₦airaland Forum

A father whose house is on Fire does not Go hunting for rats,We have lost 120 people
in less than 4 days,The incompetent army chief, NSA and others are busy taking pictures
and posing with snakes.

Children have been made orphans by terrorists, while those who are mandated to protect
them are busy searching for akpabio loot,and sacking Ogar's sister,Incompetent JANGAWiDS

Saraki = rat
Father = dundee of daura

Okano local government..........No such thing exists, mongrels masturbating over a minor

14 pages of stupidity.............You all contribute to the "National treasury", yet get far less than your contribution
i would rather be on the other side contributing nothing enjoying the most, while you guys argue about who feeds
me better while holding on to near empty plates.Thank you.....

Seems the presido is now doing a balancing act,one from here, one from there...........

The media seems to be having fun with the ethnic colouration given to recent appointments.

Last week when the Commisioner for Insurance was appointed alongside the Renewal of
the Maritime Academy head,We only heard about that concerning the Dude from the North.

Now with the NNPC and NCC appointment, we have focused on the one that Validates whatever
bias we might have.It would seem we have become wailers/ wankers of various shades.

My Gawd , are we this dumb...Tommorow and Next are the CBN MPC meetings where interest rates and
other important issues are discussed.The meetings had been scheduled for july 21 and 22 but
rescheduled due to the US Visit.

Please, even if you make effort to deceive yourselves , spare others from your action,Please

The Rise of ABA, 24 hrs Power, More Power to Nnaji

The Nigerian Electricity Regulatory Commission (NERC) and the Bureau of Public Enterprises (BPE) have both validated the rights of `Geometric Power Aba Limited, to generate, transmit and distribute power to and within the Aba and Ariaria districts in Abia State.

This is coming amidst an unrelenting ploy by another firm, Interstate Electrics, to ensure that Geometric is shut out of the area in which it has already invested over $500 million (five hundred million dollars) in building a 200 megawatts power plan

http://businessdayonline.com/2015/07/nerc-bpe-validate-rights-of-geometric-over-aba-disco/#.Va6YyVOTM1J

Is there any reason,Gas pipelines from the south south Cannot be laid to the Eastern Economic Hubs.
Laying a Gas pipeline from delta or rivers through River niger, would lay a Foundation for new cities
along the Coast,Onitsha,asaba etc.Laying a second One from Rivers or Akwa ibom through abia,
branching to Enugu and Ebonyi would create abundant investment opportunities.

The industrial hubs of Lagos and Ogun are dependent on The West African gas pipeline.The gas
being both an energy source and raw material.Dangote is planning pipelines from Bonny to Lagos,
why can't we do better,Instead of the constant bickering and Finger pointing.

unfounded claims come from the Phase 2 and Phase 5 You claim "it is estimated that a Nigerian home, consumes an average of 45l of petroleum products in 24hrs" if we take the number of homes you estimated and multiply by 45 l per 24 hours we get a figure that only
exists in fantasy land.

Phase 5....NPDC rebasing..what is the true cost of a barrel of oil to be delivered to the refineries by NPDC , what
happens if consumption is greater than NPDC production.Even if we divert all domestic production quota
to the refineries at "True cost" would that not be a transfer of subsidy and not elimination, transfer from
finished product to unprocessed crude.Can the Government absorb the opportunity cost -Lower earnings.

What do you think about the president's proposal for swap agreements and how would those swaps help
develop domestic refineries in a more efficient manner that the swaps currently in operation

Phase 2,No arguments

Phase 3...Kerosene subsidy is non existent and an NNPC scam, yet i have this feeling that this government might actually make a
populist move by enforcing the kerosene subsidy.

Phase 4...That would be almost impossible to achieve and would require changes to existing laws,Revoking refinery licenses
would not be palatable with the President Given his fatherly role in their creation.Would the new operators be private or public agents
or a Performance based private equity type management.

The PIB is dead one way or the other........It would not be signed into law...no need to expatiate

you should probably read more before making unfounded claims

Phase 1, I did some research on the Subsidy issue and from my calculation we can eliminate between 10-15 naira via optimization of the
subsidy regime

Subsidies on Petroleum products have long been a Pandora’s Box in Nigeria. It is a wonderful source of corruption, Greed, Happiness and a reflection of the Inability of the Africa to Optimize Its God Given resources. The existence of Fuel subsidies is a source of reoccurring debates, while the removal or Nonpayment of same subsidies raises ,Flashpoints, Scarcity, Protests and increased hardships on the Populace, which is quite amazing for something which some say does not exist. Today we examine aspects of Fuel subsidy and try to develop new and easy means of understanding It.As you might Note we have implied that Subsidy exists and also is been exploited By the players in the downstream Petroleum sector to Garner Illicit gains and Impoverish the Rest of the Country.

Our First Point of contact is the Recent calculations by Former Minister of Petroleum professor David Tam west in which He implied that The subsidy on petrol is a Farce. Many believed him and share the same opinion, but we Critically examined the Figures he used and realized he used an unreal Crude production Cost of $5 per barrel and an exchange rate of 160 N/$ .We find such assumptions spurious and thus we consider the Rest of the Calculations a Flight from reality to The land of Fantasy.

Our Second Point is asking such Questions as, How much Does It cost to Produce a Liter of Petrol (Premium Motor Spirit)in Nigeria, This question should be directed of course to the usual suspect ,The NNPC, but of course we expect No answers from them, The Management of the Orient refinery and the Proposed Dangote Refinery would have Adequate data to provide an answer, but then again their response is not Forthcoming. We are left with Figures from OPEC Monthly oil reports, which would be supplemented with Figures from The Petroleum Products Price regulation Agency(PPPRA),Customs and Ministry Of Finance.

Time to get our Hands and Brains dirty,Subsidy is the amount paid by Government that enables Nigerians to But Petrol below the Open market Rate,Fuel subsidy payments in Nigeria is influenced by 3 major factors, Crude Oil prices, The Exchange rate and Consumption. Subsidy for most intents and Purposes is funded from the Federation Account through the NNPC domestic crude Allocation and thus talk of Federal Budgetary allocation is Slightly misplaced.

The PPPRA templates Gives us a List of Components of PMS cost, (Cost + Freight) being the largest. The Gasoline (Petrol) Price per Metric Ton being the most important, and is largely determined by Factors beyond our Control. The freight is the amount charged for Transporting a Metric ton of PMS from a refinery (Mostly Europe or Eastern US seaboard to Nigeria).We do not know the exact freight costs used by the PPPRA to Know if it is competitive and this Omission might lead to exploitation as every $10 per metric Ton in Freight Costs would lead to a 1.3 naira increase in PMS cost per Liter.

Another Component of the PPPRA template, the traders margin is also another point of worry as we do not know what exactly it is, is it the Profit of the Trader who sells the Gasoline to us or who brokers the Deal and why is it a set figure ($10), despite fluctuations in Crude oil prices.Do we have a trading desk in our National Oil Company, NNPC .Traders Margin yields 100 Million dollars per annul for the trader, chai,what a Lucky trader.The PPPRA say the Traders Margin is Factored Into Freight Costs yet It appears as a Separate Component from Cost and Freight, weird ehhh……,Lucky trader.

Lightering expenses
According to the PPPRA,Local Freight charge is the cost incurred on the trans-shipment of imported petroleum products from the mother vessel into daughter vessel to allow for the onward movement of the vessel into the Jetty. This charge includes receipt losses of 0.3% in the process of products movement from the high sea to the Jetty and then to the depot. The mother vessels expenses are based on the allowable 10 days demurrage exposure at the rate of $28,000 per. Day. But does Lightering costs have to be more than 3% of Petrol Prices ,is that what obtains in other countries and can the PPPRA and NNPC prove such.
Moving to Other Aspects like the Storage charge , Jetty Charge and financing, there is not much data on those and we cannot ascertain the accuracy or Otherwise of such Figures.

Now that the Petrol has landed, it cannot be sold to us without the Tanker drivers, distributors -Filling stations like Oando, Forte Oil,Total , Ugo and sonns, etc. The retailers Take about 3.5% percent profit , which we consider ok , as cost of business(No ,we don’t own any Petroleum Stocks).

The transport 3 naira per Liter, which is approximately 100,000 naira per 33,000 tanker of fuel, here our problems begin as there is another cost of bridging, we ask bridging what exactly?What is the cost of transporting a 33,000 liter tanker of Fuel from Lagos -Maiduguri, or Port Harcourt to Maiduguri, we could ask some tanker drivers or look into our Military accounts to See how much they spend in tackling the Boko haram Insurgency.
What is the Difference between Bridging and Transport Cost, and how much does it cost to Transport a Tanker of Deregulated Diesel from Lagos to Maiduguri and do Bridging Costs apply to diesel. 33,000 Liter Tanker of Diesel is approximately 25 Tons, a Truckload of Cement of 500 Bags has the same weight, yet Dangote, Lafarge and Other cement Manufacturers Charge between 100(minimum)-200(maximum) per bag of Cement for Delivery Nationwide, this translates to 50000 -100,000(maximum) per 25 Metric Tons or 1.50K to 3 naira per liter , which leaves the question where are we Bridging the Fuel to, Libya perhaps, and is the Transport Cost borne by Retailers and distributors Free money as we also pay them to “Bridge” Petrol. This is Very Important as we consume 13 Billion liters of petrol annually with a Bridging Cost of 5.80 per liter which yields 75 Billion in bridging expenses. The Free money part might be accurate as the Minister of Finance Ngozi iweala recently said that Fuel marketers are in a Risk free Business.

Also does it cost more than 3Naira per liter,(100,000/Tanker) to transport fuel from the Lagos Jetties/Depots to areas within Lagos or better still what is the maximum distance that (100,000/33,000 L tanker) can transport. We believe transporting fuel within Lagos is less than that and Lagos accounts for More than 30% of our National Petroleum consumption, why then are we paying extra 6 naira to transport and “Bridge” fuel within Lagos and other nearby states. So many questions for the PPPRA, NUPENG, NNPC, Marketers and the Rest of us.

Do we also pay the Traders Fee, Finance Costs, Freight Charges on Locally produced petrol from our Refineries which we have been told by NNPC are Working at 30% capacity, If so WHY?, if Not why is there No separate template for domestic Fuel Production?, or are Those claims misleading?.

This Complicated process and the accompanying questions are only those Associated with Petrol subsidy , The Kerosene subsidy is another Mind Boggling maze which we are handicapped to Investigate. The Kerosene subsidy maze can be likened to a Black Hole which does not exist yet does exist which creates unending happiness for its beneficiaries and Utmost confusion for the Rest of us. In the Second part of this article we examine the Economic Factors affecting Petrol subsidy and their effects on us.

http://skuulmi.com/2015/05/how-to-calculate-fuel-subsidy

What is the Difference between Bridging and Transport Cost, and how much does it cost to Transport a Tanker of Deregulated Diesel from Lagos to Maiduguri and do Bridging Costs apply to diesel. 33,000 Liter Tanker of Diesel is approximately 25 Tons, a Truckload of Cement of 500 Bags has the same weight, yet Dangote, Lafarge and Other cement Manufacturers Charge between 100(minimum)-200(maximum) per bag of Cement for Delivery Nationwide, this translates to 50000 -100,000(maximum) per 25 Metric Tons or 1.50K to 3 naira per liter , which leaves the question where are we Bridging the Fuel to, Libya perhaps, and is the Transport Cost borne by Retailers and distributors Free money as we also pay them to “Bridge” Petrol. This is Very Important as we consume 13 Billion liters of petrol annually with a Bridging Cost of 5.80 per liter which yields 75 Billion in bridging expenses. The Free money part might be accurate as the Minister of Finance Ngozi iweala recently said that Fuel marketers are in a Risk free Business.

Also does it cost more than 3Naira per liter,(100,000/Tanker) to transport fuel from the Lagos Jetties/Depots to areas within Lagos or better still what is the maximum distance that (100,000/33,000 L tanker) can transport. We believe transporting fuel within Lagos is less than that and Lagos accounts for More than 30% of our National Petroleum consumption, why then are we paying extra 6 naira to transport and “Bridge” fuel within Lagos and other nearby states. So many questions for the PPPRA, NUPENG, NNPC, Marketers and the Rest of us.

Do we also pay the Traders Fee, Finance Costs, Freight Charges on Locally produced petrol from our Refineries which we have been told by NNPC are Working at 30% capacity, If so WHY?, if Not why is there No separate template for domestic Fuel Production?, or are Those claims misleading?.

This Complicated process and the accompanying questions are only those Associated with Petrol subsidy , The Kerosene subsidy is another Mind Boggling maze which we are handicapped to Investigate. The Kerosene subsidy maze can be likened to a Black Hole which does not exist yet does exist which creates unending happiness for its beneficiaries and Utmost confusion for the Rest of us. In the Second part of this article we examine the Economic Factors affecting Petrol subsidy and their effects on us.


http://nairametrics.com/how-to-calculate-fuel-subsidy/
http://skuulmi.com/2015/05/how-to-calculate-fuel-subsidy

Saw this Online......Fuel marketers Milking us(Long Read)

Subsidies on Petroleum products have long been a Pandora’s Box in Nigeria. It is a wonderful source of corruption, Greed, Happiness and a reflection of the Inability of the Africa to Optimize Its God Given resources. The existence of Fuel subsidies is a source of reoccurring debates, while the removal or Nonpayment of same subsidies raises ,Flashpoints, Scarcity, Protests and increased hardships on the Populace, which is quite amazing for something which some say does not exist. Today we examine aspects of Fuel subsidy and try to develop new and easy means of understanding It.As you might Note we have implied that Subsidy exists and also is been exploited By the players in the downstream Petroleum sector to Garner Illicit gains and Impoverish the Rest of the Country.

Our First Point of contact is the Recent calculations by Former Minister of Petroleum professor David Tam west in which He implied that The subsidy on petrol is a Farce. Many believed him and share the same opinion, but we Critically examined the Figures he used and realized he used an unreal Crude production Cost of $5 per barrel and an exchange rate of 160 N/$ .We find such assumptions spurious and thus we consider the Rest of the Calculations a Flight from reality to The land of Fantasy.

Our Second Point is asking such Questions as, How much Does It cost to Produce a Liter of Petrol (Premium Motor Spirit)in Nigeria, This question should be directed of course to the usual suspect ,The NNPC, but of course we expect No answers from them, The Management of the Orient refinery and the Proposed Dangote Refinery would have Adequate data to provide an answer, but then again their response is not Forthcoming. We are left with Figures from OPEC Monthly oil reports, which would be supplemented with Figures from The Petroleum Products Price regulation Agency(PPPRA),Customs and Ministry Of Finance.

Time to get our Hands and Brains dirty,Subsidy is the amount paid by Government that enables Nigerians to But Petrol below the Open market Rate,Fuel subsidy payments in Nigeria is influenced by 3 major factors, Crude Oil prices, The Exchange rate and Consumption. Subsidy for most intents and Purposes is funded from the Federation Account through the NNPC domestic crude Allocation and thus talk of Federal Budgetary allocation is Slightly misplaced.

The PPPRA templates Gives us a List of Components of PMS cost, (Cost + Freight) being the largest. The Gasoline (Petrol) Price per Metric Ton being the most important, and is largely determined by Factors beyond our Control. The freight is the amount charged for Transporting a Metric ton of PMS from a refinery (Mostly Europe or Eastern US seaboard to Nigeria).We do not know the exact freight costs used by the PPPRA to Know if it is competitive and this Omission might lead to exploitation as every $10 per metric Ton in Freight Costs would lead to a 1.3 naira increase in PMS cost per Liter.

Another Component of the PPPRA template, the traders margin is also another point of worry as we do not know what exactly it is, is it the Profit of the Trader who sells the Gasoline to us or who brokers the Deal and why is it a set figure ($10), despite fluctuations in Crude oil prices.Do we have a trading desk in our National Oil Company, NNPC .Traders Margin yields 100 Million dollars per annul for the trader, chai,what a Lucky trader.The PPPRA say the Traders Margin is Factored Into Freight Costs yet It appears as a Separate Component from Cost and Freight, weird ehhh……,Lucky trader.

Lightering expenses
According to the PPPRA,Local Freight charge is the cost incurred on the trans-shipment of imported petroleum products from the mother vessel into daughter vessel to allow for the onward movement of the vessel into the Jetty. This charge includes receipt losses of 0.3% in the process of products movement from the high sea to the Jetty and then to the depot. The mother vessels expenses are based on the allowable 10 days demurrage exposure at the rate of $28,000 per. Day. But does Lightering costs have to be more than 3% of Petrol Prices ,is that what obtains in other countries and can the PPPRA and NNPC prove such.
Moving to Other Aspects like the Storage charge , Jetty Charge and financing, there is not much data on those and we cannot ascertain the accuracy or Otherwise of such Figures.

Now that the Petrol has landed, it cannot be sold to us without the Tanker drivers, distributors -Filling stations like Oando, Forte Oil,Total , Ugo and sonns, etc. The retailers Take about 3.5% percent profit , which we consider ok , as cost of business(No ,we don’t own any Petroleum Stocks).

The transport 3 naira per Liter, which is approximately 100,000 naira per 33,000 tanker of fuel, here our problems begin as there is another cost of bridging, we ask bridging what exactly?What is the cost of transporting a 33,000 liter tanker of Fuel from Lagos -Maiduguri, or Port Harcourt to Maiduguri, we could ask some tanker drivers or look into our Military accounts to See how much they spend in tackling the Boko haram Insurgency.

EUROBOMBER:
When will get to that bridge, we will cross it but we must not make the mistake of putting all our eggs in one basket like we did with Jonathan who was looking and watch himself lose the elections forgetting that some people staked everything for him.

Oga Please Take this a reply to That useless Post You have been sharing

I will elevate Eze Ndiigbo to status of Oba of Lagos.Who made this comment , A Yoruba man, If I say,
I am coming to marry your wife, would you go home and Threaten to Kill your wife, or would you take
up the Fight with Me

Igbo Will Determine who rules Lagos, Is there any evidence , Video or Otherwise, I have searched online
and No credible links to That comment .Has any ethnic group Determine who rules lagos and why Not
threaten Ubah for making such a Comment.

LAGOS IS NO MAN'S LAND.- IFEANYI UBAH DURING TAN CAMPAIGN.Again Evidence Not Rumour Milling.

IGBO DEVELOPED AND CONTROL LAGOS- JIMI AGBAJE DURING GEJ CAMPAIGN IN AKWA IBOM.Point 1
all again, Blame Jimi not Igbos.

WE MUST PRODUCE THE NEXT DEPUTY GOVERNOR OF LAGOS- EZE NDIGBO, Again I humbly ask for
Evidence Not Rumor Mongering.

Can the Obi of Onitsha Igwe Achebe or Sarkin Kano Accept, Obviously Not , They are Intelligent and
would verify Rumors before lashing out in an Undignified manner.

Can any Tribe Claim Onitsha or Aba, Anyone that wants to Claim anything should do so.It does
Not Change the Nature of what is Been claimed

Can the Obi of Onitsha Accept , Elevation of Sarkin Hausa to Obi status.Probably Not , He would
curse The Originator of such an Idea but would Never threaten The Lives of Hausas for the
uncouth Comment of his Kinsman.

Thank you.

Oba Hitler Akiolu, Well done Sir, You would drown Us, You probably have Set up the Gas Chambers Abi,

Heil Rilwan

Life JAckets, Swimming Trunks and Bikini for Sale,If you have a mami wata/papi wata that
has been disturbing you, Now might be a great time to accept the Toasting.......

The influence of Ex Governors on the senate is growing By the day, do we expect men who were
mediocre governors to become Excellent Senators.Bayero Nafada in the Senate!!!,Is that not
Bankole's Deputy , he has come to continue his "Good work" in the Senate.But he has been
washed by the water of the Broom and is now a New creature

The great men who transformed their societies are Gradually Taking their place among the Stars, From Jobs, Madiba and Now LKY.
His views on Africa and Nigeria expressed in his books , Ring true 50 years later.

RIP Chairman Harry LKY

A little search would reveal that FG wage bill increased from 900 billion to 1.8 trillion due do Minimum wage laws,
spending on defence increased from 213 Biilion under Obj over 900 Billion due to boko ,Totaling 1.6 trillion in
new expenditure to be catered for.Now if we did not have this extra Figures ($8 - 10 Billion) our reserves
would have Increased by almost $40 Billion under Jona

Oil benchmarks are based on Price and Production figures,Thus most of the Extra was used to makeup the
Production shortfalls

. Obiagelli, please when you get the right Budget figures and Capital expenditure ratios , call us to debate, debating on wrong
stats is a waste of time.

The last link you listed for OBJ last budget is 781 billion capital expenditure out of a 2.3 trillion budget,which
gives 34%, Please use official budget figures or at least do the math yourself.Is there any link to $30 billion
spent on Power under Jona or are those figures more fruits of a Fertile Imagination

Clerverly:
The report also identified Egypt and Morocco as the other countries with the largest estimates of illicit financial flows statistics of $28.2billion and $20.3billion respectively.
Cumulatively, Nigeria and Egypt topped the list of ten African countries by illicit financial transfers between 1970 and 2008, with $217.7billion (about N36.57trillion), or 30.5 per cent, and $105.2billion (about N17.67trillion), or 14.7 per cent respectively, while South Africa had $81.8billion (about N13.74trillion), or 11.4 per cent.[size=15pt]

I guess the Blind rodents Of Aggrieved people Congress, cannot read either, This wonderful report just Indicted their
President In waiting (Buhari) 1983-1985 and Their Navigator OBasanjo (11 years).

barcanista:
That doesn't justify Muhammed Yusuf action, arresting him was a great opportunity ffor us to understand their position as at 2009 and nip it to the bud before it got out of hand like we are experiencing today.

Yet we praise GMB for taking out Maitesine and Makaniki under A civilian Shagari,Which he did as GOC 3rd Divison and
condemning the the Police for doing same to Yusuf,yes you can become a leader via coercion rev king,Isis and BH
prove this.

Ngwakwe:
Was Sheikh Mohammed Yusuf not an Islamic cleric with more than a million followers?

How did GMB deduce that Yusuf followers followed him out of charisma and Not coercion,if a chibok
girl comes out tomorrow and speaks of shekau's charisma , how would you react.Coercion is a
standard mode of ISIS,BH and many terror groups.

barcanista:
@ OP: what is your definition of Charisma? Have you heard of Charisma as a result of Brain? And brawn?
Only a charismatic fellow could attract followers and make them do his biddings like Yusuf did, Osama bin laden, Barrack Obama, Muhammadu Buhari,Ojukwu, Tony Aninih etc. The only distinction is that Yusuf , Osama and co used their charisma to actualise evil act, while Barrack Obama, Muhammadu Buhari, Tony Aninih etc used theirs to actualise their political prospects and nation building. At your question, yes, Yusuf was charismatic but being charismatic doesn't necessarily translate to something positive

Thank you , but would Obama , Hillary clinton,or any other leadership aspirant in Eu/America refer to Osama as A charismatic Individual

Definition

a. A rare personal quality attributed to leaders who arouse fervent popular devotion and enthusiasm.
b.1 compelling attractiveness or charm that can inspire devotion.

As a non Partisan, Fence sitter ,I have making effort to know more about our Presidential Aspirants and thus make an
Informed decision on Feb 14 2015.Since there is not much to be discovered about the SHOELESS and CLUELESS Jesus of Otuoke
(except of course his preferred Brand of Rum for the season)i decided to turn my attention to the "Peoples General".I have
read Interviews, speeches by GMB.The Latest of Which is that with Thisday Newspapers.

In that Interview , the General refers to Mohammed yusuf as "a young charismatic man" amidst other Important issues

http://www.thisdaylive.com/articles/buhari-in-quest-to-secure-nigeria/196454/

Politicians use unemployed youths as vanguards, they called them ‘Ecomog’ in the North-east then. One of their leaders called Yusuf, a young charismatic man, tried to give it a religious tinge but unfortunately the chaps were badly handled by the security forces - a combination of the police and the military. There wa

Now I want to know why Does GMB thinks Yusuf was/is charismatic, How did he become aware of Yusuf's charisma,

What did Yusuf do to impress GMB to warrant the "charismatic" Compliment

Why does the General Consider Yusuf charismatic and maitasine Evil.

Would GMB go to People/areas Afflicted by BH, Kano, Chibok,Markets,mosques,churches,Bus parks , Tertiary and tell them
that the Origin of our Collective Nightmare is charismatic.

You Buhari Supporter, was/is Mohammed Yusus charismatic to you? if yes Please explain

CC: Obiagell,Descartes, MudRaker, barcanista, Firefire,Ngwakwe, NgeneUkwenu, omenka,egift

Una like Argument pass food ,to resolve all the Monthly debates of Who gets whats and how much

Please do visit oagf.gov.ng, The FAAC(Monthly National Cake) reports are all there.

Btw Atlwireles, i wanted to ask you about this epz/egtl issue , my pal ena on Fb,has almost
burst a nerve about, i wanted to know you opinion about it

Solid article from Jagaban, a continuation of the first he penned during the 2012 Petrol subsidy Protests.

For those who might not understand his premise,he is urging a pseudo-Quantitative easing to negate
the effect of the Fall in oil prices and also to stop basing our budgets on oil benchmarks(price & production)
But on what we require for Economic growth and development.The probable downside of this as he points out
is inflation and devaluation.

My personal opinion on the issue is mixed, as i am torn between his prescriptions and those of Dr boyo,
I do support the idea of Nairalization by the CBN ,of fiscal deficits for Governments(state and federal).This would be
effective in reducing the urge our Our banks have for Government securities and its attendant effects on
Lending costs for Businesses, mortages etc.I.e If a bank can buy bonds at 14% interest rate, why would
they lend to you unless of course you are named Aliko and such thinking prevents growth of Small and medium
businesses.

But then there is an inherent risk of deficit binging as some state governments might take the easy way
of collecting the Free Naira and using such frivolously on unwise spending or dollar buying which would lead to
runaway devaluation .Also the low productive base of our economy makes this a Risk as we would are
import dependent and many other Unknown Unknowns might lead us to zimbabwe/weimar germany scenario.

Thus to reduce the Risk of this we should implement this in phases, 25-30 % of all deficits for the first year and
observing the effects.Also to increase productivity in the short term, we should be going the way of
teacup refineries as that would reduce our import bill, provide employment and enable to add value
to our most important commodity.

Another day , Another Bomb, After the Ashaka Cement Raid where loads of dynamite was stolen, bombings
have become more rampant,Bombs in a morning Assembly, education in those NE states would suffer.

A student who escaped by the whisker told Daily Trust that the mastermind of the
blast came into the school compound with a bag and detonated the explosive in the
midst of students.

Boko haram network probably includes teachers and students ,

Missy89:
I said if it grows by 3% yearly (which is unlikely). Are you saying in the last 5 years in grew by 10% and it is now over 50%. I think you should read and understand perfectly before quoting me.
Lets even say the naira was inflated by 3% every year

Yes maam , Not unlikely please do visit http://www.cenbank.org/rates/inflrates.asp, you seem like an intelligent one , if something
grows by 10% per annum after 5 years , would the New figure be over 50% more or Not.

Missy89:
If the debt and the budget grew because naira lost its value (inflation) That cant be factual for a simple reason.
The oil prices rose as well, which means inflation doesn't matter. Lets even say the naira was inflated by 3% every year (this is a huge percentage)

Please maam do check Inflation rates for The past 5 years, avg >10% then correct your post accordingly

pendy79:
Read well where you quoted me from. You will see it was a response to an insult.

So if an Urhobo man Insults you, you Insult Igbos, How Nice.Please do change the
Igbo in your Post to Urhobo to show you are a true progressive