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Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) - Politics - Nairaland

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Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) by LRNZH(m): 5:01pm On Jan 23, 2011
I dunno who you'll vote for, but think 'bout this:

Nigeria's Foreign Exchange Reserve fell from $41 billion to $33 billion between Feb, 2010 and Jan, 2011 (with oil price always at or above $75/barrel while the 2010 budget was pegged at $67/barrel).
Nigeria imported $7.6 billion (N1.15 tr) worth of petroleum products in the past eleven months, out of an estimated $60 billion crude oil earnings (65% of gov't revenue) in the same period.
The excess crude account (ECA) has dwindled from $20 billion to $3 million in the same time frame.

What is going on?

This is a condensed issue because is brings out quickly the management credentials of our present gov't.

WILL YOU VOTE FOR THIS?

I put this together from looking at various sources:
http://www.vanguardngr.com/sweetcrude/2011/january/pageflip.html
http://www.vanguardngr.com/2011/01/political-uncertainty-may-hinder-nigerian-oil-output/
http://thenationonlineng.net/web3/editorial/letters/24119.html
http://www.cenbank.org/IntOps/Reserve.asp
http://oil-price.net/dashboard.php?lang=en
http://allafrica.com/stories/201004050574.html
Re: Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) by ShangoThor(m): 5:13pm On Jan 23, 2011
[size=18pt]Fix the State and you will fix the problem![/size]
This is exactly what happens in a system that has its focus on 'distribution' as opposed 'production',
which is how wealth and surplus' are generated.

Structural adjustment is required within the sphere of the State. Fix the State and you will fix the problem!

It's simple!
Re: Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) by LRNZH(m): 5:20pm On Jan 23, 2011
Past 11 Months: This is more like GEJ credentials since he has been president

ShangoThor:

[size=18pt]Fix the State and you will fix the problem![/size]

It's simple!

So are we to trust that GEJ and the present crop of PDP are going to "fix the state" if "voted" in?
Re: Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) by blacksta(m): 5:53pm On Jan 23, 2011
If i were GEJ's teacher  - I would recommend that he take extra tuition most especially in Information and Communication subjects.


Spend a week with any individual and i am assured you will be able tell which direction that person is heading .  In case of GEJ those 11 months have spoken volumes and a further 4 years would not be pleasant at all for the masses.
Re: Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) by SkyBlue1: 6:11pm On Jan 23, 2011
LRNZH:

Past 11 Months: This is more like GEJ credentials since he has been president

So are we to trust that GEJ and the present crop of PDP are going to "fix the state" if "voted" in?

Are we to trust that the other candidates will? Is this even a discussion or what exactly is the point of the thread, I mean, wouldn't it make more sense to compare between candidates that are actually on the ballot if this thread has anything to do with elections? You ask people if they would vote for "this"? Vote for "this" over what exactly? And perhaps that is the crux of the matter for anyone who wants to sell their candidate of choice or disuade others from voting a particular one, isn't it?
Re: Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) by ShangoThor(m): 6:14pm On Jan 23, 2011
LRNZH:

Past 11 Months: This is more like GEJ credentials since he has been president

So are we to trust that GEJ and the present crop of PDP are going to "fix the state" if "voted" in?

Nope, the people will have to force the issue. But there is no unity amongst the peoples of Nigeria to make the 'Structural changes'.

We the people have to partly accept some responsibility for irresponsible government and decadence.

I tell my father frequently also that I blame his 'independence generation' for what we are about to inherit.
Re: Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) by SkyBlue1: 6:19pm On Jan 23, 2011
ShangoThor:

Nope, the people will have to force the issue. But there is no unity amongst the peoples of Nigeria to make the 'Structural changes'.

We the people have to partly accept some responsibility for irresponsible government and decadence.

I tell my father frequently also that I blame his 'independence generation' for what we are about to inherit.

That is the sad thing that people fail to consider, its like we are in denial over the fact that we the people have let things get to this stage. People will talk heaven and earth and pontificate over the state of things, you ask this same people who can so easily vote (since it is in their vicinity) if they would vote and they begin giving you long story about how its a waste of time.
Re: Past 11 Months: Nigeria's Finances (GEJ's Money Management Scorecard) by LRNZH(m): 6:41pm On Jan 23, 2011
Sky Blue:

Are we to trust that the other candidates will? Is this even a discussion or what exactly is the point of the thread, I mean, wouldn't it make more sense to compare between candidates that are actually on the ballot if this thread has anything to do with elections? You ask people if they would vote for "this"? Vote for "this" over what exactly? And perhaps that is the crux of the matter for anyone who wants to sell their candidate of choice or disuade others from voting a particular one, isn't it?

This is not necessarily a vote for GEJ vs Ribadu vs Buhari vs Utomi vs etc

It is about looking at GEJ fiscal management record so far and discussing if we as Nigerians can live with this.
If we do then why and if we do not then what are the alternatives.
What do the numbers mean for our country moving forward?

Issues then the people.

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