An Open Apology Letter To Muhammadu Buhari GCFR, President And Commander-In-Chief Of The Armed Forces, Federal Republic Of Nigeria."I have been enlightened greatly by these facts as stated below by Don Kmanera."
BY - Don Kmanero.
Kindly and patiently look through the talking points, see if OBJ's issues are facts or sentiments. I think PMB should be judged by the numbers & not emotions ...
Oil price $110 per barrel average
Stable oil production at 2.4 million barrels per day in the period under review:-
2010-$70 billion
2011-$99 billion
2012-$94 billion
2013-$84 billion
2014-$77 billion
2015-$21 billion(January-May)
Source: OPEC Revenue Fact Sheet and Energy Information Administration (EIA), a statistical arm of the US Department of Energy.
Outcomes in 5 YEARS:
a) External reserves declined from $47 billion in 2013 to $29 billion in 2015;
c) Federal Government borrowed $2 billion to pay salaries.
d) 24 States of the federation bankrupt -could not pay salaries of workers, could not repay debts and other contractual obligations.
f) accumulated contractors debt such that all major construction works stopped.
g) NNPC technically bankrupt.
i) Nigeria's Credit Rating downgraded
j) Massive capital flight: industries relocating to neighbouring West African countries.
Oil price $45 per barrel average
Loss of 1.2 million barrels per day due to disruption by the Niger Delta Avengers
2015-$16 billion (June-December)
2016-$26 billion
2017-$10 billion (January-April)
Total-$52 billion
a) External reserves boosted to $31.22 billion from $29 billion in 2015;
b) Savings increased to $2.29 billion from $2 billion in 2015.
c) Federal Government stopped borrowing to pay salaries.
e) Settled fully accumulated arrears of workers salaries and pensions, running into billions of Naira.
g) settled fully oil importers claims amounting to $400 million.
h) NNPC restructured.
i)Foreign Direct Investment (FDI) steadily picking up.
k) Looted funds recovered running into trillion Naira mark
l) TSA the plugged loopholes of waste and swindle of public funds, now N4 trillion.
a) Those looking for a magic wand, here it is. Using $52 billion or 12% in TWO years to achieve what could not be achieved with $445 billion in FIVE years.
Think Deeply....