₦airaland Forum

Alcatraz003:
Igbos are really suffering oookk, in all my life which has been spent in the SW, i jabe not seen a road as bad as this.

I dont even know what to say sef.

adimsmt:
I understand what you are saying and i agreed with you, but just the same concept and a little design changes can be better and cheap for common man. This is better then what we are doing right now.

Abagworo:
Port Harcourt has housing challenges because of the housing pattern. The natives mostly build clustered bungalows while non natives build family houses either as fenced bungalow or duplex.

Real2020:
Afonja...oya come and do what you are good at...offer gratuitous advice on how the spill will poison our waters, fish, air and food. Afonja environmentalists.

Abagworo:
What is business of your biagra in this thread? The thread is about bombing in Bonny by Avengers not IPOB.

Abagworo:
You might find it funny but I will like to be driving on Douglas Road doted with only buildings like this one. Compare with the 2nd photo of regular Igbo city buildings.

Abagworo:
Architecture matters a lot. We need to ban building of those funny 4 storey buildings along major roads. Buildings on major roads should be glass or bonded houses.

The country’s external reserves have depleted further to a record-low of $24.8bn, according to the latest data posted on the Central Bank of Nigeria’s website.

The foreign exchange reserves fell by $600m in two weeks before shedding $1bn in four weeks, the CBN statistics showed.

Specifically, the reserves fell from $25.8bn on August 16 to $24.8bn on September 16. It decreased by $600m from $25.4bn recorded on August 31 to $24.8bn on September 16, the current CBN data revealed.



The spate of decline in the external reserves follows the CBN’s almost daily interventions at the interbank/official foreign exchange market in recent weeks, as chronic dollar shortage continues to weigh on the economy.

In its efforts to defend the naira and prevent it from falling further at the official interbank market, the central bank has been selling dollars there more frequently.

The naira had fallen to an all-time low of 365.25 to the dollar at the interbank market on August 18 before making a gradual recovery.

On Tuesday, the local currency traded at 307.25 against the greenback.

At the parallel market, the naira, which has been under persistent pressure, closed at 424 to the dollar on Tuesday, after trading at 425 against the United States currency on Monday.

The external reserves fell by 2.86 per cent to $25.45bn on August 29, 2016, up from the $26.2bn it recorded at the end of July.

Year-on-year, the reserves have fallen by 18.9 per cent. They had fallen by 0.4 per cent at the end of July, down from the $26.34bn recorded on June 29.

The foreign exchange reserves stood at $26.42bn on May 28, down by 9.2 per cent year-on-year.

The CBN had on June 20 lifted its 16-month-old currency controls and auctioned about $4bn on the spot and futures market to clear a backlog of dollar demand and help boost interbank market trading.

The global plunge in oil prices has caused the reserves to be depleting very fast. The development had forced the CBN to introduce foreign exchange controls, which were abandoned in June.

The CBN’s Monetary Policy Committee announced plans to adopt a flexible exchange rate policy after the external reserves fell to $26.56bn on May 23.

The external reserves have lost over $2bn this year. The nation recorded a balance of payments deficit of 1.4 per cent in its Gross Domestic Product at the end of 2015 owing largely to its first current account deficit (three per cent of the GDP) in over a decade.

The nation’s external reserves reduced by $6.7bn within a period of 21 months, the Minister of Budget and National Planning, Senator Udo Udoma, said on March 23.

DeleteNonsense:
I think IPOB reformatted vanguardngr.com brain by that boycott campaign and eventual ceasefire announced by IPOB.

A7:
Anambra state's take off was very bad, other states enrolled in this FG's initiative do not start with a meagre 4,000 farmers. Kebbi for example started with more than 70,000 farmers, Adamawa is about to register 120,000 farmers, plateau has registered 100,000 and Jigawa 50,000.

There are other states currently registering, none with less than 4,000 farmers.

I believe Anambra is bluffing. I will agree if the claim is about feeding Anambra only. Nigeria and Africa cannot be fed by one state with 4,000 rice farmers in just 8 local govts.
it is impossible, the claim is absurd, believe at your own peril.

ackmann:
You mean that you are stuck in your dirty thirdworld shiithole . so you are comparing anambra which is gutter to israel? whats the size of Israel and whats the size of anambra ?

ackmann:
primitive man with third world mentality.you think I give a shiit about your inferior tribes. I stated facts . enjoy your shiithole country.

mrvitalis:
Lol maybe u need to read... Unn was established in nsukka first... unical today was the campus for medical studies while unec enugu was for law... Bro u know nothing

Lajet:
I'm in support of Biafra Republic that will not include Urhobo,Benin, Ijaw, Ikwerre, Itsekiri,Isioko

jmichlins:
please when next you want to do copy and paste don't be lazy about it. Do some editing. Am already tired of hearing how difficult the Nigerian situation is so these journalists should save us some trouble of publicising it

On a site four times the size of Manhattan along the banks of the Niger river, the Ajaokuta steel plant was supposed to symbolize Nigeria’s modernity and prosperity rather than its failure.

Russian contractors first started building it in 1979 and estimates on how much has been spent range from $4 billion to $10 billion. The state-owned company that owns the facility calls it “the bedrock of Nigeria’s industrialization.” It’s yet to produce any steel.

“It’s not about resuscitating it, it’s about developing it,” Frank Jacobs, who runs a company making wine from pineapples and heads Nigeria’s main manufacturing association, said at his office in Lagos. “If you say resuscitating, it means it was working before. It hasn’t worked. There’s nowhere a country can industrialize without steel.”

Africa’s most populous country has gone from a promised land for Nigerians and foreign investors alike to one of frustrated fortunes. The decline looked complete last month when Nigeria’s vice president said the country was in the worst economic crisis it had ever faced. The currency has collapsed and output is set to shrink this year for the first time since 1991 after 8 percent-plus growth through the 2000s.
Creaking Country
The nation remains blighted by the mismanagement and corruption that were rife during the oil-led boom years and its dysfunction has been more exposed since the collapse of energy prices. Transport links are in tatters and blackouts are common because the country produces just 10 percent of the electricity of South Africa, which has one-third of Nigeria’s 180 million population.

Islamist militant group Boko Haram has wreaked havoc in the northeast, killing tens of thousands of people and leaving 250,000 children needing food aid. Other groups blew up oil pipelines and export terminals in the southern Niger River delta, sending crude production to an almost three-decade low.
Nigeria’s 36 states are so cash-strapped that many teachers, pensioners and civil servants have gone months without pay. The governor of Imo, home to about 4 million people in the southeast, announced a three-day working week, telling bureaucrats to farm on the other two. Nigerians are even scrimping on protein in their diets, according to the head of Nestle SA’s local business.
‘A Mess’
French construction company Bouygues SA has halted some projects and plans to do less work for the government because of the risk of not getting paid.
“The last two years have been terrible,” said Andre Guillou, Bouygues’s vice chairman in Nigeria. “It’s a mess.”
At the 92 square-mile (240 square-kilometer) Ajaokuta site, a three-hour drive south from the capital Abuja, cows graze on grounds that were meant to store iron ore, coal and lime, and thousands of houses for workers lie empty and windowless. A railway bridge across the river has never been used because there’s no line linking it to ports or manufacturing hubs. It has produced rods, wires and machine parts -- on and off -- and banks, hospitals and schools are open for the local community.
“I did some work at the plant, but there is not much to do there yet,” said Sulaiman Abubakar, a 56-year-old father of nine who lives near Ajaokuta and studied metallurgy in his youth so he could get a job there. Instead, he drives a keke, a Nigerian version of a motorized rickshaw, and wants his children to become engineers. “They will get jobs once this plant starts working,” he said. “We still hope it does, because it’s all we have.”
Crash Landing
It’s hard to imagine in Ajaokuta that investors once drooled over Nigeria’s prospects.
Fidelity Investments promoted “MINTs” in April 2011, saying Nigeria, Mexico, Indonesia and Turkey were the emerging markets of the future, an opinion reinforced by Jim O’Neill, the former Goldman Sachs economist. Consulting firm McKinsey said Nigeria had the potential to grow 7 percent a year through 2030, ultimately making its economy larger than the Netherlands, Malaysia or Thailand.

Then came the 2014 oil crash. Foreign investors fled and the economy tanked. Though Nigeria was always going to suffer from a drop in oil prices, it was the government’s bungled response that made it worse, according to Martina Bozadzhieva, an analyst at Frontier Strategy Group.
President Muhammadu Buhari, a military ruler in the 1980s, came to power again last year, this time via the ballot box and on a wave of optimism that he would fight corruption and revive the economy. He took almost six months to form a cabinet and only approved the 2016 budget in May.

He also leaned on central bank Governor Godwin Emefiele to peg the naira, ostensibly to stop prices of food and transport rising. Instead, inflation soared to an 11-year high of 18 percent as businesses struggle to pay foreign suppliers for the machinery and raw materials that aren’t available locally. Since June, when Emefiele gave up trying to support the currency, the naira has plunged 40 percent against the dollar. S&P Global Ratings downgraded Nigeria five levels into junk territory on Sept. 16, saying the economy had performed worse than it expected because of the attacks on oil facilities and Buhari’s foreign-exchange policies.
“The confidence in Buhari is very quickly evaporating,” said Bozadzhieva, whose company advises multinationals like Coca-Cola Co. and General Electric Co. “Firms are close to that point where they say: ‘You know what, this is a disaster.’ It’s okay to have an oil price drop. But there are countries that have managed it much better.”

FunkyMetahuman:
would you have asked if this happened in university of maiduguri or jalingo?

The next song will be they are maginilizing us

Ibos are every where.
Biafra or death.


Nonsense.

LoveDecay:
The east is dangerous and na them do runs/sorting pass. I dont think, there are universities in Nigeria like eastern one. Especially, IMSU, ESUT and ABSU (call them osu 3). Them students dont even know, states in this country and many cant spell, speak or write properly.

I almost fainted as Isselu-Ukwu NYSC camp, when one ultra fine babe' could not fill a form ... omo east na die oooh