obailala:
Like I said earlier, your setimental attachment to GEJ will not let you discern even the best explanations with the clearest facts and figures.

I would leave you with just this simple chart below comparing crude prices vs Nigeria's growth rate. If you cannot still see the downward acceleration in line with the oil prices, if you can't still see how this downward plunge started during GEJ's time but only crossed below the zero mark after handover, then I doubt any other indices I present will make any sense to you. Good luck in your convictions, GEJ was a saint who made Nigeria Dubai but Buhari came in and reversed it all in one year.
www.nairaland.com/attachments/4178677_gdpvscrudeprice2_jpegc5856f214a58ffdca179aefcd84d6ffd

In response to your charts, the problem is that you have skillfully refused to accept the fact that the present government clearly told Nigerians that the then administration were doing a bad job running the country and given the chance they were going to fix it all. If the present government had come up with a robust economic policies we wouldnt have been in such a dire need (I am sure you remember how much oil was through out Obj tenure even at that we recorded progress)

Having said the above for simplicity my positions are simple: as at today the present administration is no where near fixing the economy as promised. That if not for "trial and error" even with the fall in oil price the situation wont have been this bad.

NB: I never said GEJ was a saint but then I am not the guy that stand bye and watch a dog being giving a bad just to hang it.

woodcook:


In response to your charts, the problem is that you have skillfully refused to accept the fact that the present government clearly told Nigerians that the then administration were doing a bad job running the country and given the chance they were going to fix it all. If the present government had come up with a robust economic policies we wouldnt have been in such a dire need (I am sure you remember how much oil was through out Obj tenure even at that we recorded progress)

Haven said the above for simplicity my positions are simple: as at today the present administration is no where near the fixing the economy as promised. That if not for "trial and error" even with the fall in oil price the situation wont have been this bad.

NB: I never said GEJ was a saint but then I am not the guy that stand bye and watch a dog being giving a bad just to hang it.

You haven't been reading all I've been writing have you?... If you have, then you definitely would have realised that I have not exonerated the present admin; I simply just pointed out that the last admin also has a good share of the blame for the current recession contrary to your continuous exoneration and glorification of the last guys.

obailala:
You haven't been reading all I've been writing have you?... If you have, then you definitely would have realised that I have not exonerated the present admin; I simply just pointed out that the last admin also has a good share of the blame for the current recession contrary to your continuous exoneration and glorification of the last guys.

You should go back and read your first post and tell if that sounded like what you just wrote. Remember you saying "...who laid the foundation of our present predicament" that does not sound like one holding both the past and present administration accountable.

Not until we started calling you out, did you start shifting your stance towards but not strongly acknowledging the huge impact of the present administration in the present economic woes bedevilling our country

jlinkd78:
It is very painful how most readers have become so bigoted and intransigent in mindset that it now affects their comprehension quotient. In all d contributors above, no one has succinctly understood that d above very excellent write up was trying to point out d very obvious 'DOUBLE STANDARD' in the dispensation of justice by the current govt depending on who is involved. The writer has been able to give an intelligent analysis with facts to show that Buhari is for only a select few. Its gradually beginning to be d order of d day that what it takes d canonization of sinners into sainthood is to dump PDP and join d ruling APC. The cases of double standard as articulated by Reno is glaring, clear and unambiguous. Truth is Buhari is d architect of his own loss of goodwill.

I disagree. Buhari is not only for a select few. He is for whom he pleases

woodcook:


You should go back and read your first post and tell if that sounded like what you just wrote. Remember you saying "...who laid the foundation of our present predicament" that does not sound like one holding both the past and present administration accountable.

Not until we started calling you out, did you start shifting your stance towards but not strongly acknowledging the huge impact of the present administration in the present economic woes bedevilling our country

Lol... discernment bro... try to calm down and learn to comprehend simple things. When building a large structure such as a house or bridge, the job doesnt end in laying the foundation. However the foundation is a very critical part of the entire structure. Hopefully I wouldnt have to explain this also to you.

woodcook:


In response to your charts, the problem is that you have skillfully refused to accept the fact that the present government clearly told Nigerians that the then administration were doing a bad job running the country and given the chance they were going to fix it all. If the present government had come up with a robust economic policies we wouldnt have been in such a dire need (I am sure you remember how much oil was through out Obj tenure even at that we recorded progress)

Haven said the above for simplicity my positions are simple: as at today the present administration is no where near the fixing the economy as promised. That if not for "trial and error" even with the fall in oil price the situation wont have been this bad.

NB: I never said GEJ was a saint but then I am not the guy that stand bye and watch a dog being giving a bad just to hang it.

Please don't reply that guy again.
I perceive he is half-baked.

Are there any constructive activities to indicate to humans on the planet that the govt is taking the country out of recession?

Have there been any such constructive recession-exiting activities in the past?

What isn't fraudulent about raiding judges homes first, then asking them to step down based on evidence found in the raid but dining with and endorsing the secretary of the FG whose acts of public fund stealing did not need a midnight raid for it to come to the open?

Remember that substantial money was found in the judges' home, whose source he should give account of. However, there's no mystery about the jar from which the millions diverted by Bachir came from. It came from money put aside for Nigerians displaced in the IDP camps.

It is an insult to the collective intelligence of Nigerians, any kind of suggestion that this government has anything to do with anti-corruption

lalasticlala,this deserves the front-page in the spirit of fairness and balance.

Paschal Candle at least learn to speak and write proper English before wallowing in ur zombie infested mud! U are talking of banks and money news of today so the destruction of lives disregarded by ur master is perfectly alright? Try as u can, no appointment will come ur way because they already see ur infinite capacity to willingly undermine your own people so they don't need ur brand of sycophancy. If in doubt check Oby Ezekwesili and her relevance today after all her noisemaking a d drama.

PASCHAL28:
also reno, do not cry for us in south east. our christmas was very peaceful and calm. many accidents were not recorded unline before. there was security everywhere. no kidnapping.no bank robbery. so where did you get your facts. before military launch the finalbattle at sambisa,they knew boko haram members will escape. and south east might be the possible destination and south south. the essence is to checkmate the inlow of them. we are happy with what they did. the regret there was traffic they cause in some strategic places.

ScotsReferendum:


Afonjas now claim SE

Unfortunately this particular one is actually from Anambra state and a lost cause. Completely incoherent and stupid.

This particular brain is mummified in zombeism with stupidity calcified for good measure. He is absolutely incapable of reading with a non zombified brain

Pavarottii:

Am sure u didn't read d post. Who is stopping u from standing wiv Buhari. Was he not given the post of presidency on a platter of Gold. Abi is anybody dragging d post with him? So why r u sounding so pained like Buhari as ur president, ur wish has nt come to pass. Take a chill pill. Don't worry Buhari will be president till 2019 or even beyond. Nobody will impeach him. Enjoy ur president.
But my advice is next time u read the post wiv a non zombiedified brain. To get a clearer understanding b4 u comment.

Av a nice day.

obailala:
These shameless thieves (including the ones who front as 'pastor') who laid the foundation of the nation's current predicaments still have the guts to pick a pen and write nonsense about others..

The foundation of the rot and predicament of this country was effectively laid from the 70's particularly after the civil war and the current president played am active role in destroying this country. He has returned to further promote his bigotry and ethnic corruption so I wonder why u are acting like Nigeria was el-dorado till 2010 and now saint Bubu has come to fix things...the truth sets one free from zombeism at all times.

eyeview:
Reno Omokiri



Leadership matters in the development of nations. Today Aliko Dangote is worth less than half of what he was worth under former President Jonathan. He was worth $25 billion in 2014 and is now worth $12.4 billion today! Listen to the words spoken by Aliko Dangote about President Jonathan on Friday the 6th of September, 2013 in Nairobi while speaking to the political and business elite of Kenya: “As you all know, without good policies of government, there is no way a person like me from a big town like Kano can rise from a humble beginning to become the 25th richest person on earth. Without the policies of President Jonathan and also making sure that there is consistency in the policies of the government, this could not have happened”.

I wonder what Africa’s richest man would say about President Muhammadu Buhari behind closed doors. Hardly (or never) has a country deteriorated so speedily as Nigeria has under the stewardship (if you can call it that) of President Muhammadu Buhari. In just eighteen months, President Buhari has become the poster boy for the adage that it takes time to build but little or no time to destroy. And it is not just on the economic side that things have unraveled. Social justice, human rights and fundamental freedoms are all being rolled back under this administration.

Name your dog Buhari in today’s Nigeria and you will be diligently prosecuted but commit genocide in Southern Kaduna and you won’t even be charged! Openly behead a female evangelist and your case may be dismissed even if you are charged, but criticise a governor, who himself criticises wildly, and be speedily charged to court. Accuse PDP politicians and security forces arrest them before investigation. Produce proof of the Secretary to the Government of the Federation’s alleged corruption and the same forces are suddenly paralysed. Welcome to President Buhari’s new and improved Nigeria. Under President Muhammadu Buhari, Nigeria practices a dual legal system where the All Progressives Congress politicians are innocent until proven innocent. If you doubt me, then ask Rotimi Amaechi and Babachir Lawal who are attending Federal Executive Council to decide the fate of Nigeria while Femi Fani-Kayode and Olisa Metuh are in and out of court. Alas!

Corruption cannot kill corruption. When you fight corruption with double standard, it is not corruption you kill, but your integrity. And while the Southern Kaduna killings rage on and go seemingly unnoticed by our President, I was shocked to read that the Presidency had issued a statement condemning the recent death in police custody of Tochukwu Nnadi in South Africa. Not that I am happy that Tochukwu was killed. Far from it. I am sad. Very sad. But why condemn one death in South Africa and remain silent on genocide in Southern Kaduna? And then it finally hitme! If you are a Nigerian and you want the government of President Muhammadu Buhari to condemn your killing, you better make sure your killers kill you in Southern Africa and not in Southern Kaduna!

Still on Kaduna, I am particularly pained because I saw it coming. My grouse about the Christian Association of Nigeria which refused to heed the warnings of many of us who saw the direction the nation was and is still heading and gave strong warnings. I publicly warned the Body of Christ immediately after the killings of hundreds of Shiites (according to the official Kaduna White Paper on the killings which declared that over 300 Shiites were killed) that if we did not speak up for Shiites, our turn would come too. With what is happening now in Southern Kaduna, did I lie? You should not wait until injustice touches you before you speak up for justice! That is a lesson the world learnt from Germany when the SS kept on coming for one group or the other until there was no one left to talk again.

And the double standard continues to manifest themselves everywhere. For instance, it did not take the Economic and Financial Crimes Commission and the DSS this long to investigate and arrest PDP politicians. Why the foot-dragging on Babachir, the Baba of IDP funds? Why is he allowed to continue in office during his investigation, yet the same Presidency wanted accused judges to step down during theirs? Is there one rule for Babachir and another rule for the perceived enemies of President Muhammadu Buhari? One would think that a man accused of stealing from IDPs would be expeditiously investigated and tried. Or is it a case of when I see the broom I will pass over? When Stella Oduah and Barth Nnaji were accused of corruption (and a mere conflict of interest in the case of Nnaji), then President Goodluck Jonathan asked them to resign within weeks. Today, our so-called anti-corruption president, Muhammadu Buhari, is waiting for ‘further investigations’ before moving against the famous grass cutter, Babachir Lawal.With the likes of Rotimi Amaechi, who spent half a million hosting Wole Soyinka, I guess N270 million to allegedly clear grass for IDPs is no big deal to President Muhammadu Buhari!

And the same government that arrested several newspaper publishers and proprietors and also forced them to refund monies that they received for public relations and media agency is now doing something similar in a case of do as I say, don’t do as I do.
The Buhari administration budgeted N180 million to ‘facilitate appearances with social media influencers’. This from a so-called anti-corruption regime! After ‘facilitating’ the Social Media influencers with these taxpayers’ millions, the same administration sends the EFCC to arrest its political opponents for ‘facilitating’ their own media associates! Apparently, this administration wants a monopoly on ‘facilitation’ and jealously guards the monopoly using law enforcement agents paid with our tax Naira. Even conservative global media houses now feel compelled to write about the double standard that exists in Nigeria under President Buhari because they are so glaring to the point of being blatant. Writing in December 2016 for instance, Bloomberg had this to say about Buhari’s Nigeria: “Out of 17 top positions in the army, navy, air force and other security agencies, (only) three are from the south.” This is coming from a foreign news medium! Look at the excuse the President gave for not attending the South-east Economic and Security Summit in Enugu. In an official statement, the Presidency said “stakeholders from the South- east came and advised him (the President) not go in view of the closeness of the date to Christmas; that given the sensitivity of the period to the people, a presidential visit may come with over exertion and possibly, be disruptive of Christmas.”

Even if you must lie, must the lie be so unintelligent? The President did not attend and did not send a representative because “of the closeness of the date to Christmas”, yet he still approved the military and paramilitary’ Operation Python Dance which made 2016 the worst year for South easterners since the civil war ended 47 years ago! And yet when the same President was compelled by bad weather to cancel his state visit to Bauchi State on December 29, 2016, he felt moved enough to tape a video message in Hausa, explaining to the people of Bauchi why he was unable to come and apologising to them profusely. You may recall that President Buhari got something like 97% of the votes of Bauchi State but only got less than 5% of the votes of the South-eastern states. Those who thought the President was joking in July 23, 2015 when he said “the constituents, for example, gave me 97% cannot in all honesty be treated on some issues with constituencies that gave me 5%” now know that our President was speaking the truth, the whole truth and nothing but the truth. Fellow Nigerians, brace up. Double standard is now an official state policy!
http://www.thisdaylive.com/index.php/2017/01/07/president-buharis-double-standard-syndrome/

Another rat just left his hole.
Mr Omokiri, thank your stars that majority of Nigerians are incredibly ignorant so there is always a segment of the population especially the unintelligent ones who read from your likes, FFk, Abati etc the same media hawks of the previous administration that looked on in silence when they looted us blind is now telling us what wrong this administration is doing to us.
Left for me, you dont deserve any response but I cant wait when you will join some folks in Prison. For the benefit of the unintelligent Nigerians who can barely think for themselves.

** Dangote lost money to the devaluation of the Naira, an economic move necessitated by forex shortages, all our oil producing competitors both OPEC and non OPEC did the same so why do you think Nigeria will have a different solution?
Your boss Jonathan between August 2014 when crude price halved, till May 2015, he devalued the naira from 197 to 220 to a dollar, may be he was stup!d as well.
The man who was tasked with the policy implementation allegedly made a mess of it, the CBN governor not Buhari. He was hired by your boss Jonathan not Buhari so if you and Dangote have any issues with his implementation framework it behooves common sense to write to one of the left overs of your boss's incompetence.

Back to Dangote, while you and I were losing money (ie if you are not too dumb to realise you lost money too) to devaluation, Dangote got more FG concessions than any other Nigerian company I know of, so if Dangote lost money where he made money due to unavoidable circumstances, in insurance it is called "act of God" regardless of what Dangote says in Kenya.


** The crisis in Southern Kaduna though regrettable due to the wanton loss of lives however can be bifurcated in two national security canopies. The herdsmen brigandage and the Shia rampage.
The herdsmen brigandage has gotten the attention of Buhari and the NA has launched Operation Mesa to combat it so far since they started the SE has not been attacked, for kaduna, operation Yaki was launched for the same purpose, personally something is done about the situation and sane Nigerians know that.

What baffles me as a Nigerian is that herdsmen went on rampage under the previous administration you served, as always, nothing was done and mischievous people like you developed leprosy that incapacitated you from writing the same way you are writing unde r the current administration, do you think we are stup!d?
Don't you think that the current herdsmen challenge is a carry over of the inactions and incompetence of the government you served? We have forgiven you guys but do not distract this government that still have the sincerity of purpose to do the right things.

On the Shia rampage, unlike the incompetent administration you served that slept with Boko haram for 4yrs this administration will not do the same, Iran is a huge threat to any country with substansive Sunni population using its Shia minions, so far they have destabilised 7 countries in the middle east, unless you want us to have an Ansarulla Allah or a Hezbollah in our back yard, The present administration has our mandate to crush any clandestine uprising .


**On Anti corruption, I am shocked that an appendage of the previous administration will wish to enlighten us on selective Justice. Where was Justice when your administration was stealing from us?
Incase you are too dumb to notice, the Nigerian people you have been stealing from have decided to bring a government that will teach you guys a lesson, its judgement day baby!! get used to it.


** Babachair Lawal has been stripped of almost all his responsibilities while we wait the outcome of the investigations.

freeze001:


The foundation of the rot and predicament of this country was effectively laid from the 70's particularly after the civil war and the current president played am active role in destroying this country. He has returned to further promote his bigotry and ethnic corruption so I wonder why u ate acting like Nigeria was el-dorado till 2010 and now saint Bubu has come to fix things...the truth sets one free from zombeism at all times.

The point I made was simple, fake Pastor Reno a.k.a. Wendell and his boss are also part and parcel of the mess we are in today, they are co-architects so he shouldnt try to hypocritically bend the story to paint himself a saint cos such nonsense will only appeal to jonathanian zombies like yourself.

coolscott:

Please don't reply that guy again.
I perceive he is half-baked.

Are there any constructive activities to indicate to humans on the planet that the govt is taking the country out of recession?

Have there been any such constructive recession-exiting activities in the past?

What isn't fraudulent about raiding judges homes first, then asking them to step down based on evidence found in the raid but dining with and endorsing the secretary of the FG whose acts of public fund stealing did not need a midnight raid for it to come to the open?

Remember that substantial money was found in the judges' home, whose source he should give account of. However, there's no mystery about the jar from which the millions diverted by Bachir came from. It came from money put aside for Nigerians displaced in the IDP camps.

It is an insult to the collective intelligence of Nigerians, any kind of suggestion that this government has anything to do with anti-corruption

Look at this shameless one, we talking of the recession and activities that led to it, you are busy yapping about arrest of judges. With your inability to even grasp a simple discussion yet you still have the guts to label someone 'half-baked'?... A totally uncooked piece of chaff thinks someone else is half baked? Wnderful!

jpphilips:
[s]

Another rat just left his hole.
Mr Omokiri, thank your stars that majority of Nigerians are incredibly ignorant so there is always a segment of the population especially the unintelligent ones who read from your likes, FFk, Abati etc the same media hawks of the previous administration that looked on in silence when they looted us blind is now telling us what wrong this administration is doing to us.
Left for me, you dont deserve any response but I cant wait when you will join some folks in Prison. For the benefit of the unintelligent Nigerians who can barely think for themselves.

** Dangote lost money to the devaluation of the Naira, an economic move necessitated by forex shortages, all our oil producing competitors both OPEC and non OPEC did the same so why do you think Nigeria will have a different solution?
Your boss Jonathan between August 2014 when crude price halved, till May 2015, he devalued the naira from 197 to 220 to a dollar, may be he was stup!d as well.
The man who was tasked with the policy implementation allegedly made a mess of it, the CBN governor not Buhari. He was hired by your boss Jonathan not Buhari so if you and Dangote have any issues with his implementation framework it behooves common sense to write to one of the left overs of your boss's incompetence.

Back to Dangote, while you and I were losing money (ie if you are not too dumb to realise you lost money too) to devaluation, Dangote got more FG concessions than any other Nigerian company I know of, so if Dangote lost money where he made money due to unavoidable circumstances, in insurance it is called "act of God" regardless of what Dangote says in Kenya.


** The crisis in Southern Kaduna though regrettable due to the wanton loss of lives however can be bifurcated in two national security canopies. The herdsmen brigandage and the Shia rampage.
The herdsmen brigandage has gotten the attention of Buhari and the NA has launched Operation Mesa to combat it so far since they started the SE has not been attacked, for kaduna, operation Yaki was launched for the same purpose, personally something is done about the situation and sane Nigerians know that.

What baffles me as a Nigerian is that herdsmen went on rampage under the previous administration you served, as always, nothing was done and mischievous people like you developed leprosy that incapacitated you from writing the same way you are writing unde r the current administration, do you think we are stup!d?
Don't you think that the current herdsmen challenge is a carry over of the inactions and incompetence of the government you served? We have forgiven you guys but do not distract this government that still have the sincerity of purpose to do the right things.

On the Shia rampage, unlike the incompetent administration you served that slept with Boko haram for 4yrs this administration will not do the same, Iran is a huge threat to any country with substansive Sunni population using its Shia minions, so far they have destabilised 7 countries in the middle east, unless you want us to have an Ansarulla Allah or a Hezbollah in our back yard, The present administration has our mandate to crush any clandestine uprising .


**On Anti corruption, I am shocked that an appendage of the previous administration will wish to enlighten us on selective Justice. Where was Justice when your administration was stealing from us?
Incase you are too dumb to notice, the Nigerian people you have been stealing from have decided to bring a government that will teach you guys a lesson, its judgement day baby!! get used to it.


** Babachair Lawal has been stripped of almost all his responsibilities while we wait the outcome of the investigations.[/s].

This guy just posted a pile of nonsense.

The Fulani raid is still going on and Babachir Lawal is still going on strong. What useless investigation are they still doing when the likes of Fani and other political foes are hounded into dungeons for weeks while the EFCC begins to look for plausible clues.

Buhari is useless and also an illiterate

Some gals mistake love proposals for adoption.When u propose to them,it's like they become ophans all of a sudden. They expect u to pay for everyfin....From clothing,phones,hair do to call credits.Guys may u never meet dis kind of ladies in 2017.

PASCHAL28:
reno, you are not ashamed of yourself. did you read newspapers today? did you see what court told 3 banks about alison money? you cannot fool us again. you are working for your pocket not for nigeria people. I stand with Buhari. You should go and stand with dangote

you can't even spell her name correctly, that shows how dumb you and buhari are

#who cares about there government anymore

Reno has gone mad again.

Ten12:
U really expected me to read all dat? abi buhari dey argue wit u?

Lazy man.

that reno guy to like grammar...and me neva chop na grammar i go chop.

Geniro:


This guy just posted a pile of nonsense.

The Fulani raid is still going on and Babachir Lawal is still going on strong. What useless investigation are they still doing when the likes of Fani and other political foes are hounded into dungeons for weeks while the EFCC begins to look for plausible clues.

Fani-Kayode is a politician, I am an electorate, whatever happens to him is none of my concern, Babachair going strong? are you sure you have a Television?

Ten12:
U really expected me to read all dat? abi buhari dey argue wit u?

are you the stereotypical black man who if they want to hide something from, they hide it in a book?

obailala:

A little piece of advice for you, always endeavour to put in a little personal effort in reading, sourcing correct data and discerning information, else you will be at the mercy of political propagandists who dish out beautiful nonsense figures to hoodwink you because they know you wouldn't bother researching.

You said Nigeria was the third fastest growing economy in the world right?... I'm sure you said that based on this 'FORECAST' by CNN


Now kindly take a second look at the words in that image, it was only an OPTIMISTIC FORECAST for 2015 based on the high GDP growth rate recorded early in 2014. But guess what?... It did not eventually materialise because as oil price started dropping from mid-2014, Nigeria's growth which is tied to oil price also began slowing proportionally and as at mid-2015 when GEJ was bowing out, Nigeria's GDP growth rate had already crashed to 2.35%



I don't think I need to speak further, try and do your own personal research next time instead of relying on info from political propagandists.



1. Oh yes this was a wrong move

2. This is the typical nonsense that happens in Nigeria due to the kind of political atmosphere we have. It did not start with Buhari and it will not end with him. Also budget padding has always existed, it was only given attention this time because Nigerians are now more vigilant.

3. This is inconsequential, the investors aren't fools not to do their own investigations to know what is obtainable in the Nigerian business climate. Buhari's honest words may have been politically incorrect and unnecessary, but that is not what chased any investors. Investors don't take their money to places where there isn't money. Nigeria relies purely on oil money, oil prices rose to the peak and investors flocked in, oil prices began dropping (less money in economy) and investors started bailing out, very simple logic.

4. Over 60% drop in oil prices is what led to forex scarcity seeing that over 90% of Nigeria's forex comes from oil export. Nigeria's foreign reserves fell rapidly from $38.5 billion to $28.5 billion in the last 6 months of GEJ, Naira also crashed from 160 to 230 to $1 within same period and this was depite that oil still sold above $60. With the rapid drop in forex reserves in those last 6 months, you don't need to be told what would have happened had the reserves dropped to zero (go read about Venezuela); hence the restrictions to forex was an inevitable life saving venture when the new govt came in. I dont need to explain this further, your mind is already configured not to understand it.

5. Buhari handled the Niger delta and Ipob issue poorly.

6. What key sector exactly needs to be handled by a particualr tribe?... Leaders employ/appoint who they believe they can work with, OBJ did it, Yaradua and GEJ also did this. Can you please point out an example where appointing a wrong tribe has hindered progress in a particular sector and can you please name who or the tribe that should have been appointed into the position for it to be 'correct'?


Here we go again with people who have no idea on the 'time value of money'. In 1999, Nigeria's import bill was less than 10% of what it is presently, so even that $3billion which OBJ inherited then was far more valuable than $30 billion in 2016 when all Nigerians now own international mastercards, Visacards, paypal accounts, run international businesses, consume foreign goods including handkerchiefs and toothpicks etc. In summary, the demand for forex today is several multiples more than what it was in 1999 so the $3bn in 1999 argument is nonsense.

Something else you need to ask is what the wage bill and general recurrent expenditure in 1999 was compared to today; you can start by asking yourself how much was minimum wage and size of the civil service was in 1999 vs today then you would understand why a man receiving N10k salary in 1999 could be more comfortable than a person receiving 50k salary today.

Take a trip back to that chart I posted above on the country's GPD growth rate from 2014 till date and except you choose to stubbornly lie to yourself due to some meaningless sentiments, it would be clear to you that the country was already accelerating to recession before GEJ handed over.

Just to correct and clarify the erroneous figures you quoted above, during the Yaradua/GEJ era, oil prices never dropped to $26, rather it fell to $38 and this drop lasted for only 6 months compared to the present drop which has lasted close to 3 years; in addition, the massive savings in the CBN reserves is what rescued Nigeria from falling into problems in those 6 months, specifically $20billion was spent in mid-2008 to ealry 2009 to bail Nigeria out of that oil price drop, hence the continued insistence on the lack of savings by GEJ during super high oil prices being a great catalyst to the current recession.

Your post is well researched and calmly pressented. This is a good one.

Thanks.

eyeview:

I think it's a wrong postulation from you to state that the nation was already headed into recession before Buhari took charge. How can a nation whose economic indices were on a progressive growth during Gej be headed for recession. It grew to the point that it became the third fastest growing economy in the whole world.
Let's stop falling for the cheap propaganda APC and Buhari wants us to believe.
The truth is that every thing needed to reverse the economy of any thriving nation was experimented by Buhari on assumption of power. Some of these reverse gear policies and actions included:
1, Spending over 7 months to set up a ministerial team to drive the economy
2, Putting square pegs in round holes in the ministerial slots. None of the ministers were appointed in their areas of competence, this will lead to further loss of time to understand their sector and ofcourse, being novice in their sectors, they were at the mercy of the perm secs and DGs who were doing their 'deals" under the ministers' nose. A typical example was the budget padding.
3, Going to the international scene to label your country as criminals with only you as the saint will certainly scare away investors.
4, Outrighting banning of Forex to users and parallel markets automatically caused scarcity of forex which in turn caused the free fall of the naira against major currencies. That effect is responsible for 80 percent of the rising cost of goods and services today.
5, The division of the country on tribal lines with his unguarded comments. Since you and I agree that oil is still our sole source of income, there is a reason why previous govts treat the Niger delta, the goose that lays the golden egg with caution. You don't go to the foreign media to announce that the region that produce the wealth can not receive dividends of your govt because they voted their son and not you. In other words, you will take their wealth and develop your region and ignore them. The resultant effect was the bombing of pipelines which saw to the great decline of national income.
6, The sacrificing of merit on the altar of tribal bigotry. There are key offices and appointments you don't make based on tribal or any form of sentiment. Such offices are key but Buhari on assumption brought to fore his tribal bigotry. People who could have handled some key sectors were overlooked for 'brothers from the North's who had no experience in running dynamic systems like ours.

The list is endless. Buhari is purely responsible for the mess he has plunged this nation into.

He claims there was no money when he took over.
Obj received paltry USD 3bn from abdulsalaam yet we had no recession. He receives USD 30bn from Gej and he plunges the nation into recession.

He claims oil price fell at his tenure. Oil has been selling at an average of USD 55 per barrel. It sold for about USD 26 to USD 30 in yaradua and Gej respectively, yet we didn't enter recession.

At what point will it be clear to the likes of you that Buhari is solely responsible for our predicament

Stop being half smart. The economy was clearly on a decline b4 handover.

PASCHAL28:
reno, you are not ashamed of yourself. did you read newspapers today? did you see what court told 3 banks about alison money? you cannot fool us again. you are working for your pocket not for nigeria people. I stand with Buhari. You should go and stand with dangote

And when buhari is out of power, his Can of worms will also be opened

obailala:
These shameless thieves (including the ones who front as 'pastor') who laid the foundation of the nation's current predicaments still have the guts to pick a pen and write nonsense about others..

You are still repeating these expired lines of "last govt laid foundation for......".
Even the APC governors are saying otherwise.

obailala:
These shameless thieves (including the ones who front as 'pastor') who laid the foundation of the nation's current predicaments still have the guts to pick a pen and write nonsense about others..

did you say "laid the foundation?"

Honest answer please.................when were you born?

BraniacX:
are you the stereotypical black man who if they want to hide something from, they hide it in a book?

haha But u know am black nah nd de gods reveal things to me so u can't hide something from me under any pretense

mmsen:


Lazy man.

Haha yes sir

jpphilips:


Fani-Kayode is a politician, I am an electorate, whatever happens to him is none of my concern, Babachair going strong? are you sure you have a Television?

You are a paid electorate commissioned to defend hypocrisy. Who is the current SGF ? Me offcourse. Nonsense.

You that have a TV ? update us on your lie.