Politics › Re: Nigerian Army Is Not The Same As The Chadian Army by BlackTechnology: 8:27pm On Dec 07, 2014 |
Underestimate Nigeria at you own peril
Once Nigerians are serious about something even US will shake.
If you doubt me ask Ebola
For now we see BH as a Northern Muslim armed group that's one reason the military is dragging its foot |
Politics › Re: Economic Standing Of The Igbo Populated States by BlackTechnology: 8:14pm On Dec 07, 2014 |
Ikengawo: With these figures before us I hope that the Anambra team can stop terrorizing us with the false economic 'superiority'. The state states in the SE or Imo and Abia (which were also the last to fall in the civil war, and the start states in Igbo land are Rivers and Delta given their oil and the initial investments Mike Okpara made in Rivers early on.
oneeast cjrane abagworo Don't spoil this wonderful thread with state war. |
Politics › Re: Economic Standing Of The Igbo Populated States by BlackTechnology: 8:12pm On Dec 07, 2014 |
Good
I would be glad if CBN governor can reduce interest rate for small and medium scale registered agricultural and industrial businesses to encourage expansion
This action if taken will see SE agricultural and industrial businesses booming now that price of foreign goods will increase.
I will also be happy to see CBN allow 10 most healthy banks control 10% of our foreign reserve each handling 1% to help make available low interest loans in order to encourage creation of new businesses and expansion of old businesses.
This economic climate is our opportunity to seize a sizable portion of Nigerian market through our technological and financial creativity. |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 7:54pm On Dec 07, 2014 |
kolaaderin: This is clear clueless coupled with voodoo economy. The FG already budgeted an amount for subsidy which remain constant and in the face of crash in price the masses u claimed to be serving should have the relieve effect not the government. There has never been any fresh air it's always a toxic breeze from the government. They are messing up the budget right now. GEJ wants to stop budgeting for it. Olodo Reinvest that subsidy money into agriculture and industries to create wealth and jobs |
Politics › Re: Court Stops Obasanjo From Publishing Autobiography by BlackTechnology: 7:50pm On Dec 07, 2014 |
amolex: I don't kwn where u come from but I kwn one thing for sure u are a bastard for insulting YORUBA land As long as your youths praise thieves like obj , mud houses wouldn't disappear from the SW Its not an insult but fact of life |
Politics › Re: Seized Aircraft + Weapons In Kano Are For French Forces In Chad, Says Russians by BlackTechnology: 5:15pm On Dec 07, 2014 |
Some blank heads wan turn Nija to war zone  |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 5:08pm On Dec 07, 2014 |
Abagworo: There has never been subsidy. It is simply a scam used in stealing. We do not consume as much fuel as claimed by FG. Let a new government enter and all this truth will be revealed.
Why cant the refineries be built in Nigeria and subsidy payed in Naira to indegenous owners?  which primary and secondary school did you attend |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 5:04pm On Dec 07, 2014 |
atlwireles: Calling yourself pro GEJ has nothing to do with your previous comment. How you went from petrol subsidies to Yoruba Nation, is very confusing to me. Barcanistan and obiagellli who are both pretensions yorubas kept arguing blinding Today they accuse GEJ of being wasteful and when he follows their pattern they call him clueless Haba At least a naughty boy who behaves well is praised. Even a fool who acts wisely is honoured. |
Politics › Re: The Untold Tales Of Gen. Buhari… [a Must Read]” by BlackTechnology: 5:00pm On Dec 07, 2014 |
Buhari put Alex (VP) in prison and placed Shagari under house arrest Can you explain why.?  |
Politics › Re: Special Report: Salary Of Nigerian Senators by BlackTechnology: 4:55pm On Dec 07, 2014 |
Tomorrow someone will call tambuwal a defender of democracy.  My hero Soyinka must see this |
Politics › Re: GEJ Is a Failure- Willie Obiano by BlackTechnology: 4:47pm On Dec 07, 2014 |
gratieao: Truth is bitter but it must be told! GEJ is a big time failure! We are only supporting him because we lack option. Like the poster said Onitsha port is a charade, Second Niger bridge remained a pipe dream, all federal road in south east is in its worst situation. Let us not pretend, the Otueke man have failed Nigeria. APC are not better though gratieao: Don't say what u don't know. I support GEJ against people like Atiku, Buhari, Tinubu etc who have proven to be worst than GEJ. I will vote GEJ if APC present Atiku, Buhari or any Hausa candidate, that born to rule mentality must be kill once and for all in this country. The worst GEJ is better than the best Buhari Born To Rule mentality must die. |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 4:39pm On Dec 07, 2014 |
revolt: in as much as I'd love to indulge in this bigotry, ill advice u sheath swords for now till the right time comes. We all know who and how the economy was destroyed. atlwireles: What has this go to do with Yoruba Nation? Is Yoruba Nation the only nation in Nigeria? geee Ok It's just that am annoyed seeing an educated people belittling their exposure just because they want federal power at all cost It sucks when people who attended university can't separate politics from economy I am a pro-GEJ but if his economic policy is bad, I will criticize it. But for people to defend a faulty view just because it was echoed by their hero shows absolute ....... |
Politics › Re: An Igbo LETTER To All The Yourbas And Hausa (muslims Who Want GEJ To Go In 2015. by BlackTechnology: 4:30pm On Dec 07, 2014 |
gratieao: Yoruba Incompetency destroyed Nigeria. Nigerian’s problem is not bribery, not corruption not even greed rather our fundamental problem is incompetence.
Definition Competent corrupt societies are societies that have the in-built mechanisms to self-correct and self-adjust because the fundamental foundation of those societies are situated on COMPETENCE
Incompetent corrupt societies are societies that do not have the in-built mechanisms to self-correct and self-adjust because the fundamental foundation of those societies are situated on INCOMPETENCE
Enter Yoruba Incompetence: The presence of the Yoruba in this whole cesspool will once and for all prove my point that incompetence of the crippling order is responsible for Nigerian malaise rather than Bribery, corruption or greed.
It is easy to make the argument that the reason why the north was incompetent was because they were not well educated, that majority of them had only high school education, that they were naive young men and ill-informed.
Only when you discover that the northern leaders understood their shortcoming and literally handed over the running of the government to the Yoruba to handle the day to day operation of the government and the Yoruba could not do any better than the Hausa.
I will like to state without fear of contradiction that Yoruba has well educated people in every field of endeavor-engineering, law, economics, name it, they have people there but that is where the credit ends.
The understanding was that the educated Yoruba was going to help the ill-prepared north to administer the affairs of the country by complementing the north that was mainly in the military.
In order words, the Yoruba supposed to take care of the administration, economy, the technological innovation and development of the country into the 21st century.
What Yoruba proved unequivocally, at least we have more than forty years of history to support it, is that acquiring education to PH.D level does not automatically make you a competent person.
One cannot question the educational achievement of the Yoruba because they are one of the most educated groups in Nigeria. The question that Yoruba has to answer is what went wrong?
What did they do with their education when it came to managing Nigeria?
The Yoruba had the education, the engineers, the architects, the lawyer, economists, technologists, the numerical numbers, the ministers, directors, the medical doctors, the high positions, the unrestricted authority, the power, you know what?
The Yoruba had cart Blanche. They even had total control of the communication media.
As established above the Hausa needed the Yoruba given the fact that they got into power ill-prepared, they hoped that the Yoruba will use their education and intelligence to help navigate the ship of the country.
As history has shown, the Yoruba dropped the ball big time and are still dropping it as we speak.
Most Hausa that are in the know will tell you that it is true that Yoruba are well educated but that they are as incompetent as the north is. What called the competence of the Yoruba into question was that from the day Yoruba occupied the center stage in piloting the affairs of the country, the country did not progress an inch from where Yoruba met it rather the country regressed and lost everything that Yoruba touched or managed.
Yoruba simply ravaged, pillaged and looted every government ministry, department, agency, business, cooperation, you name it.
Gowon’s administration was considered corrupt because of the wanton, unmitigated, unrestrained looting and corruption of the Yoruba that was recruited to help run the country. It is a known fact that Yoruba thought the north how to be corrupt.
Monkey see and monkey do. After watching the Yoruba pillage and loot, the north figured that that is normal and that that is how educated people behave and they joined the bandwagon.
So you have now two tribes with the biggest population that see the looting and destruction of everything they touch as business as usual and Nigerians are wondering what is wrong with the country, why is the country so corrupt. The country is corrupt because Hausa and Yoruba are incompetent to manage the affairs of the country.
The consequences of the North’s incompetence was critical because if the north were competent, they could have taken care of the country by themselves or alternatively checkmated the Yoruba once they starting looting, but because the north did not know any better they simply joined.
The way it happened was that as the north was siphoning and looting directly from the federal treasury to themselves, the Yoruba were busy sucking the life out of all the MDAs and the businesses and cooperations from the fallout of indigenization.
Interestingly enough Hausa did not bother Yoruba and Yoruba did not bother Hausa, each party was busy minding their business to the detriment of the whole country. Exactly the symptom of incompetence, you see, incompetence does not ask questions or get inquisitive because it does not know what to be inquisitive about and even when it asks a question and gets an answer; it does not know what to do with. This explains the widespread of bribery and corruption when you have Yoruba and Hausa neck deep into it.
Another case of incompetence displayed by north was when the Yoruba proposed for the indigenization of foreign companies. It is my belief that none of the northern military leaders had ever heard that word INDIGENIZATION before or understood what it meant.
In the first instance, the presence of the northerners incooperated Nigeria was minimal to none, so the north had no comprehension of the ramification of such policies, another evidence of incompetence rather than corruption from the onset.
If the north was competent and understood the implications of such policies, they could have objected on many grounds, unfortunately they did not know any better to checkmate the looting Yoruba rascals.
Having demonstrated that the Yoruba failed to lead notwithstanding their education, the question is what is the difference between the leaders of countries like South Korea, Brazil and India that succeeded in the face of challenges and the Yoruba leaders that failed?
The fact that Yoruba cannot claim lack of education, they cannot claim lack of opportunity and they cannot claim that they lacked the unrestrained authority to act, the only thing that the other leaders have that the Yoruba lacked is competence.
The way it works is that the absence of competent creates a vacuum hat is quickly filled by the ills of societies like bribery, corruption, greed, crime, murder and so on and so on.
To further drive the point home, can anyone recall one single Yoruba official that has done something so noble and honorable to improve the lot of the whole nation rather pursuing self-interest that Nigerians could look back and sing his praise?
The answer is no, but I will like someone to proof me wrong. That is a proof of incompetence first before corruption.
As a matter of fact you can trace the origin of all the millionaires from Yoruba and Hausa to one corruption or the other or government contract.
Fighting corruption in Nigeria is like fighting Hausa and Yoruba and I think that that is a daunting task.
The simple fact that after Yoruba took total control of Nigerian economy and they could not improve the socio-economics and technological development is a sign of nothing but incompetence. The injection of competence in Nigerian system will see a gradual improvement in accountability and progress. Typical example is that Hausa and Yoruba have gone in and out of ministerial positions for decades without anything to show for it and that is why no one can remember their names or what they did but when you mention the name of people that have demonstrated competence, people remember them and what they accomplished, people like Charles Soludo, ObiageliEzekwesili, Ngozi Okonjo-Iweala, Dora Akunyili and Dr. Bert Nnaji to mention afew. Notice that these folks did not have unrestrained authority, they did not have cart blanche but were able to make a different despite the challenges just like the leaders in South Korea, Brazil and India. What do they have in common? Competence. I could go on and on but I believe that the point has been made that the problem ailing the country is not bribery, corruption or greed rather that our fundamental problem is incompetence and that only competent people can tame the pillaging and looting going on now and most importantly that Yoruba and Hausa must join the builders rather than looters of the system.
Enter the Hausa Incompetence: Contrast the success of competent corrupt societies with the failure of incompetent corrupt societies like Nigeria. I defined earlier an incompetent corrupt society as a society that lacks the inert mechanism to self-correct and self-adjust for the betterment of its society or a house without a grown up.
Since after the war Nigeria has been living the life of an incompetent corrupt society that lacks the necessary capacity, ability and skills to self-correct in order to carry out a task of improving the lot of Nigerian.
It is important to note that after the war the north held sway, they had total and absolute control, they had total freedom, they had no opposition because the opposition had been decimated.
Igbo was leaking its wounds.
The north had the freedom to take the country in any direction they chose without opposition, to make Nigeria in its own image, if you think about it, they sure made Nigeria in their image, squalor, illiteracy, ignorance, crime, death, murder, hopelessness, stagnation, disillusionment, indiscipline, disaster, unfulfilled dreams, indifference, neglect, over-night millionaires and billionaires, disappointments, bribery, corruption and greed became the new normal, the question is what happened?
What happened was that the British helped to institutionalized Kakistocracy and incompetence prevailed over competence and became the order of the day if you ask me?
As we will see, the north exhibited incompetence of the highest order with its attendant corruption and blight without the necessary mechanism to self-correct and self-adjust. Even before the north got power, they knew that they were ill prepared for the responsibilities, when they got the power, they had no clue what to do with, they did not know what military and political power were used for, they became confused, they became a sitting duck, they became rudderless, even when they were advised, they could not use the advise because they did not have the requisite ability and skills to judge the advise right or wrong.
When they delegated responsibility they lacked the ability to evaluate what the result should be, for that reason it was difficult for them to request for any feedback when they had no clue what the feedback is supposed to look like.
If they cannot tell difference between what they are looking for, how can they check mate bad behaviors from good?
This is incompetence not corruption. Before the northern military took power, literally, everything in the system was working, education, health, water supply, electricity, road infrastructure, Nigerian railway, ports authority, national shipping line, the business and commerce industry were all thriving. It is pertinent to note that the north did not meet the systems in their primitive stage, they had systems that were working, as a matter of fact Nigeria experienced incredible economic expansion immediately after the war in part because the Igbo land was militarized and unbeknownst to the leadership the army spent majority of their salaries in Igboland which managed to keep the Igbo economy afloat and plus other foreign investment into the country.
When the demands of leadership came knocking on the door of the northern leadership, what answered and opened the door was abject incompetence, absolute intellectual vacuity, visionlessness and hopelessness.
The leadership was found to be inadequate, unsuited, devoid of those qualities requisite for effective conduct or action and not possessing the necessary ability and skills to carry out the tasks of leadership. What was most disturbing was that the northern leadership knew it, the British masters knew it, the Igbo knew it, the Yoruba knew it, the world knew it and the British went ahead anyway to convince the north that they can lead the country even over the objection of the northern leadership that they cannot.
The manifest absence of vision, objectives, direction, hope and the cluelessness of the northern leadership created a vacuum that laid the foundation and fertile ground for unbridled bribery and corruption to breed, fester and multiply. This is incompetence not corruption.
The absence of competence is our problem. When the northern leadership was found vacuous, opportunist and schemers filled the vacuum they found with their whims and caprice and the north could not self-correct or correct others because they did not possess the requisite elements of competence.
This is incompetence not corruption, though corruption later filled that vacuum that was created but it did not come first, it came second after it discovered that competence was not home.
In order words the north being in charge is like having no grown up in the house and the rascals came in and ransacked the house. What is most heart breaking is the fact that the northern incompetence knew no bounds, the least that could have been expected from the northern leadership was taking care of northern citizens, favoring them and raising their standard of living relative to the rest of the country but that did not happen. The fact that they could not do it is incompetence not corruption.
The northern leadership could not improve the education and literacy, health -infant mortality, water, road infrastructure, economics and the overall wellbeing of the northern citizens.
The question is whether the failure of the northern leadership to improve the lot of the northerners was deliberate?
The answer is no but more of the manifestation of incompetence and not corruption. They were clueless which is equal to incompetence. The north today has the highest illiteracy rate in the whole world, infant mortality, blindness and myriad of other problems. The north is worse off amongst the whole groups in Nigeria in all indices used to adjudge standard of living.
The welfare of the north could have been more worse if it were not for the work of non-governmental organizations from the southern part of the country that provide preventive and palliative services in place of the total absence of government services. Folks have always wondered why Nigeria is in this state of anomie, all I ask is for folks to look to the north and they will find the answer.
Folks should ask the question, how can the north do for the whole nation what they could not do for their northern people, the saying that you cannot give what you do not have, the north could not give that which they did not possess and that is competent service.
Ladies and Gentlemen, what I am contending here is that what the northern leadership demonstrated was not bribery, was not corruption or greed, what they demonstrated was peter’s principal at work which was basic incompetence because it is evident that as much as one will agree that the north had a reason to hold malice against the east, there was no evidence that they extended that malice to their northern brethren, nor was there evidence that the leadership hated their citizens, so their failure to take care of the welfare of the northern people and to make them better than the rest of the nation could only be seen as innocent and inert ignorance and not corruption.
Their failure to understand what leadership is all about and failed to make the connection between leadership and the people.
In case some of you have forgotten, let me remind you of what incompetence is all about: being Inadequate for or unsuited to a particular purpose or application, Devoid of those qualities requisite for effective conduct or action, and not possessing the necessary ability, skill,etc. to do or carry out a task".
I want the reader to pay attention to the words "unsuited, devoid, and not possessing and that will capture the crux of my argument. You have to be devoid of something serious to fail in everything. That north is simple and short not suited for the purposes of leadership and that is why they can not stop all the bad things that are happening. There were plenty of evidence that the north in most part were innocent and not corrupt nor were they inclined to bribery until years later when the leadership vacuums they created were filled by others who were equally as incompetent as they were.
The north did not start out not to bring the dividend of their leadership to the people, ironically they did not even try because they did not know how to try or what to try or do, they were super-morosed, and they simply vegetated throughout their leadership reign. The lack of performance on the part of northern leadership was not intentional because they just did not know how to perform anything. They had no expectations either from themselves or from others, they were satisfied with where they found themselves, complacency became the order of the day as they knew no better, as they could not see beyond where they were standing, evidence of incompetence not corruption.
As far as they were concerned everything was normal, they did not know the difference between performance and none performance, when they allowed some ideas and projects to be executed, they were unsuited and were devoid of the abilities and skills to grasp what exactly the ideas and projects were supposed to accomplish in the scheme of things, the final result and output supposed to look like. They heard the words but did not comprehend them, so whether a project was done half way, well done or not at all did not matter because the skill to do the evaluate did notexist, particularly when the highest level of education attained by almost all the northern military boys at that time was secondary school obtained from mostly moslem school. Beautiful  You said it better than I thought. |
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Politics › Re: Breaking: Ashaka Town: Army Repel Strong Boko Haram Attack by BlackTechnology: 4:07pm On Dec 07, 2014 |
Mowire: All these "repelling" and "dislodging" of terrorists are happening without SOE.
I did say then that an SOE might be unnecessary.
Our military could not have been so blatantly incompetent at defending the nation's territorial integrity. Corrupted system and institutions are the real problems aggravated by a lack of will by Mr. President. Trash Russian weapons in action |
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Politics › Re: Court Stops Obasanjo From Publishing Autobiography by BlackTechnology: 3:34pm On Dec 07, 2014 |
ebosse: You ever heard the saying "the easiest way to catch a thief is by putting a thief in-charge"..
Stop acting naive . . . who do you think can tell us more about what's happening in aso rock? A Christ embassy pastor based in Lagos or a thief who few years back was dining with thieves" .
Well, I guess we now know who the blank head is here. Joke's on U bro You are olodo raised to power 10 If a man who raped your daughter tells you that your wife is f ucking your best friend will you take such men serious. |
Politics › Re: Russia Disowns Arms-laden Cargo Plane Impounded In Kano by BlackTechnology: 3:30pm On Dec 07, 2014 |
Alenkakent: On d chopper is a boldly inscribed ISRF which is ... Russian Federation. This belongs to russian military... Who sold it to our enemies? What if it is a setup by CIA plot to destroy our Russian relationship. |
Politics › Re: Court Stops Obasanjo From Publishing Autobiography by BlackTechnology: 3:19pm On Dec 07, 2014 |
obiseq: I can see ur region filled with sky scrapers. olodo. Tell ur brother to bring out $20b he stole from oil subsidy. No problem but after Sanusi explain why he quoted several figures |
Politics › Re: GEJ Is a Failure- Willie Obiano by BlackTechnology: 3:17pm On Dec 07, 2014 |
Kingsley1000: I was amazed when i watched it on NTA-Awka... Apparently,Gej has failed ndi Anambra... Nwanne sorry I think your TV is powered by kerosene Pls sleep when you wake up revisit the so called thing you watched. |
Politics › Re: GEJ Is a Failure- Willie Obiano by BlackTechnology: 3:16pm On Dec 07, 2014 |
Fake news.
APC this won't work |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 3:10pm On Dec 07, 2014 |
atlwireles: This is a waste of time argument. You cannot reap where you never sowed. Yaradua made the same mistake, reducing pump prices, because the price of crude fell to the $40s. Only to draw down the excess crude account, to make up the difference in revenue shortfall, when crude oil did what it has always done. Which is go up and down. Billyonaire: Fashola, please reduce the price of toll-gates. BackDatAssUp: The average Nigerian is a fool. This same Fashola alongside his co governors wanted a total removal of fuel subsidy. revolt: if the lazy way out is what is still helping our telecoms sector then the Lazy way out is what we need. In the long run I dnt see our telecoms sectors plummeting in a 1000yrs. Gbam Subsidy must go and reinvested into other productive sectors |
Politics › Re: Court Stops Obasanjo From Publishing Autobiography by BlackTechnology: 3:05pm On Dec 07, 2014 |
toyecoach: This Buruji is so scared! I think he should accompany Pres. Jonathan to the States soon and see if he will be arrested Obj where is our $16b meant for electricity. You can deceive SW youths and leave them a legacy of mud houses but you can't deceive all Nigerian youths. |
Politics › Re: Court Stops Obasanjo From Publishing Autobiography by BlackTechnology: 3:03pm On Dec 07, 2014 |
nerodenero: I agree. Never too late to seek salvation. Back up your claims with facts. $16b meant for electricity Obj chop am From poor wretched ex-prisonser to rich transcorp owner. Obj= Thief=Liar |
Politics › Re: Court Stops Obasanjo From Publishing Autobiography by BlackTechnology: 3:00pm On Dec 07, 2014 |
nikky5: This is uncalled for. Kasamu is a hater of the truth. Baba knows him very well. If the press is not restrained from publishing any story.why OBJ. Very unfair. laimo: You now go to court to curtail people's freedom of speech.What will we not see in this clueless government. Obj must publish,we must know the truth. ebosse: Since they dey try hide the truth from us ,theres a simple solution to all this . When Record labels keep pushing an artiste album release date back what does he do? He simply "leak it on the internet" OBJ get enuff money he shouldn't care about sales... He can just use one of his boys to carry out the "leak" through PDF n ePubs. If asked he should simply say "it wasn't me" in shaggy's voice. Obj where is our $16b Thief= Liar And some blank head SW youths believe a thief like Obj No wonder SW is full of mud houses |
Politics › Re: Court Stops Obasanjo From Publishing Autobiography by BlackTechnology: 2:55pm On Dec 07, 2014 |
ridgeman: Its not April 1st but it should be. Hard to imagine OBJs lawyers actually bothering to respond. Even harder imagining OBJ not releasing his book in grander fashion. Now I'm interested in actually reading the book. Yes read a book written by a thief Thief= Liar  |
Politics › Re: Court Stops Obasanjo From Publishing Autobiography by BlackTechnology: 2:53pm On Dec 07, 2014 |
 This is one of the major reason why SW is full of mud houses How can Yoruba youths believe that a man who stole $16b meant for electricity will ever say the truth. Pls what's the difference btw a thief and a liar. Obj is a thief and shouldn't be listened to because a thief and a liar are one and the same.  |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 11:21am On Dec 07, 2014 |
Obiagelli and barcanista Which will you choose 1) leave the subsidy and use it to reduce pump price Or 2) Remove the subsidy and Reinvest it into other productive sectors like agriculture and industries. Obiagelli: You can spend outside the budget, let gej remove the subsidy now and return how much they have saved or reduce pump price and still return the amount they have saved in the past few weeks. Still u haven't answered my question on previous cuts and positives for other sectors. |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 11:15am On Dec 07, 2014 |
barcanista: at cost N100 and with a N30 intervention, the buyer is to pay N70. At cost N80 and with the same N30 intervention, there is no justification for the buyer to still pay N70, he is to pay N50. Let's put the devalued naira into consideration with 8% change in value of the dollar to naira, the buyer will pay between N53-55. That is Fashola's point!!!
If the Government want the N165 price to remain constant, then it must reduce the money appropriated for the subsidy without change in the subsidy itself. In your own scenaro, the interventionists will have to pay N10 naira to the merchant and no more N30 Guy see this economic angle below. BlackTechnology: If subsidy is still paid, it means we will see a reduction in pump price which is not the best option
Instead of reducing pump price with subsidy money, invest it into other productive sectors like agriculture and industries That #800b oil subsidy should be invested into other productive sectors like agriculture and industries |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 11:10am On Dec 07, 2014 |
Obiagelli: They are yet to return it since October, can you tell me what is going on.
And i ask again, the previous subsidy cuts, how has it helped industry and agriculture? Haba who told you they have not kept it well. Why GEJ is saying it now is because if he doesn't it means legally that money will be spent on subsidy therefore we will see a reduction in pump price which is not the best option Instead of reducing pump price with subsidy money, invest it into other productive sectors like agriculture and industries |
Politics › Re: Gov Fashola Ignorantly Seeks A Cut In Petrol Pump Price by BlackTechnology: 11:03am On Dec 07, 2014 |
OAUTemitayo: Did you know that ghana that also imports refined crude reduced their own pump price Do Ghana subsidize her fuel |