₦airaland Forum

Point of correction. . .

Otedola is worth quite a bit of money. If easy money goes away, then he'll find other sources of revenue.

Nobody is "finished" if they've already made 100s of millions, if not billions of dollars.

Fashola should reject this summon. GEJ can visit him if he likes, but not vice versa.

If he does go up there and offers his help, then he should certainly extract certain concessions for doing so.

So why on earth doesn't the FG negotiate directly to buy oil from refineries?

Why the middle men?

Black people are the most racist folk on the face of the earth

Regardless of what you think about him, he is right.

PointB:
Ogun State has is about the least developed state in Nigeria

lol

Who was the buyer? (or buyers, more likely)

houvest:
How do we get this going?

A good question.

I wonder how useful one of those electronic petitions would be? E.g. from change.org?

If we had 500,000 people sign their names saying that they want a plebiscite in Nigeria, surely that would be enough to garner some attention?

I'm not sure.

hercules07:
@ekt

The price at this time is not fluctuating due to demand and supply but because the Gas companies are taking into consideration the economic situation of their people

Err:

eledalo:
Britain's largest six energy suppliers, which control 99 percent of the retail energy market, have come under growing pressure to cut domestic energy bills as wholesale energy prices, which make up half of the costs of energy bills, have fallen due to the mild winter weather and the weakening economy.

So the price of their input went down on the retail market, thus giving them some room to cut prices. Again, I don't see the relevance of this to the Nigerian setting, where energy prices were fixed independently of the market price.

If I make peanut butter and the price of groundnut decreases, of course there is room for me to reduce my prices.

However, if in the neighboring country peanut butter is subsidized by the government and sold at a price below cost, then what is the connect between me cutting my price and the situation in the other country?

They don't relate.

I am not sure of the relevance of this. The market for gas in the UK is deregulated, right?

Of course prices will fluctuate, sometimes go up and down.

But how does this relate to Nigeria, were the price of petrol is regulated?

I'm watching them sing (play?) "Zombie" at this protest on channelstv.com. Interesting.

Do 85 this year, 105 the next, 125 the year after, then fully deregulated the 4th year.

That (or some variant) is the least disruptive way of tackling this issue.

Hilarious

Good talk from Utomi.

A UN supervised plebiscite throughout all of Nigeria would be most welcome.

The sooner this country splits apart, the better.

That would be pouring gasoline on a burning fire.

Surely they aren't that stvpid.

Cocoa Has Biggest Two-Day Gain in 11 Years on Nigeria Strike
January 10, 2012, 10:02 PM EST


Jan. 10 (Bloomberg) -- Cocoa futures jumped, capping the biggest two-day gain in almost 11 years, after a nationwide strike spurred concerns that supplies will be disrupted in Nigeria, the world’s fourth-largest producer.

A Nigerian industry group said shipments from farms for processing have halted. Dry weather may also curb supplies from Ivory Coast, the top grower. Demand in Europe may have climbed in the fourth quarter to the highest since at least 1999, according to the median of nine analysts surveyed by Bloomberg News.

“The strike in Nigeria may limit cocoa supplies,” Carsten Fristch, an analyst at Commerzbank AG in Frankfurt, said in an e-mail. “Weather conditions in Ivory Coast became less favorable of late, which may cause lower production volumes.”

Cocoa for March delivery rose 7.5 percent to close at $2,333 a metric ton at 12:04 p.m. on ICE Futures U.S. in New York. In two days, the price soared 15 percent, the most since Jan. 17, 2001.

A.P. Moeller-Maersk A/S, the world’s biggest container-ship owner, closed its office in Nigeria yesterday because of the strike, Anders Boenaes, a vice president of Africa services, said in an e-mail. All shipments are at a “standstill,” he said.

Government offices that grade beans were closed, Robo Adhuze, a spokesman at the Cocoa Association of Nigeria, said.

Exports Delayed

“Without grading, the beans cannot be certified and bagged for export,” Adhuze said in a telephone interview from Akure in western Nigeria.

Nigeria’s output this season will be about 230,000 tons, or almost 6 percent of global production, according to Marex Spectron Group Ltd. in London.

Last year, futures fell 31 percent, the most since 1999, amid ample supplies from West Africa. Global production was 341,000 tons higher than consumption in the season that ended in September, according to the International Cocoa Organization. The Ivory Coast and Ghana, the second-biggest grower, had record crops. Indonesia is the third-largest producer.

This year, dry weather in West Africa triggered speculation that output will decline. Winds from the desert have the potential to damage crops.

“In Ivory Coast, there are concerns that the dry and windy weather associated with the Harmattan season may lead to an early tailing off of the main crop, while affecting development of the mid-crop,” Kona Haque, an analyst at Macquarie Group Ltd. in London, said in a report.

European Demand

European bean usage last quarter may have climbed 7.5 percent to 368,109 tons, Bloomberg survey data showed. The grinding report from the European Cocoa Association is set for Jan. 13.

Some investors may be unwinding bets on falling prices. Money managers had combined bearish futures and options wagers on 9,694 cocoa contracts as of Jan. 3, according to data from the U.S. Commodity Futures Trading Commission.

“This all might have led to short-covering ahead of European grinding data,” Fristch of Commerzbank said.

In London, cocoa futures for March delivery climbed 8.1 percent to 1,544 pounds ($2,332) a ton on NYSE Liffe. Earlier, the price reached $1,545, the highest for a most-active contract since Nov. 18.

--With assistance from Vincent Nwanma in Lagos and Yi Tian in New York. Editors: Patrick McKiernan, Millie Munshi

To contact the reporter on this story: Isis Almeida in London at ialmeida3@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net

http://www.businessweek.com/news/2012-01-10/cocoa-has-biggest-two-day-gain-in-11-years-on-nigeria-strike.html

Just reduce the subsidy by 20% a year. All of this wahala is too much

Man. I have no clue what most of the posts in this thread are saying.

islamrules:
When they attack mosque, they offend their yoruba brothers who are muslims. A yoruba may even be in a mosque with these hausa people.

How many yoruba muslims go to the same mosque as hausa? What percentage?

He raises a good point. I still don't understand why they didn't just phase the subsidy out over 4 or 5 years.

There would be so much less uproar, and you'd get to the same place in the long run.

Like, they choose the most disruptive and riskiest way to achieve a desirable objective, not the smoother path.

Indeed. Organize on fbook. This thread should also be frontpaged.

Rgp92:
From that point on, Yorubas learn that in a civil war, foreign country who isnt involved in the war always win.

This I think is the important lesson to learn from the events of the 1800s. Though in this case, the foreign power in my opinion is the Fulanis who Afonja decided to team up with.

It is better for us to settle any differences we have internally within Yorubaland (whether religious, political, etc) than to seek to involve third parties with their own agendas.

Btw, a copy of "The History of the Yorubas" is available for free download here: (http://www.archive.org/details/historyofyorubas00john).

Abagworo. If it is poverty alone that is the issue, why is the rest of West Africa (which is poorer on average than Nigeria) not being torn apart by ethnic strife and Islamic terrorism?

Your answer is too simplistic.

Abagworo: In the Willinks report of the 50s, the authors claimed roughly equal # of Christians and Muslims Yoruba in the Western Region.

Granted, things may have changed. But I don't think Yoruba are lopsided in one direction or another.

Regarding Lagos specifically, the indigenes seem to tilt towards Islam. But not all the Yoruba in Lagos are indigenes, nor is it an Islamic state, either in theory or in practice.

In any case, I'm not sure that is an issue.

“Youths who have been indoctrinated right from infancy can be used, and who have been used, again and again to create mayhem in the country.”

He added: “Those who have created this faceless army have lost control.”

Yep. Lost control, and have had their tool taken over by foreign elements.

Anyway, time to split up the country.

It depends on the person, state, region.

I think for my own part of Nigeria, there will be greater freedom to choose the direction we want to go. Don't have to combat a FG that seems interested in blocking your progress.

Higher chance of delivering electricity, industrializing, having good roads, eventually joining the middle-income countries sometime within the next 50 years.

However, while there are benefits, there are also costs.

My own Ekiti State for example will have to find an alternate source of government revenue.

But overall, i think the benefits of disintegration outweigh the costs.

Hell, even something as basic as having a legitimate census, national ID, things which simply aren't possible in Nigeria but are feasible in a separate nation.

When was this done?

So their statements should be taken as the Official Position of the Yoruba ™?

If they are condemning people for choosing not to protest, that is their own.

Let their positions be that of them alone.

Tunde Bakare doesn't speak for me or the SW in general.

Dude was even taking shots at the ACN while he was the CPC VP candidate.

I washed my hands of him months ago.

Show me statements by prominent, respected SW folk either here on NL or in RL against those not protesting.

I'm not talking about idle statements made by random crackpots (of which Yorubaland like any other place has many.)