₦airaland Forum

Beaf:
Can you ("in your way of thinking") provide a link to anything at all in the article that says govt is going to purchase the vehicles at a special price?
Why do you people like making stuff up?

Beaf. Use your brain. God gave it to you for a reason. I'm not going to bail you out on this one. Think through things a bit. It isn't a hard puzzle to figure out. As a hint (that gives away the answer), think about the implications of Y being equal to zero in my example.

It might seem bad that the FG will raise prices, but it is a pretty important and necessary step if we want to fix electricity.

Read the stuff in bold if you are not convinced.

The Nigerian Electricity Regulatory Commission will publish the new electricity tariff structure in May, a month behind the April schedule for the publication.


The Chairman, NERC, Mr. Sam Amadi, told our correspondent in a telephone interview on Wednesday, that the commission was compiling information on the new tariff structure and would hold a public hearing on it before it would be published in May.


“We shall publish it after the elections, in May,” Amadi said. He, however, said that though the new tariff would be published in May, it would not take effect until July.


Top power industry officials have suggested that the new tariff to be announced in May may be between N21 and N23 per kilowatt hour, from an average of about N8.50 per kWh.


The Chairman, Communications Committee, Presidential Task Force on Power, Dr. Abimbola Agboluaje, had said recently that independent studies had shown that in real terms, the poorest Nigerians were currently paying more than N80/kWh burning candles, kerosene and firewood.


But Amadi refused to be drawn into the argument of whether or not the tariff would go up or down, saying that Nigerians should rather wait for the publication of the new tariff.


However, analysts in the power industry said that the tariff would definitely go up when the new regime takes full effect in July.


The low tariff has been highlighted as one of the reasons the private sector has not been very active in the sector since the promulgation of the Electric Power Sector Reform Act in 2005.


Introducing a cost-reflective tariff is one of the key issues that analysts believe will attract investors to the power sector under the government’s road map for power sector reform.


The Bureau of Public Enterprises received 331 applications on March 4, 2011, from investors expressing interest to bid for firms slated for privatisation in the power sector.


According to the BPE, 174 applications were received from prospective investors/concessionaires interested in acquiring the four thermal stations and the two hydro stations.


It also added, “One hundred and fifty-seven applications were harvested from prospective investors interested in acquiring the distribution companies.”


The BPE, had between December 13 and 20, 2010, published adverts in local and foreign media inviting prospective core investors to express interest in the 11 distribution companies unbundled from the Power Holding Company of Nigeria.


The BPE had also invited prospective core investors to express interest in the four thermal power stations and concessionaires for the two hydro power stations. The initial deadline for the receipt of Expressions of Interest was Friday, February 18, 2011.


But following representations by prospective investors, who attended the five-city Electric Power Investors’ Forum, which was to court world class investors to participate in the privatisation of the successor companies, the Federal Government approved the extension of the deadline for the submission of EOIs to Friday, March 4, 2011.


http://www.punchng.com/Articl.aspx?theartic=Art20110331032832

PapaBrowne:
[b]1)[/b]It is a known fact that oil production has risen from about 1 million barrels at the peak of the Niger Delta crises in mid 2009, to about 2.5 million in 2011. We didn't enjoy the previous oil boom that saw oil prices peak at $149 because our production was low. 1 million extra barrels at $80 per barrel is $80 million  extra daily. That by any count is enough to swell an economy.  I really don't have to provide statistics to prove this. The knowledge is everywhere. Since Jonathan took over, there has been little or no disruptions in oil production and the credit goes to his short term strategy of pacification!!

That doesn't say anything about how the non-oil sector vs private sector grew over that time period. Or the relative growth rates of each over time. So doesn't make sense to attribute the economic growth to oil. Look at Table 1.1 on page 12 of this, for example:

http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/06/15/000333038_20100615002652/Rendered/PDF/550230PUB0Nige10Box349432B01PUBLIC1.pdf

Negative growth in oil GDP, positive growth in non-oil, overall positive gdp growth.

So your assertion that most of the growth was due to oil needs to be supported by evidence.

[b]2)[/b]Ribadu and more likely Shekarau might adopt GEJ's power plans, but not Buhari. He already stated that in his debate. Buhari's approach is not in favour of privatization!! And truth is, that would not work!!

I don't recollect him saying he was against privatization. Are you sure about this?

[b]3)[/b]Buhari is a socialist/ welfarist and he surely would be glad to tell you that. I don't think it is bad to be one. The only problem is that in a country of over 150 million with only a little money coming from oil, welfarism/socialism would not cut it. Haven't you heard him say he wants to bring back the glory days of a Nigerian Airways and Nigerian shipping lines?? Is it not better we have more Ariks, Aeros, Danas and the private sector likes rather than have another Government behemoth like Nigerian Airways sucking the nation dry The private sector would grow the economy, not the FG.

I haven't heard this. Again, are you sure that this was said 

As per GEJ's universities, there is nothing welfarist about that. Asides, I heard him speak about private sector involvement in building hostels during yesterdays address !

More government bloat in 9 new federal universities sounds socialist to me. I'd much rather hear about 9 new universities being founded by the private sector than the gov't.

4) Not cool!!

My bad, was a bit harsh. I apologize.

Thanks for the insight, danjohn. I like your Iowa analogy too. . . I think it is pretty apt.

April 2nd elections might be another Iowa too.

That pic is hilarious

PapaBrowne:
I agree with you totally!! And if you notice, I did not directly credit the growth strictly to Jonathan!! The major factor responsible for the growth is the quality of the oil price alongside the stability in the Niger Delta. Jonathan's candidacy is largely responsible for that stability. If we change Government, the possibility for stability in Niger Delta is almost certain to be nil.

What data do you have to justify this assertion?

Another factor is power!! Without power, we are growing at 8.29%! Just imagine the implications of stable power supply on our economy. Now Jonathan has by far the best power roadmap. The other candidates don't seem to understand the problems in the power sector.

Good power plans can be used by others. That GEJ's task force has come up with a good plan doesn't mean another candidate cannot borrow heavily from it.

My biggest worry with a Buhari government is that he will in his welfarist/socialist ignorance innocently destroy the potential for growth in our economy, first by instituting unneccesary bureaucracies in the name of fighting corruption and secondly by focusing all finances on welfarist institutions and ignoring key growth sectors of the economy!!!

You are calling Buhari the socialist/welfarist, when GEJ is the one starting several new universities, providing subsidies to automakers  When under GEJs watch, the fraction of the money spent by the gov't on recurrent expenditure is growing?

Honestly, you seem to be pulling sh1t out of your @ss. . .

Sky Blue:
Did you attempt some research yourself or did you just assume someone on nairaland would email the british government to obtain the figures for you?

It isn't my responsibility, ultimately. If you cite a #, it is your responsibility to provide a reference justifying it. . . not mine.

I should not be the one having to provide references for statements the British gov't makes.

Sky Blue:
? ? ?
IMF isn't the only source of information or sole reference point on financial matters you know? Perhaps it would have been a tad more reasonable to ask where the UK government got their figures from, no?

I asked this question before, got no answers.

IMF is not the final world, you are correct. But the linked article doesn't provide a source, so isn't of much value.

^-- go to 234next homepage.

http://234next.com/csp/cms/sites/Next/Home/5686632-146/police_re-arrest_freed_akwa_ibom_politician.csp

Doesn't appear to be true. I checked the IMF website for the 2011 projection. We aren't even 4th in Africa.

Country	Y2011
Ghana	9.947
Liberia	9.502
Republic of Congo	8.74
Ethiopia	8.5
Mozambique	7.548
Nigeria	7.444
Angola	7.084
Democratic Republic of Congo	6.994

So 6th in Sub-Saharan Africa. Hopefully this link for the query still works: http://www.imf.org/external/pubs/ft/weo/2010/02/weodata/weorept.aspx?sy=2008&ey=2015&scsm=1&ssd=1&sort=country&ds=.&br=1&pr1.x=25&pr1.y=10&c=614%2C666%2C638%2C668%2C616%2C674%2C748%2C676%2C618%2C678%2C622%2C684%2C624%2C688%2C626%2C728%2C628%2C692%2C632%2C694%2C636%2C714%2C634%2C716%2C662%2C722%2C642%2C718%2C643%2C724%2C644%2C199%2C646%2C734%2C648%2C738%2C652%2C742%2C656%2C746%2C654%2C754%2C664%2C698&s=NGDP_RPCH&grp=0&a=

Otherwise you can run a fresh query yourself here: http://www.imf.org/external/pubs/ft/weo/2010/02/weodata/weoselgr.aspx

WTF is wrong with these PDP b.a.stards?

Smh at the above two posts. Nigeria truly is an embarrassment of a country. PDP should be ashamed of themselves.

Beaf:
Subsidies? You are very very confused sir.

There is no word about subsidies, rather its about govt purchasing vehicles from our local manufacturers to improve the bank balances, perception and custom of our local plants.

Buying something for $X+Y when it is worth (or costs from elsewhere) $X is a subsidy, to my way of thinking.

And Wikipedia's too, it appears (see "procurement subsidy" here: http://en.wikipedia.org/wiki/Subsidy)

^--- In a world where demand is independent of price, your theories might be true. Alas, on planet earth. . .

Might want to consider that business school training. . . might do you some good

Anyway, may the taxes continue to climb.

vicenzo:
For a yoruba guy,you didnt disappoint me,dumb as usual.Now get it into your thick skull if you can,apart from the few oil wells found in ilaje and apoi regions and a few more obj managed to steal from delta state,yorubaland is as dry as the north,awolowo knows this,he knows that without the east the future is bleak for the west,a condition he shares with the north,hence his reluctance to seccede.
   Come on,awo was tracherous and deceitful but he was also wise,he was a pragmatic ruler,if there is oil in the old west,awo would have secceded.

OK, I trust your judgement over that of the various other sources discussed here in this thread. You are no doubt correct; there is no oil in the west.

vicenzo:
There is nothing special about lagos,not that we are planing on leaving it for anybody.Lagos just happens to enjoy monopoly,we all know why calabar and ph ports are not working,and we know who is responsible for all the commercial activities that attract banks and companies to that city,we dont intend to desert the city,we only intend to use it as an annex to our buisness empire,using its port less and using the eastern ports more,you know turning it into another ibadan.

No problem. Just continue to pay heavy, heavy taxes that will continue to increase over time. The more trade and traffic there, the better.

I don't give a damn if you like my explanation or not. Your opinion of my people is irrelevant. . . if you want to blame us for erosion, cancer, leprosy, impotence amongst your men, barrenness of your women too, who cares.

However, one small piece of advice. . . which you can reject or accept as you wish:

"Measure twice, cut once."

Don't go to war unless you can win it by yourself. Don't go to war with only 200 guns. Don't rattle your sword saying, "no force in Black Africa" can defeat you, then lose 1/3rd of your territory within 2 months of fighting.

And. . . try not to get cut off from the sea next time:

This leads to the second importance of the Bonny capture.  It pinpoints the failure of Biafran leaders to appreciate the incredible consequence of losing their sea lines of communications.  They did not see the need to secure adequate sea power before the war began and were unable to correct their shortcoming when it became apparent how serious the Federals were about enforcing their blockade of the Biafran coastline.  The New York Times noted at this stage of
the war that Biafra had a "better-than-even chance of survival" , but that it was,  "clear, that the East cannot survive for many months unless the naval blockade is broken."(10)  Instead of confronting this problem, however the Biafrans turned inward.

http://www.globalsecurity.org/military/library/report/1984/SMR.htm

Unless you want to blame the incompetence of your leaders also on Yorubaland?  

^-- Which city in Nigeria will compare to Eko Atlantic, when that is finished? 

Will have to compare to Manhattan 

I'll be working hard over the next few years to earn enough money to buy property there

vicenzo:
Gosh! Where is this guy from? Just when i thought that my only problem is how to convince the north of some phantom oil fields in chad basin,now i have to look for another phantom oil story to sell to the west,chai breaking nigeria no be small thing.

Reading comprehension isn't your strong point, I guess.

EzeUche:
Lagos is a over-glorified slum. People hype that city too much.

Lagos. . . Lagos. . . Lagos. . . Blah blah blah

Anybody who likes Lagos should get their head examined.

Give me Enugu or Calabar over Lagos any day.

A fair point. But other great cities too were considered slums in the 80s (NYC, DC), but have since been gentrified and redeemed. 12 more years of Fashola caliber leadership should bring about the same in Lagos.

^-- If you say so. I've studied this ports issue a bit. You evidently have not.

Anyway, we can agree to disagree. . . no wahala

$400 mil for two lanes of 61 km is not an exorbitant price.

@Maple: I don't disagree with you. As I said, "it wouldn't come to that."

[quote author=Ileke-IdI link=topic=635192.msg8021738#msg8021738 date=1301538526]Ahh o ma seun o! Lol I'm too precious to be turned into beef meat (ask my mama) [/quote]

vicenzo:
Lagos port will not yield much revenue to a yoruba nation,it is important today because of nigeria's policy to economically strangulate the east after the civil war,easterners control the buisness and trading activities of Nigeria,with the fall of nigeria the east will resucitate calabar and port harcour ports, leaving lagos port lifeless.

1) This is a case of the tail thinking it is wagging the dog. Leave and others will take your place. No big deal, really.
2) Hausa man will need to eat too. And export, if he one day starts producing stuff. Same for the middle belt. And I have every intention for us to be an exporting, manufacturing nation. . . to the point where we are required to build an additional port in Ondo to rival that of Lagos.
3) Furthermore, I'd suggest that you study the shoreline of Nigeria a bit, investigate how much it will cost to dredge the Niger river enough to compete economically with a deep seaport like Lagos. If it were me, I'd choose to build around a seaport, rather than two cities by inland rivers.

Actually, looks like I'm wrong about the bitumen:

http://www.mmsd.gov.ng/Downloads/Tarsand%20&%20Bitumen.pdf

Actually seems comparable to Canada's tar sands: http://i55.tinypic.com/2hibipe.png

Though this might be excessive optimism by the Nigerian govt.

According to Wikipedia, Canada pays $28 per barrel to extract. $4 bucks for North African oil: http://goldnews.bullionvault.com/oil_gold_100_barrel_inflation_110920072

So a lot less profitable. Still, a good resource to have.

Very damaging on the environment though.

@OP: I don't think the Bitumen in Yorubaland and Edo State is the type you can profitably convert to oil (unlike that in Canada.) So you shouldn't really view it as 40 billion barrels of oil. It is worth a lot less.

However, still a nice asset to have.