₦airaland Forum

Watching, I like this new mode of communication by the President. He needs to speak for himself and bypass the mainstream media gate keepers.

Amaechi all these your stunts are sooooo 2003. You will be defeated handily in Rivers state, nobody needs to move a finger to send you and APC into the abyss where you belong.

This is very long, but Oga Seun, please put this on front page.


GEJ till 2019

MalcoImX:
Who started the games?

Ask Yaradua

Why all the games? We have been played before. I remember Umoru, Umoru are you dead?

The Oluwole party has been caught again. Oya come and lie to us.

Why not $50000000000000000000000000000000000000000000000000000000000000-000000000000000000000 scandal.

APC supporters always pretending to know jack.

Funny comment from a party with a primary six dropout, as their Presidential candidate.

The Party of Oluwole members call APC, think Nigeria is a remote controlled device.

ba7man:
Naira is now N215 to $1, No electricity supply. Very favourable conditions for investment.

What do you know about favourable investment condition?

Nissan is the first vehicle manufacturer to build a car in Nigeria since the country introduced its new automotive policy.


Vehicle manufacturing companies have started building plants to make cars in Nigeria with Nissan being the first of its kind to achieve this.

“Nigeria has always been a very key market for us and I think it was a logical step to move towards. We are also building the Almera and the volumes are increasing on a daily basis. We are very pleased with the result we are getting out of the plants in Nigeria,” Mike Whitfield, managing director of Nissan South Africa told CNBC Africa.

Nissan Nigeria rolled out its first 'made-in-Nigeria' vehicles, marking a key milestone in the company's expansion plan, and gave a boost to Nigeria's automotive policy which aims to encourage local production of vehicles.

“Obviously, as one increases production levels it does produce the economics of sales and I think the process is a journey. Our objective as we continue to go forward is to improve the cost effectiveness of the vehicles manufactured in Nigeria.”

For this project to grow and improve and for the cost of these vehicles in Nigeria to be more affordable for the people, there is a need for more vehicles manufacturing companies. This will help the local industries to grow and provide better opportunity for the people by also creating job opportunities.

“First and foremost it is very important that we see as many manufacturers as possible moving and supporting the automobile policy because with that approach we will end up being able to grow the local component industry. There is an effect of that in not only job creation but also skill creation. From a Nissan objective, yes, it is our objective to move forward to ensure that we can produce a car in the Nigerian market that meets the need of the population and addresses the issue of affordability.”
http://www.cnbcafrica.com/news/western-africa/2014/09/08/nigeria-nissan-cars

Seun:
If it's true that GEJ's administration has done much to help farmers in the north, then it's a pity that it most likely won't affect their votes at all.

Elections in Nigeria are not based on achievements, where you worship and the language you speak play the major role.

emmygzy:
my brother youre on point.yaradua stopped funding most of them and the it took too long for jonathan to complete them. obasanjo is a great president. he had good intentions for nigeria. jonathan never initiates new power projects but at least he should complete the ones that abasanjo started.

How many did Obj start and finish in 8 years?

Punch is not a reliable source.

bunch of little people crying like the Oluwoles they are.

>: what a joke

(Bloomberg) -- The biggest, fastest-growing oil producer in the U.S. said it plans to halt output growth this year, delivering a signal that shale companies are beginning to do what it takes to reduce oversupplies.

EOG Resources Inc., which has boosted its oil production by almost 50 percent annually for the past five years, is slashing spending 40 percent and will drill half the wells it did in 2014. The Houston-based company fell more than 7 percent before the start of regular trading Thursday in New York after reporting fourth-quarter profit yesterday that missed expectations.
The company joins Apache Corp. in its plan to pump about the same volume of oil as last year. The cutbacks are a sign that shale producers can slow down a lot more quickly than forecasters are expecting, said Michael Scialla, a Denver-based analyst at Stifel Nicolaus & Co.
“EOG is viewed as the premier company in shale development, and if they’re not going to grow, it is a very important signal to the market,” Scialla said in a telephone interview. “The argument that this slowdown is going to take a while to have an impact on supply is completely wrong.”
The reductions come as agencies such as the U.S. Energy Information Administration forecast that overall domestic production will grow 7.8 percent to 9.3 million barrels of crude a day this year, adding to the glut that’s pushed down prices.

Saudi Output
“The company is not interested in accelerating crude oil production in a low-price environment,” EOG said in a statement.
The collapse of oil prices by more than half since June has forced major producers and drillers to cut more than $40 billion in spending and fire 50,000 workers. The number of oil-drilling rigs working onshore has declined by a third since October.
At the same time, Saudi Arabia is boosting production in a bid to maintain market share. Crude oil output is about 10 million barrels a day, New York-based Pira Energy Group said in a weekly report, citing discussions with Saudi customers. That would be the highest since July and up from an average of 9.7 million barrels a day in the second half of 2014, according to data from the Joint Organisations Data Initiative, an industry group supervised by the Riyadh-based International Energy Forum.
Crude prices have rallied in recent weeks to more than $50 a barrel as the pace of cuts has surprised market analysts. U.S. oil prices fell 3.7 percent to $50.19 a barrel at 7:13 a.m. in New York on Saudi Arabia’s output and estimates that U.S. inventories this month continue to rise. The average price for Brent crude, the benchmark used by most of the world, dropped 30 percent from a year earlier in the quarter, to $77.07 a barrel.

Marginal Operators

The ability of shale producers to halt production should “help the market regain equilibrium,” Bob Brackett, an analyst at Sanford C. Bernstein & Co., said in a Wednesday note to investors. “If the most successful player doesn’t grow in 2015, what does that imply about marginal operators?”
EOG’s net income fell to $444.6 million, or 81 cents a share, from $580 million, or $1.06, a year earlier. Profit excluding one-time items was 79 cents a share, less than the $1 average of 36 analysts’ estimates compiled by Bloomberg.
Shares fell 7.7 percent to $88 at 7:44 a.m. EOG is up 6.6 percent over the past year.
The earnings report was posted Wednesday after the close of regular trading on U.S. markets.

To contact the reporter on this story: Bradley Olson in Houston at bradleyolson@bloomberg.net
To contact the editors responsible for this story: Susan Warren at susanwarren@bloomberg.net Jim Efstathiou Jr.

"The only enemy we have in Abuja is the presidency and the PDP. I must also say that the hackers are not ordinary persons. They have access to sophisticated equipment."


Someone tell Osunoffender, to pay their hosting fees and stop the noise.

(Bloomberg) -- Nigeria’s central bank abandoned weekly foreign-exchange auctions, a key part of its currency-management system, effectively devaluing the naira for the second time in three months.
Supporting the naira through dollar sales at the auctions was draining foreign-exchange reserves without benefiting the economy, the Abuja-based Central Bank of Nigeria said in a statement on its website on Wednesday, after the gap between market and auction rates for the currency widened to a record on Feb. 12.

“This is an effective devaluation of the official Nigerian naira exchange rate,” Razia Khan, the London-based head of Africa research at Standard Chartered Plc, said in an e-mailed note on Wednesday. “This is positive news, and should create more transparency in the Nigerian market.”
The naira gained 1.4 percent to 196.77 per dollar by 4:28 p.m. in Lagos, rallying for a third day after falling to a record low on Feb. 12.
The central bank, which devalued the naira in November, has attempted to stem the currency’s decline by introducing measures to dry up foreign-exchange trading. The naira has slumped 18 percent in the past six months amid a slide in the price of oil, which accounts for 90 percent of Nigeria’s export earnings and 70 percent of government revenue.
“With reserves declining every day and seen to affect the nation’s ratings, the central bank took the right decision,” Sewa Wusu, head of research at Sterling Capital Markets Ltd., said by phone from Lagos, the commercial capital, on Wednesday. The move amounts to “a tactical devaluation of the local unit, without having to make the announcement,” he said.
Legitimate Demand

Demand for foreign currency must go through the interbank market, Ibrahim Mu’azu, a spokesman for the central bank, said in the statement. The central bank will continue to intervene to meet legitimate demand, he said.
Weekly foreign-currency auctions “continued to put pressure on the nation’s foreign exchange reserves with no visible economic benefits to the productive sector of the economy and the general public,” Mu’azu said. “It has become imperative that appropriate actions be taken to avert the emergence of a multiple exchange rate regime and preserve the country’s foreign exchange reserves.”
The regulator has depleted reserves to their lowest in more than three years to defend the currency. The central bank’s official target band for the currency is 159.6 to 176.4 per dollar, though it sold $401 million at 198.5 per dollar in an unscheduled auction last week to help stem the naira’s rout.

‘Truer Rate’
“It’s become clear in recent weeks that the run-down in foreign exchange reserves is untenable,” David Cowan, an Africa economist at Citigroup Inc., said by phone from London. “It’s good for the Nigerian foreign exchange market. A movement away from a multiple to a single exchange rate regime is better for the market and makes for a truer exchange rate.”
The Monetary Policy Committee is due to meet next on March 23 and 24, less than a week before the country holds a presidential election that was postponed from Feb. 14.
Nigeria’s foreign exchange reserves stood at $32.7 billion as of Feb. 16, down 22 percent on a year ago. Nigerian stocks have dropped 23 percent this year in dollar terms, the most among 93 primary equity indexes after Ukraine.
To contact the reporter on this story: Daniel Magnowski in London at dmagnowski@bloomberg.net

madridguy:
nice move.

Wrong move.

U.S. army to provide equipment, intelligence to fight Boko Haram


N'DJAMENA (Reuters) - The United States military will provide communications equipment and intelligence to help African nations in the fight against Nigerian Islamist group Boko Haram, the commander of U.S. Special Forces operations in Africa said.

West African military commanders have long complained that cross-border operations against Islamist groups, from al Qaeda in the Islamic Maghreb (AQIM) in Mali to Boko Haram in Nigeria, have been obstructed by lack of compatible communications equipment, making it hard to swap information and coordinate.

Major General James Linder said that, as part of the annual U.S.-backed 'Flintlock' counter-terrorism exercises this year in Chad, the United States would provide technology allowing African partners to communicate between cellphones, radios and computers.


The system also incorporates a translation function that would allow commanders in francophone countries like Chad to communicate by message with English-speaking officers in Nigeria, a U.S. military officer said.

Boko Haram killed an estimated 10,000 people last year in its campaign to carve an Islamist emirate from northern Nigeria. Amid growing international alarm, the four nations of the Lake Chad region -- Chad, Niger, Cameroon and Nigeria -- plus neighboring Benin are preparing a joint task-force of 8,700 men to take on the Sunni jihadist group.

Chad's military, which played a leading role in a French-led campaign that ousted Islamist groups from northern Mali in 2013, has already led attacks against Boko Haram positions in Nigeria's border regions.

"The Lake Chad nations are battling Boko Haram and we have a vested interest in that group of nations' collective success ... What Boko Harm is doing is a murderous rampage, about brutality intolerance and subjugation," Linder said in an interview late on Monday.

"Our national leadership has been very clear that more was going to be done ... There is an ongoing discussion on how will we provide additional tools, techniques, and material to partner nations."

At the Flintlock exercises, the U.S. military will also be introducing a Cloud-based technology to allows African allies to quickly share intelligence across borders, such as mapping information the location of potential targets, Linder said.

The ninth edition of Flintlock, grouping 1,300 soldiers from 28 African and Western nations, will emphasize the importance of troops fostering strong relations with local communities to gain intelligence on insurgent groups.

Linder said that African armies were well placed to gather this kind of information, but the United States could share other kinds of intelligence to boost the success of operations against Boko Haram.

"It’s the things that we find from flying over a target and having an FMV, a full motion video, or being able to take pictures, or being able to do a different type of geo-spatial analysis or predictive analysis on the enemy," he said.

Washington's long-term goal was to enable African nations to be sufficiently trained and equipped to face their own security challenges, Linder said.

"By 2050, one-third of the global population will be on the African continent," he said. "The global economy and the global community need stable countries in Africa and that can only happen through African nation states themselves."

http://www.reuters.com/article/2015/02/17/us-nigeria-violence-usa

Has this been taken to the New York group for verification?

You people don't understand the politics of publicly asking for troops. The french are in Niger and Chad working with the Nigerian army. Some People are not happy, so you publicly call for their support. They will now leave you alone to go about your business as you please.

After 2019, Nigerians must change the meaning of clueless in the English Dictionary.

GEJ TILL 2019

I gave up on APC lies on this forum. I thank God, I don't come across people like them in real life.

In other countries people are against boko haram unlike here in Nigeria. Where people are against the army instead of boko haram.

Hahahahaha, Fayose curing APC of their madness, since June 2014