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Nairaland Forum / Nairaland / General / Politics / How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today (39569 Views)
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Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by LaExpert: 2:03pm On May 25, 2016 |
superstar1: You cannot answer simply. Hypocrisy on your own part. I challenge you to present evidence for Jonathan's loot as you alleged in the bold. Remember it is credited to Buhari to have said that 'Abacha never looted.' allafrica.com/stories/200806090008.html |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by kaboninc(m): 2:04pm On May 25, 2016 |
nenergy: dont goandread! Stay dere be shouting links! |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by Alwaystruth: 2:04pm On May 25, 2016 |
By Emeka Anaeto, Economy Editor & Peter Egwuatu LAGOS — Nigeria’s external debt stock as at second quarter 2015 stood at about USD10.3 billion, over 10 per cent increase, against USD9.5bn recorded in the first quarter of the year, just as the Federal Government revenue rose to N485.95 billion, up from May figure of N324.7 billion. A release, yesterday, by the Debt Management Office (DMO) of the Federal Government, however, shows an unchanged position in the domestic debt stock at N8.39 trillion against N8.31 trillion in the first quarter. The breakdown of the external debt stock shows a significant rise in the indebtedness to multilateral institutions (World Bank and African Development Bank Groups) which stood at USD7.23 billion from USD6.54 billion in the first quarter while Bilateral debt stock (owed to countries and or their financial institutions) stood at USD1.58 billion, up from USD1.42 billion. At USD6.19 billion, the indebtedness to the World Bank Group accounts for the bulk of the debt owed multilateral institutions, increasing from USD5.73 billion, while the African Development Bank Group was owed USD1.04 billion, up from USD810 million. Further breakdown of the external debt shows that the bulk of Bilateral debt stock was owed to Exim Bank of China amounting to N1.39 billion while the balance of USD194 million Bilateral debt was owed to France, Japan and Germany in aggregate. The breakdown of the domestic debt stock shows that the bulk is in Federal Government Bond amounting to N5.3 trillion, accounting 63.1 per cent while Nigerian Treasury Bill (NTB) was N2.8 trillion or 33.6 per cent and the balance of N271 billion was in Treasury Bond. Meanwhile the Federal Ministry of Finance said yesterday that gross government revenues rose for the second consecutive month in June to 485.95 billion Naira, up 33 percent against May figures. International oil prices rose at the end of April and benchmark Brent futures were sustained at above US$60 a barrel before falling again below that mark a barrel in July. Nigeria depends on oil sales for about 70 percent of its government revenues. Read more at: http://www.vanguardngr.com/2015/07/nigerias-foreign-debt-rises-to-10-3bn/ If I say the OP is a Zombie, that would be a serious insult to zombies ,so is better say the OP is nonredeemable and pathological liar and Apcshit chief lying liar and worst than chief Liar himself Lai Mohammed. The truth is that the dullard is a stubborn illiterate and not too hot economically according to Obasanjo. He would have been better a retired old soldier than a president .Truly in sane clime Dullardino has no business being in Aso rock. |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by kaboninc(m): 2:04pm On May 25, 2016 |
Cvesta: Hmmmm |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by adeoluolagbegi(m): 2:06pm On May 25, 2016 |
let just forget dis stupid liar u can come here to foul everybody in dis modern age when we hav all this figure evrywhr.APC ...........LIAR |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by Nobody: 2:14pm On May 25, 2016 |
Demdem:I believe you are now living the life? |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by Alwaystruth: 2:20pm On May 25, 2016 |
By Emeka Anaeto, Economy Editor & Peter Egwuatu LAGOS — Nigeria’s external debt stock as at second quarter 2015 stood at about USD10.3 billion, over 10 per cent increase, against USD9.5bn recorded in the first quarter of the year, just as the Federal Government revenue rose to N485.95 billion, up from May figure of N324.7 billion. A release, yesterday, by the Debt Management Office (DMO) of the Federal Government, however, shows an unchanged position in the domestic debt stock at N8.39 trillion against N8.31 trillion in the first quarter. The breakdown of the external debt stock shows a significant rise in the indebtedness to multilateral institutions (World Bank and African Development Bank Groups) which stood at USD7.23 billion from USD6.54 billion in the first quarter while Bilateral debt stock (owed to countries and or their financial institutions) stood at USD1.58 billion, up from USD1.42 billion. At USD6.19 billion, the indebtedness to the World Bank Group accounts for the bulk of the debt owed multilateral institutions, increasing from USD5.73 billion, while the African Development Bank Group was owed USD1.04 billion, up from USD810 million. Further breakdown of the external debt shows that the bulk of Bilateral debt stock was owed to Exim Bank of China amounting to N1.39 billion while the balance of USD194 million Bilateral debt was owed to France, Japan and Germany in aggregate. The breakdown of the domestic debt stock shows that the bulk is in Federal Government Bond amounting to N5.3 trillion, accounting 63.1 per cent while Nigerian Treasury Bill (NTB) was N2.8 trillion or 33.6 per cent and the balance of N271 billion was in Treasury Bond. Meanwhile the Federal Ministry of Finance said yesterday that gross government revenues rose for the second consecutive month in June to 485.95 billion Naira, up 33 percent against May figures. International oil prices rose at the end of April and benchmark Brent futures were sustained at above US$60 a barrel before falling again below that mark a barrel in July. Nigeria depends on oil sales for about 70 percent of its government revenues. Read more at: http://www.vanguardngr.com/2015/07/nigerias-foreign-debt-rises-to-10-3bn/ If I say the OP is a Zombie, that would be a serious insult to zombies ,so is better say the OP is nonredeemable and pathological liar and Apcshit chief lying liar and worst than chief Liar himself Lai Mohammed. The truth is that the dullard is a stubborn illiterate and not too hot economically according to Obasanjo. He would have been better a retired old soldier than a president .Truly in sane clime Dullardino has no business being in Aso rock. Bubu is a millennial and kiloyears mistake and will take Nigerians another millennium to correct this Colossal and emotional mistake. 1 Like |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by LaExpert: 2:36pm On May 25, 2016 |
adeniyibolanle: GEJ administration wasn't prefect neither is Buhari's administration...but That is not the problem, the issue here is the stinking hypocrisy of the APC and its supporters. They ascribe even their own faults to Jonathan and never give credits to him for the sound economic policies and all the positives of his administration. The only thing they see is the negatives. Yes, during the elections, both the APC and the PDP shared various items to gain votes which included money. Why then is the APC blaming the PDP for exactly the same things they're guilty of? Isn't that gross hypocrisy? 1 Like |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by LaExpert: 2:44pm On May 25, 2016 |
koboko69: First, admit that you're distorting facts by claiming the external debt was over $60bn...after that, go back to the original post, modify and apologize for mis-informing people. You shouldn't shy away from that if you're honest. Second, what is the issue if not that distortion of facts? |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by olakan22: 2:51pm On May 25, 2016 |
You didn't finish reading the article sef. I don't blame u sha. The remainder of the Ngozi's quotation is this o----In defence of Mr. Jonathan, Ms. Okonjo-Iweala had stated that it was wrong to blame Mr. Jonathan’s administration for the huge debt stock which she said was accumulated over a long period of time by successive administrations. She said the debts incurred under the Jonathan government were made up of $18 billion domestic component and $3.7 billion external component. She added that between 2007 and 2011, a debt of $17.3 billion was recorded while between 2012 and 2015, the debt incurred stood at $18.1 billion. She had further explained that the leap in the debt profile between 2012 and 2015 was triggered by the 53 per cent wage increase implemented by the late Umaru Yar’Adua administration. koboko69:bros I just read that article, the real joke is on you why? Because you believed the words of a party faithful acting a well rehearsed script of deceit. Also, ur analysis is nt on point why? Because you're comparing eight years OBJ, 4 years GEJ and 1 year PMB. Why don't u luk at GEJ's first year in office. Wait o, don't tell me dat u didn't knw that GEJ finished Yaradua's tenure. The success recorded in the final yr of Yaradua's admin are GEJ's handiwork. Finally, let Lai do his work. Helping him won't get u free fuel and nice tomatos na. Oya quote me and say rubbish. NEXT! 1 Like |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by adconline(m): 2:55pm On May 25, 2016 |
seunmsg:You got it all wrong. Crude oil price during OBJ was less $ 20. He doubled minimum wage, Paid our debt to over $30bn, saved in external reserves and ECA... Times were rougher during OBJ time. He also pegged capital budget at 40something percent |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by koboko69: 2:56pm On May 25, 2016 |
LaExpert: I am sure u saw the Okonjo Iweala part also on the original article. There is nothing to edit, i can't even touch it once its on FP. Asides the controversial debt, what else are not facts there? The point is while others had enough forex in the reserves, with an higher oil price, Buhari inherited a depleted reserves of about $30bn, subsidy debts of about N600bn, oil price lower than 40usd. How exactly is the economy to look like with the facts? Even Okonjo blamed the econmy today on Jonathan's lack of political will to save, and was already sounding alarm about a very tough economy when dollar was even still as high as 75 usd. Are these lies? |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by koboko69: 2:58pm On May 25, 2016 |
olakan22: Look at this clown. Where was OBJ mentioned in the whole article asides the fact that he handed over a robust reserve to Yaradua. The focus of the article is more on Yaradua and Jonathan. Is it that you have comprehension problem or you just choose to interpret what u read to the way it suits your wailing needs? |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by gcof(m): 3:03pm On May 25, 2016 |
I weep whenever I hear the present government blame oil price for Nigeria's present economic situation. by now I expected the government to have put in place policies for diversion of our economy. the past administrations mismanaged our money but are we going to dwell on that till eternity? like I always say, one year may not be enough to reach my destination but its enough to where am going to. |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by modath(f): 3:04pm On May 25, 2016 |
agabaI23: Agabs, there was no APC in 2010, even 2011 CPC & ACN presented different candidates so how did they get together to militate against your hero? You need to do small research, madam gele may not be a thief but she watched and supervised major looting.... I posted some links on Pg 1. 2 Likes |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by Nobody: 3:05pm On May 25, 2016 |
plaetton:where is you reference |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by folks4luv(f): 3:08pm On May 25, 2016 |
MetaHuman:I don't really reply zombies, but gonna dignify u with a response, but then, I can't present facts to u cos u are too blinded by sentimentalism to see them... was d economy in good shape when ur lord took over? nope, I don't envy him, but was d situation salvageable? yes, even from d op analysis, it is evident we ve been through worst situations but things have never been this bad. don't worry, I no u can't see it, n u won't admit things are so bad cos ur master is incompetent, acute zombeism is a serious disorder, it makes ur mind shallow and weaken d capacity of ur brain. |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by LaExpert: 3:12pm On May 25, 2016 |
koboko69: Okonjo was talking about the Total debt stock. You portrayed the same figure as the You have clearly distorted facts...probably with the intention to deceive...or maybe out of ignorance. To show you're honest, simply set the records straight and possibly, apologise. If you can't edit the post, edit one of your comments on the frontpage and acknowledge the distortion...and tender an apology for the distortion. koboko69: 1. Buhari did not inherit a 'depleted' foreign reserve, in comparism with when PDP came on board. Obasanjo had it far worse. 2. If in that case, that's why we voted the present government into power...to do what Jonathan could not do. What has the present administration done other than to 'hypocritically' blame the past administration? Let them get to work, we'll support them. |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by manny4life(m): 3:13pm On May 25, 2016 |
According to the World Bank Report, Nigeria's external debt was under $10 billion as of 2015. |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by olakan22: 3:19pm On May 25, 2016 |
koboko69:okay sir. I don't have comprehension problem. It seems like you are the confused lad. Why did you mention OBJ and PMB if u were not 'analysing' them too? It's simple, the zombiac spirit that is in u only get excited when it posts 'articles' like this |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by koboko69: 3:20pm On May 25, 2016 |
LaExpert: There is nothing to edit. Stop being childish and forget about the typo in external, cos if u are not blind, u can see it correctly spelt in other places. Obj rose on an oil cruise with a minimum wage of 4k, and a first budget of just 800bn. Oil rose steadily all through Obj' s tenure. U say 30bn is not depleted, when a previous government had to use almost $20bn to defend the Naira and support the economy when oil didn't even get as low as 28usd per barrel. Why are u not being truthful with yourself. The polices you can achieve successfully with a robust reserve is not the same as the one u can achieve with a smaller reserve, except u want Nigeria bankrupt. |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by koboko69: 3:23pm On May 25, 2016 |
olakan22: Mtcheeew..abeg shift. What is this one even talking about. Where was any comparison with Obj in my orginal post. Your wailing friends brought Obj up, and i whipped their arse for making such silly submissions |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by Emmyvans: 3:24pm On May 25, 2016 |
Well... See below details from the debt management office... This should clear up some matters.
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Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by olakan22: 3:24pm On May 25, 2016 |
I think OP is confused... Dazzol |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by olakan22: 3:27pm On May 25, 2016 |
Everyone relaw....I think OP is confused... Dazzol |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by koboko69: 3:30pm On May 25, 2016 |
gcof: Diversification is expected to work like magic. In fact Buhari amerlin should just shout, let their be diversification in Nigeria. And it will just happen. Previous govts had issue with oil price, they used the reserves to defend, non diversified. But you guys want Buhari the wizzard to make everything right in one year. 16years wreck is what u want to build back in one year. And u are a liar if u say their are no policies in place for diversification. |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by happney65: 3:41pm On May 25, 2016 |
plaetton: omolola15 come and see this,I guess if it was the APC that took over power in 1999,they would simply have sold off Nigeria to China..Which worse govt can anybody ever take over from in 1999?Nigeria was at its peak..Poverty was rife,Nigerian Civil Servants where among the least paid in Africa..The Military literaly destroyed Nigeria,but OBJ Came in and did wonders..That is why i will never in my life support buhari..He was once President,we asked what he's Economic Achievements where when he was president,none of you could answer us..The Same thing that happened then is happening now,so why will i support a man who destroyed the economy under the Military before IBB sent him out,shey na under Democracy with checks and balances he wld succeed..Eyin weere gbogbo,always blaming the next person for their woes.. 1 Like |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by saintmark88(m): 4:00pm On May 25, 2016 |
plaetton: Shame on you, you think u can just come here and say rubbish out of sentiments, we're r ur proofs to show what you are saying is true, pple like you who do not want this country to get better, all ur wicked plans for Nigerian would boomerang on u |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by anigold(m): 4:06pm On May 25, 2016 |
koboko69:after all these jargons you ended up saying nothing... So you are really trying to say that Buhari have done alots by putting poor Nigerians in worse economic situations... |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by Malawian(m): 4:08pm On May 25, 2016 |
koboko69:i was taking you serious until this post. from here i can honestly say that u are very stupid. datsall. |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by saintmark88(m): 4:29pm On May 25, 2016 |
koboko69: Leave the dullard, he is as dull as his god, Gej..... Truth is no matter how intelligent a person, he can't defend a stupid idea n still appear intelligent...... 1 Like |
Re: How The Economy fared Under Yaradua With Oil @ $40/barrel And The Reality Today by saintmark88(m): 4:31pm On May 25, 2016 |
1NigeriaOnlyIf: You pple r here talking rubbish bout policy direction n economic policies of this govt, Pls what was d policy direction of the last govt?? |
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