₦airaland Forum

Donzman,
I was making a reference that a bank could afford to buy oil which accounts for about 90% of foreign exchange earnings. My reference to oil was based on production output not our reserve because I cannot place a value on it ok. May this is the misunderstanding. Common understanding of a GDP is consumption + investment + government spending + (exports − imports) and yet we have 50% of Nigerians living under $2 dollars a day. I wonder how much someone who earns that amount would worth anyway. Mind you this was a response to the fact that we are so populous and rich and I said that S/Africa has 4times higher GDP than us even though it is 1/3 of our population. I never said that S/A bank is worth more Nigeria.
Besides, it was a response that Paris Club/IMF would not grant us debt relief because we did not qaulify under HIPC

so you dey look for no. abi. the answer is yes

Afam,
Is our national GDP not worth more than our oil? It shows you that a bank in S/Africa is worth more money than half of our population in terms of consumption+investment +government spending+ (export-import) yet we are a rich country. Let's put these numbers in perspective. Our oil sale is about $30 billion and a bank is worth about 4 times that amount. If 60% of Nigerians live under 2 dollars a day, I wonder what it takes to make over$100 billion dollars. It also shows that we are not a rich country as you espoused.

If we are a rich nation, about 70 million Nigerians would worth about US $14285.71 each in order to have about$100 billion collectively, or simply put that a bank is worth more than 60% of what Nigerians have. Does this show a rich a nation?

@Afam

^{No bank in South Africa can afford to buy all our oil, this statement is so fundamentally wrong.}

Ans:  Standard bank group has an asset value of over 109 Billion dollars as compared to our national GDP of $188.5 Billion )
https://www.cia.gov/cia/publications/factbook/geos/ni.html
http://www.forbes.com/finance/mktguideapps/compinfo/ForeignCompanyTearsheet.jhtml?cusip=B030GJ7

_{Nigeria did not qualify under HIPC because the world bank and IMF know too well that Nigeria is way too rich not to repay the debts with crazy interest rates that may keep the debts being rolled over for eternity.}  
ANS:   Nigeria is not a rich country, but has the potentials to be rich. We are in the lowest percentile of UN  Human Development Index. Let's not make assertions we cannot substantiate. The interest rates were agreed upon by Nigerian greedy officials, they had an obligation to say no. Instead, they took loans hoping that they would be kept  in Swiss accounts.

_{I do not know where you got the idea that Iweala's performance should be used to judge OBJ, my point is that finance ministry had direct influence over the economy of the nation and if people are praising her while she was there then it means that she must have done positive things in the Nigerian economy and if that is the case then it is illogical for anyone to say that the economy under OBJ has been a mess unless Iweala is being praised for being a woman and not her performance.}

ANS:Iweala was like a treasurer and maintained account records of all government agencies, but it was  the president who had the responsibility to ask Tony Anenih what he did with N350 Billion Naira appropriated for his ministry, even though we still have bad federal roads . Should Iweala ask Imoke how he expended his allocation to improve power generation in the country. In capitalist economy, its the central bank that controls the economy not ministry of finance. Iweala did a great by being accountable and other ministries failed, that's why her success was not felt across the board ok. No doubt OBJ's appointment helped her image globally, but she is not a politician but a technocrat.

_{I have very good reasons to rate OBJ over 50% just as you believe you have yours to rate him lower, your choice. And by the way, I do see over 80% of power supply everyday and make up the rest by using an inverter backup system that we build to gurantee uninterrupted power supply for close to 2 years now both at home and in my office.}

ANS: Yes, you have the right to rate OBJ above 80% but can it be subjected  to a coventionnal mathematical test? ie 50% in all 29 ministries or 80% in 16 ministries?  The very fact that there are some people who still believe that the world is flat does not make it true. There are some conventional facts like Line of equator is 0 degree, 24hrs =a day. It does  not prevent others from generating their own opinion.

Afam,
If Iweala performance could be used as a yardstick to access OBJ, then it will all be possible to use Borishade's performance as a yardstick to measure OBJ too. Let it be known that OBJ is not a minister but a president who presides over 29 ministries. I wish that you would tackle my previous points on this topic.

The very fact that many Nigerians did not know Iweala before her Job in Naija does not mean that she is not a global economic player. She had not worked in Nigeria, I wonder how many Nigerians in diaspora Nigerians know of. Let's not be fooled with this most populous black nation, who cares about population? "Nigeria" in World Bank and IMF matters is a big liability. Let's get over with this population thing unless we are over saturated with NTA propaganda. S/Africa is 1/3 of our population, but their GDP is 4 times bigger than Nigeria's. As a matter of fact, a bank in South Africa can afford to buy all our oil. Iweala was able to speak their language and she got the job done. Nigeria originally did not qualify under Heavily Indebted Poor Countries (HIPC) category and she pressed and got a good deal for us. The very fact that some people may not agree with her policies does not make her an unknown figure. Bretton wood Institutions , Paris Club and multilateral institutions will always respect and trust someone who has a global market experience like Iweala.

its because he can do anything as in everything not like other Naija guys, that's why he over streched his sexuality. May be he can do men too. You are a prelude to his wayward life style. My GF insists on party with her friend, she will be fired instantly.
Baby, unstrap yourself from that guy's bondage and fly. Even if he licks it like honey. u can do better

Terracota,
You have to cross check your story. OBJ did not bring Okonjo Iweala to global prominence. Why didn't other past ministers of Finance negotiate for a debt reduction or rise to global prominence. If it were possible, Nedi Usman or Adamu Ciroma could have done it. I wonder if they would have gotten Gordon Brown's attention because of their track records. Iweala did not carry a Nigerian baggage that would have been counter productive.
By the way, OBJ did not hire Iweala in the first place. She was on sabbatical and came to work in Enugu in conjuction with Soludo, Dr. Ogbu and Co, then the presidency got hold of her to work on budget matters, free of charge- only her accommodation and feeding were paid. She was done, wanted to go back and OBJ asked her to stay, She accepted the job and it happened that Dept of Budgeting would reside in OBJ's bedroom and she resigned, Baba had to agree on her condition. She was calling the shots when she was working for OBJ, and we all know OBJ as someone who does not like his authority challenged

I think a point comes when we are required to make a decision. you either like women or men not both. This is a western acceptance of polygamy.

<sub>^{If you live in abroad, may be in Europe, The Americas or anywhere, and you desperately need a wife from home, please follow these rules.
[sub]}
1. Do not le</sub>t any lady you are interested in, know you live abroad in the first place, if she must know, tell her you are in Ghana or uganda etc. [/sub]I i buy this idea

_{2. Do not select lady who is well versed in the use of the internet, these are ladies who are advertising themselves nakedly on different websites to dupe unsuspecting men, they will jump on you and dump you as soon as they relocate with you.} Nope because Naija women are not all that difficult when compared with oyibo girls, if we can do 60% of what we do for our oyibo girls for Naija girls, there will be few problemsx

_{3.Do not allow your relative or family member, may be brothers or sisters to help you find a lady, they will always choose someone they can use to get you.} because I no be Isaac, you have to choose your queen, so that you can diagnose her sickness when the symptoms manifest.

4. Do not allow your friends who live abroad with you to suggest someone living in Nigeria to you, it may be a ploy to bring his girlfriend over especially if he is not documented. You be mumu, may be na your friends go do your bedmatics too

5. Avoid ladies who are University graduates if you can, they will pretend until they relocate with you, then got awares of the female friendly laws in Europe/USA and dump you as soon as possible. Many of them will end up quarelling with you and becoming very argumentative and arrogant. A blind man cannot lead a blind woman, a graduate MUST always a graduate if possible. Birds of the same feather flock together.Non-graduates are most likely to be graduate phobia.

6. Avoid sending money to your fiance or the lady you intend to marry, as you will soon become a money-miss-road, ''a laughing stock'' It depends, if your families are fully aware of your relationship, its advisable to send some money for upkeep. No money to girlfriends.

7. Avoid any lady that attends flashy pentecostal churches, this may only be for pretence. I will not marry an irreligious soul.Devil can appear in different forms.

8. Insist on all medical tests before any wedding at all. I don't know which planet you live in, church officials even insist on that before anything can be done. My family will be the first to demand it.

9. Please, forget about beauty, insist on a very sober lady with good characters, i.e. avoid sentiments. Beauty is in the eyes of the beholder. No true benchmark 4 measuring beauty because European perception of beauty is different from Africa's

10. Avoid any lady that tells you she can manage a bottle of beer etc, you may be courting a prostitute. But you can handle an Oyibo woman who drinks and smokes. My sister's best friend who treats us as her siblings, drinks and she is the best person i have ever known. Does it mean that she is irresponsible? NO

11. Please, do not search for a Nigerian wife on dating website, you may not live to regret it. I have never done this one, don't know

12. If you finally visit Nigeria to see the lady you choose , please do not jump on the bed with her, try to avoid sex with her, she may coat herself with ''Jazz'', to tie you up. " Boy Jazz no de reign, Go ask Chris Uba about his jazz experience with Chris Ngige'' Ngige did not die. Oyibo people are busy building airplanes and computers and we still think that there is a supernatural way- jazz- folk tales.

13. As you are avoiding sex, please make sure you check all the body parts, like the breasts, the tommy area, or you may even ''finger'' the private part to ''carbon date'' her experience and dating age. How can you test your product without unmasking it? This sounds like Sunday school teaching.

14. If you can avoid a slim lady with very bursty chest, it will be better, because European men have great taste for these qualities or else you may end up finding your neighbour on top of your wife, or having a mullato/halfcast child. Some times, I blame our women, they let men have it easy. Oyibo woman will tell you how she wants to be treated sexually. If you lose slim woman, then you are not doing it right. Do the same thing you do to Oyibo women in bed to Naija women. I cannot take my eyes off slender/slim and well endowed women because they are a sign of what I am about to devour.

A WORD IS ENOUGH FOR THE WISE. , This piece was compiled based on my personal experience after living in Europe for 13 years, take care..
Wisdom could be formal or informal. You just gave a formal knowledge of your experiences.

Many marriages are breaking up because of finances and some men are killing their spouses and some women are sending men into bankruptcy in the west. I think pre-nuptial agreement is the way to g

Afam,
I wonder what was you benchmark in measuring OBJ's performance. He performed above 50% in these underlisted ministries? Then Naija is now small London. 50% of Nigerians now have electricity or that all Nigerians have at least 12-hour electricity every day. Our industries are now performing at 50% capacity or more, even though Michelin is winding up operations in Nigeria. That OBJ has performed above 50% in Aviation that had about five plane crashes? That OBJ has performed 50% in health that his wife had to die in Spain. 50% of federal roads Nigeria are pot holes free and motorable. That 50% of nigerians can trust the Police with their lives. That OBJ's government has adhered to Supreme Court's rulings that were/are unfavourable to his policies?
I am not Chike Obi, but 50% is his overall performace in all these ministries not on finance and IT. I rest my case

1.

Agriculture & Rural Development
2.

Aviation
3.

Commerce
4.

Communications
5.

Co-operation and Integration in Africa
6.

Defence
7.

Education
8.

Employment, Labour & Productivity
9.

Environment
10.

Finance
11.

Foreign Affairs
12.

Health
13.

Housing and Urban Development
14.

Industry
15.

Information and National Orientation
16.

Inter-governmental Affairs and Youth Development
17.

Internal Affairs
18.

Justice
19.

Petroleum Resources
20.

Police Affairs
21.

Power and Steel
22.

Science and Technology
23.

Solid Minerals Development.
24.

Sports & Social Development.
25.

Tourism and Culture
26.

Transport
27.

Water Resources And Rural Development
28.

Women Affairs
29.

Works

tell it to the ghosts. Naija has not lived up to its own bargain. imagine you leaving with your uncles, helping out, being obedient and respectful and all your uncles do for you is to cause you pain, never pay for expenses and rip you off even though your rich dad pays for everything. u don ever get anything from naija? even pure water. NO

any filling station queues around your area? Or where did you get petrol this morning

I thought Yabatech, Kadpoly and IMT were premier poly institutions. Why is it that there is no polytechnic in the South East or South/South that was found eligible to be a university. Tribalism is always a factor in Naija.


http://odili.net/news/source/2007/jan/18/209.html

this argument is about Okojo Iweala's performance as a minister of finance not OBJ . OBJ is judged as an overall overseer of all ministries. Would you hug your kid who got an "A" in English and got "F's" in other 8 subjects. Acceptable benchmark of performance is at least 50%, would you say that OBJ has performed up to this level? Remember that nobody asked OBJ to take this job, that's why he does not have my sympathy,because Iweala resigned when she was not getting her way.

Nigerians are nicest people ever, compare OBJ's likeness with Adams Oshiomole, Most people like Adams irrespective of their backgrounds. People dont dislike OBJ they dislike his policies that dont have human face. very many people were happy that he came on board in 1999, but he took over and squandered that political capital.

A lot of Nigerians are leaving in Ghana do you know what they do? Their universities are far much better than Nigeria, many Nigerians are in their universities, do you know any Ghanaian in Naija universities. They have one of the biggest companies in Africa that trades in S/African Exchange, london Exchange and New York echange. First African company to be listed in NYSE. Anglo Gold. They have good business practises than Naija.
Their leaders are less corrupt than ours. I read Jerry Rawlings interview on Ovation, where he said that he owned fairly/tokunboh Jaguar- his best/favourite car. Imagine how many LG chairmen in Naija that can afford 2007 Jaguar. all of them.

I watched Fmr President , Rawlings on Travis Smiley's Show, he was a class act, very articulate,intelligent, very confident and was very engaging in his interview. I was wondering why cant Nigeria produce this kind of president, not even IBB, Buhari , OBJ would compare to him.

Why would we compare ourselves with Ghana even though someone mentioned that British prime minister does not have a jet. We always feel that we are better than smaller countries and feel its unfair to compare us with bigger ones. Britain is a super power but its PM does not have a private jet, why would Nigeria have one? Answer: because we dont pay taxes- its not our money.


https://www.cia.gov/cia/publications/factbook/geos/gh.html

https://www.cia.gov/cia/publications/factbook/geos/ni.html

Afam@ What's your parameter for positive achievement or your definition of positive achievement?

that's why police will always collect bribe. No 20 naira, loja me now N50. why cant FG pay ambassador instead of paying them and attaching dressing allowance. What can N133,000 do for someone in Naija. Police are supposed to paid at least N300,000 per year.

is not worthy of a new direction since Nigerians have lived and in Naija for the past 46 yrs without changing a freaking thing. I think its high time we looked in a different direction since Nigerians have not turned things around. By the way, the political class is taking docile Nigerians for a ride, because they perpetuate all types of atrocities on them and yet they do nothing.

Achebe and Soyinka dont have their Phds ok. College tutors in the west are commonly called professors while in Nigeria, you may have your PhD with out being called a professor even though its not an academic certification.

people should not make baseless statement without verification. It seemed that you now concurred with your source in Naija. Its high time we acknowledged that we are not mitochondria of knowledge on this forum

But this post did not specify which one Yar'dua had hoped to apply for.

not 4 me because i like them black and natural. my weakness- black colour with a reflective index and sparkling dentition.

January 5, 2007
Culled from Nanka.Org

http://www.nanka.org/Bunmi.html

not true guys , u dont need a phd to lecture in foreign universities, you can be still be teaching while working for your phd. besides i dont think that achebe and soyinka have their phds.

Why put the cart before the horse. get married first and put her name in whatever. These days marriages no be silver bullet, cos its a 50-50 chance. That's why I feel that there should be a law to give back every gift from a marriage whenever it goes south. Cos its like an investment that the union will be forever. donts investor get back some investments whenever a company is about to go under?

Huge business in Naija. i know some guys who import bikes and parts from china and they are making good money. North is a very good place to cite such a factory.

@Ishmael,
Do you mean that Northerner do not take jamb or there are more northerners in universities in Naija even through the back door process. The point is that there are more Southerners in universities in Naija than northerners because there are many southerners in Northern universities than northerners in southern universities. I do not blame them for accepting the census figures since they rejected polio drugs and embraced death. Brother education is the key, it opens the doors to success. We are going to have these problems all the time until states pay generated revenue taxes to the central government not by apportioning southern wealth by population.

its because they have not built a literate society that would challenge or engage their govts. They run things according to rules and norms of their society.

Iyke-
_{NB. I hope this does not degenerate into name calling. Let's moveon.com} Please could you re-read this post to tell me where i said that you called names.
By the way, rebuttal is not telling me that if Transcorp had published earnings that I would still be a doubting Thomas or First bank and Union bank published earnings are not verifiable or auditable.

iyke-d

I am not a repository of knowledge, I wanted someone who would discredit every bit of my analysis, not to run away from them. This is why we don't progress in naija, can you convince a skeptic like me why you invested in Transcorp? Can you confidently address my concerns to make me see what you have seen. If this is your measurement of "ignorance" I am really happy to substitute it with my middle name.
good luck

NB. I hope this does not degenerate into name calling. Let's moveon.com

My point - why is power sector not deregulated like Telcom sector? This will open up alot of competition and the govt would stop siphoning our funds through that channel. I think we need real analysis of expenditure on NEPA vs delivery. Can someone tell me what was their last year's budget and how their services improved or tanked. The problem is that corruption is too high- from Bola Ige's fixed deposit to Imoke and Co.Why not give the job to a technocrat not a political jobber.

I think people are putting their energy where their investments are . Good posts from widywendy