₦airaland Forum

Privatization in which you sell assets to cronies probably won't work, yes. But a transparent bidding process in which international players are allowed to take part?

Can anyone name an example of a failure of that sort?

@gidson12: The full table:

https://i53.tinypic.com/28br6mo.jpg

No special gov't intervention please. If it is indeed much cheaper than the alternatives (as they claim), then no doubt they'll make massive profit even w/o gov't assistance.

By Vincent Ikuomola 2 hours 20 minutes ago

President Goodluck Jonathan yesterday admitted that the nation’s privatisation programme, which began in 1999 has failed and called for sanctions against unserious investors.
He also lamented failures of the private sector to turn around ailing government firms sold to them.
The president said contrary to expectations that government firms will be better managed by the private sector, the reverse has been the case.
He, therefore, advocated sanctions should be built into future privatisation agreement to ensure that only serious investors are involved in the programme.
Jonathan spoke at the inauguration of the National Council on Privatisation (NCP) held at the vice president’s wing of the presidential Villa, Abuja.
The inauguration of a new council was in consonance with the Bureau of Public Enterprise (BPE) Act 1999.
Vice President Namadi Sambo is the Chairman of the council, which also has as members Finance Minister as vice chair, Attorney General of the Federation, Minister of Trade and Investment, Minister of National Planning and Secretary to Government of the Federation. Others are governor of the Central Bank of Nigeria, Special Adviser to the President on Economic Matters, NLC President, Chairman, National Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA) and BPE DG/Secretary.
The president charged the new council to tackle lapses that had hindered the survival of privatised companies in the past.
He also urged the council to ensure that appropriate monitoring mechanism is built into all future privatisation agreements.
“We believe the private sector will handle things better that than the public sector. But the whole story about privatisation has not been as successful as Nigerians expected it to be.
“The feeling is that a number of enterprises that have been privatised by the Federal Government are not doing too well. So, these are the kinds of areas the new council members should address their minds to, the ones that had been done and the new ones that are yet to be done.
“In any agreement or arrangement you will have with the private sector that will take over assets of government, we must make sure that we build monitoring into it and there has to be some sanctions,” he said.

http://www.thenationonlineng.net/2011/index.php/business/14800-privatisation-has-failed-says-jonathan.html

Homie is 100% right

By Our Reporter 7 hours 57 minutes ago

bUILDING new roads in the Centre of Excellence without complementing them with the rehabilitation and maintenance of an efficient rail network is like throwing money into the ocean, Governor Babatunde Fashola said yesterday.
He made the remark while hosting the Minister of Transport, Senator Idris Umar, who led an entourage to the state to inspect the agencies under his ministry.
Fashola told his guests at the Lagos House, Ikeja that the roads across the country were never designed for the kind of tonnage of goods they accommodate daily, especially from the ports.
“That explains the sorry state of the Apapa -Oshodi Expressway, which also serves five industrial estates namely. Apapa, Amuwo- Odofin, Isolo, Matori and Ilupeju. Non- industrialists are also making use of the roads importing rice, milk and so many other goods that hit the market’’, he added.
He explained that with the best of efforts in building a road, the road is back in a state of disrepair, stressing that until the country gets the very heavy tonnage off the roads either intercity or intracity, Nigeria will simply be chasing shadows.
Fashola said: “The people of Lagos will support you to do the right thing to resuscitate the rail network so that petroleum cargo can pass through the rail system. Go to Apapa today, the rail tracks are still there. It is how to re-establish network that remains the challenge.”
According to him, the step will eliminate tanker accidents and making life unbearable as well as containers falling off and endangering other road users.
“We hope you will find the resources, energy and team with the same commitment that you have shown to deliver this rail network in the shortest possible time. No road will last without a supporting rail network’’.
The Governor also welcomed the understanding shown by the minister for a change in ethos and philosophy that host communities should benefit from facilities like airports and seaports that clearly impacts on infrastructure.
The minister said be was excited by the level of cooperation between the state and the agencies and parastatals of the ministry in Lagos. He acknowledged a few challenges in the operation of the ports which had to do with administration, the security and a few other things.
“I believe that with further interaction and interface, we will resolve all contending issues particularly as it affects the railways and to some extent maritime Ports Authority, National Maritime Safety Agency (NIMASA) and the Shippers Council’’.
“It is really out of sense that for a government which is hosting very serious critical infrastructure and agencies like the Ports and such a government is not benefitting. I think it is a bit absurd and I want to assure you that we will look at the possibility of meandering through the various legislations, to look at ways to best assist Lagos to have some share of benefits’’.

http://www.thenationonlineng.net/2011/index.php/news-update/14756-fashola-makes-case-for-efficient-rail-network.html

By Ekene Okoro, Snr. Reporter, Lagos

Minister of Federal Capital Territory (FCT,) Bala Muhammed, on Thursday led senior management staff of the ministry to understudy Lagos State success story in traffic management, environmental beautification, Internally Generated Revenue (IGR) and public-private partnership (PPP) policies.
Muhammed’s counterpart in Transport, Idris Umar, is also in Lagos on a tour of federal transport parastatals geared towards reviving the nation’s moribund railway system.
Muhammed, who was hosted at the State House, Ikeja, Lagos, by Governor Babatunde Fashola, said it would be a waste of the nation’s resources not to understudy the highlighted sectors of the economy when the state had made an enviable inroad into them.
He said, “We have come cap in hand on behalf of the President to tell you that Lagos is working, we want you to imbibe in us that culture for Abuja to be able to secure”.
According to him, Fashola has directly placed Nigeria in a positive limelight through transformation of the state, saying, “I have come to underscore a pact; we have come to appreciate excellence and performance.
“You have shown leadership and responsibility; we appreciate how you use problem to offer solutions; Lagos, under your leadership, has shown that Nigeria is working,” he stated.
He explained that President Goodluck Jonathan is committed to transformation, sound institutional development and determination to redress religious differences in the country.
“We have always known and considered you as our brother and consultant on the need to raise IGR for the FCT,” he noted, explaining that a railroad system is on the way for the FCT to take care of large number of Nigerians trooping into the capital on a daily basis, saying, “90 per cent of people working in Abuja live outside the city”.
On Abuja master plan, Muhammed said the project is on course, adding that some people in Abuja don’t have habitation.
“They pass the day or night anywhere they find themselves; our master plan is to ensure that our satellite towns are patronised so that pressure could be reduced on the city, that is why we are demolishing houses”.
Responding, Fashola commended the minister’s courage to seek knowledge on how to further develop the FCT, recalling how the idea of the acclaimed street signage and green revolution in the state came about.
“There is no monopoly of knowledge. Let me say here that the street signage was copied from Abuja, so also the greener revolution copied from Abuja and Egypt to Lagos.”

http://www.independentngonline.com/DailyIndependent/Article.aspx?id=38420

How do they rank the schools, out of curiosity? What metrics?

[quote author=Ileke-IdI link=topic=728064.msg8858469#msg8858469 date=1312525154]Someone has a name. se ko si? [/quote]Hehe, not at the top of my game right now. . . memory/cognition a little poor 

Lol. This was kind of funny

As someone said earlier, i guess they think that naija=yorubaland.

In any case, much better to be Nigerian than Ghanaian  

Wonderful, wonderful move if he can pull it off. Just as states need to be empowered relative to the FG, so do LGAs.

The Nation: Jonathan forges ahead with single tenure plan

Jonathan forges ahead with single tenure plan
================================================================================
Yusuf Alli on 03/08/2011 01:02:00

50 amendments likely in Constitution review Bill

GOVERNORS will soon lose their grip on local governments cash, if the Presidency
succeeds in pushing through a bill to kill the Local Government Joint Account.
The bill will also fix tenure for elected local government officials, contrary
to the situation in various states where two-year and three-year tenure systems
are being operated.
Besides, the Presidency may put on hold the proposed review of the revenue
allocation formula, until the Local Government Reform is carried out and
accepted by the governors.
But, despite public outcry, the Presidency is pushing ahead with its plans for a
single six-year tenure for President, governors and members of the National
Assembly, The Nation learnt yesterday.
The President is said to be leading the consultation team selling the proposal
to Nigerians.
"Even at the government level, there are divergent views. That is why the
President will be consulting many stakeholders and he is going to allow robust
debates on the proposal to guide the National Assembly in its decision," a
source said, adding:
"The draftsmen will revisit some documents, like the Abacha Constitution of
1995, the report of the National Political Reform Conference of 2005 and the
1999 Constitution Citizens’ Forum for Constitution Reform (CFCR), which
prepared a draft Constitution and the Pro-National Conference (PRORONACO)
Peoples Constitution."
President Goodluck Jonathan is considering between 30 to 50 sections of the 1999
Constitution for amendment.
Some of the proposed amendments are:
*six-year single tenure;
*fixed tenure for the 774 local government councils;
*abolition of Joint State-Local Government Account, as applicable in most
states;
*constructive true federalism; and
*removal of prison management from exclusive list to concurrent list.
Although the review of the revenue allocation formula may be part of the
constitution amendment, a source in the Presidency said the proposal would be
after the governors must have endorsed the Local Government Reforms.
The source said: "We are proposing several constitution amendments. It could be
up to 30 or 50. We have a lot to change and the proposal will soon be forwarded
to the National Assembly.
"The President will soon begin consultations with stakeholders on some of these
proposed amendments before sending the Bill to the National Assembly.
"Legal draftsmen are working on the sections to be amended and the details. When
stakeholders make their input, then the Bill will be fine-tuned."
According to the source, "one of the key areas is the local government system,
which has been virtually hijacked and crippled by governors". "Most states
operate different tenure systems for local governments; this is unacceptable,"
he said, adding:
"In fact, it has got to a ridiculous stage that in some states, caretaker
committees are in charge for as long as some governors wish.
"But the most crucial is our plan to effect a constitution amendment that will
lead to the abolition of Joint State-Local Government Account. Nearly all the
governors have abused this account system.
"Security reports have confirmed that funds meant for local governments are
being diverted by governors under the guise of joint account. These local
governments now only manage to pay salaries. Yet, it is the closest government
to the grassroots."
On the review of the revenue formula being asked for by governors, the source,
who is a senior government, official, said: "We cannot change the revenue
allocation formula, until the autonomy of local governments is guaranteed."
"The governors will also have to accept the reality that the local government
system must run effectively. The era of tampering with the local government
funds is over.
"If this is acceptable to the governors, the Presidency will also accept the
review of the revenue formula through constitution amendment," the source, who
pleaded not to be named, said.


http://www.thenationonlineng.net/2011/index.php/news/14500-jonathan-forges-ahead-with-single-tenure-plan.html

PointB:
@topic

The could get vaccine from trusted muslim countries; must we all suffer for their lack on faith in others?
Get over with this polio vaccine thing already, there are bigger fishes to fry!

+100

Get polio vaccine from Saudi if you are so paranoid. But perhaps Saudi will give it to them for free like the Westerners will, so they'll need to buy it

Crybabies and losers, both Tambuwal and Belgore.

So developed nations are sponsoring Boko Haram Are you sure?

Nigeria the best thing that ever happened to the black race? Is he high?

Blaming corruption on the foreigners too? Bleh

manny, you are right. They are basically selling off some assets in exchange for stock, it looks like:

http://www.winnipegfreepress.com/business/breakingnews/126587548.html

Above article is a lot clearer.

logica:
You are kidding right? Are those African countries by any chance North African? Those are probably the countries with near homogeneous populations. "Tribalism" is a human trait, and not African. Even European countries have separated in the 90s talk less of African countries. And believe you me, if you by any chance had a country formed by France and Italy, they will very quickly grind to a halt. This is why Awolowo said "Nigeria is nothing but a geographical expression, and is not a nation like France, et cetera".

Most of the Africans I know and hang out with are Ghanaian (plurality Akan), Ethiopian (several different ethnic groups, but at least united by a common tongue), or Kenyan which from what I know is fairly diverse ethnically, but ethnicity isn't really a big issue there.

I don't think tribalism is a big deal outside of Nigeria. At least this is the impression I have.

BTW, what is your threshold for homogeneity required for success? 50%? 80%? Keep in mind that Singapore is only about 75% Chinese or so. . . many of them from different subgroups/regions.

The other factor of course is interference by the so called "Western Powers". I have already mentioned the case of Patrice Lumumba and Congo several times today. Patrice Lumumba - progressive, intelligent, every bit the African the West cannot work with. But guess what, when the "Axis of Evil" aka Belgium and the US struck, they used the standard divide and conquer as there were tribal clashes. So again we go back to tribal differences.  A house already divided has already fallen. Interference is more difficult when the house is tightly bound.

The western powers interfere everywhere, not just in Nigeria/Africa. We cannot use that as an excuse, imo.

@alex101 and @logica: I understand your point. But if you want to use this tribalism/"too big" argument, then why are all these other countries in West Africa and most of Africa failures? Tribalism is mostly a Nigerian phenomenon as far as Africa goes. I don't really see it amongst most other Africans that I've met (just my general impression, not a fact by any means)

Would federalism or outright partitioning be enough to solve most of the problems? Benin Republic to the West isn't a great country, Niger Republic sucks, Chad Republic sucks, Cameroon isn't doing very well. And all these countries either have a dominant ethnic group or relatively little tribalism (at least to my knowledge).

Can we blame everything on tribalism? Seems a bit too simplistic, no?

logica:
Why would you not know how they were able to develop when it's already in your post? You need a light-bulb? They were formed on ethnic and political synergy (opposite of differences). A machine cannot work when all the cog-wheels are spinning in different and uncomplimentary directions.

So ethnic differences would have caused it to grow more slowly if they'd stayed with Malaysia? And your latter sentence, I take it to mean that Nigeria is also slowed down by having too many different "directions?"

You might be right. I'm not sure, maybe we'd be better off separately than together. But with the two countries mentioned earlier, Singapore thought it'd be better off economically with Malaysia than apart. Singapore actually gained independence as its own nation, then chose to enter a federation with Malaysia. I guess their rationale was that it is better to be the major port city of a large nation than on your own.

Mao imo sucked @ss. All that Cultural Revolution stuff helped to destroy the country.

Deng Xiaoping on the other hand, I think he was amazing. Will probably next on my reading list (after I finish with Lee Kuan Yew).

Btw, another thing that struck me when reading this book. I guess in 1971 or so, Britain shut down its base in Singapore. This base and the secondary effects represented 20% of Singapore's economy, and most of its security net against Malaysia, Indonesia and other countries in that area.

Yet Singapore took this hit and bounced back.

Oil today is what, 30% of Nigeria's GDP. If oil stopped today, would Nigeria bounce back and continue growing strongly like Singapore did after losing its safety net?

Part of the reason why Nigeria is the way it is because many of us are afraid of losing oil (me included in this "many of us", btw!)

Yet if we restructured the country, who is to see that the non-oil producing parts of the country wouldn't then find their own Lee Kuan Yews? Good leadership and good people seems to be the most valuable on earth, if Singapore is any indication.

I've been reading the book From Third World to First : The Singapore Story: 1965-2000 by Lee Kuan Yew over the past few days.

Just as a bit of background, Singapore is a tiny island nation in Southeast Asia that was formerly a British colony. It gained independence in 1963, joined a federation with Malaysia, and was kicked out of it by Malaysia (in part due to ethnic/political differences.)

So you have this very poor island nation with no natural resources whatsoever. Not even enough drinking water; they sourced their water from Malaysia. Surrounded by hostile countries like Malaysia and Indonesia who tried hard to enslave it through military and economic means. Yet despite this adversity, through excellent leadership Singapore is today one of the richest countries on earth.

Reading through his book, I got a very bad impression of Malaysia. Basically they come across as bigoted, backwards xenophobes. Yet despite all of this, even Malaysia has done a lot better than Nigeria: http://i55.tinypic.com/2iuqki1.png
(from the World Bank)

So where exactly did we go wrong as a country and continent? What excuse do we have for failure over the past 40 years? Singapore did it, and is not blessed with the natural resources that Nigeria is. People expected Singapore to fail, yet it succeeded.

This book has given me a lot of hope about how good leadership can set a country on the right path, but also made me a bit sad about how bad Africa has been run.

The way the deal is structured is kind of weird to me. Seems more like a merger of sorts than acquisition? I don't completely get it.

Oando, Exile Resources announce proposed acquisition
By Daniel Osunkoya
August 3, 2011 12:06AM
print email


The management of Oando Plc, an integrated energy group, yesterday notified the Nigerian Stock Exchange of the proposed acquisition and financing agreement between the company and Exile Resources Inc.

Exile Resources Inc. is a Canada-based public company currently engaged in the exploration, development and production of petroleum and natural gas in Turkey, Nigeria, and Zambia. Exile and Oando are joint venture partners on Exile’s Akepo oil field, located in Nigeria.

Oando, in a statement on Tuesday, said the two companies “are pleased to announce that they have entered into a term sheet dated July 28, 2011, providing for, subject to the completion of satisfactory due diligence by both parties and other conditions, the acquisition by Exile of certain interests of Oando in respect of Oil Mining Leases and Oil Prospecting Licenses (Upstream Assets) in exchange for 100 million post-consolidation common shares in the capital of Exile.”

The statement noted that the parties have agreed to negotiate exclusively with each other in good faith and use their reasonable efforts to negotiate a definitive agreement to give effect to the Acquisition on or prior to September 30, 2011.

“The manner in which the acquisition will be completed will be determined after each party has had an opportunity to complete its due diligence and consider all applicable tax, securities and other laws,” it stated.

Stan Bharti, Exile’s chairman, said, “We are very excited about this proposed transaction with Oando to build the leading indigenous upstream oil and gas company in Africa and believe this will produce great value for our Exile shareholders.”

http://234next.com/csp/cms/sites/Next/Money/5736819-147/story.csp

Nitel is $2 billion in debt:

http://www.thisdaylive.com/articles/nitel-s-n300-bn-liabilities-take-toll-on-sale/95844/

If they would just comply, we could eradicate polio from this planet. Alas. . .

The Associated Press
Published: Tuesday, Aug. 2, 2011 - 10:12 am
KANO, Nigeria -- An independent monitor says hundreds of parents are defying threats of jail time by refusing polio vaccines for their children in a high-risk northern Nigerian state.

Muhammad Abdu Zango, Kano state coordinator of Journalists Against Polio, said Tuesday that more than 200 parents refused the vaccine in one district alone.

Vaccinator Amina Ahmed says dozens more refused in another district.

The four-day drive targeted some 6 million children in a state that has recorded two new polio cases this year.

Authorities last week said noncompliant parents would be prosecuted. Parents have given various reasons to resist the vaccine.

Polio is largely eradicated in most of the world, but health officers say even a few vaccine holdouts can compromise an eradication campaign.

http://www.sacbee.com/2011/08/02/3811495/nigeria-hundreds-of-parents-refuse.html

(AFP) – 4 hours ago
ABIDJAN — A British man and an Italian kidnapped in May in northern Nigeria appear for the first time since their capture in a video sent to AFP Wednesday in which they say their abductors are from Al-Qaeda.
The roughly one-minute-long video sent to AFP in Abidjan is the first proof of life of the engineers since they were kidnapped from their apartment in Nigeria's northwestern Kebbi state on the border with Niger.
It was not clear when the film was made and this was impossible to verify independently. The video shows the hostages blindfolded and on their knees. Three men holding weapons stand behind them, their faces hidden by turbans.
The hostages give their names, which AFP has chosen not to make public, and each deliver a statement urging their governments to meet the demands of the kidnappers, whom they say are from Al-Qaeda.
However, no details of the abductors or their demands are given.
Italy's foreign ministry released a statement late Wednesday saying it was following the event "with the upmost attention" in liason with the British Foreign Office.
"The video of the two hostages which has been broadcast by the press is obviously being examined closely by the relevant institutions to confirm its authenticity," it said.
The British Foreign Office refused to comment on the video and photographs.
The engineers work for the B. Stabilini construction company, founded by Italians but based in Nigeria. They were kidnapped on May 12 by gunmen who stormed their apartment in Birnin Kebbi, capital of Kebbi state.
Police said at the time that a German colleague managed to escape by scaling a fence, while a Nigerian engineer was shot and wounded. Nigerian authorities had said that they had not had any contact with the abductors.
The workers were involved in construction of a Nigerian central bank building.
The video is accompanied by photographs of the hostages without their blindfolds. A source close to the case told AFP on condition of anonymity that the photographs were "about 10 days" old.
Abductions are rare in mainly Muslim northern Nigeria although there have been numerous kidnappings for ransom in the south, around the oil-producing Niger Delta region.
Al-Qaeda's north African branch, Al-Qaeda in the Islamic Maghreb (AQIM), has claimed kidnappings of foreign workers in neighbouring Niger in recent years, but never in Nigeria.
The Islamist Boko Haram sect is active in northern Nigeria, where it has carried out a series of deadly attacks, mainly in the northeast, but there has been no indication so far it has ever been involved in kidnappings.
"No one can tell you who the kidnappers are and what they really want because they have not made any contact," a subcontractor on the central bank project told AFP on condition of anonymity.
He said work on the project had stalled, with the site engineer -- the German who escaped during the kidnapping -- so shaken that he was relocated to the capital Abuja.
"In fact, everybody is disturbed and concerned about the safety and the condition of the two men," he said.
Copyright © 2011 AFP. All rights reserved

http://www.google.com/hostednews/afp/article/ALeqM5jcmuon5zFVrdQKfzuplR3B9pgK8A?docId=CNG.1990c2943612788ba4bed492da11c97b.411

http://www.ft.com/intl/cms/s/0/4209f536-bde8-11e0-ab9f-00144feabdc0.html?ftcamp=rss#axzz1U0AG3tjM

Royal Dutch Shell faces having to pay compensation of potentially more than £250m ($410m) after the Anglo-Dutch oil group admitted liability for two spills in Nigeria following a legal claim brought in the UK.

damn