Recent facts show that transport
minister, Chibuike Amaechi was wrong about Nigeria’s electricity
generation reaching 7,000mw under President Buhari, and that’s a lie,
Now Read the rest of the lies below, 6 and 8 will shock you…
Analysis shows that recession did not
start under Jonathan because there was only growth from 2010 to 2015,
when he was in power.
According to IMF, World Bank and other economic bodies, it is impossible to hide a recession
Transport minister, Chibuike Amaechi’s
‘facts’ about the state of Nigeria’s economy under former president,
Goodluck Jonathan and his successor, President Muhammadu Buhari have
been proved as false.
According to analysis by TheCable,
Amaechi’s claim that the current recession started under Jonathan but
was hidden away from Nigerians was not true. Also untrue was his claim
that the country produced 7,000mw of electricity under the Buhari
administration within one year before the activities of Niger Delta
militants.
“Don’t forget that until these so-called
Avengers began to bomb, we had got to 7,000 megawatts, and what he
promised was ten at the end of the first term,” Amaechi had said. “By
the time the avengers, or whatever they call them started bombing, the
minister of power, had driven the thing to 7,000 megawatts.
Unfortunately, they began to hit the gas
facilities, so what would you do?” TheCable quoted Amaechi as saying
after the launch of the Kaduna-Abuja railway line last week. But
analysis showed that Nigeria has never, in its 55-year history,
generated that much amount of power.
According to the federal ministry of
power, the highest level of power generation in the country, in the
space of over half a century, was recorded on February 2, 2016, when the
country generated 5,074 MW which falls 1,926 MW short of Amaechi’s
claim.
This data was confirmed by minister of
power, works and housing, Babatunde Fashola in a speech at The Royal
Institute of International Affairs, Chatham House on August 1, when he
said power generation for Nigeria peaked at around 5,000MW for 2016.
Also, Amaechi’s claim of recession
starting under Jonathan was just as false as statistics put forward by
TheCable showed. “If you remember as governor, I said we’re broke.
The minister for finance (Ngozi
Okonjo-Iweala) came to my office in Abuja here and pleaded with me that I
shouldn’t say it again. “So I knew as chairman of governors’ forum,
that we had gone into recession under Goodluck (Jonathan),” TheCable
quoted Amaechi as saying.
Analysis proves this to be untrue.
According to Central Bank of Nigeria data, there was never a single
quarter of negative GDP growth from May 5, 2010 to May 29, 2015, when
Goodluck Jonathan was president.
The data shows that no “two consecutive
quarters of decline (negative growth) in the country’s real (inflation
adjusted) gross domestic product (GDP)” which is what the International
Monetary Fund (IMF), CNNMoney and New York Times among other leading
economic bodies agree easily identifies a recession.
It was also untrue that the recession
was covered up because it is impossible to hid a recession because it is
widespread and seen in every aspect of the society. Quoting the
National Bureau of Economic Research (NBER), a private research
organisation, TheCable reports that a recession cannot be covered up.
The NBER’s Business Cycle Dating
Committee defines a recession as “a significant decline in economic
activity spread across the economy, lasting more than a few months,
normally visible in production, employment, real income, and other
indicators”.
Contrary to Amaechi’s claim, the
opendata project of the World Bank and the National Bureau of Statistics
(NBS) showed that Nigeria experienced annual economic growth ranging
from 7.8 percent in 2010 to 2.7 percent in 2015.
Recall that Amaechi recently claimed
that former minister, Ngozi Okonjo-Iweala begged him not to tell the
world that Nigeria was broke during the administration of former
president, Jonathan.
Culled from www.naij.com
Culled from www.naij.com
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