FACE's Posts
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lawani:FG actually makes less than $12 billion per annum (check online for budget performance reports), so $400 million is a significant amount for a state. True, Imo shouldn't fold hands and rely on money from derivation. They need to find a way to block leakage in revenue collection. I read about the sudden broadening of tax collection in Enugu, which explains the sudden jump in their revenue. Imo state can easily use the same method to suddenly increase their own internally generated revenue, but that might place a burden on the poor and also scare potential investors if the aggressive tax collection is extended to businesses. Yes, all states with lower GDP than Imo can generate more revenue than Imo, likewise, Imo can also generate more revenue than all states with higher GDP if they tried. |
lawani:The oil production economics have already been added to the GDP of oil producing states and rightly so. That is why Ondo has a higher GDP than Ogun and even Kano with all the population. Even if 90% went to JV partners and FG, the amount that Imo receives can easily top N500 billion per annum. You are forgetting about the jobs created by this operation, the allied industries already on the way and the servicing jobs that will be created. This is not something that will happen in the future, it is already happening. |
lawani:Why do you think that oil producing states are at the top of GDP ranking by state? Why do you think that Ondo is above Ogun when it comes to GDP? Oil production is part of economic activities so it will be absurd to exclude the sector when calculating GDP. |
lawani:You still don't understand the concept of GDP, you are referring to revenue and not GDP. It may well be that Imo gets nothing from the gas operations, but it doesn't mean that the gas operation contributes nothing to the GDP. The akara road seller's economic activity is part of a GDP, but does the government really get anything from the seller? An industry's contribution to the GDP can be estimated by using the gross value added (GVA), i.e value of goods produced minus cost of producing them. The scale of ANOH operation has significant impact on Imo GDP gas. Now talking about production and revenue, ANOH is the top gas producer in Nigeria and the others don't come anywhere close. They only started operations in June and by the time FG starts paying Imo their 13% derivation, don't be shocked if Imo walks off with 300-500 billion naira per annum from this operation. No oil producing state is receiving that amount at the moment. Please see link about the gas production below. https://globexpath.com/imo-state-just-lit-a-fire-the-gas-plant-changing-everything/ |
lawani:First, you don't understand the meaning of GDP. It's simply the sum total of economic activity in an economy and has nothing to do with who gets what share from profits. You underestimate the scale of ANOH gas operations. It's a new operation and also a game changer for Imo state and you will find out the impact when they start receiving their 13% derivation. Apart from the operation, other economic activities are also tied to the project. Now back to your question about how much money: ANOH produces about 850 million SCF daily. At about $0.026 per SCF of gas, there is about $20.5 million worth of gas pumped out daily from ANOH facility. This is about $7.5 billion of productivity per annum. To put that into perspective, even if FG received only 10% of that amount, Imo state will receive a minimum of N150 billion, as 13% derivation from that amount. Before you start saying that it is not all profit, cost of production, etc., The cost of production is part of that economic activity. An economic activity means that someone is receiving money and the other is receiving goods and services. |
Ojiofor:If you leave your house in Umuahia and arrive at the airport in 20 minutes, how about those in Uturu , Isuochi , Aba etc? The airport is a useless venture and shows that Oti is just another clueless politician. Very few people live less than 30 minutes from an airport and it's perfectly reasonable to expect to travel about an hour to get to an airport. Abia is surrounded by 4 of the most vibrant airports in Nigeria and no part of Abia state is more than one and half hours away from an airport. Some parts of Lagos, PH, Abuja are a good 2-3 hours from the airport. On good roads, no part of Abia is more than one hour away from an airport so why does Oti think that an airport is a priority? |
MindHacker9009:Well done. Most times, it's best to go directly to the lenders as the rate they offer is available to the public, especially in noncommercial mortgages. The only need for a broker arises when it's a bit complicated. Some brokers can liaise with mortgage underwriters to resolve any ambiguities, whereas the same underwriters might say a flat no if there are ambiguities to resolve when you apply directly, because the decisions are more or less made by a computer algorithm. Good luck with your house buy. |
Be civil. You don't have enough income to obtain the amount of mortgage that you needed, otherwise he would not have any need to bump up your income. I concede that he is fraudulen, but your low income forced his fraudulent hands . |
The amount of mortgage you can get is a multiple of your total income. The affordability is then calculated by matching your income against your total liabilities and this is what really determines how much you can get. Once you have completed the purchase, it's now a business between you and your lender. Nothing to do with the broker anymore. The broker bumped up his income in order to enable him secure more mortgage, but it's wrong. It would give a false affordability assessment and the borrower might struggle to keep up with the monthly payments. He felt the need to bump up his pay because he would not be able to get enough mortgage with his income to be able to finance the purchase of that particular property he was after. |
richmond500:Abeg go and read up GDP. What you just described is your gross worth. Take away liabilities and you will have your net worth. Yes, you can have a high GDP and low IGR, which is simply tax and royalties. The size of IGR will depend on how much of the GDP is captured and taxed. The private or informal sector will hide as much money as possible from the tax man. |
helinues:Economagics... Why do you guys engage in topics you don't understand? How can you say a declining economy will continue to maintain high GDP? What is recession then and how does it affect the GDP? |
richmond500:You don't know what you are talking about. Your GDP is not your net worth, but the sum of economic activities going on in you country. The GDP influences net worth, which arises from the proceeds of the economic activities. For example, if you had a big redundant hotel, it might be worth about $2 billion, but it is not productive. Those selling groundnuts on the street are more productive but you have more assets. The only time that redundant hotel added to the gdp was when you were building it. The USA is worth about $225 trillion but the GDP is about $29 trillion. Your GDP helps you to create wealth, but your wealth is only useful to the GDP if it is productive. |
Expanding the data: NE: 105193 Sq miles x 183 = 19,250,319 poor people NC: 93600 sq miles x 226 = 21,253,600 poor people NE: 74551 sq miles x 528 = 39,362,928 poor people SS: 32659 sq miles x597 = 19,497,423 poor people SW: 30758 sq miles x 537 =16,517,046 poor people SE: 11399 sq miles x 970 = 11,057 030 poor people |
1stGenAmerican:The NHS does not cover the medical bills for UK visitors. Royalfree is just the name of a Trust/Hospital and doesn't provide free healthcare services to UK visitors; it just like expecting a free pass from Freetown. |
1stGenAmerican:You don't know what you are saying: "Across the UK, more than 1000 people each year donate organs while they are still alive to a relative, friend or someone they do not know. The most commonly donated organ by a living person is a kidney. A healthy person can lead a normal life with only one functioning kidney and so is able to donate the other to help someone in need of a kidney transplant. Part of a liver can also be transplanted from a living donor to help someone in need of a liver transplant. A successful transplant from a living donor is the best treatment option available for most people with kidney disease and they have a better chance of survival than those transplanted from someone who has died. For all forms of living donor transplants the risk to the donor must be considered very carefully. Before a living donor transplant can go ahead there are strict regulations to meet and a thorough process of assessment and discussion. All living donor transplants in the UK are regulated by the Human Tissue Authority (HTA)." https://www.nhsbt.nhs.uk/how-you-can-help/get-involved/key-messages-and-information/living-organ-donation-faq/ |
Oshodipikin:Calm down. I just agreed with your thinking. No ambiguity in my post. Check for the meaning of black ops/operations. |
Oshodipikin:Dem born you well. This is mediocre black ops style. |
ume1000:A knight cannot checkmate the King unaided, but it can put the king on check whilst targeting another piece. I will let the knight fall in battle in exchange for a rook or queen. The knight can be pinned to a standstill by an ordinary pawn. The queen is the most powerful piece on the board, followed by the rooks, then the knights and Bishops. Yes, a knight can target several pieces at the same time, just like the queen; the only difference is that a knight's attack is indirect and cannot be blocked if the piece on target is unable to move. |
B2mario:I purposely excluded the satellite areas to Aba, otherwise areas as far as Obehie and Owerrinta can easily qualify as Aba suburbs. The point is that the claim that Ibadan is more than 3000sqkm is almost assuming a life of it's own, whereas it is less than 600sqkm, including significant patches of green areas. |
mrvitalis:A lie repeated several times has a way of gaining a life of its own. Ibadan metropolis is about 580sqkm and only about 3 times the size of Aba metropolis in landmass. Aba is compact with a large number of high density buildings
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chrisxxx:I think that i understand where this confusion about the Igbo identity comes from. It's a misconception by Ikwerre people that all Igbo people from the hinterland have the same root and speak the same way. The Igbo you hear in Owerri, Enugu , Aba, etc. are all urban Igbo, which is a fusion of dialects and doesn't belong to anyone in particular, but it's usually formed around the indigenous dialect. The Igbo you hear anyone speaking usually changes as soon as he is speaking with the relatives or kindred. I have an Ikwerre friend who speaks urban Igbo and he told me that his Ikwerre was different from Igbo until I broke into my own dialect. The truth is that someone from Umuagwo in Imo is more likely to have a fluent conversation with an Ikwerre person from Elele than the Ikwerre person would have with his Ikwerre kin from Emuoha if all should stick to their original dialect. The hinterland Igbo you see in Port-Harcourt are likely to be speaking urban Igbo and that is why when you as a native of PH on hearing them speak would would think that they all speak in the same dialect from Imo to Ebonyi and from Abia to Anambra. This is probably why you don't understand why one variation (dialect) of your language keeps trying to subdue your own, but that is not true as Igbo is a conglomerate of dialects. A very long time ago, people identities were based on their clans, but one thing they all agreed on was that they spoke Igbo and if you read about the slave trade era, you would see people described as for example, "Ungua (ngwa) from the Eboe (Igbo) nation, Aboh from the Eboe nation etc. You call other Igbo groups Isoma, which is exactly what the typical Owerri person calls other Igbo groups and it's not out of disrespect. There are slight cultural variations across the board as well and you might be shocked to find out that you are more culturally linked with an Ngwa man than he is with an Enugu person due to proximity. Having said all those, the Ikwerre seem to be more comfortable being an ethnic group on it's own and I do respect that. |
Amah70:You are clearly paranoid and all your points are dustbin worthy. Owerri people, Owerri people; who are these Owerri people forcing everybody to locate everything in Owerri? Your useless points can be thrashed by half a moniker, let alone multiple monikers. I know you are a troll, who spent the whole of Christmas on Nairaland typing rubbish so this is my last response to you. I have been here since 2007 and have only managed less than 800 posts, so that should indicate to you the amount of time I have, let alone dedicating my time responding to trolls. |
BastardWike:Good points. The amount of venom coming from him is in no way geared towards pursuing government presence in Orlu. |
BastardWike:Stop feeding a troll. Trolling is a lifestyle that thrives on attention and trolls will always have the last word. They are not interested in any logic. Their arguments are upside down and self imploding so there is no point. Considering the number of Imo citizens seeking university admission each year, it is clear that Imo needs more high institutions, yet someone with their correct senses wants one of the existing universities to be shut down and relocated to another area, when the argument should be for more universities to be created closer to the people. The same person wants Okigwe to be happy with a University in another state because it's near to Okigwe. I just feel sorry for his successful neighbours. His mission is to sell the narrative that Owerri is the prostitution capital of the world and true Imo people know that it's a blatant lie. They did the same thing to Aba, using pictures of a few areas to paint the whole city. They succeeded because people engaged them. Ignore them and they soon fade away. |
Amah70:Why must someone lose something to another person, when the same thing can be replicated and given to the next person? I can't even see where your argument is coming from; not from costs nor from logistics point of view. Pushing Owerri as a prostitution zone is a narrative by your likes, same as the concerted attacks on Aba in Asia State. You claim that high institutions in Owerri are prostitution trading centres, I ask again; are you looking for Orlu to become the new centre for prostitution in Imo State or are your rhetorics simply driven by pure jealous rage? Achike and Rochas are from Orlu, so why are you going about acting that Owerri people are holding the governors to ransome? Imo state university was originally located at Uturu, but the new university in Owerri was established following the creation of Abia State during the military regime, so why are you crying Owerri Ugandan like they stole your yam? So Okigwe people should depend on Abia state because it is near? See sense. Orlu is close to Owerri and Awka as well, so what is good for Okigwe is also good for Orlu. Mbaise is in Owerri but Umuagwo is not in Orlu Zone? You have a school of midwifery in Orlu as well. Anybody that wants someone else to be deprived of what they already have instead of asking for their own is greedy and selfish. We say, mee mu ka emere ibem, not napu ibem ihe enyere ha, ka inye m ya |
Amah70:Biko, this whining is becoming redundant. How many tertiary institutions in Owerri are owned by the state government? Imo State University, which other one? This line of arguement is why Nigeria refused to invest in education, choosing the easier route of quota system, depriving other people in order to accommodate others instead of expanding the facilities to other areas. Why do you want the state government to relocate schools from Owerri to Orlu rather than arguing for a University to be brought closer home to your Orlu? Why should Owerri lose those institutions to Orlu in particular? Why not to Mbaise or Okigwe? By your own warped thinking, a University in Orlu would lead to a new prostitution racketeering in Orlu isn't it? After all, high institutions are just sex trading markets, not so? So why are you asking for this prostitution racket to be extended to Orlu? What about Okigwe, Mbaise, Mbano, Ohaji, Oguta, Obowo, etc? Men like you are putting their hard earned money on the ground and investing as they deem fit and all you can do is to carry on whining like an entitled brat. I pity your successful neighbours with the amount of jealousy they must be enduring from you. |
eduj:I wonder where you got the notion that I am denigrating Aba. I am Nwa Aba at heart. I never said that Abia should reconstruct the whole stretch of the express road to Enugu and PH ; I mentioned the main arterial road in Aba, which connects you to anywhere you want to go to in Aba. It's only 14KM long end to end from Osisioma junction to Alaoji through town. The other stretch is from Osisioma (Old toll gate area) express stretch to Alaoji, which is about 16KM long, making a total of 30KM. Faulks road is not a Federal road. I am happy to see that some Aba roads are getting repaired but Okezie has been a total failure and you know it. Aba is dear to every Igbo man and we know that poor governance has hindered the potentials of this awesome city. How do you feel when people whose states cannot lace Abia's shoes heap all sorts of insults on Abia because the useless governors are busy playing federal and state politics with the roads while looting the state dry? Look at the increment to Abia debt burden since 2015 and tell me it is commensurate with the progress made by the state. Okezie deserves to rot in jail alongside Orji and Kalu |
eduj:The people in Abia and the economy of Aba are bearing the cost of the neglect of the so called Federal roads. By the same argument, the governor shouldn't be building a flyover at Osisioma since it's a federal Road. Aba-Owerri-PH Road ( Express junction at Osisioma through town to Express junction at Bakassi/Ariaria) is about 17km long. On the express, Osisioma to Alaoji is about 15km. Are you saying that Abia state isn't capable of reconstructing 32 km of road and passing the bill to FG? The funds from Ariaria alone can reconstruct those roads. OK, so what's the argument for the poor state of Ngwa road? Federal road too? There is no escuse for the bad state of roads in Abia. Ebonyi state just claimed to have completed more than 1000 Km of concrete based roads and you are saying that Abia isn't capable of much more? |
sage:The Aba people of nowadays are falling too much hand. These traders pay millions in various levies every month and still carry on paying with all the bad roads in the markets. Let's take Ariaria for example; with more than 37000 shops and each shop paying a minimum of 5K per month to various agencies and touts, you are looking at more than 2.2 billion naira per year thrown into the bush, and we haven't even added all the money from the car parks. The Aba people of old would not take that rubbish. The old guards would have stopped paying and used the money to fix the internal market roads. Ariaria is like a town on it's own and the footprint of the main market is minus all the surrounding trading areas is about 1km x 700m in size. Maybe it's time to run Ariaria as it's own self funding municipality. Same goes for Ngwa Road, shopping centre and Cemetery markets It's criminal to neglect Aba, but I praise the resilience of the people. There are 3-4 heavily subscribed industrial layouts in Aba and other industries which are sporadically spread within the city and people are still investing against all odds. An industrial belt was developing towards the PH road end of Ariaria but this was quickly killed by the poor state of that road. Aba - Owerri - PH road (Express to Express) is the main artery of Aba and yet the criminal governors hid under the cloak of federal road to neglect that road. |
Blue3k:The problem with revisionists is that they don't know when they move to fairy tale zone. So on what basis would Aminu Kano make arms request to Israel in a military government headed by Gowon when he wasn't a member of the SMC? I don't even know why I bother with some of you guys. |
Blue3k:Even your own timeline shows that all arms sales to Nigeria by Israel were before the Nigeria-Biafra war and they switched their empathy to Biafra when the war started. |
gidgiddy:The should ask Egypt what happened to them when they tried to nationalise Suez Canal and deny Israel unhindered passage of vessels. They lost Sinai Peninsular, which they regained after several years with abeg. Although it runs through Egypt and commercially controlled by them, the canal is open to use by all vessels whether commercial or war vessels and in times of war and peace. Simply put, it is international waters running through Egypt and Egypt cannot stop anyone from using it regardless of their flag. |
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and in a solidly corrupt country, it can even make u 20 times richer. If we have 1000 people and 10 of them are worth 100m, while the other 990 are worth just 100k, the average of their wealth is N1m, of cos this is because the ultra rich which are very few has distorted the result. Median is a better representation but no country uses median in GDP per Capita.