₦airaland Forum

aloeman15:
A recession is defined as 2 succeeding quarters of drop in gdp.
This means that we have been in a recession since january 1st.
A sustained recession will lead to a depression.
Please note-
Crude oil price is rising, but we're producing less due to militants, et al. This means we'll be paying more for imported petrol, but making less petrodollars from our exports.
Net effect-
Further drop in gdp.
And remember two things- 1. The budget money still hasn't been released for projects.
2. Most of our borrowing repayments were based on 2.2million barrels production daily. Current estimates are 1.4million. This means we will likely borrow even more before 2016 ends.

1st of January- recession hypothesis
1st of June. = recession theory confirmed.

patches689:
I am covering my displeasure with an attempt at humor.
I am now dead inside.
If they get the K2, I am going to throw myself off a building.

suicide? hope u are jst joking ,beside I don't think Botswana can afford does k2's

patches689:
[size=15pt]BOTSWANA GROWS STRONGER
[/size]



Gripen + New Piranha + K2 Black Panther = Sweaty Generals in Defence HQ in Pretoria

wot a great sense of humor

cybriz82:
Nt for nigeria cus dem go rubbish d machine.na dane guns good for dem.dem sabi operate dat 1 wella.

bros u bad,but our army dey try

dozai:
Guy how come Ur moniker dey show female. u b g?

even me surprise o.
nairalanders b @ alert

nuggybabe:
To God b d glory i got a teaching job through nairaland. I give God the glory, atleast half bread is better than none.

thank God for ur life. even me dey find so hw u take do am.

Nigeria’s GDP fell by 0.36% in the first quarter of 2016 from Q4, 2015 levels according to data released by the National Bureau of Statistics. 2015 was a largely disappointing year for the Nigerian economy with the GDP numbers slowing in every quarter but Q3. Now as the GDP growth numbers have been positive all through, economists largely restrained themselves from declaring that the economy receded in Q2, 2015 after a second consecutive quarter of decline. Now with Q1, 2016 data also showing a second quarter of growth decline in a mist of positive growth numbers, the verdict appears to be the same.
Whether Nigeria is technically in a recession or not at moment, what is most important is the reason behind the growth decline and what the implications will likely be going forward. Both the oil and non-oil sectors of the economy experienced negative growth during the quarter, whereas in 2015 the non-oil sector recorded positive growth rates all through. Most worrying is the fact that Agriculture which accounts for about a quarter of Nigeria’s GDP has finally stopped growing as well.
Despite oil production peaking at 2.2 million barrels per day during the quarter (according to the NNPC), the average price of Nigeria’s Bonny Light crude was a meagre $38.91/b in March 2016 (an increase of 17.80 per cent from the average price of $33.03/b recorded in February 2016). Now oil production has declined by about 0.8 milion barrels per day in May following repeated attacks on oil infrastructure by Niger Delta militants.
The Central Bank of Nigeria had issued clear warnings back in September that the economy could slip into recession in 2016 if proactive steps were not taken to revive growth in key sectors of the economy. With the delay experienced in passing the 2016 Budget, those proactive steps never saw the light of day. All these culminated in the Honourable Minister of Information declaring after the Federal Executive Council meeting of 10th May, 2016 that the country is now financially “broke”.
Other news
According to the results of a stress test conducted by the CBN on the status of the banking system, the Capital Adequacy Ratios of two banks have fallen below regulatory capital requirement of 10 percent. The CBN governor, Godwin Emefiele, classified lenders into three groups: large banks, those with assets greater than or equal to N1 trillion; medium banks with assets greater than or equal to N500 billion but less than N 1 trillion, and small banks with assets of less than N500 billion. The stress test captured the peculiar nature of individual bank’s balance sheet and macro-prudential concerns, using the bottom-up and top-down approaches. The exercise covered the 23 commercial and merchant banks, using the credit, liquidity, interest, foreign exchange rates and foreign exchange trading risks elements. The report, which measured the lenders’ positions as at December last year, showed that overall, there was high risk through unsecured interbank exposure.
Federal civil servants and the organized private sector have defied the call by the Nigerian Labour Congress to go on strike to protest the increase in the price of petrol by the Federal Government. While the Ayuba Wabba-led NLC meeting with the government broke down, the Joe Ajaero faction and the Trade Union Congress struck a deal with the government and refused to join the strike. Workers at the Federal Secretariat, the Head of Service and the Federal Civil Service Commission in Abuja reported to work, and did not participate in the rally by the Wabba-led NLC later Wednesday morning.
In Lagos, thugs hijacked the NLC protest, and attacked the protesters. This came despite the security measures put in place by the police to protect public and government facilities. The mayhem started around early at the Fadeyi area of Lagos, when the hoodlums from Mushin, Bariga and Somolu struck. The miscreants blocked the entire stretch of Fadeyi, forcing motorists heading towards Ojuelegba to turn back and people to run helter-skelter. While no life was lost, some pedestrians and motorists sustained injuries, while several cars parked on the road were vandalised.
A few days ago, one of the Chibok girls kidnapped over two years ago was seen and brought to the village for identification. Amina Ali was rescued on Tuesday night in Bale village at the edge of the Sambisa forest by a Chibok vigilante group which handed her over to the military. Residents poured on to the streets as news spread that troops had brought one of the abducted girls to the village. She was 17 when she was abducted, and is now mother to a four-month old child, fathered by a Boko Haram fighter. Her father died of trauma while she was in captivity. Amina Ali said that the Chibok girls are well secured and protected to stop the Nigerian Army from rescuing them, while six of them have died in the two years since. A second girl was rescued, but there are doubts about whether she is one of the Chibok girls.
A new militant group, Red Egbesu Water Lions, has surfaced in the Niger Delta region, just as suspected militants, Tuesday night, blew up the Sagbama-Tuomo gas line, belonging to Nigerian Agip Oil Company, NAOC, at Egbembiri, Southern Ijaw local government area of Bayelsa State. The explosion destroyed the Ayama section of the Ogboinbiri-Tuomo gas pipeline. That line is said to have been repaired last week and again vandalized. The new militant group in a statement by its ‘Creek Network Coordinator’, General Torunanawei Latei, said it was teaming up with the Niger Delta Avengers and Indigenous People of Biafra, and issued the Federal Government a seven-day ultimatum to release Nnamdi Kanu, former National Security Adviser, Sambo Dasuki and direct the EFCC to de-freeze the bank accounts of ex-militant leader, Government ‘Tompolo’ Ekpemupolo.
Another petrol crisis is brewing as some vessels are stuck off Nigeria’s coast, unable to unload their cargoes of petrol and diesel. At least 75 ships with two and a half million tonnes of fuel are waiting for importers to find the dollars they need to pay for the cargoes. Some of the vessels arrived a month ago, and the owners are said to have almost given up hope and started to offer their stock to buyers outside Nigeria. It was gathered that a number of marketers who were given petrol import allocations for the second quarter of the year have not been able to source foreign exchange for importation due to the dollar scarcity.
Suggestions
There is no positive way to spin the GDP results, Nigeria is headed towards recession, and this is bad for the country in every way. Businesses, already in panic mode, may get even more frightened, and accelerate worker lay-offs, thus aggravating the already dire unemployment situation. Banks, already facing rising non-performing loan numbers, and with many of them feeling insecure after the CBN’s stress testing, may altogether shut down lending to the real sector. In addition, consumers could altogether cut non-essential spending, thus crippling the retail sector in the process.
The NLC has shown itself to be behind the times, and has as a result lost its relevance. They have failed to realise that the work environment is changing. With increasing globalization and increased access to better qualitative education, the work place has witnessed a revolution, which means that the NLC’s traditional recruitment grounds have not been as fertile as before. Added to that, the public mistrust of the motives of the NLC’s leadership, and you have a toxic mix for unions in the country. This may work in the interest of Nigerian businessmen as a lack of unions could lead them to a more relentless drive for profits. But the Nigerian worker may see his conditions deteriorate sharply over the coming few years.
It is disheartening that the security agencies allowed miscreants to hijack the peaceful protests especially in the Fadeyi area noted for chaos and criminality by all manner of gangs. We advise the Police in Lagos to always strive to protect the people and the property from outlaws in the state.
We are pleased with the ray of hope provided by the discovery of one of the Chibok girls. We find it very sad that she has an infant, and is also with child, ostensibly repeatedly raped by the abductor-turned husband. We urge the military intelligence to carry out proper and detailed debrief of the youngster and her captor, with the possibility of using any information gathered from them, to mount an operation to rescue the remaining Chibok girls.
It is becoming clear the Niger Delta is now in a severe situation, and under the tightening grip of new emerging militant groups. Based on their demands, we do not, at this time consider the Red Egbesu Water Lions a genuine threat. However, these developments suggest long-term bad signs for the economy, environment and the people of the region. We once again call on the President to initiate a comprehensive peace plan to end the region’s woes.

SBMorgen

Russia’s MiG-35 multirole fighter jets will soon be equipped with the latest Platform Less Inertial Navigation System.
The adaptation of the navigation system designed for shipborne aircraft will be completed by July this year, MIG-35s will receive the BINS-SP2, which is absolutely quiet, solid and user-friendly.
> About System.
The system is designed to determine the location of the object, complex processing and delivering navigation and flight information. It is also able to determine the coordinates and parameters of an object in the autonomous mode and in the absence of terrestrial, marine or space signals.
> About Mig-35.
The MiG-35 is a multipurpose 4 ++ generation fighter, it is a further development of the MiG-29K/KUB and MiG-29M/M2 combat aircraft with improved combat effectiveness and versatility, as well as improved performance.

The Triune God is one in its multiplicity and single in its diversity. However,we cannot comprehend Him with an incomprehensible comprehension. This is because of the mysterious nature of the Trinity.
The Trinity as a model for Christian Love.
"In the name of the Father..."that is the way we Christians, especially we Catholics, are accustomed to begin our prayers. At the end of our prayers,we are accustomed also to address our petitions to the Father, through his Son, Jesus Christ, in union with the Holy Spirit.
When we admit someone into the Christian fold, we baptise him in the name of the Father and of the Son and of the Holy Spirit. All these facts underline the central place that the Trinity occupies in our religion. In fact,faith in the Trinity constitutes such a formidabl bedrock of for the Christian religion that it is impossible to be a Christian unless one accepts the Trinity with an implicit, unflinching faith.
Some non-Christians have been known to accuse us Christians of professing belief in three gods, what is known as the error of " tritheism".But Christianity does affirm that there are three persons in the one Godhead.
Basis of the Trinity in the Bible.
While we do not find the terms Father, Son and Holy Spirit used in the Old Testament,we nevertheless have the germ of the doctrine of the Trinity there. For instance, the Spirit of God that moved over the face of the void before creation began( Genesis 1),and Wisdom, which not only pre-existed creation, but actually collaborated with God in the work of creation as the "master craftsman"and "architect" with God(Prov.8:22-31), have both been cited as Old Testament antecedents of the doctrine of the Trinity.
But in the New Testament the doctrine of the Trinity becomes unequivocally explicit. In the New Testament, the names of Father, Son,and Holy Spirit are used explicitly to refer to the Godhead.There are abundant references to the Trinity in the New Testament. We hardly need to cite the here.
One thing that emerges from all the New Testament references is the fact that they only tell us that there is a Trinity of Persons in one God. They do not tell us how there are or can be three persons in one God. Therein lies the
mystery of the Trinity. The early Christians,among those mentioned in the New Testament were satisfied merely to know and believe that there was a Trinity. They did not seem to have bothered to know how such a Trinity wad constituted.
Later Christians, however, did not seem to be so satisfied. They wanted to know how the Trinity was constituted. This stirred up long and heated controversies in the Church during the 3rd and 4th centuries A.D. In the process, some Christians, like Sabellius, Paul of Samosata and Arius adopted heretical positions while others like Athanasius, Cyril of Alexanderia, and the Cappadocian Fathers,Basil, Gregory of Nazianzen and Gregory of Nyssa stood up in stout defence of the orthodoxy. The controversies gave rise to the first general councild of the church, known as Ecumenical Councils. These Councils made landmark definitions of the doctrine of the Trinity.,that have been handed down to us through the ages.While the controversies raged among philosophers and the theologians, the ordinary Christian faithful remained unshaken in their belief in the divine Trinity.
THOUGH A MYSTERY TRINITY HAS VALUABLE LESSONS.
GOD is community, not pure solitude.The community that GOD is,is founded on love. Mutual love, harmony, unity are the words. But , atthe same time, there would be room for legitimate diversity in the Church, just as in the Trinity. In the Trinity, the three persons retain their identities: The Father does not become the Son,and neither of them is the Holy Spirit.
If that is the mind of Christ then we have a duty, even a mission to work for its realisation.
Then,our communities must make allowance for legitimate diversity. They should not be monolithic, fossilised, conformist institutions in which everyone thinks the same way, says the same words, does the same deeds in the same ways
Love has hardly ever been the basis .
Tolerance is equally vital.
No marginalization.

Ibe Cyril Chidi

iblawi:
The girl arrested was 13years while the girl rescued is 19 years as at when recued. They are two different people please stop all this hatred cause it won't make you think the way you should have thought if you were neutral. How will a 13 year old be writing WAEC? The age difference is too wide.

Bros, even if you claim government is lying will the parent of the girl too lie? What of the neighbors and school students/principal?

Abeg stop spreading fake information.

n for ur eyes dat girl with pikin don reach 19.

I weep fory country

jln115:
Ethiopia basically has no air force and their army is filled with ww2/Cold War relics.....So yes Angola and SA are with out a doubt more powerful than Ethiopia, the days of Quantity>Quality are long gone!!

dere SU jet series are toys,over hyping oneself is very bad.hw I wish u were neighbours with dem den u will knw if dey have airforce or not

jteku:
Guys check this outSpot the difference.

It is only in Nigeria that a 13-year old female suicide bomber arrested by security agencies in the past disappears and re-appears two years later as a "rescued" Chibok girl.

Buhari well done. We expect more as May 29th approaches.

Sick propagandists!

oga take does pix down b4 some pple go call for ur head

Enahi:
Nollywood Actress Mercy Aigbe

never knw she is Edo ,I thought she's yoruba

bidexiii:
Bros; Obanikoro was once the defence minister...
Amechi e.t.c are all corrupt politicians........!

But why divert issues to other political/economical matters, like the recent rice in fuel and tomato price. Lets stick to the loot made by these military chief and top politicians. Since that was the question BlackBaron asked initially..........

oga bidexiii sorry for how dis thread has changed.
-I am talking about the ONSA no MOD
-I don't n will never support or condone corruption or any of its form.
-but pls b4 we hang d accused let's give room for fair hearing.
-even the current COAS was a procurement officer in d last regime

bidexiii:
Why do u always deviate to economic issues.

You r right obanikoro should also be behind bars. Trust the thieves left the country immediately buhari was sworn in. Trust be me he can run forever. Jonathan should also be questioned also becos he should av monitored the money, so it will be judiciously spent.

Now u r talking.......

bros is obanikoro d former NSA b4 dasuki?am talking about azazi.
d way buhari is monitoring his govt.and lai muhd wan to withdraw 13m without due process,or is d $500m amechi loot,or is it the #12b grant from America for COIN ops.
plus many more so leave GEJ alone tell mr president to go and do his work

Henry240:
It isn't a difficult question.

atal we Nigerian enjoy it most,giving sentence without finding the accused guilty

blazetitov:
You deviate from the main issue and started attacking me as if am your personal problem. Stop being an idiot. Mr ITK, you see tavor riffle being carried about by every tom, dick nd harry? You need to get busy and stop being a nuisance. Its not a must you quote me. You moment of fame is over.

Mr olodo it's carried my d DSS tactical team,naval SBS ,and d president security team

bidexiii:
THESE HIS TRAGIC............

looks like a shoot from a sniper

bidexiii:
Honestly let's be sincere with ourselves.....

And with our wealth of knowledge on military issues, should with not av modern MBT's, IFV's, 3rd/4th gen jets in our inventory!!! I mean let's call a spade a spade... these military chiefs, advisers & ministers r thieves, point blank ....

R u telling me that these people do not embezzle funds meant for military procurement.

@henry ; $2.1 billion was released to fight BH, apart from the normal annual military budget.

well calling a spade a spad shouldn't be based on dem say theory.u are still citing $2.1b wen d new govt says it's $15b leave all does story.if u want to fight corruption let dem do it and stop making excuses.


even d former late NSA his house in Lagos should be called to question.

Henry240:
How much was released by the ministry of finance for acquisition of assets?

spot on,I am not in support of corruption but wen accusing someone hav ur facts.

bidexiii:
@giles14 I see U.............

oga boss Na wetin I do

blazetitov:
Why you sounding frustrated? Is that a simple hunter's riffle?

Mr professor, go get busy.

illiterate define frustration

its d kind of u dat sees an attack helicopter and call it a fighter jet.
tavor rifle is a CQ rifle.
go make ur research n u mustn't comment on all things.

Emmatdayo:
shut up and go back inside ur class room,be a good boy

unemployed tout shutup and return to your stand

secnelly:
[b][/b] Wow. This state is always ahead of others.


Nice feat.


Meanyl, Sorry for derailing.

Good day everyone.

Thank you for checking in.
This might be an opportunity you've been craving for, please be patient as you read through.

He is a graduate of Pure and Industrial Chemistry, Second Class honours, Upper division from a reputable institution in Nigeria and works in a Plastic Manufacturing firm.

He wishes to use this medium to reach out to all Nigerians willing to employ experienced hands in their Plastic manufacturing firm and/or willing to add value by employing quality hands to their Plastics manufacturing line.

You're most welcome!!!

I am here with 4 years experience in Plastic processing and have been privileged to work directly with Indians in different fields; about 5 of them managing 30 blow moulding machines, 10 PVC extrusion lines and 20 Injection machines with other plastic processing machines, within these 4 years and have as well gathered wealth of experiences which will be useful in your organisation if you employ me.

I possess sound leadership qualities and can deliver favorably beyond expectation with minimum supervision.
This is to mention but a few.

I will be available for a chat if you deem it fit that i should be part of the winning team in your existing, new or soon-to-be-established' plastic manufacturing institution.

A pm or silent quote in this regard will be appreciated.

Thanks for your time and God less.

even me dey interested

blazetitov:
Those are very powerful riffles. Maybe Dasuki wanted to sell those items off in the black market. The agency that issued such weapons should be confirmed and if they were not issued by any of the security outfits, Dasuki might be facing a bigger problem.

wot mak dem powerful,must u comment ,since wen did tavor 21 becom powerful, bros go and read up on CQ rifles cos d internet is ur friend.




And stop polluting dis thread

Sulaicsafas:
Did the download restart, or it was breaking on the process

nop b4 I started downloading I had 1060mb 30minutes afta downloading I checked and saw 390mb .it was jst lik magic

raker300:
europe. U.K. To be more specific. By plane so it gets to its destination faster

which airport dem dey use

bros am also interested

07057298821