₦airaland Forum

For the sai crowd coming to provide free food for their poverty stricken children and N5,000 for their lazy bothers, please look at the total oil revenue between Jan 2012 and July 2013, about $70B. I hope you people have other plans to generate cash for your nanny state programs.

4.1.6.2. NNPC business model
The current NNPC business model in relation to the usage of the domestic crude is inadequate as can
be seen from the foregoing. The business model that informed the creation of NNPC is a subsidy
minded model. This model is responsible for several of the weaknesses and lapses that have already
been outlined and the net effect is an erosion of value to the Federation.
Furthermore, the accounting and reconciliation system for crude oil revenues used by all Government
agencies appears to be inaccurate and weak. We noted significant discrepancies in data from different
sources. The lack of independent audit and reconciliation led to over reliance on data produced from
NNPC which may not necessarily be accurate. This matter is further compounded by the lack of
independence within NNPC as the business has conflicting interests of being a stand-alone selffunding
entity and also the main source of revenue to the Federation account.


Will the parasites in Nigeria see this and close NNPC down.

This is the hand Jonah and PDP needs to play. Buhari do your worst. Nah today, let's see who will go on hunger strike.

Nigerians and their unending lies.

You people will find ways to contain your demons. You have 4 years to make your boys happy.

OrlandoOwoh:
]
No, we will start from the more recent - NNPC and NIS.

congenital liar, time to stop quoting my comments.

MichaelSokoto:
Stop formin one thing-one thing joor!

Since ur Oga's defeat, I tot u won't bring ya as$ back hia again

I asked if you dead, if not, you would know I have been here after and before the election. People like you with 20 million monikers don't remember the lie you laid down yesterday. Now almajiri park well.

tbaba1234:
Most respected The daily beast is less than 10 years old...

Highly respected are papers like NYT etc

Soooooooooo what's your point?

MichaelSokoto:
Lazarus 4rm d dead!
Aaah u back?

Did you die?

Can you imagine the FBI/CIA dossier on this man. Nigerians SHOUTING CHANGE, will have enough of it and then some.

The western media pushed hard for these creatures to take leading roles in Nigeria. The same sets of creatures, they will never allow baby sit their dogs. We are in for a very interesting 4 years.

Sheriff19:
bro How much were u paid. hope u don"t have a share in d 2obillion fraud

Ask your president to carry on with his probe, most you in this country need some sense of reality. Not only $20B, it should be $400B

Nigerians deserve the likes of Amaechi.

PassingShot:
No problems but GMB must probe the well publicized cases of corruption irrespective of which corporation was involved.

You have no well publicised cases of corruption, what you have is a well organised public lynching of people, some of you love to hate. That's why I will advise Nigerians to set their hopes very low, when it comes to all the noise about probes. YOU WILL FIND NOTHING. The only good thing about the probes, will be the good education, it will afford Nigerians on public finance. Maybe when Buhari comes on TV and tells you, your country is as poor as a Church rat, you people will believe him.

PassingShot:
We don't need to probe the systems. GMB only needs to probe some high profile corruption cases and that will be it.

nothing is more high profile than CBN and customs. Start from there.

NNPC this NNPC that, probe all you want. You will get nowhere with it. Maybe your probe will help Nigerians understand how poor their country truly is.

I hope you also plan to probe the Nigeria customs and CBN activities over the last 6 years.

The party needs to take three steps backwards and yes PDP will remain a solid SS/SE and some SW/NC party for at least 8 years. The voting and funding base will reside here. There is no need pretending otherwise. Bring in a current gov/Senator like Fayose/Akpabio as Chairman and build from the base up.

ugoboss26:
Op you insult my intellect right now with your stale news, were you sent here by the Governor to publish his old scheme of renovating a hospital that was long abandoned for years, resulting to ppl loosing their jobs and the institution in a decapitated state.... Mind your, I was born in that hospital in the 90s, so was my mum and grandma, so I know a lot more about that plc than many ppl here you re trying to mislead..This hospital was commissioned on the same day I convocated in Delta state university Abraka, after his (The Governor) gave a short lecture, he left for the commissioning at Eku town, my elder brother is among his aides, that am not even proud of till date....So OP I know first hand when this was commissioned, stop spreading old news! Thanks

People like you are simply unbelievable. Before the government took over the hospital, who owned this facility and ran it down? Who abandoned it for years? Nawa with deltans you only find on NL.

Eku baptist was resurrected from the dead. Uduaghan and delta state government kept their word to the Eku people. They will remain forever graceful.

literarymathy:
There's no NL wits here. I'm a professional writer. I only post my articles on nairaland so that they may reach a wider audience. I do not understand why people like you are envious and at the offensive against writers. Maybe its a psychological problem. Maybe you've had a terrible childhood and need some form of psychoanalysis by Carl Jung.

invite your fellow tribalist and spare us, your noise.

literarymathy:
Please goto a library, pick up a book and READ!

If you ever read one, you will not open this thread.

This man looks like the PDP 2019 presidential candidate already.

RIO DE JANEIRO (AP) -- When Frenchman Gwenel Lecourieux was gearing up to move to Brazil, the country with its swelling upper class and world-renowned hunger for luxury goods seemed like the perfect place to set up his dream business, selling high-end watches.

But Brazil's economy skidded to a halt and demand evaporated for his watches worth thousands of dollars each. Just 15 months after arriving in Rio de Janeiro, 36-year-old Lecourieux is preparing to cut his losses and return to France.

And he's not alone. The number of foreigners receiving work authorizations fell 24 percent between 2013 and 2014, from 62,387 to 47,259, according to the Labor and Employment Ministry. Brazil doesn't track the number of foreign residents leaving the country, but signs indicate the country's allure has slipped since foreign work authorizations peaked in 2011.

Not long ago, Brazil was the envy of recession-encumbered Europe and the United States, with an annual growth rate of 7.5 percent in 2010 and nearly full employment. But falling commodity prices and dampening domestic consumer demand have upended the economy, which barely expanded in 2014 and is expected to recede this year.

Inflation and unemployment are spiraling, and the local currency has lost value, driving up already high living costs. Add to that a kickback scandal that has hand-cuffed Brazil's biggest company, the state-run oil firm Petrobras, and a burdensome bureaucracy and it's not surprising that Brazil's shine is fading.

"There are so many factors that have sunk the country," Lecourieux said. "Today the market is very pessimistic. Few deals are taking place. Insecurity is up as well. People are more frightened than they were a while ago. It's very complicated."

Lecourieux jumped past bureaucratic hurdles, obtained an entrepreneur's visa, and invested some $50,000 in setting up his company — in which he sold his inventory of luxury watches directly to clients in their homes — hoping to rapidly expand the venture.

The collapse of the economy, however, made it impossible for him to grow his business, let alone make it sustainable. Without growth, he cannot meet the requirements to renew his business visa, which includes having a number of Brazilian workers on payroll. Unable to wait for a rebound, Lecourieux says he's decided to sell his business if he is able, and move back to France within weeks.

Brazil remains a beacon for many of the poorest workers of the Americas, who continue to arrive seeking manual jobs on farms and in urban factories. The country is struggling, for instance, with an influx of poor Haitians who started arriving a few years ago during the infrastructure building boom ahead of the 2014 World Cup, the soccer tournament hosted in a dozen Brazilian cities.

But the highly trained professionals who moved in during the global financial crisis, such as engineers and financial industry specialists, are looking elsewhere for opportunities as Brazil's economy bottoms out.

Take Nikola Kouzmanov, a 31-year-old research analyst specializing in oil and gas, who moved to Brazil in 2013 to try his luck in the then-booming energy sector.

"My plan was to give myself a one-year deadline for finding something. If it didn't work out, I'd at least enjoy the World Cup."

But after a year of madly networking, applying and interviewing for jobs, Kouzmanov still had no luck.

"The hiring environment is very difficult," he said.

Last September, he moved back to London and almost immediately found a job doing market research at a bank.

Gabriel Rico, who heads the American Chamber of Commerce for Brazil, said he's seen plenty of anecdotal evidence of other foreigners who came to Brazil during the boom years but have grown disillusioned.

"From 2010 to 2013, Brazil seemed like an excellent investment opportunity, especially because Europe was going through difficult times," Rico said.

During those years, the chamber was flooded by requests from U.S.-based investors and entrepreneurs looking to set up shop in Brazil. But, that's all changed in light of forecasts for slow to negative growth, he said. Requests for information on Brazil have fallen by half in recent months, he said, while requests by Brazilians looking to invest or work in the U.S. have doubled.

"Basically the situation is completely inverted," Rico said.

Such boom and bust cycles are nothing new for Brazil, with an economy built on the export of commodities like sugar, gold, coffee and rubber. While many of the foreigners who flocked here during the last boom may be jumping ship, some say they'll be back as soon as the next good times get rolling.

"I think a lot of people came here with this misconception that 'I'm going to make it big now,' and it's not at all like that," said Barbara Sikorska, who heads the Rio chapter of InterNations, a networking organization for expats with branches across the globe. "Here you need patience, perseverance and stamina" to weather the hard times.

Barney Smeaton, a 32-year-old engineer from Australia who's about to leave Rio after an unsuccessful 6-month job search, said he'd be keeping a close eye on the economic situation in Brazil.

"I'd be really open to coming back," said Smeaton, who specializes in the alternative energy sector. "I still think this country has enormous potential."

http://finance.yahoo.com/news/foreigners-came-brazil-boom-times-

In 4 weeks their miracle worker will take over, we will then find out if there is subsidy or not. Their manifesto claimed Jonathan was wasting $7B, now, they have the chance to save that invisible $7B.

Time for me to have my fun with the freeloaders waiting for their president to give them N40 petrol, free food for their poverty stricken children and N5,000 for their lazy rear ends.

I thought they claimed Jonathan was withholding their state allocation. With the incoming government, one should expect the allocation to Osun and other APC states to quadruple. Please don't review or end this program, offer free housing to all, free food for the elderly and free wives to all unmarried men. Na una go tire.