₦airaland Forum

FreeGlobe:
lol... To the average yoruba person south west starts and ends in lagos whereas awolowo did not contribute anything to the development of Lagos

omonnakoda:
What do you mean by fiscal federalism in Nigeria. When you say resource control what do you mean? To me those are just words.
The subject of this thread is that the FG is borrowing money . What does your proposed solution have to do with that. Yes you may want to see fiscal federalism and resource control whatever that means but that has nothing to do with the subject of this thread i.e a shortfall in federal revenue.
FYI Nigeria practises fiscal federalism and resource control. The real discussion is to what percentage and extent.

ABUJA — The Minister of Finance and Co-ordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, yesterday, put to rest fears of immediate removal of fuel subsidy, as she confirmed that N145.2 billion provision was made for it in 2015 budget.

https://www.vanguardngr.com/wp-content/uploads/2012/04/Okonjo-Iweala3.jpg

Speaking to newsmen in Abuja, she said: “I want to clarify that there has been some misinformation that has gone around in the media about the fact that the National Assembly passed the 2015 budget without provision for fuel subsidy. It is not true.

“It is important that you note that the National Assembly approved provisions of N100 billion for PMS (Petroleum Motor Spirit, otherwise called petrol) and N45.2 billion for kerosene subsidy. So, it is not true that they passed the budget without provision for subsidy.”
How that budgetary provision would meet the needs would be a challenge for the in-coming Gen. Muhammadu Buhari administration in the months ahead.
Managing tough cash flow

The minister emphasized that managing the economy since the crash in oil prices had been very tough for her team which had to adopt various strategies to keep the economy running.

She said: “As you know, I have been honest with you since the current economic problems started. I would like to repeat: we have serious challenges, things have been tough since the beginning of the year and they are likely to remain so till the end of the year. We have serious challenges but we also have strengths and if we do the right things we can keep a steady course and emerge out of the current situation.

“As a result of the 50 per cent decline in oil revenues, the country has faced a difficult cash crunch and the Federal Government has focused on keeping the economy stable and the government running through a series of measures. We have front-loaded the borrowing programme to manage the cash crunch in the economy.

“In January we had a deficit in terms of the money we had and the expenditure we had to carry out. So we had to borrow to add to what we had. In February, it was the same.

“In March, we were able to have more internally generated revenue that enabled us to offset but in April, we had to borrow to cover up some gap. This is how we have been managing the economy on a month-by-month basis.”

Okonjo-Iweala said the Federal Government had already utilised more than half of the budgetary provisions for borrowing in the year, in the first four months to pay salaries and provide funds for overheads.

Govt borrows N473bn to meet up with recurrent expenditure

She said: “Of the N882 billon budgetary provision for borrowing, the government has borrowed N473 billion to meet up with recurrent expenditure, including salaries and overheads. No capital release so far.

“Traditionally, the first part of the year witnessed low revenue because tax receipts come in from the middle of the year. This has compounded the challenges caused by the steep drop in revenues due to the oil price fall. As a consequence of the revenue challenges, there has been no capital budget release so far this year but we have kept the recurrent expenditure going.”

angelsing:
If u criticise other state governor the way u criticise Fashola, the country would have been better today...Every time any new edifice is commissioned u always come up with one excuse or the other to discredit him...is either u are talking about how they inflated the price or u are posting a picture of a school...I don't know if u criticise for just the fun of it but do it wisely so it does not come across like u are an Enemy of progress

ayindejimmy:
In ur hate book... How is he taking credit for it.

That he was called to inaugurate it? Ok, they shouldn't have called lawyer-governor, right?

On the Lagos Court of Arbitration building on Lagos Island, Fashola said that the compelling need to resolve trade disputes locally rather than travelling to London and Paris informed the siting of the centre in the state.

“This is the place for dispute resolution. It is the Lagos Arbitration centre. We could save a lot of money and create employment through this court. We lose a lot of fund to other countries in terms of arbitration. When dispute arises in the country, the preferred place is Paris, France or London, United Kingdom. And there is nothing special there.

“All we need is to create a centre that will have the necessary reputation. We have the personnel because some of the best arbitrators in the continent are Nigerians. We also have the economic for the arbitration because a lot of construction, developmental and Public Private Partnership, ( PPP) projects are ongoing. And dispute from there could be resolved here,” he added.

Fashola said the court would also create jobs for many residents, stating that through the initiative the state government has created a local destination for the sub-region as the court would be the destination for arbitration for West Africa.

“We already have the international recognition for this. All that is left is to complete the project. We have received some arbitration funds also. And the next three weeks, the building will be ready for commissioning. We have at least 11 rooms here,” he said.

Mogidi:
How can he hand over something he did not build?

Location:

LCA

Suite 105 to 108 (West Wing), 1st Floor,
City Hall, Catholic Mission Street,
Lagos Island, Lagos.

http://lagosarbitration.org/

Tel: +234 01 212 068

hazyfm:
Free me

A Nigerian who lived like a king and rubbed shoulders with the royalty in Australia as been sentenced to jail after it was discovered that he ran a drug and crime syndicate.
Published: 14.23Isaac Dachen PrinteMail
Chief Maximus Osuamadi with the Australian deputy PMplay
Chief Maximus Osuamadi with the Australian deputy PM (Telegraph UK)

A well respected Nigerian business man who is also the Eze Ndigbo of Australia, Chief Maximus Osuamadi, has been jailed by Sydney court for being the brain behind some high profile crimes and running a drug cartel syndicate which operates between Nigeria, China, Brazil and other Asian countries.
According to the Telegraph UK, the Nigerian community leader was actually the boss of a well run West African crime syndicate, before he was busted by underground cops.
In a special report carried out by the newspaper, Chief Osuamadi was a highly successful businessman and respected community leader of Sydney’s growing Nigerian community.
Read the report here:
"The Chief, as he liked to be known, drove a Mercedes-Benz and was deeply involved in local issues in western Sydney, meeting local politicians such as former premier Morris Iemma and senior police officers.
But in reality Chief Maximus was the boss of a West African crime syndicate which some police likened to the black Mafia of Sydney with the Chief, a man living a double life as family man and businessman, frequently needing to travel to China and Nigeria, as its Godfather.
In 2010, Strike Force Bellevue was set up and 11 people were arrested after undercover operatives infiltrated the syndicate.
'It was a secret criminal society in this city and beyond, which contributed significantly to the illegal drug supply in the Sydney metropolitan area,' said Detective Superintendent Nicholas Bingham, Drug Squad Commanderat the time.

They had no criminal records and really were an unknown criminal element.
On Friday in Parramatta District court, Osuamadi was sentenced to six years’ jail for supplying a commercial quantity of methamphetamine during an undercover operation in Auburn Botanical Gardens and in a series of secretly taped conversations.

When arrested at his Granville home, he remained indignant. He said was of royal blood with ties to some of NSW’s leading politicians, the local police and even the commissioner, he told police.

'Everybody in Granville knows me, the police there and the local politicians. I am an identity. I am Chief of the Igbo (Nigerian) community and people call me Chief Maximus. I don’t know if you know about the African tradition of royalty. We trace our royalty back to the Queen Sheeba of Israel.'
Maximus owned a string of businesses including an African grocery store, hair salon, a limousine company, Internet cafe and a Western Union money transfer franchise but said many of them had collapsed.
However, police said it was all a front for his drug business, which helped pay for his lavish lifestyle.
Born in Nigeria, the 49-year-old was raised in the Vatican where he was studying to become a priest before dropping out. He arrived in Australia in 1988 and became a citizen in 1990.
It is known to investigators that members of the syndicate and the accused are involved in the supply of methamphetamine and have access to false identification and passports.
The lengthy closed court trial heard evidence that Osuamadi, a male co-accused and an undercover officer, had a conversation where the Chief had said he was planning to travel to China to organise heroin smuggling.
Chief Maximus’s trial was held in closed court because evidence by undercover police and their methods in cracking the syndicate were heard in camera.
Drug Squad Investigation Co-ordinator, Detective Inspector Jason Smith said the police were confronted with a criminal group of which people had very little knowledge.
'West African organised crime syndicates had not previously been the subject of a dedicated criminal investigation by an Australian law enforcement agency."

In 1977, the military head of state, Lt. Gen. Olusegun Obasanjo, set up a crude oil sales tribunal to investigate the operations of the Nigerian National Oil Company (NNOC, which metamorphosed into NNPC same year). The tribunal found out that in three years, NNOC had failed to collect its equity share of oil produced by Shell, Mobil and Gulf. As a joint venture partner, NNOC was entitled to 182.95 million barrels of oil production. But NNOC did not find buyers for its own share, thereby losing a potential income of $2.8 billion. But it was instead reported by the media that $2.8 billion was missing.


http://www.thecable.ng/nnpc-asks-buhari-2-8bn-oil-money-truly-missing-petroleum-minister

illiad:
Village Village Village.
Apart from lagos which is a nigerian city. Every yoruba state is a village. How come you miserable fools are not mentioning such places as africas largest ghetto your ibadan with its eternal rusty brown roofs.

This lagos is our own, if you're so pained go the awolowo way, poison yourself

SonOfEl:
seriously, you have a cognitive deficiency. WE PAY OUR TAX AND KEEP TO GOVT POLICIES, BUT WE HAVE EVERY RIGHT CHALLENGE ANY NEW TAX REGIME AND POLICY BY GOVT, AFTERALL WE ARE PART OF THE ELECTORATE TOO IN LARGE NUMBERS.

Govt policy should be people-friendly, NOT ELITIST. Both the poor, average, and rich built lagos, so save your tinubu elitist agenda in the name of govt policy and regulation...shioor!

illiad:
You're just bitter.
Unfortunately Igbos are not responsible for your misery. Igbos have worked hard for all that they have earned and even more.

Your bitterness and envy against Ndigbo would rather make you more miserable than you already are.

There were those days when only Igbos hustle on the Lagos Island while their yoruba counterparts sit back and claim omo landlord as if to say those Igbos in lagos are not also omo landlord in their own places, but now a lot of the yorubas are learning fast and have joined igbos in the business. I advise you to do the same or be doomed by your pathological hate for Gods Own People.

He said that since the Presidency was more concerned about transparency, they Presidency Campaign Council should publish how it gave out N700 million to each state and most importantly how the Presidency spent Nigerian resources in the last 6 years.

SonOfEl:
aresa, you are simply not making any sense at all. What laws and policies did we break? Does the law include bowing to oba of lagos' whims and caprices? Did we evade taxation? What point are you trying to make? We are not fools. Manage you inferiority complex pls, its eating you up big time

If Governor Fashola has been fair to Igbo in Lagos, without discriminating against them, over-taxing them, milking them of their hard-earned money, setting up all types of agencies to ensure that they do not do their business in peace, the APC have nothing to fear.

SonOfEl:
if our 'chest beating' is boring and nauseating, why the hell do you still care to know? Why cant you just leave us and our 'chest beating' alone?
And fyi, policies made by the state govt aint different from that of other states, if there are, its little. In EVERY state in Nigeria asides southeast, the igbo are THE MOST ENTERPRISING NON-INDIGENES from kebbi to jos to osun to akwaibom down to lagos, take it leave it, its not pride, its a fact, a known one for that matter by sincere observers.

Your tribe claim to be the most educated, have you taken time to look into it other singing igbo here and there? You biase is legendary.

Igbos generally feel inferior and inadequate and compensate with false superiority. They think that they are superior to other persons. No human being is superior to other human beings. To the extent that a human being feels superior to other persons he is deluded. Delusion is a psychosis. Many Igbos are deluded. They need to heal themselves of this delusion disorder, aka paranoia by accepting
that they are not superior to any one.

http://www.igbofocus.com/html/the_igbo_problem_can_be_fixed.html

illiad:
Yoruba education like I said is blissful ignorance.

You're an illiterate, a pathetic one at that.

Why do people live in State & Commercial Capitals all over the world?


That's a Term Paper, submit it here once you're done.

Feel free to use google or other research tools, but make sure you do it all by yourself.

Mark:20%

SonOfEl:
words from a biased and insecured mind... What grouse do you have with igbos ogbeni? Cant you be truthful even for 1second? Lagos is nigeria's economic capital with the highest gdp, igbo play a huge role in this reputation AND YOU KNOW IT! oba of lagos' fears are real because igbos entreprenueral presence is huge, from white collar jobs to street hustle. So try not to allow your jealousy and insecurity eat you up. We have every right to speak out our choice candidate, we dont have it in our DNA to obey a king's wish unlike your tribe, and we owe no apology for that. With all your hate, we are still making it big. Deal with it.

illiad:
Your abysmal ignorance is a constant headache for those who have sacrificed their sweat to get you a sort of education.

Do a little research on the ingenuity of the Igbos and might be finding among others that while the nigerian army was able to build an APC just last year, the Igbos built one 50yrs earlier.

Don't let your hate blind you!
Read and do Research, especially against the people you hate.

Falamous.

papaejima1:
To hear some of you talk, you'd think yoruba's have no life outside Lagos!
Get out of Lagos and see yorubas doing well in various cities across the country. No one is killing them or begrudging them their success. PH alone is home to several thousand yorubas so why particular angst against Igbos in lagos?

Ojiofor:
How would you know if they are and my response was directed at your childish question if he would be in shipping business or know about shipping without Nigeria..
The world is global village for Ndigbo,we are everywhere not just in your corner of the world and please you guys should s[b]top behaving as if anybody owns you anything[/b].

If care is not taken Igbo land could very easily turn into a lawless place, such as Somalia; Igbos have no regard for law and order; what matters to them is their individual interests; in such a self-centered society law and order easily break down and folks revert to living in Hobbesian state of war with each other and life becomes insecure for all

In personality structure the typical Igbo has traits of paranoia, narcissism and antisocial personality. He is paranoid because aware of his lack of existential worth, and instead of accepting that reality