Crime › Re: UNIUYO Female Students Protest As Robbers Attack Them For The 2nd Time In 3 Days by Blue3k(m): 1:24pm On Aug 01, 2019 |
Wow they should consider transferring. They should also go talk to the dean or who ever is in charge. |
Politics › Re: Nigeria Buries Soldiers At Night In Secret Cemetery - Wall Street Journal by Blue3k(m): 6:36am On Aug 01, 2019 |
aolawale025: Only God knows what they told the families Sometimes the truth other times just lie. If you read original wall street journal article the give both examples. |
Politics › Re: Nigeria Buries Soldiers At Night In Secret Cemetery - Wall Street Journal by Blue3k(m): 6:28am On Aug 01, 2019 |
ISWAP is controlling territory in lake chad. In one article its said they have functional tax system and public projects. The main reason for that is because Nigerian military made business impossible so terrorists facilitated trade. The solution to some problems are counter intuitive. Western military officials say the Nigerian army is stretched so thin that its top brass are no longer talking seriously about defeating the insurgency, merely containing it.
Wall Street Journal Not surprising considering the Nigerian military is banking on military gear coming in 6 months to 2 years. They war could outlast Buhari's presidency. The secrecy isn't helpful. |
Politics › Re: Nigeria Buries Soldiers At Night In Secret Cemetery - Wall Street Journal by Blue3k(m): 6:01am On Aug 01, 2019*. Modified: 6:29am On Aug 01, 2019 |
“Several of my comrades were buried in unmarked graves at night,” said a soldier from the Maimalari barracks, where more than 1,000 soldiers are based.
“They are dying and being deleted from history.” Oh well hopefully they at least inform families and pay what ever is owed them. Until opperational tactics are made the soldiers will be mowed down. Its their waste and foolishness that prolong war getting troops killed. • Eliminate security votes. Budget that money transparently to military to avoid waste and fraud. They could have bought all the weapons they wanted without draining excess crude account. • Second focus resources on DICON and consider changing their role. The private sector can produce all the weapons effectively. • Third secure border and focus on economy of region. PS: If the war still ranging with what's NE redevelopment commission going to be doing?
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Crime › Re: Man Who Beat Up Two Electricity Officials Has Been Arrested (Video) by Blue3k(m): 5:23am On Aug 01, 2019*. Modified: 6:02am On Aug 01, 2019 |
Lol the idiot is getting what he deserved. Why did you feel the need to film your crime then post it on internet? He's clearly a stupid person.
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Politics › Re: APC Dismisses Sagay’s Corruption Claims Against Akpabio - Premium Times by Blue3k(m): 4:53am On Aug 01, 2019 |
Lol the war on corruption is great. After Nigeria becomes a one party state it will declared corruption free. Akpabio made the right call changing parties. |
Politics › Re: 'The Real Boko Haram is Defeated' - Garba Shehu Insists by Blue3k(m): 12:57pm On Jul 31, 2019 |
kingy1: I cannot agree less. But do you think they lack knowledge of these points? They aware of some these solutions. They're unwilling in case of security vote or just dont have enough funding in case of DICON or military spending. The border security suggestions I posted is pretty similar to the FG's plan. Most politicians just suggest chsnging security chiefs. I dont think these little details occur to them. I remember hearing only this during presidential debates. |
Politics › Re: 'The Real Boko Haram is Defeated' - Garba Shehu Insists by Blue3k(m): 11:52am On Jul 31, 2019 |
kingy1: so what is your take on the nonsense, uneffective, unrealizable solution they spew? Or is it today donations to less develope from all over the world have been taking place? The solutions are correct actually but not enough funding is going towards it. They also need to add more to list. They also need to chsnge opperational tacticts and stop wasting their own money. Its their waste and foolishness that prolong war getting troops killed. • eliminate security votes. Budget that money transparently to military to avoid waste and fraud. They could have bought all the weapons they wanted without draining Excess crude account. • Second focus resources on DICON and consider changing their role. The private sector can produce all the weapons effectively. • Third secure border and focus on economy of region. Border security solutions by CONNOR COLLINS: • Incorporate a network of electronic detection systems, such as radars, ground based sensors, cameras, and drones in select regions.
• Invest in physical instrastructure, establishing checkpoints and forward operating bases in the remote regions.
• Increase military patrols in high threat regions, to demonstrate a consistant presence and control that spans the border region. Chatham House: Security reform suggestions
• End Security votes •Create US-style inspector general offices tasked with exposing corruption, revealing waste and protecting whistle-blowers. • Consolidate the numerous security agencies and integrate each of them into either the military and police. • Consolidate Military support functions by creating joint combat support agencies that could help the force improve its dismal ratio of non-combat elements to frontline units. |
Politics › Re: CBN Is Indirectly Promoting RUGA Through FX Restriction For Milk Import by Blue3k(m): 4:37am On Jul 31, 2019 |
Nigerias protectionist policies are nothing unusual. There's a beef import ban, CBN has been promising low interest loans to ranchers and now this. They do this with any other industry when they want to prop it up. The list will grow since im pretty sure majority agreee with policy. |
Politics › Re: Senate Working On A Friday Unprecedented, Says Sen. Sani by Blue3k(m): 4:17am On Jul 31, 2019 |
Must be nice to legislate your own pay checks. |
Politics › Re: 'The Real Boko Haram is Defeated' - Garba Shehu Insists by Blue3k(m): 2:41am On Jul 31, 2019*. Modified: 11:42am On Jul 31, 2019 |
You're aware when people say boko haram they're talking about both terrorists groups. Even if you defeated the original boko haram if you haven't defeated ISWAP people will complain the war isnt won. In the future you guys should just say we dealing with the other terror groups. Then congratulate soldiers for work. The administration has embarked on an ambitious electronic/digital border monitoring scheme to curtail the porosity of the borders and, working with the UN agencies, the World Bank, the Islamic Development Bank, donor agencies and friendly countries, has started providing solutions to backwardness in development and poverty in the sub-region Focus more of the conversation on these solutions right after mentioning issue. Most wont read past headline honestly. |
Politics › Re: Excess Crude Account depleted by 85% in 5 years, $480 Million remaining by Blue3k(op): 2:27am On Jul 31, 2019*. Modified: 3:11am On Jul 31, 2019 |
pacino26: They should not forget the over 400M soldiers absconded with jare, it's part of the MILITARY SPENDING  Its been a few days they haven't made any arrest. They're a really incompetent bunch. If they were they Theives should be skinned and boiled within the week. Who knows what covert action they doing. |
Politics › Re: Ministerial Candidates Rush To Submit Asset Declaration Certificates by Blue3k(m): 4:15pm On Jul 29, 2019 |
Thats irresponsible of them. Hopefully they dont carry this habit to their work but im not holding breath. |
Politics › Re: Presidency: FG Did Not Ban Shi'ites As A Religion; Only IMN As An Organization by Blue3k(m): 1:24pm On Jul 29, 2019 |
FarahAideed: Every Shia in the NW is actually IMN.. Still doesn't make it religious ban. They can be shia without being part of the group. They can do prayers, attend mosques and practice their religion. |
Politics › Re: Presidency: FG Did Not Ban Shi'ites As A Religion; Only IMN As An Organization by Blue3k(m): 4:24am On Jul 29, 2019 |
This was the obvious defense they would take. Does it make sense to conflate IMN with Shia islam? A similar example is its legal to be secessionist but not an IPOB. IMN can always challenge it it court but Im not aware of them challenging their proscription in Kaduna successfully.
IMN are Shiites. Shites but not every Shiite is IMN. |
Politics › Re: There Is Nothing Like "North Central" In English Or Geographical Location by Blue3k(m): 2:25am On Jul 29, 2019 |
gaetano: Geography is what is used to assign geopolitical zones. For instance, Google will show you the part called south east USA You never heard of mid west in united states? Stop playing dumb.
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Politics › Re: There Is Nothing Like "North Central" In English Or Geographical Location by Blue3k(m): 1:34pm On Jul 28, 2019 |
Why you guys conflate geography with geopolitical zones is a mystery. You guys understand the point but want to complain about something. |
Politics › Re: Don Unachukwu Commissions Surface Incinerator In Idemili South LGA by Blue3k(m): 4:56am On Jul 28, 2019 |
What's funnier the LG chairman commissioning the toilet or incinerator? |
Politics › Re: “ruga Was A Hoax. Tinubu Will Never Rule Nigeria” – President, Arewa Youth Congr by Blue3k(m): 11:49pm On Jul 27, 2019*. Modified: 12:06am On Jul 28, 2019 |
It'll never cease to amaze me how you. guys hype this guy up. He's the real life Petyr Baelish (Little Finger). Has he even mentioned his intention to run? These corrupt politicians––Hausa, Igbo, Yoruba, Ijaw and the rest––connived and collaborated to frustrate the nomadic education of Prof. Jubril Aminu, murdered the Almajirai programme of Jonathan and are sponsoring the farmers/herders’ clashes Lol you guys really believe this conspiracy theorist? |
Politics › Re: Excess Crude Account depleted by 85% in 5 years, $480 Million remaining by Blue3k(op): 4:26pm On Jul 27, 2019 |
Final bump |
Politics › Re: Excess Crude Account depleted by 85% in 5 years, $480 Million remaining by Blue3k(op): 7:18am On Jul 27, 2019 |
“The total amount spent so far is $876.8 million. The equipment paid for has due dates of delivery of between six months to two years. Balance of the money that is unspent as at today is $123.1 million. What are y'all going to do with other hundred million? |
Politics › Re: El-Zakzaky: Court Declares Shiite (IMN) 'Terrorist Group' by Blue3k(m): 5:29am On Jul 27, 2019*. Modified: 5:55am On Jul 27, 2019 |
Not surprised at all. It was only a matter of time. They can see if they can appeal but the easy defense for FG is they aren't banning religion but unlawful protest. Its kinda like how you're allowed to be seccessionist but not ipob. However, the spokesperson for the group, Ibrahim Musa, said the government could not proscribe the movement, pointing out that its members were Muslims practising Islam as “revealed” by Prophet Muhammed.
He said the group was neither an association nor a political party that could be proscribed by fiat. |
Politics › Re: Nnamdi Kanu Releases Seven States That Will Form Biafra, Reveals System Of Gover by Blue3k(m): 12:00am On Jul 27, 2019 |
The system of government he's proposing is a confederation. Think of Switzerland as your example. |
Politics › Re: Umahi Inspects Commencement Of New International Airport & Stadium In Ebonyi by Blue3k(m): 11:55pm On Jul 26, 2019 |
Blank |
Politics › Re: Oby Ezekwesili Accuses Buhari Of Copying Campaign Promise by Blue3k(m): 11:48pm On Jul 26, 2019 |
Lol next time copyright your work. Btw he didnt ban milk, he banned forex on milk. The importers will have to source it from secondary market. I disagree with policy and also believe it will increase price of dairy products and encourage smuggling. |
Politics › Re: Excess Crude Account depleted by 85% in 5 years, $480 Million remaining by Blue3k(op): 9:35pm On Jul 26, 2019*. Modified: 10:39pm On Jul 26, 2019 |
The last issue is the unproductivity of Defence Industries Corporation of Nigeria (DICON). They should be making more sophisticated weapons after decades of bring in exist but all they do is design light arms. Recently Nigeria bought a cache of ammunition from Europe. My question is why is our weapons industry so weak. Im thinking DICON role should be re-examined. They private sector can manufacture ecerything from weapons to equipment. Proforce and Innoson already do things like armoured vehicles. “DICON, the main statutory manufacturer of arms and ammunition in Nigeria, has suffered neglect over the years and has been virtually non-operational. Consequently, the defence sector has to rely on external influence to determine the types of equipment to be sold or acquired. This has increased expenditure, reduced the multiplier effects on employment, encouraged technological spin-offs, and underdevelopment of the economy.
Minister of Defence, Mansur Dan-Ali |
Politics › Re: Umahi Inspects Commencement Of New International Airport & Stadium In Ebonyi by Blue3k(m): 8:39pm On Jul 26, 2019 |
Take your bets whos airport will be built first. Is it Anambra, Osun or Ebonyi? |
Politics › Re: Excess Crude Account depleted by 85% in 5 years, $480 Million remaining by Blue3k(op): 8:18pm On Jul 26, 2019 |
International Monetary Fund (IMF) ranked Nigeria as the world’s second-worst country in the use of sovereign wealth funds.
ECA depleted by 85% in 5 years A few politicans have said ECA is illegal anyway. I think NASS should look into regulating these executive more. How is the managed and invested compared to other countries? After that question is answered they'll figure out solutions. |
Politics › Re: Excess Crude Account depleted by 85% in 5 years, $480 Million remaining by Blue3k(op): 6:57pm On Jul 26, 2019*. Modified: 2:10am On Jul 27, 2019 |
•The record we have is that the Buhari’s administration paid $496 million for a dozen Super Tucano fighter aircraft for the Air Force. •Various other military procurements for critical equipment have been made. These are for the Nigerian Army and the Nigerian Navy, amounting to $380.5 million. •The total amount spent so far is $876.8 million. I'd like to say we could've avoided alot of this madness by eliminating the corrupt security votes. Nigeria spends 241.2 billion naira on security votes in 2017 that could be budgeted transparently directly to millitary and other security forces. That money is equivalent 670 million dollars which would have bought the millitary equipment. Minister of Defence, Mansur Dan-Ali said the recurrent expenditure in military budgets did not give enough room for adequate financing of capital projects, adding that in 2018, for example, the recurrent expenditure was about 73 per cent. NASS already passed police trust fund bill to fund their needs. Eliminating unlawful security votes will do same for millitary. If you look at chart nigeria could literally double budget of navy and airforce if the money is freed up.
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Politics › Excess Crude Account depleted by 85% in 5 years, $480 Million remaining by Blue3k(op): 6:43pm On Jul 26, 2019*. Modified: 3:12am On Jul 31, 2019 |
By Bamidele Samuel Adesoji
Nigeria’s Excess Crude Account has dropped to $480 million. This is as controversy continues to trail the $1 billion military spending which was withdrawn from Nigeria’s Excess Crude.
Nigeria’s Excess Crude Account has largely depleted in the last 5 years, and currently stands at $480 million.
According to the Central Bank of Nigeria’s annual report for 2018, Nigeria’s crude excess account fell from $2.45 billion in 2017 to $480 million as of December 2018.
• ECA stood at $3.32 billion in 2014 and has continued to drop.
• Specifically, between 2014 and 2018, crude excess account dropped by 85%, from $3.32 billion to $480 million respectively.
• This means that about $2.84 billion have been withdrawn by the government since that peak.
• Similarly, the CBN disclosed in its latest annual report that the drop-down in ECA between 2017 and 2018 is due to significant draw-down to bridge the financing gap of the three-tiers of government.
The Controversies: Recently, the federal government under President Muhammadu Buhari was accused of mismanaging the country’s Excess Crude Account especially the $1 billion reportedly spent on military equipment.
• The National Security Adviser (NSA) retired Major General Babagana Monguno Gen. Babagana was quoted to have disclosed that he was not aware of the whereabouts or disbursement of the $1billion drawn from the ECA by the Buhari presidency in 2017 for security purposes.
• While controversies trail the statement credited to the NSA, with many describing it as diversion of public funds, the Presidency provided some explanations.
• Responding to the allegations, Senior Special Assistant on Media and Publicity, Garba Shehu, disclosed that various procurements had been made for the purchase of critical equipment for the Nigerian Army, the Nigerian Navy and the Air Force, contrary to the allegations.
How the $1 billion was spent
According to Garba Shehu;
“The record we have is that the Buhari’s administration paid $496 million for a dozen Super Tucano fighter aircraft for the Air Force in a direct, government-to-government (no contractors or commission agents) transaction with the government of the United States of America. They are due for delivery in 2020.
“Various other military procurements for critical equipment have been made. These are for the Nigerian Army and the Nigerian Navy, amounting to $380.5 million. These procurements include money for the purchase of Navy Lynx helicopters.
“The total amount spent so far is $876.8 million. The equipment paid for has due dates of delivery of between six months to two years. Balance of the money that is unspent as at today is $123.1 million.
“The entire expenditure involved in these exercises is on the basis of government-to-government procurement. In cases where the Nigerian government dealt with equipment manufacturers, their home governments have in all cases given guarantees to the Federal Government.
“Again, it is important to stress that no contractors or commission agents have been involved in the procurements under discussion.”
Nigeria’s ECA in retrospect: In Nigeria, there are two Sovereign Wealth Funds: the Excess Crude Account and the Nigeria Sovereign Investment Authority (NSIA). Note that these two are funded by the savings earned when oil prices are at peak.
• Hence, as a larger chunk of revenue is appropriated for ECA and NSIA, the country’s external reserves are likely to fall.
• Note that the sovereign wealth fund was established to address the controversies surrounding the Excess Crude Account.
• The fund is usually expected to generate revenue to meet budget shortfalls in the future, provide dedicated funding for the development of infrastructure and saves for future generations.
ECA depleted by 85% in 5 years: A closer look at the various annual reports of the Central Bank of Nigeria shows that Nigeria’s excess crude account has depleted significantly over the years.
Some key takeaways: Earlier in April, the International Monetary Fund (IMF) ranked Nigeria as the world’s second-worst country in the use of sovereign wealth funds. According to the report, Qatar is the only country worse than Nigeria on the index. Source: https://nairametrics.com/2019/07/25/1billion-military-spending-shrinks-excess-crude-account-to-480-million/Front Page: Lalasticlala Mynd44
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Politics › Re: Land Owners To Eject Rochas Okorocha - Independent by Blue3k(m): 4:44pm On Jul 26, 2019 |
SLAP44: I think Ihedioha is being so lenient with okorocha, by now he should have been removed and placed in a jail permanently for his numerous stealing escapades on the wealth of Ndi Imo.
#okorochamustbejailed Let him finish his probe. He's been out media hyping the people hopefully he doesn't disappoint for his sake. If by the end of his furst time he doesn't get indictment he was never serious. |
Politics › Re: Southerners Take Note: The Waterways Bill Is Another RUGA by Blue3k(m): 11:44pm On Jul 25, 2019*. Modified: 12:08am On Jul 26, 2019 |
The bill, if passed, will put the control of water resources in the hands of the federal government and not the state. This water resources include river banks and water beds. Buhari vetoed the last one if you guys dont know. This one will probably fail for similar reasons. The bill is unconstitutional and cant stand in court. Even so alert your representatives about your opposition to bill. The President said he was rejecting the Nigeria Inland Waterways Authority Bill based on the issue of funding and overlap of functions.
According to him, “The comprehensive definition of the Nigeria Inland Waterways covers virtually all rivers, lakes and lagoons irrespective of the location of the body. The bill contradicts provisions of the constitution which limits the power of the National Assembly to make laws in relation to water from sources affecting more than one state of inland waterways which has been declared to be an international waterway or inter-state waterway.
Source |