₦airaland Forum

What happened to about $30 billion ECA fund that was shared by GEJ and governors iimmediately after Yar 'duaal died? SWF is a good public policy,

Make Boko Haram hear about them,

Interesting thread.

A poster made the very valid point that diesel and kerosene prices have been fully deregulated (i hope i'm correct in stating this) and yet we are still beset by supply line shortages and stratospheric prices (particularly for kerosene which is the fuel used by low income earners). What could explain this? We were told ages ago by the RFMAC (or whatever the hell that government department is called) and several other anti-subsidy parties that removal of subsidies on fuel would eliminate supply line distortions, allocate resources efficiently, allow price signals to work properly, etc.

In plain english, we were being told that with the removal of those evil subsidies - the frequent scarcity of diesel and kerosene would become a thing of the past.

Has that been the case for diesel and kerosene? If not, why? I would like to be educated.

YES, there are no subsidies on Diesel and Kerosene yet, they are very scarce and expensive. How about building refineries or making old ones work  and then gradually phase out their so called subsidy?

Talking is cheap. FG subsidizes diesel and petrol for mobile and affluent Nigerians while it does not subsidize kerosene for poor masses.Political cabals are looking for more money to squander, GEJ and co spent about $30 billion ECA- Excess Crude Account in less than 1yr ie $ 2.5 bn a month- yet nobody is saying anything about it because it was spent by politicians for politicians and on politicians.

I drove on Ijesha road and it was the worst human trap on earth. I later took a cab to Aguda, Surulere/Aguda road network is the worst on earth.Cab driver was even crying because the of the state of the road, Mind you this is where Fashola lived most of his life, How come all the praises on Fashola do not match what's on ground?

I wonder for them pa Soyinka!!!! Undecided Undecided Undecided Undecided
where are those anti Islamic-bank crusaders? Cool Cool Cool Cool Cool Cool
ZnO and CAN president.I know they will miss this one and later claim ignorance.

Soyinka is right, but it's called civil discourse and nobody killed because their wishes were not granted. Could the same thing be said of Miss World Nigeria and just concluded elections? We should not take up arms when we disagree with one another

Amazing to see how people who want their so called pieces of advice to be taken seriously call others Internet Nigerians. Last time I checked, NL is an Internet forum and all its members are Internet users.

Sounds like a marriage train on collision course

OP must really be a man!

Nigerians and this 'culture of blame everybody else but myself', like one  post rightly commented, what you did is a serious offence in the UK and even USA, that could earn you 'points' on your driving license, suspended driving for up to a year if not  more!,  a huge fine or even a suspended jail term!

There have to be sign posts warning motorists of a rail track, but you are allowed to drive by if there is an incoming train. Also, the rail track is closed when there is an incoming train.

Because Nigeria graduate does not rank among the first 1000 does not mean his graduate are poor

It's like implying that Zinox Computers are making better computers than Dell even though Dell is ranked way above Zinox . It's like saying that First Bank of Nigeria produces better financial managers/analysts than HSBC/Citibank.

35% of secondary school pupils got 5 credits  in this year's WAEC.
35%  of these pupils are university ready if JAMB permits.
1st class and 2.1 graduates would come from this class of 35%.
These 1st class and 2.1 graduates  would be produced by various universities in Nigeria
About 2 universities in Nigerian are in Africa's top 100 universities.
So how globally competitive and employable are these graduates?

Google is buying all of the Motorola Mobility's patents

You are basing Iweala's worth on the fact that she works at the World Bank. Obtaining a tenured position is actually more difficult than working at the World bank. Any dooofus can work at the World bank. the next Word Bank head/boss is going to be Hillary Clinton, a lawyer, who would never be considered for any Finance position job in her home country. The World bank isnt that spectacular as you are making it sound, maybe to you Ibos sha. To the rest of the world, it is just another sub-par institution eagerly working to exploit the stupidity of third world countries for the benefit of the more prosperous western countries.

The nameless university prof is not even tenured, so get it  drilled in your head. You are comparing a tested and proven technocrat with someone who is not qualified to head a department.

To some extent, we are comparing apples and oranges. . . this person I've mentioned has chosen a slightly different career path in economics than Okonjo-Iweala. But her own path is in no way inferior, and is arguably superior. What she has right now, Okonjo-Iweala can probably not get (at least at the same caliber of school.) Yet what Okonj-Iweala has right now (or the equivalent positions at the Brookings Institution or some similar organization), she can one day take

Your fair sense of comparison is in question. You are comparing someone who has proven track record -WB MD vs a non tenured assistant professor. If her dozier is rejected after 6 years, she crumbles and starts from square one. Iweala's pension alone is enough to last her entire life while a non tenured prof does have not such perks. What path is arguably superior? WB MD who has more clout, experience, money, influence and power  vs assistant prof whose career is dependent on being confirmed as a tenured prof in 6-7 years time?

What are you talking about? Tenured profs often leave for short periods of time/consult or affiliated with non-academic institutions. Just look at the bio of Mankiw I mentioned earlier. Paul Krugman is another guy, look at his bio.

You are talking about hypothetical scenario, what tenured profs would become if. Your person of reference has not become such, so keep it in the coolers. Paul Krugman is not a person of reference cos we are talking about Iwelas who have got their PhDs.


And what is your basis for saying this?

At any rate, probably as a US-trained economist, getting a position at the Federal Reserve, Council of Economic Advisors, etc are just as good if not better career-wise as being at the World Bank. And you can take a look at what sorts of people fill these positions I just mentioned.


Is  Dr Iweala not US trained? Most tenured profs would jump  at such  offer to become a WB  MD. It’s a premium spot for most profs in that field. How many profs get to rise to the position of Economic advisor to the president?  You don’t really need a professorship/PhD to be on Fed. You are going off the tangent here , cos you are talking about someone –an assistant prof who’s about to match track record with Iweala’s.

That may be. But the federal reserve doesn't mandate from above what the limit is, or what must be charged. If JP Morgan does this and I don't like it, I can switch to BoA (which to my knowledge has no fees or penalties on any sort of cash deposits.)

Agreed, but my utmost concern is that a platform for cashless economy has not been laid. What are you going to do with million of unbanked petty traders? My mom does not have a bank account, most likely will not have one . Bring the unbanked into mainstream banking and spread the cost of cashless banking to heavy hitters and account holders. It should be like having a passbook account account where you are charged no fees VS current account where you are charged some fees. It should not be mandatory.

I doubt the rate at which PhDs get tenure track positions is 50%
b) She didn't get a job "somewhere", but at a very famous school ranked pretty high on the list in her field.

Tenure track position as an assistant prof  does not match an MD position of a bank . Tenure track means the said person is on probationary status for a period of time. Simply put, the person is learning on the job, so she cannot be allowed to manage a dept let alone a bank not to talk of WB.

Look at the the job functions and pay packages. A tenured prof who gets to teach Keynesian and Classical theories  to students is not in the same league wish someone who wields so much power; controls and manages billions of dollars in assets in the global financial community. Most tenured profs in Ivy league would love to be a WB MD, but most MDs in WB would not  like to be tenured profs. Go and ask Irish, Greek, and Spaniards how much influence these Bretton Woods institutions have.

By Ngozis, you mean economists with PhDs from top schools? I actually met one in February. A young woman who will be taking up a faculty position at a pretty famous school in the US. I guess she is actually a bit better, since she was good enough to get this tenure-track faculty position. Something to my knowledge Ngozi did not do

Not economists with PhDs, but with her track record. A tenured faculty position does not translate to real world working experience.

But i have not seen where you are charged for depositing money

JP Morgan Chase Bank does charge a fee if you cross their cash limit.

Eleni Gabre has better credentials and she has had more impact than Okonjo iweala.
She's talking about advanced stuff like CBOT and food options, she sounds like an egghead who thinks that Harvard is a play ground for all smart people people on earth. You can translate NG's ideas into realities on ground in Nigeria, while Eleni Gabre ideas are abstract in African context. How many flourishing food and commodities exchanges do we have in Africa? Nil. How many thriving telecommunication businesses that are African bred do we have in Africa? Many

I think they got right to toture you when you resist arrest but under normal circumstances they ar' nt

Nobody is empowered by law to torture anyone!

in a secular country like England, i believe they still practise Islamic banking, or am i wrong?

i know Christians are human as well and i love my Christian brothers and sisters

all the atrocities u mentioned above has nothing to do with banking, moreover they are the uneducated youths

So it's bad for  a Christian to be weary of an Islamic bank,  but somehow acceptable for someone to kill in the name of religion so  long as they are uneducated. Simply put, hide under the umbrella of uneducated to unleash violence on innocent people .

What's missing in this whole argument is the CIVILITY of Christian opponents who have neither killed  anyone  nor burnt any houses  because their concerns are not addressed by CBN. Could this have been the case if it were Muslims whose opinions are not being considered?

Talk about USA,  most Americans opposed a mosque being built  near Ground Zero- NYC.

How about Police, Military and LASTMA folks?

Apparently, it's because she's trying to enforce the 'local content policy'.
Yes, one of my friends got a contract from one of the oil companies because of this law. Guess what? A foreign owned company doing biz in Naija is trying to blackmail him in order to be rewarded the contract

Most of these kids are likely going to end up running  down companies and government agencies in Naija. No wonder, we cannot boast of a national company with billions of assets that has been passed down generation to generation . Most annoying thing  about these parents who have built successful businesses, is that they support their kids to go into politics where it's easier to steal money.  What kind of jobs would Theophilus Danjuma's kids do since their dad made $500 million from one oil deal and did not know what to do with it?They can only become senators, ministers and governors and run things down because they have no appreciation for hard work and real life experiences

How did she get employment at Shell w/o the youth service?
DID YOU NOT SEE HER LAST NAMES? It's like asking why someone with Theophilus Danjuma as last names would get hired by big oil companies.

I think adconline's point is for shyone not to use majority,( she has not met every single African in America) assumptions are made but it does not mean all the assumptions are negative.

I'm not trying to discountenance her experiences, which are btw subjective and miniscule. I'm just trying to say that Africans have more image deficits than AAs and more likely to be stereotyped by Americans including AAs. Stereotypes are always alive!

I know you was talking to Shyone but there are people who travels outside of their country to to other countries and still have negative views of the country. Just like SOME Africans come over to America and still harbors the preconceived view of what America is about. We all have assumptions and opinions about EVERYTHING.

I have met/know African people who do not share the same views as Africans on this site as well as Africans who do share the same views. The same for Black Americans, some believes that Africans are their relatives and some believes they aren't. If all Africans thought alike there wouldn't be any civil wars amongst Africans and violence amongst Black Americans.


Yes, it's hard explaining to Nigerians that a Nigerian living in the US can be broke as hell let alone telling them that AAs are this and that. When you talk about AAs, Nigerians have more positive images of successful AAs like Oprah,50cents, Jay-Z than folks who are struggling in the hood. Folks in the hood hardly get any prime time spot on TV in Naija. Most Nigerians form their opinions based on what they see on tv---Minus wars, positive images of US dominate most Naija airwaves.Unlike in the US, where negative images of Africa dominate their airwaves. Going by the above stated scenarios, A Nigerian is more inclined to have a more positive image of an American including AA than an American would have of a Nigerian without any travel. Nigeria is one the countries that has a high favorable view of the US, while reserve is not the case.

Read my statements again - you will see that I DIDN'T LUMP as I intentionally chose the words a "large majority" ---- if you don't fall in that majority-----good for you.  My experiences with African men have been very good NOTHING NARROW about them.  From these very African men, those I dated and those I befriended every single one of them confirmed the negative image they had from their personal experience and/or their "heard of experiences" of AA's as a group.


You are still projecting your narrow experiences  as the standard occurrence in African vs AA relationships. You cannot claim to have dated or befriended majority of African men in the US or have you? So your experiences are very minuscule,so  when you make bold statements like majority of Africans have negatives views about AAs, you should have some facts to back it up. Having said that, Africans are more likely to be stereotyped in US than AAs-- Africans have more image problems in the US than AAs. In Nigeria for example, most people have  a very favorable view of Americans (black, white, yellow, green)> Nigerians who come to the US form their views based on what they see, but most Americans  form their opinion about Africans based on what's shown on TV without  going to Africa.

  Additionally, I have also spoken to Africans from Ghana, Zimbabwe, Malawi, Nigeria, Ethiopia, Rwanda-----the media has given AA's such a negative image and many of those same AAs have bought into that downward spiral----views of our ethnicity are global so I definitely can speak of this, the U.S. has been the largest superpower for as far back as I can recall and those of my ancestors can recall. 

Media outlets in Nigeria nay Africa are  not obsessed with AA's image problems. The news is not always tailored to highlight problems in AA communities, as such, most   Nigerians do not have preconceived bad image of AAs.

The U.S. pushed that viewpoint (read your U.S. History books) to other nations ----- so I can safely speak on a wholistic (not holistic - used more medicinally speaking) level.

http://www.merriam-webster.com/dictionary/holistic. In the context of holistic view ,  not wholistic view

  Globally there is a negative "prevailing view" amongst cultures including black cultures in 3rd world countries that AA's are undesirable on different levels.  As an AA I can state that without emotion as I like to face claims especially false ones.  I don't live in the dark----I want to see the hole before I step into it.  I'm not one to see something and turn away as though it isn't there.  If you don't answer the falsities they still persist.  I answer them right away.  Those countries that methodically without question kiss the azz. of the U.S. have bought into that view of AA's.

Your views are still skewed. Me against the world. To be honest with you, most people in 3rd world countries would love to trade positions with Americans nay AAs. I dont know what you are talking about.

@ OP - if a few measly miles of travel has put these guys off of you, your beauty, your intellect and your ethnicity------TRUST ME  that isn't the lot you want or need.  A man who loves to travel should be one of the qualities you like in a mate.  Travel expands the horizon on so many different levels --- all involved benefit.  If a small distance played a factor of showing "disinterest" - run from the despot, pathetic bunch.  I never met an African in the U.S. that saw distance as a hinderance

It's all about economics. Some people are not open to long distance relationships cos of time, money,intimacy and availability.

It means that beauty in the hall is not  evenly spread.  Most guys also think that the requirements to please a fine chic are the same with an ugly chic. So you have to leverage your position.