₦airaland Forum

hedonistic:
Mr Man mechie onu gi dia. You don't have any point. We're talking about Nigeria's primary cash cow/revenue source (oil production) and you're talking about national assets in other regions. Which yeye national assets? How much do these other "national assets" generate daily for the country?

I stand 100% behind the Avengers. A Fulani idiot cannot be arrogantly using the Niger Delta's resources to intimidate its people and perpetuate a Northern agenda. Scatter the whole oil infrastructure and bring the country to a halt. Anything is better than having this Fulani maggot at the helm who is treating Fulani Herdsmen with kid gloves while huffing and puffing over sons of the Niger Delta and Biafra.

When Jonathan was there, they forced him out under the guise that it is not by force for him to remain in power. That he should leave the seat to save Nigeria. By that same token, it is not by force for Buhari to remain in power. Let him get lost if he really loves Nigeria. But if he chooses to remain there, then he must receive common sense and learn how to govern a complex country like Nigeria through inclusive practices, compromise, concessions, and a willingness to continuously engage the stakeholders of the part of the country that generates all the wealth.

Nonsense.

nwanna89:
ND avengers are a faceless group. So even if they send 10 million soldiers to the niger delta, they wont fish out the avengers. The avengers are not militants. They have no camps. Probably do not carry weapons around either.

My theory is that they are probably using small armed drones to blow the pipelines or Tompolo had already rigged all our pipelines with remote controlled explosives during his years carrying out pipeline surveillance.

I pray for quick solution to this problem though

bishopkay:
Well there's a reason you guys are called zombies. Move 80% of naval assets there...what happens to other water ways of the country?

Currently the navy even have their hands full in the Chad basin and you want to deploy al assets there; Do that and watch the nation's sovereignty breached.

Food for thought...did moving d military high command to maiduguri stop BH? There are better ways for solving such issues and like the saying goes...kill a tree at the root not the branches.

Believe me when I tell u the creeks are currently under a state of emergency.
There are patrol troops, check points on the high seas, there's a ban on 200hp engine boats etc

So stop saying what you don't know

Modified :
Good Lawd you even put borrow from China to fund budget for two years. Jeez! Ur case is a pitiable bisma bisma in honourable Patrick's voice

Donjazzy12:
First off, Niger Delta Avengers is a creation of Tompolo tacitly supported by Jonathan. The whole idea is to force Buhari to come to the negotiation table and FG to abandon the legitimate case of graft it has against them.
PROS: If Buhari succumbs to this blackmail, the fight against corruption dies a natural death, militants becomes policy makers etc.Pipelines are safe.
CONS: If he fails to succumb, bombing of pipelines continue.
In a nutshell, this is what he must do.
1, Declare state of emergency in the affected LGA's. Push 80% of our Naval assets and some Helicopter gunships there. 2, Borrow from China to run budget for two years. 3, Never acknowledge or ever grant further amnesty to them. 4 Make an announcement anyone who habors Tompolo or any Avenger will have their houses demolished.
Watch as the idiotic militancy dies down in less than a year.

tbaba1234:
Most of the Infrastructural development is funded with loans but the vandalism will limit the level of success.

tbaba1234:
This is not an exhaustive list but it covers some of the most important projects

Concession Of 2nd Niger Bridge In Anambra And Delta States Including Payment Of Compensation And Consultancy : #13,136,816,518
Rehabilitation Of Enugu-Port Harcourt Dual Carriageway Section I: Lokpanta-Umuahia In Abia State C/No. 6208 : #2,774,495,649
Rehabilitation Of Enugu-Port Harcourt Dual Carriageway Section Ii: Lokpanta-Umuahia In Abia State C/No. 6209 : #1,734,059,780
Enugu-Onitsha Road-Enugu-Anambra State C/No. 6266- #5,468,119,561
Nenwe-Oduma-Uburu With Spur To Ishiagu Mile 2 - #2,167,574,725
Oji-Achi-Awgu-Ndeaboh Mpu-Okpanku-Akaeza Road In Enugu And Ebonyi States Section Ii - #1,134,059,780
Oji-Achi-Awgu-Ndeaboh Mpu-Okpanku-Akaeza Road In Enugu And Ebonyi New States Section I - #700,630,214
Rehabilitation Of Akpasha Omuatugbemuo Obuaffi Amodu Road In Enugu State: #300,000,000
Construction Of Oji-Achi-Mmaku Awgu Road-Obeagu-Ugbo, Enugu State New C/No. 6269 - 648,082,948
Ugwueme-Nenwenta-Nkwe-Ezere-Awgunta-Obeagu-Mgbidi-Mmaku Road Project - 262,736,330

Completion Of Construction Of A Mausoleum And Library Complex In Honour Of Late Rt. Hon. Dr Nnamdi Azikiwe: #914,860,046
Provision Of Furnishings In The New Mausoleum And Library Complex In Honour Of Late Rt. Hon. Dr Nnamdi Azikiwe: #110,041,625

Provision Of Solar Powred Light At Ezeagu In Enugu State, Outstanding New Liability: 54,731,490
Construction Of Roads At Osumenyi, Anambra State, Outstanding Liability: 96,705,600
Provision Of Solar Powered Light At Nnewi South Lga, Anambra State, New Outstanding Liability: 44,120,877
Provision Of Solar Powered Light At Udi Lga, Enugu State State, New Outstanding Liability: 65,645,097
Provision Of Solar Powered Light At Oji-River Lga, Enugu State State, New Outstanding Liability: 116,800,688
Provision Of Solar Powered Light At Awgu Lga, Enugu State, Outstanding New Liability: 257,604,420
Rehabilitation Of Orie Nguru Umuaga-Umukabia Road, Ngor Okpala, Imo State: 55,000,000
Rehabilitation Of Umudim Junction, Ohekelem Road, Ngor Okpala, Imo State: 60,000,000
Erosion Control Works At Egbelu Nguru-Umuoye Road, Ngor Okpala, Imo State: 100,000,000
Erosion Control Works At Ekeisu-Nkwoala Umuoye Enyiogugu Road, Aboh Mbaise/Ngor Okpala Federal Constituency, Imo State: 100,000,000
Erosion Control Works At Ihitte Junction To Afor Umuahiagu Market Road, Imo State: 50,000,000
Construction Of Workshop/Classrooms Blocks For Nnorie Sec Tech Sch, Nnorie, Ngor Okpala, Imo State: 50,000,000

Solar Street Lights In Udabor-Umuleri: 15,000,000
Provision Of Solar Street Lights From Afor Otisi (Alaenyi Ogwa) To Umueze, From Eziogbaku To Umuekpu : 20,000,000
Solar Street Lights In Umuanebe, Agbogugu, Enugu West Senatorial: 50,000,000
Rural Electrification Of Uhuana, Ozala, Umuobi, Ezeadam Isioji Ogwuma In Aguata Lga, Anambra State: 23,000,000
Coal To Power Generation Development In Nigeria In Enugu And New Gombe/Benue/Kogi : 234,979,698

Completion Of Enugu - Abakaliki Road In Enugu/Ebonyi States: 23,479,882
Output Performance Road Contract(Oprc) For Enugu -Abakaliki/ Mbok - Ikom Road: 64,000,000



Source: http://www.budgetoffice.gov.ng/pdfs/2016app/Works%20Power%20Housing.pdf

“The question is, why the innocent people of Gbaramatu, why the innocent pregnant women, why unleash terror on the aged people of Gbaramatu, Capt. Hosa, Major Yahaya, Ayiri and Brid. Gen Faruk must you waste all these innocent blood just to secure the pipeline surveillance job? Why making the innocent people of Gbaramatu suffer? This act of the Nigerian Army to us is the greatest act of cowardice. This fight we believe is against the Avengers and not the innocent villagers of Gbaramatu Kingdom.

CSTR6:
STFU.
You obviousy don't realize i was trying to humour myself with you. Ondo has 40 billion in 70 billion barrels reserves of the Nigerian state?haha. That is an unforgivable blunder.
In Nigeria, reserves is directly proportional to production. It does not make sense to have all the crude and not want to earn 13% derivation on it.
Even the official govt statistics on oil reserves in Nigeria does not attach that much importance to ondo as a major reserve state because it is not. It all exists in your ewedu addled imagination.
Heavy and light crude?lol. It seems you like introducing concepts you have very little knowledge of.

mrkayusfit:
By now the Niger delta skies ought to be filled with helicopters and bomber Jets from the Nigerian airforce so they can do reconnaissance and possibly eaves drop on the militants by monitoring their communications and movements . I guess this loads of problems included in their silly demands started on may 29 2015 after swearing Buhari into power?? Or what's the reason for their current madness When GEJ their fellow Niger deltan ruled for 6 years what efforts did he make to better the lives of the average Niger deltan? Instead he made tompolo and the likes of asari billionaires at the detriment of poor Niger deltans who have no drinking water. Buhari's first action was to order a $1bn clean up of the Niger delta starting from ogoni land after been sworn in. U people remained quiet for 6yrs since GEJ na your son and hero of corruption. Now you are ranting like a baby as if other regions in nigeria live better than you people. The government failed us all as Nigerians. We all don't have constant electricity, no good roads, graduate without jobs, no potable water, no welfare package and other problems scattered in every region due to failed leadership. We are not better than the average Niger deltan. Over 95% of Nigerians live in abject poverty while the elites from every region sit on national wealth. If we all face this problems nationwide how are we better off? The avengers are another group out to get its share of the National cake. Once the government calls them to the table and settle them with amnesty and they become billionaires like the tompolo's, they cease fire and the problems they lament about remains. Anyone who think those thugs care about Niger delta and it's environment needs to have his head examined. All they want is money, it has always been the reason for agitations in the past. Forget their silly demands. If they love the Niger delta so much they won't degrade it further by bursting pipes and bombing of facilities with which all Nigerians and Niger deltans survive with. Every Niger delta state receives monthly allocation from the FG which your governors use to pay workers and develop their states. The actions of these vagabonds makes your land poisonous for farming, your fishes and aquatic life will not survive. Your economy will be crippled and the after effects will make the non salary payment situation in bayelsa state look like a child's play. The problem of the Niger delta is the man standing in front of the mirror. Every one of u shares the blame because of the our OYEL mentality These ragtag militants from the 5% region should not be allowed to hold the country to ransom. Buhari should give a shoot at sight order to the military so the avengers can pee in their pants. if not for the innocent people living in the Niger delta, I would have recommended a total leveling of the region if necessary. Nnamdi kanu is the architect of these presents predicaments. He was beating the drums of war and encouraging rebellion on his treasonous radio before been locked up like a mere church rat. The useless Biafra the IPOB are demanding is an attempt to dominate the Niger delta resources in future. We will not let it happen. Nigeria shall remain one till the earth seize to exist. We the SW and core North are the only region not disturbing the peace of Nigeria at the moment . The 5% people are just a pain in our asses.

cc: fulanmafia

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chigoizie7:
U really don't get it do u? There isn't enough forex by black markets to see to all their needs. U really have to maintain the BOP, u don't want it in deficit. So, u can't get more than what we have as external reserve.

If u understand the principles of balance of payment, then u will understand what I meant.

Goke7:
Ok, who went to the Finance Minister to complain that they need fx from CBN to import PMS? Ghosts I suppose too, Madam I repeat if the business is as strenuous as you are spreading to everyone here, those marketers will delve into other businesses to reduce their bp, no be by force to import petrol nah.

Goke7:
abegi, who told you its all of them that are actually importing petroleum products, is that not why its a scam, how many of them are actually spending money to import petrol, is it those who pack water and put petrol on top to deceive regulators [of course they too are compromised] that are doing business? madam business woman, if the subsidy regime was that rigorous as you are implying, most of these marketers would have found something better to do that will reduce their hassles.

In that case, what price is pegged for the marketers?

Why wouldn't FG come out and tell Nigerians the truth?

Don't u think there will be more queue if NNPC sell @ N145 and other marketers sell above N200?

[b]Do u think the reason for the removal of subsidy is achieved? Maybe yes, to save FG some money, but did it save the general populace a dime? Will it reduce the queues in our petrol stations?
[/b]We all now know that prices of commodities in naija markets are all dependent on PMS prices, how much is FG going to gain with regards to how poor they will make nigerians? Does it worth it? Turning blind eyes to the plight of the masses?

Since FG has thrown the fx to open market, are NNPC among those dat will source fx anyhow they want?

Can petrol marketers survive in such competitions? Even the NNPC? Can they drag the fx market with other importers whose final prices of their goods ain't regulated by FG? ( a businessman is will to buy the limited fx from any market @ N500/$, import his goods, channel the cost as cost of production to the final consumer and still make his profits, can petroleum products dealers do that even when their prices are being regulated? )mind u, the availability of fx is limited with so many people @ demand.

Goke7:
so the cbn should continue to give them dollars at the rate of $197 for them to sell at N145 [which is what the marketers want] you don't get it, these marketers can't survive the post subsidy regime. The money they collect from Govt as subsidy even if its 8 or 10 months later is what makes them stay afloat. If I tell my bank who gave me loan that Govt is owing me, that bank is ready to wait forever to get that money cos Govt will surely pay even with the differentials in value of the naira against the dollar. This is what makes the subsidy regime so profitable to these marketers knowing that Govt can't cope too long with a fuel scarcity as the Public will turn the heat on Govt.

The marketers are pretenders, they still want subsidy, forget the deregulation message they preach

Goke7:
so the cbn should continue to give them dollars at the rate of $197 for them to sell at N145 [which is what the marketers want] you don't get it, these marketers can't survive the post subsidy regime. The money they collect from Govt as subsidy even if its 8 or 10 months later is what makes them stay afloat. If I tell my bank who gave me loan that Govt is owing me, that bank is ready to wait forever to get that money cos Govt will surely pay even with the differentials in value of the naira against the dollar. This is what makes the subsidy regime so profitable to these marketers knowing that Govt can't cope too long with a fuel scarcity as the Public will turn the heat on Govt.

The marketers are pretenders, they still want subsidy, forget the deregulation message they preach

cktheluckyman:
BTW these properties cannot be freezed by the orders of a lagos high court as there are outside its jurisdiction

LRNZH:
For the first time in 2016, Brent crude blend has hit the $50 mark in trading. Other global crude blends are not far off from this landmark price which eases a lot of pressure from the finances of oil exporting countries.

Unfortunately, Nigeria which is bedevilled by the ongoing renewed militancy in the Niger Delta spearheaded by the Ijaw dominated Niger-Delta Avengers cannot benefit from this as the country's oil production level has dropped to a 20 year low.

It is argued in certain quarters that the current surge in global oil prices is due to the reduced output from Nigeria. In which case, we have become a buffer for the rest of the oil producing nations at our own detriment.

This is not a good time to be a Nigerian. There is no sense in the afflictions we have brought on ourselves with this development.

lustychima:
Watch how pple wit no knowledge abt the subject matter come here and rant like some few above me



The only and best solution out of this mess IS A WORKING REFINARY just like me friend above rightly said

chigoizie7:
FG are so daft.

1st u calculated @ d template of 300/$ to arrive @ N145. Good.

2nd, u allowed the value of naira to dollar to be determined by the market when u really don't have enough dollars to go around. In this case, the demand outweighs the supply, automatically, the price will increase which means, if it increases and the marketers are able to get fx finally @ above 300/$ will they still sell @ N145?

FG make una ask una selves that question.no business man will want to be @ lose here.

Goke7:
the marketers can never survive without subsidy, that's what has been keeping them in business for so long which also makes them credit worthy to banks, now that subsidy is gone, most of them will wind up soon. Only the major marketers can survive post subsidy regime.

Most Nigerians don't understand this. The only solution to the fuel crisis, is working refineries period.

Firstly, regarding investment in infrastructure, I've already done that and will be starting manufacturing of a key product that's currently 100% supplied by importation. We will be the only local manufacturer in the country, and can significantly undercut the price of foreign imported product.

To your point about liquidity, you are plain wrong. The reason for the move to floating FX rates is to encourage foreign investment into the country again. That's exactly how you increase liquidity. Crude oil accounts for 91% of our foreign earnings, way too high. One of the ways to change that is to attract foreign investment into new industries in the country. These new factories will not only meet local demand, and thereby reduce foreign importation, but can also be exported to other countries, thereby bringing in more FX, as exports are typically priced in USD.

Capital flight has absolutely nothing to do with crude oil prices. Why would a foreign investor sell up their shares in a highly profitable local company because the crude pricesare low? No, they sold up because of the huge uncertainty around Nigeria'seconomic policies, one of which being FX. When you are seeing Capital Controls being put in place, you are going to scramble to get your money out before it's trapped in Nigeria. That's exactly what they did, that's what hot money does.

I agree that short term we will see a spike in prices locally because there are fewlocal alternatives. However, that will change as local manufacturing increases. Trust me, it's already happening. By the end of the year, you will see a lot of products currently imported exclusively, being locally produced.

1. The Naira will no longer be "Fixed" against the Dollar, but will now be determined by the forces of supply and demand.

Please note that even in a fixed FX regime, the rate is still determined by supply and demand. CBN spends our valuable FX to buy Naira in order to help stabilise the rate at their chosen rate. When the true underlying weakness of the currency becomes too great, the CBN simply can no longer supporting the currency or they will run out of money.

That's where we are now, and have no choice but to abandon the fixed rate policy. Even Saudi Arabia, with reserves of almost $1 trillion, is under pressure to abandon their fixed rate policy before it bankrupts them, never mind Nigeria with barely $25 billion left.

2. Contrary to popular belief the scarcity of FX has been caused by an unprecedented flight of capital out of the country since May last year, as investors were spooked by the 6 months delay in naming the ministers. Markets hate uncertainty, and that's exactly what we had.

3. The foreign investors will only reenter the market if they see value in the currency. Nobody is going to buy Naira at 197 when they believe the true value to be 300. Question, if you had $1 million in cash, would you agree to change it at 200?

The only way to solve the liquidity crisis that was created by this very same regime through very stupid policies (such as the imposition of Capital Controls), is to allow liquidity back into the country by allowing the currency to float.

4. The net effect of this should be that foreign money returns to Nigeria to help build the economy into growth. However, our ridiculous and almost absolute dependence on foreign exports means that we are likely to see a further spike in inflation in the short term, as the official Naira rate will likely be 300 to $1.

This provides a tremendous opportunity for local production to take off in a big way, creating millions of jobs in the process. The weak currency is effectively a 50% tax against importation, meaning that we can now manufacture cheaper than imports.

If we are smart, we will seize this opportunity.

Regards

Uvie

sigmundfreud:
"He, however, said the apex bank would retain a special window to fund critical transactions in foreign exchange, which would likely attract a concessionary rate."
Therein, lies our problem!
REMOVE THE SPECIAL NONSENSE.

OBAFEMIawolowo:
The list should be

1. Lagos
2. Abuja
3. Port Harcourt
4. Enugu
5. Ibadan
6. Kaduna
7. Calabar
8. Kano
9. Uyo
10. Owerri.

My opinion though

Icecomrade:

The Last time i checked ardent Buhari supporters told me the economic hardship will go away as soon as the budget is passed. I requested for concise changes to expect, as usual they get give any. All they can offer is to keep faith foolishly in Buhari

The budget passage has come and gone.

Am still waiting for something to show that Buhari has capacity to rule this country.

What I see daily in his economic policies is a man ignorantly driving the populace of this country to abject poverty.

papparatzzi2013:
NDA is IPOB and IPOB is NDA.

Why are they clamouring for release of the Bleaching Lunatic aka "Our Dilector ".

We cannot be fooled. SE is using NDA to destabilise Nigeria.

papparatzzi2013:
NDA is IPOB and IPOB is NDA.

Why are they clamouring for release of the Bleaching Lunatic aka "Our Dilector ".

We cannot be fooled. SE is using NDA to destabilise Nigeria.

moscobabs:
Lagos SMK 195 CV