ddippset: Glad you know that GDP is not the budget. Now if Jonathan's highest budget was 4 trillion naira and the revenue accruing from oil alone was 94 billion dollars(over 12 trillion naira) in one year, that's from oil alone, what happened to the balance of about 8 trillion per year? Is the money they were looting and sharing to girlfriends and pastors from there? You just shot yourself in the foot.
Thanks for teaching this cowards and looters supporters club a lesson Jonathan left Aso rock with the brains of many Cownu zombies and wailing zombies
Firefire: Mr Minister of darkness formulating lies as usual.
Raining season induced generation.
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With $465 billion Jonathan your lord of thieves and father of corruption couldn't generate 4000mw during heavy rainfall ... you people worship lies live lies and breath lies that is why you will rush to post silly crap
sychophants everywhere. ... it is low esteen people like you that gives Jonathan the hero of thieves the foot stool to insult Nigerians despite his horrendous regime.
Atiku2019: Sincerely GEJ you are a good man, but your weakness was not taking immediate action when some of your aides were soaked in "open corruption"
1) Abba Moro Immigration scam
2) Stella Odua bulletproof cars
3) Deizanni
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Your definition of being a good man means that you would see your friend rape a innocent woman and still be weak to stop them talkmore of being a witness to prosecute them. Like your principal your morals only worship easy virtue decisions.
PDP know their slaves and their slaves know them, and none can pluck their slaves from their hand because they are slaves whi don't want to be free .. they are slaves not because they are not free.... they slaves because they don't want to be slaves. How else will a party of thieves keep acting without any iota of repentence?
successmatters: And I ask again, was it Jonathan that crashed world oil prices?
Because I can't understand why this administration has been crying and wailing about how Jonathan sold oil for above 180 dollars.
Did this administration fight to win the presidency just on the sole purpose of selling oil above what Jonathan sold it? These guys are just dreamers
The only time to know good administrations is during tough times, breeze don blow, we have seen the rump of the chicken.
Btw, these guys should all resign and hand over power to Shonekan if they don't know what else to do apart from hoping on high oil prices.
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Some times your ignorance insults the dumb ... it will do you a world of good to shutup when you have little capacity to comprehend the topic of discussion.
After my release from a three-day incarceration which terminated two days ago, I lost the appetite to contribute to discussions here. Nevertheless, upon some consideration I decided to do this.
For those who insist we just forgot about the immediate past admin and concentrate squarely on the current one, well, you might have a good point but the problem is, the guys that push this line of thought are the same guys that keep attributing every accomplishment of this government to Jonathan. When it has to do with some cheery news, an assembly plant here and there, stable power supply, etc, they go "oh thank you GEJ", but when those idiotic murderers set off a bomb, or the local currency takes a beating, they don't hesitate a split second to blame the President.
There's no gainsaying most of the ills we suffer today, from economic hardship (devaluation of the naira) to ethnoreligous intolerance have their roots from seeds sown by the past leaderships, especially Jonathan's.
So, in the spirit of fair coverage and keeping the legacies of Ebele alive, I decided to do this little piece.
Enjoy.
We've heard, on several accounts, about incidences of massive corruption under Jonathan's administration, chief amongst which were:
1. Fuel subsidy scam: This is arguably the biggest fraud in the country's recorded history. From the outcome of several probes, it was revealed that the monies stolen under this scheme ran into $16.4 billion. On some accounts, we had up to 2.56trillion naira stolen, the most conservative of which was 1.8trillion naira. The fact that the figures couldn't be reconciled by the various bodies who should have a common figure as to how much was actually expended on subsidy, from the Finance ministry to DPR, PPPRA, to CBN, showed that indeed the expenditure was questionable.
The most chilling part of this was that it was done with no supplementary approval (budget) from the NASS, in blatant violation of extant fiscal laws. Under the budget, only about 356 billion naira was appropriated. To this day, no explanation has been given as to what accounted for the astronomical rise in subsidy expenditure.
2. Pensions Fraud: Under this scam, we saw over 400billion naira (over $2.5billion then) stolen by Maina and his gang. sunnewsonline.com/new/n469bn-police-pension-fund-scam-they-want-me-dead-maina/
3. Crude oil theft: Under saint Jonathan's admin, according to the coordinating Minister of the Economy, Nigeria was losing a princely $12.6billion. thenationonlineng.net/new/oil-theft-and-a-ministers-lament/ . In this interview, Jonathan even sank as low as blaming the oil thefts on "the refineries abroad!!" He didn't think his surveillance contractors or himself had any blames to take whatsoever. https://www.youtube.com/watch?v=jCZos8xM7Iw. How much more dishonourable can a leader be?
4. Kerosine subsidy mega scam: Under the guise of a nonexistent subsidy on kerosine, the government of Goodluck Jonathan expended a whooping $8.76billion. This fraud was so staggering the governor of the nation's apex bank had to blow the whistle. But rather than investigate and bring offenders to justice, Jonathan went for broke, persecuted and criminalised the whistle blower! www.punchng.com/feature/kerosene-subsidy-the-hidden-mega-scam/www.bbc.com/news/world-africa-26535530
At the risk of sounding verbose, I'd limit the cases to these as they are some of the most publicised cases of barefaced theft under the immediate past admin.
Now, let us sum up the figures above: 16 + 2 + 12 + 8 = $38billion!! The greatest betrayal of the mandate given Jonathan by Nigerians was that not a SINGLE individual is serving a jail term over this rot. That sends but only one signal to discerning minds- that the presidency itself must have been complicit in the whole scheme.
Here are some potentially life changing projects these monies could have been channelled into had Jonathan and his henchmen shown a little bit of honour and commitment to the course for which the Nigerian people elevated to where they were.
I call them the Opportunity Costs of Corruption.
1. The Itaipu Hydro Electric Dam. I chose to refer to this first because the problem of inadequate power supply is one that affects every single Nigerian and as a problem, has defied solutions by successive administrations, not because of insolvency but corruption.
Jonathan's government spent over $8billion ( www.thisdaylive.com/articles/fg-states-lgs-spend-8-26bn-on-nipp-projects/202324/ ) generating nothing but darkness. In the twilight of his administration, the economy of the nation was literally shut down as power supply dropped to its lowest levels in the country's recorded history.
Itaipu dam was built by joint effort between two countries- Brazil and Paraguay. It is the world's second largest hydroelectric plant with an installed capacity 14GW. It supplies 75% of electricity consumed by Paraguay and 17% of that consumed by Brazil. It cost both countries and investors $20billion to build to finish!
Let's put these figures into perspective: Kainji dam, Nigeria's premier electricity generation facility has an installed capacity of 760MW and cost us $209million to build. There are 1000megawatts (1000MW) in 1gigawatt (1GW). If we were to convert, we would have 0.760GW of electricity being produced by Kainji. ie. Kainji dam generates approximately 5.4% of what Itaipu generates!!
Now, had Jonathan's government decided to build an Itaipu-like dam rather than stealing the monies above, they would still have kept a change of $18billion and Nigeria electricity problem would have been history!
Given that the nation has a total installed capacity of 10,000MW (10GW) and an "available" capacity of 6,000MW (6GW), the total is still 4,000MW shy of Itaipu's capacity and what could actually be transmitted is 8,000MW shy of Itaipu's. Isn't this a disgrace??
The economic benefits in terms of employment and wealth creation having such a facility brings to a country can only be imagined.
2. John Hopkins Hospital: All of these for just - wait for it- $1.1billion!!!. m.hopkinsmedicine.org/news/media/releases/its_open_the_johns_hopkins_hospitals_new_11_billion_building_welcomes_first_patients
With citizen dying of very preventable causes and spending millions of dollars yearly on seeking medicare abroad, imagine what a facility like this could have done for us in terms of prevention of deaths, prevention of capital flight and medical research.
Now, with both projects in the kitty, we still have about $16.9billion left!
3. The Mogul of Mumbai: This is one monstrosity that has placed India shoulder to shoulder with superpowers of engineering and technology. It is one of the world's largest petrochemical refineries with a capacity to refine 600,000 bpd. With annual revenues in the region of $18billion, one can only imagine what a facility like this could do to a country's economy.
Now, guess how much it took investors to set this up- a "paltry" $3.2billion!!
Subtracting this from the 16.9, we would have a change of $13.7billion left.
4. Danyang–Kunshan Grand Bridge: Nothing demonstrates Jonathan's grand deceit than his non-completion of the second Niger Bridge which happened to be one of his strongest campaign promises during 2011 elections. He even went as far as saying he'd go on exile if he doesn't complete that bridge before 2015!!
The Danyang Grand Bridge is a 165km engineering masterpiece built in four years, the same duration of time Jonathan plans to deliver his fabled Second Niger bridge of 1.5km!!.
Let's play with these figures a little: for a bridge of 165km to be built in 4years, it means about 3.5km would be built in a month!! Just imagine this!! It means the Chinese would take less than a moth to deliver what it would take Jonathan 48months to complete!!! If that doesn't make your head spin, then I don't know what else would.
To the interesting part: it took just $8.5billion to deliver this.
Again, subtracting from the change we are left with, upon building one hundred and ten second Niger Bridges (165km divide by 1.5km), we would still have a change of over $5billion left!! There are a billion and one things we could do with this amount of money as a nation!
These are but just a few things this nation could have done with the proceeds of corruption and incompetence in the last admin.
It remains to be seen how Jonathan cuts the image of a "hero" deserving of a Nobel Prize.
Progressive01: Here's a recap of their demonstration of inbred stupidity..
When news made the rounds he spoke to xyz, they said it is a lie, that they need pictures.
Pictures were shown them, they said they were old pictures and they need audio.
Audio was given them, they screamed "it is a voice over, we need videos"!
Video was shown them, next things the inconsolable sore losers said was "why is the clip too short? "
Now a long video has been presented them. I wouldn't be surprised if their next demand is to see Buhari steering a Russian submarine far them to believe he's hale and hearty.
What a damn shame.
You sound so frustrated and alot more closer to death than the old man.
They are a sad bunch and unintelligent people how else would people hate a man recovering money that would make their lives better.
richidinho: op stop ranting and prove to us that no.1 was a lie
You see your ignorance cannot be cured... like Jpphilips said "you subscribe to the internet you end up watching porn you subscribe to cable you end up watching African magic..." you simply not expanding your capacity to reason as the burden of proof falls on you since Fayose claimed Buhari was in Abuja while at the same time a video showed clearly Buhari was in London where he eventually gave a speech at chatam house. Is it any wonder OBJ said only illiterates are impressed by Fayose .
Politics › Re: In Response To Jonathan's Accrued Oil Earnings Vs Buhari's by vedaxcool(m): 8:44pm On Aug 15, 2017
