₦airaland Forum

@EzeUche: That remains to be determined, heh. I still want to get a # for how large the gas reserves in the SW are. And I'd also like to understand how much money the federal government makes from the Lagos ports, as well as Murtala Mohammed Airport. . .

Though in the worst case scenario, you'll benefit from being neighbors, at least. Canada derives a lot of benefit from being next to the US.

@step1: Thanks for the information. Much appreciated.

You are right, God has blessed Yorubaland heavily.

[quote author=Kilode?! link=topic=631461.msg7985681#msg7985681 date=1301072617]Yea very interesting. We need to resist any further creation of SW states though, dunno why Ekiti left that state [/quote]A pretty moronic move, in retrospect. Oh well. Ekiti shall survive and prosper. Fayemi is making some mistakes here and there, but is overall doing well (in my opinion.)

Anyway,  Odu'a stick together. There is hope for Nigeria. SW , SE , SS, NO if we can get the politics right.

Well said.

Anyway, let no man ever say again that Yorubaland is mooching from the rest of Nigeria (the SS in particular).

Honestly, from all the silly propoganda I read on this site, I thought the oil reserves in Ondo were like 1% of Nigeria's total. . . not a whole 10%!

And that is oil alone, not to talk of natural gas.

Any of ya'll who want fiscal federalism. . . absolutely fine by me

@Kilode?!: Thanks for the link, that was informative. Still trying to track down the gas reserves though.

Hrm:
https://i53.tinypic.com/2qi4akp.png

Nigeria's oil reserves are 36.2 billion barrels, according to Wikipedia. Looks like the reserves in Ilaje and Ese-Odo are nearly 10% of that? And it produces 250k+ barrels of oil a day right now. ,  street value of $25 million/day.

In my opinion:
1) Oil reserves of 4 billion barrels+
2) Bitumen reserves of 42 billion+, entirely unexploited (not as profitable as oil, but still some money there)
3) Whatever gas exists, probably something enormous
4) Best port city in all of West Africa
5) Largest city in in Sub-saharan Africa
6) Diaspora with money and technical know-how
7) Lots of farmland

This sounds like all the ingredients necessary for a very strong economy. I cannot think of anything missing. Large gas reserves + excellent port => competitive advantage in manufacturing and export.

Very interesting stuff.

Hrm. Can someone who knows the oil and gas business provide estimates of how much of Nigeria's reserves are located in each region? SW, SS, and SE?

^-- I'm glad to be wrong in this case.

Hrm, now trying to find out how much gas is there. . .

EDIT: Seems like a lot, from your above links. Hopefully this means that powering the SW won't require any gas from the Niger Delta.

andrewnwa:
This really shows that ohakim has done alot for imo state in all sectors, (ochinawata carry go!!!!)

Hehe. I cannot wait to see Eziachi's response to this

SW likely has NG off the coast of Lagos, but I don't think we have that much onshore. . . ?

I thought most of it is in the ND.

I think it does. Or at least my perception of it.

Strange things like a very hot girl you are dating, with time she just becomes ordinary to you. Like, you get used to it, I guess?

Or similarly, a girl you don't find very attractive, but somehow your personalities connect a lot leading to attraction.

Or even simple things like someone looking bad when stressed, good when relaxed.

So yeah, it fluctuates.

Abang-Wushishi, who a source at the ICPC described as an ‘inept, physically and mentally tired woman who resumes work around 2 PM in the afternoon,’ is expected to be to AGF Adokie what Farida Waziri of the EFCC was to the disgraced former AGF, Michael Aondoakaa, “a tool to protect the fraudster-friends of the president and the AGF,” as a source puts it.

Eh. . . this doesn't sound good.

El Rufai on electricity:

"El-Rufai: Electricity Tariff Needs to Go Up 400%" => http://www.thisdaylive.com/articles/el-rufai-electricity-tariff-needs-to-go-up-400-/88421/

"Country Needs Billions for Electricity - El-Rufai" => http://allafrica.com/stories/201103250767.html

Key quote from latter article:

He also chided Nigerian elites whom he said would be willing to pay N60 per KWH for diesel powered generator in their homes, but would resist a cost reflective tariff rise which would in the long run save everyone more than N30 per KWH.

Quite in line with the estimates I posted above (I estimated 35 cents for gasoline gen, he estimates 40 cents for diesel gen)

He knows what needs to be done. Do other Nigerian leaders? Does GEJ?

Nigerian jingoism is a funny, strange, and sad thing.

Rather than learning from others, we become defensive

Anyway, kudos to Japan.

Very important. If she is out of shape now, what is she going to look like if married and after 5 or 6 kids?

Will probably balloon to 200 pounds.

I'm only interested in women who take care of their bodies

Dis Guy:
in perspective

Manchester to London = 263Kilometres = c.2hrs 30 minutes
Ilorin- Lagos= c.260 Kilometers = 10hours+

2011

anyone know what the price will be eventually?

Lol. Such an epic fail, Nigeria is

She is only light skinned. Not really that attractive imo.

Haha, Dbanj is hanging out with some pretty cool people.

Snoop, Birdman. . . what is next?

Doesn't appear as if you'll get an answer, Sagamite.

But that in itself answers several questions about Beaf.

This thread. . . epic!!!

I still don't get the chick allowing her mom to sell her off like a cow or chicken. . . seems strange to me.

timbuk two:
^^

John Campbell knows more about this country than you ever will.

Preach. He knows more than most of us.

I don't understand why we are lauding the words of a guy who works for Goodluck. In the very first paragraph, he discloses this.

Joe Trippi is kind of a big gun though; GEJ I guess is very serious about winning since he hired him.

@jensinmi: Previous attempt didn't seem to sway you. Let me sketch it out, see if you are convinced.

We'll use Ekiti State again as an example. Let's pretend Ekiti estimates that it 1000 MW will satisfy its electricity needs in 2 years time.

Consider a household in Ekiti. This household gets 6 hrs a day of electricity from PHCN. For the remaining 18 hours, the household must use generator, or nothing at all.

Let's say that the household consumes 18 hours of electricity a day. Thus, 33% of its electricity needs come from PHCN, the other 67% from a petrol generator.

PHCN charges $0.04 per kWh. At current prices, generating electricity from a petrol generator is roughly $0.35+ per kWh (I can justify this estimate if you'd like using current fuel prices.)

So on average, this household pays 24.67 cents per kWh for electricity.

Therefore, this household would gladly pay even a flat rate of $0.20 per kWh for electricity. This reduces their overall expenditure on energy
by approximately 19%.

Now, how does this price of $0.20 per kWh compare to other places in the world? Let's compare and constrast with some US states.

You can take a look at the average amount people paid in each state in the US here: http://www.eia.doe.gov/electricity/

You have a low of 5.61 cents per kWh in West Virginia (a state with enormous amounts of coal), up to a high of of 29.20 in Hawaii (basically
an island in the middle of the pacific which has much higher costs for everything.)

The average price in the US is 9.74 cents per kWh.

Note that this $0.20 per kWh which we are proposing for Ekiti State, would be the second highest on this list, therefore suggesting
huge room for profit for anyone who can generate electricity and charge this much. However, even this $0.20 per kWh figure represents a HUGE
financial savings for the state and its citizens.

So to assess how much interest a potential investor would have, we need to figure out how much it costs to generate each kWh.

You can estimate this from scratch. . . but fortunately, there is a lot of material already available which estimates these costs. Consider Table #1 here: http://en.wikipedia.org/wiki/Cost_of_electricity_by_source

We get a cost of 6.61 cents per kWh over the lifetime of the plant (what they call a combined cycle gas plant.)

Even if we somehow assume costs are 50% higher in Nigeria somehow (so ~10 cents per kWh), the power company will be making money hand over fist, grossing 10 cents per kWh.

So unless my #s are way off, I don't see how:
A) Power generation, if liberalized will not attract enormous interest from investos
B) The problem cannot be solved in a much shorter period of time than this 10 year scale. Imo, this should be a two year project, at least if localized on a state/regional basis.

Now, am I way off in my analysis? If so, where? Doouble the initial cost of building the plant and the foreign investor STILL makes an enormous
amount of cash. And the Ekiti citizen saves a lot of money, too.

Seems like a win-win to me.

[quote="lionness"]Its all buying and selling. Its never been this catastrophic! Anyways sha, they visiting every organization out there. I think beaf can tell GEJ about these extras:
NUS : Nigerian Union of Shoemakers
NPL: National love-peddlers League
FOYB: Federal Organization of Yahoo Boys
NSof419: National Society of 419ers
AOBDN: Association of Bomb Detonators of Nigeria
NDBBG: Niger Delta Bad Boys Group

If gej writes me a check for $1 I will email him those guys list,[/quote]Lmao

[quote="Kobojunkie"]But here these same are, STEALING THE glory from a dead man, so they can GLORIFY the same man for which they had ready made excuses for, before now. Sad really!![/quote]Lol, when you put it like that. . . is stealing from the dead taboo?  

I'd still prefer to see a debate. If they'll expo GEJ, then let's let everyone see the questions beforehand.

Kind of a mediocre debate, but better than nothing.

So all parties agreed to a debate on the 18th?

Why didn't GEJ show up, then?

He made them move from the 8th and 15th to the 18th. . . and stood them up  

The FG should hand over the Lagos-Ibadan expressway to the relevant state governments, and put them in charge of fixing it.

It really shouldn't take forever to solve this problem

@Eziachi: Don't you think it is better that those traditional institutions have lost their power, though? They are very undemocratic, and imo should have little or no influence on politics  Times have changed; it is only right that an elected official has more power/influence than an unelected ruler, in my opinion.

Custodian of culture of the people, things like that, fine. Political figure? Not fine.

Cork is a hilarious dude. . . never laughed so hard off of something on nairaland before 

doja:
^^^^

Dont worry He will soon be available for the whole country

Well said.