokri is trying hard to return to his homeland by any means possible, including twisting the outcome of an inconclusive legislative investigation into an indictment. Does Reno know what an indictment is, or do I need to teach it to him? 2 Likes |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by ImperialYoruba: 6:29pm On Nov 13, 2018 |
The House committee have sent their report to security agency for review. That makes their investigation inconclusive. They cannot indict on an inonclusive investigation. News for Reno....you will either come home and clear your name or remain in exile for 16yrs or longer. No amount of twisting will serve as shortcut. Diezani tried she failed. |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Stalwert: 6:39pm On Nov 13, 2018 |
[s] Ebullience:[/s] Ineffectual buffoon!!! This mad man whose wife is insisting on holding unto money unlawfully acquired has mouth to talk?
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| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by jpphilips(m): 7:50pm On Nov 13, 2018 |
2 Likes |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Ojiofor: 7:58pm On Nov 13, 2018 |
jpphilips: Look at this son of a bingo.Your father there. |
| Re: Corruption Allegations: Goodluck Jonathan Attacks Osinbajo, Says VP Has ‘leprous by Sirjamo: 8:56pm On Nov 13, 2018 |
All I know is that, Mr Jonathan made twice as much money as Buhari, and even borrowed some, yet, he did nothing: No refinery, no power, no road/ bridge, no social investment, no job, no security, no education, in fact nothing good came out of that man; just corruption and incompetence. |
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Governor Rochas Okorocha In Imo, Check Out The 10 Statues (photo) / Breaking News: Buhari Endorses N30000 New Minimum Wage / We All Need To Learn From TINUBU
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