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Nairaland Forum / Nairaland / General / Politics / APC Have Destroyed Our Economy. (3841 Views)
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APC Have Destroyed Our Economy. by mekaboy(m): 9:15am On Jan 13, 2016 |
The dollar sells for N300 today, thanks to APC. Their supporters will come to either blame PDP or the oil price. But i can recall as far back as 2012, Okonjo iweala foresaw what we are facing today and tried to be proactive. So tried to convince the governors on the need to save for this rainy day. Amechi ensured that the money from the excess crude was shared. The needed all the money they could get to fund their parralel govt. This enabled amechi to host one man with 86m while Fashola could re brand his site with 78m. That rain madam iweala spoke about have started falling and the presidency abandons the economy in the hands of an amateur chasing after corruption. God help Nigeria. 23 Likes 3 Shares |
Re: APC Have Destroyed Our Economy. by psucc(m): 9:17am On Jan 13, 2016 |
Gradually it will get . . . |
Re: APC Have Destroyed Our Economy. by mccoy47(m): 9:20am On Jan 13, 2016 |
Mumu spotted! 1 Like |
Re: APC Have Destroyed Our Economy. by mekaboy(m): 9:22am On Jan 13, 2016 |
psucc:I pray it does. |
Re: APC Have Destroyed Our Economy. by Nobody: 9:23am On Jan 13, 2016 |
Op...you are as brainless and clueless as GEJ....otherwise you should know Naira loosing its value is as a result or the previous bad adminstration. Learn to always use your brain 8 Likes
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Re: APC Have Destroyed Our Economy. by mekaboy(m): 9:42am On Jan 13, 2016 |
Freiden: And Amechi who insisted the excess crude funds be shared with the governors is entering govt for the first time abi? 20 Likes |
Re: APC Have Destroyed Our Economy. by comos: 10:15am On Jan 13, 2016 |
we don enter one chance in APC government 7 Likes 1 Share |
Re: APC Have Destroyed Our Economy. by 9jatriot(m): 10:40am On Jan 13, 2016 |
The governors gave a reason at that time why they wanted it shared. They claimed that FG was making illegal deductions from it and so wanted their share before FG finishes it. Moreover, the states only shared about 40% of it, if FG (NOI) was prudent as they would have us believe, why did they not save their share of the money rather than deplete all the reserves that was in stock? Also, the governor's forum at that time were able to get the money from GEJ because he wanted to contest the 2011 election and would accent to any demands made which the governors capitalized on, the same way he depleted the national treasury for 2015 elections. OBJ would never had shared that money neither will PMB even if it would cost them an election, so the bulk of the issue still lie on the table of GEJ for not showing leadership. mekaboy: 3 Likes |
Re: APC Have Destroyed Our Economy. by LordAdam: 10:41am On Jan 13, 2016 |
Came here to observe the blame game. For many in the North, they do not know the difference between now and before because they are perpetually at the bottom. Continue hating on GEJ. Even if naira to dollar hits 1k, they will still say it was because of the massive looting under GEJ. Never in the history of this country have we found a convenient scapegoat like GEJ. Even the Christians don't blame the devil as much for their predicaments. -Lord 19 Likes 1 Share |
Re: APC Have Destroyed Our Economy. by olaboy001(m): 10:42am On Jan 13, 2016 |
Freiden:Forgive the OP, nah small pikin dey worry am 2 Likes |
Re: APC Have Destroyed Our Economy. by Nobody: 10:42am On Jan 13, 2016 |
Our source of dollar is oil. Oil price have drop from 100 dollar to 30 dollar. So what are u saying? Do u think CBN print dollars? It means d quantity of dollar we get a month has drop by whooping 70%. And u expect miracle. Some people are just deluded. 5 Likes |
Re: APC Have Destroyed Our Economy. by LordAdam: 10:51am On Jan 13, 2016 |
9jatriot: Oga, by 2011, it had only been 1 yr since GEJ won the elections, and there was the rumor floating that he wouldn't contest again, it made no sense to accede to their demand because he wanted a re-election. OBJ and PMB may not have done it, but GEJ was different. It was under GEJ that for the first time, we didn't wake up to the calls of marginalization and secession in this country. Clearly, it is a crime to accord everybody equal reigns in this country. People will misuse it and still find ways to blame the giver. GEJ used the FG share to fuel the economy. What did the Governors use theirs for? Aside two or three governors, how many used the 40% they got judiciously? Is it not convenient that after agreeing with Jona to remove the subsidy, the same governors backtracked to stand against the President when it was time to remove the subsidy. Only for them to be talking about sharing the small savings the FG made. It is impossible to please Nigerians. No one is seeing how the state governors swindled GEJ, taunted him, then asked him to share money that they did not use for anything tangible, and now want to blame GEJ. And people like you will also join to blame GEJ. What did Amaechi and Saraki do with their share. In 2019, APC will start campaigning using dasukigate to try to make excuses for not performing. And as expected the North and the West will guarantee the non-performer gets a second term because he vilified GEJ. May your hate for GEJ not make you impotent. -Lord 13 Likes 1 Share |
Re: APC Have Destroyed Our Economy. by mekaboy(m): 10:51am On Jan 13, 2016 |
9jatriot: In other words they wanted to fund their own election abi? We can see how they spent the money, If Fashola could spend 78m on personal website, who knows how much he spent on other projects. Hope you know how much debt he left lagos state in? If amaechi could spend 86m to host 1 man, who knows how much he spent on other projects. Upon all the warning of the rainy day, they shared and still spent recklessly. They could not even pay salaries after sharing. Most times people try to make it seem like the APC. members just got into govt for the first time. They refer to the bad previous administration as if those in APC were never part of. Nobody is asking how their elections were funded. 7 Likes |
Re: APC Have Destroyed Our Economy. by 9jatriot(m): 10:55am On Jan 13, 2016 |
If the governors in this country were performing, then people would not have noticed that much the failure of the federal government. I do not hold fort for the governors, actually for want of a better word, I hate most of them, however in this case, GEJ was clearly wrong. I was not talking about his re-election, he shared the money when he was still acting president after Yar-dua had died, except my memory fails me. LordAdam: |
Re: APC Have Destroyed Our Economy. by lionness(f): 10:56am On Jan 13, 2016 |
When GEJ depleted the nation's reserve, ECA, and borrowed $ to fund his ambition, these same cockroaches were busy calling him their brother, and chanting long live Nigeria. Now that the house of cards has fallen, its APC's fault. Awon weeeerey dede! 2 Likes |
Re: APC Have Destroyed Our Economy. by 9jatriot(m): 11:01am On Jan 13, 2016 |
Everyone knows they needed the money for them to have more to steal under the guise of providing more amenities, I am not holding forte for the governors but in this case GEJ was clearly wrong, he should not have accented but his lust for power would not allow him so he was easily blackmailed because he was lusting for power which the north felt at that time (2011) should come back to them. Poor leadership quality if you ask me. If in 8yrs all the dirt you guys can find on Fashola is 78M, whereas Metuh who was not even a governor but a PDP spokes is hold between 400M - 1.2B, then I go say Fashola try then. PMB elections was generally funded by donations from ordinary individuals. You remember one old woman that gave her last one million to PMB. I remember a nairalander posting his own window's mite contribution during the election and they were many others like that. mekaboy: 1 Like
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Re: APC Have Destroyed Our Economy. by LordAdam: 11:06am On Jan 13, 2016 |
9jatriot: The clout the NGF pulls in Nigeria is humongous. They are equal partners with the federal government in Nigeria, if they request for it to be shared, GEJ would do same or be termed a dictator. Let me put it this way, Nigeria was growing at the fastest rate for the first time since the early 80s, what money do you think was used to fuel the growth. Some people don't think. Was there looting under GEJ? Yes, whoever says no is high on cheap drugs. But the performance recorded by his government is unparalleled in the history of this country. If we had more Fash and Akpabio handling the states (even with their looting), the weight on the FG would have been reduced. Everybody seems to fail to see the notion on which GEJ ran his government--INCLUSION of everyone in the government regardless of ethnicity, language, religion, and gender. It is absolutely no fault of his that those that had the opportunity to make impact with the privilege they had, chose not to. -Lord 7 Likes 1 Share |
Re: APC Have Destroyed Our Economy. by mekaboy(m): 11:13am On Jan 13, 2016 |
9jatriot: You are wrong to say that all we could find on Fashola is 78m. Even the 78m we know about is just a small window opened abode opened for us to peep through. Fashola refused grant people the freedom of information on the spending of his govt. He said the bill does not apply to his state. So how do we get more info? 4 Likes |
Re: APC Have Destroyed Our Economy. by 9jatriot(m): 11:16am On Jan 13, 2016 |
On the bolded, I agree with you. You can include Obi, Chime, Kwakwaso and a few others to that list On being termed a dictator for saving the national money is not true. OBJ started excess crude funds saving for days like this when crude prices go down, that was why the bench mark used in budgeting was always lower than the prevalent crude price. If he had come up with a superior argument and probably resorted to the national assembly or even the courts to do it, he would have been applauded. Nigerians view politicians as thieves, so he would have been seen as protecting the ordinary people and not a dictator, NGF tried all these tantrums with OBJ, he refused and heavens did not fall. GEJ's lust for power without a spine was his undoing in 2011 and his undoing in 2015. Let me not even go far, do you really think PEJ would not have been able to say no to NGF and still win the election in 2011? LordAdam: |
Re: APC Have Destroyed Our Economy. by LordAdam: 11:20am On Jan 13, 2016 |
9jatriot: Do you know about the N130m borehole by Fash. And by the way, he is been protected by the fact that he is a member to the ruling party. In any case, Fash's case is not the real deal. He looted, but he also performed, which is a rare trait in the Nigerian polity. If he can be celebrated, why can't GEJ. The reason is simple, because two regions hated the fact that someone from the minority led them for 5 years. He built more roads than any other president, it was not enough. He maintained the growth rate of the economy at an average of 6%, first ever in Nigeria, it was not enough. He revamped the agricultural sector, it was not enough. He revitalized the rail sector, it was not enough. He revitalized the automobile manufacturing industry, it was not enough. What would he have done, send all 180m of us paychecks every month? He appointed a Northern oligarch to head Nigeria's foremost security agency. The person used the opportunity to share money. He appointed military top brass from all the regions as service chiefs, yet they still found a way to accumulate over N1t in their accounts. What all this looting allegations show is that one man gave Nigerians of all creed and ethnicity the chance to help better the economy and they all failed woefully. Whether you are from the ND, SE, North or West, someone from your ethnicity had a chance to better the commonwealth and instead robbed all of us blind. It shows what we are fundamentally as a nation. Changing parties does not change that fact. Tell me what other reason will prompt millions of naira to be spent to furnish a driver's lounge in Aso rock, or why hundreds of millions will be used to provide recreational facilities for the president. No one is paying mind to the misappropriation going on in the states. Everyone is fixated on GEJ, because he chose to be inclusive in his government. Allah forgive those that accuse a man for the sins of others. -Lord 4 Likes |
Re: APC Have Destroyed Our Economy. by 9jatriot(m): 11:21am On Jan 13, 2016 |
Bros, that info had always been on the government website long before Fashola left office. Fashola's enemies did not want him to be a minister so they began to look for mud, when they could not find mud, the used dirt or stains (at least at all at all na em bad) but 78M could not have destroyed the economy the way trillions and billions of dollars would. mekaboy: |
Re: APC Have Destroyed Our Economy. by mekaboy(m): 11:27am On Jan 13, 2016 |
9jatriot: I guess it his enemies that awarded the contract, abi. 1 Like |
Re: APC Have Destroyed Our Economy. by LordAdam: 11:28am On Jan 13, 2016 |
9jatriot: OBJ used the same tactics for the third term presidency and failed. OBJ did not come up with a superior argument, he ruled a one-man government and silenced opposition whenever he got the chance to. Remember how Nebo found that electrical equipments purchased by OBJ stayed in the ports for 14 years till he found them. OBJ had no economic agenda, did virtually nothing in Nigeria, and left so much money in the reserves because he did not carry out any meaningful project. As I said, GEJ ran an inclusive government. OBJ did not. Remember why NOI resigned even after helping us clear out $30b+ external debt. I would put this to you, do you prefer autocracy or democracy? The members of NGF are elected officers of the nation, they have just as much stake in the nation's government as the president. When 35 governors come together to ask for sharing, even Obama will accede to their request. Democracy is a government of the majority. GEJ is not Putin!!! -Lord 5 Likes |
Re: APC Have Destroyed Our Economy. by obailala(m): 11:29am On Jan 13, 2016 |
A very valid question has been asked, Jonathanians complain about others putting the blame on only GEJ's head however they ironically want to put the blame of the depleted ECA on Amaechi's head. 1. If you guys want to put the blame on Amaechi for the squandering of ECA, was Amaechi the only governor in Nigeria?... as a matter of fact, were there not much more PDP governors in Nigeria at that time? 2. If you claim that GEJ was arm-twisted to share the money by governors, was OBJ and Yaradua not also arm-twisted and even taken to court?... Why did it have to be GEJ who succumbed to pressure in just a matter of months?... Isn't that a clear sign of weakness and poor leadership as we have always pointed out?... Someone said GEJ isn't a dictator hence he fell for the trap, in that context, wouldn't it have been better for GEJ to be a dictator and save the nation from this present turmoil than be a wimp and put the nation in a mess? 3. If the governors were blamed for taking the ECA funds, the last time I checked, states will take only 40% while the FG would retain 60%. If GEJ was really proactive and willing to save, so what on earth happened to the remaining 60%?... From my calculations, GEJ met $20billion in ECA and shared $8bn to governors, so what on earth did GEJ do with $12billion?... Or did Amaechi also swallow that chunk? 4 Likes |
Re: APC Have Destroyed Our Economy. by 9jatriot(m): 11:29am On Jan 13, 2016 |
In over 8yrs of FAshola's administration the accusation against him is 130M for borehole and 78M for website totally 208M in 8yrs. Now to Metuh what state was he governor that he is being accused of between 400M to 1.2B and not even in 8 yrs. Like you said, he is a rare gem in Nigerian politics. Now to the claims that GEJ build more roads in Nigeria, I don't understand. third mainland bridge is acclaimed as the longest in Africa, tell me the one road that you claim GEJ build that is longer than that. Am not aware of any new road (I mean a road build from scratch) that was build by GEJ's administration. Most of the roads he attempted were already existing roads that were repaired, does that equate to building the highest number of roads in Nigeria. In terms of appointments, OBJ ran a far more inclusive government that the claim from GEJ. OBJ even had ministers outside his party, so please don't buy the lie that he appointed more people. LordAdam: |
Re: APC Have Destroyed Our Economy. by mekaboy(m): 11:34am On Jan 13, 2016 |
9jatriot: |
Re: APC Have Destroyed Our Economy. by LordAdam: 11:39am On Jan 13, 2016 |
9jatriot: Bros, read the news... http://www.360nobs.com/2015/12/438561/ Na Fashola, Minister of Power, Work, and Housing nai talk am no be me. I cannot speak for Metuh, same way you cannot speak for the APC chieftain that returned N100m To the bolded, I hate to say this, but you shouldn't have been allowed to vote. Why? Because you are easily swayed by propaganda. I am very positive that your ilk were among those that said the rail sector improvements was a farce only for Ameachi to say he did not know that the rails were working. OBJ appointed for the sake. GEJ appointed more women and people from more ethnic groups that had more privilege to enact transformation. The current AfDB president who was the former Agric minister was a Yoruba man. The former minister for trade and investment was a Yoruba. NOI was a ND. Nebo was a SE. He appointed service chiefs from the N to address the BH plague. Be a true Nigerian, do your own research and don't fall for lies. It will do you more good. -Lord 4 Likes |
Re: APC Have Destroyed Our Economy. by 9jatriot(m): 11:44am On Jan 13, 2016 |
Despite OBJ's third term bid, he did not bulge on excess crude fund account. Am not sure if that led to the failure of that bid, I think we have Ken Nnamni (then Senate president) to thank for the failure of that bid. At least, that means that even the lust of power did not make OBJ agree to expend the cash. NOI's redeployment and final resignation was not cause of ECA. LordAdam: |
Re: APC Have Destroyed Our Economy. by NOLONGTIN1(m): 11:49am On Jan 13, 2016 |
One thing APC has succeed in Nigeria is making our youths talk like illiterates. Every bad thing in Nigeria is blamed on GEJ and good on Buhari. I didn't even study economic to understand that Buhari and APC are a big reason our economy and currency is going downward When GEJ was president our economy was better, a lot of foreign agency rated it high. Some people voted change and instead of it to get better, it's getting worse and you blame the previous govt. its just like voting a new governor in Osun state and he takes the states backward and claims it's because of the old government.....let me not divert. Economies are not run by themselves, it needs competent hands to formulate policies and direct it. As bad as you said GEJ was, foreign investors didn't run away, his team made sure the global economy recession didn't affect us, when oil prices went down, he made sure Naira didn't nose dive and was still foreign investors haven. Since Buhari came everything has gotten worse and he blames GEJ, I keep wondering why he was put there in the 1st place. I am 100% sure that if GEJ was our president the Naira would never fall this low.....The guy had experts/technocrats running the country. 6 Likes |
Re: APC Have Destroyed Our Economy. by LordAdam: 11:51am On Jan 13, 2016 |
obailala: 1. APC governors agreed with PDP governors, so your attempt to separate parties is dead on arrival. 2. We have a dictator who disrespects court others and boldly preach marginalization, how has the economy faired under him? Is he not still sharing the money with NGF? What did he use to bail the states out? We run a democracy, you can't eat your cake and have it. A president does not have to waste Nigeria's money on court cases when the NGF should be partners in progress not foes. You cannot have a Putin and an Obama at the same time, or a Mother Theresa and a Beyonce in the same body. Choose one. 3. Have you stopped to wonder how the economy maintained its average of 6% growth rate under GEJ? GEJ had two options, get down to work which needed investing most of the cash we made or do nothing and accumulate money in reserves that amount to nothing. OBJ chose the latter, Yaradua chose the latter, GEJ was elected to do the former and he did. He has been vindicated by APC stalwarts like Fash and Amaechi to have made more contribution to Nigeria's transformation than any president in the history of the nation. If he hadn't used the money, we would have still been living in the past. It takes money to make money. It is not his fault that people he appointed to help stir the economy in the right direction turned out to be economic saboteurs. At least, now we now know no ethnicity in Nigeria is a "saint" ethnicity. Jonathan is not the architect of Nigeria's problem, people like you that are quick to blame people for the failures of yourself, your family, your community, and your ethnicity are the architects of Nigeria's problem. -Lord 2 Likes |
Re: APC Have Destroyed Our Economy. by 9jatriot(m): 11:52am On Jan 13, 2016 |
Nope, LASG tender board did, at least that was his defence. mekaboy: |
Re: APC Have Destroyed Our Economy. by LordAdam: 12:03pm On Jan 13, 2016 |
9jatriot: A lot of people played considerable roles in rejecting the third term bid, and we and our progenies will be forever grateful to them. I applaud the amount saved up in the excess crude fund. Part of it was NOI's idea, and the ECA and buoyant federal reserves was instrumental to Nigeria weathering the 2008 financial crisis without entering into recession. But you should ask yourself, Nigeria's oil may be exhausted in less than three decades time, the price of oil has risen and fell about four times in the last two decades, does it make sense to only save money and not use what we make to diversify the economy and create much-needed infrastructure and an enabling business environment? Are you now saying that the NGF is anti-transformation? If yes, then whose fault is it, GEJ or you a Nigerian citizen who voted the a-holes to power? GEJ was facing plenty of opposition in his government. The Northern Elite had said they would make the nation ungovernable for him. BH was raving. Piracy in the southern waters was raving hard. The glut in the nation's economy was becoming unbearable. He had an irresponsible opposition that thrived on lies and made unthinkable assertions like running a parallel government, and major opposition figures that never for once tried to help his government work even after been repeatedly invited. How many battles did you expect him to fight and win? Fighting the NGF was useless, he needed their support to remove the subsidy, which didn't play out obviously. And the money requested by the NGF was supposed to be used to better the states, which would have been a right thing and would have helped the nation's economy. So don't play GEJ for being spineless, blame the governors for being brazenly corrupt, irresponsible, and been enemies of the people. -Lord 1 Like |
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