₦airaland Forum

Philip Hollobone, MP for Kettering, was accused by Muslim groups of "failing in his duty" as MP.
Mr Hollobone is trying to bring in a Private Member's Bill to ban women wearing the burka or niqab in public.

He said he "took the view" that since a constituent was able to see his face he should be able to see theirs.
He argued that he would not be able to satisfy himself of the identity of a person without being able to do so.

Mr Hollobone said that he would "invite" anyone who did not wish to remove their veil to communicate with him in a "different way", such as by letter, rather than face to face.
He said that the burka or niqab was not a religious requirement and that the majority of Muslim women dressed in a way in which their face was visible.

Following France's recent decision to ban the burka in public Mr Hollobone said he hoped that other European nations would "sit up and take notice".

Ibime:
4Play: M2 growth could cause inflation (rise in price) or changes in velocity and vice-versa, rather than GDP growth.

Paddylo: Growth in M2, given stable exchange rate, indicates GDP growth.  

So in other words, you are saying that Paddylo's argument filters down to:


Paddylo: Stable exchange rate nuances the effect of inflation on GDP growth.

Ibime:
Una still dey here dey argue?

I think both of y'all should be magnanimous enough to concede that both arguments have merit. You are simply arguing over 2 of the 4 variables of the equation of exchange.

This argument is just going round in circles:

Paddylo: We can extrapolate GDP from Money Supply.
4Play: We cannot extrapolate GDP from Money supply. . . . unless we also know the Velocity of Money and Price (inflation).

I think both of y'all are just agreeing with each other. . . . but making an argument out of it! 

Beaf:
Waiter, please bring one more sit to the house! Abeg, chill wit dat odeku dia.
There is indeed a lot of value in the ongoing arguement. We keep hearing figures that don't seem to make sense or translate into benefits on the street, maybe we can actually get a feel for where the money is, if there is actually truth in the tremendous growth figures being bandied about or if the growth is strictly tied to oil; so benefits might only be felt by foreign oil companies, far from our shores.
Does agriculture actually provide 42% of our GDP? Is that possible? Where do we get our figures when we have no institutions or reliable statistics in the country? So many questions. . . The BBC-CNN references will help dissolve the "grammatic" aura around the science used to sell us these figures. In Warri parlance, "niked de question" (strip the question unclothed).

chamber2:
4 Play

I never said u should take d stat 4rm FG without a pinch of salt.We r saying d same thing here,how reliable r these figures?dats it.

chamber2:
Also,our understanding of how well d economy is doing r frequently influenced/dominated by d yearly fluctuations in economic activities.The question we should ask is,what determines growth?what is d role of capital accumulation and technological progress to growth.If we can provide answers to these issues then we r making progress.

what can we say of FDI since d 1st Q?what can we really say of credit availability?Those who live in Nigeria will tell u clearly that there is no evidence of growth.That is also where I v problems with d GDP as a true measure of growth.

From the BBC. . .The fact that u keep on mentioning Nigeria in the same breath as zimbabwe(laughable) shows u have no credibility and are grasping for straws

and yea the contraction in USA money supply and credit growth denotes the steep contraction in GDP we saw for 4 straight quarters up till 3q 2009

The stock of money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6pc. The assets of insitutional money market funds fell at a 37pc rate, the sharpest drop ever.

"It’s frightening," said Professor Tim Congdon from International Monetary Research. "The plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly," he said.

Lagos — The National Bureau of Statistics (NBS) Wednesday revealed that Nigeria's Gross Domestic Product (GDP) for the first quarter of this year grew by 7.23 percent with the Nominal GDP with non-oil sector being the major driver of growth.

The NBS in its 2010 first quarter report on the Nation's GDP and endorsed by the Statistician-General of the Federation, Dr. Vincent Akinyosoye, revealed that the non-oil sector played a dominant role in the real GDP with growth rate of 8.15 as against the previous quarter.

"On an aggregate basis, the economy when measured by the Real Gross Domestic Product (GDP), grew by 7.23 percent in the first quarter of 2010 as against 4.50 percent in the corresponding quarter of the previous year.

"The 2.73 percentage point increase in Real GDP growth observed in the first quarter of 2010 was accounted for by the increase in production in the oil sector of the economy. The nominal GDP for the first quarter of 2010 was estimated at 6,399,716.09 million naira as against the 5,404,850.00 million naira during the corresponding quarter of 2009, thus, indicating an increase of 994,866.09 million naira," the NSS report read in part.

Stating that the oil sector plays a pivotal role in the Nigerian economy as a dominant source of revenue period NBS disclosed that the sector witnessed increased production within the period under review than in the corresponding quarter of 2009.

It cited that about 202,358,601 barrels of crude oil and condensates were estimated for the first quarter of 2010 with an average daily production of 2.25 million barrels per day compared with the 184,661,774 barrels produced within the first quarter of 2009 with a corresponding average daily production of 2.05 million barrels per day.

The NBS explained that the observed increase contribution of oil to the GDP was attributable to the improvement in output, which could be traced to the various interventions by government in the peace process in the oil producing regions.

"The Oil sector contributed about 18.70 percent to real GDP in the first quarter 2009, while the contribution in first quarter of 2010 was however 18.00 percent. The Non-oil sector continued to be a major driver of the economy in the first quarter of 2010 when compared with the corresponding quarter of 2009.

"The sector recorded 8.15 percent growth in real terms in the first quarter of 2010 compared with 7.90 percent achieved a year ago. The Nonoil sector experienced a declining growth in the first quarter of 2010 when compared with the preceding quarter of 2009" the read further observed.


On the subsectors of the non-oil sector of the economy, the NBS noted that during the first quarter of 2010, the manufacturing activities decreased relative to the same period in 2009 as it recorded a decline in growth rate from 7.03 percent in 2009 to 6.43 percent in 2010.

It attributed the development to the low manufacturing activities usually recorded in the first quarter after the festivities in the last quarter of the previous year, poor electric power supply, and inability to access credit from banks arising from the credit crisis in the banking sector.

The Telecommunications sector continued to perform impressively and has remained one of the major drivers of growth in the Nigerian economy.

The report pointed that following intensive marketing strategies and value added services by telecommunication companies in Nigeria, the sector recorded a real GDP growth of 32.54 percent in the first quarter of 2010 compared with 31.75 percent recorded in the corresponding period of 2009.

THE proposed national minimum wage may develop hiccup in states, as they lack the resources to pay their workers.

Also, the states have rejected the unilateral action taken by the Federal Government on the issue.

The Nigerian Tribune gathered that since the Federal Government began actions on the issue, neither the president nor the agencies involved in the new minimum wage deemed it fit to carry the states along

According to the Nigerian Tribune findings, the national minimum wage is a time bomb that will soon explode in states, as many states do not have the resources to pay the minimum wage.

Some state finance commissioners, who spoke with the Nigerian Tribune on the issue, said states would definitely have problems meeting the national minimum wage obligation as statutory allocations accruing to states and local government were decreasing on a monthly basis due to the declining price of oil in the international market.

They said the issue of 27. per cent teachers enhancement package was already creating chaos in some states, adding that the national minimum wage load would definitely ignite the not-too-stable polity.

A pointer to this was the long drawn closed door debate on how the states would get the resources to pay the new wage minutes after the issues of statutory allocations had been deliberated upon at the just concluded meeting of the Federation Account Allocation Committee, FAAC, in Abuja

honeric01:
Per year ke? it was suppose to be per month ooh.

snowdrops:
its a shame that [as far as i know] none of the reps. have email adddress for use by their constituensies or a website. No telephone numbers to their offices.

Surely in the 21st century you would think that is a basic minimum to facilitate communication.

Oh well, i am sure their real constituencies which are the godfathers and party thugs have direct contact to them.

Even the profile pages of the reps on the NASS website has no contact details. Shame.