₦airaland Forum

ChineduEZ:
[size=35pt]IS THIS POLITICAL ??[/size]

Could be ,

Could also be a marketing strategy considering the nature and volume of chelsea products being consumed, or that can be consume in African / Nigerian market.

Kobojunkie:
Technically, the man is not here making any promises. He is simply saying what every Nigerian says about most everything, [size=13pt]IF[/size].

Agreed.

And if their plan works, it is possible that Nigeria can generate 20,000 MW within 4 years. The man is not saying we Nigerians have to pay for this. What they're going to do is create conducive environment for PPP to thrive, so that investors both foreign and local can provide the resources (financial, human) needed to achieve the so called power generation and distribution objectives.

Nice indeed!!! Very well articulated.

MetalGong4:
Another side of the story . . . . I support this version.

Are you serious? You support this?

I hope this is not another propaganda from this state own company to elicit favors from the federal government, and at the end leaving us with nothing. China did this back in 2004/2005, promised to erect refineries and railway system, and they got away with juicy oil blocks. At the end of the day; no refinery, no railway. I hope our leaders are wiser now, and will not fall for such speculative move.

My original argument was premised on what i think is necessary to move the country forward, and that is good and credible election. I believe this should top Jonathan priority list, higher than power (because it’s difficult to achieve power issue within a year). If we want good and credible election that can elect disciplined mind, disciplined era, and we understand what the stalemate was in the past. Why not strife and make sure we put first thing first, institute necessary plan (that is debatable) and enough resources that will ensure that credible election. If 10,000 naira is needed to organize, construct quality election, and we shortchanged the course by 1 naira. We've already flawed the election from the beginning. Please, understand that i am for scrutinization of public spending, and as a matter of fact i believe constructive criticism bring the best out of people (public officials). But we have to get our priority right, understand what it is required to do the job, ensure quality election, and not just election. Some people don’t want credible election to take place, and they are ready to thwart any credible and viable option laid down just to ensure their will takes precedence. I’m not saying the current plan laid down by Jega is perfect, or not too over bloated in any way, or does not need to be scrutinized … but while arguing, let’s understand what is at stake and what is necessary to achieve that objective.

Kobojunkie:
WOW! so, you have somehow summiced that the reason why the past 10 years has been an abysmal failure is because "the people" who have had NO VOICE OF THEIR OWN FOR ALL THAT TIME, were not supportive at all?
WOW!

Ghandi Said "be the change that you see in this world today", if you have an opportunity to voice your opinion or make a change that you believe in and you did not,  the result is wastefull spending, low quality project. Some people had the chance, and they said nothing. 

Kobojunkie:
Does one now need to be able to accurately predict the future BEFORE one knows to take precautions today? WOW!The "NOBODY IS PERFECT" excuse again? eeeeekkkkk!!a) Have the presenters of this idea CONSIDERED risk MITIGATION according to your knowledge of the plan? YES/NO please!

I support precausionary measure today in respective of what the future holds. Are you perfect, please do tell us? That you have find out for yourself

Kobojunkie:
Oh! I am definitely ready to critique their plan but where is the plan? IS THERE A PLAN? YES/NO

According to Jarus's link, there seems to be a plan. Read the article

Kobojunkie:
a) Projects that are seen to be of HIGH RISK to the STAKEHOLDER but do not consider ways of cushioning the stakeholders in anyway NEED TO BE TERMINATED as they are usually considered, what's the word, not worth the investment.

Is that your recommendation. Do nothing to prepare for next election?  WOW!!!!!!!!!!

Kobojunkie:
It makes no sense to a nation to a nation to invest $16 Billion to fix power problems if there are no solid plans in place to ensure the success of such goals. We already know this is a fact. Why would you, or anyone else, sanction such an action in futility yet again? It makes more sense to take time to draw out a plan that will benefit us even 40% or more this time around. Not jump hastily into another failure.

Who said they haven't taking the time to prepare the plan that will benefit us? Expensive may be, you want quality you have to pay for it.

Kobojunkie:
[quote author=Kobojunkie link=topic=493967.msg6543613#msg6543613 date=1281391461]Please, in our bid to sound as HIGH AND MIGHTY and PATRIOTIC as we can, we need to be sure that common sense is not allowed to fly out the window while we sit basking in our new found glory for self.

People can always agree to disagree. There is no need for bashing of any sort, and I will not go down that road with you.[/quote]

rebranded:
Fashola will be Ribadu's running mate, so definitely he will win south also, and north wants to retain power so will vote him, this is a chance for AC to takeover power from PDP. PDP has gone against the zoning in their constitution and given a good chance to other parties to present a northerner, north will do everything to have another 4yrs. Ribadu can give AC the presidency

How do you know? Source

Kobojunkie:
Please quit with the bull . . . they complain because there is really a reason to complain. If we had saved all the money we have allowed to go to waste in the last 10 years alone, there will be more money to spend today or whenever we get our act together. 
Rather than attempting to turn this into some US vs. THEM bull, can we please get over our personal ISSUES and deal with/tackle reality as it truly is?

Nobody in this life has the crystal balls to forecast the future. May be if the people have been more supportive in the last year 10 years, all those funds would have been well spent. There is no other way to look at it, whatever concerns Nigeria should be personal to all of us.

Kobojunkie:
Why should I or anyone else not involved in this project do that? THINK! THINK!!THINK!!!  At this point, don't you reason that it makes sense for EVERY project put in place risk mitigation steps to curb frivolous spending, and those that do not have it in place be terminated immediately until that is taken care of? Why require the layman to now take it on his/herself to do that when he is, and remains a bystander who has continually been ripped off by the system?
THINK, THINK, PLEASE THINK!!!

Someone presents a proposal and rather than ensuring that the proposal presenter consider risks and present you and everyone else with plans in place to curb risks, you are here urging that those who do not support the project do that? AAAARRGGH!!! lol

Look, the fact that you agree, and even indicate that there is a HIGH(note: not low or even medium, but HIGH) probability of the same situation repeating itself needs to get you wondering if Jega has a risk mitigation plan in place. If not, you ought to be ought there yourself saying no to this unless such is in place, rather than coming on here to tell others how to complain or not complain of this.

The outcome concerns you, me, all of us and that’s why you should be part of the risk mitigation. Nobody is perfect, and people in charge of these projects are not perfect. They’re prone to leaving one or two things out. That’s where experts, people knowledgeable about the industry come out to offer their own opinion and fill the void. Sometimes CNN, Bloomberg, CNBC extends invitation to experts and get them to analyze and offer insights covering numerous US economic policies so that policy makers /authors can take notes. Similar things happens when experts open blogs, forums to discuss and debate economic policies, regulations et.all  Guess what, we’re also doing the same thing and you don’t know who is reading this site.

I’m not suggesting presenters of ideas should not consider risk mitigation in their proposal, it is part of their job to offer every necessary details required to get the job done. What I am saying is that we should be ready to critique their risk mitigation to ensure successful delivery of the proposal, assuming the proposal meets and addresses yearnings of the people.

Why should those projects be terminated? Some of these projects; if not implemented today, may cost more tomorrow, or it is even possible that tomorrow may be too late.  What is needed is adequate public awareness and support to realize benefits embedded in such projects.

Kobojunkie:
I disagree with this assertion. It has never really been the case that we are unwilling to pay for better. What has been the problem is we have paid so many times over for this and it makes sense to be weary of making the same mistake . . . we want to be sure that this time we get it right.

It is common to majority of Nigerians, even if the spending is well justified and they are getting more than their money's worth. They’ll still be complaining that the spending is too much, just because they are spending all that money at once rather than saving it. Rather than critiquing and recommending how the funds can be spent judiciously without sacrificing quality, they are ready to kill the spending and impede our progress in the name of corruption. While I do agree with you, there is a high probability of the same situation repeating itself. Why not argue that certain risk mitigation be put in place to curb frivolous spending and focus on value added spending that will cater to the end result.

naijacutee:
If all else fails, (which I hope it doesn't), one of the only (legal) ways of debt cancellation which I know of is filing for bankruptcy. When a person is declared bankrupt by the court, all their debts are wiped off and they have to start on a clean financial slate. Otherwise, I think they would need to find other ways of coming up with the money.

When the young chaps were going into the business partnership, did they have a back-up plan, or an exit strategy? If they did, this is the time to pull the trick out of the bag. Can they sell the failing business to an existing business which needs to expand into that area or something?

walcolm:
You must become penniless to qualify legally for bankruptcy!

1. you must be able to show negative balances in your accounts, you must not have a property or other assets in your name or
2. the value of any asset you have must be significantly smaller than your indebtedness such that when the assets are disposed of at the best prices, you will still be indebted beyond your capacity to pay back. usually, the court will grant your lenders rights to dispose off the assets and then order your debt to be written off.

Do we have such bankruptcy law in Nigeria? And if we do have such law, how long does such preceding takes before it reaches finalization. At the end of the day, when you add up the cost, time, logistics, you'll be better off just handing over the current asset you pledged as collateral.

I'm not saying politicians will not embezzle these funds or not. But if we want free and fair election, we have to give the organizers enough resources to do their job right. If you want quality, you have to pay for it.  If we handicap them by not giving them enough resources, we stand to suffer another 4 more years of bad leadership.

I hope this is true. Nuhu Ribadu strikes me as one of those individual that can tackle corruption head on without fearing the consequences, or intimidation from those political godfathers based on his antecedents. Nigeria and Nigerians need that fearless individual that can cure that prevalence widespread disease that continues to hold our economy to ransom. Anybody that can do this will have my vote.

Nigerians wants accountability, transparency, better governance, but not ready to pay for it.

Not good enough, all these despicable multinational oil coys should be made to pay dearly for the crime they've committed. Why should we allow them to dictate how much they should contribute to compensate for what they've done? BP never had that chance to dictate how much they should contribute to compensate Gulf of Mexico neighbors, Exxon Mobil never had that luxury as well during the Exxon Valdez case so why should we allow that in our country. Tougher sanction should be imposed on them, and not their petty mere contribution.

@ Deji Yesufu

Spot on man.
Imagine how much more money will need to be expensed to run these new states efficiently. Creation of new House of Assembly, new estacodes, more embezzlement, new god fatherism.

naijacutee:
Yes, there are definitely more Nigerian millionaires now; but what I belive the poster is trying to bring out is the fact that the featured millionaires made by money by exploring "niche" narkets, not following the oil bandwagon. Thus, we don't need to look only upon the oil.

Right on the money.

How do we trace our steps back to this era, legacy and standards which has been set by our fathers?

Please, read the article to understand what I’m talking about.

This Time Magazine piece showcased the entrepreneurial spirit of our fathers while representing Africa, and they achieved their feats without skyrocketed oil prices.

This piece was written on sept 17 1965.

http://www.time.com/time/magazine/article/0,9171,842145-1,00.html

With the speculation lingering that part of our reserves will be invested as sovereign wealth funds all over the world. To all the gurus in the house, kindly educate us (me) on the upsides and downsides of investing our reserves as sovereign wealth funds all over the world? What can we do to mitigate risks embedded within this area?

I did factor those possibilities into my analysis. In the event the Chinese free up the Yuan, Yuan market equilibrium will take precedence. China will have to use their political power, economic prospect, trade partnership to position their currency properly while protecting their competitive advantage.
If they want to attain and retain that position of world super power (which they are pushing for), they have no choice on the long run but to float their currency and relax some of their restrictive policies. By the time they are ready to make those decisions; I’m pretty sure they will be prepared for the detrimental effect and will be ready to institute policies to cushion the effect. Effect of this will not result in over 40% inflation as you've stated, therefore will not affect their currency in that manner.
And we all know that all these other global floating currencies bear this same risk.