₦airaland Forum

This is sure a wind of change in any language.  It will make sense to start with the water-tight cases who have fewer 'godfathers' and accomplices rather than start with the ones that will bring the whole exercise to an abrupt halt!  It will get to them eventually!

The amazing thing though, is that just a few weeks back the issue was that the EFCC had turned to a lame duck and could not indict or arrest any of the corrupt ex-office holders, at this juncture no one cared if it was the 'big' boys or 'small' boys, opposition or ally.  When the 'big' boys start trooping into EFCC custody, the argument will shift to 'oh they are not the inner, inner caucus'.  

Let's give it a break.  Whosoever they have started with, in so far as they have a corruption charge to answer to, is good enough in my book.  It's a marathon not a sprint!

As has been noted above Okonjo-Iweala did not lobby for her post but was lobbied by the government. That not withstanding she deserves every cent she got for the immense contribution she made.

At issue here though is the apparent violation of the constitution, a way around it would have been to pay her the stipulated ministerial salary like everyone else, and the balance as a consultancy fee to any company of her choice worldwide.

The govt. has legal advisers who's job it is to point this out to the presidency and proposed a clever way around it. Afterall, we all know how ingenious they can be when it comes to other issues!

I think our 'traditional' outfits (agbada, babariga, wrapper etc) are cool and elegant, and should be worn with pride and dignity.

But, it has no place in business, especially international business.  Politics is business.  The President of a country is, in effect the 'CEO' of the country and should kit out like the CEO of a multi-national would.  If it is a ceremonial or informal occasion or event then that's a different ballgame.  Our traditional outfits do no look or portray a business-like disposition. 

Here again as is the norm with Nigerians sentiments hold sway!

@laudate
Government owned businesses that 'thrive' are most likely not government managed.  And in most(if not all?) cases, as would have been the case with Bluestar and the refineries, the govt. is not the majority shareholder.  

The British govt. does not currently have any shareholding in BP, they sold off most of their remaining stake in 1987 and by 1995 were out. http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/F/FOI_2002_2006_Introduction.pdf.  And they actually seem to be in a rush to dispose of their remaining parastatals including the Post Office(this has been 'sabotaged'  so far by the Unions)!  

Unless we know something they don't know, this surely is the way to go!

@Jonny
They are going to have to offer Dangote and Co a 50% discount to take it back in a year's time!

Dangote and Co. (Bluestar) were the highest bidders and thus won the rights to acquire the refineries!  The bid process was not private nor closed, any Tom, Dick, Chika, Usman or Tunde could, and should have, put in a higher bid if they had the guts and the money.  Perceived instability (political, regional, religious etc) either real or imagined does not instill confidence in the business community both local and international.  $721m is a huge and risky commitment by any standard, and if Dangote and Co. were willing to take the risk, while non other(s) both local and international were willing to, they should be applauded.

It goes without saying that Dangote and Co. would have turned the refineries around, and have them operate at optimal capacity, thus making petroleum products more readily available and consequently bring down the price.

angel101:
The refineries go to a company ready to serve the country and their shareholders. not one doing us a favour. Thats of course assuming that NNPC can honestly not do the job.

Which Company (or Companies) are you referring to here?  Where were they when the bidding was on?  Would it have been more acceptable if the Kaduna refinery had gone to the Chinese at $102m, rather than the $160m the Bluestar consortium paid?

http://www.businessdayonline.com/?c=45&a=13345

angel101:
So what? It's just as well since they imagined they were doing the country a favour!

So, what do you propose?

This is what short sighted sentimental Nigerians wanted.  Now they have it!

http://www.vanguardngr.com/articles/2002/cover/july07/19072007/f419072007.html
http://www.thisdayonline.com/nview.php?id=84005