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Politics › Re: Hillary Clinton Edited Out Of White House - Osama Photo by ektbear: 6:06am On May 10, 2011
^-- Hmm:

That would be the [size=14pt]Ultra-Orthodox Hasidic[/size] broadsheet Der Tzitung, published in Brooklyn. The paper photoshopped Clinton, as well at the only other woman who could be seen in the room--Audrey Tomason, the national director of counterterrorism--out of the frame.
http://news.yahoo.com/s/yblog_thecutline/20110509/ts_yblog_thecutline/wheres-hillary-hasidic-paper-breaks-the-rules-by-editing-her-out-of-white-house-photo

We should all join hands to say no to religious extremism/zealotry. Whether Jewish, Muslim, Christian, Hindu, or whatever  undecided

Such beliefs are not compatible with modern society.
Politics › Re: Ajimobi Girls [nuff Said] by ektbear: 5:59am On May 10, 2011
I'm a fiend for dimples. Girl on the right is tiny, but looks cute.


lmao @ PhysicsMHD
Politics › Re: Oyo Govt Flags Off Training Of 24,750 Youths On Wealth Creation by ektbear: 5:22am On May 10, 2011
Very strange guy.

Spending as money as he can before he leaves office, I guess undecided
Politics › Central Bank Losing Battle To Defend Naira by ektbear(op): 5:19am On May 10, 2011
By Stanley Oronsaye
May 10, 2011 12:17AM
print email


The Central Bank of Nigeria (CBN) seems to be losing the battle to keep the naira within the two or three percent band as the naira closed N153.03 yesterday at the official window. This is 4.03 percent above the figure at which it opened the year. Even though demand for dollar has dropped in line with the CBN projections, the value of the currency is still depreciating. At yesterday’s Wholesale Dutch Auction (WDAS), the CBN sold $300 million, compared to $350 million supplied at the previous auction. The depreciation may be in deference to the recent advice by the International Monetary Fund (IMF) that the CBN should allow market forces to determine the real value of the currency instead of the earlier approach by the CBN to defend the currency using the foreign reserves. This led to massive depletion of the foreign reserves which dropped to $33.45 billion from a peak of over $62 billion in 2008.

Fiscal and monetary policies

According to the Nigeria mission chief of the senior resident representative of the IMF in Nigeria, Scott Rogers, that advice, issued in November is still relevant. Speaking at a forum last week in Lagos, he said there is need for coordination of fiscal and monetary policies. “The dilemma is, do you allow the exchange rates depreciate, or do you raise interest rates, both of which have adverse and beneficial effects.”

He said allowing more flexibility in the exchange rate would mean less pressure on the foreign reserves and interest rates. “The CBN has to bring all the tools at its disposal to respond to the shock in the economy. The Central Bank has made it quite clear the importance of exchange rate stability in their strategy. This is a sovereign decision and we respect it.”

He said going forward, the IMF would be tailoring its advise to achieve the stability and bring down inflation. According to him, the government would have a task of bringing interest rate down unless it first reduces the inflation rate.

Mr Rogers said the increase in interbank rate from two percent in September to 10 percent was significant considering that the country has earned more during the period. “Oil production is at between 2.3 to 2.4 million barrels per day and foreign reserves are not rising. The question is, how high do interest rates have to go to get reserves to start rising. One answer to that question depends on the budget.”

Fiscal discipline

He said once there is fiscal discipline, the government would save more and the pressure on the exchange rate would ease. Already, the minister for finance, Olusegun Aganga has said government is determined to ensure fiscal discipline in this year budget. According to him, the original N4.226 trillion budget sent to the National Assembly was meant to mark the beginning of fiscal consolidation and to narrowed the deficit to 3.26 percent of GDP from 6.06 percent in 2010. The National Assembly raise the figure to N4.9 trillion. Mr Aganga said the budget as passed by the legislature was unimplementable saying he was concerned about the high level of borrowing that it would induce. This would further put pressure on the interest rates and inflation.

http://234next.com/csp/cms/sites/Next/Home/5698820-146/central_bank_losing_battle_to_defendnaira.csp
Politics › Re: 15-year-old Naija Girl Is Harvard/ivy-bound by ektbear: 4:55am On May 10, 2011
that profile is worth viewing, lol

she is pretty hot
Politics › Re: Speakership: Northern Caucus Backs South West • Mounts Pressure On Jonathan by ektbear: 4:23am On May 10, 2011
PhysicsMHD:
They have a disproportionately high influence. They call too many shots. An example of this is OBJ being "elected" president because of his Northern connections, despite not being wanted in the south.
Fine, I agree, historically that has been the case. But if we are supposed to believe all these GEJ sycophants voters, those northern elements have been marginalized and excised out. "Fresh air", all that jazz.

Though in this case, I agree with them.

There are three southern zones. What do you mean by outnumbered? Population wise?
Indeed, by the fake population figures, yes.

What do you mean by this?
I thought the story being sold before was that this new PDP is a NC+SS+SE alliance. So if the North is still dominating things. . . someone really fvcked up, basically.



I meant that the issue of fake population figures and bold faced lies like "Kano state is more populous than Lagos" could be a pretext for taking Nigeria from the system it currently practices to a system in which different areas have more autonomy. If they want to keep the population claims, let them, but the system should be set up in a way that their supposed population dominance does not affect the ability of other areas to govern themselves well.
I'd like an accurate census as well (Lagos's pop is clearly underestimated, I suspect the same of Oyo), weakened central government, all that stuff too.

But to paint the current events as some Northern domination plot seems. . . weird to me. It is just some horse-trading. Doesn't seem nefarious to me.
Politics › Re: Speakership: Northern Caucus Backs South West • Mounts Pressure On Jonathan by ektbear: 4:15am On May 10, 2011
[quote author=Chyz* link=topic=663672.msg8289406#msg8289406 date=1304996688]Yes they do. Its quite clear that you've forgotten how many seats the opposition got. It's a lot. The SE leaving to join APGA would devastate PDP. Leave your sentiment alone, because you're not making sense with it.[/quote]Looks like you are correct:
For the House of Representatives, of the total two hundred and thirty four seats declared, one hundred of the seats went to the PDP. Evidently the new chief opposition party, Action Congress of Nigeria (ACN) carted home forty seven of the declared seats. Other parties shared sixty-four seats.

The scenario is not different with the elections into the Senate. Of the seventy two seats declared, PDP took a large chunk of forty-five seats with the ACN coming a distant second with thirteen seats. Other parties split a dismal sixteen seats. Elections into state houses of assembly show similar patterns.
http://allafrica.com/stories/201105090750.html

Not sure why I thought they had a much higher fraction of each body.
Politics › Re: Speakership: Northern Caucus Backs South West • Mounts Pressure On Jonathan by ektbear: 4:10am On May 10, 2011
PhysicsMHD:
The point is that PDP needs to be exposed as a Northern party, not a party of unity.
Why do you say that the PDP is a Northern party? What is your basis for saying this? OBJ and various other scoundrels distributed across the country seem to be the prime movers.

If all of the south leaves PDP, there's

1) a chance of a southern alliance (which could lead to meritocratic practices in many spheres of life being adhered to, if that alliance was to win
Outnumbered by the 3 northern zones

2) a chance of the completely northern PDP weakening and fracturing along middle belt vs. core north lines, and the north being permanently weakened, or the middle belt might choose to align with one or all of the southern groups

3) a chance that if the southern alliance or the non-PDP parties are unable to beat the northern PDP, then the issue of the bogus northern population figures may be looked into and pressed by the southern groups. If this issue isn't rectified, perhaps it could be a good pretext for changing the power structure of the country to a more federal one, with more autonomy for different areas
If that happens, then effectively you've replicated the PDP, but with the northern elements kicked out and weakened. It seems to me that if your goal is to weaken the Northern elements, there are probably better ways of doing it, no?
Politics › Re: Speakership: Northern Caucus Backs South West • Mounts Pressure On Jonathan by ektbear: 4:00am On May 10, 2011
[quote author=Chyz* link=topic=663672.msg8289381#msg8289381 date=1304996113]A big chunk of the "majority" are from the SE. duh. If the SE leaves the opposition grows and PDP 's influence becomes weak.[/quote]Do they lose their overwhelming majority even if all of the SE leave for APGA? No, they do not.

jason123:
Because the Sw already abandoned it, if the SE abandons, the SS will surely abandon it. But forget all bruhaha about SE=SS that has been created by the internet war lords.Although, I see this a very good political unity that is VERY beneficial but we in the SS make our independent decisions except when the "two" move to a particular direction.
LMAO. If my papa becomes president, I'm not leaving his party for anyone  grin

No chance of the SS leaving PDP while GEJ remains in office
Politics › Re: Speakership: Northern Caucus Backs South West • Mounts Pressure On Jonathan by ektbear: 3:54am On May 10, 2011
[quote author=Ileke-IdI link=topic=663672.msg8289372#msg8289372 date=1304995947]The same non performing, incompetent PDP party? Seriously, even if PDP originated in your region, is that sth to be proud abi?[/quote]+1. Then they shouldn't complain if the PDP is screwing them over. After all, it is a SE party, roflmao

Obiagu1:
GEJ tenure might end in 2015 and what happens next?
So what? I guess I'm not following where this is going.

Obiagu1:
PDP marginalised us because of OBJ! Get it?

I wish he just drop dead.
How is OBJ strong enough to marginalize you after joining your own party huh LMAO. Perhaps it isn't your party to begin with, eh?
Politics › Re: Speakership: Northern Caucus Backs South West • Mounts Pressure On Jonathan by ektbear: 3:50am On May 10, 2011
SS would abandon PDP, despite the president being from there? Why? Because the SE abandoned it?  undecided

Are they fools?

Anyway, let's say SS and SE abandon it both. GEJ remains in PDP, but his support base has left him. Then the PDP becomes an almost entirely northern party.

How does that kill or punish the PDP?
Politics › Re: Speakership: Northern Caucus Backs South West • Mounts Pressure On Jonathan by ektbear: 3:40am On May 10, 2011
Obiagu1:
We are just fighting for what is right. You can't give the leadership of a house to a minority with only 6 members whereas of the majority and a strong base of the party, the SE, is neglected.
There is no real rightness/wrongness associated with this stuff. . . just politics and horsetrading. SE doesn't have any real moral claim to the speaker position.

If SE PDP members decamp to APGA, then the end of PDP is near.
How so? Still a majority in the house and senate even w/o the SE zone, no?
Politics › Re: Alaafin Of Oyo To Ooni Of Ife: Mind Your Own Business by ektbear: 3:39am On May 10, 2011
There was a female Ooni?

21ST LUWOO (FEMALE)
Interesting!
Politics › Re: If Jonathan Overlooks The Igbos, He And Pdp Are Finished In The Se And Ss by ektbear: 3:35am On May 10, 2011
Obiagu1:
We didn't make any mistake. Our biggest problem is OBJ, he hates us and he is too powerful; I won't deny that.
Minus OBJ, this debate won't even be going on because no sensible PDP man will think of zoning the Speaker position to the SW with only 6 members whereas their base, SE, is left behind.
Hehe. I don't understand how the guy is so powerful. He is hated in the SW, disliked in the North, and probably not liked much in the SE or SS. Why is he so influential?

Very interesting stuff to me.
Politics › Re: Speakership: Northern Caucus Backs South West • Mounts Pressure On Jonathan by ektbear: 3:32am On May 10, 2011
zstranger:
You also have to realize that all this crap by the SE is just for one purpose, to alienate the SW

Thats the point

Dora let the cat out the other day when he said that if elected, she would fight to keep the SW out of the senate presidency
Indeed. That is pretty clearly the SE strategy. But we seem to be at least 3-4 steps ahead of them, fortunately.

The North and the SW have always worked together, we actually get along with the North than with any other group in Nigeria
Untrue. Before the first coup, it was North and East against West. Neither of them are our friends. . . both are our enemies, truth be told.
Politics › Re: If Jonathan Overlooks The Igbos, He And Pdp Are Finished In The Se And Ss by ektbear: 3:21am On May 10, 2011
You essentially made the same mistake the SW did in 2003.

You can support GEJ for president and get concessions w/o being in the PDP.

Look how Mimiko did it, for example. Did he jump in with ACN or PDP? No. He is forging his own path. Retaining this LP party locally in Ondo State, but allying with GEJ to gain concessions for his party and state.

He maintains his distance from both the ACN and PDP, but works with both as needed.

Is the only way to support GEJ to be in the PDP and have to contend with all the forces there?
Politics › Re: If Jonathan Overlooks The Igbos, He And Pdp Are Finished In The Se And Ss by ektbear: 3:15am On May 10, 2011
Justcash:
Believe me, it will be a nasty decision for GEJ to neglect Igbos. I truly don't want him to favor Igbos in ministerial appointments because I believe that professionals should handle those positions irrespective of ethnic or religious affiliation. Those ones are too delicate to be politicized. Even the Secretary to the government shouldn't be politicized. I believe that the only way he can favor any group is to influence position in the House of assemblies.
It isn't as if he wants to neglect Igbos, imo. But the problem is, there are so many other mouths to feed in the PDP. How do you force him to focus on your zone over the other zones and forces in the PDP?

You see the issue, I hope? NE is playing this aggrieved card, NC plays continuity card, OBJ has played this continuity, "give PDP SW something" card. NW has their own wahala, then he likely cut some side deals with the ACN too.

There are just too many factions in the PDP, many with a much stronger voice than ya'll.
Politics › Re: If Jonathan Overlooks The Igbos, He And Pdp Are Finished In The Se And Ss by ektbear: 3:05am On May 10, 2011
It is all about leverage. Some gave away their leverage for free (or at least, w/o any way to ensure delivery of whatever was promised before the elections.)

Nobody should be surprised by the end result.
Sports › Re: NBA Season 2010/11 by ektbear: 2:56am On May 10, 2011
bye bye Boston grin
Politics › Re: ACN About To Collapse by ektbear: 1:31am On May 10, 2011
I dey laff

maybe you should face the OBJ/GEJ who is tormenting you instead of shedding tears about the ACN
Politics › Re: Is The Fg Really Serious About Improving Power Supply? by ektbear: 12:40am On May 10, 2011
I'm a little concerned by this Transmission Company of Nigeria. Already, it is appearing to be the weakest link.

I'm starting to think that it should be privatized too, lest it slow down progress elsewhere.

Also, how will Nigerians react if/when the price of electricity is revised upwards by 4X? It is a necessary step, but they might respond poorly.
Politics › Re: Is The Fg Really Serious About Improving Power Supply? by ektbear: 12:37am On May 10, 2011
The Nation: New  electricity tariff coming next month

New  electricity tariff coming next month
================================================================================
John Ofikhenua, Abuja on 09/05/2011 00:05:00

•’TCN is thwarting NERC’s effort’

The Nigerian Electricity Regulatory Commission (NERC) would next month announce
the much-awaited review of electricity tariff that will be a major factor for
investors to stake their funds in the industry.
 According to the commission’s Chairman, Dr. Sam Amadi, who disclosed 
this in Abuja at the weekend, this will be arrived at after all the parameters
associated with generation, transmission and distribution of the commodity,
along with a reasonable margin, have been worked out.
He said without a cost-reflective tariff, there would be no investor willing to
put his money in the sector.

Besides, a Commissioner in the agency, Ekpo Eyo, noted that a cost-reflective
tariff is necessary, because  $10 billion (about N1.4 trillion) would be
required annually just to sustain the current level of between 3,500 mega watts
and 3,800 mega watts.
But Amadi lamented  that while desperate efforts are on to try to get the
cost-reflective tariff, the Managing Director of Transmission Company of
Nigeria (TCN) had not been forthcoming with details required from his end to
compute the accurate cost of making electricity available to consumers.

The NERC boss said he had written several letters to the TCN, the latest of
which was sent last Friday, to reveal how much it would take them to transmit
electricity efficiently, but had not received any response. He appealed to the
organisation to co-operate to make the job of NERC in finding the right price
for electricity less stressful.
Even if the country generates 10,000MW of electricity today, said Amadi, much
of it would lie idle as there is not enough transmission capacity to evacuate it
due to inefficient lines.

He added that 44 per cent of revenue was lost in the industry through the
lines, fraud, poor metering, among others.
The NERC chief also stated that the new companies seeking to acquire the six
electricity generation companies and 11 distribution companies would have to
disclose their full costs of providing power to enable the regulatory body to
come up with a new tariff that would make for abundance of electric power.
Noting that new pre-paid meters could not be provided for everybody in the next
one year even if the fund was available, he said N2.99 billion had been given to
the 11 distribution companies to provide meters.
He said the incoming investors would take care of meters when they come on
stream.
Although the appropriate tariff is not yet known, former Director-General of
Bureau of Public Enterprise (BPE) and former Minister of the Federal Capital
Territory, Mallam Nasir El-Rufai, said last month that for the country to
attract investors into the power sector, electricity tariffs need to go up by
between 300 and 400 per cent

NERC, however, appears to be in a dilemma about public reaction to the
anticipated increase in tariff because, according to Eyo, it was expected that
by now, the amount of electricity generated would be thrice as much as it is
now. The agency acknowledges that should there be sufficient or appreciable
increase in supply, a raise in tariff would not be seriously resisted by
Nigerians
http://www.thenationonlineng.net/2011/index.php/business/5473-new-electricity-tariff-coming-next-month.html
Politics › Re: Aregbesola Signs MOU With London Borough. by ektbear: 12:02am On May 10, 2011
Lagosboy:
Lets hope they realise this and work out things properly. Aregbesola seems to be a good person with a genuine intention to serve the people well, however good intentions is never enough to deliver good governance. Proper Prior´Planning with good diligent implementation of clear positive policies is what delievers good governance.
I don't understand why he cannot appoint temporary commissioners. As you allude to, part of being a good leader is having the right team to help you turn abstract objectives into a specific plan/agenda. I listened to his interview on SR and wasn't really that happy with his justification for the delays.
Politics › Re: Chimamanda Adichie: The Danger Of A Single Story by ektbear: 11:50pm On May 09, 2011
I see no frontals on this woman
Politics › Re: Plans Revealed On How North And South Plan To Punish South Western Rascals. by ektbear: 11:48pm On May 09, 2011
The best laid schemes of mice and men
Go often askew,
And leave us nothing but grief and pain,
For promised joy!
Politics › Re: 15-year-old Naija Girl Is Harvard/ivy-bound by ektbear: 10:15pm On May 09, 2011
sandokaa:
Somebody just told me the girl is from Bauchi. So, why are the Yorubas rushing to claim her? This one na educated almajiri living in USA! Thank God, she doesn't belong to CPC!
Which Bauchi can she be from? Did you not hear her mother speak? Yoruba-accented English.
Politics › Re: Is This True About Abuja? by ektbear: 10:11pm On May 09, 2011
I wonder if we just need more business training in Nigeria or something.

There is no where in the US where Igbos are dominant. . . they are largely like everyone else here.

So it isn't so much that Igbos are amazing so much as, if what X-Factoria is saying is true, the competition in Nigeria is lacking.

I dunno. Anyway, competition is good. Don't give up. Learn from what they are doing and feed them their own medicine.
Politics › Re: Lagos Earmarks N102 Bn To Build Lekki Int’l Airport by ektbear: 11:25am On May 09, 2011
@lawyer: Interesting post. So you think a May 2012 date (one year from now) of starting construction on the airport is too ambitious? If that is the case, fine. . . so be it. Perhaps it'll be pushed back. But sooner or later, if they plan on making this FTZ a reality, they'll need to build an airport.
Politics › Re: Lagos Earmarks N102 Bn To Build Lekki Int’l Airport by ektbear: 10:50am On May 09, 2011
lawyer:
That simply is not true. This is all politician's talk and not realistic in anyway. How long does it take to build an airport in rainy season in Nigeria? 8months? Simple toll gate road is taking them 2 years plus to move from Lekki 1 to Chevron and they have over shot their budget 10 times. Fashola should stick to repairing the pot holes that are awash in lagos and ameliorate the groans coming out of lagosians in respect of his tax structure,
You misread. That is when construction is expected to start.
Politics › Re: Lagos Earmarks N102 Bn To Build Lekki Int’l Airport by ektbear: 10:45am On May 09, 2011
liquid7:
gas prices are determined by the international market .its same price as in russia .http://www.enerdata.net/enerdatauk/knowledge/eshop/energy-price-forecast.php?country=russia.same price as you can see.
Sure, there is a market. But that there is a commodities board for corn doesn't mean you cannot buy it more cheaply in Illinois or Iowa than say in Nigeria, where no corn is being grown.

There are advantages to living right next to the Niger Delta.

Not to mention FG subsidies/price controls (e.g., on petrol/kerosene/diesel in Nigeria.)

Long story short, gas is cheap.

But even at that no company there will buy gas for power unless it is needed for part of their production since the grid is far cheaper.I know this because an irish friend has started a medium sized factory there and got 2 years free electricity as incentive.
How much is he paying per MW for his electricity? What about labor costs in Ireland vs Nigeria? Etc, etc?

Anyway, whatever. . . whether anyone likes it or not, investment will continue in Lagos specifically and Nigeria more generally. And this Lekki airport and FTZ will happen.
Politics › Re: Is This True About Abuja? by ektbear: 9:49am On May 09, 2011
^-- No one else had a contact in government to help influence the sales?

It is a bit dirty, but then two should be able to play at that game.

Certainly no one should expect them to be kind to competition.

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