₦airaland Forum

Victornezzar:
Guilty conscience
D guy na yahoo boy pastor

It's a big lie that he did not allow people into his church building. I live in one of the suburbs close to Houston. My house was almost flooded. The man was on TV yesterday evening right in the thick of activities of coordinating relief efforts in his church. In fact he only had a polo shirt on as he was answering questions from a tv anchor. Now someone in Nigeria who does not have a clue about what's going on here was blabbing on what he was not in a position to confirm.

fidalgo19:
I think this govt is clueless. They want to leave everything for dangote to produce so he can become richer than the country.

These guys don't have economic teachers as they should go ND hire one asap to teach them about how an monopolistic economy will affect us.

I like the man for his business ideas and don't blame him but fed govt want to destroy this country.

Despite they haven't been able to fulfill campaign promises and job employment they now want to use a private business to fulfill it.

You point seem contradictory. How do you expect government to create jobs. Through govt jobs in public agencies, and at what value? Or improving operating conditions and encouraging private enterprises to create the jobs. In fact government appear to be fulfilling that aspect by supporting Dangote refinery. But the challenge is that we need multiple players on the scene.

Now, if a country need to be importing tooth-picks to satisfy local demands, that tell you our entrepreneurs are not meeting the expectations; or there are conditions that does not favour them. But we will all agree that an average Nigerian businessman will rather import a product rather than go through the tedious process of manufacturing in the face of local challenges. It is the area of local challenges and operating conditions that the government has failed woefully. We need to focus more on that.

freshest4live:
I wonder why others are not investing on this scale. He is not the only billionaire in Nigeria.

Abi o. Good response. Does Dangote have two heads or did the other so called billionaire businessmen carry their heads go do trade by batter.

Investors won't just throw $18 Billion at you. What's your pedigree and at what scale have you operated before going to them to invest in your business. Remember that this $18 billion is not just Dangote' s money. You as a businessman will have a solid business case why they have to come on board to be part of a business of that scale. Can anyone point to any Nigerian businessman that can go to foreign investors to seek such funds for such an industry. Remember he does not have a track record in any oil & gas business but he has the pedigree for running successful businesses in diverse sectors. Which Nigerian businessman has that.

So, think before you criticize negatively.

freshest4live:
It's majorly a Nigerian problem though, in Germany for instance, public services seem to be better than most private services.

I get your point. But public services are not run as businesses. So, whatever you can't run as businesses that has other private competitors is not likely to survive. And when you factor in the local challenges (so called Nigeria factor), that business is dead on arrival.

And it is not a Nigerian problem. Do your research well. It is a general belief in economics. Just as an example, in Canada and probably in many European countries where health care is run by government you will have to cope and wait in-line for months and even years for certain services unlike in the USA where health care is privately run. Not a perfect example, but it shows how things are with government run outfits.

iamchybs:
Dangote in a recent interview said contrary to popular belief, he isn't enjoying the political favours people think. He said no one can say he/she is doing him a favour in his business even the presidents of countries he has investments in.

I don't think these other businessmen have the same type of experience and preparations that Dangote has. Otedola, at this point, probably lacks that mentality and resources for a business of this scale and cost. An $18 Billion project is not something for a less than big player at the international level which Dangote already is, unlike the other businessmen you referred to.

freshest4live:
Dangote in an interview said...The reason he would not go into the telecommunication sector, is that there are too many top players already in that market.

And they know more about the business than he does. He knows how to choose his "victim".

Unclesamo:
Cant't U all see Obvious Politics being used here??


Dangote a good man indeed. God-father of MONOPOLY


so, d refinery ws too hard for the government to set up b4 now.


KONTINU

Government don't run businesses especially in a free market economy. Government-run businesses hardly succeed. You expect a government that can't run an ordinary airline to successfully run four refineries. Pay a visit to one of the govt agencies and see the kind of people you expect to run a business. It's a human nature challenge that social scientists will provide good reasons why such businesses fail.

soberdrunk:
As much as this refinery is a welcome development, i am not comfortable with this man's 'Monopolistic grip' on the Nigerian economy, it is not good for a fragile economy like ours.......

Is that is fault? I am sure you will do worst with this kind of mindset if you find yourself in his shoes. What are other so called businessman doing; And those who choose to hide millions of $$ in septic tanks.

[quote author=angelbulksms post=59876358]Sometimes, just one man willing, is all it takes to transform the economy of a country.

Interestingly, it might not even be the president of that country.



[b]Expand your Business online with a Website of your own. N20k only. Check

rodeo0070:
…Work accelerates to meet completion target
…Power Generation: 12,000MW
…Direct/Indirect Employment: 149,000
…Savings for Nigeria: $7.5billion
…To Generate Additional $5.5b

12,000MW of power generation can be added to the grid with the additional gas from our system…. We will be creating about 4,000 direct and 145,000 indirect jobs…save over $7.5billion for Nigeria annually…and generate an additional $5.5billion – Aliko Dangote

WHEN the bell that ushered the Minister of State for Petroleum Resources, Dr. Ibe Emmanuel Kachikwu, into his present office started to toll, the heart of many Nigerians leapt for joy that the nation’s four refineries would be fixed to refine commercial crude oil for domestic consumption. Kachikwu, who was also the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, promised to carry out maintenance of the country’s refineries within a few months.

Despite efforts, the capacity of the refineries has not been increased to meet local demand. Consequently, Nigeria continues to import a bulk of its petroleum products from the global market at the expense of its scarce foreign exchange.

But hope is not lost as the Dangote Group is set to complete its $12 billion refinery in 2019. The Dangote 650,000 barrels per day plant is perceived as a timely intervention to tackle the nation’s numerous challenges in the midstream sector of the industry.

Expectedly, the government has adopted the refinery as a strategy project aimed at enabling it to end its many years of massive importation. The reason is not far-fetched. The Federal Government has indicated that it relies heavily on the Dangote refinery to fulfil its promise to Nigerians. To this end, Kachikwu, who visited the Dangote Oil Refinery site at Lekki Free Trade Zone, in Lagos, said the government is ready to play its part as a responsible stakeholder to assist in making sure the project is completed before the scheduled date.

The minister, who said he was overwhelmed by the dimension of the project, explained that the present government had always believed that the private sector holds the ace in industrialisation efforts of the government, noted that, that belief has been reinforced by the Dangote refinery.

According to the nation’s new petroleum policy, Nigeria would move from oil as a source of income to fuel for economic growth. It stated that the petroleum policy intends to move the Nigerian economy away from exporting crude oil to IOCs for immediate cash benefits.

“Crude oil will not be exported, but a significant and growing proportion of government equity crude oil will be sent to local refineries (whether private or public).

“Under the implementation of the petroleum Policy, oil will be refined within Nigeria and further used to create value for the nation.

“The intention is to achieve a competitive supply of petroleum products; make Nigeria a refining hub; introduce petro-chemical industries to realise the full value from oil refining.”

However, the postulations of many observers are: will the Dangote plant be completed in record time? What support has been given by the government; And, what impact will it make on the nation’s economy?

Extent of work

A recent visit to the site of the plant in Lagos showed that progress has been made in many areas. For instance, the sand filling of the site has been completed. Work was ongoing in piling, targeted at preparing the ground for foundation laying. The construction of habour that would enhance import and export of various items was ongoing. Officials who expressed the management commitment to the project confirmed that efforts have been put in place to execute other segments of the refinery.

FG support

The government has indicated interest to support the completion of the project in record time because of its importance. Kachikwu who made the commitment, said, “the private investors have capacity to invest in different sectors of the nation’s economy.

“It is good to say that private sector is the answer to Nigerian’s problems with a project as big as this. The challenge I will give you today is that of time, I see your time for completion is 2019 December; but I am sure you will understand my desire if I tell you that the refinery component of this project should come earlier than the set date.

“I have made very firm commitment to Nigerians that I must stop importation of petroleum products by 2019 and I am going to keep to it. It is absolutely important that we do this early and given the feat that we have achieved in terms of speed of construction and I urge you to do all within you to achieve its completion before the due date.

“I am sure His Excellency President Muhammadu Buhari will be absolutely excited if he were to find himself, not only crystallizing the policy position we have taken so far, but also coming here himself to commission a facility, as big as this before the end of his first term. Whatever configurations your engineers have come up with, I urge that they go back to the drawing board and get me my refined products before your said date.”

Expected impact

The plant would likely make a lot of positive impact, especially because of its size. According to the President of Dangote Group, Dr. Aliko Dangote, the refinery will have the capacity to flood the domestic and international market with refined products. Also, the Petro-chemical Plant will produce 780 KTPA Polypropylene, 500 KTPA of Polyethylene while the Fertiliser project will produce 3.0 million metric tonnes per annum (mmtpa) of Urea.

“In addition, we are also building the largest sub-sea pipeline infrastructure in any country in the world, with a length of 1,100km, to handle 3 billion SCF of gas per day. We also plan to construct a 570 MW power plant in this complex. As a matter of fact, gas from our gas pipeline will augment the natural domestic gas supply and we estimate that an additional 12,000MW of power generation can be added to the grid with the additional gas from our system.

“We will be adding value to our economy as all these projects will be creating about 4,000 direct and 145,000 indirect jobs. We will also save over $7.5billion for Nigeria annually, through import substitution and generate an additional $5.5billion per annum through exports of the refined petroleum products, fertilizer and petro-chemicals. We envisage that these projects, which would cost over $18 billion, would be completed in 2019.

Local content

The refinery would also enhance local content development in Nigeria. Already, the management of the refinery has agreed to select competent Nigerian vendors that will participate in the construction of the plant from the Nigerian Oil and Gas Industry Joint Qualification System (NOGICJQS), the database of available capacities in the oil and gas industry managed by the Nigerian Content Development and Monitoring Board (NCDMB).

The Chief Operating Officer, Dangote Refinery Project, Mr. Giuseppe Surace, committed to this at the technical meeting held between top officials of the company and NCDMB at the refinery project site recently. He affirmed that there were many advantages in patronizing the local market, adding, “Nigerian companies will get the first right of refusal. We will procure anything that is available in Nigeria.”

The COO confirmed there were several Nigerian content opportunities in the company’s refinery and gas gathering projects but interested companies must submit competitive bids and have technical capabilities. He explained that the project is a private investment, hence the strategy is to get the best quality anywhere in the world at the most competitive price.

He advised local vendors to quote reasonable prices when bidding for industry projects, rather than believe that they would win jobs because of the Nigerian Content Act, irrespective of expensive quotations they submit. He noted that Dangote Group engaged the services of some Nigerian companies on its fertilizer project which had reached an advanced stage of development and was committed to do the same on the 650,000 barrels per day refinery project, which will be completed in October 2019.

The Executive Secretary NCDMB, Engr. Simbi Wabote, promised that the board will assist the company in the utilization of the NOGICJQS database, to ensure that it maximizes the utilization of local personnel, goods and services in the construction and operations phase of the project.

Beyond the DANGOTE Refinery, observers believe that the nation needs many modern refineries in order to meet domestic demand and turn the Gulf of Guinea (West Africa) into a major refining hub in the world. But with the efforts of Africa’s richest man, hope rises.

Source: https://brandspurng.com/the-promise-of-dangotes-12bn-refinery/

So far, Dangote seem to be the only Nigerian elite businessman with the eyes and mind for big things. And he is extremely calculative. He chose a perfectly right time to enter the oil and gas business. When he is sure all elements, nature and human, are in tandem to help actualize his goal in this risky industry. If he had made the same attempt decades or years ago, some saboteurs in government could have killed the project right from start. This man is a smart businessman. Just imagine a businessman who is in a situation where he is not the only one working and praying for his new business venture to succeed but millions of others are also hoping and praying he succeed because of the potential positive impact on their livelihood. I pray to God to give shower me such blessing.

This is a lesson on how to make a smart business move at the right time in the face of multiple opportunities.

win2kwire:
the cabal has taken over again? Did they ever lose control?
Osinbajo was acitng as a boy boy when he was acting president how do you expect this yoruba fool to be respected by mallams?

So, how do you expect Osinbajo to play his role as VP. To declare Oduduwa Republic and then lead that new country. Why does a Yoruba, just as I am, need the respect of a Malian, who have so far show he lack self respect. "Gra-gra" mentality can achieve nothing. There is a reason why the average Yoruba is tolerant and diplomatic. We do not have this "break it now if you can't open it now" mentality.

Wonder why it's only boxers who have sharp minds and the stamina., and who are not overtaken by anger that last long. The average Yoruba fits that, so does certain minorities in Nigeria. An average Niger-Deltan has a point if he or she choose to blow up all oil & gas facilities in the country. But only a fraction of them have toed that path. It's one thing the Easterners need to learn. It may seem hopeless and stupid but its outcome has been proven right by all the greatest books ever written. The other path may seem quick but surely uncertain.

dragon2:
..... "But one thing about them is that they believe they have a divine right to dominate the North , and if they dominate the North, (they believe ) they have a divine right to dominate Nigeria ".... Dr . Junaid Mohammed

It is only when people from other parts of Nigeria start believing in this line of thinking that it will become valid. It is a self perpetrated illusion. The only avenue through which they can impose that is via military dictatorship. The current north does not have the moral, intellectual, and political or institutional capacity to perpetuate that kind of self believe. These is not the days of Tafawa Balewa, Aminu Kano or the Saudana. What is the moral right of dominating if more than 95% of the northern masses are stark illerates and are afflicted with extreme poverty. So, it is the northern elites and oligarchs that are getting drunk on this line of thought. While they were busy getting drunk on this, they forgot to take care of their people, and succeeded in creating enemies in other parts of the country. It take a lot of wisdom not to toe the line of "break-up this country now". The poor Nigerians north, east, West, and South need one another. It is the elites that are the problem of this country.

morbeta:
Once again I repeat....


Igbo must leave the north it's a decoy; the real target is the impending Yoruba presidency- Now, let's explain it out.

The whole idea is to cause a civil crisis by chasing the Igbo's around in inner northern communities, this will then lure the military in, to carry out a coup, and end the Osinbajo nightmare.

The northerners have recently lost all their strategic allies (middle belt, Niger delta and Yoruba, due to their serial abuse) and Yoruba are poised to, and will constitutionally take Over from a sick and incapacitated Buhari.

They need a civil crisis to bring in the military and hold on to power, waste some time, before planning a fresh democratic process that will favour them yet again. A kind of reset button. This must be the reason behind the recent coup rumours, and in testing that water, they realized it will be unacceptable to the west, as military intervention is fading across the world. But if you throw in a law and order breakdown, it will be justified.

Remember, Nigeria military is an all northern affair presently.

If their plans succeed and there's a civil crisis via the "igbo must go crisis", they expect the international community to even plead with the military to step in and restore normalcy.

Make no mistake about it, the northerners can't threaten to scatter Nigeria, because they need the present state of things like oxygen. So, this is a clear classic decoy

Mine is to analyse.

That make good sense. But if they go that way, it's like shooting oneself in the leg. Though am tolerant of northern antics to an extent because I know their fears, and in as much as am aware of the possible outcomes. It's not because am Yoruba but because a United Nigeria will benefit everyone in the long-term if things are done right (restructuring, justice, mutual respect, law & order). And there is wisdom in been patient and calculating until the enemy get suicidal.The problem is the masses are fighting the wrong fights as usual. Rather than face the elites, people seem to be getting at poor souls as themselves.

About the possible coup. It will be a very wrong and desperate move. Surely they will be on their own. Nature has a way of getting back at deceitful people. The current northern president, as the last one is/was bedeviled by health crises. Not that I am happy about it, especially because am a Buharist, but because the souls of poor northern Almajeeres the northern elites have succeeded in keeping poor, down and low are fighting against them, not to talk about the poor masses in other parts of the country.

takenadoh:
After all the school i go cant boast of even 10 percent of the cheapest persons salary

It's not about going to school. I mean, book aside, what talent do you have that will make people pay to come and watch you or use their money to buy what you create. If you know how to create value, then I assure you it will seem like you have a money-tree in your backyard.

Cyynthia:
The Fed govt should get ready to arrest all of us because, we Yorubas are equally fighting for Oduduwa.

My Yoruba Muslim brothers can continue worshipping their Fulani lords for allI care. We Yoruba Christians have said NO to one Nigeria.

We are all behind Adeyinka grandson.

Oduduwa here I come.

You and who.is fighting for Oduduwa? Rather than face our well known enemies we are charging at the wrong target. Break Nigeria into 100 parts the same problems will persist if we choose to be docile and be non productive.

kinibigdeal:
It shows you were really a teen then, you can ask your grandpa why Nigerians troop out in numbers when IBB overthrown him. I can still remember the wide jubiliation nationwide. Things were so hard under is governnent, IBB loot Nigeria but he reshaped the economy. You cant defend the obvious

I will focus on the issue. Nigerians trooped out to welcome IBB because Nigerians were easily sold to deception. Just as most Nigerians are today. I was a Buhari supporter then because I knew they had the best interest of the country at heart. Truth, there were few mis-steps particularly the draconian decrees but it was a military government. So, what came out of IBB years we all know. What economy did IBB reshaped? Is it not the same IBB that admitted he could not understand why the Nigerian economy defy all odds and could not understand why the economy has not collapsed. All those programs including SAP were all bogus. Nigeria crossed the point of no return under IBB. It has been downhill since then. Those were the years many Nigerians began their entry into the world of 419-fraud, drug trafficking, and so many vices.

So people trooped out to welcome a deceptive head of state because they were largely not in control of their emotion just as most Nigerians are till these days. Most Nigerians sense of judgement is skewed. And people are paying for it dearly. It is for this reason I do not pity our people.

Nigerians want a quick fix without any form of sacrifice. It's all obvious today, and it's why a country of over 180 million people can hardly produce food to feed themselves. A country where someone earning minimum wage want to use the best phone or drive the best car. People should roll up their sleeves and build up the country first.

kinibigdeal:
Nigeria is in recession under PMB while Nigeria is not under GEJ, thats the difference. Buhari earn higher in 1985 but still put us in recession. Stop defending cluelessness. Buhari has always been a failure

Where you even born then. I was in my early teens then and good enough I was very aware of happenings in the country. In fact Buhari seem to be unlucky because he found himself in a similar situation as in 1984/85 when he led the military government after seizing power from a similarly corrupt civilian government. The country was in a terrible situation after oil price crashed forcing the civilian government of Shagari to implement what was called Austerity measures. Nigeria was already in recession before Buhari took power from Shagari. But we called it Austerity. Of course the civilians kept stealing. Like Jonathan, it was people under Shagari that robbed the country dry. Just like Jonathan, Shagari was a weak president. It was NPN politicians like Umaru Dikko that ran the show.

From what I am reading here it's apparent folks here do not know the real Sabbath day, which is the 7th day of the week. Are you Christians at all. The 7th day of the week is Saturday. So, that should be the Sabbath day. I learnt it was changed to Sunday by head of the church ages ago; by Constantine, emperor of Rome, who did so through a civil law. Sunday is the day meant to worship the Sun in ancient times by pagans who became Christians and they brought in their pagan ways of worship.

In early Christian church the Sabbath is on the 7th day. But Sunday is the 1st day of the week. Use Google to learn how the Sabbath was changed. So, if you truly want to worship God then make the Sabbath holy, not man-made Sabbath.

Pholuuu:
Thank you for that thought provoking comment.

We call people like them 'Ode" (fools) in Yoruba. Your identity has been stolen and all you do is sit back and watch. This is not about inferiority complex. It's about truth and facts. As a Yoruba myself, my interest is in knowing the truth. After reading about the story of the Lemba people several months ago I became more convinced that there might be other African tribes out their with similar connection to the ancient Hebrew, such as the Igbo people.

About the Lemba, it is not an ordinary connection. They are directly connected to the priestly House of Aaron. They are more Jewish than average Israelites living in Israel currently. And they are black. So, the ancient Hebrews are coloured people.

The worse part is that it is the Oyinbo people who came here to give us the bible, and we (some Africans) not knowing that the stories in the bible is actually the story of our forebearers. They turn Jesus to Oyinbo man and we all accept it.

RisingSun1:
Wetin concern Afonjas if igbos are Jews or not. After all they said they are fallen angels we didn't complain.


David Reich is an Ashkenazi Geneticist at Harvard Medical School he said that E1b1a DNA is the only genetic signature
in all Jewish populations. E1b1a is the real Israel DNA. Now Igbos are around 97% E1b1a. The problem is you have people testing modern Jews and assuming that they are the bloodline of ancient Jews.

Majority of these white Jews you see today are people who converted to Judaism in 11th century. They are not the ancient Israelites. So there is no way Igbo DNA will match with them. The ancient Israelites are full blown black people.

Here is what King Solomon the son of King David said in the Bible.

Song Of Solomon 1:5

"I am black, but comely..."

Good point. The problem is some people have stole the identity of the true Hebrews. It is crystal clear what is happening and it is even stated in the biible.

Revelation 3: 9
King James Bible
I know thy works, and tribulation, and poverty, (but thou art rich) and I know the blasphemy of them which say they are Jews, and are not, but are the synagogue of Satan.

This has been predicted thousands of years ago. So, which people get poverty and tribulation pass for this world?. Of course, not all Africans have Jewish heredity.

About the Lemba people, 50% of their male carry the Cohen DNA as to 10% of general male populatiion in Israel. The Igbo people allowed the wrong people with pre-conceived motive do the test. What database was it compared against. Probably the database of those falsely claiming to be what they are not. The real Hebrews are likely coloured people, which include blacks.. We all came from somewhere, as a Yoruba, i learn we originate from the Nubians who at some point rule over Egypt.

wtfcoded:
Why dey go wan force comot oil 4rm where e no dey
It's like drilling water in a desert.

If you understand the process of petroleum formation and migration then you won't be saying that. That same desert has close to a tropical vegetation just about 10,000 years ago. Petroleum formed in one area beneath the sediments can migrate thousands of kilometre away under the right conditions. Ask why there is oil reserves in Sudan, Libya, Algeria, and other countries in similar desert region.

Milestones:
HERE COMES THE THOMAS OF OUR TIME, THANK GOD YOU ARE STILL ALONE ON ALL ISSUES AS YOU HAVE ALWAYS BEEN. TAKE A LOOK BEHIND YOU NOBODY IS FOLLOWING YOU. NO CHOP CHOP!!!! YOUR BANK ACCOUNTS ARE DRYING UP, WHAT A PITY!!!

Man, you make me laugh. So it's about who follow you not on the basis of logical reasoning. It's not accidental that Nigeria turn out the way it is.

When you are doing a comparison, you compare apple with apple. When you don't deal with numbers and lot of information for a living then it easy to just gloss over things.

ProWalker:
The primary index and denominator here is the Rate of Exchange of Naira to other foreign currencies.

No it is not. An ideal denominator here will be either the total import in Naira for each year or the total foreign exchange earning since that determined how much $$ is available to drive import.

dokiOloye:
Import duty on cars has been 35% since d days of GEJ.
Now,somebody who imported a 2003 Camry paid like 320k naira in 2014.
But now,while d duty still remains d same 35%,someone who imported d same will be paying like 450k cos d duty was being calculated wt a dollar value of 197 naira to one dollar in GEJ's time,but now,they calculate wt a dollar value of 300naira to 1 dollar.
U get it now?

Got your point. But it's not as straightforward. Obviously, total import for Buhari years will be less than in Jonathan years for obvious reasons, drop in foreign exchange earnings and rise in cost of US$. Meaning less imports. If Customs generate more revenue under this situation or had comparable revenue as Jonathan years, then the agency is performing better. So, another way is to divide Customs revenue for that year by Nigeria's total import (in Naira) ifor any of those years. That will clearly show how customs perform for the two periods. That will allow for readonable comparison.

dokiOloye:
Nigerian Customs always charge their duty based on d dollar equivalent.

But it doesn't change the fact that it is an import paid for locally in Naira. It's never done the way he presented it. That's the point am making. He is misinforming people.

dokiOloye:
Nigerian Customs always charge their duty based on d dollar equivalent.

Actually he is allowed to convert to US$ but because US $ fluctuates a lot here he need to normalize that number by first dividing the total foreign exchange earning for the year by the $US value for that year. Then he can use whatever number he come up with to divide Customs revenue for that year. That's more reasonable but it may not be the typical way a trained Economist will do it.

ProWalker:
Honestly speaking, I'm truly sorry, but you are not making an iota of sense. Sorry.

Obviously many folks here do not understand the purpose of an index.... You need an index to compare different years. That's the point and the right way to do it. Not throwing numbers out there blindly.

You don't use something that fluctuates a lot to make this kind of comparison. You first need to "normalize" that number. That's why I suggested dividing total foreign exchange earning by us$ value for the year. Since its that which determine amount of $US available to make import for an import dependent economy like Nigeria, which of course determine level of duties collected by Customs for such imports. Probably not the best way to do this but it will make more sense that what that "politiciam" threw out there.

jjman2322:
Yup.. most of the guys here dont know what FORM M, PAAR, Assessment, etc are... thats why they're arguing blindly..

Im actually given you first hand information as I run a company which heavily imports raw materials from India and china...

The fact that you run a company does not mean that it is right to directly divide total customs earning by value of US $ to compare performance for different years. Even if you have to do that you need to divide by a realistic common denominator, an Index that apply across different years. If he had divided total $$ revenue by US$ value first and then use that to divide customs revenue..then it may sound reasonable but probably not the way an economist will do it.

My point is that he is wrong. Form M or no Form M.

ProWalker:
Ignorance displayed with so much confidence.
Ask for a copy of Form M and PAAR ( Pre-Arrival Assessment Report) issue by Customs to access duty payable and you will see how it is computed using the FOB (denominated is forex) to generate the major part of their revenue.

Amount of duty payable is based on US$ value of product imported. There is no direct connection between this and value of US$. My point is that he is doing the wrong thing to score cheap political point. That's misleading. Are there no trained Economist on this platform?

This is what young Nigerians should be discussing..not some fake guys in Gucci apparels.

ProWalker:
Ignorance displayed with so much confidence.
Ask for a copy of Form M and PAAR ( Pre-Arrival Assessment Report) issue by Customs to access duty payable and you will see how it is computed using the FOB (denominated is forex) to generate the major part of their revenue.

Answer this questions.

Are duties paid on imports or export?

What does the value of US$ in an economy indicate?

Don't be fooled by this faulty analysis. Customs fees are not paid in US dollars and the revenue are not derived from sale of products and services to foreign buyers. It is locally paid duties that reflect level of business transactions across the border or ports.

It is stupid to convert the numbers to US dollars and use that as an indicator of Customs earning or performance. He is not an economist and neither am I but common sense is not necessarily common especially when dealing with a populace that are not generally mentally inquisitive.

Ideally you do this kind of comparison using an Index. The value of US $ isn't an index in this situation. If he want to use the US$ value then he first need to divide Nigeria total foreign exchange earning by value of US$ for each year he wants to compare, and then use that as an index. But since the value of $$ has more to do with level of export rather than import; and import duties are Customs main source of revenue, it is still not ideal to use value of US $. But I think there is a more appropriate way of doing the comparison.

Can someone help answer thes questions
What does thus guy do for a livung?
Is he a musician, producer or a promoter?
What thing of value has he create in his life?

Not sure if someone who worked hard for his momey will be doing the same