₦airaland Forum

ryanol2:
Afonjas firing on all cylinders. This was a man that rescued Nigerians from South Africa, of which 50-70% of them were Yorubas. SMH

Igbos/Biafrans, read replies to my post and see what afonjas are saying; calling this same man that rescued them criminal, thief, fraudster, same thing they called Innoson during his trial, only for the court to rule in his favor. In fact the court said GTB is the criminal/thief and should pay Innoson his money!

Whether he rescued people is not the issue. If he is found guilty he should face the law.

There are alot of other people that have done far more greater and more expensive philanthropic activities and yet penalised for wrong or criminal activities.

One thing I know for sure is the department of justice will not waste US tax payers money on some frivolous with hunt. Besides the investigations have been going on since 2010 way before the xenophobic attacks in SA precipitating his supposedly historic act.

I guess you guys don't know how this cross border investigations affect business. I have a close associate that was at the last stage of getting a 1m dollar venture capital backed funding for the construction of a commodity processing plant for export. The VC backed out last minute when the Invictus Obi case came to light after over eight months of due diligence, cross border meetings and consultations.


Issues like this also partly contribute to the negative backlash ordinary nigerians face abroad.

The question you need to ask is what will the US gain by trying to run Air Peace to the ground.......absolutely nothing or maybe our conspiracy theorists will say that there is a northern agenda to this so technically the USA is now working for the North.

If he is found guilty let him face the law billionaire or not. Afterall people will far more vast wealth have been sent to jail for lesser offences.

God bless Nigeria.

Mindfulness:
Your sister is a hero. She has my blessings too. You people should try and live in the 21st century. Kuddos to your dad as well.

GOD will bless and favour you and your family in so many ways that you can't even comprehend.

MrMan24:
From what you wrote, I can see that you know nothing about JV contracts. Don't blame the IOCs, they have nothing against you, blame the government.

Oh really so you think....well thank you

solmusdesigns:
whats the big deal in snapping with people in first class on emirate

I tire oh.

SoNature:
How are the IOCs ripping Nigeria apart when the NNPC doesn't provide funds for E&P even when there's a standing JV that defines how the venture should be run?

I am patiently waiting for your response.

Read my response again sir.

I am not in any way supporting the non adherence to contractual agreements by the FGN but also know that most of these contracts were signed under extenuating and shady circumstances so technically its a rip off from the start if you ask me whether the govt is meeting their own part of the obligation or not.

Again another angle is that the O & G industry is at a tipping point and approaching maturity so it's strategically ok for the IOCs to divest and move to new markets craving for investment where they can also sign these parasitic deals and the vicious cycle continues from there

I have seen some of these JV contracts and I can tell you that quite a hand full are not in our favour.

Thankfully the FoB and PlB acts have made it easy to have access to this information.

yudee233:
Good for independent companies

That is if they have the capacity and capability manage these assets.

I pray our oil and gas industry does not go the way of the power sector where assets were stripped and sold to cronies instead of competent professionals leading us to where we are now.

On the flip side this is maybe an opportunity for the local companies to expand their scope and become better.

In as much as I don't support these IOCs because I know that they are ripping us off with the contracts currently running but again the question I beg to ask is what were our govt officials thinking when they signed these contracts?

God bless Nigeria.

Very expensive watch but not up to the 70m price tag.

This particular brand is around 50-70k USD. This is not the limited edition version of Richard Mille but overall an expensive watch

CoolAmbience:
Lol.

You are just ignorant and vexed at government over nothing.

Who talked about free anything? You think you know more than those at the NCC and Ministry?

My award is phoney...show your real awards and lets see whose awards are phoney.

Were the telcos not exploiting Nigerians when they charged the same cost for a call duration of one minute and a call duration of 10 seconds?

Was it not Globacom that turned things around for Nigerians? Or do you want to say that the telcos aren't making profit since they adopted per second billing?

It is glaring that you have got nothing to say.

Government will regulate them, anyone that doesn't want to be regulated can leave.

I don't need awards to prove my level or depth of entrepreneurship. You are the one brandishing awards up and down like it's some bragging right and one thing I know for sure is people that are quick to tie their achievement to some phoney awards esp in business are as they say "empty vessels"

Also, I guess i made a mistake even replying your initial post. I should have gone through your profile like I normally do before clicking the quote button.


Continue to wallow in your self pity of entrepreneurship awards and clamour for free Telco data when the govt should be giving you much more.


I do business across two continents and I know when I say that the recipe for any economic disaster is for govt to try and micro manage the economy to the point of price control like they are trying to do for the debt and capital markets.

The irony is they are not even doing this for social services like health, education security etc.

But for telco data so the short sighted gullible award winning Nigerians like your self will say they are working. Like the reduction in data prices will renovate the bad roads tackle security problems or even improve the power larcuna.


Go to the industrial hubs around the country and see the infrastructure gap there and compare with those abroad or evrn in other African states.

Take a visit to Rwanda and see how govt has made it so easy for people to invest there.

This is my last post in this matter. Reduce or not I am very fine and yes .....God bless Nigeria!

CoolAmbience:
Is it not the same thing? OPEC is protecting the weak oil producing nations. Why are you contradicting things?

Nigeria has the responsibility to protect her citizens against exploitation. Simple.

There is distinction between profit making and exploitation. Don't think that the people in government know nothing about doing business.

There is nothing to justify here. Please, don't lecture me about any intricacies of doing business in Nigeria. I started my business here from zero and I live here. I understand so much about doing business in Nigeria.

I have won national and continental awards, including one from the African Entrepreneurship Awards.

Kpele mr award winner.

The open analogy still does not hold because the price of data varies and you pick and choose according to your capacity.

We need to stop this free for all mentality that we have.telcos are exploiting through data when we even have the one of the lowest data tarrifs

I am also beginning to doubt your clarion call about been an entrepreneur or maybe you are one of those internet entrepreneurs that don't make use of any factors of production and also buy your way through with phoney awards.

Otherwise if you produce employ people and grapple with the issue of double taxation of all cadres of the same govt you will understand

ornicus:
Then start your own telco and give data away for free. It’s a winning business strategy and you will run all those greedy explorative telcos out of business.

God bless you my brother. Our entrepreneur here doea not even know the difference between profit and exploitation. Maybe he wants us to go back to the era off govt owned Nitel where you queue for three days to buy call cards and then queue another three to make an international call. Instead of us to hold out govt accountable we are busy trying to run the few private firms thriving in the country into the ground.

Go and see what govt interference in micro managing the affairs of the economy(even to the point of controlling prices of bread and table water) has turned Venezuela into. Govt should create the enabling environment and ease the cost of business and watch how market will force prices down.

The same govt that can't decide on standard data capture and identification modality for Telco and yet turn back and fine them for not disconnecting unregistered lines.

CoolAmbience:
Cost of doing business, either low or high, cannot justify extortion or exploitation.

I am an entrepreneur as well. You don't create wealth for shareholders by reaping people off. Don't forget that government also has a responsibility to protect her citizens, and that is irrespective of ramifications.

Please, drop the price regulation argument as it relates to failure of our refineries. It doesn't hold water. Isn't OPEC regulating volume and setting price at the global stage? Why are there still functional refineries around the world?

As for market forces controlling prices of oil products, the industry is different. The players are few. It isn't the same as with Agriculture, FMCG etc.

Please, economy of scale makes better sense when the cost of doing business is high than when it is so low. Stop being theorical.

And my big question is: why can't the telcos leave when they think the environment isn't benefiting? Why do you prefer that government turn a blind eye to the plight of millions of her citizens to allow telcos 'create wealth' for a few tens of her shareholders?

There is nothing wrong with government calling for necessary adjustments to enhance value for her citizens, absolutely, nothing is wrong with that.

As an entrepreneur I sense you don't fully grasp the entire intricacies involved in doing business especially in Nigeria.

But i won't engage in any form of discourse with you. Shebi you say you are an enteprenuer? Good just tell govt to fix prices for the discharge of the goods and services you intend to make available to the public irrespective of your cost of production.

OPEC also sets prices so there is a level playing ground between thecountries that produce crude. Imagine if the global sale of crude was free for all then big players like Saudi will use their excess supply capacity to drive our small players like Nigeria,Ghana etc so the analogy cannot be used in this discussion.

Instead of the minister blatantly asking for a reduction in prices he should have a round table discussion to see how all the stakeholders can work together to improve service and more importantly ease the cost of doing business

Cost of living in Nigeria is high and very unpredictable hence planning for retirement here is pretty difficult. Also our cultural practices also make it difficult to plan.

Overall the needs at the point of retirement should centre around access to good health facilities, basic needs like food, shelter, clothing etc but thid is not what obtains here so we even put undue stress on the retirement plan.

For I think if these basic amenities are met and there is some form of quasi activity for the retirees to keep them semi active instead of just staying at home then it's fine.

80kobo:
They don't burn 2 generators per mast 24/7 in the countries with cheaper data.

Please loud it for these people my brother

CoolAmbience:
Oga, please stop that.

You know nothing about what you are saying.

Who told you regulation of price of petroleum products is responsible for the bad state of the refineries? It is not true...corruption is.

Do you even have the slightest idea what these telcos post as profit after tax? Regulating telcos is an important part of enabling business as communication, just like energy, is the liveblood of any business and economy.

With Nigeria's huge population, it's needful that telcos are properly regulated to ensure that they are not taking undue advantage. No one is saying that they should not recoup their investments.

I am surprised you said that no one can force them to adjust their prices. That's actually ridiculous. Recall that they aren't also being forced to stay. They are at liberty to leave.

If you know about economy of scale, then you should reckon that a country the size of Nigeria should enjoy cheaper data and call rates than several other countries.

The whole talk about peculiar challenges and what have you, makes no sense at all.

What they post as profit has no bearing on this discourse. They are a private company and they have the responsibility of creating wealth for their shareholders.

Economics of scale will only make sense if the cost of doing business is low.

You don't expect them to price below their per unit cost of data deployment do you?

And yea petrol price regulation is one of the major underlying reasons why the refineries aint working.

Let market forces control petrol price and see the amount of investments that will flow into that sector.

At the end of the day the govt is to blame.

The enabling environment is not there at all. The cost of doing business is very high and the telcos just pass this cost on to the end users.the same applies basically for every business from banks to telcos to even the common trader on the street.

Telcos and their logistics partner pay through their noses to keep the bases stations running bearing in mind that these bases stations run on diesel 24-7. Each also must have a security guard on site otherwise vandals come and steal their equipment.

I recently read it online somewhere that it cost more to transport a 40ft container from lagos to the South East than it cost to ship same from China by sea. Also, the cost of clearing the same container is the same as the cost of sea freight and this is minus the uncessary delays at the port. Roads are bad, police check points every where etc.

So let govt do the basic which is to create the enabling environment, deploy the basic necessary infrastructure And then they can talk.

Asking Telco to reduce cost of data is not an issue. All they will to do is migrate y'all back to 3G or even 2G which is a cheaper infrastructure to maintain and comply with the minister's directive.

Instead of us to hold govt accountable and demand for the basic things they should do we are busy gagging the few private sector firms trying to make this country work. Same way people will come and be abusing dangote.

I know of a cluster of bases stations in the niger delta that for you to get diesel to the area to power the base stations you have to pay almost five times the cost of the diesel as bribe to the militants controlling the area. At some point the telcos even hire some of the militants as security men paying and housing them. The same militants will go and steal the expensive base station equipment and sell in the open market causing service disruption.

At the end of the day telcos got tired and shut down like 15 base station in that location and set up same in a neighbouring country.

I know of banks that spend billions on diesel yearly

God bless Nigeria

Kastrom:
Good evening ladies and gentlemen, I just finished serving last month and I got a job offer of 40k. I am a B.Sc holder, graduated with second class upper. I need your candid advice whether I should accept or decline the job offer.

Without meaning to sound rude, I don't think you should be bothered about the job offer but rather consider going back to school to relearn everything you have studied so your upper second class is truly worth it.

You had to come and post this crap online and equally more annoying is the fact that people are replying your post.....end of rant


Few questions .....what did you study? What kind of job offer is it? Is the job in line with what you studied? Is the job something you can see your self doing irrespective of whether it's related to your course of study or not?

Do you still stay with your folks? Outside of transport what other expenses are you likely to incur during the course of work? Overall is it in line with your long term career objective?

When you have sincere answers to these questions then you and you alone will be able to decide if you should take the job offer or not.

Cheers!

Happy birthday to your little princess. GOD bless your family always

Futuragetty:
People do not understand the power of the national assembly.
Emefiele too does not.

Imagine Jerome Hayden, Chairman of US Federal Reserve Board sending a representative to the US Senate.
He will not.

The business of the house supersedes whatever duty he may be handling after all, He has a deputy. Same as Our CBN governor.
But in Nigeria, head of parastatals, Custom DG and many more will not honour an ordinary invitation.

Not this house that is full of charlatans

bixton:
You're certainly a staff of the company.
Let a reputable auditing firm visit the books of these companies and all will be another story.

I am not a staff of any company. We have the lowest electricity tarrif regime on the world.

People need to understand how this power thing works from generation to transmission to distribution and collections.

Gencos will only generate if there are confirmed off takers and NBET does this on behalf of the Discos. Govt has refused to let go of transmission saying it's a critical asset yet they refused to upgrade the transmission facilities and also fix prices for the Discos and people also refuse to pay for consumption.

I tire for this country.

grandstar:
Money down the drain I'll say.

First deregulate the price of electricity. 'Further liberalize the sector. Provide incentives for better capitalised companies to buy up the Disco's. Provide incentives for the Discos to sell to well capitalised buyers.

Government should pay up all electricity.debts owed to the Discos.

The national grid needs overhauling. The market isn't working well

God bkess you and to add people should also learn to pay their bills and stop electricity theft.

Overall average collection rate for the Discos nationwide is around 45% with IKEDC and EKEDC taking in about 70-80% of their targeted collections. So there is always a shortfall.

Guyman02:
The reality is that no company was willing to invest in supplying gas to Calabar power plant without a take or pay agreement.
The problem now is that Calabar power plant has a capacity of 561MW, but it's not generating up to capacity because the Distribution companies are not ready to take the whole power generated which they blame on poor revenue collection.
So the power plant is asked to generate below capacity, running 2 out of 5 turbines most times while the gas is available there, because the company has to recoup it's investment, the FG has to pay a percentage for not using the supplied gas while the citizens suffer lack of adequate power.

I know this because I work in the generation system which is frustrating to us watching what the Discos are doing to Nigerians

Govt is to blame on one part if you ask me then should hands off electricity completely and watch the massive change that will happen.

Yes it will be hard at first but market forces make things to normalize. A very good example is the gsm industry. Ntel the only Telco that govt s still interfering in has finally gone moribund.

You fix cost of gas refuse to upgrade th3 grid for transmission and also refused tarrif hike and yet you want discos to perform. Highest form of catch 22 if you ask me.

God bless Nigeria

Is it a must to eat foreign rice?

From the comments here, it is apparent that slot of people don't havea single clue about the intrigues in the power sector.

All for show. Will the world end if he doesn't inspect inside the rain

They even had a camera man taking pictures in the rain.

I hope the camera man wasn't drenched too.

First and foremost most the 500billion is not a fine. It is a CRR levy that the CBN takes from the total deposits of banks and keeps in a non interest bearing account.

Speaking to the crux of the matter, I think the CBN needs to play its role as the apex regulator in a manner that is unbiased.

You ask banks to loan money yet you refuse create an enabling environment for recovery and collections.

Most nigerians are not credit worthy both at personal and business levels. It is common practice for people to borrow money in bank A and then move straight to bank B and start running another account. Banks sponsored the BVN initiative with the intent that it can be used to monitor transactions of people who like diverting loans and ultimately use that to bring them to justice. But alas to get CBN approval for banks to share loan transaction details on an open platform online real time is like trying to squeeze water out of a rock.

Another school of thought is that banks are making some much money and there is no correlation between these profits and state of the economy. Another school of thought connotes that this might just be another way through which the CBN being banker to the FGN is using to raise free cash for the government at zero rates.

After all it is not like the half a trillion will be disbursed as loans so my question what will cbn do with it?


Let's watch what will happen to money market rates in the coming weeks.

OnlinealabaPro:
Ayobo really has a poor drainage system and I wonder how people comfortably live there, well houses are cheap there tho.. but most of these houses are built on drainage ways blocking free movement of water

Check my signature, your electronics at best prices

Thank you my brother

Y'all build houses on flood plains and natural drainage ways meant for excess water and even block the man made drain pipes meant to serve as alternative passage ways with waste and yet y'all are blaming the LCDA authorities when the person solely responsible is the one you see when you look in the mirror every day.

Very ironic.

Congrats I wish them both a happy married life.

Two or three things I must point out. Her English is wrong. I bet she does not know the literal meaning of paid me off

Secondly it pains my heart when i see people behave as if marriage is final destination for them or s state of utopia of some sort where everything just falls into the right place. It is not


Finally her make up is too much

All these glitz and glamour for paltry 8.8klm of road?

The logos are ok for the amount paid in my own opinion.

You paid 1k each for the logos and you are practically asking him to travel to the moon to get moon dust for your logo.

The vendor even tried in my own opinion replying to your chat and even offering to replace the logos for you.

CapitalHYC:
Sounds great though ... but let us all reason this, it's so impossible for Sanwolu to complete 492 flats in 100 days... He should atleast give little credit to Ambode too.. he only mentioned Fashola.. God bless Nigeria.. God bless Us

Fashola started it ambode abandoned it sanwo-olu completed it

The TCN is just a moribund agency and if you ask me they should be sold to competent private hands but govt has refused to do this saying that electricity is a critical national asset and as such not all aspects of this critical asset (generation, transmission and distribution ) should be in the hands of the private sector. The same govt gas also refused to over haul the transmission infrastructure on ground.

I am yet to understa d how the collapse of the national grid is the fault of the disco when they are not the ones with oversight of the national grid.

God bless Nigeria