APC as led by Buhari keeps looking for excuses for their failure as evidenced by their supporters, notwithstanding Buhari being in the race for 12years with NO DEVELOPMENT BLUEPRINT; embarking on campaign with NO VALID plans, and winning election to finally declare EXCUSES galore. It is a fact that a failure will always have excuses and rather than accept responsibility for his failure or ineptitude will rather choose to blame others than himself for his self-induced destruction and failure.

Most APC governors and supporters blame Jonathan/PDP for their failure and indebtedness. Which is a BIG LIE and a lazy man's way of not taking responsibility. Why is a state like Anambra operating in same economy under same condition owes NOBODY any kobo, yet enjoys optimum infrastructure development, prompt salary payment, and still NOT an oil producing state

Another of their lies is that PDP destroyed Nigeria economy in the last 16years...To this group, I throw these questions from economic development indices point of view?

1)Did average Mortality rate not reduce since PDP took over in 1999?
2)Did Natality rate and average life expectancy/span not extend under PDP?
3)Did Nigeria economy not improve to overtake all others in Africa?
4)Did Nigeria economy not grow at an average of 8% in the last 10years?
5)Did we not experience infrastructure rebirth under PDP leadership?
6)Did democracy not grow under PDP watch?

Now, to the lies, half truths and deceits contained in Passingshot thread https://www.nairaland.com/2592360/re-see-what-happening-nigerias

1)Nigeria has always battled with this challenge of more recurrent expenditure as against capital expenditures since Adams and it can only be solved by either cutting down salaries or retrenching workers. None of these is feasible for a truth. 2015 budget has Education getting highest allocation in the light of Jonathan's love for education. Remember, the unprecedented success story of PRESSID program.

2)Also, note that such ongoing projects like 2nd Nigeria bridge, Airport Remodeling etc has been captured and funded through different facilities; hence no need for them to be reflected in 2015 budget again. In all, capital expenditures took over 30% NOT 10% in the budget. http://thenationonlineng.net/fed-govt-borrows-n473b-to-pay-salaries-overheads-in-four-months/

3)Any reasonable government that has important projects can always access supplementary budget if need be. APC has NONE.

4)Oil price benchmark in 2015 budget is $53dolllars. It should be noted here that price of oil fluctuates either positively or negatively but NOT constant. So it is deceitful for anybody to peg it at $47 like he did.

5)Jonathan borrowed N437b NOT $4.4b or whatever figure to AUGMENT salaries for FOUR MONTHS. http://thenationonlineng.net/fed-govt-borrows-n473b-to-pay-salaries-overheads-in-four-months/

6)Jonathan met about $47.7b in FR and left about $29.9b thanks to exchange rate differentials, subsidy variation, and recurrent expenditure increase.
Yes, Oil sold at its peak so also did other legal expenditures. Remember, Obj paid 7500 to workers while Jonathan paid 18000(more than 150% increase); Obj paid 9700 to NYSC, Jonathan paid 19800(check percentage difference too). Not minding other great infrastructure investment like Abuja/Kaduna standard gauge, Lagos/Ibadan road, East/West road, etc

7)Jp Morgan delisting Nigeria have their reasons all pointing to Buhari's crass ignorance in governance, lack of economic leadership and no economic policy or direction. ALL these has NOTHING to do with Jonathan. Warning was issued in January due to election fears. BUT another warning was issued in JUNE before this sanction.

Read; While most of the weakening sentiment is due to the more than halving in oil prices since last year, a series of missteps by the central bank and President Muhammadu Buhari’s delay in appointing an economic team are adding to the slide. http://www.bloomberg.com/news/articles/2015-09-10/investors-love-affair-with-nigeria-wanes-as-jpmorgan-cuts-bonds

Same reason of Buhari ineptitude applies to recent event of SME's losing business, downsizing, closing down or sacking people; http://www.channelstv.com/2015/09/08/nlc-says-60000-nigerian-workers-lost-jobs/

Same story to NSE; http://www.vanguardngr.com/2015/07/stock-market-investors-lose-n1-032trn-in-2-months/

Same here; http://www.premiumtimesng.com/business/4819-zenith_bank_sacks_over_1_200_employees.html

Same thing; http://www.vanguardngr.com/2015/08/nigerian-economy-slows-in-q2/

How does this concern Jonathan? With no finance minister in place, foreign investors have been left wondering about government policies and struggling to sell shares or bonds as the central bank adopted tough currency restrictions to halt a slide of the naira. Anders Faergemann, senior sovereign portfolio manager at PineBridge Investments, told Reuters that he was surprised that Buhari had not started tackling the country’s economic problems more than three months into his tenure. “As an investor it is flabbergasting that the Nigerian authorities have allowed themselves to be put in this situation,” he said. http://www.dailytrust.com.ng/news/business/stocks-lose-n311bn-bonds-suffer-after-jp-morgan-index-expulsion/110194.html

How can any sane man or government dismiss loss of Chinese investment portfolio with a wave of hand? http://uncova.com/china-snubs-nigeria-over-buhari-as-it-holds-africa-investment-summit

China our foremost trade and investment partner under Jonathan with over $40billion portfolio for Nigeria & Africa? China that's providing numerous jobs and employment opportunities for us?
Even Americans run to China now for jobs?

Suffice to say that, Buhari has been in power for more than 3months yet keeps telling stories and inventing more excuses. Fighting corruption on newspapers only, Blocking leakages on media and mounting campaign of calumny against Jonathan daily. SME's that are engine of every economy are folding thanks to CBN monetary policy. We have just economic friendship both from West & Asia. So which way Nigeria?

God bless us all...

Lalasticlala Obinoscopy Seun

Hmmmmmm

How long are we to continue wailing?

2019 is far oooo

lemme read...

#in_Akon's_voice..... "hopping for the best but expecting the worst

That is a lot of write up

It is called putting things in their proper perpestive!

Wailing wailers can only wail and nothing else. Some people really need artificial brain to augment their dead brain cells.

It is the part that you wrote JP Morgan wrote to this govt in JUNE that just put the investors on their heeks

keep wailing........it is ur destiny

No 6 and subsidy payment drained govt purse like basket to hold water

I don't know PMB has not identified any supplementary budget but how when you don't have a working cabinet

As long as the guys want to be lied to by the apc .
What can you do,the APC likes being aligned to telling lies.

Dharniel:
lemme read...

OK..read and comment plz

Cc. SeverusSnape

benedictnsi:
#in_Akon's_voice..... "hopping for the best but expecting the worst

We wish buhari well but they must not intimidate us with lies or blackmail or pull others down to move on ...

baralatie:
That is a lot of write up
It is called putting things in their proper perpestive!

We can't be made to accept lies for a truth...

Face it the economy is choking under Buhari body odour

emmyblackky:
Wailing wailers can only wail and nothing else. Some people really need artificial brain to augment their dead brain cells.

Buhari needs all the prayers and brains he can get now...though not the kind APC folks are throwing around now...

Upnepaa:
keep wailing........it is ur destiny

In so far the wailing keeps us moving positively it won't end anytime soon

dmandy:
Hmmmmmm
How long are we to continue wailing?
2019 is far oooo

Just be around to be counting time for us all

NICE POST LETS WATCH THEM, LIARS DEFEND THE INDEFENSIBLE

Whynotthetruth:


Just be around to be counting time for us all

Amen.

One more thing, whenever you notice any good thing, do well to acknowledge it as well.

baralatie:
No 6 and subsidy payment drained govt purse like basket to hold water

That's the fact...but these guys dubiously claim ignorance of this ...

dmandy:


Amen.

One more thing, whenever you notice any good thing, do well to acknowledge it as well.

Be sure I will...I am not allergic to good news ...but truth remains they are off the track so far ...

Ezenwammadu:
Face it the economy is choking under Buhari body odour

Every economy needs to be constantly maintained otherwise it will deteriorate with no end especially at a point of crisis like now...Buhari doesn't seem to acknowledge this fact hence allows our economy to slide away while fighting corruption in the newspapers

Cc. Hinwazaka ...TruthtoPower

erunz:
NICE POST LETS WATCH THEM, LIARS DEFEND THE INDEFENSIBLE

Nah bro

Nigeria is meeting it's worst moments of its life since its birth. The effect of Buhari's guestures can't be over-emphasized positively as it's also causing more bad than good. When i read the article about China one of our greatest benefactor economy wise, i was shocked to my bones also by the way he his reacting to it. Sure China needs Nigeria but not as much as Nigeria needs her, she can always get her Oil somewhere else but for Nigeria, we have limited buyers for our Oil. Also even if he doesn't want to install a Finance minister or other ministers it may concern he sud have a good adviser as the regards the economy. His attitude towards Nigeria's economy is bad. He should try to strike a balance between fighting corruption and enhancing the economy.

Olamitisoji:
Nigeria is meeting it's worst moments of its life since its birth. The effect of Buhari's guestures can't be over-emphasized positively as it's also causing more bad than good. When i read the article about China one of our greatest benefactor economy wise, i was shocked to my bones also by the way he his reacting to it. Sure China needs Nigeria but not as much as Nigeria needs her, she can always get her Oil somewhere else but for Nigeria, we have limited buyers for our Oil. Also even if he doesn't want to install a Finance minister or other ministers it may concern he sud have a good adviser as the regards the economy. His attitude towards Nigeria's economy is bad. He should try to strike a balance between fighting corruption and enhancing the economy.

1)China has about $40billion investment for Africa with Nigeria as primary beneficiary as at Jonathan term...

2)China relationship with Nigeria was part of the reason US fought Jonathan... but he snubbed them for China...Now, we are pushing them away again...

3)China is our biggest trade partner and we can hardly afford to live without them...Snubbing us now means they would benefit as we import from them while we benefit Nothing from them...

4)China offers not just economic but also technical support to us...so how can we afford such loss?

Whynotthetruth:


Every economy needs to be constantly maintained otherwise it will deteriorate with no end especially at a point of crisis like now...Buhari doesn't seem to acknowledge this fact hence allows our economy to slide away while fighting corruption in the newspapers

Cc. Hinwazaka ...TruthtoPower

Time shall tell.

TRUTHTOPOWER:

Time shall tell.

Looking at original post...what feeds your faith?

Right from d days of Adam and eve, Apc have been known to tell lies

Whynotthetruth:


Looking at original post...what feeds your faith?

Senator McCain Campaign came crashing in 2008 when he declared that the fundamentals of the American economy was strong. Wall Street collapsed before he had time to reflect on his press statement. When you hear the slogan 'it is the economy,stu.pid' as used by Clinton, it talks about soccer mums and Joe the plumber, how their families can get mortgage, health insurance, and purchasing power.

There must be connection between your statistics and the experience in the labour force (soccer mums and Joe the plumber)

Now hear this. NBS said 54% of Nigerian Youths were unemployed. (2012) According to the stats, it translates to 30 million. So the challenge before NOI and PDP was not rebasing GDP or bringing FDI. those are measures not results in policy articulation. the challenge was drastic reduction in employment rate. These implies doing something about inflation and lending rate for the sake of the challenge not as goals or ends of economic planning. Pls read Soludo on missing trillions. ignore the stealing aspect if you are not comfortable with that just concentrate on the relationship between measures and effect
vanguardngr.com/2015/02/ngozi-okonjo-iweala-missing-trillions-1-charles-soludo/
NOI et al promised 2 million jobs per year in order to address the deficit of 30 million. by 2019, 22 million would still be unemployed. When you add new entrants of 2million per year to it. The proposal of NOI did nothing!

So what is the point of YouWin SureP, FDI. Admittedly they benifited the individuals who got slices of the national cake just as political handouts benefit party footsoldiers.

My Faith: Discipline and fear of moral reproach! That is the starting point. GEJ govt by his own admission saw nothing wrong in Fiscal rascality. he abeted felony, to wit, embezzlement and extortion, hellooooo! others are guilty is not a defence!

The task before us is having kicked out indiscipline what can we do? That is in addition to the original plan of the new administration.

However if you believed your time is better served by romancing the corpse of a dead administration, it is your choice.

By the way, where do you think NOI is and what do you think she is doing? she is writing a book to tell the world that she is not responsible for the the documented crimes you are here claiming are nonexistent. Don't ask me how I know.

@whynotthetruth, I stopped having conversations with you long ago due to your childish insults, but I'll try you once again.

Now, some of what you stated up there is true, except that we have no statistics to compare your submissions with; APC has not been at the central government long enough for us to know the difference! Just 3 months and you're already making comparison with a 16 year PDP government, what's your point exactly?

Nigerians' problem with OBJ the previous govenment of GEJ (infact, PDP in general) was not about good monetary or fiscal policy, but CORRUPTION, executive IRRESPONSIBILITY and absence of LAW ENFORCEMENT. I am talking about the central government here

Whynotthetruth:


1)China has about $40billion investment for Africa with Nigeria as primary beneficiary as at Jonathan term...

2)China relationship with Nigeria was part of the reason US fought Jonathan... but he snubbed them for China...Now, we are pushing them away again...

3)China is our biggest trade partner and we can hardly afford to live without them...Snubbing us now means they would benefit as we import from them while we benefit Nothing from them...

4)China offers not just economic but also technical support to us...so how can we afford such loss?

Wonder what Buhari has as a plan. Does he there thing US can replace China in Nigeria's economy. I pray he re-think fast or we go 20yrs back in time.