₦airaland Forum

Names and Content really matter. No matter how good the content is the name will take the glory away. Though content far outstrip name with respect to the unfolding arguments.

Attached is a link where you can download Dubai Sports City.
http://www.dubaisportscity.ae/about-dubai-sports-city/project-masterplan.html

Dubai is developing different city themes and this sports city really captured my fancy.

Olokola city plan vision should be rich as there is a lot to learn about the selling points and the downsides of existing cities. Like Bur Dubai and Deira are now building metro systems to ease traffic. Not sure if they were on the original plan. But the ongoing construction suggest looks like an after thought to combat traffic congestion.

Pray something great comes up that we can start translating our education to physical tangible things in our Country that we can all be proud off West - East, South to North.

I don't like the reference new london and all the so called names who may end up snobbing the development. Dubai or Abudhabi never named any city after any mettal or whatever. It will be better local names of surrounding communities and those of first investors to complete developments are used. eg. Zenith Bullevad or Jim Ovia or Awolowo or Azikiwe or Obasanjo or Muritala or Akintola bullevbad. I believe we will get more respect with such naming.

Babasin. What does the SIN stand for?
Is it looking for peoples sin?

@vikiviko. Nice thread.

You also need to thing seriously on Industrialization.

Age 0 - 20 Man is trained in schools
Age 20 - 60 Man works in one capacity or the other contributing to the standard of living of his society.
Age 60 - ? Man continues working in a more advisory way most of the time.

Thus for every 1 school you need at least 3 places of employment of sorts.

What are the major sources of employment that Ijaw Land has economic advantage on.
What are major demand areas. e.g. the swampy nature needs lots of bridges, canals etc. You need a boat / over craft manufacturing industry to enjoy nature in this region.

I was in Nembe (Bassambiri) for the coronation of the HRM (Dr) R M Iwowari (JP) Mein VII, the Amanyanabo of Nembe (Bassambiri). Silva was there, Ebibi was there, Alamsco was there and hailed seriously when he arrived. Looking at the terrain in Nembe it is challenging. Road to Nembe, Road to Brass, Plenty of Oil and Gas. Include in your plan plenty of thoughts on how to create a high standard of living by their being plenty of industries and internal capacity to build bridges capacity etc as cheaply and efficiently as possible. Can write more but will stop here for now.

Nija1, you said it will be like london and t. Are undergrounds being planned also. Like I read something about London related to designed to be moving or always moving. Despite the huge population density of London you can always plan your movement and say you will move from A to B in about x minutes.

Have also seen the city plans for Dubai ?

They have all sorts up their sleeves. Dubai sports city etc. They even have a place with islands with all countries in it. Despite their plenty of roads the place is now log gammed with traffic as they rely heavily of moving people by cars and taxis.

Thus Olokola needs surface and underground train services. It needs to be the new center of excellence. I am currently working on a proposal to invite a a steel firm to open shop in Ondo State / Olokola. I am really keen on this plan even if I have to create my Own non-governmental non-profit organization, with a vision of turning the country around helping state governments focus ob better city planning and industrialization that create jobs and wealth for the Nation.

Do keep me posted.

Nija1 what exactly do you have?
Understand from one latest UN report, there are only 2 cities in Nigeria by the definition of city (Lagos and Abuja). Others have lost their original plans and are now simply large human settlements.
Thus I am keen on seeing what plans there are for Olokola.

@Nigeraone, Read in one thread that you are doing some work on Olokola. Please do you have the proposed city map and or the latest website for this development.

[size=21pt]I salute Mallam Nuhu Ribadu. He said it on CNN when Femi Oke took the spotlight on Corruption in Africa. Nuhu said "when you fight Corruption, Corruption fights back".

His removal is corruption fighting back. Those pointing at Obj anyhow is corruption fighting back.[/size]

One of the best things in OBT administration is the EFCC and the Fight on Corruption. And Mallam Nuhu Ribadu led the war gallantly. Governors that were seen with bags of money in the UK some eight years back had the courage to say weting concern you in those days. Na my state money and no only them can talk. Now no governor will admit you saw them with bags of money like that as it is now clear to their corrupt minds that they will be labelled as corrupt and it can lead to charges against them. Thanks to the Leadership of OBJ and NUHU on this.

A good point from this House of Reps Action is that banks should return over subscription money with interest. Apart from this I do not see much as Wadada did not deliberate clearly about improving financial controls with respect to Auditing of the Accounts of quoted companies coming to raise money.

I am not impressed with these politicians as they have poor track record in improving the GDP of Nigeria. Look at electric power and all the waste associated with with our current state of things. These people just sit back and do the minimal. My feeling is these people in the house have other bad belle issues and hidden agenda.

Nigerian Banks are still very small. Also the Economy still needs a lot of funding. I see these bank IPO's/PO's bringing in a culture of savings / investments that in the short to medium term will cause Nigeria to move to the next level in economic growth. Most of the time our Politicians are always fast in retarding our growth. See how poor the North is. They top the poverty index, what are Politicians like Wadada doing to improve the economy up North ?

These politicians should please not retard our growth. The biggest Nigerian Bank is still nothing compared to the smallest South African Bank. Yet we call our self Giant of Africa. One of China's Banks raised a whooping sum in an IPO in 2006. Perhaps the world's biggets. The Industrial & Commercial Bank of China Ltd Raised $ 19.07 billion (N 2.2 Trillion). http://www.seekingalpha.com/article/18887-industrial-commercial-bank-of-china-sets-new-ipo-record-at-19-1-billion

I agree financial reporting controls need to be improved and that is why the USA introduced the SOX Act. But these controls are very much needed in Government Expenditure than in the Banks at the moment in Nigeria. Wadada please remove the log in your eyes first before removing the spec in SEC.

Otokx what happened with the Skye Shelter Fund. Please give some details. I think I saw it when it came out and I rated low if one wants to grow capital aggressively. It will more of secure capital better in the case of a market reversal which I think chances of happening next year is low. So tell me what made you disappointed.

My call to take position is limited to my estimate of the group performance for Banks in 2008. Skye bank will give the investor wanting to take new or further position now one of the best returns by end of 2008.

Time to take position in Skye Bank. With current prices on the floor I see this Bank Stock ending the year in first quartile by the end of 2008 in terms of total returns. i.e. Dividends and Capital Appreciation.

I used to have the equity bank ATM card (now merged and know as intercontinental). It was purely an ATM account then. By the time I drew most of the money I had, I was adviced I still had more money in the account. This made me worried that they will be suffering losses if this happens to crooks. Till now I'm adviced I still have a balance with them but I have ignored them. Perhaps from losses of the past they have swung to gains now by their system preferrentially logging money has been collected even when it hasn't as a result of IT network instability? Thus it is no use reactivating the account for use as things are no better !

My Starcomms works fine. Above 90% uptime. Once its no more connecting I disconnect and re logon and I start surfing again. But on voting sites like the one in Punch news papers I always get the message I have already voted when I try to vote most of the time. As if all of us on starcomms have only one vote ?

The returned money related to the final price, which from my calculation was N28.5

I have heard a lot about Aro. Will like to visit as a tourist someday. Please do share some pictures.

I think the house should focus more on enabling environment for business as against intimidating operating companies. Steady Power, Improved Security and Rule of Law, Improved Codes of Practice for companies that encourages investments by companies while not cheating consumers like the way MTN and co are cheating now.

Then they will not be directly involved in issues like MTN (where perhaps they will most likely end up getting some personal gratifications and close the matter silently) but will be more focused and providing true Leadership. Not Area Boy showmanship.

Lekosoo, the minimum you need for Zenith is N 38,900. So with N 10,000 only you Zenith Offer offer is ruled out. Also BankPHB is rulled out as the minimum is N 17,000. Costain is ruled out the minimum is N 13,000. Though I haven't seen the Aiico Prospectus but I suspect you will be better off looking for it and going after it. And the chances are high it will double your money in less than 6 months.

Waoo. This is an excellent idea worth buying into. Thanks London Cool for link to the prospectus.

If investments like these keep coming up and become successful West Africa will feel the impact. They are worth really investing into. Though risky, the returns are rewarding 2 fold. Cash in your pocket (PE of 2) and your contribution to developing Nigeria / West Africa.

Some further research is needed before investing.

Look forward to some great investors to package the first Private Steel firm that will be a huge success. It is long overdue. Perhaps you will hear of my private placement very soon. Target sites are Kogi or Oshogbo or Olokola or Calabar. Targeted Technical partners are Kobe Steel of Japan or Posco Steel Korea.

Smart Lady. Posterity will reward her. English is spoken throughout UK without hassle. Someday Yoruba may be a West African Pride. In fact I will support any West African Language that rises to be the pride of West Africa. Something we can richly be proud of in West Africa in the years to come.

Especially when backed by an excellent welcoming home city for all pure Africans without discrimination. A place like Lagos. Or Accra, Calabar or ??. A place where you can mingle, join in speaking the Language and feel at home.

Yes the idea will yield 100% in a year if you position and own the idea.

By Dec 20th onwards it should be clearer as I understand FirstBank may be the first to credit directly to CSCS accounts.

Zenith has better brand name and more established than BankPHB in current business volume. This may make it to continue growing aggressively especially since 90% of the capital to be raised by Zenith will be used for Working Capital / Project / Infrastructure Financing. Unlike Bank PHB that will be spending about 48% in such ventures. However this is the 3rd run of Zenith in the market and has already made money for branch expansion etc that BankPHB is just going for in this its first Public Offer Run. With time it is possible BankPHB will get its Brand name as strong as Zeniths.

On the current offer statistics basis, BankPHB looks better. Comparing BankPHB/Zenith
1. Forecast PE's are better. (2008, 2009, 2010 = 13.7/20, 7.9/14, 6.1/10) i.e. the offer prospectus says you will recover your investments faster in BankPHB.
2. Current Price / Book is about same. But BankPHB will have a better post offer price to book as there are less shares / market capitalisation at the moment.
3. Forecast Dividend is mixed. (2008, 2009, 2010 = 2.2/2.7%, 3.8/3.1%, 4.9/3.5%) i.e. the offer prospectus says you will get more dividend yield with BankPHB in future.

The final decision is yours.

No state is as welcoming as Lagos.

Lagos is home to a lot of manufacturing and continues to be a preferred location for new businesses because it welcomes all. It even welcomed returned slaves in the past without discrimination and they are fully integrated into the society !

It is even poised for greater things, the LEKKI Free Zone is coming up, very soon it will also be an Oil Producing State from Offshore Oil fields.

And all who chose to be associated with Lagos are welcome to join hands in making it a true center of EXCELLENCE.

Other states will soon start getting less hostile from the good example of peace loving Lagosians.

Sooner or later all Nigerian states will stop discriminating between indigenes and non-idengenes and rather be interested in establishing welcoming cities where the rule of law with fairness to everyone reigns.

To all saying negative things, Rome was not built in a day. The Government is looking into making the city a MEGA CITY and in future will not have room for the filty people who litter and pollute the whole state. Incinerators and Land fills will be used to manage the waste.

If speaking Yoruba in the House will make Lagos get to this next level and become a West African pride so be it! (This will definitely make some people jealous and this can be used positively by getting other states to start competing in attracting businesses and make better use of the big banks / abundant human and material resources)

Why all this bitterness about Yoruba being spoken in the Lagos Assembly?
Is one not free to speak the Language that he feels free with at home with spouse, kids and friends?

Lagos welcomes every person and will still welcome all those that choose it !

If speaking Yoruba will help bring sanity to the way things are done, what do we stand to loose?

Lagos is home to a lot of manufacturing and continues to be a preferred location for new businesses because it welcomes all. It even welcomed returned slaves in the past without discrimination and they are fully integrated into the society !

Lagos welcomes every person and will still welcome all those that choose it. There is no cause for alarm if Yoruba is used in the Lagos Assembly.

AYLALA, I agree there may be short changing in the pricing. I still wonder why GDR's. Only considering it as my Broker is marketing it and they did a good job with GTB (Final Price N28.5 per equivalent Share). The other goodside is I will not have returned money like FirstBank and the last Dangote offer (which is also a short-changing). Good to see GTB is on your list.

Agree with you Niger Insurance is a good buy. I am still analyzing the rest. Buying it may be a better bet than all the PO's / GDR. You get what you buy straight away no waiting for verification. And it may really result in more wealth once their released funds drive down the PE in 2008 (may end 2007 with PE of 25).

@AYLALA

The advice on GDR looks stiff, do you have further insights or reasons for advising against buying GDR's listed or un-listed. As I see the Diamond Bank GDR as a buy. It will most likely go at a 10% discount and this gives a very nice entry price of about N 16.5 Also the PE at this price is relatively low (current / projected PE of 22 / 18) compared to other banking sector stocks.
Also don't forget the good side of the GDR is your broker can tell you if you are going to get what you are intending to buy before you buy. And the Certificates come very fast. (Based on GTB GDR experience)

Obalende, I no get any special data on insurance stocks. However read from stockwatch newspaper that LASACO and GUINEA INSURANCE have very low PE's. However by the time I checked the prices I notice they have gained 20% and 100% respectively in November. Now not sure if the momentum will continue or the price will drop in December and recover next year to new higher levels.

PO comes with more guarantee of capital but not necessarily superior capital gain. It also has disadvantage associated with certificates (not being able to take profit as soon as one fancies), till the new direct credit to CSCS takes effect. Still looking for FirstBank direct credit to CSCS if they will lead on this.

I think Insurance Stocks will give good returns in 2008 if one selects well and takes position right away before they come with an avalanche of PO's. If one can make good selection and buy now, he/she will make good gains in 2008.

Also some non-bank / insurance stocks need to be identified. More info is needed on Interbrew, Transcorp etc. Any one with clues ?

Baba (OBJ) tried. And Yaradua is trying. Very soon things will get better and better not only in the stock market but in other areas.

Sooner Nigerians living outside will need to re-validate their citizenship before they are allowed to return as any one of African Ancestry will start claiming he is a Nigerian.

You need to find out why the change and try to help him if you consider he is still changeable to his old former self. After all when you met him and earlier years he was such a nice person. What or who turned him into this monster over the years ? Try to see how you can get back to the old state when love reigns with good compliments all the way as against complaints that may be reigning full blast from both sides at the moment. Perhaps you can heal the relationship. Also you need to talk and try to understand things that you do that hurt him or make him feel threatened.

As per beating. I do not support it. However who threw the first punch. I am not saying that even if you threw the first punch he has the right to beat you other than defend himself and get away from arms way.