₦airaland Forum

Lai Muhammed in Economic Team
We are finished >:
No wonder we in this aimless slide down the steep economic slope

KingRex1:
This is pretty nice.. But wait, are we still talking oil??
Pls o DiversifY!!!

This is gas, a cleaner source of energy and very lucrative

Fumbaby:
Na wa oooohhhhh

The chopping has commenced in earnest

Beremx:
First Lady with class.

Sure. A classy First Lady () or Wife of the President (WOFTP) joyfully commissioning projects started and completed by President Goodluck Jonathan. Buhari would have been more gracious to acknowledge that his predecessor achieved the feat of building 6 brand new LNG tankers.

Contract for acquisition of 6 new LNG tankers to replace the aging ones in the fleet were signed in 2013. Five of those tanker were delivered before GEJ left power. This is the last one whose construction was finished last year.

Read: http://www.thisdaylive.com/articles/nlng-orders-1-6bn-vessels-from-korean-firms/143306/

Forwetinnah:
GEJ or OBJ?? Get your facts right!! Under OBJ Ibeto had restrictions too, it was GEJ that lifted it and allowed competition. The same thing is happening now under boooooohari, Dangote has gotten back his rights to monopolies the market..yet you didn't see that to complain about?

You are absolutely correct. It was GEJ that lifted the siege on Ibeto whose bulk importation and bagging of cement was a direct competition to Dangote. Hence, for some strange reasons, his business was crippled until GEJ rescued him.

Wife of the President (WOTP, not First Lady) Mrs Aisha Muhammadu Buhari has unveiled a new vessel of the Nigeria Liquefied Natural Gas company billed to join in the fleet of the organisation. The newest LNG shipping tanker is owned and operated by Bonny Gas Transport Ltd, a subsidiary of Nigerian LNG Ltd.

The newest LNG export, LNG Abuja-2 was built and completed during the administration of former Nigerian President, Goodluck Jonathan.
Altogether, a total of 6 new LNG tankers were ordered under President Jonathan government valued at $1.6b from the Korean firms, Samsung Heavy Industries and Hyundai Heavy Industries (HHI).

While performing the "naming ceremony "in Seoul South Korea ,today ,Mrs Buhari said the acquisition of the new vessel,named LNG ABUJA 11 was an additional impetus to the growth of export related businesses that will improve revenue generation for Nigeria .
"for example ,more than $10 million dollars was generated from the export of quality Nigerian materials to Korean shipyards "

According to Mrs Buhari ,among other recorded achievements, the relationship of the two countries was quite in line with the goals of the present administration of furthering the development of human capital and job creation.

The wife of the President commended the NLNG for the new stride "nothing makes me proud than the knowledge that Nigerians and Nigerian companies actively participated and benefited directly from the construction of the new (ship) vessel.

Mrs Buhari emphatically said "the ship has Nigeria written all over it "and expressed hope that participating companies in the sector will continue to export to shipyards across the world and make nigeria to shine in every shore for increased economic development.

NLNG is a Nigerian joint venture company whose shareholders are the Nigerian National Petroleum Corporation – 49 per cent; Shell Gas B.V. - 25.6 per cent; Total LNG Nigeria Limited – 15 per cent; and Eni International - 10.4 per cent.

Hope that dumb and clueless Finance Minister who could not add 16+6 will not go and advise Buhari to sign a document with wrong figures like $10b while the actual loan is just $2b.

akunjohn:
madam,u ve already make urself known in your community as an icon.


please,settle down and have ur own children, I'm sure dere must be some men who will accept u and d line of ur job.

What makes you think she is not married?
Does she look like a spinster to you?

[size=14pt]Does anyone have solid information what is causing this sudden appreciation in just 3 trading days from N400 Friday, 19/2/16 to N300 today, Wed, 24/2/16?[/size]

modelmike7:
Wow! 100% in all courses. Big ups to you kid bro. All the very best in the nearest future. . . . . This poster below me is funny sha, just imagine question! Well, thanks to Sinaj for giving him the answer.

He did not score 100% on all course. He made "A" grade in all courses. If "A" grade is from 70-100%, it possible the guy made 70%, 75%, 90%, etc in some courses.

Excellent performance all the same

lastpage:

Have you heard that Dangotte is owing his staff four months salary?

Rabiu is just spewing the nonsnese becuse he is jealous that his economic competitor is waxing stronger than him.

As for Ifeanyi Ubah, his is just the usual "gra-gra" and chest-beating we usually get from that red-soil side.
He is a criminal, treasury looter (TAN) under GEJ and confirm illiterate.

Lastpage!

Dangote factory workers are underpaid and work under slavish conditions under the Indian supervisors and manager that Dangote prefers to recruit.
They have serious labour issues.

Read: http://www.vanguardngr.com/2015/09/transport-staff-ask-buhari-to-probe-dangote-say-he-is-underpaying-for-labour/

CACAWA:
[size=18pt]seriously I don't know why people are amazed abt this man.

Of course all he needs to do is bring out all our 20 Bilion dollars from the different soak-aways and pump them back into the economy.

For goodness sake, this the leader of TAN himself and the agreement with the FG is to ensure that there is no prosecution after.

[/size]

Hahahahahaaaaa.
Bros. How many soak away pit can one dig to hide $20b. That is about the size of the entire national reserve!!!!
Haba lets be serious.

If you dig that many soak away pits, you can pick it up on Google Earth. You can see it from space

Choi!!! Nigerians!!! We get imagination eehn

DeLaRue:
3 weeks ago I saw Emefiele make his carte blanche comment on tv saying he was ready to provide ALL the foreign currency Dangote needs. I was surprised then wondering where cbn would get the funds from.

Emefiele just comes accross as a 'yes' man who always look timid & confused.

Add all the illegal withdrawals by Gej and his men, this Emefiele man appears not to know what he's doing.

I was shocked and astonished myself to learn that FGN/CBN that does not have money to repair existing government refineries or build new ones, suddenly has all the dollar needed by an individual to build his private refinery. And this happening under Buhari's nose. Are they sleeping?

This country tire me oooooo.

Lalasticlala are you hearing this one?

chinchum:
This report is contradictory and appears like a piece of trash. Whose coy is involved in forgery? Late ooni of ife OR new ooni of ife?

The fraud was against Sijuade Holdings which is part of the late Oni's business empire being run by his son. The then Prince Enitan Ogunwusi even admitted to the fraud, but said it has been "resolved amicably". Unfortunately, it seems things have not really settled. The property in question is the large and highbrow residential development along Chevron Drive, Lekki called North Point Estate.

This forgery-cum-fraud scandal burst into the open late 2015 during the tussle for the Oni stool. However, prominent Yoruba elders including Tinubu and Oba of Lagos rallied round to quell the crisis, in typical Yoruba style of protecting their overall interest.

This is why Oba Enitan Ogunwusi specifically went on a thank you visit to Tinubu's house on Bourdillon Rd, Ikoyi this Feb 2016 for helping him out. This is how we Yoruba's take care of our crisis, unlike Igbos who like to fight each other publicly even when the entire race will lose at the end.
Read the facts below:

Prince Adeyeye Ogunwusi has denied the N400millin fraud allegation leveled against him by Sijuwade Holdings Limited. The Ife Prince who is one of the contestants for Ooni of Ife stool is telling all those who care to listen that these allegations are coming out now because he is interested in Ooni of Ife throne. He added that Oba of Lagos and Asiwaju Bola Tinubu are cognizant of the matter and it has been resolved amicably.

Be that as it may, Sijuwade Holdings Limited has sent a petition to the EFCC complaining that Prince Adeyeye Ogunwusi and his company Metropole Interproject Ltd. allegedly defraud it of N400million. Sijuwade Holdings Ltd. revealed that it had an agreement with Metropole Interproject Ltd. to sandfill 30,000 square metres of land at Lekki, Lagos and 7,500 square metres will be given to the company as payment. Sijuwade Holdings Ltd. added that after the sandfilling, Prince Adeyeye’s company offered to develop the remaining part of the land for them by building 24 duplex and would take 16 duplex out of the 24 as equity in the project.

Sijuwade Holdings Ltd. told EFCC that it gave Prince Adeyeye Ogunwusi the title document and tax clearance of two years of two directors to process permits required for the construction and after the completion of phase 1 of the project, it requested for copies of the approval and governor’s consent but Prince Ogunwusi refused to provide the documents. Later, it discovered that Prince Ogunwusi had allegedly forged the title documents by superimposing the name of Metropole Interproject Ltd. as co-owner of the land.

That’s not all, Sijuwade Holdings Ltd. added that Prince Ogunwusi, submitted a forged Certificate of Incorporation with the name Metropole Interproject and Sijuwade Holdings Ltd. and also forged some documents belonging to the Lagos State Government and uttered same to the Lagos State Physical Planning and Development Authority. Also, Sijuwade Holdings Ltd. revealed that Prince Ogunwusi sold eight duplex units that belongs to it worth N400million and spent the money.

Screen dump of Abdulsamad's BusinessDay article

AbdulSamad Isyaku Rabiu, Executive Chairman of BUA Group (Dangote's main business rival), took an unusual step of writing a full page article in Business Day of Monday, 22 Feb 2016 claiming that the current naira free-fall is caused by a few greedy people, or more to the point, a particular person.

BUA Group is into the business of manufacturing of cement, sugar refinery, flour, edible oils, pasta and rice cultivation.

Abdulsamad Isyaku Rabiu: Whilst the federal government is doing everything to protect the Naira, there are Nigerians – corporates and individuals alike who are grossly undermining the government’s position – sometimes with the aid of regulators – knowingly or unknowingly.
Whilst some manufacturers are experiencing extreme difficulty sourcing foreign exchange for legitimate business operations within Nigeria, others are getting forex to set up operations in other countries.

It is rather ironic that a similar competitor in the same industry, who incidentally is the market leader, is allocated huge amounts of Nigeria’s hard earned and scarce forex from the official market for its operations in Congo. I do not know if there is an official policy to that effect but I was baffled, as were numerous Nigerians, to learn through a publication of forex allocation returns by First Bank of Nigeria Limited in THISDAY Newspaper of Tuesday, February 16, 2016 (page 11) of that allocation, whilst other operators in the same industry have received far less or nothing at all during the same period for verifiable and viable investments within Nigeria.

t begs the question, “Were other plants by that operator across Africa built with Nigeria’s money?” How has that impacted the country’s economy in return? If this is true, then it needs to be checked, as we cannot have a situation where Nigerian industries are being shut down, workers are losing jobs daily and resources badly needed to develop our economy are being taken out of the country to grow other economies to the detriment of ours. If this transaction was done using “Form A” like the publication suggested, then it is just money that has gone out from the country, which can be rerouted into the country for larger profits.

Without doubt, there are many persons and corporate entities who are aware of the goings-on in the Nigerian forex market but are afraid to speak out because of the perception that those involved are too powerful but if no one brings these issues to the fore, there is absolutely no way we can progress

: http://www.osundefender.org/manufacturing-the-fx-situation-and-the-nigerian-economy-by-abdulsamad-rabiu/


Few days ago Dr Ifeanyi Ubah, CEO of Capital Oil took a rather unusual step of appearing on Channels TV on Sunday, 21/2/2016 to make a very bold claim that the current Naira slide is artificial, and is caused by a few individuals. He said that he "knows those behind the current foreign exchange crisis facing the nation and was ready to name them publicly".

He also staked his entire assets of N500b on his claim that he will expose the saboteurs, reverse the slide in 30 days and bring Naira back to 1$=N200. FG is yet to take up the offer. However, since these two

http://www.vanguardngr.com/2016/02/i-ll-name-those-behind-forex-crisis-if-says-ubah/

http://www.authorityngr.com/2016/02/N200-PER-DOLLAR-PROPOSAL--Ifeanyi-Ubah-stakes-N500bn-assets/

Abdulsamad Rabiu spoke on Sunday, 21/2/16. The very next day, Ifeanyi Ubah spoke in same vein on Monday, 22/2/16.
Are these mere coincidences? is anybody thinking what I am thinking? Is anybody in Buhari's govt and economic team getting the message?

Both Abdulsamad Rabiu and Ifeanyi Ubah are seriously supporting Federal Govt policy not to devalue the Naira, whilst a powerful business men are secretly nudging FG to agree with IMF and devalue the Naira. Why? Who is benefiting from all these mess?

More importantly, which powerful individual or corporate entities are Abdulsamad Rabiu and Ifeanyi Ubah referring to, and even threatening to name? Nigerians wake up and shine your eyes oooooo!!

Meanwhile, in previous news, in January 2016 CBN Gov Emefiele visited Dangote's new refinery/petrochemical/fertilizer construction site at Lekki free trade zone and pledged that FGN will supply him all the dollars he needs for this private project at official rate of $1:N197, which is currently estimated at $10 billion. This represents 30% of our reserves. According to CBN, current Nigerian external reserves has dipped to $28 billion.



https://www.globalnewsnig.com/wp-content/uploads/2013/09/ifeanyi-uba1.jpg

Last2comment:
No source

Here is the sauce. Do you want pepper also?

Villa sources reveal that the culture of bribery and corruption that still goes on within the presidency unchecked; as espoused by Secretary to the Government of the Federation (SGF), Mr. David Babachir Lawal.

“He demands money from persons who want to become Director Generals (DGs). He demands bribe from job seekers who are in line to fill the various vacancies in the Ministries, Departments and Agencies (MDAs)”, one of our sources revealed on Thursday night.

“Lawal will promise to sit on your file until you transfer a certain amount of money to his account. He’s Mr. corruption around here and he carries on blatantly and in this in-your-face manner”, we were also told.

Alongside the chief of staff, Abba Kyari, villa sources say Mr Babachir Lawal carries out several dirty dealings within the presidency.

“Kyari and Lawal haven’t abandoned the old ways of corruption in the bureaucracy”, said one villa source. “They’ve been cutting deals left, right and center”.

Online news portal, Sahara Reporters, recently posted that Chief of Staff Abba Kyari only deals with matters in which he or the Nigerian president retains personal interests. The Chief of Staff also sneaks to the UK as soon as president Buhari leaves the villa on foreign trips–for personal business, added the online newspaper.

SGF Babachir Lawal has also been accused of cutting deals with one time Jonathan and PDP financier cum businessman, Arthur Eze.

“He’s greedy”, said another villa source. “If Buhari is really serious about stamping out official graft, he has to begin from his inner circle and SGF Babachir Lawal is as corrupt as they come”, the source added.

“The bureaucracy within the presidency isn’t markedly different from the past in terms of money exchanging hands between government functionaries and the public and that is down to persons like Babachir Lawal”, offered yet another villa source, with a sense of foreboding.

Kai! See Pastor pack bobbi like Peter Rufai catching penalty
No worries. enjoi ya self. Na ya own

obowunmi:
She wanted to rob him kill him, he died by accident.

How can it be an accident when she put the plastic bag over his head, while her contracted assistant held him down until Bankole stopped struggling. The whole thing was planned and premeditated.

I feel sorry for my Yoruba brothers working in oil industry in South-South states and their love for pucci. It is the same story whether at PH, Yenogoa, Warri or Eket. They are never satisfied with 1 or 2 girls

Deefuray:
Some women get mind oooo

All women get mind when it comes to money matters.

Else, what could make a young girl for example to travel all the way to Abuja, Kano or Lagos to meet a man just because of promise of money?
Lots of undergraduates, and even those working will do it in a heart beat.

....

Someone posted this comments in Punch page:

"Now they have both lost their life's and the women will keep committing adultery with other men. Who gains?"

Buhari should just ban ALOMO Bitters made by Kasapreko in Ghana. Let's see how that makes them feel.
Afterall, who Alomo don help?

EazyMoh:
Exactly one of his four wives! Question is where are the other three??

Good question.

But then, all four are in danger of 1 of them being knocked off the conveyor belts of wives because El-Rufai is seriously wooing Buhari's daughter.

So to make sure they do not violate the 4 allowed by Islam, one has to go. And it could be be the one celebrating birthday.

Zalza:
HBD.... The best governor after professor in Cross River and president in 2019

Best governor how? By threatening and trying to commit all street beggars in Kaduna to asylum?
Or by attempting to organise a failed musical concert?

Let the good people of Kaduna and his nemesis Sani Shehu be the judge of that.

makabulchi:
Dat right hand spz hold one bobbi

..

Loved up with his wife indeed! Meanwhile he is trying every trick in the books to also bed (or marry as he says) Buhari's daughter.

Meanwhile, in another news, Tambuwal has just added a new wench to his harem.

Nigerian men in power, and konji. They are like 5 and 6

micfoley:
I get your point and l admit senators buying cars from Innoson is very encouraging. It will help create jobs in the long run. My point is that the rre is so much insecurity in the country because of the serious unemployment that pervades the polity

The point or message Ben Bruce is trying to make is: PATRONISE NIGERIAN MADE GOODS AND SERVICES.

It is not about security. In all likelihood, he may not even use the vehicle personally. He is simply promoting Innoson Motor Vehicles. he is making a very statement, also helping to publicize Innoson vehicles.

Please let's try to understand issues in their proper perspective

eyeview:
That one is small. Rochas appointed a lawyer as Commissioner for Health

Are you serious?

Mogbe

Adebayo Shittu is Buhari's minister for communications. He graduated with a law degree from University of Ife. Adebayo has been a career politician all his working life.

Communication Ministerial slot has traditionally been occupied by professional engineers, especially those with degrees in electrical/electronics due to the specialist and highly technical nature of the ministry. During military era, they were always careful to post a military officer from signals corp to run that ministry. Why is Buhari bucking the trend? In this era where telecommunication has moved to new realms of tele-presence, cloud computing, and super fast broad-band internet services as the bedrock of modern life, what do we gain by putting a lawyer in that post who will just be like a fish out of water when dealing with issues in in telecoms?

Even engineers in other disciplines like Mechanical, Civil, or Chemical find it almost impossible to understand talk less of keeping up with the fast pace of changes in the telecommunication space, a lawyer stands abosultely no chance. This is just jobs for the boys.

Once again Engineers have been given a big slap in he face and relegated to irrelevance. You can never see an engineer or architect being appointed as Attorney General & Minster for Justices. NBA will break our ear drums with protest.

Flyoruboy:
What is the achievement that you won't let us hear word and are abusing people for goodness sakes ProForce (based at Ogun state)

http://www.proforcedefence.com/picgallery/index.htm

has been making Military hardware for the Nigeria Armed forces for about a decade! Smh. You people and your inferiority complex. Must you put others down/gloat to feel good about yourself? ?

Please please please guys. All these hatred is not necessary. I know you did not start it. The reason why we are still in the dust is because of this mutual hatred.

It is obvious that the Yorubas, Igbos, Ibibios, Ijaws, Hausas and indeed all nationalities are extremely talented.
Why don't we just harness our collective strengths to make Nigeria the greatest nation on earth, rather than dissipating our energy on pointless fights and name calling?

Who has all this fighting helped? I am sure if you go to the factory floor at Proforce or Innoson, you will not find only Yorubas or Igbos working as skilled artisans there.

Our leaders have to to set the example here. How so powerful it will be if we see someone like Tinubu, Mike Adenuga, Otedola, Obansanjo, Oba Sikiru Adetona, Oba Rilwanu Akiolu going on factory visit to Innoson Vehicle Motors at Nnewi and making positive and supportive comments.

Same for Obi of Onitsha and other prominent Igbos visiting Proforce workshop. It will send a powerful signal.

Presently, the new Oni of Ife is busy doing familiarization tours, but he is currently restricting his movement only to Yorubaland. You hardly see Oba of Lagos attending any function in the East not to talk of going near any South-South state. The new Emir of Kano, Sanusi Lamido is doing the exact same thing. He has only gone to Lagos to greet his political friends in APC. He is yet to step foot any South-South state. Why?

The followers pick this cue and body language from thier leaders spew more hatred.

These behaviour must change if we are to move forward as a people and strong nation. Thus far, we are just exhibiting the classical crab-in-a-bucket syndrome. Pulling each other down.

SAD