₦airaland Forum

niyi16:
haven't done anything wrong I always treat her as if she's my sister

InglishTeechar:
Just because you have access to the internet and have a free will to do or say what you want doesnt mean you should looselose your sense of decency...the office of the president must be respected irrespective of who occupies it.

Think of it...there's no way a clown or a clueless man can become the president of a country (ordinary stealing is not corruption), there's a process (the process of gaining supporters via sentiments and pity. "I went to schools with no shoes) and stages to pass through before you become a president...i bet a clown and a clueless individual can NOT skalescale through those stages...lest all Nigerians are foolish which is very unlikely.

If you disagree with this then you and the other people calling the president a clown and clueless are the real cluelessness in human form.

If your father is smarter he would have been the president of Nigeria but i guess not...like father like son.

JESUS! No excess crude account ke Someone please tell me I'm still in Nigeria

Jonathan did not squander excess crude account, foreign reserves – Finance Ministry
By: ONYEKA AJUMOBI ONOCHIE, Abuja January 8, 2015

The Federal Ministry of Finance, yesterday, described as untrue, the allegation that President Goodluck Jonathan administration squandered the nation’s Excess Crude Account (ECA) and the foreign reserves, describing this as one of the synonymous ranting of pre-election period.
Stating this in a statement in Abuja, the ministry said what happened, rather, was judicious application of the savings for the good of the nation’s economy, based on consensus from federal and state governments at various times.

It began, “This statement is issued to, once again, clarify the facts of the recent history and status of Nigeria’s Excess Crude Account and foreign reserves, an issue that is, in this election season, gaining more headline attention. Because of the importance of this key economic indicator, we believe it is important to restate the true position in the interest of the Nigerian public as well as local and international investors.
“First, it is absolutely not true that the Administration of President Goodluck Jonathan has squandered the nation’s reserves. The facts are clear and indisputable. At the end of May 2007, Nigeria’s gross reserves stood at $43.13 billion – comprising the CBN’s external reserves of $31.5 billion, $9.43 billion in the Excess Crude Account, and $2.18 billion in Federal Government’s savings.

“These figures can be independently verified from the CBN’s records. The figure of $67 billion cited in some recent commentary is, therefore, factually incorrect.”

The ministry said it is a misconception to think that reserves are immutable or cast in stone, noting that the reality is that since May 2007, the reserves have fluctuated in line with developments in the international oil market, rising from $43.13 billion at that time, peaking at $62 billion in September 2008 during the Yar’adua/Jonathan Administration when oil prices reached a peak of $147 per barrel, and falling subsequently to a low of $31.7 billion in September 2011.

This fall in reserves, it stressed, was largely a result of the vicissitudes of the global economy and oil market which caused the CBN to intervene, using some of the reserves, to defend the value of the naira.
It continued, “The Excess Crude savings, it should be noted, is a component of the reserves, and was largely used to cushion the economy at the height of the global financial crisis in 2008-2009. As a result, Nigeria was one of the few countries in the world that did not seek assistance from international financial institutions at that time.”

The ministry said the fiscal stimulus used to shore up the economy during that period was shared by all three-tiers of government, adding that similarly, savings in the ECA were also used to pay for fuel subsidies for the entire nation and that sharing continued after the crisis ended. “Starting in 2012, such payments have been published each time they are made,” it stressed.

The ministry stressed, “It is true the savings in the ECA would now have been higher but for the fact that a number of Governors, against strong professional advice, actively kicked against continuous building up of the ECA and, indeed, pushed for its sharing. It is on record that states even took the Federal Government to court on this matter, and the case is still pending at the Supreme Court.”

It said gain: “It is also worth noting that the Jonathan administration built the first ever Sovereign Wealth Fund for the nation in which savings are being made for future generations of Nigerians and important infrastructure investments are being supported,” adding: “it is also a matter of public knowledge that the Fund would have generated more savings and investments if the same sort of opposition that blocked savings in the ECA had also not been at work.”

The ministry stated that by common agreement between the Federal Government and State Governors, in 2009, an amount of about $5.5 billion was drawn from the ECA and used for investment in independent power projects, noting: “today, various State Governments are shareholders in the projects and hold share certificates confirming their stake in the projects.”

On the use of reserves, it said it is not correct to say that the nation’s external reserves were dipped into or misapplied by the administration, noting that anyone familiar with foreign reserves management will be aware that the Federal Government cannot dip its hands into the external reserves.

“Like in other countries, the management of external reserves is one of the statutory mandates of the Central Bank of Nigeria (CBN). Section 2, Sub-section C of the CBN Act (2007) states that the Bank shall “maintain external reserves to safeguard the international value of the legal tender” – in other words, to defend the value of the Naira,” noting that no president, since the democratic dispensation, has contravened this Act.

It continued, “The reserves are also used to settle both public and private sector foreign currency obligations, including the importation of goods, such as equipment for power sector, and whenever an agency of government or a private individual/company needs to make a payment in foreign currency (e.g. payment of goods and services, settlement of external debt, etc), it must provide the naira equivalent to the CBN in exchange for the required foreign currency.

“From the above, it is clear that Nigeria’s reserves during the period were not squandered but used appropriately in the course of normal transactions required for the development of the Nigerian economy,” it further emphasized.

temitemi1:
It won't stop GEJ victory come failbuhari 14 my brother ... GEJ till 2019!!!

Just like berem would say 'Robot Mugabe, how market?'

On a more serious note now. OP, did you create a thread condemning the act of GEJ to air a demeaning propaganda against GMB, particularly when it poked at the General's family?

egift:
Don't forget the shrine in Japan and Association of Witches and Wizards - they never fail to endorse him. What a country

IgrigiMercenery:
**grins** Mr man stop fooling yourself, you work in an APC data center. Please start a thread on why buhari clamped down on the press. Your general is planning to curtail and censor the media and internet when he comes in. Can he take a fraction of the insults your dogs in the ApC throw at GEJ? No.

temitemi1:
Every1 love GEJ ... GEJ till 2019!!!

By everyone, you mean herbalists, thugs/touts, thieving pastors and this old lady, shey

Kundagarten:
GEJ till 2019

Buhari can wait till 2050.www.nairaland.com/attachments/2094145_buhari_jpeg124530d5bd433c751b175a8e21349689

Hahahahahaha! Photoshop! You people have no shame o

Nosurrenda:
APC are buying people with rice but its GEJ till 2019.

goldmma8:
I am a GEJ supporter because he has impacted positively in the lives of Nigeria.so APC, you people should stop been jealous of PDP.

auntymi:
Op nice1,bt dudes we b like wat da f c k

klassiquette:
Nice one but you should know that even an introvert needs to trust you before she opens

LastProphet:
I think Living faith church is envious of Redeem church and whatever they think Osinbajo might bring to Redeem should he turnout to be Vice president following a successful election. It is known fact that Oyedepo champions the renewed support among the clergy for GEJ, so I really thought hard on why he would do that knowing how corrupt GEJ is and also knowing the potential of having a real christian like Osinbajo (not one that dosent have a known pastor) at the VP spot. I realised that he knows but as it is with current-day christianity, Oyedepo is envious but hiding under the guile of deceit. This is my opinion

klassiquette:
Dating a girl for two years I think you guys should have developed some level of trust and openness... A phone call won't convince her enough to open up to you.. Meet her one on one

Kennywills7:
U are so on point op
Let's set aside d sentiments and reason like one Nigeria, if truly they boko haram said d only person dey can listen to his him (buhari) and he did nothing about it to stop d killings and bombings then he has fail us even before coming into power and d pple of north east should hold him responsible
but all dis should only b if truly boko haram said he is d only one dey can listen to

What we need to ask is this, even after it was said that they wanted him to represent the FG while they met with him, what was the decision of the the President afterwards They didn't say he was the only person they could listen to, just that they wanted him to be the middle-man acting on behalf of the Government.

Battery1:
Bokoharam not only said they wil listen to buhari, they also openly adopt him.

And when was he openly adopted Are you referring to the same Boko Haram that referred to him as infidel because he associated himself with Christians?

traware:
Okupe is a mercenary.I have never been into 'prophets' in whatever guise they exist but what I do know is,the 2015 Presidential election is just too damn close to call...I expect anything and everything to happen

cooljintl:
PDP NOT AGAIN 4 9JA

traware:
Alright...if you say so but you have to admit this thread was merely created as a 'pissing contest' to see whose piss reaches farthest

traware:
Sir,when did a large crowd turn-out for a campaign rally become a prerequisite for winning any election?

iiichidodo:
[color=#1980BC] Thanx but no thanx, we prefer watching paint dry than viewing a campaign populated by paid thugs and tattered almajiris who are not only without pvcs but will find better employ working for Shecow or to be used to intimidate and/or kill voters and Youth corpers by Buhari. [/color]

And to the leaders who killed several youths during a job scam Wallow in shallow-mindedness