₦airaland Forum

casualobserver:
That’s why when you jump on a users post especially one where he quoted someone, follow the trail of the conversation before responding.

BTW, Dangote wasn’t technically a succes because his purchase was reversed, though it is safe to assume it would have been.

Yes, I agree with you on following the trail. You make a valid point.

However, some of the firms you listed have more fundamental structural issues as to why they are not doing well.

The DISCOS can NEVER do well with the structure they operate in.
1. Tarrif regulated and not cost reflective
2. Massive electricity theft by citizens
3. Massive Debts owed by govt agencies

No matter the capital they bring, if you make losses constantly, the capital will be whittled down to zero!


Also Nigeria Airways was never privatized. It just died. I think same applied to Nigeria Mining and Coal corporation. They were not privatised, but died a natural death when we got hooked on easy oil money. What you are saying is more a case against government running business, not so much against privatization.

casualobserver:
Why do we have a problem of reading and not understanding what we read? Please show where I said it was bad! I said Obasanjo sold to people without capacity and this govt must not make the same errors.

Well your comment I quoted made it seem like Dangote is the only success in privatization. I have not read any provious post you may have made on the subject.

casualobserver:
Dangote was only 1. An exception to the rule does not nullify the rule. Over 400 govt companies were sold under Obasanjo. Even the BPE the agency that sold them later said only 10 are doing well. Most of them are moribund today after the purchasers stripped the assets and laid off workers.

Let me give you a list and you can tell me which ones are functioning


https:

That doesn't make privatisation bad. In most cases those companies had already failed to the extent that it could never recover.

Transcorp Hilton was sold by government and doing well.
MTN, Airtel and Glo came to take the spot of NITEl/Ntel and they are doing well
GTB, Zenith and co came to life during the privatisation of banking and they are doing very well. The govt banks like ABC, National etc have been subsumed by the private ones.
Schools reverted to their missionary owners are doing well.
Was Okomu oil palm not govt owned at one point? Now they are blowing on the stock market
Multiple govt cement plants have been sold to private sector and are doing well.
Geregu power plant was sold to Otedola, Afam to Elumelu and another to Davido father and they are doing well.
Indorama was formerly Eleme petrochemical and is doing wonderfully well

dre11:
FG mulls privatisation of Ajaokuta Steel, refineries, airports, 89 other enterprises




https://thesun.ng/fg-mulls-privatisation-of-ajaokuta-steel-refineries-airports-89-other-enterprises/?amp

This is the way to go. The only ask is that its done speedily and professionalyy. The reality is that the private secor has far more access to Capital than the Federal Government. When we privatised telecoms, the money invested by MTN alone in buying that license and setting up in the first 5 years, could not have been invested by the Federal Government in 20 years.

Funny enough, when Nigerians go to Dubai and say "see what Dubai government has done with oil money", they stupidly believe that all the skyscrapers they see are built by the government. Some are, but I can bet you like 50% are built by private companies to be leased as office space to hundreds of other foreign companies that are looking to establish an office in Dubai because there is business to be done there and money to be made. That is how development comes to a country! Not by expecting the government will build everything with oil money.

if you are open for business, private capital will build office buldings
if you are open for tourism, private capital will build hotels, clubs, bars, waterparks and other fun places.
if you are open for business and tourism, private capital will see the need to invest in your airports and ports

From these private capital, infrastructure develops and jobs are created.

Even EMAAR that is majority owned by the government, and built Burj Khalifa and many other buldings in Dubai, its not only government money that was used. If they want to build a portfolio of 10buildings worth $2bln, then will issue a bond to raise that money. And investor from around the world will invest because they beilieve in the economy and vision and because the economics of the project is sound.

But Nigerian visitors will go to Dubai and say Dubai government built ALL of Dubai with oil money.

We need to privatize ALL government assets and let private capital flow!!!

There is no need for FG to use scarce resources on:

1. The 4 international airports
2. Key highways in the country that can be profitably tolled
3. Ports
4. Power plants/Electricity generating companies
5. Office buildings in Abuja ( let private companies build and govt will do long term lease- helps to manage govt cashflow better)

dettolgel:
Who knows Okowa official twitter handle someone needs to ask him serious question. The man is unashamedly unashamed

Thats Nigerian government officials for you. Refusing to be accountable and take responsibility. Instead, they will try and gaslight you and confuse you and put their head in the sand.

jmoore:
22 hours electricity for your compound or Nigeria?

How can 180 million people enjoy 22 hours of electricity from paltry 5,000 megawatts?

I am sure you don't even know what is megawatts..

Its not just about population, but how much each person uses. How many gadgets and devices does a typical Nigerian household have in Nigeria compared to US.

Typical US Home - like 100million households
65inch TV (maybe 2 or 3)
Sound bar
Smart speakers around the house
Electric oven
Electric cooker
Microwave
Water heater
Huge Fridge/Frezer combo
Washer
Dryer
Central AC (particulalrly in the hotter southern states) - which alone is like 30-40% of annual electricity consumption

In Nigeria if 1mln houselholds have this, i'll be surprised.

Softmirror:
Most of our athletes are not home based. Even ofili is not home based.

True, but still when you feel at peace and valued, you will perform better. Not having to deal with NOC and NSC werey.

Maxymilliano:
Wishing you a successful career.

It is important to represent people who appreciate your efforts and know what professionalism means.

Goodluck

I can bet you by the time she has access to better funding and training facilities, her times will improve all the more.

Same way Francis Obikwelu who was not a reguler sub 10 100m athlete in Nigeria switched to Portugal and set European record of 9.86 which stood for 11years.

wellmax:
Her choice. But Turkey will always see her as a means to an end and she will be considered 2nd class and NEVER Turkish.

These are all things we say to make ourselves feel good. if you can eat better, live better, drive a nicer car, wear better clothes, have better healthcare, better education for your kids and live in a safer and saner environment, who cares about being second class or third class citizen.

Every part of the world has citizens of other countries. there are millions of Nigerians in UK and US. Same way they are hundreds of thousands of Lebanese in Nigeria and Millions of Indians in UK. Did anyone of them complain to you about being seconf class citizen?

Kemetian:
I knew part of the reason was improved electricity, and less need for generators.

Yeah. I'm sure it would have made a bigger impact on diesel sef.

At the worst of the electricity crisis in 2023 and 2024, my estate was using as much as 3,500litres a month. Now since we got on Band A from Feb1 this year, we are barely using 500litres a month. Same for every estate around us. So if I take just 5 estates saving 3000litres each a month, thats 15,000litres a month and 180,000 litres a year! So 50 estates could be reducing consumption by 1.8mln litres a year.

Now extrapolate for hundreds of other estates in the Lekki axis and companies and Banks in VI, Lekki 1, Ikoyi, Oniru, Lagos Island, Ikeja, Ogba, etc. Then expand across Nigeria.

ogododo:
https://www.vanguardngr.com/2025/09/petrol-consumption-down-28-pump-hands-idle-at-stations-2/

The article is uncecessarily long as we like to do in Nigeria. Reasons for reduction in petrol consumption are as follows:

1. Price - it has become unaffordable for many, so a lot of people have parked their cars at home to use only on weekends, while they use public transport during the week. This is more prevalent outside Lagos, Abuja, PH and Kano where most citizens are civil servants.

2. Improved electricity - lots of petrol demand was due to generator requirements. However, due to significantly improved electricity, the demand for petrol to fuel generators has dropped drastically.

3. Train service in Lagos - This has reduced petrol demand because a lot of buses hat would ply those routes now work less as the y take longer to load, meaning less buses on the streets and less demand for petrol. This will be more significant when the Blue line extension to Okokomaiko and the Green line on the Lekki axis is completed.

histemple:
Calabar alone has more than 2m

Whats even the population of the whole Cross River? I beg calm down

SonOfWords:
He declared personal income of 6.5 million naira in 2022, but by some stroke of magic his taxes for the very next year skyrocketed to over 230 million naira, how😂?

Did he gross personal income of over a billion naira the very next year to have attracted such a humongous annual tax?

He has been extra vocal in the political space lately, so Gbajabiamila and Wike have opened his book of retribution😭.

So where does the money for all his vehicles and properties come from Nigerians sef. Defending criminality and nonesense!

frog12:
no be zuma go sleep with him niece we get HIV?
the niece don die since from AIDS
how come zuma never get HIV after?

I hope you realise it's possible to have unprotected sex with a hiv+ and not catch it. It depends on the viral load, how vigorous the sex, they type of sex (vaginal or anal), whether you are the receptive (woman) or insertive (man) and a few other factors. The risk factor is higher for the receptive.

But of course if you have unprotected sex more and more with that person, chances get higher and higher.

Having said that's it's also possible to get it the first time around. It's not every infection you are exposed to that you catch in life.

budaatum:
Nigeria is surprisingly low if we consider per population, and I thought we'd be much higher considering how pigish many can be.

As piggish as we are, I think many in Nigeria really respect the use of condom, especially in the cities where people are more educated.

As sexually active as you think we Nigerians are, in South Africa sex is not frowned upon like here, In the shopping malls you'll notice many girls walk around without bra and pant. And if you stop girls to talk to them casually, they will stop and talk to you and exchange numbers and you'll be surprised the two of you will be having sex by the next day or same evening. For them sex is just part of having a good time, the same way we like to go to joint/bar/lounge to have a good time.

cathodekazim:
Absolutely marvelous. Despite the poor pay women footballers receive, she was able to achieve this.

It's really the grace of God

Even if she received $5k per week in her club, that's still a lot of money in Nigeria o.
That's N7.5mln a week of N30mln a month. If she dedicates N10mln a month to this construction, that's N120mln a year.

DrMB:
Why does Nigeria’s interest rate soar at 27.5% while Morocco barely nudges 2.25%? What drives such stark differences across African economies, policy choices, inflation, or external pressures? How do these rates shape everyday life, from loans and mortgages to business growth and investment? As central banks across the continent adjust their monetary levers, understanding the story behind the numbers is more urgent than ever.


https://x.com/StatiSense/status/1960026601959166069

Reasons:
1. Poor Overall economic management
2. Corruption - causes too much money in the system not being productive, necessitating high interest rates
3. Huge deficits, means too much money in the system, for which the solution is high interest rates
4. Ways and means - printing money always causes too much money and inflation, for which the solution is high interest rates
5. Non diversification of the economy - relaince on crude for forex and falling production and prices meant forex shortages and to attract FPI, we needed high rates
6. High interest rates in America meant we needed to raise ours to compete for forex inflows via FPI

bixton:
I am not one who solves problems by creating bigger problems to impoverish the people and turn back and blame the people for the problems not caused by them.

The foundation of true progress is in standing on the truth and working through and not half truths and web of lies intertwined to deceive the gullible.


You have not responded to my question.

Why is the minimum wage not a cost reflective or market reflective of the present day economy as created by the government?

Your question on minimum wage is a different matter all together. It doesnt make the decision to remove those subsidies wrong. Thats why the people should then come together to demand better government, instead of hobnobbing with politicians.

besides its difficult to pay cost reflective wages because the civil service is also overbloated. If they say they want to sack 30% and double the salary of the 70% remaining, you will still say no. So lets continue over employing and underpaying.

oluayebenz:
This people will finally kill our naira completely.

Why not just find permanent solution to the exchange rate to improve our purchasing power.

Salary increment is never a solution.

Does this people read economy at all?

Oga calm down. While civil servants are too many, but still in the grand scheme of things, how many are they compared to the working population?

Civil servants in Imo State are probably not up to 3% of the working population of that state. Is it the extra N40k that will cause inflation? If you are looking to the cause of inflation better look at the N22TRLN ways and means and N15TRLN budget defict as culprits.

This idea that marginaly raising salary increases inflation is a bit outdated. Besides in 2023 before there was even the salaryincrement from N35k to N70k, didn't inflation rise massively? So what was the cuase of that one??

There are many other factors that impact inflation more heaviliy than minimum wage, so let the civil servants breathe!

Clearly your own knowledge of economics and the key drivers of our economy is fairly limited!

DrFunmisticGlow:
Is that 582k before or after tax?

That's the real question

Before tax of course? Where in the world does any one annouce a net salary figure? isn't it always gross!

In any job you've done, did they tell you your salary was the net figure?

bixton:
It is this no sense educated illiterate analogy of price of fuel to power home appliances and rate of power from power companies that is been sold to everyone who picks rubbish for knowledge.


Those persons who always compare the price of utility in the USA/Europe as against Nigeria, do they have the same standard of living and livelihood?

Do we know anyone in those foreign countries who can't afford such in well developed cities or suburbs as we have in Nigeria?



The Nigeria of the '80s even looks better than what we have now...!!!!

What concerns his post with USA or Europe! His post makes sense!

Scenrio1: Band A for 23hours
Scenario2: band D for 5 hours and suplemented by petrol gen for 18 hours.

If you do the mathematics in a month, you may find scenario 1 to be cheaper.

AntiChristian:
This one na lie! It's a big fat lie.

I just came back from the villa and the electricity was epileptic. They get one day off and two days on! And those two days on for electricity the electricity won't be constant for those two days!

And what is paid monthly no reach 10k!

For band A in the city you pay approx. 225.21 per kWh, VAT inclusive!

He didn't say ALL rural areas!! he said rural areas where they have implemented mini grids!! Simple comprehension.

iwaeda:
Please what will Petrobas do that, Nigeria indigenous Oil and Gas are not doing. Hope Nigerians will manage the company when it returns.

Petrobras has capabilities in Deep Water which is where our local companies do not operate.

Why must Nigerian's manage it. Don't Nigerian banks also send Nigerians to other countires where they open branches?

drstranged:
Inasmuch as I quite admire a lot of the policies of President Tinubu (at least he's way better than Buhari), where I have serious problem with him is the way he condones extreme corruption and impunity especially amongst a lot of his cabinet members and politicians. I always tell people that there are only two persons currently that I would consider voting ahead of Tinubu if they decide to run, and that's GEJ and Peter Obi. I'd prefer a Tinubu over Atiku a thousand times over.

GEJ ke! Guy for real? I beg talk another thing. No need to go back to our vomit.

naptu2:
Previous thread:

Tinubu In Brazil: Air Peace To Begin Direct Flights To Sao Paulo
https://www.nairaland.com/8505959/tinubu-brazil-air-peace-begin

We have lots to benefit from Bazil if we get the cooperation going well.

1. We could leverage on their aviation industry to improve our capabilities with drones, which we need urgently for security now.
2. brazils beef industry is worll class. We should cooperate with them to set up ranches in middle belt states of Kwara, Northern Oyo, Benue and Kogi and the northern highlands of Adamawa, Taraba, Gombe, Platueu, Nasarawa and Bauchi.
3. Small weapons development for our police

iwaeda:
https://punchng.com/broke-retired-players-should-be-jailed-ideye/

They shouldn't be jailed, but they have no one to blame but themselves.

However NFF should engage local and international investment firms to organise financial management training for all players in the National Teams. In fact they should start from U17, so that they know the basics even before earning big.

Even if at age 20 and earning a net salary of £20k a week, if you set up automatic deduction of £5k a week, that's N572mln in a year.

Invested at NGN 2045 bonds for 15% and compounded till maturity, that's N4.6bln waiting for you in 15 years.

Do the same in USD at 4% and that's $608k waiting for you.

dollytino4real:
If u don't have to spend mind ur prick and keep it in ur trousers,

Nowhere did he say that the hang out involved a female!! The guilt of the female folks clearly haunts them!!

Lanrelagboi:
https://theguildng.com/lagos-govt-unveils-cultural-weekend-to-scale-up-investment-drive/

This is all well and good. Lagos likes to do the big projects, but should also focus on getting the little and simple things right!! Funny enough, these things impact the life of the citizens much more.

1. Functioning street lights across the city
2. Functioning and smart traffic lights across the city
3. Rapid repairs of potholes across the city
4. Scheduled and consistent desilting of drainages around Lagos, particulalry in the Feb to May period, before the rain gets heavy.
5. Efficient removial of filth and garbage in the city
6. More efficient transport system with intermodal BRT type buses, water and train.

Just do these and do them very well, and the lives of the citizens will be made much easier. All these plenty other activities they are doing do not help the people.

TimeManager:
https://www.vanguardngr.com/2025/08/tinubus-state-visit-nigeria-brazil-to-sign-mou-on-direct-flight/

Is there that much demand to fly direct from Lagos to South America!? Anyway, when the supply is there, sometimes the demand will come.

Apart from direct flights to Brazil, it enables Brazil to become a hub for connecting flights to the rest of South America.

At some point I plan to vist, Argentina, Brazil, Colombia and Chile. Also possibly Uraguay

DeLaRue:
Mr Adenuga simply can't cope with the level of investment required to upgrade Glo's systems across the country.

It requires several billion dollars, which one single individual can't deal with, unless you are Dangote.

I am surprised he is holding on so tight to a Glo that is collapsing instead of inviting a foreign investor to take a 49% stake in the company.

He is very close to France, so France's Orange phone will be an ideal partner.

Better to own 50% of a thriving company than 100% of a failing company.

Nigerians don't believe in that. The want to be undisputed owner!

RhinoChest:
What the government should do is upgrade Band A customers to a new category called Band A+. Customers in Band A+ would be guaranteed 24 hours of uninterrupted power supply and would pay an additional fixed charge—for example, ₦10 per 24-hour cycle—on top of their normal tariff. This fixed charge would only apply if the distribution company actually delivers 24 hours of uninterrupted supply. If they fail to do so, the charge should not apply and should instead roll over.

Furthermore, if Band A+ customers experience an outage longer than one hour (excluding faults from the National Grid or TCN), the government should impose penalties on the distribution company—for example, fines of ₦10 million for every hour of outage.

Band B customers should be upgraded to Band A, while only Bands C and D should continue to enjoy subsidy temporarily. This will cut the amount of subsidy significantly and cushion the effect of all these economic reforms on the very poor.

I have what I think is a better idea.

In all likelihood 50% to 80% of the electricity consumed in Nigeria is probably already by those in Band A. This is because what one Band A individual in an upper middle class estate in Lekki consumes may be what an entire street of room and parlour in Oshodi will consume.

So if the current band A price of N209 is cost reflective, let the first 100Kwh purchased in a month be at N100. Above 100Kwh to 999Kwh in a month will be at the cost reflective price of Band A, which is N209. Then those who use above 1000Kwh on a month pay N250kwh.

Those on the high tariff of N250kwh for consuming more are then effectively subsiding the lower income folks who don't use much electricity.

If someone is truly poor or vulnerable, he shouldn't be using more than 100kwh in a month.

I am a upper middle class person with 6 split ACS in my house, though only one or max 2 will be on at a time, 43inch TV, microwave, oven, large fridge and freezer, deep fryer etc and I'm only using about 500kwh a month.

Great100000:
Source: https://www.zikoko.com/money/cheapest-unlimited-internet-plans-nigeria/

My provider is Broadbased Communications..Fibre optic to your home for N27k for 30Mbps. Quite a few downtimes a day, usually lasting for a few minutes to like 10minutes. But zero data cap.