“So what Ex-IM Bank did was to provide the capital to the manufacturer guaranteed by a Nigerian bank, whom we will pay to, so we are only buying a product. We did not take any loan,” he said.

I've been through the process personally and what he said above is how it works.

Direct Loan
Fixed-Rate Term Financing for International Buyers
Ex-Im Bank's direct loans help you secure competitive financing for your international buyers. We provide fixed-rate financing-- up to 12 years in general and up to 18 years for renewable energy projects--to creditworthy international buyers in both the private and public sector, and finance your local costs up to 30%. With our direct loan, international buyers get competitive term financing that may previously have been unavailable.

How will these direct loans help my business?
Ex-Im Bank's Direct Loans provide:

Financing for international buyers of U.S. goods and services.
No limits on transaction size.
Fixed-rate financing with interest rate set at the Commercial Interest Reference Rate (CIRR). (See Commercial Interest Reference Rate – CIRR).
Coverage for 100% of commercial and political risks.
Financing of up to 30% of local costs in addition to the U.S. exports.
Financing of ancillary services and fees (legal, financial, bank, etc.)
Eligibility Requirements
Ex-Im Bank finances only the U.S content. Please review Ex-Im Content Policy for more information.
Ex-Im Bank can do business in most markets. However, we may be limited or unable to offer financing in certain countries and under certain terms. (See Country Information - Country Limitation Schedule).
Products must be shipped from the U.S. to a foreign buyer.
There is no minimum or maximum limit to the size of the export sale that may be financed with Ex-Im Bank's direct loan.
Ex-Im Bank cannot support exports of military or defense products and services (with some exceptions), nor can we support purchases made by military buyers.
All direct loans are subject to U.S. flag shipping requirements. (See Shipping Policy – MARAD).
Ex-Im Bank's direct loan to an international buyer is generally used for financing purchases of U.S. capital equipment and services. Prior to approving certain transactions, Ex-Im Bank will consider the economic impact of a particular transaction (see Ex-Im Bank policies - Economic Impact) and the environmental effects (see Ex-Im Bank policies - Environment).

Coverage
This coverage is available for medium-term and long-term transactions. The total level of Ex-Im Bank support will be the lesser of 85% of the value of all eligible goods and services in the U.S. supply contract or 100% of the U.S. content in all eligible goods and services in the U.S. supply contract.

Fees
Letter of Interest processing fee - $100
A commitment fee of 0.5%, based on unused portions of the loan
An exposure fee based on risk (variable; see Exposure Fee Calculator)
Interest rate fixed at Commercial Interest Reference Rate (CIRR)
Repayment Terms
Generally, the repayment term of a transaction is determined by numerous variables, including, but not limited to, the borrower's financial condition, the common repayment terms the market gives such products, specific industry practices, industry and country conditions, useful life, OECD and Berne Union agreements, and the matching of terms offered by other foreign government-sponsored financing. Repayment terms are generally in excess of seven years.

Application
Final Commitment (AP): If the contract has been awarded, only the international borrower may submit the final commitment (AP) application.
Letter of Interest (LI): If the contract has not been awarded, then an exporter, an international borrower, or a lender may request a nonbinding letter of interest (LI) containing Ex-Im Bank terms for the specific transaction. The LI is processed within seven working days, is valid for six months, and can be renewed.
Preliminary Commitment (PC): In exceptional cases, Ex-Im Bank will accept an application for a preliminary commitment (PC). A PC is a nonbinding expression of interest from Ex-Im Bank that the borrower's needs, as outlined in the application, generally meet Ex-Im Bank's financing requirements.
Getting Started
Please visit the nearest Ex-Im Bank office for a free consultation with an Export-Import Bank Trade Finance Manager, call 202-565-3946 or email us at info@exim.gov.

If you are not a current Ex-Im customer, and would like to know more about the application process and apply on line, REVIEW THE PROCESS OVERVIEW HERE.

http://www.exim.gov/products/direct-loan.cfm

First thing that came to mind - fainting goats. Myotonic goats stiffen up and faint momentarily when startled or excited. The lady just couldn't contain her excitement of boko haram showing up...

I really don't understand why people are surprised by this! In the history of Nigeria, when things get out of hand or require advanced technologies, have we EVER handled it ourselves?

1. During the Biafra war, did we get outside help? Where the guns, planes and ammunition made in Nigeria?
2. When oil was discovered, who drilled for it?
3. When we wanted to build refineries, who built it?
4. What about bridges?
5. When the elites fall sick where do they go?
6. Who provided the technical knowledge and man power for the telephone services that you're using?
7. Now we have Boko Haram killing innocent people at will and soldiers retaliating by extrajudiciously killing innocent people, all with no end in sight!

Yet, we blame GEJ for not doing enough but what exactly do we expect him to do? Develop the Intelligence agencies overnight? Manufacture the needed technologies overnight in a country that lacks the infrastructure and technical know-how? Exactly what do you want him to do? Or are you guys blind to security agencies being successfully attacked in their very own backyard and blown to pieces?

Unfortunately, all GEJ can do is to do what we’ve always done when things get tough; seek outside help!

Someone said the US needs access to Nigeria’s agriculture and mineral resources. Some of you guys need to stop commenting! The US is a NET EXPORTER of foods, which means we have more food available than can be consumed and the surplus is sold to other countries. Here’s a link to educate yourself: http://en.wikipedia.org/wiki/Agriculture_in_the_United_States

With regards to mineral resources, I’m guessing the guy is thinking about oil. Guess what, here’s another snippet from a paper published by the International Energy Agency (IEA):

The tide turns for US energy flows

Energy developments in the United States are profound and their effect will be felt well beyond North America – and the energy sector. The recent rebound in US oil and gas production, driven by upstream technologies that are unlocking light tight oil and shale gas resources, is spurring economic activity – with less expensive gas and electricity prices giving industry a competitive edge – and steadily changing the role of North America in global energy trade. By around 2020, the United States is projected to become the largest global oil producer (overtaking Saudi Arabia until the mid-2020s) and starts to see the impact of new fuel-efficiency measures in transport. The result is a continued fall in US oil imports, to the extent that North America becomes a net oil exporter around 2030. This accelerates the switch in direction of international oil trade towards Asia, putting a focus on the security of the strategic routes that bring Middle East oil to Asian markets.

The World Energy Outlook 2012
United States, which currently imports around 20% of its total energy needs, becomes all but self-sufficient in net terms – a dramatic reversal of the trend seen in most other energy importing countries.

http://iea.org/publications/freepublications/publication/English.pdf

You should be worried about the Asians and not the Americans!

manny4life:


LOL... That's why I asked if it was a real scratch or just chalk writing. Besides, if the deductible is $500 or $1000, then the child will pay it as soon as they start working, right?

Ah, when I had an accident, and Progressive gave me rental car from enterprise, three day later, another accident, minor surface scratch $1,875... Well, it's not me that paid, insurance did. After that day, I knew scratches depends on depth are serious money makers here

LOL...when you see the itemized fixes and charges, you'll start wondering if they gave you someone else's bill!

I will be of mixed emotions but probably won't do anything ONLY because of what the kid wrote. I'll be too emotional to take it out on him! How can you whip a kid that just professed his love and how great you are?

My first inclination will be to find out if my insurance deductible is $500 or $1000. Na insurance go bear the brunt of the pain because it might take up to $2k to fix the scratch properly based on its depth.

I don't care if the house looks like a cage for dogs, which it does not, but being able to afford a house in Lekki, car(s) and his lifestyle at HIS AGE is pure success to me! There are people twice his age with more education, experience, triumphs, inheritance, family name, cache, promising career, previous political career, former ogas, etc. that cannot boast of such success.

The boy should be congratulated for not squandering away all his money like stars of yesterday!

My car does turn heads, maybe a little too much, especially when seen head-on or coming up behind you; it looks so menacing. One of the reasons I tinted my windows; I really don't like the attention as I'm forced to pretend like I didn't see the person gawking by looking away.

On the other hand, I've never seen anyone taking pictures of it; although, I've been complimented more than a few times at the stop light, gas station or when I'm outside the car.

When driving, most people do let me merge in front of them in traffic without even contesting the spot but there's a very small minority of people that will try to do whatever they can to block or cut me off. Occasionally, when I’m in the mood, I do open up the throttle and force my way in front of such people acting like a jackass, if it is safe to do so.

See as people dey manipulate news!!!! I think the jubilation is premature.

The article title and body spoke of the "possibility" of a cure and not that a cure was found!

He tested the drugs on 5 people and 7 months later 3 of them were "siro negative" and the remaining two were "slightly positive". If anybody is counting, that's a 60% success rate after 7 months on an extremely small sample size. He also started the research 2 years ago. Do you know how long it takes for a drug to be deemed safe for human consumption? Do you know why it takes so long?

What Prof. Isaiah Ibeh is actually advocating for is support from the federal government to help continue the research.

Poverty in the North is eye-opening! A sustained poverty rate like that, in the midst of perceived affluence in the rest of the country, is certain to make people revolt or become radicalized!

How can 81.2% of the population of a state, according to Nigerian standards, be deemed poor? Their past leaders need to bow their heads in shame regardless of their share in the national cake!

By Uduma Kalu

ABUJA - Sokoto State has retained its position as the poorest state in the country, with 81.2 per cent poverty rate, the National Bureau of Statistics, NBS, has said.

In a report released on its website, the NBS stated that Sokoto remained the poorest state in the country, followed by Katsina just as Adamawa and Gombe States shared the same poverty rate of 74.2 per cent.

According to the information, other states with high poverty rate include Jigawa and Plateau states with 74.1 per cent each; Ebonyi, 73.6 per cent; Bauchi, 73 per cent; Kebbi, 72 per cent and Zamfara, 70.8 per cent.

Niger, with 33.8 per cent has the lowest poverty rate in the country followed by Osun with 37.9 per cent and Ondo, 45.7 per cent.

Others with less than 50 per cent poverty rate include Bayelsa State, 47 per cent and Lagos State, 48.6 per cent.

However, the north still maintained the lead in the average poverty rate of states in the country with North-West geopolitical zone clinching the top spot at 71.4 per cent followed by North-East 69.1 per cent and North Central, 60.7 per cent.

The six states in the South-West recorded an average poverty rate of 49.8 per cent, followed by South-South, 55.5 per cent and South-East, 59.5 per cent.

According to NBS, national unemployment rate in the country stood at 23.9 per cent at the beginning of last year.

Apart from Bayelsa, Lagos State is also said to have recorded about 48.6 per cent poverty rate in 2012.

There were no figures for 2011 but the 2012 statistics represented an improvement in the figures released by the bureau for 2010.

The Statistician-General of the NBS, Dr. Yemi Kale, had said while releasing the 2010 profile that 112.519 million Nigerians, representing 69 per cent, lived in relative poverty conditions.

According to the NBS boss, the agency arrived at the 2010 figure, by collecting data from 20 million households having an average of four family members.

In 2004, Jigawa State had the highest poverty rate of 95 per cent, while Anambra, had the lowest,22 per cent.

For unemployment rate, Zamfara State had the highest rate of 42.6 per cent, followed by Bauchi, 41.4 per cent.

http://odili.net/news/source/2013/jan/7/302.html

This will be a great case to test the constitutionality of the Office of the First Lady! I think she needs one of those activist lawyers to take her case all the way to the Supreme Court, if necessary. This case can settle all the issues related to every single First Lady in Nigeria.

The issue is:

Is the Office of the First Lady recognized in the constitution, and if recognized, what are the limitations of the power wielded by said office?

Your 505 still looks very good especially considering the rate at which cars wear out on Nigerian roads! The Golf VR6 is no joke. Looking up your car specs (2,849cc 6-cylinder engine 125 kW), it seems comparable to the Golf 2.8 VR6 128 kW but I guess the VR6s are few and far between.

Question: how do you figure out the way to go during your journey? Are there highway signs for you to follow?

Just came back a couple of days ago from a trip up north

Maryland -> Delaware -> New Jersey -> New York -> Connecticut -> Massachusetts -> New Hampshire -> Vermont -> Montreal QC -> Trois Rivieres QC

850 miles (1368 km) one way which is about 14 hours with no traffic but it probably took me about 17 hours to get back due to heavy snowfall in parts of Canada and Vermont.

I'm sure there are people that will easily beat the 850 mile distance as I know some people drive from the West Coast to the East Coast (2800 miles – 40 hours no traffic). I intend on trying it someday!

I don't know o but it looks like a frog to me! Do you know Akere?


Actually, I think it is just coagulated syrup (lime?). If you were to shake it, it should disperse, hopefully!

See the master, Colin McRae, do it:

https://www.youtube.com/watch?v=BMEqOGejlrw


Here's another video but with the guy using his left foot to check the brakes for pressure before getting to a turn. You don't want to be at a 20 mph corner at over 100 mph and can't slow down.


https://www.youtube.com/watch?v=qdWSyrqEnE4

plendil:

LOL!

After reading some comments I tried it myself with an automatic, and perhaps because I drive manual quite frequently, my left leg instinctively jammed the brake pedal to to floor while the right was leg pressing the accelerator. Of course the car only jerked but refused to move.

I gave it another try forcing my left leg to let go of the brake pedal while gingerly depressing the throttle with the right. It successfully hovered over the brake before, perhaps in anticipation of an impending gear change, and mistaking it for clutch, I jammed the brake to floor again, . . .yeah, guess what happened!

I simply cannot imagine how people are able to drive normally like this.

Keep practicing but on a deserted road. The biggest hurdle you will face is calibrating your left foot not to apply too much pressure so as to bring the car to a sudden stop when you only intended to slow down.

I brake with my left foot occasionally after learning how to because of racing but when I REALLY need to stop, right foot to the rescue!

To those using both feet to drive an automatic (left – brake, right –gas), what foot do you use to apply brake in a manual car? If you say left foot, then how do you ensure that the car will not shut off when you have to come to a stop?

If you’re learning how to drive, do not try using your left foot to brake, otherwise you may end up confusing yourself. You just have way too many new things going on to be able to do the mental gymnastics required to reflexively apply the brakes.

If you think you’re a “pro” then give it a try if you want as long as you know that the situation you’re in will determine if you left-foot brake or right-foot brake.

By the way, the answer to the question above to those who left-foot brake in a manual is - left-foot brake when trying to only slow down and right-foot brake when trying to come to a stop.

xymigrator: How about the 4matic version?

All wheel drive.

Audi - Quattro
MB - 4Matic
BMW - XI, XDrive

It is not as complicated as you guys make it. As was said before, just go by what your manual says if your tires are correctly sized.

In other words, if your manual says the tire size for your car is 225/45r17 and you have that size installed, then you should be able to follow your manufacturer’s tire pressure recommendations to the T.

Keep in mind that an empty car has a different tire pressure than a fully loaded car. And that’s why you have min and max pressures.

Over-inflating your tires will cause uneven tire wear, longer stopping distances due to less tire contact, rougher handling etc.

Under-inflating tires is probably the number reason for tire blowouts. Too low a tire pressure will cause more friction and greater rolling resistance between the tires and ground, which will increase the tire temperature past its limit.

1. CLK is NOT a C-Class but is related to C class.

2. CLK is more expensive than a C class.

3. Kompressor is German for Compressor (supercharger).

4. Here's a rough model hierarchy for Benz excluding SUVs and SLs.

A Class
B-Class
C-Class
CLK-Class
E-Class
S-Class

5. Within each class, the number at the end of the model designation tells you the engine size or relative power (more power = more money). For example, CLK450 is more powerful and expensive than CLK350 when new.

6. AMG will usually cost more than the most expensive “regular” model within each class. AMG will probably cost about ~$10k-$50k more when new than the most expensive regular Benz, which in this case will be the CLK450.

For example, in 2003 MB had the following different versions of CLK:
2.0L 134 horsepower (100 kW)I4
2.0L Kompressor 189 horsepower (141 kW)I4
2.3L Kompressor 220 horsepower (160 kW)I4
3.2L 215 horsepower (160 kW) V6
4.3L 300 horsepower (220 kW) V8
5.4L 367 hp V8

Guess which one was the AMG version (most expensive)? The 5.4L 367 HP V8 = CLK 55 AMG. Which one should you buy in Nigeria? The AMG version will consume the most fuel and probably require more than average maintenance.

How much can you charge for your services? Whatever your market can bear but keep in mind that we now live in a global economy.

However, a standard 5 page website should not cost more than about $200 (NGN30k) because you can easily get a template online to modify for about $50 (NGN 8k). Better yet, you can get very talented freelancers to do the job for you for peanuts from websites like elance.com, odesk.com, etc.

There's absolutely no reason to be developing STANDARD sites from scratch! Get a template and modify it to your customer's spec. If you need templates, try templatemonsters.com, joomlart.com, rockettheme.com, gavick.com, etc.

Customization should be where you pitch your tent to earn significant money.

Find ways to work smarter and not harder so that you can be competitive in today's economy. I still find it hard to fathom why Nigerian programmers can't be competing for the same jobs as Indian programmers.

Is the person formally educated and/or has a marketable skill? How blind is the person? Some people are considered legally blind but could still see things in front of them, albeit, faintly.

The job possibilities are endless but it depends on the skills the person has to offer. For example, he could be a lawyer, teacher, analyst, business owner, customer service etc. The former Governor of New York, David Paterson, is blind.

I hear you about the fake sound but the only reason we knew about it was because they told us. By the way, they're not the only people doing it. I think Porsche is doing the same thing also. I actually think the fake sound was needed due to the great insulation provided by the cabin.

S Class is for 70 year olds.

ZIM DRILL:

i too so that episode and i knew the results before they even started

if you want to find out with out figures just switch on your car in quiet place listen while it idle then ask a friend to help you by turning the AC while you watch and listen to the engine,the moment you turn the AC the engine will increase ravs a bit and shake a bit that means the load as changed on engine

just remember AC motor is run by the engine then the blower motor also wants power from battery through altanator

Correct. Once a car starts up and is running, everything is powered by the engine directly or indirectly through the alternator.

1. In traffic, turn off the AC to save gas, which will reduce the load (work) on the engine.
2. In traffic, AC load has a greater effect on gas mileage than air drag on the car.

3. On the highway at speed, roll up your window to save gas, which will reduce drag (air resistance) on the car.
4. At speed, air resistance has a greater effect on gas than turning on the AC.

2 weeks off in addition to whatever vacation the workers normally get?

Entitled vacation + Christian holidays + Muslim holidays + govt is having a good day holiday =

Godogwu:

...Ohhh paying for a 3 bed house for 30 years is the American dream? Hahahahaahaha!....don't say rubbish old man.

You're still on this mortgage stuff? Do you think mortgages do not exist in Nigeria?

Federal Mortgage Bank of Nigeria

TERMS AND CONDITIONS FOR OBTAINING NATIONAL HOUSING FUND LOANS (NHF)
1. WHO CAN APPLY
a) Any Nigerian above the age of 18
b) Applicant must be a contributor to the National Housing Fund for a minimum
period of six months.
c) Applicant must have satisfactory evidence of regular flow of income to guarantee
loan repayment.

2. PURPOSE
a) The loan shall be for the purpose of building, purchasing, or renovating a
residential accommodation.
b) No loan shall be for refinancing.

3. HOW TO APPLY
a) Applicant is to apply through a duly licensed and accredited mortgage loan
originator (MLO) of his/her choice and not directly to Federal Mortgage Bank of
Nigeria (FMBN).
b) The MLO of the applicant’s choice must be accredited by FMBN to access the NHF
facility.
c) Application forms for NHF loans are obtainable from the MLO.

4. SECURITY FOR THE LOAN
a) The property for which the loan is sought shall serve as security for the loan.
b) The property shall conform with the existing planning laws and regulations
(approved building plan).
c) The property shall possess sufficient value to recover the loan.
d) A mortgage property shall be insured against hazards.
e) The loan shall be secured by first legal mortgage of the property between the
applicant and the mortgage loan originator and assigned to FMBN.

5. HOW MUCH TO APPLY FOR
a) A borrower is entitled to a maximum loan of fifteen million naira (N15,
000,000.00) or as determined by the Bank.
b) No individual should be given a loan in excess of 90% of the cost or value of
the property to be mortgaged.
c) Equity contribution based on the new loan amounts is as follows:
 N15,000,000.00 – 30%
 N10,000,000.00 - 20%
 N5,000,000.00 - 10%

6. INTEREST RATE
a) Interest rate shall be as prescribed by the National Housing Fund Act which is
not more than 6% p.a.

7. HOW TO REPAY
b) The maximum repayment period shall be 30 years.
c) Individual borrower shall make repayment through the mortgage loan
originator through which they obtained the loan.
For further enquiries please contact Federal Mortgage Bank of Nigeria, Plot 266
Cadastral AO CBD, Abuja Or any of our state offices nearest to you.

http://www.fmbn.gov.ng/vault/nhftermsandconditions.pdf


Here's another from GTB
http://gtbank.com/personalbanking/products/loans/gtmortgage

GTMortgage
GTMortgage offers credit facilities to customers whose salaries or business proceeds are domiciled with us to part-finance the acquisition of residential property in selected cities within the country.

Location: Lagos, Abuja, Port Harcourt and all state capital
Facility Amount: N 5,000,000. 00 (Minimum) to N 150,000,000.00 (Maximum) (Subject to Bank's approved location)
Equity Contribution: 20% (Minimum)
Tenor: 1 to 20 Years (Subject to whichever is shorter; 20 years or number of years to retirement. Retirement age is fixed at 55)
Repayment: Equal monthly repayment comprising principal & Interest.
Monthly repayment shall not exceed 35% of net monthly
Support/Comfort: Legal mortgage over the property to be acquired or on an alternative property
Insurance (Fire and Special Peril)

Actually, I don't think the result is that bad as it doesn't yet require medication but you should watch what you eat because you probably have mild stage hypertension. I think stress made your result jump higher the second time around but your first result was still high. The first time might have been exacerbated by caffeine, lack of sleep, foods etc.

Mild Stage
140-160 / 90-100 mmHg

Moderate stage
160-180 / 100-110

Severe stage
180-210 / 110-120

You don die but still walking stage
210-230 / 120-140

*Disclaimer - I no be doctor o... you should be talking to a doctor.

ngozievergreen:
come to eastern 9ja. Lets start with Orji Uzor bfr he re-entered sch n joined politics.

I surely have no doubt that such people do exist but they're few and far between; however, I can't speak to Kalu's wealth in particular. I think I read an article awhile ago that said he got his start from commodities just like Dangote?

AjanleKoko:

Seems like most people want their kids to be rich
A bit ironic, considering that we also want to be rich. I'm just wondering, since the likes of Gates and Zuckerberg are already really rich, would they need to lean on their kids, push them in any particular direction?

I want my kid to be comfortable and to be able to stand toe-to-toe with anybody. Have you ever been in the midst of old friends and the conversation gets weird when career/achievements got brought up? I've seen it happen to people and it’s not a pretty sight. I actually refuse to talk about certain things with some of my friends because it would seem like I’m bragging or trying to show off.

Most super rich people actually try to instill hard work into their kids. Bill Gates is on record that each of his kids will only inherit about $10 million from him. He said "he'll pay for education and health issues, but his children are expected to find careers and support themselves while making a contribution to society."

Read more: http://www.bankrate.com/financing/wealth/what-will-gates-children-inherit/#ixzz2FWuzDTyk

C. whyte:


mark zuckerburg
bill gates
Steve jobs

this guys didnt finish school and yet very successful at what they do.

allow your child to decide his future after the basic education

Zuckerburg dropped out of Harvard while studying computer science.
Bill gates dropped out of Harvard but didn't have a definite plan. However, he spent a lot of time on computers even developing an algorithm.
Steve Jobs dropped out of college but was a tinkerer.

Almost every single college drop out that made billions without the govt was technically an "engineer". Why don't you show me an example of a self-made no-government-intervention college drop out billionaire?

MB is actually moving in the right direction but they're more of a follower than a leader! The E class, M class, and GL all got better but that's way after they were initially bungled especially the M class. I think they’ve also realized that they're no longer the preferred brand because some of their newer vehicles actually got cheaper when compared to the older ones that got replaced.

It is getting really hard to see a segment which MB will emerge as the preferred class leader.
C class is too plasticky when compared to 3 series and Audi A4. I really like the CLS63 but would rather own F10 M5. I also like the SLS but would prefer to own a lambo for the asking price. GL is about the only class which they shine because no other premium brand has a full size 7 seater SUV.