Opinion: How Jonathan failed to save during oil boom

President Muhammadu Buhari

Nigerians have continued to criticise President Muhammadu Buhari on the way he has handled the economy since he came to power with the naira spiralling down. Simon Kolawole who is considered the biggest critic of President Buhari however identifies the fact that Goodluck Jonathan paved the way for Nigeria’s current situation by failing to save during the oil boom period. Times are hard If you were a lover of reggae music in the 1970s, you would certainly know “Time Hard”, a hit song by The Pioneers, the Jamaican three-man band. “Everyday,” they sang, sonorously, “things are getting worse.” That song was released in 1972. At the time, Nigeria was producing two million barrels of crude oil per day and selling at an average price of $1.8 per barrel. We were not yet oil-dependent, so the revenue was basically a bonus. By 1974, oil was selling for $11, six times the 1972 price, and our stomach ballooned. We became helplessly hooked on petrodollars. The only song Nigerians could be singing was: “Things are getting better.” The Pioneers would not sell.

Nnamdi Kanu says the quest for Biafra is God's decision

Nnamdi Kanu

Embattled Radion Biafra leader, Nnamdi Kanu has spoke from his prison custody on Monday,July 25, claiming that it was not his choice to stir the agitation for Biafra, but a call made by God.

Crisis For Jonathan As EFCC Receives First Petition Against Him

Following the alleged mismanagement of $2.1billion released to the Office of the National Security Adviser (ONSA) for arms purchase, The Economic and Financial Crimes Commission (EFCC) has received a very first petition seeking the prosecution of former president Goodluck Jonathan

DSS Arrests Jones Abiri, Implicated As A Militant

Jones Abiri 

The Department of State Service (DSS) has announced the arrest of one Jones Abiri on the grounds that he is an alleged member of a militant group.

#DasukiGate : Iyiola Omisore Finally Confesses

Senator Iyiola Omisore

Senator Iyiola Omisore has finally opened up to the Economic and Financial Crimes Commission (EFCC) about his role in the arms deal procurement scandal.

Murdered RCCG Deaconess To Be Laid To Rest Today

Tiwa Savage Celebrates Son’s Birthday with Moving Message

Mavin Records’ first lady, Tiwa Savage celebrated the birthday of her only son Jamil yesterday.