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Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:40am On Nov 07, 2014 |
This is it, he already admitted from his posts but using style style to cover up. We all know GEJ failed Woefully!!!
5 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:40am On Nov 07, 2014 |
barcanista: What made it have k-leg? the onus is on you to prove to us that the external reserve was used for another purpose other than stated by the government... and oh! before I forgot, external reserve is under the jurisdiction of CBN and guess who use the external reserve? I know you will guess right, yes it is your amiable SLS!!! 25 Likes 2 Shares |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 8:43am On Nov 07, 2014 |
datolee:the guy want to talk about the depletion of external reserve but don't want to talk aBout the role of the state In it 7 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:43am On Nov 07, 2014 |
barcanista: Where is the lie? I didn't post the link, you did. I didn't post the figure, your link did... what I did was to tabulate the figures. So you can now defend Yaradua for increasing the budget the most, yet you said that GEJ increased it the most.. please between you and me who is lying? 23 Likes 3 Shares |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:44am On Nov 07, 2014 |
datolee:hahaha sorry bro, obiagellit is on point, because the price of crude Oil was also a determinant to this discuss and I highlighted it from the beginning 5 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:46am On Nov 07, 2014 |
Abok1:You couldn't have put it better. The most annoying part is Obj worked hard to balance recurrent vs capital expenditure to almost 50 : 50 in 2007 (despite being an election year) only for this government to drag us 10yrs back (all in the name of settling cronies). 7 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by viczing(m): 8:48am On Nov 07, 2014 |
Whats shall it profit barcanista after all this post come feb 14 gej wins again. I hope you don't show up your sorry ass again here on NL. You fighting to make a point why not go to TV organised forum and table that making silly thread that your fellow janjanweed will only support you. Get a life. 11 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by frankyychiji(f): 8:49am On Nov 07, 2014 |
Descartes: 6 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by ayukdaboss(m): 8:49am On Nov 07, 2014 |
R2bees: Johnpaul2k2: Opiosko:You all were ranting at the mediocrity of yesterday's post on Front Page. Counter facts have now been laid bare for "sensible" Nigerians but your empty brains can't analyse instead you resort to insults. 12 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:50am On Nov 07, 2014 |
datolee:You must be a clown, you talked about recession hitting government hard in 2011 and i asked what the price of crude was in 2011, lets see how hard it hit our government. I see you like shadows a lot, blanket statement don't do it for me. Bye Barcanista, he is all yours. 13 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:50am On Nov 07, 2014 |
Obiagelli: Simply asking how much is the price of crude oil in 2011 was not enough, we should also know much barrels was lifted each year, what is the revenue each year and did revenue increase at the same rate as expenditure... got my point? By 2014, GEJ is budgeting for expenditure, almost 5 times that of OBJ in 2005... the question therefore, did oil price increase by 5 folds between 2005 and 2014? Simply shouting oil price oil price is just begging the question 18 Likes 1 Share |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by omenka(m): 8:50am On Nov 07, 2014 |
datolee:You are being clever by half. This line of yours was exactly the crux of the thread some member created yesterday; passing the buck of Jonathan's misrule to his predecessors. What exactly do you guys suppose we can blame Jonathan for?? Are the figures of our foreign reserves prettier than they were when he took over in 2010?? In 2011 alone the reserves dipped by a whopping $3.5billion! How much savings has Jonathan made year on year since he was sworn into office?? Do the figures of these savings give any hint of fiscal prudence especially when juxtaposed with those of his immediate predecessors Away from that, since in your books the problems precede Jonathan's administration, hence cannot be blamed on him, tell us, can we blame him for losing swathes of territories to a gang of marauding terrorists?? If I can remember correctly, there has never been a moment in our vastly checkered history where a square meter of land was lost to some violent secessionist groups, now we've lost a number of local governments and counting! 20 Likes 5 Shares |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:52am On Nov 07, 2014 |
barcanista:Let him continue making blanket statement, i have better things to do jare. 6 Likes 1 Share |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:52am On Nov 07, 2014 |
datolee:As at Yar Adua's time, There was Positive in the Reserve, it increases with oil Price and reached Amiable 64 billion Dollars. Only Slipped during the recession, when the Oil Price was meagre $30 per barrel. Note that Yar adua bailed the DYING Banks. Yet we have a good external debt. The increase in budget between 2007 and 2008(his time) was due to the fact that he restored the subsidy that Obasanjo had removed in the 2007 budget. In other words, the government paid extra for Fuel. And he left $45 billion in reserve. Jonathan's case, Oil Price was between $80-$107, No recession, yet our Reserve was HEAVILY depleted, and our Debt heavily damaged. In normal circumstance, the Reserve Should be going up with good oil price not even stagnant, not to talk of retrogression. There is no infrastructure on ground neither improvement of our well being. Can you responding EVERY content here and not try to play smarter by half? 8 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 8:52am On Nov 07, 2014 |
datolee:his suffering from amnesia. 4 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:54am On Nov 07, 2014 |
datolee:I have to cross it. Whether Obj increased 5 ot 10 times is another thing and I will give you the chance when I take you on Subsidy FRAUD (In another thread). However, Obiagelli is on point, you seem not to have any justification my guy. No need to be tensed 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by micolaj: 8:54am On Nov 07, 2014 |
Mogidi:Largest ECONOMY doesn't mean anything, just big for NOTHING. Mr.Half-Baked Economist go back to SECONDARY SCHOOL for PROPER lecture on ECONOMIC GROWTH and ECONOMIC DEVELOPMENT. Good day. 13 Likes 2 Shares |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:54am On Nov 07, 2014 |
I will derail a little here.. please forgive me. So from your statements, OBJ and Yaradua were the Messiah of our time? The last I checked, they were under the PDP... so by extension, the problem of Nigeria is not PDP but GEJ?? I thought your party said that PDP have kept us in darkness for 16 years, I didn't know that alternative name for GEJ is PDP. I really can't stop laughing... 33 Likes 5 Shares |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by major466(m): 8:55am On Nov 07, 2014 |
The more I see post like these, the more I'm made to believe that APC got nothing to offer as far as economic development is concerned. Every government have a peculiar kind of challenge. Challenge of international trade as it affect world economic activities and the Nigerian economy. Using international reserves as a yardstick to economic performance without considering other economic indices prior to GEJ administration is laughable. It most have escaped the memory of APC e minions to know that Nigeria was predominantly an mono economy prior to the coming of GEJ. Oil was the single export commodity of Nigeria. How can you have a sound economy without a strong manufacturing base? The manufacturing sector was in a state of comertoes. Go and do a review of the manufacturing sector between 1999 to 2011 and you will see the difference between other administrations and GEJ. Not only is the manufacturing sector coming to life but Nigeria is set to begin export of Automobiles. Was that the situation in OBJ and Yar'adua's era? Nope. Prior to GEJ, non oil export was at a record low. In OBJ's government, non oil export contributed almost nothing to the Nations GDP. Why do you think AGOA failed? Its up to you to find out. The manufacturing sector and non oil export today contribute significant percentage of Nigeria's GDP, the highest ever in the history of the country. Nigeria is becoming more competitive in international trade spiral with non oil export as far as economic diversification is concerned. The records are there for all to see. Under OBJ, the Agricultural sector was crawling. Nigeria was spending huge amount of foreign currency on importation of sugar. Rice importation was at an all time high. How can the economy be in good shape with these records? We were a consuming nation. Nigeria virtually imported every kind foodstuff available during those periods. That's not the case today. It's public knowledge that Nigeria saved over $2 billion dollars from importation of rice. Not only that, Nigeria is scheduled to begin export of rice. That's an economic achievement rival by no other administration if you ask me. By the time you make a sum review of the economic indices between various administration from 1999 to date, You'll discover the real difference between economic growth and economic development. High external reserve with poor economic indices is as good as nothing. 21 Likes 4 Shares |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:56am On Nov 07, 2014 |
omenka:Oga, I am actually putting it to him on Jonathan's issue. He is being cunny and the issues I have been asking is being avoided, but he has been rumbling since page 1 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:56am On Nov 07, 2014 |
datolee: Hahaha did you factor inflation and exchange rate? 6 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:57am On Nov 07, 2014 |
barcanista: Why is it another thing? why keep talking about oil price without talking about the corresponding expenditure?? 11 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 8:58am On Nov 07, 2014 |
datolee:@ Omenka Obiagelli Berem NgeneUkwenu ibnsultan egift and All Progressives, FINALLY someone(A Jonathanian) admits that Jonathan was a FLOP relative to Obasanjo and Yar Adua!!! Thank God for this day!!! 17 Likes 2 Shares |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by frankyychiji(f): 8:58am On Nov 07, 2014 |
barcanista:BarcaBarca...you still dey breathe Chooooii 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Abok1(m): 8:58am On Nov 07, 2014 |
karlmax2: Firstly, let us be clear on one thing. You can check my previous posts on this Fora, I am not a member of APC, nor do I profess to support any political party. But merely disappointed by the performance of the GEJ administration and a further 4 years of this is suicidal. Reason is, if GEJ could not salvage the situation when he is trying to impress and gain the support of the masses towards his 2nd term. Is it when he get the 2nd term and doesn't need the people that he would perform miracles? considering the fact that most administrations perform less impressively in their second terms. Since we are clear on my political affiliation, we can focus on the deficiencies of the GEJ administration. datolee: The recession was felt because the world as become a global village where, when someone sneezes in Texas, the effects are felt in China. But that aside, Nigeria is one of the few countries in the world which doesn't rely fully on the private sector. The Nigerian case of underperformance of the private sector vis-a-vis the banks was because of the recklessness of the key players without being checkmated by the then CBN management. This doesn't in any way mean that the real global recession affected our private sector. To arrive at a valid conclusion, we need to note that the global recession was mainly caused by The bursting of the U.S. (United States) housing bubble, which peaked in 2006, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions globally. The financial crisis was triggered by a complex interplay of policies that encouraged home ownership, providing easier access to loans for (lending) borrowers, overvaluation of bundled subprime mortgages based on the theory that housing prices would continue to escalate, questionable trading practices on behalf of both buyers and sellers, compensation structures that prioritize short-term deal flow over long-term value creation, and a lack of adequate capital holdings from banks and insurance companies to back the financial commitments they were making. Which meant that the private sector of the Nigerian economy should normally be immune from the effect because or mortgage sectors are not directly linked to the international policies. Attempting to link the two unrelated events is an act of skoptsy, which doesn't help in validating your line of argument. datolee: I will give you a few 'uses' National conference with nothing to show for it. $20 Billion missing funds which could have increased the external reserve #1 Billion budgeted for food Budgeting N2.2 billion for a “befitting banqueting hall in Aso Rock Villa,” as was the case last year (2012) N34.5 million for the feeding of lions in the Aso Rock Zoo. One particularly disgusting item in the 2014 budget is the provision of N1.6 billion as deposit for the purchase of a new aircraft for the presidential fleet that already boasts a record 10 planes and is ranked among the most luxurious worldwide. The profligate presidential fleet is complemented with an extravagant motorcade and glamorous lifestyle. Only two domestic airlines have that many aircraft. Nigerians need to know how much money goes into the maintenance of this large fleet of non-commercial aircraft. In 2011, N18 billion was reportedly budgeted to maintain the presidential aircraft. Source: http://www.punchng.com/editorial/jonathans-wasteful-spending-on-presidential-aircraft-fleet/ Do you need more links? 18 Likes 4 Shares |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by EldaTimba(m): 9:00am On Nov 07, 2014 |
datolee:God bless you sir! I wanted to say the same thing. They keep shouting oil price and keep saying expenditure shouldn't be discussed. I guess they are CONFUSED 5 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:00am On Nov 07, 2014 |
frankyychiji:Your guy don give up, you still de fool yourself. 2 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:01am On Nov 07, 2014 |
Obiagelli: Answer to your question.. no I didn't because it is inconsequential to the debate. I wonder why you people never answer any of my questions, rather you go to next topic. who is paying maradona here? 10 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:01am On Nov 07, 2014 |
Obiagelli:He has finally admitted. But we will still get into more of the wastage in another thread. 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by EldaTimba(m): 9:01am On Nov 07, 2014 |
barcanista:Sir, don behave like a kid! You will just lose your repute to the thin air with this kind of POST. I am disappointed. 8 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:04am On Nov 07, 2014 |
Abok1: I guess you didn't understand my argument.. Your link is saying what should have been added to the external reserve BUT my argument is, the money taken out from external reserve was to defend the naira and not for any other usuage So how did your link correspond to my argument? I'm really getting lost by you 9 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 9:06am On Nov 07, 2014 |
Abok1: Final question, did any of these fund taken out of the external reserve? if the answer is NO, then what is your point really? 6 Likes |
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