even using the opec Chart ...
2010 =77$/b
2011=107$/b
2012=109/b
2013=105$/b
2014=96$/b
2015=50$/b

oil never sold for 120$ throughout GEJ tenure.....

9jakohai:


From your source..



Whereas from mine...



You used local American prices...I used the international price...as determined in New York, and London.

Here is OPEC'S chart....shows oil above 100 USD from 2011-13.

psychologist:
Why is nobody saying #occupynigeria in January 2018

we want to give them false sense of security, to give them the shocker of their life in 2019.

9jakohai:
There is a simple explanation, and no i am not defending the govt.

1.During GEJ'S govt, the oil price was $94-120. That meant we had enough dollars to buffer the naira...and as a result the value of the naira was stronger..meaning we needed fewer naira to import rice.

2.Now, during Old Man Bubu's govt, the price of oil has fallen to $28-65. This means we have less dollars to buffer the naira, and the value falls.Meaning we need more naira to import the rice.

3.If oil jumps up to $100 again, rice prices will fall...see1 .

4.What does this mean?

a)INCREASE DOMESTIC RICE PRODUCTION...via mechanised farming and irrigation

b)Get other sources of dollars...ie industrialization., industrialization.

Fin.

Nigerians need miracle worker. Sm people turn blind eyes to glaring facts and play the blame game.

9jakohai:


I am not a Buhari supporter, nor a GEJ supporter.

I am prepared only to support a leader that invests in actual solutions to take us off oil, and also ends subsidies too...

PDP nor APC is it.

Present yourself with the plan let's decided. Enuff of wishful thinking it is a Major party of the problem.

phineas:


I have time for you people preaching this GEJ was great for our economy trash.Yoh all have no conscience or are just un educated

By how much did the administrations be for him subsidise on lesser crude oil returns and how much did they save.One paid off all our debts and established the excess crude account your hero drained.What did GEJ do...build almajiris schools and drained the countries future.You all should get on your knees and thank the present economic team for saving the day

Oga, the question is very simple.

How much did GEJ pay for subsidy during his 5 years tenure?

And since you want to bring other administrations to the matter, you can also compare how much they paid to what GEJ paid.

-Lord

deomelo:
[s][/s]









Nigeria was already broke and in recession before the elections and as far back as 2014 because Jona was borrowing hundreds of billions to pay workers salary even though Nigeria earned record $s from oil under jona with oil selling for over $100/barrel.


Question, was Jona borrowing hundreds of billions to pay workers salary if everything was so great under him?


Do you even mind listing the projects he innitiated and commissioned while in office?


You people act as if we are not Nigerians or clueless about Jona and his admin.

Was oil at $100/barrel in 2015?

If no, can you kindly tell me the price in 2015.

-Lord

9jakohai:
There is a simple explanation, and no i am not defending the govt.

1.During GEJ'S govt, the oil price was $94-120. That meant we had enough dollars to buffer the naira...and as a result the value of the naira was stronger..meaning we needed fewer naira to import rice.

2.Now, during Old Man Bubu's govt, the price of oil has fallen to $28-65. This means we have less dollars to buffer the naira, and the value falls.Meaning we need more naira to import the rice.

3.If oil jumps up to $100 again, rice prices will fall...see1 .

4.What does this mean?

a)INCREASE DOMESTIC RICE PRODUCTION...via mechanised farming and irrigation

b)Get other sources of dollars...ie industrialization., industrialization.

Fin.

You are intelligent and you know what's truly going on.........unlike majority of these NL cretins.

mikolo80:
what has the accord candidate achieved?

He is loved by his people and was re-elected. Free school buses, free Christmas and salah gifts, he tars the roads, he mixes with commoners and nothing happens. He won his constituency with a wide margin. I am also trying to say we have power to vote in and vote out whoever we like.

mccoy47:
I noticed most of the commenters on FB wia from the northern extraction. I guess the sai baba jazz is fading

Even in southwest its only strong in Lagos only amongst the yorubas anyway.

deomelo:





If everything was great under Jona, why was he borrowing billions to pay workers salary after making so much money and borrowing billions from china?

1.Our leaders past do leave some legacies. I think IBB was bad...but he did something good called DFFRI and NDE...the latter which continues to help Nigerians today. Also set up the FRSC and NDLEA. Abacha was a dictator...but the failed banks tribunal he set up restored some sanity into our banking sector after the messy scenes in the early 1990's.

However, Nigeria can be strong only via industries...and that is why i don't think most of our leaders are good.

2.Jona borrowed..yes. He was a bad fiscal manager. He also had this problem. Nigeria needs oil to be at $123 per barrel to balance the books. While oil was above $100 from 2011-14..it never stayed above $120. Then if he had been able to deregulate back in 2012...he might have saved billions from the complete subsidy removal.

9jakohai:


I am not a Buhari supporter, nor a GEJ supporter.

I am prepared only to support a leader that invests in actual solutions to take us off oil, and also ends subsidies too...

PDP nor APC is it.

I don't get all of you.is it that you don't know or you dont ask.do you know we have an economic growth and recovery plan.do you know it has clear goals and strategies to bring Nigeria out of its dependence on oil and self sustainable in in particular areas by 2021.It is been funded and implementation has commenced,that explains the rice drama partly

have you even read it?It's on the ministry of budget and planning website and for agricultural aspect, they have a clear implementation strategy and M&E metrics

it's everyone's responsibility to stay informed.I am not in Government or politics But I know.Its our duty to know what's happening and support or criticise appropriately. having a plan is good we should all collectively watch its progress and the next administration continues its implementation.

PS loose lips sink ships.Do your part stay informed

almarthins:


Nigerians need miracle worker. Sm people turn blind eyes to glaring facts and play the blame game.

This forum is highly populated with low IQ individuals.

Their opinion must be suppressed at all costs and means.

ba7man:
You are intelligent and you know what's truly going on.........unlike majority of these NL cretins.

Thanks.

Most African economies have this idea that if we sell resource X we will live on the cash...

Meanwhile developed countries take resource X and make more products from it...which they sell and earn far higher cash than we can dream of.

Something has to change...

Hope Nigerians learnt their lesson !

clickwtB:
I will never regret partaking in voting you OUT!16years damage can not be ameliorated in just 4years.The monumental corruption which is still ongoing but in a lower form was the highest and brazen during GEJs reign/regime.The nation will have sunk/collapsed if your regime continued!
If each succesive past goverment has done averagely well cumulatively we wont be in this precarious situation!You allowed excessive impunity to occur from that of your wife to that of your ministers/aides!PMB the great is not perfect but has the right&high patriotism and is integrity laden/loaded!

Wait a minute, i thought you people voted for him to fix the economy, to make $1=#1, to build and maintain the refinery so that we can refine our oil here in Nigeria. I thought you people voted him so that he will build roads. Mr integrity have the like of Amechi as his minister, Maina a corrupt man was employed through back-door with his endorsement, Group managing Director of NNPC spending unapproved funds under his watch. I have heard and seen a company that was almost bankrupt as a result of bad leadership, as soon as the leadership were changed, the new leader fixed the problem and the company bounce back and he was praised for his good work. You change GEJ for Buhari, 3 years counting, you are still blaming GEJ. Abah continue blaming...

ABIOLAXYZ:
GEJ the moses of our time

Most Nigerians are so so stupid, so it's the price of rice that is used measure the performance of government. Imported rice for that matter. But if we may judge by that, how much was a bag of rice during IBB and Abacha regime? GEJ no matter how stupid Nigerians are is the most useless president Nigeria will ever have.

9jakohai:


Thanks.

Most African economies have this idea that if we sell resource X we will live on the cash...

Meanwhile developed countries take resource X and make more products from it...which they sell and earn far higher cash than we can dream of.

Something has to change...

It's the mental orientation that needs a paradigm shift.

Something drastic needs to take place to awaken them mentally.

ffo:
Some Nigerians are actually regretting and asking for forgiveness.

we've not regretted any bit for voting out the clueless one so shut the fvck up

[quote author=ffo post=63592767]Below



https://m.facebook.com/story.php?story_fbid=1723560874360946&id=105479482835768[/quote so those zombies have stated regretting there action, odikwa good oooh

deomelo:




I know about the $2 billion he looted and gave to Dasulki to share with his cronies and corrupt gangs. That's a documented fact.



1. My own question, why was jona borrowing hundreds of billions if Nigeria was not in recession under him or if the economy was so great under him.

2. If Jona was borrowing billions to pay workers salary when oil was selling for almost $100/barrel, please tell us how Nigeria should be doing better under PMB with oil selling for as low as $27 when he assumed office.?

as low as 27 dollars and the boys in the delta wasting get half of it by destroying installations effectively making oil revenue almost non existent

9jakohai:


1.Our leaders past do leave some legacies. I think IBB was bad...but he did something good called DFFRI and NDE...the latter which continues to help Nigerians today. Also set up the FRSC and NDLEA. Abacha was a dictator...but the failed banks tribunal he set up restored some sanity into our banking sector after the messy scenes in the early 1990's.

However, Nigeria can be strong only via industries...and that is why i don't think most of our leaders are good.

2.Jona borrowed..yes. He was a bad fiscal manager. He also had this problem. Nigeria needs oil to be at $123 per barrel to balance the books. While oil was above $100 from 2011-14..it never stayed above $120. Then if he had been able to deregulate back in 2012...he might have saved billions from the complete subsidy removal.

First off, he was not a bad fiscal manager.

He could easily have decided to do very little if any infrastructure or projects like OBJ, then save a lot in our reserves to $100+b. Like Buhari is currently doing.

Trust me, his administration would have looted more if he took this route. But in his haste to leave a legacy he funneled virtually all of our earnings to projects, subsidy and the likes. If he had gotten his way with the subsidy removal, he'd have also sold the refineries. That'd have been the master stroke.

It'd mean savings from subsidy, savings from the billions we've spent on repairing the ailing refineries, and the multiplier effect of a fully deregulated downstream oil sector.

-Lord

FILEBE:


He is loved by his people and was re-elected. Free school buses, free Christmas and salah gifts, he tars the roads, he mixes with commoners and nothing happens. He won his constituency with a wide margin. I am also trying to say we have power to vote in and vote out whoever we like.

who free stuff Epp. Breeds laziness. But good for him winning reelection as a minority party. I agree we have the power but we cannot force candidates to run for office. We have to choose among the bold greedy ones cos the 'righteous ' are waiting for godfather to come and beg them in their bedroom. It's like a fine girl choosing an ugly husband because the fine one was too scared to ask her out

nely:
Thank you GEJ, now we understood what you meant in 2015,that we will celebrate you when you leave office, please on behalf of my fellow Nigerians we are sorry

who are the we? Will u shut up? Bloody Ipob pig

Amarabae:
Far better than my useless animal father

fixed.
Pig

smirn:

Most Nigerians are so so stupid, so it's the price of rice that is used measure the performance of government. Imported rice for that matter. But if we may judge by that, how much was a bag of rice during IBB and Abacha regime? GEJ no matter how stupid Nigerians are is the most useless president Nigeria will ever have.

This is really unfortunate. It has gotten so bad that politicians now know instinctively that if you give Nigerians a little bit of rice they are willing to surrender their lives to you for next four years.
This same scenario is playing out right now in Ekiti. No industry, no agricultural projects, absolutely no means of generating income besides the monthly hand out from Abuja. It is like the state is on the dole.

LordAdam16:


Oga, the question is very simple.

How much did GEJ pay for subsidy during his 5 years tenure?

And since you want to bring other administrations to the matter, you can also compare how much they paid to what GEJ paid.

-Lord

Mr GEJ supporter.you do not have the intellect to be engaged.That is not the indicator to measure his performance. It's like asking how much loans did OBJ pay off and how much did GEJ have to pay off.for the record he incured new loans at oil over 100 dollars per barrel while OBJ paid of years of loans at how much per barrel

For posterity and as my patriotic duty, I will always spit over stupid threads like this that try to paint him a hero of our economy.It is nothing but plain evil and so are you sir for promoting it

phineas:


I don't get all of you.is it that you don't know or you dont ask.do you know we have an economic growth and recovery plan.do you know it has clear goals and strategies to bring Nigeria out of its dependence on oil and self sustainable in in particular areas by 2021.It is been funded and implementation has commenced,that explains the rice drama partly

have you even read it?It's on the ministry of budget and planning website and for agricultural aspect, they have a clear implementation strategy and M&E metrics

it's everyone's responsibility to stay informed.I am not in Government or politics But I know.Its our duty to know what's happening and support or criticise appropriately. having a plan is good we should all collectively watch its progress and the next administration continues its implementation.

PS loose lips sink ships.Do your part stay informed

Have you read the EGRP?

The same EGRP that took 20 months to put together. Or how is it going to be funded when implementation of the 2017 budget is less than 30%.

What areas does it want us to be self-sustainable in?

Oil--it's counting on Dangote's refinery, which may not come online until 2020.
Rice--Rice revolution had already started in 2013. We already recorded more than 60% reduction in rice import by 2015. By the time the EGRP was unveiled, it was already a success as CBN complimented the past administration's efforts with the launch of the Anchor's Borrowers Plan.

What else does it have. 5% growth rate? We were at 7% growth rate in 2013.

Buhari and his administration is a disaster. A bunch of class 3 pupils would do better.

Talking like the EGRP is some magical blueprint.

-Lord

LordAdam16:


Did he loot $2b?

Or he appropriated $2b over a 4 year period to the NSA office?

Funds not legally and constitutionally appropriated by the Nigerian legislature = illegal and looted funds especially considering the fact that the funds was shared with his cronies and it is on record that jona himself sent his cronies like metu to dasuki for cash withdrawal from the stolen funds.



[quote]Or does loot have a new meaning?

No, it was looted and shared with jona's cronies.

Babangida looted $12b in one year.

This is about jona, not IBB, stay focused, I'm not interested in needless distraction WITH OTHER PEOPLE.

OBJ spent $16b on electricity.

OBJ and Jona = PDP and both equally responsible for our power situation since both left us with darkness.

Yet GEJ was the greatest looter.

Back to the looted $2 billion he gave to dasuki to share with his cronies per dasuki ATM national ATM.

And I should ask you, how much out of the so-called $2b has been recovered? How do you reconcile that less than N10b was recovered from a loot of more than N300b?

Absolutely irrelevant, what's relevant remains the fact that the funds was stolen and given to dasuki to share with joan's cronies.

To answer your questions:

1. Are you saying no government in the world borrows? Or do you think only our revenue would have been enough to pay for the expensive subsidy and tons of ongoing projects under GEJ?

Governments borrow to finance capital projects, not to keep paying workers salary especial after accumulating the largest oil revenue ever.

And since PMB hasn't commissioned a new project and halted other ongoing projects, what is he using the money he's getting for?

No, I asked you to list what GEJ did with the largest oil revenue in the history of Nigeria so let's see you answer first before this distraction.

2. Can you provide proof that GEJ was borrowing to pay salaries when oil was at $100/barrel?

Crude oil prices fell sharply in the fourth quarter of 2014 as robust global production exceeded demand. After reaching monthly peaks of $112 per barrel (bbl) and $105/bbl in June.

https://www.eia.gov/todayinenergy/detail.php?id=19451

phineas:


Mr GEJ supporter.you do not have the intellect to be engaged.That is not the indicator to measure his performance. It's like asking how much loans did OBJ pay off and how much did GEJ have to pay off.for the record he in cured new loans at oil over 100 dollars per barrel while OBJ paid of years of loan at how much per barrel

For posterity I will always spit over stupid threads like this that try to paint him a hero of our economy.It is nothing but plain evil and so are you sir for promoting it

Answer the question first, then type whatever your point is.

Simply answer the question.

-Lord

LordAdam16:


Have you read the EGRP?

The same EGRP that took 20 months to put together. Or how is it going to be funded when implementation of the 2017 budget is less than 30%.

What areas does it want us to be self-sustainable in?

Oil--it's counting on Dangote's refinery, which may not come online until 2020.
Rice--Rice revolution had already started in 2013. We already recorded more than 60% reduction in rice import by 2015. By the time the EGRP was unveiled, it was already a success as CBN complimented the past administration's efforts with the launch of the Anchor's Borrowers Plan.

What else does it have. 5% growth rate? We were at 7% growth rate in 2013.

Buhari and his administration is a disaster. A bunch of class 3 pupils would do better.

Talking like the EGRP is some magical blueprint.

-Lord

Goodness4525:
Neither of them is worth LGA chairmen in the first place with what they can offer all our leaders are blindfolded with the greed of continuity in power unlike Nelson Mandela

You are a patriotic Nigerian.
Thank you.

mikolo80:
who free stuff Epp. Breeds laziness. But good for him winning reelection as a minority party. I agree we have the power but we cannot force candidates to run for office. We have to choose among the bold greedy ones cos the 'righteous ' are waiting for godfather to come and beg them in their bedroom. It's like a fine girl choosing an ugly husband because the fine one was too scared to ask her out

Yes you have a point here but we can try what other parties churn out. Experience has failed us in this country. We have been recycling leadership, same old leaders. We will evaluate what other parties Re coming out with and vote. APC and PDP will fail us again. In Lagos sha, Ambode is not doing bad.