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Ektbear's Posts

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Business › Re: Walmart In Nigeria by ektbear: 6:39pm On Jun 30, 2011
I like Walmart a lot, heh.

Always Low Prices!

Will be interesting to see how this works out.
Business › Re: Putting Sanusi's Islamic Banking In Perspective by ektbear: 6:37pm On Jun 30, 2011
Very interesting thread. Nice posts Katsumoto, always a pleasure reading what you write.
Business › Re: Hike In Electricty Tariff Comes July 1st by ektbear: 9:15am On Jun 30, 2011
Have a nice day too. Though for me my day is about to end, hehe
Politics › Re: Okonjo-iweala Is World Bank’s Second Highest Paid Official, Says Report . by ektbear: 8:32am On Jun 30, 2011
SEFAGO:
Speaking of that, why cant she even take a pay cut? I personally would be thrilled to have the opportunity to serve Nigeria in any capacity with significant paycut ( na lie but lets say hypothetically grin). Definitely not a selfless woman. Why do you have to pay someone in dollars- is she an expatriate??

As much as I respect her seems like the woman has oju kokoro sha. She is greedy sha  undecided
Not sure I agree with this. I mean, how much do you want her to earn? Whatever it is will represent a fraction of her World Bank salary, which itself is a fraction of what she could likely get in the private sector. If you are suggesting say a salary of $100K, that means she is giving up like $1 million+ over a 4 year period to serve her country.

And who wants to serve Nigeria if it is that expensive to do so?  undecided I sure wouldn't.

If she were worth like $50 million and thus most of her income were generated from her personal wealth rather than her salary, then sure, she might be willing to make that sacrifice. But for her, a substantial portion of her income comes from her salary rather than say returns shed off of investments.
Politics › Re: Okonjo-iweala Is World Bank’s Second Highest Paid Official, Says Report . by ektbear: 8:23am On Jun 30, 2011
iragbijile:
This is like Jon Stewart taking down the 'Faux' guys.

Impressive.  Now, how is Ijebu Ijesha University? grin grin grin grin grin grin

I'd love to send my kids there.
I thoroughly enjoyed my time there  grin grin grin I learned to speak Ijesha dialect fluently, double majored, and also went home on the weekends to tend my grandfather's farm  grin Best four seven years of my life!
Business › Re: Hike In Electricty Tariff Comes July 1st by ektbear: 8:19am On Jun 30, 2011
I understand your point, but you need to understand that that isn't enough for them to want to increase supply.

Anyway, let's agree to disagree, I suppose.
Politics › Re: Okonjo-iweala Is World Bank’s Second Highest Paid Official, Says Report . by ektbear: 8:13am On Jun 30, 2011
ZnO:
Where in  my post was such a comparison made? I know you are blind.
ZnO:
Buhahah! Aganga is Edo. Stop claiming him. Even at that, can you show us Aganga's salary so we can see for ourselves?
This is not an attempt to compare the salary of a Goldman Sachs employee to a World Bank employee? Hehe, you sure love backpedaling, don't you.

BTW, in case it isn't clear to you. . . Aganga is not the only person earning massive salary at investment banks. There are a fair # of Yoruba folk doing this.

My point is that the guys is not Yoruba.
That was one of your points. The other was that no Yoruba are earning what she is. . . which is obviously a moronic thing to say. Nobody goes to the World Bank to get paid.

And, asking to see Aganga's salary happens to be comparison to you
Pray tell, what else is it? Backtracking, o thou hydroponics expert?

How do I compare Aganga's salary that I have not seen to a WB salary that is mentioned here?
Are your hands not functional? Can you not use google? Or better yet, ask people you know who work in the industry for what the pay scales look like? Our job isn't to feed you common knowledge.

All these ijebu ijesha university students with half a brain.
Hehe. Indeed, just as you did, I also went to a 3rd rate university in Nigeria. Not a 1st-rate one within the US grin

Even my grandfather from what I'm told got his teaching certificate from somewhere reasonably OK. And this was a man whose father was a stark illiterate. You may not even be on the same level credential-wise with my grandfather, talk less of me  grin

We are not mates, professor of crop production and hydroponics.
Politics › Re: Taliban Attacks Ribadu’s Hotel In Afghanistan by ektbear: 3:37am On Jun 30, 2011
[quote author=alex_101 link=topic=702354.msg8619475#msg8619475 date=1309401178]If by act any of omission or commission, Ribadu is captured and beheaded by the Taliban in afghanistan, the Yorubas are to be blamed. If the yorubas had not deserted ribadu on the day of the presidential election, by now he could have been in aso rock and not in danger zone afghanistan.[/quote]grin grin grin

You are a very funny Heebo man, alex_101 smiley
Politics › Re: Is The Fg Really Serious About Improving Power Supply? by ektbear: 2:40am On Jun 30, 2011
Interesting.

I'm a bit envious of China btw
Politics › Re: Okonjo-iweala Is World Bank’s Second Highest Paid Official, Says Report . by ektbear: 1:41am On Jun 30, 2011
lmao @ ZnO comparing Goldman Sachs salary to World Bank salary
Politics › Re: Daniel ‘sold' Olumo Rock Before Leaving Office (lol) by ektbear: 1:34am On Jun 30, 2011
Eh, jensinmi, if I see good I'll praise it, if I see bad then I'll comment on it.

BTW, I disagree with your analysis of Fayemi. He is doing a pretty good job, from what I understand.
Business › Re: Hike In Electricty Tariff Comes July 1st by ektbear: 1:18am On Jun 30, 2011
@hercules07: PHCN (or whoever ends up buying them) doesn't care about your your gen and how much you pay to fuel it.

All they care about is how much you are paying for what they sell you.

I understand your point, and how it seems unfair on your end. But that is the only way there will be abundant electricity in Nigeria.

There is no other way.
Politics › Re: Daniel ‘sold' Olumo Rock Before Leaving Office (lol) by ektbear: 4:09pm On Jun 29, 2011
Gbawe, I don't have any personal problem with Amosun. I just think he can convey his points (that OGD messed up the state financially) w/o telling us strange things that are at best misleading.

At any rate, at some point we'll have to stop blaming OGD and fix the situation on the ground.
Politics › Re: Lagos Begins E-registration by ektbear: 4:04pm On Jun 29, 2011
Bravissimo!

The march towards progress begins now.

Kudos, Fashola smiley
Politics › Re: Marginalisation: S/west Pushes For Nass Commission Chairman. by ektbear: 3:41pm On Jun 29, 2011
What is the point of a NASS commission chairman, anyways?

If I were these PDP SW folk, I'd suffer for 4 years while complaining loudly about marginalization, and then ask for something really good at that time.

You should have your eye on oil minister or plum positions like that, not this.

Being able to play victim is a powerful tool. Spend this capital on something valuable, imo
Business › Re: Hike In Electricty Tariff Comes July 1st by ektbear: 3:32pm On Jun 29, 2011
So at the end of the day, you pay N15.6 for every kWh you consume, compared to the N19.763 I pay. N4+ cheaper than me.

And I imagine that it is more expensive to generate electricity in Nigeria. . . probably meaning a big loss for the electricity company on every metered unit of electricity it sells. How much should we guess they lose, N5? Maybe more?

Good luck getting them to hand out meters to everyone, or for the power supply to improve in Nigeria. I wouldn't be interested in providing either if I were PHCN, under the current pricing.
Politics › Re: Nigerian Varsity To Buy Electricity From Cameroun by ektbear: 3:23pm On Jun 29, 2011
[quote author=aloy-emeka link=topic=701567.msg8615863#msg8615863 date=1309357173]Didn't you read about American universities buying lands in Africa lately?. The university is a "for profit" one and can as well divest as it deems fit while helping out their host communities as well. Buying electricity from Cameroun shows their allegiance to Nigeria. They churn out half baked graduates yearly and blame our govt for not employing them when they helped export jobs to nearby countries. If you truly love Nigeria, show us by investing there, period.[/quote]I don't think that is a good way to approach things. People (and organizations) should focus on their core strengths, not stuff unrelated to their main goal. If I open up a bakery, that doesn't mean I need to also open up a farm to provide my bakery wheat, for example. Nothing wrong with buying wheat from someone else.
Politics › Re: Daniel ‘sold' Olumo Rock Before Leaving Office (lol) by ektbear: 3:19pm On Jun 29, 2011
Borrowing to pay salaries.

Can you imagine? Can you imagine how badly that would ruin the state?

Not borrowing for roads, electricity, education. . . but for salaries?

Lmao

Let him borrow too to give out free amala to everyone
Politics › Re: No Way For Acn In Kwara State – Saraki, Waziri Of Ilorin by ektbear: 3:13pm On Jun 29, 2011
Always nice to hear from our resident expert on Yoruba issues, abadaba Andre Uweh.

Well done.
Politics › Re: Daniel ‘sold' Olumo Rock Before Leaving Office (lol) by ektbear: 3:12pm On Jun 29, 2011
The power plant "70s" comment is just benchmarking?

Saying he will have to borrow N4 billion to pay salaries (even w/o the raise to N18k) is also just benchmarking?

Both sound like sensationalism and grandstanding to me and don't pass the smell test.
Politics › Re: Nigerian Varsity To Buy Electricity From Cameroun by ektbear: 3:07pm On Jun 29, 2011
When did it become a university's job to "invest in our power sector?"

I thought a university's job was to educate and do research? Let them focus on what they are good at, and hire out/buy from elsewhere what they need but isn't their job.
Politics › Re: Daniel ‘sold' Olumo Rock Before Leaving Office (lol) by ektbear: 3:03pm On Jun 29, 2011
Even salaries. Are there no ghost workers in Ogun State like in all other states in Nigeria?

You will look to borrow N4 billion rather than thoroughly auditing the system, cleaning up redundancies, etc?

Smh. "High-handed statement", indeed.

I don't love the ACN more than I love Yorubaland. I'm unwilling to accept mediocrity just because it is wrapped in ACN packaging.
Politics › Re: Daniel ‘sold' Olumo Rock Before Leaving Office (lol) by ektbear: 2:53pm On Jun 29, 2011
Alright. Let's then look at what he said, see if it makes any sense at all. Let's see if I was out of line to tell him to stop b1tching.

iragbijile:
Mr Amosun said the financial position of the state is bad and that the state needs to borrow about N4 billion to pay its salaries.

"If civil servants wants N18,000 minimum wage, we will have to borrow about N6 billion. All our assets have been concessioned," he said.
Borrow N4 billion to pay for salaries? Why? Even if Gbenga Daniel had sold off everything, is there no federal allocations?

His excuses just don't add up. Was Olumo Rock the one generating this N4 billion to pay salaries? Doubtful.

Too much complaining, not enough solutions. N50 billion is less debt than Kano State, Kwara and many others have, and yet Ogun has probably the highest economic potential of the non oil-producing states in Nigeria (after Lagos, of course.)

If Ogun State only generates N1 billion in IGR, then that means there is plenty of room for improvement. So roll up your sleeves and find ways to increase revenue. Including seizing any assets that OGD sold off/concessioned off too cheaply.

I also have no clue what he is going on about power plant technology from the 70s. Power plant is not a t-shirt that wears out in 2-3 years. If the initial feasibility studies were fine, complete the project rather than cancelling it and wasting the money OGD spent.

I don't want to hear his excuses, man. Ogun State has too much potential that a creative man can harness TODAY if he is willing.

Less excuses. Time for Amosun to roll up your sleeves and get to work, imo.
Business › Re: Hike In Electricty Tariff Comes July 1st by ektbear: 2:42pm On Jun 29, 2011
You have a meter, right? How much electricity did you use to get that N5K bill? Give me a #.

I paid 13.175 cents per kWh (from my power company's site). . . so N19.763. How much did you pay for each unit of energy you bought?
Business › Re: Hike In Electricty Tariff Comes July 1st by ektbear: 1:59pm On Jun 29, 2011
hercules07:
ekt_bear

What comes first, proper supply of electricity or hike in tariff, why are they punishing us in order to attract foreign investors? I have not had electricity for over a week, yet my bill will come at the end of the month. Our Government needs to stump up the cash to revamp the power sector first before they increase tariff, MTN provided service before giving us killing bills, the funny thing is if there is constant electricity, Nigerians will not grumble too much about the tariff (initially sha o).
Hike in tariff comes first. You have a meter, yes? Look very well at how much you pay per kWh for the electricity you receive. Tell us how much you consumed in the past month and how much you were charged. I am guessing that you paid 1/2 or 2/3 the price per kWh I did in the past month.

Yet is it cheaper to generate that kWh in Nigeria than in the US? No, it is not.

In a nutshell, the price must go up before the supply will increase.

In case it isn't clear, I'm not a GEJ fan at all. But he is doing the right thing.
Education › Re: World Top 500 University Ranking - 2008 by ektbear: 11:02am On Jun 29, 2011
Interesting list smiley
Politics › Tinubu Praises Awo And Other African Statesmen by ektbear(op): 3:37am On Jun 29, 2011
Tinubu praises Awo
on JUNE 29, 2011 · in NEWS

BY EMMANUEL AZIKEN, POLITICAL EDITOR
Erstwhile governor of Lagos State and national leader of the Action Congress of Nigeria, ACN, Asiwaju Bola Tinubu has praised the late Chief Obafemi Awolowo among other African statesmen for his wisdom in projecting the interests of the African continent.

Tinubu spoke at his investiture as a winner in the maiden African Servant Leadership Awards (ASLA) of the Graduate School of Leadership and Governance, Accra, Ghana.

While noting his devotion to the cause to the downtrodden, Tinubu admitted that he may not be perfect but committed himself to the duty of improving the lot of other Africans.

Acknowledging Awolowo among other African freedom fighters, Tinubu said for their sacrifices, he said:
“Kwame Nkrumah pioneered the way when times were more unjust than these. He devoted his entire being to Mama Africa. He was an excellent son. We follow him.

Sekou Toure refused to be anyone’s servant. Patrice Lumumba gave his life as did Samora Machel. Obafemi Awolowo gave his wisdom. Nelson Mandela has given his years. They were and are excellent sons.”

“If these sons of Africa can make such sacrifices, we must make our own. We must build a strong edifice based on the foundation which they made out of their bravery, hope and love for the people, and of the land.”

“I may not be perfect. I don’t know of any human who is; but I can tell that I am a dutiful and hardworking son. And when your mother is put to stress and constant pressure, there is no limit to the effort a loving son will undertake to end her troubled, sweaty toil; so that she may become happy and prosperous. Thus, anything I have done to deserve this award is nothing but the exertion a son makes for his mother; and the rest of her children who are my brothers and sisters. I have done nothing but my familial duty.”

Stressing the need for greater collaboration among African nations, he said:

“Why can’t we pool our resources together to fund research for better treatment and prevention measures? We should no longer rely on the outside world to fund efforts to eradicate our major medical problem. This problem is not theirs. It is ours which means it is not only a medical problem, it is a test of our political will and love for the poor and weak among us. If we wait for others to solve it, we will be waiting for the longest time.”

Expressing hope in better prospects for the continent, he said:

“I see our children no longer suffering the deprivations wrought by war and armed conflict. I see peace establishing itself in this continent.

Ultimately, I see a new breed of young men and women taking over public leadership and implementing laws and policies based on equity, transparency and liberty. I see them shunning the divisions of the past and working together to promote the welfare of every African regardless of race, ethnicity or creed.

I see a blossoming of democracy and good government; such that we shall no longer take lessons from the rest of the world but the world shall receive her better lessons from Africa. I see a day when Africa will be looked to for advances in the arts and sciences, as well as in politics and economics.”

http://www.vanguardngr.com/2011/06/tinubu-praises-awo/
Business › Nigeria’s Economy May Overtake South Africa By 2025 - Morgan Stanley by ektbear(op): 3:27am On Jun 29, 2011
Nigeria’s economy may overtake South Africa’s by 2025 to become the biggest on the continent as oil prices climb and consumer spending in Africa’s most populous nation expands, Morgan Stanley said.

Gross domestic product, which will probably reach $400 billion by the end of the decade, is forecast to increase 8.4 percent in 2011 and 8.5 percent in 2012, Andrea Masia and Michael Kafe, economists at Morgan Stanley in Johannesburg, wrote in an e-mailed report today.

Crude output in Africa’s biggest oil producer is estimated to climb 9.5 percent to 2.3 million barrels a day by 2012 from last year, while oil prices may average $113 a barrel over the next year, Morgan Stanley (MS) said. Rising wages and an increase in borrowing is also helping to boost consumer spending in a country of 150 million people, the bank said.

“The sources of output growth are broadening and accelerating, retail trade is vibrant and its financial markets are deepening,” Masia and Kafe wrote. “The economy is on a growth charge.”

Nigeria’s economy is forecast to climb to about $400 billion by 2016 from $268 billion this year, while South Africa’s is expected to reach more than $500 billion from $383 billion in the same period, according to the International Monetary Fund.

Economic Boom

South Africa’s central bank expects economic growth of 3.6 percent in 2011 and 3.9 percent in 2012.

Nigeria’s economic boom may push the market value of the equity index to $1 trillion in five years time from $74 billion currently, Oscar Onyema, chief executive officer of the Nigerian Stock Exchange, said today. South Africa’s bourse has a market value of $494 billion.

Minimum wages in Nigeria more than doubled to 18,000 naira ($114.69) a month before elections in April after remaining unchanged at about 7,500 naira since 2000, Morgan Stanley said. Public-sector wages are budgeted to rise 20 percent in 2011 and 10 percent in 2012, helping to spur consumer spending, it said.

The naira, which may strengthen to 153 against the dollar by year-end and 150 by the end of 2012, “should help to lift consumer confidence and support the retail sector,” Morgan Stanley said. The wholesale and retail trade industry accounted for 19 percent of GDP in 2010, higher than oil, which makes up 15 percent, the bank said.

Morgan Stanley recommends investors buy shares in Guinness Nigeria Plc (GUINNESS), Nestle Foods Nigeria Plc (NESTLE), Diamond Bank Plc (DIAMONDB) and Guaranty Trust Bank Plc. (GUARANTY)
http://www.bloomberg.com/news/2011-06-28/nigeria-s-economy-may-overtake-south-africa-by-2025-morgan-stanley-says.html
Romance › Re: Nigerian + American = Undateable? by ektbear: 3:21am On Jun 29, 2011
pleep:
Wow. I read through the recent posts on this topic, and it seems to me like the prerequisit for becoming a female non-Nigerian nlander is a taste of yoruba manliness.

Almost all of you are dating yorubas, I bet even the Op is half yoruba. Dis ppl are multiplying ooo.
Lol grin
Celebrities › Re: I Feel Cheated. I Should Have Won- Grace Ndam by ektbear: 3:10am On Jun 29, 2011
MRbrownJAY:
maybe she slept talked with someone that assured her she would win?!
if winning was only about answering the right question then the whole of 9ja could have won it.
lmao grin

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