₦airaland Forum

They should trash the 20% population and make it 5% then move the 15% to derivative.
65, 30, 5%..
On a norms, there shouldn't be population cos you large population should fund your derivative but make we dey watch.

I feel it's best the national assembly pass the death penalty bill for kidnappers and terrorist whose victim dies in their den and life imprisonment for those who was caught in the act.

It was that red card that gave Madrid some breather and even with a man down, they couldn't do anything

To me, I feel pension for govt officials (from fed to local govt) should be handled by PFAs and statement of acct/alert of payments sent to the individuals.

Ti me, I feel pension for govt officials (from fed to local govt) should be handled by PFAs and statement of acct/alert of payments sent to the individuals.

ChiefOloye:
Did you read the news, before writing this? The US did nothing wrong in that instance. Jonathan administration either failed to do due diligence or was just pure a corrupt deal that went south.

Either he used arms dealers to purchase his weapon against boko haram then because of the embargo or he watch boko control a vast land of the north

Eboofa:
Do you know the number of sanctions and arms embargoes the useless Obama admin placed on the Jonathan government? Get your facts right!

The guy is just playing d*mb to history forgetting GEJ tried his best to arm the military as at that time against boko haram and even started romancing the Chinese and Russian govt for arms purchase because the US placed that embargo on us because of his staunch resistance against LGBT. Which eventually made him invite mercenaries to do the dirty job while our military did the followup cleanup prior to the 2015 election.
And still the same APC as opposition was wailing that GEJ was killing the population up north

That no 8 is very important. It will guide your step and also when people know u bite back, they will be guided.

He's too wasteful, using the big jet for a 45mins flight between Abuja and lagos.. what happened to the smaller economic friendly jets?

That's why we ain't performing because we ain't realistic. How will u project a budget pegging crude production to 2.mbpd when we are barely staying above 1.7- 1.8m per day. The exchange rate is ok as the efms is reading above 1520-1570/$ (the extra earning will be wiped out by oil) thereby making budget implementation slightly above 60%.
We need to start creating a budget based on reality instead of wishful thinking. By then we can know our true stand economically, achieve excess crude savings, full budget implementation

dominique:
A law should be made stating that any political office holder that defects should automatically lose his or her office. Once that law is effected, we won't be hearing of all these cross carpeting by shameless opportunist politicians

There's a law on that already but the institution is too weak and corrupt to enforce it

Kukutenla:
What is the meaning

There's excess inflow of fx into the country which naturally will appreciate the naira caused by eurobond, diasporians. But when those IOCs and airline repatriate their money back to their country, the value of naira will drop again.
What we need is a steady supply of fx (not loans) to maintain or appreciate the naira

generalbent:
The so called extortion you guys keep saying, is it bigger than your lives? Let the police and the military vacates the checkpoint, the same people shouting extortion will be the same people shouting to bring back checkpoint, why this hatred to our armed forces and the police? If not the presence of check points along Owo-Ifon-Benin road and Ore-Benin road, do you know the evil committed by the kidnappers along these road mentioned ? Let be wise and be sagacious. I don't pray you fall prey to the hands of kidnappers or armed men then u will realized the importance of this men you're creating hatred on. I come in peace!

Nobody is saying there shouldn't be checkpoint but let the checkpoint be fully focus on their duties instead of making it look like an unofficial toll point

This is long over due, I once wrote the the Nigeria army PR unit about the conduct of their men in a certain checkpoint, no response was gotten until something bad happens before they start their usual fire bridage approach

LandMann:
The article heading and body is misleading.

The first report of this news was around 3 weeks ago here:

https://www.nairaland.com/8267497/nigeria-plans-issue-1.7-billion#132888795

It was reported then that Tinubu government is trying to raise foreign currency denominated debt in Nigeria which is different from Eurobond. According to the report it was first done in September and oversubscribed by around $400 million.

The Eurobond component of this new debt is $1.7 billion.

I think the domestic foreign currency denominated debt is $500 million (which is what I'm warning about).

Aside that

LandMann:
Reread my post. When time reach to payback and they cannot find USD because it's been looted, they'll forcefully convert the USD to Naira... U either accept naira or you get nothing. Meanwhile they'll have used inflation to kill naira before the bond matures due to printing of money to sustain the high CBN interest rate

You ain't getting it.. there's a difference between international debt market(fcy) and domestic debt market (lcy). Eurobond are marketed in the foreign capital market (NYSE) and subscription is based in fx. And repayment is also in fx.
If it might interest you to know, the FG through the CBN maintains an acct with JP Morgan and proceeds and repayment are paid there. You can't force foreign investors to accept naira.

Now if going by what you are saying, the worst the govt can do is to dip their hands into dorm accts of its citizens (convert their fx to naira equivalent) and repay the bond. Either way, eurobond are always paid in fx currency except you want to default thereby affecting your credit rating

Macphenson:
One of the most controversial issues in this Tax Reform Bill is that 60% of VAT will be given to the state it was collected from, It seems by this it will only favour mostly Lagos and Rivers State to the detriment of the Northern states who are collecting more VAT based on population.

Here is my concern, Lagos state was deliberately made the commercial headquaters of the Nation to the detriment of other states the more reason it collects more taxes.

Practically, All the cars entering the country pays their tax to only Lagos state. Even the cars to be used in Rivers, Akwa Ibom, Bayelsa, Delta and Cross River states. Now this is not fair to these states as they have their own seaports but cars are not entering them, the taxes they are supposed to get as a state goes to Lagos state.

Also, Telecom companies pay their VAT in Lagos because their headquaters are located in Lagos, If this new bill is passed, that is no longer fair to all other states where the Telcom companies operate. Telcom companies should now start paying VAT to each state they operate as you can no longer rob Peter to pay Paul.

Oil companies have their headquaters located in Lagos while they operate in different states especially in the Niger Delta. This will no longer be fair if the bill is passed becaused those states where the oil companies operate will start demanding that the oil companies pay thier VAT in those states they operate.

The truth is this bill if passed, is seriously going to open litany of issues which I dont think at the moment the bill captured or resolved it.

Another dangerous dimension, this may prompt the oil producing states to start demanding for 60% of the oil revenues from their respective states, once this happens, chaos will reign supreme in the country.

The bill should first be implemented then as time goes on, the challenges raised can be resolved by amending the bill to reflect current reality

LandMann:
When time comes for you to redeem your funds Tinubu will start telling you stories.

Last last this is a new ploy to forcefully seize and convert your USD to Naira.

Invest your USD for Tinubu and his corrupt administration to loot at your own risk. They'll print a valueless naira to pay you back

You buy fx bond in fx currency and still pay back in fx currency.
That issue is, how do they plan to pay back when the fund realized will be used in supporting next year budget instead of a capital project capable of repaying the bill in 7-10yrs time? Are we going to borrow to repay because defaulting will impact on our global credit rating?

GreenCovering:
Chai!!!
Black nations don suffer. See how they clever hid lithium mining under energy transition and place the picture of the Kwara state governor there where the bulk of the mining shall be happening.

Since the francophone junta kicked them out and got Russia backing, the French need another source of cheap energy source and here comes Nigeria. That's why they rolled out the red carpet and do pops and pageantry because our leaders are too dull to think.

If the energy deal involved mining, developing and exporting refined finished lithium products, then it's a win win but if it's just to mine and export the main raw materials to be sold at one-tenth the international market price as they did to the francophone guys, then i feel sorry in advance for our people

Artiiclebeast:
Just imagine how Peter Obi and Atiku conveniently sabotaged themselves and majority of Nigerians to enthrone this disastrous Ebilokan.

See how they split the votes to empower and embolden APC and INEC to rig to the throne.

So now na PO and Atiku we go blame?🤣🤣🤣

Now that's what a president should do. Get the hands ready to work before the work starts properly. Unlike my country where it takes ages to pick the hands

kentosman:
na wa ooo. We don't even know who to believe again

How i wish it is possible for Dangote to sell refined products below NNPCL benchmark but... that all depends on the international CRUDE OIL MARKET price . at least we would have known where our problem is coming from.

Challenge is Dangote has been forced to source crude from outside which follows international crude price...

Big Question is why can FG sell our own crude to him at a subsidized price? Does our so called government really care about the plight of average Nigerians? Haba!

At least we for know if this is monopoly oriented.

what is governance without people's interest biko?

Your govt have committed part of future oil in exchange for loans which is being repaid. The remaining can't be sold below benchmark just so they can fund the budget to a certain level and also secure loans.
As it stands, dangote has to source for oil externally and sell at the international rate. My issue with dangote now is, why can't he export his refined oil to the same international market or local marketers he claims that are ready to buy the complete stock from him?

The church can for a start give food items to members who don't have.
In the Catholic Church for instance, we have St Vincent the poor society. Church members do give contributions to them and in turn, they give to the society on an announced day.
Secondly, employers can have job openings for members of the church thereby reducing unemployment and this can have a ripple effect too

iLoveYouToo:
Now they want FG to provide them with cover, same cover FG gave to local rice producers that are now choking us with price.

Local producers are just evil, especially the ones backed by FG’s local content promotion.

It’s only in Nigeria that imported goods are cheaper than the locally produced (often inferior) ones

Na the rice own off me.
How can local rice be competing in price to foreign rice? Even things we produce locally are competing with imported one. If not that the govt is trying to give the local producers protection, they should have opened the border especially for foodstuff items to be imported.
Maybe at least, our local producers would have small conscience when they know they don't have the govt backing

Me and teaching work no align.
With what I saw during my service year. I would rather have my child go to a well disciplined public school with ethics than a private school to be spoilt.

MT:
You do not need to explain electoral college to me. I am an american.

Do you want to dispute the fact that electoral college vote does not give individual's vote same weight and value, as citizens?

Just as it ensures a state with high population can't single handedly decide who becomes the president. Over here, the KKK states always decides who the president can be almost single handedly thereby depriving others from having a say which the electoral system can curtail.

MT:
At the bolded, so you are implying that America that uses electoral college do NOT reason well.

So, what is your argument exactly?

You first praised the electoral college, now you are condemning it. You keep contradicting yourself.

Electoral college use popular votes and spread. U win the state and get the state electoral college vote. In other words, u can win majority (population votes) and still lose (spread).. electoral college prevent a region with high population from controlling who gets into power.
Other develop country use almost similar but via parliament. Populist votes works mostly when the country don't have divergent views and ethnicity.

MT:
If electoral college was so good, how many countries, apart from the US did you see practising it?

Every citizen vote ought to be equal.

You are supporting the system in order to score cheap political point against some of your perceived enemies.

The system has been there for long and it was envisioned to avoid a side of the country controlling the scene. Reason other developed countries don't use it is because they are united and reason well unlike Africa that have b@sterdized the system of elections.
Can you list Africa countries that practice normal election without fraud involved that's developed.

MT:
It's not a good system where individual's votes are not equal.

Citizens vote should have the same weight and value irrespective of where they come from.

That's what we need in Nigeria actually to checkmate the issue of a certain region feeling they have complete dominance in the electoral system.
Our college should have equal number of votes between North n south. Then each state should have a certain college weight based on their population and representation. That way, no region will be sidelined during the campaign period

DEROX:
Those guys are pure losers check well if not for this stupid government they amount to nothing even outside the country its only their Christians that still make it sha

Very annoying folks

The difference is clear

Trump: I made promises and I will keep them.

My country: emi lo kun.. I know you didn't vote for me and I am here

See inspirational speeches

DEROX:
afon moozlems do say if Igbo support you, you will fail so what's happening today

Those guys dey support rubb!sh.