COMPAQ's Posts
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i really dont get the logic of these NASS members most times. This morning the news credited a statement to Lawan as suggesting that the interventions for covid 19 were not getting to all the states and that all the states should benefit. How is a state with no case of covid 19 and that is not even on lockdown expect to benefit anything?? What is it benefiting for? Does he think the money is just being shared for sharing sake!? It's to fight a pandemic and if you have no pandemic, why would the FG share to you. Even Rivers state that has just 2 cases and does not have anywhere near the population and more importantly population density of Lagos is making so much noise and crying more than the bereaved. Lagos is spending resources contact tracing tens of thousands of people, has probably 1000 times more artisan type daily earners than Rivers state and yet Wike was shouting all over the place. State resources (such as security vote ) should be sufficient to at least get a 50-100 bed isolation center up and running in preparation. Its not even like the people is his problem, just the money to be received from FG and ultimately stolen - that's what he's interested in. |
There is not a time in the last 5 years that an official of the Ministry of Petroleum or NNPC has not said that the refineries are being rehabilitated or that Turnaround Maintenance is ongoing? Why are we in a perpetual state of refinery repair!!? Doesn't it ever end! |
TundeBricklayer:I agree that Nigerians are poor, but with the amount of times this has caused deaths, I no longer feel pity for these guys if they all go up in flames because they should know better. |
Patrioticman007:I don't think so. There are conditions for developing the licences when they were given out which haven't been met. |
Looks very cramped. Isn't that also a risk factor? And no air conditioning! In KANO!!! ![]() |
If the Federal government is serious they should boldly come out and announce the deregulation of the petrol importation and pricing. This sneaky way they are going about it shows a lack of courage. In fact this is the best time to announce it because of the lock down. NLC won't be able to come out . But if deregulation is announced today and marketers take over the price of petrol should actually fall to about N100. As it is now FG is over recovering to earn extra income.Funny enough though crude oil prices have been low for about a month now and diesel is still likr N210. What's going on? |
NoSidonLook:I agree. I think it's just an opportunity to make an example of Naira Marley. In fact arresting Funke and her husband was for the same reason. And to be fair, it will actually work because they are celebrities and it will trend and suggest that the government is very serious about it. |
etokhana:This initiative doesn't make much sense. So people who have no knowledge of road maintenance and construction will suddenly start doing road repairs and building low cost housing?? This is just a silly attempt by semi-illiterate leaders to throw money around to be seen to be doing something. So will these guys be permanent staff? Will they be pensionable? Or will they be short term contract staff - say 3 years duration? At the end of the day most of these people will just be getting paid and doing no work, because there will be no money to do the actual work they were employed to do. Even the existing staff of the civil service of Nigeria are among the most unproductive staff worldwide. How civil servants have TV in their offices and say they are working beats me. We need a more structured approach to economic stimulus, that is designed to achieve specific objectives backed up by economic models. And not this nonsense we are doing all over the place that doesn't seem to complement one another. |
kemzy036: |
GamalNasser:So what exactly is your point with this plenty analysis? Bottom line it was either an intended or unintended explosion. And I don't think anyone intends to blow up a road in the middle of nowhere. Whether it was dynamite o or any other type of explosive point is that it must have been an error. |
Reality is that if we must move forward in this country, Hard economic decisions need to be taken. Now may not be the time to take all of them, but take them we must. Unfortunately, Buhari due to his military upbringing and age is the socialist type of leader that believes the government should do everything. That might have been okay in Kuwait or Saudi or Qatar or Norway, but Nigeria is too damn poor for that. For those of you who think Nigeria is rich, I tell you, we are a damn poor country. Potential and reality are two different things. Let me put it in perspective for you. Nigeria: population 200mln, production 1.9mln barrels Saudi :population 32mln, production 10mln barrels UaE: population 10mln, production 3mln barrels Norway: population 5mln, production 2mln barrels Qatar: population 2.6mln, production 2mln. And ALL these countries earn a bit substantially from other sources. Naija na only oil. Some hard decisions we need to take: Derugulate Petroleum sector Ensure proper pricing of electricity to enable the sector grow and power Nigeria growth. Significantly reduce the wage bill by reducing workforce by say 30 to 50% over 5years by combination of privatisation, retirement, redundancy, but pay those remaining significantly more I. E minimum wage of say N150k, but limited increases for higher cadres. Switch from a socialist system to a capitalist system. Encourage massive foreign direct investment. Privatise/commercialise a number of government agencies to ensure private sector investment, efficiency, innovation and reduce the wage bill. Good areas to privatise are international airports, the railway corporation, NTA, Nigerian ports, national stadiums, national arts theatre and many more. |
I just saw an info graphic that suggests that in 2009 Nigerias external debt was $4bln. Now its $29bln!! Can anyone identify for me what projects worth $25bln have been executed in Nigeria in the last 10years I do not see where that money has gone. |
Clamouring for removal of VAY in my view is just pandering to the masses for popularity by Tinubu. If everyone is at home and not spending much money, what vat are we incurring? If businesses are shutting down production and not buying inputs, what Vat are they paying? Also Nigeria needs all the revenue it can get right now. With crude at $25,tax income becomes more relevant and you expect the government to give that up?? But you all expect salaries to be paid right? Whislt mismanagemt by previous and current government has brought us to where we are, knowing that as a fact doesn't help our situation going forward. As we accountants will say, that one is "sunk cost". We can only make decisions for our tomorrow based on our reality of today. |
AgentNairaland:Yes o!!! Please ensure you add beans to it!! |
Lagos seems to be shutting down and people staying at home. This is a map of traffic in Lagos on the VI/Lekki axis. Green all the way!!!
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Would it not have been better to use Tafawa Balewa Square. |
I don't why the Nigerian government always takes offence for what is a non issue. If Kyari or Buhari has corona virus, what is the big deal. Are they any better than Boris Johnson who also has it? Or Idris Elba or Mikel Arteta or other world leaders and VIPS who have come out openly to say they have it? Instead of working on appropriate responses to the virus and its impact on our economy they are chasing Sowore up and down. Shame on Buhari government. |
NaijaRoyalty:Unfortunately due to mismanagement of nigeria by past and current leaders, we can't afford to do that. We don't even have the database to process it even if we could magically afford it. The American version is being processed on the basis of data from tax returns. How many Nigeria who don't have jobs in big companies file tax returns? So we can't eat our cake and have it. We don't mind that we are not forced to pay tax, but you want a benefit that comes from paying tax!! Same mentality we have on petrol prices. Crude crashes and we make noise that petrol should come down, but when crude goes up we say NLC should protect the masses and not allow the price to change. Do you want deregulation or not?? |
oboy81:The difference between Buhari and Osinbajo in terms of intellectual capacity, will to get things done, understanding of economic policy, emotional intelligence and more is like night and day. |
To be honest I won't mind if Buhari and Kari both catch the virus and are taken out by it. At least that way we'll get a proper president in Osinbajo. |
House of reps members dey fear to go isolation center!? Make dem go first, stay 2 weeks, see as e be! |
Officialgarri:Don't mind them!! |
I need this service. Please buzz me on 08025013357 |
seunlayi:Don't be silly!! Deliberately allowed what!! |
kelvincoll:That is why the damned thing should simply be deregulated to avoid this sort of thing. The reality though is that they have a point and have done nothing wrong. In my short time in the US, I have observed that when prices rise, petrol stations adjust prices upwards quicker then when prices come down. |
tete7000:This might cruelly have been a sensible alternative. However for me, they should just simply deregulate the market. |
obailala:You got it spot on. The FG missed a golden opportunity in 2015 and they are throwing away another opportunity now. Instead of announcing a reduction in pump price and fixing the price, it should be announcing a complete deregulation of the market. The truth is that as with the subsidy regime, this reduction benefits the middle class who have cars more because transporters will likely not reduce bus fares. They will just pocket a higher margin. And what happens if crude should hit $65again? Does the price go back to N145? Or does it go to the commensurate price of N200? The FG should deregulate the damn thing and let the significantly higher efficiency of the private sector take over. When did we ever have a fear that diesel would be scarce. It was not possible because its a deregulated product. Since kerosene was deregulated, I have not heard of it being scarce! This is a stupid political move meant to pander to voters. We need a government that can take the hard decisions for the Long term benefit of the country. |
GamalNasser:I think what he means is deregulate now (remove subsidy), so that when crude prices recover, the price of petrol will be determined by market forces, like diesel which i support. Crude is slowly becoming valueless, yet we waste it on the middle class with their 2 and 3 cars. If you dont have a car, you benefit like 5% from subsidy. But if you have a car, you benefit like 80%, so its clear that its the middle class that benefit. |
valarmorghulis:i was going to say that most of the destroyed houses didn't look like they were burnt. |
For once I agree with FFK!!! Public electricity does not work not because we use generators!!! We use generators because public electricity does not work!!! All these arguments that there is a cabal of generator sellers that does not allow electricity to work is false. Electricity does not work because we have a useless, corrupt, incompetent government with zero will to get things done!! |
if you guys expect petrol prices to drop, why are you then so against complete deregulation, which would have ensured a price drop? If FG has been subsidizing Nigerian's when the going was good, then Nigerian's should subsidize FG now that the going is bad and FG has significantly lower revenues. If I were the FG, I wouldn't reduce any price!! It's either we want deregulation or not!! There should be no eating the cake and having it as well. As for diesel, it will come down in a few weeks. There is usually a few weeks lag between international price reduction and impact on the pump here in Nigeria because we import. Last time when crude prices crashed in 2015, diesel dropped to as low as N150 per litre. |
tot:True, but no country should be borrowing to fund education and health. Do you borrow to pay your school fees or clinic visit for your kids? I doubt it! But you can borrow for business or to build your house. |
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. But if deregulation is announced today and marketers take over the price of petrol should actually fall to about N100. As it is now FG is over recovering to earn extra income.
