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Politics / Re: Owners Of 10 Power Plants Emerge by hercules07: 10:27am On Mar 14
revolt: it doesn't matter. all we need is to get these civil servants out. at any cost for now.

Are you serious? Feudalism does not matter? You need the Civil servants, clamour for your leaders to lead instead of outsourcing the problems.
Politics / Re: 1025km ECOWAS HWY for $2Bil, 100km Lag-IB Hwy for $1bil 2km SNB $1bil. Why? by hercules07: 1:35am On Mar 13
Okay. I don't know about the third mainland you're talking about, because that is not part of the road when it was first built. But anyway it's 127 km.

No it is not, the total distance is roughly 100km, remember when they did the calibration, it was Lagos to Ibadan, Lagos was Isale Eko, not old toll gate.


Politics / Re: FG Moves To Privatise Roads, Sea Ports by hercules07: 1:31am On Mar 13
Such a country you described must have the income base to support such heavy social expenditure.
And by income, I mean TAX, not receipts from sales of natural resources.

The biggest mistake Nigeria as a country ever made was to think of ourselves as "rich" because of that $250m/day coming in from oil sales.
Our current national income depends on crude oil sales whose prices are set in the international market which we have no control over. If America decides to stop buying our oil (which is possible), or the price of oil drops to $30/barrel, how do we intend to keep funding such a large government without a tax base from large scale economic activity?

We cannot spend so heavily on recurrent expenditure like a developed country when truth be told we are NOT a developed country.
Oil receipts should be used to fund capital expenditure and catalyse economic growth, NOT to make everybody a civil servant.
Nigeria can NOT support such spending. The economic base simply doesn't exist.
Let them privatise these things, then TAX these private interests and then use that TAX to fund social spending.
Let our barrels of oil build ports and rails and schools for us, instead of being used to settle ASUU or give FMC doctors retroactive salary increments.

Our barrels of oil should build ports, rails and schools that should be sold to cronies abi, the problem we have is not government doing things, but government doing things in an incompetent manner, our recurrent budget is skewed by what we spend to maintain democracy not necessarily what gets to the civil servants, we also have a bloated civil service, immigrations, customs and some other agencies can be run more efficiently, Canada only has the CBSA which combines immigration with Customs why can we not do the same, we have a bloated government and we need that to be resolved. We need to build ports, rails and schools that will be run efficiently by government, Calgary transit is a government owned service run by and for Calgarians, how much do Nigerians earn that you want to privatise every thing in their lives?
The Catholic Church runs schools in Alberta, they get their funds from 50% of the tax on house purchases once you identify as a Catholic and have a kid in school, is this not a sensible thing to do as well? We need a cultural and structural change, if you like privatise from now till eternity, the attitude of Nigerians will not change until it is changed, can you mention how many Nigerian run companies have lasted 50 to 100 years.
Politics / Re: FG Moves To Privatise Roads, Sea Ports by hercules07: 9:47pm On Mar 12
It's obvious you've never left Nigeria before. In developed countries, almost everything is privatised - rails, electricity, roads etc. The US even has private PRISONS.
It's you people who have been raised to be dependent on 'goffment' that think that it is a government's job to feed you.
That is wrong.
Privatisation is exactly the way to go. Otherwise we end up with a country full of NITELs. I'm sure you remember how much fun that was.

Privatisation is not the way to go, I live in a country where the roads are not privatised, health is public, I work in a country where nothing public is privatised. American private prison is making law enforcement too aggressive and people are being sent to jail for flimsy reasons, it costs the government more to send someone to private prison.
Politics / Re: 1025km ECOWAS HWY for $2Bil, 100km Lag-IB Hwy for $1bil 2km SNB $1bil. Why? by hercules07: 10:42am On Mar 11
Pk001: Please I need example of a deep water 2km dual carriage bridge with a rail line going through it and 3 lanes on each side, that was constructed for less than a billion dollars.

What is the depth of the Niger compared to the lagoon.
Politics / Re: 1025km ECOWAS HWY for $2Bil, 100km Lag-IB Hwy for $1bil 2km SNB $1bil. Why? by hercules07: 10:41am On Mar 11
Iyegbu: The person who wrote this is an opposition propagandist. First Lagos- Ibadan is about 140km and the road was expanded to 5 lanes dual carriage from 3 lanes dual carriage. Secondly the Lagos to Abidjan is also a 5 lanes dual carriage and not six but with a light rail track in between.

Lagos Ibadan is 100Km and that is when you add the third mainland portion to it.
Politics / Re: 1025km ECOWAS HWY for $2Bil, 100km Lag-IB Hwy for $1bil 2km SNB $1bil. Why? by hercules07: 10:40am On Mar 11
1MCN: We have been meant to know that the never-to-be-completed Lekki/Epe concession-ed road costs the Lagos state govt more money than the Lagos-Ibadan expressway [even when the Lagos govt is allowing the Lekki Road to be tolled].

Is it not madness that the same Lagos-Ibadan highway that Bi-Courtney and Obasanjo [two Yoruba kins] used to play maradona with their people have become a signpost project?

A second Niger bridge to be built over water and swamp, with 6 lane and rail track attached is costing 117b and most of it is to be provided by the private company. Now, who's over quoting the bill? The govt that will bring only a smaller fraction of the cost or the private company Messrs Julius Berger that's putting in their cash.

Well, why am I worried. We all knew that many people will have nightmares over the past night because of the project that just started.

I thought the wise ones among them would have taken like 5 tablets of valium5.

No way, we have trashed that out, the Lagos-Ibadan expressway costs way more than the Epe road.
Politics / Re: Who Was The Nigeria Head Of State/president When You Were In Primary 6? by hercules07: 9:58pm On Mar 10
Babangida 1986.
Politics / Re: 1.3km Lekki Bridge For N29bn While 1.8km Second Niger Bridge For N117bn by hercules07: 3:00pm On Mar 10
See stealing, GEJ bridge at how much per km.
Politics / Re: Owners Of 10 Power Plants Emerge by hercules07: 9:56pm On Mar 09
revolt: anything as long as it's privatization. these civil servants must be driven from all our viable sectors.


Be careful of what you wish for, privatization is not the be all and end all of things, it is actually proper enforcement of regulations, else, we will slip into feudalism, by the way, how much did we spend on those power plants, seems these prices are too low.
Politics / Re: Okonjo-iweala: Nigeria Suffering From Resource Curse by hercules07: 10:40am On Mar 07

So you know this and you keep on blaming GEJ.... even the NNPC is being run like the federal Reserve if you dont know, ordinary minister like D madueke can do little esp when Nigerian constitution has legally given these thieves power

Oby Ezekwesili is one million times a minister than madam pay back all debts when your country has zero infrastructure to talk about, this woman is a curse on the nation.
Politics / Re: Okonjo-iweala: Nigeria Suffering From Resource Curse by hercules07: 1:30am On Mar 07

While I am ideologically opposed to state ownership of businesses, there is no doubt that it may appear that some countries may have achieved a semblance of success with some state owned enterprises. But if you go through a few articles in our politics section and see the unbridled ethnic hate, you will clearly see that unfortunately, this is no nation. I believe that you will agree with me that the existence of a nation should be a primary conditioned for national ownership of enterprises.

We once had a nation, we can have that nation again, it is even possible that by building credible public services, we might be united, we can not give up on nation building because some guys ethnically hate one another, what stops the Rivers, Edo, Oyo and other state governments from offering credible public services, the FG might not be able to do it but states can spear head it, power for instance is badly managed, we are privatising yet incurring heavy loans what kind of management is this. I am not for full blown capitalism, I can see what capitalists are trying to turn the USA, there is but a step from capitalism to feudalism.
Politics / Re: Okonjo-iweala: Nigeria Suffering From Resource Curse by hercules07: 12:20am On Mar 07

You mentioned that your family is currently living in Canada. Canada is also an oil producing country but I understand that a litre of gasoline retails at about $1.30. There is no subsidy. I have equally met Canadians who work in the Nigerian O&G sector.

Personally, I don't think it's wise for the country to waste scarce funds to build new refineries only to have them mis-managed like the current 4. That would mean doing the same thing over and over again and expecting different results. As long as we have a subsidy regime in place, it will be difficult to attract non-politically connected private players to refine oil locally. Additionally the inherent injustice in the distribution of oil revenues create the kind of fragile security environment that discourage these kinds of investors. I have already stated my ideal solutions to our situation but I am realistic enough to admit that it is politically impossible to achieve.

I understand that we have been told from childhood that ours is a rich country but that a few people are "chopping" all the money. Now that we are adults, it's time to realize that we are resource constrained, have many mouths to feed and we have difficult choices to make before our huge population can actually become a resource.

P.S. Saudi owned refineries may work because they are owned by the Saudi crown who has the incentive to manage them like any businessman. Who owns Nigeria? Do we have a sense of ownership for Nigeria?

You do not want me to start reeling off the benefits of living in Canada despite the high cost of fuel, is it the incentive for my kids to go to school, my wife is retraining due to grants from the Canadian government. My wife fills her tank and uses the car for a month, can you do that in Nigeria? The problem I have is we are not looking at the problems critically, the government has a role to play, why should the government not build a refinery, was it not the government that built those other ones, were they not well managed until later? The Saudi rulers do not have any incentive to build the refinery other than to create wealth for themselves and their citizens, they already have the lockdown on the Hajj and Umrah.
The alberta health system is publicly run and funded, the service I get is far better than I got from GTBank a private company in Nigeria.
Politics / Re: Oby, Disappoints APC Members In APC Summit. Live On AIT by hercules07: 11:31pm On Mar 06
I just gbadun the woman, I think it was brave of the APC to invite her, hope what she said will be taken on board.
Politics / Re: Okonjo-iweala: Nigeria Suffering From Resource Curse by hercules07: 11:23pm On Mar 06

Please, do the math and compare apples with apples. Nigeria produces about 2.3 Million barrels per day and our population is about 170 million. Saudi produces about 10.3 million barrels per day and has a population of 30 million. We have over 5 times their population about a fifth of their oil earnings, that's like they have about 25 times our per capita earnings from oil. I don't even want to get into the different socio-political systems in the two countries.

Saudi refines its oil and sells it, we import refined oil, we have been talking about fuel subsidy since the days of Obasanjo, during that time, I have worked on two refinery projects, what have we got out of the resource, have we even done the basic thing that needs to be done, how do you think we Nigerians feel when we work in Saudi and are asked why we are there when our country also has the same resource.
Politics / Re: Okonjo-iweala: Nigeria Suffering From Resource Curse by hercules07: 11:20pm On Mar 06

I know you probably live in a posh expat compound over there and may be insulated from the true state of things. The resource curse is alive and well in Saudi.

Look at this article:

Ex-pat compound kini, I see a country doing everything right for its people, I am on ground and I can see the Saudization of the country's infrastructure and economy, if the Nigerian government can do 10% of what the Saudis are doing for their people, our leaders can steal to their heart's content.

Nigeria with a population of 170 million and the resources at its disposal should be far ahead of the Saudis, population confers a lot on a natioin that has its priorities right.
Politics / Re: Okonjo-iweala: Nigeria Suffering From Resource Curse by hercules07: 10:16pm On Mar 06

I also tend to be Afrocentric. However, I believe economics is pretty universal.

Most people who argue against the resource curse paradigm normally give an example of places like Norway and Australia. If we study Norway as an example, you will discover that while Norway produces roughly the same amount of crude as Nigeria, our population is about 35 times the size of their population (at 5 million). Additionally, Norway was a coherent nationality, had established institutions and a credible industrial infrastructure before crude became important. It is interesting that Norway actually inoculated themselves against the "curse" by actually sequestering all the proceeds from oil into a sovereign wealth fund. Efforts by the currently derided NOI to set up the ECA (excess crude account) to provide a stabilizing influence have been sabotaged by our "progressive" governors ably led by Rotimi and cheered on by our local activists. Additionally, we have wasted a large part of our crude oil earnings subsiding fuel despite efforts by this same NOI to stop the waste.

Let's take a look at the economics. The oil boom of the 70's led to massive overnight increase in Dollar earnings, ensuring that our national currency became so strong that almost all local production, including agriculture became uneconomic. It made no sense, especially coupled with our hitherto poor industrial infrastructure to engage in any form of local production (one reason why some of us found Sanusi's reflexive defence of the Naira, silly), importation became very attractive. Many local producers closed shop and focused on importation. Efforts to discourage imports through punitive import tariffs simply encouraged smuggling and corruption. If you consider that the oil and gas industry in Nigeria barely employs 100 thousand people, the resulting unemployment and related poor distribution of incomes should not be too difficult to understand.

The other key impact of this phenomenon is fiscal. Oil revenue represents about 80% of public sector budgets in Nigeria. One the one hand, the industrial infrastructure for oil production is in the hands of the International Oil Companies (IOC) which meant that there was little incentive for the government to invest in other infrastructure like railways and power since these will have very little contribution to the government fiscal bottom line, on the other oil represents only about 20% of GDP which means that most Nigerians (including businesses) paid little tax and could afford to ignore blatant stealing (it's government money). Additionally, the areas impacted by oil production is home to less than 10% of the country's population, that's 90% of the country regard the oil money as magical free money. Additionally, the overnight influx of "free" oil money encouraged the establishment of all sorts of economically questionable state owned enterprises (SOE) in key sectors of the economy from telecoms, banking, oil to power. These SOE proceeded to do what similar organizations have done the world over, breed inefficiency and corruption. The Nigerian situation was made worse by our well documented poor sense of nationhood and celebrated ethnic cleavages.

The ideal thing in my opinion will be; allow the oil producing states to keep at least 50% of the proceeds from crude to inoculate the other states from the fiscal effects of the resource curse. Save at least another 25% in a SWF and allow for a gradual devaluation of the Naira to encourage local production. Privatize the NNPC and all the other SOEs. Stop the daft subsidy on fuel. However, given that 90% of the population think that oil money is magical free funds! I don't see how this will be politically realizable. The best we can do now is precisely what Ngozi is doing.

There is no resource curse, we just have cursed leaders. Saudi Arabia sells petrol for 4 naira per liter, they have a population of over 30 million the country is almost three times the size of Nigeria, has modern infrastructure, the refinery project I am working on was completed in five years, there is another one down the road, what is our excuse.
Politics / Re: Okonjo-iweala: Nigeria Suffering From Resource Curse by hercules07: 2:28pm On Mar 06

@ the bold - cor blimey!!

A capitalist arguing against capitalism, huh? shocked

I'm proud of you, bruddah!


Maybe I did not make myself clear, I am not against capitalism, I am against crony capitalism, the type that is happening in the US where CEOs pays have gone through the roof while workers pays are stagnant, NOI and GEJ have sold Nigeria to the "lowest bidder", my family is in Canada and I thank God for that country, I am sure you are aware of what the Koch brothers are trying to do in the US.
Politics / Re: Okonjo-iweala: Nigeria Suffering From Resource Curse by hercules07: 2:15pm On Mar 06
I am at present in Saudi Arabia working on a Refinery project, on the same road there is another refinery, two refineries within four years and someone is telling us about resource curse, I believe we need to chase away all these IMF and Harvard trained guys and employ local guys who know where the problems are, Buhari had local guys, even Abacha had local guys and they performed, NOI has brought the American capitalist system to Nigeria and it is killing us.
Culture / Re: Were Ajayi Crowther And Herbert Macaulay Yoruba Men? by hercules07: 2:32pm On Mar 05
This is going to bite the OP in the behind, I hope he knows that Ajayi Crowther a Yoruba man codified the Igbo language


Politics / Re: Okonjo-iweala’s Economics Of Import Waivers by hercules07: 1:07am On Mar 05

There's nothing like selective waiver. If you're a tyre producer, you can import the producing machine duty-free now. If you're a car producer, importing your machines is duty free irrespective of your status. If you mill rice, make tomato paste, the machines are duty free now.

Now go to bed and stop being a dumba$$.

You can not make your points without insults, how many of the auto sellers were given waivers, there are at least over 50 on the Ikorodu road, how many got waivers. One of the reasons Dunlop left Nigeria was because imported tyres had waivers and they were being killed by electricity and other costs.


Politics / Re: Ezekwesili To Deliver Lead Paper On APC Manifesto by hercules07: 12:58am On Mar 05
It would have been better if GEJ had appointed Ezekwesili as the Minister of finance, she has more empathy in her toes than NOI has in her whole body.


Politics / Re: Okonjo-iweala’s Economics Of Import Waivers by hercules07: 12:52am On Mar 05
rudedough: OP and the guy above me are dumber than a doughnut.

So it is your own economics that brought 6 auto industries into Nigeria?

It is your economics that changed the mind of Dunlop tyres that they are moving back to Nigeria.

It is your economics that is making Huawei mobile phone, Lenovo, Techno etc build their assembling plants in Nigeria.

...Just to mention a few. I feel like slapping you both for being honestly.

Everything is in future present tense, import waivers is nothing short of criminal, we are an importing nation and do not produce anything, granting waivers selectively is hurting the government and the people, it does not give a level playing field, how can you give import waivers to luxury goods like armoured vehicles, what kind of nonsense is that?


Politics / Re: Dangote: Boko Haram Not Nigeria’s Worst Evil by hercules07: 9:11pm On Mar 04

Please read well, he said beyond Boko Haram meaning not only Boko Haram but infrastructure is a challenge and threat.
Politics / Re: Who Released Obafemi Awolowo In 1966 From The Calabar Prison? by hercules07: 9:08pm On Mar 04

It was simply because of Gowon's temperament and personality. He wasn't prone to rash, illogical, and immature decisions unlike Ojukwu. Gowon, like all good leaders, exercised all options at diplomacy before going to war. Second, after the pogroms, Gowon needed to exercise restraint otherwise he could have been accused of pursuing an agenda of genocide. He has been proven right.

Had it been Murtala who was in charge, Ojukwu would have left for Abidjan in August 1966.

Please don't run away from those questions above.

I just dey gbadun you, it would have been better for the Igbo nation if Ojukwu had legged it to Abidjan in 1966.


Foreign Affairs / Re: Russia Warns US Could 'reduce To Zero' by hercules07: 9:06pm On Mar 04

everyone who commented before this man is just talking nonesense.

Kudos man!!!

Now let ask some perinent questions:

Is crimea an Annex of the US? Is it a state in Europe?

What relationship does the west have with Crimea? Virtually none unlike the Russians that have a large population of Russians there.

So why will the US go to war spending Billions of Dollars which they doN't have.

Mind you the US is mightily indepted to China.
The US needs the Russian Market to sustain their already weakened economy the worse since 1970 great depression.

On the other hand, their are global junior mafias waiting to feast on the US. E.g China, Iran, North korea, Saudi Arabia, we are not sure which side India may settle with. There is Brazil somewhere.

The only reasonable option is the coalition of the G7 (germany, france, italy, canada, united states, united kingdom and japan)

individually none stands a chance against Russia for NOW!
BUT united they would go a long way against Russia.

The question here is can they work together?

In the event of a war nobody knows where it might lead.

Small allai countries like south korea, ukraine, (God forbid) even Nigeria might just be the battle field.

The US alone can handle Russia, the costs will just be great, do you think those who surround Russia (Japanese and Chinese) want an imperial Russia? A nuclear war is the only non winnable war for the US.

1 Like

Foreign Affairs / Re: Russia Warns US Could 'reduce To Zero' by hercules07: 9:03pm On Mar 04
Russia is already returning its troops to the barracks, this is just some sabre rattling, Putin will not invade Ukraine and the US will not go to war because of Ukraine, the initial situation was handled badly by the west, they supported a coup and expected no response from Putin, they should have worked on diplomacy first, there is no way Putin will be happy with Ukraine in the EU and/or NATO.

On the issues of war, a non-nuclear war will see the US killing Russia, a nuclear war might just see Nigeria being a superpower.


Politics / Re: 'Budget 2014 Jam' With Dr Ngozi Okonjo-Iweala by hercules07: 7:03pm On Mar 04
A budget with 69 percent recurrent and 31% capital is a hopeless one, this country can not develop with such nonsense.
Politics / Re: Who Released Obafemi Awolowo In 1966 From The Calabar Prison? by hercules07: 5:17pm On Mar 04
Orlando Owoh and myth bursting, we have to commend the propaganda machinery of our eastern brothers, it has been very effective. Awolowo was released by Gowon and not Ojukwu, Ironsi was busy partying to even remember to release Awolowo, Ojukwu was a nonentity in this matter.
Politics / Re: Eko Power Coy Earmarks N45 Billion For Lagos Electricity Network by hercules07: 2:28pm On Mar 01
Longeria: Welcome from Gabon.

You got jokes, actually it is from Canada not Gabon.
Politics / Re: Eko Power Coy Earmarks N45 Billion For Lagos Electricity Network by hercules07: 3:16am On Mar 01
Come to think of it, power has greatly improved all over it's just a question of time before we start enjoying steady power supply.

I was in Nigeria last week, the power situation is terrible, Ilupeju and Ojodu side were in darkness, even the airport that was hyped beyond reason is still like a cage, naija has a long way to go.

1 Like

Jobs/Vacancies / Re: Top Bank CEO Blasts 26 Yrs Old Job Seeker by hercules07: 3:04am On Mar 01
To those who do not understand, the simple summary that one can deduce can be seen below.

Stay your lane

Who is your Father (Omo ta ni e) ?

I be your Mate ?

Bloody Nicompoop


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