Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,183,485 members, 7,920,834 topics. Date: Wednesday, 14 August 2024 at 01:17 PM |
Nairaland Forum / Nairaland / General / Politics / External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations (102646 Views)
Women Representation Under Buhari Poorer Than Past Administrations – UN / Obasanjo, Yaradua, Jonathan's Govts To Account For Recovered Loot- Court / See The Names Of Those Who Will Probe Yaradua And Jonathan's Administration (2) (3) (4)
(1) (2) (3) ... (9) (10) (11) (12) (13) (14) (15) ... (26) (Reply) (Go Down)
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:19pm On Nov 07, 2014 |
datolee:My friend the financial crisis did not entirely affect our reserve, it was the Oil Price... You just don't understand, you keep mumbling http://www.nigerianmuse.com/20090102021223zg/nigeria-watch/nigeria-s-foreign-reserves-dip-to-52-7-billion/ Here is an extract from the article Record oil prices had helped Nigeria to build the largest currency reserves in sub-Saharan Africa, which peacked at $63 billion in September 2008. |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Descartes: 12:22pm On Nov 07, 2014 |
datolee:Archived already 2 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by omenka(m): 12:22pm On Nov 07, 2014 |
barcanista:Glo has been as azzzzz today!!! Can't get a thing done!! Today of all days when I'm poised to whoop azzes!!! |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:24pm On Nov 07, 2014 |
omenka:He is trying to ignore the Oil prices, when that is the major factor that controls our finances Sorry for the glo wahala.. 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 12:24pm On Nov 07, 2014 |
barcanista:is the financial crisis not part of what affected the oil price?oga read and stop running in circle http://siteresources.worldbank.org/INTTRANSPORT/Resources/336291-1234451048011/5827121-1239045090161/Watts_PFC.pdf 2 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Demdem(m): 12:25pm On Nov 07, 2014 |
omenka: Am also struggling with this glo Crap. |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:26pm On Nov 07, 2014 |
karlmax2:What is the Oil Price between 2010 and Now? it is like you want to hook yourself. Beside, you have been trolling so I know how I treat your kind... IGNORE 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:27pm On Nov 07, 2014 |
barcanista: Simple answer to you During GEJ time, Sanusi used $117bn defending the naira, During OBJ / part of Yaradua, Soludo spent only $57bn defending the naira Do the maths I really do not understand what you mean by oil price. what has oil price got to do with the value of naira? or you think that $117 billion spent by SLS was from the $47. 7 billion left by Yaradua? Of course oil price increased, so too did the expenditure on by SLS to defend the naira... What it means is that we had more than $117 bn in reserve during the time of SLS in-charge of CBN management by majority of the gain in oil price increase was used by him to defend the naria. What is your question then? 6 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 12:27pm On Nov 07, 2014 |
barcanista:oga read and educate your self and stop your foolery http://www.cluteinstitute.com/ojs/index.php/JBER/article/download/682 2 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 12:29pm On Nov 07, 2014 |
barcanista:your the one trolling it is only an illetrate that would not know that the financial crisis is part of what affected oil price. That is why I aske you to read http://www.cluteinstitute.com/ojs/index.php/JBER/article/download/682 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:33pm On Nov 07, 2014 |
datolee:Wait let get something straight... Under Yar adua regime, the Naira was defended, yet we had increase reserve Under Obasanjo regime same thing, yet we had increase reserve Under Jonathan same thing yet we get depleted reserve At a point the Naira was devalued in EVERY regime... But it was necessary at that time. It wasn't perculiar to Jonathan. Yet his case is different. Meanwhile: The Oil Price under Objs started at less than $20 per barrel in 1999 and peaked at $90 in 2007 That of Yar adua peaked at $147 perbarrel, as at then the reserve was $64billion, ALL time hgh. It only slipped when the oil price dropped to $35 during the economic meltdown. He also rescued banks. Yar adua still had to bear the burden of the extra subsidy bills Jonathan's Reserve have been going downward, he has been enjoying a good Oil Price at $88 to 107$ for the past 4years.. Something non of his precessors enjoyed. Jonathan had the privilege of Subsidy removal since 2012. Instead of his Reserve to GO UP, it is depleting. Only Jonathan BLEEPED our debt without Mercy. My friend How do you explain this? Remember to use EVERY economic indices. You keep dodging this interesting part of OIL Market Price. You are very funny bro Take care of the bold or you want to argue it? PS: Sanusi was Part of the Yar Adua's Regime too. 6 Likes 1 Share |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Abok1(m): 12:33pm On Nov 07, 2014 |
datolee: I like this guy...that being said, lets get back to business. The financial crises didn't affect the government directly, the election did. Because at at 2011 the price of crude oil was hovering above $100 per barrel. http://www.eia.gov/todayinenergy/detail.cfm?id=4550 [img]http://www.eia.gov/todayinenergy/images/2012.01.12/2011BriefCrudeAnnual.png[/img] This means the high cost of crude at $100 is higher than the 2011 budget benchmark of $62per barrel which means and i quote: At $100pb Nigeria earned $83.9billion in 2011 (NGN 12.6 trillion naira).The excess crude oil earned for 2011 should be approximately $31.9 billion (approximately NGN4.8 trillion excess crude oil revenue in 2011). http://www.thisdaylive.com/articles/protecting-nigeria-s-revenue-through-crude-oil-hedging/120055/ The Nigerian economy depends solely on crude, so how did high income from crude have a negative effect on the external reserve, thereby leading to regression instead of appreciation? datolee: That being said, how did the financial crunch affect the government that was making unprecedented earnings in crude oil sales? The simple answer is it didn't. 9 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:34pm On Nov 07, 2014 |
karlmax2:If you can read I made mention of the recession and bailot plus the Oil Price virtually EVERYTIME. Again re-read the thread!!! |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:34pm On Nov 07, 2014 |
barcanista: What is your point? I said the finacial crisis of 2007 did not affect the reserve until 2011 when countries economies where affecte. Your article is talking about 2008 Infact do you that in May 2013 the external reserve was $48.9 billion? If GEJ office ended in may 2013, he would have left more reserve than Yaradua. 4 Likes 1 Share |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:35pm On Nov 07, 2014 |
Beautiful... Datolee you are in for it. Abok1: 10 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 12:35pm On Nov 07, 2014 |
Datolee u have tried to educate this simpleton so let him and his fellow dullard continue makin a fool of themselves Don give him audience again.his just tuning in circle and holding on to straws 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Djicemob: 12:41pm On Nov 07, 2014 |
karlmax2:Yea.The guy has done a good job already.I suggest he take a rest. 4 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Candyrain(m): 12:41pm On Nov 07, 2014 |
datolee:Barcanista thinks External Reserve is all about just stocking up money without touching them. 7 Likes 1 Share |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:43pm On Nov 07, 2014 |
Abok1: I will explain to you how the crisis affected the government, During the finacial crisis, America, Nigeria's main customer reduced it's demand for Nigeria's oil in between 2011 and 2012. Exports of Nigerian oil to the U.S. almost halved between 2011 and 2012, according to EIA data. In the late 2000s, Nigeria regularly shipped around one million barrels a day of crude to the U.S., but last year that number was just 405,000 barrels a day.http://online.wsj.com/articles/SB10001424127887324662404578333981454427720 So in a way even if the oil is $1,000 per barrels, if you don't have customers, you don't get revenue 13 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Sibabasibaba1: 12:43pm On Nov 07, 2014 |
datolee the great. ...Constantly making Buharistans to beat about the bush. 6 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:43pm On Nov 07, 2014 |
datolee:I raised pertinent issue which you are running away from. Did you see our earning as at 2010 and 2011? 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Demdem(m): 12:46pm On Nov 07, 2014 |
Abok1: I stated the above bolded earlier. During election time, Jonathan succk money like anything. Our reserves went down then because he needed money to pay killer delegates and fund his election. The same cycle about repeating itself. This curse must go. 2 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by karlmax2: 12:51pm On Nov 07, 2014 |
datolee:bros please stop giving this dullards your time... Uve been repeating yourself to them.they would never understand u as they've been blinded by propaganda 1 Like |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Descartes: 12:52pm On Nov 07, 2014 |
datolee:Your intellectual prowness is legendary. 3 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Firefire(m): 12:54pm On Nov 07, 2014 |
Sibabasibaba1: 2 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by AJOT99(m): 12:55pm On Nov 07, 2014 |
Hmmm... |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Iykopee(m): 12:56pm On Nov 07, 2014 |
Candyrain: ^^^ If only datolee wud listen and stop presenting hard facts in a bid to educate these bouquet of evil machinators with satanic temerity to promote unimaginable lies and propaganda, they certainly will drag him to their tattered levels.... Pls heed @ DATOLEE. 2 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 12:58pm On Nov 07, 2014 |
barcanista: How much did Soludo used to defend the naira and how much did SLS use.. that will answer your question 8 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by atlwireles: 12:59pm On Nov 07, 2014 |
This moderator is wicked, another beat down of the APC lying machine is now on FP. 7 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by muh4lyf(m): 1:01pm On Nov 07, 2014 |
Johnpaul2k2:so it is now they created a post,but each time thay posted in favour of PDP it's not created...... Make research and see for yourself.... |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by UnimkeAk(m): 1:07pm On Nov 07, 2014 |
You want development, power, infrastructure, etc and you don't want monies to be used. Shebi na abracadabra, we go take get all those 5 Likes |
Re: External Reserve And Debt Under Obasanjo, Yaradua And Jonathan Administrations by Nobody: 1:09pm On Nov 07, 2014 |
I think Obasanjo performed very well on the foreign reserve thing and clearing the debt but the development of the nation was in shamble as in Yaradua's time. After Obasanjo I would give Jonathan the praise as Yaradua didn't spend is time to develop the nation infrastructure for us to understand the impact of his administration. In all ramification while looking at the three of them I would put their performances in descending order. 1) President Jonathan - for trying to put effort in developing the nation rather than increasing the foreign reserve only. 2) President Obasajo - for clearing the debt to the lowest point ever at 3 billion dollars and growing the foreign reserve. 3) President Yaradua - for getting sick and died untimely (as an excuse for his performance). Off-topic: I think it is time to think the Northerner's leadership has been the worst. And, Nigerian youths shouldn't make the mistake of basing their vote on regions but on people. 1 Like 1 Share |
(1) (2) (3) ... (9) (10) (11) (12) (13) (14) (15) ... (26) (Reply)
Nnamdi Kanu Eating With Femi Fani-Kayode And His Family In Abuja (Photo) / Kano: 'they Tried To Whisk Away Results To Govt House, We Did This" - (pix, Vide / The Car Where Olajide Sowore Was Shot Dead (Pictures)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 92 |