₦airaland Forum

EFCC has failed woefully since after Ribadu.

Correct.

Ok thanks, I get your point. You mean electricity is naturally "monopolistic". Yeah that's true.

The way liberalization can work as you said is in power generation. Let's start from there. Government can concentrate its efforts and funds in the transmission and distribution aspects. Alternatively, allow several regional players. Eg one company per state or per geopolitical region etc. The key is efficient regulation.

Liberalized market is the direct opposite of monopoly! How does "natural monopoly" come in

Monopoly is not the answer at all. Let's apply the learnings from telecom sector. Open up the market and let the competition begin. The key word is LIBERALIZATION!

Brilliant one there Kalokalo. People who truly know their economics understand how to efficiently use resources. The ROI on subsidizing consumption is extremely low (if not negative) but that of subsidizing production or manufacturing is much higher. That is the point. People have been complaining that FG "throws money at problems". That is exactly what subsidy is: Throwing money at poverty! (Unfortunately they have also successfully thrown money at the rich and at thieves). Let's start thinking and acting wisely.

Mr. Hercules, can you tell us what you think the job of CAN president is? I guess you don't even know cos if you did, you will know that this is a major part of his job. Protecting and representing the interests of christians in a multi-religious society. If he doesn't do this, that is when we will say he is not doing his job. Do some research before posting.

I made this comment on a similar thread. Nigeria has not only subsidized for Nigerians but also for her neighbors! Our subsidized products often find their way into neighbouring countries like Cameroun (where prices could be as high as 3x ours). We have been wasting our resources to enrich thieves and smugglers over the years. I went further to say that there are better ways to ensure these funds get to the "common man". No one probed further so I didn't bother to explain in detail.


Another point is that FG is not only subsidizing fuel for the extremely poor but also for the extremely rich, who do not need the subsidy in any way. That is not an efficient way to help the masses. It's like a farmer who goes to the farm and sows seeds by dispersal. Some land on fertile ground and others do not. Birds will come and steal some away. A smart farmer knows how to plant on fertile ground and keep efficiency high.

Bravo COMPAQ!

FG needs to stop giving us fish (subsidies) and teach us how to fish (economic empowerment) instead.

There's a thread now on a family of 6 suspected to have died just after eating moi-moi (made from beans)! - Just saying

Two elephants were fighting and a rat decided to go in the middle. Shey u see yourself now?

Iweala farts and everyone is running into the nearest crevice! Let her land first before we start putting words into her mouth. She has not told us HOW she will go about it yet why shoot her down?

1000000000% supported. If we as a nation are ready for development, then this is the way to go.

We can help the masses in more efficient ways than this. Many schemes are there that can be used to help the low income earners in more economically viable ways.

Good start. Every obstacle must be removed. Incompetent dunces must not be allowed to keep the whole nation in darkness. If not for political reasons the guy should have been fired from service for gross incompetence.

I just love the drama playing out here. As soon as this woman sneezes, everyone is scampering here and there. Even when she hasn't said much, everyone is trying to predict her next move. This woman is too much jo. Lol

This is excellent, wonderful, exhilarating, fantastic, bangacious, ewedulitic and kunustatic! Kudos to Innoson.

Another IBB & OBJ in the making! (Interpret my statement as you like)

Well said. Too much talk. It's time to start seeing results.

My brother, it is not possible to "eliminate" corruption. We can only tame it! Put up systems and controls that will make it difficult for corruption to thrive. I have always said that corruption is a human problem. it is there everywhere you look even in USA, UN and the rest of the world! The only day corruption will be eliminated is when the world comes to an end. What we need is to develop "corruption proof" systems and this takes a long time to achieve. In the short term, we have to focus on things like Power (Electricity), Security, Education, Agriculture, Health, etc which all contribute directly to the economy while we develop sustainable systems to check corruption. If we focus on "eliminating" corruption, we will go nowhere!

Awoof dey run bele! I wonder when Nigerians will learn that the Chinese are not here for our good but for their own good. If you have to do business with these boys, you must operate under very strict terms. On the other hand, how are we sure those who were trained actually concentrated on what they were being taught

Well said. The only way to be sure is to drill the explo/ appraisal wells and conduct well production tests. Till then, I'm on siddon look mode.

They both have "balls" of steel!

Just to buttress my point on removal of subsidies, check out this news.

[Quote]Cameroon fuel truck explosion kills 15
Monday, July 4th, 2011

Nigeria's cheap, subsidised fuel known as "zoua-zoua"; can fetch three times the price in Cameroon

YAOUNDE, Jul (Reuters) - Fifteen people were killed when a vehicle carrying smuggled fuel from Nigeria into Cameroon exploded at a border village, state radio reported on Monday.

All the dead were Cameroonian apart from one Nigerian. The report did not say what caused the blast in the Benue division of Cameroon's North region, but local government sources told Reuters a passenger on the vehicle had lit a cigarette.

Authorities say such incidents are common in Cameroon's three northern regions of Adamawa, North and Far North, because Nigeria's cheap, subsidised fuel known locally as "zoua-zoua" or "funge" can fetch three times the price in Cameroon than it is sold for in its West African neighbour.

Security forces succeeded in eliminating the illicit trade in petrol between Cameroon and Nigeria in English-speaking South-West and North-West regions in the mid-1990s, but failed in the northern part of the country because of porous borders.

At least 230 people were killed when a fuel tanker overturned and exploded in eastern Democratic Republic of Congo a year ago.
© Thomson Reuters 2011 [/Quote]

Source: http://www.cameroononline.org/2011/07/04/cameroon-fuel-truck-explosion-kills-15/

The cameroonians are not dead yet even as their fuel price could be about 3 times ours! Why waste our money "father christmassing" for the "whole world" when we can channel this money somewhere else more effective.

Fuel subsidy is a classical example of giving someone fish rather than teaching the person how to fish.

I expect her to re align our economic system to fit our current developmental needs. Place more focus on capital investments and less on our over bloated recurrent expenditure. More importantly, introduce policies that will encourage local manufacturing, FDI and regional economic integration. I also expect her (and the economic team) to consolidate on Sanusi's efforts at "saving" the naira.
Certain tough decisions will have to be made if we really want changes. I personally do not see the need to continue subsidizing our imported petroleum products. Oh yes! Tough talk right? Reason is the resources expended on subsidies could have been put to better use such as creating investments that will benefit Nigerians and the economy better. We lose much more with the current system because a huge chunk of our subsidized products find their way into neighboring countries. Effectively, we subsidize not only what Nigerians need but also what our neighbors need! Furthermore, removal of subsidies will force Nigerians to go for better energy efficient systems. This can help reduce our energy demand in a way. That in turn will yield environmental benefits. However, for this to work effectively, the issue of power has to be tackled head-on. We also have to improve refining capacity such that we become a net petroleum product exporting nation rather than an importer.

The Nigerian economy is a challenging and interesting one. I hope Okonjo-Iweala and her new team deliver the goods.

Yeah, What is in d picture is more like a semisubmersible rig. It's just like the deepwater horizon that was involved in the BP Macondo blowout. I wonder what it's doing there other than being in transit! I do not think that is the appropriate place for carrying out maintenance on such facility.

If I can study "Petrol Chemical Engineering", I can as well study "Aeroplane Nautical Engineering". No be small thing o!

@Ekt, thanks

I'm not in any way suggesting that one has to be perfect or that hardwork alone is enough. I explained the hardwork part earlier. As for setting high targets, it's just a suggestion for those who can chew it! As we have all said one way or the other, it is tough. . . But then, it is also possible!

@ Coogar, u can insult me all u want but it doesn't change the fact. YES YOU CAN!!!
It does hurt when someone says he can do what u can't do. I understand that cos that has been my experience in life. People keep telling me "It is impossible" and I keep doing the "impossible". I know I'm not alone. There are many more out there who are conquering their own world of impossibilities. Someone once told me I can never genuinely be a millionaire b4 10 years of my graduation. I did it in 3 (genuinely). I know others have done it in 1 year or even less. Hmmmm, have I added more pepper to the injury? Do yourself some good and start believing and working to achieve your own success without "wuruwuru".

@Coogar, if u couldn't do it, someone else could have. Stop hating and learn. If u were willing to learn, I could have showed you ways of "living above" corruption. The good thing is I'm not posting here to convince YOU but to encourage 1 or 2 peeps out there who may be thinking of how to achieve success without cheating.

Tip for the willing: always set targets way above the mark. You often have to condescend to cheating when you are struggling with everyone else on the same level. Does a student who scores 350 in JAMB & A1-parallel in WAEC need to beg for admission? I don't think so. Does a first class graduate in Chemical Engr. who knows what he's doing need to beg for a job in an oil company? I don't think so. Does a man who drives a brand new car with all the necessary papers available need to pay bribes at police checkpoints? I don't think so. Does a hardworking and target-exceeding staff need to grease palms at work to get his promotion? Most likely no.
Live like an eagle among chickens and you may not have to indulge in "wuruwuru".

@Kobo, u made a good point there about "luck". That's exactly why in my first post, I made it clear that my success can be attributed to 3 key things. I also purposely listed Hardwork as number 3 cos God's grace (which u may have referred to as luck) and natural talent have played very prominent roles.

@Coogar, for your example, guess what? I have been in a similar situation and I didn't need to pay anyone! My case was for visa application and the company I was working for had a corporate arrangement with the consulate for visas. As for my passport, I got mine way ahead of time so I wasn't in a rush. The idea is to live above corruption. It isn't easy but it's possible. BTW, let's keep the topic in focus. The poster wants to know whether u can "make it" not whether you can "buy fuel" without wuruwuru. How does buying fuel affect my success in life?