₦airaland Forum

asumo12:
That awkward moment wen u visit your rich uncle
in abuja and d wife serves you 2 slice of bread
with egg... and d kids be like 'uncle can u finish
dis?' I b like 'se awon eleyi gbadun sha?'



Me wey
dey eat 11 wraps of fufu for IKOTUN

TonyeBarcanista:
Readers are Leaders

Acidosis:
I've been changing TV channels since 4 A.M, headline news remain the same everywhere:

"Africa's most populous country slides into recession


Nigeria in recession has economy shrinks

Nigeria’s economy has sunk into recession as the nation’s Gross Domestic Product (GDP) dropped to a record low of 2.06 per cent in the second quarter of 2016.

The recession is attributed to the persistently low oil price and disruptions in crude production as a result of attacks on oil facilities in the Niger Delta region.

Oil price has tumbled from more than $100 a barrel in 2014 to under $50 now while militancy in the Niger Delta has cut production from 2.4 million to 1.6 million barrels per day.

The nation’s GDP report for the second quarter released by the National Bureau of Statistics (NBS) yesterday showed that the GDP declined by -1.70 per cent points from the growth rate of –0.36 per cent recorded in the first quarter of 2016.

An analysis of the report showed that the 2.06 percent recorded in the second quarter of this year is also lower by 4.41 per cent points from the growth rate of 2.35 recorded in the corresponding quarter of 2015.
The NBS reported nominal GDP of N23.48 trillion at basic prices at the second quarter of 2016, up from N22.3 trillion recorded at the preceding quarter while real GDP was N16.1 trillion, also up from N15.9 trillion recorded at the first quarter of the year.

According to professor of Economics, and the Director General of the West African Institute for Financial and Economic Management in Lagos, Akpan Hogan Ekpo the quick way out of this type of recession is to inject money into the system.

He said the president has the option of borrowing locally or externally or pump the looted funds already recovered into the economy before the situation gets to depression.
Prof Ekpo, who is among the experts invited by the presidency recently to design the ways out said: “ The only way out is to reflate the economy by releasing money for both recurrent and capital projects and make necessary plan to help states pay the outstanding salaries of workers.”

He explained that this type of recession is too bad because the key sectors such as services and manufacturing are declining rapidly, therefore government must do all it can to provide the enabling environment such as fixing power and providing cheap loans to real sector.

He also urged the Central Bank of Nigeria to quickly adjust the Monetary Policy Rate otherwise known as the lending rate down ward for the manufacturers to access loans easier.

On the fiscal terms, Professor Ekpo said there should be no more increment of tax for the common man but government should tax the upper class by introducing luxury tax and discourage import of same products to conserve forex.

A lecturer at the Department of Economics of the Kaduna State University, Dr. Aminu Usman, said the latest report indicated that the economy has some structural deficiencies beyond the crash in the production and price of crude oil.

Dr. Usman told the Daily Trust that oil price crash should have aided Nigeria to adjust and redirect the economy on the path of growth but instead, the economy is further sliding into deeper crisis, indicating structural weaknesses requiring urgent measures to address beyond what the government is currently doing. On the skyrocketing inflation rate, Dr. Usman said the development is worrisome when looked at in conjunction with severe cash squeeze.

“Inflation has devalued people’s income and lives while unemployment and cash squeeze lowers purchasing power,” he said.

He explained that the closure of many companies has worsened the unemployment situation in the country.
Dr. Usman advised that that the government should come up with indigenous policies out of the ordinary to jump start the economy.

“One way to do that is to start paying local contractors and awarding new contracts for rural infrastructure in order to resuscitate rural economies to create market for farm products and manufactured goods. Paying foreign contractors only put pressure on for FX,” he said.
The Programme Coordinator of the Economic Governance of the Open Society Initiative for West Africa (OSIWA), Joseph Idahosa Amenaghawon, told Daily Trust that the GDP report had given credence to the fact that Nigeria is in recession.

“We are possibly bracing up for more delicate economic indicators that validate the recession we are faced with,” he said.

The Executive Director of the African Centre for Leadership, Strategy and Development, Dr. Otive Igbuzor, said the latest economic indicators confirmed that Nigeria was in recession and the economic downturn in the country was worsening.

“For me, there are two main things that have come out clearly from these reports. First is the confirmation that we are now in recession. Secondly, it shows that the economic situation is worsening with increasing inflation and increasing negative growth,” he said.
Igbuzor told Daily Trust that the economic situation of the country was worsening and it was not surprising as evidenced from daily experiences.

A further analysis of the report showed that the non-oil sector declined by 0.38 per cent in real terms in the Second Quarter of 2016, being 0.20 per cent points lower than the First Quarter of 2016 by -0.18percent, and 3.84 per cent points lower from the corresponding quarter in 2015 by 3.46 per cent.

In real terms, the non-oil sector contributed 91.74 per cent to the nation’s GDP, higher from the 89.71 per cent shares recorded in the first quarter of 2016.
Amenaghawon said the latest GDP report called for concern and action in the area of the proposed emergency economic powers the president may seek.
He said the National Assembly should look into and debate the emergency powers to fix the economy which the president was likely to seek in a bill.

“The proposed economic emergency powers, if it does see the light of day, may offer some quick turnaround options for the country,” he said.

Similarly, the NBS reported yesterday that the nation’s inflation rate rose to 17.1 per cent in July from 16.5 per cent recorded in June.

An analysis of the report showed that energy and energy-related prices, such as those of electricity, kerosene, solid fuels and lubricants for personal transport equipment continued to be the largest increases reflected in the core sub-index which increased in July by 16.9 per cent from the 16.2 per cent recorded in June.

The report also showed that the onset of the harvest season was yet to have a significant impact on food prices as the food sub-index increased by 15.8 per cent in July, 0.5 per cent points lower from rates recorded in June.

The NBS also reported yesterday that unemployment rate rose 19.9 per cent as recorded at the first quarter of this year to 20.5 per cent at the second quarter, bringing the total number of unemployed or underemployed persons in the country to 17.6 million as at the end of the second quarter of 2016.

Indicative of the worsening economy, the NBS also reported yesterday that the total value of capital imported into Nigeria in the second quarter of 2016 dropped by 75.73 per cent compared to the value recorded at the second quarter of 2015 to stand at $647.1 million.

Lalasticlala, Mynd44

NaYouGoTire:
America unlike lugardian contraption don't play politics of sentiments, they deal with facts. Who believed Trump will visit Mexican president yesterday? That's politics. Trump have captured Whites votes and is doing everything possible to capture blacks votes and once that is done? Is over for Hillary Clinton.

Abuja—The Federal Executive Council, FEC yesterday, approved external three-year rolling borrowing plan. According to Minister of Finance, Kemi Adeosun, the borrowing plan, which will be transmitted to the National Assembly for its approval, will be concessional loans with interest rates at 1.25 percent, with four to seven year moratorium, 20 years to pay.

The Minister disclosed that the borrowings would come from agencies such as the World Bank, African Development Bank, China EXIM Bank, and other development agencies like Japanese International Cooperation Agency (JICA) and Eurobonds.

The declaration followed on the heels of the submission by the National Bureau of Statistics that the economy was technically in a recession.

But at the end of the Federal Executive Council Meeting presided over by President Muhammadu Buhari, the Minister of Finance, Mrs. Kemi Adeosun, admitted that though it was the worst possible economic season for Nigeria, the government was not confused about what to do in order to salvage the situation in the interest of Nigerians.

Adeosun said, “It’s the worst possible time for us. Are we confused? Absolutely not. How are we going to get ourselves out of this recession? One, we must make sure that we diversify our economy.” She cited the case of the Ministry of Solid Minerals, which had already procured a World Bank loan of $150million to enable it to strengthen its capacity and generate revenue from the sector.

Education Minister, Adamu Adamu, on his part, revealed that FEC approved contracts for the construction International House for the University of Ibadan (UI), which is a post-graduate hall, at the cost of N1.302 billion with a completion period of 44 weeks.

Also approved was contract for the reconstruction of the University of Lagos (UNILAG.) new library at the cost of N1.935 billion.

IF the truth must be told, Nigeria today is on the edge of a precipice – with its economy hanging perilously on the balance. The situation is so precarious that President Muhammadu Buhari will be seeking Emergency Powers to tackle the economy as soon as the National Assembly resumes from its vacation on September 12, 2016.

We have travelled this route before. In April 1982, former President Shehu Shagari sought the same powers from the National Assembly, which culminated in the promulgation of the Economic Stabilization Act 1982.

This Act is still on record as the fastest piece of legislation that ever passed through the National Assembly: President Shagari presented the Economic Stabilization Bill to a joint session of the Senate and the House of Representatives at about 10 a.m. on April 18, 1982. At 3 p.m. the same day, both Chambers had passed it. Before 9 a.m. the following day, the Bill had been authenticated by the Clerk of the National Assembly and forwarded to President Shagari who accented to it, first thing on April 20, 1982.

Nigeria’s economy is in a recession. The objectives of the current action-plan include shoring up the value of the Naira; creating more jobs; boosting our foreign reserves; reviving the manufacturing sector; and improving energy supply.

Essentially, the proposed measure will be asking the National Assembly to give the Executive sweeping powers to set aside some extant laws and use executive powers to roll out an economic recovery package within the next one year. It is easy to see this as asking the National Assembly to surrender a bulk of its powers to the Executive. Some would see this as an anomaly, particularly against the backdrop that we are dealing with a full-time legislature that can be called upon whenever problems arise.

But given the slow pace at which the legislature works, it would be better for the Executive to hold the powers in its hands and apply them from time to time with the speed and precision desired. After all, extraordinary situations deserve extraordinary actions.

This is where it becomes necessary to look at the specific areas where the Buhari administration is asking for more powers. First, the administration seeks to shorten the procurement process, to support stimulus spending on critical sectors of the economy. At present, the procurement law does not allow contract award earlier than six months after project approval. There is the mandatory advertisement of the contract for six weeks. The administration considers this unacceptable, given our present circumstance.

The draft Bill seeks to abridge the process of sale and lease of government assets to generate revenue. Admittedly, the President has the power to order the sale or lease of any government assets but the process is extremely cumbersome. Government has ready assets that can easily generate more than $50 billion to shore up the nation’s foreign reserves and the value of the Naira.

The draft bill also seeks to amend the extant law to allow virement of budgetary allocations to projects that are urgent, without going back and forth to the National Assembly. It would be frustrating to watch funds lying idle in some expenditure heads when there are no funds to execute some urgent and pressing projects that can move us forward.

At present, some N58 billion is trapped in the coffers of the Universal Basic Educational Commission, UBEC. This is because many states are unable to access their money as a result of the key condition – the payment of 50 percent counterpart funding. The Buhari administration is seeking to amend the law so that states will pay only 10 percent as counterpart funding. The intention here is that states will be able to access cash for the development of education, which will in turn stimulate massive job creation as contracts will be awarded for the projects.

The administration also intends to embark on radical reforms in visa issuance at Nigeria’s consular offices and onarrival in the country to compel some agencies of government like Corporate Affairs Commission, CAC, the National Agency for Foods Administration and Control, NAFDAC, and others to improve on their turn around operation time for the benefit of business.

It is noteworthy that Nigeria is one of the few countries worldwide where the visa is very difficult to obtain. Someone has likened obtaining the Nigerian visa to the proverbial camel’s head passing through the needle’s hole. If we must progress, the time has come for the desired radical reforms to enable foreign investors come into the country without unnecessary bottlenecks. Here, government’s noble intensions are laudable – visas will be issued within 48 hours of application; and tourists to Nigeria can also pick up their visas at the entry point if they so desire.

Executing government contract has become an ordeal. By the provision of current extant laws, contractors do not get mobilised for more than 15 percent of the contract sum. The administration has observed that this paltry mobilisation hardly moves contractor to site; and in turn, this is largely responsible for the reckless abandonment of government contracts all over the place. Once contractors are barely able to move equipment to site, they will remain there stranded; and waiting endlessly for further payment.

The draft bill will seek to allow government to mobilise contractors to the tune of 50 percent of the contract sum.

Perhaps most importantly, for the power sector, government plans to truck gas from source to the power plants, to avert the activities of gas pipeline vandals and ensure that gas gets to where it is needed for power generation.

These plans look good on the surface. But in a country where there is more politicking and less governance, there must be in-built monitoring mechanisms to ensure that monies realised do not find their way to campaign slush funds.

And history beckons at the National Assembly – the record of the Economic Stabilization Act 1982, which went through the legislative maze within 24 hours, is waiting to be broken!

Lalasticlala, Mynd44

Angry protesters torched Gabon’s parliament Wednesday after President Ali Bongo was declared winner of what he claimed was a “peaceful and transparent” election, but which the opposition said was fraudulent.

It only took a few minutes for the announcement to sink in before several of Libreville’s poorer neighbourhoods erupted in anger, with thousands of people taking to the streets to express their fury.

According to official results made public shortly after 1500 GMT, Bongo won Saturday’s presidential poll by just 5,594 votes, taking 49.80 percent to 48.23 percent for his rival Jean Ping, a veteran diplomat and former top African Union official.

The results will remain “provisional” until they are approved by the constitutional court.
By nightfall, protesters vented their fury by setting fire to the parliament building, sending skyward a plume of flame and black smoke, witnesses and AFP correspondents said.
Fires were visible in other parts of Libreville and explosions were heard as protesters faced off against heavily armed security forces.

“The whole building is catching fire,” a man outside parliament who gave name as Yannick told AFP.
The parliament lies on the same road as the state TV headquarters, senate, town hall, oil ministry, several embassies and the French cultural centre.
As soon as Bongo’s victory in Saturday’s poll was announced Wednesday, people took to the streets of the city’s slums, chanting “Ali must go.”

– Slim margin –

As helicopters flew overhead and smoke rose above poorer neighbourhoods, soldiers, police and gendarmes stopped traffic on the main highway where protestors braved tear gas to set tyres alight.
Protestors shouted, “Jean Ping president!” and “They stole the election.”

Ping, a half Chinese career diplomat has rejected the results, and before they were announced had declared it was he who won.

There was also trouble Wednesday in the economic capital Port Gentil, which saw the worst of the violence that followed Bongo’s 2009 election victory.
That contested vote followed the death of Bongo’s father, Omar Bongo, who ruled the oil-rich country for 41 years.
Any appeal by Ping would likely focus on disputed results in one of the country’s nine provinces — the Haut-Ogooue, the heartland of Bongo’s Teke ethnic group.

In Saturday’s vote, turnout was 59.46 percent nationwide but soared to 99.93 percent in Haut-Ogooue, where Bongo won 95.5 percent of votes.
“It’s going to be difficult to get people to accept these results,” one member of the electoral commission confided to AFP, asking not to be named because of the sensitivity of the subject.

“We’ve never seen results like these, even during the father’s time,” he added.
Opposition delegates in the electoral commission have vowed to fight for a recount.

– ‘Let’s change together’ –

Ping, the European Union and former colonial power France have called for voting figures from each of Gabon’s polling stations to be made public to ensure the credibility of overall result.

In 2009, Bongo was declared winner of the election after his father’s death. In the ensuing clashes several people were killed, buildings looted and the French consulate in the economic capital Port Gentil torched.

EU observers, who were barred from the meeting of the electoral commission on Wednesday, said the vote on Saturday was “managed in a way that lacked transparency”.

Joining the EU in pressuring Bongo on Wednesday, the French foreign ministry called for the electoral commission to show “transparency and impartiality”.
“Only in this way can the credibility of the results be guaranteed,” a spokesman for the French foreign ministry on Wednesday.

Gabon is a former French colony which has been hit by the global slump in the price of crude oil, its biggest export.

One third of Gabon’s population lives in poverty, despite the country boasting one of Africa’s highest per capita incomes at $8,300 (7,400 euros) thanks to pumping 200,000 barrels of oil a day.

Bongo, 57, campaigned under the slogan “Let’s change together,” playing up the roads and hospitals built during his first term and stressing the need to break with the bad old days of disappearing public funds and dodgy management of oil revenues.

The campaign period was marked by months of bitter exchanges between the two camps, including accusations, and strenuous denials, that Bongo was born in Nigeria and therefore ineligible to run.

Ping’s own roots — he is Sino-Gabonese — served as ammunition for Bongo’s camp, which has suggested he and his son are secretly serving Chinese interests.

Lalasticlala, Mynd44

haywire1:
Another South south criminal down, more to go..

South south nd crime are like bread and butter, most of the youths lack proper parental training.



Sai Baba no dey chop anyhow, Aisha bed styles fresh for baba


#

higherpower:
Are u scared of them? Are they more Nigerians than u?

HungerBAD:
To the OP.

You have a lot of points here.

But why are there too much runs girls in PH? Port Harcourt is one of the few places I have visited in my life where they have absolutely no respect for ladies there.

And the reason is,3 out of every 5 PH girl is into runs,and so very difficult even knowing who is not into it,and all get disrespected anyway.

PH girls and runs are like (somebody put that President Zuma picture pls) twins.

sarrki:
I SWEAR DEM NO DEY TELL MAN SAY RAIN DEY FALL.

Operations Crocodile No be play

Lagos State Governor, Mr. Akinwunmi Ambode on Monday commissioned the newly rehabilitated fuel dump for the State Police Command, just as he reiterated his unwavering commitment to keep Lagos safe, secured and uncomfortable for criminal elements and their collaborators.

The facility, which has 33,000 litres capacity for both diesel and premium motor spirit (petrol), was rehabilitated by the State Government for the purpose of dispensing fuel to vehicles used for patrol and surveillance activities by the Police in the state.

Speaking at the commissioning, Governor Ambode, who was represented by the Commissioner for Special Duties and Inter-Governmental Relations, Mr. Oluseye Oladejo, said provision of the facility was in line with his administration’s determination to further enhance security of lives and property in the State.

He said: “Since our inauguration, we have left nobody in doubt about our commitment to keep our State safe and secured. We have demonstrated commitment to this course through massive investment and the provision of modern security equipment to strengthen the crime fighting capacity of security agencies, especially the State Police Command.

“Till date, we have empowered security agencies with 100 Saloon Cars, 195 Ford Ranger Pick Ups, 10 Toyota Land Cruiser Hilux and several others.

“These were provided with the main objective of facilitating mobility of officers within the nooks and crannies of the State.

“With this dedicated facility, the State Government has once again made a clear statement of its determination to make Lagos uncomfortable for criminals and their collaborators,” he said.

The Governor said he was not oblivious of the fact that the major requirement for efficient running of vehicles is regular fuel supply and maintenance, adding that such necessitated the approval he gave for the revamping of the old and dilapidated fuel dump at the State Police Command.

While expressing delight at the completion of the rehabilitation and handing over to the police, Governor Ambode urged the State Command to ensure adequate monitoring, as well as usage of the fuel only for the purpose intended.

Besides, Governor Ambode assured the State’s Commissioner of Police, Mr. Fatai Owoseni of the readiness of the State Government to sufficiently service the facility for a 24/7 mobility of security vehicles.

Earlier, Owoseni thanked Governor Ambode for once again demonstrating that he is a worthy partner, adding that the commissioning and handing over of the facility was a milestone to the Police.

“The State Government has been at the forefront of supporting us both in terms of equipment and logistics. On behalf of the Inspector General of Police, I want to specially thank Governor Ambode and the State Government for supporting us in fueling the vehicles provided for us.

“We want to assure the good people of Lagos that we recognise that to whom much is given, much is expected. We will reciprocate this kind gesture by redoubling our efforts in other to make Lagos safer and more secured,” Owoseni assured.

Lalasticlala, Mynd44

advocatebaba:
ITS HAPPENED VERY CLOSE 2MY HOUSE, D CJTF WERE SO FIERCE ND ANGERED BY D GRUESOME KILLING OF THEIR LEADER, A SUSPECTED ASSAILANT'S FAMILY HOUSE WAS SET ON FIRE, A BUS BELONGING 2HIS FATHER WAS SET ABLAZE . AL MANNERS OF LOCALIZED WEAPON OF MASS DESTRUCTION WER IN FULL DISPLAY YSTERDAY MORNING AROUND 6:00AM BY D JTF. IT IS WORTHY OF NOTE DAT D ACTIVITIES OF D CJTF HAS REDUCED D CRIMINAL ACT OF D HOODLUMS IN KAKURI TO A MINIMAL LEVEL... D CTJF R SO ANGERED BY D SUDDEN ASSASINATION OF DIER LEADER ND ANY SIGHT OF SUSPECTIN PERPETRATOR OF D ACT WIL B GIVIN A JUNGLE JUSTICE.

vislabraye:
In other words, kidnappers in Niger Delta are not indigenes.

ihatemods:
awon vaseline crew

Commander of the Civilian Joint Task Force in Kaduna state , Buhari Ahmadu killed by unknown gunmen.
Buhari Ahmadu Tanko the Commander of Civilian Joint Task Force (JTF) in charge of Kakuri community, Kaduna South Local Government Area of Kaduna state, has been murdered.

The Nation reports that Tanko was reportedly killed by some yet to be identified assailants.

The Kaduna state police command spokesperson, ASP Aliyu Usman confirmed the incident

He said, the late Tanko, 27 was murdered by hoodlums while attempting to stop them from stealing from the premises of defunct Kaduna Textile Limited located in his catchment area.

ASP Usman said the incident occurred at about 3:26 hours of Monday 29th August 2016, making it difficult for the police to make immediate arrest of any suspect in connection with the killing.

He however said investigation into the matter has already been launched and the culprits will soon be fished out to face the full wrath of the law.

Effort to speak with family of the deceased could not be established as the time of filing this report.

But member of JTF in Kakuri, who would not want his name in print vowed, never to be deterred by the gruesome murder of their leader in their efforts to make the community safer, urging the state government to train and equip them instead of attempting to scrap the activities of local vigilante in the State as we read in the media.

“We know the community better because we leave here. The government can train us continually so we discharge our responsibility better. What happened cannot stop us from patrolling our area especially at night. And we will bring the killers of Buhari to justice no matter how long it will take us,” he said.

Governor Rochas Okorocha of Imo State has insisted that the three-day working policy crafted by the state government for civil servants in the state stands.

The confirmation came barely few days after the Nigeria Labour Congress in the state protested against the policy and other ills by the state government.

He also said that the cutting of the working days to three from five would have no interference with the workers’ salaries and allowances.

“I will not cut workers’ salaries because of the two days,“ he said.

Okorocha, while briefing journalists on Monday in Owerri after his overseas trip, stated that workers would go to work between Mondays and Wednesdays, leaving Thursdays and Fridays for agricultural activities.

He, however, noted that any worker that would not come to his or her duty post for any reason must get a written document (permission) from either the Head of Service or Chief of Staff (in the Government House) of the state.

Okorocha said, “Any worker, who is not found in his/her duty post without permission or exemption letter from the Head of Service or his counterpart will immediately lose his/her position to another person from his or her community.”

The governor added that the civil servants working days were cut because they (workers) did not make judicious use of their official hours.

“Instead of being devoted to the work they are paid for, they use their official hours to loiter about; they sell groundnut, gala, chin-chin and sieve egusi, among others, in the office. I decided to reduce the working days because I want to enhance agriculture in the state.”

There is nothing that is cultivated or produced in the state. All the things we eat like tomato, pepper, cucumber, groundnut and others things are produced in the North. Think of a situation where the northerners decide to stop supplying us with these edibles, what happens?”

In strong terms, he maintained that the state government had paid all salaries of workers in the state, up to August, 2016. On the part of pensioners, he promised that they would soon receive all arrears of their pension.

Okorocha said that over 3000 fresh computer literate graduates would soon be employed in the civil service to develop the economy.

He regretted that over 95 per cent of Imo State workers were not computer literate and attributed their low productivity to it.

Meanwhile, Okorocha had said that he was hale and hearty and told Imo citizens and Nigerians to dismiss the rumour and postings on the Facebook /Internet that he was dead.

He said, “The rumour only came from my political opponents. They wished me dead, but God Almighty has put them to shame. They even went further to dispel rumours that goddess of Nworie and Otamiri River slapped me. I am alive and bouncing in the Lord. I only travelled for economic mission and to visit my daughter, who has given me another grandson.”