Pakute:

I have been wasting precious time on a nitwit that has been fed cow dung thrown at him by PG & Hundeyin.

saysoo:
Oga, Goverment are powerful institution. If they have interest, no one can win them. What they did was organized. David Cameron was caught on tape saying "GEJ goverment was fantastically corrupt" wheather that was true is a debate for another time.

blueAgent:


Useless unreasonable baseless comment.

walexbiz:
He too was part of the problem. He didn't save during the raining days and he too went on spending spree even when the price of crude oil was high. He failed to repair the ailing refineries, placed the surveillance of crude pipeline in the hands of militant and there was upsurge in illegal siphoning of crude oil. Sanusi raised alarm about squandering of 20bn USD by NNPC and up till today nobody was arrested

nairalanda1:


Started repaying the debts which we incurred when oil prices were low, especially during COVID when oil was as low as 23 dollars


Unless you have a tiny population, oil countries run into debt when oil prices are too too low.When the oil prices rise, the debt has to be paid off.

We would have been in the same situation in 2011-14 if not for the 2006 debt write-off and oil hitting 140 per barrel in 2008, which yaradua used to buffer our savings.

This is by no means a defence of Buhari. APC came into power with mandate to diversify the economy. They did not. Buhari didn't even raise tax income and fight corruption either

TheGoodJoe:


They are both terrible. Without the money Obasanjo saved, Goodluck would have had a destroyed the economy.

Kukutente23:

Can you quote how exactly Sanusi pointed out the illegality in NNPC?
Amaechi leaked the letter. Sanusi himself said so.
The fact is there was no $20bn missing. NNPCL is corrupt. No one doubts that. But that claim was wild as it was bogus

MASTERCHIEF0847:

Was the price higher than during the GEJ days? Una too like sentiments shish!
Me am not a supporter of any Nigeria leader past or present, they all failed miserably considering the amount of resources and power at their disposal.

poiZon:

Lemme tell u what led to the Forex abnomality during buhari.
He came in stopped dollar deposits and withdrawals.

Nigerians who were outside doing their normal diaspora remittance had to devise means to send cash back home.
That 20billion dollar diaspora fund CBn use in defending the naira was cut off cos of stupid corruption fight.
He blocked border forgetting Nigeria still benefits from transsaharan trade, at the end those mallams that were benefitting from these trades from subsahara were out of business. They resorted to banditry, killing and kidnapping farmers.

This is how it started, poor and foolish leadership cos of hatred of one man

nairalanda1:



UAE and Qatar also have 12 million and 1.8 million people respectively and produce more oil than we do

So they gat the revenue to import, pay for subsides , leave something for the Amir and his geng, and still have lots left over.

GeneralDae:

Did Buhari block borders in Northern Nigeria?

MASTERCHIEF0847:

Please read my comment again, it i did not base it solely on oil prices but you cannot take out the fact that that was during an era of oil boom worldwide and every oil producing nation benefited from increased revenues so its a factor oga.
I also made emphasis on his good economic team and policies.
In reality, all the governments since 1999 have all failed so personally am not giddy about any.

Ibime:
It's simple. He spent the money OBJ saved up to keep the Naira stable

OBJ left over $60bln in Foreign Reserves and $40bln in Excess Crude Account

By the time Jonathan was done, only $40bln was left in foreign reserves and zero in Excess Crude Account

By the time Buhari was done, the Foreign Reserves had all been mortgaged as PWC told us

Government is a continuum. OBJ is the star who built the savings, Jonathan started the rot and Buhari finished it

Mom007:

It's 1150 =1$ as of today sir.

Thegamingorca:


1183

Finneseguy1:
The pepper Apc dey show us eh , e reach full drum

Image123:


Like which one and which one, sureP?

Kukutente23:

Lol. When did Cameron mention GEJ govt in his statement.

Burob:
Only an oblivious minded thing, will compare a government of 5 months, to a government of six years, the wise know that it is never how you start, but how you finish.

Compare Bola Tinubu to Jonathan after his first term.

nairalanda1:


High oil prices and a lower debt burden to begin with.

Before anyone comes here to abuse me

1..I am not an APC supporter

2..I don't back PDP either.


Jona had high oil prices. Buhari started off with dropping oil prices and it was only in 2021 that oil prices went up to the 2011-14 level.

Even then we didn't benefit from Buhari high oil prices because we had borrowed up so much under his rule to feed corruption, feed defending the naira and feed growing subsides.


We had the same thing happening in 1973-82. High oil prices and then in 1982, crash. By 1992 we had gone through years of mess and the naira was hovering around 33 to the dollar compared to 1 to 1 in 1978

Every oil country has the same boom and bust. Venezuela was very prosperous in the 1970s. By 1980s the economy was a mess. Iraq too, which is partly why saddam invaded Kuwait. He needed their oil revenue. Ten years of low oil prices led him there.


The problem Jona, tinubu and Buhari and for that matter many of our past leaders share ( Yaradua was a exception somewhat) is that they think we are a rich country. When oil prices fall, we borrow to keep our heads above water and maintain the illusion.when they are high we spend and spend.

Oil was going above 200 naira by the end of GEj regime. By January 2015 , NOI was warning that hard times awaited, whoever won that year. In fact by 2014, April when oil prices started crashing, anyone who remembered 1982 would have had a feeling of déjà vu.

Charly68:
Which economy did he manage ? How do you people forget things so easily. Would Nigeria have voted for Buhari if all was well under Jonathan ?

Dsimmer:
We had little debt and the forex reserve was good enough. Something good which OBj did at least but he failed to build functional refineries while he and his vp, Atiku looted the money meant for electricity!

So Jonathan met little debt and good reserve when he came in at the time when oil was also selling high but what did he do? Looted our forex reserve and got us into some debt without doing anything tangible nor built any refineries or electricity. Buhari came and sank us into large amount of debt while also looting our forex reserve and refused to build any refineries!

qwertyuioplm:
Despite paying for subsidy and not a producing nation exchange rate moved from 140-180 ,what type of magic did he perform

Kukutente23:

Who is breaking Nigeria if I may ask? Is it those who introduced ethnicity and nepotism or the ordinary man making comments online?
Since you wanted the best for Nigeria, can you confidently say the country is in its best state and is going in the right direction?
Speaking up about the ills of govt dies not imply wishing the country bad. It is even keeping quiet that does the country much harm.