₦airaland Forum

WOULD LIKE TO TAKE THIS MEDIUM TO ENCOURAGE YOU TO ON INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU IN THIS TIME OF RECESSION[b][/b]



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO TAKE THIS MEDIUM TO ENCOURAGE YOU TO ON INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO USE THIS MEDIUM TO ENCOURAGE YOU ON AN INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU OUT FINANCIALLY IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO USE THIS MEDIUM TO ENCOURAGE YOU ON AN INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU OUT FINANCIALLY IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO USE THIS MEDIUM TO ENCOURAGE YOU ON AN INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU OUT FINANCIALLY IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO USE THIS MEDIUM TO ENCOURAGE YOU ON AN INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU OUT FINANCIALLY IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO TAKE THIS MEDIUM TO ENCOURAGE YOU TO ON INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO TAKE THIS MEDIUM TO ENCOURAGE YOU TO ON INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO TAKE THIS MEDIUM TO ENCOURAGE YOU TO ON INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

WOULD LIKE TO TAKE THIS MEDIUM TO ENCOURAGE YOU TO ON INVESTMENT PROJECT THAT WILL DEFINITELY HELP YOU IN THIS TIME OF RECESSION



https://www.nairaland.com/3484309/let-me-reveal-u-how

Fear of the unknown...

Medicine after death ,he have gotten what he wanted already. ..

almost Nobody makes it clean

oh well ! expect new breed of big boys in Lagos... n of course high population.

wow!! expect crew of new big boys ! n of course high population....

I concur

it's all good but be aware that
*Once you receive $100 in payments or fund your account with 100usd , you will receive a $25 reward. Subject to Payoneer Refer a Friend Program

I can *live* without money but can't *exist* without it brethren....

I reckon most of them would switch to investing their gain in the capital market..

The Federal High Court in Lagos has ordered a former Minister of Finance, Ngozi Okonjo-Iweala, and the Federal Government to “provide information on the spending of the alleged missing N30 trillion which represents some accruable income to the Federal Government during the last four years of the administration of former President Goodluck Jonathan.”
The judgment was delivered last week by Hon Justice Ibrahim Buba following a Freedom of Information suit number FHC/L/CS/196/2015 brought by the Socio-Economic Rights and Accountability Project (SERAP).
SERAP’s Deputy Director, Olukayode Majekodunmi, made details of the judgment available to PREMIUM TIMES via a press statement on Sunday.
SERAP’s suit followed the claim by the former Governor of Central Bank of Nigeria (CBN), Charles Soludo, that at least N30 trillion “has either been stolen or unaccounted for, or grossly mismanaged over the last few years under the Coordinating Minister of the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala’s watch.”
Justice Buba said in the judgment, “Mrs Okonjo-Iweala and the Federal Government have no legally justifiable reason for refusing to provide SERAP with the information requested for. The Court has gone through the application and agrees that SERAP’s application has merits and the argument is not opposed. SERAP’s application is granted as prayed.”
The Court agreed with the arguments by SERAP’s deputy director, Olukayode Majekodunmi, that Mrs Okonjo-Iweala and the Federal Government “should have either supplied the information requested by SERAP or communicate her denial within seven days of receipt of the letter from SERAP if she considers that the request should be denied.”
The judgment by Justice Buba reads in part: “Preliminary objection by Mrs Okonjo-Iweala and the Federal Government is misconceived, the court upholds the arguments by SERAP for the reasons stated herein.
“SERAP commenced this proceeding by way of Originating Summons dated 23 February 2015 and filed 25 February 2015. Mrs Okonjo-Iweala and the Federal Government filed a Memorandum of Conditional Appearance, a Notice of Preliminary Objection and written address, all undated but filed on 29 September 2015.
“The preliminary objection is on the following grounds: that SERAP did not obtain the mandatory leave of the Federal High Court to issue and serve the Originating Summons and other processes outside Lagos State; that there is no mandatory endorsement on the Originating Summons that it is to be served on Mrs Okonjo-Iweala and the Federal Government in Abuja and outside jurisdiction of this Court.
“The only issue for determination is whether Mrs Okonjo-Iweala and the Federal Government should be heard on their preliminary objection considering the totality of the circumstances of this case.
“He who wants equity must do equity. This suit was filed on 25 February 2015 and from the record of the court was served on Mrs Okonjo-Iweala and the Federal Government on 3rd July, 2015. It took about 3 months for them to come up with technical response to the simple request for information under the Freedom of Information Act 2011.
“Mrs Okonjo-Iweala and the Federal Government have therefore been caught by Order 29 of the Rules of this Court, which requires that an application shall be made within 21 days after service on the Defendants of the originating summons.
“If Mrs Okonjo-Iweala and the Federal Government want to raise issues about service, the law does not permit of demurer. The proper route for them should have been to join issues with the originating summons and also file their objections. In the present case by SERAP, the Notice of Preliminary Objection by Mrs Okonjo-Iweala and the Federal Government is incurably defective for not conforming to order 29 of the Rules of this Court.
“The process adopted by Mrs Okonjo-Iweala and the Federal Government in this suit is to come by way of demurer. This process has long been abolished by the Rules of this Court. By Order 16 Rule 1 of the Rules of this Court, no demurer shall be allowed and rule 2 provides that a party shall be entitled to pursue by his pleadings any point of law and any point of law so raised shall be disposed by the judge who tries the cause at or after trial.
“The implication of this clear provision of the rule of court is that Mrs Okonjo-Iweala and the Federal Government must join issues with SERAP on the originating summons no matter how flimsy, instead of looking for a technical way out. This technical way out has failed.
“The concept of demurer as presently raised by Mrs Okonjo-Iweala and the Federal Government is no longer known to law especially the Federal High Court of Nigeria. It is the position of the law that the application of Mrs Okonjo-Iweala and the Federal Government should fail. Mrs Okonjo-Iweala and the Federal Government, having failed to file Counter Affidavit to SERAP’s suit, are deemed to have forfeited that option of filing anything again.
“Having shown why the Application by Mrs Okonjo-Iweala and the Federal Government should be dismissed for failing to join issues with SERAP, the originating process must be moved on the merits.
“On the issue of failure to obtain pre-requisite consent/leave of Court to issue and serve the originating summons on Mrs Okonjo-Iweala and the Federal Government outside of jurisdiction, Order 6 Rule 31 states that ‘in this Order out of jurisdiction means out of the Federal Republic of Nigeria.
“It is also necessary to refer to sections 97 and 99 of the Sheriff and Civil Process Act. The provisions apply to the validity of the service and have nothing to do with the validity of the originating process. On the strength of this clear provision, which Mrs Okonjo-Iweala and the Federal Government did not deny and incapable of denying at this point, their objection is dismissed as the validity of the process is not affected in any way.
“The main issue in this Court’s view bothers on the legal binding obligation imposed on Mrs Okonjo-Iweala and the Federal Government by the provisions of the Freedom of Information Act access to a record of information requested for. In the case at hand, SERAP through its letter of 2 February 2015, Exhibit A, sought the information relating to the spending of the alleged missing N30 trillion, which represents some accruable income to the Federal Government during the last 4 years of the Administration of President Goodluck Jonathan. Exhibit A has been received by them, and Exhibit B is the acknowledgement of receipt of Exhibit A.
“However Mrs Okonjo-Iweala and the Federal Government have since the receipt of the request letter failed, refused and or neglected to provide SERAP with the information it requested for within their custody. They should have either supplied the information requested by SERAP or communicate their denial within 7 days of receipt of the application from SERAP if it considers that the application should be denied.”
SERAP had in February 2015 dragged Mrs Okonjo-Iweala to court over a “failure to provide information about spending of the alleged missing N30tn, which represents some accruable income to the Federal Government in the past four years.”
Commenting on the judgment, SERAP’s executive director, Adetokunbo Mumuni, said, “This judgment shows the important role that Nigerian courts can play in the efforts to promote transparency in government and combat corruption and the impunity of perpetrators. It also confirms that high-ranking government officials can no longer escape accountability for their action while in office. We urge Mrs Okonjo-Iweala to cooperate with the authorities in the efforts to ensure the full and effective enforcement of the judgment.”
Mr Soludo had in a widely circulated speech asked Mrs Okonjo-Iweala to explain “How many trillions of naira were paid for oil subsidy (unappropriated?) How many trillions (in actual fact) have been ‘lost’ through Customs duty waivers over the last four years? Can you tell Nigerians why the price of diesel has still not come down despite the crash in global crude oil prices, and how much is being appropriated by friends in the process?”

source : http://www.premiumtimesng.com/news/headlines/203877-court-orders-fg-okonjo-iweala-account-nigerias-missing-n30tn.html

Nigeria’s gross domestic product (GDP), which measures the monetary worth of economic activities, saw its growth rate fall to a 25-year low in the first quarter of 2016, the Nigerian Bureau of Statistics (NBS) disclosed on Friday.
The bureau said the economy shrunk by 0.36 percent in Q1 2016. To many Nigerians, these are but figures, but here is what those digits really mean.
MUCH FEWER JOBS
GDP measures the health of an economy. A positive GDP means a healthy economy, while a negative GDP growth as seen in the report means otherwise.
With a contraction in the economy comes shedding of jobs and other economic activities. Ideally, this means more jobs were lost (in percentage) in the first quarter of 2016, than in anything since the return of democracy.
This was more evident in the unemployment report released by the NBS on the same day, showing that about 1.5 million people became unemployed in the first quarter of the year.
A contraction in the economy means less job opportunities for the people.
LESS MONEY, FEARS OF RECESSION
GDP growth calculated using the expenditure (production spending) approach means a contraction shows a reduction in money available for spending in the quarter under review.
This shows that the net flow of capital in and out of the economy shrunk concurrently with GDP. The country’s economy is experiencing less economic activities and less foreign investment, based on the economic climate of the nation.
According to figures from the stock exchange, the country saw a huge capital flight in the first quarter of the year, with the market capitalisation falling to as low as N7 trillion at some in the first month of the year.
With negative GDP growth, fears are that economic recession looms. A recession is seen as at least two quarters of consecutive decline in a nation’s GDP.
LESS TAXES, LESS REVENUE
The contraction in GDP also means less profits for companies, less taxes to be paid and inevitably less revenue for the country. For a country that wants to purse non-oil revenue to finance its budget, this is a tough call.
A report by Nairametrics examined the first quarter results of the 44 companies in the economy, and noted that combined profit for all was down by 11.1 percent from the value in 2015.
This directly reduced tax payable to the government by 13 percent, thereby reducing government revenue for the period under review.
FEWER DEVELOPMENT PROJECTS
Government bases its budget financing on revenue and debts. With revenue dwindling, the prospects of getting debts to finance the budget also dwindle, except the government wants to dive headlong into serious deficit.
The electoral promises of the government will become more difficult to implement now because of the paucity of funds. The plan to provide massive infrastructure will be hampered by dwindling revenue.
In other words, it just got more difficult for the government to fulfill its promises.
BAD SIGNALS FOR WOULD-BE INVESTORS
Investors look at GDP growth to see if the economy is changing rapidly so they can adjust their asset allocation. A bad economy usually means lower profits for companies, which in turn means lower stock prices for some firms.
Investors compare a country’s GDP growth rates to decide where the best opportunities are. Most investors like to purchase shares of companies that are in rapidly growing countries.
This would mean many investors will prefer to go to a Ghana, Ethiopia or Cote d’Ivoire, where GDP outlook is largely positive, in order to maximise profit.
On a brighter note, owing to the lack of jobs in Nigeria – or any country with contracting GDP – some investors may seek to come as they are sure to get cheap labour from such an economy.


source : https://www.thecable.ng/5-things-nigerians-expect-gdp-growth-crashes

A former Minister of Police Affairs and governorship candidate under the Peoples Democratic Party, PDP, in Yobe State in 2007, Alhaji Adamu Maina Waziri has stated that the party will capitalize on the under-performance of the All Progressives Congress, APC-led administration in its bid to regain power in 2019.
The PDP BoT member disclosed this in an interview with the Sun newspaper, where he admitted that the party had made some serious mistakes that led to its defeat in the 2015 general elections, adding that for the PDP or any party to rise up to the APC in 2019 with President Muhammadu Buhari in the saddle, they must come with clean hands.
He said, “First the PDP must be led by people of honour and integrity.
“Secondly, the candidate of the PDP must be somebody who should stand up with credentials that are same with the current President.
“Thirdly, the party and its candidate must understand that money cannot replace credibility. It cannot replace good behaviour.
“If it were on account of money alone, PDP would not have lost the election. People should not be saying that we need a national chairman who is a money bag. We need somebody with integrity.
“We need somebody who is intelligent, well lettered and who will be in a position to confront the leadership of the APC on equal terms.
“We will not be sending our worst eleven. Many leaders of PDP in Wadata plaza have been guests of EFCC. In a situation where the world is expecting Nigeria to redeem itself from the abyss of corruption it has found itself, we should put forward people who are credible to run the party.”
The former minister of state for Agriculture claimed that some of the party members, including him, spoke against Jonathan’s candidature when some elders from the region openly urged and campaigned for the former President in the last election.
He added, “There are always two sides to the coin. We had people who campaigned for Jonathan and we lost.
“Those people are now saying, yes, we made a mistake. We had people who didn’t campaign for Jonathan and we lost.”
Waziri maintained that the PDP must take responsibility for what has happened, adding that there is no need living in self-denial.
“PDP should come to terms with its past misdeeds and offer the necessary apologies and entreaties to Nigerians.
“At the end of the day, no matter what you do, you are a human being, you are bound to make mistakes.”
He said the party must accept that mistakes were made and seek measures to amend them by not falling into traps.
Waziri said that having lost the presidency and two-third of states in the last elections the party is “hopelessly weak,” but added that there is hope of doing better in 2019 than it performed in 2015.
He added, “Possibly, if the APC will continue the way it is doing, we will win the presidency or we will give them a fight for their money.”
He further explained that there are some mistakes the incumbent APC-led government is making now that will easily bring the PDP back in power, saying that the 2016 budget was one of those mistakes.
source : http://dailypost.ng/2016/05/20/pdp-should-apologize-to-nigerians-for-past-misdeeds-waziri/

Nigeria’s gross domestic product (GDP), which measures the worth of economic activities, crashed to its lowest since 1991 in the first quarter of 2016.
According to the GDP report released by the Nigerian Bureau of Statistics on Friday, the country’s economy crashed to a 25-year low of -0.36 percent.
NBS says Q1 GDP declined to -0.36 percent from 2.11 percent in Q4 2015 and 3.96 percent in Q1 2015.
The last time the Nigeria economy grew below 1 percent was in 1999, a few months after the return of democracy in May, 1999.
According to World Bank figures, the economy had a regression of -0.3 percent in 1995, and -0.6 percent in 1991.
Yemi Kale, the statistician general of the federation, who unveiled the report added that the oil, industries, power and manufacturing sectors of the economy shrunk in the period under review.
“Oil GDP estimated at -1.89% from -8.28% in q4 2015 and -8.15% in q1 2015 and non-oil GDP at -0.18% from 3.14% in q4 2015 & 5.59% in q1 2015,” he wrote from the report.
“Electricity and gas GDP at -44.4% in q1 2016 from 1.20% and -27.92% in q4 and q1 2015 respectively. Industries GDP at -5.49% in q1 2016 from -3.04% in q4 2015 & -2.53% in q1 2015.
“Manufacturing GDP at -7.0% in q1 2016 from 0.38% and -0.70% in q4 and q1 2015 respectively. Other (light)manufacturing GDP at -12.22% in q1 2016 from -1.06% and -5.67% in q4 and q1 2015 respectively.

source : https://www.thecable.ng/just-nigerias-gdp-crashes-25-year-low

Worried by the inconsistency in the continent’s agricultural practice, especially in relation to investment in large-scale commercial farms, former Secretary-General of the United Nations, Kofi Anan and other stakeholders have decried neglect of smallholder farmers, stating that more than 80 per cent of African agricultural production come from them.
According to the stakeholders, Africa’s smallholders are more than capable of feeding the continent—so long as they boost their yields by using the latest agronomic practices in combination with appropriately adapted seeds and fertilizer.
Although investors in Nigeria’s agricultural value-chain may have found appeal in out-grower schemes, the stakeholders noted that allocating large blocks of land to foreign investors, reserving water for industrial-sized operations, and concentrating research and development on a few cash crops doesn’t help most farmers.
Similarly, United Nations Conference on Trade and Development (UNCTAD) has identified the role of smallholder farmers in making meaningful contributions to sustainable economic development if stimulated with the right policies.
According to UNCTAD Commodities and Development Report 2015, smallholder farmers manage just 12 per cent of all agricultural land, yet they produce more than 80 per cent of the world’s food in value terms and thus, deserve more attention therefore from policymakers to unleash their full business potential.
Indeed,

source :. http://m.guardian.ng/business-services/ignored-smallholder-farmers-account-for-80-of-africas-agric-production/