President Buhari says despite the oil boom a few years ago, the past administration failed to save for the rainy day. According to The Nation, President Buhari said this while speaking at the opening of the 12th All Nigeria Editors’ Conference (ANEC) 2016 in Rivers state yesterday August 4th. He was represented by the Minister of Information and Culture, Lai Mohammed.
"Nigeria has nothing to rely on to cushion the effects of the lost earnings. Many other oil producing countries and fellow Organisation of Petroleum Exporting Countries (OPEC) members are faring better, because they saved for the rainy day. Saudi Arabia, with about one fifth of Nigeria’s population, has in foreign reserves about $600 billion, which is 23 times what Nigeria has in foreign reserves. United Arab Emirates, with less than 10 million people, has $75 billion in foreign reserves. Qatar, with 2.4 million people, has $36 billion in foreign reserves. Even Angola, with just 24 million people, has about $25 billion dollars in foreign reserves. Here in Nigeria, with oil selling consistently for over $100 a barrel for many years, we simply failed to save for the rainy day, with the result that a country with a population of over 170 million today has just $26 billion in foreign reserves. To compound this, the fall in the price of crude oil is having a ripple effect: the scarcity of forex, which has resulted from the oil price crash, means that industries are struggling to get forex to import raw materials and machinery. With falling imports, the Customs Service, which is another source of revenue, is collecting less duties. Taxation is also affected, as industries with no forex to import can neither employ more people nor produce more goods. Then, Nigeria has had to fight an existential battle to root out Boko Haram in the Northeast”he said
104 comments:
Preach it Mr president, preach! Who get ear make em hear!
¤www.bonitabislam.com¤
~glo rule your world~ cos I do•
Its a lie..make una leav dat innocent man alone..why don't u tel us u aint compitent enough
enough of this talk, pls
-D great anonymous now as Vivian Reginalds
THUNDER FIRE YOU THERE ANRICHRIST BUHARI. Up to today you still blame past government. When you and GEJ met 2 days ago why didn't you say this to his front you bloody hypocrite. Keep blaming past government on your downfall. Even your fellow brother Abdeslam ABUBAKAR that took over the most corrupt president the whole world has ever had ABACHA, he didn't come out blaming past administration..even your fellow hypocritical best friend OBASANJO that took over Abdusalam in 1999..he didn't come out to blame past administration every single time. But because of the hate you have for GEJ, PDP and his past administration you will never stop painting his administration useless.
You have mouth to talk stupid about another's administration but if FFK or FAYOSE come out to address your disastrous administration it's either you find cloth to put for their mouth so they won't talk again or you'll pursue them with EFCC like lion wey wan catch prey. STUPID AND CLUELESS MAN IS WHAT YOU ARE BUHARI
This old bitch should stop blaming Jonathan and do his damn job!! World most dumbest and clueless President! He's a curse to NIGERIA!!
THUNDER FIRE YOU THERE ANRICHRIST BUHARI. Up to today you still blame past government. When you and GEJ met 2 days ago why didn't you say this to his front you bloody hypocrite. Keep blaming past government on your downfall. Even your fellow brother Abdeslam ABUBAKAR that took over the most corrupt president the whole world has ever had ABACHA, he didn't come out blaming past administration..even your fellow hypocritical best friend OBASANJO that took over Abdusalam in 1999..he didn't come out to blame past administration every single time. But because of the hate you have for GEJ, PDP and his past administration you will never stop painting his administration useless.
You have mouth to talk stupid about another's administration but if FFK or FAYOSE come out to address your disastrous administration it's either you find cloth to put for their mouth so they won't talk again or you'll pursue them with EFCC like lion wey wan catch prey. STUPID AND CLUELESS MAN IS WHAT YOU ARE BUHARI
What a failed APC President. Please, enough of the blames.. You knew before you came into power with your vain promises.
Shut the fuck up and face your government..we are tired of hearing Jonathan as an excuse. Clueless to the core.
Baba was this what you were voted into power to do? To keep complaining and blaming Jonathan for all your incompetence? I thought you and your party promised Nigerians Change and solutions to our problems? Baba I'm disappointed
Na me talk am!
Long Live Lib!!!
stupid people keep blaming GEJ,clueless govt
But your wify is carrying 40m handbag dumbass!!
Shame
who the heck is this?
So these incompetent clues men are still in ASO ROCK huh?FREEBORN WEPT.
I keep weeping when ever i remember that terrorist buhari who didn't have waec certificate is still the president an those bastards speaking against Jonathan are keeping quiet.
JONATHAN FAILED TO SAVE IN THE RAINY DAYS HUH? MR MAN WHAT HAVE U SAVE IN THIS RAINY DAYS? WHAT HAVE U DONE IF NOT TO DESTROYED THE ECONOMY THAT JONATHAN SAVE,GIVE MUSLIMS AND UR KINSMEN FULANI IMMUNITY TO KILL AN NOTING WILL HAPPEN.GOV AND HIDE UR FACE IN SHAME U AND LIAR MOHAMMADU.
TERRORIST BUHARI IS THE HIGHEST MISTAKE IN THE HISTORY OF NIGERIA THAT'S WHY GODS CURSE IN NIGERIA WILL NOT BE BROKEN UNTIL NIGERIA IS DIVEDED
#sad indeed
Shame
who the heck is this?
So these incompetent clues men are still in ASO ROCK huh?FREEBORN WEPT.
I keep weeping when ever i remember that terrorist buhari who didn't have waec certificate is still the president an those bastards speaking against Jonathan are keeping quiet.
JONATHAN FAILED TO SAVE IN THE RAINY DAYS HUH? MR MAN WHAT HAVE U SAVE IN THIS RAINY DAYS? WHAT HAVE U DONE IF NOT TO DESTROYED THE ECONOMY THAT JONATHAN SAVE,GIVE MUSLIMS AND UR KINSMEN FULANI IMMUNITY TO KILL AN NOTING WILL HAPPEN.GOV AND HIDE UR FACE IN SHAME U AND LIAR MOHAMMADU.
TERRORIST BUHARI IS THE HIGHEST MISTAKE IN THE HISTORY OF NIGERIA THAT'S WHY GODS CURSE IN NIGERIA WILL NOT BE BROKEN UNTIL NIGERIA IS DIVEDED
#sad indeed
Cowards are known for shifting blames,rather than shouldering their responsibilities,they either chase mirage or hang on to the past ,and keep blaming others for their failures.Buhariaonodu,you're a total failure,you ruined what was left of this country,and it's really sad! #50ShadesofEvil
Just for Wike to come second I don't believe this poll. A man that has refused to pay students on scholarship for two years now but instead will award a contract to rehabilitate a short road with few potholes for 10 billion naira.
This poll needs to be investigated.
U have been there for more than a year have u increase it which one have u saved. People are hungery u are speaking grammar. Please do the needful and leave Jonathan alone.
This idoits should stop blaming Gej
Idiot ask Amechi, Fashionable and Oshiomole why they went to court to stop the then government of saving or are you ignorant irritrate?
Come to think of it did you not inherited well over $30 billion and you have squandered it to how much you stated.
The truth is you lack pure economic principles and management. The only thing your good at is Northern and Islamic agendas. May God never give us a clueless assume hole like you again!
stop blaming the past administration for your wrong doing. now that you are in power do something and stop nagging
This idiots should stop blaming Gej and give us solutions , who cares who caused what does that solve any problem. Mcheeeeee
It's no longer news that Jonathan and his cohorts ate away the future of our country.
It's no longer news that Jonathan and his cohorts ate away the future of our country.
LET'S SEE WHAT YOU YOURSELF SAVES THEN..... TOURIST!
AUNTY LINDA 👩
Clown #soullessmonster
I remember when governors ganged up against Jonathan for daring to save rather than share the money as usual. Ask dem governors what they did with all that money.
*************************ooooooooooooooooooooooommmmmm !!!!!!!!! #SleepsOff#
Clown #AntichristBuhaha
Make I kukuma kip quiet oooh
U dey missyarn ...in Charly boy's voice. Go and ask OBJ how far during his own administration
Eva Da Diva...
Just admit that ur Govt has nothing to offer and stop blaming the previous govt,
Anybody that calls that name Jonathan for any blemish reason will receive fire and brimstone from heaven just like Sodom and Gomorrah.
pmb ask GEJ instead of complaining of apc incompetenc
a.k.a EDWIN CHINEDU AZUBUKO said...
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Ok we have heard....
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***CURRENTLY IN JUPITER***
And the blame game continues. SMH. APC won't even admit that they have failed Nigerians!
No successive Nigerian government had saved for the rainy day either.
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Buhari ur attitude towards our economy is just a systoms dat u will soon die
Leave jonathan alone n do smtin,it's already upto a year....what are we saying sef.......#walksoutofthread
Mtecwwwwww
Na wa for this government oooo. Every day we wake up to the same excuse with no way forward. But then again, I guess Amaechi should tell them how as governor then, they insisted that the excess crude fund be shared among states rather than save as advised by the then brilliant Finance Minister Okonjo Iweala. Mteewwww
Make una leave Oga Jonathan alone n fix d economy. Shuoo
#Somebody must to love me tonyt!!!
GEJ did not save because of too much pressure from your so called apc governors who refuse on that stand. Is over one year now and your still putting blames on Jonathan means apc has no clear vision to lead. Obasanjo took over power from millitary regime and did not put any blame on the past head of states but worked hard to achieve many things nigerians are still enjoying today. Is now obvious to the world that President Buhari did not prepared himself for leadership and should resign as other world leaders are doing
That's true shaa and d rainy day is here. Am with my umbrella already. Lmao. Smile to the bank dis weekend.. get your outstanding soccer prediction tips for Saturday & Sunday, 6th & 7th August, 2016. Visit www.fortunatusblog.com
This is glaring, but let the ruling government take actions and create institution that will move this country forward.
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This government is still blaming the past govt. Chai isokay
And you guys are doing same by neither reducing your operational/admin costs nor saving... I have supported PMB's Government but I disagree with Hajj Pilgrimage subsidy or any religious subsidy. This is corruption as the Dollars will end up in the wrong hands and they will sell it back to the Masses at NGN 400.00 per US$1 or even NGN450 by October.
"Jonathan failed to save for the raining day" -Buhari. It's also Jonathan that is subsidizing Hajj. Mchewww
Government of blame game! Nonsense!!!!
GEJ is having fun somewhere, Oga president pls do you job or get your ass out from that seat please.
We have heard this times without number, deal with it, or honourably resign.
President Buhari will be given an award by Guinness soon been the most stupid, clueless and valueless president on earth
Monsense blame talk every day
Continue to chase shadow Buhari and continue to blame Jonathan. You think an hungry man cares about rainy days? What they want is food. If you, Buhari has a little common sense, you told Nigerians that you recovered millions in loot from some corrupt politicians, why not do a stop gap measure and use the money to import massive amounts of food so that your country men and women wont starve to death. A hungry man dont care about fighting corruption.
So this fools are not tired of this blaming Game. enough of this Nonsense and face reality, see they are subsidizing Forex for Muslims going to Haji but they can't do it for Students , traders to support them to grow the Economy, even sick people, after one will come and say one Nigeria,
On the one hand Jonathan did not save for the rainy day (and you can ask your chief campaign contributor Mr. Rotimi-I am as arrogant as they come-Amaechi, why). On the other hand, every word, every action you take, cements your status as an unadulterated, unapologetic ethnic and religious bigot stuck in an 80's time warp, and frankly, that can do more damage than not saving.
Yea, we know dat. Linda take note!
Clap for d illiterate novice
U after a year what have u done,than cause hardship, shameless man, what happened to Abacha awaits u
Ignoramus!...continue being deceived by these incompetent evil bunch
True talk he couldn't have said it any better, Gej is a disaster nd the worst dat has ever happened
I am not a native...but this president sure is a curse to this country...appalling!
U ar naturally stupid
Woe betide u if I should ever set my eyes on you
We bliv u sir
Gej is an ineffectual buffoon
We bliv u sir
Gej is an ineffectual buffoon
stupid clueless fish brain president
his wife evn but d handbag frm d money oh,shege ibilis
Nonsense talk,. Where is Amaechi? Was he not.among d leading governors then that sued federal government over some monies reserved in federation account? ur citizens are not stupid. Clueless and senseless regime.
You should be ashamed of yourself because you simply have no brains at all.Jonathan was dumb. He allowed his politicians to simply share whatever revenues that came in amongst themselves. But, you are too dumb to note what happened under Mr. Jonathan. Instead, you are expecting a diabolical miracle in which Mr. would turn River Niger into a pool of money.
Until the end of ur tenure, u will still continue to blame past Administration. Clueless government. Awon oloshi
Mr President do what you have to do. Drown out the voices of nigerians that try to jeopardize this govt with unfounded statements.
People will always talk. Its d same people that also talked during Jonathan's regime. Forget them and work.
#BuharihaskillNigerians
U ar a preacher of Allah.
Couple of years ago in the then GEJ's administration, several billions of $ was saved in our foreign reserve but what happened? Nigeria Governors' forum headed by Chibuike Amechi dragged FG to curt insisting the money should be shared. How dare this tyrant call on GEJ for his failure?
Allah must never make a mistake of forgetting to over punish them till their 10th generation to come
Aisha buhari's hand bag is worth over #40,000,000. It's a pity
ABEG ABEG ABEG THIS STORY CAN'T CONTINUE THIS LIE IS BEEN FLOGGED FOR TOO LONG!!!!! YOU HAVE RECOVERED "STOLE LOOTS" YOU HAVE SOLD OIL FOR ONE YEAR NOW YOU ARE STILL CRYING JONATHAN!!! JONATHAN!!!!! YOU GUYS SHOULD GET ANOTHER PROPAGANDA LINE WE NIGERIANS ARE NOT TOO DUMB TO READ BETWEEN THE LINES. SO SO POLICY TUMBLE WE GET EVERY TIME. TODAY IS DOLLAR FOR PILGRIMS!!! AM SURE TOMORROW IT WOULD BE AID FOR FULANI CATTLEMEN!!!! THATS WHAT THE SO CALLED APCCHANGE AGENDA IS ALL ABOUT #WASTEDVOTE!!!!!!!!!
International olodo....diveded kor
The dumb army general from DAURA my God who even made u a general let's face fact Buhari is the highest incompetent person in nigeria to be sincere we have wasted 4years of our time with dis guess work man
You are der blaming gej nd ur wife is using more Dan a million niAra handbag, I heard gej handed over 30 billion nAira, where as obj Dat time hnded 3 billion nAira. Oga, do ur work.
Imagine. ...this man is just shameless. I blame those that voted him to power.
I can never be anonymous Buhari has been slated to destroy this country before his demise.He is never good in school,i tot he will do better I never supported this guy from on set.
Are we still at dis again?
I hate talking about this clueless government. It was a mistake voting for APC. From biggest economy in Africa to the worst economy within 14 months yet no direction no program but just to blame GEJ. Rather unfortunate!!!
Coward! That's what you are mallam buhari. Looking for blames here and there! Jonathan didn't sit at a place to blame obasanjo, he managed the little resources to make housas happy by constructing roads in the north. God will continue to bless Jonathan. Now mallam, please save for the rainy day or resign. Aso rock is not your father's yam barn. Haven't you taken what you forgot in aso rock that made you want to kill all Nigerians????? Ihe mere abacha ga eme gi soonest.
Hear oh another animal talk. In fela song
Foolish administration.Yes that's what ur govt is.What have u done so far? Ur family and party members re sharing d money and what re u fighting?
Kwaruption!!!!!!!!!
Gej, Gej all the time. What of the other past presid 6ents like the one always visting him. Did he save for the rainy day. Pls do the needful jare.
While I think u have being saying this for over 400days ago...
If u think the past president have serious wounded this nation beyond what you could amend or change as what brought to power, sir you can honourably resign sir..
President of Escuses....... tired of hearing whose fault it is ..... pathetic! Only a bad workman blames his tools!
This clueless daura cow is still blaming GEJ?
Baba enough of ur empty blames and move the country forward, uv been on it for the past one year yet things keep getting worse . Ur blames can not take us anywhere,perform ur magic Baba. Lol
Buhari is so weak godamn! Jonathan is gone mehn you gotta be able to make a 'change' with the little resources you have! Quit the blame game and do what you can do ASAP.. Ain't nobody voting you or APC come next election!
You are just biafra, Igbo and Nigeria knows all of you (Igbo's) have problem with buhari and APC in general...
You are just biafra, Igbo and Nigeria knows all of you (Igbo's) have problem with buhari and APC in general...
Is this not pathetic, that after a year in office, Buhari is still blaming GEJ.....Infact, am ashamed for this visionless government
It's a lai, why not ask your hand bags fashola and Adams why they took Jonathan and Ngozi to court for saving excess crude account, but you want him to save so that you and your family will be squandering the money? Your wife bought a new travling bags that what over N40m. Nigerians voted for you so that you can save money, campaign time is over old bunch of fool.
It's a lai, why not ask your hand bags fashola and Adams why they took Jonathan and Ngozi to court for saving excess crude account, but you want him to save so that you and your family will be squandering the money? Your wife bought a new travling bags that what over N40m. Nigerians voted for you so that you can save money, campaign time is over old bunch of fool.
I can see that there is one fake anonymous on this blog who supports everything buhari in multiple comments. Shei them dey pay you well sha. Idiat!
Shei na una vote am. U people wee all see sumtn. Wa wa wa everday you people are complaining. When we were warning you all una no listen.
Idi-Amin is clueless .
All Jonathan's administration did was looting. Useless idiots
BUHARI STILL DOES NOT GET IT, EVEN IF OIL PRICE INCREASE TO 100 DOLLARS PER BARREL TODAY.....BUHARI CANNOT LEGITIMATELY SAVE THE EXCESS CASH!
TAKE A LOOK THE LAWS!!!
IF THE LAWS WERE GREAT, AMAECHI AND HIS GANG OF THIEVES WONT HAVE BEEN ABLE TO STOP GEJ.
AGAIN WE WERE SELLING CRUDE OIL AT HIGH PRICES BUT WERE ALSO BUYING REFINED PRODUCTS AT PROPORTIONAL HIGH PRICES. BUHARI, WHAT IS YOUR PLAN FOR OUR REFINERIES?
BUHARI, HOW COME NIGERIA IS ALL OF A SUDDENLY NOT CREDIT WORTHY? HOW COME THE INTERNATIONAL FINANCIAL COMMUNITY CONSIDERS YOU "NO GO AREA"?
Rubbish, he should tell that to his Minister of Transport who refused (seeing the government) and made the former president to share the excess crude account to states
Failures will always find who to blame miriam4job@yahoo.com
Nigeria has nothing to rely on to cushion the effects of lost earning , yet money in hand is been squareded on individually religious fanatics' such food for Muslims during fast from tax payer money and worst still subsidizing dollar not for business or econo,ics growth bu t for haji and there is sacristy. Of forex too. Is,t that just incredibly fanatastic?
COs they are starching away the moneys. For their jihad war and for feeding muslins during their fake fasting and pay all Muslims. As the the uneducated poor and finally to subsidize Islamic haji trip that has no bearing or direction on the economy
Dis is all nonsense, dis goveernment has acquired more than we can imagine. What about d #50.00 stamp duty collected on every transaction from millions of ppl evetyday.who gives acct of that, ch of liars and cowards seeking whom to blem. A shame
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