AlPeter:
LOL your selective amnesia is really funny. Now take those same Obasanjo facts and compare with that of your hero's. How much was the foreign reserve before oga clueless took power? Over $60billion. How much did he leave? Far less than $20billion. How much was the dept? At an all time low OBJ AND YAR ADUA had almost cleared it! How much was it when the ineffectual buffoon left? As high or even higher than before with almost every State owing more than 6months salary, some as high as 18months. How much was oil prices during the period of The IB's rule? An average of $100/barrel! What happened to all the funds? Under whom did naira begin to crash? Jonathan. Who paid the salaries owed by the Jonathan administration?. What is the foreign reserve now? Over $25billion. Who built it up?. Oga let's compare and contrast.
Foreign reserve 2018
https://tradingeconomics.com/nigeria/foreign-exchange-reserves

the internet never forgets


Point of correction: The foreign reserves at the time Jona left office WAS NOT LESS THAN $20BILLION. IT WAS ABOUT $30BILLION. Your figure was one of the propaganda rumours being peddled by the APC until people from the past administration came out and clarified things when the whining from Buhari got too loud and he was claiming that the PDP administration left "empty coffers" before handover.

Another point of correction: It was not Jonathan who was owing salaries, it was some state government! Some governors are still owing till today, a perfect example is APC's Rochas Okorocha of Imo state who has been owing and keeps slashing workers' salaries at will whenever he decides to pay. Go and ask Imo state government workers to verify.

Another prominent owing governor is APC's Yahaya Bello of Kogi State. Kogi workers are crying under his burden.

Yet another prominent owing governor is APC's Samuel Ortom of Benue State. Benue civil servants were being owed under the past PDP administration of Gabriel Suswan, and they voted in Ortom who gave them the hope that he will make things right, but till today, the same Benue workers are still being owed salaries, and their woes have been compounded by the blood-sucking killer herdsmen!

When Jonathan took over, the foreign reserves was about $60billion like you rightly said, and when he left it was about $30billion. But at least things were working relatively fine in Nigeria, inflation was under control. there were no massive job losses. businesses were thriving and foreign capital was coming in because of a relatively stable set of government policies.

I personally could see the massive infrastructural projects going on all around the country at the same time. From what i personally witnessed having travelled round different geo-political zones in Nigeria under Obasanjo and Jonathan's government, I can testify that there was far more infrastructural projects going on during Jonathan's administration than Obasanjo's administration. For the first time in decades, we had a functional modern railway system working in this country under Jonathan. Various power stations were being constructed towards the end of his first tenure. Fertilizer corruption was completely eliminated for the first time in Nigeria's history, and even farmers in the north agreed that they now could easily access the government fertilizer that was formerly being sold to them at an extortionate rate.

9 Federal universities set up in his tenure.

Oga, when Jonathan was president, things were working relatively ok in Nigeria and we had more respect internationally, even as Nigeria's economy overtook that of South Africa. but now Buhari has reversed most of the positive changes we experienced under Jona.

At least when Jonathan was president, even though there was corruption in Nigeria as there has always been since independence, we could still see some measure of progress, and we could see on-going projects around to know that this is where our money is going into even if some government officials are siphoning money through many of those projects. But in Buhari's case, he claims to be fighting corruption, yet we can't see projects he has initiated since he took over government. at the same time, his inner cacus members are the most corrupt and nepotistic Nigeria has ever known. Do you want to talk about Abba Kyari, Mamman Daura, Babachir Lawal, Bola Tinubu or who? These are faces of corruption that Buhari dines with, and you tell me Buhari is fighting corruption?

When Buhari was head of state from 1983-1985, this same economic hardship and inflation/scarcity was what characterized his regime until IBB overthrew him. I was so dazed when i was told by an elderly man in his 70s while we were discussing politics some months ago that under Buhari's first regime, things got so hard that the government was rationing essentials like ordinary omo detergeant! He told me how they used to queue up to buy tickets that they would use to collect their allocation of omo for the week, and those who had connections would use it to collect multiple times and be selling in the black market to make money. ordinary omo! And this happened in this country under one man causing the present hardship-Buhari! Have you heard what the bible said that there is nothing new under the sun? Yes! the same thing Buhari did 34years ago is what he is repeating today.

When people fail to open their eyes and study facts about history and what is happening around them instead of Watching and listening to APC propaganda news, they end us destroying their country the more and shouting SAI BABA!

https://www.nairaland.com/1985177/external-reserve-debt-under-obasanjo

odizeey:
do I need to go to space to see how it looks like? Use your sense na.

deji17:


Reno Omockery has his fan base, which are mainly mischievous, gullible and the economic illiterate.

Oblang:


Go to the north and see rice farms if e dey confuse u....

Oblang:


Go to the north and see rice farms if e dey confuse u....

36STATES:


Nigeria is not the only country with oil based economy. No other country's currency lost value like Naira in such a short period . It is down to the dullard's stupidity and not fall in the price of crude. All what you wrote there is nonsense because booohari increased fuels price and still pays subsidy on top and still there is scarcity. Can anyone beat such incompetence?

Things got really bad when oil prices started to plunge in 2014. Venezuela has the world's largest oil reserves, but the problem is that oil is the only game in town. It makes up over 95% of Venezuela's revenue from its exports. If it doesn't sell oil, the country doesn't have money to spend
- http://money.cnn.com/2016/10/25/news/economy/venezuela-breaking-point/index.html

Saudi Arabia's economy has shrunk in the first two quarters this year as the OPEC kingpin continues to struggle to cope with low crude prices and painful reforms, according to official figures.

General Authority for Statistics figures show that Saudi Arabia’s gross domestic product (GDP) shrank by 2.3 percent in this year's second quarter compared with the first three months of 2017, mainly over low oil prices and less production.

Saudi Arabia's GDP in the first quarter contracted by 3.7 percent compared with the last quarter of 2016.

Saudi Arabia, the world's top oil exporter and the largest economy in the Middle East, has taken a series of austerity measures since oil prices collapsed in mid-2014.

Until 2014, oil income made up more than 90 percent of public revenues.
- https://www.google.com.ng/amp/s/www.alaraby.co.uk/english/amp/news/2017/10/1/saudi-economy-shrinks-in-the-first-half-of-2017

President Vladimir Putin has used his end of year news conference to blame the oil price collapse and Western sanctions for Russia's financial crisis.
http://money.cnn.com/2014/12/18/news/economy/russia-economy-10-things/index.html

wirinet:
It is annoying when supposedly educated men talk like vulcanisers. Is reno saying he did not offer or pass economics 101 in school?

Is renowned omokri saying he has not heard of such terms like inflation rate, revenue profile, population rate, exchange rate, etc?

What was the revenue profile of Nigeria during president Jonathan's time and what is the revenue profile now? How did the CBN keep the naira down during Jonathan's period? It is by auctioning dollars twice every week. Now where is the Buhari administration going to get the dollars to keep the naira low now? Reno and his supporters can help by exporting something and earning dollars. It will help in meeting some dollar demand by dollar hungry Nigerians.

Nigeria has an average inflation rate of 12% - 14%, if Reno does not understand what this means, I will explain. It means prices of goods and services are expecting to increase an average of 12 - 15% every year. This means prices of all goods including rice is expected to double every 7 to 8 years.

If we were to follow Reno 's logic, then Abacha was a superstar compared to Jonathan. During Abacha's period petrol was N11 per litre, dollar was about N30 per dollar and rice was less than N500 per bag.

I am not saying Buhari is performing well, but Reno and his party should learn to criticise intellectually instead of talking like garage touts.

obailala:
Reno knows very well that a majority of Nigerians are no better than unenlightened garage touts; even well educated Nigerians aren't left out and are just glorified illiiterates. Reno understands the capacity of his audience, that's why he comfortably dishes out these kind of analysis day by day.

CSTR1002:

Oga, there is nothing more illiterate than supporting buhari.

Mynd44:
Rice was 8,000 at what price? No job was created for local farmers and you were using FOREX you didnt have to make countries like Thailand richer.

With more rice farmers growing the product and more mills, the price can only come down but the money stays in Nigeria and create Nigerian jobs.

Reno and his silly nuggets

DonBenny77:
2 indomie and one egg was 90naira

phineas:
You all need to stop hailing Jonathan as an economic hero,

it is irritating and annoying.
He drained our excess crude account by about 90%,
drained external reserves by about 50%
Re-incurred debts that had been cleared by his predecessor

While oil sold at an all time high of 100 dollars per barrel

If his predecessors had done the same with 30-40 dollars per barrel how would Jonathan have managed the country?
To build the Nation he should have consolidated on the gains of his predecessors (Rome was not buildt in a day).Today our reserves are growing again,our excess crude account too despite the low prices of oil,and the boys of the delta ensuring we produced at less than 50% capacity when this Government took over.So reduce whatever we were earning per barrel by half,thats the true picture.

So to Reno omokri I say "Imported rice may have been 8000,but it was at the cost of the future of Nigeria".
Its like those chiefs of old that sold 700 slaves ;not for ideas or inventions to build their society, they sold them for a mirror and empty bottles. In terms of economics,thats the reasoning and position of you and your hero.

Mynd44:
Rice was 8,000 at what price? No job was created for local farmers and you were using FOREX you didnt have to make countries like Thailand richer.

With more rice farmers growing the product and more mills, the price can only come down but the money stays in Nigeria and create Nigerian jobs.

Reno and his silly nuggets

obailala:
My point has been made... And if any is literate, they would have known that the statement I made had nothing to do with supporting anyone.

Mynd44:

You might want to ask what Lake rice is.

There a whole lot of local brands out there

Kennydoc:


Abeg shut it!
The Agric (rice) revolution was started by Akinwumi Adesina. Buhari's government simply continued from where Adesina stopped.
Tell me any project Buhari initiated and completed or you shut up!

Teacher1776:

Mynd44, i be dey think say you get sense before.
What is the benefit of this the "money stays in Nigeria" as you claimed?
Minimum wage of 18k was 120 USD. Now that same figure is less than 50 USD. To be frank, is it not glaring that this your so called politically correct economics policy which "keeps the money in Nigeria" is grossly improverishing the common man? You are all educated young men. Stop allowing these careless leaders to use your brains to achieve their selfish goals.

CSTR1002:

You overestimate buhari and audu ogbeh.

That adeshina led agriculture reforms have grinded to a halt.

There is nothing going on right now.

Mynd44:

We are not where we want to be in rice production but we are making progress in that line. Look at Kebbi state, Anambra State and Sokoto state where rice cultivation has been optimized. The jobs created, the wealth distributed, the FOREX we are saving.

The economy will be better for it. If you want to crash the price of cars today, simply open your borders, remove duties and watch the price fall but what happens to people like Innoson? Prices of commodies can be cheap but it does the economy no good

madridguy:
[s][/s]

Mynd44:
Rice was 8,000 at what price? No job was created for local farmers and you were using FOREX you didnt have to make countries like Thailand richer.

With more rice farmers growing the product and more mills, the price can only come down but the money stays in Nigeria and create Nigerian jobs.

Reno and his silly nuggets

AlPeter:
wow, please enlighten us. I would love to know them.

otuekong1:
Your Zombeism Is Incurable,for The Records Rice Re Evolution Started From Jonathan Through Akinwunmi Adeshina,fertilizers Was Given To Farmers Directly Free Of Charge,so Was Pesticides And Seedlings Supplied,grow Up

obailala:
My point has been made... And if any is literate, they would have known that the statement I made had nothing to do with supporting anyone.

Mynd44:
Rice was 8,000 at what price? No job was created for local farmers and you were using FOREX you didnt have to make countries like Thailand richer.

With more rice farmers growing the product and more mills, the price can only come down but the money stays in Nigeria and create Nigerian jobs.

Reno and his silly nuggets

otuekong1:
Your Zombeism Is Incurable,for The Records Rice Re Evolution Started From Jonathan Through Akinwunmi Adeshina,fertilizers Was Given To Farmers Directly Free Of Charge,so Was Pesticides And Seedlings Supplied,grow Up