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Wallie's Posts

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Celebrities / Re: Rick Ross Escapes Drive-By Shooting & Crashes His Car by Wallie(m): 11:12pm On Jan 28, 2013
About 20 shots fired with none hitting the car? I wouldn't put it pass him to stage something like this! And if it wasn't staged, I'll say his beef with Jeezy is catching up to him!
Politics / If You Are The President Of Nigeria, What Will You Do Differently? by Wallie(m): 3:50pm On Jan 28, 2013
It is very easy to find fault in what someone else did or his doing; however, we find it difficult to profess a workable solution facing the same constraints. For one reason or another, some people feel jaded and/or disillusioned because GEJ has not lived up to their expectations, regardless of whether their expectations were reasonable or not.

In the interest of full disclosure, I’m one of those people but I constantly ask myself if I can do any better facing the same constraints – some of the constraints which probably fostered me into power. I won’t answer the question so as not to set the tone of this post by seeming to be anti or pro GEJ.

However, the question for you is:

If you wake up tomorrow and find yourself to be the President of Nigeria, what would you do about the following and how would you do it? The “how” is the most important part of this exercise.

1. Boko Haram, MEND, OPC etc (any armed group)
2. Police and their inadequacies
3. Manufacturing including import/export
4. Youth unemployment
5. Taxes
6. Crude Oil revenue
7. Mineral resources (mines)
8. Healthcare
9. Education
10. Federal infrastructure (power supply, roads, railways, airports, ports, waterways etc)
11. Food supply (agriculture)
12. Corruption including fraud/embezzlement
13. Allegation of corruption against former politicians
14. Judiciary
15. How will you select your cabinet

Keep in mind that you are a democratically elected President which means that you must act within the constitution. For example, you can’t just say you will throw former politicians alleged to be corrupt in jail without due process. You will have to charge them to court and seek a conviction against them from judges that may or may not be corrupt.


EDIT....

I'm going to phrase the question differently to allow for more answers.

Are you currently happy with Nigeria the way it is? If not, what are you not happy about and how will you change it?

1 Like

Politics / Re: Only Lagos Can Survive Without Oil – Fashola by Wallie(m): 11:24pm On Jan 27, 2013
aribisala0:
It is quite easy to see how we get on opposite sides grin grin

I think then I speak; You speak and then you speak .The outcome is always predictable won't you say wink

Predictable in my favor? Sure; I take no prisoners! cheesy Although, another explanation could be that your moments of brilliance are sinusoidal or topic dependent. grin Either way, you hold your own!
Celebrities / Re: Google Billionaire Seen Riding On New York City Subway by Wallie(m): 4:27pm On Jan 26, 2013
AjanleKoko: ^^^
Surrounded by aides. undecided

Yep, Mayors get police escort. The truth is that unrecognized billionaires are the only ones that can walk freely in any crowd in a large city. Jay-Z took the subway recently and you should see the commotion he caused but he also had two stern looking NYPD-type bodyguards with him.

On thing you should note in the picture is that he's standing just like a common man.
Celebrities / Re: Google Billionaire Seen Riding On New York City Subway by Wallie(m): 2:17pm On Jan 26, 2013
Michael Rubens Bloomberg (born February 14, 1942) is an American business magnate, politician and philanthropist. He is currently Mayor of New York City. With a net worth of $25 billion in 2012, he is also the 10th-richest person in the United States.[1] He is the founder and 88% owner of Bloomberg L.P., a financial data-services firm.

Health / Re: Mouth Swab As A Method Of Testing For DNA ( Pls Its Urgent ) by Wallie(m): 9:21pm On Jan 23, 2013
kushbab: the major thing bothering me nw is that he is angry and has told his relative to take me back formally to my mum's people and all the while i've been, he never allowed me visit my mum or her family members. Am very scared of hw am goin to cope considering that am in my final year.

Tell your dad that your biological father, whom you have no interest in knowing, is just a sperm donor and your real father is the person that has raised and loved you all his life, your dad. You will be surprised the difference you can make in this issue by letting your father know that you truly do not care about your biological father, if that's indeed the case.

Being a father is more than just kick starting the conception of a baby. I’m sure your dad is hurting and probably feels betrayed by your mom but that’s really between the both of them and has nothing to do with you, especially since it seems you’re of age. Good luck!

26 Likes

Literature / Re: Learning About Yourself Exercise by Wallie(m): 9:03pm On Jan 23, 2013
Interesting...

1, 3, 4, 9, 17, 24
Politics / Re: Only Lagos Can Survive Without Oil – Fashola by Wallie(m): 3:15am On Jan 22, 2013
aribisala0: Let me try again . Perhaps you have heard of the Suez Canal ? Egypt OWNS the Suez canal. If Egypt was as strong militarily as Russia.Ownership of the Suez Canal would make it one of the richest nations on Earth because it can impose levies on whatever goods pass through it. Now it has to compromise and be "reasonable" with the powers that are

All along I argued that Lagos's position is because of its location and the unique nature of access and its ports which were there before 1900 when it was a colony.But Afam4eva claimed the ports were built from commonwealth or by FG

DaLover is here shouting it was built with NigerDelta rubber and Palm Oil .You Yust do not get it.Our people say it is the man with the Yam who looks for the man with the yam not the other way round.Why did they not move the oil and rubber out through Warri or Calabar since you have been shouting all along that all coasts are the same.
Is that argument just as ridiculous as saying the US was built with Nigerian slaves? or Britain by Jamaican Sugar?

Is it the mouth that tells the stomach it is hungry or the other way round?

Lagos's position in those days was a very solid monopoly.You want to export your goods you pass through us and we take our share which may be bigger than yours.Shouting it is Niger delta oil or rubber is like shouting it is African coffee or Cocoa . Is it Africans that make the money or Nestle and Starbucks.
London is the place where the greatest number of financial transactions are done.Will it not be foolish of Arabs to say London was built on Arab oil.Nay London was built on British diplomacy,trickery,colonial history etc.
Lagos is what it is because of where it is period.Those who invested in it had no choice if they wanted to trade in Nigeria or more correctly the choices were less PROFITABLE.
What the figures in this link tell you is how much money was being made from Lagos wharfs before 1900. Clearly it was a profitable investment for the British

To the extent that they established a telephone exchange IN LAGOS as far back as 1890 and street lights 1898.
.http://libsysdigi.library.illinois.edu/ilharvest/Africana/Books2011-05/3064634/3064634_1898_lagos/3064634_1898_lagos_opt.pdf

I wonder how we get on opposing sides of arguments! I guess we both must have strong convictions in what we perceive to be the truth! Great use of facts in you rebuttals… It will definitely be an honor to debate you in real life. grin
Family / Re: What Is Your Greatest Regret In Life? by Wallie(m): 7:31pm On Jan 21, 2013
Sitting here thinking about anything I did and regretted doing but I can’t really think of any! I’ve always done what I intended and intend what I do. However, I wish I kept up with my old friends over the years especially my childhood best friend! I now feel as though so many years have passed and we all no longer know each other!
Politics / Re: Pictures Of Nigerian Troops Arrival In Mali by Wallie(m): 7:53pm On Jan 18, 2013
Cunt_Destroyer:

what is there to admire in an outfit that has more civilian body counts (and from her own citizens) than actual military kills?

An outfit that proudly gave us corrupt despots like OBJ, IBB, Abacha, Buhari and co?

This is how real a soldiers is supposed to look like

Ok but how does what you wrote detract from the fact that Nigerian soldiers have admirers?
Politics / Re: Pictures Of Nigerian Troops Arrival In Mali by Wallie(m): 7:46pm On Jan 18, 2013
Crap don pollute the thread! shocked This thread is for Nigerian soldiers and their admirers!
Politics / Re: Only Lagos Can Survive Without Oil – Fashola by Wallie(m): 6:01pm On Jan 18, 2013
FreeGlobe:
amazing your posts was centred on ports. Do you realize there are ports facilities in calabar, rivers and Delta and considerating the fact that 80 percent of ports users in the country are easterners, if all the ports were given a level playing field, the Lagos port will not be functional and the other factors you listed will not be.

I think you missed the bigger picture of my post. Yes, I did focus on ports but ports could have easily been replaced with consumers, mineral resources, or skilled workers.

Here are different development cycles that could spur economic development:

Cycle 1
Consumers in an area
Businesses go where the consumers are
Workers go where the businesses are
More businesses go where the workers are
More people in an area create demand for all the necessities of life

Cycle 2
Goods in an area due to access (ports, mineral resources)
Businesses go where the goods are
Workers go where the businesses are
More businesses go where the workers are
More people in an area create demand for all the necessities of life

Cycle 3
Skills in an area (college towns)
Businesses go where the skills are especially if the businesses do not need to directly interact with consumers
Workers go where the businesses are
Different type of businesses goes where the consumers are
More people in an area create demand for all the necessities of life


What differs between Cycle 1, Cycle 2 and Cycle 3 is the size and diversity of the market created.


To answer your question, I don’t know if other ports were given a level playing field or not but for one reason or another, the Lagos ports may be preferable to shippers.

Ports without adequate access (in or out) will be underutilized. Also, if an alternative port is friendlier (cheaper, more accessible to bigger ships, more organized, provides better roads inland, closer etc), shippers will tend to use that port.


The real problem with Nigeria and her states is that we have governments that fail to recognize a particular location’s potential. There’s no doubt that some states will be economically bigger than others and some will even find it easier than others to survive but the mere fact that the state is populated, it should be able to stand on its own to feet. It is only when people fail to come to your state even with availability of jobs that one has a major problem. (See Canada excluding Ontario some parts of QC).

For example, take a state in the US, Delaware, with land area smaller than Lagos. Delaware really has nothing going for it but do you know what they did?

1. They created business friendly corporate laws that made 50% of all traded companies in the US incorporate their businesses there. Mind you, the incorporation address is just an empty office with nothing in it and I’m not exaggerating. I have one and I registered the company over the internet with no hazzle!

2. The state sits on the major highway connecting the East Coast to the South. They set up a toll booth just before you enter their tiny state and another just before you exit – extorting exorbitant tolls from interstate travelers.

3. On that same stretch of interstate highway, they reduced the speed limit to 50 mph from 65 mph and then station aggressive cops on the road ticketing all the speeders.

4. They built a casino for gamblers when neighboring states didn’t allow gambling.

My point is that they do everything they can from the very little they have. The same cannot be said for almost any state in Nigeria!
Politics / Re: Only Lagos Can Survive Without Oil – Fashola by Wallie(m): 4:32pm On Jan 18, 2013
The primary reason Lagos is what it is today is due to its strategic location. Even if Lagos never became the capital, it would still be a bustling state, albeit a less developed one. Here’s why:

1. Businesses need access to goods. (They get it through the ports in Lagos.)

2. The businesses even if located a 1000 miles inland from Lagos will need an office or storage facility in Lagos. – (Commercial real estate goes up in price due to demand creating wealth. Transportation sector also takes off because the goods have to be delivered somewhere)

3. The businesses will need tax paying workers. – (People flock to Lagos because of availability of jobs creating more demand for real estate and more importantly, other consumables)

4. Resellers in other areas without access to the ports need goods at a cheaper price. (It will be cheaper to buy the goods in Lagos at wholesale because you can cut out the middleman and perhaps save on transportation costs. More people flocking to Lagos)

5. Lagos now has gluttony of able bodied workers which will result in more companies opening offices in Lagos because that’s where the skill and pulse of the market is.

6. A virtuous circle of development is bound to result unless the government of the state inhibits it or fail to harness it.
Politics / Re: Only Lagos Can Survive Without Oil – Fashola by Wallie(m): 3:03pm On Jan 18, 2013
edo.girl:


I don't believe I suggested that if oil runs out Lagos will remain at the same level! I made clear it would sudder, but that it would survive. Now let's move on.

I still don't get the differentiation you are trying to make between Lagos and say London. You made a rather curious remark about 'Lagos did not build itself.' What does that mean exactly? How did London build itself? Many would argue that London is what it is because of the wealth/resources repatriated from the great colonies of Australia, India, the Caribbean, and Africa centuries ago. Yet, when during the Olympics, the Mayor of London said London was the greatest city on planet earth, no one stopped to say erm,,, hold on, but London was build on the back of slave trade and resource repatriation, as such you can't claim it is the greatest.

Lagos is what it is. People should quit being over sensitive to statements alluding to its greatness/success and constantly reminding us of how it got special attention as a result of being the Federal capital, more than 20 years ago.

It's like saying, Hussain Bolt should not proclaim itself as the fastest man in the world, because had God not given him those long legs and super human lungs, Mr Lakashegbe from Ogbomosho will have run faster. It just doesn't make sense.


@ edo.girl
Your arguments, rebuttals and reasoning are impressive! More rational people like you are needed in this forum. I was so impressed that I had to look up your prior posts just to make sure your posts on this topic weren't just one-offs.

Kudos to you!

1 Like

Literature / Re: Common Grammatical Errors We Make In Our Everyday English by Wallie(m): 5:05pm On Jan 17, 2013
boborosky: could you pls go back and study your dictionary and other relevant English language text books you can find. For stating that "she has delivered a baby" is correct, i think you are a learner.

Dude, I honestly can't make sense of what you wrote; your punctuations are all over the place! I'm not trying to take a dig at you but are you saying:

1. Could you please go back and study your dictionary and other relevant English language text books you can find for stating that "she has delivered a baby" is correct. I think you are a learner! (meaning I should go and read some more for incorrectly stating "she has delivered a baby"?) or

2. Could you please go back and study your dictionary and other relevant English language text books you can find. For stating that "she has delivered a baby" is correct. I think you are a learner! (meaning I'm a learner for correctly stating, "she has delivered a baby"?)?

By the way, for avoidance of doubt, "she has delivered a baby" is correct.

1 Like

Foreign Affairs / Re: Mali: A Guide To The Conflict by Wallie(m): 3:53pm On Jan 17, 2013
Regardless of how disorganized and corrupt Nigeria is, we still have one of the most reliable intervention forces in Africa.

If the government is smart, they will develop our military forces by leveraging on all the interventions going on in Africa and they don’t really need to do much except executing a strategic plan!

We get free money, equipments and experience by intervening in other countries. It is even a good thing the US is not putting boots on ground. We will provide the boots needed if we are properly trained and equipped.

It is a win-win situation for Nigeria! Not only we will keep our boarders safe, we will have a world class military and world class equipment. And in the unfortunate case of death of any soldier, the UN should pay the family of the dead a lump sum.

BUT we need to capitalize on the situation by using the opportunities provided to upgrade our capabilities and security institutions! The goal is just not to supply bodies to fight but to get the UN to subsidize our military growth!

1 Like

Literature / Re: Common Grammatical Errors We Make In Our Everyday English by Wallie(m): 11:08pm On Jan 16, 2013
olaheavy: And I cringe when I hear folks say 'each other' instead of 'one another' when referring to more than two persons. Also, I feel like kicking some dullards' behind when I see: 'its' instead of it's. 'cant' instead of can't. 'dont' instead of don't . 'what of' instead of what about.

"Each other" is not wrong...here's something you can work with:

A and B do have a cordial relationship with each other.
A and B do have a cordial relationship each with the other. (This version is more formal)
Literature / Re: Common Grammatical Errors We Make In Our Everyday English by Wallie(m): 10:57pm On Jan 16, 2013
plendil:

'I'm hearing you' is deemed incorrect in formal English. Such verbs of perception see, hear, understand, feel, are not usually used in continuous tenses.
Thus I'm seeing you is wrong. It should be 'I can see you'

Really?

I'm looking forward to going to naija.
I'm looking forward to hearing from you.
I'll be seeing you!
Do we have an understanding?
Are you not hearing me?
Literature / Re: Common Grammatical Errors We Make In Our Everyday English by Wallie(m): 10:43pm On Jan 16, 2013
Serendipity:
Put to bed is wrong

"Put to bed" is not wrong. Put to bed is actually an idiom and is correct.
Literature / Re: Common Grammatical Errors We Make In Our Everyday English by Wallie(m): 10:42pm On Jan 16, 2013
plendil:

You misunderstand OP. Current can indeed be low, so in that context its not strictly a grammatical error. But that dim light we observe as a result of power from PHCN is actually a result of low voltage, not low current.


If I were representing the other guy, I will present the following argument:

Current comes before voltage. Current is what flows through a wire (water in a river) and voltage is current measured over a distance of resistance (two points on the river). For completion, resistance is how difficult it is for current to flow. Since resistance is constant in this context, a change in current will result in a change in voltage.

Voltage = Current X Resistance

However, if I were representing you, I will support you with the following argument:

Well, when a light bulb lights up or dims, it is a result of current flowing through the embedded filament. Since the brightness observed is a result of the filament which is pegged at both ends, you are directly observing the voltage across the filament and not the current.

Further, in simplest terms, a filament is just a wire with resistance. And since a filament has length to it (not a single point), it mostly correlates with voltage as voltage cannot be measured at a single point.

I'll work for the highest bidder!
Politics / Re: Fashola Denies Obtaining $15m From Export-import Bank by Wallie(m): 7:17pm On Jan 16, 2013
aribisala0:
Not confused at all.If you listen more and lecture less there will be no confusion . Your job was to start,out of nowhere, by telling me it was obvious I have never done international business involving ...... etc.
By the way who is Mr B surely anyone as knowledgeable as you are must know him

Mr. B ke? The only Mr. B I know used to be cool with Alali (or was it Ali?); you know, from "to be a millionaire, think like a millionaire!"
Literature / Re: Common Grammatical Errors We Make In Our Everyday English by Wallie(m): 6:17pm On Jan 16, 2013
Hmmm....did you make all these up?

boborosky: These are some errors we make in our everyday english language. Post those u knw.
Napkin(babies) instead of nappy.
Plate number. instead of number plate.---- Plate number is correct!
Driving licence. instead of driver's licence. -----> Driving license is correct depending on the context.
Barbash.instead of, balderdash (nonsense).
Packer. instead of, dustpan. ------> Packer is correct.
Infidel (for an unfaithful partner) is wrong. Though unfaithfulness = infidelity. -------> Infidel is correct if referring to the partner's behavior.
Contact a disease. instead of, contract a disease.
Eye/sun glass. instead of, eye/sun glasses.
More grease 2 ur elbow. Instead of, more power 2 ur elbow. ------> More grease to your elbow is correct as is power to your elbow.
Low current. instead of, low voltage. ----------> Low current is correct as is low voltage.
Half bread is better dan none. instead of, half a loaf is better dan no bread.
I am coming (when going out or away). Instead of, i will b back. ------> I'll give you this but I think they just left out "... right back."
I am hearing u. Instead of , i can hear u. The same applies to 'see'.-----> Depends on what you're trying to convey!
He/she is my baby (babies). Instead of , it is my baby. Pronoun for baby is 'it'.----> Both are correct.
she delivered a baby boy. Instead of, she was delivered of a baby boy. -----> Both are correct. How do you know she was delivered of a baby? She could have birthed the baby herself!
Open d floor (occasions) instead of declare d floor open.
Running nose. Instead of, runny nose.
Raining season. Instead of, rainy season.
Alright. Instead of, all right ---> Portmanteau. The new form is now, "aiight". grin
Politics / Re: Fashola Denies Obtaining $15m From Export-import Bank by Wallie(m): 5:27pm On Jan 16, 2013
aribisala0: You are the one that needs to keep up

A letter of credit would be issued by the purchaser's bank with whom the purchaser has a relationship. ie a bank on behalf of Lagos. Lagos has no relationship with Exim bank and if it is NOT a loan as Fashola has stated Exim have no contract with Lagos state. This is more of a subsidy to the seller and nothing to do with Lagos state and that is why I raised the question why does this firm need that kind of government aid for a "paltry" deal.It is clear Lagos has its own bankers who are issuing a letter of credit and the manufacturer still do not have the money to do the deal(manufacture) or cannot afford to borrow at commercial rates and are getting a SUBSIDY. Major players like Volvo or DAF etc would not need this kind of AID which makes me think the cost would be higher because a smaller firm would have less market power and tend to pay more for the same components than bigger players.
By the way Volvo owns Mack and Mack use Cummins Engines.
Exim bank has not issued Lagos a letter of credit let us be clear on that what they have done is NOT like a letter of credit because Lagos state is NOT in the loop. It is a SUBSIDY

I think the posting back and forth got you all confused! See the post at 4:43PM (post #59). grin My job is done here; I'm out, peace!
Politics / Re: World Bank: Poverty Has Reduced In Nigeria by Wallie(m): 5:20pm On Jan 16, 2013
THE REPORT IS CORRECT!

Poverty did decrease, albeit slightly, because more previously-poor people now “chop” a larger share of the national cake at the expense of the ultra-wealthy. The ultra-wealthy are former-ultra rich people that are now just rich because they’re no longer in power.

GEJ is robbing the rich to give to the poor; technically speaking! grin I bet we now have more SS and SE rich folks!

1 Like

Politics / Re: Fashola Denies Obtaining $15m From Export-import Bank by Wallie(m): 5:05pm On Jan 16, 2013
aribisala0:
HOW DOES THE ABOVE RELATE TO WHAT FOLLOWS

Funny! I never thought I could lose you in an argument especially when my response directly answers question you quoted! Abi, I only have to respond to what you explicitly stated and not what's insinuated? Keep up, man! grin

You said:

aribisala0:
There are many reasons why we should patronize Europe. But first what is the name of the chosen Manufacturer That is the more important question.Why is this a secret??.Why does this manufacturer need to have EXIM bank advance or guarantee $15 million surely that is a paltry sum in this business.
The reason for patronizing Europe include the fact that we have a longer history of using their trucks which are cheaper anyway and more familiar to our mechanics. Of course if there is a stronger case for American trucks fair enough let us know the names. Why was the process "closed" it does not apear to have followed a transparent procurement or biddding process.

What smells fishy is that we do not know the name of the company and if I was buying such trucks for my business why would I patronize a company that needs "EXIM" support when there are established players like Volvo etc. There are established American Truck manufacturers but they are smaller companies compared to The Europeans with more expensive trucks but I will be surprised to learn that an American player like MACK eg needs help from EXIM

And I responded with:

Wallie:

It is very obvious that you've never conducted an international business transaction that involves large sum of money. What happened here is just like a letter of credit (LC); something completely mundane in the international business world!

Also, do you think the manufacturer will manufacture his own engine? I can almost guarantee that the fire truck will have a Ford or Mack engine and Alliston transmission.

We are not "e-fighting" today, aribisala0; at least, not yet! shocked grin
Politics / Re: Fashola Denies Obtaining $15m From Export-import Bank by Wallie(m): 4:43pm On Jan 16, 2013
aribisala0:
You are right I have not.To be honest I have never conducted a local business involving a small sum of money or any other business involving money.

That's ok! grin

aribisala0:
But I pay tax and I vote. Please explain me? what is this Letter of Credit thing and who is issuing it here to whom?

I didn't say it is a Letter of Credit but LIKE a Letter of Credit. It is all about managing risks.

1. Ex-Im has a policy of facilitating international transactions involving US companies and foreign clients.
2. Seller does not know or trust Buyer and vice versa.
3. The easiest way to facilitate the transaction is to get parties that know each other to transact.
4. Ex-Im knows Nigerian banks and Seller.
5. Nigerian Bank knows Buyer.
6. Seller gets Ex-Im involved and Buyer gets his Nigerian bank involved.
7. Banks talk.
8. Ex-Im advances loan to Seller (policy) that is guaranteed by Nigerian bank.
9. Nigerian bank now owes Ex-Im $15m if Buyer does not pay Seller $15m on time.

aribisala0:
Is conducting international business transactions that involve large sums of money a prerequisite qualification for a voter to ask his elected representative questions?

No. I wish people asked more questions!

aribisala0:
What relevance is it to us whether Ford ,Mack ,Macdonalds, KFC or Google makes the Engines

In your earlier post, you said Lagos should have approached "Volvo, Mercedes, MAN or DAF" and asked about the brand in question. I merely tried to point out that the internals of the trucks in question were mostly likely to be from well known manufacturers.

Any more questions? grin
Politics / Re: Fashola Denies Obtaining $15m From Export-import Bank by Wallie(m): 4:07pm On Jan 16, 2013
aribisala0:
There are many reasons why we should patronize Europe. But first what is the name of the chosen Manufacturer That is the more important question.Why is this a secret??.Why does this manufacturer need to have EXIM bank advance or guarantee $15 million surely that is a paltry sum in this business.
The reason for patronizing Europe include the fact that we have a longer history of using their trucks which are cheaper anyway and more familiar to our mechanics. Of course if there is a stronger case for American trucks fair enough let us know the names. Why was the process "closed" it does not apear to have followed a transparent procurement or biddding process.

What smells fishy is that we do not know the name of the company and if I was buying such trucks for my business why would I patronize a company that needs "EXIM" support when there are established players like Volvo etc. There are established American Truck manufacturers but they are smaller companies compared to The Europeans with more expensive trucks but I will be surprised to learn that an American player like MACK eg needs help from EXIM

It is very obvious that you've never conducted an international business transaction that involves large sum of money. What happened here is just like a letter of credit (LC); something completely mundane in the international business world!

Also, do you think the manufacturer will manufacture his own engine? I can almost guarantee that the fire truck will have a Ford or Mack engine and Alliston transmission.
Politics / Re: Fashola Denies Obtaining $15m From Export-import Bank by Wallie(m): 3:58pm On Jan 16, 2013
Amacaco: What I understand His Excellency to be saying is that Lagos state Government ordered for these fire trucks from the manufacturers and payment was guaranteed by a Nigerian Bank. To my understanding, that is a credit facility granted to Lagos state Government. Strictly speaking, credit facilities by financial institutions are Loans. there are to be paid back at a future date with interests and charges.

EXACTLY why I said a loan was given!

1. Somebody got paid $15M already to supply the trucks to Lagos State. The person who got paid is the manufacturer but where did the money come from? Ex-Im.
2. How is Ex-Im going to get paid? The Nigerian Bank.
3. How is the Nigerian bank going to get paid? Lagos State

BUT keep in mind that before steps 2 and 3 happens, the manufacturer is sitting on $15M and since money does not fall from thin air, somebody got advanced a loan or credit.
Politics / Re: Fashola Denies Obtaining $15m From Export-import Bank by Wallie(m): 3:49pm On Jan 16, 2013
aribisala0:
My reading of this deal is the manufacturer is a minor unknown player or one with cashflow problems and Lagos have declined to pay them directly which seems quite diligent to me.The EXIM bank have agreed to advance the Manufacturer the money because they believe that Lagos can and will pay (they will have or should have a contract) and their motivation is to create jobs in their country.
This is why I question why not buy from an established player like Volvo or Mercedes?? my guess is since EXIM is involved there is some politics at play as EXIM is basically US government money.

Correct but what you've done is only to explain the US side of the equation! Try explaining the relationship of the Nigerian bank in the transaction.

I guess when I said “loan” it was a misnomer and should have been “credit”.
Politics / Re: U.S. To Expand Drone Attacks To Nigeria Says Leon Panetta, U.s. Defence S by Wallie(m): 3:38pm On Jan 16, 2013
nas 00:

For instance, Afghanistan is arguably the world's largest producer of opium and cannabis. After the USA's lockdown on that country in the wake of the 9-11 attacks, the production and export of opium paradoxically continued to rise in Afghanistan, a war-torn country, because it was part of George Walker Bush's secret agenda to subtly divert more manpower (including women and children) into opium farming under strategic military control. Bush secretly took over the Afghan opium market while 'smart people' like you believed his only agenda was to crush the Taliban.

Hmmm? shocked


nas 00:

You noted america is a net exporter of agricultural produce. Well, maybe America exports this highly lucrative opium on a commercial scale too, or oil palm or groundnuts.

You don’t sound too smart at all! This does not even deserve a response.

nas 00:

Their overall aim is to rule the world. That is why they promote subtle policies to cage weaker nations in, and make them work for america while they short-change these nations.

I don't know where you've been since the 2nd world war but America started "ruling" the world afterwards!


nas 00:
Struggling to prevent North Korea, Iran, Pakistan et al from acquiring or testing nuclear weapons, when USA did just the same, leveling Hiroshima and Nagasaki in the process?

How old are you? You either very young, naive, high on shepe and/or just plain dumb! Can you imagine if a group like book haram gets their hands on a nuclear weapon? Do you understand the implications or you want me to spell it out for you?

Actually, I think I’m done responding to you until you show you have the mental capacity greater than that of a 10 year old with internet access!
Politics / Re: U.S. To Expand Drone Attacks To Nigeria Says Leon Panetta, U.s. Defence S by Wallie(m): 3:19pm On Jan 16, 2013
nas 00:

We should stop commenting?
You think you know, but I don't think you know. Are you reallly so mentally warped, that you cannot see the bigger picture?
Cut me the crap. Every enligthened preson knows the USA is a major producer (and exporter) of agricultural produce and the USA had large crude oil and natural gas deposits ab-initio, in spite of their crude imports.
The truth you find difficult to fathom is that the american powers are not contented with what they have. Their ultimate goal is to control the world's resources, take advantage of weaker countries and dominate the world by proxy.

'Agriculture' is a term I hope your naughtiness understands. The USA doesn't just target countries for no strategic reason besides their primary excuse.
For instance, Afghanistan is arguably the world's largest producer of opium and cannabis. After the USA's lockdown on that country in the wake of the 9-11 attacks, the production and export of opium paradoxically continued to rise in Afghanistan, a war-torn country, because it was part of George Walker Bush's secret agenda to subtly divert more manpower (including women and children) into opium farming under strategic military control. Bush secretly took over the Afghan opium market while 'smart people' like you believed his only agenda was to crush the Taliban.
You noted america is a net exporter of agricultural produce. Well, maybe America exports this highly lucrative opium on a commercial scale too, or oil palm or groundnuts.

To open your eyes to the smokescreen principle of operation by america. Read between the lines:

http://www.cageprisoners.com/our-work/blog/item/4112-the-afghan-connection-the-war-on-terror-an-opiate-cash-cow

http://www.globalresearch.ca/the-spoils-of-war-afghanistan-s-multibillion-dollar-heroin-trade/91

http://rockcreekfreepress.tumblr.com/post/466008956/bushopium

America is smart (but we aren't necessarily less smart). By the time they finish with nigeria, most of our youth will likely be working for the greater gain of the USA, maybe on vast farmlands and mines with vested american interests. (which is good in a way for our agric sector, but I'd kick against for the cynical intent). Their overall aim is to rule the world. That is why they promote subtle policies to cage weaker nations in, and make them work for america while they short-change these nations.

Struggling to prevent North Korea, Iran, Pakistan et al from acquiring or testing nuclear weapons, when USA did just the same, leveling Hiroshima and Nagasaki in the process?

Guy, I speak from hindsight, insight and foresight. If you think other people's opinion don't count, then, too bad.
That said, I will say it again. Besides their 'drone attacks', the USA is most likely aiming to 'codedly' cash in on our economy, mainly agriculture and mineral resources. They are only giving an excuse to infilterate like they've evidently done to some countries in the middle east.

He who has ears, let him hear.

And here I was thinking that Crap-the-frustrated-28 was the king of conspiracy theorists! Abi na you be dat, crap-the-frustrated-28? You don change name? grin

Guy, you wrote so much crap that I don't even know where to begin! You're just all over the place with your theories and it will take too much of my time to rebut them all. I'll give you a rebuttal but let's take your theories one at a time. What's your first theory?
Politics / Re: Fashola Denies Obtaining $15m From Export-import Bank by Wallie(m): 2:05pm On Jan 16, 2013
aribisala0: The problem I have with this explanation is this. It would appear the manufacturer has solvency problems. Why buy from this particular manufacturer whose name we would like to know.There are other manufacturers surely ? How and why was that particular manufacturer chosen.

According to Fashola
"Now fire engines are not what you can walk into any company and purchase easily."
Why not.are they weapons or some top secret technoloy. Shell ,NNPC etc buy them all the time.
If the issue is the manufacturer doubting your ability to pay and asking for a "deposit" then make that clear.
I also question why we are buying from America and Not Europe(Volvo,Mercedes,MAN or DAF). What is the brand of trucks in question??The explanation befuddles rather than enlightens

Whilst there may not have been borrowing.It smells a bit fishy
having said that,the governnment is right to buy fire engines and to prepare for fire accidents and emergencies.I support that and we must not forget the response of Lagos State to the tragic Dana Air Crash last year . I believe it was quite dignified the way bodies were removed and that would not have happened without planning. The purpose of criticism of government should not be about scoring political points alone but also to give helpful feedback


The bottom line is that Lagos is borrowing money but not directly from Ex-Im Bank.

Loan Guarantee - In cases when a foreign buyer seeks a loan to purchase U.S. made goods, and in-country loans are too expensive, Ex-Im Bank can provide a loan guarantee to a commercial lending institution to make the loan to the foreign buyer. Ex-Im Bank will guarantee up to 85% of principal and interest of the U.S. contract price.

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