₦airaland Forum

FarahAideed:
I am not a believer in depending on tax to grow an economy because it's technically not even possible , tax can only help run govt administration but to develope and economy and create wealth you need to devise ways to make money from other economies by harness factors of comparative advantage and exporting them ..Nigeria must learn to harness the abundance of such factors it has and start monetizing with exports immediately.

Develop what? The same Revenue that you agree is not even enough...Can you be more specific?

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Inside Nigeria’s first smartphone assembly plant



The fact that AfriOne range of smartphones are said to be the “first Nigerian-made smartphones”, is true to a certain extent. The assembly plant located along the Oshodi Expressway of Lagos state assembles smartphones and other devices from imported components.

The AfriOne assembly plant was launched with the Champion and Gravity range of smartphones but will produce more consumer devices and accessories.

isthatso:
where else?

Who will pay? only 2% increase in VAT that affects luxurious goods. Everybody is up in arms against the Govt. Drag more people into the tax net seems a good option but it will not happen overnight.

FarahAideed:
No ministry has a budget of up to a Billion dollars ? Nigeria is not ready

You have a good point. But I have a question. Where do you suggest the money should come from ? Tax?

Buhari has a country to run while wailers have their mouth to run. If you do not agree, go and costest for election and win.

efighter:
Goatluck Jonathan wanted to do something and actually made provision to do something by getting some money from the national treasury, but Diezani Allison-Madueke needed to buy some jewelries worth just $40 million, so Goatluck gave her the money

Quite unfortunate..

Hero Abule. Jonathan, the unmitigated disaster walking on two.

Calabar Seaport Receives 1st Container Vessel In 13 Years

Published 1 on September 27, 2019

By YUSUF BABALOLA



Zenith Account Opening


Thirteen years after its concession, Calabar Port Complex has received its maiden Marguisa Shipping Line’s container vessel. The port has not enjoyed patronage of container liners due to draft limitations on the channel. Currently, Calabar channel has a draft of 6.4 meters at high tide, but requires Nigeria Ports Authority (NPA) to complete the dredging to the advertised draft of 9.4 meters to attract regular and bigger tonnage. But the berthing of the MV Boreas in Calabar signifies a milestone achieved through the strategic marketing of Ecomarine Terminals Limited, a terminal concessionaire in Calabar port.

The vessel has length of 116.23 meters, gross tonnage of 6569 and net tonnage of 2874. Built in 2007, the vessel working for a Spain based Marguisa, came with both laden and empty containers and securely anchored at ECM Terminals at about 13.27 HRS on Monday 23 September.

The general manager, ECM, Diran Akorede, who confirmed this said: “The berthing of the container vessel at our facility on Monday was the crowning moment of the several marketing efforts to attract a liner service to Calabar over the years.

“In October last year, we had preliminary discussion with Marguisa representative on possibility of commencing calls to Calabar. To make the call viable to Marguisa, we made several concessions on rates and co-opted other stakeholders into the efforts followed with road shows to sensitise potential clients. The maiden call of the vessel was the outcome of such efforts spearheaded by Ecomarine in conjunction with Marguisa.”



Akorede said, in preparation for receipt of container vessel, the terminal has invested massively on container handling equipment from inception of the concession most of which have been idle ever since.

“We are ISO certified and have well documented processes to ensure transparency and efficiency in our service delivery,” he said. “Our systems are fully automated and the facility is fully ISPS compliant. We also have paved stacking area that has remained unutilised over the years. For us, we have been prepared from the inception and therefore handled the discharge operations in the best professional manner.



“As a port, our pact with Marguisa is to provide and ensure efficient service delivery, quick turnaround for their vessel and incentive scheme to support their voyage profitability.

For us, the pact remains as long as the vessel continue to call our terminal.”

Akorede said ECM terminal is ready to receive more container vessels with its ultra-modern cargo handling equipment. Calabar Port has been plagued by the challenge of low draft due to the failure of Nigerian Ports Authority (NPA) to dredge the channel to the advertised draft of 9.4m and since shipping has evolved to bigger tonnages requiring deeper draft, the port has been seriously constrained.

The ECM manager therefore urged NPA to urgently complete the dredging of the channel to the advertised draft of 9.4m to ease the difficulty in attracting container vessel to the terminal.



He also enjoined the ports authority to introduce a more effective incentive scheme such as the 30 per cent rebate hitherto in place before the concession.

To further facilitate patronage and easy evacuation of cargoes, he said the government should ensure quick completion of the road contract from Odukpani Junction through Ikot Ekpene to Aba, already awarded to Julius Berger.



However, he acknowledged the purposeful partnership they have enjoyed with NPA over the years, especially the commitment of the managing director of NPA, Ms Hadiza Bala Usman who from inception of her tenure has given priority attention to resolving some of the key challenges that have bedevilled the port while emphasising the need for her to ensure the completion of the dredging.

https://leadership.ng/2019/09/27/calabar-seaport-receives-1st-container-vessel-in-13-years/

Vanguard is a known IPOB newspaper camouflaging as a National Paper. Its about time someone answer for their libelous publication

Vice President Yemi Osinbajo has written to Vanguard newspaper, asking for apology over a report in the newspaper that he collected the sum of N90 billion from Federal Inland Revenue Service, FIRS for election purposes.

The newspaper had in the report re-echoed claims by by Timi Frank, a political associate of former President Atiku Abubakar that the vice president is allegedly in trouble because he failed to give account of the alleged N90 billion collected to prosecute the 2019 election. But in a letter by Femi Falana, described the story as libellous as it was published without being based on any facts.

See the full letter below



September 24, 2019

Mr. Eze Anaba,
The Editor,
Vanguard Newspaper,
Apapa, Lagos.

Re: N90 bn FIRS election fund, Osinbajo’s problem, not 2023 politics-Frank

We are solicitors to Professor Yemi Osinbanjo SAN, the Vice President of the Federal Republic of Nigeria (hereinafter referred to as “our client”) on whose behalf and instructions we write this letter.

Our client’s attention has been drawn to your highly libelous story entitled “N90 bn FIRS election fund, Osinbanjo’s problem, not 2023 politics-Frank” recklessly published in the Vanguard newspaper edition of September 23, 2019.

In the story credited to one Comrade Timi Frank, your newspaper informed your large readership that our client’s travail “has nothing to do with 2023 but alleged mismanagement of about N90 Billion Naira (sic) released by the Federal Inland Revenue Inland Service (FIRS) to prosecute the last general elections in favour of the APC”.

The false contextual background and specific untrue and defamatory statement include the following:

“The presidency discovered how Osinbajo allegedly mismanaged N90billion from the Federal Inland Revenue Service (FIRS).

When confronted by the presidency, he confirmed to General Buhari that he indeed allegedly took N90billion from FIRS but it was used for the 2019 presidential election campaign in strategic states of the South-west.

Gen Buhari asked for a breakdown of how the money was spent and he said he gave N11 billion to Lagos state APC leader but when the said national leader and one former APC chairman were invited for an explanation, it was confirmed that Osinbajo gave only N5billion and not N11billion to Lagos state.

‘The cabal is asking to know how come they beat PDP in the South-west with less than 60,000 votes if the money was actually spent in the strategic states of the South-west as allegedly claimed.’

The activist insisted that if the information is true, Osinbajo must resign his position as Vice President, adding that such is akin to the characteristics of ‘yahoo boys.”

It is clear that the entire publication was a vicious, wicked and reckless ploy to impugn the reputation of our client and lower him in the estimation of right thinking members of the public. Without any scintilla of evidence you deliberately gave the dubious impression that our client colluded with the Federal Inland Revenue Service to divert public funds to the tune of N90 billion to prosecute the 2019 general elections in the South west region.

In view of the foregoing we have our client’s firm instructions to request for the immediate retraction of the offensive and derogatory publication coupled with apology prominently published in your newspaper.

Take notice that if we do not receive your formal retraction and apology within 24 hours of the receipt of this letter, we shall proceed with our client’s instructions to seek legal remedies including aggravated damages in the appropriate High Court.

Yours Sincerely,

FEMI FALANA, SAN

https://www.thenewsnigeria.com.ng/2019/09/firs-n90bn-election-fund-report-osinbajo-demands-apology-from-vanguard-newspaper/#.XYsxsCIejwU.twitter

RichDad1:
Is that part of his job description? Why not call the IGP?
We Nigerians are our own greatest problem.

They are looking for who will pay ransom. Dont be surprised that the same people who kidnapped the woman are asking Dare to rescue her.

This Buhari sef..

History will be kind to Buhari as the man who changed the way business is being conducted in Nigeria..

Thomas Cook is dead and 150,000 UK holidaymakers are stranded

Lianna Brinded,Yahoo Finance UK


It has immediately ceased to trade, leading to 150,000 UK holidaymakers stranded abroad and the biggest ever peacetime repatriation of British people.

“Thomas Cook’s collapse is very sad news for staff and holidaymakers. The government and UK CAA is working round the clock to help people. Our contingency planning has helped acquire planes from across the world – some from as far away as Malaysia – and we have put hundreds of people in call centres and at airports,” said transport secretary, Grant Shapps.



“But the task is enormous, the biggest peacetime repatriation in UK history. So, there are bound to be problems and delays. Please try to be understanding with the staff who are trying to assist in what is likely to be a very difficult time for them as well.”

Thomas Cook said in a statement on Monday that the group failed to secure more cash it needed to stay alive and now the firm has entered compulsory liquidation.





The UK Civil Aviation Authority (CAA) confirmed Thomas Cook has "ceased trading with immediate effect. Fankhauser also apologised to “our millions of customers, and thousands of employees, suppliers and partners who have supported us for many years.”

“Despite huge uncertainty over recent weeks, our teams continued to put customers first, showing why Thomas Cook is one of the best-loved brands in travel,” he added.

The collapse of the tour operator has put 22,000 jobs from around the world at risk, of which 9,000 are in the UK.

Where it went wrong

Thomas Cook has encountered a range of issues over the last year, leading to job cuts and store closures. The travel group also put its airline business up for sale after a heat-wave in northern Europe last summer put holidaymakers off last-minute deals.

This led to a number of profit warnings. Thomas Cook warned earlier this year that the European travel market has become "progressively more challenging," which has led to a dent in its finances and has made it difficult to sell its tour business. This is when it entered talks with banks and Fosun – its largest shareholder.

Meanwhile, it ran up debts of £1.2bn ($1.48m) and made a first half loss of £1.5bn as it battled a weak bookings market and asset

https://ca.yahoo.com/finance/news/thomas-cook-is-dead-and-150000-uk-holidaymakers-are-stranded-055724041.html

9jatriot:
Thanks Deji, someone also drew our attention to that. I believe they have corporate accounts with a higher limit and do not make the vast majority of people who have been shouting on the internet.

But on a side note, someone will spend the first 25 years of their life schooling only to be wearing suit and earning 50k salary whereas some of these traders who are looked down on will be cashing in.

Thanks.

I'm hoping CBN should review the entire policy in its entirety. Banks should be more focused on getting out Loans to borrowers and make their profit on the interest.
This policy has the potential of making people to start hoarding cash in their house and refusal to take it to the bank and other effects too.

9jatriot:
There are not many people who earn 500k and above in Nigeria as salary and businesses that earn that amount daily in sales do not keep it as cash rather they pay for more products and are constantly cycling the money.
Those who earn that much get their salary in their accounts and not by hand.

Since CBN introduce the policy of paying charges on withdrawal and deposits above 500k daily, not monthly o, daily, suddenly everybody has become so rich and are now the target of Buhari.

So those of you who just one week ago were complaining that bag of rice was too expensive and have suddenly started making 500k this week should come and tell us the business they suddenly started doing this week that generates cash revenue or requires payments to only be done in cash.

For example a lace seller at Balogun market or a medium supermarket will make sales in excess of N500K a day.

Engage her in open affection. Commend her, shower her with love and affection openly, especially among friends and family members. Renew your wedding vows and celebrate your marriage anniversary every year. Make a big deal out of the wedding anniversary. Never take her or her oppinion for granted. This would do the magic
Thank me later.

Imagine if the CBN Gov had been from Kano state and the recipients of this gesture are from Katsina state. Children of hate and anger would have been crying Nepotism, Northern Agenda etc. Is this a Southern Agenda?

Awon oponu

You mean Atiku is not cumming?

Im happy about this one. Which means Atiku will be
PDP Presidential candidate in 2023.. Like Jimi Agbaje, Customer dada ni.

We played way better in the first half. The second half play was poor.

Apination:
Nigeria just got robbed

No doubt.

Second Goal was scored with the Hand. The referee, Linesmen and VAR are all blind

Second Goal. Not good

Ukraine Scored. Not good.

Second Goal.

I'm happy..

World, watch out for these Boys.

somehow:
If Nigeria win by 3 goals margin, I will dash 3 users that quote me #10k each.

I no need your N10K. But I still quote you . The boys are playing well and it gladdens my heart.
I see Ukraine is currently fighting back. Whoever has the stamina will surely carry the day.

Almost another GOAL there. These boys are Super Men. Brings back 1994 Memories

Niyinficient:
Chukweze na!!!!!

Rashidi Yekini replacement is finally here. He is the one we have been waiting for.

CHUKWUEZE!!!!!!!!