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Stats: 1,345,942 members, 2,000,699 topics. Date: Sunday, 19 April 2015 at 10:32 AM
|Politics / Re: What Is Your Policy Advice To The Buhari Government? by Wallie(m): 2:54pm On Apr 02|
N1 to $1 parity will NEVER be possible because (1) inflation will go through the roof, and (2) the government will be unable to pay for anything within Nigeria including salaries. Think about it for a second.
This will mean the government’s income from oil sales will be reduced by divisor of 212 or whatever the current exchange is now.
For example, assume Nigeria made $1M from oil sales this month, if the exchange rate becomes N1 to $1, the govt will only make NGN1 million when they would have made NGN212 million before. How are they going to afford to fund a budget based on an income of NGN212 million with only NGN1 million?
Also, EVERYBODY will become x212 richer, which might sound great until you realize that everybody will now want to buy goods with their new found wealth and that will in turn reduce supply. When supply is low, price will go up until demand stabilizes, which will not happen until people start feeling like things are getting too expensive.
On the other hand
The government can simply rebase the Naira by lumping 2 zeroes off it. Essentially making NGN200 equal N2 but this will mean that we will never become an exporting country since our goods will be too expensive abroad.
|Politics / What Is Your Policy Advice To The Buhari Government? by Wallie(m): 2:40pm On Apr 02|
I'm resuscitating and repurposing a post of mine from a couple of years ago and retitling it.
1. Automatic 1 year jail term in a prison for hardened criminals for every $1 million stolen and also a life-term ban from politics and public office. To avoid jail, you will need to pay back 10 times the amount you're indicted of stealing. You can reduce your jail term by paying the jail term down. For example, if you return the $1m you are guilty of looting, your sentence will be reduced 1/10th of 1 year (1 month and 2 days). To avoid jail, you will need to pay $10 million as condition for your bail.
2. Breach of public duty not involving money will result in a punishment ranging from termination to a 3-month jail term. If it involves money, more time will be added to the 3-month. This is needed for public official that derelict their duty.
3. Former politicians will need to explain the source of their wealth otherwise they will forfeit what can’t be explained.
Taxes - nobody likes paying taxes but it is needed to develop the country.
4. Everybody will be issued a unique National Identity number. The number will be needed to get any service regulated by the government e.g schools, hospitals, electricity, traveling outside the country, opening a bank account, etc. The number will also be used to determine the number of people in each state.
5. Everybody over the age of 21 will have to file a tax return at the end of the year even if unemployed. The govt can keep track of the filed returns based on the unique National Identity number.
6. The federal tax rate will be a flat rate of 15%.
7. Every house will pay property taxes based on the size of the house and land but I would exempt rental properties of 4 or more units.
8. Every vehicle except commercial vehicles will pay road usage tax based on the size and year of the vehicle. Vehicles over 20 years will pay no taxes. Basically, my tax policy will tax the rich more because of their consumption since they buy the newer cars and live in bigger houses.
9. Unemployed people can get up to NGN5000 for free after filing taxes.
10. The tax collecting agency will need more tax inspectors for tax auditing.
11. People will be audited randomly for paid taxes and if your lifestyle does not match your income declared on your tax return, you’ll be made to pay a penalty or face a jail term.
12. I will be building new prisons and they need to be staffed.
13. Mineral resources will belong to the owners of the land but will be taxed and controlled by the government.
Crude Oil Revenue
14. The current crude oil revenue sharing philosophy will be gradually phased out over 10 years and states will be encouraged to generate their own IGR. For each of the 10 years, the revenue to states will be reduced by 10% but the states can get it back by generating an equal amount of IGR.
15. Fee or subsidized basic healthcare for people under a certain age.
16. Federally funded technology centers and incubation centers will be created and built in all universities. Their staff will be federal employees and they will be evaluated yearly based on how many successful companies students created. Technology bulletins will also be created weekly from mined patent data to help solve common challenges faced by business owners and entrepreneurs.
17. Corporate taxes will be zero for the first 5 years for any company not in the oil sector that hires at least 100 people. For every year after that, the tax will go up 20% until reaching the normal corporate tax rate.
18. Imports of non-essential goods will attract additional import duty of 50%. Non-essentials goods include anything that is not required to sustain a life.
Selection of cabinet members
19. Qualified and experienced candidates will be encouraged to apply but each of the applicants will be tested and the position will go to the person with the highest score until he/she messes up and gets fired. I will then select the next person in line. No cabinet member will be selected based on tribe or religion except those that represent their tribe.
20. People in my cabinet will need to take personal responsibility for their subordinate's actions. If someone under you messes up, I'll be firing the both of you and your supervisor will get a warning. 3 warnings and the supervisor is out.
21. Every last week of the month will be devoted to cabinet members. I will need DETAILED briefing of what they did the month prior and what they're going to do for the following month. This will be matched to the plan the submitted at the beginning of the year for their department. You have to meet 80% of your objectives otherwise you're out.
22. I will create an Office of Verification and their job will be to verify EVERY single project that involves federal money. This verification will be independent of what cabinet members tell me.
Fuel Subsidy - controversial but needs to be dealt with
23. I think the fuel subsidy should be removed generally and should only be given to the needy in form of monthly payments. Think of it as a welfare/safety net system, if you will. However, it should only be given to people that file their taxes for the current year. For people having zero income, they should still be made to file their taxes declaring zero income. The payments should be graduated for people of different income brackets.
Salary of NGN 0 – 36K should get 100% of the monthly subsidy payment
Salary of NGN 36.01 – 60K should get 75%
Salary of NGN 60.01 – 75K should get 25%
Salary of NGN 100K plus should get 0%
This way, there is little to no benefit smuggling fuel into neighboring countries and also wasting money subsidizing fuel to the affluent. More taxes revenue will be generated by the government from people wanting State benefits, while making sure that the needy will not surfer.
24. Exactly why are we still importing fuel? Buhari need to reserve a month for meetings with EVERY single director in a position of power at the NNPC and the refineries. Those found wanting or less than truthful should be made examples out of.
|Politics / Re: Barcanista And The Promise Of Ministerial Aide by Wallie(m): 9:31pm On Apr 01|
People become jaded or disillusioned in politicians for different reasons but it usually happens when the politician that they support fails to deliver on promises made. Whatever reasons the OP, an ardent supporter of Buhari had for switching candidates midstream, even before Buhari had an opportunity to prove himself, is best known to him. However, I do agree that the switch showed waffling tendencies. You simply cannot just switch-off or switch-on your convictions like a light bulb because it happens over time.
More importantly, I think this is a lesson to blind followers of personalities. You never really know the true motivation of your “leaders” or their bias. Learn to think independently so that whatever decision you make, even if it ultimately aligns with that of your leader, is mostly of your own volition.
I think the OP might be caught in a scenario where his online persona overlaps his real identity, and he has no choice but to clear his name because some people know who he is.
|Politics / Re: Should General Buhari Probe President Jonathan? by Wallie(m): 2:54am On Apr 01|
Yes but in the following order:
1. All of those that were indicted and reports were submitted. This should be a low hanging fruit to set the tone.
2. Then NNPC, power sector, and the refineries because they're too important to ignore.
3. Next in line should be all of those that think immunity shields them.
4. Lastly, the current administration.
|Politics / Re: Can Igbos Survive The Murky Waters Of Nigerian Politics? by Wallie(m): 10:07pm On Mar 31|
True democracy is relatively new to us but there's no doubt that the smarter ones among us grow sophisticatedly with each passing election. This election will surely teach some politicians how to strategize in order to win this game of numbers that we call democracy.
|Politics / Re: Can Igbos Survive The Murky Waters Of Nigerian Politics? by Wallie(m): 9:52pm On Mar 31|
I told you that already in my first post quoted below.
|Politics / Re: Can Igbos Survive The Murky Waters Of Nigerian Politics? by Wallie(m): 9:48pm On Mar 31|
I think this is attributable to the Not-GEJ syndrome. I think people are just genuinely tired and want change.
Anyway, don't let me derail your thread.
|Politics / Re: Can Igbos Survive The Murky Waters Of Nigerian Politics? by Wallie(m): 9:44pm On Mar 31|
No doubt that more Yorubas voted for APC but the result wasn't one-sided! With Yorubas, titans like Tinubu may try to get people to vote his way but we're too independent-minded to vote sheepishly. We mostly vote based on merit.
If parties were joined based on merits, there’s absolutely no reason why APC should not have a huge following in the SE. You cannot honestly tell me that most Igbos that voted for PDP in the SE are happy with GEJ’s performance.
Further, if you’re being strategic and tribalism is not an issue, a slightly popular Igbo candidate should have contested for the senate on APC’s platform, especially now that APC controls the senate but Igbo politicians know that there’s no way to garner Igbo vote if they contested on APC’s platform.
In general, in Nigeria, we do not strategize and only go for what’s directly in front of our nose even when implementing our trade policies or investing!
|Politics / Re: Can Igbos Survive The Murky Waters Of Nigerian Politics? by Wallie(m): 9:18pm On Mar 31|
I think you actually missed one of the most important reasons - voting or supporting a candidate/party based on tribal sentiments. Until most Igbos, and other clannish Nigerians, evolve as a group and support a candidate/party based on merits, this type of problems will always occur. By the way, most Hausas have the same problem.
Whenever a group of people or an establishment lacks diversity, they are essentially putting all their eggs in the same basket because there is no “alternative”. There is a reason why fortune 500 companies do not just hire students from a single great school. You need people with different and sometimes contrary point of views to contrast your views with.
|Politics / Re: Asari Dokubo Disassociates Self From Tweet Attributed To Him by Wallie(m): 7:56pm On Mar 31|
But how do people like Dangote thrive and not just survive through successive governments? Even if he only supports PDP, I’m certain that he would have been approached during the primaries by different PDP candidates.
|Politics / Re: Asari Dokubo Disassociates Self From Tweet Attributed To Him by Wallie(m): 6:57pm On Mar 31|
A smart friend of the government in power would have remained neutral! He needs to learn from Dangote, Otedola, etc... You can support your candidate quietly with resources. Better yet, support both candidates and hedge your bet!
|Car Talk / Re: A Lady Drove This Killer Machine Today And Got Everyone Talking (Pic) by Wallie(m): 7:49pm On Mar 27|
This is not an Aventador. It looks like a 2012-2013 Lamborghini Gallardo that cost around $180K-$260k.
|Politics / Re: Prof Osinbajo Documentary (Video) - An Eye Opener by Wallie(m): 10:03pm On Mar 25|
I just watched about 2/3 of the video and the claims that they're making against SimmonsCooper Partners are silly!
To whom does SimmonsCooper Partners owe a duty, indigenes of Kano or Pfizer? Who’s paying for SimmonsCooper Partners’ services?
An attorney has to represent his client to the best of his ability; otherwise, you could face malpractice suit or be disbarred! Even when your client has done the most heinous thing and you know he’s guilty, you represent him in the best light possible, maybe with the hope of getting a reduced sentence but you NEVER make the case for the other side.
If the law is not set up this way, how would an innocent person that appears guilty ever be acquitted? If the Kano state government is that fearful of SimmonsCooper Partners then they should have hired the law firm to represent their interest!
In litigation, you hire the best lawyer you can; hopefully, one that will put the fear of God in the opposing party and force them to settle.
|Politics / Re: See The Controversial Front Page Of Sun Newspaper That Got Nigerians Talking by Wallie(m): 9:30pm On Mar 25|
LOL....the editor was just being mischievous! This supports the notion of people merely milking PDP of "free" money but will end up voting for APC. Anybody with half-a-brain would have seen the negative connotation depicted on the front page and editors are usually a smart bunch!
PDP don use their money buy negative publicity!
|Family / Re: Marrying A Guy That Is Short.. by Wallie(m): 4:56pm On Mar 25|
People are funny! All else being equal, for most people
physical attributes matter;
confidence matters, etc.
For example, assuming you have the power to choose and marry one of two people who are identical twins. They are identical down to their behavior except one weighs 100 kg and the other is 1000 kg, which would you choose? About the only reason you would choose the 1000kg twin is if you have a major fault of your own and you feel the 1000kg twin will be more accommodating.
|Business / Re: My Tech Start-up Journey by Wallie(m): 4:07pm On Mar 24|
What's your revenue model? I can see digitization and access being a low-hanging fruit feature if you can get partnerships in place.
|Business / Re: My Tech Start-up Journey by Wallie(m): 3:06pm On Mar 23|
I’ve done quite a few things in Nigeria but all I’ve ended up doing was dearly paying for the experience of knowing what not to do.
The question every entrepreneur should ask is, "do I fully understand my market and the customer segment I will be appealing to?" Once you understand your customer segment or have someone on your team that does, evaluate your plan to get the resources that you will need to be successful. If you do not have the knowledge AND resources needed, odds of being successful will be against you.
The Nigerian market is truly a gold mine and competent competitors are almost non-existent in some sectors but without the requisite knowledge and resources, one will just end up being another government-contract-seeking briefcase company but what do I know…
|Business / Re: My Tech Start-up Journey by Wallie(m): 2:36pm On Mar 23|
I'm currently in the same boat but my SAAS B2B startup is US based and I'm currently seeking Series A funding.
Dealing with institutional investors is nerve–wracking and time consuming especially when you're a solo founder like me. The amount of equity and terms they're seeking when you find a receptive investor almost makes you say "fu.k it', especially when you're looking at your burn rate! Couple the fund raising headache with customer development and acquisition, conversion of users to paying customers, attending trade expos, continued software development, resource issues, keeping an eye on VC funded competitors, uncertainties in some of your hypothesis, a full-time job, and family obligations...I will be writing a book once I exit. :-)
By the way, if any Nairalander attends Johns Hopkins, I will be participating in the 2015 Startup Fest at Carey Business School to recruit.
|Crime / Re: Aisha Mustapha's Body After She Was Found (Graphic Photo) by Wallie(m): 4:43pm On Mar 18|
WHY DO YOU HAVE TO GO TO A POLICE STATION TO OBTAIN CLEARANCE BEFORE BEING TREATED?
So many innocent people have lost their lives due to the silly and unconscionable requirement! Why can't the hospital put a call in to the police station after the patient has been stabilized?
It is amazing the way people die in this efing country! No wonder why the life expectancy is probably in the 40s!
|Family / Re: Is Money Everything? by Wallie(m): 12:21am On Mar 08|
I agree but think about this: what do you think keeps Dangote and Otedola up at night or do you think that they do not worry about anything? Otedola practically went broke a few years ago. Dangote lost how many billion dollars in the span of just one year? Do you know how many "rich" people are running around scared of the election results? It is true that they're not worried about the basic necessities of life but they certainly do worry about the things money can't buy.
But like was quoted in the first response "being rich is better than not being rich."
|Family / Re: Is Money Everything? by Wallie(m): 10:14pm On Mar 06|
It will sound like I'm splitting hairs but bear with me: tax avoidance is legal but tax evasion is illegal. Tax avoidance lowers your tax bill by structuring your transactions so that you reap the largest tax benefits and is considered extremely wise. This is why a company that made billions of dollars can end up paying $0 in taxes. On the other hand, tax evasion is an attempt to reduce your tax liability by deceit, or concealment. Tax evasion is a crime. HSBC was enabling a crime.
Also, it is easier to say that people in the higher tax bracket should be taxed more to pay for stuff until you find yourself in the same tax bracket. For example, there's the debate that occurred when Obama was proposing to charge people that made $250k-500k per year more because they're considered "rich".
Most people in the lower tax bracket said "sure" they're millionaires; tax them more but people that made a little over $250k are saying, "What the hell are you talking about? I'm just slightly more comfortable than you and I'm also struggling just to make it to the next tax bracket!." In reality, $250k/yr is not a lot of money by the time you pay your taxes, private schooling for the kids, house in a decent neighborhood, student loans, and two cars. There’s an acronym for people like that: High Earners, Not Rich Yet (HENRYs).
|Politics / Re: AIT Documentary On Tinubu: Lion Of Bourdillion (Videos) by Wallie(m): 3:41pm On Mar 04|
If Tinubu is as corrupt as alleged and the list of his alleged illegal transactions are well-known, what else is the sitting government waiting for to prosecute him?
I think this documentary, if true, really indicts the sitting government as not doing enough to combat corruption! What else do they want to prosecute him? They have the power of the incumbency, Tinubu being an arch enemy, EFCC, judiciary, police, etc. What else do they need?
If you can’t prosecute an arch enemy with well-known and publicized illegal transactions, how can you prosecute those who actively hide their illegal dealings and may have immunity?
|Business / How Would One Start A Small Business With $2 Working Capital? by Wallie(m): 3:07pm On Mar 03|
Put up $8 of your own money. Your company now has a post-money valuation of $10, and your investor friend owns 20% of your new venture, BrownieLuv.
Use $4 to buy 4 boxes of Duncan Hines Fudge Brownie mix (on sale at $1 each.) Use the remaining $6 to buy eggs and vegetable oil (or, even better, use your own), red Cling Wrap, and heart-shaped stickers. Use your own tap water, energy source, and oven.
Each box of brownie mix should yield 12 large brownies. Wrap each brownie neatly in the red Cling Wrap and seal with a heart-shaped sticker. Arrange the brownies on pretty ceramic dishes or platters, or perhaps small wicker baskets dug out of the attic. Commission an artistic friend to create a catchy sign out of poster board and sharpies (BrownieLuv is Here!) Cost: 1 brownie.
Seek out two trendy food trucks serving your area. Negotiate strategic partnerships wherein the owners receive 50% of all brownie revenue. The duration of the strategic partnerships: 30 days. If the owners balk at the duration, structure them so that they will terminate if/when the brownies fail to reach a predetermined benchmark (surely there will be 24 buyers per food truck over the course of a busy lunch hour.) Price point: $1.00 per brownie.
48 Brownies a Day (30 Days) @1.00 = $1440 [Gross]
Proceeds after Partner Share = $720 [Net]
120 Boxes (Batches) of Mix @1.00 = $120
Vegetable Oil (2 ounces per Batch @$.09/ounce) = $21.16
Stickers (1440 @ $.03/sticker) = $43.20
Eggs (120 @$.16/egg) = $20
Cling Wrap (3 boxes of 200 sq.f.) = $10.50
Total = $215.30
Your share of BrownieLuv is now worth roughly $403.76. Your investor friend's stake is now worth $100.94, a 5000% increase in the value of her initial investment.
|Politics / Re: GEJ's CYBERCRIME BILL Allows FG To Spy On Nigerians - Death Sentence For Hackers by Wallie(m): 10:18pm On Feb 24|
Death sentence for hacking "Critical National Information Infrastructure"? What EXACTLY is Critical National Information Infrastructure?
How come starving "Critical National Information Infrastructure" of allocated funds by way of embezzlement does not carry the death penalty? It seems the stiffest punishments are ALWAYS reserved for crimes committed by ordinary citizens!
|Politics / Re: President Jonathan Missed The Point On The Missing N30 Trillion - Soludo by Wallie(m): 7:15pm On Feb 24|
Shey na by force to comment? If you're going to comment the least you could do is read the damn article!
|Religion / Re: Jesus Was A Black Man by Wallie(m): 9:58pm On Feb 20|
I'm not commenting on the veracity of what you wrote but the allusion that "history classes" correctly convey historical facts. In your own lifetime, haven’t you seen history being distorted? What makes you think that those in power did not re-write the history in the textbooks used to teach us?
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|Religion / Re: Jesus Was A Black Man by Wallie(m): 8:15pm On Feb 20|
My guy, like I said, I believe in taking responsibility for one's actions but it is not that simple. I personally detest people making excuses for their failures and not taking responsibility for them. I believe one should keep trying in spite of those standing in one's way. Nobody said life was fair.
We have nobody to blame than ourselves; however, that does not mean that others are not enablers of our shortsightedness.
Here's how -
1. Oil gets stolen from Niger Delta by the shipload. Who buys them?
2. A popular politician becomes wise and wants to kick against colonialism. He ends up dead or his puppet opposition gets funded miraculously.
3. Why are all the French colonies in Africa, 14 countries, still using a currency dictated by France? CFA's value is pegged to the Euro, which is controlled by the European Central Bank.
4. African politicians steal money and invest where?
5. Nigerian politicians steal money and hide it in which banks?
6. Why is China re-colonizing Africa by buying and tying up all our natural resources? What happens when we need access to the resources or realize that the cheap money they gave us has been mismanaged?
7. Who is going to deal with the long term effect of the oil spill in the Niger Delta? Assuming the Nigerian govt does not know any better, can the same be said for the foreign companies that operate in Nigeria? Can they try the same thing in non-third world countries?
Like I said, ultimately, the responsibility is ours and caused by our greed and shortsightedness but there are others that are complicit. I just wish we can be strategic for once and see past our nose!
|Religion / Re: Jesus Was A Black Man by Wallie(m): 6:01pm On Feb 20|
I do not believe in making excuses but your question is somewhat naive. What do you mean by "prove himself"? Are you saying that if you compare a group of white babies to a group of black babies from well-adjusted parents, if tested as kids before environmental factors kicks in, one group will be better than the other? If you believe one group is better, then how is it possible for the other group to sometimes test higher than the first group? Nigerians are known to excel academically all over the world. Can you imagine if we have the same type of structure and encouragement as white people?
Our surroundings (parents, teachers, friends, schools, social class, and family connections) help mold who we grow up to be! You cannot simply compare the end result and use that as prove! On average, even Nigerians that spent the first 18 years of their life in Nigeria but now live in the US will be more “informed” and better “exposed” than their counterparts still in Nigeria. It is not that the Nigerians in the US are necessarily smarter; it is because they’re exposed to more in their daily lives especially if they schooled and work in the US.
How one is treated in the environment they grow up in matters a great deal!
White people appear superior not because they inherently have better intelligence but because the societal factors that hold some groups down and discourages them, mostly, do not work against them.
|Religion / Re: Jesus Was A Black Man by Wallie(m): 5:14pm On Feb 20|
I guess people never wondered why (1) white is considered pure, (2) white is beautiful, (3) white is considered superior, and (4) why a child of mixed race is considered a member of the lesser race (hypodescent)?
|Religion / Re: Jesus Was A Black Man by Wallie(m): 4:42pm On Feb 20|
I started the thread below awhile ago where I asked the same question.
|Politics / Re: 615 Terrorist killed In Both Air And Ground Attacks In Sambista Forest - Pic by Wallie(m): 3:19pm On Feb 20|
1. No sign of blood anywhere.
2. It appears they died in agony.
My guess is that died of some sort of chemical weapon. Their death is certainly good news but the govt should be careful not to take illegal actions that they would have to account for in the future; at the very least, stop with the pictures!
Years after the menace of Boko Haram subsides, people would have forgotten how they held the NE at ransom but some people will be looking to settle an old score by trying to get the govt to account for the killings.
The govt is between a rock and a hard place! Damned if you do, damned if you don’t!
|Family / Re: Is Money Everything? by Wallie(m): 3:22am On Feb 20|
This is by far my biggest issue today! I only desire things just slightly outside my reach but once acquired it is time to move on. I prefer the chase more than the catch.
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