plaetton:


Buhari himself has already categorized himself as being unfortunate to have come to power during a period of low oil prices.
He made that statement while away in London some months back.

Saying that Jonathan ran the economy aground is a lie, a baseless innuendo, repeated so many times that people like you think it has become truth.

Nigerian economy was growing up to the time that GEJ left it.
GEJ initiated and left very sound economic policies.

GEJ did not engineer the sudden fall in oil prices that devasted resource dependent economies for much of 2015.

Did Buhari expect GEJ to have given him Guarantees that all would be rosy for next 4 years ?

From your response, it seems that most of you still do not understand what leadership entails.

It's obvious that Buhari and his party just wanted power and opportunity. They forgot that it came with great challenges and responsibilities.

I have nothing but scorn for the Cry Babies in power right now.

FOLYKAZE:
I have argued on many occasions with my boss who is a fanatical PDP fan and Hausa hating tribal bigot that situation at the moment is not Buhari's fault but stem from absolute mismanagement and massive looting from past government which causing massive hit on our economic system. The wastage and spending spree by GEJ and his croonies make things worse. He is a visionless, clueless and hardened crook. He cared not about saving during the raining days. A small ant is wiser than he is.

But, do I need to continue arguing with a blind person? Make them con sack me wey another oppourtunity no dey?

I often put Government economics with that of private individual on parallel lines. A man who earned 147,000 as a monthly salary will have to take harsh decision when his salary falls to 27,000. Therefore, in order to save face and escape the hard condition, he has to save for the doom days. The standard of living when earning is 147k will be incomparable when earning falls to 27k. So one needs to preprae by saving for the doomdays.

Now on the Government part, Yaradua saved us from experiencing harsh condition in 2008-2009 by saving whooping 67b dollars. He took advantage of the oil boom and saved for the oil fall. His efforts sustained the nation for months running to a year period. This is a man with vision.

Jonathan came in with his voodoo economic team lead by World Bank puppet NOI. They had chances of saving when price of fuel rises to it peak but wasted their oppoutunity. They stole, wasted and shared among themselves our resources and reserve. When oil was selling below $60/barrel, Nigeria was borrowing to pay salaries. This is to show the damages caused on our reserve. We are exposed to harsh hit.

Buhari is a good manager. Even when Oil fell below $30/barrel, he didnt borrow to pay salaries like the fedora hatman did. The damages done to the economy is beyond imagination but he is doing more than enough taking his time and energy to keep us in balance. Nigeria would have been swept away if GEJ had won. I believe in Buhari with time will put Nigeria back on tracks

pipeewa:

Nigeria is supposed to be in the league of developed nations by now if our leaders have taken necessary steps all the way. But this is where we have found ourselves. It is not too late to start again no matter how far we have gone in the right direction as soon as we turn to the right direction things get better. Many things are wrong in Nigeria from structures to system of government to institutions and the people. poor foundations upon which we build nothing. no frame work, no policies bad decisions everyday. No continuity political instability. so many bad eggs thinking 8years will be good enough to enrich thier bank account and their goons. yet we still have those who praise yhem to high heavens. We know our problems. I suggest we youth should just start a revolution to turn things around. we are too blessed to be suffering. from agriculture to mining to oil to human resources we are just to blessed. canada is not as blessed as we are. they live on imports too. and oil. snow wount allow them farm. yet we run there. Arise o young nigerians and lets look forward and not backward to what we can not change.

@plaetton you seem to be the only one against this line of thought. kindly reserve your energy nad technical know-how on how to move nigeria forward where we are now. Kindly stop abusing those that share different opinion from you. It doesnt dipict you as a good leader and we need good leaders to steer Nigeria out of the mud. Kudos to guys that see the truth but what can we do? lets talk objectively

poiZon:



will also comment on ur salary analysis. someone who earned 147k with children n suddenly his wage dropped to 27k wont go abt clubbing, keeping multiple chicks, eating at kfc or going to shoprite to buy kpomo.
what am I saying does buhari' budget of change truly reflecting on the true position we find ourselves?
what does he neèd 3.9billion for? is aso rock falling or the paints r peeling off that requires urgent fix?

gej was bad but buhari is worse.

plaetton:


This is kind of funny.

I actually support everything you wrote up there.

I just don't see how you reckon that I do not support your line of thought.
I have a very short fuse for deliberate lies.

I can excuse simple ignorance, but lies, No.

I prefer the OP and his type argue with real FACTS, not innuendos and twisted facts.

Now, part of moving forward is to criticize, even harshly, silly, lopsided and contradictory policies when we see them.

I find it funny that you think the way forward is to sit idly like sheep as one group of slowpoke after another Dilly dallys with our Commonwealth.

Part of moving forward is maintaining vigilance, even just on Nairaland.

TheGoodJoe:
“So we were not able to save when we should have. That is why you find that Nigeria is now in the situation it is in. .. Ngozi Okonjo-Iweala.

People still blame President Buhari.

plaetton:


Unbelievable.
Your poor comprehension skills and intellectual paucity is a source of embarrassment to me right now.

And this is someone who opens a thread for 1.6 million Nairalanders to read.

But, on the other hand, Coming here to spank arrogant kids like you makes my Nairaland hobby worthwhile.

Firstly, read this.
http://www.tradingeconomics.com/nigeria/external-debt

Being challenged in comprehension skills, let me help you by highlighting the important points.

" Since 2008, Nigeria's external debt has Averaged about $6.3b, peaking at $10b in the fourth quarter of 2015 and a RECORD low of about $3.6b in the first quarter of 2009. "


As per your reference to SUBSIDY payments ballooning to N2 trillion , well, do the math.
Use your brain for once.

SUBSIDY payments ballooned for 2 main reasons.

1. Yes, the number of cars on Nigerian roads has been steadily increasing over the past 16 years along with the biggest expansion of the Nigerian middle class in well over 3 decades,..a middle class expansion Shepherded by the PDP led government.
Those are FACTS, stubborn facts.

2. Simple arithmetic, dummy.
The higher the price of crude, the wider gap in international prices and Nigerias government regulated pump price.
Therefore, I hope you're following, the government pays more and more in SUBSIDY for ever litre of fuel consumed in Nigeria.

And yes, as with everything distinctively Nigerian, there was fraud in the fuel SUBSIDY system.

Does that answer your questions ?

Igbiboi:



You're a m.oron. The question should be: is anyone expecting Buhari to pay down de debts immediately. Are these 'debts' not amortized over a period of time? Why're the sai baba chanters so empty? Why're you guys always feeling insecure? To be honest, if you continue like this Buhari will record de worst govt in history of humankind, even Zimbabwe will be a haven compared to what will happen in Nigeria.

Gosh! Buhari should just go to work, a man never complains of any situation he finds himself. Obasanjo met a broken system, he never complained like de dullard, he instead tried his much and dashed out, also year-Adua, and GEJ met a broken system and each tried his best. One year after inauguration Buhari is yet to make any progress except to keep pointing accusing finger. Shame on you!

favourboy1:
am back on nl

FOLYKAZE:


In this same budget where recurrent expenditure is not more than 40% is what you call spending spree? GEJ spent more than 60% budget of looting on recurrent expenditure.

Change Budget target Capital investment which is enough to set a pace for structural development which in turn will bring chances for diversification.

Less is coming from Oil which is our primary source of living. Diversification is the game and Buhari's budget heads toward that direction unlike in the past when IB lavish his riches.

Now into my simple analogy, the man whose salar drops rather than going on spending spree is creating a smal avenue where he can start new business (capital project), he is looking away from his 147k and sourcing funds from untapped resources (Agriculture and Natural mining). These are for the betterment of his family.

GEJ was a bad manager and the worst at that. When he was earning large, he didnt sensed that what goes up must surely comes down. He added nothing but further lavished everything in our reserve. Trillions were looted under his watch. If he is a father, he should be cursed by his son.

TheGoodJoe:
Thanks for the update. That was a long one.

poiZon:



do u know why there is benchmark of oil price in every budget?
go back check the benchmark of oil price in gej budgets of the 4yrs he reigned n also compare to the benchmark states adopted for their budgets too.
I wont spend time educating u on the effects of benchmark.


trillions too will be looted under the illiterates watch, just keep listening n be prepared cos soonest u will start hearing news.

plaetton:


Op.

You are a big liar.

As of October 2015, Nigeria's external debt stood at around $10b.
In FACT, $8b to $10 had been the average since 2008, long before Jonathan became president.

Therefore, Jonathan did not increase Nigeria's external debt by any significant amount.

It is on record that the current minister of finance is using Nigeria's very low DEBT to GDP ratio as a justification for seeking more external loans this year.

In your lopsided analysis, selective amnesia didn't allow you mention that OBJ inherited a Nigeria that had completely collapsed economically and politically.

He inherited a mere $3b in reserves and $38b in debt and oil price in the teens.
How did he and NOI do the magic?

Buhari inherited $30b reserves, $10b external debt and he is sulking and whining like a spoilt brat.

Be man enough to call incompetence and failure what it is: INCOMPETENCE and FAILURE.

All of you should go and hide in shame.

poiZon:



do u know why there is benchmark of oil price in every budget?
go back check the benchmark of oil price in gej budgets of the 4yrs he reigned n also compare to the benchmark states adopted for their budgets too.
I wont spend time educating u on the effects of benchmark.

poiZon:

trillions too will be looted under the illiterates watch, just keep listening n be prepared cos soonest u will start hearing news.

irumanle:
Show us your facts like the op did

FOLYKAZE:


You should rather educate yourself maybe you will make some sense.

With the benchmark bullsshiiit, GEJ sold Oil at excess price. What did he do with the Excess fund?

When Oil was selling below 70 dollars, GEJ borrowed money to pay Salary.

Buhari paid whooping N658 billion as a bail out fund for states and have never borrowed from outside to pay salary even when oil was selling @ below 30 dollars.




You think everyone is clueless like the fedora hatman who under his watch trillions was unaccounted for, misappropriated, mismanaged and delibrately stolen?

One do not need a Soothsayer to tell you GEJ is clueless. We know how he watched billion flies when he was acting president. People did not trust him which was the reason subsidy removal was fight down in 2012. We know how he supported and embraced corruption with his body language and words. Can that be said of PMB? Nope.

PMB blocked loopholes immediately he came into office. Now we know stealing is corrpution. Corruption is not tolerated and note, you will be disappointed.

Igbiboi:




You're a genius. Forget the sai baba chanters, de good thing is that while one can fake all the documents and statistics in the world there is no defence to an empty stomach. I know many people who chanted change who're now even praying for the same GEJ dey despised so much to come back.

Babacele:
the temporary empty stomach was caused by una pilfering and no sane Nigerian would go 'jewish' blaming this Moses from freeing us from una slavery.......something greater than food is in our bellies; it is called dignity. we shall defend it ,fight for it and protect it. Didn't we , empty bellies, removed the belleful thieves in 2015? Sai Buhari!

plaetton:


Innuendos innuendos innuendos.

And all this just the defend and justify the Impending blow up of the Nigerian economy by these bungling clowns?

Let me ask you my friend.
Who is has been in charge of the Nigerian economy for 1 year now? Jonathan or Buhari?

Which slowpoke removed N3trillion from an already shaky economy, and then still celebrates it as an achievement? Jonathan or Buhari?

Who is promoting the CORRUPTION of our system by subverting the Sacred precincts of the RULE OF LAW? Jonathan or Buhari ?

Who has been the belligerent buffoon who thinks sentiment is what is needed to determine the exchange rate of the Naira ? Jonathan or Buhari?

Who is the change Messiah , who , while crying that Nigeria is broke, astronomically increases the trappings of his own office and the cost of governance ? Jonathan or Buhari?

Who is the economic illiterate that insists on borrowing N3 trillion to fund a budget that is paddled to the tune of N500b to N1 trillion? Jonathan or Buhari ?

Who is the economic voodoo man that wants to use N500b of borrowed money to dash out to 1m supposedly poor Nigerians? Jonathan or Buhari?

What will happen to the other tens of millions of poor Nigerians ?

We know that low oil prices precipitated economic challenges for a lot of Nations. But the clearly comedic and tragic bunglings of this administration is too damn scary.

Babacele:
When we collect all our money wey una steal n which is affecting d economy, we go jail una to keep u thieving lots away from civilization , while Nigerians enjoy their recovered loots from shameless saboteurs.

plaetton:


Op.

You are a big liar.

As of October 2015, Nigeria's external debt stood at around $10b.
In FACT, $8b to $10 had been the average since 2008, long before Jonathan became president.

Therefore, Jonathan did not increase Nigeria's external debt by any significant amount.

It is on record that the current minister of finance is using Nigeria's very low DEBT to GDP ratio as a justification for seeking more external loans this year.

In your lopsided analysis, selective amnesia didn't allow you mention that OBJ inherited a Nigeria that had completely collapsed economically and politically.

He inherited a mere $3b in reserves and $38b in debt and oil price in the teens.
How did he and NOI do the magic?

Buhari inherited $30b reserves, $10b external debt and he is sulking and whining like a spoilt brat.

Be man enough to call incompetence and failure what it is: INCOMPETENCE and FAILURE.

All of you should go and hide in shame.

koboko69:


The joke is on you. You guys only see what you want to see.

You cleary see this

"Ngozi Okonjo-Iweala, promptly rose to the defence of Mr. Jonathan’s administration, saying of the $63 billion debt, the administration only incurred $21.8 billion."

See link;

http://www.premiumtimesng.com/news/headlines/185471-jonathan-left-n7trillion-deficit-for-nigeria-buharis-transition-committee-chairman-joda.html

As for OBJ, he received the bulk of Abacha's loot. And it took a whooping 8 year to leave 47bn in the reserves. Also note that oil prices soared high, hence your logic is null and void.

Get your facts right.

wordychap:

You need to get your facts right

http://www.premiumtimesng.com/features-and-interviews/187797-fact-check-claim-that-jonathan-left-n7-trillion-deficit-does-not-add-up.html

OlujobaSamuel:

noi was never part of obj first term, and she used 3yrs plus days during obj 2nd tenure. so tell us the magic she did