₦airaland Forum

anonimi:
The EARLIER Iweala publishes the ECA details since 2010, the better.

You can count on that happening. She will publish details of each state allocation and watch the pretenders disappear thereafter.

NOI will un-dress this political maggots in public, unlike Nigeria politicians she has her numbers intact. Hopefully the criers of change are ready for the unfolding drama. Time to educate you people on government/public finance.

theV0ice:


The Nigerian 'bigman'.....i salute your 'richness'

I have to sleep now, nobody is a bigman, you just learn to make a living the hard way. Instead of planing how to become an everlasting parasite.

Have a nice night.

theV0ice:
@the bold, i understand

As for the hell, what about your relatives? Your clan? Your tribe? your state? are they immune too?

Those of you waiting for free food for children, N5,000, free housing, etc because your country is a rich oil exporting nation are the ones heading for hell. I don't know anyone in that group.

theV0ice:
@the bold, i understand

As for the hell, what about your relatives? Your clan? Your tribe? your state? are they immune too?

Those of you waiting for free food for your children, N5,000, free housing, etc because your country is a rich oil exporting nation are the ones heading for hell. I don't know anyone in that group.

theV0ice:


cool down....you don't have to hyperventilate because you boxed yourself into a corner my friend, i didn't send you on the wild fantasy ride of defending GEJ you know? you, GEJ and NOI swore GEJ was the next best thing to happen to the world after sliced bread and how we'd never had it so good. If you're recanting now, simply say so

Nigeria and the IOC's share it in the ratio 60/40 so i leave you to do the calculation of what comes in. meanwhile, have you heard of the FIRS? do you know they earn money for the FG? have you heard of customs? do you know they also collect on behalf of the FG? Do you know there are extremely wealthy and okay nations on earth that do not have oil? how do they make it? how do they survive? This will bring me back to the simple question which you failed to answer which is; Do you think this 'poverty stricken country' has any chance in hell or heaven to become a rich one? using your standards?




I sincerely hope you're not a Nigerian and not resident in Nigeria and doesn't have a relative in Nigeria? otherwise i feel sorry for you and yours too when that hell you seriously wish and pray for finally turns up

I will not partake in the hell with you people, because I have never expected anything from government. No need replying, you're just repeating your pretender class rubbish.

theV0ice:


The admission that you, GEJ and the rest of your crew lied greatly when you told us the economy was doing very fine when in fact the economy was a 'poverty stricken' one as you're now confessing?

Meanwhile, do you think this 'poverty stricken country' has any chance in hell or heaven to become a rich one? using your standards?

Classic rubbish from the pretender group, take your time and read my comments on this forum. I have always described this country as a poverty stricken Nation filled with pretenders thinking they have money, when in reality, they have nothing. Look at the way you threw your 2 million barrels at $100 oil out here? Do you even know what that means? Do you know what was Nigeria's take home after the IOC/local consumption took their shares? Take those numbers and divide what's left by 160M or 165M or what ever population number you want, then you might get the picture. You have nothing to offer but 2 million barrels for 170M people and for some of you it makes you people the dangotes of Africa, while in reality this country is as poor as a church rat. THAT WAS THE MESSAGE NOI AND GOODLUCK TIRED DESPERATELY TO COMMUNICATE TO YOU PEOPLE.

For your pretender class it was corruption, forgetting you cannot give what you don't have. That's why I feel so sorry for most of you, because of hell heading your way.

theV0ice:
Do you finally agree you, GEJ and the rest of your team were bloody liars all along?

We knew the economy had always been in dire straits and we screamed it to the high heavens but you told us our fears were unfounded. Are you now admitting you guys lied and led Nigerians on a steep descent of falsehood?

You don't get it, you don't give what you don't have? This country is a poor country just it has been for 50 years. What admission are you talking about? That the economy expanded under GEJ at a rate of 6% does not mean this is not a poverty stricken Nation.

theV0ice:
I thought you were one of those regaling us with how GEJ built our economy to such a high level that it has become the largest economy in Africa and the 26th largest in the world? Did you not paint a picture of a very healthy economy all along courtesy of the miracles of St Jona? Were you knowingly telling us lies then?

I don't even want to go into the reserves the sick Yar'adua left or the excess crude account or the almost zero debt GEJ met or fact that this 'poverty stricken country' sold 2m barrels of oil/day at over $100/barrel for over 3 years which came to an end less than a year ago.

Even at $100 this was still a poverty stricken Nation. The cliff you people are about to fall of, will leave lots of you bloody. Maybe then, some of you might wise up.

theV0ice:
Really??

now that's strange....very strange

You don't know this is a poverty stricken Nation? Your projected total revenue for 2015 is $60B, shared by 170M people. What are you going to do with your $285 or N60,000? If Oil drops to $45 that number falls to $50B. Are you one of those walking around telling themselves Nigeria is a very rich country?

^^^^ what money were you sharing? This poverty stricken Nation has nothing to share, you people pretend not to know.

patrick89:
oops! Not this time.... Here is what you want.

Nicely done

Oil is poised to slump to $45 a barrel by October as a surplus of crude and producers’ easy access to cash weigh on the market, according to Goldman Sachs Group Inc.
A recovery in prices to near $60 a barrel from a six-year low in March is premature, analysts including Jeffrey Currie said in an e-mailed report dated May 18. The availability of cheap capital exacerbates the need for sustained low prices to keep U.S. producers from boosting output, according to the bank.
West Texas Intermediate oil has rebounded 37 percent since March amid speculation a drop in U.S. drilling rigs to the fewest since August 2010 will slow output and ease a supply glut. The backlog of drilled but uncompleted wells represents more than 100 million barrels of crude held in underground storage, Goldman said.
“Our bearish view has been driven by two surpluses: excess hydrocarbons, but just as importantly, excess capital,” New York-based Currie and Damien Courvalin said in the note. “We find that the global market imbalances are in fact not solved and believe that the rally will prove self-defeating as it undermines the nascent rebalancing.”
While markets have focused on the U.S. rig count, given its weekly frequency and potential insight into slowing shale output, production will still grow in 2016 at the current number of active machines, according to Goldman. Uncompleted wells can be brought into production quickly and add at least 250,000 barrels a day, according to the bank.
“Should WTI remain near $60/bbl, U.S. producers will ramp up activity given improved returns with costs down by at least 20 percent,” Goldman said in the note.

Price Recovery
Oil prices collapsed almost 50 percent in 2014 as a shale boom drove U.S. production to the fastest pace in more than three decades. The nation’s crude stockpiles are near the highest level since 1930, according to monthly data from the Energy Information Administration dating back to 1920.

The slump led to U.S. companies reducing the number of active rigs by 58 percent since December, the most prolonged retreat from the nation’s fields on record. The count dropped to 660 through May 15, according to data from Baker Hughes Inc.
Prices will recover gradually through to the end of next year and reach $60 a barrel, which Goldman estimates as the marginal cost of production for shale. The bank’s 12-month forecast is $55 a barrel, which implies $53 in the first quarter of 2016, it said in the note.
Goldman forecast WTI to trade this year at a $6 discount to Brent in London, the European benchmark crude, and $5 from 2016. Brent for July settlement was 1.3 percent lower at $65.42 a barrel on the ICE Futures Europe exchange at 3:52 p.m. Singapore time.


http://www.bloomberg.com/goldman-sees-oil-at-45-by-october-after-self-defeating-rally

Is all good Mauzu and his gang will soon decamp. They know their time is up

Nigeria’s Buhari May Succumb to Eurobond Lure as Yields Plummet

A rally that drove yields on Nigerian Eurobonds to six-month lows has created an opportunity for President-elect Muhammadu Buhari to tap international markets soon after he is sworn in on May 29.
Rates on Nigeria’s $500 million of securities due July 2023 fell to 5.45 percent this month, the lowest since Nov. 4. Yields have dropped by more than 300 basis points since reaching a record high of 7.83 percent on Feb. 11. Nigerian dollar debt has returned 7 percent this year, compared with the 2.8 percent average for peers in Africa and the Middle East, according to data compiled by Bloomberg.
While incumbent President Goodluck Jonathan’s administration mostly issued local-currency bonds, a budget deficit that’s widening as low oil prices starve Africa’s biggest crude producer of cash means new sources of funding may be needed. Lower dollar yields make Eurobonds more enticing than naira debt, according to Yvonne Mhango, an economist at Renaissance Capital. The West African nation has sold Eurobonds twice, most recently in July 2013.
“Nigeria will have to pursue the external financing option more so than they’ve done previously,” Mhango said by phone from Johannesburg on May 14. “That’s because the financing gap will be much bigger than before. Also, yields have come in nicely. That’s an opportunity for them to go that route.”
Clamp-Down
Former military ruler Buhari, 72, defeated 57-year-old Jonathan in a March 28-29 vote. He pledged to clamp down on corruption and defeat Boko Haram’s Islamist insurgency in the north east when he takes over, which will mark Nigeria’s first democratic transition from one party to another.
Whether Nigeria’s debt rally continues will depend on crude prices and Buhari’s success in carrying out his pledges, including a vow to boost transparency and production in the oil industry, according to Brett Rowley, a managing director at Los Angeles-based TCW Group Inc.
“Investors hope he will make good on campaign promises to crack down on corruption and implement structural reform, particularly in the oil sector,” Rowley, who helps oversee $160 billion of assets including Nigerian Eurobonds, said by phone on May 15.
Low Debt
Nigeria would benefit from its low debt levels if it did tap international capital markets, according to Razia Khan, head of Africa economic research at Standard Chartered Plc. The ratio of debt to gross domestic product is 10.7 percent, according to Barclays. That compares with 67 percent for Ghana and 44 percent for South Africa. Foreign debt amounts to 1.7 percent of GDP, compared with 9 percent for naira-denominated borrowings, according to Barclays Plc.
“Anyone looking at Nigeria’s situation would say there’s a case for external borrowing,” Khan told reporters in Lagos, the nation’s biggest city, on May 5.
Paul Nwabuikwu, a spokesman for the finance ministry in Abuja, and Garba Shehu, a media aide for Buhari also based in the capital, didn’t immediately respond to e-mailed requests for comment.
Average yields on naira-denominated bonds dropped to 13.9 percent on May 14 from more than 16 percent in mid-March, just before the election. They are still the highest among 31 emerging markets tracked by Bloomberg. Yields on the nation’s 2023 Eurobonds climbed 5 basis points to 5.70 percent by 8:13 a.m. in Lagos.
‘Cash Crunch’
Nigeria’s government, which derives 70 percent of its revenue from oil exports, has a “cash-flow crunch” and has already borrowed more than half the amount it budgeted for the full year, Finance Minister Ngozi Okonjo-Iweala said on May 5. While spending will fall this year by 18 percent compared with 2013, the government still needs an oil price of $88 a barrel to balance its budget, Deutsche Bank AG analysts said in an e-mailed report on May 14. Brent crude fell 0.1 percent to $66.66 a barrel on May 15.
“They would pay less on a Eurobond than tapping the local market,” TCW’s Rowley said. “It would certainly be tempting for them, particularly in this lower oil-price environment. The government could use the cash.

http://www.bloomberg.com/news/nigeria-s-buhari-may-succumb-to-eurobond-lure-as-yields-plummet

FGN Bonds
Nigerian Treasury Bills
Nigerian Treasury Bonds

People are here calling Jonathan corrupt. Why are you people so ignorant., why


By the way, the CBN will be having another N60B bond auction next week or the first week in June, please talk to your broker, he/she might educate some of you.

nelsonegware:
Locating Nigeria’s four topmost offices in one area untenable —Uduaghan


By Hugo Odiogor


Governor Emmanuel Uduaghan of Delta State has described as untenable, alleged plans by the incoming All Progressives Congress, APC, government at the centre to locate the nation’s four key offices in one section of the country, regardless of the constitutional provisions on federal character.

Uduaghan, who was honoured by Anioma people for his contributions to Delta State in the past 16 years, said it was inimical to peace and unity of Nigeria for the North to hold the offices of the President, Senate President, Speaker of the House of Representatives, in addition to the office of the Chief Justice of the Federation.
Uduaghan said: “Leaders of APC reasoning along the line of allocating critical national offices to one section of the country is a mark of insensitivity.”
He said that the Peoples Democratic Party, PDP, may be out of power “but it will mount strong opposition to APC to ensure the survival and advancement of democracy in Nigeria.”

He assured Deltas that he has “no intention of jumping from PDP to APC,” as has become the vogue since the ruling party lost the presidential election in March.
He said he will remain a staunch member of the PDP and help the party go through the trauma of defeat and bounce back to mount formidable opposition to APC in the interest of democracy in Nigeria.

Earlier, the Asagba of Asaba, HRM Obi Chike Edozien, who is the President of Anioma Congress, said Anioma people decided to honour Dr. Uduaghan for the role he has played in the development of the state, starting from when he served as a member of the transition committee for the administration of Chief James Ibori.

My dear gov. people were asked to hold their peace and say nothing till after the 29th., please abide by this agreement. APC has won, let them come and rule.

There are reasons Nigerians are constantly seen as fraudsters. Anyone with common sense knew that report was false, but in this land of inbred 419ers, guyman must wack. Nigerians will see more this in the next 4 years.

Shettima you have my support, please demand for more than 13%. Some are born fools, slaves and cowards.


Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take, but as for me, give me liberty, or give me death!
Patrick Henry

tinkinjow:
When those who "claim relationship" with Lagos talk of development one is always left to wonder what they really mean. To these group development is synonymous with some few ten storey buildings sprinkled here and there around the city.

Of course it is easy to agree Uyo stand alone in Akwa Ibom Whereas Lagos is taken wholly as a state - though no one will tell you about Epe or Badagry in that regard.
To these group I ll always boldly say it to your face. Lagos as far as I'm concern is a byword for filth and chaos. The only possible places there that can escape this description are the Law School - Lekki toll gate stretch and Osborne Ikoyi stretch. In all these you dare not enter the side streets for you'll be stung with the eyesore that's the Lagos signature.
Is it the Ajah/ilaje areas, wilmer/ajegunle, aggege/iyana ipaja. Even places like fectac, marina name them are all decayed. The so called banana island apart from the beautiful structures is what it's called, a banana plantation.

Lagos praisers should well be informed that Akwa Ibom has what Lagos has and even more - that sought after serene environment with greens ( I meean nature) - that signposts a modern city.

When people (except perhaps we that have not seen high rises) travel the world for tourism it is these nature or culture they seek to enjoy not structures except where that is culturally connected.
When you go to Calabar it is the ambience you seek
When you go to the Caribbean it is not for structures or skyscrapers
It always about nature, culture and the ease of life. Akwa Ibom - Uyo have these in abundance to Lagos.

Which is development:
The bumpy Lagos roads or the smooth Akwa Ibom ones
The stressful traffic in Lagos or the free flow in Akwa ibom
The dirty looking public school students or the neat Akwa Ibom students
The congested noisy neighbourhoods of Lagos or calm soothing residences of Akwa ibom
The terribly smelly and equally detestable bukas in Lagos or the healthy and delicious delicacies in Akwa ibom
The stench that emanates from the Lagos Lagoon or the clean streams, rivers and beach of Akwa Ibom.
etc etc etc etc etc
Akwa Ibom might not provide you with the same economic opportunities as Lagos, but please if you have your money and you're asked where to live, please don't hesitate, choose Akwa Ibom and live happily ever after.

There's much more to development than filth and commotion

Facts never lie, good.

Sweetguy25:
Printing money to spur productivity is not a bad idea. As long as money is used to facilitate the production of goods and services, it will boost the economy enormously.

What productivity are you going to spur? All you have done is drive up the cost of production in Nigeria and inflation will give the economy a very pretty haircut. You can as well use the Naria as toilet paper, becos, that's the end result.

Oh dear oh dear, it has come to this. Please print, you will need a lorry load of the useless money to buy a loaf of bread. What balance sheet are you people trying to leverage here.

989900:
Even if the proceeds from all the 2.2 million barrels/day is given to Bayelsa alone (excluding, Ondo, Rivers, Akwa Ibom, Cross River and who again produces?), the masses of Bayelsa will still be poor, they will still be repressed and vanquished by the same thieving bas.tards that oppress and repress them blindly.

Prototype: Equatorial Guinea.

Nigeria kept the proceeds for 50 years, oya tell me how poor you are

haul:
Pipe down son,I'm not one of those political head one this forum,only saw this thread on trending, and to my astonishment,I saw your foolery!

Not everyone have time time to exchange words,by the way have a nice time but don't preach war on yourself, it a wrath nobody knows the end.

You are still making noise. Do the needful.

haul:
Tell your right boob to Calm your left boob down! If I'm correct you don't know about the civil war,you weren't there during the time,you heard tales,saw scribbles on papers you never felt it!

I'm sure if you were there during that time, you won't be hell bent on saying "Bring it on" like say if the thing start no be MMIA you go dey looking for escape route!

You fit handle gun you nogo help NA, kids talking war like the seeing some anorld Schwarzenegger movie. It a dumb antic, pipedown a little bit son.

Please use your real moniker, then we can talk

Remarkable:
I would have loved to see "major" projects like the seaport and perhaps using his powers to get industries and investments both local and foreign into the area....

there are indeed beneftis enjoyed by the area by virtue of his position (schools, barracks, etc); all i was saying is that he seemed like he didn't want to make any obvious moves that will raise people's eyebrows that he was biased... which is to your point exactly that he was called the most tribalistic president, when we can argue the North got more than the SS region, depending on how you look at things.
so that is the reason I say he should have gone all out to further lift the former eastern region into higher levels of economic development; and then damn the consequences if they wanna call him names.

There is an Igbo saying that if I am called a frog-eater when I have never eaten a frog... when I am about to eat one, I will make sure that I eat a big, fat juicy one.

He tried too hard to buy favours from his distractors, because of the Niger delta sickness. It is now our turn to be distractors, let's see who will be left with an empty bowl. You just have to like these times in Nigeria.

CSTR2:
Your region and home will be afflicted with the gwoza syndrome and uncountable IDP, you mad fucck.

If the Niger delta becomes GWOZA, what will Nigeria be?

Remarkable:
I really don't know... I have been trying to come up with possible answers why GEJ did not ensure vital infrastructural development that'll be a catalyst for rapid growth for the lower niger... and the only or main thing I can come up with is the same thing that Ironsi did which also led to his undoing - want to appease the North in order to avoid being accused of favoritism... its too late to learn a lesson after exams are over, he should have seen that no matter what he did, that he was going to be criticized; so spending those years to be sure sure sure that before polls are up again, a huge project or two would have been set up in a part of the country that has been kept at the back burner for years.

I am disappointed that he didn't play his cards well. pretty much played into the hands of the opposition and they seized the opportunity. Maybe my governor could have introduced him to POD 101 - political Opposition Dissolvement... he gathered everyone that mattered or that counted as politicians in the state under one umbrella, thereby, not only isolating OUK but ensuring that he was returned for a second term due to lack of a strong opposing candidate.

Jonathan suffered from the Niger delta sickness, always wanting to be more Nigerian than Nigeria . Remind me again, what other Nigerians called him? the "most tribalistic" President Nigeria ever had, because he spent all Nigeria money developing the creeks of the Nigeria delta and appointed only Niger deltans to his cabinet plus offered them government jobs.. Now you people are saying he did nothing for his region, please tell us what is it?

Mogidi:
They needed change and we needed change too, lets change to groundnut and cocoa production.

Enough of the environmental damage.

That was the advise we gave them, they said their army will subjugate us, all I say is bring it on.

For those of you who like to play the impostor status on this forum, please let it go Don't pretend to belong, when you don't.

Mogidi:
Make dem dey unsettled joor.

The goose that lays the golden egg says no more free eggs, the eggs now come with conditions, resource control or....

WE have for 40 years done all things possible to belong, I know for a fact, no other region will tolerate what we tolerated for 40 years. Jonathan was the final straw.

How this one event woke up domicile people is the icing on this cake. Suddenly, many are volunteering both time and money. To God be the glory.

Mogidi:
Bros, small small, we dey change defeat to victory

GEJ losing at the polls made a lot of people wiser.

Many found out, Nigerians did not want them, just their oil.