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Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration - Politics (3) - Nairaland

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Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by amtaken(f): 11:06pm On Apr 15, 2016
Tell the APC zombies who can't read between the lines before jumping into conclusions like a frog.

1 Like

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by Destinylink(m): 11:06pm On Apr 15, 2016
Excuses!
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by amtaken(f): 11:13pm On Apr 15, 2016
There was no political will under GEJ because he lost in the Supreme Court case in which Amechi and other APC governors asked the court to compel him to share the saved money among the states, using the constitution as a back up.

seunmsg:


She said there was no political will to save under GEJ, so tell me, who holds the political will to save, governors or the president?

Under OBJ, who gave the needed political will to save when governors of that era also opposed saving vehemently?
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by amtaken(f): 11:16pm On Apr 15, 2016
Name one Governor that sued OBJ for same reason.


seunmsg:


She said there was no political will to save under GEJ, so tell me, who holds the political will to save, governors or the president?

Under OBJ, who gave the needed political will to save when governors of that era also opposed saving vehemently?
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by sweetgala(m): 11:18pm On Apr 15, 2016
AntiWailer:


Before wailers wail, She did not deny her statement that Jonathan did not Save she is only doing damage control.

The question is : How did Obasanjo save ?

I don't blame Jonathan he can use anything to negotiate

Obasanjo left a brilliant reserve of over 20 billion while also re-negotiating our national debt, please take note this was at a period when oil sold for 40 DPB max and averaged at around 27 DPB.

During GEJ we had our most buoyant days in terms of oil prices and that is why many Nigerian business men and corporate suits feel the pinch now because over the past 5 years most Nigerians have been feeding off the FG largess, the government was sharing money freely, every ministry , every department and even the NASS was involved in the inflation of contracts, the allocation of duplicate contracts, contracts to purchase equipment purchased the previous year and fictitious contracts to supply a non existent product or service.

It is only rights that when these sources of funds exiting the national coffers are plugged the many beneficiaries would cry out. These include the corrupt civil servants, the NASS enablers, political jobbers, secondary beneficiaries and banks.

4 Likes

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by wirinet(m): 11:20pm On Apr 15, 2016
chukwudi44:


NOI and GEJ had the political will to save and actually communicated that to the governors who resisted and led by Amaechi and Fashola went to the supreme court to get an order compelling the FG to share the money.Anyone who still blames GEJ after these disclosures is demented.

Was it also Amaechi and Fashola that made Jonathan borrow $6.3 billion and deplete our foreign reserves by $10 billion inspite of crude selling at over $100 for most of his tenure?

Here is external reserves and debts left by Obasanjo, Yaradua and Jonathan;

1. OLUSEGUN OBASANJO (1999-2007)
EXTERNAL DEBT:
Inherited: $30 billion
Cleared : $18 billion
Paid: $ 12 billion Dollars
Left: $3,348.22bn-2007
[url] http://www.financialnigeria.com /development /developmentreport_category_item_detail.as px?categoryid=5&item=174
[/url]
FOREIGN RESERVE
Inherited: $3.7 billion (1999)
Left: $45.0 billion (2007)
http://olusegunobasanjofoundation.org /?oof_staff=president-obasanjo
NB: As at 2003, Oil Price Per Barrel was $30 and it was at $90 when he left.

2. UMARU MUSA YAR ADUA (2007 - 2009)
EXTERNAL DEBT:
Inherited: $3,348.22 billion
Left: $3.94 billion Dollars
http://www.dmo.gov.ng/oci/News /docs/Fact%20on %20%20Nigeria%20External%20Debt%20Sto ck.pdf
EXTERNAL RESERVE
Inherited: $45.0 billion
GrewTo: $63 billion in September, 2008
http://www.nigerianmuse.com /20090102021223zg/nigeria-watch/nigeria- s-foreign-reserves-dip-to-52-7-billion/
Left: $47. 7 billion (As at Dec 31st 2009 when Jonathan took over as "Overseer" )
http://www.vanguardngr.com/2011/03 /state-of-nigerias-external-reserves- worrisome-cipm-president /#sthash.cXXdNcoU.dpuf
N/B:
The reserve grew when the price of Crude Oil was $147 per barrel
It Slided in Mid 2008 during the recession, when the crude price fell to $35 per barrel in 2009, till his death

3. PRESIDENT GOODLUCK JONATHAN:
EXTERNAL DEBT
Inherited: $3.94 billion Dollars
As At Now:$9.3 billion Dollars
http://www.dmo.gov.ng/oci/edebtstock /docs/External%20Debt%20Stock%20as%20a t%2030th%20June_%202014.pdf
FOREIGN RESERVE:
Inherited: $47. 7 billion (As At December 31st, 2009)
As At Now: $38.2BILLION http://www.cenbank.org/intops/Reserve.asp
N/B:
Of the $9.3 billion EXTERNAL DEBT,Federal Government’s owes $6.36b, while ALL 36 States plus FCT owes $3.0 billion
As at 2010, Oil Price was at $89 per barrel
As at 2011, It was $103 per barrel
As at Now it is $100 per barrel http://en.wikipedia.org /wiki/World_oil_market_chronology_from_20 03
Meaning, Jonathan have access to more more money than Yar Adua, but he depleted the Foreign Reserve and Still Purge Us into Further Debt With NOTHING to show
Source - http://www.lautechstudents.com/thread/555/External%20Reserve%20And%20Debt%20Under%20Obasanjo,Yaradua%20And%20Jonathan%20Administrations/

7 Likes

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by folks4luv(f): 11:24pm On Apr 15, 2016
seunmsg:


She said there was no political will to save under GEJ, so tell me, who holds the political will to save, governors or the president?

Under OBJ, who gave the needed political will to save when governors of that era also opposed saving vehemently?
u no d fault of Jonathan? respecting d rule of law, u know y OBJ could b threatened without being taken to court at d end of d day? cos he knows how to rough handle people, put people where they belong. compare d effectiveness of d judiciary under OBJ n GEJ n u will have an idea if wat I am saying. GEJ was taken to d supreme court...yet he never wanted to save?
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by ELff: 11:28pm On Apr 15, 2016
theshadyexpress:


pls can you provide us a link to butress the fact that governors under OBJ protested against such?

if u wanna argue be armed with facts or youll appear confused
You have sounded the most confused, with all the grammer written you are yet to proffer sound arguments to validate your stance.
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by folks4luv(f): 11:33pm On Apr 15, 2016
wirinet:


I am sorry to say but you guys talk like illiterates, NOI had the political will to save but could not put political structures in place to ensure savings are guaranteed. So you expect NOI to just inform the governors that she wants to save their part of the revenue and she can now start deducting any amount she likes from the federation accounts and she can can spend the money unilaterally and inform the governors later if the ask questions.

If you say Jonathan had the political will to save, did the government attempt to change the laws to ensure savings? Did Jonathan proposed a system of savings acceptable to all stakeholders of the federation accounts? Did Jonathan send an amendment to the constitution to enshrine savings. Did Jonathan lobby the governors, the national assembly and his party on the need to save?

read this from Soludo;


You see, madman iweala is just throwing excuses around for her incompetence.
if Soludo actually said that, then it is so sad that an intelligent man like him has turned to a political zombie. the governor of My state received like 50billion naira, wat was it used for? nothing tangible (most states were wallowing in deep depth even after sharing the money), except to win d election.
we know d game APC played. get the money n use it for d election. u want to talk about integrity? let all d governors that shared d money give an account of how d money they received was spent.
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by jojomario(m): 11:39pm On Apr 15, 2016
masterblogger:

Meaning? If you don't have anything to say please just go to bed.
#ihatenoise
it's not suppose to reach vexation level na.
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by sweetgala(m): 11:42pm On Apr 15, 2016
chukwudi44:


NOI and GEJ had the political will to save and actually communicated that to the governors who resisted and led by Amaechi and Fashola went to the supreme court to get an order compelling the FG to share the money.Anyone who still blames GEJ after these disclosures is demented.

What happened to the 51% left over after the governors had rightly collected their share as the constitution allows ?

Most important to note is that the reason the governors resisted the ECA during the GEJ era, not only did they not trust or like him , to find out GEJ and his cronies were freely dipping into the ECA, 20 Billion going amiss, a poorly managed NNPC and the corruption of the PDP leadership in spending public funds on private ventures

2 Likes

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by Chukzyfcb(m): 11:48pm On Apr 15, 2016
Like chaarles soludo said, even if the governors didn't want to save. We are forgetting that the majority of the governors under GEJ administration were under PDP. And the Head of state from PDP......so how come majority of Govenors from the same party as GEJ refuse to save No one is asking, why they would refuse to backup their "main-man" on such key policy?.....
Simply put, Lack of Leadership & Integrity is the answer!!!

3 Likes

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by Lionsclaw: 12:03am On Apr 16, 2016
AntiWailer:


Before wailers wail, She did not deny her statement that Jonathan did not Save she is only doing damage control.

The question is : How did Obasanjo save ?

I don't blame Jonathan he can use anything to negotiate
Here is how Obasanjo saved:
By using military style force to silent opposing voices. None of your past generals are democratic.

And then you will ask me why Gej didnt use same force to silence the opposing govs abi? The simple answer is what gets you angry when you see a soldier asking a civilian to do frog jump on the road in a democracy( you feel bad right?). So who do we blame. People like you who supported Amaechi and co. The president said save for rainy day and those govs said no and we did not stone them on the streets. So you expect a man who understand the meaning of democracy to jail or kill Amaechi abi?
Mind you up till today the new govt where Amaechi serves have not been able to show the world the monies stolen from the coffers of the excess crude account.
Prejudice is a blinder
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by adebayal(m): 12:06am On Apr 16, 2016
It baffles me when I see people come here to comment and apportion blames, u can blame gej for all u like but u must also ask yourself Nigeria has three tiers of govt. Have anyone ask how the state governors that took gej to court spent their share or the local govt..what we must know is that govt is felt at the local and state level even if gej save federal share will u like for the money to be given now to governors like aregbe Rocha's and co who can't pay salaries yet collected and share from the ECA...
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by omobaekiti: 12:19am On Apr 16, 2016
chukwudi44:


NOI and GEJ had the political will to save and actually communicated that to the governors who resisted and led by Amaechi and Fashola went to the supreme court to get an order compelling the FG to share the money.Anyone who still blames GEJ after these disclosures is demented.
The definition of that phrase "political will"as used by the minister is enough to place the blame on the table of Mr former President. You may want to ask why? and the why is He did not play his politics well,as you know politics is a game,a tricky one at that and remember the buck stops at his table.
Take a look at the president,his anointed candidate for senate president and speaker of the house lost because his game was not tight. So getting your politics right would make things easier,like I said yesterday on the other thread,to rule this country one must be head strong and have a thick skin else reverse would be the case as we saw in the administration of Dr GEJ.
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by AntiWailer: 12:32am On Apr 16, 2016
sweetgala:


Obasanjo left a brilliant reserve of over 20 billion while also re-negotiating our national debt, please take note this was at a period when oil sold for 40 DPB max and averaged at around 27 DPB.

During GEJ we had our most buoyant days in terms of oil prices and that is why many Nigerian business men and corporate suits feel the pinch now because over the past 5 years most Nigerians have been feeding off the FG largess, the government was sharing money freely, every ministry , every department and even the NASS was involved in the inflation of contracts, the allocation of duplicate contracts, contracts to purchase equipment purchased the previous year and fictitious contracts to supply a non existent product or service.

It is only rights that when these sources of funds exiting the national coffers are plugged the many beneficiaries would cry out. These include the corrupt civil servants, the NASS enablers

, political jobbers, secondary beneficiaries and banks.

God bless you
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by aloeman15(m): 12:59am On Apr 16, 2016
Isn't it time someone sued gej to court for not saving?
I need for dis pepper to rest, make all man face dis gbese wey dey we front!
Nigeria dey burn, una still dey hia dey do mouth action on top last year mata?!
Leave mata for matthias na.
I take God beg una o!
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by ogmaskman: 1:00am On Apr 16, 2016
theshadyexpress:


and its you that have failed to reason, the presidents political will is not enough cos he can do nothing without the 36 govs and 774lga chairs,the political will of the later two was what she was referring to cos they are also part of the last dispensation, if your ability to reason wide is limited pls dont blame enlightened minds for it cos right now your ignorance is one of the many things Nigeria does not need

Take it easy bro. Just 2 questions for you.
1. Did the supreme court tell the federal govt to allow the govs have their way? (2) if the state's refused to save their share of the loot (ECA) what stops the federal govt from saving it share.

1 Like

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by Esperooke(m): 2:33am On Apr 16, 2016
theshadyexpress:


and its you that have failed to reason, the presidents political will is not enough cos he can do nothing without the 36 govs and 774lga chairs,the political will of the later two was what she was referring to cos they are also part of the last dispensation, if your ability to reason wide is limited pls dont blame enlightened minds for it cos right now your ignorance is one of the many things Nigeria does not need
Have you asked yourself why Obasanjo and Yaradua were still able to save in spite of pressure to the contrary? The point is, GEJ lack the will. Period.
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by AreaFada2: 2:46am On Apr 16, 2016
Abbeyunique2:
We are missing something. we need to change this fundamental clause in our constitution "All money must be shared". the clause was the main reason why Amaechi led NGF won the suit against FG at the supreme court. our laws are obsolete.

We operate a " Nassonal Cake" system, you know. Kill & divide. That's all that unite this country.

Look from East to West to North. What do these people really have in common as a nation? Nada.

NGF wanted all the money shared under GEJ. No saving. Some of the loudest NGF voices then are in APC, even in Buhari's government.
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by Esperooke(m): 2:52am On Apr 16, 2016
Every Nigerian is quite aware of the profligacy of the GEJ government except the wailers who want us all to turn blind eyes and distort history.

1 Like

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by toysleek(f): 3:11am On Apr 16, 2016
Let me use this analogy.
Let's assume my husband and I both had savings of a total sum of #5million in a joint acct for rainy days, I decided to check one day and it was already depleted to #4.5million.When he couldn't tell me exactly wht he used the #500k for,i vehemently asked that he gave me my share of about #1.8million, which he did. Suddenly,all his allowances were stopped in his workplace and his net income was just too meagre to keep up with the affluent life we have been living. Thus, we became broke and he started blaming me that it was my fault we were broke. And I asked, where is your #2.7million share? Apparently, he had squandered it too. Truth is, if he had not meddled with the money at all, I wouldn't have had the audacity to ask for my share and he also would have stood his ground(AS THE HEAD OF THE HOUSE)if he had the integrity.

6 Likes

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by PassingShot(m): 3:49am On Apr 16, 2016
chukwudi44:


NOI and GEJ had the political will to save and actually communicated that to the governors who resisted and led by Amaechi and Fashola went to the supreme court to get an order compelling the FG to share the money.Anyone who still blames GEJ after these disclosures is demented.
Stop spewing the same overused defence.

Severally, you guys have been asked to tell us who prevented the FG of GEJ from saving its own 52% share of the ECA.

Now tell us or forever remain silent.

3 Likes

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by PassingShot(m): 3:51am On Apr 16, 2016
toysleek:
Let me use this analogy.
Let's assume my husband and I both had savings of a total sum of #5million in a joint acct for rainy days, I decided to check one day and it was already depleted to #4.5million.When he couldn't tell me exactly wht he used the #500k for,i vehemently asked that he gave me my share of about #1.8million, which he did. Suddenly,all his allowances were stopped in his workplace and his net income was just too meagre to keep up with the affluent life we have been living. Thus, we became broke and he started blaming me that it was my fault we were broke. And I asked, where is your #2.7million share? Apparently, he had squandered it too. Truth is, if he had not meddled with the money at all, I wouldn't have had the audacity to ask for my share and he also would have stood his ground(AS THE HEAD OF THE HOUSE)if he had the integrity.
Don't mind the Jonathanians. Simple logic they refused to understand.

1 Like

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by a4jasper(m): 4:37am On Apr 16, 2016
PassingShot:

Don't mind the Jonathanians. Simple logic they refused to understand.
Post Election Loss Trauma(PELT) & constant Teary eyes(wailing Zombies) begats poor comprehension & blurred vision....u can't really blame dem u knw?
They keep blaming amaechi, fashola & APC when indeed majority of d govs who where PDP govs didn't even support der own(Gej).

3 Likes 1 Share

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by Kingspin(m): 4:49am On Apr 16, 2016
Dont mind them, they want to support you only if you support Buhari. Stuipid pimples.
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by Ahmeduana(m): 4:53am On Apr 16, 2016
seunmsg:


She said there was no political will to save under GEJ, so tell me, who holds the political will to save, governors or the president?

Under OBJ, who gave the needed political will to save when governors of that era also opposed saving vehemently?

Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by dadexcel: 5:01am On Apr 16, 2016
seunmsg:
Madam Ngozi, stop this double speak for once and stand by the truth. You can't say something yesterday and start denying today. Puts lots of dent on your character and credibility.

Political correctness is one of the reasons why you failed as finance minister, you should not continue in that line now that you are out of office. Speak the truth and stand by it.
........ No, there's no double speak... Rather she has said an obvious truth which we all know except if you don't live in Nigeria.... It was the intense opposition mounted by the former got amaech
I led Nigeria governors forum (which was almost becoming a political movement,) that distracted the last administration effort. If you were around then, you will also know that it was due to their negative politics that led the GEJ administration to break the then NGF into two camps so as to water down their powers..... Truth be told
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by dadexcel: 5:09am On Apr 16, 2016
AntiWailer:


Before wailers wail, She did not deny her statement that Jonathan did not Save she is only doing damage control.

The question is : How did Obasanjo save ?

I don't blame Jonathan he can use anything to negotiate
....... .. Because obasanjo never faced the level of opposition the amaechi led governors forum meted on GEJ.....amichi was an opposition NGF chairman hence the effort at mobilizing governors against the plan of the government.......... The truth is there for every sincere Nigerian to see...... That also led to the dismemberment of the last NGF, the federal government wanted to Waterdown their influence.... Obi did not face that sort of opposition
Re: Low Savings: Okonjo-iweala Did Not Indict The Jonathan Administration by ashjay001(m): 5:12am On Apr 16, 2016
theshadyexpress:


let me lecture you on how government works just incase youre ignorant

The FG's share of federal revenue has been provided for in the Appropriation act as a source of finance for the budget, the executive dare not use a dime of that money for another purpose other than what is stated in the appropriation act cos that in itself is an impeachable offence, the best bet was to source for savings from the ECA as it is monies yet to be shared and so hasn't made its way into the FG purse. does this mean the money will be spent by the FG without the consent of states by the fg? definitely no, what it means is that all excess monies will be saved in trust for all tiers of govt until such a time when there is a cash crunch and the monies will be shared with amongst all tiers with the already existing sharing formula

and if i may ask why didnt APC states also save their share too or were they not in govt during those times too?
stop been ignorant it wont make you appear wise

Will u pls, shut ur ignorant self up, instead of displaying it to d entire world?!

What do u av to say to NOI saying she withdrew $2b from ECA with approval strictly from GEJ? Don't ask me for source, just google it, if u're that ignorant!

If the guvs didn't allow savings from d ECA, how come d SWF also remained empty?

I hope u remember, 23 states were owing salaries before the buffoon left, or power becoming scarce or the cabals holding us in d grip of fuel scarcity? Do u really av such short term memory or u're playing dead brain?

Just rest ur case and actually wait for Baba Go-slow to collapse b4 coming out of d woodwork to sprout ........!

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