₦airaland Forum

MummyIMadeIt:
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Get one today for hubby and mummy!

life2017:
Why Nigerians will be making a big mistake by making 2019 voting decision base on current Hardship under PMB

Jonathan PDP Govt 2010 to 2014

Oil Revenue $381 billion dollars.

Debt increased by $29 billion (From $35bn to $64bn)

Reserves dropped by $6bn ($36bn to $30bn in May 2015)

There was increase in enjoyment due to promotion of consumption and free money.

Buhari APC govt 2015 to 2018.

Oil revenue $112billlion dollars.

Debt Increased by $10billion dollars ($63bn to $73bn)

Federal Reserves increased by $12billion dollars ($30bn in 2015 to about $42bn in 2018)

There is relative increase in hardship due to less free money, relatively less focus on consumption despite low revenue and some focus on capital expenditure.

As a neutral Observer
which of the two above is better in terms of fiscal reaponsibility?.

Main Source of data:

https://www.premiumtimesng.com/news/top-news/292875-nigerias-debt-only-increased-10-billion-since-buhari-assumed-office-osinbajo.html

https://tradingeconomics.com/nigeria/foreign-exchange-reserves


The cry of hardship has not been looked into Objectively.

A drop of oil Revenue from $381bn to $112bn cannot be replaced with magic.

Actually PMB govt has done well with the level of hardship we have today. With the drop in oil revenue shown above, I expected the hardship to be much more than it is today.

One of the reason the hardship is not much relative to drop in revenue is because alot of the money from oil boom during Jonathan era were spent abroad buying houses in dubai, US, Canada etc. Hence the hardship is less compared to the drop in oil revenue because a good portion of the money was not in Nigeria economy.

A drop from $381bn to $112bn is a drop of around $269bn . With our current Fed Govt budget of around $30bn( 9trillion Naira), that drop is equivalent to about 9 years of federal govt Budget.

For those who like comparing with Obj govt.

The govt of IBB, Abacha and Abdusalam from 1990 to 1998 only earn $120bn dollar from oil

Obj/Yar adua from 1999 to 2009 earned $481bn due to higher oil production and increasing price. Nigeria just started deep water oil production during Obj. Hence increased volume of oil export. Currently many of those oil fields( Akpo, Usan, Agbami, Bonga) are producing 50% of thier initial capacity. During Obj most foreign sanction impose in Nigeria by US, UN and EU because of Abacha millitary govt were removed. Higher oil revenue and Sanction relief created the economic improvement under Obj.

And again Nigeria population has almost doubled. From 120million in 1999 to about 200million today with declining resources (oil).

Ngozi Nkonjo Iweala understood how Nigeria economy solely depend on oil price. That was why during Q3 2014 when oil price drop from 100 dollar to 70 dollars, she was already warning us to prepare for recession in 2015. She was already borrowing to pay salary in Q4 2014. During Buhari govt, oil price dropped as much as 28dollars per barrel at its worst though averaged 40 dollars with reduced oil production.

We need aggressive diversification of the economy.

Anchor84:
Dis isnt 2005 but 2003 or 4

staneless:
How is this a 2008 model

lincolnj88:
I think you are a little short of common sense..... should I be register to a political party before I can take side in politics......because I myself work for God also meaning I am a church worker.......

GBTYO:
Did Buhari retire voluntarily or was his lenght of service equal to that of Abacha or IBB's ?

IBB had 8yrs more as an officer while Abacha haad 13yrs from 1985

Think

oladele00:
The idiot whiteheaded bitch of ondo state is the greatest calamitous calamity of all time... Imagine ondo senatorial districts has been in perpetual darkness for the past ten years and this bear whited bitch has done nothing to remedy the problems ravaging these said people

4601CE:

seborrhic:
How are the tables turned.
This same Daura literarily blocked the confirmation of Magu as EFCC chair.
Now the same Magu is in the position to determine whether Daura goes to his village to rest or wears prison uniform.
But what has EFCC got to do with the said national security threat of yesterday's action of the DSS boss?
Why even detain him in SARS headquarters?
The appropriate facility for detaining Daura should be that of the DSS itself,which has many of such,and the appropriate agency investigating him should be that of the NSA.
This government seems cursed to be incompetent in almost everything it does.

sarrki:
Ayo Dele Fayose sa ma tesiwaju gbogbo Ekiti Lon fe ooo

Dotwillis1:
we? speak for yourself and your household bro.


Mind you, Eleka is the man contesting not Fayose

godfatherx:
Tiger is not Ekun, there is no Tiger originally from Africa or Yorubaland, hence no need to give name to it

BeeBeeOoh:






The magic behind Nigeria's force men's bullet that it leaves armed robbers unclad always has become the 843rd wonders of the world..



Strange Things

Akin1212:
Just when you think that the anti-gay law passed in 2014 would send shivers down the spine of the culprits or wannabes, the country has, on the other hand, been shocked at the recent bold steps taken by gays and those who want to be gays on social media. Now, Bobrisky may be crazy and may have rudely claimed to be gay, I once read someone's "diary" here on Nairaland where she claimed she's a lesbian. While I am still trying to be less homophobic than before, after all, it's their lives, what I saw today really shocked me.

A slay queen from Idanre in Osun state kissed her friend, mouth to mouth action and posted it on Facebook with the following caption.




And of course, trust Nigerians whose blood are hot with homophobia being pumped directly from the bicuspid valve of their hearts, they rained curses on her and her friend. And someone even warned that she should not let Nairalanders reason her matter, I guess the warning came too late.

Well, it may not be a lesbian alert, but if they could decide to kiss for a picture, what will it take them to decide and have sex when they are both in a room alone? Nothing I guess.

ColdSun:
Heeeelp!

limeta:
We in the niger delta are watching with keen interest
All this is because the zoo government want our oil for the caliphat

stephanie11:
PoliticsNGR has gotten video of president Buhari's official jet leaving the Heathrow airport in London on Saturday morning, headed for Nigeria.

President Buhari is expected to land in Aso-rock any moment from now after spending over 100 days in the United Kingdom on medical leave. The president's return falls a day after a group of protesters stormed the Abuja house in London demanding that the president returns to Nigeria or submit his resignation letter.

It will be recalled that the president has received a number of high profile visitors in the last few days. He met with the Senate president, Bukola Saraki and his counterpart in the house of reps, Yakubu Dogara on Thursday and on Friday, he met with the general overseer of the Redeemed Christian church of God, Enoch Adeboye.

https://www.youtube.com/watch?v=ilDsuoGwJ_w

http://politicsngr.com/2017/08/19/video-buharis-flight-leaves-heathrow-airport/

muykem:
I am happy that igbo are showing their true colours of hatred. Imagine one of them become presidpent of Nigeria.

MasterKim:
And who payed the price?

Disclaimer:
Things are getting messier by the day. This is what you get where there is no sitting president. Acting president busy doing consultations while some fellows are tirelessly planning a genocide. The earlier the government acts the better for all. Just you know, no one has the monopoly of trouble.

Cooly100:
...and yet so many illiterates, mainly the afonjas, on Nairaland will be pointing fingers at IPOB and Kanu...