₦airaland Forum

ferdvict2:
Nigerians woke up this New Year to listen to President Muhammadu Buhari’s New Year address to the nation in which he made many promises and undertakings.

One of the things he said is as follows:

“My address to fellow Nigerians this morning is devoted mainly to informing you about the intense efforts this Administration is putting to address our country’s huge infrastructural deficit.

We are going to make significant in-roads in advancing road, rail and power projects across the country.”

Muhammadu Buhari has been President for over two and a half years. He has less than one and a half years to go.

If by now he is still talking about “we are going to” shouldn’t alarm bells ring in your mind?
The man has spent more than half his term and he is not able to tell us what he has done in tangible terms. Instead, he is still telling us what he plans to do.

To paraphrase the Yoruba adage, if you have used two and a half years to prepare for madness, how long would the madness now last?

Then the President characteristically threatened oil marketers and again characteristically, blamed them for the fuel scarcity that occurred during the Yuletide.

Said the President:

“I am determined to get to the root of this collective blackmail of all Nigerians and ensure that whichever groups are behind this manipulated hardship will be prevented from doing so again.”

This is so typical of Muhammadu Buhari. Failure to take responsibility. The man is the minister of petroleum. The buck should stop at his table.
Nigerians will notice how he failed to address the revelations that he, who had spent years discrediting fuel subsidy and alleging that Jonathan and his government used that policy to scam Nigerians, had been secretly and illegally paying fuel subsidy, currently at ₦26.40 per liter.
The Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, told newsmen that he was instructed by the President to subsidize the cost of petrol. There were no provisions for subsidy in the 2016 and 2017 budgets. So where has the money been coming from?

The other day, the minister of state for petroleum resources, Ibe Kachikwu, exposed that Baru had awarded $25 billion worth of contracts without due process. Did the money come from there?
And now the man who should address this unconstitutional appropriation of Nigeria’s resources is now threatening marketers. The same marketers who have revealed that the NNPC is owing them $1 billion and that under the current policy they can’t make a profit!

Are they meant to stay in business to make a loss?

And then the man goes on to lie that power generation has ramped up to 7,000 megawatts (MW) forgetting that previous administrations before him set up the Nigerian Electricity System Operator which is statutorily required to publish the verifiable amount of power generated in Nigeria.

Now, according to the Nigerian Electricity System Operator, the amount of power generated in Nigeria is 4,108MW. I deal in facts and I have an unimpeachable reputation for the facts. If any member of the Buhari administration can contradict the data from their own government agency, Nigerian Electricity System Operator, I make a public vow to apologize to President Buhari in a full page advertisement in a nationally read newspaper.

The fact is that President Muhammadu Buhari lied!

But the greatest insult from President Muhammadu Buhari’s New Year address was when he said “The government is slowly stabilizing the economy.”

Really? No other administration has destabilized Nigeria’s economy as the Buhari administration.
Under Buhari the nation’s currency shed 75% of its value and moved from ₦199 to $1 on the day he took over to ₦365 to $1 today. We had the unenviable record of being named the fourth worst performing currency in the world by Bloomberg in 2017.

Inflation, which was at single digit rate on the unfortunate day Buhari was sworn in on May 29, 2015 is now at 15.91%.

According to Debt Management Office, the total external debt of the federal and states governments on the day Buhari was sworn in stood at $9.464 billion. In two years time, the Buhari administration has increased that debt by 50% to $15.047 billion as at September of 2017. And if the 2018 budget is anything to go by, then this amount will double this year.

Taking everything he said during the broadcast, the least you could say is that the President engaged in lying on a mass scale. Lying and responsibility avoidance.

The conclusion is that Nigeria is going to see the same old same old under Buhari in 2018. If problems arise, he will look for who to blame rather than look for a solution.

The best thing this nation can do is to pray that this nightmare comes to an end in 2019 and the President can go and tend to his 150 cows that somehow never increase in number. At least they have fared better than the Nigerian economy under Buhari.

source: https://www.vanguardngr.com/2018/01/exposing-the-lies-contradictions-in-president-buharis-new-year-address-reno/

The Nigeria Electricity System Operator

POWER TRANSMISSION ATTAINS NEW PEAKS OF 5074.7MW & 109,372MWH
Date: 03 February 2016


https://www.nsong.org/MediaPublicity/NewsDetails.aspx?NewsID=52

potterdon:
please carry ur stupidity and use the door whatever waste of a state u came from just have it in mind that the Igbos are not hungry people and urself made statistics is just an example of ur bigot ways. how many afonja or almaijiri investment are in the east. If at all u guys have anything.

Cooly100:
Biafra can never die...

Biafra wants to be like Ghana, Ethiopia..where things are happening. They want to leave dead Nigeria to you...where you are clueless...and nothing seems to work.

Were there fuel queues in Ghana and Ethiopia during Xmas periods, despite that Nigeria has huge oil reserves...?

See...

During the opening match of the qualifying round for the 2018 World Cup, Chinedu Gabriel, 27

MicheyJ1:
After surviving the hunger and hardship under Buhari's regime in 2017. Only to die by road accident. Really sad

loveth360:
The chairman of CAN is a yoruba man so am not surprise.

potterdon:
Mtcheewww wishful zombie thinking his master buhari will give him attention/special treatment

FrancisDiote:
Before you start a business even without going to a business school, you must make your visibility study.

Know what business will thrive in which area and most importantly use readily available resources.

Now is it not wise to invest in ports in the south where you already have advantage and invest in something else the North already has?

You only start new investment when you know the economy is stable, not pumping billions in war ravaged Borno state to explore oil when you should be investing the money in the economy.

I am not against investment in the North, but first thing first. Nigerians have gone through hell since APC came into power. This is not about party affiliations or religious sentiments, it's about the economy

potterdon:
lol buhari will be the death of this country u better take ur advice. Buhari and Atiku are going to be the last straw to break the carmels back. I wish u can leave Gej alone he is not the current issue at hand ur inland port will not have any useful effect. It will only cause a bigger problem because it's a perfect hot zone for boko haram attacks and other vices.

FrancisDiote:
Misplaced priorities. Why not invest in already existing ports and dredging the ones that needs to be dredged.

Have they stopped the oil exploration in the North? This government needs to started thinking straight

Alikote:
bar tending ..he cant comprehend it heavy crude ..he doest know we import crude for kaduna refinary dunce

Blue3k:
Nigeria already does where have you been.

Alikote:
Guys they post 200 thousand pounds trucks this one they post receipts abi u be bar attender taught u where a player in the down stream oil market...whoaa i wasted my time

Adminisher:
No I support the APC government in its economic nationalism and import substitution policies. I support Dangote Refinery but the Modular Refinery idea is stupid and silly pandering to Nigeria Delta youths. The things will blow up in two years one by one . I am not saying this idly.
Regulation is impossible in the Niger Delta and slackness, laziness and lackadaisical attitudes common place. Look at the complexities of inspection and corrosion control alone.
Big nonsense those modular refineries.

Adminisher:
Dangote Refinery is in Nigeria's listing of strategic national projects. Government will support it for FOREX conservation, GDP growth, skills incubation.

Let me talk about skills incubation. Do you know Nigerians were the second best Petroleum Engineers in the world from 1995 to 2003?. This came about because of Shell , Exxon, Mobil.
Nigeria probably earned $10bn USD from diaspora remittance from skilled petroleum Engineers, drillers and other skill areas in 20 years.

We can do the same for petrochemicals the same way Indians are making money in the middle east.

Adminisher:
Please not that there are > 1 million barrels refineries in India and the UK. They were not single build. They were expanded over decades to those capacities.

This is the same things we said government should do to exiting refineries instead of putting stupid modular rust buckets all over Niger Delta that nobody will go to maintain or regulate.

This is the most IGNORANT country on earth and it is the young people below 40 who are the worst.

ImadeUReadThis:
God what is this unpaid dangote ass licker on about?

Happy New year zombies

May your sufferings continue well into 2019

ImadeUReadThis:
World's largest refineries
https://en.wikipedia.org/wiki/List_of_oil_refineries

I didnt know that there is now Dangote Media Centre

“This is the biggest industrial site anywhere in the world from the fertiliser, petrochemical and refinery plants.

“Our refinery will be 1.5 times the capacity of all the existing four refineries in the country even if they are working at 100 per cent capacity.

“This is the single largest refinery in the world. The petrochemical that we have is 13 times bigger than the Eleme Petrochemical built by government,” Dangote said.

https://www.cbn.co.za/news/dangote-refinery-africa-s-biggest-refinery-takes-shape

The Dangote Group is building the largest single train petroleum refinery in the world with a production capacity of about 650,000 barrels per day. Edwin Devakumar, Group Executive Director at Dangote Industries, spoke to CNBC Africa's Esther Awoniyi about the project.


The fertiliser plant is gas based and [b]it will produce ammonia and urea and it's the world largest with an output of 3 million tonnes per annum coming out from one location and it's likely to be complete by the end of the year.

http://allafrica.com/stories/201706300355.html

Omeokachie:
I know how Richard Branson walked away from his investment in Virgin Nigeria. Today we have no Virgin Nigeria to talk about.


Therefore being saddled with bank charges will not deter a businessman who sees his business interest no longer tenable.


Marketers did nothing wrong this Yuletide. NNPC is still owing them N800b. The spin backfired when NNPC tried to hoodwink nigerians.

The Minister of Petroleum failed nigerians this Yuletide!

Omeokachie:
I guess it would be the "game" changer should Dangote change his mind and decides that his business interest is no longer in building a refinery!

ImadeUReadThis:
Ever wondered why all the major multi-national oil companies, who have been operating for decades in the oil sector have never for once considered setting up refineries in Nigeria but one staple food distributor is?

The big oil companies have avoided the downstream sector because there exist no rule book or legal framework deregulating the sector. The now watered down and over delayed PIB is also not helping matters as it doesn't provide enough legal backing to would be investors in the down stream sector.

However, Aliyu Dangote - a master of lobbying for govt patronage, subsidy and monopoly is going ahead with his refinery because he has the assurance of future Govt protection in solidifying his monopoly of the downstream sector.

How will he achieve this?

Well he already has since he had free land donated to his refinery by the Lagos state govt, and will also enjoy years of tax breaks from both the FG and Lagos FIRS.

Dangote was also able to secure forex subsidy in importing parts for his refinery and will be guaranteed crude sales from the state owned NNPC at a parallel rate that will be lower than what oil will be trading internationally.

The successful and high profitability of Dangote's refinery when it finally comes into operation, will also see Dangote building and commisioning another refinery within 5yrs his Lagos refinery kicks off.

As Dangote continues to enjoy preferential treatment and smile to the billionaire club, note that it will come at a heavy cost to opening the door for other would be investors leading to the erosion of potential jobs, lowered tax returns to the govt and the Dangotization of our Aso Rock through his bribery lobby.

So keep clapping for Dangote as he goes in dry and hard on your ass

plaetton:
Only idiots, unthinking fools, ignore the message and attack the messenger.

The man made very very important and salient points, Facts, I remind you, of the Nigeria's ballooning and alarming energing debt profile.

Now, if your brain had any substance other than throwing insults, the easy thing for you to have done is to either prove that he was lying or misleading on the facts, or, show with intelligent argument why the ballooning debt profile is not such a bad thing in the short or long run.

The silly, kneejerk reacting zombies seem to be allergic to facts.

Must a person , a senator at that, be a saint,100% free of personal and business issues before he can comment on burning national issues ?
It is because of the teaming multitude of brain dead zombies like you that this potentially great nation is trampled, one after the other, by cows and goats parading as leaders.

Soulpower:
Leave Okinji the father, leave N. Okonji the former minister, let's come to her son and daughter, I don't think in your lifetime you will be able to achieve what they did. Now go sit down and enjoy your miserable life. Don't quote me.

ajl:
Gentleman. It seem it's not obvious to you that we are coming from same direction. No one is speaking for anybody. There is a video and statement from the video. You can interpret it in different directions based on the historical context. You often dont make judgement after a sungle event. You look at the precedents and the players. Who is defending Jonathan? Am not just pointing out the weakness of Jonathan but the recklessness of the entire political class including the governors. Politics is not a one man show. If it is, am sure Buhari would have thrown all those he perceived as corrupt into jail without going to court. Apparently an average Nigerian does not understand how a country is run or understand the complexity of their every day decisions.

ajl:
Good video. But you need to understand the meaning of "Political Will". Political will could be as much as a single head of government as well as an entire population of a country. And more so she can't be delving into national political in-fighting about the fund while addressing from an international platform. But we Nigerians understand what she meant by lack of political will. In that case, it was the collective will of the political class. The result depends on which is stronger. The people's will or that of the ruling class and its governing units?

billante:
And buhari started borrowing from the last year of his tenure right?

Demdem:

The fool was borrowing even when oil was sold at record high yet ipobians and nonentities are complaining that Buhari is borrowing when oil was sold at low prices.

FG Has Borrowed A Total Of N2.57 Trillion Under President Jonathan

Under President Goodluck Jonathan, the Federal Government has borrowed a total of N2.57tn. Thus, the Federal Government’s debt profile rose from N4.18tn as of June 30, 2010 to N6.75tn as of June 30, 2012.

https://www.naija.ng/16198.html

Fawklicant:
Unfortunately the gravity of burning national issues is lost on you as you can't see beyond party affiliations hence your always skewered albeit myopic defence of even the most incredulous notions. I don't have the time now to start adult education with you. You can crawl back into your hole now.