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Hi NL family, please i need help! Just got a mail from kpmg for Aptitude test on monday 8th of aug 2016, I dont know what to read, though they wrote in the mail that its Gmat like questions. Please as i dont have any Gmat text with me, should i go and buy one at book stores now or is there any site for recommended download to practice for the test. Thanks Mod pls move to FP for quick response. Thanks |
fawemimooldele@gmail.com jpride: |
i can give you...............lolz, just kidding dear..... God will answer your prayers, in Jesus Name halfricanadian: |
Both Auditor General and Accountant General, has the power to carry out special/ad-hoc investigation in any ministries/extra-ministerial depts. check Financial Regulation 2006 as amended VenusBetty: |
I would have not quote you, but its a sin on me ignoring your ignorance. Either a muslim or christian, a healthy human being was gruesomely murdered, thats enough to pray for those who she left on earth for God's favour..................... I will not rain a curse on you, i will just pray for you not to be in morning mood the family of the deceased are now............... God Bless You keypad1: |
Following an investigation by SaharaReporters which disclosed that Williams Babatunde Fowler, tipped yesterday by President Muhammadu Buhari to head Nigeria’s Federal Inland Revenue Service (FIRS), claims an honorary doctorate degree from a shady institution in England known as the “Irish International University”, Mr. Fowler has engaged in desperate efforts to erase the controversial title from the internet especially on Wikipedia. Mr. Fowler's Wikipedia edits as of last night Sahara Reporters Media The so-called university was long exposed as a fake degree mill, akin to the equally phantom “Buxton University” named by Senator Andy Uba, former domestic aide to ex-President Olusegun Obasanjo, as the source of his “PhD.” In announcing Mr. Fowler’s appointment yesterday, President Buhari’s spokesperson had claimed that Mr. Fowler “had his higher education in the United States where he obtained a Bachelor's degree in Economics from the University of Wisconsin and a Master of Business Administration degree from the California State University.” An official statement issued by Mr. Buhari’s spokesman, Femi Adesina, also claimed that Mr. Fowler holds an “Honorary Doctorate Degree of the Irish International University”. The listing of Mr. Fowler’s academic degree raised eyebrows among Nigerians, especially on social media after SaharaReporters sent out a tweet exposing Mr. Fowler’s link with the fake university, an award that gave him the entitlement to refer to himself as “Dr. Fowler”. Stung by the revelation, Mr. Fowler whose appointment as the head of the FIRS was reportedly facilitated by Bola Tinubu, the National Leader of the All Progressives Congress (APC) party, has edited his bio on the web pages of the Lagos Internal Revenue Service (LIRS)http://www.lirs.gov.ng/mr-babatunde-fowler-full-resume/ but Mr. Fowler’s handlers are yet to remove his “Dr” title from his personal webpage http://meetfowler.com/aboutme.html. A Facebook post by a US-based academic, Farooq Kperogi, typified the critical response to the controversial appointment of Mr. Fowler. “After months of delays, ostensibly to properly vet his appointees, President Buhari just appointed somebody that may turn out to be a total fraud,” stated Mr. Kperogi, who earned a Ph.D. His Facebook post added that Mr. Buhari “appointed a certain ‘Dr.’ William Babatunde Fowler as the Executive Chairman of the Federal Inland Revenue Service (FIRS). Mr. Fowler has changed his bio on the website of the Lagos Inland Revenue Service Sahara Reporters Media Mr. Fowler’s lower degrees appear legitimate. Biographical entries on Wikipedia state that Mr. Fowler “obtained his first Bachelors’ degree with a Bachelor of Science in Economics and a minor in Political Science in 1978. He completed a second bachelors’ degree program at California State University, Los Angeles and also a Master of Business Administration degree program at California State University, Dominguez Hills in 1981.” As at yesterday Wikipedia listed Mr. Fowler’s so-called “Honorary Doctorate Degree” from the Irish International University on their page but overnight efforts were made to remove any reference to the Irish International University honorary degree from Fowler’s Wikipedia entry. Mr. Fowler's persoanl website still carries his "Dr" title Sahara Reporters Media Our correspondent’s check on the self-styled Irish International University showed that it is a fake “university” linked to Baron Knowth, a chartered accountant whose real name is Jeffrey Wooller. In 2008, the BBC exposed Irish International University as [a] fake university offering “substandard and worthless degrees.” Mr. Wooller, “a member of the Institute of Chartered Accountants, owns a £1.2m townhouse in Kensington but spends most of his time living as a tax exile in Monte Carlo,” the BBC reported. Our investigation also revealed that several Nigerian politicians, prominent among them former Governor Bola Ahmed Tinubu of Lagos State, had received honorary degrees from the Irish International University. Mr. Tinubu, who is the National Leader of the All Progressives Congress (APC), is believed to have pushed for Mr. Fowler’s appointment. In addition to Mr. Tinubu, other Nigerians like broadcaster Bisi Olatilo, the owner of UK-based BEN TV, Alistair Soyode, politician Timi Alaibe, Senator Grace Bent, and a traditional ruler, Oba Fredrick Obateru Akinrutan of Ugbo Kingdom in Ondo State, received fake honorary degrees at a shady event orchestrated by the fake university in London. Forbes magazine named Oba Akinrutan the second richest monarch in Africa, behind the King of Morocco. The ostentatious monarch often boasts to reporters about his $1 million wristwatch and his fleet of cars, including a Rolls-Royce and Bentley. Mr. Fowler claimed to have received his so-called honorary degree from the Irish International University in May 2007. Mod move to FP |
The notice was served in written monthly rent but pays annually kapai: |
Hello NL family, Please i need an urgent help in dealing with a tenant in my apartment, His month expires in May 2016, but due to general renovation and family issue on shares of apartment to family member(the house belongs to my father), i gave a notice to quit the apartment to the tenant on 7th of April, informing him to quit the apartment on expiration of his tenancy rent (which is considerably two month notice), on the expiration of this date, he pleaded for another one month, 10days, which expires on 10th of July 2016. On meeting him today on reason why he has not move out of the apartment, he his saying he his entitle to stay of 3 months after expiration of his tenancy rent. Please the estate agent, legal luminary and sundry i need an advice on the next line of action; Thanks. Please mod, take to FP |
Instead of sitting at the comfort of your home, complaining, chating on NL, whatzapping etc why cant you find something doing, like farming, Poultry farming in Nigeria is becoming lucrative, also there are other lucrative farming business like planting of plantain which requires less stress etc. there are many opportunities like dat in farming. With the FG adoption of Egg in feeding nigeria schools one meal per day, the demand for egg will increase in few months time, and i think it takes nothing less than 22weeks or so to start egg production with layers and it takes an average of N800 per chick for feeding from DOC to maturity (these are rough estimation) Ogun state govt give 50% discount on land purchase for farming, Presently am about to purchase a land in Oyo state for farming at the rate of 60,000per acres and also an interesting thing is dat labour in those area is so cheap. Think brother, research, work and succeed. A nation can not survive with this kind of thinking mentality. God Bless you DDeliverer: |
hi bro,Please am interested in this poultry business but first, i will need to discuss with successful business owner like you, please kindly send me ur contact @ fawemimooladele@gmail.com or kindly send me ur mail here so i can contact you.......... please quote me on ur reply for ease follow up. Thanks More grace osabuohein: |
HI GUYS, AM KAPITAL, LETS RUB MIND ON THE FORTHCOMING DIET............. ASK YOUR QUESTION? IF YOU NEED THE ICAN MATERIAL DROP YOUR MAIL SPECIFYING THE COURSE YOU NEED... THERE IS LOVE IN SHARING |
hI Kalan, thanks for the good work, Please i need to know the cost and duration (in terms of number of month)it will take to study PT Msc Finance/ Msc Developmental Finance and also to know the type of PT available for those course, as i heard that there is daily evening PT and Weekend PT. Please i need response on this.# Thanks kalan: |
My dear you need to understand what is called elasticity, then you understand that Nigeria is on the right pact. God Bless Nigeria! God Bless the president! everydayperson: |
God bless Nigeria! God Bless PMB! Hail the President! |
Open Letter To Asiwaju Bola Ahmed Tinubu My dear Asiwaju, I am compelled to write this open letter to you because of the state of affairs of the Yoruba nation. Firstly, I wish to acknowledge that fate has put you in a prime position to determine to a large extent the direction that the Yoruba people will go. The indisputable truth is that one may quarrel with your politics but your sagacity is never in doubt. Even those who don't see eye to eye with you agree that you are imbued with unusual native intelligence, uncommon people skills and unrivaled foresight. You, more than any other person, has been the game changer since the advent of democracy in 1999. It is for these reasons that I have chosen to direct this letter to you My singular purpose is to tug at the strings of your heart. I am not writing to appeal to partisan considerations but to see, if per chance, I can pour out my heart to you in a manner of speaking. God has blessed you even beyond your wildest imagination. You have installed Senators and Governors. You have removed Governors and even a President. You have also installed a President. There is nothing you have wished for or desired that you didn't get. Fortune has smiled on you. Goodwill follows you everywhere you go. You have done very well- more than most men ever will. However, there is one area that is begging for your urgent attention. This area may well define you and all you have ever achieved. This matter, in my opinion, is the only difference between you and the late sage, Chief Obafemi Awolowo. Let me restate for the purpose of emphasis that this is the area in which the late sage and Leader of the Yorubas stand head and shoulders above you. It is the reason his name has been a constant denominator in our regional and national politics. It is the reason politicians, friends and foes invoke his name for political advantage and personal glory. It is also the reason why we can't stop talking about him almost thirty years after his death. What will anyone say about you thirty years after you have transited? Asiwaju Sir, you may be wondering what I'm talking about? It is the issue of legacy. According to Peter Strople, 'Legacy is not leaving something for people, it is leaving something in people'. Legacy is building something that outlives you. Legacy is greater than currency. In the words of Leonard Sweet, ' What you do is your history. What you set in motion is your legacy'. You can't live forever, Sir. No one can. But you can create something that will. Enough of speaking in parables- I shall now speak plainly. When destiny brought you on the scene, we were enamoured because you championed the case for true federalism. It was your belief then that the Yoruba nation will fare better under a restructured arrangement than under the type of unitary government we run while pretending by calling it a federal government. Everyone knows that there is nothing federal about our government at all. If truth must be told, the Yoruba nation has fared very badly since the advent of our new democracy. And this is not about holding power at the centre. Let me bring this home: someone passed a comment recently that he would want Biafra to become a reality because he knows the Igbo nation will survive. That comment led me to deeper introspection as I wondered if the Yorubas can truly survive. Let me cite my first example. From Oyo to Osun, Ogun to Ondo, Ekiti to Kwara and Lagos, hardly will one see any serious industry or manufacturing concern owned by a Yoruba person. I am not talking about portfolio businesses or one-man business concerns. Most industries in Oyo State are owned by the Lebanese. The native business and industry gurus who dominated the landscape- Nathaniel Idowu, Amos Adegoke, Lekan Salami, Alao Arisekola, Adeola Odutola, Jimoh Odutola, Chief Theophilus Adediran Oni and others- are all gone with no credible replacements. I'm sure you remember the tyre factory of the Odutolas and how Jimoh Odutola was even asked by the Governments of Kenya and Ghana to set up a similar factory in their countries. Chief Theophilus Adediran Oni, popularly called T.A Oni & Sons started the first indigenous construction company in Nigeria. He willed his residence- Goodwill House, to the Oyo/Western state government, to be used as a Paediatric Hospital, which is now known as T.A Oni Memorial Children Hospital at Ring Road in Ibadan. This sprawling family Estate and residence was cited on a 15acre piece of land, 65 rooms, with modern conveniences, Olympic Swimming Pool and stable for Horses, etc. People like Chief Bode Akindele started companies like Standard Breweries and Dr Pepper Soft drink factory at Alomaja in Ibadan. Broking House built by the late Femi Johnson, an insurance magnate, still stands glittering in the mid-day sun as an epitome to a rich history that Ibadan has. The most serious and only notable Yoruba entrepreneur we have now is Michael Adenuga. I say this quite consciously because most of the other names are oil and gas barons. Most of what stood as testaments of industry in Oyo State are gone- Exide Batteries, Leyland Autos and many others. In its place are shopping malls and road side markets but no nation develops through buying and selling alone- especially when you're not actually producing what you're selling. Hypermarkets and supermarkets have taken over because of the need to feed our insatiable consumer-appetite and foreign tastes. In one instance, an ancient landmark in the form of a hotel was demolished to pave way for a mall. That is how low we have sunk. If our past is better than our present- if we always look back with nostalgia frequently, then there is a problem. The case of other states is not different. Osun's case is pathetic. Ditto for Ondo and Ekiti. Ogun State can boast of some factories at Sango-Otta and Agbara axis but most of them are not owned by the Yorubas. There is no significant pharmaceutical company owned by any Yoruba except for Bond Chemicals in Awe, Oyo State- and its wallet share is very insignificant. For Lagos State, more than 70% of the manufacturing concerns and major industries in the State are owned by the Igbos. If the Igbos were to stop paying tax in Lagos State, the IGR of Lagos State will reduce by over 60%. In contrast, Sir, go to the South East and look at the manufacturing concerns in Onitsha, Aba and Nnewi. Please don't forget those were areas ravaged by civil war a mere forty something years ago. The Igbos have certainly made tremendous progress but the Yoruba nation has regressed. I wish to state that this letter is not meant to whip up primordial considerations or ethnic sentiments but just to put things in proper perspective. Asiwaju, I will like to also talk about the state of education in the Yoruba nation. Our education has gone to the dogs. We have a bunch of mis-educated and ill-educated young men and women roaming the streets. Ibadan, for instance, had the first University in Nigeria and the first set of research centres in Nigeria ( The Forestry Research Institute, the Cocoa Research Institute (CRIN), The Nigerian Cereal Research Institute Moor Plantation (NCRI), the NIHORT (Nigerian Institute of Horticultural Research), the NISER (Nigerian Institute of Social and Economic Research), IAR&T (Institute of Agriculture, Research and Training), amongst several others). Ibadan was the bastion of scholarship with people like Wole Soyinka, JP Clark, D.O Fagunwa and Amos Tutuola as residents. In the May/June 2015 West African Senior Secondary Certificate Examination, Abia came tops. Anambra came 2nd while Edo was 3rd. Lagos placed 6th while Osun and Oyo was 29th and 26th. Ekiti was 11th, Ondo State was 13th and Ogun State was 19th. In 2013 WASSCE, only Lagos and Ogun States were the Yoruba States above the national average. If we do an analysis of how Lagos placed 6th in 2015, you will discover that it was substantially because of other nationalities resident in Lagos. For proof, please look no further than the winners of the Spelling Bee competition which has produced One-Day Governors in Lagos State. Since inception in 2001, other nationalities have won the competition six times (Ebuka Anisiobi in 2001, Ovuwhore Etiti in 2002, Abundance Ikechukwu in 2006, Daniel Osunbor in 2008, Akpakpan Iniodu Jones in 2011 and Lilian Ogbuefi in 2012). Sir, there is something seriously wrong about our state of education. From the vintage times of Obafemi Awolowo who initiated 'free education', we have regressed into a most parlous state. Let me talk about roads, housing and infrastructure . The first dualized road in Nigeria, the Queen Elizabeth road from Mokola to Agodi in Ibadan was formally commissioned by Queen Elizabeth in 1956. The first Housing Estate in Nigeria is Bodija Housing Estate (also in Ibadan) which was built in 1958. The state of roads in the Yoruba nation has become pathetic. Our hinterland are still largely rural. Even some state capitals like Osogbo and Ado-Ekiti are big villages when you compare them to towns in the South East. How many new estates have been built over the last decade? Even Ajoda New Town lies in ruin. We have abandoned the farm settlement strategy of the Western Region and only pay lip service to agriculture. Instead of feeding others like we once did, others now feed us. We plant no tomatoes, no pepper and the basic food that we require. The Indians have bought the large expanse of water body that we have in Onigambari village. The water body in Oke Ogun of Oyo State can provide enough fish to feed the whole of the South West. From being a major cocoa exporter many years ago, one can point to just a few vestiges of factories that still deal with Cocoa in the Yoruba nation. 80% of Cocoa processing industries in the South West have been shut down. The Chinese have taken over the cashew belt at Ogbomoso in Oyo State. They have even edged out the indigenes as brokers. They now come to the cashew belt to buy from the local farmers, sell on the spot to other Chinese exporters who now process the cashew nuts and import them back into Nigeria at a premium. Sir, there are only 7 major cashew processing plants in Nigeria and you can check out the ownership. The glory has departed from the Yoruba natio Apart from Asejire, Ede, Ikere Gorge and Oyan dams built ages ago, where are the new dams to cater for increased population and water capacity for the Yoruba nation? How have we improved on what our heroes past left us? Maybe apart from certain areas in Lagos State, others can't even supply their citizens with pipe-borne wate Our youth which we used to take pride in are largely a mass of unemployed and unemployable people. Have you noticed the abundance of street urchins, area boys, touts and 'agberos' that we now have all across the Yoruba nation? Have you noticed the swell in the ranks of NURTW (I mean no disrespect to an otherwise noble union)? Have you noticed the increase in the number of Yoruba beggars? There was a time that it was taboo for a Yoruba man to beg- but no more. The spirit of apprenticeship is dead. There was a time that people who learn vocational skills celebrate what we referred to as 'freedom'. While that is largely moribund now in the Yoruba nation, the Igbos still practice it with great success. The only thing we can boldly say the Yoruba nation controls is the information machinery- the press. We own largely the newspapers- the Nation, Punch, Nigerian Tribune, TV Continental and a few others. It is because of our control of this information machinery that we have rewritten the narrative in the country with the misguided self-belief that things are normal and we are making progress. A look beyond the surface will prove that this is so untrue. We are largely divided. For the first time in the history of the Yoruba nation, religion is about to divide us further- and it is starting from Osun State. You are married to a Christian. My own father-in-law is an Alhaji. That is how we have peacefully co-existed but the fabrics are about to be torn to shreds because of poor management of issues. Afenifere has been reduced to a shadow of itself. OPC that once defended Yoruba interests has gone into oblivion. Yoruba elders have been vilified in the name of politics and partisanship. It is no longer news to see teenagers throwing stones at their elders because of their political indoctrination. Even under the late sage, Chief Obafemi Awolowo, the Yorubas never belonged to just a single party- yet our unity was without blemish. Now, our values have gone down the drain. Asiwaju, I believe I have said enough. The task is Herculean but I believe Providence has brought you here for such a time like this. It is time for the Yoruba nation to clean up its acts. What do we really want? How can we quickly right the wrongs? The Yoruba nation is in a state of arrested development. The Yoruba nation is gasping for breath and crying for help. Will you rise up to the occasion? I am aware you understand that all politics is local and charity begins at home. Our fathers gave us a proverb: 'Bi o'ode o dun, bi igbe ni'gboro ri'. I know there are no quick fixes but I also know that if there is anyone who has the capacity to do something about our current situation, that person is you. This should be the legacy you should think of. Your legacy is our future. Yours Very Sincerely. N/B: not my article |
MONEY HAS MAKE OUR HIGHLY HELD ESTEEMED LAWYERS TO LOOSE THEIR INTEGRITY https://www.youtube.com/watch?v=ZtlEBgiv-Mo&feature=youtu.be |
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i wonder y everyone is advicing you to hit the second option because of its brand name. Becky before i join the bandwagon of option two or do otherwise, i need some info from you to help me put my opinion together on this issue. 1. what is your career path ( i mean your profession) 2. Are you ready or do you wish to pursue this career path to its hight? 3. What is your position in your current Job, and how long is the career progression in this job? 4. In what position or capacity you will be working in the proposed contrct job with shell? Response to the above questions will allow me to form my opinion, and to ditch out my advice as well. Beckybeky: |
"Suddenly, they dislike Obama for shaking and always giving Buhari an audience. They say a Fulani man shouldn't be ruling them. They care less about his capacity and competence. All they see is a Fulani and a northerner. They hate the war on corruption. They say it's one sided, witch- hunting, persecuting and selective. Yet they want Nigeria to be better They hate the Nigerian Army. They now love Boko Haram and don't want insurgency to end. Because victory over Boko Haram is shame on their man and a credit to Buhari! They now see Saraki as their hero regardless of his corrupt past and present, as long as he is doing their bidding and disregarding his party's directives. They love his being an APC by day and a PDP by night. To them, rebellion is a good thing. They now love Wike, Fayose, FFK, Okupe, Metuh, Diezani, Iweala, and co. to always talk and defend the indefensible. Even when they know they were part of the group that almost destroyed the country. They blame Buhari for padding. They asked Buhari to sign Budget Summary. Even when they know that's not the ideal thing to do. Yet they will be the first to blame him if budget implementation fails. They complain about fuel scarcity yet they are the ones causing the scarcity. They blame Tinubu for scolding Kachikwu. They were expecting Kachikwu to insult Jagaban...How disappointed they were! They called Jonathan a saint. Jonathan and co. are refunding their loots. They say we should let Jonathan be. Even when they know he oversaw the worst mismanagement of the Nigerian economy. And in all of these, they chorused, "is this the change we voted for?" Even when they know they never voted for change in the first place. That is how mischievous an average wailer is......They're career sadists, enemy of decency, and haters of progress!!!! One moment they say they are Biafrans, the next moment, they say they are British!!! So you knew you're British and you came to disturb the peace of another country. Hypocrite! One moment they say FFK hate them. Later, they say FFK is their man. They will say Kachikwu is not theirs but call for Kachikwu's resignation, they will say you hate them. To them, Dasuki is from Aba, Okorocha is from Kano. Their complaint is that they hate Nigeria and want her dissolved. Ask them for solution they will tell you, 'Concede power to us, let's lead Nigeria.' So Science and Technology is not good, Labour Ministry is bad and there's nothing in Foreign Affairs. Yet they didn't complain when Jonathan gave them Labour....yet no wahala. They will wonder why Yorubas are not supporting Saraki but worry less about why they hate Amaechi so much! Hatred is a vehicle that can only take its passenger to a destructive destination! You can't sow hate and reap love! It is a natural law. There's nobody that cannot rule Nigeria, if Jonathan can, if Gowon can, anybody can but no one can do it alone or use a vehicle of hate to get there! take to FP cc: lalasitical |
LOLZ..........!
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MODERATOR PLEASE PULL THIS POST DOWN, ITS A SCAM, DONT BE AN ANCCOMPLICE TO FRAUDSTER |
nan1: Godblessaplus1:https://www.nairaland.com/2992947/letter-p-square |
oga when you copied someone else write up, please try to refrence #protectintellectualproperty Godblessaplus1: |
Dear Psquare, I want to ask * WHY E BE SAY * una wan split after all these years? Coz u guys seem to have forgotten that there is * NO ONE LIKE YOU * in Africa, and u also forgot that God used * IFUNANYA* to make it a * POSSIBILITY * for u guys to be * UNLIMITED * today. I feel so bad over your latest * STORY* coz * I LOVE YOU* and i urge u to deal withyour present situation * PERSONALLY * and do not let your * BEAUTIFUL ONYINYE’s * make you split. Don’t forget that they are only there to * CHOP YOUR MONEY *. I know that * E NO EASY* but u guys should try not to get involved in any * BIZZY BODY* because it will only lead to more * DANGER* in your carreer, Omo WAHALA go dey and your fans will no longer be able to dance * ALINGO * again. settle the problems u guys are having, coz e get as e dey * DO ME* anytime i hear say u guys want to * BREAK IT *. I also heard that you brought *OGA POLICE* in to the matter. I want u guyz to be * MORE THAN A FRIEND * to avoid any * TEMPTATION * which will lead to * GAME OVER*, we are hoping to hear your * TESTIMONY *-@Olufex4u TAKE TO FP |
@Mayor ordinarily using machine we mould 60 blocks of 6" per bag but using hand mould you can mould 50-55 even 60 if you can supervise them. if you can get this variant of sand - soft sand (Best for plastering), Gum sand ( how to identify this is to take the sand and mould with palm, if it mould after few secs then that is it) then get sharp sand. if they measure with standard wheel-birrow. you could mix 4-2-1 for a bag of cement. the first mix, should be dry mix, then second mix water comes into it(mind u you wet mix after like an average of half-while-birrow) then the third mix is the final mix. with that i can assure you of strong 60 per bag block Mayor78: |
WHERE IS DANGOTE? |
@ Mayor u need to add the money you gave to your friend, it is an incidental charge to encourage purchase at low cost while maitaining quality and quick delivery Mayor78: |
i want to ignore this but i felt that someone need to be saved from ignorance........... ops please reflect on your post once more................ dont be surprise if you write some uni-putm you will see challenge them again............ i dont pray this happen to you... i wonder what the guy that had a G.P of 5.0 score in his jamb.. Prepare for your Putme |
Open Letter to President Buhari/Osinbajo Re: Devaluation of the Naira By Dr ( Senator ) Bode Olowoporoku The controversy as to whether to devalue the naira or not has taken the centre stage in the national discourse. One can pardon illiterates in economics especially primitive accumulators who are shouting for further devaluation of the naira. But when some professors of Economics and Ex CBN Governor and IMF have joined the chorus to continue to devalue the naira, then, something serious is amiss. The single reason they all gave is because the rate of Naira in the paralleled market has worsened. In the first place, Nigerians must know that the Dollar is not a legal tender in Nigeria. Only the Naira is our legal tender which facilitates the exchange of goods and services among Nigerian citizenry. I beat my chest that my former students who are now professors of Economics who went through my courses on theories and strategies of Economic Development at Ife can never make mistake of joining the neoclassical scholars on this fundamental issue which is central to the economic developments of Nigeria. The history of nations that have developed shows that nations during their development process concentrated on the internal organization of productive sector and not the exchange of their national currencies against any foreign currencies. It was only during the gold standard that every country was legally compelled to relate their currencies to the value of gold which was like a legal tender in all countries. But since it was discovered that the expansion of different economies was put in straitjacket by gold standard and so it was abandoned. Every country was allowed to have its national legal tender and therefore no compulsion or pressure to fix any national currency to any external currency. Thus when Japan embarked on its historic strategic economic development, the Japanese Yen was about 1,000 to the Dollar. Today it is 112.86 to the dollar. It is the growing strength of the Japanese economy that has moved its currency to its present exchange Rate Level. Japan was not under pressure to devalue its currency, it ignored all external rates of the Yen and concentrated on increasing its productivity and productive capacity. China also ignored any exchange rate, devised visible and invisible walls round its economy in complete autarky. The Yuan that was unknown some years ago is now gradually becoming international currency. In fact, most big countries that have attained meaningful economic development used autarky or semi-closed economy as strategic device during their infant years on the race to accomplish fundamental economic development. What is important is development. Countries which have developed models and strategies of economic Development have no time to be panicking about the exchange rate of their national currency to any other foreign currency. The concentration is on expanding the productivity and productive capacity of their country. It is the primitive accumulators coupled with neoclassical esoteric scholars that want to derail President Buhari from concentrating on how to get Nigeria started on the path to fast-track the development of Nigeria. Therefore, President Buhari is right for insisting that the Naira will not be officially devalued any further. It has been devalued twice or thrice from N150 to the dollar to its present official rate of N196 to the dollar, Despite, the rate at the parallel or black market widens. It is above N300 to the dollar now. If the Government should start running after closing the gap between parallel market, it will develop into run away rate and this will be disaster because the naira will soon become object of rejection. It is the enemies of government who want to drive the government into no end devaluation of disaster. I wish Buhari were a military Head of State so as to have power to ban the parallel market and let us see those who are used to Dollar as their own Legal tender who will run away from this country. It was a shame that Jonathan as President of Nigeria resorted to the use of dollar to the extent that Dollar became the legal tender in the Villa which made dollar to become the legal tender in the strategic institutions of Nigeria. In fact the State Governors then opted that its monthly allocation should be in dollar, what a disaster that the regime inflicted on Nigeria. We are now reaping the agonizing fruits of the locust years of misrule of Nigeria. Those who are crying hoarse are thiefs, money launderers and other primitive accumulators who trade only in money and not in goods and factors of production. The most critical importance of foreign exchange is the effect on the external balance of trade/balance of payment. The bigger the deficit in balance of trade the greater the problem of the Country. Therefore the important countries of the World used all methods at their disposal to restrict imports and encourage exports so as to ensure favourable balance of trade which would also enhance productivity and employments. Some closed their economy completely in what is called autarky. Japan, China and Britain etc used autarky to curb and developed exports behind protective walls. If we devalue the Naira, the benefit should be to reduce import and increase export. But because we are a consuming nation there is nothing to export, therefore there is no gain to the Nigeria economy from such devaluation venture. Worse is that the appetite of Nigerians for foreign goods is inelastic which means that when devaluation makes foreign goods more expensive, this does not reduce the Nigerians demands for the goods. Therefore why should an enlightened Nigerian be excited that Nigeria will bleed on all fronts if we continue to devalue. The reason some people advance is because of round tripping by banks. It is a pity that President Buhari has not yet put radical economic revolutionary policies in place. Why must the CBN continue to distribute US Dollars monthly or weekly? Is that how Malaysia, Brazil, Ghana, South Africa, Hong Kong, Singapore, Turkey etc allocate Dollars weekly or monthly? It is this allocation that breads corruption which destroys and distort the productive apparatus of Nigeria economy. As part of President Buhari economic policy, let a Commission be put in place with a mandate to diversify, increase the industrial capacity of Nigeria. A list of industries that can directly manifest the mission statement of the Commission be put in place. The dollar allocation should go to such industries and under the watchful eyes of the Security Agencies. Part of the dollar earned from oil should be used to boost our foreign reserve. Any other establishment that cannot operate within the confine of Nigeria development goals and targets can ship out. Those industries that have large employment absorptive capacity, and or export orientation must be adequately catered for in the allocation of the dollar whose value to naira will be determined to deliver the political economy of Nigeria from the shackles of underdevelopment. The only vacuum in President Buhari policy is that he has not unfolded meaningful economic policy vision that can refocus the psyche of Nigerians to an inevitable future that is full of reaping the benefits of the sacrifice being made now. Buhari cannot rule in a visionless vacuum. He needs economic vision which can get the citizenry to fast-track the development of Nigeria. National Conference cannot fix this for President Buhari. Economic Development is not costless, it has pains incorporated. But if the Government unfolds Economic Policy that can make Nigeria know that soon, it will be comfort and happiness, Nigerians are willing to sacrifice. Only the elitist primitive accumulators who have stolen Nigerian wealth in a big way can almost go to war because Nigerians are being asked to sacrifice. They are the enemies who inflict injuries on the common man. If President Buhari must be the Messiah as countries which have developed have their messiahs at critical period of their development, therefore President Buhari must engage knowledgeable Nigerians to draw up economic development programme. Budget is just a fiscal layout of revenue and expenditure of government. It is at best an exercise in infrastructural guide of the nation. What we are talking in Economic Development is an integrated holistic programme of total mobilization of the citizenry and remodeling their psyche to diversify and increase the production and productivity of the entire citizenry. To achieve this, all the Nigerian economy must be organized on Systemic Models, sector by sector with different academies that will outreach all programmes into the entire citizenry. Economic Development is not an esoteric theme of the neoclassical theory rather it is an empirical policy drawing and blending from similar historic and recent successful experiments. President Buhari must sit down and act fast so that detractors and scholars of neoclassical theory (which IMF represents) do not overwhelm him into permanent derailment. Because oil price dropped, therefore major source of dollar accumulation dropped and the value of naira to dollar inevitably dropped therefore some well placed Nigerians shout that there is economic crisis. But if there is shortage of water, cassava, yams, maize, there is no talk of economic crisis. The total foreign sector of Nigeria that must use Dollar as their Legal tender is not more than 15% (or less) of the Nigerian economy. It is in the interest of long run development of Nigeria to reduce the 15% for now until Nigerian Economy has grown the structures and capacity to export and compete in the World Market as Japan, China, India etc has done and as Britain did when it was trying to industrialize. It is not in the interest of Nigeria to leave gold standard and move to dollar standard. Lastly, I want to feel that it is not because of dollar crisis that an Economic National Conference is being called. This cannot be the alternative solution. The only solution to grow the Nigerian economy and it is the duty of Government to put in place economic programmes that can expand the domestic economy of Nigeria. Experts in Economic Development must be called to bear the task. By Senator Dr. Bode Olowoporoku (Ph.D Econ, Manchester) Former University of Ife Lecturer in Economic Development Former Commissioner for Economic Planning and Statistics, Ondo State Former Federal Minister of Science & Technology Senator of the Federal Republic of Nigeria 2003 - 2007 CC; LALASITICAL |
Lets see how its goes, we will come back in 2019 to compare tanzania with Nigeria and see which leader achieved most in the long run................... You can not run a country like a class room....... Learn from the established nations |
Hi guys, I need your comments on this pics.............. Pls no insult, just love modelling
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Kareem Abolore Abdulfatai a corper serving in Auchi Edo state lost his life yesterday as a result of an accident.........A Bully Van transporting bank notes hit him on his way to his PPA on MOnday morning and was rushed to a near by hospital, but eventually gave up to ghost YESTERDAY (TUESDAY 23/02/2016). He is more than a friend to me, He is a brother, An accountant, graduated from AAUA, A ginius, an emiritus in Accounting, an athourity,,,,,,,,,,,,,,,,,,,,,,, i Miss you broDA, Ondo State miss you, AAUA class '14 miss you, Nigeria Miss you......................... MAY YOU GENTLE SOUL REST IN PERFECT PEACE
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