Jpphilips's Posts
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ibietela2: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? |
ibietela2:Perhaps we have to be paying to be able to access Nairaland |
Demdem: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. |
NgeneUkwenu: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. |
InyinyaAgbaOku:What percentage of a shoe is the leather? lets test how you reason!! |
wite111: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. |
PDP must have stolen beyond Abacha |
Fanirandele:Exactly my point, the shame is on Jonathan and his SE squirrels who hardly knows the four cardinal points of common sense |
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?? |
All the culprits who smuggled yams into the Budget will understand that Nigeria now has a president |
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!! |
Buhari is the clear difference between PDP and APC |
Black man has a black mind |
aljharem: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. |
whiteboyswag: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. |
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!! |
Both of them are AQIM so what is the news here? |
raker300: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. |
iguita: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. |
obailala:Tell him |
Embarrass presido with your budget and face the consequence |
creamylicious: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.... ![]() 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!! |
What is too difficult about withdrawing the damn budget? |
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?? |
blackprowler: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. |
Litmus: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 ![]() Region of clowns |
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. |
@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. |
MagicBishop: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. |
Scholes007: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. |
MagicBishop: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. |
Bevista:President of which nation? |
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