₦airaland Forum

Nigerian politicians are being clever by half, that is one of the reasons the country is not making much progress.
The intent of the constitution in my understanding regarding funding the three tiers of government is as follows:
The federal government collects revenue due to the federation to the (Federation Account ) and then distributes among the three tiers of government. This supplements the revenue collected by the states and local governments individually.
The share due to states and local governments are paid to the joint state and local government accounts. Replicating what is done at the federal level. The state will then distribute to the local governments. But it does not stop there. The state government is supposed to SHARE part of its internally generated revenue with the local governments.
In essence the federal government has one stream of revenue. The states have two while the local governments should have THREE.
Why should this be the case because the local governments are closest to the people. And should provide for their basic needs be it health, transportation, schools and other social services.
This is one of the reasons there appears to be so much poverty in the land.

We have to be a bit creative about this lingering problem. We don’t need state policing . What we need is a decentralised Nigerian Police. Power should be devolved to the Police Commissioners in the states. The IG cannot run the police from Abuja. Second funding should come from the three tiers of government. So the state police commissioner will prepare his budget based on funding input from the three tiers of government.The federal government may pay salaries, the state governments in charge of building infrastructure and local governments could maintain for the benefit of the local population. Also the state police commissioner will only be appointed after prior consultation with the state government, conversely if the state police commissioner is not up to the job, the state governor can publicly declare that he has lost confidence in the state police commissioner. In that case there are checks and balances.

And also to his home in California.

Up ADRAO

We don’t need State Police. People tend to refer to countries like the USA as examples. Local police in the USA are the most useless in terms of policing. Remember the incident that sparked off the black lives matter protests. NYPD, LAPD all have problems. Same thing in Brazil where Federal Police has an overwhelming presence.
What we need is a hybrid arrangement. In terms of control, the federal government is allowed to appoint state commissioners of police after consulting the state Governor. If the the governor is not happy with the performance of the police commissioner he has the right to declare at statement of no confidence in the police commissioner which must lead to his replacement.
Funding must be provided by the three tiers of government. The state police commissioner budget is funded by the three tiers of government. The federal government may focus on personnel costs while the state and local government focus on capital expenditure. Like building rehabilitation of police stations, providing IT systems with the state, vehicles and other equipments.
The lower cadre of police officers should be residents of the state.
State Police is not a silver bullet.

Kalulu44:
Lets leave Frank, and the other six, they're also junior to Tunji

I think Tinubu strategy is to appoint those he could easily fire if they do not perform. One of the reasons the country has failed to make progress is we keep appointing people based on geopolitical zone. To do this the president sometimes has to rely on the suggestion of political associates from other geopolitical zones. If this person then fails to perform, it becomes difficult to fire him in order not offend anyone. After all he representing his geopolitical zone and not necessarily to perform.
Tinubu is our first foreign educated President and you can see that in his thinking. He thinks logically and as they say logic removes most of life’s errors. He relies on logic and ignores illogical arguments.

There is absolutely nothing wrong with this policy. The whole process is “Darwinian”, if you are unlucky enough not to be selected for the top position, then no other opportunity is left. The next move is retirement.

My take is the clause was inserted in the PIA to placate the powers that be. Those above the River Niger. The 30% retention was to be used for the oil exploration in the Frontier Basins mostly in the North. But the point is if there are viable reserves in these basins IOCs would have been scrambling to acquire them. Why retain 30% belonging to the Federation for the purposes of exploration in potential fields that IOCs have ignored or unwilling to explore. Eventually this accumulated funds might turn into slush funds for the NNPC.

rummmy:
can you tell me more about suspension
..im waiting

Under the state of emergency declaration, the President has suspended the Executive and the Legislature as provided under the constitution. And appointed a Sole Administrator.
This is not new, even in the worlds oldest democracy this happened. The Prime Minister of the United Kingdom was granted emergency powers by the House of Commons during the pandemic. This gave the PM powers to make emergency laws as and when required without recourse to Parliament. And this power was in fact exercised by the then PM so it is not new.

First of all I am not a lawyer, but what most people don’t understand is the constitution has been effect been suspended as regards the state in question. That is why it is called State of Emergency. This “unusual” situation can only be ended through the following means:
1. If the President calls off the state of emergency.
2. When the six month period elapses and is not renewed by the National Assembly.
3. If the Supreme Court declares the declaration null and void.
Nigerians should stop being emotional about this issue. The constitution already provided sufficient checks and balances with regard to the declaration of state of emergency.

One thing we seem to be ignoring is that the Chinese loans are similar to Export Credit Guarantee Schemes. The purpose is not to help the Borrower Country but to further stimulate and grow the economy of the country lending the funds. For example the USD disbursed under the Chinese loans would not physically leave China. It is paid by a Chinese Bank to Chinese Contractor who then procures Chinese made equipment and machinery, employs mainly Chinese workers. So in terms of cash flow the funds get disbursed from a Chinese bank to Chinese entities. While counterpart funding received from the local country is used domestically.
So I would say these loans are not given for altruistic reason. Just look at the quantity of trains and stations built for the Lagos Ibadan line and compare with trains in Senegal and Morocco.

Guys use your eyes and intelligence. The taller guys are in the middle while the heights tappers towards the extremes. More like a ‘Bell Curve’.

But I think the Red Line should have been extended into Lagos Island. Linking the Red Line to Blue will congest the National Theater Station. The optics of the extension would not look good. This is being penny wise and pound foolish. Further more Lagos Island should have unground metro. If Amsterdam could have one why not Lagos.

The bag contains the Holy Koran. For some reason Muslims do not hold the Holy Book during swearing in ceremonies.

thesicilian:
There is no concrete evidence that democracy is better than military rule

Well done look closer home and see the destruction done to Nigeria by the military. I believe it will be utterly impossible for the country to recover from the damage from 1966 to 1999. We are still reeling in the consequences of military rule.

Sanusi’s father was never an Emir. He was a diplomat and ambassador. Rather his grandfather was Emir.

In my jurisdiction, it’s a crime to contact a customer if you have any suspicion about their transaction. It’s called 'tipping off ' which is punishable by up to seven years imprisonment. Not to talk about informing a customer when they are under formal investigation. But anything goes in Naija.

I think the foreign airlines are acting from a play book. Engage in a price war to force out the threat. Then jerk up the price after the forced exit of the threat.

Trust East African Indians, they compete in smartness with Nigerians. They were able to dominate the commercial sector of most East African countries. When they moved to the UK the same thing. Their smartness made them successful in business. Indian African outsmart naija in short.

My sympathies to my brothers (and sisters) who have been through this gruelling experience.
But I have one more question. Is it supposed to sink or float? I hear when it floats it’s a bad sign. Why do our oyinbo brothers (and sisters) not experiencing this ? Theirs is usually watery. You can sometimes hear them when the thing bust out with force.

That’s the original African way of cleaning up. It called “Tamba”.

I believe the government should stay on course. No backing down. We are nearly there. I can see some light at the end of the tunnel. To my friends buying up dollars as if there is no tomorrow, you will get burned sooner or later because what we have today is not the fair value of the naira and the market will surely correct itself sooner or later. When this happens the speculators will be rushing to dump their dollars and that will further depress the value of the dollar. It is going to be a race to the bottom for dollar speculators. Tinubu is a smart man he knows what is going to happen.
For the government one solution is to establish NGN/USD ETF to segment the fx market and provide a separate ecosystem for current speculators and indeed hedgers

ScamKiller:
A helicopter is not more complex than a plane. It is just much more delicate, much more vulnerable, much more unwieldy and has much less finesse than a plane. A plane is a vastly more technological and engineering marvel than a copter. Just the complex intricacies of a plane's jet engine alone has more complexity than an entire copter. The rotors are pretty much the really complex thing in a copter.

You need to understand how a helicopter takes off and remains in flight. There is the vertical rotor and the horizontal rotor. The pilot need to balance thrust created by these different rotor. The bigger rotor keeps the copter in flight while the smaller rotor behind stabilises the aircraft.
That is how a copter turns there is a change in the trust ratio between the main rotor and the small rotor. The aerodynamics of a helicopter is less straight forward.
Planes fly mainly by the thrust generated by the engine and Manoeuvring the wings and stabilisers.
Passenger airlines are essentially run by computers. The pilots simply load in the data and the computer generates the take off speed, V1 etc. There is also the auto pilot when the plane reaches cruising altitude. Planes are also build with lot of redundancies as well.

obrian888:
You are right, Planes are build to fly, while helicopters are being forced to fly.

Aptly put, the only advantage it has is no need for a runway. And I believe it should only be used for short distances.

todugo:
what do u mean by complex? Do you know how many engine and control units a plane has?

Go and read about how a helicopter becomes and stays airborne. Then a plane's aerodynamics.

The truth is a helicopter is a more complex aircraft than a plane.

To all my friends trying to hedge their funds with FX know that the foreign exchange market is very volatile. Even for Financial Institutions, we hedge our FX positions using FX swaps in the short term as we cannot predict long term currency movements.
Twice in my career GBP:USD rate had been 2:1, meaning one Pound would fetch you two Dollars. Today the rate is about 1.2 to the Dollar.

I’m quite concerned about this being made public. This may only embolden currency speculators as they know the support of FX is not open ended. They might as well turn this into a binging frenzy on dollars and bet against the staying power of the CBN.

Fujiyama:
^^^
Perhaps you can educate me. I am here to learn.

Will this ETF be guaranteed by bank deposits or not?

In practice, how do you differentiate between speculators and those with 'genuine' need for USD?

My friend l’m also here to learn. Speculators will buy dollars and keep under their pillow. They are only trying to hedge their risk. They have no interest in utilising the dollars purchased other than selling at a future date.
An ETF will help by saying to them, my friend no need to keep dollars in a safe or under your bed. Simply buy units of the ETF which will mirror the NGN/USD rate. Physical dollars will be left for those who need them. So it’s a win win situation.

NewDea4:
So that CBN can air them when they try to redeem...

You should be able to see why governments need to be trustworthy by now, Nigerian government is a criminal enterprise and you'd be a fool to rely on them

An ETF does not work that way my friend. Take a Gold ETF, you do not go to the Provider to collect your bullion or ask to inspect their vaults. Technically you are able to redeem your ETF at a price close to the value of gold in the metals market.

Fujiyama:
^^^
Tell them!

I will suggest you do a bit of more research into ETFs and how they work.

Can someone advise the powers that be to create a Naira/Dollar ETF backed by USD held by the CBN or any strong Financial Institution. This will segment the market. Those who need the dollar for speculative reasons or as a store of value can buy this Instrument. While the real dollars will be left for these who have genuine need for forex. The ETF will fluctuate/mirror the naira/dollar rates but will be held within Nigeria.
For further details can you ask the CBN Governor to contact me.