DexterousOne:


Thank you very much for the bolded....

Do we even need a "national grid"?
There are other pertinent questions we need to ask

There is so much that needs to be done
This govt and the one before it are just not serious enough in my assessment

And the masses dont help matters either

Serious reform is needed

Power, transport and other infrastructure

Then education and healthcare

am.not in support of National grid but is was built by the military and here unitary systems ...i prefer smaller off grids which pmb/fashola was doing but very costly.....aba ,arira ,sabo gari market in kano are currently off grid and using solar grid to power the markets like wise bayero university,unlag and Abu currentky have 24 hours off grid solution done by fashola and pmb .....but the cost is crazy .

Nigsrdumb:


Your recent arguments are spot on.

The government isn't doing enough ( buhari is not solely to be blamed)

The tax base should be expanded

Reform is needed, both values and an industrial policy.

Others areas of interest ..  innovation ....

robotics , artificial intelligence , internet of things

Agriculture, education, value addition, industries, utilisation of natural resources

Hygienic politics

Decolonised mind

Of utmost importance is data and how to boost productivity.

A key point you mentioned that I missed

A decolonised mind

Sholapey:
I humbly say thank you for your good customer service @emmasoft keep the flag flying No complaints!

What type of investment do you have with them? I'm kinda considering the vgif.

Akin3891:


What type of investment do you have with them? I'm kinda considering the vgif.

Vgif.

emmanuelewumi:



There are professional advisers to the deal, I guess both parties are in court.

Banwo Ighodalo a foremost corporate law firm was the legal adviser to George in the business transaction, they should have advised her better. I wonder why they are not representing her in the current imbroglio

To be honest, I don’t see what the PE firm has done wrong. They entered into an investment agreement and shareholders agreement with terms clearly stated and she agreed to the terms. This is the standard agreement entered into with PE firms that take a majority stake in businesses. With majority, they have every right to remove the CEO if they believe the current CEO is not the right person to help them achieve their goals.

Mind you, she still stands to make a lot of money if another CEO comes in and steers the company in the right direction where it becomes attractive for a strategic buyer (or an IPO) in the future.

Lazyyouth4u:

To be honest, I don’t see what the PE firm has done wrong. They entered into an investment agreement and shareholders agreement with terms clearly stated and she agreed to the terms. This is the standard agreement entered into with PE firms that take a majority stake in businesses. With majority, they have every right to remove the CEO if they believe the current CEO is not the right person to help them achieve their goals.

Mind you, she still stands to make a lot of money if another CEO comes in and steers the company in the right direction where it becomes attractive for a strategic buyer (or an IPO) in the future.

Lawyers will eat sha, I doubt if she has a good case.


Her legal adviser to the deal might have advised her not to go for litigation, I see no no reason why they are not the one representing her in the current brouhaha

DexterousOne:
Nowhere in this world will you have a pseudo economic meltdown
And the govt idea of getting out of it
Is to tax the existing tax base to death

I'm all for more responsibility when it comes to Taxation
As it seems Nigerians generally are aloof and irresponsible when it comes to taxes


But not this route

But hey, they have done what they want to do

It's the mitigation we should think of

You keep talking about taxing to death. Please explain with facts and figures how that is?

Because what is common knowledge is that CIT has only be reduced to a graduated scale of between 0% and 30% unlike before when it was 30% for everyone. it's now 0% for some people and 20 or 25% for others. Only large firms still pay the old 30%. That's still not an increase.

Ahib said taxable entities have increased from around 6m in the past to around 18m now. You said it's not increasing tax base, how is it not sir?

The NIP/NEFT transfers and over the counter deposits should have a volume of around 20m daily or say 500m monthly. There're still POS transactions too, so I think the 50bn monthly figure Ahib stated is realistic. That's 600bn annually. It's a duty paid by lots of nigerians. How is that not expanding the tax base.

I do agree with your suggestions on private sector involvement though, but you should realize that sometimes talk is quite cheap, and since you've heard that these things are even already being done-the concession and increased tax revenue- you should actually go easy with your criticism on the president.

You don't have to like him, but rather than criticize, you'd help us more if you thought of things you can do on your own. Maybe develop a covid vaccine and get billions of dollars that you can sell to the CBN at 300, or anything else that'll contribute to eliminating our dependence on oil for forex.

Also, I don't think it's exactly necessary to think your line of work gives you any special insights into the running of the country. Maybe, maybe not. But I don't think you should overemphasize.

Plus saying the president's report card comes to your desk. I'm forced to ask "as who?". I mean if he is the commander in chief, what would that make someone who gets his report card?

Anyways, realize that for you to be born a Nigerian, you probably have a role to play to make life better for the people. So it shouldn't just be about complaints and eloping.

I will do agric to earn forex, contribute my quota towards stabilizing the economy. What will you do?

The World Bank said on Thursday that the removal of petrol subsidy in Nigeria was an important step amid the COVID-19 crisis.

The bank, in its ‘Africa’s Pulse’ report entitled ‘Charting the road to recovery’, said countries in sub-Saharan Africa were seizing the opportunity created by the crisis to accelerate the structural reform agenda.

“The COVID-19 crisis is not being wasted among countries in the region… In Nigeria, the government has taken important steps to reform its subsidy regime,” it said.

The World Bank noted that the Nigerian government had eliminated petrol subsidy and established a market-based pricing mechanism with no price ceilings.

It said “The gasoline (petrol) price is set monthly by the Petroleum Products Pricing Regulatory Agency from market-based costs.

“When international petroleum product prices start to recover, the PPPRA will allow price increases accordingly.”

The PUNCH had reported on September 8 that the Federal Government’s removal of petrol subsidy and the increase in electricity tariff were in line with reforms being sought by the International Monetary Fund and the World Bank.

In a report on August 17, Reuters quoted sources as saying that the World Bank was unlikely to approve a much-needed $1.5bn for Nigeria in August as planned due to concerns over desired reforms.

Reuters said fuel subsidies and electricity tariffs were also being discussed, adding that a banking source said the loan could not be approved until October.

The World Bank projected on Thursday that sub-Sahara Africa’s real GDP would contract by 3.3 per cent this year, after expanding by 2.4 per cent in 2019.
It said, “In Nigeria, after expanding 1.9 per cent year-on-year in 2020 Q1, real GDP contracted by 6.1 year-on-year in 2020 Q2, with growth in the oil and non-oil sectors falling.

“The near-term outlook is subject to considerable uncertainty as the economy continues to grapple with the effects of the pandemic.”

The report said activity data suggested that the rebound in activity that started in Q3 2020 might have stalled.

“Investment remains weak amid high uncertainty. Growth is projected to fall by 4.1 per cent in 2020 and remain subdued at 0.3 per cent in 2021,” it added.

According to the World Bank, although Nigeria’s public debt level is projected to rise, it is expected to remain below 30 per cent

About this power issue, is it not possible for a state government to purchase it's distribution network from the disco incharge of the state. For example, Delta state can purchase the Delta distribution network from BEDC. These discos are making heavy losses, so I'm sure they'll be willing to sell such assets if the price is right.

Then the state in collaboration with the private sector builds power plants capable of powering the entire state, and then connects these plants directly to the state distribution network they already own, bypassing the national grid.

The same way you have IPPs like Geometric supplying constant power directly to a particular location (usually industrial areas), just that this time, the IPP will supply directly to the entire state's ring-fenced distribution network, instead of just one or two industrial estates.

Same applies to seaports. There is no law that says states cannot build or own seaports in collaboration with the private sector, just like Lagos is currently doing with the Lekki Port and Akwa Ibom with Ibom Deep SeaPort.

Speaking of state governments, now that buhari is constructing railways across the nation, isn't it time for state governments to start constructing their own inner state railways to connect their capital cities, major populations centers, and major industrial areas to the federal government's railways.

In my view, the federal government is the best arm of government in Nigeria. The state and local governments are the worst, laziest arms of government, in fact, they are one of the biggest problems of Nigeria. If they could do their jobs more efficiently, Nigeria will be much better off. Imagine Bayelsa state, as small as it is, it receives allocations more than some entire geopolitical zones, yet it can't build good schools or good hospitals.

The hospital in your locality is bad, you shout buhari.
The school in your locality is bad, you shout buhari.
No library in your locality, you shout buhari.
No pipebourne water, you shout buhari.

Are these not the functions of your state governors and local government chairmen? When are you going to hold them accountable too? Everything is not buhari. Do you know your local government chairman's name? Ordinary library, local government can't build, you'll see them blaming buhari.

See ehn, any serious state governor can turn his/her state into a small abroad in Nigeria, with constant electricity, pipebourne water, good schools, good healthcare system etc. 85% of VAT goes to them, all income taxes (which usually forms the bulk of government revenue around the world, just that states are too lazy to collect then in Nigeria) goes to them. They can make laws in their states through their houses of assembly. What more do they need?

ultron12345:
About this power issue, is it not possible for a state government to purchase it's distribution network from the disco incharge of the state. For example, Delta state can purchase the Delta distribution network from BEDC. These discos are making heavy losses, so I'm sure they'll be willing to sell such assets if the price is right.

Then the state in collaboration with the private sector builds power plants capable of powering the entire state, and then connects these plants directly to the state distribution network they already own, bypassing the national grid.

The same way you have IPPs like Geometric supplying constant power directly to a particular location (usually industrial areas), just that this time, the IPP will supply directly to the entire state's ring-fenced distribution network, instead of just one or two industrial estates.

This is an excellent idea, and I have wondered why this is not being done. I remember something about Jonathan's government shooting down such a proposal by Fashola then (true?), something based on the federal govt's primacy in the grid matters, not very sure, and if so, why is this not being implemented now that the kleptocrats at national level and those at state level are all from the same party?

awesomeJ:


You keep talking about taxing to death. Please explain with facts and figures how that is?

Because what is common knowledge is that CIT has only be reduced to a graduated scale of between 0% and 30% unlike before when it was 30% for everyone. it's now 0% for some people and 20 or 25% for others. Only large firms still pay the old 30%. That's still not an increase.

Ahib said taxable entities have increased from around 6m in the past to around 18m now. You said it's not increasing tax base, how is it not sir?

The NIP/NEFT transfers and over the counter deposits should have a volume of around 20m daily or say 500m monthly. There're still POS transactions too, so I think the 50bn monthly figure Ahib stated is realistic. That's 600bn annually. It's a duty paid by lots of nigerians. How is that not expanding the tax base.

I do agree with your suggestions on private sector involvement though, but you should realize that sometimes talk is quite cheap, and since you've heard that these things are even already being done-the concession and increased tax revenue- you should actually go easy with your criticism on the president.

You don't have to like him, but rather than criticize, you'd help us more if you thought of things you can do on your own. Maybe develop a covid vaccine and get billions of dollars that you can sell to the CBN at 300, or anything else that'll contribute to eliminating our dependence on oil for forex.

Also, I don't think it's exactly necessary to think your line of work gives you any special insights into the running of the country. Maybe, maybe not. But I don't think you should overemphasize.

Plus saying the president's report card comes to your desk. I'm forced to ask "as who?". I mean if he is the commander in chief, what would that make someone who gets his report card?

Anyways, realize that for you to be born a Nigerian, you probably have a role to play to make life better for the people. So it shouldn't just be about complaints and eloping.

I will do agric to earn forex, contribute my quota towards stabilizing the economy. What will you do?

Okay
I don hear you.


Nigeria deserves a better president than this buffon we have, hence I cant go easy on the criticism
I stand by that.

Hopefully someone sensible and sound succeeds him after this term of his is over.

As for the emphasis on the line of work
I'll omit that going forward
Looking back in retrospect
I think you are right, it was not imperative I mention it.

At the end of the day
Despite what we think
I think one thing we all want is a better country
I think that's the common goal

And I know 100% that this man in Aso rock is not fit to give us that......

That said
It was a pleasure reading all the comments

Peace

Cyberknight:


This is an excellent idea, and I have wondered why this is not being done. I remember something about Jonathan's government shooting down such a proposal by Fashola then (true?), something based on the federal govt's primacy in the grid matters, not very sure, and if so, why is this not being implemented now that the kleptocrats at national level and those at state level are all from the same party?

It still boils down to that "exclusive list" matter.

The only way Nigeria can have sustainable energy is when the private sector takes the front seat in the affairs of energy

Even if the rates are more expensive
I'm willing to bet

That overall
It will be cheaper to have electricity at market rates (competitive btw because there will be options) than to be paying crazy estimated billing plus buying petrol for gen, plus servicing the gen plus engine oil and plug spanner and noise pollution...


Tho the generator mafia may not like it sha

DexterousOne:



Okay
I don hear you.


Nigeria deserves a better president than this buffon we have, hence I cant go easy on the criticism
I stand by that.

Hopefully someone sensible and sound succeeds him after this term of his is over.

As for the emphasis on the line of work
I'll omit that going forward
Looking back in retrospect
I think you are right, it was not imperative I mention it.

At the end of the day
Despite what we think
I think one thing we all want is a better country
I think that's the common goal

And I know 100% that this man in Aso rock is not fit to give us that......

That said
It was a pleasure reading all the comments

Peace

I Respect some of the ideas you've churn out here.

But,

the way you're easy to call the President uncouth names makes one to see you as a Bigot.

Learn to Give him credits when you should.

If the President can get a Hold on the the Security issues of the country, He will become the Best GCFR We've had so far.

#MyTake

DexterousOne:



Okay
I don hear you.


Nigeria deserves a better president than this buffon we have, hence I cant go easy on the criticism
I stand by that.

Hopefully someone sensible and sound succeeds him after this term of his is over.

As for the emphasis on the line of work
I'll omit that going forward
Looking back in retrospect
I think you are right, it was not imperative I mention it.

At the end of the day
Despite what we think
I think one thing we all want is a better country
I think that's the common goal

And I know 100% that this man in Aso rock is not fit to give us that......

That said
It was a pleasure reading all the comments

Peace

I expected a harsh reply from you.

Thanks for being mature.

https://nairametrics.com/2020/10/09/fg-approves-the-establishment-of-shoe-garment-and-leather-processing-factories-worth-n5-08-billion/

This article says the minister of interior has a proposal for a PPP that'll make footwear and uniforms for the Nigerian customs service locally, maybe the Immigration service too.

They're bringing in Chinese as technical partners.

about 1300 direct jobs, and some forex savings too.

emmanuelewumi:



Lawyers will eat sha, I doubt if she has a good case.


Her legal adviser to the deal might have advised her not to go for litigation, I see no no reason why they are not the one representing her in the current brouhaha

Of course she’s just giving lawyers food to eat because she can never win. I’m sure there’s an arbitration clause in the contract and it certainly won’t be in Naija.

What she’s doing is what will keep strategic buyers away from her company. Nobody wants to deal with a local partner that will end up taking them to the local courts when things don’t work out for the local partner. Even Steve Jobs was kicked out from his own company, Apple, in the 80s and he took it in good faith. Happens to entrepreneurs all the time. You need the investor or bank’s money, then be prepared to dance to their tune! You can’t eat your cake and have it.

Seems this digital agriculture party will soon be over...

As people are struggling to get their money back from quite a number of them are struggling to pay up, and Leadway Assurance have denied them

I remember sir Emmanuelewumi warned about it

Now look at the mess.

I never really understood the business model though

boolee:
I Respect some of the ideas you've churn out here.

But,

the way you're easy to call the President uncouth names makes one to see you as a Bigot.

Learn to Give him credits when you should.

If the President can get a Hold on the the Security issues of the country, He will become the Best GCFR We've had so far.

#MyTake

Thank GOD you said "IF" the president can get a hold on the security issues of the country he will be the best...

until he can achieve the above, he has failed in his primary responsibility, which is protection of lives and properties..

Any other achievements you feel he has accomplished is secondary!

Thisnut:
60 people die in cult war in akwa ibom state as we speak . What does those guys who frequently point out every killing in the United States have to say about this? Is Nigeria really that safe?

Gas explosion every now an then in lagos. The casualties can be well reduced if the EPA move all the gas plants far from people's residents.

Inter states travel within Nigeria is the most scary thing after boko haram in Nigeria. If you don't get caught by the x men, you get caught by the bad roads causing unnecessary accidents.

For cult related issues, its self inflicted and deserve no pity. Industrial accident, I think nigeria even has a lesser case, how many industry do we even have. Haven't you heard of recent serial explosion in that Asian port. Nowhere is exempted but I prefer my country, I have survived for over 4 decades in naija and still alive and loving it. Cult has not affected me in any way, not been lucky to be robbed, never, where I stay, I enjoy good roads even at 2am u can travel to any part of akwa ibom and nothing hinders your flow. I don't have need to frequently travel interstate. Flying out is from ibom airport to any of the international airport. I am speaking for myself, I choose nigeria over any foreign country. Don't join the bandwagon, nigeria is not so bad.

Meanwhile where did you get your statistics about cult killings in akwa ibom. Been long I hear of such and the count wasn't that fantastic, but even it does, it's only getting rid of the bad eggs, I encourage it. Cult killing is cancelling out the bad eggs and should be encouraged. Anybody that is a cultist and has been an accomplice should die. Newton law: equal and opposite reaction, u can't escape it, it can't be wished away but can be transferred from one form to another, u see this life, u must pay for your deeds, directly or indirectly. Energy can neither be created not destroyed, but can only be transformed, your bad energy must materials. Abstain and enjoy free flow of peace. I am the proud king of the Jews.

RayRay06677:


For cult related issues, its self inflicted and deserve no pity. Industrial accident, I think nigeria even has a lesser case, how many industry do we even have. Haven't you heard of recent serial explosion in that Asian port. Nowhere is exempted but I prefer my country, I have survived for over 4 decades in naija and still alive and loving it. Cult has not affected me in any way, not been lucky to be robbed, never, where I stay, I enjoy good roads even at 2am u can travel to any part of akwa ibom and nothing hinders your flow. I don't have need to frequently travel interstate. Flying out is from ibom airport to any of the international airport. I am speaking for myself, I choose nigeria over any foreign country. Don't join the bandwagon, nigeria is not so bad.

Nice one bro

Lazyyouth4u:

Of course she’s just giving lawyers food to eat because she can never win. I’m sure there’s an arbitration clause in the contract and it certainly won’t be in Naija.

What she’s doing is what will keep strategic buyers away from her company. Nobody wants to deal with a local partner that will end up taking them to the local courts when things don’t work out for the local partner. Even Steve Jobs was kicked out from his own company, Apple, in the 80s and he took it in good faith. Happens to entrepreneurs all the time. You need the investor or bank’s money, then be prepared to dance to their tune! You can’t eat your cake and have it.

But Steve Job left as a dollar billionaire, he is dead but his children and loved ones are still earning dividends running to hundreds of millions of dollars every year

DexterousOne:
Seems this digital agriculture party will soon be over...

As people are struggling to get their money back from quite a number of them are struggling to pay up, and Leadway Assurance have denied them

I remember sir Emmanuelewumi warned about it

Now look at the mess.

I never really understood the business model though

My one kobo did not go into it.

igbizen:

My one kobo did not go into it.

I did not understand the business model

Please is there any local bank that do more than 100 dollars per month on atm....

DexterousOne:
Seems this digital agriculture party will soon be over...

As people are struggling to get their money back from quite a number of them are struggling to pay up, and Leadway Assurance have denied them

I remember sir Emmanuelewumi warned about it

Now look at the mess.

I never really understood the business model though

Why should anyone offer returns of 50% per annum to investors when they can get bank loans at 25%?

Was there ever a party sef? I suspect, they were just taking from the first set of Peter to pay the second set (Paul) so that many other people can join.

I have said it before, if you have done anything agriculture, you will know that making profit is very hard not to talk of 50%. If the profit was that much, there would have been a band wagon effect knowing our penchant for copying each other.

DexterousOne:
Seems this digital agriculture party will soon be over...

As people are struggling to get their money back from quite a number of them are struggling to pay up, and Leadway Assurance have denied them

I remember sir Emmanuelewumi warned about it

Now look at the mess.

I never really understood the business model though

emmanuelewumi:



But Steve Job left as a dollar billionaire, he is dead but his children and loved ones are still earning dividends running to hundreds of millions of dollars every year

No he didn’t. Not when he was kicked out of Apple in 85. He became a billionaire from his next business venture, Pixar, which he invested USD10m in 86 but which officially made him a billionaire in 95 after an IPO.

After ‘blowing’ from Pixar, he did go back to Apple in 96 to take his company back. And the rest is history...

DexterousOne:



The financial recklessness of this foolish president of ours will have its repercussions
But most nigerians are either too stupid to care
Or are just damn ignorant of how the futures of their descendants is being given away

Make we dey look...
We would see where this will lead

Maybe some of you who comment here are right
That Nigerians deserve what they are about to get.....
Just maybe

The average Nigerian is working on leaving the country that's why they don't seem to care.

emmanuelewumi:



Why should anyone offer returns of 50% per annum to investors when they can get bank loans at 25%?

That's a very good question

Or even sell shares and pay even less than 25% as annual dividends...
Na wa for Nigerians o.

ahiboilandgas:
Please is there any local bank that do more than 100 dollars per month on atm....

you Should try GTB. They just increased theirs to $200.

boolee:
you Should try GTB. They just increased theirs to $200.

need to pay 300 dollars ....