DieVluit's Posts
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EVarn:Then the WHOLE investor world is "misguided" because Nigeria remains a frontier market. >>> http://www.thinkadvisor.com/2014/09/11/finra-warns-about-investing-in-nigeria-lebanon-oth What on earth is a primary facility? Even you don't know. All markets have consumers and producers so that's irrelevant. It has a stock market? That's irrelevant too, except that your stock market could be fitted a couple of times over into South Africa's by value. You CONFIRMED without any prompting that Nissan SA supervises Nissan Nigeria. And you were right. SA exports more cars. SA refines more crude volumes. That's undeniable. And your own words were "SA has a bigger industry". That means more productivity, my friend. And you confirmed it. |
EVarn:What could be more "eye witness" than the rebels themselves? http://www.timeslive.co.za/thetimes/2013/04/03/sa-soldiers-carved-us-up-say-rebels South Africa carved us up, they said. |
EVarn:You cannot be a frontier market and something else at the same time. Nigeria is frontier. Growth is not development. And if South Africa refines more than you do and if South Africa exports more cars than you do, then your own productivity is pathetic then. I quote: http://www.marketwatch.com/story/getting-into-west-africas-frontier-market-2013-12-20 "The main challenges the country faces is building refinery capacity, diversifying trade volume beyond oil and building infrastructure." And you cannot be supervised by South Africa if you know what you are doing. In your earlier post, you voluntarily CONFIRMED that you are being supervised by South Africa. That alone says it all. Please bra, don't make me laugh. More strategic? Exactly! |
EVarn:Seleka waved the white flag, not the SANDF. |
MikeCZAR:Most importantly, BH has their girls. BH has their people. BH has their land. What could be more prized in a war? |
EVarn:Nigeria is a frontier market. Even you confirmed it in your confused way in earlier posts. But then again >>>> http://www.marketwatch.com/story/getting-into-west-africas-frontier-market-2013-12-20 Frontier, sir. That's what you are. Nigeria is still new and is being supervised. Exactly! Headquarters in SA - Exactly! Through SA base - Exactly! And the industry is not just about companies, it's also about systems and such. On refining the FACT OF THE MATTER is that South Africa has more refining capacity than Nigeria. End of story. SA has bigger industry? Exactly. And put all this together and say it with me - "Accordingly Nigeria is not yet fit to sit at the table of emerging markets". |
agaugust:And what is the US's for perspective? South Africa is a long way from defaulting, so there's nothing wrong with debt - good debt. But there is everything wrong with bad debt - like borrowing money to fight an insurgency à la Nigeria, which ranks two grades below investment grade. But we don't want to make you cry so let's get to the main point, which is that it is not South Africa that imports like mad and that has depleted foreign reserves today. It is Nigeria. |
agaugust:Of course he does not look like a crying baby, sitting there looooong after the battle of Bangui. It's what happened DURING the battle that's up for discussion. Seleka cried like babies and waved the white flag. On the Nigerian side, how many times have your boys run from BH? People have stopped counting and BH holds the most prized possession anyone could hope for in battle - territory. |
agaugust:LOL "A mere speedboat that even civilians have". But the Toyota Hiluxes that are the mainstay of your boys are also something that even civilians have. It's not about the value or scarcity of the equipment, it's about the act of your boys being stripped of their equipment on the regular. |
EVarn:Here is your reality check: 1. Nigeria is a frontier market. 2. Nissan nigeria reports to nissan SA. Nigeria's auto industry was set up with the help of SA. 3. SA has more refining capacity than nigeria. 4. Nigeria's stock market is only a fraction of SA's in value. Reality check bra. Stop dreaming. |
iterator24:Oil is 80%+ of your foreign earnings. Which is why you're in trouble today. No buyer is enough at this time because the price is too low for you to have a healthy budget. |
agaugust:How do you know BH has no MRAP? It's not like they keep an inventory for you to inspect? All we know is that BH has routinely seized your equipment. |
iterator24:Why, what's Ghana got to do with Japan's and SA's PPP? |
EVarn:Whether there is a universal definition of a frontier market or not, Nigeria remains a frontier market by ALL AVAILABLE DEFINITIONS. Nigeria has no fundamentals or sophistication that would make it a proper emerging market, which is why BRICS did not even cough when Nigeria became the biggest by GDP in Africa. And to prove my point, Argentina has been considered ahead of Nigeria >>>> http://www.ipsnews.net/2014/06/argentina-once-more-on-the-map-invited-by-brics/ "Emerging frontier market"? There is no such thing. No market wants to be a frontier, so you cannot emerge to be a frontier. You want to be a developed market, so you emerge as such - hence, emerging market. http://www.investopedia.com/articles/investing/092013/difference-between-emerging-and-frontier-markets.asp Your automobile industry was built based on the advice and support of your more sophisticated brother, South Africa. http://www.nigeriaautosummit.com/speakers/alexander-erwin-invited/ http://www.iol.co.za/business/news/sa-forges-links-with-nigeria-in-motor-sector-1.1759430 Even financing purchases will have "South Africa written over it". >>> http://www.vanguardngr.com/2014/10/fg-signs-agreement-safrica-bank-car-finance/ You don't have the institutions, my friend. You don't have the structures. You don't have the systems. WHICH proves my point yet again, South Africa has the sophistication. Nigeria does not. And no, you have no export orientated petrochemicals industry outside of crude if you import finished product. For a crude producer, that's an indictment. You even are the biggest importer of Kerosene from the US, even though the US will have nothing to do with your crude. Ironic. http://businessdayonline.com/2014/05/nigeria-emerges-biggest-importer-of-kerosene-from-us/ The Nigerian economy is primitive my friend and your "advantages of devaluation stance" recognises that. Nigeria does not have a manufacturing industry capable TODAY of being a significant source of foreign earnings. You wouldn't have waxed lyrical about your "advantages of devaluation" if you thought that you had things in place. You yourself recognises the fact that you do not have things in place. And it is not South Africa that relies on oil for its foreign reserves, so fracking in South Africa is irrelevant from that angle. Fracking in South Africa is not about exports but it is about moving away from coal. But seeing as you mentioned this, South Africa has more refining capacity than Nigeria and the irony is that South Africa has no oil. >>> http://www.punchng.com/business/energy/nigeria-lags-behind-african-counterparts-in-refining-capacity/ And please quote me if you are responding to me. I check my mentions not the whole page. |
agaugust:Wannabe accountant ![]() In Nigeria's case, the fall of the Naira meant the depletion of your foreign reserves in an attempt to save it. Close to $30 bn was spent trying to save the Naira and in the end that didn't help. Your depleted foreign reserves is a great injury to an economy that knows only importation in the main. The fall of the Naira also meant that your rebased GDP has lost upwards of $ 40 bn in value. The weakness of the Naira means that the cash in the hands of every Nigerian will buy less. You do know that "cash is a store of value", don't you? Well, you cash stores less value today. My friend, all these things and more spell weakness. Your question about Japan shows how much of a simpleton you are. If you really were educated in 'these things', you wouldn't even have asked it. Japan has the fundamentals. Nigeria does not, which is why I speak only about Nigeria and not Japan or anyone else. The fall of the Naira has exposed the weaknesses of the Nigerian economy. Not that we didn't know about them anyway. http://businessdayonline.com/2014/12/oil-price-crisis-exposes-failure-of-nigerias-economy-managers/ |
lezz:Symbol of a dying flame like the US economy is recovering today, as we speak? Sure, dude. Growth at 5% is not development. Development is doing things that make sure that you don't have devalue your naira when the oil price goes to the dogs. The South African economy is the most sophisticated economy in the entire continent of Africa, far richer than Nigeria's and most developed. Growing in size did not save the naira. The Nigerian GDP has failed to save you. We are no saying this to hurt you but it just is what it is. |
Henry120:Dismissing the authors does not deal with the content. And also, there's no proof that Nigeria is well equipped and capable. On the contrary, the very fact that we are still talking about this would show that there is no capability. The proof would lie in Nigeria delivering victories, but there is no sign of that. |
EVarn:Exactly! It is not pap en vleis, so don't make it seem like everything is good and dandy with the Nigerian economy. Everything you've listed is how Nigeria could TRY and come out of the hardship it is in less injured that it otherwise would be. Your list and examples are definitely NOT the advantages of devaluation. If you're outdoorsy and it rains outside; and you use the time indoors to clean your house, you can't say that the advantages of rain are a clean house. That makes no sense. A house should be clean, rain or shine. And so should a Nigerian economy be diversified, devaluation or no devaluation. But it's not diversified sufficiently in respect of foreign earnings.Your primary argument is that evaluation offers advantages to an emerging economy like Nigeria and I say that is illogical. You are just trying to console yourself. And while we are at it, Nigeria is not an emerging economy. It is a frontier market. http://en.wikipedia.org/wiki/Frontier_markets What this means is that the things that you so easily assume can be done, you do not have the economic infrastructure to do. Physically, Nigeria has no manufacturing capacity. On the soft infrastructure side, Nigeria does not have the systems, support industries and regulatory enablers. http://www.thisdaylive.com/articles/nigeria-ranked-147-out-of-189-in-world-bank-s-doing-business-report/163019/ Look at the sub-categories of the 'ease of doing business' index if you doubt what I say. There's a looooooooong ass road ahead. Very long. Nigeria's best bet at the moment is that the oil prices recover, which will not happen anytime soon or at all, because this is a fundamental change in the oil price cycle. So yes, you can try and build up your diversification and manufacturing and exports, but don't tell us that this is a direct advantage of devaluation. It is only a NECESSITY highlighted by the devaluation. And the devaluation was also a necessity. You had no choice. There will be another devaluation too, if you aren't careful. You then have no choice today but to try and build up your fundamentals, which already assumes that you don't h ave them (which is why you are frontier and not emerging). And doing it successfully will not be pap en vleis. The examples of Asian tigers make no sense. Because the Asian tigers were triggering markets that were already supported by something. They certainly did not have fundamentals that are as hopeless as Nigeria's. And also, the economic stories of individual countries will not be the same, so miss me fam, with high-level examples. Nigeria's desired export market is supported by nothing today. Hell, a country that imports diesel notwithstanding crude being it main products can't say it's ready. If Nigeria were ready, there'd be refineries of respectable capacity out there. As we speak today, there's fuel scarcity in Nigeria. http://leadership.ng/news/metro/397281/fuel-scarcity-dpr-releases-335-trucks-fuel-fct |
EVarn:LOL Increase in exports of what when 80%+ of Nigeria's foreign reserves comes from oil. The same oil that the world wants only at low prices? Exports of what when Nigeria has no money to build or import raw materials requires for manufacturing? You are dreaming. Exports of what when Nigeria will pay more money when it looks to import raw material priced in foreign currency? There will be no increase in exports, mate. If devaluation was so good, EVERYONE would be doing it. It's an easy thing to do. The only advantage of devaluation is when you are in the dwang already because you then GIVE UP and stop defending your currency. But Nigeria is still failing to stabilise the Naira and will have to devalue it again. I think you don't even know what devaluation is, let alone what its implications are. The rest of your post is not even worth commenting on, save for ONE THING. "It's all on paper" like the Nigerian GDP.. If the loss is on paper, then the gains are also on paper, not so? As for your "would be" comment on SA, it remains that...a "would be" story. Not an "is', as is the reality of Nigeria today. |
EVarn:But what is the value of the Naira against the RAND? Let alone the Dollar? And then to show how bad the Nigerian situation is: 1. Aliko Dangote has lost half his networth because of the devaluation - Biggest loser/biggest victim of oil prices 2. The Nigerian economy has had $40 bn slashed off it. So your GDP has shrunk by $40 bn, in other words. 3. Nigeria has introduced AUSTERITY - so the ability to complete new projects has been impaired. Unhappy officials who can't go on joyrides anymore will resort to more corruption to maintain their lifestyles. 4. Next year's budget assumes an oil price of about $65 bn/bbl - Rainy days there, mate. 5. Foreign reserves need to be rebuilt, which will not happen today while Nigeria faces a storm. 6. Business for street traders has been reduced by both the devaluation and the insurgency. 7. Next year, the elections will suck from the non-existent budget. 8. Foreign investors continue to exit Nigerian stocks. Everyone is " CRYING FOR MONEY" >>> http://www.bloomberg.com/news/2014-12-23/nigerians-crying-for-money-as-naira-drop-boko-haram-hit-trade.html See here .... http://www.forbes.com/sites/mfonobongnsehe/2014/12/23/africas-richest-man-aliko-dangote-loses-7-8-billion-as-naira-stocks-plunge/ You have no business worrying about the Rand. And this is NOT a blessing for Nigeria. It's a curse. Things are hard - says the extract. Your research is no research. It's someone trying to console himself.
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Henry120:Merry Christmas |
bidexiii:... |
mzilakazi:The Naira will be devalued further because it it trading outside its target band. And the devaluation has slashed $40 Billion off the Nigerian economy. |
Merry Xmas Ogas and Ogettes! |
Chaos here. ![]() .. On Wednesday, the Nigerian Army’s 7 division General Court Martial convicted 54 soldiers for conspiracy to commit mutiny and mutiny and sentenced them to death by firing squad. In a trial that began in October, the soldiers, from the 111 Special Forces, were charged for disobeying a direct order from their commanding officer, Timothy Opurum, a Lieutenant Colonel, to take part in an operation to recapture Delwa, Bulabulin and Damboa in Borno State from Boko Haram terrorists on August 4. Some of the accused soldiers testified that they refused to take part in the operation following the failure of the army to provide them with the necessary support equipment. They explained that owing to a lack of equipment, they lost three officers, 23 soldiers plus 83 others suffering various degrees of injuries after their units were ambushed by Boko Haram fighters during an operation to retake the town of Bulabulin in Borno on July 9. Some of the accused soldiers said they did not attend the briefing where the operation was announced, while others said they did not join the mission because they were ill and there was no medical personal attached to their unit to give medical assistance. Two other soldiers said they were given leave to attend to some administrative problems as at the time of the briefing. Much of the trial was conducted in secret as journalists were barred mid-way into the deliberations. PREMIUM TIMES has now obtained a copy of the closing addresses of the prosecution and defence just before the soldiers were convicted and sentenced. Below are some of the main points argued by opposing counsel. The Prosecution The prosecuting counsel, J.E. Nwosu, an army captain, in his closing address, argued that the soldiers conspired to commit mutiny by refusing to obey a direct order from their commanding officer to take part in the operation. Citing related cases and judgements, Mr. Nwosu argued that on the first count of conspiracy to commit mutiny, the accused need not have met, held a meeting or communicated with one another to fall foul of the charge. “My Lords, as the court held in Nwosu Vs The State (supra), proof of how the conspirators connected with or among themselves is not necessary,” he said. “Indeed these soldiers need not know each other. They need not have even started the conspiracy at the same time. Also express words need not pass between each and every one of the conspirators who do not even have to meet physically.” He said the soldiers were walking “lackadaisically” in camp and refused to attend the briefing. He said they refused to leave their trenches and tents even after the commanding officer personally went to them individually to plead with them to be part of the operation. He said the soldiers’ demand for provision of adequate support equipment before they take part in the operation was a “hollow excuse.” “The situation was so terrible that commissioned officers had to drive operational vehicles themselves since Bn [battalion] drivers were part of the mutineers,” he said. “All the actions of the accused soldiers happened at the same time and the prosecution contends strongly that they shared a common criminal intention to mutinise against the authority of 7 Div. The prosecution humbly submits that there must not be a formal meeting of the conspirators before they could be said to have conspired,” he said. Mr. Nwosu argued that the soldiers were guilty of mutiny as charged for refusing to obey a direct order from a superior to take part in an operation for which they are paid. He said the soldiers chose to join voluntarily and should have explored the available channel of leaving if they felt they cannot cope. “My Lords, as very senior officers, you are aware that the (Nigerian Army) is not a conscript army. Joining the NA [Nigerian Army] is a voluntary act and if a service personnel feels he cannot cope, there is a procedure for discharge which these soldiers are familiar with. The NA is not an organization with a trade union where members down tools to protest poor wages or poor working conditions. “We strongly argue that their decision not to participate in the operation was not excusable. The prosecution submits that this second element has been proved before the court and therefore urges the court to so hold.” The Defence The defence team, made up of Femi Falana, a senior lawyer, and O.A. Oyebanji, a retired army major, opened its closing address by pointing out that its objection to the judge advocate of the GCM [General Court Martial], who is the legal adviser of the Commander, Army Headquarters Garrison, which conveyed the GCM handling the case, was overruled. Citing definitions of mutiny from several legal authorities, the defence argued that the first count (conspiracy to commit munity) was a duplication and thus defective as conspiracy is embedded in the definition of mutiny. It also added that the count did not disclose the act of mutiny the soldiers conspired to commit. “We therefore submit that count one is bad for duplicity,” the defence argued. “We also wish to submit that this charge as preferred is vague and ambiguous. The particular of offence didn’t disclose the actual act of mutiny which the 59 accused soldiers conspired to commit. “My Lords, it is not part of our system of criminal justice that the contents of a charge should be subject of speculation and inference. The law is clear that the essential elements of an offence should be disclosed in a charge.” Mr. Falana also said that the charge as it was presented violates the soldiers’ constitutional and human rights to fair trial and so should be quashed. Arguing that the charge of conspiracy purports an agreement between two or more persons, he stated that the prosecution failed to prove that there were prior agreements by the accused to commit the alleged crime. “My Lords, from the totality of evidence adduced in the course of this trial, the prosecution has failed to establish that there was an agreement between the 59 accused soldiers to commit mutiny. It is strongly contended that the prosecution has failed to establish the existence of any previous agreement to be mutinous in the face of irrefutable evidence that all the accused soldiers were not in the same place on that day so could not have formed the necessary common intention to ground a charge of conspiracy.” He argued that the court-martial lacks the jurisdiction to hear the case since the soldiers belonged to the 111 Special Forces Battalion and not the 7 Division. He asked the GCM to dismiss the case on that ground. On the second count of mutiny, Mr. Falana said the order from the commanding officer was an aberration of Nigerian military protocol where commanding officers are not allowed to pass orders directly to soldiers. He said since the commanding officer did not follow laid down army protocol, the order was not legitimate and the soldiers were under no obligation to obey it. “Was the order legitimate and did the order followed the normal and standard procedure in the Nigerian Army for such an order? The obvious truth is that a Commanding Officer has no business giving operational orders or order to advance directly to soldiers. It is within the general service knowledge that a Commanding Officer is not expected and should never descend to the level of directly giving an order to a platoon or section to advance.” Mr. Falana argued that soldiers demanding better weapon to fight the enemy could not be said to have been involved in mutiny. He also added that from evidence provided during the trial, the accused soldiers have distinguished themselves in previous combats with the insurgents and thus could not be accused of cowardice. To buttress the gallantry of the soldiers, the defence counsel recalled how the soldiers were mobilised to extricate their commanding officer and other soldiers who had been pinned by superior fire from Boko Haram in Delwa on August 20. He said the soldiers did not only carry out the mission successfully, but also managed to recapture the town from the insurgents. “We therefore submit that the accused soldiers didn’t deliberately and by collusion disobey the order given by the Commanding Officer,” Mr. Falana said. “They only requested for adequate support weapons commensurate to the weapons being used by the insurgents. They never said that they won’t fight rather they were ready and willing to fight if they are properly equipped. Their actions rather than strike at the foundation of discipline have ensured cohesion and unity. They had fought the Boko Haram insurgents with courage, commitment and loyalty to their country. They deserved commendation and not condemnation.” In a statement Thursday, Mr. Falana faulted the conviction of the soldiers, saying the court-martial refused to consider the evidence led in court. “Apart from the fact that the Prosecution did not lead any scintilla of evidence to prove the 2-count charge of conspiracy and mutiny against any of the convicts the Court-martial did not consider the defence of the soldiers in any material particular,” said Mr. Falana. “We submit that the oath of allegiance taken by the accused soldiers is not a license to commit suicide. It is a solemn undertaking to defend the nation based on the expectation that the Federal Government would have complied with Section 217 of the Constitution on the mandatory requirement to equip the armed forces adequately. He said the convicted soldiers were sent on a suicide mission by army authorities, ill-equipped and poorly motivated. “The soldiers were in the SF 111 Batallion which has 174 instead of 750 soldiers,” said Mr. Falana, a Senior Advocate of Nigeria. “The soldiers in the Batallion were neither equipped nor motivated. They are young men whose ages range between 21 and 25. Most of them joined the army in 2012. “With little or no training whatsoever they were deployed to fight the dreaded Boko Haram sect.” Mr. Falana also accused the army hierarchy of diverting funds allocated for payment of salaries and allowances of soldiers and for purchase of arms and ammunition. “Instead of bringing such unpatriotic officers to book the military authorities have engaged in the diversionary tactics of wasting the lives of innocent soldiers by sentencing them to death without any legal justification,” Mr. Falana said. |
stillchris:You have no counter to the point. Just empty posts. So it sits pretty, unchallenged. No further work needed from me. Otherwise, you wouldn't beg me for anything. You have nothing. |
The all-weather Kondor-E spy satellite.
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stillchris:The fact that you have no counter is more that enough. All you have are posts that mean nothing. But a counter, you will never have. |
stillchris:No need for anything beyond what you've failed to counter. Very simply put: Lack of morale is the mainstay of the Nigerian military and you've happily explained why - in your own words. No need for anything beyond that. You have no counter. |
stillchris:And your "fact-loaded" retort proves that. Sure, dude. Meanwhile, as for morale in the Nigerian military... ..picture related.
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iterator24:I asked you if you even know what "earth observation" vs "spy satellite" is? You don't. You are just saying things for the sake of saying them. In reality, you have no idea what you are saying. Even this latest post of yours proves that. |
stillchris:Which explains the lack of morale to date. Nigerian soldiers aren't motivated by the love of Nigeria. They are motivated by the fear of execution among other things. Soldiers like that will always be cowardly. |
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