₦airaland Forum

So na Abdulsalami dem carry three of the most lucrative DISCOs carry give abi?

Ok o! even people wey no get any experience for running any known business in Naija were given the Disco to manage!

Well, like poor go always talk; GOD DEY!!

http://af.reuters.com/article/nigeriaNews/idAFL5E8LGKE620121016?pageNumber=2&virtualBrandChannel=0&sp=true

* Nigeria aims to earn over $1 bln for power firms

* Power outages hold back growth, sustain poverty

* President Jonathan pins hopes on power reforms

By Joe Brock and Camillus Eboh

ABUJA, Oct 16 (Reuters) - Nigeria announced the preferred bidders on Tuesday for 10 state power distribution firms it is selling for 197.25 billion naira ($1.25 billion) as part of a plan to reform the country's moribund electricity sector.

Power outages, which amount to several hours per day, are the biggest brake on growth in Africa's second biggest economy and a frequent complaint of Nigeria's 160 million people.

In 2010, President Goodluck Jonathan announced plans to break up the state power company and sell it off as 11 distribution and six generation companies. He has promised a tenfold increase in electricity by 2020.

Four of the firms - covering Jos, Kano, Port Harcourt and Yola - only had one approved bidder each.

Many of the companies involved in the bids have little or no power sector experience, while others are backed by powerful political interests but have technically capable partners.

Integrated Energy, which is chaired by former military ruler Abdulsalami Abubakar and is partnered by the Philippines' largest power retailer Manila Electric, bid the highest efficiency target for four DISCOs in Yola, Ibadan and the two covering the commercial capital Lagos; Eko and Ikeja.

Chrome Energy, which is chaired by billionaire businessman Emeka Offor, is part of the highest bid for assets in Enugu and Abuja.

Aura Energy, which according to its website was created to buy a coal mine, was the sole bidder for the Jos DISCO and could win by default, while 4Power Consortium, which is made up of several Nigerian companies and an Indian firm, was the only bidder for Port Harcourt, which covers the oil producing region.

Sahelian Energy, a three year old company with no experience of running power assets, was the lead company in the only consortium bidding for the Kano firm.

There were no qualified bids for the Kaduna firm

10Billion: @Acidtalk, my main problem now is where & how to get in contact wit my suppliers, did u have anybody or did know any body who can direct me to them (suppliers)? Will u mind posting ur number so I can give u a call? Or can you pls call me so dat I will call u back? 08095777857 my mobile number.
Tanx alot.

I KNOW A LOT OF SUPPLIERS IN LAGOS. WILL GIVE U A CALL SOONEST OR SEND MAIL TO FEELAMONG@GMAIL.COM

TopAnalyst: UBA Plc Q3'12 Results: PAT soared by 430% to N39 billion
UBA Plc has just released its nine months ended September 30, 2012 results. Healthy growth continued in Q3, with gross earnings up 21.44% year-on-year to N168.200 billion and the bank looks on track to meet our FY N222 billion figure. PBT surged by 376.06% to N44.859 billion while PAT soared to N39.119 billion from N7.385 billion. However, quarterly earnings run rate declined, with PBT and PAT slowing by -17.73% and -9.29% respectively.
We note that operating efficiency and significant reduction in net impairment loss buoyed the profit line. On cost management, UBA continue to execute tighter operating cost with operating expenses slowing by 3.52% y-o-y to N75.015 billion.
Loans and advances came in slightly higher by 3.11% to N711.890 billion. Loan book remain subdued as combination of factors including, pricing pressure at the top end and attractive yields on treasuries, has resulted in less credit being extended to borrowers.
Deposits grew by 11.69% to N1.637 trillion; whilst net assets grew by 21.88%...

So my Oga, does this translate to a buy or sell of this giant with clay feet?

Thank u bro!!! Welcome! Pls we await ur incisive analysis and tips for good stocks!

Felzzz: Are you on SMN? You have done a great work here. Cheers.

[quote author=Felzzz]Yea! Am on SMN! Great site! But I go on another name on dat forum!

Dr. Wise:
My brother, Access bank would not kill job seekers with this funny bond. My wife signed that bond in 2009 after training school at Ikeja and left the bank the next year. Guess what??

They collapsed the 2M bond into her account which she already emptied and since then, it has been accruing debit interest. I wrote them a stinker and challenged them to take her to court but yet they have decided to take it on the guarantor who has equally asked them to seek redress in court.

I am still waiting for them . . .

BROS IF THEM COME FOR THEIR MONEY..TELL THEM SAY MAKE DEM SELL THE LOAN TO AMCON. AFTERALL NA SO THEM TAKE SELL OTEDOLA AND CAPITAL OIL OWN.

NaijaNaWaa: What makes you think that the court will exonerate your wife and/or her guarantor from a contract they signed of their own free will?

WERE THE COURTS ABLE TO RECOVER ALL THE MONIES THEIR DEBTORS REFUSED TO PAY?

CRIMINALS LIKE OTEDOLA DEY COLLECT BILLIONS FOR BANK REFUSE TO PAY AND THESE bleeping BANKS NO FIT DO ANY THING!

NA TO HARRASH SMALL SCHOLL LEAVERS DEM SABI.

BUNCH OF NINNYS

nxanadu: can i get a loan with 20% interest? i need N1-million to complete for a project. i'll pay 100k every month for 12 months. total N1.2m. i'll use my building worth N5million as colateral. if u can plz mail me on nancycute31@yahoo.com
thank u

one word! SCAM!

2ruink: In the absence of any other opinion, I'll be pleased to announce the first meeting's date tonight for Nigeria's business and entrepreneurs coalition (NBEC). Thank you!

I still suggest we meet on a weekend!

guy u cant open a CSCS account without using a Stock broking firm!

go to any of the big banks in Enugu and tell them to direct you to their stock broking subsidiaries

[quote author=tanipenny][/quote]sent!!

http://af.reuters.com/article/nigeriaNews/idAFL6E8LBGHJ20121011

Nigeria issues 172 bln naira Tbills, yields up 30 bps


LAGOS Oct 11 (Reuters) - Nigeria sold 171.83 billion naira ($1.09 bln) in treasury bills with maturities ranging from three months to 1-year, the central bank said on Thursday, and yields were up 30 basis points compared with rates at the previous auction.

The central bank sold 30.16 billion naira of 91-day paper at a yield of 13 percent, higher than the 12.7 percent offered at the last auction.

It sold 73.49 billion naira in 182-day paper at 13.34 percent, more than 30 basis point above the 13 percent previously, while it issued 68.18 billion naira in 1-year paper at 13.38 percent, an increase from 13.05 percent last month.

Total subscriptions stood at 356.07 billion naira, compared with 238.30 billion naira at the last auction, while demand for the 1-year note was strongest, at 159.26 billion naira.

Nigeria, Africa's second biggest economy after South Africa, issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity. ($1 = 157.20 naira) (Reporting by Oludare Mayowa; Editing by Tim Cocks)

peterowode: have been hearing of treasury bills for some time now,and i would like to know more about it, but is it better than fixed deposits

bro..take time and read thru the thread! For sure this Tbills is far better than any Fixed deposit!

coolguyz: 91 day bill stop rate was 13.0% and not 13.13%. . . .i believe that must have been an error!

You are very correct Sir! I think i got my self mixed up!

mymadam: Foreign investors? God bless Nigeria.

Yea Foreign Investors!!! They make the world go round! Just take a look at the Stock Market and see how they have ignited a big bon fire there! Even dead banks are gaining in share price every day!!

CBN STOP RATES FOR TREASURY BILLS AUCTION 10/10/2012

91 DAYS - 13.13%

181 DAYS - 13.34%

364 DAYS - 13.38%

Rates not looking too bad! but it seems we have more money pursuing the long dated Bills!

Am not surprised!!! Is it not ACN again Awon Rascals!!!

http://saharareporters.com/news-page/acn-sold-ribadu%E2%80%99s-presidency-bid-goodluck-jonathan-n16-billion-says-embattled-kaduna-acn-c

The embattled chairman of Action Congress of Nigeria (ACN) in Kaduna State, Alhaji Mohammed Musa Soba, has described the national leadership of the party as a “rogue leadership,” and accused them of selling the candidature of its presidential candidate in the 2011 election to the Peoples Democratic Party (PDP) for one hundred million dollars.

In that election, the ACN states voted for President Jonathan, not their own candidate, Malam Nuhu Ribadu.

“A rogue leadership is one that collected one hundred million dollars (N16 Billion) from the PDP, delivered the south-west to the PDP in the 2011 presidential election and shamelessly turn round to accuse the PDP of corruption and stealing of public funds,” said Alhaji Soba, whose removal was announced by the ACN spokesperson, Lai Mohammed.

Firing back at the national leadership in a statement sent to SaharaReporters, Alhaji Soba claimed that he is being witch-hunted for asking them to explain why they sold the bid for the presidency.

He described ACN as lacking a Board of Trustees and visionary leaders and always abusing its own constitution while shamelessly labeling others as clueless and dictatorial.

“We challenge Lai Mohammed and the national secretary of the party, Senator Lawal Shuaibu, to tell the whole world why state chapters like Enugu, Ebonyi, Abia, Cross Rivers, Bayelsa, AkwaIbom, Nassarawa, Plateau, Bauchi, Gombe, Yobe, Borno, Adamawa, Taraba and Kaduna states are all facing national leadership induced crises,” he said.

Alhaji Soba insists that he is still legally the chairman of the Kaduna ACN, stating, “Their own decision on the Kaduna leadership crisis is a nullity, void ab initio, and an exercise in futility for its violent conflict with the party’s constitution, NEC’s resolution of May 11, 2011 and all the civilised norms of a democratic practice.”

He also described as empty, the threats by the ACN national leadership to sue the Kaduna State Independent Electoral Commission for recognizing him.

“The threats by some national officers of the ACN to drag the Kaduna State government and the Kaduna State Independent Electoral Commission (SIECOM) to court to stop the forthcoming local government election over the latter’s recognition of Barr. Mohammed Musa Soba as the duly elected chairman of the party in Kaduna State, is an empty threat and an emotional blackmail that exposes Lai Mohammed as an impostor whose intellect has been badly infected by intellectual virus to the extent that he does not know the definitions of law and democracy anymore,” he said.

velo10: Even in private universities?

Lead university na Private university?

http://af.reuters.com/article/nigeriaNews/idAFL6E8L4E4B20121004

Nigeria plans 172 bln naira T-bill auction

LAGOS Oct 4 (Reuters) - Nigeria plans to issue 171.83 billion naira ($1.09 billion) in treasury bills ranging from 3-month to 1-year maturities at its regular bi-monthly debt auction on Oct. 11, the central bank said on Thursday.

The regulator said it will issue 30.16 billion naira in 91-day paper, 73.49 billion naira in 182-day bills and 68.18 billion naira in the 364-day paper next week.

Traders said the 1-year paper is oversubscribed by offshore investors and local pension funds, which have shown robust demand for local debt after it was included in the JP Morgan government index this week.

Nigeria issues treasury bills regularly to reduce money supply, curb inflation and help lenders manage their liquidity. ($1 = 157.12 naira) (Reporting by Oludare Mayowa; Editing by Tim Cocks

FOR NOW, ITS EVERY ONE FOR HIMSELF AND GOD FOR ALL!!!

Billyonaire: Patience GEJ is a private citizen, Nigerians should leave her private health life out of their jobless amebo life. In the event that anyone should find a constitutional clause to prove to me she is a public figure as President's wife, which I doubt, Its also State Secrecy to keep health of state officials secret so enemies wont go doing 'winshees' on her.

Private Citizen My A$$!!

So who has been paying her bills all the while? On whose bills has she been galivanting around the world not to talk about the number of times she has caused untold traffic hardship to lagosians?

Well, lets just wish her well as she continues to consume our common wealth of 'designer' cassava Bread and beans

BTW we have really missed her yarns!!

dannywest: For how much salary? Nigeria's rotten shaa

See you! You think its about the salary? Just ask an average customs guy at the warf what he makes every day, or as the Immigration guy at the Airport/Passport Office how much he makes everyday thru corrupt practises?

Naija we hail thee!!

Just wondering how this crap made the Front page!!

Hei! send to feelamong@gmail.com

tried calling you. reach me on feelamong@gmail.com. am interested in this gym equipment

I hope Fashola and his propaganda filled commisioner for Environment are hearing this one now!

Time for them to clear out all the silts and debris in the canals around lagos!!!

By the time the whole lagos is covered by water they will start telling you its a natural phenomenon and that Lagos is below sea level!

peaceheartt: Hello dear NLders

Kindly help to verify this:

For over a month now, my emal box had been receiving several hits from this Godwin Osondu, talking about joining his team who do some sort of daily task to earn N4,800 daily and ur account gets credited with the said sum per day.

I would really like my good Nlders out there to verify this and ascertain its authencity.

Tnx all.

SCAM!! tell him to go and tell everyone in his kindred whom i know must be suffering now to come and make money easily.

http://www.bbc.co.uk/news/world-africa-19801814

At least 20 students have been shot dead by unknown gunmen in Mubi, north-eastern Nigeria, a police source has told the BBC.

The attack happened at a student hostel away from the Federal Polytechnic Mubi campus, the source said.

A lecturer told the BBC that more than 40 students had been killed but there has been no official comment.

The reported killing comes days after a major operation against the Boko Haram militant group in the town.

The lecturer, who did not want his name to be used, told the BBC's Hausa service that the students were asked to say their names after lining up.

He says it is not clear why some were killed and others spared - some of those killed were Muslims.

"Everybody is scared and staying indoors now," he said.

He added that students were now leaving the town - they have draped tree branches over their cars, which is a traditional sign of neutrality in Nigeria.

Boko Haram militants fighting to establish Islamic law in Nigeria have killed more than 1,000 people in northern and central areas this year.


SAD!!!! VERY VERY SAD!!!!

After selling their Birth right for a "pot of Porridge' they are complaining that PHDs have lost its value!

Ok, lets see how they will stand for this resolution.

Bunch of nimcompoops