₦airaland Forum

I guess its ok to permanently have soldiers in Niger Delta so the oil can flow for afenifere guys to eat from.

there are many reasons for this. but what is important to me, is that,

OBJ spent 300B on subsidy. result is fuel scarcity every 2 weeks. (you all cursed him for it)
GEJ spent 1.3T on subsidy. result is no scarcity for almost two years. (you all praised him for it)

we always see half facts

Did this research take national population into account? so many other things have to be considered.

Yes there will be hardship initially, but lets face it.

All the importers have licenses for private refinery, but refuse to operate them because they collect subsidy money. NNPC along cannot refine enough fuel to run the country.
Within 12 months, only those that refine locally will be in business as they will have lower cost. the new refinaries will create jobs for many too.

Maybe we should give this 1 yr and see how it pans out.

PS. I support the removal but, NNPC refineries should have been taken to a higher level of production first.

I have learnt that the view of the general public is mostly wrong and based on sentiment. I try to be more objective on public issues.

But imagine  $7billion dollars anually on subsidy, no wonder we keep borrowing.
it may take some time but competition will bring prices down.

I believe the subsidy should be removed in stages and the refinery production incresed in stages too.
100% removal will be too harsh on the people. but i believe it should be removed.

http://www.economist.com/node/21542197?fsrc=scn/tw/te/ar/endthematonce



End them at once!
The president will be a brave man if he fulfils his promise to end cheap petrol

Dec 31st 2011 | LAGOS | from the print edition

PETROL subsidies are thought to cost Africa’s second-largest economy $7 billion a year—and Nigeria’s president, Goodluck Jonathan, says it is a priority for him to get rid of them in 2012. But most Nigerians think cheap fuel is the only benefit they get from living in an oil-rich country. As the prospect of life without subsidies looms, queues at petrol stations are lengthening, strikes are threatened and tension is rising.

Nigeria churns out 2m barrels a day (b/d) but imports almost its entire refined-fuel needs, owing to decades of mismanagement and corruption that have left its refineries to rot. Subsidies keep the pump price at $0.41 a litre but if Mr Jonathan has his way, this could rise to $0.74, in a country where most people live on less than $2 a day.

Successive governments have tried and failed to deregulate fuel imports. Mr Jonathan may show more backbone. But despite promises of safety nets to protect the poor and the need for new infrastructure and for improvements to the ragged electricity supply, Nigerians fear that the money saved by cutting fuel subsidies will be swallowed up by political fat cats.
In this section

The fuel subsidy drains cash from the state. The government has revealed that the chief beneficiaries are the 100-odd companies owned by Nigeria’s richest people, including Oando, the country’s largest indigenous private oil-and-gas firm, which alone netted $1.4 billion. The subsidies also highlight the tortuous ways of the Nigerian National Petroleum Corporation (NNPC), which has deliberately overestimated the cost of importing refined products and then pockets what is left over. The NNPC admitted in parliament that it could not account for 65,000 b/d of crude oil it should be refining, worth $7m a day at today’s price.

The government’s chronic failure to build working refineries has benefited middlemen. Imported petrol is siphoned off by third parties who take advantage of the cheap fuel in Nigeria, then smuggle it over the border to neighbouring countries where unsubsidised fuel costs three times Nigeria’s price. Billions of dollars earmarked for renovating refineries has vanished over the years. The country’s four refineries barely function: fine for those with political connections who make fortunes from imported fuel. If Mr Jonathan stops the scam yet keeps ordinary people calm, it will be a triumph.

Congrats to BOKO HARAM and their sponsors, Nigerians are calling for the resignation of Jonathan. If he goes, then the next president will also face this, as it will prove an effective method to change goverment.

Liberia and sierra Leone where destabilized so some people can sell weapons and steal diamonds. there are larger forces at play. we need to be careful

I always say follow the money. who benefits from what?

Someone sells bomb components to Boko haram. Someone has huge security contracts from the government, someone will make trillions in weapons sales if a civil war broke out in Nigeria. Someone will steal oil if there is anarchy.

Their are many people on the queue to benefit, they include, foreign governments, Northern Politicians, foreign banks, defense contractors, Some Nigerian Government officials themselves.

If the general public reacts wrongly they win. I pray we are able to exercise restraint. we are on a chess board whether we like it or not, but we can make moves of our own.

anyone?

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it has to be class 10. i can manage 8gb, pls help

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Please leave comments. thanks

thanks guys. Jaguda seems to be a constant after njok. will go with any of them

My Company is planning a music competition and we are wondering who the top 5 nigerian music blogs are.

I know notjustok is up there, which others are there?

Pls tell.

http://punchng.com/Articl.aspx?theartic=Art201108084215189

FG plans to remove state of origin clause form the constitution making it possible for anyone that has stayed in an area for 6months to vote and be voted for.

If this goes through, Lagos, Rivers, Abuja and other rich states will be interesting cases due to the large number of settlers. A 'NON INDEGENE' could easily become governor. what do you think. Good or Bad.

I believe, those who want Islamic Banking deserve to get it. My point is, the entire process is to guaranty economic empowerment for one region only. It is designed to favour one group and keep the other group out. The motive is not to satisfy religious beliefs.

It is not a conspiracy, its just deciet. A few people taking advantage of the belief of many to enrich themselves.

@ Jarus. insightful. good Job.

The North cannot destroy it and cannot compete in the present banking environment. so the solution is to create a new system that will favour them.
They are very interested in the Banking sector. They have always been, but lost out during the consolidation exercise as they only relied on Government Patronage.

They have not built an economy in the North. ask the big names you called where 70% of their invest is. its in the south to avoid loosing all during those unpredictable riots and to take advantage of the vibrant middle class over here



Towards the end of OBJ tenure, i read an interview with a prominent northerner. He complained that all the industries in Kano are shutting down because the president is not from the north. most of the industries there, are only opened to collect FG grant. The main livelihood of the North is Government handouts. they hardly generate anything because they have not built an economy for the region.

There is always a conspiracy the average man does not notice as he is too busy trying to survive.

Like i said, the sooner the North start generating funds, the better for us all.

dustydee:
I like the way you think. Keep it up some day you will be able to correctly discern the policies and politics of Nigeria.

I dont know if its a compliment. Are you saying i dont understand the policies now?

See Nigeria as a business Venture (the same way our leaders see it) and follow who gains from what. that is the best way to see things.

Policies which are not driven by greed are born out of ethnic, religious or regional sentiments. We dont do what is best for Nigeria, but what is best for our region and its people.

@ andromida.

I am happy u see things clearly.

Outside Agriculture, solid mineral mining and somethings like haulage, every other thing is dominated by southerners. The monopoly of administration the North had, has even been broken. The oil industry is strongly being controlled by southerners now.

This is a desperate move regain something.

When they had total control of Nigeria, the northern elite failed to empower the region. All the jobs are in Lagos, Port Harcourt and a few other southern cities.

When this new scheme succeeds, which it will. Greed will come in and destroy it again.

My Prayer is that the North finds its feet so we can practice true federalism.

First, i have nothing against Islam, muslims or any Region in Nigeria. I simply like to follow the money and see who benefits from what.

In my opinion, the present islamic banking Sanusi is proposing is not out of a desire to follow the teachings of islam, but it is entirely regional politics and economic empowerment for the North. This is why.


Soludo's consolidation exercise left the North without a grip in the banking sector. Many of the banks back then where owned by Northerners and were mainly tools to launder money and get forex at government rate. The real Bankers survived the exercise and most of them where from the south. It meant the South Control Nigeria's finance irrespective of who is the president.

The first Agend of sanusi was to restore some control of the banking sector back to the North'. The Banking reform had a strong hidden agenda. This agenda was for CBN/Sanusi to take over some existing banks and sell to foreign investors fronting for some Northerners.

It was easy to execute as the bank MDs already had loads of crimes to answer for. President Yar'duas death truncated this plan as a Southerner, GEJ became President. If the banks are sold now, the buyers will not be reps of powerful Northerners.

Frustrated by the failure of the above plot, they switched to Islamic banking. I must say it is a brilliant idea. Unity Bank is known by everyone as a nothern bank and i dont know even one unity bank customer. So starting some new commercial banks isnt a good solution to breaking the southern domination in the banking sector.

With Islamic Banking, they can tap into an already existing customer base, muslims and have absolute control of the system using islam as a tool. Islam in Nigeria is controlled by the North, therefore this new banking system will be under their control. If you cant beat them, start your own. This new system will not operate in the same competitive market as the other banks and will easily grow as it has religious ties.
More importantly, most of the southern Bnakers will be shot out as they are not muslims.

In one sentence; Islamic banking in Nigeria is a scheme by some Northern Businessmen and politicians to reclaim a share in the Banking sector as they lost out during Soludo's consolidation exercise. It has very little to do with the satisfying the wishes of muslims.

The only problem i see is that, the people that will control this new system will also steal from it and destroy it as they did when they operated commercial banks.

In Nigeria, follow the money and you will see clearly.

Go ahead, which do u like more.

watch both and pick which is better.

[flash=300,300]
https://www.youtube.com/watch?v=6DZ6pFoyN8M[/flash]


[flash=300,300]
https://www.youtube.com/watch?v=_5T5uRBnM_Q[/flash]

The North is doomed oh. the more they bomb and riot, the less people visit and invest. They complain about poverty. with every bomb that goes off, one more investor avoids the region. Unlike Niger Delta where investors will never run from oil. there is nothing currently developed to hold investors irrespective of crisis.
Boko Haram is a political tool in the hands of desperate politicians and will pass too.

as for the British, when they want to take action about something, they exagerate it first in one of there intelligence reports. i dey laugh oh.

A man of integrity that knew he could influence the people that carried out the post election violence to stop by simply telling them to, yet refused to do so until several lives were lost.

Buhari is a wicked and selfish man. he can never see the interest of Nigeria above his own.

He has not attended in the past 12yrs. he should just stay off completely.

Northern elites are very wicked. they are just focused on oil when they have agriculture and vast mineral resources to support their region. yaradua and rilwanu lukman proposed this bill. they are Northerners too.

Now they want to bring north vs south sentiments again.

dear senator, spill your blood. it wont be a new thing. your people like spilling blood.

I am so glad the north is complaining. I remember when they where absolute. why didnt they help their region then.