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Business › Re: Five Oil Exporters Affected By Currency Devaluation Most by jpphilips(m): 10:45am On Feb 19, 2016
ibietela2:
Leave that guy because he starts insulting you....... Imagine what he is saying that ONLY ELITES are affected.

My hosting fee is $25 now 9k by month end if things doesn't improve it will be around 15k and he is saying elite
Perhaps we have to be paying to be able to access Nairaland, have you tried to get dollar at the official rate for hosting your website?
Business › Re: Five Oil Exporters Affected By Currency Devaluation Most by jpphilips(m): 10:44am On Feb 19, 2016
ibietela2:
Leave that guy because he starts insulting you....... Imagine what he is saying that ONLY ELITES are affected.

My hosting fee is $25 now 9k by month end if things doesn't improve it will be around 15k and he is saying elite
Perhaps we have to be paying to be able to access Nairaland
Business › Re: Five Oil Exporters Affected By Currency Devaluation Most by jpphilips(m): 10:42am On Feb 19, 2016
Demdem:

Of cos. This is no brainer.
When oil was more than $100 dollars per barrel, the fool never diversity our economy. Is it now that oil is less than $30 that diversification will happen within months?
Jeeez, by the time the fool was leaving, we were borrowing to pay salaries after many years of plenty. It's a miracle that Buhari so far has sustained us this far.
You made sense with the first article though it is nothing new, only the ignorant minds who refuse to grow up still think buhari is the cause of their economic woes, while I absolve buhari completely in this economic mess, I would blame Jonathan in 2015 but I think it is irresponsible to blame Jonathan in 2016 and beyond. let me tell you why;

No matter how much you save, it is only a matter of time before the balance of trade will tilt that is a fact, The rubbles went on a free fall recently according to your article, it has devalued by 100% against the dollar, so I can assume that by your analysis the Russian Economy is in trouble right?
Are you aware that this troubled Russian economy saved over $400b when the going was good? so why are their savings not saving them?
The answer lies with the fact that savings only buy time but will never change the inevitable.

You may have a valid argument by citing western sanctions but does it change the fact that Russia is the highest exporter of Natural gas in Europe? Europe is in winter and you have no idea how much Russia is making from Gas sales alone. Does it change the fact that russia has signed arms deal with china to the tune of Billions of dollars recently? or that president Assad has recently purchased an unspecified number of sophisticated air defence systems from Russia or that Iran recently placed orders for unspecified number of Su-30 fighter jets from Russia.

The idea of saving became a government policy in Nigeria during the era of OBJ and Soludo when the ECA was created, from there we paid off our debts which was a big sack on our annual budgets, we launched the NIPP, we paid subsidy, during the meltdown that saw most western economies in recession, the Nigerian economy was "immuned" according to Soludo, thanks to that savings made by Obasanjo.

The interesting part of the puzzle is that despite all the good things that savings did for our economy at the time, towards the end of Obj's administration, Naira was devalued to 155 against the dollar. To save is the right thing and it has saved us a lot of wahala in the past no doubt about it but if crude prices remain low for a longer time (OBJ/SOludo were just lucky that it peaked eventually), soludo with his savings would have devalued further.

So you see, there must be balance of trade whether or not you saved. It is irresponsible if buhari's media team continue to blame Jonathan beyond 2016, how much will Jonathan save that will stop the inevitable? I blamed jonathan in 2015, I voted him out in 2015 because I believe it was too early to have dipped into recession, but the present government needs to take hold of the wheels, this is no longer2015 and we voted them for a reason.
Business › Re: Five Oil Exporters Affected By Currency Devaluation Most by jpphilips(m): 10:37am On Feb 19, 2016
NgeneUkwenu:
Even Though The CBN Official rate of the Naira( which caters for about 80% of the dollar Usage) against the dollar Still remained @ 199 Naira at the Close Business Yesterday, while the parallel Market (Black Market) trades at 385 Naira to a dollar...It is pertinent to state that we are suffering for the mismanagement and corruption of the yesteryears, engineered, watered and nurtured by Vision less Party that just left power.

For the Past 16 Years, they looted Our reserves:

For For past 16 years, they did not Save for the rainy day...

For the past 16 years, they did not diversify our Economy..

For the past 16 years, they never implemented any of their yearly ritualistic budgets to stimulate the economy..

For the past 16 years, they only shared our Foreign exchange and depleted our reserves...

Now this is result of their hard work....

In fact , it is still a miracle, that The Present Government is still meeting it's financial Obligations in the face of all these crunches...
You made sense with the first article though it is nothing new, only the ignorant minds who refuse to grow up still think buhari is the cause of their economic woes, while I absolve buhari completely in this economic mess, I would blame Jonathan in 2015 but I think it is irresponsible to blame Jonathan in 2016 and beyond. let me tell you why;

No matter how much you save, it is only a matter of time before the balance of trade will tilt that is a fact, The rubbles went on a free fall recently according to your article, it has devalued by 100% against the dollar, so I can assume that by your analysis the Russian Economy is in trouble right?
Are you aware that this troubled Russian economy saved over $400b when the going was good? so why are their savings not saving them?
The answer lies with the fact that savings only buy time but will never change the inevitable.

You may have a valid argument by citing western sanctions but does it change the fact that Russia is the highest exporter of Natural gas in Europe? Europe is in winter and you have no idea how much Russia is making from Gas sales alone. Does it change the fact that russia has signed arms deal with china to the tune of Billions of dollars recently? or that president Assad has recently purchased an unspecified number of sophisticated air defence systems from Russia or that Iran recently placed orders for unspecified number of Su-30 fighter jets from Russia.

The idea of saving became a government policy in Nigeria during the era of OBJ and Soludo when the ECA was created, from there we paid off our debts which was a big sack on our annual budgets, we launched the NIPP, we paid subsidy, during the meltdown that saw most western economies in recession, the Nigerian economy was "immuned" according to Soludo, thanks to that savings made by Obasanjo.

The interesting part of the puzzle is that despite all the good things that savings did for our economy at the time, towards the end of Obj's administration, Naira was devalued to 155 against the dollar. To save is the right thing and it has saved us a lot of wahala in the past no doubt about it but if crude prices remain low for a longer time (OBJ/SOludo were just lucky that it peaked eventually), soludo with his savings would have devalued further.

So you see, there must be balance of trade whether or not you saved. It is irresponsible if buhari's media team continue to blame Jonathan beyond 2016, how much will Jonathan save that will stop the inevitable? I blamed jonathan in 2015, I voted him out in 2015 because I believe it was too early to have dipped into recession, but the present government needs to take hold of the wheels, this is no longer2015 and we voted them for a reason.

Politics › Re: Ben Bruce Flaunts His Made-In-Aba Shoes, Says They're As Good As Italian Shoes by jpphilips(m): 5:33pm On Feb 18, 2016
InyinyaAgbaOku:
So, assuming the leather was imported, the shoes cease to be made in aba?
Do you know if your italian shoe company imports leather too?
How do some of you reason?
In this era of division of labor and specialization of industries, some people think you must make every component of an object to be called ' made-in' ?

....only in Nigeria.
What percentage of a shoe is the leather? lets test how you reason!!
Politics › Re: Why Does Zahra Buhari Have A British & Nigerian Passport? by jpphilips(m): 3:09pm On Feb 16, 2016
wite111:
This was written by a BIAFRAN Agitator, but made some sense to me, decided to share here, what do you think?



Quote
laughable that Mohammadu Buhari the tyrant President of the murderous establishment called Nigeria who is totally in charge of the three arms of Government in Nigeria, as he makes Laws for the Legislature and convicts innocent individuals before trial in the Court of jurisdiction, he has declared the possession of dual citizenship an unforgivable and unbailable crime against humanity. In the Presidential maiden chat, Buhari stated "Nnamdi Kanu committed a huge crime, by having two passports. So he can't be bailed".

18012015C-zahra1.jpgNow, one will ask, if this same Man, who needs to present his certificate to the World, understands that a member of his Family is guilty of the same purported crime he publicly convicted Mazi Nnamdi Kanu for, Zarah Buhari is the Fifth Child of Mohammadu Buhari the tyrant President of the Lawless contraption called Nigeria. She is a British Citizen who lives in the United Kingdom and proudly told the World she is a British Citizen. Zarah Buhari lives and schools as a Medical Micro-Biology student of the University of Surrey in United Kingdom. This very daughter of the tyrant Mohammadu Buhari,is in possession of Dual Passports, a British and Nigeria Passport and her Father has never called for her detention or convict her through a media chat. The Puppet appointed Judge in charge of the trial against the Leader of the Indigenous People of Biafra Mazi Nnamdi Kanu by name Justice John Tsoho, made a ruling on the 29 of January and in his ruling "The defendant Nnamdi Kanu will not be granted bail, due to his possession of dual citizenship, he might jump bail and escape".

When Justice John Tsoho was accepting this judgment passed to him by the self appointed Judge Buhari in their secret chamber, did the Hundred Million Naira Bribe given to him, becloud his thoughts of reasoning that he couldn't ask his master, if a member of his Family is also guilty of the Dual Passport crime? How can the daughter of Mohammadu Buhari be in possession of dual citizenship and no Nigeria Politician, have deemed it fit to raise alarm against it for the World to know? Every member of Nigeria is obviously afraid of losing his/her jobs, as any exposing truth about Buhari will lead to a relief of duty.

Twice have the Court of jurisdiction ordered that Citizen Nnamdi Kanu be released, despite fulfilling his bail terms, tyrant Mohammadu Buhari has interfered with the Nigeria judiciary and ordered that Mazi Nnamdi Kanu shouldn't be released against the Nigeria constitution,"Under Section 287 of the 1999 constitution, all persons exercising Judicial, Executive or Legislative power must have respect for the order of the court". The Indigenous People of Biafra have not gained anything positive from the contraption called Nigeria, if not marginalization, subjugation to perpetual poverty, destruction of Biafran lives and properties and resources theft.

The Leader of the Indigenous People of Biafra and Director of Radio Biafra/Biafra Television has done nothing wrong, which even the Nigeria Bar Association (NBA) have aired through a press release. Nnamdi Kanu is a British Citizen, thus have the right to have a British passport, likewise Zarah Buhari who moves to various countries, with her dual passport. Mazi Nnamdi Kanu can't be on detention without bail on the basis of dual possession of dual citizenship, whilst Zarah Buhari is moving freely. Justice John Tsoho is indeed dragging his career into the mud, for making rulings against even the constitution of Nigeria, because constitutionally it is wrong to keep an individual on detention for more than 90days, but Citizen Mazi Nnamdi Kanu has been unlawfully detained for over 90days against the constitution. If Mohammadu Buhari and Justice John Tsoho are indeed lawful as they claimed to be, they should get Zarah Buhari detained for been in possession of dual citizenship, same way he has done to Citizen Nnamdi Kanu.
The article made sense to you because both of your are exponentially dumb, Kanu is a flight risk because he has dual citizenship, what has that got to do with Zhara? is she in detention?
Kanu's crime is Treasonable felony not dual citizenship so both of you need to go back to nursery school, He claims IPOB has not gained anything from Nigeria yet they are causing Fx shortages and tilting balance of trade with excessive importation, not to mention using APAPA ports mumu!! ask jonathan the same question.
Politics › Re: EFCC May Go After Ex-first Lady Over N1trn Campaign Funds’ Disbursement by jpphilips(m): 2:52pm On Feb 16, 2016
PDP must have stolen beyond Abacha
Politics › Re: Budget: South-West Gets Lion’s Share Of Projects by jpphilips(m): 2:46pm On Feb 16, 2016
Fanirandele:
Who stopped him from completing it, is 4 years not enough for him to have completed the bridge if he was sincere angry
Exactly my point, the shame is on Jonathan and his SE squirrels who hardly knows the four cardinal points of common sense
Politics › Re: Electricity Tariff: Court Warns FG, Discos Not To Disobey Subsisting Orders by jpphilips(m): 2:41pm On Feb 16, 2016
The power companies need money to invest in the sector no doubt about that, power generation cost money, that does not still justify the increment at least till we all get meters.

The Honorable Minister Fashola should explain to Nigerians how companies that lack the Financial muscle to invest in the electricity sector won those bids, It wasn't his administration but the realities on ground have necessitated a total probe of the bidding process.

it's like selling an airline to a cab company then turn around and ask the passengers to pay more so that the cab company can buy a plane when it was pretty obvious ab initio that the cab company lacked the capacity to manage an airline.
These companies were allegedly sold to cronies of former president Jonathan in a very dubious process, companies that lack the expertise and financials to run anything were given critical national assets to manage, the process was so shoddy that reputable world class companies like Manitoba was knocked off in favour of companies that had no idea the difference between + & -, are we still surprised why Barth Nnaji was eased out during the Alibaba process. The Acquisition process must be probed!!


Before Nigerians are forced to pay more for services they never get, we need to look at two money spinning areas for the electricity companies.

1) Estimated billing
2) Fixed charge.

Nigerians were charged a fixed charge of 750 naira from 2013 to the last day of 2015, if we take a DISCO like EEDC for example, EEDC monopolized 5 states (Anambra,Imo,Abia,Ebonyi and Enugu states), if we estimate an average of 50 million flats in these states, EEDC makes
750 X 50,000,000.that is a whooping 37.5b naira monthly or 900bn naira for 2yrs.
If you have a bad substation (transformer), they will never spend 2m to replace it rather they will Refurbish it in 20cycles from one street to the other.

KEPCO completed a 200MW power plant in the Philippines for $450m, with exchange rate of 155naira to a dollar (2013 when the DISCOS took over) that amounts to 69.7b naira. This has clearly shown us that a DISCO like EEDC has made enough money in 2yrs to build 13, 200MW power plant from fixed charge alone.


Estimated Billing;


A flat in my neighborhood pays 25k as monthly charge, an area that suffers 4hrs of electricity a day, now, if you do the maths with the worst type of electronics on earth, you will agree with me that a flat in my neighborhood should not consume more than 7k in a month.
Subtract that amount from the 25k we pay, the DISCO is making another killing of 18k per flat, I am sure that it is the same with most estimated flats.

Suppose half of EEDC customers are on estimated billing, on this fraud they make another 18k X 25m= 450b per month or 10.8T in 2yrs, let us give recurrent expenditure half of that amount, EEDC as a DISCO made 6.3T in two years, an amount that can build 78nos 200MW power plant.

How can fashola convince me that they do not have the funds to invest in the sector to guarantee steady electricity for consumers?

One of the least Power assets is a meter, a three phase meter retails in China for $80 quantity price, yet fashola thinks that a company sitting on 6.3T could not provide an $80 meter to justify the said increment?
If at 6.3T they can not provide ordinary meter, how much more do we need to pay before a transmission line is replaced?

Is this change??
Politics › Re: Buhari Sweeps Jonathan’s Government–panick In Parastatals, Source Leaks More 200 by jpphilips(m): 2:23pm On Feb 16, 2016
All the culprits who smuggled yams into the Budget will understand that Nigeria now has a president
Politics › Re: FG Begins $1bn Clean-up Of Ogoni Next Month•to Embark On Fresh Arms Mop-up In ND by jpphilips(m): 2:11pm On Feb 16, 2016
Tompolo will blow a line, community at the receiving end of the spill will shield him, then UNEP will ask FG to clean up, Brilliant!!
Politics › Re: Clarifying The Difference Between PDP And APC by jpphilips(m): 2:02pm On Feb 16, 2016
Buhari is the clear difference between PDP and APC
Family › Re: The Amazing Transformation Of The Abandoned Nigerian "Witchcraft" Child by jpphilips(m): 1:48pm On Feb 16, 2016
Black man has a black mind
Politics › Re: Budget: South-West Gets Lion’s Share Of Projects by jpphilips(m): 1:38pm On Feb 16, 2016
aljharem:
At least second Nigeria bridge would actually be done
It will be concessioned meaning another Tinubu toll collecting Empire is coming to the South East, If Jonathan had completed it, SE would be free from Tinubu's shackles.
Politics › Re: Why Is ONNE, Calabar & Delta Sea Port Under Utilized. by jpphilips(m): 12:59pm On Feb 16, 2016
whiteboyswag:
Pls house let's have a matured and sensitive discussion, pls I'm here to learn no base.
In the past years we have seen lagos grow and still growing into a mega city where every local government area have benefited heavily and even neighbouring States benefiting from its overflow because of major activities happening in the state one of which is the tincan port apapa which generates more than 60 percent of internal revenue for the state.
My question is with all the traffic gridlock in the state why is it that most goods(cars mostly) still come in only though lagos.
You want to learn yet you have concluded on their status?

Now change your thread to something like this;

Gents, can I get a heads up on the status of the following ports.
Politics › Re: The Hypocrisy In Ben Bruce’s Common Sense Revolution by jpphilips(m): 12:56pm On Feb 16, 2016
The writer of this article is an ineffectual bingo, what exactly was he criticizing of bruce? he is a senator and he is paid so well to speak however senseless, he is a voice in the senate, it is called doing his Job.
If you are paid to talk please do, that is Bruce's job and he is doing it so damn well!!
Politics › Re: Al -shabaab Trains Boko Haram - Somalia's President by jpphilips(m): 12:26pm On Feb 16, 2016
Both of them are AQIM so what is the news here?
Politics › Re: Ben Bruce Flaunts His Made-In-Aba Shoes, Says They're As Good As Italian Shoes by jpphilips(m): 11:17am On Feb 16, 2016
raker300:
People be calling Aba fake and Italian original

Italian leathers are not made for nigerian weather. Once an Italian shoe is exposed to heat, it starts to shrink until it breaks

On the other hand, aba can last in nigerian weather but the finishing is not perfection but it's improving

Same thing goes to Aba tailoring: they know th body structure of an average nigerian wch is why their clothes fit more perfectly unlike the China clothes most nigerians wear that are freakishly small n tight
Aba leathers are China made, do you sincerely think those guys hyde the leather? lol
Chinese leather is vegetable equivalent I laugh when people call it locally made when its 70% imported.
Science/Technology › Re: Ways To Keep Your Tech Swag Despite High Electricity Tariffs by jpphilips(m): 9:12am On Feb 16, 2016
iguita:
Ogbeni, you have exposed the secrets of these guys oo. father inlaw and I were discussing these issue just an hour ago and I told him that the increment in tariff will not improve generation or supply, rather what we will see is another increment by this time next year. I should show the old man your post, it made all my arguments since morning simple. What I do not understand is why the honorable (or horrorable minister in this case supported them, I told daddy he must have collected brown envelope but daddy is a devoted Buhari/ Fashola follower.
Fashola is busy insulting common sense, give us meter then increase your tariff, if I can afford just 10hrs of your expensive electricity daily, so be it, if i can afford 24hrs, then so be it.
Politics › Re: How Osinbajo Ruled Nigeria In The Absence Of Buhari by jpphilips(m): 8:19am On Feb 16, 2016
obailala:
How I wish some people like yourself can receive a vision of what can happen to a country like Nigeria if it runs out of forex, how I wish you can understand the kind of terrible humanitarian crisis the nation would be plunged into if we run out of forex reserves, then you wouldn't sit behind your desk and think the CBN are the villains in this forex hoarding game.

https://www.naij.com/434668-external-reserves-cant-pay-for-imports.html
If you read this simple article above, it would give you a little insight as to why the CBN as a matter of national emergency, has to hoard forex as much as it can. The CBN presently has less than $28billion as its liquid forex reserves, a value which cannot satisfy up to a 6 months import requirement. Can you imagine what would happen to a nation if it runs out of forex to the point of not being able to import essential commodities like food, petroleum products etc.?
Tell him
Politics › Re: Buhari Sacks Director-Generals Of NTA, NBC, NOA & 3 Others by jpphilips(m): 5:14pm On Feb 15, 2016
Embarrass presido with your budget and face the consequence
Romance › Re: I Stormed His Wedding & Made Him Cry After He Broke My Heart by jpphilips(m): 4:29pm On Feb 15, 2016
creamylicious:
The man is just scared that the lady has got excellent career goals,, she therefore may not 'submit' to him... He has found the one to show his macho manliness to.
Scared? I don't think so, perhaps because of the small change she is earning on the Island, she thinks she can toss the guy around with commands of where and where not to stay, if the guy was successful like she said, how was he not able to know what is best for both of them?
If the guy really cried, he was acting so that the nuisance will leave with her wahala, after calling the other girl "bushmo", who wore the ring?
"Bushmo" wins!!
All these girls with micro finance showing themselves anyhow, Imagine taking her nuisance to the guy's wedding like she paid for it, oh! she told us she drove off in her car and looked prettier than....grin grin grin

Not to worry, the guy may not have had time to choose the best from the lot but she and her arrogance are no best choices either.
Did it even occur to the girl that a man who is getting married has tripled his recurrent expenditure by default not factoring in the instantaneous liabilities of walking down the Isle? what if the Mowe apartment is what he can afford then what? I get it, you want him to be at your mercy annually for another round of ego polishing for rent right?
She shouldn't worry about him, with time he will get used to his bushmo, while she is back in the game for several rounds of heartbreak!!
Politics › Re: Buhari's Budget Riddled With Errors Puts Graft War In Doubt -bloomberg by jpphilips(m): 4:01pm On Feb 15, 2016
What is too difficult about withdrawing the damn budget?
Science/Technology › Re: Ways To Keep Your Tech Swag Despite High Electricity Tariffs by jpphilips(m):
The power companies need money to invest in the sector no doubt about that, power generation cost money, that does not still justify the increment at least till we all get meters.

The Honorable Minister Fashola should explain to Nigerians how companies that lack the Financial muscle to invest in the electricity sector won those bids, It wasn't his administration but the realities on ground have necessitated a total probe of the bidding process.

it's like selling an airline to a cab company then turn around and ask the passengers to pay more so that the cab company can buy a plane when it was pretty obvious ab initio that the cab company lacked the capacity to manage an airline.
These companies were allegedly sold to cronies of former president Jonathan in a very dubious process, companies that lack the expertise and financials to run anything were given critical national assets to manage, the process was so shoddy that reputable world class companies like Manitoba was knocked off in favour of companies that had no idea the difference between + & -, are we still surprised why Barth Nnaji was eased out during the Alibaba process. The Acquisition process must be probed!!


Before Nigerians are forced to pay more for services they never get, we need to look at two money spinning areas for the electricity companies.

1) Estimated billing
2) Fixed charge.

Nigerians were charged a fixed charge of 750 naira from 2013 to the last day of 2015, if we take a DISCO like EEDC for example, EEDC monopolized 5 states (Anambra,Imo,Abia,Ebonyi and Enugu states), if we estimate an average of 50 million flats in these states, EEDC makes
750 X 50,000,000.that is a whooping 37.5b naira monthly or 900bn naira for 2yrs.
If you have a bad substation (transformer), they will never spend 2m to replace it rather they will Refurbish it in 20cycles from one street to the other.

KEPCO completed a 200MW power plant in the Philippines for $450m, with exchange rate of 155naira to a dollar (2013 when the DISCOS took over) that amounts to 69.7b naira. This has clearly shown us that a DISCO like EEDC has made enough money in 2yrs to build 13, 200MW power plant from fixed charge alone.


Estimated Billing;


A flat in my neighborhood pays 25k as monthly charge, an area that suffers 4hrs of electricity a day, now, if you do the maths with the worst type of electronics on earth, you will agree with me that a flat in my neighborhood should not consume more than 7k in a month.
Subtract that amount from the 25k we pay, the DISCO is making another killing of 18k per flat, I am sure that it is the same with most estimated flats.

Suppose half of EEDC customers are on estimated billing, on this fraud they make another 18k X 25m= 450b per month or 10.8T in 2yrs, let us give recurrent expenditure half of that amount, EEDC as a DISCO made 6.3T in two years, an amount that can build 78nos 200MW power plant.

How can fashola convince me that they do not have the funds to invest in the sector to guarantee steady electricity for consumers?

One of the least Power assets is a meter, a three phase meter retails in China for $80 quantity price, yet fashola thinks that a company sitting on 6.3T could not provide an $80 meter to justify the said increment?
If at 6.3T they can not provide ordinary meter, how much more do we need to pay before a transmission line is replaced?

Is this change??
Politics › Re: Bayelsa Bombing & Water Pollution: When Did Nigerians Become This silly? by jpphilips(m): 4:44pm On Feb 05, 2016
blackprowler:
Decades you say abi? Well, the oil was in your backyard for millenia, even before you got there, let alone anyone else. Why didn't you use it to develop yourselves? Maybe the Shiroro and Kainji dam communities should start blowing up the dams in their areas because they "own" the water used to power tha dams to provide electricity to "other parts of Nigeria". Nigerians are mostly incredibly dumb; lacking in power of the intellect but overflowing with emotional responses and actions controlled by instinct - pretty much like apes
This country has the highest number of m0r0ns on earth, i can't wait for the statistics to be out, watch the way they drive then tell me if it is obtainable elsewhere, most of them have no idea how a real society works let alone what needs to be done around ratiocinations, stop wasting your time.
The national IQ average of Nigerians is less than 3.
Politics › Re: Bayelsa Bombing & Water Pollution: When Did Nigerians Become This silly? by jpphilips(m): 4:37pm On Feb 05, 2016
Litmus:
With Heavy Heart I Ask When Did Nigerians Become This silly?

https://12800-presscdn-0-96.pagely.netdna-cdn.com/wp-content/uploads/2015/11/Oil-spill-impacted-site-e1447239331487.jpg



http://sunnewsonline.com/new/bayelsa-bomb-attack-on-oil-pipelines-cause-major-spill/



Please share your thoughts in the comment box below
Those fvcktards will not ask the Agitators to go and clean up their environment rather in 5yrs time, the blame will be on Agip to do the clean up,
who remembered UNEP report?
The report actually asked Shell to clean up Kpo fire sites grin grin grin grin
Region of clowns
Politics › Re: ''Jonathan's Government Bought Substandard Weapons'' - Alhaji Lai Mohammed by jpphilips(m): 5:19am On Feb 02, 2016
Lai mohammed thought that he has access to sophisticated equipments under sanctions, I wonder how my tax is servicing the buffoonery of this Lai mohammed, conversely, if the sanctions could not permit us to get exactly what we needed, the money should be returned not loaned to Olisa Metuh without interest.
Politics › Re: The Greatest Fraud Ever In Nigeria History by jpphilips(m):
@OP
Even though I did not bother reading the rest of your post due to your glaring ignorance, let me categorically tell you that funding budget deficits does not automatically equate to borrowing, that is the crap Iweala sold to gullible Nigerians like you in 2014.
Only a lazy government does that in a hurry!!

The govt has every right within a fiscal year to increase the target of revenue generating agencies, that is another way of making up for budget deficits, they may increase tax net (in a country like Nigeria, only institutions and individuals in the public and private service pay reasonable tax, most people dont) if the net is widened, the revenue base of the country increases that will make up for the deficit, do you expect to see that in the budget too?

So far on corruption allegations alone, Nigeria can fund 2 years budget if those funds are returned within a year, do you expect to see Olisa Metuh on the budget too?

Sovereign wealth yields (if any) do make up for budget deficits, external reserves (if any) does that too like Saudi and Russia are doing today.


This is my advise for you

Instead of throwing around your ignorance on the internet, support the president on his Judicial reforms, that way, the anti corruption drive will yield results pretty soon, I hope you are not oblivious that Dasuki alone is sitting on a quarter of that deficit.

That will only buy us more time before taxes are increased, most countries that are not oil dependent but successful, are dependent on income and corporate taxes there is no other magic to government revenues. Speaking of which, NLNG corporate tax for 2015 was $1.6b, almost one fifth of that deficit

Read my signature before responding, I hate seeing ignorant people on my mentions.
Politics › Re: Oil Price Fall Below $30 Per Barrel Nigeria Summons Emergency OPEC Meeting by jpphilips(op): 4:49am On Feb 01, 2016
MagicBishop:
The US wants in on the game and that's why they just lifted an embargo on US crude exports.

If there is one thing US shale producers and Russian gas energy want; it is an increase in crude pricing.

The only way to get that is to get a unanimous decision by OPEC ( which means getting Saudis to agree) to cut oil production.

As I said earlier, the Saudis out of deep sectarian inspired blind hatred towards Iran will never concede to any cuts as this will see Iran benefit from increasing Crude pricing from where their economy improves rapidly.

The only way to do this is to instigate a major conflict in Saudi Arabia (civil war, coup, or whatever armed crisis) that will significantly cut Saudi oil output.

In the long run it will be of benefits to both the Russians and the US for a major prolonged war to happen in the middle east involving both these countries either directly or via their proxies in Yemen, Syria and or Iraq.

The Russians and US will also profit by supplying arms to both sides (making more money) and will only step in diplomatically and militarily if either is getting an upper hand in other to prolong the conflict.

This is Putin's plan in Syria. If he wanted he could wipe out ISIS in a month but he is holding back using the full fury of Russian military arsenal and applying that which is just enough to stabilise his ally Assad and keep ISIS at bay so he can maintain Russian military presence in the ME.

I just hope the World powers don't have similar plans of war in Niger Delta as well.
Your post in bold may not be the reason Saudi is against production cut, though their official reason (market share) is baseless.
It makes no sense to hurt yourself just to spite another, Saudi is hurt by the present crisis, they have shrunk their budget for 2016 and reasonably cut down on subsidies, remember that what subsidy means to an average Nigerian is the reverse for the Saudi's.
Their citizens virtually live off subsidies that is the sole reason the Kingdom has been stable for a long time, that might change if crude prices remain low, do you sincerely think Saudi will risk an implosion, revolution or civil war just to spite Iran? Hell no!!

Trace it back to the 70's when a similar thing happened and the Saudi strategy at the time, the Saudi's want the oil prices to remain low for now, not because of Iran but US, if you listen to Bohemier and Trump lately you will realize that America conceded a lot to bring Iran on board with the nuclear deal, so the right questions are, why Iran? why now? and what is Saudi doing that is hurting America to make such a sacrifice?

Iran is the 7th world producer and number 2 in OPEC (same organization Saudi belong to), Iran operate in the same area as Saudi which puts pressure on Saudi's market share, cost of production in Iran and Saudi are almost apar so no relative production edge unlike the US.

What is Saudi doing? Saudi is pumping excess crude in the market to keep the prices very low and unprofitable for the US shale producers who have proved since last year that they are a formidable competitor in the oil industry, within three years, they have swelled the US production to a whooping 13mbopd past Saudi's 11mbopd.
Shale extraction is very expensive as such, it takes an average of a little above $55/bbl for the US shale fields to be profitable, with low oil prices, it is just a matter of time before the Shale investors will pack up, once that happens, US production will drop significantly and Saudi will reclaim its market lead.

Obama's counter strategy is simple, bring Iran on board, Iran is one of the hardest hit countries in this current crisis, it is natural to expect Iran to coerce Saudi to cut production through OPEC, once it happens, prices, go up, US shale fields will become profitable again. This does not make Iran an ally of the US in anyway, Iran is just a "tool of convenience" for the US in a time like this.
Politics › Re: Oil Price Fall Below $30 Per Barrel Nigeria Summons Emergency OPEC Meeting by jpphilips(op): 4:19am On Feb 01, 2016
Scholes007:
sorry for the typo, i am using auto spell.

russia as we all know has been in cold war with the west, and oil & gas supply have been their major leverage against the west. Joining opec will mean expanding this leverage to west. Considering the west influence on some member states like saudi arabia, there will be a great fault line within the opec that will not be of any desirable effect especially now.
Russia lost that Oil leverage a long time, you just didnt notice, rank Saudi, US and Russia by oil production and you will be amazed what you will find.
Saudi is very influential not solely for their production but also they have OPEC, no doubt there will be internal ramblings between the Saudis and Russia in OPEC I guess that is why it has been difficult so far t bring them in.

If I were Russia, I will join, Stabilize oil price, then pull out when the tide turns.
Politics › Re: Oil Price Fall Below $30 Per Barrel Nigeria Summons Emergency OPEC Meeting by jpphilips(op): 3:43am On Feb 01, 2016
MagicBishop:
And why will Russia join OPEC?

Mexico is signatory to NAFTA ( North American Free Trade Agreement) . That alone bars them and Canada from joining the cartel.
It is in Russia's interest to join OPEC efforts have been made to lure them in the past, lets say times have changed now.
With sanctions hanging on their neck and lower prices, OPEC could be a reasonable window.

Yea! I forgot NAFTA, would be s!lly of mexico to join, it has more to gain trading with the US than the bloody OPEC.
Politics › Re: Nigerians React After The Economist Tagged GEJ As "An Ineffectual Buffoon" by jpphilips(m): 10:56pm On Jan 30, 2016
Bevista:
The Economist is a highly reputable & internationally read newspaper. They shouldn't be using their platform to address the President of a sovereign nation with such denigrating words. We can excuse petty blogs if they do so, but not the likes of CNN, VOA, The Economist, etc.
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I detest the former president for how he managed the economy, but those words by a foreign newspaper is way out of line.
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I am seriously gutted with the Economist. I would cancel my subscription with them immediately if I still had one running.
President of which nation?

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