₦airaland Forum

MrPRevailer:
The allegation is false. America is trying to disengage itself from anything Chinese. China is supplying faulty testkits and low-quality face to different nations. Nigeria FG take note.
Evidences in the video below.
'china uncensored'


https://www.youtube.com/watch?v=LYgJEz42D7s

Please quit peddling obtuse right-wing conspiracy theory BS here...
Pretty much the same yobs who believe that folks like you don’t belong in America. SMH
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.
But we were told that the Chinese masks are substandard?
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coolcharm:
A cat with 9 lives.

If you've never been framed up before, you won't understand.

It is better to cry and save your head than from strong man and die.

Where is the so called abacha today? He died 22 years ago

Happy birthday joor!

Captainrambo2:
see eh stop this nonsense .

Even burutai can not face abacha eye to eye. Just leave diya abeg . Man dey pass man.

If abacha hadn't died , I kid you not he will still be president today, even obj, ibb, nobody could challenge him, soyinka fled,

Diya cried and outlived abacha. To him today I say happy birthday

Guy abacha was in another level !!!!

Forget Abacha...
Diya was wailing before Major Mustapha - who btw is still very much alive today! SMH
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Olunmercy56:
Ha... What of those who died at home

Indispensable85:
What happened to the corpse of the former ppmc boss? Stupid government. If it's elite he'll be released to his family. Nigeria laws are always for the poor.

He didn’t die at home...

The article linked below breaking the news of his death contains a family statement that he died at the specialist hospital. We shouldn’t be encouraging people (poor or rich) not to follow basic laws or rules and regulations. That’s why this country is often referred to as a Zoo.

http://saharareporters.com/2020/03/23/breaking-family-confirms-death-ex-ppmc-managing-director-achimugu-coronavirus

PS: Btw, if this directive is flouted for the rich, it will only harm them because Covid-19 infection respects no wallet or class divide.
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Niceman4u:
This mongo park of a writer is subtly looking for a job from Abba Kyari.

Not even that subtle...
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kennys:
We are approaching the rainning season or should I say the rainning season is here, our roads are in terrible shape, the Governor Babajide olusola Sanw-olu promise that the roads will be fixed during the dry season, nothing has happening Isawo Agric road is Hell on Earth, Ebute Ipakodo road in Ikorodu West Local Government is a no go area and likewise many other roads in Lagos State. Oga Sanwo what has suddenly happened to all your promises?

You think construction workers and road gangs are immune to Covid-19?
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Excuzeme:
Just imagine, 2000 tests within ONE MONTH?

When Germany is not makin noise with ONE MILLION TESTS in ONE DAY?
Mediocrity elevated to the status of An Art!
Yeeye dey smell

GDP of Germany: $4 trillion (approx)
GDP of Nigeria: $400 billion (approx).

Perspective...
"The lizard that jumped from the high Iroko tree to the ground said he would praise himself if no one else did." (Things Fall Apart)

GOOD JOB NIMR...
Anyone who thinks they can do better is welcomed to do so.
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Classworked:
Bosun Tijani is definitely behind this website and this move comes at the most appropriate time. He is very hard working and his access to foreign education, I guess, paved way for his global connection and subsequent access to angel investors.
I heard about him when Zuckerberg met him during Zuck's visit to Nigeria.

Temie Giwa-Tubosun is also recognised for her doggedness and dominance in a male dominated sector . She's also an American.

Respect to Seun and other tech movers in Africa's most populous nation who made impact without foreign investment or direct influence from foreign network.

Seun 's opinion about the stay at home order is amazing. People should be allowed to work but on condition that they adhere to safety precautions because of the wide gap between the rich and poor in this country. Maybe if Nairaland was enlisted in NYSE , his wise opinion could have been considered.

I don't want to detract from the discourse, but stuff like this really irritate me...

How exactly is Temie "an American" (other than the obvious of holding a US passport)?
Exactly how can someone who is born in Nigeria to two Nigerian parents be just "an American"?
At the very least, properly described as NIGERIAN-American (and from my experience, with Nigeria her foundation).

Rant over, carry on....
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bigpicture001:
The death rate nd unemployment rate in the US is very low in the US...( that is a norm)

Is it still same fact momentarily...? Does it mean the US no longer have good hospitals or doctors or maybe all their factories nd workplaces stoked being competitive..?

Answer this so that you can b sensible enough to understand me

Still comparing apples with agbalumo...LOL!
What part of the word “currently” confuses you?

It currently takes ships an average of about 25-30 days to secure a landing berth at the Apapa ports...
And then another couple of weeks to get your cargo out of Apapa - and all that time the importer is paying demurrage. SMH

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kayusely70:
The chinese have virtually made Italy dependent on them for economic survival.

While Nigerian prostitutes have become virtually dependent on Italy for economic survival...
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DeLaRue:
Smh furiously.

Chinese now fully own and control a major port in Nigeria, and can continue to do so for hundreds of years to come.

With the way the Chinese are, trust me, within that port vicinity, Nigerians will be treated like foreigners.

Very bad.

You mean the Chinese are BUILDING “a major port in Nigeria”...
On land that was forest and swamp for “hundreds of years” and was likely to remain so.

Meanwhile, it’s a BOOT project that will be transferred to the NPA in 45 years so that they can run it into the ground (like several others)...
Nigerians are always obsessed with ownership and control (sharing, loot, etc.), but hardly if ever in investment, building, risks, and so forth.
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bigpicture001:
And we have not noticed the mass migration of very skilled Chinese workers to Japan nd the US...?

Yes they are not paid half wat they pay in the US nd Europe ,but they live in China where cost of living is relatively far cheaper than US nd Europe...

A Nigerian earning 450k here is same as Nigeria. Living in the US nd earning a monthly sum of 1.3million...the only difference is standard of living

But in the case of the Chinese, standard of living is same thing with American...so it doesn't matter

Huh?!
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bigpicture001:
I read ur links nd laughed...nd I as you this...does normal way of life make headline...?

Answer is NO. It made headline of 20days delay,cuz it was not normal at the time...

And stakeholders said its cuz of trafficking girdlock on Apapa road ( a route for Evacuation) is the cause....

You are very determined to prove your point by ascribing every thing evil to management so its looks like management is the problem....

The lekki port if operational ,will d truth drivers fly in the sky..? Or you think they have flying container...its still in lagos

You said these things stopped happening since 2012...
Faced with stark evidence it is still happening, you resort to proverbs. LOL!
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veron007:
So in effect the deep sea port is owned by Chinese. They provide most of the funds and own more than 50%. We just sold our birth right for a pot of porridge. The CEO is also a foreigner appointed by the Chinese to further their interest. Let me tell you about the scenario that plays out here. They provide the funds, control the procurement decisions and manage the port. We will never be able to complete paying back the loan since the project can only buy from Chinese companies at the price they offer. Our mumu never do? What happened to increasing the depth of other ports in Nigeria? We have under utilized ports Calarbar, Warri, Port Harcourt. This shouldn't be our priority now.

It’s not “our” priority...
It’s a PRIVATE sector driven project, and thus the investors’ priority.

PRIVATE investors vote with their wallet and their feet...
Since the FG isn’t financing this, it should have the funds to dredge ‘federal character’ ports.
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bigpicture001:
Dumurage does not start till after 14days....

Now devalued currency like that of the Benin republic which uses the CFA franc notes helps reduce cost...u want to tell me american coys don't know managements? ..y then are stuffs still more expensive there that. China...? Curenccy advantage...

That what Benin have been using against Nigeria...now if you don't know . the stat you gave on delays on Nigerian ports are old school.. Since 2012....it has drastically reduced with the Fb introduction of the inland dry ports across the country...

This helps to evacuate containers to different part of the country to clear space for new incoming cargoes...pending when imoorter is ready to start his clearance...

Again great measures have been out in place since then including cheaper berthing charges to land your vessel in other naija seaport...


So as I said b4...cost us the reason for diverting cargoes to Benin republic nd not management....

Btw, are you really comparing Nigerian PUBLIC sector management with American PRIVATE sector management?

Bros, the primary reason Chinese goods are cheaper is that labor costs are much cheaper in China...
A highly-skilled Chinese worker (even some graduates) earns LESS than a US high school dropout with a union job.
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bigpicture001:
Dumurage does not start till after 14days....

Now devalued currency like that of the Benin republic which uses the CFA franc notes helps reduce cost...u want to tell me american coys don't know managements? ..y then are stuffs still more expensive there that. China...? Curenccy advantage...

That what Benin have been using against Nigeria...now if you don't know . the stat you gave on delays on Nigerian ports are old school.. Since 2012....it has drastically reduced with the Fb introduction of the inland dry ports across the country...

This helps to evacuate containers to different part of the country to clear space for new incoming cargoes...pending when imoorter is ready to start his clearance...

Again great measures have been out in place since then including cheaper berthing charges to land your vessel in other naija seaport...

So as I said b4...cost us the reason for diverting cargoes to Benin republic nd not management....

Here are links to some recent news reports (Dec 2019, Jan 2020, Feb 2020)...

https://guardian.ng/news/congestion-traps-26-vessels-in-lagos-ports-shippers-lament-delays/
https://www.seatrade-maritime.com/ports-logistics/container-lines-facing-delays-over-20-days-lagos-terminals
https://businessday.ng/maritime/article/congestion-heightens-in-lagos-ports-as-vessel-waiting-time-hits-25-days/
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Ramsak1:
Yo'all complaining should calm down. It is equity fund for God's sake, its foreign direct investment into our economy which is a good thing to say the least. Nd beside they have the expertise to make the project come into actualization, its a win-win as evrybody will be happy.
I think we should be gratefull to these chinese because atleast nw we are seeing infrastructures springing up in our country and these guys have the confidence to invest in our economy unlike the westerners we've been in bed with all these while.
Imagine companies Royal Dutch shell, exxonmobile, Chevron, they've being dealing our oil for decades without giving nothing back, they won't even refine here no infrastructures no notin.
Developments we've seen in the past few years dealing with chinese, we'll never see it dealing those westerners because they need us to be poor xoo they can always exploit and take advantage of us.

BLESS YOU!
Great minds and all that...
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MondayOsunbor:
our children will fight for another independence over Chinese colonial masters.

chinese are not europeans . chinese no get human heart

go ask tibetans

http://www.rfi.fr/en/asia-pacific/20190311-tibetans-commemorate-uprising-and-brutal-chinese-occupation-1959

This sort of crude racism is cringeworthy...
You don’t need to go ask Tibetans, when you can ask Ibos or Rwandans what Africans can do to each other.

Meanwhile, the “Europeans” you seem to idolize...
Enslaved your forefathers, colonized and brutalized your land and grandparents, and threw some of their own into gas chambers.

Let he without sin cast the first stone (I paraphrase ).
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bayusman:
Gave us debt still bring all their citizen to fill all the better positions. Smh

Equity is NOT debt...

The are taking the RISK of failure...
So no issue with them bringing onboard someone they trust.
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bigpicture001:
Brother don't go there....management is not a reason ppl divert goods to Cotonou....its cost...

And even at that Cotonou port does return even half revenue naijA shiroro port generate in a year...

Same thing lecturers lie to student That school welfare is the reason ASUU usually embark on stile...nd never letting them know its all abt wages

Poor management is what leads to higher costs...
And cost is not just pricing but also opportunity cost.

It currently takes ships an average of about 25-30 days to secure a landing berth at the Apapa ports...
And then another couple of weeks to get your cargo out of Apapa - and all that time the importer is paying demurrage. SMH
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wman:
Equity not loan.

I don't like how this sounds.

At least you can pay back a loan.

So, they will become controlling shareholders of the port. And the Chinese make up the core of the management board.

We're gradually losing our independence subtely. Chinese steadily colonizing Africa.

Nothing comes freely.

veron007:
So in effect the deep sea port is owned by Chinese. They provide most of the funds and own more than 50%. We just sold our birth right for a pot of porridge. The CEO is also a foreigner appointed by the Chinese to further their interest. Let me tell you about the scenario that plays out here. They provide the funds, control the procurement decisions and manage the port. We will never be able to complete paying back the loan since the project can only buy from Chinese companies at the price they offer. Our mumu never do? What happened to increasing the depth of other ports in Nigeria? We have under utilized ports Calarbar, Warri, Port Harcourt. This shouldn't be our priority now.

careidon:
Going by their single largest contributor status and control of board & management (esp the CFO & assistant posts) They own the project/port.
The question to ask is, was the fundings truly brought into 9ja? It seems wrong that the check & balance is missing - the MD can just work and CFO just cross it out at times 5 of value, which is what our politicians always do.

It’s a BOOT (Build, Own, Operate and Transfer) project...
The foreign investors bring the money, build it, operate it for 45 years, and then transfer it to NPA.

For donating the land, Lagos gets a 20% while NPA gets a 5% equity...
So LASG and NPA will be collecting 25% of all of the profits over those 45 years for doing jack all.
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engrchykae:
a French, British,or Chinese CEO is not acceptable because these are treasure seekers, colonialists

If you don’t want them put up the cash... simples!
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Gabson006:
What's the difference between this and that of Apapa,One port and those in Akwa ibom

Pls enlighten me sir
Thanks

Apapa and Onne are actually ‘river’ ports...
They can not accommodate the biggest class of ships available these days.

Lekki (and the proposed Warri, Ibaka and Bakassi ports) will be Nigeria’s first deep seaport(s)...
It should be cheaper and more efficient because more goods can go in or out in one vessel instead of several.
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bigpicture001:
You now see it that APC wants to disintegrate Nigeria..?

After oil,Nigeria's next biggest earner is revenue from the Lagos port...

Now if much vessels are divested from FG's port in lag to a private port....what happens to naija's national revenue...?

Tinubu want to cripple Nigeria...with his manipulation of politics to bend laws to give him economic advantage....

We are not ready for this so called " development"

Nigeria is finished!

You mean instead of going to the better-run privately-run neighboring ports of Cotonou and Lomé like many are presently doing?
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StrikeBack:
Don't worry guys.. your leaders don't care about the future of your kids..

Time will tell

Nigeria needs to invest at least $3 trillion over the next 10 years to bridge its widening infrastructure gap (the figures are according to different reports from the IMF and McKinsey). We will never have that sort of money (about $30 billion yearly) to invest in infrastructure, so we need to attract lots of foreign capital (and equity capital such as this one is always better than debt capital). Nigeria’s kids will have a much better future and much brighter prospects and opportunities in a country with excellent functional infrastructure.
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bigpicture001:
...plz is this a Lagos government seaport or fed. Govt. Sea port...?

It’s a PRIVATE sector-led project...

It was initially just a Lagos and Eurochem (Singapore) JV, but then the federal government butted in because under Nigeria’s peculiar brand of ‘federalism’, all port development are controlled by the Nigerian Ports Authority. This delayed the project for several years until the issues were sorted (after APC got into power at the federal level), with the NPA taking a small equity stake (5%).

The Singaporeans have now been replaced by the Tolaram Group (Indians) and the Chinese, and the project has also now been retooled into a BOOT (Build, Own, Operate and Transfer) project, under which ownership will be transferred to the NPA after 45 years, during which period the International Consortium (made up of Tolaram and the China Harbour) will operate the port.
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vaca1:
That money should be returned

Usual Nigerian mentality...
Rather own 100% of NOTHING than a smaller percentage of something. SMH
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bomber64:
Who coursed Nigeria like this?

Must it be China
This people are white devil

Single handed person donated 1/3 of the required amount. Invariable his the...

Don’t be such a crude racist...
Pretty sure if YOU had offered the money, the developers would have taken it. SMH
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sirblend:
Too early to start reading with an empty stomach.

Lonelyhrt1:
Hmm, I see China taking over most of our national assets in the near future if we can't fund or pay back our loans

kellidoo:
China giving out funds to claim assets in the Future......same thing they have done to US after releasing corona virus.

Axe4christ:
Right now I don trust the Chinese, they are as tricky as their movies

ignis:
Our government always signing blind deals with China. Very soon Chinese will take over our country and our children will fight for another independence over Chinese colonial masters.
We have the resources to run our country if managed well, but we will prefer to loot and mismanage it and beg other countries for assistance.
Nigeria is a begging nation. Buhari keeps borrowing at the expense of our children's future.

Teeisaac:
China again

AFONJACOW:
$222m to fully export Convik one and nine Birus directly to the heart of Africa... I knw their game plan... Chinese gift is like Greek gift

vicardino:
Why am I feeling so bad about this?

jayson87:
O ga oooo... We no knno whether to celebrate or cry over this news. China just they use money colonize us again in a 21st century.

Very soon they will start making laws and having their own reps in our national assembly. Just watch, it's a matter of time

WickedProducer:
China buying asset worldwide, they may colonise Africa the second time, God help us.

Soar2019:
‘Free is costly’ ... 21st century slavery .. here China .. there China .. every state keep borrowing from China .. day of reckoning is coming ... Nigeria beware of China!

bolicks:
Gradually, China is Taking over the Country's Strategic Assets. Great indebtedness looming and eventual Handover to he who pays the Piper. Let's keep Clapping.

Blazebond:
We just don't want to learn.

SpecialAgent:
Chinese is not ur friend Nigeria!!!

Salisun:
Am I the only one that does not feel good about this deal?

Kinikini:
A second colonisation loading. Our politician elites are a disgrace. Rather than to stop stealing and to restructure the type of government to a less expensive one thereby freeing money for capital projects, they instead prefer to sell the country to any interested foreigner.

First, this is EQUITY and not a loan...
It means the investor is assuming the RISK of failure and will leave empty handed if the project fails.

Equity investment is actually a vote of confidence in the Nigerian economy (at a time Western rating agencies are downgrading Nigeria to junk status). The stark REALITY starring in our collective faces is that Nigeria reportedly requires a minimum of about US$3 trillion (IMF figures) or approximately US$30 billion yearly (McKinsey Report on Nigeria) over the next decade to bridge its ever-widening infrastructure gap. Nigeria simply does not have these funds to invest in infrastructure, and accordingly we are going to need massive gobs of foreign capital.

At the end of the day if, in the worst case scenario espoused by so many comments on this thread, these Chinese-financed infrastructure projects fail and (as the argument goes) China takes possession and assume control of said assets, Nigeria will still be left with a world-class deep seaport, modern double-track standard gauge rail lines, massive hydro power plants in Zungeru and Mambilla (generating more power than is currently available on the National Grid for most of the year), etc. The Chinese won’t carry these projects on the head and leave Nigeria.
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Xano:
Interesting how immature your statement descend to.

Dude, search 'China debt trap'. It would do you good to learn by research.

A little information for your warped mind:

Zambia National electricity and Television company now run by Chinese company.

A port in Sri Lanka has been leased to China for 99 years because of debt default.

Research and find others if you care.

Dude, I do not need to search for any xenophobic articles...

Those assets you list would NOT be there without Chinese money...
NOTHING wrong with a lender taking over assets and recovering his/her money if the debtor is too incompetent to pay back.

Meanwhile, while folks like you are pre-occupied with xenophobic ownership...
Zambia and Sri Lanka now have a FUNCTIONAL electricity plant and port, respectively.
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engrchykae:
imagine a Chinese CEO

Why not? It’s THEIR money...
Nigerian banks in Ghana and across Africa are run by mostly Nigerian CEOs.

Even in the US, Bayo Ogunlesi was CEO of Credit Suisse (investment banking arm)...
I suppose the Americans (or Swiss owners) should not have allowed that to happen.

When people put their money into PRIVATE investment...
They do not want any Federal Character or Quota System nonsense!
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