jpphilips:


Excess crude revenue account is an account of the fg, that temporarily houses the differential between senate oil benchmark and its true market value. section 162 forbids the fg from neither keeping it to itself nor appropriate it for her use. same with everyother earnings of the FG.
Foreign reserve is a component of the federation account used to be called stabilization funds (i have no clue what they call it lately) usually saved abroad presumed to represent a contingency fund, in practice it usually guarantees foreign direct investments.

Ok

jpphilips:


Not correct, read section 162 of your constitution.

God, I am feeling dizzy with all that English. Unless there is something I am missing here, section 162 is talking about Federation Account

homerac7:


I have known @jjphillips on this platform for about 10yrs. When he talks economy/economics/finance, you pay attention. He definitely knows what "shiit" he talks about.

He certainly sounds like Minister of finance Which is why I am asking for enlightenment. Because according to the Senate, they are scrapping the Excess crude account because "it's unconstitutional for the president to have an unchecked access". That's exactly what they said. But if he says it's wrong, then I believe him because this will not the first time NASS has made a total joke of themselves.
https://www.google.com.ng/url?sa=t&source=web&rct=j&url=https://www.vanguardngr.com/2017/11/senate-calls-abolition-excess-crude-account/amp/&ved=0ahUKEwiqzZeQ8_XXAhUB-6QKHWesACwQFgg5MAQ&usg=AOvVaw3MUsVbk4W4mHfogqIqGuwf&ampcf=1

jpphilips:


Your foreign reserve is basically your foreign investment funds guarantee in pragmatic terms, it doesn't function as it sounds.

Can you please explain then, I am not challenging you, just curious. Both Foreign reserves and excess crude account.

patches689:


American air-defence focuses on shooting down missiles, Russian air-defence focuses on shooting down jets.

Cant really compare the two.

America system focuses on missiles while Russian system can shoot down about anything airborne thus the comparison that Russian systems which are more universal are better than American systems which are more specific.

Odunayaw:
Ibro(if permitted). Can't something be taken from the Excess Crude account. The official benchmark is about some $20 below what is selling ATM. Can't we just take $2 bpd and fund defence needs

The ECA is supposedly under the full control of the president (though NASS are in the process of scrapping it) the president can use it for anything, but for some reason I don't know it's always been dormant even during the past administration which get me thinking maybe there are restrictions.

tdayof:


I saw the increment in our foreign external reserve and I felt like removing just a billion USD alone and place orders for some flankers.

keep daydreaming.
Doesn't work like that, external reserves are there in case of economic emergency like recession. Ours depleted because CBN kept using it to intervene in forex to keep naira strong.

Russia makes the best air defense systems just like America makes the best fighter jets. S400 can shoot down about anything airborne (allegedly).

Frumentum:

What happens when they fall out with the Saudis and the cheques stop coming? $1.5 bn/annum from Uncle Sam won't be enough to properly maintain that vast arsenal.

I think if they fall out right now, it's bad news for Egypt, but in the next five years or so, if won't matter because by then their economy should be fully back online. There has been serious leapfrogging for them in the last 2 years like overtaking Nigeria in foreign reserves and Algeria and SA in GDP, it might not be enough for procurement of more platforms but I think it should be enough to maintain the current ones.

Josfactz:
the AFSF guys were recently deployed to my hood , the had the polish Beryl all black and Bykes

Uniform model ⬇

Where?

Colonel detained in Egypt for announcing presidential ambition:
http://punchng.com/colonel-detained-after-announcing-presidential-bid/amp/

Ashiru97:
pls sir what is Nigeria army equivalent of nig navy sbs

AFSF

Somebody just said Nigerian ships are not fitted with torpedoes, how true is that?

Jelal0007:
Are u a soldier or know someone who's in the army? That dude hasn't done as half much work of the current chief of the air staff.

just because he hasn't perform as the CAS does not mean he's been a failure, the CAS is exceptional, by your logic the current CNS also is a failure because he doesn't compare to CAS?

Jelal0007:
If Air Marshal Sadiq Abubakar can't retained as CDS,all of them should be retired. Buratai has being a monumental failure,he shouldn't be retained 4 any reason.

I disagree with you Buratai has been good so far. Besides CDS is just a figurehead, service Chiefs are the real deal.

Arms surrendered by "militants" in Ondo under the ongoing amnesty programme:
Browning machine guns, General Purpose Machine Guns (GPMGs), Daewoo K3, Colt Automatic rifles, Breda 30, Fiat Revelli modelling, AK-47 rifles, rocket launcher, CETME Ameli, Heckler & Koch MG4, pump action rifles, CIS 50MGs and automatic cartridges.

andrewza:




iraq

Pic not showing

Abegi carry obi of onitcha own go first, dat one Na dieeeeeee.

Odunayaw:
Vain

?

Odunayaw:
And our labor in Liberia & sierra Leone gave us what?

Status of regional power.

tdayof:

UAV are being brought down by manpads in the Middleeast. We have enough of them . Nigeria F-7s are also armed for Air to Air so there's something we can do about it.


America doesn't need armed drones to spy you. Their Armed drones will easily be detected by radar systems on ground.

First of all, American drones in Niger are not armed, they are there just for surveillance purpose. Secondly manpads are threat to low flying aircraft like helicopters and US drones can go very high and again "most but not all" US drones are equipped with IRCM and lastly our blowpipe are MCLOS operated.

Whyem15:
Let the proper spying on Nigeria begin

exactly my thought, they could violate our airspace and there is nothing we can do about it.

Republic of Niger just gave US permission to use armed drones in their fight against terrorism.

bidexiii:



Yeap.....but they are no difference with the old Ak riffles that get rusty.

So this new one will be basically based on AK but with indigenous design?

bidexiii:



It's a Graduate process, before we stop seeing those rusty ak'-riffle.

A new factory has been set up to start manufacturing our own prototype AK-riffle.

I thought we already manufacture AK as Obj and I heard about Beryl m736 production line.

SupremeCourt:


Am no spoiler, just saying. Do you think Nigerians in large numbers have interest in military things? Youths focus on premiership football news and facebook, adults focus on news media about politics, gossip and all stuff that add no useful material to their near empty baba dudu skull.

Speak for yourself.

Just hope you are ready @ nemesis and frumentum, when Henry gets back he will come down on you HARD. He might also decide to throw in his best friend (patches) for good measure.

SouthEastFacts:

America is owning America. That is, most of their debts are held within America. So when servicing those debts, there is no capital flight outside the country.

Nope, America is owing China and Japan not America.

Frumentum:


The great unknown about Daesh operating in Sinai near the Gaza border is the position of their sworn enemies Hamas/Iran. Egypt claims to be targeting Daesh in this area, whilst aligned to the Daesh supporting GCC in Yemen against the Houthi/Hasballah/Hamas/Iran.
Oy vey, what a topsy turvy world we inhabit.

I Think you meant "hezbollah not hasballah". Anyway that's politics for you. I just keep imagining how Middle East and North Africa will look like without Saudi and Iranian rivalry coupled with instigations from the west.

SupremeCourt:


Your SBS commandos may die cheap in Libya. Why do you want to make 1,000 new fatherless children and widows in navy barracks at Ojo Satellite town just because some 25 to 45 year old educated adult fools intentionally jumped inside lions den in the name of looking for greener pastures? The whole world has been reading Libya disaster since 10 years ago when they first began to rrape our women and rob our men even before Ghadaffi lost control.

Who liked this comment for God's sake?
And you, do you have any rubbish stupid idiotic comment left to post? If yes, please do and get back to whatever hell hole you crawled out from you miserable excuse of a human. Still waiting for that post.........

horlams:


More like "Nigerian troops invade Libya, scores feared dead"

Exactly, looks like you are familiar with Nigerian media

Nigerdeltaboi:
e go make headlines ehnnn
Nigerian special Forces Raid Slave houses in Libya !
better headline

Are you kidding? This is Nigerian news agencies we are talking about. It will be like: "Nigeria soldiers attacked slave house in Libya". These people don't know the differences between fighter jets and helicopters or AFSF and SBS and QRF and to make it worse they don't bother researching.