Sirjamo:
1. Yar adua left $62b for Jonathan. Jonathan left $33b for Buhari.


2. Yar adua left oil price of crude at $100 for Jonathan. Jonathan left it at $40 for Buhari. ( not Jonathan's fault)


3. When Jonathan became president, all states were paying salaries, when he left, 27 States couldn't pay salaries.


4. When Yar adua died, GDP growth was over 9%, by the time the Zoologist left in 2015, he had already destroyed the GDP down to 2.5%

So yes, Buhari inherited a damaged economy. In fact, losing the 2015 election was a huge relief for Dr Clueless, the economy would have been so bad that the military would have intervene and scuttle our democracy.




I AM DONE TALKING

Op please go and read fighting corruption is dangerous writing by Okonjo Iweala
You will see where the major problem of this country is coming from

Na wá oooooh, this is over 6yrs now, pls when are you people going to start taking responsibility

Very stupid and lame statement coming from a stupid man.. So you people weren't aware of the state of the economy before taking over power..

Some people no just get am for upstairs at all.........

I have never seen a more useless set up

Sirjamo:
No president can match Jonathan in terms of sorrow and agony. He and his useless Poverty Development Party created Boko haram, Bandits, Kidnappers. Fulani herdsmen killings excalated on their watch.

Jonathan never created any of these... It is your useless and shameless daddy that brought them..

This is a Rotten Sylva. BUHARI broke The ECONOMY long before he came into the PRESIDENCY.

Kerry Obama's VISIT TO SOKOTO INSTEAD OF ABUJA reared The Ugly head first.

BMF-BOKOISWA IS A TERRORIST A FRAUD AND A HORRIBLE MAFIA.

Sirjamo:
No president can match Jonathan in terms of sorrow and agony. He and his useless Poverty Development Party created Boko haram, Bandits, Kidnappers. Fulani herdsmen killings excalated on their watch.

This is the most foolish post I've seen the whole of this year, and I know the poster is as foolish as the post.

joyairemiya:
Temidayo Akinsuyi, Lagos


https://independent.ng/jonathan-handed-over-an-already-broken-economy-to-buhari-in-2015-sylva/

Stupid talk. I can see the repackaging you guys have done for six years now.

Sirjamo:
No president can match Jonathan in terms of sorrow and agony. He and his useless Poverty Development Party created Boko haram, Bandits, Kidnappers. Fulani herdsmen killings excalated on their watch.

Brother are you alright? Are you joking?

Obviously you are a very serious comedian, I don't want to believe you have few nuts missing.

Agbalanze:
Rubbish talk..
Till now, this incompetent government have failed to take responsibilities instead they keep playing blame games.. Shame!

They might be right about inheriting a bad economy, however, the issues that have come up and the government's reaction to it has made them worse than the previous administration.

- security worsened and it has affected food and daily lives.
- Nepotism has continually caused us to have incompetent people in position of power.
- Lack of clear policies has affected foreign investment and also impacted on local manufacturers. Why is Innoson and other local manufacturers not the sole supplier of Government vehicles?
- Use of security agencies to intimidate anyone that speaks bad about the government has alienated the people.

So it was Jonathan that made Buhari to undertake all the hopeless economic and political blunders that has set our economy back by decades?

It was Jonathan that asked Buhari to shut the borders that caused a massive price inflation, and also cut off companies from raw materials and their foreign markets?

It was Jonathan that created this current economic climate that has diwindled foreign investments by over 80%?

It was Jonathan that asked Buhari to shut down crypto currency?

It was Jonathan that asked Buhari to plunge the economy into recession in 1983?

Among many others.

You are very mad.

They agree that the economy under the their govt is nothing to write home about, but they want to shy away from the responsibility anyhow possible.

kolaaderin:
Every sane patriotic Nigerians knows this as the truth and nothing but the truth with the various challenges faced by this present government.
In 2015 the economy was like a stone already dropped from 20th floor of a building and no magic will stop it from hitting the ground floor, but unrealistic Nigerians want the stone back at 20th floor by just throwing it up back immediately and pretends nothing happens. In reality the stone can only be manually taking back to that floor and beyond through the stairs or lift and that will take a longer period of time than it takes for the free fall. During this period, the Lift got faulty (serious drop in oil revenue only lift PDP left for Nigerian economy) and the staircase was also partially and almost completely blocked due to Covid world recession.
We patriotic Nigerians can only pray things get better from here, the present government has it's own blame of the game but we can only get focused and never allow the country to fall back to the hand of careless PDP looters.

Shut up.. How much was left for Buhari and what has Buhari done to save the broken economy?

Kindledlight:


This is the truth most people especially Buhari critics refuse to accept though this government contributed their own.

For instance that nonsense bail out fund and paris club refund that was more or less Father Christmas packages given to Governors to embezzle with no significant results vis a vis the funds given to them.

These are the funds i think should have been pumped into economy for it’s survival knowing fully well that there isn’t money on ground, hence all these incessant borrowing.

You are seriously deluded.

Your Buhari is a concentrated failure.

I remember when foreign investors in the country were leaving in droves just 1-2 years into buhari's govt.

Buhari fanatics like you were claiming that it is because it is no longer business as usual, and that they can go with their corrupt money.

Those threads are still on nairaland.

You don't know that it is the cumulative effects of all those departures that we are feeling now.?

Sirjamo:
No president can match Jonathan in terms of sorrow and agony. He and his useless Poverty Development Party created Boko haram, Bandits, Kidnappers. Fulani herdsmen killings excalated on their watch.

boko Haram started under obj. kidnappers, bandits , fulani Herdmen got state support under this administration - don't try to rewrite history.

The National association of resident doctors is currently on strike while your president is in the UK for health Care.

He has spent close to a year outside the country just for health Care.

Without being told, does that man look like someone that has any level of administrative ability?

WandaNara:




Common sense is not common.

na plate dat gee the lick with all joy

This one still remained a fool after 6 years.

When foreign investors that came in during Ngozi, adeshina and aganga era were running away from the Buhari led Nigeria, Buhari supporters said they can all go, that it is no longer business as usual.

That their baba Buhari will bring in angels as investors.

Una no well Sha.

Just dey annoy me this early morning.

Thanksful:


Was it not the same reason he took up the task to fix the economy?

If Buhari just left the country the way he met it, most Nigerians would be better off even without him doing anything else.

I wish I can see this man face to face to talk to him. Even though I talk here, he will not read or hear it.

Beancounter94:


Oil prices were also higher under Jonny boy...plus we were draining our forex reserves to pay for subsides among other things.

A lot of free dollars were flowing around. Naturally the dollar would exchange for lower vs the naira.

Besides, we still were reliant on oil. And once the oil prices dropped, as they did from 2014, the naira was going to drop.

There was a time when N1=$1...WHICH was back during the oil boom era of the 1973-82 period. Once oil prices crashed in 1982, dollars rose till it reached N7 BY 1989

drop in oil price alone isn't solely responsible for the naira rising from 170- 500 a dollar

What is this alleged cocaine sniffing thief ranting about?
How long will these APC rogues keep looking back to 2015 when they have been in office for over 6 years. What a collosal failure at national level APC has proved to be

Blaming upon blaming since 2015....thought u campaigned that you could do better

eduj:



drop in oil price alone isn't solely responsible for the naira rising from 170- 500 a dollar

It is largely.

Plus the fact that ultimately we are a nation that is resource dependent.

Jona slowed the decline that was happening under his regime by letting the dollars flow from the reserve. Either way at some point the dollars were going to stop flowing

Anyway Buahri too is a failure. There are things he should have done that he did not do.

Timi,your brain don expire!

ANALYSIS: Six years in office, Buhari fails to deliver on economy
With just two years been left, the administration has performed terribly on seven key economic parameters.
ByOladeinde Olawoyin June 1, 2021 5 min read
When the presidential campaign of the All Progressives Congress, APC, was formally inaugurated in January 2015, then candidate Muhammadu Buhari promised to tackle corruption and insecurity, and develop the economy.

Mr Buhari, a former military head of state, told members of the party at the Adokiye Amasiemeka Stadium in Port Harcourt, capital of Rivers State, that he would pick competent hands to run the nation’s economy, which he said was in poor shape.

“The fundamental issue facing this country is insecurity and the problem of economy which was being made worse by corruption. I assure you that we are going to finally assemble a competent team of Nigerians to efficiently manage the country,” he said.

“I am appealing to you, the damage done to this country is great. The level of unemployment, level of insecurity is intolerable. The journey has begun. It will take time, it will take patience, it will take support from you to make sure that we succeed.

“Let us make sure that our votes count. The problem we are facing today is the problem of security and economy. We have gathered competent hands to manage the economy and tackle insecurity.”

Saturday, May 29, marked six years since Mr Buhari took power as Nigeria’s president, after defeating former president Goodluck Jonathan in 2015 and winning re-election in 2019. He has just two years left to complete two maximum four-year terms.


Former Nigerian president, Goodluck Ebele Jonathan
Former Nigerian president, Goodluck Ebele Jonathan
His six-year reign as president has seen the nation wriggle through numerous economic challenges, with inflation and unemployment at worse levels than he met them. On a comprehensive note, how has the economy performed under this administration?

Inflation
Prior to 2015, the nation inflation rates remained at single digit––even as analysts opined at the time that it was high. For instance, in the whole of 2014, the nation’s rate of inflation moved between 7.7%, which was the lowest, to the highest point of 8.5%.

In 2015 when Mr Buhari took over power, inflation rate averaged 9%.

In recent years, the nation has seen a persistent surge in inflation rates, reaching the highest levels in four years. Data released by the statistics bureau has shown that Nigeria’s inflation rate has since skyrocketed amid increase in food prices and poor purchasing power.

In March 2021, inflation rose to 18.17% from 17.33% recorded in February 2021. This represented 0.82% points higher than the February figures, according to the Consumer Price Index report released by the National Bureau of Statistics (NBS).

In April, however, the bureau said inflation rate stood at 18.12 per cent.

TEXEM

Food Prices
A key element of inflation in Nigeria in recent years is the skyrocketed prices of food and related goods and services.

In February, this newspaper reported that Nigeria’s food inflation rose to the highest level since 2008, a sombre illustration of the crisis the nation’s food sector has faced, with millions of poor citizens struggling daily to buy food at exorbitant rates.

Food inflation climbed to 20.57 percent year-on-year in January 2021, according to data released by the Bureau of Statistics, making it the highest in over 11 years.

Nigeria has seen one of its longest inflationary streaks in recent months, amid border closures and a blockade of southern Nigeria.

Analysts blame the rise in food prices on COVID-19 pandemic disruptions, dollar shortages, and lingering restrictions on imports of certain food items even after the nation reopened its borders. Another factor is the incessant attacks on farmers, which has caused shortages of goods.


Unemployment
A key element of the Buhari-Osinbajo campaign mantra in 2015 was job creation.

ADVERTISEMENT
When the administration took over power in the second quarter of 2015, unemployment rate rose to 9.9% in the third quarter of that year from 8.2% in the second quarter, according to the National Bureau of Statistics (NBS).

Since then, unemployment, poverty and economic disempowerment have remained a disturbing feature of the Nigerian life.

Between May 2015 and May 2021, Nigeria’s unemployment rate has more than tripled.

In March, the nation’s statistics bureau reported that Nigeria’s unemployment rate rose to 33.3 per cent, translating to some 23.2 million people, the highest in at least 13 years and the second-highest rate in the world.

The figure jumped from 27.1 per cent recorded in the second quarter amidst Nigeria’s lingering economic crisis made worse by the coronavirus pandemic.

Unemployment rate in the country has more than quadrupled since the economy slipped into recessions, first, in 2015, and later in 2020.

The federal government in its Economic Sustainability Plan had predicted that the rate of unemployment would rise to 33.6 per cent at the end of 2020 if urgent steps were not taken.

GDP and Recession
Between May 2015 and now, the Nigerian economy has fallen into recession, twice.

The economy fell into recession, first, in 2016 when the economy contracted 2.06% between April and June. The country saw two consecutive quarters of declining growth, the usual definition of recession, when its vital oil industry was hit by weaker global prices. Among other concerns, analysts blamed Mr Buhari’s failure to initiate an economic roadmap and constitute a cabinet for the economic recession.

Again in 2020, Nigeria slipped into a recession after its gross domestic product contracted for the second consecutive quarter, according to data released by the nation’s statistics bureau. The data also showed the impact of the COVID-19 pandemic and low oil prices on economic output.


Meanwhile, the GDP growth rate put at 2.3% before 2015 has since slowed, now averaging 1.01%.

Naira
In November 2015, six months after Mr Buhari took over as president, the naira sold against the dollar at N197.

Between then and now, the Nigerian unit has gone through ceaseless devaluation, with two of such exercises occurring in 2020 alone.

Last week, the Central Bank of Nigeria adopted the Nafex rate as the government’s official exchange rate for the naira, effectively devaluing the currency yet again by 7.6 per cent.

Central Bank of Nigeria on the need for a Trade Remedies Legislation
Central Bank of Nigeria (CBN)
The naira had official been placed at a fixed rate of 379.

The currency exchanged 410.25 for a dollar on the relatively flexible Nafex or Investors and Exporters window, almost two weeks after the CBN erased from its website the exchange rate that for about a year was seen as the government’s official rate.

In March, the CBN had denied devaluing the naira after the Minister of Finance, Zainab Ahmed, said the government had adopted the Nafex rate used by investors and exporters.

The move was part of the government’s resolve to harmonise the nation’s multiple exchange rates.

The reduced value of the local unit has had effect on investment as much as it has impacted local businesses and manufacturing outfits.

Earlier on Sunday, Garba Shehu, presidential spokesperson, said the naira is in the “best possible health it can be, given the circumstances we are in”. Mr Shehu explained that the COVID-19 pandemic has negatively affected the global economy, and “only the Nigerian economy is recording ‘positive growth’ in Africa”.

Foreign Exchange Policy
The nation’s foreign exchange policy has been riddled with uncertainties, especially in recent months, largely due to the incoherence in policy appreciation on the parts of the Central Bank of Nigeria (CBN) and the Ministry of Finance.

For instance in March, Nigeria’s finance minister, Zainab Ahmed, stirred controversies when she said that Nigeria had adopted a new flexible exchange rate policy for official transactions, a claim the Central Bank of Nigeria swiftly denied.

Minister of Finance, Zainab Ahmed 1
Minister of Finance, Zainab Ahmed (PHOTO CREDIT: Official Twitter Handle)
The development raised concerns among investors and analysts, with many opining that the uncertainties could undermine investment.

In the same vein, people have mixed feelings about the nation’s foreign exchange management policy, with many flaying the government over its numerous restrictions and other transparency concerns in forex allocation to Bureau de change operators and other high-profile individuals by the CBN.

Debt
The nation’s debt profile has risen considerably since Mr Buhari took over power, as budgetary proposals have been designed considerably around debts.

According to the Debt Management Office (DMO), Nigeria’s debt profile stood at N12.12 trillion as of June 2015, shortly after Mr Buhari took office.

In March, the Debt Management Office (DMO) said Nigeria’s total public debt as at December 31, 2020 was N32.915 Trillion. The figures include the Debt Stock of the Federal and State Governments, as well as, the Federal Capital Territory.

DMO said after Nigeria exited recession in 2017, the level of new borrowing by the Nigerian government had been declining as part of the government’s measures to moderate the rate of growth in the public debt stock in order to ensure debt sustainability. It added that new borrowing to part finance budget deficits “had declined steadily from N2.36 Trillion in 2017 to: N2.01 Trillion in 2018, N1.61 Trillion in 2019 and N1.59 Trillion in the first 2020 Appropriation Act.”

However, the DMO admitted that the trend was reversed in 2020 due to the economic and social impact of the COVID-19 Pandemic as new borrowing in the revised 2020 Appropriation Act was N4.20 Trillion. It argued that “many countries including the advanced countries also increased their level of borrowing as a result of COVID-19.”

Analysts have however argued that the level of borrowing could prove unsustainable, especially if premium is placed not only on the nation’s debt-to-GDP ratio, but its worrisome debt-to-recovery
Copied from© 2020 The Premium Times

At least Mr. *Clueless* grew the economy as the nation experienced on of the highest growth rate, thus placing Nigeria in the group of MINT nations. Yes 2015 experienced a drop in oil prices, and that growth rate was slashed, never the less the country's economy still grew..


....then Mr *Integrity* came in, and failed to formulate an economic blueprint for the nation, or appoint an economic advisory team for MONTHS. Then the economy began to stagnate, and then 1st recession. Ladies and gentle men, I think it's safe to say that Nigeria is experiencing it's THIRD RECESSION now, all thanks to the TOTAL LACK of leadership at all levels as Dr. Pat Utomi aptly put it, all thanks to Mr. *Integrity*....


....but hey, keep blaming GEJ..

Sirjamo:
No president can match Jonathan in terms of sorrow and agony. He and his useless Poverty Development Party created Boko haram, Bandits, Kidnappers. Fulani herdsmen killings excalated on their watch.

Can you just be reasonable. Buhari's fiscal policies put us in this mess not Jonathan. Haba y years later and still the same blame game...... Bush bequeathed to Obama a US that was deep in recession did Obama start ranting about blaming Bush? Abeg stop glorifying incompetence please.

They wont stop blamin the past government for their failurd.we at MONSTERBBQGRILLZ Totally condemn this blame game by this stupid government led by our darling zombie daddy