₦airaland Forum

[quote author=isale_gan2 link=topic=490918.msg8689699#msg8689699 date=1310320688]I understand your annoyance, Katsumoto.  I felt similarly when an active thread of mine kept getting moved.  But, Seun previously explained (surprisingly humbly, I might add) that interest/participation in the Business/Money section is waning and he is attempting to reinvigorate it.[/quote]This is dumb reasoning by Seun, then. Don't ruin someone else's thread to help your own section be "reinvigorated." Reinvigorate it yourself.

^-- Cosign.

Stop killing these discussions on Islamic Banking and Sanusi by moving them to a section where nobody will read it!

why the fvk did this get moved to the business/money section? Wtf is wrong with these mods?

Thanks for this thread.

Imo, naijaking1 has hit it on the head. How on earth should we know he is brilliant (and by brilliant, I mean raw brainpower)? We have no real way of knowing this. No independent 3rd party evaluations, no standardized exams, no outstanding papers, not even excellent writings on the internet.

So what is the basis for claiming he is brilliant?

As an aside, I have a problem with the way the CBN head was chosen. Now, Soludo is no Bernanke and probably not even a Carstens (I don't know enough about this latter guy to say.) But he is probably amongst the best we have in Nigeria at this point in time, no?

So why not appoint the best you have, for such a critical position like CBN head? This is the danger with things like federal character. Nobody is going to let federal character be the principle by which they chose a brain surgeon. . . you look for the best brain surgeon you can find! Because if you don't, you increase the chance of you dying in the surgery. So why would anyone do this for the CBN governor?

Interesting interview.

@dem_people: So what did he say?

According to Mr Dokubo, there is only one government in Nigeria and that is the Lagos State government. "All the 774 local governments, other 35 state governments, the FCT administration and the federal government are no government at all" he stated.

He argued that only in Lagos is budget prepared to meet the need of the people. "What does Rivers State need a mono rail for?" he asked, citing an example. "Governments in Nigeria implement project only to soothe political muscles and boost egos, not to meet the need of the people," he said.

Hehe

That is a pretty nice quote. Carry go, Fashola

Though I must say that Fayemi of Ekiti is imo doing pretty well.

naijaking1:
Alh. with all due respect to those who have advanced degrees in Islamic or even Christian religious studies, the job of CBN governor is not for you, because it's very technical and very "economic technically" oriented.

World class economist would agree that a basic BS in economics is just a beginner in the field, so you need a small advancement in the field to understand what's going on better. That advanced field is not Islamic studies. When discussions in economics reach certain levels of complexity, our CBN governor will simply get lost.

How does he make up for his deficiency? Well, by mounting circus shows of quasi-economic, social, religious, and even political issues all around town.
When you're a carpenter, every stick resembles a hammer, and when you're a surgeon, every nodule seems to be begging to be surgically removed, and when you're an Islamic scholar, every policy about non-interest banking has Sharia Islamic banking written all over it.
You see

Well said. Compare Ben Bernanke's resume to Sanusi's, just to give you a sense of how much more depth other countries require for this position

Did Sanusi not invoke his name in justifying why Islamic banking should be continued? Didn't he market it as the completion of something Soludo initiated?

If you agree with the above, and it turns out that Sanusi falsely characterized it as something Soludo also did, then why isn't Soludo speaking up? Is this not cowardice?

Hrm. So why was he acting as if Soludo and this John Sanusi were the ones who initiated Islamic banking?

Speaking of which, why is this coward Soludo so silent on the matter?

Didn't think the plot could get any thicker, but somehow it did.

pleep:
and for machines you need a steel factory. . . 

Or import processed steel?

PapaBrowne:
I beg to disagree!  While I think it is important to industrialize in order to develop, I also think the global landscape is changing such that a country can actually choose to toe the Knowledge/Service route in its quest for development. A knowledge based economy these days could be as important as an industry based economy.

Won't create enough jobs

Even if we make power cheap and infrastructure more efficient, we can never come down on our high labor costs! Nigerian engineers already earn much higher than their counterparts in Eastern Europe.

Really? Can you give some #s so we can get a sense of how the costs compare?

@OP: That first video was kind of cool. Didn't realize the importance and function of these commodity boards. Seems to be very important.

kasiem:
So, with the votes going to two candidates in the name of one party, apga's single candidate(chuma nzeribe) was displaced with a thin margin.

Shouldn't this have helped APGA rather than hurting it? You always want your political opponents to split their votes as evenly as possible. Facing 1000 PDP candidates is better than facing 1 PDP candidate, is it not?

Or maybe I'm missing something or misunderstanding your post.

How much does the FG spend/year on pilgrimage-related activities?

By Chinwendu Nnadozie Snr Correspondent, Minna

Leader of the 2010 Muslim Pilgrimage in Niger State and Chief Justice of the state, Justice Jibril Ndajiwo, has urged the Federal Government to hands off annual pilgrimage to state governments, who are the direct beneficiaries.
Handing over of all preparations on pilgrimages to state governments, according to him, has become necessary as states deal directly with individual pilgrims.
He also said that because the Federal Government has its hand full of other exigencies and therefore will have little or no time attending to the demands of logical conclusion of the exercise.
Ndajiwo, who stated this while submitting the report of the 2010 Hajj Committee to Governor Mu’azu Babangida Aliyu, also accused the Federal Government of failing in its responsibility to effectively handle all pilgrimage-related affairs in Mecca and Medina.
He said since traveling to Mecca and Medina has become an annual religious trip by Moslems, states and federal governments should allow religious leaders to handle some aspects of the hajj operations.
Providing adequate accommodation and feeding throughout the duration of the pilgrimage are part of key areas the federal and state governments have failed and it is expedient that leaders of pilgrims from respective states should be given the leverage to choose who to take charge of their feeding and accommodations, Ndajiwo also pointed out.
The team leader argued that a situation whereby more than seven pilgrims had to share a single room while over 40 subjected to share a one toilet in the Holy land is unacceptable and the trend should be checked if we must get it right.
“The experiment embarked upon by the National Hajj Commission to exclusively provide decent feeding for all Nigerian pilgrims at Arafat and Mina ran into serious difficulties, but for the timely and mature intervention of the pilgrim officials, pilgrims out of frustration and desperation would have taken the laws into their hands.”
According to the 2010 Muslim Pilgrims leader, “We highly recommend that the states be allowed to arrange for feeding of their pilgrims as against a central feeding system whose efficiency we cannot guarantee.”
Responding, Governor Mu’azu Babangida Aliyu promised to officially communicate to the Federal Government about the lapses with a view to correcting some of them.

http://www.independentngonline.com/DailyIndependent/Article.aspx?id=32642

@alj harem and @tpia: I don't think nuclear power specifically is that important. You just need power. Btw, some of the countries which use nuclear power get a negligible amount of their electricity from it (see China at less than 2%, SA at 5%): http://en.wikipedia.org/wiki/Nuclear_power_by_country#Nuclear_power_output_in_megawatts

So it isn't that big a deal.

There is no need for nuclear in a country with some of the largest natural gas reserves on earth. Would you really trust nuclear power in a country like Nigeria? 

Who wants their village/ethnic group to be wiped or destroyed by radiation when something goes wrong with the plant

Regarding steel mill: For me, I want to get the low-hanging fruit before worrying about the more difficult things. You can create a pretty nice economy and employ a lot of labor even if you just focused on textiles and food processing. And it doesn't require any sort of heavy government investment. Focus on dominating light industry in Nigeria and West Africa before going for heavy industry.

I disagree about Nigeria not being able to industrialize just on private sector alone. If there is 24/7 electricity, all those textile shops which they have in Eastern Asia, I don't see why I cannot have them in Nigeria. What structural disadvantage would Nigeria have? Labor is relatively cheap in Nigeria just like it is in Asia.

If 24/7 electricity happens, most of these things will happen naturally. Nigeria will be able to produce goods competitively against the rest of the world. People will open up small textile businesses, food processing facilities, etc.

afam4eva:
The other day ekt_bear was asking what business states have owning hotels. How then you u expect us to develop as a nation if we're going to leave everything to the private sector. Taxing these companies  may not necessarily take you to where you wanna be.

I think that the government should provide the proper environment for things, but leave most of the heavy lifting to the private sector.

Anyway, owning a hotel doesn't help in industrializing. I assume the OP means heavy or light industry that actually makes stuff and employs lots of labor. Hotels don't fit that description.

Besides, either (A) a hotel venture is going to be profitable, in which case the private sector will step in and build it or (B) it isn't profitable, in which case the government has no business being in it

Ibime, you will not support your ND brother in this rally?

What happened to SS solidarity

EDIT: Nm, misread article

ZnO:
Hahahah! Aganga is not actually Yoruba, though he is a Yoruba wannabe

It is hard to say. I am not sure that he isn't Yoruba. There are Yoruba speakers with Yoruba names who are indigenous to Edo State. . . on boundaries, ethnicity can become ambiguous.

Anyway, if he calls himself a Yoruba man I accept him. If he calls himself Edo, that is fine too. Not mutually exclusive

Lawsuit?

djustice:
This is what you and me are funding with the taxes we pay: Oil subsidies so our dear brothers from Cameroun, Chad, Niger, Republic of Benin, Togo, Ghana, Mali, Congo and so on can enjoy our generosity.

Nigeria is the richest country on earth, so can afford to subsidize the oil consumption of its neighbors

I think someone mentioned $4 billion or so in petrol subsidies spent by Nigeria per year. Would anyone be surprised if it turned out that 50% of this was smuggled abroad?

Hehe. It is such a funny phrase. He wasn't really trying to be harmful or too disrespectful, just wanted to be edgy (watch the video on youtube.)

I don't agree with the premise here. Timbuktu, Sokoto, Egypt, Ethiopia, North Africa just to name a few places.

Sefago, are you like this in RL? I assume that it is purely an amusing NL persona

You don't understand how the game works, I guess. But how can you understand it, when you've never played it?

Commentaries have ZERO value! They give you ZERO points in this game! No one gives a sh1t, dude. You can't get a position even at Bowie State University based upon a one-page SUMMARY of other pieces of work published in a biosciences journal

So a one page commentary in a medical journal is what will get you a faculty position in economics?

Are you high as a kite, man?

God you are a dumbass

Lmao.

Alright, we are done here. Maybe I should post the full text of this "paper" that you think is enough to get a faculty position even at Bowie State University, not to talk of anywhere decent

I am starting to wonder if you are trolling or you genuinely believe what you write