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Nairaland Forum / Nairaland / General / Business / Fed Govt: We Didn’t Squander External Reserve (16502 Views)
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Re: Fed Govt: We Didn’t Squander External Reserve by Rexnegro(m): 1:21pm On Jan 08, 2015 |
PassingShot:Who's deceiving who u asked ? Well PDP= people deceive people . Hope I ve answered ur question of who's deceiving who ? |
Re: Fed Govt: We Didn’t Squander External Reserve by effogis: 1:23pm On Jan 08, 2015 |
Obasanjo, as a head of state, siphoned our money to the tune of 2.6 billion naira which Idi Amin Dada of Uganda grabbed. Obasanjo has to tell us what happened to that money 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by ogene007: 1:24pm On Jan 08, 2015 |
walezy14:I think the more intelligent question to ask is what the money has been spent on. A man who prides himself in having saved a lot of money in the bank while his family are starving cannot be said to have achieved anything spectacular. It is the one who is able to improve the lives of his people by investing in their education, feeding, infrastructure (railways, Power Supply etc), etc , that can be said to have managed the resources better. There has been no evidence of your Jihadist 'messiah', GMB, doing anything meaningful for the pas 30 years after being kicked out of power. It should worry you that you are committing so much of your useful time and resources in propagating a non-achiever, whose only achievement was in organizing a coup, to foist on the nation an era of tyranny coupled with the abuse of basic rights of the citizens. It is not surprising that he was kicked out before he could complete his transformation into the new Idi Amin in Africa. Never again shall we allow a mediocre who in better climes, would be serving time in jail, to come and take over the nation. GMB should go back to the only vocation he was involved in, for the past 30 years after being kicked out of power which is the nomadic rearing of cows, for which his people and type are known for. GEJ till 2019. 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by Nobody: 1:25pm On Jan 08, 2015 |
We need light ! We need change ! [size=22pt] Vote wisely for change FeBuhari 14th[/size] 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by bakynes(m): 1:31pm On Jan 08, 2015 |
I want to challenged all the Jonathanians on NL to this questions. The Old locomotive trains back on track, a few train coaches in some states, improved power supply in few parts of the country,constructing some new Federal roads and abandoning most Federal roads, approving 12 New Federal Universities that has not even started operations, building Almajiri schools in the North, what else please feel free to add more. My question is, is this an achievement for 6 years in power with high oil price. 1 Like 1 Share |
Re: Fed Govt: We Didn’t Squander External Reserve by ceejayluv(m): 1:36pm On Jan 08, 2015 |
Dear NOI, this is too complex for some illiterate Ex army officer and his vagabond corper-lynching supporters to understand.... I suggest you rearrange and compose it with nursery rhymes... 2 Likes 1 Share |
Re: Fed Govt: We Didn’t Squander External Reserve by Matthewbriggs(m): 1:36pm On Jan 08, 2015 |
nicflame: The story does not belong to the gods. The real story is that you just hate the fact that this story does not fit into your narrative about how the money was spent. You just hate the fact that the government was able to counter and put in check the mis information peddeled by you and your lot. 3 Likes 1 Share |
Re: Fed Govt: We Didn’t Squander External Reserve by greatnow: 1:41pm On Jan 08, 2015 |
SaiBuharii:. Shut up and stop insulting my president |
Re: Fed Govt: We Didn’t Squander External Reserve by obailala(m): 1:43pm On Jan 08, 2015 |
The Federal Government has denied allegations by former President Olusegun Obasanjo that it squandered the country’s foreign reserve. [size=14pt]"Nigeria’s reserves during the period were not squandered but used appropriately in the course of normal transactions required for the development of the Nigerian economy.”[/size] Excess income was used for 'Normal Transactions' and someone here thinks this is a sensible explanation by the government? Nigerians have grown too smart to be continuously deceived by these charlatans!... except of course we sometimes decide to act a fool and allow ourselves to be deceived due to ethnic/tribal/religious sentiments. 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by ceejayluv(m): 1:49pm On Jan 08, 2015 |
bakynes:Of course he ONLY supported local auto manufacturing that has given Nigerians a sense of belonging in the auto assembly realm.. He ONLY gave Nigerians the opportunity to take decent and cheap train rides for the first time in their lives with a progressive rail expansion plan acknowledged by KPMG and co... He ONLY endured the smooth privatisation of the power sector which has seen the most massive recruitment in history (Transmission company of Nigeria recruited over 500 in the first batch, Sahara group - over 100, ibedc , Bedc, eedc have collectively taken over five hundred graduates out of the labour market over 6,000 are to be trained and employed by 2018 if the plan is followed) . And all these with just 4000mw of power. Lemme add.that for over 17 years, recruitment into nepa was frozen which led to the promotion of charlatans in handling the power assets. He ONLY made a significant impact in the agric sector that has led to improved yield and local production and export- this point is so starkly obvious, I don't even need to mention it.. He has ONLY done this and a "few" others I don't have time to mention here..... 3 Likes 1 Share |
Re: Fed Govt: We Didn’t Squander External Reserve by Nobody: 1:50pm On Jan 08, 2015 |
atlwireles: Abi oh. Only God will help us at this rate. |
Re: Fed Govt: We Didn’t Squander External Reserve by ElFenomeno1: 1:51pm On Jan 08, 2015 |
GEJ, otueke born bastar.d..... you are going up down next month insha Allah. |
Re: Fed Govt: We Didn’t Squander External Reserve by Nobody: 1:52pm On Jan 08, 2015 |
PDPwayoo: Please back up your claims... |
Re: Fed Govt: We Didn’t Squander External Reserve by effogis: 1:55pm On Jan 08, 2015 |
Accountability and transparency died with Tafawa Belewa's government. |
Re: Fed Govt: We Didn’t Squander External Reserve by ceejayluv(m): 1:57pm On Jan 08, 2015 |
bakynes:Talking of "locomotives"-, Don't forget that GMB annihilated the Lagos Metro line project for reasons best comprehensible by an almajiri brain.... The trains commissioned and being used now may not be contemporary (i.e electric maglev, bullet "shinkansen" trains) but they are Diesel powered and by all means MODERN! 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by ceejayluv(m): 1:59pm On Jan 08, 2015 |
MOBJECTIVE:Holy crap!!.. Please don't ever debate with anyone on macro economic issues again ...... I beg you... #modified.... Sorry, I was referring to the Guy you quoted... 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by bakynes(m): 2:05pm On Jan 08, 2015 |
ceejayluv:To me you and your likes are just stating paper achievements. To the question is this enough achievement in 6 yrs? |
Re: Fed Govt: We Didn’t Squander External Reserve by Sunky200: 2:15pm On Jan 08, 2015 |
Like in other countries, the management of external reserves is one of the statutory mandates of the Central Bank of Nigeria (CBN). Section 2 sub-section (c) of the CBN Act (2007) states that the Bank shall “maintain external reserves to safeguard the international value of the legal tender” – in other words, to defend the value of the Naira. No President since the democratic dispensation has contravened this Act.” if the external reserve is used to defend naira, then why is our dear naira this bad |
Re: Fed Govt: We Didn’t Squander External Reserve by ceejayluv(m): 2:16pm On Jan 08, 2015 |
bakynes:You wrote "feel free to add more" and I did. . It's clear that you'll never be satisfied even if I write all that's in my mind... You can vote your "MESSIAH" with the hope of getting one of those phantom 22000 jobs in your state.... I choose to face the reality and challenges of leadership in our society. I choose not to go back to our collective vomit repackaged as a meal in the name of utopian assurance..... I choose GEJ till 2019. 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by hayoakins(m): 2:18pm On Jan 08, 2015 |
You borrowed it abi |
Re: Fed Govt: We Didn’t Squander External Reserve by skentelelady(f): 2:34pm On Jan 08, 2015 |
J12: What infrastructure have they spent the money on in your own State? Anybody that supports this government is only heaping curses on his/her lineage and future generation Let's call a spade a spade, this government is worse Period. 2 Likes |
Re: Fed Govt: We Didn’t Squander External Reserve by MadCow1: 2:36pm On Jan 08, 2015 |
Points to note.. 1. They never told us how much is left now in our foreign reserves. 2. They never spoke about the monies in the reserve since after 2011 which is when GEJ officially took office as an elected President. 3. The President does not control our external reserves but controls who becomes CBN governor. 4. Same President illegally fired the CBN Governor that whistle blew on the NNPC for illegally handling accruals from oil sales to the tune of over 20 billion U.S. Dollars. 5. The Government also didn't speak about our external debt between the time GEJ took office and now. 6. The FG blamed the drop in the reserve on monies used to import power equipment.. they said when a company wants to buy equipment from overseas, they approach the CBN with Naira to get the Dollar equivalent.. Question is; where is the naira equivalent of the dollars exchanged? 7. The FG failed to talk about the volume of oil sales in the OBJ era and under this administration.. They can dance in circles all they want, we are still watching them and laughing at their folly.. FEBRUARY 14 2015... A date with Destiny for Nigeria... Change is all we want.. 2 Likes |
Re: Fed Govt: We Didn’t Squander External Reserve by sevule(m): 2:45pm On Jan 08, 2015 |
ceejayluv: ONLY How about this He ONLY squandered our foreign reserves He ONLY presided over the most corrupt government in Nigeria's history He ONLY protected all the criminally corrupt people in his cabinet i.e Diezani, Oduah etc He ONLY decided to make EFCC a toothless bulldog He ONLY lost $20 billion He ONLY protected Boko Haram sponsors He ONLY cannot account for excess funds accrued to Nigeria when crude oil was at its highest ever price He ONLY did absolutely nothing about Boko Haram He ONLY made excuses for all his shortcomings He ONLY ensured that after 6 years Nigeria still has no power He ONLY ensured that NNPC was never audited and that it remained a cesspit of corruption Like you said He has ONLY done this and a "few" others I don't have time to mention here..... 3 Likes |
Re: Fed Govt: We Didn’t Squander External Reserve by steeviee(m): 2:54pm On Jan 08, 2015 |
The problem with some Nigerians can easily be ascribed to ignorance. They are uninformed and have refused to help themselves. The internet has become a fodder for the folies and miscreants. Like I mentioned before(https://www.nairaland.com/2014860/cbn-devalues-naira-155-to168/9). The issue with the depletion of the Reserves/ECA begins and stops at the table of the greedy and myopic politicians. And that includes APC and PDP. 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by olaitan4real: 2:56pm On Jan 08, 2015 |
U can still tell us okonjo dat d moni is nt squandered bt stollen... I cant blame wen u,gej nd ya fathers cant produce anyone bt ntin in d account anymore... It shall nt be well wit u... |
Re: Fed Govt: We Didn’t Squander External Reserve by olaitan4real: 3:01pm On Jan 08, 2015 |
When wil u get sense bt i knw u cant...bt i can borrow u small... Dis is a sign eternal poverty as u still shout bej... Ode ti o ni sense!!! |
Re: Fed Govt: We Didn’t Squander External Reserve by olaitan4real: 3:01pm On Jan 08, 2015 |
When wil u get sense bt i knw u cant...bt i can borrow u small... Dis is a sign of eternal poverty as u still shout bej... Ode ti o ni sense!!! |
Re: Fed Govt: We Didn’t Squander External Reserve by ceejayluv(m): 3:07pm On Jan 08, 2015 |
sevule:6 years?... yaradua died in 2010. You folks have been screaming "6 years" since last year... The explanation for our reserves dwindle has been explained in the OP, try to read that with an unbiased mindset... As for BH.. Someone in the recent past said "Attack on boko haram is an attack on the North".. The same victims of BH were reluctant from the beginning to have a full military confrontation.. Those are the same APC northern sympathisers saying he did nothing... Pls name the BH sponsors that were protected.. Our Transparency international rating is inconsistent with your "most corrupt government" claim... 1 Like |
Re: Fed Govt: We Didn’t Squander External Reserve by jpphilips(m): 3:09pm On Jan 08, 2015 |
Why did the Govt enjoy high crude prices from 2008 to 2014, yet Naira never appreciated? The $1b SWF, where is it invested? If you didn't squander the reserves, how come we entered austerity measure less than 1 month of crude price fall? 2 Likes |
Re: Fed Govt: We Didn’t Squander External Reserve by stayblack: 3:23pm On Jan 08, 2015 |
STEALIN IS NOT CURRUPTION..GEJ...BUHARI FOR CHANGE..JOE AND HIS GANGS DAYS ARE NUMBERED..THIEVES.. |
Re: Fed Govt: We Didn’t Squander External Reserve by corruptst(m): 3:24pm On Jan 08, 2015 |
PUSH1:9.6 billion dollars laundered to South Africa 9 billion naira used in d purchase of stoves (I hope it doesn't use kerosene, but if it uses light, whr ll we get light) Others in someone's bank account or secret tunnel. Balance: $0.00 |
Re: Fed Govt: We Didn’t Squander External Reserve by ooshinibos: 3:27pm On Jan 08, 2015 |
“The savings in the ECA would now have been higher but for the fact that a number of Governors, against strong professional advice, actively kicked against continuous building up of the ECA and, indeed, pushed for its sharing. It is on record that states even took the Federal Government to court on this matter, and the case is still pending at the Supreme Court.” wow ...so if its not shared why has it dwindled ..and the case is still pending in court .... over to you GEJ fanatics 1 Like |
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