₦airaland Forum

I think the painful reality is starting to dawn on some of us. The painful reality is that Buhari may have the will and desire to solve Nigeria's problems but he doesn't have the competence. This is someone that promised to take accountability for the police down to the states with state police, which was one of the key points in the APC manifesto. How many more people must die in Ikorodu Lagos, Benue and other parts of Nigeria before Buhari does the right thing?

When you are mine was 90's? OP don fall hand

Pointless article from a senseless source. Kachikwu is now the chairman of the board of the NNPC! He still has oversight over their activities! He is also still the minister in charge of the NNPC! Maybe those illiterates in the creeks and their spare parts brothers want to ignorantly use this as another excuse to blow pipelines, pollte their land and kill themselves.

mmsen:
The national conference had some good ideas and some stupid ones but it was important that those who had grievances had their say. Nigeria could have used the good ideas to better the country, instead someone decided that everything, good ideas included, should ignored...

What else has the FG wasted money on chasing one word solutions? Isn't the problem here the overbearing power of the FG itself?

The roads in the states that I've mentioned are in areas that require maintenance because of the climate and topography and receive the required care. It is the FG roads in these areas that receive inadequate attention because the FG has too much to handle. Let the states or the regions deal with their own roads. Let the states or the regions deal with their own power issues.

Structure is not a silver bullet solution, it puts a people, nation or individual on a path where they are more likely to succeed. You cannot expect things to go well as they are currently are. Nigeria doesn't even know how many people are within its borders because of the current system. How can such a system be of any benefit? Do you honestly feel that the Nigerian Constitution is a sensible document? That it provides a good framework for national success?

You mention 'corruption' without addressing the cause - why is it so easy to misuse FG money? When people have to earn money they are less likely to waste it, it is when that money is free that it will be wasted.

Do you realize how much wealth is being left underground in Nigeria because no one wants to invest in mining as the law (structure) currently is? There are minerals left in the ground because for whatever silly reason in order to mine in Anambra you need permission from the FG. You then pay taxes to the FG, not the state government. Why are taxes going to the FG instead of the FG when the resources are within the borders of that state? This is the nonsense that I'm talking about that continues to hamper development.

You do not appear to understand the importance of a framework, of enforceable laws that are logical yet liberal in nature. A nation needs a constitution written by rational, intelligent beings that sets the foundation. From there rational laws that pertain to private enterprise can be drawn up that will allow businesses to operate in a responsible manner, with the government ensuring that the law is followed. As things stand that is not the case.

I totally disagree with you. You should read the mining act of 2007. It absolutely guaranties rights of the host communities to their resources and to a clean environment.

klax:
Oh God bless you so much. Let them wait and watch the way buhari will go down it will shock Nigerians. Samuel Doe and Sadam plus GhadaffI will be too soft compare to how Buhari and his gangs will go down just watch Bro.

If someone could tell me buhari and APC will rule in this manner I would say it's a lie but so nice the way they have sowed the seed of vegeance and payback let the game continue.

I'm sorry did you think our Buhari would be like Jonathan and run like a baby at the sight of corrupt people? I'm very happy at the pace of the anti corruption war. Anybody that steals money and later goes to town to claim persecution for criticising Buhari is just wasting his time. Olisa methu, iyiola Omisore and Femi fani Kayode have all learnt that lesson the hard way. It's just Saraki and Fayose that are yet to learn but we'll teach them by force. No more sacred cows!

mmsen:
No one is talking about 'tearing down'.

But you need to restructure before it falls down.

Larger organizations are very difficult to police. When they are too powerful they are less likely to be held to account. This was the problem with many of the American and European banks when they were found to be acting fraudulently. Because of their size and scope no one wants to ensure that face justice for their misdeeds.

As to our suggestion for the states, you cannot give more responsibility whilst not granting more privileges. That is akin to slavery, why would anyone willingly ascent to gifting the FG (and feckless states) their wealth when they have no say over how that wealth is used? If states are to be given the freedom to create their own police forces (which the should) then they should be given the right to keep the revenue generated on their soil or from their coast. As things are states in the south such as Lagos, Anambra and AKS are having to purcase vehicles for the police because the FG is incompetent. What has the FG done to show that it should be trusted with more money?

Have you travelled on a good FG road lately? Even the roads built by the NDDC are superior. The best roads in the nation outside of Abuja, are those in Calabar and Akwa Ibom. This is why I am an advocate of state and regional powers. FG roads in the south are overwhelmingly poor but the state governments seem to manage to build and maintain decent roads - what does that tell you about the FG?

At least we agree on the state police. State policing was a campaign promise of the APC. We should tackle them in this. Federal roads are poor in Nigeria because of corruption and lack of maintenance. The states you mentioned have good roads that were built <10 years ago. Most Federal roads were built ages ago and have scarcely been maintained. Another problem we can attribute to corruption because I know contracts would have been awarded for them.
We just need oversight over these people maintaining our resources in trust for us. Alot of money has gone down the drain chasing "silver bullet" and "one word" solutions (restructuring) to the very simple problems plaguing us. We spent billions on the 2014 national conference. It was a serious waste.

mmsen:
If the house is built without a solid foundation then it will need to be pulled down before it crushes everyone who lives there.

The problem with Nigeria is its structure, it's constitution was drawn up by the military - the same military who ran Nigeria into the ground over two decades.

There should be no more FG allocation as it currently is, let the states run their own affairs. The FG can be paid a royalty and use that money for national security etc. but the status quo is a recipe for disaster.

You do not run large corporations without delegating responsibility. The CEO does not purchase the toilet paper, make food purchases, interview every new hire. To expect Nigeria to be run in such a manner and not expect confusion and mess is foolish.

There u go again! The problem is accountability oga!
Let's have transparent budgeting! Let's privitise the remaining public enterprises we have (NRC, TCN, etc), let's scrap security votes, let's give state houses of assembly more powers to hold the governors accountable. We can as well give states more control over their policing. Very simple and straightforward solutions. Not building castles the sky and tearing the country down in the name of restructuring.

mmsen:
Akwa Ibom has done a lot with the money it has received. That is a state with a genuine plan. Clearly you've never been there. They have the best road network in the nation. It's one of the few places in Nigeria that generates and has the capability to distribute sufficient power for the needs of the people and businesses there. The reason it cannot currently is because of the retarded system of 'sharing' that some people in Nigeria insist on.

Bayelsa was beginning from a very low point but they have been working to get up to speed. The reason why they've had so much to do is as a result of the foolish system of centralization that meant that places such as Bayelsa and Akwa Ibom that generate the revenue that is squandered elsewhere, were neglected. Now that they have the money from their own resources to utilize they are flying past other states, Akwa Ibom especially.

Also there are over 6 million people in Akwa Ibom. And there were 2 million in Bayelsa ten years ago, that number will have risen significantly since. Please don't make up lies.

The real tragedy is the states that do not have oil but have literacy rates of below 50%. The question should instead be asked of Katsina, Taraba, Sokoto, Borno, Kebii - what are they doing to generate revenue? Why are the not taking advantage of the wealth beneath their feet?

Lagos is thriving now because it generates more of its own revenue? Why is Kano floundering? Why is the north east in a mess?

As crooked as the states may be, none are as crooked as the FG. It was the FG from which Nigeria labored under a unitary system as imposed by the foolish military who had no clue how to manage anything.

Smaller units are more manageable and more likely to be held to account. Devolve more powers to the states, including revenue generation, power generation, mineral exploration and you will see many states rise.

Bros I'm not holding forth for anyone. The same reason the northern states can't show any major developmental strides inspite of all the resources that have accrued to them is that same reason some southern states cannot show much too. The problem is mismanagement. Let's use panadol to treat headaches not cancer. Restructuring.Nigeria along the lines people have suggested and in the midst of all this corruption will bring us back to the same point. The problem is that money is not trickling down. Let us make the money trickle down by eliminating waste, corruption an d mismanagement. Simple and straightforward! No need for pulling down the house to install a new TV set. That's just ridiculous.

mmsen:
If someone comes and takes your salary and then gives you 13% to spend on upkeep would you not find that odd?

Decentralized means decentralized - you cannot have a centralized budget, centralized resource management and then claim that is not unitary.

The centre is the problem - they requisition from states that have to give to those that produce nothing. If the FG was paid taxes or royalties from the revenue of the productive states instead of taking the whole cake and giving it to those that do nothing then it would force states to be create an enabling environment for businesses. As things are some states have no reason to do so.

What you are advocating is akin to a man having 1000 children and being expected to feed, read to and nurture all of them successfully. Smaller units are more manageable and practical. You say that I am not making sense but it is you who has failed to argue logically. You ask what is wrong with the current system? Everyone can see that it leads to inefficiency and gross waste. There is no where on earth that is as diverse and resource laden as Nigeria where the central government has managed the resources adeptly. Let go of this silly FG program and ensure that the states are creating the majority of their budget internally. If you go to states such as Anambra, Akwa Ibom, Lagos and Cross River you will see that states (and private investors) that are better than the FG when it comes to getting projects done.

What purpose are the 36 states if 27 (at least) rely on the resources of 9?

I think the very valid question now is what did Bayelsa state do it it's share of the Federal money when it's budget averaged 200billion-300billion 2/3 years ago? With a population <1million? How about Akwa Ibom with an average of N400billiin between 2011 and 2014? With a similar population demographic?
You can't go from point A to point z. Let's first ask what the problem is. Is it that the money accruing to the Niger delta states is too small and we need to increase it? If yes can you please justify the increase by accounting for the billions you already have. Or is it a problem of mismanagement? You keep shouting "the current system is faulty,restrcture Nigeria", but you've failed to recognise that the current system isn't working because of non accountability and corruption. Not because of the lack of money or resources but of the mismanagement of what we have.

Pprovost:
Where in that report do they paint the cultist in good light? if only you took your time to read you will know that you have only stated the opposite of what the article is intended.

Go back and read again. But now, slowly.

You shouldn't have replied him. "Those people" from "those parts" will never understand values and honour.

mmsen:
Trying to manage a nation the size of Nigeria's from Abuja is foolish.

Decentralization allows for greater innovation, greater accountability and greater progress. The unitary system that Nigeria practices leads to stagnation and regression.

Where is the incentive for some regions to improve themselves when they're constantly waiting on Niger Delta handouts?

Why should states learn to be frugal if the FG will keep gifting them money for nothing in return?

You're not making sense atall. What is wrong with the current system we practise where states have been given plenty of powers with legal backup to run their affairs. Is that not decentralisation? What we should preach and emphasise is financial innovation and creativity from the states and less reliance in the centre for handouts. I think the current government is moving in the right direction with this. The newly introduced Budget Support Facility from the ministry of finance has spelt out the agenda for states to assume financial autonomy. For instance states that fail to increase their Internally generated revenue will not get anymore handouts from Abuja. Also States that fail to publish their accounts and migrate their account to a state TSA will get no support from the centre.
What we need is for the resources accruing to this country to trickle down to the smallest, lowest and most vulnerable people in this country, not this lame talk of restructuring. With greater accountability and less corruption, this money will definitely trickle down.
Proponents of this restructuring and this 2014 conference report are politicians who stand to gain from the new political offices that this nonsense restructuring will create.

Very glad I graduated from OAU. Ethics and norms in that school are very unnigerian. Up until my graduation a couple of years ago, Eviano Ekelemu's picture and story remained in Fajuyi hall, my hall of residence as a student in OAU. Brings back mixed memories every year when this topic comes up on Nairaland. It's always good to remember those who died for the freedoms we enjoy today. His parents will be more than glad, even till this day, that he fought and died for a worthy cause in a more than worthy school.

Emmysteve:
I watched it just now on coretv news and I was like isn't this same man they protested against? Then it occurred to me that it was stage managed by EKITI state APC and sponsored by the tyrant in Aso Rock.

Ayodele Fayose is loved by the real EKITI people whether Buhari like it or not. They can continue to organize their fake protest EKITI people are ready to counter it any day any time.

Please one simple question here, why exactly do Ekiti people love Fayose? Has he paid their civil servants for 4 months? When last did he. commission any projects? How many scholarship schemes does the government of Ekiti state bankroll? Instead this thug has taken money money meant to procure weapons for our army to buy himself mansions in Abuja and Banana Island. Then he organises street rallies and shows almost everyday to celebrate his mediocrity and the ignorance of the Ekiti people. How does riding okada and buying beans on highway make one popular?

Its like some people haven't had enough experience on the NSE to realise the enormity of what happened to Skye yesterday. Some are even thinking of still "playing" the tide with Skye, comparing it to FCMB. I really pity you people. As always, experience is always the best teacher. I rest my case.

Tritri:
@megainvest , Now that there are new Directors to skye can i buy? or i shd wait till they release there result..just wondering pls

I'm sorry for you

Intendy:
http://www.nse.com.ng/Financial_NewsDocs/14174_SKYE_BANK_CHANGES_ON_THE_BOARD_CORPORATE_ACTIONS_JULY_2016.pdf

Can u imagine this crap? They even took time out to specially thank Ayeni for dashing shareholders money to Jonathan and Atlantic energy! The level of criminality in this country is just astounding!

The CBN is very culpable in this nonsense that is going on with Skye because when there were rumours swirling around a couple of months ago that Skye was distressed, the CBN released a press statement dispelling the rumours, then allowed Skye go on for almost 6 months without releasing audited results for the previous year, forcing investors to trade blindly. Shareholders of Skye should just institute a class action suit against the management of Skye for hiding results and the CBN for lying to investors.

So I'm guessing the next step is for the NSE to place Skye shares on technical suspension till further notice?

The big elephant in the room for oando has always been uncertainty surrounding results. Now that investors know exactly what's in their books and that losses are reducing, coupled with stabilising/rising oil price, the north pole may not be far off.

Are u sure this is PH? I've seen more scandalous dressing than this there.

Thank God I read the Thursday interview. This man didn't suggest that his life was in danger. After he outlined his allegations against Buhari to the Thisday reporter, the reporter then asked if based on the strength of his supossed "weighty allegations" if he wasn't afraid for his life for taking the president to court. The reporter proded further before the man now said "subtle" threats had been made. What he meant by subtle threats I don't know. The man also admitted being a strong member of the PDP during the interview.

papawemba:
Foolishness is carrying placards on empty stomach in support of criminals that have stolen your destiny and those of your children unborn.

Their sons and daughter are probably somewhere getting bj and leaving good life while the stewpid youth are matching under this scorching sun in solidarity with these forgery and thieving SINators. Tufiakwa!!!

Nigerian Youths Say No To Political Slavery.

This is crazy funny

Ekweremadu is a disgrace to the Nigerian political class. This man goes to the Senate everyday looking official in suits. Today in the dock, he has chosen to introduce ethnic and tribal sentiments into his trial by dorning a traditional Igbo attire. Very shameful and disgraceful. I'm sure Igbos did not send ekweremadu to the Senate to forge laid down rules and laws. In an attempt to save his skin and appeal to the ignorance and tribalism in most people, he has chosen this cowardly act.

fxuser:
i keep wondering how much of that bumper EPS they will share
#dividendhunting

bid 727k
offer 50k

Even if they pay last year's div, yield at current price would be >8%. And it's very u likely they'll pay less than last year..hopefully

flourmills
10% up already and bus never even commot from bus stop; much anticipated FYE yet to be released

fxuser:
#teamUCAP
we are back at this N2.50 resistance level again.
9m bid
7m offfer

seems we have enuf to cash out jijo's and move on ! this will be the new support for new comers soon

Your technical calls are almost always spot on. kudos! . You've brought the much needed technical dept which has been lacking on this forum. There are way too many speculators here looking for the quickest bus to hop in

Flourmills

Im not an unbeliever. I actually hold a very marginal stake there. Im just weary of misinformation and propaganda. Most of us are still recovering from all the O n O propaganda in '14. I think UCAP actually has solid growth prospects.

Dont understand the excitement about UCAPs Q2 and the interim dividend people are speculating about. UCAP has never paid interim dividend, or mayb its me that hasnt gotten the interim dividend memo. I understand the urge to link Afriprud's interim dividend payment for the first time last year with UCAP. But except there has been a press release in the affirmative, it is just plain, good old monkey hunting.