₦airaland Forum

ajepako:
I have come to notice that Boko Haram attacks become fiercer and more brazen when Buhari is out of the country and Osinbajo is acting as president..

Is it just me or my imagination that is is a calculated move to discredit a southern Christian?

Let's hope I am wrong sha ...

cjrane:
This is very very sad.
Nigeria army are just untrained brutes.
Why attack BH when they have civilian hostages? What result were they expecting to get?

YelloweWest:
While we here traded competence for foolishness on the ground of fighting corruption.
There is no comparison between this woman and adeosu

wristbangle:
Ah if the interest rate is 16%, do you want to kill people from losing interest to invest?

voiceoftheupcom:
CITING ECONOMIC HEADWINDS, CBN HOLDS INTEREST RATE AT 14%
Source : http://www.eyesoflagos.com/2017/07/citing-economic-headwinds-cbn-holds.html

Nigeria is operating a-year-old regime of high official interest rate at 14 per cent (since July 2016), with double digit inflation rate of 16.1 per cent.
The monetary authority has consistently rebuked advice from some international organisations like the IMF to further tighten the interest rate to attract foreign investments.
Many, including the Minister of Finance, Mrs Kemi Adeosun, had asked the MPC to lower the interest rate in order to enable government access more loans domestically without expanding its debt servicing costs.

wristbangle:
U mean is too high?

APCLyingBastard:
Banks are lending at 30% for mere consumer loans and the short term commercial loans are going for as high as 35%!

Tell me, which economy can grow in this environment?

During the US recession years, the Feds reduced interest rates to 0% in order to shore up liquidity and that helped to pump cash flows to SMEs as well as help bailout big companies.

Nigeria is being run by idiots.

deeone10:
im beginning to feel that first class is easy outside Nigeria

More UK universities and colleges are awarding the top grade to students, figures show. One-third of UK universities and colleges awarded a first for 25% of degrees granted in 2015-16 – four times as many as in 2010-11. We asked students and academics about why they think this is. Here are a selection of your responses.

Ali, 45, a humanities lecturer from the south of England: Pressure mean academics err on the side of generosity. There is intense pressure on academics from university management to gain high scores in the National Student Survey, because this feeds into university league tables. Added to this, there is an increasing expectation among students, who pay £9,000 per year. They feel they should receive high results for their degrees because they pay so much for them. Students obsess about gaining a first-class degree. In many cases they are more focused on the grade than upon the actual subject that they are studying and this sabotages their results. Their view of higher education has become instrumentalised; many see it exclusively as a path to employment and they forget to take an interest in and enjoy the subject that they are studying.

JasonScolari:
It has been victory for the PDP this month and that's how it's going to be come 2019.......




God bless the PDP..........




God bless Chief James Onanefe Ibori.



God bless Nyesom Wike.



God bless the Niger Delta Republic.

vingeophysicist:
rubbish no evidence.party politics!!!

Xeedorf:
Can you see how names influence Oga LIE destinies.
Lie continue till.....

Nominative determinism is the hypothesis that people tend to gravitate towards areas of work that fit their names.

ESDKING:
Leadership is not all about going to Abuja to get corrupted like those you perceive as Igbo leaders. Leadership is all about influence

Airforce1:
We respect our leaders /elders

ExAngel007:
sir, immorality is found everwhere.

Afam4eva:
I just can't imaging the lies that have pervaded this tread. Everyone just keeps lying about some phantom experiences about buying lands in Igboland.

First you have to makeup your mind about your lie. First, you say there's nothing attractive about investing in Igboland and then you turn around and say that they have refused to sell land to you. If there's nothing in Igboland, why then do you want to buy land. Are you building an orphanage?

The truth remains that among the big 3 ethnic groups, it's mainly the Igbos and Hausa/Fulani that invest wherever they go as long as they have the resources to do so. There are thousands of Igbo investments for example in Lagos and thousands in the north.

Yes, SOME Yorubas (I mean some) have some investments outside Yorubaland and outside the capital of Abuja but these investments you can count and i'm not talking about companies such as GLOBACOM and co. I'm talking about small and medium size enterprises. In port-hacourt where i grew up partly, there were loads of Yorubas working in SHELL and most of them did not have their own house in port-hacourt. They stayed in the accomodation provided by shell (Shell camp) at Rumukrushi while some of them rented houses. As soon as they were done with their jobs, off they went to wherever they came from with no recourse to give back to the community or something. And this is port-hacourt, the 3rd most important city we're talking about here. If they can't invest massively in PH while then will they invest in the south-east? I think it's better to argue that the south-east is not viable, atleast to you than to use the cloak of indegenes not selling lands to you. It's a vwery weak argument and like some people have said, if the south-east is not welcoming to strangers. How about the south-south or middle belt? How many houses or investments do you have in places like Calabar, Uyo, Asaba, Warri and co? The very few Yorubas that have houses in the south-east how did they get their own land if Igbos don't sell lands to outsiders. On one side, you say Igbo like money too much, on another part you say someone that likes money sees your money and rejects it because you're not Igbo. Like i said, stick to one lie.

masonkz:
But then what sense does it make for a bank to issue Eurobonds to repay their debt? Eurobonds still come with its own interest repayment, hence they'll not only be repaying on past loans but also on the new lonas. Seeing the state of Nigeria currently, I'm sure such funds will come at a high rate to the banks.

The raised funds better be for something else.

dominique:
It's been long since I saw the St. Louis brand in the markets. Its better it remains banned. The last time I used it, its quality had reduced. I had to put up to four cubes in a mug of tea before I could taste it. Is that one a sugar?
When we develop our local products, foreign companies will come to realize that Nigeria is no longer a dumping ground for their inferior products.

SeniorZato:
How far about the signed budget

While many students have just graduated from high school, 18-year-old Nigeria native Nkechinyere Chidi-Ogbolu is not your typical teen.

Chidi-Ogbolu just graduated summa cum laude from Howard University with a degree in chemical engineering — making her the youngest person to graduate from Howard this year, and one of the youngest in Howard’s history.

But that’s not all for Chidi-Ogbolu.

She’s now preparing to start a Ph.D. program at the University of California-Davis after the summer ends. She’ll be studying biomedical engineering with a focus on creating and discovering new medicines.

“I’ve always been interested in the medical field,” she told USA TODAY College. “But I want to have a broader scale of impact than in treating patients one-on-one.”

Chidi-Ogbolu said she’s always been the youngest person in her classes. While most students from Nigeria graduate high school at the age of 16, Chidi-Ogbolu finished high school particularly early, at 14, since she skipped 5th grade and attended an accelerated high school.

After high school, she left Nigeria for America and enrolled full-time at Howard University, a historically black university and her first-choice school.

9jakohai:
No....just to show both of them have the same issue...reliance on one resource....which in South Africa's case is its diamonds and platinum.(I.e...both are badly managed).

South Africa does have a viable industrial sector...but thanks to years of arphateid...there aren't enough black technicians to man the industries.(And its steel industry has lost out to cheap steel from China).

Then add corruption (Jacob Zuma has a lot of cases on his head) and an economy based on sharing money in the name of welfare....and you get the picture.

The leader of the Opposition Democratic Alliance was talking about diversificaiton a few months ago...which shows you what's up.

The Federal Government of Nigeria’s fiscal deficit ran at a 12-month high in the month of February, according to data provided by the Central Bank, as actual revenues flunked budget targets and officials overshot spending.

At N404.9 billion in February, the deficit is almost four times the monthly provisional budget estimate of N185 billion, with the government amassing debt at a frantic pace to shore up ailing revenues.

Retained revenue came to 58 percent of the budget estimate, at N194 billion, as opposed to N337 billion, while total expenditure was N599 billion, 14.7 percent more than the budgeted N522 billion for the said month.

The biggest shortfall came from non-oil gross revenues, which flunked estimates by nearly 50 percent, the CBN monthly report showed.

Pressed to spend its way out of an economic slump, the first such slump in over two decades, Nigerian lawmakers approved a 2017 spending plan of N7.4 trillion in May. The budget has a N2.36 trillion deficit to be plugged through borrowing.

The government has now missed revenue targets for the second month running, after January actual revenues turned out 50 percent less than planned.

To implement the budget, disappointing revenues will cause government to borrow more than planned and some capital expenditure may suffer, according to Pabina Yinkere, head of institutional business at Lagos-based Vetiva Capital. The International Monetary Fund (IMF) estimates that the 2017 budget deficit will hit 3.7 percent of GDP from 2.8 percent last year.

“In the first quarter, government sold bonds at record pace to make up for the shortfall,” Yinkere observed.

The Debt Management Office (DMO) raised N750 billion in bonds in the last five months, according to data compiled by BusinessDay. At its last auction of FGN bonds, however, it struggled to raise the total amount it wanted, as investors looked away in search for higher yields.

“More attractive returns are available for almost all NTBs,” said Gregory Kronsten, head of fixed income research at FBN Quest.

“Additionally, the step-up in fx interventions by the CBN since March, has reduced banks’ free funds to invest in debt markets,” Kronsten said by email.

The DMO sought to raise N140 billion but managed just N105 billion. For the three-year benchmark (Jul ‘21s) it collected N10 billion, rather than its target of N40 billion.

“Such is the DMO’s determination to contain the FGN’s borrowing costs,” Kronsten said. “Its successful front-loading of issuance in the first quarter has given it some welcome room for manoeuvre.”

Various analysts, and more recently, the World Bank, have expressed concerns over Nigeria’s debt profile, citing the inadequacy of current revenues to sustain interest rate payments. At the recent IMF/World Bank Spring Meetings in Washington, Catherine Pattillo, Assistant Director and Head of Fiscal Policy and Surveillance Division of the IMF, pointed out that Nigeria’s interest payment to tax revenue has more than doubled to 66 percent.