Amya:
I'm not an economist but I think that soludo is talking from both side of the mouth.

When facts were presented that Nigeria can't simply lose what they never had, he started talking about mismanagement and theft. We can only calculate loss through income, not would be income or should have been income.

someone desperately grasping at straws.

lorddeni:


Fellows like you make one wonder if we even live in the same country So 'oil theft, money that ought to accrue to stock of foreign reserves, unbudgeted oil subsidy payments, customs duty waivers, leakages through the self-financing government parastatals, unremitted sums by NNPC, etc ...and other black pots' are out of the control of government abi?

Even if they are using you for this nonsense, at least use yourself for something that makes sense biko

donfineboi:


Its either u r an erratic ignoramus or u simply cant read to understand.
How much does Nigeria make from sales of of crude daily?
How much from import duties, immigrations, VIO(drivers licence) n other parastals?
How much from taxes?
Etc.....
Sum them up n add them it far exceeds the budget allocations.....
Now ask urself where did all the summed money go to?
How come our foreign reserves are depleted?
Did the monies go there?
Or may be they put it in the central bank?
But the former CBN governor claimed money was missing....
Or maybe it developed wings n flew away

I guess u will understand better now..... I had to.break it down for u.
Good luck in grasping

davitogreat:


use your head you stupid du.m.b.fu.c.k. DO you know how much 30 trillion naira translates to in dollars? That is 178 billion dollars over the past 4 years! That is 40 billion dollars a year. The federal govt does not even accrue near that much after oil sales and after oil drilling expenses and revenue sharing with states. S.t.u.p.i.d illiterate thinks its possible to steal 40 billion dollars a year and Nigeria will be still functioning. Not even the United kingdom would survive if 40 billion disappeared each year. Do you know what would happen to our banking sector if 40 billion went missing? Do you know what would happen to the inflation rate in the country if 40 billion went missing?

Its idiots like you that is the reason Nigeria is where it is today. Get this through your skull. Nigeria IS NOT AND HAS NEVER BEEN A RICH COUNTRY. IT IS A POOR COUNTRY. ALL THIS USELESS MISSING SUMS OF 20 BIllion DOLLARS, 178 Billion Dollars AND 30 TRILLION NAIRA ARE JUST HOAXS SENT OUT TO FULL GULLIBLE UNEDUCATED NIGERIANS AS YOURSELF.

davitogreat:

use your head you stupid du.m.b.fu.c.k. DO you know how much 30 trillion naira translates to in dollars? That is 178 billion dollars over the past 4 years! That is 40 billion dollars a year. The federal govt does not even accrue near that much after oil sales and after oil drilling expenses and revenue sharing with states. S.t.u.p.i.d illiterate thinks its possible to steal 40 billion dollars a year and Nigeria will be still functioning. Not even the United kingdom would survive if 40 billion disappeared each year. Do you know what would happen to our banking sector if 40 billion went missing? Do you know what would happen to the inflation rate in the country if 40 billion went missing?

Its idiots like you that is the reason Nigeria is where it is today. Get this through your skull. Nigeria IS NOT AND HAS NEVER BEEN A RICH COUNTRY. IT IS A POOR COUNTRY. ALL THIS USELESS MISSING SUMS OF 20 BIllion DOLLARS, 178 Billion Dollars AND 30 TRILLION NAIRA ARE JUST HOAXS SENT OUT TO FULL GULLIBLE UNEDUCATED NIGERIANS AS YOURSELF.

Redoil:
30trillion will be missing from the national tresurey and the entire country wont stand still. If a professor can toe the line of such reasoning then we give up.
And the most vile of the PDP left en mass to form APC and started chanting and shouting change.
I hope soludo will soon follow his kinsman mbadinuju to APC "the congregation of falshood and fraudster"

oyeludef:
i strongly doubt if u read d article b4 commenting

ayindejimmy:
You people still don't get this Soludo dude.
Lemme make it simple... Your income is money you earn. What about those you could have earned but was not allowed to or not aware of?
More example. Assuming you have a hotel. You rent it from Monday to Sunday. Eventually, he have to sleep or go out some time. Then your workers rent rooms out in your absence and they didn't record the money.
That unrecorded money ought to be part of your income. But because you're ignorant of it... You don't know your income is more than what is on record.
Get it?

davitogreat:
Now i am certain soludo is an i.d.i.o.t. Nigeria might have a 100 trillion naira economy but the government does not even have access to 10% of it due to our inability to create a solid tax base. There is no way the Nigerian government can mismanage what they cant even get their hands on in the first place. 90% of the funds our government has access too comes from NNPC. It is why Nigeria is considered a mono economy and why people have been calling for government to diversify her sources of income.

donfineboi:


Its either u r an erratic ignoramus or u simply cant read to understand.
How much does Nigeria make from sales of of crude daily?
How much from import duties, immigrations, VIO(drivers licence) n other parastals?
How much from taxes?
Etc.....
Sum them up n add them it far exceeds the budget allocations.....
Now ask urself where did all the summed money go to?
How come our foreign reserves are depleted?
Did the monies go there?
Or may be they put it in the central bank?
But the former CBN governor claimed money was missing....
Or maybe it developed wings n flew away

I guess u will understand better now..... I had to.break it down for u.
Good luck in grasping

PointB:



There is no doubt that your workers will try to play foul of the rule. The question is how did you determine that the sum total lost to this foul play (in those few days/instance) is far in excess of your normal income. Put in simpler language, you are the Manager of a hotel. Past records indicate that the hotel business makes an average income of N1000 a month, even with leakages. Now someone comes to you and tell you cannot account for N3000 monthly income that ought to have been remitted to your income account!
Shouldn't you be asking how the analysis and figures were arrived, especially if the intent was to impugn on your integrity and competence?

ayindejimmy:


I'm glad you're getting soludo's msg. I'm not an economist but I think as a former Governor of CBN, Soludo is a competent source.
What the government ought to do is ask him to explain in broader terms the realities of his assertions instead of simply brushing it aside as been frivolous.
Just like your analogy.. . If the former manager of your hotel comes forward with such accusations against the new manager. Will you all to wave it aside or invite him to give you a break down analyses of the reality of his allegations?
It may surprise you to know Nigeria is wealthier than our leaders are making out to us. Some Monies are prevented from entering the Federal account and even some that are accounted for are misappropriated, mismanaged or embezzled.
Soludo has not said he can't proof it... Why is the government not even willing to beam their searchlight on it... Is it not worth illuminating?
Moreover, soludo's figure was an estimation. It may be more, it may be less. The cogent point is monies in trillions are claimed to be unaccounted for... What do we do?

http://leadership.ng/news/409541/insist-n30trn-mismanaged-okonjoiweala-soludo

Funpeter:
We all know that this government is a corruption itself, so there no need to cry foul.
For the past 6 yrs let pdp tell us or name one person they have found guilty of being corrupt or are they saying we are all saints?
If they can do, then am gonna vote GEJ hundred times.

Amya:
Mr Soludo, can you lose what you do not have? Is this not a clear case
of counting your chickens before they're hatched?

Amya:
I'm not an economist but I think that soludo is talking from both side of the mouth.

When facts were presented that Nigeria can't simply lose what they never had, he started talking about mismanagement and theft. We can only calculate loss through income, not would be income or should have been income.

someone desperately grasping at straws.

KwoiZabo:
Jonathan has ruled this country for 4yrs 9months not 6yrs if you feel Goodluck failed then vote whoever but i know that Goodluck will emain as president till 2019

Demdem:


U still don't get it do u?
These money are supposed to go to the national purse but they never got there because of actions and inaction of Jonah-daft cohorts.
In otherwords, we lost what we were suppose to have.

Demdem:


But u are Jonah-daft cocck sucker, so I don't expect u to think straight.
Go back to his previous articles, he surely mentioned mismanagement and theft. Soludo has been consistent so far.

themano:

So all those agencies have no expenditures and overheads? Nairaland talk is cheap.

Amya:


Can you make a sound argument without resorting to insults and name calling? Why do you have to sink this low. Do you hate yourself that much.

Shut ur trap. I do to the fool what ur type does to other leaders that aren't in Jonah-daft camp. Hypocrite, show me ur criticism about those ones first.
[s]
Oil theft has been a thing from time immemorial. People who bunker oil always have ready-made justifiable reasons for doing so. And the eyes of the government/law enforcement can't be everywhere at once. So, oil theft will always happen except those involved have a change of heart. Blaming the government for oil theft is farfetched. Now about mismanagement, I really don't see where it fits into this context.[/s]

Spare me ur rant goon. Is it not the same govt that has spent billions to militants to secure pipelines?where are the justification for money spent? So since govt can't secure pipelines, it's demdem that will come and secure it for them? Why do we have leaders then? U don't sound OK? Are u by this confirming that indeed no gas goes into that plant?

Amya:


I'm sure the money got to the national purse during Obasanjo's time.

PointB:



The problem with Soludo's message is the motivation. By saying that the money is either 'stolen, unaccounted for, or mismanaged', Soludo gives himself away as someone who is unsure and casting nets into the sea in frantic acts of desperation.

Let's break it down into simpler units:

- Stolen
If N30 trillion is stolen, it simple means that the money made it's way into the system, accounted for, and then stolen by someone or group

- Unaccounted for
This simply implies that the money was not received as income, and subsequently no trace of it

- Mismanaged
This implies that the money was accounted for, not stolen, but was used in unprofitable venture.

If Soludo was indeed trying to help and has indeed done his homework, he would have been more specific on what happened to the money. His use of 'or' is indicative of uncertainty.


Back to our Hotel analogy, as a former manager, Soludo should have shown more competence by telling us exactly what he knew happened to the money, rather than making sweeping allegation with unverified humongous figures.

And Solodu needs no special invite, he knows exactly how to reach the government or the people of Nigeria with facts if he has any; conjectures such as the one he's peddling and the timing speaks volume of political undertone. He's far from being an honest broker!

Having said that, government in the past have also admitted to several loopholes in the system; they should work harder at plugging as many as are identified.