₦airaland Forum

samparian:
This shows you didnt invest in shares and clearly you failed economics and mathematics in school

Thank you sir Mr Mathematics and Economist - I passed the two subjects - but i dont have shares so maybe my knowledge is limited / Naija Shares get K leg.

Nonsense ranting has started here ,

Anybody here ever tried stop what has failed to move for the past two years?

*Says Nigeria Loses 900,000 Barrels Daily In N'Delta

By Rotimi Akinwumi, Correspondent, Abuja

Total deregulation of the oil sector is inevitable and no amount of opposition would prevent President Umaru Yar'Adua from carrying it out.

That was the pitch of Minister of Petroleum, Rilwanu Lukman, on Tuesday when he spoke as a guest at a Peoples Democratic Party (PDP) session with Ministers in Abuja.

He also admitted that the Niger Delta crisis costs the country an average 900,000 barrels per day (bpd).

Daily Independent had reported exclusively on Tuesday that Aso Rock is in low spirits with skyrocketing crude prices, which on Monday jumped over $64 per barrel (pb) on the global market.

The report quoted a source in the Villa who alerted that Nigerians may "very, very soon wake up to a full fledged deregulation of petrol and outright removal of subsidy as efforts are in top gear for this."

Lukman said the National Assembly (NASS), the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have all agreed to full deregulation.

He noted that the only problem is the opposition of the Nigeria Labour Congress (NLC), but "this is being discussed very extensively at various fora and a decision is being arrived at."

Donald Payne, Chairman of the Africa and Global Health Committee of the United States House of Representatives, had last weekend claimed that Nigeria loses 20 per cent of its daily oil production to bunkering, carried on with the connivance of Aso Rock.

Lukman on Tuesday acknowledged that the oil industry is under the siege of bunkering, and pipeline vandalisation, leading to a loss of 900,000 bpd.

He said output, which was 2.3 million barrels per day (mbpd), has since reduced to 1.4 mbpd.

"Our target is to have 40 billion barrels in our reserves by 2010; presently we have 37 billion barrels. The target for next year's production is four mbpd."

He insisted that the removal of subsidy is inevitable because it costs so much such that little resources are left for projects like health, education, and roads.

The amount is more than total capital budget, he added, something untenable, and unacceptable.

"We have virtually reached that point and the ministry has now finalised the approach, which will be in the next few months, when we get ready to effect this for the benefit of our economy and, more importantly, for the benefit of our teeming population.

"Petroleum products are not available in the quantum we need to satisfy demand. What is happening is that there are certain groups of people who corner the market. Because other people will not do it, the price is such that people are not able to import freely.

"When we liberalise the market, free the market by deregulation, it will be possible for people to bring in petroleum products freely. When they do so, there will be enough."

There may be surge in the price at the beginning, Lukman warned, a little bit more, but when the market is free and products flow freely, "the price will tend to moderate and will certainly go down. This is what we intend to achieve.

"We have given license to 18 companies to build refineries but nobody has built because the market environment is such that nobody will bring in large sums of money and build refineries, pay the Federation Account - as the NNPC (Nigerian National Petroleum Corporation) is doing at international price for crude - sell the product in a market that is regulated, and then unable to recover even their investment."

Lukman enthused that with deregulation, more people will build refineries, more refined products will be available and, ultimately, the beneficiary is the ordinary man in the street, as products will be available at fair prices.

"We have extensively consulted with the unions. Fortunately, the NUPENG and PENGASSAN and, of course, the TUC (Trade Union Congress) are positive with the discussions.

"We still have a bit of a challenge with the NLC, but we believe when they see the facts and realise what is happening, they will come on board. They are already more or less on board.

"So, the unions are fully in the picture, and they have supported this 100 per cent. Equally of importance is that we have got the National Assembly to support it. We went to the Senate and the House and explained to them what is happening and they all came out in support of it.

"As elected representatives of the people, we were talking to them as if we were talking to the ordinary people, because they represent their constituents, and then they understood why this has to be done."

Lukman said the government will be realistic and introduce the reform over a period of time to minimise the impact.

He promised that savings from subsidy withdrawal will go into the coffers of federal and state governments to finance projects essential for the benefit of the people.

"If this money is not available, it means that the projects to be executed will be attenuated to the extent that we don't have the money. Having the extra money in your pocket means you can do something."

Lukman confirmed that the damage in Atlas Cove in Lagos has been repaired, and security there has been beefed up.

http://www.independentngonline.com/news/tfpg/article01

Just divide the bloody country.

Twelve members of the National Assembly Constitution Review Committee on Tuesday urged the Assembly to create new states or forget about the entire review exercise.

Assembled under the aegis of Forum of the National Assembly for the Actualisation of State Creation, with membership drawn from the Senate and the House of Representatives, the lawmakers reiterated that the task of demanding for state creation was given to them by their constituents back home.

The new states, which must be given priority in the constitution amendment, they insisted, must be created before the 2011 general elections in the country.

Chairman of Senate Committee on Information and Media Affairs, Ayogu Eze, presented the group's demands to newsmen on Tuesday.

Eleven other members of the group accompanied Eze to the press conference.

They include Interior Affairs Chairman, Lekan Mustapha (PDP, Ogun), Chairman of Senate Committee on Federal Character and Inter-Governmental Affairs, Smart Adeyemi, Adego Efrekaya and Sulemian Nazif as well as members from the House of Representatives.

"We met this morning and we have taken some very far-reaching decisions. Some have left for different assignments. This place was full. And all of us agreed on one thing; that there can be no constitution amendment in Nigeria without state creation.

"All of us have been sent here by our people. And our people have asked us to be part of the constitution amendment if they are creating states.

"We believe that state creation is very possible and highly realisable within a civilian dispensation.

"We are going to dialogue among ourselves and put structures in place to make sure that we bring this about before the next election," Eze said.

He added: "These states that will be created will take part in the next election. We are going to continue this dialogue. We are going to continue to meet and in the course of the meeting we will carry you along as we continue to push this agenda".

http://www.independentngonline.com/news/head/article01

presido1:
Are u becomerich?

Ikey is becomrich twin

koni koni people

u r in the wrong section - please move to the romance or meetup section.

and also i know a few lonely Yoruba men here in the U.k maybe i can help -  are u in new zealand?

definately need a man in your life - r u married if not visit www.match.com

descend now and show your true color - u definately made a name for yourself on NL

[quote author=tpia. link=topic=299409.msg4226517#msg4226517 date=1248206132]I still dey here waiting for those who are in charge of chasing me off nairaland.

So post and dont be shy.[/quote]seriously

When we go hook up

[quote author=tpia. link=topic=299409.msg4226458#msg4226458 date=1248205427]I dey jobless oh- you people should show up nah.


sebi una chop eba and cocoyam before logging on today?

make we dance oh.[/quote]Whatever u ate surpass wetin those people chop.

^^^ U get strength and time

spikedcylinder:
Owning a Jet is one thing, maintaining it is another. . . . .

Dont worry about that one / The God that provided for plane will provide for service money

see how these have derailed the thread.   fighting with people u will never see

[quote author=tpia. link=topic=299409.msg4225087#msg4225087 date=1248192810]na so so deny them go dey deny.


The American dream- success typified by the picture of a house with a picket fence

The Nigerian dream- success typified by having multiple women at your beck and call.


Do I lie? [/quote]Yes u Lie

You should know better not the stereotype.

Becomrich:
if you were in redeemed church more than 15 years ago. you may remember Kunle Olowojure he was in freedom hall.


https://www.kunle.org/images/family.jpg

Are u saying this a sham marriage.

hard earned money washing toilet and cleaning train stations - Only God know how many hours of work be that

let do some calculation


Illegal immigrant working at train station maybe earning £7.00 per hour after all deductions maybe u get £5.20 per hour

so £15,000 / 5.20


= 2885 Hours of Work

[quote author=tpia. link=topic=299409.msg4224789#msg4224789 date=1248190602]the OP doesnt mean jumbo jet. He's referring to anything that can fly. In Nigeria, there's no distinction.

So yes, a doctor or accountant can buy a private jet if they're rich enough and have that kind of exposure.

However, in a country where the ultimate Nigerian dream is amass as many women as possible, a lot of the rich people there have the same goals as illiterates, I'm sorry to say.[/quote]Thread De rail - u need healing

back2back:
Yes you can!

A fairly use Cessna is cheap.

This one is for $60,000.

lol

bush person dont know the difference btw a jet and light aircraft.

It is called survival of the fittest - when their is nothing back home - it is sad but to be expected.

nobody is going anywhere until oil finishes

so what about the 250 Million Dollars paid upfront.

Wait

Maybe she has a point  -

You have a share at  X amount  it then drops to Y amount due to the recession. As an investor u only actually lose money when u at sell or redeem your share at Y amount.

We hope so - but i doubt it the oil bunkering business is very lucrative.

ha ha

Afaukwu:
Blacksta

It is a matter of fulfilling the federal character thing and I am happy about that. What is good for Yoruba/hausa-Fulani is good for Igbo. When Tafa and Ehindero where there, crime did not reduce in Yorubaland as well.

So why the hell are u celebrating a failed individual? but u say federal character. I would prefer a more suitable person irrespective of where they come from someone who who will do the job better.

Poster u don mental


What is point of having a igbo IG and the people dont benefit from it . Igbo IG is not going to reduce crime, stop extortion and police brutality in Igbo land.

It is not everything u read one has to believe espcially coming from Shara reporters. First fact that paper is very anti yar adua and the second point if i am yar adua cousin i would not need to smuggle goods into Nigeria and i will simply tell my cousin Yar adua to make me untouchable like Dangote.

davidylan:
Do Kosovans even know that Yar Adua exists? 

lol

i doubt it-  U wonder who advises this clown called Yar adua -  The EU is strong backer of the Country of Kosovo and nothing is going change that as long as the EU remain a strong force  - The only people shouting about the status of the country of kosovo are the Non EU members Russia and its sympathizers

[quote author=Black_Revo link=topic=298949.msg4219541#msg4219541 date=1248112105]Please my sister no kill me with laughter ooooo, i one die for here

well you can go to ghana

I was made to understand that we have already sold our gas supply for export for the next 25 years

The only country in the world that has crude oil and gas reserves yet imports all kinds of crude oil end products and now gas

Please my sister that said who cares where the gas comes from as far as there is electricity, lets not think this way and forget about the effective use of our resources oooooo,[/quote]But successive government have failed to use home resources to their advantage. Since Nigeria is a master Import " Make we carry go" If u have to import get electric - fire at full speed ahead.

kokoA:
who is this idiot?

Special Advisor to Yar Clueless on National Assembly matters. Another glorified post creating no value to the masses.