₦airaland Forum

lovere:
I don't believe that he said that. Maybe he was quoted out of context. But...that man with weird dressing sometimes misbehaves. I remember united States of Nigeria comment.

He said it during an interview with Voice of America Hausa Service

Dalung no send anybody. He speaks his mind

https://www.google.com/amp/www.vanguardngr.com/2016/11/dalungs-bombshell-nigeria-hungry-attend-world-cup/amp/?client=safari

Minister of Sport and Youth Development, Solomon Dalung yesterday stunned all when he told the Voice of America that he was against Nigeria’s participation at the World Cup.

His reasons: “That competition stinks of corruption; that Nigeria is too poor to waste money on it and that Nigeria would never win the trophy”.

The implication of his statement is also that it is not necessary to waste money qualifying when you cannot win the World Cup.

http://www.bbc.com/news/health-36482367

There has been widespread criticism of the pharmaceutical industry, including from groups such as Medicins Sans Frontieres, for pricing the poorest people out of life-saving drugs.

But Mr Soriot, a former vet, said, when it came to cancer drugs, this was unfair.

He said: "In some cases, it's not realistic.

"In some parts of Africa, we could give our products away and it would make no difference

"It is not only a question of medicine, it is a question of infrastructure. Where is the hospital? Where is the doctor?

"One of the things we have to do is educate physicians so the diseases can be diagnosed and treated."

Mr Soriot said high blood pressure was a bigger concern than cancer in Africa and that the company was offering hypertension medicines for "almost nothing" while training people to do blood-pressure screening.

"We have now diagnosed and treated more than 500,000 patients in this pilot programme [in Kenya], and we're expanding it," he said.

RIP Stephen Keshi!!

http://www.bloomberg.com/news/articles/2016-06-05/desperate-for-funding-nigeria-prepares-to-face-bond-investors


The odds are stacked against Nigeria as it looks to raise debt on the international markets for the first time in almost three years.

Finance Minister Kemi Adeosun is leading a team of officials that will meet bond investors at London’s five-star Corinthia Hotel on Tuesday at a time when Africa’s biggest economy is on the verge of a recession, oil production has fallen to about a three-decade low, and the budget deficit has swelled to a record. Yields on Nigeria’s existing dollar debt are almost twice as high as those for Kazakhstan and Colombia, two other developing-nation oil producers.

While they’re interested in plans to revive growth, investors said they will also demand to know when and how the central bank will end capital controls and a currency peg that has starved the country of dollars and slowed foreign investment to a trickle. Tapping the offshore bond market this year is crucial for Nigeria to fund a budget of 6.1 trillion naira ($31 billion) meant to stimulate the economy, according to Rand Merchant Bank.

“They will be under immense scrutiny,” Nema Ramkhelawan-Bhana, an analyst at RMB, FirstRand Ltd.’s investment-banking unit, said from Johannesburg on June 2. The Eurobond market, which Nigeria may tap for as much as $1 billion, is “an avenue of financing they’re in desperate need of. It’s going to be a tough week for the finance ministry,” she said.


How can we be desperate after recovering so much looted funds ??

https://www.proshareng.com/news/All%20One%20Min%20News/Nigeria-in-1min--Economic,-Business---Financial-Headlines-%E2%80%93-060616-/31288

May God bring peace to our country

God protect us

http://www.reuters.com/article/us-usa-safrica-idUSKCN0YQ0GU

The United States warned its citizens on Saturday of possible attacks by Islamist militants on U.S. facilities or shopping malls in South Africa during the upcoming month of Ramadan, but the South African government said the country was safe.

It was the second such warning in under a year from the embassy, which issued a similar alert in September in a country that has a significant expatriate and tourist population but has seldom been associated with Islamist militancy.

The U.S. embassy said up-market shopping areas and malls in the commercial hub of Johannesburg and Cape Town, widely regarded as South Africa's tourism capital, were the main target areas in the suspected planned attacks.

"This information comes against the backdrop of the Islamic State of Iraq and the Levant's public call for its adherents to carry out terrorist attacks globally during the upcoming month of Ramadan," it said in a statement posted on its website. 1.usa.gov/1UkdY8R

Last month, a new message purporting to come from the spokesman of Islamic State called on followers to launch attacks on the West during the Islamic holy month of Ramadan, which begins in early June.

The Avengers, on Friday, attacked Shell Petroleum Development Company’s Forcados 48, Export line and the Brass to Tedibaba crude pipeline in Bayelsa.

Also, the Avengers, in a tweet Friday afternoon, warned an oil company, Agip, not to repair its damaged pipelines.

“We are sending this warning message to Agip not to commence repair works on any of the blown pipelines in Bayelsa. We will make you regret if you even dare us,” the group said.

The militant group claimed responsibility for the attack on its Twitter handle.

“At 3:00 a.m. today @Niger Delta Avengers blew up the SPDC forcados 48, Export line. We warned SPDC not to go ahead with repair works but they refused,” said the group.

It had on Thursday claimed responsibility for the bombing of pipelines conveying crude oil from Ogboinbiri to Tebidaba and from Clough Creek to Tebidaba. The two pipelines are located in Bayelsa State.

“At about 2.00 a.m. today @Niger Delta Avengers blew up the Ogboinbiri to Tebidaba and Clough Creek to Tebidaba Crude Oil pipelines in Bayelsa State. This is in line with our promise to all international oil companies and indigenous oil companies that Nigeria’s oil production will be zero,” the group said on its Twitter handle.

A top military officer at Forcados at the time of the destruction confirmed the incident, saying it was another trying period for the company, which only recently carried out repairs on it.

“The blast was deafening. It sent jitters down our spines. We thank God there is no casualty,” the source noted.

The Head of Research, Ecobank Plc, Dolapo Oni, stated that Nigeria’s oil production had suffered a deficit of record 1.01 million barrels per day, raising the revenue losses by the country and the IOCs to N14.1 billion ($49.5 million) daily.

If the government is to be believed, the country is losing 600,000 bpd which is equivalent to N8.4 billion ($29.4 million) daily. On the other hand, going by the claims of the NDA, the country is losing 1.4 million bpd which is equivalent to N19.5 billion ($68.6 million) per day. The above calculations were based on N285 to $1 and crude price was based on $49 per barrel.

Nigeria’s quota from the Organisation of Petroleum Countries (OPEC) is put at 2.2 million bpd. This means Nigeria is allowed to sell officially 2.2 million bpd at the crude oil international market.

According to a source at one of the loading terminals who pleaded anonymity because he wasn’t authorised to speak to the media, “production is not as low as it was in 2008 when we were producing at about 700,000 bpd. But the activities of the NDA are taking their toll on the country’s output.”

Oni argued further that the crude production in Nigeria, hitherto the biggest crude producer in Africa, had now dipped to about 990,000 barrels per day.

In a more drastic estimate of the economic implication of attacks on oil and gas installations, Oni, according to Reuters, said: “Between pipeline repairs and militant attacks, Nigeria is probably producing no more than 990,000 barrels of oil every day.”

A government source expressed worries to Saturday Tribune over the spate of attacks on the pipelines and the effect on the 2016 budget.

“Two months from now, the effect will be known. What we are sharing now is money that accrued to our accounts about three months ago when there was relative stability in the oil sector. So, the effect of these militant activities will be known in August. It is very worrisome.

“You know those militants have almost crippled the oil industry, destroying an average of two major pipelines per day. By next month, states that will be able to pay salaries may not be more than five,” he said.

Vice-President Yemi Osinbajo, during the week, put Nigeria’s output at 1.6 million barrels per day (bpd) while the Avengers claimed they had reduced Nigeria’s output to 800,000 bpd.

http://www.tribuneonlineng.com/attack-on-oil-facilities-fg-panics-as-nigeria-loses-n144bn-daily

The NDA has vowed to ensure that crude oil production is brought to zero level in the country until its demands are met.

Buhari was believed to be seeking Jonathan’s help to bring the crisis to an end and spare the nation’s economy of unwarranted damage.

In an apparent move to prepare the ground for this meeting, the president had in recent days been speaking glowingly about the former president whose activities in office have been the subject of investigations by the Economic and Financial Crimes Commission (EFCC).

Buhari had engaged in praising Jonathan over the defeat concession phone call the latter made to him before the final tally of the 2015 presidential election result was known.

President Buhari also, on Friday, hosted former President Olusegun Obasanjo to a secret meeting at the Presidential Villa, Abuja.

The meeting, which took place inside the president’s office, lasted for about 30 minutes.

http://tribuneonlineng.com/weve-reduced-nigerias-2m-crude-oil-export-to-800000-barrels-avengers-%E2%80%A2deny-killing-of-soldiers

This is just as the group has hinted that it has been able to dip Nigeria Oil production from 2 million barrels to just 800,000 barrels per day without shedding blood.

The group denied its involvement in the attack in a statement signed by its spokesperson, Brig. Gen. Mudoch Agbinibo, and posted on its website late Thursday night.

It stated that its modus operandi does not include snuffing lives out of "sleeping soldiers," saying it would keep to its promise not to shed blood in the process of liberating its people from the shackles of the Nigerian state.

"The Niger Delta Avengers were not involved in the attack of the Military houseboat around Warri, Delta State.

http://www.zerohedge.com/news/2016-05-31/us-state-department-issues-european-travel-alert-warns-terrorist-attacks

As part of the State Department’s continuous efforts to provide Americans travelling abroad with information about relevant events, we are alerting U.S. citizens to the risk of potential terrorist attacks throughout Europe, targeting major events, tourist sites, restaurants, commercial centers and transportation.

The large number of tourists visiting Europe in the summer months will present greater targets for terrorists planning attacks in public locations, especially at large events.

This Travel Alert expires August 31, 2016.

If we dont act fast, a hurricane if economuc problems will engulf us

With this the 2016 budget has failed

These continued attacks by the NDA has crippled oil production and export operations, pushing output to more than a 21 year low, forcing Nigeria to lose its status as Africa’s top oil producer. And things could get worse. With total production losses currently estimated to be around one million bpd, being Africa’s number one oil producer should be the least of the country’s worry, as it is gradually losing its spot as a major player in the global oil market all together.

Currently, three Nigerian crude export grades – Forcados, Bonny Light, and Brass River – are under force majeure as a direct result of the attacks by NDA. This has led to a decline in the supply of gas, resulting in a loss in production capacity for most of the country’s power plants. For several months now, Nigerians have suffered epileptic power supply, and total blackouts. These attacks also means less revenue returns for Nigeria, whose primary export product is oil.

Last Thursday, the federal government and the nine states of the Niger Delta region agreed to jointly raise a security team, which would be made up of ex-militants, to curb growing militancy. In this meeting, the Minister of State for Petroleum, Dr. Ibe Kachukwu, called on state governors in the Niger Delta region to be actively involved in providing lasting solutions to the resurgence of pipeline vandalism.

The NDA have proven themselves to be very effective in their attacks on major oil facilities in the Niger Delta, and have shown no signs of backing down. If they are allowed to continue at this rate, then it’s safe to say the country is pretty much doomed, especially as they have restated warnings to oil firms to shut down operations or face more devastating attacks.

Surely, something more urgent than just a meeting needs to happen at this point.

These continued attacks by the NDA has crippled oil production and export operations, pushing output to more than a 21 year low, forcing Nigeria to lose its status as Africa’s top oil producer. And things could get worse. With total production losses currently estimated to be around one million bpd, being Africa’s number one oil producer should be the least of the country’s worry, as it is gradually losing its spot as a major player in the global oil market all together.

Currently, three Nigerian crude export grades – Forcados, Bonny Light, and Brass River – are under force majeure as a direct result of the attacks by NDA. This has led to a decline in the supply of gas, resulting in a loss in production capacity for most of the country’s power plants. For several months now, Nigerians have suffered epileptic power supply, and total blackouts. These attacks also means less revenue returns for Nigeria, whose primary export product is oil.

Last Thursday, the federal government and the nine states of the Niger Delta region agreed to jointly raise a security team, which would be made up of ex-militants, to curb growing militancy. In this meeting, the Minister of State for Petroleum, Dr. Ibe Kachukwu, called on state governors in the Niger Delta region to be actively involved in providing lasting solutions to the resurgence of pipeline vandalism.

The NDA have proven themselves to be very effective in their attacks on major oil facilities in the Niger Delta, and have shown no signs of backing down. If they are allowed to continue at this rate, then it’s safe to say the country is pretty much doomed, especially as they have restated warnings to oil firms to shut down operations or face more devastating attacks.

Surely, something more urgent than just a meeting needs to happen at this point.

God help us

“I have to reluctantly give up because the so-called Nigerian economists come and talk things to me, and when I raise issues they talk over my head instead of inside my head. For us to lose over N300 (every year we’re losing the value of the currency by N100), what for?

“I find myself in a very difficult state because the economists cannot tell me why we should continue to devalue our naira.

“I’m still agonising over it, that the naira should be reduced to such a disgraceful level over the last 30 years. I need to be educated on this.

“But I’m not ruling this country alone. I’m under pressure and we’ll see how we can accommodate the economists.”

“I have to reluctantly give up because the so-called Nigerian economists come and talk things to me, and when I raise issues they talk over my head instead of inside my head. For us to lose over N300 (every year we’re losing the value of the currency by N100), what for?

“I find myself in a very difficult state because the economists cannot tell me why we should continue to devalue our naira.

“I’m still agonising over it, that the naira should be reduced to such a disgraceful level over the last 30 years. I need to be educated on this.

“But I’m not ruling this country alone. I’m under pressure and we’ll see how we can accommodate the economists.”